Guest Post by “Agent 13”
Feeders and The Atlantic Accord
(who’s
running this place anyway)
We have all heard the old joke about the Alien looking down at
St. John’s and seeing humans picking up after their dogs, coming to the
conclusion that the dogs must be in charge.
This got me wondering what the same Alien might conclude if
they listened to our local News.
Could they identify our Leaders?
For starters, a totally stressed City Council have figured out the pressing issue is that “some” people in St. John’s have too many bird
feeders. They want an immediate stop to the trend. The City plans a new by-law.
Next, the Provincial Government announces that they have not
figured out how to remove garbage from cabins but will cancel garbage pick-up
just in case it works.
And for good measure, they want to bring back the good ol’
days when people fired trash in the woods. Good job there, Graham Letto!
Of course, at the bottom of all of this is the idea that the
cabin owners won’t have to pay. How often does the Government get to do a
little electioneering without it showing up in the deficit? Genius. See, “The
Way Forward” is working.
 |
| Limit yourself to two, please. |
Then, too, instead of dismantling Nalcor we are going to break
it up and have even more Crown Corporations. Wow, a new Oil and Gas Company…the
waste from the latest fiasco not even tallied.
Hey, wait a Gosh darn minute, now buddy. You forgot the
politics of this major public policy decision. Oh right. A new name
awaits? (Suggestion: call it BLUFF INC.
It’s shorter than Nalcor and it would be instantly more transparent, too.)
Yes, the Government is borrowing money to buy shares in an oil
field that we already own. But what’s your point? There are always winners and
losers. Take one of the winners, a former former Deputy Minister, for example. The government triples
his wages to $340,000 and lets him live on the Continent.
Besides, who would care when there are over 100 “consultants”
on the Lower Churchill Project making even more? At least the rest of us are
comfortable knowing that the culture of government smells like it always did.
The politicians are going to the PUB for help to figure out
the electrical rate mess caused by Muskrat Falls. This, after the PUB was
removed from the review in the first place. Sort of ironic, isn’t it? No one has a clue how to fix the mess. There
is even confusion whether the PUB is actually a MINT. The buggers are so
stunned they don’t know that’s in Ottawa.
Finally, what’s the news on the Atlantic Accord? (Arguably the
most important document to NL next to the Terms of Union.) Sorry. Nothing is going on that isn’t going
on behind closed doors. Our leaders in
the Provincial Government know best. Stand by for the good news!!
Except, this is the same government which gave away many of
the benefits of the White Rose Extension and bought shares in the Bay du Nord
project which provides for little to no local fabrication.
The government says, trust us – we know what we are doing. We
know what’s best for the people of NL. That’s why, echoes of Danny, we wait for
Dwight to say: “WE GOT IT!”
Meanwhile, in the Executive Offices of Nalcor, delusion
appears to have overtaken a second CEO. There are reports that, inexplicably,
by mid-afternoon Stan Marshall takes to running for his guitar. Marshall has a single repertoire. He plays only the
ballad of John King. That would be fine except that in place of “Big Bad John”
what is heard throughout the entire blue building are the words: “FINISH
STRONG”.
The Alien was right. This place has gone to the dogs!!
Agent #13
Desperation and condemnation!!! The inquiry has come around to current times, 2016-2018, and how business is being done now compared to how it was done. We have the chief fincincial officers of nalcor telling us how they were forced to operated, how they played the game. The chess game, how the pawns etc. were played. But how about the rules of the chess game, no one is looking at that. The rules of the game as determined by the money, or FLG agreement; complete at all cost, do or die, do and die too. What kind of oppressive govts. would write an agreement based on those rules?? Complete the project or we will step in and complete it for you and send you the bill. We ran out of the first loan guarantee, and instead of re- evaluating, they said here is loan # 2, what if it exceeds loan # 2, will there be loan # 3. Ten years ago who could have projected what the interest rates might be today, ( thank god they have remained relatively low) but no matter what they were compleation was mandatory. What if the north spur had failed, and may yet do, compleat at all cost. When it's determined we are throwing good money after bad money, doesn't matter, complete at all cost by one govt. or the other. Crazy!!!! And who is paying for this completion at all cost. The FEW rate payers of this province???? What kind of GOVERMENTS do we have to sign a contract, one out of DESPERATION, and the other out of CONDEMNATION!!! Ask Joe blow.
