Misplaced Pages

#227772

112-538: The Rocky Mountain Rail Society operates under a board of directors and a varying number of directors . The key mechanical positions that make up the Mechanical Committee are chief mechanical officer, assistant to the chief mechanical officer and rolling stock operations officer. All planning for repairs, modifications and maintenance of any RMRS equipment must be done in consultation with and under

224-441: A quorum must be present before any business may be conducted. Usually, a meeting which is held without notice having been given is still valid if all of the directors attend, but it has been held that a failure to give notice may negate resolutions passed at a meeting, because the persuasive oratory of a minority of directors might have persuaded the majority to change their minds and vote otherwise. In most common law countries,

336-473: A stock corporation , non-executive directors are elected by the shareholders , and the board has ultimate responsibility for the management of the corporation. In nations with codetermination (such as Germany and Sweden), the workers of a corporation elect a set fraction of the board's members. The board of directors appoints the chief executive officer of the corporation and sets out the overall strategic direction. In corporations with dispersed ownership,

448-462: A "soaring murder rate". Sarnia had one homicide from 2016 to 2019 and eight homicides from 2020 to 2022. The Toronto Sun reported that the increased murder rate was drug-related, with local youth unable to find opportunities for themselves in the city. Sarnia is located on the eastern shore of Lake Huron at its extreme southern point, where it flows into the St. Clair River. Most of the surrounding area

560-608: A $ 141 million plant that manufactures 30,000 t (30,000 long tons; 33,000 short tons) of succinic acid per year, a chemical used to make plastics, lubricants, paint, cosmetics, food additives, and other products. BioAmber plans to construct a second site and may build it in Sarnia. Solutions4CO2 is developing a 4,645 m (50,000 sq ft) demonstration facility at Bluewater Energy Park. This company captures waste gas/water streams to process into value-added co-products, pharmaceutical drugs, and biofuels. PlantForm Corporation,

672-434: A 17% decline in population over the next twenty-five years. The Monteith-Brown study cited outlines a plan for restructuring the city based on hybrid zoning areas, which will bring work opportunities closer to the neighbourhoods where people live. The City of Sarnia and Lambton County are also implementing an economic development plan with an emphasis on bio-industries and renewable energy. In 2020, Sarnia began to experience

784-622: A Canadian biotech startup company producing ultra-low-cost therapeutic antibody drugs, opened an office at the Western University Research Park in 2011. At the same Park, from the summer of 2012 to the summer of 2016, KmX Corporation operated a pilot plant to produce membranes that filter wastewater from industrial processes. KmX production in Sarnia has since moved to Ottawa and Edmonton. Sarnia has one large mall, Lambton Mall , with 72 stores. The mall, along with several smaller shopping centers, stores, and hotels,

896-442: A board is not a career unto itself. For major corporations, the board members are usually professionals or leaders in their field. In the case of outside directors, they are often senior leaders of other organizations. Nevertheless, board members often receive remunerations amounting to hundreds of thousands of dollars per year since they often sit on the boards of several companies. Inside directors are usually not paid for sitting on

1008-527: A board of directors vary depending on the nature and type of business entity and the laws applying to the entity (see types of business entity ). For example, the nature of the business entity may be one that is traded on a public market (public company), not traded on a public market (a private, limited or closely held company), owned by family members (a family business), or exempt from income taxes (a non-profit, not for profit, or tax-exempt entity). There are numerous types of business entities available throughout

1120-405: A board of directors vary widely across organizations and may include provisions that are applicable to corporations, in which the "shareholders" are the members of the organization. A difference may be that the membership elects the officers of the organization, such as the president and the secretary, and the officers become members of the board in addition to the directors and retain those duties on

1232-515: A board, but the duty is instead considered part of their larger job description. Outside directors are usually paid for their services. These remunerations vary between corporations, but usually consist of a yearly or monthly salary, additional compensation for each meeting attended, stock options, and various other benefits. such as travel, hotel and meal expenses for the board meetings. Tiffany & Co. , for example, pays directors an annual retainer of $ 46,500, an additional annual retainer of $ 2,500 if

SECTION 10

#1732786909228

1344-447: A firm in a different industry. Outside directors are not employees of the company or affiliated with it in any other way. Outside directors bring outside experience and perspectives to the board. For example, for a company that serves a domestic market only, the presence of CEOs from global multinational corporations as outside directors can help to provide insights on export and import opportunities and international trade options. One of

1456-661: A forward direction to Stettler. Canadian National 6060 (affectionately known as Bullet-nosed Betty ) was assembled in Canada's Montreal Locomotive Works in October 1944 under builder's number 72757. In 1959, 6060 was retired from active service and was subsequently placed on static display in Jasper, Alberta , in 1962. Ten years later, Canadian National Railway restored 6060 to operating condition, and used her to haul steam excursions out of Toronto , Ontario. In 1980, to commemorate

1568-536: A generous " golden parachute " which also acts as a deterrent to removal. A 2010 study examined how corporate shareholders voted in director elections in the United States. It found that directors received fewer votes from shareholders when their companies performed poorly, had excess CEO compensation, or had poor shareholder protection. Also, directors received fewer votes when they did not regularly attend board meetings or received negative recommendations from

