Wonderful news this morning that the company is announcing a new family building benefit. Although it sounds like a great initiative for young workers for the company, there still lacks any new benefits or appreciation of the older workforce with Enbridge.
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@1bp Pretty clear you have no idea.
@1bp I'm not surprised some of our commercial people have no idea how the biz works. Thanks for confirming.
@19g gee, I guess I don't know how ENB makes money. Despite having been on negotiations for incentive tolling agreements and the purchase of southern lights back in the day... having done cost benefit analysis on six expansions of significant size... on spending more time in futile planning meetings for gateway...
You don't need me to point anything out. You can graph the year over year income statements and balance sheets on plenty of sites. And data for the industry at large is easily available.
Utility companies have mandated debt equity levels, and that debt is recovered through rates. You can’t compare a utility debt levels to almost any other firm. Insolvency wasn’t even close, yes the debt needed managing but that’s all.
Corporate finances are a shell game. Once you know that it's easy to understand. Even if the current management ran the company into the ground it doesn't matter.
CEOs will call the government, say they are too big too fail, get a buyout on taxpayer money and then give CEOs and execs bonuses.
No one in enridge leadership will ever know their failures
You have no idea how corp finances work, nor do you have any idea about how Enb makes money
@11z "never, ever borderline insolvent" Then you weren't there, or you weren't paying attention. Long term debt accumulation was the only way out. Well, that and stock issuances. And now the company owes what... a hundred billion? Just in debt, not liabilities. You can be insolvent and sitting on a lot of physical assets.
The cash on hand for ENB has bounced pretty hard a few times. 2021 was $255M. That's not good news. It was an outlier year for sure... but for a company with 65 billion in revenues to run that low is unhealthy. That's a couple of weeks of operating expenses.
All these complaints about benefits that will barely be utilized. Most of the younger generation can barely afford rent. Why tf would they want to make kids? 😂
@y6 those who don’t complain about compensation are why we are in a major wealth gap situation.
I’m sorry if that hurts capitalists feelings - but you aren’t supposed to have feelings anyways.
At a company like enbridge and in the environment we live ALL that matters is compensation. Fu-k careers, fu-k loyalty, fu-k going over and above, and if you are still in eating the bullsh-t about being part of the ‘enbridge family’ then you are delusional.
Sorry Greg - don’t give flying fu-k about the company. I give a flying fu-k about taking as much money out of your pocket and putting it in mine.
That is the culture of enbridge and I fu-k over everyone for a dollar in that company. Maximize effort to pay and you will do fine there - and that means doing the least amount of work for the most smith of pay. Once I learned that life at enbridge became a lot better.
Don’t worry about enbridge fortunes - they are too big too fail and will get a government buyout with exec bonuses if they fu-k up royslly.
@11h this company was never, ever borderline insolvent lol.
"In other words, Enbridge values employees less than they used to. Thanks Greg!"
Yeah, that's a fair assessment. But the question is whether they compensate fairly in the current market.
"Things can't remain exactly as they were forever, and that's unfair to ME!"
Enbridge dug a pretty deep hole by being extravagant to their employees (not the only cause, but one of them). It all stems from the days when government regulation guaranteed the company profits. Then when Enbridge assumed responsibility for its own financial profit/loss situation, they drove us to the point where the company was borderline insolvent and cash strapped for a few years. It had to change.
Gotta love the comments about the older workforce which is probably coming from the under 35 crowd who thinks anyone over 40 is then“older workforce”. This is the same crowd who doesn’t know what we really do, how to contribute to our core business or have a clue what to do when something goes wrong. Yes, we certainly need more of them so we can hire more consultants and contractors to compensate for their inexperience and incompetence.
@y6 In other words, Enbridge values employees less than they used to. Thanks Greg!
"...they can’t seem to address compensation..."
Why? Do you feel undercompensated? If so, compared to whom?
If that comparison is done against equivalent roles in other companies, or across other industries, Enbridge is comfortably above average.
The people most likely to complain about compensation are those comparing today's Enbridge against the most generous days of Enbridge's past. Thde gravy train was nice, but it's done. The comparison should be today, and like for like.
The poor older generation with their gold plated pension that no longer exists
The older workforce is the problem
Fake coughing in the hallway, harassing minorities, back handed compliment,stubbornness, laggards to tech, gatekeeping
They added hearing aid funding too
Throwing a bone to all the younger generation that have never been committed to staying.
Problem is the bone is still broken and they can’t seem to address compensation
Hey Big E! You wanna do something for the employees? How about restoring the STO's for us poor serfs in the good ole USA? Please? Pretty please?
Ask yourself why are they offering this program. Is the demographic targeted leaving? Is this a retainer? Does this attract talent? This somehow needs to benefit the org.
No, it doesn't "sound like a great initiative." It just is one. You don't have to bring equivalents perks across all demographics simultaneously to do good.
You might not intend it this way, but your post sounds a lot like, "Since I'm not the recipient, it's unfair".