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Hydro One and First Nations

Hydro One and First Nations

Dear editor, Premier Kathleen Wynne sells Hydro One stocks at a loss to First Nations — the share value is $26.10, but Wynne sells them for $18.00 so if you discount 15 million shares x $8.10 that would equal $122,500,000 profit for First Nation people before the ink dries. So in reality, Wynne sold 15 million shares for

Dear editor,

Premier Kathleen Wynne sells Hydro One stocks at a loss to First Nations — the share value is $26.10, but Wynne sells them for $18.00 so if you discount 15 million shares x $8.10 that would equal $122,500,000 profit for First Nation people before the ink dries.

So in reality, Wynne sold 15 million shares for $137,500,000 to buy the First Nations vote?
Next up, will the teachers unions to get discounted stock and will other unions to get the same deal? Is Wynne buying votes to secure a Liberal victory next election?
I thought Ontari-owe was broke but I guess with Wynne’s bank of Ontari-owe we have lots of money left in our pockets to fund the Bank of Ontari-owe through higher taxes and fees and new taxes and fees and higher hydro rates. Also a $100 million transmission line intended to bring electricity into Ontario from the United States is not delivering any hydro because of a Six Nations land dispute in Caledonia, Hydro One is unable to complete the last couple kilometres of the power line according to a CTV news article.

The people of Ontario have paid more than $50 million in interest on top of the cost of the transmission line in which Bob Chiarelli our former energy minister stated is unfortunate but it just the price of doing business. Also I would like to note Premier Wynne gave the OPG and Hydro One unions a $111 million loan to buy Hydro One stock and to secure their support in the sale of Hydro One.
Ross Ayotte

Smiths Falls, Ont.

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  • Jim Douglas
    August 6, 2016, 4:47 pm

    First Nations can not sign with a producer of any sort that is a CORPORATION. We derive a 1/3rd benefit from existing set ups and if a BAND COUNCIL and CHIEF sign anything, it is on behalf of the TRUSTEE and not the beneficiaries and therefore not in law. Do any of you comprehend what I am pointing out? Hydro One did not ask my permission nor did the Six Nations CHIEFS ask this Chippawa Chief if THEY might engage themselves outside the TRUST! Answer is No! No to separate deals which jeopardizes the original agreements made in 1763 and no to self serving BAND CHIEFS and THEIR cronies who are serving a self interest only. I have not flipped. I do not speak with a political correctness but that language and $2;35 will get you a coffee and donut.

    REPLY
    • Jonathan Garlow@Jim Douglas
      August 10, 2016, 8:13 am

      Hi Jim, I haven’t had a cigar in a quite a while.

      REPLY
      • Jim Douglas@Jonathan Garlow
        August 10, 2016, 7:02 pm

        Aunni;
        I stopped by and had one yesterday. Chris and son are going
        fishing this week-end. Spent last 2 days in Six Nations with Bill. Passed by your place around 4:30 today but didn’t want to disturb anyone. Are you up for a “lack of a better word” petition signing?

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