You have a worried mind Joe, and for reasons stated. God had nothing to do with zero interest rates. Corrupt World Bankers are in the final stages of the $ reset. Whether or not the local powers gave a rats ass to the foreseeable financial disaster unfolding, with the high risk Muskrat project, we were all pushed by the banking interests, who always come out on top say when bank interest rates go back to norms above 6%! Read some Jim Willie, "The Jackass".
I hear you, Agent 13, yesterday there was a story on VOCM that was about, 'Condolences pour in to government house on the death of Judy Foote's 16 year old puppy dog'!!**..
VOCM? Since when did VOCM become a "news" outlet. It is more appropriately the Fox news of Newfoundland.
The News is full of filler that pushes out real news. A 16 year old dog passes on, moves to ban plastic bags, limit bird feeders, special rights for every human variation possible …it is all trivial and not important. What is sorely lacking is real journalism that digs up things Government doesn't want printed, and politicians willing to actually serve the public good. I would consider this blog journalism. VOCM certainly is not.
We have massive debts, a spending problem and a dysfunctional public service. Nalcor is super corrupt and the rest of government is not much better. We need fisheries planning with marine preserves to rebuild stocks, we need control over where the fish is processed and so much more. Worse yet is that most of what we need has been studied many times. You want to fix the ferry system, well there is an excellent study on that, languishing on government computers, often completed at great expense by good consulting firms. However, the recommendations are ignored. This has been going on for decades – problem identified (jobs, roads, ferries, healthcare, fisheries), studies ordered, paid for and shelved.
Aliens coming to earth and observing would come to the conclusion that Earth has a human infestation problem. So much potential yet fatally flawed and destructive species.
Ferries service for all small towns without roads should be high speed bio-diesel passenger only catamarans. I have seen a specification from one manufacturer that they use 3 LITERS of regular diesel per nautical mile no matter how many people or how much cargo is on board, and that is for a very large one, somewhere between 100-300 passengers and may well have been an automobile catamaran ferry (sorry I can't remember exactly the capacity, but the 3 L/nautical mile is absolutely what they claim). Catamarans have shallow draft, can dock (at least) anywhere a 65 foot fishing vessel cam go, if not more places, have less surface area touching the water, less friction/resistance, they actually rise up out of the water the faster they go, which is usually twice as fast as any ferry of any size we have ever had or leased (Marine Atlantic included) so they can literally run circles around our current fleet of up to 50 year old rust buckets. They can handle general cargo, you can even load a 20 foot shipping container on some if they are configured or reconfigured with a big enough cargo deck. If a soon to be de-commissioned one was bought used from Bay Ferries in San Fransisco Bay/San Jose area, (which were purely for passenger commute across the Bay Area) a cargo deck could easily be expanded upon and a freight crane installed reducing the need for shore cranes.
An aluminum catamaran can handle ice infested waters (they are used as tourist vessels in Alaska, traveling to the head of fjords to observe glaciers calving off bergy bits and growlers and are automobile ferries are used for year round services). Further strength can be added to seams in the form of carbon fibre or even kevlar which reminds me there is only recently a new form of alloy with aluminum and steel using carbon. Some are built in Canada, but if we are building new I'd love to see Clarenville shipyard have some stage of the work to redeem themselves, but I am confident that Harbour Grace could handily knock it out of the park first try, and the good people of Marystown are absolutely itching
to do something so grand! Take that to the bank. The grand banks.
Why invest in such a thing? Well, they can be dispatched to fill in so quickly to any place where our current fleet of rust buckets so frequently break down or languish in extended and increasingly frequent and often longer than expected time in drydock. For example a catamaran passenger ferry could have been dispatched to Pilley's Island/Long Island/Little Bay Islands run in Notre Dame Bay in and out before the wind had a chance to chinch the coast with sea ice instead of leaving people stranded for weeks on end.
Catamarans would save money in emergencies for any town that has ever experienced a road wash out in heavy rain in that they are way cheaper than the government having to lease helicopters for tens of thousands of dollars per hour, if wind even allows helicopters to fly. Sometimes they have done this just because of ferry breakdowns too. All true facts. I mean get Grandma to her doctors appointment in Gander, but do we need to burn jet fuel to do it? Only slight exaggeration.
Like I said, catamarans are passenger vessels that can dock anywhere a 65 foot fishing vessel can. They don't have ramps, don't need specialized ferry ramps at dockside either, but you can crane aboard quads and snowmobiles, and many have bike and kayak racks or can be added to used vessel or are offered by manufacturers. They are easily crewed by 3 or 4 people too even if there are hundreds of passengers. Also can have multiple propulsion methods, i.e. propeller and/or hydrojet. For efficiency and/or backup. And on and on and on.
