Ontario Municipal Employees wag ENERSOURCE dog





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Uploaded on Oct 3, 2007

MISSISSAUGA WATCH: http://www.mississaugablogs.com/​Miss...

A Mississauga News article "City, Enersource clash over board salary", by Joseph Chin contained the following tidbit: "....OMERS (Ontario Municipal Employees Retirement System), which owns Borealis..."

Yeah. THAT Borealis.

So, if OMERS (Ontario Municipal Employees Retirement System) owns Borealis that means that Mississauga Staff own Borealis. Right? Like the-Staff-you-see-on-the-Rogers-​Wednesday-telecasts-of-Council--that Staff?

And when you Google "Borealis OMERS"?

Found this:

"Who is Borealis Infrastructure?

Borealis Infrastructure originates, structures, finances and manages investments in infrastructure assets on behalf of OMERS, a leading Canadian pension fund, and offers co-investment opportunities to third-party investors."

Borealis is just another name for OMERS Municipal Employees Pension Fund. So bottomline, Mississauga's 10% Enersource partner is OMERS (Staff). Anyone else sniffle a whiff of conflict of interest wafting subtly from Big Yellow?

I have to wonder how councillors feel finding out that a consultant was hired behind their backs and against their wishes --in a UNANIMOUS vote by the new Enersource Board. That'd mean the councillors on the new Board of Directors had to vote against City Council. In fact, the Councillors on the Enersource board--that'd be Iannicca, Corbasson, and McFadden--voted for the mandatory pay cut in April, but once comfortably seated on the Enersource Board, they supported the motion to defy Council! (McCallion is also on the Board but was interestingly absent.) It gets worse.

Not a single Board of Director Councillor or the Mayor told her/his out-of-the-loop fellows what had gone down on that first meeting of the new Enersource Board on May 11th!


And it'd never occur to Corbasson, Iannicca or McFadden --and definitely not McCallion--that by hiding this from their colleagues, they've made purebogusMOCKERY of the "Trust" in "Trust Quality Excellence".



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