Ontario Budget

I have read through most of the post regarding the federal budget but none on our upcoming provincial budget, and the sale of Hydro One. This government and the NDP remind me so much of my dear Leafs of the past 48 years, spend lots of money to get what they want tomorrow and not think of down the road. A previous government sold Hwy 407 to give us a balanced budget for one year, now what a money cow it is for some foreign firm. I have never driven on or heard of a more expensive toll road. I live in the north and lived in the south most of my life and the hydro rates up here compared to the south are sick, and being sold to any outside interest is surly going to bring higher rates. Hydro One like the 407 are and were public companies, we as Ontarians are shareholders in these companies. Were we asked when asked to vote not so many months ago if we favor selling this company to keep election promises? Do you think the results would have been the same? Well I vented and fell much better, getting ready to put the docks in, the boats ready and await opening

I typically keep quiet when it comes to politics, both on here, and in the real world, have my views, etc. but pretty much keep to myself. This one, is the one that got me.

When I first heard the term "to fund the public transit system" I thought, hmm... didn't realize we were getting a new provincial transit, system.. cool...

Ohh wait....

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All proceeds will go toward a 10-year, $29 billion infrastructure plan that includes $15 billion to build public transit in the Greater Toronto and Hamilton Area.

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That makes sense, sell of something every person in Ontario pays for, to fund something that only the GTA will use, because as I often forget, Ontario's boarders don't extend beyond the GTA.

You want a new upgraded transit system, more power to you, how about making the people / city's that use it, pay for it.

It be like me saying, ya know, our roads and water sytems are horrible here in Timmins, every spring the roads open up to be creators, and every winter its water main break after water main break.

I got an idea, lets sell a portion of Ontario Hrydo, I know, everyone in the province pays for it, but if you come visit Timmins, you'll have nice roads to drive on, thanks! :)



Hope we all get a bus seat named after us.

As I said before Nothing these Bastards do is for the betterment of the province or the taxpayer only for the liberal party.

http://www.torontosun.com/2015/04/23...-us-in-red-ink

The 407 was leased for 99 years. The Province still owns it. Once a controlling interest of Hydro is sold it's gone forever. "Forever" scares me when it involves something as fundamental to our well being as hydro. If you object to the 407 deal I get that but you don't have to use it. You realistically can't opt out of Hydro.
Wynne will not invest in ridings she doesn't need.

I get a charge out of them using a micro brewery as a backdrop. Only a very selected few will get beer franchises for grocery stores and every one of them will be owned by Loblaws/Superstore/No Frills....The Weston Group,you know,mega-huge Liberal supporters. This smoke and mirrors dog-and-pony show over the budget is designed as a distraction from real issues like selling most of Hydro 1 and the rest of the nonsense. This shows the contempt Wynne & Co. have for voters. What a joke. It wouldn't surprise me to see Justin Trudope try the same tact with Marijuana legalization. After all,the federal Liberals already have the university kids and all of academia completely smoked.

Contempt for voters Trimmers? That implies people are onto them but they do it anyways.

I’m not as sure anymore. Think it’s more a case of knowing that she can say anything, do anything and sell it or get away with it.

Controlling interest will stay with the government, at least until the lawyers find the loophole....Why should private investors want to own a company that should be non profit?

Remember when Mike Harris split up Ontario Hydro and was looking to "decontrol" (lease out) power generating stations? Remember all of the screaming? I guess that is bad but outright selling the company responsible for transmission of electricity in this province is ok???? Boggles my +#@king mind.

As for beer sales. Really it is just taking the monopoly away from multinational conglomerates (Inbev, Coors) and opening it up to Canadian conglomerates (Weston)

The issue, as pointed out to me be a friend that is very left, is it will kill well paying Beer Store jobs and hand responsibility of alcohol sales to minimum wage part time grocery store employees. Nothing against these employees, but rather Mr West on will be walking away with the higher profit on the backs of employees that grocers refuse to hire full-time at decent (living) wages.

There are already a multiple Local Distribution Companies in Ontario, and typically their customers enjoy lower monthly hydro bills.

