Economy'sFaultVille
Andrew MacLeod at The Tyee has the story of yet another attempt by Mr. Hahn's spinmeisters to hide behind a Friday document dump:
British Columbia Ferry Services Inc. lost $14.6 million in the three months that ended Dec. 31, almost twice as much money as the company lost in the same period a year earlier.
The company's net earnings fell from $67.7 million to $47.5 million. Revenue increased for the company by $12.9 million, but not as fast as expenses, which grew by $19.7 million.
Ferry vehicle traffic dropped by 5.1 percent in the nine month period, a late Friday afternoon company press release said. It blamed the drop on "deteriorating economic conditions and volatile fuel prices."
Hmmmmm.....
By December they knew their ridership numbers were plummeting.
And when, exactly, did His Gordness bail out Mr. Hahn when he paid for that 'temporary' fare reduction again?
Was it....
December?
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Of course, another factor in the negative numbers is very likely debt servicing....Which begs the question, just how much extra did it cost to have those fine folks in Germany build those vibrating gas guzzlers instead of no-good, terrible, awful union workers right here in British Columbia?
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