Russia-Trump inquiry: Full text of Mueller's indictment

http://www.bbc.com/news/world-us-canada-43091945

The US has charged 13 Russian nationals and three Russian firms for meddling in the US 2016 election.

Below is the full text of the indictment, which was announced by Special Counsel Robert Mueller's team.

IN THE UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF COLUMBIA
UNITED STATES OF AMERICA

It would be pretty easy for Donald Trump to launch a nuclear strike: here’s how

By Katie Dangerfield National Online Journalist, Breaking News Global News September 27, 2017 6:20 am

No more betting on how long Trump will last, says Quebec

By National Observer in News, Politics | June 2nd 2017
All bets are off. The Quebec government has put a halt to a gambling scheme launched by its lottery corporation focused on the departure of U.S. President Donald Trump, a Quebec daily newspaper is reporting. On Wednesday, Loto-Québec invited people to start placing their bets on whether Trump would be gone by May 1, 2018. Much laughter ensued on social media.But the Quebec government didn't find it very funny, with the office of Finance Minister Carlos Leitao telling La Presse that the lotto corporation had shown "poor judgment." The newspaper also reported that Premier Philippe Couillard's office and the provincial international relations department also felt Loto-Québec had gone too far.A spokesman for the Crown corporation disagreed. "There are some who might not appreciate it and find that it goes too far," Loto-Québec spokesman Patrice Lavoie, told La Presse. "But we know that (the future of Donald Trump) is part of the public debate and that it interests people. We are talking about it every day." He was also quoted as saying that Loto-Québec tries to ensure its betting games are in "good taste" on issues in the media that everyone is talking about.The betting had also put low odds on Trump's departure, only offering a $1.10 payout for anyone betting $1.00 that the president would be sticking around. Loto-Québec was offering a $3.65 on every dollar for successful bets predicting the president would leave before May 2018.
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Don Quixote Note: Trump bets are still available on the BCLC Site.
https://www.playnow.com/sports/other-sports/politics

Excerpt of available Political bets

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19TH ANNUAL TEDDY GOVERNMENT WASTE AWARD WINNERS

http://www.taxpayer.com/news-releases/19th-annual-teddy-government-waste-award-winners  (for details)

Federal – Canada Revenue Agency for employee’s $538,000 moving expenses
Provincial – Ontario’s Electric Vehicle Incentive Program, which provides subsidies for luxury cars
Municipal – City of Victoria for its bungled Blue Bridge project
Lifetime Achievement – The Government of Ontario for its mishandling of energy policy

OTTAWA, ON: The Canadian Taxpayers Federation (CTF) today held its 19th annual Teddy Waste Awards ceremony, celebrating the best of the worst in government waste from the past year. CTF Federal Director Aaron Wudrick served as host, joined by the CTF’s pig mascot Porky the Waster Hater and talented event hostess Sam. The awards event took place on Parliament Hill in the Charles Lynch Press Conference Theatre.

The Teddy, the pig-shaped award given annually by the CTF to government’s worst waste offenders, is named for Ted Weatherill, a former federal appointee who was fired in 1999 for submitting a panoply of dubious expense claims, including a $700 lunch for two.

“We take our job as waste watchdogs seriously, but that doesn’t mean we can’t have some fun highlighting some of the most outrageous examples,” said Wudrick. “Especially since governments seem infinitely creative when it comes to dreaming up new ways to waste money.”

