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Toronto Crosstown LRT | ?m | ?s | Metrolinx | Arcadis

dowlingm said:
I think it’s amazing that people on here can assert that Verster can singlehandedly decide to keep closed or force open a transit line irrespective of the provisions of a contract none of them have read, and which has already been subject to serious litigation
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Verster is responsible for this project as he's the ceo of ML. He publicly threw CTS under the bus and started a public feud with them. From that point onward CTS has been working under a cloud of animosity so any incentive to do extra for this project was gone. Just like the ceo of Boeing it may not be his fault for any individual issue, but the collective failure to deliver on time is his burden to shoulder and answer for.
 
dowlingm said:
I think it’s amazing that people on here can assert that Verster can singlehandedly decide to keep closed or force open a transit line irrespective of the provisions of a contract none of them have read, and which has already been subject to serious litigation
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Reminds me when people say Walmart (or insert x company) should fire their overpaid ceo (what's fair pay?) so that the employees can get a 1 time payment of 45 cents 🤣
 
turbanplanner said:
Reminds me when people say Walmart (or insert x company) should fire their overpaid ceo (what's fair pay?) so that the employees can get a 1 time payment of 45 cents 🤣
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I think what people are more upset about is the absurd disparity of pay between a CEO and regular employees. Moreover, CEO pay routinely gets ratcheted up, while worker pay is held flat or increased under the rate of inflation, causing real wage decreases.

That’s what’s driving those “fire the CEO” comments.
 
turbanplanner said:
Reminds me when people say Walmart (or insert x company) should fire their overpaid ceo (what's fair pay?) so that the employees can get a 1 time payment of 45 cents 🤣
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Aside from being completely irrelevant and incomparable, no one says CEOs should be removed for one-time payments to employees. Companies need CEOs, it's the pay disparity and "maximizing shareholder value trumps all"-mentality that's the problem.
 
zang said:
Aside from being completely irrelevant and incomparable, no one says CEOs should be removed for one-time payments to employees. Companies need CEOs, it's the pay disparity and "maximizing shareholder value trumps all"-mentality that's the problem.
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I think the point was, the excesses of executive pay (which are indeed hard to justify) don't add up to enough payroll dollars to help the rank and file achieve a raise.

Suppose the CEO of a global corporation with 10,000 employees is making a million dollars too much (by someone's standards). So you take the million away from the CEO and pay the employees $100 each.....not really material.

The really egregious overpaid execs who make the papers may employ 100,000 people worldwide. I'm not saying things are fair, but the excess money paid to execs can be small change in the corporate cash flow, where a 5% eaise to workers is bigger coin.

- Paul
 
crs1026 said:
I think the point was, the excesses of executive pay (which are indeed hard to justify) don't add up to enough payroll dollars to help the rank and file achieve a raise.

Suppose the CEO of a global corporation with 10,000 employees is making a million dollars too much (by someone's standards). So you take the million away from the CEO and pay the employees $100 each.....not really material.

The really egregious overpaid execs who make the papers may employ 100,000 people worldwide. I'm not saying things are fair, but the excess money paid to execs can be small change in the corporate cash flow, where a 5% eaise to workers is bigger coin.

- Paul
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$100 is material when you are broke. If a CEO sees fit to accept a raise, the workers should also get one. They also contributed to making that profit for the company. You are not a good shepherd if you don't first take care of your flock and would rather feed the wolves of Wall street.
 
Natika33 said:
$100 is material when you are broke. If a CEO sees fit to accept a raise, the workers should also get one. They also contributed to making that profit for the company. You are not a good shepherd if you don't first take care of your flock and would rather feed the wolves of Wall street.
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I've long been in favour of a legislation limiting total compensation at the top being a multiplier of the compensation of the lowest paid employee. A 20:1 ratio sounds good. If the lowest paid employee makes $50,000 in total compensation, the top exec can make $1,000,000 in total compensation. If that CEO/Board wants more money or make the job more attractive when searching for new execs, there's a simple solution; boost every one else's pay too.
 
zang said:
I've long been in favour of a legislation limiting total compensation at the top being a multiplier of the compensation of the lowest paid employee. A 20:1 ratio sounds good. If the lowest paid employee makes $50,000 in total compensation, the top exec can make $1,000,000 in total compensation. If that CEO/Board wants more money or make the job more attractive when searching for new execs, there's a simple solution; boost every one else's pay too.
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That seems incredibly easy to loophole. Easy Example: You now hire to an arms length shell firm who acts as a contracting company, and is led by a puppet leader who has a meager salary.

And I don't think there is a way to fix this without completely neutering the business of many genuine contracting companies.
 
ARG1 said:
That seems incredibly easy to loophole. Easy Example: You now hire to an arms length shell firm who acts as a contracting company, and is led by a puppet leader who has a meager salary.

And I don't think there is a way to fix this without completely neutering the business of many genuine contracting companies.
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Even easier loophole. They will just pay the CEO in stock options.
 
ARG1 said:
That seems incredibly easy to loophole. Easy Example: You now hire to an arms length shell firm who acts as a contracting company, and is led by a puppet leader who has a meager salary.

And I don't think there is a way to fix this without completely neutering the business of many genuine contracting companies.
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If your business model only works if you pay full time workers less than a living wage, it’s already broken.

Too many businesses nowadays are allowed to survive solely on the exploitation of the public, through under pay, tax loopholes, or over subsidy.
 
asey20 said:
Even easier loophole. They will just pay the CEO in stock options.
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Even easier loophole. Get rid of the lowest paid employees entirely.
Not a new idea either, but one much easier than ever now thanks to automation options and outsourcing.
 
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