It's been quite a news day, what with Iran test firing missiles that could theoretically reach Israel or the eastern reaches of NATO -- either scenario, and definitely the latter, could drag Canada into war if there was a real attack; a US consulate bombing in Istanbul killing six; and the parents of JonBenét Ramsey finally being cleared in her murder but with no definitive conclusion as the killer's DNA is not in any database.
But it's this one story in France that I find rather intriguing.
Last night, Ségolène Royal, France's leading Socialist, suggested that a break-in at her apartment on June 27th may have been an inside job done on the orders of the current French President and the man who defeated her in the elections last year, Nicolas Sarkozy. She wondered out loud on France 2, the country's primary state-run channel, if it was just a coincidence that the ransacking occured just a day after she criticized the grip of the "Sarkozy clan" on the country.
François Fillion, the French PM, accused her of slander. Even some Socialists are wondering if she went too far, saying getting broken into is just part of the job of being a politician.
But isn't this something that should be investigated, no matter who's behind it? After all, that little thing called Watergate started with burglary in the third degree. We think politics in Canada and the US can get nuts. It's small potatoes compared to what goes on in the EU states, most of whom allow bribes to corrupt officials in Third World countries to be deducted as a business expense -- which says something about the state of affairs in the homelands. (Canada officially bans the practice but you know the accountants and tax lawyers always find a way around this.)
Personally I do find it suspicious that it was her flat and not that one of her minions that was the target. It should raise a red flag (pardon the pun).
Vote for this post at Progressive Bloggers.
Wednesday, July 9, 2008
Tuesday, July 8, 2008
Google: Stop the throttle!
When even Google complains about throttling one begins to understand how important Net Neutrality is. It's good to see one of the big guys finally standing up for such a key principle of what the Internet is supposed to be about.
Now if only they applied a similar principle and insisted whole countries stop their throttle as well -- say China, for instance.
Vote for this post at Progressive Bloggers.
Now if only they applied a similar principle and insisted whole countries stop their throttle as well -- say China, for instance.
Vote for this post at Progressive Bloggers.
Monday, July 7, 2008
If Fannie and Freddie goes, America's really screwed!
If anyone thought the subprime mortgage situation bottomed out, they're wrong. It's not over yet, not by any means. And the next shoes to drop today were the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac).
Contrary to popular belief, these so-called "government sponsored enterprises" are not backed by the full faith and credit of the US government; nor is it totally clear what would happen if either failed or who would have to bail out the companies in case of collapse.
However, both Fannie and Freddie tanked in share prices today by nearly 20%; over concerns that both will have to raise billions in new capital just to be able to guarantee this year's crop of mortgages should underscore just how bad the housing situation is. (Normally, the insurance is a premium of ¼ to ½% of the mortgage taken out although it could be higher depending on credit risk of a customer; about 60% of mortgages in the US are backed this way, as mortgages are paid off fresh capital is released for new mortgages and so forth -- at least it's supposed to work that way.)
This has been a timebomb waiting for years, but it's only with the subprime scandal that it's become crisis critical.
Here in Canada, the Canada Mortgage and Housing Corporation is owned 100% by the Canadian taxpayer; and while it does have a fairly good success rate dating back to World War II, it has for the last few years backed mortgages at 100% of its value with no money down. This was a change from a longstanding policy of a 90/10 split (10% down with 90% backed by a loan guarantee to cover the bank's or trust company's ass). If the subprime crisis explodes here as it did in the US and the UK, there will be a lot of blowback and certainly a lot of questions as to how this was allowed to happen.
If the GSEs go, then mortgage companies may have no choice but to go to vulture funds for support; and people should really be scared if corporate raiders like Carl Icahn or Kirk Kerkorian call the shots, let along sovereign wealth funds. If it comes to that scenario, Americans had better hope their mortgages are being held in friendly countries like Norway and Canada (presuming the subprime problem in the rest of the developed world is contained); and not evil dictatorships like Saudi Arabia or Mainland China.
Vote for this post at Progressive Bloggers.
