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Chris Cooke's picture

Cash burn, red ink and let’s be sensitive

Tue, 08/02/2016 - 09:18 -- Chris Cooke

Okay let’s review.

Want to know why the economy is in the ditch?

Consider this.

Profit at Huron Web Printing and Graphics was pummeled by electricity costs in June. Apparently there is a little item called global adjustment in our bill and Hydro One adjusted the adjustment to its advantage not mine.

After struggling to go green, burning through nearly $11 million in public money and swimming against the crude oil price drop plastic recycler Entropex went into receivership.

Downtown, the Bayside Mall is hurling toward receivership … again. Likely by August 26.

And at City Hall the cash burn is worse than that of a drunken sailor at a bar on Friday night. We have a busy body integrity commissioner investigating integrity of the mayor to the tune of $100,000.00.

God, give me strength.

Honestly, I’m lost for words.

Kathleen Wynne and her band of bureaucratic misfits think it is okay to charge me more than $47,000.00 for power in a single month. Huron Web only used $4,000.00 worth of electricity last month but thanks to the bureaucratic wizards at Hydro One buying power is right up there with gold bullion and other precious commodities.

When General Motors closes in Oshawa next year with the loss of 10,000 jobs Wynne will blow it off like it is no big deal.

This is a lady with a bloated bureaucracy and a socialist agenda that is blind to her $300 billion debt. Her focus is on underground transportation in Toronto, which she intends to get Justin Trudeau to finance. Thanks to his predecessor Trudeau has available credit. Wynne doesn’t have any.

She lives in a make believe world where government looks after everyone and everything at the expense of the private sector. She knows not from where the cash comes from.

Then there is Entrpoex, a 40 year old plastic recycler that took government hand outs to expand its markets and go green. President Keith Bechard discovered taking government money is easy but going green is hard.

And then the oil price collapsed leaving him burning through cash and swimming in a sea of red ink.

It is unfortunate. It is sad. It is the price paid for trying to do business in the most expensive place in North America.

Which brings me to this.

I received a call from a Sarnia businessman last week reciting the sorry tale of Italio Ferrari. “He’s gone broke twice,” noted the businessman who fears for the future of Bayside Mall.

Ferrari of Wilsondale Investments isn’t talking. Gordon Laschinger formerly of Wilsondale is.

In Court documents filed last month Ferrari accuses Laschiner of defrauding him. Laschinger denies the allegation describing it is “just crap”.

Meanwhile, the future of the troubled mall remains troubled. It is heading for receivership.

And then there are the sensitive types at Sarnia City Hall who want to spend $100,000.00 of my money getting even with Mayor Mike because he yelled at them, questioned their capability and described some of them as incompetent.

Integrity Commissioner Robert Swayze is out of touch with reality. He spent his entire life as a municipal lawyer and doesn’t believe in staff accountability.

The wise municipalities give him the boot. The dumb ones, like Sarnia drink the Kool Aid.

The late Marceil Saddy wouldn’t have tolerated this guy for five minutes. He would have jumped out of the mayor’s chair, told Swayze where to put it, walked back to his typewriter at The Gazette office on Front Street and clarified in print the meaning of the words “where to put it”.

I could be wrong but I don’t think so.

I operate a $17.1 million company with 92 employees, a $4.2 million payroll, $600,000 in power costs, $50,000.00 in property taxes and millions in other expenses.

What could I possibly know about, business, government or people?

Just asking.

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