Friday, March 19, 2010

 

BC Rail: more dirty tricks

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E.M has left a new comment on your post "BC Rail: Over 32,000 northerners signed a petition...":

The Government as we know are doing some clean-up since it was disclosed what The CEO of BC Rail and others are getting for salaries. See what will happen on April 1st, 2010 ---------------

In February Minister of Transportation Shirley Bond 2010/11 – 2012/13 Service Plan


Microsoft Word - TRAN_Service Plan 2010.11-2012.13_draft_16.docx - 24 Feb 2010

• BC Transportation Financing Authority – The BC Transportation Financing Authority is a provincial Crown corporation operating under the Transportation Act. It owns provincial highways and provides for their rehabilitation and expansion through dedicated fuel taxes and other revenues.
The Authority can also acquire, hold, construct, or improve other transportation infrastructure throughout B.C.

• British Columbia Railway Company (BCRC) – On April 1, 2010, the shares of the British Columbia Railway Company will be transferred to the BC Transportation Financing Authority (BCTFA), resulting in the BCRC becoming a wholly-owned subsidiary of the BCTFA. Continuing as its own
entity,

BCRC will retain its legal and legislative authorities and agreements.

BCRC core operations will be managed by the Ministry of Transportation and Infrastructure. BCRC core functions include:

• management of the Revitalization Agreement between BCRC and CN Rail;

• ownership and operation of the 40 km Port Subdivision rail line;

• control of key land assets, including land ownership and lease arrangements with Vancouver Wharves and Squamish Terminals;

• land, permitting and environmental management of over 2,300 km of rail line;

• sale of surplus property not required for railway or Pacific Gateway purposes; and

• investment in rail, land and other infrastructure that supports Pacific Gateway capacity expansion.

The transition of BCRC management and operations to the Ministry will result in lower administrative and overhead costs and will provide closer integration with Pacific Gateway and other strategic initiatives. More information can be found at www.bcrproperties.com/bcr1/.

http://www.th.gov.bc.ca/publications/ministry_reporting/Service_Plans/2010-11-2012-13_SP.pdf

AND see below how much revenue goes up for 2010/11 year

BC Transportation Financing Authority Statement of Earnings

Other revenue3

2009/10  43,799
2010/11  80,238
2011/12 125,983
2012/13 128,661

NOTE
3 Other revenue includes interest income, grants from the Province, property sales, rentals and economic development
revenues, and earnings from the equity investment in the British Columbia Railway Company
--------------------------------------------------

Now this curious to me [this is E.M. speaking next] ... if BC Rail is now just being transferred to the BC Transportation Financing Authority, why back in 2004 revenue statement it shows that it Received Transfer payment of 750 million

Note BC Transportation Financing Authority — Income Statement 2004/05
Transfer payments3 750,000
note3


3 Transfer payments from BC Rail proceeds 750,000($200 million) and the Consolidated Revenue Fund ($550 million). This is listed under BC Transportation Financing Authority

0 dollars listed for transfer payments 05-06 06-07 07- 08

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E.M., many thanks for sending us this information. Can you clarify a little bit around the end of the notes ... after Income Statement 2004/2005?  
- BC Mary. 

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 And E.M. kindly replied: 
 
Sorry Mary, here is the link that shows The Minister of Transportation and Infrastructure Service plan 2004-5

http://www.bcbudget.gov.bc.ca/2005_sept_update/sp/trans/ResourceSummary3.htm

You will see financials for the Ministry of Transporation and seperate statement for the BC Transportation Financing Authority —

It shows a transfer payment of 750 million for year 2004-5, it has #3 beside it, then below it shows comments for where the funds came from, # 3 says that "3 Transfer payments from BC Rail proceeds ($200 million) and the Consolidated Revenue Fund ($550 million).

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Thanks again, E.M.  Much appreciated.  - BC Mary.


Comments:
Sorry Mary, here is the link that shows The Minister of Transportation and Infrastructure Service plan 2004-5
http://www.bcbudget.gov.bc.ca/2005_sept_update/sp/trans/ResourceSummary3.htm

You will see financials for the Ministry of Transporation and seperate statement for the BC Transportation Financing Authority —

It shows a transfer payment of 750 million for year 2004-5,it has #3 beside it, then below it shows comments for where the funds came from, # 3 says that "3 Transfer payments from BC Rail proceeds ($200 million) and the Consolidated Revenue Fund ($550 million).
---
 
Here's a great article about the media not reporting on the corruption in the Attorney-General's office and in the court/legal system in BC.

Power and its “way of doing things”
by Rob Wipond
in the April 2010 issue of Focus Magazine

http://www.focusonline.ca/index.php

You download the magazine; article is on p. 42.

ps Mary, great idea to re-acquaint the public with what occurred at the start of this scandal, in preparation for the so-called trial upcoming.
 
" control of key land assets, including land ownership and lease arrangements with Vancouver Wharves and Squamish Terminals;

• land, permitting and environmental management of over 2,300 km of rail line;

sale of surplus property not required for railway or Pacific Gateway purposes;
"

The "core functions" above pretty well sum up the original purpose of the BC Rail Scam. I'm sure "friends" of government will be offered the kind of deals (think of the "fair" bidding for BC Rail) they can't refuse, while the public interest takes another kick to the gut. I would be shocked if the beneficiaries of Gordo's largesse will be expected to deal with (read pay for) any mitigation of pollution/contamination on any parcels - indeed, maybe we will even pay them to take waterfront or prime commercial property from us, using that as an excuse for yet another robbery of the public purse.

These "friends," or their heirs could even benefit again down the road, when railways return to an economically and environmentally superior method of moving people and goods. Perhaps some future government will have to buy back assets that Gordo handed his buds as a gift.

Socialism for the Rich and Survival of the Fittest for the rest!
 
Ask gordo where the oversized cheque is? The one that sats one billion dollars for the sale of BC Rail.
 
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