Tuesday , October 19 2021

How did Doug Ford contribute to Hydro One's ’Six-Million Dollar Man Doug?


The epic of ül Six Million Dollar Man Dolar was cast in the Hundred Million Dollar Manhole.

This showed Doug Ford's expensive campaign stunt, how much money was reduced at the discharge in Hydro One, resulting in a $ 103 million killing price. For such cheap slogans, the counter never worked so hard, the counter is still working on the lawyers' bills.

Our fearless and fearless success was always the fantasy of television, as the electricity transmission vehicle of Ontario (undoubtedly excessive) could ignite the CEO without generating financial results. By managing your business risk with political ignorance and personal inadequacy, when you're involved in your incompetence, you're ready for what you do.

This starts with the costs (and opportunity costs) of CEO Mayo Schmidt, who delivers a $ 6 million annual compensation but leaves its generous stock options at the expense of its costs. This is a tremendous wealth transfer that we do not take anything beyond the temporary satisfaction of publishing a pink slip.

Revenge is a remedy for past complaints. Jealousy is not a substitute for strategy.

Dean French, Ford's chief of staff, broke all communication lines between the two sides. Sitting in the hands of the Ford team, our state transfer service was transformed into a zombie company for several weeks, insufficient to build a lame duckling board led by the CEO's former waterman.

Pushing Schmidt, Ford launched a chain reaction to the northwest of the US. The regulators were reviewing the $ 4.4 billion take-over of Avista, Hydro One's regional charity. Written remarks that the government of Ontario only behaved as a passive investor in Hydro was clearly in conflict with the appeal of Ford, who wanted the regulator to step in.

Thus, the commissions for the killing of Hydro One and the investment banks involved in the financing of the agreement will add more than $ 150 million. I'm not talking about big legal bills.

When withdrawal into damage control mode, the prime minister's election issued a written statement about the campaign style rhetoric six months after the election was over: son I never apologize for hiding my words to voters. We are reducing the hydro ratios. Hidro

Apart from the cessation of Schmidt's transferred salary, there is no more shaving than a portion of the monthly invoices. Killing fees and paying over $ 150 million in lawyer bills will cost the company more.

For what? Is it our pleasure to cut or provoke our noses (or the tinned ear of Schmidt)?

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It is tempting to blame the prime minister for our hydroelectricity. However, this will give you once more simplicity on the hyperbola stack surrounding Hydro One.

Since the beginning of the privatization mission led by Kathleen Wynne, the former premier, the program was strangely curse. Although I claim to be against him – too risky for so little reward – I've never lost any sleep in the partial sale of our transmission lines (largely passive being) and I've effectively controlled a share of 47%.

However, I never expected the success of the new Democratic Party to stimulate public antipathy, largely due to brand pollution: Most people combined Hydro One with the former Ontario Hydro. Power Generation (still owned by Queen's Park).

The Progressive Conservatives, who have long been demanding privatization, have easily reversed themselves before the elections to participate in the NDP crusade for full public ownership. On the campaign path, Ford emerged as the populist chief of the province, making concessions to Schmidt's art rhetoric with voters and conquering the NDP.

But Ford's bumper sticker slogan için The Six Million Dollar Man ’and the new road signs that have announced Ontario için Open for Business,’ reflect the fact that this Progressive Conservative government is bad for business and bad for Hydro One's balance sheet. Ford's pro-business rhetoric did not deceive the commercial press, which interfered with the government's corporate governance, intervened in the recruitment and dismissal of senior executives, and stating that it was ready to break up signed commercial contracts to achieve political points.

If the Liberal or NDP government had already tried half of the uprising undertaken by the PC, the private sector would raise the screams of bandits and Bolshevism. For the Tories, they are forever buffered by their right-wing rhetoric with their historical proximity.

But their performance shines more and more to afford the distinction between maladroit, conservatism and competence. Management punishment is not a way of managing a company, nor is it a way of managing a company.

Martin Regg Cohn is a Toronto-based columnist with Toronto politics. Follow her on Twitter: @reggcohn

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