Canada's top CEOs earn 193 times average worker's salary

https://ca.finance.yahoo.com/news/canadas-top-ceos-earn-193-100000233.html
The compensation of Canada's highest-paid CEOs jumped seven per cent between 2014 and 2015, to a record high average of $9.5 million, according to a new study. In a report published Tuesday, the Canadian Centre for Policy Alternatives looked at salary information from 249 TSX-listed companies. The think-tank then calculated numbers based on the 100 people at the top of that list. According to the group, the richest 100 CEOs in Canada took in an average of $9.5 million in 2015, a figure that includes salaries, bonuses, share grants and stock options. That's well ahead of the $49,510 the group says the typical full-year, full-time worker earned in 2015. Based on 2015 earnings, Canada's 100 top CEOs will earn by 11:47 a.m. today what the average Canadian will make in a whole year. "Nobody's worth that much money, I mean, this is absurd," says Hugh Mackenzie, a research associate at the think-tank and author of the report. "Thirty years ago they managed to scrape by on 40 times what the average person is paid, and now it's 193 times." Between 2008 and 2015, the country's 100 top-paid CEOs saw their compensation climb about 30 per cent, while the average wage for Canadians increased by just 17.5 per cent.
The highest-paid CEOs, according to the study, in order were:
- Valeant Pharmaceutical's Michael Pearson: $182.9 million in total compensation.
- Donald Walker of Magna International: $26.5 million.
- Hunter Harrison of Canadian Pacific Railway: $19.9 million.
Other notable names include BlackBerry's John Chen. He was the highest-earning CEO in 2014, but dropped to 91st in 2015, earning $3.8 million. Eric La Flèche of Metro Inc. was the lowest-paid CEO on the list of 100, earning $3.6 million in 2015. Only two women made the list — Linda Hasenfratz, of Linamar Corp., who was compensated a total of $14.2 million, and Dawn Farrell, of TransAlta Corp., who earned $4.5 million. What's in a name? Of the top 100 highest-paying CEOs on the list, five people are named Marc or Mark, five named Michael, four named Al, John, Paul and Steve, and three named Brian, Charles and Donald.

Rules result in village reassignments

by Richard Rolke - Vernon Morning Star posted Jan 19, 2016 at 12:00 PM
Lumby is adjusting its regional representation to conform to the rules. Mayor Kevin Acton has removed Coun. Lori Mindnich as alternate director to the Regional District of North Okanagan board and appointed Coun. Randal Ostafichuk as the alternate so he can also continue to sit at the White Valley Parks, Recreation and Culture Advisory Committee table. “He’s doing a great job there and he’s half way through his activities there (WVPRCAC),” said Acton. “To move him from there doesn’t make sense.” The shift in appointments is a result of RDNO reviewing its policies and realizing that only the primary director or alternate director to the regional district board can sit on advisory committees. Acton is the village’s director to RDNO, so a decision had to be made on alternate director. Acton says Ostafichuk has played a strong role at parks and rec, while there hasn’t been much call for Mindnich to serve as alternate director. “I miss very few regional board meetings,” said Acton. Mindnich says she understands that Lumby’s appointments must follow RDNO rules. “Randal will have a chance to see what goes on there,” she said of the regional board. Acton admits that RDNO stipulations mean fewer elected officials are involved in making decisions or familiar with what’s taking place. “There seemed to be no conflict,” he said of having non directors and alternates participating. This is the second time that a jurisdiction has had to adjust appointments since RDNO reviewed its policies. Coldstream recently removed Coun. Gyula Kiss from the Greater Vernon Advisory Committee because he was neither a director or alternate director at the board table.

Top CEOs paid nearly $9M last year, 184 times average worker salary

CBC News Posted: Jan 04, 2016 8:46 AM ET
The compensation of Canada's highest-paid CEOs dipped two per cent from 2013 to 2014, but each still raked in an average of $8.96 million, according to a new study. In a report published Monday, the Canadian Centre for Policy Alternatives looked at salary information from 249 TSX-listed companies. The think-tank then calculated numbers based on the 100 people at the top of that list. According to the group, the richest 100 CEOs in Canada took in $8.98 million last year, a drop of about two per cent from 2013's level. That figure includes salaries, bonuses, share grants and stock options. But that's still well ahead of the $48,636 that the group says the typical full-year, full-time worker earned last year. Based on last year's earnings, Canada's 100 top CEOs will earn by 12:18 p.m. today — Jan. 4 — what the average Canadian will make in a whole year. (more)

Natural Resources plugs pesky B.C. well after trying for 50 years - Water flow has finally been stopped after numerous failed attempts