Contrary to popular belief, these so-called "government sponsored enterprises" are not backed by the full faith and credit of the US government; nor is it totally clear what would happen if either failed or who would have to bail out the companies in case of collapse.
However, both Fannie and Freddie tanked in share prices today by nearly 20%; over concerns that both will have to raise billions in new capital just to be able to guarantee this year's crop of mortgages should underscore just how bad the housing situation is. (Normally, the insurance is a premium of ¼ to ½% of the mortgage taken out although it could be higher depending on credit risk of a customer; about 60% of mortgages in the US are backed this way, as mortgages are paid off fresh capital is released for new mortgages and so forth -- at least it's supposed to work that way.)
This has been a timebomb waiting for years, but it's only with the subprime scandal that it's become crisis critical.
Here in Canada, the Canada Mortgage and Housing Corporation is owned 100% by the Canadian taxpayer; and while it does have a fairly good success rate dating back to World War II, it has for the last few years backed mortgages at 100% of its value with no money down. This was a change from a longstanding policy of a 90/10 split (10% down with 90% backed by a loan guarantee to cover the bank's or trust company's ass). If the subprime crisis explodes here as it did in the US and the UK, there will be a lot of blowback and certainly a lot of questions as to how this was allowed to happen.
If the GSEs go, then mortgage companies may have no choice but to go to vulture funds for support; and people should really be scared if corporate raiders like Carl Icahn or Kirk Kerkorian call the shots, let along sovereign wealth funds. If it comes to that scenario, Americans had better hope their mortgages are being held in friendly countries like Norway and Canada (presuming the subprime problem in the rest of the developed world is contained); and not evil dictatorships like Saudi Arabia or Mainland China.
Vote for this post at Progressive Bloggers.
It is Gay, or is it ...
One thing I don't like about web filters is how it can screw up legitimate research. A few years back, some may remember that such "parental blocks" stopped access to a website about the MarsExplorer because when typed as a single word it contained the word sex. Absolutely no apologies from creators of such filters; especially not Donna Rice, the hypocritical woman who brought down the equally two-faced Gary Hart.
Some sites have found another way around this. They substitute "offensive" words with other ones. For example, "gay" with "homosexual." Now why anyone would find the word gay offensive is beyond me; but it led to an embarrassing situation this past weekend, when an American athlete named Tyson Gay won the US 100 metre championship and qualified for the Olympics. An American conservative website run by the American Family Association -- OneNewsNow.com -- changed the name of Tyson Gay to Tyson Homosexual. Soon, wire services around the world were reporting that "Homosexual Breaks Greene's Record" and other similar headlines.
Not the kind of publicity Mr. Gay wants to be sure ... but any publicity is good publicity, I suppose. And still, absolutely no comment from the AFA.
BFS.
Vote for this post at Progressive Bloggers.
Some sites have found another way around this. They substitute "offensive" words with other ones. For example, "gay" with "homosexual." Now why anyone would find the word gay offensive is beyond me; but it led to an embarrassing situation this past weekend, when an American athlete named Tyson Gay won the US 100 metre championship and qualified for the Olympics. An American conservative website run by the American Family Association -- OneNewsNow.com -- changed the name of Tyson Gay to Tyson Homosexual. Soon, wire services around the world were reporting that "Homosexual Breaks Greene's Record" and other similar headlines.
Not the kind of publicity Mr. Gay wants to be sure ... but any publicity is good publicity, I suppose. And still, absolutely no comment from the AFA.
BFS.
Vote for this post at Progressive Bloggers.
Truscott gets blood money --- Lynne Harper's father gets squat
No amount of money can compensate for what Steven Truscott went through -- trying for 48 years to clear his name in a sex slaying he did not commit; facing a death sentence at the age of fourteen after a closed trial that violated every precept of due process, and despite forensic evidence that didn't even amount to probable cause let alone proof beyond a reasonable doubt.
Still today, nearly a year after he was finally acquitted, Truscott received an out-of-court settlement for $6.5 million.
