Magna Entertainment Corp. chief executive officer Jim McAlpine received a $200,000 bonus last year for his "contribution to the growth and development of MEC during fiscal year 2003," according to proxy material being circulated.
Magna Entertainment Corp. has begun management-level workforce cuts in an effort to reduce the company's growing losses.
Magna Entertainment Corp. increased revenue 59.7% in the third quarter but the company's losses continued to widen.
Magna Entertainment Corp. has officially announced the appointment of Roman Doroniuk as chief operating officer and John Perrotta as vice-president of operations.
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