By Dean Beeby, CBC News Posted: Sep 27, 2015 5:00 AM ET

Canada's worst plumbing disaster finally appears to be plugged, after a half-century of trial and error that has cost taxpayers millions of dollars. The Coldstream Ranch artesian well has been a soggy headache for the federal government since June 1965, when a team of geologists accidentally drilled into an uncharted layer of pressurized groundwater. The well, just east of Vernon, B.C., immediately began spouting at a rate of up to 3,800 litres a minute, quickly creating a crater measuring almost eight metres in diameter in the middle of a private cattle ranch. "Things got awful wet fast," said Ted Osborn, who grew up on the ranch and now works there. "They just got their well-rigging out of there and the place all around it collapsed." The Geological Survey of Canada spent two years trying to cap the flow, dumping several thousand bags of concrete and other material into the hole. Oil workers from Alberta were brought in to give advice. Officials eventually settled for a solution in 1967 that reduced the flow and directed much of the water, stinking of rotten eggs because of the high sulphur content, into a local creek.But the pesky well would not be tamed. Officials returned in 1979 for another two-year remediation effort. By 2009, things were again falling apart — a Canadian version of the sorcerer's apprentice as the rogue well slopped more and more water across the landscape. The British Columbia government then weighed in. The province demanded "a long-term solution to address the sediment discharge and uncontrolled water flow, both of which contravene federal and provincial regulations and threaten public health and safety, fish habitat and the environment," said a Natural Resources Canada internal document, obtained by CBC News under the Access to Information Act. 'The original Coldstream Ranch well is now closed. One concern was the ground sediment that the water washes into local waterways, potentially choking everything swimming in them. And so began another years-long effort to cap the infamous Coldstream Ranch well. But Natural Resources Canada says it has finally completed the job begun more than 50 years ago. "The original Coldstream Ranch well is now closed," said department spokeswoman Caitlin Workman. "The remediation plan saw … the well permanently sealed." Most of the work occurred this summer. Engineers hired by Ottawa encountered numerous problems, including a spontaneous sinkhole that had to be filled; removal of 40 years' worth of failed technology from the hole, such as a twisted casing and numerous metal screens; and far more concrete poured than was expected. The engineers also drilled a new, controlled "relief well" to take the pressure off the main well, while an older unreliable "relief well' was itself plugged. Officials will be monitoring the site for at least a year to make sure the new plugs don't pop, potentially flooding a nearby road, house and railroad tracks. The latest operation cost taxpayers at least $3.9 million, about $500,000 over budget, though final costs won't be known until next March. Workman said the ranch owner, Keith Balcaen, was not paid any compensation.Ted Osborn, director of projects at Coldstream Ranch, says a relief well at the site will provide much needed water. Osborn, whose father was a Coldstream Ranch manager, is director of ranch projects and liaised with federal officials on the well-capping. "It seems to be working," he said in an interview. "It seems a very high probability that the work has sealed it." The ranch, which has cherry orchards in addition to cattle, is in a dry area and can use additional water pumped under controlled conditions from the relief well. "It was an unfortunate situation … but the water can be used to good advantage," Osborn said.

