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smartzuuk
http://www.vancouversun.com/news/Ferries+b...4890/story.html

I loved the last line:

Total savings are estimated at $11 million. Even with that, business is down sufficiently that the ferries are expected to lose $20 million this year.

That's a good reason for him to be gone. FAIL.

QUOTE
BC Ferries president David Hahn today announced $11 million worth of cost savings at the service, including service reductions, a wage and hiring freeze and his own early retirement.

Hahn, who has become a lightning rod because of his $1 million salary and sizable pension, will leave voluntarily at the end of the year, 15 months before the scheduled expiry of his contract. He estimated the early departure will save the corporation $1.5 million.

He said he thought the timing was essential to make the other changes palatable to the travelling public, it being wrong for a CEO to force cuts on the corporation while remaining ensconsed in the executive suite.

He maintained he was not forced out. Had that been the case, the corporation would have been on the hook for an additional 30 months pay and severance.

Hahn advised the ferry board of his plan in August and the government this week. No successor has been named though Mike Corrigan, his second in command and the ferries chief operating officer is believed to have the inside track.

Other changes announced this morning include:

A hiring freeze on all non essential positions.

Selected early retirements. Perhaps a dozen of those.

A two-year wage and salary freeze.

Reductions in executive compensation though elimination of a long-term incentive plan.

Reduced use of outside contractors and consultants.

Cancellation of a controversial advertising partnership with the Vancouver Canucks.

An 18-month delay in selected capital expenditures.

The corporation will also, as required, apply to government to cancel some 400 scheduled sailings in the off season (October-March) on the major routes between Vancouver Island the mainland.

Total savings are estimated at $11 million. Even with that, business is down sufficiently that the ferries are expected to lose $20 million this year.


Read more: http://www.vancouversun.com/news/Ferries+b...l#ixzz1ZB4x0leM
Francesco
I'm not sure why this belongs in a "Region Events" section, any more than the introduction thread posted the other day that was moved a couple of times. The Region Events sections are supposedly for posting details about regional smart-related events and gatherings.
Mike T
Fixed.
yellow bumble bee
Ya, glad to see him go, but he is taking $300,000 a year in my money with him.


Sunk one ferry.

Built 3 ferries in Germany when they should of been built in BC.

Seems like we now have half the service in ferries at twice the fare.

Losing $20,000,000 this year.

Quite a record for a man making $1,000,000 a year and now has a $300,000 a year pension for life.

Thank you Gordon Campbell and the Liberals.

My 2 cents.

Roy


smartzuuk
We have not yet dealt with what will be acceptable in the Regional Forums is my short answer, and this topic is probably of most interest to those living on Vancouver Island, but it fits equally well here... so I'm not complaining.

The 'other' thread however, was specifically asking about Regional Events!! It was posted in the Vancouver forum, and moved to Introductions (not sure who, but they did leave a ghost thread in Vancouver, so I knew where it had come from). The thread being in Intro prompted the 'where are you?' posts, at which time I moved it back to Vancouver where it rightly belonged, or if you will, 'it wasn't wrong for it to be in the Vancouver section'.

QUOTE
Just bought a Brabus smart , would like to meet and greet everyone , when is the next smart meeting ?
smartzuuk
QUOTE (yellow bumble bee @ Sep 27 2011 - 01:06 PM) *
Built 3 ferries in Germany when they should of been built in BC.


Maybe, maybe not.... we know what happened the last time we spend a half billion on a make work project. Yes, I know, they built the wrong kind of ship, and we should have just built the 'right' one... but I think they wanted a no fail option on the boats, not a ship building learning session.

All the rest, you've got my vote.
Speedie
The Fast cats were the result of political interference - I know one of the ship building types and they were instructed to add something like 15 m to the length to get more cars aboard (political)- which totally messed with the design. The spirit class that were built in BC were and are still superior to the German ships - if they were fitted with the newer engines there would be no contest for fuel consumption either.

I am glad to see Hahn go - he has a track record of running businesses into the ground - I am interested to see if he resurfaces on the BoD for Stena (the people in Germany that built the ferries) or some other supplier.

The problem I see though is the Ferries are in such a mess I am not sure we will ever get back to reasonable services levels at realistic prices - especially for some of the Gulf island runs. Perhaps people need to take it over - form a not for profit cooperative to keep the costs down.

Cheers,
Cameron
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