The Canadian Taxpayers Federation has launched a campaign designed to “sink BC Ferries’ gravy boat.”
The government spending watchdog has started a petition calling on Victoria to cut back executive salaries and bonuses and make BC Ferries answerable to the Minister of Transportation. The CTF also wants the Crown corporation to operate under government rules around executive compensation, bonuses and collective bargaining mandates.
“BC Ferries’ board and executives are a system gone sour: an endless repeating loop of big raises, outrageous bonuses and more handouts from taxpayers,” said Jordan Bateman, B.C. director of the CTF.
On September 10, Transportation Minister Todd Stone gave the CEO of BC Ferries 30 days to fix the company’s bonus system.
At the end of August, BC Ferries reported that CEO Mike Corrigan made $563,000, including bonuses. Vice-president Robert Clarke made $492,207, including a $133,711 bonus, and vice-president Glen Schwartz took home $491,643, including a $127,008 bonus.
By comparison, said the CTF, the CEO of Washington State Ferries made $165,943.
Corrigan defended the bonuses, saying the company had saved $26 million in cost-reduction measures.
In April, BC Ferries raised fares by 4%.
