Category: More Money Than Brains

Money For Nothing

Now Wab proposes to hand out tax breaks for “investments” in the Port of Churchill. Newsflash: a 7% cost reduction is unlikely to convince any investor to sink money into a port that’s locked in ice for a substantial portion of every year. It’s doubtful the green lobby will like the idea of ships bulldozing polar bears either.

The province say the new tax measure would apply to proposals for a new energy corridor and liquefied natural gas facilities, upgrades to the railway that runs to the port and icebreaking capacity to support year-round shipping.

Priorities, Priorities…

Canada still doesn’t have a coast to coast four lane highway, but it seems the bigger priority is to subsidize water systems for ratepayers in the oil patch. And then there’s the requisite mention of community centers, as if it were literally impossible for such entities to be financially self-sufficient. The mind boggles….

On Tuesday, the federal government confirmed a contribution of up to $29 million to the North Calgary Water Servicing project, funded through the Direct Delivery stream of the new Build Communities Strong Fund…

…$17.2 billion for provinces and territories, $6 billion for direct federal delivery on regionally significant projects and $27.8 billion flowing to local governments for roads, transit, water systems and community centres.

Fever Pitching

Given what I know about the Canadian political classes, I didn’t expect any of them to call out Blubber Dougie on his renewed advocacy of economic suicide for Canada. But who put duct tape over the mouths of our captains of industry? Any miner that shut off legally contracted mineral exports to the US would be successfully sued in a matter of hours and go bankrupt within days.

“He underestimates Canada. We’re all in,” Ford said. “Up here, we’re at a fever pitch, everyone’s in for an economic war. They know they’re going to have to sacrifice.”

Ford said “everything is on the table” if the dispute worsens, including cutting off electricity and critical minerals from Ontario. He also called for Canada to consider using oil and potash as leverage.

“I’ll cut them off,” Ford said of critical minerals. “You won’t get a grain of sand out of Ontario.”

 

Post-Industrial Society

Ignoring the obvious contradiction in the funding announcement, why are we throwing even more tax dollars at a chronic money loser? There was a time when Canada built plenty of locomotives, but apparently we lost all that knowledge and now need to relearn it. Who knew?

“Locomotive assembly is returning to Canada,” Transport Minister Steven MacKinnon said Wednesday at a news conference in Montreal, where the plant will be built.

Ottawa says the trains will be built by Switzerland-based Stadler. The first nine are to be built in Spain, while the remaining 36 will be built in Canada after Canadian workers learn how to assemble them from their Spanish counterparts.

 

We Don’t Need No Flaming Sparky Cars

The world is has run out of stupid rich people.

Beyond design, Ferrari’s battery-powered, four-door, five-seat Luce has another problem: its price tag – a staggering 550,000 euros, or about $638,660. If Ferrari expects that to open the brand to a younger, broader customer base, management certainly has a different view of the world – one that isn’t grounded in reality.

For starters, Tesla’s Model S Plaid costs only a fraction as much and, on key performance metrics, appears to outperform the Luce. The Model S also comes with Full Self-Driving, a feature we are fairly certain Ferrari’s first EV lacks.

By the end of last week, Ferrari CEO Benedetto Vigna appeared to be on damage-control duty after shares dropped in response to negative investor reaction to the Luce’s design and performance specifications.

And: <em>Let’s not forget that Ferrari hybrids are depreciating faster than their petrol-powered counterparts. </em>

Things You’ll Never See On The CBC

That’s my prediction.

Worried about the impact on the news brand, CBC is pausing production of a “satirical” show that appears to have been attacking conservatives and Canadian institutions. Called Northland Tales, the show is being co-produced by CBC and APTN, though a statement from CBC went to great lengths to stress that it was CBC Entertainment and not CBC News behind the production.

After controversy erupted online about the production using fake names and false pretenses to get people, including retired Mounties, to agree to interviews, CBC has confirmed it is hitting pause while also defending this style of production.

More: RCMP Explodes on CBC as Prank Backfires!

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