Ontario strikes deal to sell Hydro One shares to First Nations

[mentalfloss]

Woah.

Very good news!


Ontario strikes deal to sell Hydro One shares to First Nations

First Nations in Ontario will get the chance to buy shares in Hydro One, a public utility the Liberal government has partially privatized.

The government says it has reached an agreement in principle with the province’s First Nations to loan them up to $268-million to buy up to 15 million shares at $18 per share.

That is above the province’s book value, but below the $24-to-$26 range the stock has been trading in recent months.

For the deal to go through, at least 80 per cent of the band councils will have to approve the agreement by the end of next year.

If ratified, Ontario would sell the shares to a new investment vehicle owned collectively by First Nations and provide seed capital of up to $45-million over three years.

Energy Minister Glenn Thibeault says in a statement that this would give economic development opportunities to First Nations across the province.

Thirty per cent of the utility’s shares have already been sold, and if 15 million shares are sold to the First Nations, it would represent another 2.5 per cent.

Ontario strikes deal to sell Hydro One shares to First Nations - The Globe and Mail

 

[IdRatherBeSkiing]

What is the repayment plan for this 'loan'? I guess it doesn't matter, if they were smart they would flip it immediately on the open market to make a $6/share profit.

So when have you been such a fan of privatization Flossy?

 

[mentalfloss]

I'm not.

 

[lone wolf]

So when, with all these crazily inflated bills and rip-off deliveries, do the REAL owners - THE PEOPLE OF ONTARIO - get returns on their investments?

 

[coldstream]

Sir Adam Beck established Ontario Hydro to be held by ALL of the people of Ontario.. and to produce power to meet its long term needs, AT COST, in perpetuity.

That pathetic lesbian Premier of Ontario has completely usurped that to turn it into a profit making enterprise who will thrive by limiting access and gouging consumers and undermining the province's industrial economy.

Putting this turgid politicallly correct spin on such a cynical enterprise simply goes to show the corrosive effect of homosexuality on one's reason, judgement and morals.

 

[lone wolf]

That was half-way Harris' intent - before he felt the wrath - but he left the door open and the machinery broken when he baled out. Then it became the looters' turn. Robbery isn't a sexual preference thing. It's a greedy bastard thing.

Which one bit you?

 

[coldstream]

. It's a greedy bastard thing.

As i said it affects judgement, reason and morals. And i agree that the political climate of Ontario and Canada has been rotten for well over a generation. It just took someone as confused and degenerate as Wynne to bring it into full decay.

 

[lone wolf]

Which ... greed or homosexuality?

 

[coldstream]

bit of both.. immorality is seldom limited to one dimension.

 

[Walter]

ON citizens pay a lot more for electricity than a lot of areas that have power generated by private concerns. If the Indians can make this work, good for them.

 

[Angstrom]

imagine if everyone go's off grid in the next 15 years.

 

[lone wolf]

You'll be getting delivery charges and collection problems with no product delivered

 

[Curious Cdn]

All of that "stewardship of the land" crap will evaporate overnight and you'll have a small hydro dam on every little crick in the province. I'll be like the special "oneness with the land" income that they derive from putting up billboards all over reserves that border highways.

 

[lone wolf]

Dam's a bit safer than a U-nuke plant....

but Princess Pinwheel want to sell windmills

 

[10larry]

So when, with all these crazily inflated bills and rip-off deliveries, do the REAL owners - THE PEOPLE OF ONTARIO - get returns on their investments?

Good question.

Also wonder if any mention of caledonia came up? The sweet deal offered suggests any costs from that first nations rebellion have been forgotten, after all that was on daltons' watch and he fled so why dwell on his i$$ues?

 

[lone wolf]

ON citizens pay a lot more for electricity than a lot of areas that have power generated by private concerns. If the Indians can make this work, good for them.

I'd love to see someone make SOMETHING work if Wynne is within arms length of it

 

[petros]

Woah.

Very good news!

Yeah, Theresa Spence is going to be CEO.

 

[Jinentonix]

Yeah, Theresa Spence is going to be CEO.

Chief Embezzling Officer?

 

[10larry]

Proof positive political position holders are clueless, as this dire situation stares him in the face his position.... dah what crisis?
Energy minister in the dark over number of Ontarians struggling with hydro bills | Globalnews.ca

 

[Tecumsehsbones]

Sir Adam Beck established Ontario Hydro to be held by ALL of the people of Ontario.. and to produce power to meet its long term needs, AT COST, in perpetuity.

That pathetic lesbian Premier of Ontario has completely usurped that to turn it into a profit making enterprise who will thrive by limiting access and gouging consumers and undermining the province's industrial economy.

Putting this turgid politicallly correct spin on such a cynical enterprise simply goes to show the corrosive effect of homosexuality on one's reason, judgement and morals.

Hearing you praise state ownership of businesses shows the corrosive effect of Catholicism on one's sanity.