Cornwall Electric, the city sold the business to Fortis (a east coast company) and still have lower rates than hydro one
Ottawa Hydro, pays a dividend of about $20 million per year to the city of Ottawa
Ottawa River Power Corp, provides the distribution grid in Pembroke, Killaloe and Almonte, it buys it power from a private company in Quebec for Pembroke. Pays a dividend of about 2 million to the city of Pembroke

the problem with Hydro One is exactly what other have said in other posts about the current provincial government. That they couldn't even properly run a lemonade stand. Well, their lemonade stand is Hydro One.

let 60% get taken over by true business minded people and start into right sizing the management structure. It would make your head spin to know how many millions are wasted on senior management positions that if removed, nobody would notice.

for too long hydro rates have been based on a formula of Payroll + material + cost of raw generated power + profits for government

nobody cared about the payroll, it is what it is. That has to change. The office at 483 Bay Street needs to dissolve.

i don't think they are going far enough, they also need to down size the Ontario Energy Board , Ontario Power Authority and Electrical Safety Authority. Three entities that were supposed to be small but have grown into large sunshine lists.

Kind of off topic but driving down from Bancroft along 28 I noticed that they are replacing all of the brand new pressure treated poles with what looks like fiberglass poles. I guess there is something wrong with the PT poles that they figured out a year after they put them in .... Maybe it's things like this that will change?

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Originally Posted by Pat32rf

Controlling interest will stay with the government, at least until the lawyers find the loophole....Why should private investors want to own a company that should be non profit?

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Pat it might be interesting to watch the IPO. I’ve read more than couple articles, speculating that it just might not go very well. The more I thought about it, the more sense various thoughts made.

At it simplest, would I invest $10,000 or even $1,000 of my money in it? Not a chance.

So it’s fine and dandy for Ms Wind and Mr Sousa to talk about raising how ever many billion by selling off 60%. It’s only worth what someone is willing to pay for the shares.

Bay Street is behind the sale for various reasons. Not the least of which is Ms Wind doesn’t have many options. She won’t do what’s necessary for obvious reasons and what everyone that matters has been saying needs to, and should have, been done. Instead she’s hammering us as much as she can, it’s still not enough.

“Interesting” times ahead for sure.

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Originally Posted by Rugger

Kind of off topic but driving down from Bancroft along 28 I noticed that they are replacing all of the brand new pressure treated poles with what looks like fiberglass poles. I guess there is something wrong with the PT poles that they figured out a year after they put them in .... Maybe it's things like this that will change?

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The pressure treated poles were found to be rotting on the inside. Hydro has to replace them under a warranty claim against the supplier of the poles.

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Originally Posted by JBen

Pat it might be interesting to watch the IPO. I’ve read more than couple articles, speculating that it just might not go very well. The more I thought about it, the more sense various thoughts made.

At it simplest, would I invest $10,000 or even $1,000 of my money in it? Not a chance.

So it’s fine and dandy for Ms Wind and Mr Sousa to talk about raising how ever many billion by selling off 60%. It’s only worth what someone is willing to pay for the shares.

Bay Street is behind the sale for various reasons. Not the least of which is Ms Wind doesn’t have many options. She won’t do what’s necessary for obvious reasons and what everyone that matters has been saying needs to, and should have, been done. Instead she’s hammering us as much as she can, it’s still not enough.

“Interesting” times ahead for sure.

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I wouldn't be investing in any IPO for Hydro One,but,I sure would in Weston Foods when they have the exclusive contract for beer sales..

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Originally Posted by trimmer21

I wouldn't be investing in any IPO for Hydro One,but,I sure would in Weston Foods when they have the exclusive contract for beer sales..

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Are they still only going to be allowed to sell tall boys and six packs at the grocery stores?

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Originally Posted by B Wilson

Are they still only going to be allowed to sell tall boys and six packs at the grocery stores?

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I'm not sure. I just talked to our local No Frills owner and he said that he may only be able to sell "craft brewery" products which might not be such a biggie. He said he hasn't recieved info on any of it ,yet,from Loblaws. He's wandering around in the dark,too.

I had heard that they were dangerous to climb with spikes but I can't imagine the new poles to be any better. Thanks for the info BW, hopefully the rate payers won't end up footing the bill then.

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Originally Posted by B Wilson

The pressure treated poles were found to be rotting on the inside. Hydro has to replace them under a warranty claim against the supplier of the poles.

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