That's all well and good; but the fact remains the investigation of who killed Lynne Harper remains open. All the evidence that could have pinned the real killer is useless; and the guy who should have been the prime suspect all along was cremated upon his death in 1975 and no blood samples were taken from him at the morgue.
To add insult to injury, the maximum payout available to Lynne's father Leslie -- if he ever applied for it -- is a paltry $50,000. That's it. I submit that there should be just and adequate compensation for the Harpers too. No amount of money can truly compensate for the murder of a minor any more than for the wrongful conviction of a suspect. But where the then Crown Attorney deliberately colluded with the federal Defence Department to ensure an innocent person would hang, then there should be compensation for the victim's family on a dollar-for-dollar basis at the minimum; and in this case the bill should be split equally between the federal and provincial governments.
One last thing: This should be a case for America's Most Wanted. They've solved colder cases than this, and someone out there knows the truth. It's time a wider audience was told the story -- and old memories pried open. I believe the killer is still alive and out there and he needs to be caught so that both the Harpers and the Truscotts can have justice once and for all.
Vote for this post at Progressive Bloggers.
Still today, nearly a year after he was finally acquitted, Truscott received an out-of-court settlement for $6.5 million.
That's all well and good; but the fact remains the investigation of who killed Lynne Harper remains open. All the evidence that could have pinned the real killer is useless; and the guy who should have been the prime suspect all along was cremated upon his death in 1975 and no blood samples were taken from him at the morgue.
To add insult to injury, the maximum payout available to Lynne's father Leslie -- if he ever applied for it -- is a paltry $50,000. That's it. I submit that there should be just and adequate compensation for the Harpers too. No amount of money can truly compensate for the murder of a minor any more than for the wrongful conviction of a suspect. But where the then Crown Attorney deliberately colluded with the federal Defence Department to ensure an innocent person would hang, then there should be compensation for the victim's family on a dollar-for-dollar basis at the minimum; and in this case the bill should be split equally between the federal and provincial governments.
One last thing: This should be a case for America's Most Wanted. They've solved colder cases than this, and someone out there knows the truth. It's time a wider audience was told the story -- and old memories pried open. I believe the killer is still alive and out there and he needs to be caught so that both the Harpers and the Truscotts can have justice once and for all.
Vote for this post at Progressive Bloggers.
Sunday, July 6, 2008
Canada gets dibs on Iraq's nuclear fuel
Despite my misgivings about nuclear power, I do (albeit reluctantly) support its use for peaceful purposes such as electricity production and the manufacture of medical isotopes. However, this story unexpectedly and inexplicably links Canada forever with the war in Iraq. 550 tonnes of "yellow cake," a lower grade of uranium not potent enough to make a nuclear bomb but enough to cause problems if it was detonated, was sold to the Canadian company Cameco. No details on what the price was; but the stuff was shipped in 3500 barrels from Tuwaitha to Baghdad, then flown to Diego Garcia and finally on a US-flagged ship to Montréal -- which shipment made it to port yesterday.
Once processed, the yellow cake will be used in Ontario's nuclear power plants. I fully understand the secrecy involved, and am somewhat comforted that it is out of the hands of terrorists. But there are several points that bother me about this.
First, there was always the risk that the bad word may have gotten out and the shipment may have been a target for a terrorist attack anywhere along the route. This is certainly the case for future shipments; as well as for when and if shipments of our own nuclear waste commence to Yucca Mountain and the abandoned mines in Saskatchewan. No security guarantees exist that would pacify most people.
Second, this sale and shipment sets a very dangerous precedent. We have processed fuel from rogue states before, but that was in limited amounts and was in any case sent to the research facility at Chalk River; and we know the problems they have had and continue to. To process this much fuel for commercial use may send a signal that we're the world's dumping ground for spent and / or unsecured fuel.
Third, even if we're obligated to so do under our treaty obligations, why aren't other countries stepping up? Especially the United States who you'd think would want the fuel to reduce its reliance on Middle East oil.
