Couple of news stories caught my eye over the weekend. Seems Bombardier big dog Alain Bellemare backed away from the 50% pay hike granted to Bombardier's senior management team, not because 50% pay raises for the brain trust behind a failing company is an obscenity, but because they were getting bad press over the issue.
The rationale behind granting a 50% pay raise to the wankers who have run Bombardier into the ground is this; you have to pay top dollar to attract and retain top talent.
How does it take "top talent" to mismanage a company to the point where they can't deliver streetcars to the TTC within two years of the contractual due date?
Ya, you gotta pay big bucks to keep that talent! Not to mention that C-series jet that's what... four years behind schedule and four billion dollars over budget? The C-series is the biggest boondoggle this side of the F-35. Compared to Lockheed-Martin, our Bombardier buffoons are mere babes in the woods... meaning there's probably tons of headroom left in the bamboozle-the-taxpayer file at Bombardier.
The other story came out of CIBC. Seems the bank that cleared 1.4 billions in profit last QUARTER is gonna save a few bucks by shifting Canadian call centres to India.
Of course it's got nothing to do with screwing the workers.
CEO Dodig spells it out for you; "companies that stand still don't stand the test of time."
What the fuck is that? Keeping jobs in Canada is "standing still?"
Both these greed-bag CEOs are million-a month guys more or less. A Canadian working full time at minimum wage won't hit a million bucks even if she works from age 18 to 65.
Too bad for the workers.
At least our companies aren't standing still.
And the million-a-month CEO types aren't standing still either.