Just caught the tail end of the article on channel 11. Not totally sure if it was the 401, but selling off part of a highway, to help with paying off the debt, is part of what I heard.
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Just caught the tail end of the article on channel 11. Not totally sure if it was the 401, but selling off part of a highway, to help with paying off the debt, is part of what I heard.
Are you sure it wasn't Hydro One ??? They talked about that in the news today.
I'm still ticked we sold the 407, rates are thru the roof and we get none of the benefit as tax payers. If we sell Hydro One will our rates go down?
We still own the 407. It was leased only.
Not entirely true/accurate (not sure word).Quote:
Originally Posted by DGM999
First of all we do benefit in ways because CPP (Canada Pension Plan) has a fairly significant stake. So the better (more profit) the 407 does, the better return on the investment for your Pension (and other Pension Plans).
http://www.marketwired.com/press-rel...ll-1330116.htm
http://www.canada.com/story_print.ht...d-1046fa50ad8a
I'm not sure and don't feel like splitting hairs, but the Harris Govt sold the "rights" (right term?) in the form a lease. A 99year lease. Again, I don't want to dig through the nitty gritty and could easily be mistaken. Working on the premise its a lease, what happens when they expire? "Sold the 407" is just something the Left likes to throw around and is a bit of a misleading misnomer (if Im not mistaken)
From this 2009 article in the Star
Have to love the way politicians get cute with words so people hear what they want to hear. "Blame Harris, he sold the road to a private firm in a 99 year lease"....Scuse me, double speak and double check? :)Quote:
They are right, said Bradley, who added consumers should not be angry at the Liberals but rather at the Progressive Conservatives, who sold the highway when the government was looking to raise cash in 1999 to balance its books. The Tories sold the road, built with taxpayers' money, to a private firm in a 99-year lease for $3.1 billion
http://www.thestar.com/news/ontario/...ster_says.html
If and when Ms Wynne sells off any of the assets they are talking about, they will be "sold". I believe with Hydro One they are talking about selling their shares (stake) in it.
I've now read a few articles that are out there today on the topic. This may be the most informative with respect to what they are considering and the structure it's likely to take.
imo, pay close attention to the last 2-3 paragraphs...Its usually the fine print :) (or what comes last)
http://www.theglobeandmail.com/news/...ticle23382220/
Any initiative, any business deal that involves this government should be viewed as suspect and self serving. These people couldn't make money with a lemonade stand in the desert. If they say white you can assume they really mean black. I shudder to think how much payola and fraud is involved with the coming PANAM games.
With this asset fire sale by Wynne I am waiting to hear from the members here who have cursed Harris incessantly here for the 407 deal. Interestingly they seem to be quiet these days.
Maybe we could sell Wynne's whole party, Toronto would probably snap it up.