Friday, August 22, 2008

Once Upon a Time..

Property values will skyrocket along the Canada line.

This is news?

This is the story of Canada. This is the story of highways and railways since Rome.

Now what would bea real story is if some enterprising reporter for one of our dailies could reveal who knew, who was told, who bought under numbered companies the devalued properties just before the announcement of construction.

Now that would be a story.

1 comment:

Light Rail Guy said...

But David, SkyTrain and RAV have never been about good public transit, rather it has been all about property development.

When the original SNC Lavalin/SERCO consortium went for the private banks for funding for their share of the P-3, they were laughed out of the bank. Simply the international banks have good experience with transit P-3's (Dublin's LUAS and Nottingham's new LRT, which both operate at a profit - AFTER PAYING THEIR ANNUAL DEBT SERVICING CHARGES!) and saw RAV for what it was, a politically driven white elephant.

Campbell & Co. and to pillage the private sector pension plans to launder through InTransit BC to SNC (SERCO has since disappeared) to full-fill the P-3.

This means if SNC walks, the BC taxpayer picks up the tab - some P-3.

One of the minor bank involved Quebec's Caisse de depot, one of the so-called private investors in the Canada Line (Quebec public employee pension fund) owns a major shopping mall company which just so happens to own Oakridge Centre, Richmond Centre, Metrotown and Guildford Centre, site of a future Expo Line expansion under the Provincial Transit Plan.

What can I say, the BC taxpayer has spent nearly (including RAV) $8 billion, providing rapid transit to shopping malls!

No wonder we are the transit laughingstocks of the world.