BEYOND THE HEADLINES: Ministry of Transportation off course

by Richard Rolke - Vernon Morning Star posted Jul 15, 2015 at 1:00 AM
One of the Ministry of Transportation staff that appeared before Vernon city council Monday is based in Kamloops. To get here, he would have passed through several traffic signals on the Trans-Canada Highway. Another ministry official came up from Kelowna and virtually everyone is familiar with the barrage of lights lining Highway 97 in Kelowna and Lake Country. But despite that personal experience, they tried to convince Vernon’s politicians that a traffic signal at Highway 97 and Stickle Road is not only impractical, but dangerous. “It will result in delays and traffic queues,” said Rampaul Dulay, the ministry’s project director, of a light. “It has the potential to increase collision rates at the intersection with a high frequency of rear-end collisions anticipated.” Dulay also went on to say that, “Driver expectations will not be met because motorists don’t expect signals on high-speed highways.” Based on that argument, Coun. Scott Anderson suggested, “we should take out all traffic signals.” And it’s difficult to believe the ministry is taking that stance when you consider the speed limits that range from 50 to 90 kilometres-an-hour in Lake Country and Kelowna. Motorists are ramping the speed up pretty good when they hit a signal at the Kelowna airport and very few accidents are publicly reported there. The situation isn’t much different in Kamloops and particularly in the Valleyview area and heading east through industrial zones. “I don’t understand why we can’t have a light,” said Mayor Akbal Mund, who spends a lot of time behind the wheel. Despite the ministry’s description of Stickle Road being on a high-speed highway, it’s not in the middle of the boondocks. It is just a short distance from a heavily built-up commercial core, and there are long-standing businesses and residences at the intersection. More commercial development will occur there once sewer lines are extended. Coun. Juliette Cunningham is not impressed with the ministry’s opposition to a light. “There’s a bias and the negatives have been emphasized,” she said. And that is particularly the most surprising factor given that the city, the regional district, businesses and residents have categorically insisted what their preferred option is for the intersection. In fact, Dulay even acknowledged that during an April 30 open house, the ministry heard the need to, “install a traffic signal to improve safety.” But instead of proceeding with grassroots feedback, the ministry went in a completely different direction and is now proposing a model that would allow for left-hand turns from the east side of the highway but eliminate cross traffic and left-hand turns on the west side. “This was one of the proposals considered before,” said Bob Fleming, regional district director. That means little effort went into viable options once the plan for prohibiting left-hand turns was scrapped, and the ministry simply dusted off an old design. Given that the new proposal has been revealed and opposition will have time to wage a fight, the ministry’s July 30 open house could make the raucous April 30 session look like a tea party. My prediction is that so much pressure will build up that MLA Eric Foster will urge the ministry to back off this plan just as occurred after the last open house. What that will mean is despite the ministry wasting significant time and resources, a traffic signal will ultimately be installed.

$97 K electrical bill error addressed in Summerland

by  John Arendt - Penticton Western News posted Jun 25, 2015 at 11:00 AM

The Municipality of Summerland will bill electrical customers to correct a residential energy credit, mistakenly given to electrical customers in 2012 and the first three months of 2013. On Monday evening, municipal council passed a resolution to send bills to recoup the amount of $97,073. The credit was mistakenly given to 519 farm accounts and 163 home business accounts. The provincial government had introduced the residential energy credit to offset the increase in cost to consumers caused by the harmonized sales tax. Before the harmonized sales tax was introduced, residential energy was not charged the provincial sales tax. An audit by the Ministry of Finance, Consumer Taxation Audit Branch determined the municipality had mistakenly given the credit to customers who did not qualify for the rebate. The error affected farm and business use along with residential use on the same meter. The farm use accounted for $82,507 while the business component was $14,566. A staff recommendation called for the municipality to write off the amount, due to the nature of the event and the time frame it covers. Coun. Richard Barkwill disagreed with the recommendation. “I don’t see how we can walk away from nearly $100,000,” he said. “It’s just too much.” “You’re going to hear a great hue and cry about this,” said Coun. Janet Peake. Linda Tynan, chief administrative officer for the municipality, said there are a few farms and businesses which will receive high bills, but the majority of the affected accounts will be billed $100 to $300 to make the correction. Coun. Erin Carlson said the error, which began more than three years ago, should have been addressed earlier. The resolution was carried with Peake, Carlson and Coun. Erin Trainer opposed.

Error on tax notices to cost city $12,000

by Steve Kidd - Penticton Western News posted Jun 12, 2014 at 4:00 PM— updated Jul 11, 2014 at 9:21 PM
The City of Penticton is going to be shelling out about $12,000 to correct a mistake on the 2014 tax notices mailed out to property owners. The first tax bills sent out for 2014 featured the wrong school district — Okanagan Similkameen rather than Okanagan Skaha — with the result that the calculations of total taxes were higher than they should have been. “It was an administrative error,” said Simone Blais, the city’s communication officer, explaining that a staff member chose the wrong line from a list of school districts and corresponding tax rates. “From what I understand the bottom of the page had Okanagan Similkameen, but they didn’t flip the page to see Okanagan Skaha,” said Blais. Amended property tax notices will be mailed out as soon as possible, and property owners are asked to refer to the “amended tax notice” only for the correct amount. In the interim, those who go to the front counter at city hall will have their taxes recalculated automatically. “We sincerely apologize to affected property owners for the error, and regret any inconvenience or confusion this may cause,” said Colin Fisher, chief financial officer. “It is critical that property owners be charged only the amount necessary, and the city’s revenue services team is working swiftly to correct the error for all of our customers.” According to Blais, the new tax notices are all lower than the first notices, though how much lower depends on the assessed value of the property. But reaction from people presented with a lower amount when paying their taxes, she continued, has been positive, with one customer even saying it was like Christmas. However, the mistake comes with a price tag for the city. Blais said mailing out a new set of tax notices is costing about $12,000. “When we look at how important it is to keep our taxpayers in the loop it was decided it was warranted,” said Blais. “It is the only way to 100 per cent guarantee that everyone is notified of the change.” Along with sending out the new tax notices, the city will be directly contacting people who paid their taxes before the mistake was noticed. They will be offered a choice of rebate options. “We can send them a refund or apply that amount to next year’s account so it is a bit of a prepayment. But it is up to them,” said Blais. People who use MyCity to claim their provincial home owner grant are asked to check the welcome screen message for information. E-bill customers using the MyCity online tax notice portal are asked to use the most recent tax notice dated June 11.

