pk
I'm neither an economist nor financial analyst. So, bear with me.
If I we're a corporate executive by profession, headhunted by a company like Bombardier, having negotiated an agreed to salary plus performance bonuses for steering it out of the ditch, that when both parties shook hands and signed on the dotted line in agreement, I'd expect them to come good on that agreement and pay me my salary plus the bonuses as agreed. Which is exactly what Bombardier has done. These executives are on a salary (be it larger, much larger than I'll ever get) and that salary is paid each year over the term of their contracts and likely includes an annual pay rise.
Bellemare's salary has been reported as something like $1.04m plus stock options and performance bonuses to get that $9m, which he hasn't apparently hit yet, resulting in zero dollars earned from those options and performance goals.
You'd think that alone would be incentive enough to get this imperilled company turned around. Which he is doing, whether you believe it or not.
Aren't you simply spitting out numbers that haven't been paid? Numbers published by the press. Who, by the way, have nothing to gain by publishing the complete story because it wouldn't generate much interest. You aren't completing the picture by not accounting for Bombardier's income predictions after 2020. Which repeatedly is the year Bellemare thinks it will truly begin to show more positive results from the turnaround. Like completely pay off the Caisse de depot loan and start showing a ROI for the Qc government.
So, to recap. He gets $9m, if he does.
He got $1.04m, because he didn't.
Big difference.
As for Mr. Beaudoin, he's another issue entirely. He shouldn't be paid a salary, full stop. Bombardier is still owned by 'the family', whether we like it or not. What can we do about it? Call out the politicians? Like the CAQ leader, Legault? How much was he paid as Air Transat CEO?
By the way, what's your salary?
Willie
Last edited by Willie Everlearn; 7th Apr 2017 at 17:36.