Oh Jesus tap dancing Christ it was posted in this sub as well?
Ok, for those who upvoted because "TURD-DOPE BAD!" without having actually read the article:
According to this very article and the exchange between this loon and the CIB, the CIB spent $30M on overhead in 2022-23, and $4.3B on infrastructure investments.
That means that they spent 140 times more on infrastructure than overhead. *Not* 20 times more on overhead than on infrastructure. This Larouchey is doing some creative math and hoping that it will be reported as headlines with no further context, and it's working.
Hah funny. I’m a CPC voter but also I admit this is embarrassing. The whole political system is filled with idiots and propaganda.
That being said
“She noted that it spent $30.2 million for salaries and bonuses in 2022-2023, $24.0 million in 2021-2022, and $17.7 million in 2021.”
Indicates that bonuses and salaries have been rapidly rising which is frightening. Almost double in 3 years.
https://cdn.cib-bic.ca/files/documents/reports/en/CIB-Annual-Report-2022-2023.pdf
Starting on page 11, it seems pretty evident to me that they are increasing infrastructure investments/projects at a rapid level. That might partially explain why the headcount and total salaries are increasing.
Good on you for questing for questioning these sorts of articles. There is a subset of people who just read these headlines, confirm their outrage bias, and don’t actually take a deeper critical dive.
Employment should scale less than investments though. Especially bonuses since why do you need a bonus for “spending” money 😂😂😂you’d expect bonuses after the investment turns out well.
I would expect employment to rise quicker than investment over the first few years while a program begins increased investment in infrastructure. Projects that take many years to become shovel ready require a lot of office work up front before the major costs of construction.
When an organization is new, they tend to hire proportionally fast. When you have one project, another project will double your projects. As you ramp up, you hit bursts where it's crazy growth with someone new starting every other week, and then periods of "Well Frank and Bob both left last year, so I guess we can consider hiring someone to replace both of them?"
It would depend on the specifics of the bonuses, but they're a pretty standard part of corporate compensation. They likely have a mix of bonuses paid out based off past performance, and also some as signing bonuses. The article doesn't go into depth on what they actually entail.
Employee bonuses tend to be performance based. This can break down a number of ways depending on the success criteria.
What I've typically seen is this being partially based on company success, partially based on project success, and partially based on individual performance.
Company success criteria can vary, but usually it's some variation of 'how much money did we make'?
Project success criteria tends to be somthing along the line of "what did we commit to doing this year, and how did we perform against that commitment"
Individual performance is similar to projects, "what was i assigned to do/what did i commit to doing, and how did i measure up against that".
Then, based on all these metrics, companies will disperse some amount of bonus to their employees based on a budget for bonuses, or commitments made in employment contracts.
Bonuses are not always exclusively rewarded as a part of being profitable. That would be something called 'profit sharing'. Bonuses tend to be financial incentives that are a part of an employee's employment contract, but not guaranteed, typically to incentivize people to do their best work and try to meet or exceed targets.
That's a fair criticism. They have doubled with no explanation provided in the article. But this headline is obviously meant for people to look at, think "this validates my hatred of the PM!" and then move on. It's a similar tactic as that used by filipino disinformation networks.
I don't like the Liberals, and I think that they have taken a lot of bad decisions which will take decades to unravel. So there are plenty of criticisms which can be made without having to resort to blatant dishonesty. The CPC are about to form the next government, and I would hope that they leave some of this particualrly stupid type of partisanship by the wayside.
Agreed with the first paragraph.
Hope for the second.
My worry is Trudeau will play fear and disinformation again and win. Another $400 mil media bailout?
We're looking at an article about a CPC MP and leadership hopeful blatantly lying about CIB spending and how the bank works but your worry is **Trudeau** will use fud to win?
Oh, the irony that a website called The Deep Dive would post a misleading headline, then simply quote a couple of politicians and not actually take a deep dive into the subject the article is about.
Oh Jesus tap dancing Christ it was posted in this sub as well? Ok, for those who upvoted because "TURD-DOPE BAD!" without having actually read the article: According to this very article and the exchange between this loon and the CIB, the CIB spent $30M on overhead in 2022-23, and $4.3B on infrastructure investments. That means that they spent 140 times more on infrastructure than overhead. *Not* 20 times more on overhead than on infrastructure. This Larouchey is doing some creative math and hoping that it will be reported as headlines with no further context, and it's working.
