Monday, July 21, 2014

Executive Pay Imbroglio In Snookland (ctd.)...


On the weekend we responded to Mike Smyth's latest column in which we reckoned that the very finest of the fine political columnist from the Province had missed the point regarding Mike de Jong's 'disappointment' with all these government(ish) contracts for the execs with the hidden pay-package sweetners.

In response, two readers, Norm Farrell and Lew, made excellent points regarding what is really going down here....

Norm Farrell wrote:
Any responses made by a Liberal ministers would be insincere theatrics. Remember the claims published before the last election? Here's a sample from the Vancouver Sun:

"VICTORIA — British Columbia has launched a crackdown on lavish pay packages for executives at most Crown corporations, instituting an indefinite wage freeze and reining in the perks they can receive..."

Well, how does that declaration square with reality? Here's the restraint suffered by by some of BC's highest paid civil servants:

Doug Pearce, CEO of bcIMC, annual remuneration:
- FY 2011 $ 1,029,218
- FY 2012 $ 1,280,786
- FY 2013 $ 1,582,186
- FY 2013 $ 1,806,345 (76% over 3 years)

Lincoln Webb, VP of bcIMC (one of more than a dozen VP's), annual remuneration:
- FY 2011 $ 724,507
- FY 2012 $ 866,777
- FY 2013 $ 1,035,871
- FY 2014 $ 1,198,308 (65% over 3 years)

Bryan Thomson, VP of bcIMC, annual remuneration:
- FY 2011 $ 553,689
- FY 2012 $ 702,447
- FY 2013 $ 847,759
- FY 2014 $ 990,367 (79% over 3 years)

Even without the latest year of double digit raises, the BC operation was paying three to five times the remuneration going to Washington State executives doing similar tasks, with a history of better results.

Leaves one wondering what the money managers at bcIMC know that keeps them exempt from restraints.

Lew wrote:
The Financial Administration Act empowers Mike the Finance Minister to recover public funds paid contrary to an enactment, or to launch a claim for recovery to remedy an injury, loss or damage in a specified or ascertainable amount that occurred as a result of an act or omission. There is a six-year limitation on the right to claim.

If public funds have been paid contrary to an enactment, or in a manner that has caused injury, loss or damage in a specified or ascertainable amount to the government, Mike the Finance Minister has a duty to recover said funds on our behalf and the power to do so. Instead he goes on record with an official pout and imposes disparate “penalties” for show. This because it’s all he can do given the way he and his government boss lady operate. By design, they haven’t done the necessary front-end work.

Norm Farrell has very well documented the real problem here. There is one government expectation for compensation of unionized government workers, the disabled, or children in need, and another for OIC appointees, favored contractors, senior bureaucrats, and all manner of parasitic sycophants that can be regularly spotted moving from curtain to curtain behind the BC Liberals in their many houses. The former expectation is a hard and fast zero vigorously enforced, while the latter is a privileged trough designed deep enough not to runneth over and alert the unwashed masses. When it does, Mike the Finance Minister can only act disappointed and look behind the curtain for a new trough designer.

Meanwhile Mike the legislative entertainment writer does some acting of his own.

'Nuff said?



Anonymous said...

Well said. And thanks to those who care enough to do a little research. The MSM is proving once again to be a useless tool for information that taxpayers deserve.

Guy in Victoria

Anonymous said...

NDP wake the f up.

public contract political giveaway?at expense of public safety.?

John's Aghast said...

More preaching to the choir! Isn't there anyone out the with some energy, smarts and enough charisma to direct the 'choir'? Perhaps we should be instigating a private legal suite in order to regain some of this ill-gotten spoil.
Seems to me we're all to polite to 'raise a stink', but it'll be a whole lot less stinky than if we let it fester and erupt later on.

Lew said...

Mike the Finance Minister used to be Mike the Attorney General. And he told Mike the legislative entertainment writer back in January of 2011 that, “The reason I understand how frustrated and angry people were is I felt the same thing.”

He was talking about the $6 million-dollar payoff to Basi and Virk to end the BC Rail trial. The deal that he was told about a full ten days before his subordinates made it happen, and which he had full authority (and I would argue, the duty) to stop if he was truly frustrated and angry about it.

It seems that Mike the Attorney General has a history of leaving crocodile tears on Mike the legislative entertainment writer’s shoulder.

scotty on denman said...

I recall a number of Mike-isms uttered at various portfolios he has cried over, not just Finance. And no, those aren't alligator shoes a finance minister might sport on budget day, those are evaporite rings encrusting puddled "tear" drops that are almost dry before they hit the ground.

How does Mike get away with it? I think its partly because he's got that mean high school vice-principal look that has surely traumatized many an aspiring MSM journalist. It's the stress that warns them off digging deeper for accountability. Believe me, without that scowling frown, he'd be nothing.

motorcycleguy said...

Lets take out a 1/8 page invitation in the Province for Mike, Mike, Keith, Vaughan and even Bill Bennett to attend a gathering at our house. They are professional entertainers and as such should not be shy about being around small groups and appearing in the YouTube. They would come across as stars schooling a bunch of nincompoops....while Norm's graphs play on the medium screen TV behind the bar. I'm sure we could come up with their UBCP/ACTRA fees to make it all legit.

Hugh said...

Where do I send my application to work at bcIMC? I'm a hard worker and I have my own calculator.

RossK said...

Thanks everybody.

And thanks to Lew for the serious point about that 10 delay in the Railgate payout 'decision'.

But boy, I've gotta say, in my humble opinion motorcycle guy wins this comment thread.


motorcycleguy said...

Hugh, I think you have a real shot at it....check out

Seems like if you have a couple of years experience, can operate a photocopier and have a general are in like Flynn.

"The Trader should have a general understanding of the fundamentals of capital markets."

The Supervisor, Corporate Relations needs to be "proficient in the use of general office equipment."

As for the Real Estate Administrator position "The skill set required for this position would typically be acquired through two or more years of administrative experience in an office environment"