Time to Amalgamate GTHA Transit Authorities and Systems.

In all honesty, it is the Premier and elected members of her liberal political party’s government who are not being fully transparent, as usual, and playing a chaotic game of dodgeball concerning tax increases or new additional taxes for transit!

This editorial opinion, from the Toronto Star, fails to mention the fact that the Premier, her Transpiration Minister, the liberal party and the 23 MPPs, who supposedly were elected to represent the City and others elected to represent the GTHA all have not, had an adult conversation or taken a public position on their preferred tax increases and additional taxes (revenue sources) for funding transit being considered by the provinces own agency Metrolinx?

The legislative authority for such proposed tax increases and new additional taxes is the sole responsibility of the current Premier along with all members of the Provincial legislature and NOT the city of Toronto’s elected career politicians or the non-elected city bureaucrats and technocrats.

These provincial politicians, the Premier and her Liberal party’s scandalous government have once again been revealed as feckless, inept and reckless.

They are the ones who forfeited their standing in the debate on transit expansion and how best to pay for it as they preferred to wait and see what political recommendations Metrolinx makes to them!

And not only in E-health, Orange, Canceled Gas Plants, Energy Policies or the Chemo Drug scandal but now in their refusal to take a stand and advise the voters of Ontario as to their position on any funding proposals (taxes) for the future of regional transit throughout the GTHA regions!

As a Provincial agency, Metrolinx gets its funding from the province and thus is NOT at all impartial to the funding decisions that must and can only be decided by the Province.

Unfortunately for the past 40 years, all political parties and their incumbent career politicians from all three levels of government have mismanaged and failed our cities when it comes to transportation infrastructure and funding.

Further, the current makeup of its Board members that excludes the Mayors from Ontario’s 3 cities within the GTHA makes it politically impossible for this agency to effectively coordinate the region’s transit and transportation needs.

The amalgamation of all the GTHA area public transit authorities, especially the TTC, systems and operations of GO, TTC, Halton, Peel, York, Durham and HSR into one Regional Transit Authority for this region is a must.

This revised Provincial and Federal Metrolinx ( GTHA) Regional Transit Authority must have a Board of Directors that includes 2 elected political representatives from the Province, the Federal government; the Mayors of Mississauga and Toronto. Along with 1 elected political representative from Halton, Peel, York, Durham and the Mayor of the City of Hamilton.

In addition, this amalgamated transit authority would be directly responsible for all public transportation, subways, Go operations, systems, and financing. The GTHA would be under the control of the above elected Board members and directors of a CEO and COO who must have professional transportation qualifications from within the world's private and public transpiration systems and industries.

All three levels of our government elected and non-elected alike must completely once and for all understand that public transit and transit infrastructure must come from a lasting financial commitment in the form of a 1% or 2% transit levy on corporations or a 1% or 2% increase in the GST. 

Such funds must be designated for transit only as per legislation from both the provincial and federal governments. 

 Source
http://www.thestar.com/opinion/editorials/2013/05/12/toronto_city_council_bungles_the_transit_file_editorial.html

REIT a Misrepresented and Bad Investment?

Along with many others, it is my opinion that prospective investors proceed with extreme caution when considering or presented with a non-traded REIT investment proposal.

Non-traded or traded REITs are basically real estate investment trust that has pooled the capital of investors into various forms of income-producing properties structured to regularly generate and distribute cash by unit investors. 

 

All speculative investments including a REIT require that investors be extremely careful as in buyer beware and do their due diligence

Canadian companies most recently Canadian Tire and Loblaws have jumped on the REIT bandwagon to unlock the literally BILLIONS of asset dollars of their property holdings!  

In my opinion, these investments are similar to mortgage-backed securities. And one drawback among others is that once pooled it is conceivable that a company’s most valuable owned real estate properties could be left out of a REIT through lack of regulatory, bureaucratic and directors oversight that could enrich opportunistic financial institutions, traders, lawyers and politicians?

As values of the real asset, in a traded or non-traded real estate investment trust even though they supposedly are of “high quality and in a strategic location,” have been so accredited for their asset values and unit price by the very corporations creating the REIT?  

And then conceivably further endorsed or given a worthy investment rating value by the same financial institutions that are marketing these securities to investors through stock exchanges controlled by the appropriate provincial securities commission.

Who have conceivably acknowledged and confirmed that all of the criteria for regulatory and director approvals have been met for all REIT IPOs for marketing purposes for those investors looking for a higher rate of return or a way to hopefully secure income amidst the erratic market and current prolonged low-interest rate conditions.

