Earlier, we reported BC Railway Co. chief executive officer Kevin Mahoney was paid handsomely for his services during the Crown corporation's most recent fiscal year - receiving $569,975 in salary and benefits. But, despite that compensation package, BC Railway missed two of its key performance measures. As part of its commitment to "wind down or exit" the corporation's assets, BC Railway committed to transfer 95 of its property titles in 2007 and gain $75.4 million from the disposal of that property. Instead, the corporation transferred just 20 titles and gained $19.8 million. All but three of BC Railway's performance measures concern monitoring and reporting out on the Crown corporation's lease agreements.
July 21, 2008