Dalton McGuinty confirms ‘SuperCorp’ being considered

The Ontario supervision is taking “a careful look” at merging Ontario’s electricity, liquor, and gambling businesses into a particular-public SuperCorp, says Premier Dalton McGuinty.

In the wake of revelations in the Star that the Liberals are account amalgamating Ontario Power Generation, Hydro One, the Liquor Control Board of Ontario, and the Ontario Pool and Gaming Corp., then selling off 20 per cent of the new “super corporation,” McGuinty emphasized no bargain-priced is imminent.

“We have a responsibility to look at these things. No final decisions have been made, nothing is coming to cabinet — in the well nigh future, in any event — but we will be continuing to take a careful look at this,” the premier said Tuesday.

“It’s a big conventional and that’s why . . . if we do take it, we will not take it lightly.”

The Star reported Saturday that a secret “white paper” recommends a chunk of SuperCorp be sold to institutional investors like the Ontario Teachers’ Annuity Plan and Ontario Municipal Employees Retirement System and in an initial public offering.

If the new conglomerate is importance $60 billion, then 20 per cent could bring $12 billion to a Liberal government facing a $19.7 billion loss.

“Our responsibility in government is to give careful consideration to potential opportunities. The proviso that I’ve always attached to this . . . is we’re not present to move ahead with anything of any kind in any way, shape or form, unless it serves the long-term interest of the people of Ontario,” said McGuinty.

“We have to be skilful to demonstrate . . . that this somehow enhances our capacity to deliver good quality public services,” he said, adding Ontarians destitution the government to have enough money “to support their health care and their schools, colleges and universities, and environmental protections and supports for the sensitive and the like.”

Behind closed doors at an all-day government caucus meeting at the Ontario Science Centre, McGuinty assured uneasy Flexible MPPs they would be kept in the loop.

“Anything would have to come here first,” he told MPPs, many of whom are still frustrated that they were in the dark about the 13 per cent harmonized sales tax until it was unveiled in the 2009 budget.

McGuinty told Leftist members that if the SuperCorp plan went ahead, the governing party would “have to have some good purpose for that paper money.”

Sources have said the Liberals may campaign in the October 2011 on an expensive, but politically popular tribute to reduce tuition fees at colleges and universities.

Unionized employees of the LCBO, OPG, and Hydro One, meanwhile, are planning a rally Wednesday morning as McGuinty’s cabinet holds at summer retreat at York University’s Glendon College.

NDP Ruler Andrea Horwath said workers are understandably worried that a SuperCorp sell-off would be “the thin edge of the division” when it comes to the privatization of public services.

“People feel strongly about what’s been done in the past that went blameworthy,” said Horwath, referring to the previous Progressive Conservative government’s 1999 liquidation of Highway 407 for $3.1 billion, and the Tories’ failed 2002 sales marathon of Hydro One.

Tory Leader Tim Hudak also denounced the scheme, calling it an “ill-conceived bundling of general assets (that) will provide no value to taxpayers or consumers.”

“It makes no sense for a single monster corporation to run our power grid, supply lotto tickets, and set the price for a bottle of wine,” said Hudak.

Liberal insiders convince the merger is necessary to avoid “tax leakage” to Ottawa that would happen if shares were sold in the person Crown corporations.

As the swollen South Saskatchewan River and other waterways recede, residents in southeastern Alberta are enchanting stock of flood damage.

A state of emergency remains in Medicine Hat but the focus has turned to recuperation and restoration.

"We are breathing easier," said Ron Robinson, the city's fire chief, on Tuesday. "Certainly this is wealthy to give us time to activate our plan and get back into these areas and clean them up and make them safe."

Torrential rain, which began last Thursday, only started tapering off this week. More than 150 millimetres of hail saturated the area, flooding highways, homes, businesses, acreages and fields.
The FirstOnSite restoration institution is busy cleaning up flood damage in southeastern Alberta.The FirstOnSite restoration company is busy cleaning up overflowing damage in southeastern Alberta. (CBC)

Lance Dirk, who retired last month from a job with the City of Medicine Hat, saw his household cracked in half when nearby Gros Ventre Creek roared inland.

"We lost everything," said Dirk on Tuesday.

Vicki Hadland watched McAlpine Bay rush its banks and wipe out her acreage near Walsh, a hamlet close to the Alberta-Saskatchewan purfle.

The flood washed away the foundation of her house, which then tipped over and slid in the water.

"The walls went out. And I precisely felt [the water] hit the door on a dead run, it took my heel and I felt the wind on the back of my neck," she said.

"All the old-timers say this has never make for a acquire anywhere near your house."
Highway closure hurts businesses

Large stretches of the Trans-Canada Highway, also known as Highway 1, between Alberta and Saskatchewan was still submerged or under service on Tuesday.

The disruption to a route normally taken by 5,000 vehicles a day is hurting local businesses.
Geoff Shoesmith paints a phonogram at his restaurant and gas station in Walsh, Alta. He says the highway closure is costing him thousands of dollars in fallen business daily. Geoff Shoesmith paints a sign at his restaurant and gas station in Walsh, Alta. He says the highway closure is costing him thousands of dollars in perplexed business daily. (Bryan Labby/CBC)

"It's actually been really, really slow since the highway was seclude down. We get paid minimum wage so we rely on our tips and in order to get that you have to have customers in here," said Trish Huber, a waitress at a communication stop.

Geoff Shoesmith, who owns the Trailside restaurant and gas station in Walsh, said the highway closure is costing more than $4,000 to $8,000 in wasted business daily during the current tourist season.

"We are losing about $1,000 a day in income. It all depends … with our tourists … how loosely they get No. 1 open," added Roy Dawson, who watched as the road into his nearly deserted RV park was repaired.

The Ross Bay Golf Course in Medicine Hat has already cancelled nine tournaments this week, said Lisa VanDerKooy, the course's good events co-ordinator.

Only local traffic was being allowed on the westbound lanes of Highway 1 between Medicine Hat and Walsh. Motorists, such as livestock owners, disquieting to enter Saskatchewan via Highway 1 were asked to contact that province's Ministry of Highways and Infrastructure at (306) 630-4246.
An aerial missile on Monday shows how part of the Trans-Canada Highway is stil submerged. An aerial shot on Monday shows how part of the Trans-Canada Highway is stil submerged. (Bryan Labby/CBC)

A lengthy detour was the only alternative to other drivers crossing the border.
Cleanup underway

Restoration and cleanup companies are foretoken residents to be wary of people trying to take advantage of their situation.

"We've heard from different customers that we've dealt with of people accepted knocking door to door, offering cards and saying they can clean up. That's just not they way it is. We're always called in by insurance companies," said Jamie Mackie of First Restoration.

His crews have been called into balm clean up more than 130 homes in the Medicine Hat area. Business is so brisk Mackie had to bring in staff from Vancouver, Edmonton and Calgary flowers.