February 8, 2024 news item:
BCE slashes 9% of workforce, puts blame at the feet of regulators and policymakers. The cuts affect about 4,800 jobs and follow the elimination of 1,300 jobs last June.
Bell chief legal and regulatory officer Robert Malcolmson said,
It’s really the current regulatory and public policy environment that’s causing profound structural change and that we have to mitigate through the measures we’re announcing today.
Another February 8, 2024 news release:
BCE reports 2023 Q4 and full-year results and 3.1% annual dividend increase to $3.99 per share:
- All 2023 financial guidance targets achieved,
- 5.3% consolidated adjusted EBITDA growth in Q4 yielded 1.9 percentage-point increase in adjusted EBITDA margin to 39.7% — best quarterly result since Q1 2022,
- Cash flows from operating activities up 15.4% in Q4 to $2,373 million; free cash flow1 increased $913 million in Q4 to $1,289 million on lower capital expenditures…
Mirko Bibic, president and CEO of Bell Canada since January 2020, received $13.59 million in total compensation last year. That’s up nearly 20 per cent, or $2.45 million, from the previous year.
Wade Oosterman, meanwhile, who serves as president of Bell Media, collected nearly $4.88 million in total compensation last year, including a base salary of $900,000.
Rogers Rogers president and CEO Tony Staffieri, who made $31.52 million in 2022.
Toronto Star
John Kenneth Galbraith:
Under capitalism,man exploits man. Under communism, it’s just the opposite.
Categories: Economics
in-sights.ca 
Some people are more honest about their motives..
https://variety.com/2003/legit/markets-festivals/eric-idle-s-greedy-bastard-tour-1200537247/
TB
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As the federal government allows CEO’s of major companies to receive unrealistic compensation packages, they are allowing the rape of both stockholders and taxpayers.
Our media in Canada has been all but destroyed by major corporations and woe to the reporter who reports anything other than the corporate mandate, for the reporter will be soon out of a job.
The federal government, if it had any backbone, should strip Bell of all its media assets and sell them with a stipulation that no no one should own more than 6 media outlets in Canada, which cause a cascade of smaller far more independent companies to rise, which will lead to more independent reporting, which is only good for the survival of this country.
Sadly both the NDP and Liberals have no backbone for this and shockingly high pay for the CEO’s and board members will continue unabated, with what news to be reported or not made by hedge fund owners in the USA.
maybe we should bring back the Combines Act of 1923 as what we have on the books today is next to useless.
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W5 gone?
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