PROTESTS OVER EXECUTIVE PAY JUST WON’T GO AWAY
Bombardier appears unable to shake off public anger over hefty pay packages to its senior executives. Protesters gathered outside Premier Philippe Couillard’s Montreal offices on Sunday to protest how the executives are compensated. Earlier, several dozen protesters waved signs and shouted slogans during a march that began in front of the company’s headquarters. The protesters want the Quebec government to impose conditions on companies that receive public money to ensure jobs are protected and executive bonuses limited. Bombardier has faced a storm of public criticism ever since it circulated documents showing six executives were in line for a roughly 50 per cent increase in compensation last year. The increases came despite the fact the company recently received a $372.5-million loan from the federal government, and US$1 billion from the Quebec government. CEO Alain Bellemare has since asked the company’s board of directors to delay payment of more than half of last year’s total planned compensation for six executives.