As a reminder that the path to success is not always linear, we’ve highlighted what Richard Branson, Arianna Huffington, and 17 other fascinating and successful people were doing at age 25. (Martha Stewart; Flickr; YouTube)
That’s how much the average member of the 100 top-paid chief executives of companies listed on the Toronto Stock Exchange’s composite index was projected to earn by noon on Tuesday, the first working day of this year.
That’s according the Canadian Centre for Policy Alternatives, which for the fifth straight year has measured how long it takes for Canada’s richest chief executives to make the average Canadian’s annual pay.
“The average of Canada’s CEO elite 100 make 189 times more than Canadians earning the average wage,” the report’s author, economist Hugh Mackenzie, said in a statement. “If you think that’s normal, it’s not. In 1998, the highest paid 100 Canadian CEOs earned 105 times more than the average wage, itself likely more than double the figure for a decade earlier.”
Rogers, Bell close to MLSE deal Canada’s two largest telecommunications companies are close to buying a majority stake in Maple Leaf Sports and Entertainment Ltd., including the National Hockey League’s Toronto Maple Leafs, in a joint bid estimated to be worth about $1.4-billion that could be announced as early as Friday.
A source with knowledge of events said that Rogers Communications Inc. and BCE Inc. have an agreement in principle that would split the majority 79.53% stake in MLSE currently owned by the Ontario Teachers Pension Plan.
Larry Tanenbaum, the Toronto-based construction magnate who owns the remaining 20.47% of MLSE, would remain chairman as a condition of his support for the transaction contemplated by Rogers and Bell. As part of a shareholders’ rights agreement, Mr. Tanenbaum has first right of refusal on any attempted sale, and would have to approve any changes to the partners’ accord, including dividing the much-coveted broadcast and Internet assets. (Photo: Brett Gundlock/National Post)
Bombardier’s bid to avoid Boeing’s mistakes In an attempt to avoid the sort of lengthy delays and cost overruns faced by Boeing Co. and Airbus SAS in recent years, Bombardier Inc. is taking the extraordinary step of ensuring all of the flight testing on its new CSeries aircraft is completed even before the plane takes to the sky. They’re doing it virtually, that is.
The Kindle Fire will have a 7-inch display and sell for US$199, compared with US$499 for Apple’s cheapest iPad, Amazon executives said. The device, a souped-up version of the Kindle electronic-book reader, will run on Google Inc.’s Android software, the Seattle-based company said. (Photo: Emile Wamsteker/Bloomberg)
Target unveils Canadian stores Target Corp. has announced the first 105 locations that it will take over from Zellers when it begins opening stores in Canada in early 2013. “This is just the first wave,” Target Canada president Tony Fisher told media in a presentation in Chicago Thursday.
The list includes properties in 10 provinces; 13 in Alberta, 15 in British Columbia, five in Manitoba, one in New Brunswick, two in Newfoundland and Labrador, two in Nova Scotia, 45 in Ontario, one in PEI, 19 in Quebec, and two in Saskatchewan. (Photo by Justin Sullivan/Getty Images)
On the edge of Tiananmen Square, just across the street from Mao Zedong’s tomb, He Yingying munches on a piece of chicken and gazes at the benign-looking figure beaming down at her.
“We love him,” she says, bursting into an impish smile.
The 21-year-old student from Beijing’s Capital University of Economics and Business isn’t referring to Mao, whose iconic official portrait dominates the square. She’s talking about a long-dead, white-bearded Kentucky colonel on the logo of the KFC restaurant where she’s feasting on her favourite fast food, Bloomberg Markets reports in its March issue.