The benefits of going out of business

BC Railway Co. president and chief executive officer Kevin Mahoney has a base salary of $275,000, receiving $137,500 in incentive plan payments and another $157,475.46 in other benefits. That's a smaller compensation package than his predecessor Bob Phillips, who had a base salary of $350,000 and was eligible to receive a performance bonus of up to $210,000. But it's bigger than Mr. Phillips' predecessor Mark Mudie. According to The Vancouver Sun's Neal Hall, Mr. Mudie was making "a base salary of $270,000 a year and expected a year-end performance bonus of $108,000" at the time he was fired, on August 23, 2002. "BC Rail also paid him $900 a month car allowance and membership at the Terminal City Club as part of his benefits package. In a court affidavit, he said he was accustomed to making $400,000 a year in salary and benefits."

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