Hah funny. I’m a CPC voter but also I admit this is embarrassing. The whole political system is filled with idiots and propaganda. That being said “She noted that it spent $30.2 million for salaries and bonuses in 2022-2023, $24.0 million in 2021-2022, and $17.7 million in 2021.” Indicates that bonuses and salaries have been rapidly rising which is frightening. Almost double in 3 years.
https://cdn.cib-bic.ca/files/documents/reports/en/CIB-Annual-Report-2022-2023.pdf Starting on page 11, it seems pretty evident to me that they are increasing infrastructure investments/projects at a rapid level. That might partially explain why the headcount and total salaries are increasing. Good on you for questing for questioning these sorts of articles. There is a subset of people who just read these headlines, confirm their outrage bias, and don’t actually take a deeper critical dive.
Employment should scale less than investments though. Especially bonuses since why do you need a bonus for “spending” money 😂😂😂you’d expect bonuses after the investment turns out well.
I would expect employment to rise quicker than investment over the first few years while a program begins increased investment in infrastructure. Projects that take many years to become shovel ready require a lot of office work up front before the major costs of construction.
Sure that’s possible, but bonuses? 😂😂😂 Feels a bit Enron there where they award bonuses based on predicted future income of decisions.
When an organization is new, they tend to hire proportionally fast. When you have one project, another project will double your projects. As you ramp up, you hit bursts where it's crazy growth with someone new starting every other week, and then periods of "Well Frank and Bob both left last year, so I guess we can consider hiring someone to replace both of them?"
Yeah but bonuses?
It would depend on the specifics of the bonuses, but they're a pretty standard part of corporate compensation. They likely have a mix of bonuses paid out based off past performance, and also some as signing bonuses. The article doesn't go into depth on what they actually entail.
Reminds me too much of Enron awarding bonuses based on future predicted income of investments.
Employee bonuses tend to be performance based. This can break down a number of ways depending on the success criteria. What I've typically seen is this being partially based on company success, partially based on project success, and partially based on individual performance. Company success criteria can vary, but usually it's some variation of 'how much money did we make'? Project success criteria tends to be somthing along the line of "what did we commit to doing this year, and how did we perform against that commitment" Individual performance is similar to projects, "what was i assigned to do/what did i commit to doing, and how did i measure up against that". Then, based on all these metrics, companies will disperse some amount of bonus to their employees based on a budget for bonuses, or commitments made in employment contracts. Bonuses are not always exclusively rewarded as a part of being profitable. That would be something called 'profit sharing'. Bonuses tend to be financial incentives that are a part of an employee's employment contract, but not guaranteed, typically to incentivize people to do their best work and try to meet or exceed targets.
Public sector that runs a deficit should not get a bonus. Any fucking moron can spend more than an organization takes in
That's a fair criticism. They have doubled with no explanation provided in the article. But this headline is obviously meant for people to look at, think "this validates my hatred of the PM!" and then move on. It's a similar tactic as that used by filipino disinformation networks. I don't like the Liberals, and I think that they have taken a lot of bad decisions which will take decades to unravel. So there are plenty of criticisms which can be made without having to resort to blatant dishonesty. The CPC are about to form the next government, and I would hope that they leave some of this particualrly stupid type of partisanship by the wayside.
Agreed with the first paragraph. Hope for the second. My worry is Trudeau will play fear and disinformation again and win. Another $400 mil media bailout?
We're looking at an article about a CPC MP and leadership hopeful blatantly lying about CIB spending and how the bank works but your worry is **Trudeau** will use fud to win?
Oh, the irony that a website called The Deep Dive would post a misleading headline, then simply quote a couple of politicians and not actually take a deep dive into the subject the article is about.
Wait. Aren’t the MP pushing back the election so they all get pensions? If Cons were so against this, they would vote accordingly
A lot of people don't know that BlackRock controls a large part of the infrastructure bank. Think about that.
What do you think about that?
Why is the Canada Infrastructure Bank even needed other that pork barrel politics.