"The executive committee is proposing that the boards... shrink in size and modify their composition so that members are hired through an open and advertised process run by the city."Can Rob Ford actually pull all the right switches? Can he shunt the gold-plated Gravy Trains onto a siding and cut those overloaded cars?
I guess we'll find out.
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RELATED: Bright lights, big city... bend over
Vancouver shows the rest of us... how the big boys do it...
It's that "Drapeau deal"... all over again.Those losses are the final chapter of a saga in which councillors, staff, and the public were told for years that the city couldn’t lose money on the Olympic Village project no matter what because the private developer had pledged millions in assets.Yeah. Who could have possibly gone wrong taking property in Iran as security?
Mr. Meggs couldn’t say what the original guarantees were from Millennium directors Peter and Shahram Malek.
It turned out that the Maleks’s real-estate holdings in Vancouver and Toronto had so much debt accumulated against them – some of it acquired after they were pledged as security for the Olympic Village loan – that only $45-million in value was left.
NPA Councillor Suzanne Anton that it’s clear now that “due diligence was not carried out on the worldwide assets.”
You truly do get the kind of government you deserve.
Suck it up, Lotus Land.
