NB Power asks workers to support CEO whose contract is up for renewal
The news at the top-of-the-clock Thursday was how President Obama was capping the salaries of top U.S. bank executives at $500,000.
From what I hear, taking home $14-million-bucks a year plus bonuses wasn’t an unheard of practice for these top executives in the past.
Now they’ll have to live a little closer the people who drive 10 year-old cars cause they can’t afford newer ones or dread the power bill in the middle of winter.
But only a little closer, cause not too many people I know make half-a-million bucks a year.
But there’s one guy I’ve heard about who comes awfully close.
His name is David Hay and he’s the president and CEO of NB Power.
Hay received a $96,000 bonus on top of his $375,000 salary this year putting his earnings at $471,000.
Statistics Canada says the average wage of New Brunswickers age 25 to 54 is $20.18 an hour.
If you broke down Hay’s salary alone into an hourly wage, he’s making more than $180 an hour. That’s nine times the average wage.
When you look at the people in this province who literally have to decide between keeping themselves warm or eating today, it boggles the mind why some paper pusher makes so much for so little.
As if that wasn’t bad enough, CBC has reported that groups of NB Power workers were recently rounded up into Fredericton meeting rooms with their supervisors present and asked to sign a letter of support for Hay.
Seems his five-year contract is just about up and with all the negative press he’s been getting for massive rate hikes, falling behind schedule on the billion-and-a-half dollar Point Lepreau refurbishment project and the lottery-winning-sized paycheque he’s raking in every year, the powers-that-be at the power company wanted to protect old Davey boy’s job so he doesn’t miss any meals.
Too bad there’s no one down in Fredericton doing the same for average folks in New Brunswick, but at least Dave Hay gets to make hay while the sun shines.
The letter workers were asked to sign praises Hay for his work on several projects and his "outstanding leadership."
The letter continues with the usual butt-kissing drivel overpaid government middle-management types always seem to write about their superiors.
For example. "This document is our way of demonstrating our support for you as president and CEO of NB Power. David, please accept this as our appreciation for what you have given us, and a clear message of our unwavering belief in your direction."
Laughable.
In the report, NB Power spokeswoman Heather MacLean said it’s not clear who wrote the letter in support of Hay or who instigated the process allowing it to be distributed in the way it was.
MacLean said the utility would not comment on personal matters of employees and wouldn’t confirm who wrote the letter or who was in charge of circulating it to staff.
Shocking. Get it? Shocking?
Conservative Opposition Leader David Alward said NB Power employees should be focused on lower rates and dealing with Point Lepreau's deadline problems, not whether the president will be back.
I wholeheartedly agree. And I know I’m not alone.
I think now’s a good time to restructure NB Power and when I say restructure I mean start chopping those hundred-thousand-dollar-plus jobs. Maybe the utility could lower power rates if we weren’t carrying all that dead weight at the top. At least it would be a start.
Hay’s contract ends in March. Hopefully it stays ended.
From what I hear, taking home $14-million-bucks a year plus bonuses wasn’t an unheard of practice for these top executives in the past.
Now they’ll have to live a little closer the people who drive 10 year-old cars cause they can’t afford newer ones or dread the power bill in the middle of winter.
But only a little closer, cause not too many people I know make half-a-million bucks a year.
But there’s one guy I’ve heard about who comes awfully close.
His name is David Hay and he’s the president and CEO of NB Power.
Hay received a $96,000 bonus on top of his $375,000 salary this year putting his earnings at $471,000.
Statistics Canada says the average wage of New Brunswickers age 25 to 54 is $20.18 an hour.
If you broke down Hay’s salary alone into an hourly wage, he’s making more than $180 an hour. That’s nine times the average wage.
When you look at the people in this province who literally have to decide between keeping themselves warm or eating today, it boggles the mind why some paper pusher makes so much for so little.
As if that wasn’t bad enough, CBC has reported that groups of NB Power workers were recently rounded up into Fredericton meeting rooms with their supervisors present and asked to sign a letter of support for Hay.
Seems his five-year contract is just about up and with all the negative press he’s been getting for massive rate hikes, falling behind schedule on the billion-and-a-half dollar Point Lepreau refurbishment project and the lottery-winning-sized paycheque he’s raking in every year, the powers-that-be at the power company wanted to protect old Davey boy’s job so he doesn’t miss any meals.
Too bad there’s no one down in Fredericton doing the same for average folks in New Brunswick, but at least Dave Hay gets to make hay while the sun shines.
The letter workers were asked to sign praises Hay for his work on several projects and his "outstanding leadership."
The letter continues with the usual butt-kissing drivel overpaid government middle-management types always seem to write about their superiors.
For example. "This document is our way of demonstrating our support for you as president and CEO of NB Power. David, please accept this as our appreciation for what you have given us, and a clear message of our unwavering belief in your direction."
Laughable.
In the report, NB Power spokeswoman Heather MacLean said it’s not clear who wrote the letter in support of Hay or who instigated the process allowing it to be distributed in the way it was.
MacLean said the utility would not comment on personal matters of employees and wouldn’t confirm who wrote the letter or who was in charge of circulating it to staff.
Shocking. Get it? Shocking?
Conservative Opposition Leader David Alward said NB Power employees should be focused on lower rates and dealing with Point Lepreau's deadline problems, not whether the president will be back.
I wholeheartedly agree. And I know I’m not alone.
I think now’s a good time to restructure NB Power and when I say restructure I mean start chopping those hundred-thousand-dollar-plus jobs. Maybe the utility could lower power rates if we weren’t carrying all that dead weight at the top. At least it would be a start.
Hay’s contract ends in March. Hopefully it stays ended.
posted by Street Wise Guy | 12:33 PM
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