Fourth, this may be the last of the nuclear fuel Iraq had but it still faces years of clean-up of contaminated facilities. Who pays the bills? Since we're now complicit in the nuclear trade with Iraq, does that mean we're liable for part of the costs in case the reprocessed fuel causes problems for the reactors at Bruce, Pickering and Darlington? Or should it be Iraq since they allegedly caused the problem to begin with? Or would it be Niger where the yellow cake came from in the first place?
And fifth, anyone out there who thinks it's just a coincidence the arrival of this shipment happens on the fifth anniversary of the series of events that led to the betrayal of Valerie Plame -- over the same yellow cake?
One hasn't heard the end of this ... not by any means.
Vote for this post at Progressive Bloggers.
Once processed, the yellow cake will be used in Ontario's nuclear power plants. I fully understand the secrecy involved, and am somewhat comforted that it is out of the hands of terrorists. But there are several points that bother me about this.
First, there was always the risk that the bad word may have gotten out and the shipment may have been a target for a terrorist attack anywhere along the route. This is certainly the case for future shipments; as well as for when and if shipments of our own nuclear waste commence to Yucca Mountain and the abandoned mines in Saskatchewan. No security guarantees exist that would pacify most people.
Second, this sale and shipment sets a very dangerous precedent. We have processed fuel from rogue states before, but that was in limited amounts and was in any case sent to the research facility at Chalk River; and we know the problems they have had and continue to. To process this much fuel for commercial use may send a signal that we're the world's dumping ground for spent and / or unsecured fuel.
Third, even if we're obligated to so do under our treaty obligations, why aren't other countries stepping up? Especially the United States who you'd think would want the fuel to reduce its reliance on Middle East oil.
Fourth, this may be the last of the nuclear fuel Iraq had but it still faces years of clean-up of contaminated facilities. Who pays the bills? Since we're now complicit in the nuclear trade with Iraq, does that mean we're liable for part of the costs in case the reprocessed fuel causes problems for the reactors at Bruce, Pickering and Darlington? Or should it be Iraq since they allegedly caused the problem to begin with? Or would it be Niger where the yellow cake came from in the first place?
And fifth, anyone out there who thinks it's just a coincidence the arrival of this shipment happens on the fifth anniversary of the series of events that led to the betrayal of Valerie Plame -- over the same yellow cake?
One hasn't heard the end of this ... not by any means.
Vote for this post at Progressive Bloggers.
Saturday, July 5, 2008
First the Euro, next the ...
In the last few years, we've seen the Euro -- which many people thought would be a disaster -- prove to be an extremely powerful currency and challenging the pre-eminence of the US dollar. The 18 countries officially in the Eurozone (15 EU states, plus three more that mint their own coins with permission) now have a collective strength bigger than the US economy in terms of GDP. The twelve countries which still haven't adopted the Euro are also doing relatively well right now -- and of those that have to join at some point (other than Denmark, Sweden and the UK which still have opt-outs) the delay is only because of short term spikes in food and energy costs.
Even the Bank of Canada now has more reserves in Euros than US dollars (really!) which indicates how much we think the States are going to hell in a hand basket. With the news this week that Canada will indeed open free trade talks with the EU later this year, as many on both the right as well as on the left (one of them like myself) have suggested, the US government as well as the American people are being put on notice.
The Euro wasn't the first common currency of course. There was a Latin Monetary Union in the 19th century; and several Caribbean states share their own dollar which generally floats with the American buck. Some South American countries' alliance in the Mercosur alliance may view a European-style union as the next logical step.
The idea of an "Amero" uniting the money Canada, the US and Mexico is just talk however; and suggested Amero coins are just that -- privately minted collector's items that are playing on people's fears, thankfully pundits like Lou Dobbs are being made to look like fools on this. (The good folks at Snopes.com thoroughly debunk the myth here as well as explaining the Euro's key weakness.)
Some other monetary unions are pending. However, one potential common currency that is not mere talk but the next shoe to drop is that which is now being discussed by the Gulf Cooperation Council, or GCC. Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates and possibly Yemen (whose membership in the group is pending) are planning to roll out something temporarily called the khaleeji, as early as 2010. A new reserve currency is really going to cause problems for the West especially if it proves to be as resilient as the once weak Euro -- since pressures are going to be high to keep oil at least $100 pb for some time to come.
