Financial and economic considerations, not political perception, should guide business decisions. Boards should base executive compensation on what the executives in question are worth, not “optics” or “people’s perceptions” of excessive business profits. Loblaw is a company worth, at time of writing, $40.7 billion, which includes the value not only of its grocery business, but its pharmacy and bank.
It is also far from certain that giving the CEO a pay raise is bad optics in any real way. Grocery shoppers choose where to shop based on prices, quality, variety and convenience. No one chooses their grocery store based on which pays their CEO the least. Or at least, no serious person does – Jagmeet Singh and other moralizing socialists might. Meanwhile, rewarding corporate executives for good performance resonates with employees and investors.
Jagmeet Singh’s objections to Loblaw’s profits and its CEO’s compensation is the standard socialist tripe that corporate profits and executive compensation represent a loss to consumers and ordinary workers. We may soon hear him insisting that a surgeon’s income reduces the welfare of the patients on whom he or she operates, that star athletes’ salaries are a loss to the fans who pay for them through ticket prices, and that restaurant diners are made worse off if the chef is paid more.
Deserves? For working unethically? For using his wealth, privilege and political connections to deny fair living wages to employees? So as to amass obscene profits? For not paying his fair share? No - he does not deserve that bonus.
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It'll be our business, all we have to do is nationalize Loblaws and expropriate the unpaid wages and gouged prices Galen Weston pretends are his 'assets.' Canada's grocery cartels are crime syndicates and will be treated as such when justice exists in this country.
Lick those boots.
Ain't nuthin anyone does to earn multiple millions of dollars a year. You can't earn that.
Because all the customers being ripped off to make Weston uber-wealthy don't matter to loblawco
Exactly!!!
The people who work in his stores and on the front lines have more than earned raises, but they aren't getting massive raises, they aren't getting big bonuses. Instead they had their hero pay cut.
Mathew Lau received a Loblaw gift card for his wonderful reporting
2 words ... Tongue & Ass
The government stirring up anger over CEO pay, grocery store profits, bank profits, and generally successful businesses/ isn't productive! Productive and successful businesses pay taxes, employ people who pay taxes, and generally improve the quality of life in society!
LMAOOOOOOO matlau10
Always a billionaire boot licker at Fox North.
‘moralizing socialists….’ But, corporate socialism is kindly accepted. Just don’t include workers.
It is other people’s business when Loblaws recovers multi-millions in government funding and subsidies.