 Alberta public pensions being used to prop up struggling carbon industry, union saysProvincial Politics | 207349 hits | Feb 20 7:48 am | Posted by: DrCaleb  Alberta's largest labour organization says public-service pensions are being used to prop up the province's struggling fossil fuels industry at a time when many large investment funds are moving away from the sector.Commentsview comments in forum Page 1 You need to be a member of CKA and be logged into the site, to comment on news. |
Share
|
Mobile
All logos and trademarks in this site are property of their respective owner.
The comments are property of their posters, all the rest © 2025 by Canadaka.net
The comments are property of their posters, all the rest © 2025 by Canadaka.net
Post evidence.
Hard for a shill to do that...I know.
The books are public.
Where? The last report Aimco published was 2018, that I can find.
https://www.aimco.alberta.ca/2018-annua ... rformance/
The Alberta budget, released Oct. 24, revealed these funds were expected to be transferred to the Crown corporation Alberta Investment Management Corporation (AIMCo) for management.
The move was a "hijacking," according to the Alberta Teachers' Association (ATA). The president of that organization, Jason Schilling, wrote on Twitter that making the move without consulting the ATA was "extremely disrespectful."
https://www.cbc.ca/news/canada/calgary/ ... -1.5362076
AIMCo's year end is March 31. As any "Doctor" would have realized within seconds of getting to their public info pages.
But, here you are, trying to play obtuse about it.
Shill be shilling.
Yet, you have no problems making comments on BS claims founded on the same lack of knowledge.
AIMCo's year end is March 31. As any "Doctor" would have realized within seconds of getting to their public info pages.
But, here you are, trying to play obtuse about it.
Shill be shilling.
You mean you knew that information the same as I did?
Pot, meet kettle.
And the information is likely coming from yet another disgruntled insider. In this government, it tends to be the most accurate considering this CBC article is not the first time I've heard this story.
Aimco is pretty good about making crappy investments based on the advice of it's patronage appointee. Losing money in the coal sector seems par for the course.
But for my own investments I repositioned my portfolio and moved from international investments to things that were hurting but that I knew would bounce back and I'm no genius at stocks.
Now I'm up almost 21% from my position on January 1st. It isn't magic.
I am lucky in that my pension is privately managed. But the public workers I work with did not have any choice where their public pension investment went, and likely would not have chose to invest so heavily in the oil sector.
Then they're idiots. If they don't want to follow the money then they should not complain when they lose money on bullshit like solar power, wind power, GLBTQ-managed firms, Palestinian investments, and other lefty-flavored investments.
Firearms manufacturers.