There are just so many
stories that I have read recently that I want to let you know about.
Unfortunately, there are probably too many to publicize given the number of
articles that I write so that I probably do not have the opportunity to let you
know about all of them.
Here though are those that
I find extremely interesting and thought that I should point out to
you.
WFCU FINANCIAL
POSITION
I happened to go to the
website of the Windsor Financial Credit Union recently and I saw what their
financial position was over a number of years. Take a look at this Report to its
Members on its website. I was rather surprised by it considering the loss provisions made. I wonder which loans they lost ie
individuals' loans or business ones or both:
"Net income from operations
before final allocation to the total loan loss provision, unrealized gains and
income tax for 2015/2016 totaled $5.034 million compared to the previous year
total of $5.05 million. However, your
Board of Directors on a recommendation of Executive Management adjusted the
provision for losses on loans by an additional $4.35 million, which resulted in
a net income before unrealized gains and income taxes of
$684,000."
Here are some loan
provision links to its comparisons over previous years:
"In thousands of
dollars:
2016
2015
Provision for losses on
loans $6,329 $1,087
Net income for the
year $617
$4,345
May 31 Year End Balances
(000’s)
Income Before Distribution
To Members
2016 2015 2014 2013
2012
$2,006 $5,765 $5,092 $5,431 $4,788
I wonder what the results
will be like this year.
WHAT IS A PROPER SALARY
HERE
This is clearly a difficult
question to answer. Should the salary
for someone who works in our area be the same as that of a person who does a
similar job but lives in a City where costs are much higher?
I must admit that, when I
was first hired by my new employer in Windsor, the salary I received was lower
than the one that I had when I lived in the City of Toronto and worked for a
different company. Nevertheless, I moved down here. I did so frankly because it
was so much cheaper to live here than in Toronto that I wound up in a pretty
good financial position even with a lower pay amount received that
year.
Here is what was written in
a Star article recently that may help explain some of the financial difficulties
that our region is now experiencing:
"Local health agencies see
skyrocketing administration salary costs
Windsor’s community health and social service agencies — which
often run cash-strapped operations — have seen their management ranks and
salaries balloon over the last decade, leading some to question whether the
amounts are sustainable.
The Windsor-Essex Health
Unit, Children’s Aid Society, Canadian Mental Health Association and Erie St.
Clair Community Care Access Centre are agencies where leadership ranks have
notably jumped and those at the top end are now earning more than $200,000
annually.
“This is not sustainable
and not affordable,” said Alfie Morgan, University of Windsor business professor
emeritus. “These people are all on our tax bills, and how much can we
afford?”
However, this is not
unique. There are other salaries some Government people receive as well that
might raise some questions. Take a look at this story to see how well some of
them now do and you can wonder if it will continue:
"Windsor councillors, mayor
earn nearly $200K for sitting on boards
Councillors divvied up a
combined $112,265.89 in board payments — a total of $11,226.60 each (CBC News April 4, 2017)
Windsor councillors and Mayor Drew Dilkens earned nearly
$200,000 for sitting on various boards in 2016, with the bulk of that money
coming from their work with EnWin and the Windsor Utilities
Commission.
Councillors divvied up a
combined $112,265.89 in board payments — a total of $11,226.60 each, while
Dilkens received $82,230.93. Councillors shared in nearly $90,000 from sitting
on the boards of EnWin and WUC while Dilkens took home nearly
$60,000."
What do you think about
this story as well:
"Councillors, mayor spent
more than $57K on travel in 2016
Mayor billed $28,125.27 in
travel and business expenses (CBC News, April 6, 2017)
Windsor Mayor Drew Dilkens
and city councillors spent more than $57,000 on travel in 2016 with the mayor
accounting for nearly half of the spending.
City councillors spent a
total of $29,197.93 attending conferences across Canada and the world, traveling
to destinations including Rome and Germany.
Dilkens embarked on 15
trips for a cost of $28,125.27. Those expenses do not include about $3,000 in
registration costs that were picked up by Your Quick Gateway, the city-owned
entity in charge of Windsor Airport."
Somehow, I just don't see a
reduction coming forward very soon.
