Alberta Government Dismisses AIMCo Board Members and Appoints Stephen Harper as Chairman
Alberta’s Pension Fund Shake-Up: A Bold Move
In a surprising turn of events, the Alberta government took decisive action last week by dismissing all ten directors from the board of its pension fund, the Alberta Investment Management Corporation (AIMCo). Alongside this mass termination, the chief executive and three of his senior executives were also let go. This bold move was followed shortly by…
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The UCP government is moving to take control of citizens’ savings — and they should be very worried.
As part of the Fair Deal Panel that Jason Kenney announced on Nov. 9 to "advance our vital economic interests," the repatriation of nearly $40 billion in Canada Pension Plan assets will be explored. Those assets would also be handed over to AIMCo, and they could be an irresistible target for an oil and gas industry that is struggling to attract investment — and a government that clearly wants to help it do just that.
Kenney has clearly signalled his willingness to increase public financing for private oil and gas companies on a vastly larger scale. Last April he committed $7.5 billion in provincial funds to completing the Keystone XL pipeline because TC Energy could not access private equity for the contentious project, a move he boasted was “a solid bet.” International finance experts disagreed, calling the investment an “idiotic waste.”
TC Energy stock has dropped 16 per cent since Alberta pensioners became majority owners in what could be a money-losing climate killer.
Buying a 65% stake in the C$6.6-billion Coastal GasLink pipeline in northeastern British Columbia was the wrong way to invest Alberta’s public pension fund.
Buying a 65% stake in the C$6.6-billion Coastal GasLink pipeline in northeastern British Columbia was the wrong way to invest Alberta’s public pension fund, Adam Scott and Patrick DeRochie of Shift: Action for Pension Wealth and Planet Health argue in an op ed last week for the Edmonton Journal.
The “late Christmas gift”, announced December 26 by the Alberta Investment Management Corporation (AIMCo), “is likely to be a liability due to the financial, regulatory, reputational, and legal risks involved with the purchase,” Scott and DeRochie write.
And pension funds are aware of the threat.
“Many pension funds, including AIMCo, publicly recognize the financial risks of climate change and claim to screen their investments for environmental, social, and governance (ESG) factors,” Scott and DeRochie state. And “if ever there was a project that failed a credible ESG screen, it’s CGL,” based on its environmental risks as well as its failure to respect Indigenous rights.
Airbnb defeats Aimco lawsuit over unauthorised subleases Wed, Jan 03, 2018 - 9:28 PM Airbnb Inc defeated a lawsuit by Apartment Investment & Management Co, one of the largest residential landlords in the US, alleging that the online home-sharing marketplace enables tenants to break their lease agreements through unauthorised sublets.
Sitemize "Judge sides with Airbnb in lawsuit from US apartment landlord" konusu eklenmiştir. Detaylar için ziyaret ediniz. http://acayipbisey.com/2018/01/03/judge-sides-with-airbnb-in-lawsuit-from-us-apartment-landlord/
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Airbnb defeats Aimco lawsuit over unauthorised subleases
Wed, Jan 03, 2018 – 8:10 AM [LOS ANGELES] Airbnb Inc defeated a lawsuit by Apartment Investment & Management Co, one of the largest residential landlords in the US, alleging that the online home-sharing marketplace enables tenants to break their lease agreements through unauthorized sublets. A federal judge in Los Angeles agreed with Airbnb that it’s insulated from the claims… The Business Times
U.S. Crude Oil Imports from Saudi Arabia and Iraq Recently Increased, But May Decline Soon
U.S. Crude Oil Imports from Saudi Arabia and Iraq Recently Increased, But May Decline Soon
By U.S. EIA: Today in Energy U.S. crude oil imports from Saudi Arabia and Iraq, two of the United States’ main sources for imported crude oil, have risen since reaching relatively low points in 2014 and 2015. On a combined basis, crude oil imports from these countries are the highest since late 2012.
The post U.S. Crude Oil Imports from Saudi Arabia and Iraq Recently Increased, But May Decline…
