RE: Tuesday's news: cost-cutting measures

[eric -dot- dunn -at- ca -dot- transport -dot- bombardier -dot- com]

John,

But, in this day and age actual benefit to bottom line is the last thing that
affects the stock market and public's perception of a company. Investor's these
days react far more to perceptions than fact. The performance of the company I
presently work for can serve as a great example. While there have been technical
glitches (to be expected in a project that is the first of its kind in North
America) in a high profile project and the company has revised projected
earnings figures the pummeling in the stock market is hardly justified if you
consider that the current year is the most profitable on record, the order books
are full and can keep the company occupied for two years in all sectors, and
they remain a leader in all sectors.

In the current climate surrounding greedy executives and ridiculous golden
parachutes, cutting the CEO's salary will provide far more positive spin than
cutting the overall salary burden. Indeed, if we compare the performance of
Nortel and CISCO on the stock market, I have to wonder if CISCO's better
performance on the market wasn't influenced by the CEO's declaration of taking a
pay cut and renouncing stock options while the company was doing badly as
opposed to NORTEL's boss taking the money and running.

While fairly opinionated wrt how much companies should be held accountable to
employees and the general public, I think that's a political discussion that
doesn't belong on TECHWR-L.

Jane,

I wish you the best of luck and hope that you find a solution that works.

Eric L. Dunn




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