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Saving you money – Protecting your rights - Untangling spin

Sumptuous lunch a hit for CTV

Friday, September 5, 2008
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Broadcaster rewards a merry band of shareholders, directors and other personnel

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Straight Goods' food reviewer Saul Chernos rates the food and the fun at corporate annual general meetings

  A lot of big decisions are made at corporate annual general meetings. So it's important - in their one moment of potentially democratic glory - that corporations should feed people.
  Most of the action at these meetings is controlled by the big fish and small investors are mere spectators. But the free lunch that follows some meetings can be an actual attraction for shareholders and anyone else interested in a pleasant bite.
 
  Some meetings offer little more than a stale cookie and flat soft drink. Others yield succulent hors d'oeuvres, delightful spreads, and occasional full-course meals catered by five-star restaurants.

  That's right. Buffet tables and open bars are commonplace at many AGMs which, while not widely advertised, are generally accessible to the public. If you're tired of getting by on pizza slices or Big Macs, it's good to stay up on the AGMs in town - especially if your town is a major city.
  Be warned: the food and drink are hit and miss. Some meetings offer little more than a stale cookie and flat soft drink. Others yield succulent hors d'oeuvres, delightful spreads, and occasional full-course meals catered by five-star restaurants.
  These meals are ostensibly meant to keep shareholders happy. Yet, there's little to prevent the deserving public - who usually pay the price for corporate greed - from sampling delights from the business menu. For the single parent who's just been downsized, the family of five who uses a food bank because low wages in the service industry just don't cut it, and anyone else who rightfully deserves their turn at the trough, Straight Goods will review the best and worst of what corporate AGMs have to offer.

Bon appetit!


Company: CTV Inc.
Location: Masonic Temple, Toronto

  Two days after CTV Inc. fired newscaster Avery Haines for essentially opening her mouth at the wrong time, the broadcaster rewarded a merry band of shareholders, directors and other personnel for knowing when to open their mouths.
  The appropriate occasion, in this case, was a sumptuous lunch that followed the broadcaster 's annual general meeting January 19 at the Masonic Temple in Toronto.
  Getting into the meeting proved half the fun. Most doors were locked and shareholders had to pound on a glass door and navigate darkened corridors to reach the studio.
  The business meeting itself was uneventful. Reading from a prepared text, President and CEO Ivan Fecan yakked about how far the broadcaster has come in the past six years, swallowing up Baton Broadcasting and launching "specialty" channels such as Sportsnet and The Comedy Channel.
  Shareholders seemed satisfied, leaving talk-show host and CTV enfant terrible Mike Bullard to ask the lone question. Noting that some CTV newscasters make inappropriate remarks, Bullard inquired if everything was all right with the news department.
  "I think that's a management question," Chairman Allan Beattie replied, as the audience giggled.
  Business swiftly out of the way, shareholders proceeded to a sit-down banquet catered by Bay Street favourite Bistro 990.
  The Greek salad proved an impressive starter, with ample supplies of sharp feta cheese. A leaf salad with rapini, dandelion, and other exotic greens, was fresh - and healthy. The Dijon and citrus dressing was delightfully tart.
  Two chefs - in full attire - prepared fresh pasta. White fusilli was accompanied by a melody of shitake, oyster and portobello mushrooms pan-fried in a tomato-base sauce with assorted green vegetables. Penne in cream and a zesty basil sauce was garnished with diced tomato and tender, juicy strips of chicken.
  The wine - Val d'Orbieu, vintage 1998, from Reserve St. Martin in France - came from Bistro 990's private stock and is not sold in Ontario liquor stores, according to a bartender.
  Lunchtime conversation was pleasant and informative. Two yuppies speculated on the length of time one entertainment industry executive might serve behind bars if convicted. One other fellow, piling pasta on his plate, remarked that he'd heard about homeless people who attend AGMs in order to eat. He then offered an insider's tip - the best Canadian AGM is reputed to be Barrick Gold.

Entertainment rating (1-5): Lunchtime conversation made up for uneventful business meeting and Bullard's tasteless remarks üüü
Food rating (1-5): Barrick may be gold but this also rated high üüüü

Other AGM food reviews by Saul Chernos
  Laidlaw Inc.

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