And just how much of it will be used in executive compensation?
EDIT: While I am in support of more funding for local news coverage my comment is in reference to the $3.3 million in bonuses paid to 45 executives after having laid off 141 employees back in August.
In the context of executive wages, it’s important to contrast this to what the industry standard is. We’re not reinventing capitalism overnight (nor is it the argument being litigated), and fair market incentives must be competitive to retain talent. It’s not a matter of whether someone agrees fair market is right or not - it’s the reality of how society currently functions (and I point out because this is almost always the fundamental principle to most of these arguments).
An aggregate $73k bonus is generally very small in executive talent pool - the article also goes on to point out the rest of the employee base also got $15k. Neither of these are particularly glaring.
Instead consider Catherine Tait (CBC) - her base salary is ~$500k, with a target bonus of 7-28% (~$30k-$155k) and no additional incentives. That makes her max total compensations about $700k at best (and generally more like $600k). This is super low for a typical pay band at the CEO level.
Contrast this to Andrew MacLeod (PostMedia) - his base salary is $1.1M, with his incentives (bonus, rsu/PSU, stock, etc.) in the same 2024 year $785k, making his total compensation $1.89M, or triple Taits.
Looking around at a number of these, the CBC is pretty consistently on the low end of these ranges, especially when considering the size of the organization.
I’m essentially pointing out your comment argued the opposite of your stance.
Publicly funded local news is really important. The right wing propaganda often flies under the radar when it comes to local news outlets that are part of some large billionaire-owned corporation.
And just how much of it will be used in executive compensation?
EDIT: While I am in support of more funding for local news coverage my comment is in reference to the $3.3 million in bonuses paid to 45 executives after having laid off 141 employees back in August.
In the context of executive wages, it’s important to contrast this to what the industry standard is. We’re not reinventing capitalism overnight (nor is it the argument being litigated), and fair market incentives must be competitive to retain talent. It’s not a matter of whether someone agrees fair market is right or not - it’s the reality of how society currently functions (and I point out because this is almost always the fundamental principle to most of these arguments).
An aggregate $73k bonus is generally very small in executive talent pool - the article also goes on to point out the rest of the employee base also got $15k. Neither of these are particularly glaring.
Instead consider Catherine Tait (CBC) - her base salary is ~$500k, with a target bonus of 7-28% (~$30k-$155k) and no additional incentives. That makes her max total compensations about $700k at best (and generally more like $600k). This is super low for a typical pay band at the CEO level.
Contrast this to Andrew MacLeod (PostMedia) - his base salary is $1.1M, with his incentives (bonus, rsu/PSU, stock, etc.) in the same 2024 year $785k, making his total compensation $1.89M, or triple Taits.
Looking around at a number of these, the CBC is pretty consistently on the low end of these ranges, especially when considering the size of the organization.
I’m essentially pointing out your comment argued the opposite of your stance.
You’ve given me a lot to read up. I appreciate the write-up.
He’s also expanding their mandate to cover more local news, so that’s going to have a lot of costs that won’t be going to executives.
I’m certainly looking forward to better local coverage.
Publicly funded local news is really important. The right wing propaganda often flies under the radar when it comes to local news outlets that are part of some large billionaire-owned corporation.
Some amount. And the rest would be used to pay salaries for existing and new staff who produce Canadian news and entertainment.