1680-518: A position on the board. Shareholder nominations can only occur at the general meeting itself or through the prohibitively expensive process of mailing out ballots separately; in May 2009 the SEC proposed a new rule allowing shareholders meeting certain criteria to add nominees to the proxy statement. In practice for publicly traded companies, the managers ( inside directors ) who are purportedly accountable to

1792-416: A proxy advisory firm. The study also shows that companies often improve their corporate governance by removing poison pills or classified boards and by reducing excessive CEO pay after their directors receive low shareholder support. Board accountability to shareholders is a recurring issue. In September 2010, The New York Times noted that several directors who had overseen companies which had failed in

1904-439: A relatively small number of individuals have significant influence over many important entities. This situation can have important corporate, social, economic, and legal consequences, and has been the subject of significant research. The process for running a board, sometimes called the board process , includes the selection of board members, the setting of clear board objectives, the dissemination of documents or board package to

2016-438: A resolution of the remaining directors (in some countries they may only do so "with cause"; in others the power is unrestricted). Some jurisdictions also permit the board of directors to appoint directors, either to fill a vacancy which arises on resignation or death, or as an addition to the existing directors. In practice, it can be quite difficult to remove a director by a resolution in general meeting. In many legal systems,

2128-415: A single-tier board, while the chairman of the management board is reckoned as the company's CEO or managing director . These two roles are always held by different people. This ensures a distinction between management by the executive board and governance by the supervisory board and allows for clear lines of authority. The aim is to prevent a conflict of interest and too much power being concentrated in

2240-806: A static display piece, so they launched a campaign for the Provincial Government to reconsider No. 6060’s future. This led to the province relinquishing the title of No. 6060 to the Rocky Mountain Rail Society in early 1992. After several years of storage at the Alberta Railway Museum near Edmonton , No. 6060 was moved to Stettler in 1998 to operate regularly in the service of Alberta Prairie Steam Tours . She continued to transport thousands of excursion passengers every summer until going out of service in 2011. This impressive mountain-type engine

2352-493: A wave of Scottish immigrants settled in the area. They became dominant as English speakers and, for decades, claimed to have founded the city. Port Sarnia expanded throughout the 19th century; on 19 June 1856, Parliament passed An Act to Incorporate the Town of Sarnia, and the name Port Sarnia was officially changed to Sarnia, effective 1 January 1857. The Act mentioned 1,000 inhabitants in three wards. The important lumber industry

SECTION 20

#1732786909228

2464-414: Is dividend and how much it is, stock options distributed to employees, and the hiring/firing and compensation of upper management . Theoretically, the control of a company is divided between two bodies: the board of directors, and the shareholders in general meeting . In practice, the amount of power exercised by the board varies with the type of company. In small private companies, the directors and

2576-756: Is 46.0 as of 2021, which is older than the Canadian median of 41.6, indicative of Sarnia's aging population. In 2021, 56.8% of residents were Christian , down from 69.5% in 2011. 25.2% of the population was Catholic , 21.1% were Protestant , and 6.6% were Christians of unspecified denomination. All other Christian denominations/Christian-related traditions comprised 3.9% of the population. 39.5% of residents were nonreligious or secular, up from 27.9% in 2011. All other religions (or spiritual beliefs) comprised 3.6% of residents. The largest non-Christian religions were Islam (1.2%) and Hinduism (1.1%). The median income for all persons 15 years old or older in Sarnia in 2015

2688-474: Is a former railway line that passes through a combination of urban and rural areas. This linear park is managed by a volunteer committee and spans 16 km (9.9 mi) through wooded areas and alongside ponds. Benches are available along the path as well as washroom facilities. The path is open year-round: bicycling, running, and dog walking are popular activities in the summer. Snowshoeing and cross-country skiing can be enjoyed on snowy days. Access to Lake Huron

2800-580: Is a popular community event enjoyed by families. Canatara Park is one of the first parks in southern Ontario to feature an outdoor fitness equipment installation. The largest recreational park in Sarnia is Germain Park, which incorporates five baseball diamonds, four soccer fields, an outdoor pool, and the Community Gardens. As a memorial to Canadian aviators who died in World War II, one of

2912-406: Is also an additional statutory body for audit purposes. The OECD Principles are intended to be sufficiently general to apply to whatever board structure is charged with the functions of governing the enterprise and monitoring management. The development of a separate board of directors to manage/govern/oversee a company has occurred incrementally and indefinitely over legal history. Until the end of

3024-465: Is an Ojibwe word that means Blue Water . The park was opened in 1933. Within the park is Lake Chipican, a haven for many different species of birds on their migration routes. Most years, birdwatchers recognize around 150 species. The park also maintains a Children's Animal Farm as part of Sarnia's commitment to wildlife. The annual "Christmas on the Farm" weekend event held at the Farm in early December

3136-408: Is associated with rigorous monitoring and improved corporate governance. In some European and Asian countries, there are two separate boards, an executive board (or management board) for day-to-day business and a supervisory board (elected by the shareholders and employees) for supervising the executive board. In these countries, the chairman of the supervisory board is equivalent to the chairman of

