Thursday, April 02, 2009

 

Tieleman: There was no "auction" for BC Rail ...

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Defence alleges BC Rail executive "change of control" and retention bonuses show deal underway in 2002 – well before sale announced



Basi-Virk defence fires another bombshell: alleges BC Rail executives had "change of control" bonuses in contracts in 2002 - before BC Rail even put up for sale by BC Liberal government - alleges deal in works long before Core Review process - and there was no "auction" for Crown-owned railway company ...


Read Bill Tieleman's April 2, 2009 report HERE.

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Comments:
City of Prince George Minutes of February 2, 2004 page 30 of 243.

This page is a "CN Fact Sheet" "A partnership creating lasting values for B.C. Significantly improves BC Rail services" SNIP

On page 31 of 234 the heading is "Fair value for British Columbians" with the second bullet being: "CN's operation of BC Rail will generate new tax streams for municipalities along the BC Rail network and for the B.C. government, including approximately $7 million in new property taxes for cities and towns."

And yet...

and yet..

On November 25, 2003 Premier Gordon Campbell stated:

"..........For the first time ever, communities up and down the rail corridor will receive direct municipal tax revenues instead of grants in lieu. That means an additional $8.3 million a year for communities, more than four and a half times current levels of our grants in lieu. Again, if you look at this over the 90-year term, that's about $750 million over the potential term of this lease.

It could be said that the difference between what the Premier promised and that of CN's Fact sheet is $1.3 million, HOWEVER, the Gordon Campbell said:

an additional $8.3 million a year which means to me that whatever the municipalities were receiving the via Grants in lieu of taxes was going to hop, skip and jump to include another $8.3 million and not what the CN Fact sheets says will only be $7 million.

Left hand, Right hand, who's doing the writing...... AHHHHHHHH!! Patrick Kinsella, perhaps.
 
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