tag:blogger.com,1999:blog-7229885.post3858831421639518537..comments2024-03-27T01:58:22.445-07:00Comments on The Gazetteer: How Legitimate, Exactly, Is The RailGate Tax Credit Default Swap?RossKhttp://www.blogger.com/profile/07677239332112652522noreply@blogger.comBlogger14125tag:blogger.com,1999:blog-7229885.post-6775412245122989362010-06-22T20:55:10.115-07:002010-06-22T20:55:10.115-07:00http://docs.google.com/viewer?a=v&q=cache:7zvo...http://docs.google.com/viewer?a=v&q=cache:7zvoHc9L8wQJ:bcrco.com/2004fia.pdf+did+cibc+world+markets+supply+cn+rail+with+a+billion+dollars+to+purchase+bc+rail&hl=en&pid=bl&srcid=ADGEESgQcXTGIxz9OabiN-4Ubix8icaVynM4JdZL6ghtKmmElGKQqK54-Z_1HoBWELA7D5Do1zEEXI-wdWUQNUNQRwRq5e6aEfPnhLyIIVIYUalKTpkLM8D1o5LwjkjlJB8GBnhL0HDp&sig=AHIEtbSZMOwGiCyaCXD5QEwiBBM6RHgNfA<br /><br />It seems the longer the link line the greater the importance of hiding the facts from the public.<br /><br />The link above is to the BC Rail Company financial statements for December 31, 2004 <br /><br />The indemnity is for $366 million. Did it actually go up by $111 million from March to December?North Van's Grumpshttps://www.blogger.com/profile/17571810726275726952noreply@blogger.comtag:blogger.com,1999:blog-7229885.post-53980338386673351132010-06-10T17:36:56.582-07:002010-06-10T17:36:56.582-07:00"In my mind it's the Hutchinson way....
..."In my mind it's the Hutchinson way....<br /><br />Gonna have to look into that discrepancy."<br /><br />You should have gone with Mark Hume's version, I emailed him and got a reply.North Van's Grumpshttps://www.blogger.com/profile/17571810726275726952noreply@blogger.comtag:blogger.com,1999:blog-7229885.post-85885513276683150142010-06-08T20:39:37.728-07:002010-06-08T20:39:37.728-07:00Rolling stock bc rail ..... is a good item to sear...Rolling stock bc rail ..... is a good item to search on.<br /><br />I came up with this report, Higher Speed Passenger Rail, Vancouver to Whistler, dated November, complete with times required to make it a feasible investment, again, complete with a tunnel between downtown Vancouver and the north shore......<br /><br />Source: http://www.th.gov.bc.ca/publications/reports_and_studies/Sea-to-Sky_Reports/High-Speed_Passenger_Rail.pdf<br /><br />Who did the study for the newly minted BC Liberal Government? Something called CANAC Railway Services.<br /><br />Who owns (owned) CANAC Railway Services you might ask: CN Rail.<br /><br />"CANAC was founded as the international railway consulting arm of Canadian National Railway Company (CNR), and is currently a wholly owned subsidiary of SAVAGE Companies."<br /><br />Source: http://www.canac.com/index.php?page=about_us<br /><br />***********************************<br /><br />"CN sells CANAC Inc. subsidiary to Savage Companies; CN retains ownership of BELTPACK technology<br /><br />(Canadian National issued the following news release on April 27.)<br /><br />MONTREAL -- CN announced today the sale of 100 per cent of the stock of its St. Laurent, Que.-based CANAC Inc. subsidiary to Savage Companies of Salt Lake City, Utah. <b>The transaction, which is expected to close by April 30, 2004</b>, will include CANAC's industrial rail operations in Canada and the United States, its planning and infrastructure engineering services, as well as railway training and international services."<br /><br />Source: http://www.ble-t.org/pr/news/headline.asp?id=10236<br /><br /><br />Again, just to make it clear here, the BC Liberal government hires CN Rail to do a study on the BC Rail line...... on how to make it more profitable.... AND THE WINNING BIDDER IS cn rail.North Van's Grumpshttps://www.blogger.com/profile/17571810726275726952noreply@blogger.comtag:blogger.com,1999:blog-7229885.post-43812237488135759782010-06-08T17:41:35.571-07:002010-06-08T17:41:35.571-07:00I'd like to know which way the jurors heard it...I'd like to know which way the jurors heard it, seeing as how they are all British Columbians who were told that the BC Rail was not sold, but leased.North Van's Grumpshttps://www.blogger.com/profile/17571810726275726952noreply@blogger.comtag:blogger.com,1999:blog-7229885.post-48144868441717418292010-06-08T17:11:02.739-07:002010-06-08T17:11:02.739-07:00NVG--
Oh Boy....