3248-738: Is available at Blackwell Side Road. Sarnia connects to the Great Lakes Waterfront Trail , which stretches over 2,100 km (1,300 mi) along the Canadian shores of Lake Ontario, Lake Erie, Lake St. Clair, Lake Huron and the Niagara, Detroit, and St. Lawrence rivers. The Great Lakes Waterfront Trail connects 114 communities and hundreds of parks and natural areas, including wetlands, forests, and beaches. Sarnia has one museum within its city limits, known as "Stones 'N Bones", which houses over 6,000 exhibits. The collection includes rocks, artifacts, fossils, and bones from around

3360-538: Is called " Chemical Valley " and located south of downtown Sarnia. In 2011 the city had the highest level of particulates air pollution of any Canadian city, but it has since dropped to rank 30th in this hazard. About 60 percent of the particulate matter comes from industries and polluters in the neighbouring United States. Lake Huron is cooler than the air in summer and warmer than the air in winter; therefore, it moderates Sarnia's humid continental climate , making temperature extremes of hot and cold less evident. In

3472-413: Is considered to be comparatively weak due to the limited time they can dedicate to this task. Overconfident directors are found to pay higher premiums in corporate acquisitions and make worse takeover choices. Locally rooted directors tend to be overrepresented and lack international experience, which can lead to lower valuations, especially in internationally oriented firms. Directors' military experience

Rocky Mountain Rail Society - Misplaced Pages Continue

3584-475: Is considered to be one of the best remaining examples of a modern steam locomotive, and until 2011 was Canada's largest operating steamer and North America's only operating mountain-type engine. 6060's design is an extension of CNR Northern U-2-g design ( 4-8-4 ) which was able to run through divisional points where other engines would need to be serviced, and established performance records. One such locomotive ran 29,536 km (18,353 mi) in one month, and it

3696-477: Is flat, and the elevation ranges from 169 to 281 m (554 to 922 ft) above sea level. The soil mainly comprises clay. Despite this high percentage of clay, the soil is remarkably rich for cultivation. Wiltshire Park, Woodland, Oak Acres, Wees Beach, Oakwood Corners, Woodrow Shores, and Blackwell are part of the North End of Sarnia, which begins immediately north of Ontario Highway 402 and terminates at

3808-758: Is located on the eastern bank of the junction between the Upper and Lower Great Lakes , where Lake Huron flows into the St. Clair River in the Southwestern Ontario region, which forms the Canada–United States border , directly across from Port Huron, Michigan . The site's natural harbour first attracted the French explorer La Salle . He named the site "The Rapids" on 23 August 1679, when he had horses and men pull his 45-ton barque Le Griffon north against

3920-600: Is marked by a historic plaque installed by the Ontario Heritage Society. They were fur traders with the Huron and Three Fires Confederacy . At this time, the French Jesuits also established a mission near the Huron village on the river's east bank. Later, the men established farms, attracted other settlers, and stimulated growth in the area. The township was surveyed in 1829, and in the early 1830s,

4032-440: Is one of the world's busiest, as indicated by the average of 78,943,900 t (77,697,100 long tons; 87,020,800 short tons) of shipping that annually travelled the river going in both directions during the period 1993–2002. Lake freighters and oceangoing ships, which are known as "salties", pass up and down the river at the rate of about one every seven minutes during the shipping season. The Paul M. Tellier Tunnel , which

4144-401: Is one whose board is self-appointed, rather than being accountable to a base of members through elections; or in which the powers of the membership are extremely limited. In membership organizations , such as a society made up of members of a certain profession or one advocating a certain cause, a board of directors may have the responsibility of running the organization in between meetings of

4256-408: Is that in large public companies it is upper management and not boards that wield practical power, because boards delegate nearly all of their power to the top executive employees, adopting their recommendations almost without fail. As a practical matter, executives even choose the directors, with shareholders normally following management recommendations and voting for them. In most cases, serving on

4368-459: Is that the board tends to have more de facto power. Most shareholders do not attend shareholder meetings, but rather cast proxy votes via mail, phone, or internet, thus allowing the board to vote for them. However, proxy votes are not a total delegation of the voting power, as the board must vote the proxy shares as directed by their owner even when it contradicts the board's views. In addition, many shareholders vote to accept all recommendations of

4480-658: Is the primary shopping area. The International Symphony Orchestra plays at the Imperial Theatre for an annual season lasting from September to April. In addition to symphonic concerts, the Imperial Theatre offers year-round dramatic productions; Former Max Webster frontman Kim Mitchell has returned to his hometown on occasion to play a concert, including his visit in 2008 for Sarnia's popular Ribfest. In this competition, local amateur chefs share their recipes for barbecued ribs and compete against each other. Canadian composer and music educator Raymond Murray Schafer

4592-544: Is the sole producer of regulatory-approved, food-grade butyl rubber, used in the manufacture of chewing gum . Within the boundaries of its Sarnia plant Lanxess has also created the Bio-industrial Park Sarnia. Chemical Valley and the surrounding area are home to 62 facilities and refineries. These industrial complexes are the heart of Sarnia's infrastructure and economy. They directly employ nearly 8,000 and contribute to almost 45,000 additional jobs in

