Thursday, July 30, 2009

BC Ferries Top Brass Paid $3 Million

Ferries Boss Paid
$1,000,000.00 Per Year

An article in todays Times Colonist reports the salaries for the BC Ferries top five executives which totals over $3,000,000.00 per year.

The President and CEO David Hahn receives over $1,000,000.00 with combined salary and bonuses. The companies four vice presidents receive $500,000.00 for a combined pay packet to run the corporation of over $3,000,000.00.

Needless to say this revealtion is not sitting well with most politicians on either side of the house, calling the salaries 'shocking' and wondering if BC is really getting the best bang for the buck.

Hahn was quick to defend what he and his team have accomplished since taking over the helm of the BC Ferries which was in a real mess after the government spent nearly $500,000,000.00 on the ill fated Fast Cats which never did run right and wound up being given away for less than $20,000,000.00.

The thirteen member board ( the chairman is paid $154,000.00 and members paid $48,000.00 plus $1500 a day to attend a meeting in person and $750 a day for a teleconference) were quick to defend Hahn's salary saying they had studied other corporations top brass salaries and found Hahn to be in the mid-range.

Board member David Miller says that Hahn has done a 'super job' turning the corporation into a highly efficient company which has brought in new assets and new terminals etc.

Editor's Comment:
I have yet to see any hard comparisons as to the fuel cost per passenger to cross the Straits in these new super class ferries. Whether the top brass is really worth their salary is debatable, although these days there seems to be no end to corporate greed at all levels. BC Ferries should not be expected to be any different.


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