Rubes with pockets to be picked
Salaries have risen dramatically for years at BCi, the province’s public pension funds manager. Current and future pension beneficiaries are treated as rubes with pockets to be picked. The amount…
bcIMC
The Gravy Train accelerates
BC Investment Management Corporation (BCI), the public pension fund manager in this province increased compensation costs by 30% per dollar of funds managed in fiscal year 2017-2018. It already paid…
Not-Net-zero, on steroids
In 2016, the BC Liberal Government boasted that its four year program of executive salary restraint “demonstrates the effectiveness of ongoing measures to increase affordability, transparency and accountability in public…
Investing our money in companies that kill us
BC Gov't pension managers invest over $125 billion without any stated plan to invest ethically. #bcpoli #climatechange — Norm Farrell (@Norm_Farrell) November 3, 2015 BC Gov't pension investment managers placed…
Wheels of justice turn slowly
The legal processes may be slow but that provides years of opportunity for people devoid of morality and ethics to speculate in stockholdings of the merchants of death. In the…
Farrell with Jessop, CFAX1070 August 13, 2015
The audio file below is a recording of my time with Ian Jessop August 13. We talk about bcIMC, provincial debt and other matters. Your browser does not support this…
Executive sweet
Thousands of BC government employees lost jobs to privatization and service cuts. Even more lost income through reductions in employment and pension benefits and, with efforts to reduce public services…
Public service: a rewarding career
This is a small piece of information learned in my recent examination of business in Norway. In the article Two Oil Economies, I mentioned Norway’s Government Pension Fund Global, the…
In the land of Not-Net-Zero
Teachers were advised about a year ago that their pension contributions were rising again because the plan had an unfunded liability of $855 million, up from $289 million two year…
The states of state affairs
Comparing remuneration of senior public officials in Washington State to BC counterparts can leave one astounded. The most obvious examples are at the publicly owned investment management agencies and the…
Numbed by numbers
I’ll be talking with Ian Jessop, Monday June 9, on CFAX1070. While the BC Government lays seige to public education, it seems a good time to see if all the…
Norm on CFAX1070 with Ian Jessop 3/31/14
Gadget Google – Lecteur multimédia de Google – http://www.liens-du-vin.ch/google-audio_player-script.htm
Not a puffball comparison
A Vancouver Sun article recently offered a few outdated items about salaries paid to executives of the British Columbia Investment Management Corportion (BCimc). It was a public relations piece devoid…
FYI
The tobacco industry is being sued by Canadian provinces that aim to recover more than $100 billion in healthcare costs associated with tobacco related illness. British Columbia is one of…
Pushing back on the pushback
Anonymous reader argued through earlier comments that comparisons between BC Investment Management Corporation and Washington State Investment Board are inappropriate “apples and oranges.” The person attempted to justify huge increases…
A billion here, a billion there, pretty soon, you’re talking real money
Was the Royal Bank of Canada hurt by public consternation about exporting jobs, importing foreign workers and telling tall tales about the actions? Only slightly, and only briefly, as their…
BC`s unethical investments not smoking hot
BC Investment Management Corporation may come to regret its rush to invest in big tobacco firms. After adding shares in eight of nine tobacco stocks in fiscal 2012, bcIMC had…
Pro-media: watchdogs or lapdogs?
Katie Hyslop has a worthwhile piece in The Tyee about the British Columbia Investment Management Corporation. Teacher Decries Pension Plan's 'Unethical' Investments, The Tyee, Nov. 13/12 " Hutcheson started researching…
SNC-Lavalin & BC Liberal commonality
A reader of the piece about BC Investment Management Corporation's holdings in unethical companies asked if the agency has a relationship with SNC-Lavalin Group Inc. Unfortunately but not surprisingly, it…