Rocky Mountain Rail Society - Misplaced Pages Continue

4704-442: Is very rare in the area but has occurred, such as the tornado event of 1953 . In the 2021 Census of Population conducted by Statistics Canada , Sarnia had a population of 72,047 living in 32,188 of its 33,902 total private dwellings, a change of 0.6% from its 2016 population of 71,594 . With a land area of 163.9 km (63.3 sq mi), it had a population density of 439.6/km (1,138.5/sq mi) in 2021. As of

4816-446: The chairman (often now called the "chair" or "chairperson"), who holds whatever title is specified in the by-laws or articles of association . However, in membership organizations, the members elect the president of the organization and the president becomes the board chair, unless the by-laws say otherwise. The directors of an organization are the persons who are members of its board. Several specific terms categorize directors by

4928-400: The 2007–2008 financial crisis had found new positions as directors. The SEC sometimes imposes a ban (a "D&O bar") on serving on a board as part of its fraud cases, and one of these was upheld in 2013. The exercise by the board of directors of its powers usually occurs in board meetings. Most legal systems require sufficient notice to be given to all directors of these meetings, and that

5040-622: The Cold War , the United States Government included Sarnia on its list of possible targets for a Soviet nuclear strike because of its petrochemical industry. On 1 January 1991, Sarnia and the neighbouring town of Clearwater (formerly Sarnia Township) were amalgamated as the new city of Sarnia-Clearwater. The amalgamation was initially slated to include the village of Point Edward , although that village's residents resisted. They were eventually permitted to remain independent of

5152-748: The Group of Seven . In 2015, the South Western International Film Festival was launched at the city's Imperial Theatre. During the Christmas season, the city of Sarnia presents the annual "Celebration of Lights" in Centennial Park. The event was created in 1984 by Wills Rawana and a committee funded by the retail chain Hudson's Bay , and the national telecommunications company Telus . From modest beginnings,

5264-525: The World's Fair . In November 1991, No. 6060’s Alberta owners announced that they could no longer take care of the locomotive, and they sought to move No. 6060 to a park for permanent static display, while the New York, Susquehanna and Western Railway made an offer to buy it for their steam program. The Rocky Mountain Rail Society was determined to keep No. 6060 from leaving Canada and to become

5376-416: The executive board . Typical duties of boards of directors include: The legal responsibilities of boards and board members vary with the nature of the organization, and between jurisdictions. For companies with shares publicly listed for negotiation , these responsibilities are typically much more rigorous and complex than for those of other types. Typically, the board chooses one of its members to be

5488-498: The shareholders , the law imposes strict duties on directors in relation to the exercise of their duties. The duties imposed on directors are fiduciary duties, similar to those that the law imposes on those in similar positions of trust: agents and trustees . Sarnia Sarnia is a city in Lambton County , Ontario , Canada. It had a 2021 population of 72,047, and is the largest city on Lake Huron . Sarnia

5600-511: The 19th century, it seems to have been generally assumed that the general meeting (of all shareholders) was the supreme organ of a company, and that the board of directors merely acted as an agent of the company subject to the control of the shareholders in general meeting. However, by 1906, the English Court of Appeal had made it clear in the decision of Automatic Self-Cleansing Filter Syndicate Co Ltd v Cuninghame [1906] 2 Ch 34 that

5712-522: The 2021 Census, Sarnia was 86.2% White, 8.3% visible minorities, and 5.5% Indigenous. The largest visible minority groups in the city are South Asians (2.7%), Black Canadians (1.6%), and Latin Americans (0.9%). In 2021, 87.5% of Sarnians called English their mother tongue, 2.2% listed French, and 3.4% said another language was their mother tongue. 1.1% listed both English and a non-official language as their mother tongue. The median age in Sarnia

SECTION 50

#1732786909228

5824-613: The CEO and their direct reports (other C-level officers, division/subsidiary heads). Board structures and procedures vary both within and among OECD countries. Some countries have two-tier boards that separate the supervisory function and the management function into different bodies. Such systems typically have a "supervisory board" composed of nonexecutive board members and a "management board" composed entirely of executives. Other countries have "unitary" boards, which bring together executive and non-executive board members. In some countries there

5936-404: The CEO position in some organizations). Executive directors often have a specified area of responsibility in the organization, such as finance, marketing, human resources, or production. An outside director is a member of the board who is not otherwise employed by or engaged with the organization, and does not represent any of its stakeholders. A typical example is a director who is president of

6048-555: The Province of Alberta's 75th anniversary, No. 6060 was presented to the people of Alberta as a gift. After more than five years of retirement, she was restored a second time with the help of the Province of Alberta and, most notably, volunteers from the Rocky Mountain Rail Society. No. 6060 travelled under her own power to Vancouver , British Columbia, in 1986 to participate in the Steam Expo  [ de ] , part of

6160-569: The Sarnia Lambton economy." When World War II threatened tropical sources of natural latex for rubber , Sarnia was selected as the site to spearhead the development of synthetic petroleum-based rubbers for war materials . Polymer Corporation was built by Dow Chemical at the request of the Government of Canada. Large pipelines bring Alberta oil to Sarnia, where oil refining and petrochemical production have become mainstays of