To your other point, VOCM is extremely status quo, some of the people working there scarily so, to the point that they legitimately think they are doing right supporting some big government controlling every aspect of our lives. Just my observation of the opinions they push and things they won't touch or have no time for story-wise and observing what they do report and their tone, etc. It's not always all about getting listeners tuning in, clicks and reads, they are legitimately weird sometimes. Whatever, I'm not getting my point across very well, but those who know are on the right wavelength, and it ain't theirs usually. They can't be *THAT* afraid of losing their license to be on the public airwaves that the people own.
Another way of thinking about catamaran passenger ferries is that if they run at twice the speed (while burning less fuel), they can do twice as many runs using the same capital investment, same amount of pay to crew can get twice the runs, (in fact they seem to be able to be run with smaller crews from all the spec's I read) thereby paying for the capital investment with lower running costs before they even depreciate in value.
There is a fancy word of Greek origin,of being governed by "the worst".
Maybe Ethienne mentioned it months ago here? The USA now governed this way.
The Inquiry is showing this daily, but likely keeping the very worst secret for Leblanc eyes only. So, it seems our justice system too is part of the worst. Judy pulled from her job In Ottawa, by Justin. And now Kate pulled……..by appointment also by the Feds…….are the Feds trying to cover their tracks as enablers of the boondoggle?
PF
You think?
The google machine says the word is "Kakistocracy"
We all hope there is intelligent life out there in space somewhere. We know, based on Muskrat Falls, that there is absolutely none here on earth.
Christ it appears Kate has been replaced by a special needs lawyer Michael Collins if that is not too rude.
Agreed^
The guy is definitely batting out of his league!
In the meantime he has some big shoes to fill!
Co-counsel Collins seemed methodical, precise, tenacious and effective to me.
And isn't it odd that the sound connection to the SNC witness was lost at the very time that co-counsel asked him a critical question?
Agree with MA, as to Collins, and seeming wanting to expose any short coming on technical issues if they existed, but the professionalism, and politeness of SNC was intact.
But this is at odds with the initial part of this inquiry of co-counsel, especially Kate, questioning the Nalcor/Nfld trio,(Straton etc) as to forecasting and planning and alternatives.
No deep dive into their analysis.
PF
Yesterday I asked who is this guy, a Nalcor lawyer or engineer, as I missed the first part.
So, he was getting very technical, more so than Kate ever did, and yet she was an electrical engineer with experience in the power field.
His style made me think he was representing Nalcor, not co-councel for the Inquiry.
The intent seemed to lay blame, if possible, on SNC rather than Nalcor, and suggested bias to me of the Inquiry co-counsel.
The overall result, I suggest is to reconfirm the professionalism of SNC and incompetence of Nalcor.
That this lawyer, Collins, got into nitty gritty: the type of turbines, Francis or Caplin etc, and he not an engineer……goes to show how LITTLE Kate used her "assumed good engineering talents", in prior examination of Nalcor's engineering assumptions(false assumptions), endorsed by MHI etc, to get this project to sanction: especially forecasting and the variety of power supply alternatives for the Isolated Option. That allowed this boondoggle to proceed where it never should have. The horse was out of the gate, so to speak, by the forecasting and power alternatives assumptions.
Reevaluation of Kate's performance is needed, I suggest.
PF
Would have been interesting if Kate had continued as co council and her questioning as compared to MC. Maybe the questioning may have been similar but just a matter of style as compared to MC. At one point I think he took a leap of fate and asked Mr. Lemay if by estimating high it might stop the project, that question was based on vary slim evidence and I failed to follow any logic, seemed coming right out of the blue. Why would Mr. Lemay want to stop the project??? (but hope the hell he had, would have been to all our benefit) He had a personal interest, employment for several years, but not saying that would influence his numbers in any way. The bottom line, think he was relying a lot on his past experience, so can't really blame a guy for that. But it was rather curious especially on MC part says Joe blow. But that's what judges are for to try and figure it all out.b
And now, under Stan's leadership, we see this SNC expert, on this project for 7years, suddenly terminated when he was starting to cooperate with this Inquiry, and no official reason given!
This shows the extent of the depravity of Nalcor. As Liberty has stated……little change in their CULTURE.
