RE: 9 cents look very suspicious to meBut why would you be concerned? The Board and senior mangement are fulfilling their fiduciary duties to do what is best for the shareholders are they not? To that end, I understand that a long standing practice has been to show restraint through their travel policy. Whenever they are in Toronto, instead of staying at the 4 diamond Holiday Inn literally within walking distance of ATQ hq, they stay at the Westin Prince which is located a few miles away. And while both have corporate rates, at The Prince, I was told that parking and internet access are extra fees of $20 per day on top of the room rate which is at least 50% higher than the Holiday Inn.
Westin Prince:
https://www.youtube.com/watch?v=NZD07nW-x6c
A quick tour of the Holiday Inn facility confirmed that there are many senior executives who stay at the Holiday Inn and that it is the official preferred hotel of area businesses such as IBM, Steelcase, Yamaha, Sony, Olympia and I could go on...but for some reason our fiduciary minded board and senior management chose and choose The Prince which means one is stuck in traffic for miles to pay about 50% more and to then pay for internet access and parking...and as well the food charges are also much higher although the wine menu might be a little more extensive and expensive. When I asked one executive in the lobby what is wrong with the hotel, he said absolutely nothing. When I asked him why does he not drive down and stay at The Prince, he said why would I want to be stuck in traffic and to pay more for nothing more???
https://www.markham.holiday-inn.com/
In addition, I am sure our fiduciary complying board and senior management have incorporated into their best practices Travel Policy the requirement that all discounts and loyalty points awarded by airlines, hotels and car rental companies for expenses paid for by the company automatically accrue to the benefit of the company. In fact the Holiday Inn told me that they have many corporate clients that have the loyalty credits assigned directly to the company to preclude an accident where an employee might forget to award those points to the benefit of the company which paid for the expenses. It is their fiduciary duty after all to do what is best for the company. Industry experts confirmed to me that the awards benefit points represent a further 15% saving to the company. For example at The Prince if you travel frequently your "platinum" card will accumulate at the rate of 3 points per dollar spent. To stay at The Prince or another similar resort type property the cost would be between 5,000 and 10,000 points. So when you calculate the hotel room cost, the internet, the parking, the meals and incidentals, they estimated that you get a "free" room with every seven (7) stays.
This would also apply to the award program at the Holiday Inn.
Does anyone know if the ATQ Board has this Travel Policy in place? Does anyone know what the Travel Policy is?
An immediate switch to the Holiday Inn would immediately result in a cost saving of about 50% or more. A further saving of 15% would be achieved if the loyalty points are not already being assigned to the company. So I trust the Board will review and IMMEDIATELY implement this cost saving suggestion!!!!!!!!!!!!! After all, the Board does have a fiduciary duty to shareholders does it not????