Once again the boondoggle known as privitization in Ontario has reared its ugly head in the form of the oft mentioned Highway 407.
Yet again the operators of this once taxpayer owned highway is plagued with troubles. Not satisfied with repeatedly raising rates, it has recently been revealed that it is double billing its customers. When said customers rightly refuse to pay twice, their cases are sent off to collection agencies and they are getting several calls a day to pay up. The foreign owners of this highway now want the province to suspend the licenses of those people who refuse to pay twice. How'd you like that?
A Toronto M.P. Mike Colle, held a public meeting to hear complaints from customers of this notorious highway.
This whole mess is a rotten deal. We were sold out by the government of the day, which was a Conservative one.
Our taxes built that highway and it was supposed to be paid off and then used to relieve the traffic jams on Highway 401. Instead the Tories sold the highway and inked a bad deal to boot.
Whoever said that Conservatives are good at managing the economy, should take a close look at this particular deal. It is a dead giveaway, with all the advantages being held by the owners of the highway.
If people who use this highway have problems in the future, they should consider suing the Ontario Conservative Party as well as former and current members of the cabinet and government that voted for what amounts to highway robbery.
In the meantime the Conservative Party ought to consider a name change.
The Highwaymen would be a good one.
Monday, November 29, 2004
Friday, November 19, 2004
Accountability for investors
SEC accuses Black of fraud
The U.S. Securities and Exchange Commission has filed a lawsuit against Conrad Black and his top deputy David Radler, accusing them of using the newspaper company they ran as their "personal piggy bank" over a period of four years.
In a suit filed in federal court in Chicago, where Hollinger International is based, the SEC accused Black and Radler of siphoning money from the company to themselves and then misleading the board about those transactions.
Stephen Cutler, the SEC's head of enforcement, said the two men ``abused their control of a public company and treated it as their personal piggy bank."
Hollinger publishes the Chicago Sun-Times and The Jerusalem Post. Until recently it also owned The Daily Telegraph of London.
The suit adds to Black's legal troubles. The Canadian-born businessman is already being sued by Hollinger International for the recovery of money it says he improperly diverted to himself and his associates.
The company's lawsuit makes broader accusations against Black and claims that he and his associates and companies under his control caused more than $500 million (U.S.) in damages to Hollinger International.
The U.S. Securities and Exchange Commission has filed a lawsuit against Conrad Black and his top deputy David Radler, accusing them of using the newspaper company they ran as their "personal piggy bank" over a period of four years.
In a suit filed in federal court in Chicago, where Hollinger International is based, the SEC accused Black and Radler of siphoning money from the company to themselves and then misleading the board about those transactions.
Stephen Cutler, the SEC's head of enforcement, said the two men ``abused their control of a public company and treated it as their personal piggy bank."
Hollinger publishes the Chicago Sun-Times and The Jerusalem Post. Until recently it also owned The Daily Telegraph of London.
The suit adds to Black's legal troubles. The Canadian-born businessman is already being sued by Hollinger International for the recovery of money it says he improperly diverted to himself and his associates.
The company's lawsuit makes broader accusations against Black and claims that he and his associates and companies under his control caused more than $500 million (U.S.) in damages to Hollinger International.
Monday, November 08, 2004
Used subs
Canadas used submarines, bought in good faith from Britain are now undergoing a check of their eletrical systems as part of an investigation into what went so horribly wrong in the tragic death of a submariner on the ill fated Chicoutimi.
Investigators are focussing their efforts on the subs electrical wiring.
Investigators are focussing their efforts on the subs electrical wiring.
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