NB Power is worth $47 billion - Part 2

Shawn Graham claims that opposition is emotional, not factual. Here are the facts about the proposed sale, plain and simple for all to understand. Enough with his political rhetoric. This presentation was given to a rally in the Miramichi on January 18, 2010, put on by the Miramichi District & Labour Council.

Category:

News & Politics

Tags:

• NB Power
• Hydro Quebec
• energy
• hub
• sale
• deal
• MOU
• Shawn Graham
• BronweN
• Jack Kier
• New Brunswick
• electricity
• selling a business

[catwin6]

TheRealBrownN is this you in the video?

[TheRealBronweN]

@catwin6 Yes. That's me!

[knubldr]

Please explain to me why NBP is unable

to service it's nearly 10 B$ debt if it has an

annual profit of 700m$.

[TheRealBronweN]

@knubldr As per info in the video, NB Power cannot use the $700 million to pay off the debt because Graham's government is siphoning $420 million per year for things like their new "severance package" What a freaking joke!

[schboom]

Good work. I'd like to have the time and business acumen to assess the figures, but a couple of months ago, the auditor general stated that fees and profits rendered over 500 million in 5 years to the government. That was enough for me to consider the deal a joke (I believe it equaled the 'savings' in power rates).

One question, how do we extricate ourselves from the 'power profit instead of taxes' accounting? We can't pay off the power debt without losing a lot of general revenue.

[TheRealBronweN]

The profits that the AG refers to are after such lines in the financial statements as:

Dividend Payment

Payment to Government in lieu of taxes

Finance Charge to Electric Finance, etc.

These are all "legal" and it is not the AG's job to report where they are going, but they all go to the same place.

The AG's assessment is correct, but there is a whole lot more money going to the government from NBP through sneaky routes that we are not being told about. This money will be gone if NBP is sold.

[lime2341]

Good job . One comment I read was you were just a 4th year University student so you don't know all the facts. Well it doesn't take an intlectual to understand that you don't sell your assets to pay off your debts so that you are left out in the cold.

My hat is off fo you. You go girl!!!!!

[TheRiverbendranch]

Now were talking....Graham needs to be fully investigated FULLY..These types of politicians have been raping the working class and underpriveledged for decades...Look at the Millions Sheldon Lee spent building the roads in Bonny River....Sure they needed new roads but WOW what an overkill.....He lived there.

[TheRealBronweN]

@naomijful Hydro Quebec stepped away for reasons other than the actual worth of NB Power. It just shows how gullible you are, naomijful, that you believe the reason Charest gave to the media. HQ stepped away from the deal because they could not legally buy the assets. Legally, and yes, I researched this as well, if they signed the deal, we could just take back the assets at any time. Its called expropriation.

If you are going to respond, get your facts straight first.

[catwin6]

Great Job - I am not educated on this issue, but you answered a lot of my questions.

[cliffdimerandy]

hey mrzooloo FUCK OFF

[jfhanley]

Simple and well put, but my questions to all you NBer's is what are we going to do to stop this?? Obviously the big protest in Fredericton didn't work. We need much bigger, every city and town all at once.. We have to send a message!!