CEO salaries are way out of hand

Dear editor: It was announced that the CEO of Hydro One will receive $6 million a year. That’s a hefty wage. Hold on to your hats. These people also receive performance bonuses. That aren’t in the wages agreement. They will also receive standby pay, travel allowances, extended medical and dental benefits and pensions. When all is said and done it isn’t conceivable to see that their take-home pay jump to$7 million a year.

Sure Hydro One is owned by the people of Ontario, but here in B.C. we have a CEO of BC Hydro and she or he’s going to want the same contract. Crown corporations are assets owned by the people.

Unfortunately, the private sector is even worse.

The greed of these top executives is disgusting. These people, through their contracts, are able to buy stocks with their company at below market value and vote for their wages, benefits, and performance bonuses — all this even if the company or corporation is losing money.

That means people without these rights who invest in these corporations are not getting back all they should from their investments.

If governments around the world passed a law preventing this abuse of senior executives voting for their wages and benefits, this would level the playing field for all investors.

What should these senior people make? When one considers that a doctor or a dentist with eight years of university, do they take home a million dollars? The answer is no.

In any occupation that you can name that you don’t run, a million-dollar pay cheque isn’t normal.

Now a simple business and administration course with the right breaks can get a person there.

Could these individuals do surgery in and/ or, teach a classroom full of children or reconnect power lines in -30 C in an open basket?

I am of the opinion that CEOs should start policing themselves and reduce their wages and benefits.

Stan New Prince George