Topic Results: Ethics

May 29, 2019

Judge rules SNC-Lavalin to stand trial on fraud, bribery charges

A Quebec judge has ruled that SNC-Lavalin Group Inc. can stand trial on bribery and fraud charges, prolonging the Canadian engineering giant’s legal pain and keeping the case in the public eye in the run-up to this fall’s federal election. Justice Claude Leblond of the Quebec Court ruled Wednesday that there is enough evidence to […]

March 21, 2019

What was the story behind SNC-Lavalin’s supposedly ‘excellent’ corporate governance regime?

Excerpted and translated from “Le fiasco SNC-Lavalin: crime, culture, governance?” by Yvan Allaire, executive chairman of the Institute for Governance of Private and Public Organizations, published in Policy Options March 18, 2019.  The tragedy of SNC-Lavalin was in the making between 2000 and 2012. To outside observers, these were years of quiet profitability for the […]

February 14, 2019

Why Quebec sees SNC-Lavalin as an asset, not a liability

In Ottawa, there appears to be little sympathy these days for SNC-Lavalin, the giant engineering corporation facing prosecution for bribery schemes in Libya. The company was hoping to strike a deal with federal prosecutors in order to avoid a trial. If guilty, it would be cut off from lucrative Canadian government contracts for a decade. […]

February 14, 2019

‘It’s sad’ no one asked questions while SNC profits soared: Ex-Caisse exec

The long series of scandals ensnaring SNC-Lavalin Group Inc.  has one former executive of the Caisse de dépôt et placement du Québec calling for more accountability when it comes to corporate bribes for global contracts. Michel Nadeau, a former deputy chief executive of Caisse – the largest shareholder in SNC – told BNN Bloomberg on […]

March 9, 2018

Sharing the spoils of legalized cannabis

Statistics Canada estimates that, in 2017, “4.9 million Canadians aged 15 to 64 spent an estimated $5.7 billion on cannabis for medical (10% of the market) and non-medical (90% of the market) purposes. This was equivalent to around $1,200 per cannabis consumer.” Private companies, several of them listed on the stock exchange and already supplying […]

January 2, 2018

Canada’s top CEOs will make $50K before noon on Jan. 2

If they were to live on the average worker’s pay, Canada’s CEOs could stop working at around 11 a.m. on Jan. 2 and take the rest of the year off. That’s because by 10:57 a.m. on the second day of the year, their earnings will have already hit $49,738, the equivalent of the country’s average […]

August 17, 2017

Trump-era shift: CEOs find a voice for moral outrage

Corporate America started the year ready to engage with a controversial but business-minded president. This week CEOs have risen in chorus to denounce Trump’s lackluster response to racism. Not since the 1930s, when prominent business heads publicly broke with Franklin Roosevelt, has a US president seen such a revolt by leading business executives. [ … […]

February 9, 2017

Davos: Seven years later

There is a Chinese proverb that says He who knows he has enough is rich; but the modern Western version of the saying seems to be: One never has enough; I deserve more; or There is always someone who has more. Over the last years, we have built a system of incentives and motives so […]

December 23, 2016

A «Successful» Case of Activism at the Canadian Pacific Railway: Lessons in Corporate Governance

Pershing Square Capital Management, an activist hedge fund owned and managed by William Ackman, began hostile maneuvers against the board of CP Rail in September 2011 and ended its association with CP in August 2016, having netted a profit of $2.6 billion for his fund. This Canadian saga, in many ways, an archetype of what […]

April 6, 2015

Cost-cutting Mosaic CEO collects $5.5 mln pay raise

” U.S. fertilizer producer Mosaic Co boosted its chief executive officer’s pay last year by more than $5 million as a reward for slashing costs and jobs, a regulatory filing shows. Construction of excess potash capacity and fiercer competition have pressured the sector, and leading North American producers Mosaic, Potash Corp of Saskatchewan and Agrium […]

March 10, 2015

When does a publicly listed corporation become a criminal?

Under what circumstances is it appropriate to lay criminal charges against a publicly listed corporation for the actions of its employees? What justifies imposing what amounts, in Terrence Corcoran’s words, to a “corporate death penalty”? (Financial Post, February 23rd, 2015) Lawyers will debate these questions ad infinitum” but what would be a common-sense answer? A […]

March 13, 2014

How Quebecor’s press can distance itself from former boss Péladeau

[…] “Péladeau has also insisted he is committed to the code of ethics of the province’s legislature. But provincial academics and experts aren’t confident that goes far enough. “These measures are insufficient,” Yvan Allaire, the executive chairman of the Institute of Governance and professor at the L’Université du Québec à Montréal, wrote in an opinion […]

September 1, 2013

$0.45 Hourly Wage Increase for American Workers in Last Seven Years

[…]”GoBankingRates.com arrived at these findings by evaluating average worker pay from the Bureau of Labor Statistics (BLS) (2006 – 2013) and CEO compensation from the Institute for Governance of Private and Public Organizations’ ‘Pay for Value: Cutting the Gordian knot of Executive Compensation’ (2012) as well as AFL-CIO’s current ‘Executive Paywatch.’ Worker output data comes […]

July 2, 2013

SNC-Lavalin pushes government on maintaining local expertise

“[…]“Today, it must be recognized that the integral application of this law could lead to unjust consequences for tens of thousands of innocent workers and to the destruction of an industry that’s vital to the Quebec economy,” Yvan Allaire, chairman of Montreal’s Institute for Governance of Private and Public Organizations, wrote in a July 2 […]

May 25, 2013

SNC-Lavalin looking to clean up its reputation

“[…] As the argument goes, SNC-Lavalin is too big to fail. That line of reasoning saved American banks when they created a housing bubble only to have it burst in their face. It also sparked the multi-billion-dollar bailout of North American car companies when the global economy tanked. “There are hundreds if not thousands of professionals […]

February 27, 2013

No supervision of proxy advisory firms

“The Institute for Governance of Private and Public Organizations is calling on regulators to require that proxy advisory firms ensure accuracy, provide transparency and avoid conflicts of interest in their recommendations and dealings. The institute is an independent organization based in Montreal whose founders include activist investor firm Jarislowsky Fraser Ltd. Its mandate is to […]