Monday, March 26, 2012

Ethically challenged plutocrat

SNC-Lavalin CEO resigns after review, Paul Waldie, The Globe and Mail Report on Business, March 26, 2012
"SNC-Lavalin Group Inc. has announced the departure of chief executive officer Pierre Duhaime amid allegations he allowed a series of unauthorized payments totalling $56-million (U.S.) ...the company cannot properly account for $56-million in payments, some of which went to “agents” working on various projects."
It must be remembered that one of Premier Christy Clark's key facilitators is Gwyn Morgan who has been Chair of SNC-Lavalin since May 2007 and a Director of the company since 2005. Under Morgan's leadership, SNC-Lavalin, by its own admission, has been ethically challenged.

It therefore comes as no surprise that Morgan is comfortably associated with the ethically challenged BC Liberal Party or with the hypocritical Fraser Institute that argues for massive cuts to government spending but has funded itself with taxpayer subsidies. The Fraser Institute Foundation has receipted millions of dollars as "charitable donations." This has been dependent on permissive enforcement by the Harper Government because under CRA guidelines, political purposes are not acceptable charitable activities and the Fraser Institute is distinctly political in everything it does.



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3 comments:

  1. Assume that this is the same Gwyn Morgan who has been associated with this: http://www.cbc.ca/news/politics/story/2012/01/26/weston-commission-politics.html

    Harper sure picks his appointees well, doesn't he (sarcasm alert)?

    ReplyDelete
  2. Indeed it is.

    Other info about him at Northern Insight: Gwyn Morgan

    .

    ReplyDelete
  3. This morning - CBC News -

    "Based on the results of the [internal] investigation, [SNC-Lavalin board chairman Gwyn] Morgan said, the board doesn't believe the money was used for bribes or wound up in Libya.
    However, he acknowledged the company wasn't "able to really determine the use of those payments."
    "We did our best to find out everything we could about the course of those payments and haven't been able to do so. At this point there is no further action we can take."
    ...
    The company said [CEO Pierre] Duhaime co-operated with the investigation but couldn't provide details about the payments.
    Morgan acknowledged that the need for an investigation tarnishes the reputation of the company and perhaps the construction industry.
    But he urged people to put the matter in perspective given the overall size of the company, whose revenues exceeded $7 billion US last year.
    "We have operated 100 years and we haven't had this kind of problem and we've retained lots of agents and done thousands and thousands of projects around the world, so I think we have to put this into perspective."

    ---

    What kind of world are we living in!?! They've been operating for 100 years and they can't track where $56 million would disappear to?! If I were a shareholder, I'd be peeved.

    Morgan on the phone to CClark this afternoon -
    "It's all perspective Christy! $56 million - not so much - look over here - shiny thing - I'm your senior advisor, I know what I'm doing."

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