Imagine the joy the old Neo Canada employees will feel this christmas when Smith and company announce no bonuses, no raises, while smith collects his enormous typical US ceo salary and asks that nobody gets even a cost of living increase for the new year. Old gaurd of Constantine would have kept the workers much happier over the holiday times. And his salary was a fraction of smiths even though he helped build neo to a hugely profitable cash machine. Merry xmas time canadian folks in napane and petrobourgh. what a shame. Long term maybe they become profitable but it will come at a cost to many canadian families.
I imagine they are hardly poor. I worked for a company that was bought out. I had only worked there about 2 years, however I received a good size chunk of change with the buyout. I believe I doubled my salary that year. . . . . . While you say poor old Canadian Neophites, I would imagine most of them did very well with the 1.3 billion dollar purchase and their stock options.
He is talking the company employees, not the investors. Investors are smiling. For employees no raises sucks. But it is better than the Twinkee bakers. They had salaries rolled back from $46k to $35k a few years ago, and the latest strike was because they would not accept a rollback to $25k. Holding steady for a year while the parent company has a loss on the books is not fun but is part of the business.