PF
It goes to show< Joe, that lawyers can do a deep dive on engineering and estimating,if coached in advance by engineers.
Collins seems to have been coached….by whom?
Kate would need less coaching, expect for some issues of expertise, but did little on deep dives.
So, what was Kate's power system engineering experience? Peng2 seems well informed on CVs…..he can tell us .
PF
AJ @ 12:20:
I don't follow your argument that he (or most nearly all the professional staff working at MF for that matter, granted some might have) had a vested interest in 'keeping it going'. For the most part, these guys working there could go elsewhere if they wanted and the MF rates weren't that great when compared to working overseas etc. JK is an prime example – contract terminated at MF and he picked up working in Houston almost right away – project work is short term (typically 1-3 yr contracts renewed if you are needed), no one vests time/commitment in it like many with a ‘job’ do. Union craft are a bit different – their collective agreements do offer some differing perspective and security.
In reality, the reasoning for the question is obvious to me – any owner will re-judge executing a piece of work when estimated costs 2x the budget. I think MC was raising the question if he had been 'asked to or had been hinted to' keep the cost estimate down. The other thing I thought was interesting was MC was raising the 'inexperience' of our construction workforce – its a reality most here don't want to accept, NL isn't the center of the universe.
PF @ 12:20:
I am not sure why you say KB had Engineering experience – was she an Engineer who went back to law school after practicing or a lawyer who used a engineering degree to satisfy law school admissions? I really don't know her – so maybe someone can clarify.
I do know Learmonth a bit – been at the construction law racket since the 70s, my first run in with him was early 90s and he was seasoned then. I am not sure who asked recently, but there is 3-4 person in NL with double law and Engineering degrees – none practicing both fields I know of.
PENG2
1.My recollection was she had not just an engineering degree, but an electrical engineering degree.
2. That she had worked, so some experience, in the power side of electrical, unlike Gilbert Bennett, the cable guy, no power side experience, but heading up a mega hydro project involving considerable electrical, some mechanical , and much civil…….and we know how that ended up.
So, not sure ofthe source of my impression of Kate's experience, but thought it was a valuable asset at first, but saw little of it put to use in this Inquiry as to any deep dive to Nalcor's false engineering assumptions.
Maybe someone else has knowledge of Kate's engineering experience, if any at all? Maybe she was chosen for her lack of engineering experience?
PF
What impressed me most about Kate's questioning of witnesses, was her quickness to understanding the dynamics of project management. I presume she took the Cost Engineering principles that were taught at MUN with her thorough investigation of the document process, augmented by the communications, (Meetings, emails memos which make up the contract admin function). Remember the key activity for any professional project manager; cost management and project control. The duty to the client is to report early and often where cost and schedule are at variance to the objectives. This in part seems to have been done. It is apparent that at Muskrat, the client had a deaf ear. Kate helped the Inquiry expose how willfully Senior management would not want to deviate from a "build at any cost" mantra.
In case you missed it, like me,…. yesterday was a stakeholders technical conference at the PUB, as to rate mitigation options. Recall technical conferences said engineer Fred Martin, at the Inquiry, was a rare thing for the PUB.
The main stake holders were there, but likely not a single resident using electric heat,…. the silent uninformed stakeholders. Never knew this was happening. So, if you have a desire for a minisplit rebate, or wnat to see electric vehicles infrastructure,or EV rebates, or interested in bringing down our winter peak load, or plastic wrap for your windows, or if concerned for GHG emissions and so want more wind or solar panels, or more island hydro developed, or concern for outages and reliability and more gas turbines……..any chance for input yesterday……..you missed it.
Mitigation plans was hoped to be released before the next provincial election. Now an hour ago, the Tellie says Ball announced we are to go to the polls no later than June 27! So, we will know all the mitigation measures by then?
Ball is to testify at the Inquiry on July 4. He wants another 4 years before his involvement in MFs and Ed Martin 6 million package, and no pause decisions are explored and made public. Is he afraid of the Inquiry negative exposure?
His Tellie photo getting into his car………is that an EV?
The background shows the EMERA INNOVATION Centre…….a result of a 7 million donation given…….., by the way,how much are they guaranteed each each for investment into the Labrador Link? EMERA buying more PR than Fortis here? Interesting week…..much going on.
Winston Adams
Yes Winston, Emera, Meet the new boss, same as the old boss (The Who,Won't Get Fooled Again)
The MUN president was very grateful for the donation, and gave them naming rights to their Signal Hill wasteful campus addition.