Taxpayers who have been following the Multimaterials B.C. recycling program (MMBC) changeover may be surprised to still see a recycling charge on their tax notice. The reasons are twofold, according to Blais. “We don’t know the final incentive amount. The second piece is we are not entirely sure how the program is going to play out,” said Blais. “That all could impact our rate in terms of whether or not we are receiving that financial incentive or going on our own. According to Blais, city council considered whether to use the incentive and decrease the rate now, potentially increasing it again later, but decided it would be better to stay the course and put whatever incentive funds are received aside for future use in education or other programs to fortify the recycling program.

Public pension plans at risk

by The Canadian Press | Castanet - May 6, 2014 / 12:51 pm

The auditor general says Canada's public pension plans could pose a significant threat to the government's financial footing because little attention is being paid to looming costs, such as the longer life spans of retirees. In his spring report to Parliament, Michael Ferguson also warned that prolonged rock-bottom interest rates and lower-than-expected returns on assets could cost taxpayers billions down the road. He recommended that public pensions be evaluated periodically, undergo any necessary changes to ensure their sustainability and that the state of the funds be better explained to the public. "It's important information for members of the pension plan, for future members of the pension plan and for taxpayers because ultimately ... it's the taxpayers, I guess, through the government that is guaranteeing the pension obligations," Ferguson told a news conference Tuesday after tabling his report. "If you think about a brand-new employee in the government starting today at say, 22 years old, they want to know that pension plan is going to be around for, let's say, 70 years."

The report examined the pension plans for the public service, Canadian Forces and RCMP, three major funds that represent 95 per cent of the government's pension liability. The paper said in 2012-13 these massive plans carried net liabilities totalling nearly $152 billion, which made them the federal government's second-biggest liability after market debt. Ferguson warned the financial burden of these plans could deliver a significant blow to the public purse. His report projected that the employer's share of the pension benefits for these funds could climb to 1.6 per cent, or $13.5 billion, in 2050 from 1.2 per cent, or $3.3 billion, of total program expenses in 2017. Some signs of the financial strain have already begun to surface, the audit revealed. The findings said that the plans experienced funding deficits totalling $6.5 billion over the last three years. To help close the gap, special payments amounting to $741 million in 2013, and around $1 billion over the last two years, were necessary. Looking at the long-term risks, the auditor general said Canadians on average are working fewer years, retiring earlier and already living longer than was expected only a few years ago. Ferguson also said pension plans were battered by increased volatility and prolonged low interest rates since the 2008 financial crisis.The report said the plan sponsor did not follow "good practices" in its governance, prompting Ferguson to recommend the pension funds review their approaches to make sure they address current and future conditions. On Tuesday, C.D. Howe president Bill Robson agreed with the auditor general's warning that significant, emerging risks are real.But Robson said he had hoped the report would shed more light on who, exactly, would be on the hook. "The risks to the taxpayer are understated and I think that it's too bad that the auditor general's report doesn't make clear who bears these risks," Robson said.

