Tuesday, 3 November 2009

Downing & PKP

John Downing's latest blog posting notes PKP made the Financial Post Magazine's performance list of Canadian CEOs - 110th.

Downing, a Toronto Sun Day Oner and former editor, says 110th seems "awfully high."

His Downing's Views posting, titled Stop the Lunacy of Unemployment, reads:

"There are companies making obscene profits which keep firing at the same time. Sun Media makes a lot of money even though, to judge by the empty desks at their flagship operation The Toronto Sun, it acts like it's bankrupt. Just in the morality at head office!

"In the Financial Post Magazine's latest survey of Canadian CEOs, Pierre Karl Peladeau is ranked 110th, which seems awfully high. He runs Quebecor, some would say into the ground. Quebecor, which owns Sun Media, had a profit last year of $187,300,000, while Peladeau himself was paid a basic $1.2 million before various goodies."

Meanwhile, Downing says the annual Toronto Sun Day Oners dinner this year was down to two couples, a long slide from the days when most of the Original 62 celebrated the tabloid's Nov. 1, 1971 launching. And the two couples this year picked up their own tab.

Downing tells TSF:

"Some Day Oners used to dine to celebrate the Sun's anniversary. This year we were down to two couples, and had to do it early, because (the other couple) were off on a cruise out of Istanbul.

"So Mary and I and the (other couple) went to Tommaso's Trattoria which is just over from the Sun at 400 Eastern Ave. Kind of a Sun place. Great food, unpretentious service, reasonable prices.

"We ate and yarned and lied and had warm thoughts of the old days, which often really aren't that great, but with the Sun they were.

"As you've noted, the corporate Sun ignored its own birthday. What a change.

"I remember when Doug Creighton called Trudy Eagan and Dave Garrick (SkyDome VP and Sun letter writer) into his office and said they were to throw a bash inside SkyDome (a far better name than the present self-serving one) to celebrate the 20th anniversary of the rise of the Sun at the Eclipse Building.

"Creighton said, and Garrick just reminded me the other day, that money was no problem. He didn't want to know what it would cost, just do it. And so we had a marvelous party - except for the photog who stripped to his green undies on the carousel and left the Sun shortly afterwards.

"Garrick has never forgotten because it's not every day you mount a midway inside a covered stadium and then light off fireworks. It was the first time for pyrotechnics inside SkyDome, and when they are launched now, I always think of Doug's great birthday bash when rockets were the candles on the cake."

Thanks for the e-mail, John.

There was Doug's give and take corporate philosophy and then there is PKP's take, take, take mentality.


  1. Glad to know my job being cut helped PKP make the list.

  2. Apparently the report doesn't take into concideration the lives and careers that have been squashed. How much profit is enough? Look out Canwest PKP is looking at you next. You'll think being bankrupt is a holiday compared to his way of doing business "in these tough economic times"as PKP will say