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"The Washington State Investment Board has averaged over 8 percent annual return on pension funds for the past 20 years – which makes it the number one performer among all public pension investors in the nation."No wonder the BCiMC apologist objected to comparisons with our nearest neighbour.
"Minimum lease payments based on current and new lease agreements in effect as at the periods below are as follows: 2012 $3.9 million; 2013 $30.6 million." That extraordinary increase is explained by management in this fashion:Sharp readers will recall that Jawl Properties was involved with BC Ferries when that organization decided it needed higher status premises with better views of the ocean. I wrote Luxurious new offices and enduring gratitude in 2011. It contained this:
"Jawl Properties, our landlord, is developing a mixed-use building that includes office space to accommodate our planned growth. Work on the site adjacent to our existing offices began in 2012."
"In 2008, the company 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. By sheer good fortune, the new owners quickly found another tenant: Elections BC.I find it strange that, while BCiMC operates in many cities as a major landlord and has accumulated $18-billion in real estate assets, it made good business sense to become rental tenants of the BC government's favourite property developer.
"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."
Why would the British Columbia Ambulance Service/PHSA withhold the results of a costly legal investigation into the conduct of two very public figures: their CEO and COO, who have just resigned under a shroud of "mystery" after 3 months on paid administrative leave? This whole situation is highly unprecedented.My response to the comment:
Apparently, there is at least one other person involved. The issue of "privacy" has been used by government spokespersons as the reason for this withholding of information to the general public.
AGT revealed the troublesome details of this "situation" before his blog went down. I doubt there is one paramedic who doesn't know the "intimate" details.
Carl Roy, newly appointed President and CEO of the Provincial Health Services Authority hired and oversaw both Michael McDougall CEO,and Les Fisher COO. In paramedic circles, Fisher's lack of management experience was seen as a glaring deficit. Roy's seeming lack of due diligence empowered these senior managers to conduct their "private business" with questionable supervision, as witnessed in the separate issue of AG's Doyle's audit which revealed a shocking lack of quality control, finances, and outcomes re the Air Ambulance.
Marcella Bernardo of CKNW has called this "mystery" a scandal:
"The chair of the Provincial Health Services Authority says he can’t disclose exactly why Les Fisher and Michael MacDougall quit, but Wynne Powell admits the investigation into questionable behaviour continues."No severance in BC Ambulance Service scandal
'He says, “Well, the investigation is closed in regards to those two individuals, but the aftermath of the investigation is still under way…. It was a personnel matter that individuals had a choice in how they acted.”
There are more scandals hidden in the province's administration of health services. The government action on Therapeutics Initiave was not fully explained nor was the mistreatment of numerous health researchers who were suspended or terminated.
Pharmacare discovered it and large private insurers like Pacific Blue Cross could save millions by refusing coverage to numerous medicines prescribed by doctors, unless the province granted "special authorities" on a case by case basis. To get one of those, a doctor must negotiate with Victoria and many requests are turned down. Doctors may charge patients for making requests for special authorities or, more likely, they'll turn to second, third or fourth drug choices that are covered or the patient pays 100% of cost, despite having prescription insurance. (This is in addition to the name brand vs generic issue.) Insurance companies are relieved of millions while patients pay extra without any reduction in premiums.
At the root of these situation, as it is with air ambulance service, is the Liberal policy of pandering to a handful of companies that contribute big dollars to politicians and expect large payments from the public treasury in return.
|Restraint in the Land of Not-Net-Zero|
"Heads we win. Tails you lose."
|From Bergman's film The Seventh Seal.|