L E T   ' E R    R I P !!!!!

Where is the 2008 annual report for the Northern Development Trust Fund? This Trust fund was founded with monies from the BC Rail Sale, and according to its 2007 annual report was supposed to have over $200 million in its coffers at the end of 2008.

Could it be reckless investments have decimated the money and they are waiting until after the election to tell us? If they lost half the money, then I guess the sale of BC Rail looks like even a worse deal for the public than before.

"reckless" investments had dropped the money down last year. Depends on whether they kept them there or moved them out and put them into bonds. At the moment, if they had the money where they had lost, they would be gaining again.

The interesting thing, of course, is how much money BC Rail would have lost and perhaps still be losing as a result of a downturn in the industry. Do not assume it would be a great stock or company to have at this time.

Even the best quality companies in the country were oversold last year. (that means underpriced by about 30%) Canada Pension was down 15% and it is a very conservatively managed pension plan. So, reckless is not how I would describe properly managed pension money. After all, the money is managed for the long term, not 6 months or 1 year.

If I make money while on welfare or EI my payments are clawed back, right. Natives collecting money for the use of their traditional land, forestry, oil, pipelines etc. Do they have any government payments clawed back?

I guess the main point is that we are kept in the dark. The 2007 annual report was audited and cleared February 2, 2008. Is it just a coincidence that this is an election year and there is no report made public yet?

Gus, the last year BC Rail operated it was on track to make $128 million. I'm not sure why anyone would presume that it would have lost money. Its easy enough to cut jobs- CN cut over 100 here in PG alone. And the prospects for BC rail over the next 999 years I think would be much better than the prospects for whatever remains in the Trust Fund. That seems to be more than what is left in the Trust Fund.

Chester, if you look at the 2007 annual report, it gives an overview of the Trust fund investments. 44% are in equities, 24% are in short term bond funds(commercial paper?). Don't be surprised if the Trust fund has lost half its value. Given its silence on the matter, I would expect the worst.

So what is the difference up here in the north. BCR gets sold to CN. The service that they provide has changed a bit. but some people are still employed. Its better than it being subsidized by tax payers. BCR executives could not reduce its workforce if things got tight, CN can and has, because, its more important to survive thru these tough times. Alternatively, what would happen if the Government still owned BCR, you guessed it, we would likely be subsidizing them to well over the $120million a year. Eventually, deciding to shut it down and lease it to CN for less than what they got.

What I don't agree is on a 999 year lease. Should have been no more than 40 years and a option for renewal. The other side is, we should have incorporated a percantage of revenue.

The Northern Trust Fund, is here not to make money. Its here to leverage bigger development. Thus they are willing to put in 10 million, if the company puts in 20 million, and banks put in 70 million and employ 200 people. The Northern Trust does get this money back from the business, but its there to be a catalyst.

Sometimes they put it into publicly funded projects. The reason being, what helps a small community like Burns Lake, feel good about themselves, they are willing to stay in Burns Lake and spend money.

Eventually, they will need get more money from the government, to build up there kitty. It is another way for us Northerner to govern ourselves, so don't knock them.

"If I make money while on welfare or EI my payments are clawed back, right."

True for any money you earn while you are on welfare or EI. Once you go of them and earn money, that money is not clawed back.

"Natives collecting money for the use of their traditional land, forestry, oil, pipelines etc. Do they have any government payments clawed back?"

Using your example of welfare and EI, I would think that if they are receiving government money it would depend what it is they are receiving it for.

In my opinion, if it is for a settlement of past failures of government to make treaties with them, then they should continue to receive those payments.

If it is for current maintenance that is not treaty related, then I would think that those payments should at the least be looked at to see if they make sense in light of other income.

"He spoke" obviously does not understand the purpose of a Crown Corporation whatsoever!
BCR could deliver services regardless of the economy. IF times were good, it pumped money into gov't revenues which amounts to tax relief.
Now we go by the private enterprise model. When times are poor, services are reduced. When times are good, money goes to the company.
As 99.5% of us are NOT shareholders in CN, we get to see the worst no matter what happens. No service, no savings.
And I will go so far as to dare anyone to state a single case where privatization has resulted in better service to the public as a whole OR reduced prices.

"And I will go so far as to dare anyone to state a single case where privatization has resulted in better service to the public as a whole OR reduced prices."

Air Canada, both better service and reduced prices. Check and mate.

Hi seamutt
I am no supporter of the welfare system as it applies to anyone, much less the native population, however the do get reductions in INAC funding if they generate their own revenue, ie McLeod Lakes pipeline rightofway payments reduce INAC funding.

Crown Corps are always bloated and inefficient. What we should have done was kept the track public and privitized the operations. This would have created competition on service however one of the reasons to sell was the massive cost of maintaining track, so it may not have been an ideal solution.

Without competition we are at the mercy of a state owned monopoly. It can do anything it wants to do. ICBC is a good example. It sets the rates and treats customers the way it wishes to. We had our own experience and it wasn't very pleasant.

Having several private corporations does not guarantee competition, that's why there is legislation outlawing price fixing, so they can't get together to jack up profits. At least with a publicly owned monopoly the prices and services can be based on what is needed by the public. Don't you recall the furore a few years ago in the Atlantic region about the obscene increases in auto insurance rates?

