INTERNATIONAL HIGHLIGHTS

摘要

The Toronto Globe S Mail reports that while TransCanada Pipelines Ltd. trimmed its dividend by 29 percent, it still managed to pay out more than $8 million to six senior executives. Former CEO George Watson, who resigned last July, received $4.8 million in addition to his $433,646 salary. Doug Baldwin, who took over as CEO, received a $350,000 bonus in addition to $367,500 for just five months' work. Four senior vice presidents got bonuses totaling $919,650 last year, the newspaper said. A company spokesman defended the bonuses, saying that the cash compensation package is competitive with other large companies in the industry and is needed to attract the best talent. He also said the bonuses are not based on stock prices, which took a steep downturn, but focus on corporate and individual goals. The company admits it is ripe for a takeover because of its low stock price.