One Dead 28 Injured in Train Accident near Casablanca

Rabat – A train from the National Railway Office (ONCF) linking Casablanca to Fez, derailed Wednesday afternoon at 1:35 p.m., at the entrance of the Zenatta station.According to several news reports, the accident resulted in the death of an ONCF technician and left 28 passengers injured.The passenger train heading to Fez collided with another train loaded with coal and goods. The incident is said to have been caused by one train skipping a change in track and thus heading in the wrong direction.Local media has disclosed that approximately 28 people were severely injured and a worker at the Zenatta station passed away.“Passengers are unscathed,” the ONCF said on their official Facebook page, adding that an investigation has been opened in order to determine the cause of this incident. read more

Bombardier chief executive Pierre Beaudoin takes 27 per cent pay cut

Bombardier chief executive Pierre Beaudoin takes 27 per cent pay cut by The Canadian Press Posted Apr 5, 2013 5:13 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email MONTREAL – Bombardier’s chief executive took a 27 per cent pay cut last year, the transportation giant said Friday.Pierre Beaudoin’s total compensation in U.S. dollars was worth nearly US$6 million, compared with $8.2 million in 2011, according to a regulatory filing ahead of the company’s annual meeting next month.The company founder’s grandson earned $1.4 million in base salary in 2012, compared with $1.29 million a year earlier.The 2011 number was for 11 months because the company changed its fiscal year-end to Dec. 31.In 2012, Beaudoin also received $2.45 million in share-based awards, $1.2 million in options, $761,100 in incentives and a $22,000 pension value.A year earlier, he received $3.3 million in share-based awards, $1.5 million in options, $1.57 million in incentives and $362,400 in pension value.The total compensation for Bombardier’s (TSX:BBD.B) top five executives fell 19 per cent to $17.9 million.Railway division president Andre Navarri was second highest at $3.9 million, down from $4.7 million in 2011.Aerospace president Guy Hachey followed at $3.8 million, compared with $4.4 million a year earlier.Chief financial officer Pierre Alary’s compensation decreased to $2.3 million from $2.8 million in 2011.The other named executive was senior vice-president Richard Bradeen who earned $1.8 million in 2012.Bombardier’s profits plummeted 29.8 per cent to $588 million on $16.8 billion of revenues last year.On the Toronto Stock Exchange, Bombardier’s shares closed unchanged at C$3.93 in Friday trading. read more