The citizen-controlled Ontario Municipal Employees Retirement System (OMERS) is set to invest over a half BILLION dollars — in energy—oil and gas—projects. That should provide some economic stimulus.
And none to soon, given the banner the state-owned, socialism-reliant CBC had playing under one of their FREAK-OUT economic and business news reports today (at left).
So you’d think the CBC would report the story. Of course it’s not government stimulus, which many in Canada have been trained to think (by the media and academia divisions of Canada’s liberal-left) is the only kind of “stimulus” that is available, so maybe you’d be right to think that in order to cater to their viewership and further their particular goals, the CBC wouldn’t report this. The state-owned CBC is reliant on a taxpayer-funded socialism model for its very survival, after all.
But so far, I haven’t heard anything about this in between the CBC’s trash-talking of the capitalist economy and all the blustery Obama-like FEAR MONGERING and the need for government rescue plans and other socialism booster talk.
But… you’d think at least one CBC journalist—maybe a newbie!—would chime in with one of those “Hey! Here’s an angle!” moments if only because it’s a labor union pension plan, which probably supports the socialist you’ve got to be kidding party and its left-wing, anti-corporate agenda, and certainly its anti-oil and gas drilling agenda, that is making the investment. Then again, maybe he did chime in, and is now hiding under his desk checking the hours of operation at another branch of government—the government Employment Insurance office.
The Canadian Press
CALGARY — One of Ontario’s largest public-sector pensions says it plans to invest an additional $500-million to $600-million to pursue acquisition opportunities in Western Canada’s oil and gas sector.
The Ontario Municipal Employees Retirement System, better known as OMERS, also announced it had completed the purchase of Guard Resources Ltd., a private company headquartered in Calgary. …
The CBC won’t report OMERS’ January 9 announcement either—an investment of $50 million in a telecom company.
The [Montreal] Gazette
January 9, 2009
BMV Wireless, a new entrant in Canada’s mobile-phone landscape, has received a $50-million investment from OMERS Private Equity.
The investment group joins two other major investors who also took a $50-million stake in the firm. OMERS also satisfies regulations mandating that major investors in a telecom company be Canadian.
UPDATE: 10:03 AM PT
Nothing on the socialism-reliant state-owned CBC’s oxymoronic (with an emphasis on “moronic”) “YOUR BUSINESS” segment on their “Newsworld” channel, starring Jeannie Lee.
She did mention more self-described calamities in the economy though. And coincidentally, because the economy is so “tanking” (her CBC business reporter-y word!), she did trumpet a yummy report on a slowing of demand for oil. (See banner above left).
• TAKING BETS Part V: Will CBC report it? JazzAir Income Fund grows Q4 profit
• TAKING BETS Part IV: Will CBC report it? Boston Pizza reports strong 2008 growth including 4th qtr
• TAKING BETS Part III: Will CBC report it? Intel to invest $7 billion in manufacturing…
• TAKING BETS Part II: Will CBC report it? McDonald’s sales up 7% in January, along with Wal-Mart
• TAKING BETS Part I: Will CBC report this?—Wal-Mart sales up—even ahead of their own expectations
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