6272-547: The U.S., the directors which are available to vote on are largely selected by either the board as a whole or a nominating committee . Although in 2002 the New York Stock Exchange and the NASDAQ required that nominating committees consist of independent directors as a condition of listing, nomination committees have historically received input from management in their selections even when the CEO does not have

6384-529: The US are the National Association of Corporate Directors , McKinsey and The Board Group. A board of directors conducts its meetings according to the rules and procedures contained in its governing documents. These procedures may allow the board to conduct its business by conference call or other electronic means. They may also specify how a quorum is to be determined. The responsibilities of

6496-504: The United States by the opening of the St. Clair Tunnel under the St. Clair River at Sarnia in 1890 by the Grand Trunk Railway. This was the first railroad tunnel ever constructed under a river. The tunnel was an engineering marvel in its day, achieved through the development of original techniques for excavating in a compressed air environment. Canada Steamship Lines formed in 1913 from many previous companies that plied

6608-436: The approval of the Mechanical Committee. A volunteer coordinator is also appointed to manage all volunteer resources and scheduling. From 1998 to 2011, the society's excursions consisted of providing 6060 as steam power to a number of runs of Alberta Prairie Railway Excursions (APRE) tourist trains which were operated on a regular weekend schedule from mid-May to mid-October. (Special event runs also occurred at other dates in

6720-578: The area. In 1971, the Canadian government deemed this area so important to the economic development of the country that it printed an image of a Sarnia Oil Refinery on the reverse of the Canadian $ 10 note . The huge industrial area is the cause of significant air and water pollution. The Canada Wide Daily Standard for airborne particulate matter and ozone pollution, regulation PM2.5, is 30 micrograms per cubic metre. Forty-five percent of this particulate air pollution in Sarnia comes from Chemical Valley, and

6832-410: The arguments for having outside directors is that they can keep a watchful eye on the inside directors and on the way the organization is run. Outside directors are unlikely to tolerate "insider dealing" between inside directors, as outside directors do not benefit from the company or organization. Outside directors are often useful in handling disputes between inside directors, or between shareholders and

SECTION 60

#1732786909228

6944-470: The board members, the collaborative creation of an agenda for the meeting, the creation and follow-up of assigned action items , and the assessment of the board process through standardized assessments of board members, owners, and CEOs. The science of this process has been slow to develop due to the secretive nature of the way most companies run their boards, however some standardization is beginning to develop. Some who are pushing for this standardization in

7056-492: The board of directors have historically played a major role in selecting and nominating the directors who are voted on by the shareholders, in which case more "gray outsider directors" (independent directors with conflicts of interest ) are nominated and elected. In countries with co-determination , a fixed fraction of the board is elected by the corporation's workers. Directors may also leave office by resignation or death. In some legal systems, directors may also be removed by

7168-454: The board rather than try to get involved in management, since each shareholder's power, as well as interest and information is so small. Larger institutional investors also grant the board proxies. The large number of shareholders also makes it hard for them to organize. However, there have been moves recently to try to increase shareholder activism among both institutional investors and individuals with small shareholdings. A contrasting view

7280-405: The board. The directors may also be classified as officers in this situation. There may also be ex-officio members of the board, or persons who are members due to another position that they hold. These ex-officio members have all the same rights as the other board members. Members of the board may be removed before their term is complete. Details on how they can be removed are usually provided in

7392-456: The board. They are thought to be advantageous because they can be objective and present little risk of conflict of interest. On the other hand, they might lack familiarity with the specific issues connected to the organization's governance, and they might not know about the industry or sector in which the organization is operating. Individual directors often serve on more than one board. This practice results in an interlocking directorate , where

7504-459: The bylaws. If the bylaws do not contain such details, the section on disciplinary procedures in Robert's Rules of Order may be used. In a publicly held company , directors are elected to represent and are legally obligated as fiduciaries to represent owners of the company—the shareholders /stockholders. In this capacity they establish policies and make decisions on issues such as whether there

7616-484: The city's economy. Shell Canada , Imperial Oil , and Suncor Energy ( Sunoco ) operate refineries in Sarnia. Large salt beds found under the city became a source of chlorine and other significant ingredients which contributed to the success of Chemical Valley. Chemical companies operating in Sarnia include NOVA Chemicals , Bayer ( Lanxess and H.C. Starck), Cabot Corporation , and Ethyl Corporation . Dow Chemical ceased operations at its Sarnia site in 2009, with

7728-416: The city. On 1 January 1992, the city reverted to the name Sarnia. Sarnia's population continued to grow from 1961 to 1991, with a 1991 population of 74,376. In 2001, the population had declined by approximately 3,000. Since 2001, Sarnia's population has been growing slowly, with a 2011 population count of 72,366. An April 2010 report "Sarnia-Lambton's Labour Market" states: "Large petrochemical companies are

7840-424: The community's main economic drivers. Over the recent past, several plants have shut down,[sic] and of those still in operation, increased automation and outsourcing has led to significantly fewer workers." These shutdowns and the resulting loss of jobs, and therefore of population as workers search for employment elsewhere, will contribute to a general decline as forecast by an August 2011 study. It projects

