Chief executive officer Mayo Schmidt is Hydro One’s $6 million man
Is anyone really surprised by this article?
https://www.thestar.com/news/queenspark/2018/03/29/chief-executive-officer-mayo-schmidt-is-hydro-ones-6-million-man.html
I think the article above was well written by the way, it begins by calling Hydro one
“the former Crown corporation partially privatized by Premier Kathleen Wynne’s Liberal government two years ago.”
Which is absolutely correct, crown corporations get away with this stuff because they’re subsidized, that’s how it works. Now the only reason he was caught was because Ontario is in more debt than California. But the reality is this stuff happens all the time in various forms when a private company in Canada get’s crown corporation status. It’s common sense really, if a corporation will get a bailout from taxpayers if it’s business model is flawed why shouldn’t this crown corporation behave badly? why shouldn’t a crown corporation be a little corrupted? A crown corporation will get bailed out no matter what. We’ve seen it with the CBC, we’ve seen it with Canada Post.
Those higher ups in these crown corporations don’t have to be physically responsible, they don’t have to watch the numbers or worry about competition the only thing these crown corporations have to worry about is not being “too blatantly corrupted” where they draw national attention. That’s the only requirement of being a crown corporation. Competition is non existent, foreign competitors need not bother apply unless they want their profits to be subject to an artificial tax or inflation dictated by the crown corporations of Canada.
Why is the telecommunications sector in Canada non competitive? Well Via Rail Canada is a crown corporation and being that profits may not be where they need to be, via other companies that remain under it’s umbrella it’s important that companies under Via Rail Canada do what’s best to maintain their shares in industries that remain profitable and unchallenged by the mainstream media or voter. Thus unless a national outcry is voiced the telecommunications sector in Canada will remain uncompetitive… uncompetitive on a global scale of course, locally people will only know they’re being ripped off if they have the time to ask questions and/or research what other countries are paying for the exact same service.
All of this ties into Mayo Schmidt $6 million dollars, his potential mistake is that he’s operating in a province that’s bankrupt. The good news for Mayo Schmidt might be that people still believe the lies being spewed by the Ontario Liberals. It’s this lie that Ontario has an unlimited supply of money that’s allowing these scams to continue. It’s important to know that people in PERSONAL DEBT behave differently than do people not in personal debt. People in personal debt don’t want to rattle things or complain, because they fear their government overlords will take their presents and treats from them.
Yes I’m a conservative but like Milton Friedman I accept the current times for what they are. My opinion has little chance of reaching the hearts and minds of Ontarians. Many Ontarians are content in their current situations, telling themselves well.. it could be worse. These same people may also already be dependent on a growing government to keep them alive.
The only way to wake up people is an economic crash. People get conservative when the gravy train can’t leave the tracks. That’s where I think we are in Ontario now, a crash is coming but nobody knows when,. I don’t think people get it. People are retiring every day in Ontario! These retired people expect to be taken care of. The only way to take care of these people will be to raise taxes… being that costs to operate a business can’t come down with minimum wage increases, prices will have to go up for everything, while more jobs are being automated, which also means fixed incomes are going to buy less. Most people can’t see the disaster coming.
How many rights will Ontarians give up to maintain this gravy train? I’m honestly not sure! But this article should tell Ontarians that something in our economic system is broken.