The remainder was first published May 8, 2014.
In a month or three, BC Ferries will publish statements of its financial position and information about remuneration earned by the top executives.
I had someone look into a crystal ball and we’ve determined that in 2014, as in all years prior, the ferry execs achieved key financial targets, improved value to customers at every point along the customer experience chain, continuously improved the safety of operations, improved operational reliability of vessels, terminals and facilities and just got better at everything they do.
As a result, bonuses will be paid. Again.
There may be a few ferry users scattered in coastal communities who do not agree this publicly-owned private-company has been delivering best value for money but, rest assured, the rooms full of directors and commissioners, who regularly helicopter to Victoria for meetings, observed first hand that all the ferries they saw were headed in the right directions.
The crystal ball had one other forecast and we proved it by extending information shown on the charts below. The first shows that traffic has been dropping steadily as British Columbia’s population grows.
The second graph demonstrates that in 2004, there were 7.5 traffic movements of vehicles or passengers for each person in the province. By FY 2014, that number had dropped to 5.9. The 21% decrease may seem modest but in only 36 years, the per capita traffic will drop to zero.
Yes, the trend lines show that by 2050, we will have no further need for ferries. Fares will have climbed so high and service levels cut so low that nobody will use this coastal transportation. Having reduced operating costs to zero, the executives, directors and commissioners will be able to increase dramatically the compensation they pay themselves. The ferry corporation can spend the entire contributions from both federal and provincial government on the suits in the boardrooms who made this possible.
Washington State Ferries is where management costs are a fraction of those costs at BC Ferries. The Canadian ferry system has previously claimed that traffic reductions are common to all system. The most obvious comparison is to the large system across the border and its passenger and vehicle loadings were up 335,533 in the most recent fiscal year. BC Ferries loadings declined 326,786.
Categories: BC Ferries