7952-437: The construction of Polymer Corporation; at one point, it had nearly 3,000 residents. In 1961, all the residents were relocated, mostly to the North End, to make way for the expansion of the chemical industry. The village was demolished, and all that remains is a historical marker at the corner of Vidal Street and Huron Boulevard. This neighbourhood was largely forgotten until historian Lorraine Williams wrote two books about it. She

8064-436: The director has a right to receive special notice of any resolution to remove them; the company must often supply a copy of the proposal to the director, who is usually entitled to be heard by the meeting. The director may require the company to circulate any representations that they wish to make. Furthermore, the director's contract of service will usually entitle them to compensation if they are removed, and may often include

8176-487: The director is also a chairperson of a committee, a per-meeting-attended fee of $ 2,000 for meetings attended in person, a $ 500 fee for each meeting attended via telephone, in addition to stock options and retirement benefits. Academic research has identified different types of board directors. Their characteristics and experiences shape their role and performance. For instance, directors with multiple mandates are often referred to as busy directors. Their monitoring performance

8288-478: The division of powers between the board and the shareholders in general meaning depended on the construction of the articles of association and that, where the powers of management were vested in the board, the general meeting could not interfere with their lawful exercise. The articles were held to constitute a contract by which the members had agreed that "the directors and the directors alone shall manage." The new approach did not secure immediate approval, but it

8400-545: The east, averages 194.3 cm (76.5 in). The moderating effect of Lake Huron which Sarnia has a long shoreline on its north side, and to a lesser extent other nearby Great Lakes ensure seasonal lag similar to other lakeside locations over much of Southern Ontario. This gives Sarnia a noticeably milder period following Summer and delaying onset of the first frost in the Fall. Conversely, cooler average daytime temperatures tend to prevail for longer after winter breaks, through

8512-498: The end of steam on the CNR. 52°19′18″N 112°42′00″W  /  52.3216°N 112.7001°W  / 52.3216; -112.7001 Board of directors A board of directors is an executive committee that supervises the activities of a business , a nonprofit organization , or a government agency . The powers, duties, and responsibilities of a board of directors are determined by government regulations (including

8624-647: The erecting floor at Montreal Locomotive Works early in October 1944. In spite of being 20 tons lighter than the U-2s, the performance of the U-1-f class was undiminished and they quickly took over prestigious passenger runs, capable of easily maintaining speeds of 121 km/h (75 mph). 6078, a classmate of 6060, made the run from Toronto to Sarnia , Ontario, in two hours and fifty-eight minutes at an average speed (including water stops) of 94.5 km/h (58.7 mph). This entire sub-class of engine remained in service until

8736-427: The event has garnered numerous awards as it has grown, including second place in the 2002 Canadian Government's Canada WinterLights competition. The celebration was incorporated in its national prizewinning year and is now run by a voluntary Board of Directors. There are more than 100 parks in Sarnia, the largest being Canatara Park, which covers more than 81 ha (200 acres) along the shore of Lake Huron. Canatara

8848-412: The general body of shareholders can control the exercise of powers by the articles in the directors is by altering the articles, or, if opportunity arises under the articles, by refusing to re-elect the directors of whose actions they disapprove. They cannot themselves usurp the powers which by the articles are vested in the directors any more than the directors can usurp the powers vested by the articles in

8960-483: The general body of shareholders. It has been remarked that this development in the law was somewhat surprising at the time, as the relevant provisions in Table A (as it was then) seemed to contradict this approach rather than to endorse it. In most legal systems, the appointment and removal of directors is voted upon by the shareholders in general meeting or through a proxy statement . For publicly traded companies in

9072-426: The hands of one person. There is a strong parallel here with the structure of government, which tends to separate the political cabinet from the management civil service . In the United States, the board of directors (elected by the shareholders) is often equivalent to the supervisory board, while the executive board may often be known as the executive committee (operating committee or executive council), composed of

9184-546: The identification and nomination of directors (that shareholders vote for or against) are often done by the board itself, leading to a high degree of self-perpetuation. In a non-stock corporation with no general voting membership, the board is the supreme governing body of the institution, and its members are sometimes chosen by the board itself. Other names include board of directors and advisors , board of governors , board of managers , board of regents , board of trustees , and board of visitors . It may also be called

9296-400: The jurisdiction's corporate law ) and the organization's own constitution and by-laws . These authorities may specify the number of members of the board, how they are to be chosen, and how often they are to meet. In an organization with voting members, the board is accountable to, and may be subordinate to, the organization's full membership, which usually elect the members of the board. In

9408-746: The late Spring and early Summer as compared to further inland. Daily lows of less than −10 °C (14 °F) occur an average of 29 days a year, and less than −20 °C (−4 °F), only average two days a year. Summers are warm with typically humid conditions. Humidex readings and Dew Points can be very high at times from late May to late September. Sarnia has the second greatest number of high humidex days at or above 35 °C (95 °F) (with 23.16 days on average per year) and humidex days at or above 30 °C (86 °F) (with 61.20 days on average per year) in Canada, ranking after Windsor, Ontario . Thunderstorms are frequent and can occasionally become severe from April to September. Destructive weather

9520-418: The membership, especially if the membership meets infrequently, such as only at an annual general meeting . The amount of powers and authority delegated to the board depend on the bylaws and rules of the particular organization. Some organizations place matters exclusively in the board's control while in others, the general membership retains full power and the board can only make recommendations. The setup of

