ICBC: Losses could be $1.3 billion

Re: ICBC: Losses could be $1.3 billion

Postby The Green Barbarian » Feb 6th, 2018, 10:26 pm

Urbane wrote:Where did I say "touche"?


he somehow is confusing you with Glacier. He doesn't understand the difference between your avatars. This is not unusual.
"Socialists sure are a lot dumber today than they were when I was alive" - John Stuart Mill

JT - he's been ready since 2015, to be the puppet of Gerald Butts and the Laurentide Elite.

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Re: ICBC: Losses could be $1.3 billion

Postby jayro » Feb 6th, 2018, 11:08 pm

I'm not letting the NDP off the hook completely after all they created ICBC but.....Let's not forget the fact that the Liberals are the ones that abused it and we are now stuck with the bill. They did nothing to try to fix it so I do give Eby credit for at least implementing a solution and not passing on the costs in terms of a rate increase. Let's also not forget that if the BC Liberals and that idiot DeJong had not taken millions of dollars out of ICBC to "Balance the Budget" We would not be in this mess infact I heard that it was exactly l.3 billion dollars that the BC Liberal government took out.

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Re: ICBC: Losses could be $1.3 billion

Postby Urban Cowboy » Feb 6th, 2018, 11:14 pm

jayro wrote:I'm not letting the NDP off the hook completely after all they created ICBC but.....Let's not forget the fact that the Liberals are the ones that abused it and we are now stuck with the bill. They did nothing to try to fix it so I do give Eby credit for at least implementing a solution and not passing on the costs in terms of a rate increase. Let's also not forget that if the BC Liberals and that idiot DeJong had not taken millions of dollars out of ICBC to "Balance the Budget" We would not be in this mess infact I heard that it was exactly l.3 billion dollars that the BC Liberal government took out.


Doesn't strike you as convenient that that's the figure Eby is working with?

Also don't forget the NDP set the precedent for dipping into Hydro and ICBC funds.

I'm frankly more concerned that ICBC stop the bleeding, by nailing the source of all these claims to the wall. Two biggest culprits are lawyers, and distracted drivers. Neither ranking very high on my list of favorites.
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Re: Eby makes sweeping changes to ICBC

Postby gordon_as » Feb 7th, 2018, 7:19 am

my5cents wrote:
As for the sales tax on the private sale of used vehicles, has absolutely nothing to do with ICBC, they are just the collector of the money, as told to them by the government.

Prior to the implementation of the HST, new vehicles were taxed at 5% GST plus 7% PST. The private sale of used vehicles was taxed at 7% PST.

After the HST fiasco when we BC returned to GST and PST, the Liberal government in it's "wisdom" changed the PST on the private sale of a used vehicle from 7% to 12%. The government's rational was that a new vehicle was taxed at 5% GST and 7% PST = 15%, On the purchase of a used vehicle privately sold there is no GST, so it would only be "fair" to charge a full 12% PST on the purchase of a used vehicle on a private sale.

I think the "fair" part is directed a the "poor" new car dealerships had to charge their customers 12% sales tax and if the Liberals went back to the way the private purchase of used vehicles were before the HST, private sales would only be taxed at 7% and that wasn't fair to the new car dealerships. (strange logic)

So we in BC pay the most of any province for Provincial Sales tax on the sale of used vehicle on privates sales.

Thanks Christy.


I hope you are not suggesting that the New Car Dealers of BC ( huge Liberal donors) and their association (huge Liberal donors) had any influence on how the Liberal government chose to tax used cars.
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Re: ICBC: Losses could be $1.3 billion

Postby gordon_as » Feb 7th, 2018, 7:27 am

Old Techie wrote:
jayro wrote: I heard that it was exactly l.3 billion dollars that the BC Liberal government took out.


Doesn't strike you as convenient that that's the figure Eby is working with?
.


Seems like you are suggesting that the NDP has made up this shortfall in an attempt to discredit the previous Liberal government. Is that what you are claiming ? Yes , or No ? (for the record)
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Re: ICBC: Losses could be $1.3 billion

Postby Urban Cowboy » Feb 7th, 2018, 12:30 pm

I wouldn't go so far as to say "made up" yet, but given that the true amount isn't known yet, it's typical NDP behavior to play to the most drama possible, and the figure presented does just that, since it's what was taken out of ICBC.

Strange there's never any mention made by the NDP, regarding who came up with the plot, to raid crown corporations for general revenue. Might that be due to wishing to avoid the look of blatant hypocrisy, which by the way is way too late to avoid?
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Re: ICBC: Losses could be $1.3 billion

Postby George+ » Feb 7th, 2018, 2:41 pm

Try not to minimize what the Lieberals have done.
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Re: ICBC: Losses could be $1.3 billion

Postby Dizzy1 » Feb 7th, 2018, 3:53 pm

George+ wrote:Try not to minimize what the Lieberals have done.

Like trying to fix the mess the last NDP Government left this Province in? :up:
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Re: ICBC: Losses could be $1.3 billion

Postby Hassel99 » Feb 7th, 2018, 4:13 pm

gordon_as wrote:
Seems like you are suggesting that the NDP has made up this shortfall in an attempt to discredit the previous Liberal government. Is that what you are claiming ? Yes , or No ? (for the record)




I have no idea if OT is suggesting this.

But I will say its a huge possibility that the NDP cooked the books to make it look worse than it is.
or are incompetent.