AP JOHN ROGERS Wednesday, April 16, 2014
LOS ANGELES -- The former city manager of Bell was sentenced Wednesday to 12 years in prison and ordered to make restitution of $8.8 million in a corruption scheme that nearly bankrupted the small, blue-collar city. Robert Rizzo apologized during sentencing in Los Angeles County Superior Court, telling the judge he breached the public's confidence. Rizzo previously pleaded no contest to 69 counts including conspiracy, misappropriation of public funds and falsification of public records. It was revealed in 2010 that Rizzo was giving himself an annual salary and benefits package of $1.5 million in the city where a quarter of the population lives below the federal poverty line. His $800,000 in wages alone was double that of the president of the United States. On Monday, Rizzo was sentenced separately to 33 months in federal prison for income tax evasion after he acknowledged reporting more than $700,000 in phony deductions to reduce tax liability on money authorities say he stole from Bell. The sentence in the corruption case will run concurrently with the federal term. Rizzo will serve the first 33 months in federal prison then go to state prison. He will be on parole for three years after he serves his time. At the time of his plea in the corruption case, Rizzo had offered to help prosecutors convict his chief assistant, Angela Spaccia, who was later sentenced to nearly 12 years in prison. (more)

An audit by the state controller's office found Bell illegally raised property taxes, business license fees, sewage fees and trash collection fees; illegally diverted gas taxes and other state and federal funds; and issued $50 million in voter-approved municipal bonds for a public park that was never built. A good portion of that money, auditors found, went into the lucrative salaries and pensions that Rizzo, Spaccia and other top officials collected."The city of Bell's internal control system was virtually non-existent," state Controller John Chiang said when the audit was issued. "All of the city's financial activities and transactions evolved around one individual - the former chief administrative officer."
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Also see: http://www.usatoday.com/story/news/nation/2014/04/16/bell-california-corruption-robert-rizzo-sentenced/7788143/

excerpt:
Under a deal with prosecutors, five former City Council members pleaded no contest to misappropriating city funds, and Kennedy will begin sentencing them in June. Punishments range from probation to four years in prison, and all must make restitution and never again seek public office. One council member, a preacher, was acquitted. Last week, Rizzo's deputy, Angela Spaccia, was sentenced to 11 years and eight months in state prison for misappropriating public funds by giving herself enormous raises. When a jury found her guilty in December, her salary was $564,000. On the witness stand, Spaccia acknowledged that she felt she was earning too much when her salary passed $340,000, but argued that it was not criminal.
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http://en.wikipedia.org/wiki/City_of_Bell_scandal

Detroit's bankruptcy deal

by The Canadian Press | CASTANET - Apr 9, 2014 / 3:32 pm
The city of Detroit reached a deal in bankruptcy over $388 million in bonds, mediators announced Wednesday, a significant agreement that could influence other creditors to try to get a settlement. Detroit will pay 74 cents for each dollar. Roughly $50 million in tax revenue that won't be needed to pay the balance instead will go to a fund to help low-income retirees who are expected to see smaller checks when the bankruptcy case ends. The deal still needs the blessing of Judge Steven Rhodes and is only a small part of the $18 billion case, the largest bankruptcy by a local government in U.S. history. Detroit emergency manager Kevyn Orr, appointed by the state to run the city, said he hopes to announce more deals soon. "It's important that people get on the bandwagon," Orr told The Associated Press, referring to other creditors, especially unions, who have been privately meeting with the city and mediators. Earlier, on CNBC, Orr said he doesn't want to turn to a "cram-down," a bankruptcy term that gives a judge sweeping power to settle disputes. The aid for low-income retirees was welcomed by a spokesman for the police and fire pension fund. "However, whether the settlement as a whole is advantageous to the city and to the retirement systems — we just do not know," Bruce Babiarz said. Detroit hopes to exit bankruptcy by October, but the city's plan first faces a series of court hearings in summer. The most divisive issue: cuts to pensions. The city is proposing a 6 per cent cut for retired police officers and firefighters, and a 26 per cent cut for other retirees. The difference is tied to the health of the two pension funds. The size of those cuts assumes that foundations, the state of Michigan and other philanthropists contribute $816 million to help pensioners and prevent the sale of city-owned art. If retirees and city employees reject the cuts, the outside money vanishes and pensions would be slashed even more. Anthony Sabino, a bankruptcy expert and St. John's University law professor, said the bond deal is a "good sign of progress" in the case. "We call that taking a haircut," he said. "That's fairly typical for bondholders in a corporate bankruptcy. There usually is a restatement of terms, and the bondholders take some kind of reduction." Bondholders earlier had been offered 15 cents on the dollar, but Orr said there was a risk that the city would lose access to a property tax earmarked for debt if it didn't make a better deal. Separately, a group of creditors with eyes on Detroit's art said it has found buyers willing to pay more than $1 billion for parts or all of the collection. Creditors are asking the judge to order Orr to co-operate with interested parties. New York-based Art Capital Group said it would arrange $2 billion in loans to Detroit with art at the Detroit Institute of Arts used as collateral. Orr, however, told AP he's not interested and will stick with a plan to raise money from foundations and the state. "We've committed ourselves to that bargain. No one can compel the city to sell assets," Orr said.