In my mind it's the Hutchin...NVG--<br /><br />Oh Boy....<br /><br />In my mind it's the Hutchinson way....<br /><br />Gonna have to look into that discrepancy.<br /><br />.RossKhttps://www.blogger.com/profile/07677239332112652522noreply@blogger.comtag:blogger.com,1999:blog-7229885.post-24215375591999619172010-06-08T16:25:26.486-07:002010-06-08T16:25:26.486-07:00Put two, more than two, reporters in a courtroom, ...Put two, more than two, reporters in a courtroom, and at least two reporters have two different stories on whether or not the Rolling Stock was leased or Sold.<br /><br />Gary E brought about this response from RossK:<br /><br />"How the heck did you know?<br /><br />Because rolling stock was on my list for next weekend!" - RossK<br /><br />````````````````````````````````````<br /><br />Next week will be Rolling Stock??????<br /><br /><br /><br />Can't we talk about it now?<br /><br />"<b>the rolling stock had been leased</b>, the rail bed right-of-way retained and the government has the option to buy it back, at fair market price, when the contract expires."<br /> - Martyn Brown which came from Mark Hume's Column Globe and Mail<br /><br />In context of what Martyn Brown stated in Court:<br />"......And Mr. Brown disputed that the railway had in fact been sold – it went to CN Rail for $1-billion in 2003 – saying <b>the rolling stock had been leased</b>, the rail bed right-of-way retained and the government has the option to buy it back, at fair market price, when the contract expires."<br /><br />Source: http://www.theglobeandmail.com/news/national/british-columbia/premiers-chief-of-staff-denies-province-set-up-bc-rail-to-fail/article1575126/<br /><br />Can anyone confirm that Mr. Brown said this in court or is it just in Mark Hume's writings of what transpired in Court room #54?<br /><br />The National Post has a different story, same moment in history:<br /><br />"<b>The only assets that were sold were B.C. Rail’s rolling stock</b>, he added. He agreed, however, that in the public’s mind, B.C. Rail had effectively been sold." <br />- Brian Hutchinson, National Post · Wednesday, May 19, 2010<br /><br />Source:http://www.nationalpost.com/story.html?id=3049127North Van's Grumpshttps://www.blogger.com/profile/17571810726275726952noreply@blogger.comtag:blogger.com,1999:blog-7229885.post-69397854163722118622010-06-06T11:31:41.488-07:002010-06-06T11:31:41.488-07:00Norman--
Unless I am mistaken, those documents, l...Norman--<br /><br />Unless I am mistaken, those documents, like so much else regarding the nitty-gritty of this 'deal' to sell-off a public railway, are NOT available to the public.<br /><br />In this case, I believe the argument to keep things secret had (and still has???) something to do with 'solicitor-client privilege' which in the case of the BC Rail deal has often been trotted out in an effort to protect, bizarrely in my view, <a href="http://pacificgazette.blogspot.com/2009/03/railgate-8000there-is-no-blogger-banker.html" rel="nofollow">bankers!</a><br /><br />.RossKhttps://www.blogger.com/profile/07677239332112652522noreply@blogger.comtag:blogger.com,1999:blog-7229885.post-50502573697977192822010-06-06T11:16:32.003-07:002010-06-06T11:16:32.003-07:00Since the contingent liability has grown substanti...Since the contingent liability has grown substantially (now near double), we can assume that CN has not cashed in the tax advantages they bought. It may be safe to assume the contingent liability moves toward becoming tangible.<br /><br />Are original documents available so that we can determine the terms of the deal? When might we have to pay the $600 million to CN? do they plan to let it ride, collecting interest, until a new government comes to town? What a great welcoming present for Ms. James.Norm Farrellhttps://www.blogger.com/profile/06762889793990336381noreply@blogger.comtag:blogger.com,1999:blog-7229885.post-62321736598959843412010-06-06T11:14:08.346-07:002010-06-06T11:14:08.346-07:00NVG and Ian--