9632-518: The name was formally adopted by a vote of 26 to 16, and Colborne also named the nearby village Moore after British military hero Sir John Moore. Sarnia adopted the nickname "The Imperial City" on 7 May 1914 because of the visit of Canada's Governor General , the Duke of Connaught , and his daughter Princess Patricia . Ethnic French colonists, who came from Detroit , were the first European colonizers of what became Sarnia in about 1807–1810; their role

9744-517: The nearly four-knot current of the St. Clair River. This was the first time that a vessel other than a canoe or other oar-powered vessel had sailed into Lake Huron, and La Salle's voyage was germinal in the development of commercial shipping on the Great Lakes. Located in the natural harbour, the Sarnia port remains an important centre for lake freighters and oceangoing ships carrying cargoes of grain and petroleum products. The natural port and

9856-429: The organization. Inside directors represent the interests of the entity's stakeholders, and often have special knowledge of its inner workings, its financial or market position, and so on. Typical inside directors are: An inside director who is employed as a manager or executive of the organization is sometimes referred to as an executive director (not to be confused with the title executive director sometimes used for

9968-710: The plants after that decommissioned and the land sold to neighbouring TransAlta Energy Corporation. TransAlta produces power and steam for industry, and is the largest natural gas co-generation plant in Canada. It has created the Bluewater Energy Park on the former Dow site. Dow returned to Sarnia in 2019, when it took ownership of a former Dupont production site on Albert Street in Corunna that modifies polyethylene and polypropylene. Lanxess produces more than 150,000 t (150,000 long tons; 170,000 short tons) of butyl rubber annually at its Sarnia location and

10080-457: The powers of the board are vested in the board as a whole, and not in the individual directors. However, in instances an individual director may still bind the company by their acts by virtue of their ostensible authority (see also: the rule in Turquand's Case ). Because directors exercise control and management over the organization, but organizations are (in theory) run for the benefit of

10192-454: The presence or absence of their other relationships to the organization. Corporations often appoint a former senior executive and ex-board member as honorary president , a position that does not carry any executive authority and represents recognition of the person's corporate governorship and performance. An inside director is a director who is also an employee, officer, chief executive, major shareholder , or someone similarly connected to

10304-407: The remaining Canadair Sabres in Canada is on display in the park. Centennial Park was opened on 1 July Dominion Day holiday in 1967 as part of Canada's centenary celebrations. The City of Sarnia decided in 2013 to close much of Centennial Park, after the discovery of toxic levels of lead and asbestos in the soil. After years of remediation, the park was reopened in 2017. Howard Watson Trail

10416-475: The rest drifts over the St. Clair River from the neighbouring United States in the form of what is known as "Transboundary Air Pollution". Sarnia is the location of Enbridge 's Sarnia Photovoltaic Power Plant . The facility underwent a full commercial operation in December 2009, with 20 MW of power. As of September 2010 , the plant was the largest photovoltaic (PV) solar power generation facility in

10528-497: The salt caverns that exist in the surrounding areas, together with the oil discovered in nearby Oil Springs in 1858, led to the dramatic growth of the petroleum industry in this area. Because Oil Springs was the first place in Canada and North America to drill commercially for oil, the knowledge that was acquired there resulted in oil drillers from Sarnia travelling the world teaching other enterprises and nations how to drill for oil. The complex of refining and chemical companies

10640-468: The shareholders are normally the same people, and thus there is no real division of power. In large public companies , the board tends to exercise more of a supervisory role, and individual responsibility and management tends to be delegated downward to individual professional executives (such as a finance director or a marketing director) who deal with particular areas of the company's affairs. Another feature of boards of directors in large public companies

10752-511: The shore of Lake Huron. Blackwell, Bright's Grove, and the western part of Huron Heights are in the northeast part along the shores of Lake Huron. Coronation Park, Fourth Line Heritage Park, College Park, Lucasville, Bunyan, Froomfield, The Tree Streets, Mitton Village, and Sherwood Village are some of the neighbourhoods south of the highway. The village of Blue Water was built to house workers and their families in Chemical Valley during

10864-430: The shores of Lake Huron. One of these, named "The Rapids", consisted then of 44 taxpayers, nine frame houses, four log houses, two brick dwellings, two taverns and three stores. The villagers wanted to change its name but were unable to agree on an alternative. The English settlers favoured the name "Buenos Aires", and the ethnic Scottish favoured "New Glasgow". Sir John Colborne suggested Port Sarnia. On 4 January 1836,

10976-611: The summer of 2017, a new festival called Bluewater Borderfest enjoyed a successful inaugural event. Besides the single museum in Sarnia proper, six other local museums document Sarnia's history, including its legacy as the home of the North American oil industry. Gallery Lambton offers 12 annual art exhibitions. In 2012 the Judith and Norman Alex Art Gallery opened. It is an international Category A art gallery, featuring exhibitions of Canadian art history, including paintings from

11088-460: The waters of the St. Clair River. One of these companies was Northwest Transportation Company of Sarnia, founded in 1870. By 20 April 1914, when Parliament passed An Act to Incorporate the City of Sarnia , the population had grown to 10,985 in six wards. Sarnia officially became a city as of 7 May 1914. Sarnia's grain elevator, which in the early 21st century is the 15th-largest operating in Canada,

