ICBC: Losses could be $1.3 billion

Re: ICBC: Losses could be $1.3 billion

Postby alfred2 » Feb 23rd, 2018, 3:26 pm

George+ wrote:So, would Christy so she...
Bankrupted the system!

She left the new unelected government a couple billion surplus,why did they not use that money to put into icbc and start fresh, is it too much common sense or did they blow the money on their debt, and give parties money. :biggrin: :200: :smt045 :up:
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Re: ICBC: Losses could be $1.3 billion

Postby seewood » Feb 23rd, 2018, 3:59 pm

alfred2 wrote:She left the new unelected government a couple billion surplus,why did they not use that money to put into icbc and start fresh, is it too much common sense or did they blow the money on their debt, and give parties money.


I understand by law any surplus's have to be used to lower the accumulated debt. This was done with the $2.? billion surplus.

Someone correct me if I'm wrong here but was the last provincial debt(s) the first 3 years of Gordon Campbell's mandate. Saw a clip recently where the libs had budgeted 3 years? of deficit to get BC out of the previous NDP's total mismanagement of public funds.
If so, in effect, last years surplus went to pay down some of those deficit budgets?
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Re: ICBC: Losses could be $1.3 billion

Postby flamingfingers » Feb 23rd, 2018, 3:59 pm

The 'surplus' was required by law to be paid in reducing the debt the ChristyLiberals left.
Why do people who fancy themselves "fiscal conservatives" not scream at hidden debt accumulated in the past dozen years? Or, do they only object to spending on social programs?
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Re: ICBC: Losses could be $1.3 billion

Postby Urbane » Feb 23rd, 2018, 4:06 pm

    flamingfingers wrote:The 'surplus' was required by law to be paid in reducing the debt the ChristyLiberals left.
No. The "debt" wasn't all created from 2011 to 2017 by the "ChristyLiberals." The debt has accumulated over a long time.
"Spectemur agendo"

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Re: ICBC: Losses could be $1.3 billion

Postby my5cents » Feb 23rd, 2018, 6:06 pm

Surplus ?

Research BC Hydro debt. Alone that accounts for around $80 Billion.

The Liberals were the best government we've ever had, that is if you're talking creative bookkeeping.
"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 Urban Cowboy » Feb 23rd, 2018, 6:08 pm

I've observed how some of you calculate debt. That in itself is "creative".
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Re: ICBC: Losses could be $1.3 billion

Postby grabreck » Mar 2nd, 2018, 5:04 pm

Frazer Institute sums it up perfectly. Check it out.
www.fraserinstitute.org/article/given-r ... atize-icbc
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Re: ICBC: Losses could be $1.3 billion

Postby CapitalB » Mar 2nd, 2018, 5:11 pm

grabreck wrote:Frazer Institute sums it up perfectly. Check it out.
http://www.fraserinstitute.org/article/ ... atize-icbc


Because their unbiased. What with them taking money from:
The Koch Brothers
ExxonMobil
In 2012, the Vancouver Observer reported that the Fraser Institute had "received over $4.3 million in the last decade from eight major American foundations including the most powerful players in oil and pharmaceuticals". According to the article, "The Fraser Institute received $1.7 million from 'sources outside Canada' in one year alone, according to the group's 2010 Canada Revenue Agency (CRA) return. Fraser Institute President Niels Veldhuis told The Vancouver Observer that the Fraser Institute does accept foreign funding, but he declined to comment on any specific donors or details about the donations."


Seems like a good impartial source advocating for whats best for the average british columbian for sure.
Their definitely not putting out a position that'll benefit the wealthy elite most of all. /S(arcasm)

PS: I'm strongly expecting some kind of exception made for this. In comparison to all the hate protesters get on here for taking money from american companies
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Re: ICBC: Losses could be $1.3 billion

Postby Merry » Mar 3rd, 2018, 9:06 am

I wish there was a law forcing "think tanks" such as the Fraser Institute to publicly list where they get their funding from at the end of each report they publish. Such a law would, of course, apply to BOTH left and right leaning "think tanks", and would help the folks reading the information have a better perspective regarding the underlying opinions (and potential bias) behind that information.
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Re: ICBC: Losses could be $1.3 billion

Postby Cactusflower » Mar 5th, 2018, 1:53 pm

http://www.cbc.ca/news/business/truck-i ... -1.4557422
Has anyone in B.C. 'gone public' with similar stories about ICBC? And if not, why not?
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Re: ICBC: Losses could be $1.3 billion

Postby The Green Barbarian » Mar 5th, 2018, 1:59 pm

Merry wrote:I wish there was a law forcing "think tanks" such as the Fraser Institute to publicly list where they get their funding from at the end of each report they publish. Such a law would, of course, apply to BOTH left and right leaning "think tanks", and would help the folks reading the information have a better perspective regarding the underlying opinions (and potential bias) behind that information.