First, those in the know don't ...NVG and Ian--<br /><br />First, those in the know don't call Mr. Coleman <a href="http://webcache.googleusercontent.com/search?q=cache:Q4W9IrXOQuIJ:thetyee.ca/Opinion/2010/05/18/CampbellShoes/+darth+vader+rich+coleman&cd=3&hl=en&ct=clnk&gl=ca&client=firefox-a" rel="nofollow">Darth Vader</a> for nothing...<br /><br />However, I'd missed/forgotten* the bit about the early briefing for Mr. Brown.<br /><br />Thanks for that!<br /><br />_____<br />*I say 'forgotten' because I've gone back and re-read those old B.Mclintock/Tyee pieces many, many times....They really are excellent, especially compared to anything that can be found in the CorpMediaCache from that time (although to be fair there were still a heck of a lot of subscription wailing walls up at time)....Regardless, what's really, really great about McLintock's stuff now is the fact that it pre-dates the pre-trial hearings, which means they are wide open for discussion.<br /><br />You can find her stuff on the Ledge Raids, and one super interesting tangent, archived, <a href="http://www.google.ca/custom?q=barbara+mclintock+raid&domains=thetyee.ca&sitesearch=thetyee.ca&client=pub-2188005021510640&forid=1&ie=UTF-8&oe=UTF-8&hl=en&cof=GALT%3A%23008000%3BGL%3A1%3BDIV%3A%23336699%3BVLC%3A663399%3BAH%3Acenter%3BBGC%3AFFFFFF%3BLBGC%3AFFFFFF%3BALC%3A0000FF%3BLC%3A0000FF%3BT%3A000000%3BGFNT%3A0000FF%3BGIMP%3A0000FF%3BFORID%3A1%3B&sa.x=16&sa.y=5&sa=Go" rel="nofollow">here.</a><br /><br />.RossKhttps://www.blogger.com/profile/07677239332112652522noreply@blogger.comtag:blogger.com,1999:blog-7229885.post-83221969908551258692010-06-06T10:40:34.694-07:002010-06-06T10:40:34.694-07:00GaryE--
How the heck did you know?
Because rolli...GaryE--<br /><br />How the heck did you know?<br /><br />Because rolling stock was on my list for next weekend!<br /><br />(assuming, of course, that we will still have lots to talk about DURING the week)<br /><br />However....<br /><br />I know for a fact that you have a way better handle on the thing, right up-front.<br /><br />Thus, I'd be very, very happy if you were to write the story and post it at your place.<br /><br />....Then I'll link to it like a madman (and that's a promise!).<br /><br />OK?<br /><br />.RossKhttps://www.blogger.com/profile/07677239332112652522noreply@blogger.comtag:blogger.com,1999:blog-7229885.post-52526625199640143842010-06-06T10:07:50.431-07:002010-06-06T10:07:50.431-07:00RossK,
Ah, Coleman. As Solicitor General he was b...RossK,<br />Ah, Coleman. As Solicitor General he was briefed on the investigation prior to the raid. He, not the AG,flew to Kamloops and briefed Richmond. <br /><br />But more importantly what were his opportunities to influence the track of the investigation? For example was he aware of the RCMP sting attempt at the Lupo meeting between Collins and Omnitrax in early Dec. 2003? Did he have any opportunity to convey concerns in particular directions? How loose could he have played? Inquiring minds need to know.Ianhttps://www.blogger.com/profile/12011801827524524664noreply@blogger.comtag:blogger.com,1999:blog-7229885.post-41721918278854370422010-06-06T10:07:38.522-07:002010-06-06T10:07:38.522-07:00RossK,
