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I watched original The Corporation and watched “The New Corporation” on @CraveCanada today. If you care about the state of affairs un your world watch it! thenewcorporation.movie & agree with @terry_truchan & @Shratno to just watch it... sharing my takeaways in what follows 1/12
Beware of Corporate branding that uses “friend & ally” brand messaging “we are a good company” we’re innovating to help you etc ... this could be big corporations simply white washing their brand to conceal their true agenda 2/12
Another one to watch out for is “our business has innovated & solved this problem” & then they take over government operations & lobby 4 deregulation edicts creates a monopoly for them i.e. Alberta’s privatizing Alberta Registries department with exclusive 35 yard contract 3/12
This is your daily pension announcement: Well, more frequent because of recent events. Read this article. Why was this only published in the East.... hmm chain newspaper... #handsoffmypension #jasoncausedarecession #noireallymeanit
Jack Mintz is a smart person and a decorated academic. I have heard him speak several times mostly about CPP enhancement and I met him once. I don't always agree with him, but I do agree that he is intellectual honest.
So Jack writes this article about how the JK proposed Alberta Pension Plan upon CPP pullout would be a great idea. Except in doing so he provides all the evidence against putting ATRF assets with AIMCo. #suckandblow #ABTeachers
This is your daily pension announcement: I have a nightmare every night. It goes like this: AIMCo is in the Minister of Finance's ear telling him a whole bunch of untruths about saving money by moving ATRF assets to AIMCo. #handsoffmypension #noireallymeanit
So many of you are coming back from meeting your MLA with "this will save each teacher $500 per year". Not true. In my nightmare AIMCo under-performs by 1% each year which costs teachers and the GOA a full $200 million each and every year. #ABteachers #whocausedarecession
Let me explain where the $500 dollars "savings" allegedly comes from. AIMCo has said they can reduce investment costs of ATRF assets by 0.2% of assets an almost $20 billion dollar plan. That is $40 million saving split equally between the contributing GOA and teachers.
So from the official Finance spokesperson the motivation for switching investment managers is: “reduced investment costs and, therefore, higher expected investment returns.” Straight up admission that AIMCo can’t provide a better gross investment returns. #abteachers
Their impact would be by reducing costs and therefore (hopefully) increasing the net investment return. Sorry this is going to be a long thread. #abteachers #ABbudget
I will say that AIM Co would probably be able to reduce investment costs by maybe 5 basis points.
I will say that AIM Co would probably be able to reduce investment costs by maybe 5 basis points.
Success would then be predicated on AIMCo returning at least the same gross return as ATRF. Doubtful. Highly doubtful. Highly speculative. I will work on an analysis of ATRF returns vs LAPP (managed by AIMCo). Unfortunately, it is complicated by different year ends and the like.
