Fred Lazar is Associate Professor of Economics at the Schulich School of Business, York University (Toronto). His primary research interests include strategy, governance, incentives and compensation, and First Nations economic development. He regularly advises governments and companies around the world.
Do unions have a future?
March 31st 2012
Earlier this week I participated in a debate with two of my colleagues at York University. One of the questions that arose was: Do unions have a future? I believe they do, but only if they do one or more of the following, and all will require a fundamental change in their modus operandi. Unions need to work with employers to find...
Air Canada and its Unions
March 24th 2012
I always am inundated with calls for interviews whenever something happens with Air Canada. This time the most common question is: “What needs to be done?” I preface my answer with the following three observations. First, unless Air Canada (AC) is able to start up and grow two low-cost subsidiaries - one for the North...
Corporate governance absurdities
March 12th 2012
Three vignettes to demonstrate further the absurdities of corporate governance practices today. I start with Leo de Bever, the CEO of the Alberta Investment Management Corporation, one of the largest public sector pension funds in Canada. Leo should become the poster boy for term limits for corporate directors, and the exclusion...
RBC and Executive Compensation
February 21st 2012
Last week I wrote about corporate governance at the Royal Bank of Canada, and by happenstance, the next day the Bank found itself on Moody’s watch list for a possible credit downgrade. Since aligning executive compensation with sound risk management principles is one of the key policies relating to compensation at RBC, I have...
Royal Bank of Canada Directors
February 16th 2012
I have written several times in the past about corporate governance. On several of the occasions I have set out my suggestions for reforming corporate governance, starting with the selection of directors. Among the suggestions I have made have been the following: random selection of directors; term limits (seven years); no senior...