Ah, Coleman. As Solicitor General he was b...RossK,<br />Ah, Coleman. As Solicitor General he was briefed on the investigation prior to the raid. He, not the AG,flew to Kamloops and briefed Richmond. <br /><br />But more importantly what were his opportunities to influence the track of the investigation? For example was he aware of the RCMP sting attempt at the Lupo meeting between Collins and Omnitrax in early Dec. 2003? Did he have any opportunity to convey concerns in particular directions? How loose could he have played? Inquiring minds need to know.Ianhttps://www.blogger.com/profile/12011801827524524664noreply@blogger.comtag:blogger.com,1999:blog-7229885.post-11648950785623398552010-06-06T08:42:06.092-07:002010-06-06T08:42:06.092-07:00Martyn Brown has been on the stand and from the li...Martyn Brown has been on the stand and from the lips of Gordon Muir Campbell, in a Scrum, [second paragraph] from January 2004:<br /><br />"Premier Scrambles to 'Restore Trust'<br /><br />"Gordon Campbell's dance with the media yesterday at one point defied credulity, and left all the big questions unanswered.<br /><br />By Barbara McLintock, 8 Jan 2004, TheTyee.ca" <br /><br />Snip<br />".....Coleman (Solicitor General) told him (Gordon Campbell) of the specific search warrants involving the legislative buildings only on the Sunday morning as the police were removing boxes of documents and computer hard drives from the offices of Basi and Virk.<br /><br />However, <b>Campbell said</b>, Coleman had also <b>given Brown</b> some type of briefing on the issue, <b>even though Brown is not an elected official</b> and was in fact, Basi's and Virk's boss in government, as much <b>or more</b> as their individual ministers."<br /><br />Source: http://thetyee.ca/News/2004/01/08/Premier_Scrambles_to_Restore_Trust/<br /><br /><br /><br /><br />And then another article:<br /><br /><b>Raid Warrants Crack Pandora's Box</b><br /><br />Speculation is now fact, portending persistent trouble for the B.C. Rail deal, Finance Minister Collins and the Liberals.<br /><br />By Barbara McLintock, 2 Mar 2004, TheTyee.ca <br /><br /><br />Snip "Those hints are strong enough Finance Minister Gary Collins, for one, must surely be hoping he'll be somewhere far from the B.C. legislature when the Pandora's Box is finally opened.The carefully edited document made public by Special Prosecutor Bill Berardino did not tell British Columbians who have followed the case carefully much that they did not already know. <b>What it did do, however, was to lend official credibility to what has previously been a measured series of leaks, rumours and speculation.</b> The rumours have swirled around the legislature and various media outlets since the search warrants were executed by a combined team of RCMP and Victoria City Police officers on Dec. 28 .The official confirmation means that government officials can no longer defend their actions - or their lack of actions - on the grounds that it would be unreasonable to act solely on the basis of "speculation." Although there are many areas still wide open for speculation, on many of the key issues that door has now been firmly shut" Snip<br /><br /><br />The whole of this article is well worth reading for it comes from a source that no longer participates in the speculation of the past six years, that is thoughts being tainted by revelations, "bombshells", of pre-trial disclosures made the the Defense lawyers.<br /><br />Source: http://thetyee.ca/News/2004/03/02/Raid_Warrants_Crack_Pandoras_Box/<br /><br /><br />Is Coleman the key to the BC Rail trial, and is this why he has been languishing in the Housing Portfolio for so many dark years as we approach the trial on the Raid of the Legislature?North Van's Grumpshttps://www.blogger.com/profile/17571810726275726952noreply@blogger.comtag:blogger.com,1999:blog-7229885.post-36272187034454804212010-06-06T07:04:27.451-07:002010-06-06T07:04:27.451-07:00Let's not forget the disposition of the Rollin...Let's not forget the disposition of the Rolling Stock.<br />And part of that, the fact that a company lost it's contract because it argued that cars could be repaired when CN ordered them destroyed. Lots of things here that make the fact that we "paid" CN more than $235 Million to take the railwayGary Ehttps://www.blogger.com/profile/10640964040603349900noreply@blogger.com