Friday, April 24, 2015

BC Ferry Fares...The Hahn In The Seawest Lounge Machine.

ProhibitivePricePoint
UberAllesVille


I remember a time, back when the man with the gold brick lined parachute was still in charge, when it was almost impossible to get the BC Liberal government minister kinda/sorta responsible to even consider the possibility that 'fares up = ridership down' was a valid equation.

But...

It would now appear that the current CEO of BC Ferries, Michael Corrigan, has jumped all the sharks in the toll booth.

Why?

Because Mr. Corrigan figures the real problem is the fact that folks are actually talking about how high fares are causing less people to take a ferry.

Seriously.

John Gleeson of the Coast Reporter has the story. Here is his lede:

BC Ferries CEO and president Mike Corrigan says the public campaign against high ferry fares is keeping tourists away and could become “a self-fulfilling prophecy” that hurts coastal economies along with the ferry system they rely on.

“At some point in time it becomes almost a pile-on effect,” Corrigan told Coast Reporter in an hour-long interview last week in which he also defended the current BC Ferries business model.

Corrigan said he knows of potential tourists who are avoiding the coastal ferry system due to the negative publicity...



Gosh.

If the good Mr. Corrigan really wants to get some proMedia traction on this latest bit of shim-sham-flimmy-flammy-jambalaya, perhaps he should call up the Keef and offer him a fun-filled plane ride to all the terminals in the realm rather than talking to folks like Mr. Gleeson.

Why would I say something like that?

Well....

You know.


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Do not get the wrong idea based on the link immediately above...This is not an official 'Keef Report'....However, if you would like to read seven or twenty of those they can be found...Here.


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9 comments:

Anonymous said...

" Corrigan said he knows of potential tourists who are avoiding the coastal ferry system due to the negative publicity. "

And somehow he can't convince the "potential" tourists that "he knows" to actually take the ferry ?

I just hope he doesn't have the same problem leaership skills at HQ.

Guy in Victoria

Anonymous said...

Does BCFerry pay any money into bc general revenue like dividend or interest?

Anonymous said...

Any profit we earn (after paying the Province an annual $6 million preferred share dividend

Norm Farrell said...

Almost 3 years ago, BC Ferries then new CEO Mike Corrigan appeared with Liberal associate Sean Leslie on CKNW. He said,

"...Throughout the year, we lost $30 million more in revenue than we expected but we were able to claw back all of that and a bit more through good financial management..."

"...Our gift shops - that part of the business is actually really growing significantly over the last year. We're seeing double digit increases year over year. So we're doing what we can to generate revenues wherever we can and managing costs..."

Actually.... According to audited financial statements, BCF revenue in fiscal year 2012 was up by $15 million over the previous year, while traffic was down 1.5%. Unfortunately, expenses increased $21 million. So much for good management clawing something back.

Additionally, were retail sales growing by double digit increases, year over year? Here are some actual results:

2010 retail sales $80.8M
2012 retail sales $76.5M
2014 retail sales $78.9M

2010 gross profit $50.7M from retail
2012 gross profit $47.4M
2014 gross profit $48.1M

The numbers demonstrate one of two possibilities:

1. Corrigan was ignorant of facts but spoke about business results based on hope.

2. Corrigan knew the facts but thought truth would not serve the corporate purposes.

If he was ignorant, he's the wrong person in that position and BC Ferries has wasted the millions of dollars paid for his salary, bonuses and pensions.

If he felt no need to tell the truth to the public that ultimately pays his remuneration, he's the wrong person in that position and BC Ferries has wasted the millions of dollars paid for his salary, bonuses and pensions.

Anonymous said...

There is a puff piece on Mike Corrigan written by Shannon Moneo, special for the Globe and Mail the day after he makes himself look like a fool. Not a coincidence I think. This must have been planted by a P.R. Firm for the rich and famous!

Anonymous said...

Public ,being tired of the ,obfuscation at times,.reporters please ask any interviewed person if their statements would hold up under scrutiny and or court of law.
Basically factcheck.?
Nothing worse than facts ,fact checking,to ruin a politicians day?

Elwood Thomas said...

I don't ride because of humungous UNDESERVED bonuses paid to execs. Lose $15m & still get a bonus 4x what most make in a year.
But fear not citizens
...Todd is on his way to "lambaste" them.

RossK said...

Thanks Everyone--

Follow-up post comin'.....


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e.a.f. said...

How stupid does Corrigan think we are? O.K. we still have a B.C. Lieberal party in office, but that aside; I know a few years ago, there would be fare reductions and I used them every time to go over. When I moved to Vancouver Island 15 years ago I used the ferries every 4 to 6 weeks. Now I simply refuse to pay that money. I know when I'm being ripped off.

If Corrigan things people don't use the ferries because high prices are being talked about, that man needs to stop using B.C.'s best product. Everybody in this province knows how much a ferry trip cost. Might as well go somewhere else for the vacation. People on the Island, they can exit via Victoria to the U.S.A at a substantial reduction for their R.V. equipment.

Corrigan needs to realize people know how to count, they know what their money is worth, they know how much they have to fork over to the B.C. Ferries. If people want to give their money away, most prefer to give it to a local charity and B.C. Ferries isn't one of them. If loaded with B. of D. and CEOs. who are over paid. The only ones working for their money are those working on the ferries and at the terminals. They are the only ones who make my trip good.

As the saying goes, they couldn't manage a screw in a whore house.