MUN, through Wade Locke,did their bit to enable the boondoggle, and Emera ran circles around our gambler, Ed Martin, who did not know when to fold them. So, proper that Emera give back a little to thank Ed and Wade and MUN. But the Innovation Centre…can we market innovation of boondoggles? World class boondoggles are rare. They seem to see some market value in the nasty green crap, so big boondoggles should have market value…..just that there are winners and losers to boondoggles. Strategy is to be on the winning side…….the Inquiry is showing the way.
How is Emera stock doing compared to Fortis?
WA
green crab, ……the ones invading Nfld waters destroying lobster.
WA
Is there any market value in the nasty brown "crap" that emanates from Confederation Building?
WA @ 00:24:
Over the past 20yrs, there isn't much difference in Emera or Fortis in stock investments – comparable in rate of increased value and dividends.
You do say that MUN via WL partially enabled MF – maybe review 14-MC-20120-02-27 as presented to the PUB in February 2012, there was much more anti-MF sentiment from MUN than pro sentiment forming the Telegram editorials at the time.
Very few realize just how much anti-MF there was – most only remember the pro-MF because they probably didn't both to read the 'anti' voice.
PENG2
Anony @ 00:27:
Not really, not even worth the 'free' junk mail they circulate.
At least KH isn't running – now only 6 persons likely to be running provincially that voted for MF in 2011.
PENG2, Yes, Fortis and Emera about double in value over the past decade plus dividends, investors smiling.
Wade headed up the economics dept at MUN, and still does, I guess, so no consequence to his genius, maybe not not making so much on the side, or maybe still is? . Media accepted his views as gospel……one of the world class experts, as was all things Nalcor. How much air time did he get compared to others?
MFs was popular with the public, for many wrong reasons, and a few critics had little change of changing that. Essentially no weight was given to their opinions. For every serious risk put forward by a critic, 5 counter mitigations were put forward by the so called experts……so was the public to believe? Few people are technical to dig and analyse, as you, PENG2. And even with you against the project, how many of the public knew your expertise and analysis, as being a critic?
Now for example: Should "Efficiency NL", independent of the Power companies be part of the current mitigation discussion? Such Efficiency Corps are part of most progressive jurisdictions. Has anyone, of the 3 parties, the 3 power companies, the PUB,the CA or of this blog, endorsed this idea?
Take climate change policy, and serious reduction of GHGs, and ask the same question. MUN benefits from the destructive policy of fossil fuel extraction.
Essentially MUM is mum on these topics, and any critic is drowned out.
I can't say the pro and anti MFs was like the Confederation battle. It was very much one sided.
One engineer replied to me, with a smile, when I suggested MFs was a high risk : "Who cares, we're making lots of money"
This the mentality of too many, and part of our culture, is it not? The average Nflder was not making lots of money from MFs, but also did not see the risk. So I blame those who knew better so should have known better, more than the general pubic.
I cannot offer a solution to that…..except as Heracles said, maybe Nflders need to be hurt badly to smarten up.
So what do do this election? You're advise?
Winston
PENG2, note too Wade's testimony at the Inquiry; he was "open to talking and communicating with anyone with differing opinions" he said.
Presently with Synapse, CDM, cold climate mini splits is a significant input to better use our power and mitigate rates, building on ICF report of 2015, and well adopted in NS since 2008.
In 2012 I tried to get Wade Locke to read and comment on this aspect of future power needs and peak load reduction.
3 times I asked, by email, and finally he said "Did't read your submission",and seemed to me had no intention to. Why …because it did not support his analysis of MF being least cost. Nor did he consider reasonable wind additions etc for the Isolated option. To him, MFs even up to 8 billion was good, was it not?
So MUN via Wade Locke…..yes, to me it tarnishes MUN, especially his head position in economics there, and also doing consulting work on the side for various govn departments ….from Nalcor to moose risk! Wade was making lots of money from the boondoggle loonie idea. Can blame Danny Williams for everything, he had lots of accomplices.
Wade should be long long gone from his position at MUN due to this boondoggle and the part he played, if there was accountability.
In private business, how long would he last being so wrong?
Winston
Should read "Can't blame Danny Williams for everything"
WA
WA:
I don't believe for 1 minute WL didn't read your submission – he read it and he probably figured it made sense, but he was more interested in becoming part of a clique and was willing to be a shill hoping MF would work.