Non-profit extravagance

by CTV | CASTANET - Mar 20, 2014 / 2:26 pm
The non-profit group that looks after some of Canada's poorest citizens blew thousands of dollars on lavish hotels, limousine rides, expensive dinners and even a trip to a Disney resort. Separate financial reviews examining expenses by the Portland Hotel Society -- which runs Canada's only safe-injection site -- have uncovered misuse of corporate credit cards, unsupported expenses and inadequate criminal record checks. A B.C. government review and an external financial audit reveal what the province says are significant concerns over the practices of the society that operates numerous programs in Vancouver's Downtown Eastside. The audit detailed over $8,600 spent on limousine rides last year, a stay in a United Kingdom hotel that cost almost $900 per night, and a trip for two adults and two children to the Disney resort in Anaheim at a cost of more than $2,600. The audit also revealed the non-profit society is in weak financial shape, is more than $130,000 into it's bank overdraft and drew $1.2 million from lines of credit and a business loan.A joint news release from the ministries of health and housing says the board and senior managers of the society have been fired and an interim board has been appointed to oversee a restructuring of society operations.

16TH ANNUAL “TEDDY” GOVERNMENT WASTE AWARDS WINNERS

https://www.taxpayer.com/news-releases/16th-annual--teddy--government-waste-awards-winners

• Federal – Employment and Social Development Canada – wasted $2.5 million on 2013 Stanley Cup playoffs advertising for the non-existent Canada Jobs Grant
• Provincial – fired Toronto Pan-Am Games boss
• Local – Vancouver’s TransLink builds $4.5 million parking lot for nobody
• Lifetime Achievement – The Senate of Canada, after sober second thought

OTTAWA, ON: The Canadian Taxpayers Federation (CTF) today held its 16th annual Teddy Waste Awards ceremony, celebrating the best of the worst in government waste. Joining the CTF’s pig mascot Porky the Waste Hater was CTF Federal Director Gregory Thomas in his third year as Master of Ceremonies, and talented event hostess Nakisa. The gala awards event took place Parliament Hill at the Charles Lynch Press Conference Theatre. The Teddy, the pig-shaped award given annually by the CTF to government’s worst waste offenders, is named for Ted Weatherill, a former federal appointee who was turfed in 1999 for submitting an imaginative collection of sketchy expense claims, including a $700 lunch for two. The CTF hosts the Teddy awards each year during red-carpet season to highlight waste and malfeasance at the national, provincial and local level. “Sometimes taxpayers get the last laugh on crooked politicians and free-spending bureaucrats,” said Thomas. “Sometimes a Teddy award can be the beginning of the end for a sad story of government waste.” (more)

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Click here for our detailed backgrounder on all 2014 Teddy award nominees.

