Bonuses trimmed for CP executives as profit falls 36%
Article Abstract:
Canadian Pacific Ltd (CP) has lessened significantly the bonuses of its executives. CP did not explain why the cuts were made, but it posted a 36% decline in its 1998 profit, amounting to $801 million on revenue of $10.2 billion. Chmn David O'Brien's bonus was cut 31%, while the bonus cut of executive vp Willaim Fatt was 9%. CP executives who successfully achieve their targets receive bonuses ranging from 30% to 50% of their base salaries.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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CN clears hurdle in Illinois Central bid
Article Abstract:
Canadian National Railway Co (CN) has cleared a major obstacle in its planned $2.4-billion acquisition of Chicago, IL-based Illinois Central Corp after passing the environmental test conducted by the US Surface Transportation Board. The board concluded that the CN-Illinois Central merger would result in some environmental hazards, but the benefits that could be derived from the deal far outweigh the disadvantages.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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Comment about this article or add new information about this topic:
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