Stephen Rees's blog

Thoughts about the relationships between transport and the urban area it serves

The loan story just keeps on going and going …

with 3 comments

You might recall that this story started with Gary Mason in the Globe and Mail. He now has some more reaction to some of the shennigans over the last few days.

Basically he is saying that neither side has covered themselves in glory – and indeed he is remarkably even handed in his criticisms of both sides. Of course he is also the only one who knows who leaked the story – and of course he is not saying. Good journalists protect their sources. But he does seem to cast some doubt over the presumption that he has seen the copy of the report that Peter Lander says he left on the table in the meeting room and that later turned up on the desk of B C Lee. Or does he?

Anyway, he now has a series of Very Good Questions – but somehow I doubt that either side will be in a hurry to answer any of them.

The politicians haven’t been nearly as forthright with the public as they should have been either before or after details of the loan came out.

And on that front, Vision Vancouver has just as much to answer for as the NPA.

Written by Stephen Rees

November 12, 2008 at 3:59 pm

Posted in politics

Tagged with ,

3 Responses

Subscribe to comments with RSS.

  1. On the news last night, at the debate, Ladner said that City Council authorized up to $100 million, that only $30 million had been actually loaned to date and that negotiations are still ongoing. Essentially, the leak has screwed the City’s negotiating position, because Millennium now knows that $100 million is available and they’ll seek the maximum available.

    Ron C.

    November 13, 2008 at 11:46 am

  2. Like RonC said… everyone seems to overlook the fact that the City, when involved in real estate deals, needs the advantage of privacy like any other entity. If we had to wear our position on our sleeve (or on the front page of the paper) in every negotiation – we would get some pretty lousy deals.


    November 13, 2008 at 1:03 pm

  3. Why does Peter Ladner think it is hard to negotiate with a company that can’t meet its financial obligations, has frozen its projects in Nanaimo and West Vancouver, and is required to seek loan guarantees from Vancouver taxpayers? Is it because Millenium is threatening to not complete the project (aka extortion)? Allen Garr does a good job of pointing out the serious problems with this development:


    November 14, 2008 at 1:55 pm

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: