Thursday, February 9, 2012

McFADYEN WILL SELL HYDRO! REMEMBER MTS AND FILMON!?!?! But we'll appoint Fraser to the board!

There's a new sheriff in town. That is....a new Board Chair for Manitoba Hydro. Fraser. Bill Fraser.

Some sparklin', shinin' press release that is from the "newspaper of rec'rd" I think they's calls it. Some record! They like to give those ones t'Staff Writer. You know, so they don't ask no questions. Don't even mention Bill's previous occupation! Don't even say anythin' 'bout the guy. Jus' that he's the new Board Chair.

Lucky a young'un like me can do a cache search on The Google. Can yous believe how hard it is for me to find a job?! I was but 9 years old when this fella here Fraser became the C-E-O of a big govm'nt thing called MTS. Here's what The Google turned up:

Bill Fraser, who took over the top job in 1995, protested to Manitoba Business (October 1995) that "... We're not a dying industry; we're a growth industry." But it was difficult to turn the company around. Fraser hoped to cut down the enormous debt, now 80 percent of equity, and to lay off employees in order to get MTS back into shape. Critics sniped that Fraser should simply put a "For Sale" sign on the company. In 1996 MTS did become officially for sale, with its high debt and the need to invest $500 million in new equipment cited as the pressing reason.

The transition came with much political bickering and contradictory sets of statistics. One poll showed that 70 to 80 percent of Manitobans opposed the privatization. Despite much turmoil, MTS became a publicly-owned for-profit company in late 1996.



Ya don't say!

Now I say that don't make much sense, given what Energy Minister Dave Chomiak said in that press release copied and pasted by that Staff Writer theys got there:

"Bill Fraser brings a wealth management experience to the table for his many years of public service,"

Wait just a doggone second there, son! If Billy took over MTS in 1995 and it was sold in 1996 doesn't that mean he has just - one - year of that there "public service" you talkin' about?

And wait WAIT WAAAAAAAAIIIIIIIIT!

...WAIT!

Didn't Greg Selinger and his party of "New Democrats" run ads all campaign long about how that banal, evil, twisted Conservative fella Hugh McFadyen was going to privatize Manitoba Hydro? Were'nt they bashing us over the head tryin' to convince us that the PCs were gonna sell our precious Hydro? That there is a classic flip flop!

Isn't that like that Mitt Romney guy they got runnin' down there in the US-of-A for the Republicans? Isn't he before he was before he was against everythin? Is that what our guy here, whats his name, Greg Selinger is kinda like?



'Cause I seem to remember Selinger going oooooooon and ooooooon and oooooon about how Hugh McFadyen was gonna sell Hydro and how Hugh was an eeeeeeevil evil reincarnation of that guy they had there in the '90s, Gary Filmon. Didn't Greg keep tellin' us Hugh was just a Filmon disciple?

So Billy Fraser gets to sell off MTS under Gary Filmon's leadership and now, now...now we got Greg Selinger appointin' the same guy to chair the MB Hydro Board?

Yer just not supposed to be able to get a job like that after a record like that! I mean, in the private sector....

Is that what they call "politics" in this province? 'Cause I sure don't like it much. They only got elected some 4 months ago. Four months! Christ, it took, Sam Katz longer than that to bend us all over with his fancy-pants frontage levies.

Now this here Billy might see the Hydro Whistleblower's stuff as a screamin' alarm bell!

Sell! Sell! Sell!

If that happens, I might just not see much difference between Greece and Manitoba. Whadda we people here got left?

3 comments:

unclebob said...

Very nice work Graham

bgilchrist said...

One other interesting tidbit that never gets mentioned is that it’s the NDP that actually gutted the legislation protecting the sale of Crown Corporations.
After the privatization of MTS, the Progressive Conservative government passed a law that said any proceeds from the sale of crown corporations had to go to either debt repayment or fiscal stabilization fund ( e.g. you couldn’t use the proceeds to balance your budget)
Once the NDP comes into power, they repeal the law and replace it with one that says you can’t use the proceeds of the sale to balance the budget in the year of the sale. Wait, what?
Let’s say hypothetically that the NDP privatizes Manitoba Hydro in 2014. While they can’t use the proceeds to balance the budget that year, there is nothing to stop them from running a huge deficit the next year and then claiming that the revenue from the privatization the previous year offsets it!

Purple Rod said...

I still cannot believe that the NDP was elected once again. I thought Selinger and company would become drunk with power, and ruin the economy. So far, they have yet to disappoint me.