My vote is pretty easy this year – the PC member is one of those 5-6 running that voted for MF (and Bill 29 etc)in 2011.
I never understood politicians trying to claim a great economic benefit from nomadic construction work. Even if MF never went ahead, the skilled tradesman would have found work elsewhere and still would have paid taxes to NL, the only people that benefitted were the borderline employable because they never had the skillset to be in demand outside NL. Last time I checked, your TD1 uses province of residence as to where to pay your income tax (not province of work) – and guys working away don't spend a lot while working anyway. Granted there would have been some supplier spin-off sales for having the work here, but that's all.
The document I listed above has reps from the Facility's of Engineering and Business, and the Depts of Physics, Mathematics, English and Economics and writing pieces that were anti-MF in 2011. I cant explain why WL got the ear of the public – maybe he was willing to echo the typical '…until the cows come home…' rhetoric we in NL love so much?
PENG2
Also if the money spent on MF had been put into much needed infrastructure such as improvement to roads,health care facilities,schools etc. Not to mention CDM and improvements to the existing generation facilities.This would provide many years of employment in NL.
PENG2, do you know approximate what percent of MUN faculty wrote anti-MFs pieces to the Telegram? And % of each dept?
Winston
Of note:
1. MFCCC was denied legal costs for standing at the PUB hearings for Rate Mitigation. And add nothing new says the PUB….but can do a presentation! NS had many EE contractors, as a group, permitted standing. Here we have the CA……so tough, that's it. Here contractors are afraid to, or unable to get together as a group.
2. Heat pump uptake in Nfld, assuming 200,000 residential customers
Year….%…..quantity added
2013….2…. 4000
2014….4…. 4000
2015….6….12000
2016….8….16000
2017….9….18000
2018….14…28000
2018 seems a critical mass for a big gain of 10,000. This is without rebates.Sadly many may not be cold climate models, as Nfld Power fails to inform the customers of the advantage, and can miss much of the savings , and keeps the peak grid load higher than necessary, burning more fuel at Holyrood. A crime, or it should be, unnecessary GHG emissions and costs.
To promote EVs, the grid needs cold climate units to reduce winter peak, so when will Nfld Power come clean? PENG2……time for you to speak up as a Fortis shareholder?
Also Nalcor, if I read it right, a question on elasticity, suggest that if power rates were to go from 15.5 cents to 30.3 cents from 2019 to 2029, peak load would only drop by about 100 MW.
One way to avoid peak loads dropping much is not to use cold climate HPs, so baseboard heaters are forced to kick in. Is this a culture of evil to plan this way? At those rates customers will go oil or wood with mass exodus from electric heat.
Seems Nalcor is wishful thinking.
Winston Adams
Should read quantity of heat pumps, not quantity added, and 2014 would be 8000 not 4000
WA
I think the problem with the cabin owners fee for garbage removal was just that it wasn't removal so much as a "drop off at a central point and we as the one with the contract will try and remove it from there for a $300 per year fee" The waste pick up was creating a bigger waste problem than before whereby most cabin owners just either burnt what garbage they could ( this is the most sensible option-plastics, cardboard and everything else that could be burnt), the recycles were sent to the recycling depot and all other garbage was sent to the dump from their permanent place of residence.
One has to put this in the context of "were we getting a bang for our buck or just subsidizing the overall waste disposal system with the $300 per year fee."
So are you saying that it is fine to burn garbage ,along with plastics which is illegal?Without pickup more garbage will be dumped in the woods.I have seen everything from mattresses to sofas etc.left in the woods.Out of sight out of mind I guess is okay.
Watch Land and Sea; Great program today on how industrious Nova Scotians are recycling "wastes" including human excrement and plastics. The future is bright for those finding jobs in the new economy.
Just asking: if Emera has invested 800 million in the Labrador link, and is to get a guaranteed 8 % return, which suggests a 64 million payout to Emera,in year 1, billed to our power bills, and declines as the 800 million is paid off, am I in the ball park of figures…….then is a one time 7 million gift to MUN generous on their part? It is also a tax deductible expense for Emera.
Winston Adams
Keep your friends close and your enemies closer. No doubt 7-million would quell a few MUN faithful. Let's hope many others there will see beyond this to speak up. We know a few have. More from the Engineering faculty would be appropriate. Any from the Executive ranks would be a miracle of course.