Yet there is no talk from the US candidates for President -- Sen. John McCain (R-AZ) or Sen. Barack Obama (D-IL) any more about this than about the dramatic rise in the Euro (which I talked about last month), which increased even more this week when the ECB raised interest rates in the Eurozone to control inflation. What are these candidates, chicken? People who trade in forex, including increasingly the common man, would like to know. As would the rest who wonder if they can even afford to take a vacation in their own country this year let alone go abroad.
Vote for this post at Progressive Bloggers.
Even the Bank of Canada now has more reserves in Euros than US dollars (really!) which indicates how much we think the States are going to hell in a hand basket. With the news this week that Canada will indeed open free trade talks with the EU later this year, as many on both the right as well as on the left (one of them like myself) have suggested, the US government as well as the American people are being put on notice.
The Euro wasn't the first common currency of course. There was a Latin Monetary Union in the 19th century; and several Caribbean states share their own dollar which generally floats with the American buck. Some South American countries' alliance in the Mercosur alliance may view a European-style union as the next logical step.
The idea of an "Amero" uniting the money Canada, the US and Mexico is just talk however; and suggested Amero coins are just that -- privately minted collector's items that are playing on people's fears, thankfully pundits like Lou Dobbs are being made to look like fools on this. (The good folks at Snopes.com thoroughly debunk the myth here as well as explaining the Euro's key weakness.)
Some other monetary unions are pending. However, one potential common currency that is not mere talk but the next shoe to drop is that which is now being discussed by the Gulf Cooperation Council, or GCC. Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates and possibly Yemen (whose membership in the group is pending) are planning to roll out something temporarily called the khaleeji, as early as 2010. A new reserve currency is really going to cause problems for the West especially if it proves to be as resilient as the once weak Euro -- since pressures are going to be high to keep oil at least $100 pb for some time to come.
Yet there is no talk from the US candidates for President -- Sen. John McCain (R-AZ) or Sen. Barack Obama (D-IL) any more about this than about the dramatic rise in the Euro (which I talked about last month), which increased even more this week when the ECB raised interest rates in the Eurozone to control inflation. What are these candidates, chicken? People who trade in forex, including increasingly the common man, would like to know. As would the rest who wonder if they can even afford to take a vacation in their own country this year let alone go abroad.
Vote for this post at Progressive Bloggers.
Friday, July 4, 2008
Jesse Helms: Hard to mourn for
He hated blacks, gays, Native Americans and thought rights for women was a sick joke. He voted in support of apartheid. He despised the National Endowment for the Arts and tried several times to disband it. He opposed funding for AIDS research (although he later backed down slightly in his final year in the Senate and did support low cost anti-retrovirals for Africa). He thought smoking nicotine was perfectly safe. He openly called for the assassination of Bill Clinton. He was, in short, everything that even Ronald Reagan didn't dare to try to get away with.
Oh, yeah ... he was also a Freemason; so he hated Catholics too.
About the only thing one could agree with him on was his absolute opposition to Communism -- although with Cuba he took it way too far.
His name was Jesse Helms, the former Senator from North Carolina. And he died today at 86.
RIP ... but it'll be God who will have to forgive him, because a lot of people including myself can't. I'm not exactly celebrating either however; it would take someone like Robert Mugabe dropping for me to buy a brewski.
Frankly with Helms' shadow now gone, North Carolina may have become just a bit easier for Barack Obama to win in the fall.
Vote for this post at Progressive Bloggers.
Oh, yeah ... he was also a Freemason; so he hated Catholics too.
About the only thing one could agree with him on was his absolute opposition to Communism -- although with Cuba he took it way too far.
His name was Jesse Helms, the former Senator from North Carolina. And he died today at 86.
RIP ... but it'll be God who will have to forgive him, because a lot of people including myself can't. I'm not exactly celebrating either however; it would take someone like Robert Mugabe dropping for me to buy a brewski.