Please read more of Peter Beck’s and Simon Romano’s

Canadian Income Funds @

http://www.scribd.com/doc/25919167/Canadian-Income-Funds-Your-Complete-Guide-to-Income-Trusts-Royalty-Trusts-and-Real-Estate-Investment-Trusts

Up to Date

http://www.thestar.com/business/real_estate/2013/05/13/jim_flaherty_says_real_estate_trust_wave_is_not_a_concern.html

"REITs, which receive preferential tax treatment from the government, are companies that invest in income-producing real estate and payout most of their income to investors through unit distributions. They have raised $760 million from six Canadian IPOs this year, including Milestone Apartments REIT and Agellan Commercial REIT, to account for 74 percent of $1.03 billion raised from initial offerings this year in the country, data compiled by Bloomberg show."

"Canadian REITs raised almost $500 million in seven IPOs last year, more than any other industry in Canada, the data show. The Standard & Poor’s/TSX Capped REIT Index soared 165 percent from a five-year low on March 9, 2009, through May 10. The benchmark S&P/TSX Composite Index rose 66 percent over the same period."

Sources:

http://www.sitefind.com/links/REITs/more2.html

http://www.investingthesis.com/equities/buy-sell-or-hold-canadian-reit-ref-un/

http://ca.finance.yahoo.com/news/artis-announces-offering-cumulative-rate-151615802.html

Ontario's $281 Billion Debt, Breach of Fiduciary Duty and Lack of Due Diligence?

Ten years ago the Ontario liberal party’s government took over the reins of fiscal responsibility and power on behalf of their party and the taxpayers were on the hook for $140 Billion Dollars in total Debt.  

Today that total debt has ballooned to $281 Billion of debt and within 3 to 4 years shall reach a projected $300 Billion! 

The fastest expense increase for programs now goes to interest payments for debt, courtesy of this liberal party’s government, and Ontario residents are on the hook for $12. 2 Billion Up from $10.4 Billion!

This profound endless diversion of taxpayer funds, from much-needed Ontario infrastructure programs of public transit, upgrades, repairs and expansions, to pay for this never-ending rise of borrowing and interest on debt servicing costs for unsustainable programs & services will within a year consume 12% of government existing tax revenue sources!  

When the cost of holding on to political party power is motivated through appeasement and carefully crafted budgetary imagery the political party’s government has abdicated the right to govern.    

The finance minister loudly proclaims that “eliminating the deficit is the single most important step we can take to grow the economy and create jobs,” then presents Ontarians with a $1.9 Billion dollar deficit increase? 

In addition to a $3.7 Billion spending increase from $124 Billion to his budgeted projection of $127.6 Billion in one year!

A minimum decrease of $2.9 Billion in spending alone each year for and every year over the next four years in spending alone would be required to eliminate this liberal party government’s deficit that has more than doubled since they gained control of the Ontario government. 

In my humble opinion as a mere mortal, this budget is a sham and yet another breach of fiduciary duty and lack of due diligence on the part of both the NDP and the Liberal Political Parties.

It seems they both continue to set aside any semblance of prudence or good government that political party governments have the legal, moral and ethical obligations to act honestly, in good faith and in the BEST interest of citizens and NOT the self-serving interests of political parties and career politicians. 

 http://news.nationalpost.com/2013/05/02/ontario-budget-2013-2/

Ontario budget 2013

http://timestoronto.blogspot.ca/2013/04/increased-taxes-and-new-revenues-tools.html

Wynne's Liberal Party's Hypocritical Position on Transit Funding Supported by Media

Media Demands Mayor Ford, the Executive and city Council must Speak up on Transit Funding but NOT Wynne and her Liberal Transportation Minister?

The liberal party’s leader and un-elected premier along with her transportation minister both have clearly stated that they both will not now speak up on transit funding for increased taxes or additional tax sources.

As they are the provincial politicians in charge, unlike the regional and city councils and councillors, both politically boast that they do not wish to pre-empt Metrolinx or make any political decision regarding any increased taxes or "additional taxes" that she Wynne, as leader of the liberal party, wants or he as her minister of transportation prefer.

Yet any increased taxes or additional taxes (new revenue sources) are clearly their responsibility as elected provincial officials.  While media outlets all are lambasting Mayor Ford, for taking the exact same political stand off waiting to hear from Metrolinx the provinces transportation agency NOT Toronto councils? 

Our media outlets no longer report just the facts or news but now attempt to sway the public with their biased non political positions, views and opinions by continually supporting and headlining their political party's position at the expense of others through favoring those issues that they and their party wish to have forced upon the electorate and citizens. That is the way I see it in humble opinion as a mere mortal!   