The CCPA does list their list of donors on their website:

BC Federation of Labour
BC Government & Service Employees' Union
British Columbia Teachers' Federation
Canadian Association of University Teachers
Canadian Labour Congress
Canadian Union of Public Employees
Canadian Union of Public Employees (BC Division)
Eden Conservation Trust
Health Sciences Association of BC
Hospital Employees Union
Manitoba Government Employees' Union
Manitoba Teachers' Society
Nova Scotia Government Employees’ Union
National Union of Public and General Employees
Public Service Alliance of Canada
Saskatchewan Government Employees Union
United Food and Commercial Workers
Unifor
United Steel Workers


What a surprise. The hard-working dues-payers are the ones kicking in to these fraudsters. Is anyone surprised that the garbage reports the CCPA churns out are all heavily left-wing biased? Why doesn't the Manitoba Teachers Society keep their donations and lower their annual dues instead?
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Re: ICBC: Losses could be $1.3 billion

Postby Merry » Mar 5th, 2018, 2:09 pm

Thank you for the list GB, but I'd like to see such lists attached to every report put out by such think tanks, on both the left AND the right. Because reading a report without understanding their potential bias is not a good thing.

If people are to decide for themselves how much credence to give to a particular point of view, it's important that they understand who funded the research that led to that particular view.

Knowing the source of the funding doesn't necessarily mean that the report is inaccurate, but it does help one consider the possibility of bias when deciding what might be fact, and what might be merely opinion.

Just listing donors on a website is not adequate, because most folks don't bother to go check the website for such information. An addendum attached to the report would be much more effective.
"In a world swathed in political correctness, the voting booth remains the final sanctuary where the people are free to speak" - Clifford Orwin

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Re: ICBC: Losses could be $1.3 billion

Postby oldtrucker » Mar 5th, 2018, 2:24 pm

Cactusflower wrote:http://www.cbc.ca/news/business/truck-insurance-repairs-sgi-1.4557422
Has anyone in B.C. 'gone public' with similar stories about ICBC? And if not, why not?


In 2011, I had a "sports car" that was appraised at $15,000. It got rear ended by a BC gov't vehicle. ICBC gave me $3900 for it and told me that I had the right to take it to court if I didn't agree to that price. I couldn't afford to rack up a big legal bill and they knew it. Totally ripped off. I didn't go public with it.
Some would view my above politically incorrect opinions as 'harsh' and may even be offended by them...That should just about cover why some nations are laughing at how soft and weak we have become.
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Re: ICBC: Losses could be $1.3 billion

Postby my5cents » Mar 5th, 2018, 3:04 pm

Cactusflower wrote:http://www.cbc.ca/news/business/truck-insurance-repairs-sgi-1.4557422
Has anyone in B.C. 'gone public' with similar stories about ICBC? And if not, why not?

This story of how an SGI insured had his "total loss" vehicle repaired without his knowledge has a whole bunch of holes in it.

He's told it's a total loss, but waits for two months without getting paid out ? No replacement vehicle to drive ? Nothing ? He doesn't sign anything ?

Boy this guy is patient.

This sounds like a "contract repair". The insured would be given the choice to have the vehicle written off or repaired by the shop on contract. (In other words they agree to fix it for a certain price, no matter what hidden damage they find)

When there is a lot of damage, insurance companies would much rather write vehicles off, than have them fixed. Much less hassle.

It seems in this case the shop was an accredited SGI shop. If this happened in BC, and it was repaired at an ICBC accredited shop, ICBC would require that the shop fix it properly, or they would not pay and would go back to option #1 of writing the truck off.
"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 Cactusflower » Mar 5th, 2018, 3:51 pm

oldtrucker wrote:
Cactusflower wrote:http://www.cbc.ca/news/business/truck-insurance-repairs-sgi-1.4557422
Has anyone in B.C. 'gone public' with similar stories about ICBC? And if not, why not?


In 2011, I had a "sports car" that was appraised at $15,000. It got rear ended by a BC gov't vehicle. ICBC gave me $3900 for it and told me that I had the right to take it to court if I didn't agree to that price. I couldn't afford to rack up a big legal bill and they knew it. Totally ripped off. I didn't go public with it.


You should have, and so should everyone else who feels they've been ripped off by ICBC......or ANY insurance company. Most Canadians are just not aggressive enough when it comes to defending themselves.
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