Is Jim Carr, Minister of Screwing Up Industry talking about Bombardier or Kinder Morgan?
It’s a trick question, he said that about both. Last year McParland wrote the following hilarity that he got so very wrong:
The most ludicrous assertion offered in the wake of TransCanada’s announcement was Natural Resources Minister Jim Carr’s claim that it was solely a “business decision” that had nothing to do with the government. Yes, the decision was made on a business basis, but in the face of a regulatory and approval process put in place by a government more devoted to favoured voting groups than to the development and expansion of one of Canada’s most crucial economic interests.
The government of Prime Minister Justin Trudeau is more concerned about Quebec, environmentalists and Indigenous communities than it is about the potential fallout of lost investment and a moribund energy industry.
Don’t slap your knee too hard, you might bruise it, especially after you consider that Trudeau has committed no less than $4,500,000,000 of our taxes to Kinder Morgan so they get bonuses, which are a “business decision” according to Minister of Screwing Up Industry Carr. After the TMX is twinned, we’re on the hook for $15Bil. Oh goody.
The bonuses would give Kinder Morgan Canada president Ian Anderson and Trans Mountain vice president David Safari $1.5 million each in extra pay if they remain in their jobs until July 2020.
Would someone like to share how big the bonuses are for Bombardier executives after the federal bail-outs for their industry? Or, how big were they for General Motors after the 2008 financial crisis and their bail-out?
An official familiar with the GM deal told National Observer that the paymaster would have prevented the type of bonuses offered by Kinder Morgan. The source, who asked not to be identified, said that the paymaster also made it more challenging to recruit and retain top executive talent.
The Canadian government sold its shares in GM in 2015, before a general election, allowing then-finance minister Joe Oliver to balance the federal budget with proceeds from the sale. But taxpayers lost $3.5 billion on the bailout, the Globe and Mailreported in 2015.
Oh, so the Minister of Screwing Up Industry could have stopped the Kinder Morgan bonuses if he wanted to or cared about managing our gift to KM responsibly.