Frankly with Helms' shadow now gone, North Carolina may have become just a bit easier for Barack Obama to win in the fall.
Vote for this post at Progressive Bloggers.
Thursday, July 3, 2008
Sports betting in Ontario?
The government of Ontario is now considering allowing people to bet on single games at casinos and racetracks -- not just the three game parlays they are limited to right now. The hang up right now is that the Criminal Code would have to be amended so the change could be made national; and we know how much PMS and Dalton McGuinty hate each other.
Presuming this change is allowed, what's next? Allowing betting on anything such as which celebrity will die next, or who will win the next papal conclave? There are already issues with organized crime laundering money through them and just barely escaping the radar with the $10,000 rule. This really is pushing it.
Despite some of mymisgivings about casinos, the ones set up here tend to be a lot saner than the free for alls that exist in Las Vegas. A little regulation is a good thing.
Vote for this post at Progressive Bloggers.
Presuming this change is allowed, what's next? Allowing betting on anything such as which celebrity will die next, or who will win the next papal conclave? There are already issues with organized crime laundering money through them and just barely escaping the radar with the $10,000 rule. This really is pushing it.
Despite some of mymisgivings about casinos, the ones set up here tend to be a lot saner than the free for alls that exist in Las Vegas. A little regulation is a good thing.
Vote for this post at Progressive Bloggers.
Wednesday, July 2, 2008
15 Colombian hostages freed
No further comment is required for this good news tonight. It's been far too long in coming, especially in the case of Ingrid Bettancourt who's been held captive for six years and who many gave up for dead. However there are still many more hostages being held against their will for political reasons and they too must be freed, wherever they may be, without conditions.
Vote for this post at Progressive Bloggers.
Vote for this post at Progressive Bloggers.
If some says they "deserve" to win the Order of Canada, they don't
I had some misgivings the last few days ever since it leaked out that Henry Morgentaler was going to be awarded the Order of Canada, the country's highest civilian honour. It's not because for his firm pro-choice advocacy. There was something else that was nagging me about it. Today, it was confirmed: It's that he came out and actually said that he deserved to win.
Most recipients of the award have often said they didn't deserve the honour, that it belongs to greater people than they -- which proves the kind of people they are. One would expect a bit of humility and grace, not attitude, from Morgentaler, upon learning he was selected to join one of Canada's most exclusive clubs.
It should be clear that getting the abortion laws stricken from the books in this country isn't the only reason he was cited. He has done other public service and volunteer work behind the scenes, and for that he should get some form of positive recognition. However, if you start seeing a number of members of the Order turning in their medals in protest, don't be too surprised. An argument could be made that if Morgentaler is getting the medal then so should his arch-enemy, the late Joe Borowski, posthumously -- despite the latter's extremely controversial stances on pornography, abortion and gay rights.
Not that Borowski should, of course; but I wouldn't be surprised if the next thing we hear Tom Green gets the medal too -- and that would really dilute the value of the Order of Canada.
Vote for this post at Progressive Bloggers.
Most recipients of the award have often said they didn't deserve the honour, that it belongs to greater people than they -- which proves the kind of people they are. One would expect a bit of humility and grace, not attitude, from Morgentaler, upon learning he was selected to join one of Canada's most exclusive clubs.
It should be clear that getting the abortion laws stricken from the books in this country isn't the only reason he was cited. He has done other public service and volunteer work behind the scenes, and for that he should get some form of positive recognition. However, if you start seeing a number of members of the Order turning in their medals in protest, don't be too surprised. An argument could be made that if Morgentaler is getting the medal then so should his arch-enemy, the late Joe Borowski, posthumously -- despite the latter's extremely controversial stances on pornography, abortion and gay rights.
Not that Borowski should, of course; but I wouldn't be surprised if the next thing we hear Tom Green gets the medal too -- and that would really dilute the value of the Order of Canada.
Vote for this post at Progressive Bloggers.
