11 February 2009

Nortel CEO hasn't had a raise in three years

The poor man must be suffering tremendously, given the increases in the price of such basics as food and housing.

Clearly, living on only $1.2 million a year, which reflects 20 percent of Mike Zafirovski's "pay package," he cannot be expected to cut back. True, Nortel's bankruptcy protection wrecks havoc on the company's suppliers, laid-off and pensioned employees, and other creditors. But Zafirovsky is already sharing the pain. For three whole years he has been stuck on that salary.

... which would fairly adequately1 support, based on 2006 figures,
  • 40 families composed of two adults, two children or
  • 47 families composed of one adult, two children or
  • 80 seniors who live alone.
1 Daphne, yours truly and many others can and do live on substantially less than the amounts given in Canada's Lowest Income Cutoffs. Not that there's a whole lotta a choice.

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