Wednesday, April 15, 2015

Mr. Khosrowshahi's Wesbild 'Fully Stands By The Integrity' Of Its Burke Mountain Transaction With The Clark Government.


How do I know this?

Because Wesbild has released a statement to that effect:

Posted Apr 15, 2015

In March 2014, Wesbild purchased 370 acres of land in the Burke Mountain area of Coquitlam via a competitive and public tender process administered by Colliers International on behalf of the Province of British Columbia. Our firm submitted a bid for 14 of the 21 parcels that were on offer, and we were the successful bidder for these lands. We paid fair market value and fully stand by the integrity of this transaction.

Wesbild has also participated in other provincial land sale competitions in British Columbia with unsuccessful bids.

Fair market value on all 14 parcels that the very fine Wesbild bid on?


Does that mean that Wesbild knows what all the other bids were?

And, more to the point, I suppose, is a question we have for the fine Clarklandian minister responsible, the good Mr. Virk.

Which is...

We're there any other bidders on each of those 14 parcels?

And we very much thank the fine folks from Wesbild for letting us know that they have had unsuccessful provincial land sale bids in the past, although it would have been most helpful if they had let us know if they have lost any such bids since, say, May 14th, 2013?
Tip O' the Toque to Cassidy Olivier on the Twittmachine for the heads-up.



Anonymous said...

Did WestBild pay the Property Acquisition tax for Burke?

Underreported ,or not at all,?
8.2 million dollars more when BC paid to unlock land agreement? ,a few months ago,on page A1,so 8.2 million dollars plus 43 million undermarket is 51.2 million loss to BC citizens.?

See Tri-City News October 8th 2014 page A1

At what point does it potentially become a breach of public trust and ,or fudiciary duty or worse graft and corruption cronyism kleptocracy

cfvua said...

Hello. With Harper dumping the GM shares to special banking interests and now this, public assets look to be for party consumption only. Canadians can't afford a lot of this and need to react at election time. The said land auction seems to have been run by the ICBC auction people who, in the past were able to ensure the correct bidders won. That $40 odd Million missing from public coffers will be made up on the backs of working folks, not those standing in the right place with a party donation to be sure.

chuckstraight said...

I wonder if the donation to the BC Liberal Party had any effect on the low price.

Anonymous said...

public servants or public profiteers?

Anonymous said...

Makes one wonder how many insiders are on Mr. Khosrowshahi's payroll.

Anonymous said...

North Van's Grumps said...

With Metro Vancouver's properties going sky high with asking prices sent to the circular filing 'cabinet' to be replaced with outlandish higher offers that are impossible to be met by the locals, it boggle the mind that Burke Mountain offers went in the other direction. Was the initial asking price by the BC Liberal government deflated in the first place and 'peaked' $43 million lower than the market price would have garnered over nine months but the need to balance the budget was just right, with an infusion of cash just the right amount?

According to the Canada Competition Bureau:

Under section 47, it is a criminal offence for two or more bidders, in response to a call or request for bids or tenders, to agree that one party will refrain from bidding, withdraw a submitted bid, or to agree among themselves on bids submitted, without informing the person calling for the bids of this agreement. Penalties for bid-rigging include a fine in the discretion of the court and/or a prison sentence of up to 14 years.


A cartel is a formal or informal group of otherwise independent businesses whose concerted goal is to lessen or prevent competition among its participants. Typically, cartel members enter into an agreement or arrangement to engage in one or more anti-competitive activities, such as to fix prices, allocate markets or customers, limit production or supply, or rig bids.

A conspiracy can be international, national or regional in scope, with various degrees of formality and secrecy. For example, a cartel can consist of a loose oral arrangement entered into by a group of local business people during a dinner conversation. Alternatively, the collusion might take the form of a highly structured set of membership rules established by a trade association and administered through an elaborate monitoring and enforcement regime.