Thursday, December 01, 2011

But...When All The Reporters Are Gone, Who Will Do The Real Reporting?


How about folks like Norm Farrell?

After all, Norm is a citizen journalist who is covering stories that actually matter right here and right now that no proMedia organ grinder monkeys, ink-stained or otherwise, seem to give a hoot-in-heckfire about.

Stories like this:

....In 2008, the company (i.e. BC Ferries) announced plans to move into 90,000 square feet of a building at 800 Yates Street then under construction by Jawl Properties. B.C. Ferries sold its long time head office building, 53,000 sq.ft. at 1112 Fort Street, to the Jawls for $11 million.

According to Note 12 on the BCF 2011 Audited Financials, the lease of new offices in downtown Victoria is for fifteen years, with four renewal options of five years each. The lease agreement includes payment of building operating costs and property taxes but other terms are undisclosed.

In addition to signing a long term lease before completion, BC Ferries lent the Jawls, developers of the $100 million property, $24.2 for fifteen years, secured by a second mortgage of the property.

What does BC Ferries get out of this? Certainly, it gets substantially more luxurious executive offices, almost twice the size of those in the old building. They also earn enduring gratitude of the influential Jawl family, people who style themselves as the largest private owners of premium offices and industrial space in the capital. Their properties include Cordova Bay Golf Course, Mattick’s Farm, Sayward Hill and Selkirk Waterfront. They are, of course, substantial contributors to the BC Liberal Party....

Recall, again, that all of this big spending has happened SINCE the 2008 recession hit.


And the added bonus of Norm's post?....The excerpt above comes AFTER a very nice, straightforward and irrefutable graph of falling oil prices over the last six months that lays waste to the lie that the just-invoked BC Ferries fuel surcharge has anything to do with the actual changing price of fuel...Of course, it may have something to do with the overall cost of fuel over the longterm, but the fact that the 'surcharge' comes now strongly suggests that the fine folks running BC Ferries (into the ground?) have decided they would rather soak the peons who live here and pay for everything (i.e. those that will be going home for Christmas) rather than the summer tourists...



cfvua said...

Hey RossK.
I couldn't agree more with you regarding the amazing Norm Farrell. What excellent research he does. His work goes unchallenged as it speaks for itself.
As northern resident business we saw our diesel fuel price go up to over $1.60 per litre. So we added a surcharge as our mainly Alberta based competitors were paying about $1.05. Bc residents are being told that refinery problems and a hydrogen plant breakdown is the cause. Fuel shortage with rationing and cardlocks empty most of the time. Meanwhile our company buys a truckload of fuel from Whitehorse YT of all places. They have lots of fuel which makes it's way there from the Port Moody refinery of all places delivered for a dime less to our tank. So it would appear that the "shortage" is a fabricated one. Seems like the fuel market is open to manipulation by some of the same folks that would take advantage of gigantic subsidies for drilling and a whole list of other royalty credits.

RossK said...

Very interesting cfvua, thanks--

What is the 'surcharge' you mentioned?