UPDATE INFO on TAXES

The average family with a gross income of 74,113 pays 42.7% for existing taxes.

Based on gross revenues CIBC paid 7.45% in taxes for 2011, RBC 3.3%, in 2012, TD Canada Trust 5.8% and Rogers in 2011 paid $99 Million in taxes on gross revenues of $12.4 BILLION and in 2010 $152 Million is taxes on gross revenues of $12.1 BILLION. (7.9% and 12.6%) 

@  http://www.fraserinstitute.org/research-news/display.aspx?id=19578

Sources:

 1. http://www.thestar.com/opinion/editorials/2013/04/25/toronto_city_council_must_speak_up_on_funding_transit_editorial.html

2.

http://torontoist.com/2013/04/kathleen-wynne-on-the-future-of-transit-in-toronto/

3.

http://m.theglobeandmail.com/news/politics/wynne-signals-taxes-and-tolls-will-pay-for-ontarios-transit-expansion/article10335043/?service=mobile

4.

http://m.theglobeandmail.com/news/politics/wynne-signals-taxes-and-tolls-will-pay-for-ontarios-transit-expansion/article10335043/?service=mobile

5.

http://autos.ca.msn.com/news/canadian-press-automotive-news/everyone-could-have-to-pay-for-gta-transit

Metrolinx Appointed Board of Directors

J. Robert S. Prichard, Chair

·                     Stephen Smith, Vice-Chair

·                     Rahul Bhardwaj

·                     Janet Ecker

·                     Joseph Halstead

·                     Richard Koroscil

·                     Frances Lankin

·                     Marianne McKenna

·                     Nicholas Mutton

·                     Lee Parsons

·                     Rose Patten

·                     Bonnie Patterson

·                     Howard Shearer

·                     Douglas Turnbull

·                     Bruce McCuaig, President and CEO

Taxes and New Revenues Tools on Corporations NOT Joe Citizen?

Let’s Expose the Allies Supporting Increased and New Taxes for Transit on Individuals but not for Corporations or Unions!

Who actually are those behind the move to increase taxes on individual citizens through new additional taxes (revenue tools) as opposed to increasing corporation taxes or taxing Unions?

Is it the average Joe citizen or family taxpayers who currently contribute 23% ($25 Billion dollars) of this liberal political party’s government revenues?

Or corporations, who unlike Joe citizen, currently contribute 9.6% ($10.8 Billion dollars) of this liberal political party’s government revenues?

Political parties are financed primarily by corporations, like Rogers with gross annual revenues of $3.03 Billion, Bell with $19.49 Billion, TD Canada Trust with $23.12 Billion, RBC with $29.8 Billion etc. 

They of course also receive financial support from Unions and yes, Joe citizen as a member of a political party that in reality represents less than 1% of eligible voters at any given time. 

Now keep in mind that the current general corporate tax rate is 11.5% and Joe citizen’s average tax rate in Toronto is approximately 17.52%.

However like corporations there are approximately 34% of Joe citizens who currently DO NOT PAY any provincial income tax or pay less than $10 dollars annually as they are considered the working or non working lower middle class poor? And these proposed tax increases and new revenue sources shall not be levied on them or corporations and large multi million dollar labour unions? 

Not one of Metrolinx’s 11 proposals of additional taxes (new revenue tools) for increased tax revenues suggests or calls for corporations to help pay for any radical future transportation improvements, there James?

Yet we have representative of political parties and their local council supporters along with the would be David’s from special interest groups like Civic Action, Toronto Region Board of Trade, Stintz and her TTC, Businesses and Labour demanding transit taxes be on the table for Joe citizen and NOT corporations and unions? 

The liberal party government at “Queens Park has already committed $16 Billion for transit in the GTHA” and now wants the political help from all regional governments and city councils to put Joe citizen directly on the hook for a further $34 to $60 Billion.

In an attempt to save their political hides while keeping their corporate and union allies from paying their far share of existing taxes and revenues tools before they themselves decide on the issue of increased taxes and new revenue sources. (Joe citizen accounts for 23%, corporations 9.6% http://www.fin.gov.on.ca/en/rates/index.html )

James, the corporate and union giant has already been exposed.

However political parties are not capable of slaying the one that feeds their lust for power, scandals, waste and mismanagement. 

Sources:

http://www.thestar.com/news/city_hall/2013/04/25/we_need_a_hero_to_fight_mayor_rob_fords_tax_dodge_on_transit_james.html

http://timestoronto.blogspot.ca/2013/03/why-do-career-politicians-political.html

http://www.fin.gov.on.ca/en/rates/index.html

http://www.thestar.com/news/gta/transportation/2013/04/24/mississauga_says_yes_to_most_transit_tax_options_and_fie_on_ford.html

To All a Happy Earth Day!

