REPLAY from June 2010, demonstrating the deceitfulness of BC Liberals involved in oversight of BC Ferries:
The Coastal Ferry Act that received royal assent June 3 includes a number of administrative changes, including limits to remuneration paid ferry executives and directors. CBC reported “Transportation Minister Shirley Bond says million-dollar paydays at BC Ferries are sinking fast.” However, like much of what Ms. Bond says, that is not quite correct. The pay packages of existing senior executives are grandfathered so, for them, not much changes.
In November, Insights published THIS:
Last summer, we reported that David Hahn, B.C. Ferries CEO, guided the company to declining ridership and rising fares but earned $1,034,680 including salary and bonuses during fiscal 2009 while Executive VPs Michael Corrigan, Glen Schwartz, Robert Clarke and Trafford Taylor had compensation packages for the same period that ranged from $485,509 to $561,747.
Washington State Ferries, USA’s largest ferry system, operates 24 vessels and has plans to build 13 new ships in the next few years. They hired a new CEO, David Moseley, in 2008 to guide the modernization. He is reputed to earn $140,000. Moseley’s former position as City Manager of Federal Way WA paid $110,000, including expenses.
In his new position, the Washington State Ferries chief executive earned a salary of $141,000 in 2008, less than 15% of David Hahn’s remuneration. It is safe to say that BC Ferries is unlikely to have executives recruited by our neighbors to the south.
However, the shoal of admirals in British Columbia’s fleet are not happy with new guidelines for brass. David Hahn complains about the new rules. These not only limit compensation but also force the company to comply with Freedom of Information rules and require institution of a public complaints process. Doing all that may need appointment of two more Executive Vice-Presidents. Which is perhaps why Mr. Hahn says these measures will cost $3 million a year. He objects because he wants to run a lean and mean machine. Or, given those executive salaries and bonuses, at least a mean machine, if not lean.
Categories: BC Ferries