Lister Block saved (whoop dee doo)
As late as this past weekend, many in Hamilton thought a deal to redevelop the decaying Lister Block downtown was dead -- and there was anger that a cheque for $7 million from the province of Ontario was going to have to be handed back on Monday. But a strange thing happened and at the last possible minute LIUNA and the city came to terms; and it looks like the plan to turn the arcade into city offices will go ahead with construction starting next year.
If this were any other city, there would not have been any delay and no brinkmanship. A building identified as a heritage site or a target for designation would have been scooped up and negotiations begun straight away with closing within a few months, tops -- and building permits issued the next day.
This, however, is Hamilton. Years ago, the former regional government had the unlikely slogan "We Cut Red Tape." The story goes that when promotional materials were made in German, it was accidentally printed as "We Like Red Tape." Sadly, for the last 35 years it's been the latter. In fact we have even more red tape than places like the Big Three cities in Canada -- and certainly way more than neighbouring Burlington or Mississauga down the highway.
The reason why we can't get any commercial development here is our business tax rates are way higher than just about everywhere else and that winds up reflecting on residential rates; and when new businesses do offer to come here they get the verbal equivalent of water-boarding by city staff who think this kind of business or that kind of factory doesn't fit in with "Hamilton's character," as if this city shouldn't take any risks.
Some time ago, the local BMW dealer noted that he pays as much in taxes as for his dealership in Oakville which is three times larger. The Mercedes dealership is closing not due to lack of business but because of high overhead.
To think that nitpicking over a million bucks in rent almost cost the city a nearly $30 million project is just appalling. The fact some city councillors were having arguments about it at their own dinner tables -- and not just with each other -- shows you how stupid this thing got. We have a great location, pretty good infrastructure and people who want to work. It's just an attitudinal problem both with city staff and with councillors that results in us paying about a third more in property taxes than we should.
In the end, keeping city staff downtown will help. But it's only a first step. Half the Stelco Tower is still vacant. The old BMO building is vacant. The Thompson building is over half empty. No rents or property taxes from them.
And -- here's the kicker -- they want to rezone over a thousand hectares of airport land (the so-called Aerotropolis), when the 200 or so that is already industrial is only about 20% occupied. A base of operations for a couple of courier companies and a sorting facility for a third, and a warplane museum -- but that's it. It's also predicated on twinning the Highway 6 bypass and linking it up with the bypass around Caledonia which is at least ten years away and up in the air due to the Six Nations land dispute. That's smart thinking for you, at taxpayer's expense.
If there's any saving grace, it's now LIUNA and Hi-Rise and not the city that's on the hook for the province's $7 million if this new deal collapses. On the other hand, that's $7 million that could fill up the city's near empty food bank for the next two years.
Vote for this post at Progressive Bloggers.
If this were any other city, there would not have been any delay and no brinkmanship. A building identified as a heritage site or a target for designation would have been scooped up and negotiations begun straight away with closing within a few months, tops -- and building permits issued the next day.
This, however, is Hamilton. Years ago, the former regional government had the unlikely slogan "We Cut Red Tape." The story goes that when promotional materials were made in German, it was accidentally printed as "We Like Red Tape." Sadly, for the last 35 years it's been the latter. In fact we have even more red tape than places like the Big Three cities in Canada -- and certainly way more than neighbouring Burlington or Mississauga down the highway.
The reason why we can't get any commercial development here is our business tax rates are way higher than just about everywhere else and that winds up reflecting on residential rates; and when new businesses do offer to come here they get the verbal equivalent of water-boarding by city staff who think this kind of business or that kind of factory doesn't fit in with "Hamilton's character," as if this city shouldn't take any risks.
Some time ago, the local BMW dealer noted that he pays as much in taxes as for his dealership in Oakville which is three times larger. The Mercedes dealership is closing not due to lack of business but because of high overhead.
To think that nitpicking over a million bucks in rent almost cost the city a nearly $30 million project is just appalling. The fact some city councillors were having arguments about it at their own dinner tables -- and not just with each other -- shows you how stupid this thing got. We have a great location, pretty good infrastructure and people who want to work. It's just an attitudinal problem both with city staff and with councillors that results in us paying about a third more in property taxes than we should.