Example. ICBC Spent $1,000,000,000 on a new computer system in 2016-2018.
How much of that is included in this shortfall? did they amortize it property under GAAP?

BC trial lawyers association says the 1.3b does not add up either
http://www.cbc.ca/news/canada/british-c ... -1.4510214

Sept 17 2017 - 4 months ago.
David Ebby said the projected loss for ICBC was $360m. How that go from 360m to 1300m in 4 months? Under the NDP eye?
http://vancouversun.com/news/local-news ... orp-of-b-c



I don't have the answers but I have more than enough data to make me question his figures.

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Re: ICBC: Losses could be $1.3 billion

Postby George+ » Feb 7th, 2018, 7:36 pm

Saunders School of Business at UBC

Said the NDP has generally outperformed the Liberals...

"On average since 1991, according to the study, B.C. fiscal performance, compared to that of other provinces, has been modestly better under the NDP." And this was before the Liberals last term mess up.

ICBC should be the number one byelection issue..

The Liberals actually accumulated debt faster than any previous govt.

Vote anything but Liberal.
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Re: ICBC: Losses could be $1.3 billion

Postby Urban Cowboy » Feb 7th, 2018, 8:41 pm

Hassel99 wrote:
gordon_as wrote:
Seems like you are suggesting that the NDP has made up this shortfall in an attempt to discredit the previous Liberal government. Is that what you are claiming ? Yes , or No ? (for the record)




I have no idea if OT is suggesting this.

But I will say its a huge possibility that the NDP cooked the books to make it look worse than it is.
or are incompetent.


Example. ICBC Spent $1,000,000,000 on a new computer system in 2016-2018.
How much of that is included in this shortfall? did they amortize it property under GAAP?

BC trial lawyers association says the 1.3b does not add up either
http://www.cbc.ca/news/canada/british-c ... -1.4510214

Sept 17 2017 - 4 months ago.
David Ebby said the projected loss for ICBC was $360m. How that go from 360m to 1300m in 4 months? Under the NDP eye?
http://vancouversun.com/news/local-news ... orp-of-b-c



I don't have the answers but I have more than enough data to make me question his figures.


:up:
Well stated and I agree totally.

I'd go with misrepresenting the books, to make things look worse than they are for political gain, and incompetence is just a given bonus sort of thing.
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Re: ICBC: Losses could be $1.3 billion

Postby George+ » Feb 8th, 2018, 7:34 am

Even the Lieberals have had to admit ICBC is a mess.

They borrowed from ICBC to pretend a balanced budget.

Now we will all pay one way another.

ICBC is the issue in the byelection.
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Re: Eby makes sweeping changes to ICBC

Postby my5cents » Feb 8th, 2018, 10:50 am

gordon_as wrote:I hope you are not suggesting that the New Car Dealers of BC ( huge Liberal donors) and their association (huge Liberal donors) had any influence on how the Liberal government chose to tax used cars.


What !, You think,,,,, you think,,,, the car dealers had something to do with this ???? What !

Next you'll be saying that when the Socreds (the old name of the Liberals) axed the provincial testing stations programs in the '70s, which had been a huge thorn in the side of all car dealers, (imagine having to get tested 200 cars on your lot) that that had something to do with the relationship between the Car Dealer Assn and the Socreds/Liberals.

No, no, no, no, the Liberals bumped up the 7% tax on the private sale of autos to make it fair. You see there were some private individuals selling cars as undeclared businesses, commonly called "curbers" and they only had to charge the 7% so to fix that every British Columbian has to pay and additional 5% every time a used car is sold, no matter how many times it is sold.

How do I know that ? Because that's what they said.

The bonus ? They did the bidding for the Car Dealers Assn, no doubt solidifying years of generous donations and the additional 5% ? They haul in (back when it started) $50 million a year. Win Win ! Yay.....

https://globalnews.ca/news/438936/used- ... n-april-1/

To the great "unwashed, schmoes" who buy second hand vehicles...... You are in a different class from Liberals. They run with the "new car crowd".

It's all "Mind or Matter"

The Liberals don't mind and you don't matter.
"The power of accurate observation is commonly called cynicism by those who haven't got it"

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Re: ICBC: Losses could be $1.3 billion

Postby gordon_as » Feb 8th, 2018, 11:36 am

Ok , so I've decided against buying a used car. Think I want a nice new one , probably a Prius , cause deep down I'm a closet environmentalist. Also because I heard I can get a $5000 government rebate. Just wondering , how much did the government invest in the rebate program , and how do I get the rebate ? Can I buy a Prius in Alberta and get the rebate here ? Who do I contact to get the $5000 , who's in control of that government money ?
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Re: ICBC: Losses could be $1.3 billion

Postby my5cents » Feb 8th, 2018, 11:52 am

gordon_as wrote:Ok , so I've decided against buying a used car. Think I want a nice new one , probably a Prius , cause deep down I'm a closet environmentalist. Also because I heard I can get a $5000 government rebate. Just wondering , how much did the government invest in the rebate program , and how do I get the rebate ? Can I buy a Prius in Alberta and get the rebate here ? Who do I contact to get the $5000 , who's in control of that government money ?

The Prius is a hybrid with a smaller battery system, you only get $2500.

Guess who's "working along side the Government of BC",,, yup the NCDA (New Car Dealers Association of BC)

https://www.cevforbc.ca/
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