Wednesday, December 9, 2009

Shock Therapy For Hydro Ratepayers -- A Commentary

From The Montreal Gazette:

The global economic meltdown might be nothing more than a distant memory for captains of industry but the same cannot be said for ordinary consumers.

Business leaders need to remember two important things about consumers. First, they have not bounced back from the devastating economic crisis triggered in 2008.

And, second, they have not forgotten the spectacle of company leaders helping themselves to extravagant bonuses while company shares, pensions and payrolls evaporated.

Read more ....

My Comment: The sentence that caught my eye was the following ....

A hike of a single cent could mean as much as $2 billion more in income for the province, at a time when Quebec's debt is headed toward $146 billion.

A provincial debt of $146 billion dollars .... for a province like Quebec this is disastrous.

On a side note, there is no mention of Hydro Quebec's debt, a debt that also runs in the mega billions.

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