Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Canadian Political Free-for-All -- Ignore unavailable to you. Want to Upgrade?

To: DeplorableIrredeemableRedneck who wrote (8601)	2/26/2006 9:25:53 AM
From: DeplorableIrredeemableRedneck	Respond to of 37864

Corruption creeping up in Canada, 'core values' essential: EnCana's Morgan Posted 2/23/2006 finance.sympatico.msn.ca By Gary Norris TORONTO (CP) - Corruption is encroaching on Canada and all Canadians must embrace core values that built the country, an elder statesman of the energy industry said Wednesday. Gwyn Morgan, executive vice-chairman of EnCana Corp. (TSX:ECA), deplored a "value drift," evident in everything from drug use, Internet pornography and street gangs to "ever-increasing violence and immorality in television in films" and business and politics. "It's all about values - Canadian values," he declared in a luncheon speech to about 100 people at the Empire Club. "It's the ethical foundation that our forefathers have built." The Canadian value most under threat is freedom from corruption, he said, citing the 2005 Transparency International survey finding that Canada has slipped to 14th among countries perceived as free of corruption, down from its traditional top-10 placing. "There can be nothing more crucial to the integrity and prosperity of our country than to protect Canada from the proliferation and acceptance of corruption," Morgan said. "Recent events in federal politics have touched new lows," he said, referring to the Liberal sponsorship scandal in Quebec. "We get the behaviour we tolerate (and) the behaviour we demonstrate," he argued. "When it comes to business and government, there is an especially heavy responsibility that comes with leadership," Morgan said. "It's up to Canadian business leaders to act as role models with strong ethical values." He declined after the speech to comment on the widening pay gap between top executives and ordinary workers. Morgan, 60, who stepped aside as EnCana's chief executive officer to take the vice-chair position on Jan. 1, refused to tell reporters what his 2005 compensation was. His 2004 total compensation was $6.8 million, according to last year's proxy circular. "Our company competes with companies around the world, and I don't set my salary; the board sets my salary through examination of competitive conditions," Morgan said. "I think that last year, my compensation - salary plus bonus - came out around the 50th per centile of our international competitors for the job, so I think that's OK." Assuming that lavish pay provokes people to be unethical is "a stretch, in fact it's not right," he said. "If you don't have a moral compass, haven't got the discipline to steer in a direction of strong values, it doesn't matter whether you're poor or rich, you're still going to act unethically." Asked about his personal future, Morgan - rumoured to have been considered for the job of ambassador to the United States which the new Conservative government awarded to former finance minister Michael Wilson - said he has "a number of different priorities, both nationally and internationally," including directorships on corporate boards such as Alcan Inc. (TSX:AL) and SNC Lavalin Group (TSX:SNC). He also has "a strong interest in the country ... but I'm not going to run for politics." News from © The Canadian Press