Interesting article by Howard Levitt LLP to Global News concerning the SNC affair.The thing that interested me most was the comparison of what happened in Ottawa to the relation between a CEO and a CFO in the corporate sector.The piece is titled "Ottawa's I'll conceived plan to help the media."
Today marks the 70ieth year of confederation with Cabada!!! Basically 70 good years of prosperity. 70 years of change…some good …some bad …but one could consider it mainly good. On reflection, here are a few things, that some would consider boondoggles: resettlement, the oil refinery at C-B-C, the upper Churchill, the Stephenville liner board mill, the closing of the cod fishery, the spring greenhouse, and the most recent muskrat falls. Of course the oil refinery has proven itself after a very bad rocky start, the liner board mill has closed but it had a few good years. The UC may be inconclusive, but we did not put any provincial money into it. Muskrat remains to be seen, but certainly nothing positive about it to date. But what sets muskrat boondoggle apart from the rest is the stupidly of it's conception and the cost to the provincial treasury. All the others pale in comparison to the actual financial cost to the province and generations to come. So in summary, one could say the two greatest boondoggles are the mismanagement of the fisheries and muskrat falls. Now of course I could list a lot of positives, but just to mention a few, we have become proud Canadians, (Most of us, but especially the younger generations) a higher standard of living, roads and transportation, the oil industry, mining, and the Atlantic accord. I am sure I have missed a few important smaller ones, which others may correct me on. Average Joe, born a Newfoundlander, but was given Canadian citizenship, free of charge.
Happy Confederation Day to you all. Don't forget Rawhide, Don Messer and Foster Hewitt. The wide gauge CNR rails led Westward from Nort Sydney. Widened horizon!
Robert, interesting you mentioned Foster Hewitt. Back in those days, early 50ies, few had TVs so you tuned into hickey by radio. And Foster's intro was, Hello, hockey FANS in Canada., United States, and Newfoundland. And he pronounced Newfoundland exactly the same as we did…lol…understand. Cheers, average Joe. Now of course you watch DonMesser, not listened to it by radio….
https://www.cbc.ca/archives/when-newfoundland-became-canada-s-10th-province-70-years-ago-1.5045846
Joe have a go at the NL Dictionary, of which I have in my collection.
Why would you consider resettlement a boondoggle? Without resettlement these people would be living in isolation. Having a ferry service into every nook and cranny around NL is not only impractical but unaffordable. There would more than likely be no crime but living in isolation has no merit whatsoever.
Wayne, please note, I said some might consider a boondoggle, especially those that were forced to move, and to them it might have been a very personal boondoggle , uprooted by government, remember some of the songs. But I guess like you, I was not a resettler. So agree with what you are saying..cheers, Joe blow.
The MFCCC members are well aware of the Nalcor Board of Directors testimony, and over all incompetence, and who after giving Ed the big reward, all resigned.
At present I review the shareholder proxy of the Bank of Nova Scotia titled: Building for the future.
They state they are one of the largest 25 banks in the world, 25 million customers, and 97,000 employees.
Ethical conduct , they claim is at the centre of what they do.
Governance includes their board ensuring a diversity of skills and experience, and to have innovative solutions going forward,
Their auditing services costs 30 million a year, about the same as this whole Inquiry.
Shareholders they say can have a say on pay, and maybe over rule the Board……I need to explore that further.
As to the Board key skills and experience, top being 64 % includes :financial services, governance and risk management, (as you might expect for a bank). They have 14 directors. One is an engineer.
Directors get paid by a retainer: $225,000 a year. For many these are experienced and sometimes retired people, so a part time job. $145,000 of their retainer must be taken out in BNS shares……so there interests are aligned with the bank's success, especially share value.
They are not permitted to sell short BNS shares.
They are to hold at least $725,000 value in shares after 5 years, some have several million in value.
There are 3 proposals put to the Board by shareholders…..all 3 are recommended to be voted against.
UG readers may know that BNS is perhaps the most international of all the Canadian large banks, with considerable interests in the Carribean, , Mexico, and Central and South America………perhaps from the days of the fish trade to those places? We once had a Nfld BanK?
Nalcor Board……..a $5000 a year position? No engineer. 4 members only and denied technical expertise requests for additional board members?
The saying with computers: garbage in ,garbage out, ….is it the same with Nalcor and other govn Boards? Or just volunteers doing their best, with little compensation?