11200-447: The winter, Sarnia occasionally experiences lake-effect snow from Arctic air blowing across the warmer waters of Lake Huron and condensing to form snow squalls over land. The name "Sarnia" is Latin for Guernsey , a British Channel Island . In 1829 Sir John Colborne , a former governor of Guernsey, was appointed Lieutenant Governor of Upper Canada. In this capacity, he visited two small settlements in 1835 that had been laid out on

11312-465: The world such as a corporation, limited liability company, cooperative, business trust, partnership, private limited company, and public limited company. Much of what has been written about boards of directors relates to boards of directors of business entities actively traded on public markets. More recently, however, material is becoming available for boards of private and closely held businesses including family businesses. A board-only organization

11424-619: The world, putting out 97 MW. The 32 ha (80-acre) Western University Research Park, Sarnia-Lambton Campus was established in 2003 by the University of Western Ontario as a joint initiative with the County of Lambton and the City of Sarnia. The park is also the location of the Bioindustrial Innovation Centre, Canada's centre for the commercialization of industrial biotechnology. In 2015, BioAmber opened

11536-604: The year). The railway normally used its own steam locomotive, number 41, or a diesel for these runs but on 12 days each summer RMRS provided 6060 as power. The trips occurred along a line built by the Canadian Northern Railway between Stettler and Big Valley in Alberta , Canada. The length of this run is 77 km (48 mi) round trip. As there was no capacity to turn locomotives at Big Valley, 6060 ran in reverse to that location, and then returned in

11648-628: Was $ 33,833, while the median family income was $ 86,654, in line with the averages for Ontario as a whole, at $ 33,539 and $ 91,089, respectively. In 2021, the median price of a house in Sarnia was $ 430,000, compared to the $ 887,290 of Ontario as a whole. In its March 2011 Labour Market Report, the Sarnia-Lambton Workforce Development Board states that: "Even though employment in both the petrochemical and agricultural industries has declined significantly in recent years, these two industries remain central drivers of

11760-582: Was based on the wealth of virgin timber in the area, at a time of development around the Great Lakes. Lumber was especially in demand in the booming US cities of Chicago and Detroit . The discovery of oil in nearby Oil Springs in 1858 by James Miller Williams , and the arrival of the Great Western Railway in 1858 and the Grand Trunk Railway in 1859, all stimulated Sarnia's growth. The rail lines were later linked directly to

11872-472: Was born in Sarnia and developed his radical schizophonia techniques there. The Sarnia Bayfest (which was preceded by the "Festival by the Bay") was an annual concert festival that featured big-name rock and country bands. Musicians and groups such as Aerosmith , KISS , Keith Urban , Jon Bon Jovi and Rascal Flatts have played at the event. Financial problems caused the event's cancellation in 2013. In

11984-431: Was built in 1927 after the dredging of Sarnia Harbour to allow access to larger ships. Two years later, grain shipments had become an important part of Sarnia's economy. The grain elevator rises above the harbour, and next to it is the slip for the numerous bulk carriers and other ships that are part of the contemporary shipping industry. They include vessels from all over the world. The waterway between Detroit and Sarnia

12096-561: Was endorsed by the House of Lords in Quin & Axtens v Salmon [1909] AC 442 and has since received general acceptance. Under English law, successive versions of Table A have reinforced the norm that, unless the directors are acting contrary to the law or the provisions of the Articles, the powers of conducting the management and affairs of the company are vested in them. The modern doctrine

12208-518: Was expressed in John Shaw & Sons (Salford) Ltd v Shaw [1935] 2 KB 113 by Greer LJ as follows: A company is an entity distinct alike from its shareholders and its directors. Some of its powers may, according to its articles, be exercised by directors, certain other powers may be reserved for the shareholders in general meeting. If powers of management are vested in the directors, they and they alone can exercise these powers. The only way in which

12320-575: Was instrumental in gaining approval for the historical plaque. Sarnia has a humid continental climate ( Köppen climate classification Dfb ), verging on the hot summer subtype Dfa . Winters are cold with a few short-lasting Arctic air masses that dip far enough south and bring with them daily high temperatures below −10 °C (14 °F). Sarnia, while not quite located in the southwestern Ontario snowbelt, sometimes receives large quantities of lake-effect snow . Sarnia averages 112.0 cm (44.1 in) of snow per year, while London, inland and to

12432-430: Was named after the retired president of CN in 2004, was bored and began operation in 1995. It accommodates double-stacked rail cars and is located next to the original tunnel, which has been sealed. A petroleum industry was established in the Sarnia area in 1858, and in 1942, Polymer Corporation manufactured synthetic rubber there during World War II , enhancing Sarnia's notability as a petrochemical centre. During

12544-484: Was typical for the design to run without change from Montreal , Quebec, to Halifax, Nova Scotia , for a total of 1,353 km (841 mi). As a result of being constructed during World War II when the need for more locomotives was high but the ready supply of iron was low, the U-1-f class of 4-8-2s, of which 6060 was the first, were lighter and more versatile locomotives than the U-2 Northerns. 6060 rolled off

#227772