WHY DID THEY MOVE FROM
WINDSOR
Hmmm. I did find these moves something to think
about:
"Retirement didn’t last
long for Bruce Montone — just weeks after bidding farewell as chief of Windsor
Fire & Rescue, he’s taking over the boss’s office at Amherstburg’s fire
department.
“We heard his contract
there was expiring, and we talked him into coming to Amherstburg,” said Mayor
Aldo DiCarlo…
It’s become a bit of a
trend.
Amherstburg’s current fire
chief, Al Reaume, took on that role after retiring as Windsor’s deputy chief in
2015. Lee Tome became Amherstburg’s assistant deputy fire chief after retiring
as Windsor’s chief fire prevention officer." (Doug Schmidt, Windsor Star, April 7, 2017)
It seems to be happening in
that town more times than one would expect:
"It’s becoming obvious what
we’re doing — we keep taking all the best from Windsor,” DiCarlo
joked."
I just wonder how often it
will happen now in other towns and for other jobs. Will working for the City of
Windsor be becoming less popular these days and will we see more of these kinds
of job transfers?
A 5 YEAR ARTICLE OF
MINE
I happened to be looking at
articles that I wrote around this time over the last few years and found one
that I posted on April 9, 2012 ie 5 years ago.
Really, has anything every
changed in this fight between the Government of Canada and the Ambassador Bridge
Company? All that we have really seen is a decade-long attempt by the various
Governments on both sides of the river to take over the Ambassador Bridge from
the Moroun Family. So far, they have been completely unsuccessful and probably
always will be. I do believe that they assumed that they could scare the Morouns
into selling out, and at a cheap price, but have found out that this will not
happen.
"THE MISSING
LINK
What is missing from all of
this? Canada is investing in the West, investing in the East, building up our
trade routes in the South. We are interested in the Trans-pacific Partnership,
trying to forge an alliance with the European Union and increasing our
visibility in Latin America.
The missing link obviously
is the North, from Canada. The place where most of the trade between Canada and
the United States takes place. I’m talking obviously about the Windsor/Detroit
corridor and in particular the Ambassador Bridge.
The Central crossing in
Canada is the prime responsibility of our Prime Minister. Is it any wonder that
Prime Minister Harper said this:
“He described efforts by
Ambassador Bridge owner Matty Moroun to maintain private control over North
America’s busiest trade corridor as “ludicrous.
“My understanding of the
private owner’s position is that he not only owns the bridge, but somehow owns
the broader crossing,” he said. “Of course, we don’t accept that. It’s obviously
public space.” (Dave Battagello Windsor Star April 4, 2012)
But the Central crossing in
Canada is more than Windsor/Detroit and includes the Blue Water Bridge and the
Peace Bridge. Who is the big problem for Canada at those other crossings as
well: the Moroun Family. As I wrote once before:
“The story is not just
about Windsor/Detroit. It includes the Blue Water Bridge that Canada is also
trying to sell off—except they cannot do it because Moroun’s bridge is their
biggest competitor and he takes a huge amount of business from them. PLUS he
wants to build a new bridge in Buffalo to compete with the Peace Bridge which
Canada also opposes. PLUS Canada opposed his management of the Detroit/Windsor
Tunnel.
This is all part of
Canada’s “Corridors and Gateways” policy. Believe it or not , Canada has tried
for 50 years to take over the Ambassador Bridge—it started under Diefenbaker and
was most aggressive while Herb Gray was in Government until the recent turn of
events under both the Federal Liberals and then the
Conservatives.”
If you now look at the
Windsor/Detroit crossing in this context – – Canada trying to control trade into
and out of the United States to gain jobs and to mitigate against any further
American protectionism – – then you will have a completely different perspective
on what the border file is all about. Now you know why Matty and anyone who
supports him must be crushed."
To be direct, I just don't
understand why the Governments will not do a deal with the Morouns today, no
matter what it is, so that tomorrow they will be able to buy the entire bridge
from the Moroun family at the appropriate time and for the appropriate
reasons. Everything that has been going
on by the Governments for so long is so laughable and so foolish considering the
harm for the border crossing in this area.
When will this silliness
ever stop!"
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