Winston Adams
ScotiaBank money laundering;
https://www.ft.com/content/aabd236e-e763-3355-a51d-0a0f52689124
Well, somebody knows how to make a buck or two:-)
A BNS manager was murdered in Mexico City around 2001 time frame. It got overshadowed by the attack on the world trade center around the time. It was investigated by either the fifth estate or w5, don't recall which, but the story was about laundering of considerable amounts of US dollar drug money coming out of Mexico.
More on BNS:
Shareholders "say on pay" is only an advisory item, and need not be followed.
Directors can be directors of other companies, up to 4 , but need to avoid conflicts.
4 directors are a committee chair so can get typical another 50,000.00. There is additional 10,000 travel fee.
Directors fees are still small compared to the top dogs who run the bank.
WA
Proposal from shareholder:As Canada in 2016 adopted the United Nations Declaration on the right s of Indigenous Peoples, and the bank in involved in the Dakota Access pipeline, and the Trans Mountain Pipe line, and Energy Transfer Partners, according to a report pipelines leaked on average once every 11 days, (cites other spills and explosions);
therefore requests Scotia bank to revise its human right policies as to Indigenous People …..affected by Scotia ban financing.
Banks position: Human right are fundamental to how they do business, that risks including as to climate change are considered the same as other risks. They have revised and updated their statement on Feb 19, so the proposal is largely implemented , and therefore recommends against this proposal.
Proposal 2 : As whether the chief executive officer and key executives compensation is reasonable and socially acceptable,…to release information least the procedure negatively impact it's reputation.
Banks position: they use vertical and Horizontal (peer) benchmarking. Median family income is 84,900, but employee meidian incomes is less meaningful due to the many countries of operation.
Data on CEO compensation is on page 79, therefore the board recommend against the proposal.
Page 79 shows CEO at 10.8 milion for 2017, 11.2 million for 2018.
Proposal 3 : that the board create a new technology committee related to technological innovations.,,,, noting that ten years ago risk committees did not exist…..yet their added values is now recognised.
Banks position: risk is addressed by yhe board as a whole and a separate committee for technology matters in required and recommends voting against this proposal.
This I find interesting as to the scope of what Nalcor directs need to address at times. What did Nalcor board mmebers know of the complexity of DC HV transmission, or quick clay, or minisplit risk to power sales?
WA
Proposal 3 : should read separate committee not required.
Another proposal: Millennials are more sensitive to climate change disclosures than th epost -war gneration …so to their investment decision making,
Banks position: Feb 2019 the bank includes metrics and targets as to climate chnage related risks. …a key pillar of of social responsibility risk….to ensure the risks are considered and mitigated. In 2018 assessing climate change risk as to all accounts, disclosure as to greenhouse gas emissions.
Of interest, there is a planned boycott against Barkley's Bank of the UK, who currently has financed about 85 billion in the fossil fuel industry, including coal development, as banking is seen as a threat to the environment.
WA
Anyone want to read my essay on Newfoundland settlement and absndonment?
Drop me a request at
tor@mobilewords.ca
Also mobilewords.pro has a number of early modern settlement works free to read and download
Figures stated above, discloses on the PUB site of now doing 10.000 heat pumps per year , suggest to me 25 MW reductionin peak load per year. At this rate a 250 MW drop in the next 10 years. If rates rise the 10,000 per year may accelerate, for further decline in power sales and peak load.
Remember Ed Martin: Nflders not interested in conservation.
Another official " Can't depend on CDM ….asking for blackouts to consider CDM."
Data show Nflers are 4 times more interested in heat savings on power bills than people from Ireland( maybe because we need more heat.
Winston
In Poland, a comedian takes the lead in elections there, as people is tired of the corrupt political elite, that most distrust.
Here almost 60% undecided here?
Would not Rick Mercer or other be better than any of the present?
PF
Brian Peckford is upset that China's coal consumption is up 1 % , the first increase in 4 years. Not good for sure.
But Nfld wants to increase oil production by 100% !
Whether coal , oil or gas, GHG is the problem, and per person, Canada produces almost 3 times more GHGs than China.
So does Peckford think he is entitled to a bigger carbon footprint than the average person from China?
Peckford is just noting this information for climate change alarmists, so for those who are not alarmed, 1 % increase for coal does not matter, nor 10 nor 50%, does it? Nor if the Saudi, Russia or USA or Nfld ups oil and gas production and consumption. Why worry , be happy, as Peckford is.
The Atlantic Accord is more important than Confederation, says Brain, enough oil to pay off Muskrat, and then we can do Gull, with oil revenue too.
Winston