Scripturient: Dividends for dummies

A dividend, as defined by the Business Dictionary, is “A share of the after-tax profit of a company, distributed to its shareholders…” This is reiterated in the description from the Oxford Dictionary: “A sum of money paid regularly (typically annually) by a company to its shareholders out of its profits (or reserves).” So in order ...

Scripturient: Saunderson announces another tax hike

At Collingwood Council, Monday night, Deputy Mayor Brian Saunderson revealed The Block’s plan to foist its third tax hike this term on residents. Despite the report on the town’s financial situation by the interim CAO’s pet consultant that warned Collingwood is already overtaxed, Saunderson and his Block plan to raise your taxes AGAIN this term. ...

Scripturient: You’ve been duped. Again.

Remember all those blithe assurances from The Block that they were only “kicking tires” and “just exploring our options”? Well, there’s a story in the Connection that shows just how much you have been conned by your elected representatives. It’s titled,”Collingwood to continue utility sale negotiations with unnamed bidder.” Read that headline again. Pay attention ...

Scripturient: Council is privatizing our utilities

Collingwood council and its administration are planning to privatize both our water and electricity utilities. All, of course, without consulting you, the public. Some members of council have even stated – with a straight face, mind you – they would ask for your input at a later date. A date long after it’s too late ...

Scripturient: The PowerStream deadline looms today

Big day for Collus-PowerStream today: the deadline for acceptance of PowerStream’s sale offer for the remaining share of our utility expires this afternoon. And of course Council will finally deal with it at the special meeting called for noon, today, mere hours before it expires. Nothing like waiting until the last moment. They’ve had a ...

Scripturient: Collingwood’s own Gong Show, part 2

As promised, here is the second part of the Gong Show analysis from December 12th’s council meeting. Like I said earlier, it’s perhaps more like a Keystone Cops or Abbott and Costello skit than the TV show. As always, you can follow along on the Rogers Community TV broadcast, starting at 2:16:30. Laugh aloud at ...

Scripturient: Collus share bid received

My sources tell me PowerStream submitted a bid to purchase the town’s share of the Collus-PowerStream utility, late on Friday, December 9. While the amount was not stated, I am told it is a “very fair” bid. This is so far going as I predicted in my earlier post. PowerStream paid $8 million cash for half ...

Scripturient: Stumbling towards the utility’s demise

This week, Collingwood Council met in a special meeting to discuss an request from its utility partner, PowerStream, to waive some conditions of the shareholder agreement. This meeting appears to have been called by the interim CAO, which seems to me to usurp the mayor’s authority, but we know the administration – in partnership with ...

Scripturient: Those pesky costs The Block forgot to mention

Who sends out your water bills? Collus-PowerStream. It’s all part of the shared services agreement. Yes, that simple little agreement that for 15 productive, cooperative years linked our water and electrical utilities with mutual resources. That same agreement The Block dismantled and handed over to the interim CAO two years ago to rewrite and update. ...

Scripturient: 552 kWh? We can do better

I received a report in the mail from Collus PowerStream giving me an overview of my electricity usage for the one-month period of August. A hot, humid August that no doubt had us running the air conditioner and ceiling fans more often than we normally do (we actually like it warm most of the time). ...