To All a Happy Earth Day!

A highlight of the United Nations' Earth Day celebration in New York City is the ringing of the Peace Bell, a gift from Japan, at the exact moment of the vernal equinox.

Read more @

http://www.earthday.org/earth-day-history-movement

http://earthday.envirolink.org/history.html

A 13 Year Late Bureaucratic Political Reaction that Does Not Address Cause, Fault or Mismanagement.

In my humble opinion as a mere mortal, the Ontario Ministry of Health and the public's elected health minister decided on and signed off on allowing Hospitals to first, outsource this pharmacy work and bulk purchasing without:

(a) Ensuring that any such companies had provincial or federal oversight and

(b) Were registered with Health Canada or would obtain the required necessary federal license?

Secondly, both the Ontario ministry of health and the Hospitals also approved and gave permission to go ahead with the practice of group purchasing of drugs through companies such as Medbury and others approved by Ontario’s Ministry of Health and Hospitals as group drug purchasers! 

Since 1998 all Canadian companies and establishments require a license to package, label, distribute, import, wholesale or test drugs among other restrictions.  What was the Ontario Hospitals role and the Ontario Health Minister’s role in ensuring or not, that Medbury and Marchese had such licenses as noted in the above paragraphs?

According to the Ontario Health Ministry and its Health Systems Accountability and Performance Division it exists to ensures that the strategies and programs that it has oversight for, deliver the intended results by providing expertise to inform the development of strategies and initiatives; guiding implementation of provincial strategies and initiatives; negotiating agreements that enable a sustainable health care system and contribute to achievement of provincial objectives; ensuring that partners and health service providers are held accountable for achieving the best outcomes through their use of funds, and are in compliance with legislation; evaluating outcomes to identify opportunities for future health system improvement, and leading performance improvement initiatives and activities. 

Boy that is a wonderful mouth-full with the attempted escape card of “that it has oversight for”! 

Now let’s see the mix instructions contracts that was drawn up by Medbury as arranged and thus supposedly approved by our Hospitals and the Ministry of Health in Ontario?

Far too many questions remain unanswered or asked and the public deserves an open transparent public debate and judicial hearings at a minimum. 

First people and corporations must all be held criminally responsible for those decisions that first allowed Marchese Hospital Solutions to manufacture chemo drug solutions without being licensed and an accredited pharmacy? 

Secondly when and who was involved in deciding that Hospitals could outsource such chemo pharmacy work without first seeking provincial and federal oversight? 

Thirdly when and by what authority and from whom were Ontario Hospitals given authority and go ahead with the practice for group purchasing of drugs through companies such as Medbury and others? 

Officials in government, Hospitals, elected and non elected representative of the public along with senior stakeholders of Marchese Hospital Solutions and Medbury a group seller of drugs to Hospitals all must be held accountable and if warranted be charged with culpable homicide through criminal negligence in my opinion as a mere mortal. 

As from the beginning of this scandal, it has been far too simple and convenient for all parties to play the blame game as suggesting that Hospitals somehow erred in administering the drug solution provided!  

What proof is there that this happened or was the drug solution diluted by either Medbury or Merchese in the packaging and distribution prior to the Hospitals receipt? 

Further, what are the contract preparation instructions for the solution that the supplier, Medbuy, followed or perhaps did not follow?   

What is the maximum value to their members by driving costs out of the healthcare system that Medbury follows as stated in their mission statement? 

What are Marchese and Medbuy's specific principles of contract participation and compliance with their product manufacturing and product suppliers? 

What are the secret details that remain kept behind closed doors by the Ministry, Hospitals, Medbury and Marchese?

All such information must be made public along with the roles that all parties played in this “colossal sloppiness” and health care blundering that resulted in the deaths of 137 Ontario residents and Canadian citizens.

The public and patients are deeply upset and demand answers from all parties including this liberal government in Ontario whose track record on health care and governing are disastrous. 

Thanks to Diana Zlomislic and Tim Alamenciak from the Toronto Star for their investigative reporting and hopefully they shall continue to probe much deeper into this scandal.

My deepest and sincere condolences go out to the 137 families and their communities who have been traumatized and suffered from these unnecessary preventable deaths.

Source 

http://www.thestar.com/life/health_wellness/2013/04/19/chemo_scandal_health_canada_cracks_down_on_drug_suppliers_operating_without_oversight.html