Non-Stop Greed
In a word, (cupidity) that seems to describe former Hydro One CEO Eleanor Clitheroe. Her sense of personal worth and entitlement appears to know no bounds. Even while, in more recent history she has been ordained by the Anglican Church, and those associated with that church speak of her as a really lovely person. Which she well may be, if you're not paying her salary. When the people of Ontario paid her salary they most certainly did not think fondly of her.
That old saying about a leopard not being able to change its spots applies perfectly well to this woman. She had sued to have her original (beyond gold-plated) pension agreement honoured by the Government of Ontario which thought otherwise. Now Ontario Superior Court Justice Ruth Mesbur has ruled that Ms. Clitheroe's Charter Rights were not violated when then-Premier Ernie Eves introduced Bill 80 legislation clamping down on exorbitant pensions and salaries at Hydro One.
Talk about a sweetheart deal. It wasn't enough for this woman that she brought home a whopping salary of $2.2 million in the year she was fired (2002) by the new interim board of directors over "an issue of corporate governance and inappropriate behaviour at the most senior level of the company". Her salary at that time was $1.6 million, with a $214,000 car allowance, another $330,000 in limousine fees, and including membership in seven "ultra-exclusive" private clubs (entrance fees of up to $60,000). Oh yes, more than $172,000 cashed out representing unused vacation credits.
She thought it would be a nifty idea if Hydro One paid for an expensive new yacht for her husband to captain in competitive yacht-sporting events. She felt that it was reasonable to bill the taxpayer for limousine trips for her two children and their nanny; hence the $330,000 in limousine fees. And, not to be overlooked, a new Mercedes annually. She had been appointed by Conservative Premier Mike Harris, he of the famous "Common Sense Revolution", who gutted social services to save provincial taxpayer revenues.
Following hard on the heels of a NDP government headed by Bob Rae who had hired Maurice Strong to head the predecessor of Hydro One, Ontario Hydro. Mr. Strong, as CEO of Ontario Hydro tried to cut costs, lamented the dreadful money hole Ontario Hydro had collapsed into, and offered to cut his own, by comparison, modest salary. What a contrast in character and style. Mr. Strong thought it would be a good idea for Ontario Hydro to spread its wealth around - in other, undeveloped economies. Ms. Clitheroe felt Hydro One needed to develop her economic bottom line.
When Hydro One paid for renovations to Ms. Clitheroe's Toronto home to the tune of $40,000 she was complacent with that until it became public knowledge, along with the extent of her other entitlements. She speedily repaid that sum. And was then fired. Ms. Clitheroe challenged the provincial government for the amount of her pension. Feeling she was entitled to receive $33,644 a month (gasp!), and not the $25,637 a month (gasp!) she will be entitled to when she turns 65.
Guess the very nice woman who is now an Anglican clergywoman will have to learn to live on $25,637 a month in her disappointed elderly years. Pity that things don't always work out as people feel so passionately they should.
That old saying about a leopard not being able to change its spots applies perfectly well to this woman. She had sued to have her original (beyond gold-plated) pension agreement honoured by the Government of Ontario which thought otherwise. Now Ontario Superior Court Justice Ruth Mesbur has ruled that Ms. Clitheroe's Charter Rights were not violated when then-Premier Ernie Eves introduced Bill 80 legislation clamping down on exorbitant pensions and salaries at Hydro One.
Talk about a sweetheart deal. It wasn't enough for this woman that she brought home a whopping salary of $2.2 million in the year she was fired (2002) by the new interim board of directors over "an issue of corporate governance and inappropriate behaviour at the most senior level of the company". Her salary at that time was $1.6 million, with a $214,000 car allowance, another $330,000 in limousine fees, and including membership in seven "ultra-exclusive" private clubs (entrance fees of up to $60,000). Oh yes, more than $172,000 cashed out representing unused vacation credits.
She thought it would be a nifty idea if Hydro One paid for an expensive new yacht for her husband to captain in competitive yacht-sporting events. She felt that it was reasonable to bill the taxpayer for limousine trips for her two children and their nanny; hence the $330,000 in limousine fees. And, not to be overlooked, a new Mercedes annually. She had been appointed by Conservative Premier Mike Harris, he of the famous "Common Sense Revolution", who gutted social services to save provincial taxpayer revenues.
Following hard on the heels of a NDP government headed by Bob Rae who had hired Maurice Strong to head the predecessor of Hydro One, Ontario Hydro. Mr. Strong, as CEO of Ontario Hydro tried to cut costs, lamented the dreadful money hole Ontario Hydro had collapsed into, and offered to cut his own, by comparison, modest salary. What a contrast in character and style. Mr. Strong thought it would be a good idea for Ontario Hydro to spread its wealth around - in other, undeveloped economies. Ms. Clitheroe felt Hydro One needed to develop her economic bottom line.
When Hydro One paid for renovations to Ms. Clitheroe's Toronto home to the tune of $40,000 she was complacent with that until it became public knowledge, along with the extent of her other entitlements. She speedily repaid that sum. And was then fired. Ms. Clitheroe challenged the provincial government for the amount of her pension. Feeling she was entitled to receive $33,644 a month (gasp!), and not the $25,637 a month (gasp!) she will be entitled to when she turns 65.
Guess the very nice woman who is now an Anglican clergywoman will have to learn to live on $25,637 a month in her disappointed elderly years. Pity that things don't always work out as people feel so passionately they should.
Labels: Economy, Life's Like That, Realities
posted by Pieface | 5:47 PM
0 Comments:
Post a Comment
<< Home