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Archive for 'corporate compensation'

Stock options, the buyback boondoggle and the crisis of capitalism

As if there weren’t already enough reasons to eliminate the egregious stock option tax loophole, a column by Eric Reguly in this month’s Report on Business magazine highlights yet another.  This reason helps to explain why we had such a booming stock market up to 2008, but little growth in real investment and productivity. First […]

Misaligned Priorities

So Industry Minister Tony Clement is now insisting that cuts to workers wages will be a condition of any bail-out package for the auto industry.  This comes after an economic statement that was going to remove the right to strike and legislate public sector wages, and before a budget that could also include wage cuts or constraints for […]

Blood in the aisles = black in the boardroom?

Was it just me or did others get a nagging feeling about the intent behind Air Canada’s surprise announcement of 2,000 layoffs yesterday? The media coverage played along the lines of their press release, with a strong focus on the rising cost of fuel.  This is certainly an issue, together with the impact of the […]

A Telling Anecdote on CEO Greed

Today’s excellent Globe Report on Business story  on Potash Corp CEO William Doyle http://www.theglobeandmail.com/servlet/story/RTGAM.20080508.wrpotash08/BNStory/energy/home scarcely requires additional commentary.  But here goes – Apparently, his stock options are now worth $600 Million, up from $7 Million at the end of 2003.  This huge windfall reflects soaring potash prices, up from $100 to $600 per tonne over […]

Merrill CEO Has So-So Day

As reported in yesterday’s Globe ROB p.1, Merill Lynch CEO Stan O’Neal seems set to be the fall guy for his firm losing Billions on asset-backed securities. That sounds like bad news for him. But news of his pending departure drove up Merrill shares, giving Mr O’Neal a paper gain of $16 Million on his […]