Andy Willis of the Mail and Globe got it wrong again in his article today about BFI’s reversion back to a corporation. Andy describes BFI as having “proven skills at turning garbage into cash”.
Meanwhile Andy has proven skills at turning facts into garbage with his statement of:
“In a sector that's consolidating, BFI is effectively blocked from doing large takeovers - which means acquiring additional garbage dumps - due to the two-year-old federal tax rules on trusts.”
Andy darling. Do you even know what you are talking about when you put pen to paper?
There is nothing “effective” about BFI ‘s being “blocked from doing large takeovers”. You are truly remiss. Flaherty’s legislation EXPLICTLY prevents BFI from doing large takeovers. Slight difference!
BFI’s growth in being artificially constrained by Flaherty and those mindless minions in the Department of Finance under a set of Central Planning Politburo rules known as the Capital Insertion Rules that severely restrict the ability trusts like BFI from doing “large takeovers” or growing at their historical rates of growth. Apparently someone in Ottawa thought that was a good idea.....certainly not in keeping with “leveling the playing field”
It appears at the time these Capital Insertions Rules were put in place to EXPLICITLY restrict the ability of BFO to grow, namely October 31, 2006, there was another set of rules put in place at the Mail and Globe, called the Bogus Information Insertion Rules......these rules apply to all articles written by the Globe on income trusts.....only maligning and misleading information is fit to be printed, lest the truth emerge about the gross incompetence of Jim Flaherty and his CTV Bell Globe Media friendly bespoke tax policy.
Tuesday, August 19, 2008
Posted by Fillibluster at 8:29 AM