Thursday, January 15, 2009

Olympic Village Boondoggle: Whose Uanimous Now? (Part Deux)


This time it's a memo instead of minutes.

And that memo was, apparently, written by former City of Vancouver CFO Estelle Lo and sent to former City Manager (and June 2007 game-changing quarterback) Judy Rogers outlining numerous concerns about the Olympic Village Project's financing.

The date?

Oct 2008.....

And how long had Ms. Lo been concerned?


Once again, 'The Receiver-In-Chief", Gary Mason, has the story in the Globe. Here's his lede:

VANCOUVER (G&M Jan15/09) -- The financial viability of the developer of the Olympic athletes village, the future of the city's credit rating, the increased risk to taxpayers and soaring construction costs were among the many concerns the city's former chief financial officer had months ago about the project, The Globe and Mail has learned.

In an extraordinary memo Estelle Lo sent to then-city-manager Judy Rogers in October, 2008, the since-departed CFO outlined a string of worries she had about the project - many of which have since been validated.

A couple of weeks after sending the memo, Ms. Lo was approached by Ms. Rogers and given an ultimatum: resign or be fired. Ms. Lo would resign with a one-year severance package, and Ms. Rogers would be removed on Dec. 12, 2008, by newly elected Mayor Gregor Robertson.....

Again, Ms. Lo was not present at the Oct 2008 at the 'In Camera' council meeting where folks apparently voted 'unanimously' to approve the initial $100 million dollar bailout.

If you read nothing else today, read the rest of the Mace-Man's column.

And for those of you that dislike Propammon, feel free to ask yourself, once again, what is it, exactly, that the Spamaloteers are flinging?
Update: Well whaddy'a know.....It's looks like the Spamaloteer's are now pinning their hopes on their old arch-nemesis, the bicycle rider.


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