Two B.C. Railway Company executives will collect a total of almost $600,000 in severance payments when they lose their jobs by the end of March.
Transportation and infrastructure minister Shirley Bond provided the details yesterday under questioning in the legislature from New Democratic Party MLA's Leonard Krog and Doug Donaldson about what will happen when the government moves B.C. Rail into the provincial government.
Three of B.C. Rail's four executives will lose their jobs this year, Bond said. Two, president and CEO Kevin Mahoney and executive vice-president real estate John Lusney, have been given their notice and will go by March 31. They'll receive severance payments of $392,000 and $203,000, though Bond did not say who will receive which amount.
Bond said the government will employ B.C. Rail's CFO until around December, but he has not yet been given notice and the severance payment amount has not yet been determined. B.C. Rail's vice-president finance and CFO is Kevin Steinberg.
The government will keep a fourth executive, B.C. Rail's vice-president operations and corporate affairs, Gordon Westlake, Bond said. “There is a significant degree of work that we'll be transferring over to the ministry,” she said. There is a significant real estate portfolio and the CN revitalization agreement to manage, she said.
“It's about time and one wonders what the delay was,” said NDP finance critic Bruce Ralston, noting the four executives have continued collecting their full salaries despite overseeing an operation that “shrank dramatically” in 2004.
Andrew MacLeod is The Tyee’s Legislative Bureau Chief in Victoria. Reach him here.
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DPL
2 years ago
so a lot of heat that
so a lot of heat that Gordo's gang didn't expect has forced them to fire a few folks off the gravy train.Must watch to see what their next cushy deal will be with Gordo and Co.
doggone
2 years ago
When it looks and smells like something
And sticks on your boot - it is very likely something sticky and smelly.
Much as I despise the Junior Socreds running this Province just now I have to conclude that the province has the government they voted for - which implies that a portion of B.C.ers (enough to support shennanigans like this) find no problem with the current settup - forgive me I was up in the Okanagan till yesterday with a bunch of farmers. They might not be impressed with Campbell and the henchmen (and a lady or two) but they sure don't trust the commies
Barryeng
2 years ago
Sweet Deal
Do little or nothing for six years, at a very large salary, and then get an even bigger severance package when political preassure finally gets too strong. Gawd I must be doing something wrong for not managing to find that gravy train.
freebear
2 years ago
Super Natural Payback BC!
I guess it's what MLA's anticipate for them once they leave politics to 'spend more time with the family'!