Deadwood, I guess you don't understand how the real world makes a living. Your probably one of those government workers who has no idea how the money ends up in the government coffers. Your one of those people that spend there entire employment life in a comfortable and safe situation. Thus you have grown so accustom to being overpaid, you have over spent. thus you need to do what ever it takes to protect your cushy government job.

Wake up and smell the roses, we are the ones paying your lifestyle, while we barely make ends meet. out with socialism

So He spoke government is not perfect, so whats the first dept. you want to get rid of. The size of government is in direct relation in how much protection we need from the private side of life. The best example right now is the financial melt down. As more financial regulations where taken away in the U.S. more financial institutions took advantage and look at the result. In Canada the financial institutions are more heavily regulated thus we are in better shape.

Quote, Your one of those people that spend there entire employment life in a comfortable and safe situation. Thus you have grown so accustom to being overpaid, you have over spent. thus you need to do what ever it takes to protect your cushy government job.
From the above I can see that you personally now diddly about government jobs. I am paid in line with my education and training.

What is up with all the freakin' garbage on Foothills! Are people seriously that idiotic!!!

Is it just by chance that the BC STV signs look like NDP colours at first glance?

I wish people would lose those idiotic car flags.

BCNDP "Because everyone matters if they're in a union"

"At least with a publicly owned monopoly the prices and services can be based on what is needed by the public."

Yea right. And hows that working out for the FORMER (as in long dead) USSR?

"I am paid in line with my education and training."

Saying that doesnt make it so. If you are general labor (ie not a skilled trade or professional) then you are overpaid in a government position and everyone knows it (with the exception of the actual government employee).

Then get a government job!!!!

Of course we need regulation of financial institutions, standards that they must be adhered to. Consumer protection from illegal and criminal conduct is necessary.

"Having several private corporations does not guarantee competition, that's why there is legislation outlawing price fixing, so they can't get together to jack up profits."

Fortunately there is no legislation in place yet that forbids the LOWERING of prices by competing private corporations.

"At least with a publicly owned monopoly the prices and services can be based on what is needed by the public."

Don't include me in that kind of "public." I still like to have some basic freedoms of choice - like what MY needs are and not what big brother thinks they must be, or else. Nothing is more oppressive than a well intended government that oppresses people by regulating their freedoms away.

Overly intrusive control by big brother government is not everyone's preference!

What's next?

rambleon -- My own observation -- actually the BC-STV colours remind of the rainbow flag, which celebrates inclusion and diversity ... could be a parallel message there, since the whole idea is empowering the vote beyond first past the post.

On another topic:
Regularly I walk my dog down a road where during a portion of the winter families park their cars and engage in recreation at a nearby facility. The number of DIAPERS in the ditch each spring is appalling -- do(some) people think that just because garbage disappears in a snowbank that it will just ... well, disappear? Some people are considerate folk and environmentalists until no-one else is looking.

Okay folks..... get out those hummingbird feeders.... fill them up with fresh sugar water (1:4) juice and hang them out...

The little darlin's are BACK !!!!


:-)


V.

indeed RRabbitt...
one part white sugar to 4 parts water,and please don't use brown sugar or the red food coloring.
Love to watch them do their thing...

When I first moved in to my apartment complex, I was very surprised to see several shopping carts. I wondered then if the building managers were stealing shopping carts to use as "dollies" in the building. After coming across posts from other Canadians and Americans, I realized it's a common practice for some people to shop and then bring the shopping cart home with them, although I've never seen a tenant here "bringing home" a cart.

That was disillusioning. It seems those who steal carts justify it by saying that they don't have a car and so they do what they have to do. I don't get that at all. I don't have a car too but I can never see myself bringing home a shopping cart. I've been using a wheeled tote/shopping bag.

Do stores just write them off? We probably have close to 20 shopping carts in our apartment building/parking area.

Shopping carts? Take a picture of them. set up a booth downtown and then sell them to the homeless.

"Fortunately there is no legislation in place yet that forbids the LOWERING of prices by competing private corporations.
"

Quite true, which is why BC has a mixed economy which can give the best of both worlds.

"Nothing is more oppressive than a well intended government that oppresses people by regulating their freedoms away."

I think there are several political systems that are far worse than that - fascism and religious fanaticism are two examples.

Good news for Macktown, just hope it's not another election promise that goes sour after the big day!

Saturday afternoon and the Friday store is still open.

$11 Million from the Northern Development Trust Fund was loaned to the PG Airport Authority, at interest rates tied to inflation. This money was used to help pay for the **Build it and they will come** airport runway expansion.

No planes have shown up to date. Nor has their been any new business locating at the Airport. You can kiss this $11 Million goodbye.

I havent seen the 2008 year end report for the Airport Authority, but would suggest that they are border line broke, and they have a number of loans coming due in the next few years, plus they are supposed to start paying the Federal Government rent for all the facilities they lease from them. These lease payments are supposed to start in 2011.

Who wants to bet that the Northern Trust Loan will be extended, and that the Federal Government will give them an extension on their lease payments. Failing that the Airport will have to revert to being run by the Federal Government.

Sunday free-for all ....

Why should the airport not get a bail out? Lots of other less deserving organizations are getting bail outs in these times.

Notice that the proposed changes to the entrance of the building have not taken place yet.

Did you hear they are planning on building some sort of rapid transit line to the airport?