Wednesday, September 28, 2011

BC Ferries Boss Jumps Ship?

Did He Run BC Ferries Well?

Depending on who you listen to Ferries boss Hahn upgraded the fleet, and improved several terminals giving us a world class ferry system which gives him straight A's for a job well done.

On the other side of the discussion are those who say he created a world class cruise line instead of a more modest, fully functional means of getting vehicles on and off of Vancouver Island. Do we really need Spirit Class vessels all the way from Germany or could the watery highway to Vancouver Island have been just as well served with less upscale vessels which arguably are more costly to run when not at capacity.

If you look simply at the numbers you are not as likely to give Mr. Hahn straight A's considering that in 2006 the companies net earnings were nearly $50 million and they have steadily declined to a meager $3.4 million in 2010 and are now projected to be in the red by over $20 million.

So, is Mr. Hahn really leaving BC Ferries now to save the company his hotly debated salary and benefits or is he getting out while the getting is good and wants to avoid what happens when the 'brown stuff, hits the fan'.


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