Major online bitcoin exchange Mt. Gox vanishes

THE ASSOCIATED PRESS FEBRUARY 24, 2014
TOKYO—The website of major bitcoin exchange Mt. Gox is offline Tuesday amid reports it suffered a debilitating theft, a new setback for efforts to gain legitimacy for the virtual currency. The URL of Tokyo-based Mt. Gox was returning a blank page. The disappearance of the site follows the resignation Sunday of Mt. Gox CEO Mark Karpeles from the board of the Bitcoin Foundation, a group seeking legitimacy for the currency. At the Tokyo office tower housing Mt. Gox, bitcoin trader Kolin Burgess said he had picketed the building since Feb. 14 after flying in from London, hoping to get back $320,000 he has tied up in bitcoins with Mt Gox. “I may have lost all of my money,” said Burgess, next to placards asking if Mt. Gox is bankrupt. “It hasn’t shaken my trust in Bitcoin, but it has shaken my trust in bitcoin exchanges.” (more)
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   FORBES 2/25/2014 @ 1:56AM
 Bitcoin's Price Plummets As Mt. Gox Goes Dark, With Massive Hack Rumored
For years, Mt. Gox was the most important business in the Bitcoin economy. Now, as it teeters on the brink of total failure, it’s become the cryptocurrency’s greatest liability and one that may call its future into question. Bitcoin’s value fell close to 23% from its already battered price to around $418 at its lowest point Monday night as the oldest and once-largest Bitcoin exchange went offline completely, showing a blank website and even deleting all messages from its Twitter feed. That dramatic drop in Bitcoin’s price, in fact, doesn’t even factor in the digital currency’s exchange rate on Mt. Gox itself, where Bitcoins were selling for less than $200 as users feared that they wouldn’t be able to retrieve coins they’d bought due to the company’s potential bankruptcy. And while the company went silent, rumors have swirled that its downtime is a result of a massive hack that has stolen as many as 744,000 bitcoins, fully 6% of all bitcoins in existence. (more)

Bixi goes bust: Future of Vancouver bike share program uncertain

CTV British Columbia Published Monday, January 20, 2014 2:54PM

The Quebec-based company tasked with providing bikes for Vancouver’s new bike share program has filed for bankruptcy protection. Bixi faces $47-million in debt over its public bike system in Montreal and the city refuses to lend it any more money to keep its wheels spinning. Montreal propped up the bike rental company with $37-million in loans just two years ago.Bixi also owes millions to the city of Toronto. The bankruptcy news throws the city of Vancouver’s bike share program into uncertainty. Vancouver’s bike program was initially supposed to launch early this year but was delayed over Bixi’s financial issues. Late last year, Non-Partisan Association councillors said Bixi’s economic troubles were a sign Vancouver should put the brakes on the program temporarily. But Councillor Heather Deal said Vancouver -- unlike other cities -- wouldn’t take on a contract with loan guarantees, so it would be protected. Vancouver’s bike share program was due to have 250 bikes equipped with GPS and 25 stations. It would eventually see a total of 1,500 bikes at 150 stations, which would be located every two to three blocks and feature helmet dispensers for safe riding. Memberships would cost $95 per year, $20 per month or $5 per day, and the city would receive 50 per cent of the profits. Bixi started in Montreal five years ago but quickly expanded to the U.S. and Australia. The company has apparently been looking to sell off those operations to raise capital, but has been unsuccessful in finding a buyer. With 14 operations in different municipalities, critics say Bixi has spread itself too thin, and doesn’t have a viable business plan to sustain the operation. New York and Chicago are withholding payments totalling $5.6-million because of delays and glitches with Bixi software that's affecting their bike-sharing programs.

US rule banning banks from trading for their own profit set to be approved by US regulators

by The Canadian Press - Castanet Dec 10, 2013 / 6:50 am
WASHINGTON - U.S. banks will be barred in most cases from trading for their own profit under a federal rule set to be approved Tuesday. Five U.S. regulatory agencies are voting on the so-called Volcker Rule, a major step toward preventing extreme risk-taking on Wall Street that helped trigger the 2008 financial crisis. Congress instructed regulators to draft the rule under the 2010 financial overhaul law. The rule seeks to ban banks from proprietary trading. It's a practice that has been lucrative for banks. In addition to banning trades for their own profit, the rule limits banks' investments in hedge funds. There is an exemption for proprietary trades when they are to facilitate buying and selling investment for customers. The largest U.S. banks will be required to comply by July 2015.

Effect of USA Government Shutdown.

On right hand side of this blog is a link to the NASA image of the day. Today Oct. 1 when you click on it you get:

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NASA Image of the Day

Full View of Asteroid Vesta