In the end, keeping city staff downtown will help. But it's only a first step. Half the Stelco Tower is still vacant. The old BMO building is vacant. The Thompson building is over half empty. No rents or property taxes from them.
And -- here's the kicker -- they want to rezone over a thousand hectares of airport land (the so-called Aerotropolis), when the 200 or so that is already industrial is only about 20% occupied. A base of operations for a couple of courier companies and a sorting facility for a third, and a warplane museum -- but that's it. It's also predicated on twinning the Highway 6 bypass and linking it up with the bypass around Caledonia which is at least ten years away and up in the air due to the Six Nations land dispute. That's smart thinking for you, at taxpayer's expense.
If there's any saving grace, it's now LIUNA and Hi-Rise and not the city that's on the hook for the province's $7 million if this new deal collapses. On the other hand, that's $7 million that could fill up the city's near empty food bank for the next two years.
Vote for this post at Progressive Bloggers.
Tuesday, July 1, 2008
Canada Day: A cute short story
It's Canada Day CXLI, or as it's known in Québec, Moving Day. In honour of the occasion, I offer this link to one of my favourite short stories from elementary school, Patrick Waddington's The Street that Got Mislaid. Is it possible such missing lanes still exist in Montréal or the other great cities and towns in this great land of ours we call Canada? I wouldn't deny the possibility.
Vote for this post at Progressive Bloggers.
Vote for this post at Progressive Bloggers.
France stymied by ... Poland
As Nicholas Sarkozy takes over the EU Presidency today for the second half of 2008 today, a rather unexpected (but perhaps not too much) slap came from Polish President Lech Kaczynski who said he's not going to sign the Treaty of Lisbon for now in the wake of last month's rejection of the pact by voters in Ireland.
How this plays into the future of the treaty or whether everyone will have to back to square one yet again is unclear. In the case of Poland (which is on track to adopt the Euro in 2012) there is obvious concern as in Ireland about how their strict anti-abortion laws would be affected; as well the current operating system (the Treaty of Nice) gives Poland a fair amount more voting weight than Lisbon would. The whole issue is at home putting Kaczynski at odds with his PM, Donald Tusk, who wants to push ahead and damn the torpedoes.
In the meantime, Sarkozy is promising to use his six months to try to make the EU more transparent and "democratic" although how he really isn't specific about. He wants the EU to move on reforms in immigration, the environment and agriculture as well as cutting the VAT for restaurants and at the pump. He's also making a point of going to Ireland later this month to talk to people in that country directly over the head of the Taioseach (Irish PM).
That's a good start but the other leaders in the area also need to be more responsive, as voters in now five countries on different issues have clearly demanded. As the world heads into a possibly impossible situation economically, the EU needs to get its act together both for its own sake as well as EU citizens.
Vote for this post at Progressive Bloggers.
How this plays into the future of the treaty or whether everyone will have to back to square one yet again is unclear. In the case of Poland (which is on track to adopt the Euro in 2012) there is obvious concern as in Ireland about how their strict anti-abortion laws would be affected; as well the current operating system (the Treaty of Nice) gives Poland a fair amount more voting weight than Lisbon would. The whole issue is at home putting Kaczynski at odds with his PM, Donald Tusk, who wants to push ahead and damn the torpedoes.
In the meantime, Sarkozy is promising to use his six months to try to make the EU more transparent and "democratic" although how he really isn't specific about. He wants the EU to move on reforms in immigration, the environment and agriculture as well as cutting the VAT for restaurants and at the pump. He's also making a point of going to Ireland later this month to talk to people in that country directly over the head of the Taioseach (Irish PM).
That's a good start but the other leaders in the area also need to be more responsive, as voters in now five countries on different issues have clearly demanded. As the world heads into a possibly impossible situation economically, the EU needs to get its act together both for its own sake as well as EU citizens.
Vote for this post at Progressive Bloggers.
Subscribe to:
Posts (Atom)