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Greg “Big Ed” Meeker Profile picture
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7 Nov, 5 tweets, 2 min read
The Pension War Room™️ is piqued at the proposed investment strategy review of AIMCO! This is the real "no shit" moment for Travis.

cbc.ca/news/canada/ed…
@SPhillipsAB has quote of the day with:

"Phillips said Albertans deserve clear communication from the finance minister and open consultation on any potential changes to the investment fund."

Yup. And, we also deserve to know what Kevin has been lobbying Travis on. #ABLeg
And, piling on....
"She said the reported losses revealed weaknesses in the governance and oversight of AIMCo, issues which will not be resolved without improved transparency from the province."

Transparency, governance and oversight at AIMCO are teachers' number primary concern
As you may well have guessed I share the same view.

Governance of the pension portion of AIMCO's business needs to to be transparent and joint. After all the pension plans are joint.

And if new management is needed...well, so be it. #ABLeg
In other news...the AG straight up caught the GOA lying about the crude by rail contracts. The financial details are kept secrets, but even my rudimentary analysis shows the GOA should keep and use the contracts. (They are valued currently at less than transportation cost.) #ABLe

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More from @yomeeks

Greg “Big Ed” Meeker Profile picture
8 Nov
Just so you know I will be retweeting this interview every day. @SPhillipsAB is on 🔥🔥. Parallels in pension policy can not be ignored. No research or shoddy research behind multi-billion dollar decisions. The CPP advice that Exec Council got quotes seriously flawed Fraser Inst.
Travis: "We have a detailed business case prepared to support moving pension asset management to AIMCO." (Neglecting the fact that they are not his assets to move in the first place.)

FOIP release: A marketing brochure written by AIMCO.

THIS IS NOT ANALYSIS. #ABLeg
Then, since no civil servant was charged with an actual analysis (as they very likely substantially disagreed) Travis and Athana sent it out to some mook in BC named Peter Milburn for a positive opinion. #AbLeg

(Athana came from BC and worked with Peter back in the day.) Image
Read 4 tweets
Greg “Big Ed” Meeker Profile picture
8 Nov
The Pension War Room™️ wonders if the AB plutocrats have taken any lessons from the election down south...

I won't comment too widely, people more skilled than me are engaged in the Trumpian autopsy.

Hey Jason the Keystone people are calling... #ABLeg #canwegetourmoneyback
The truth has to matter.

Politicians who stake their lot on populist rhetoric seem to be at odds with the most basic of facts. Dates, time, places and the like. And turn everything into an "us versus them" dichotomy. #ABLeg
Making public policy based on the latest Fraser Institute half-truth is not good. It might get you elected; it won't get you reelected.

We even have our our own Rudy Giuliani cosplayer in Jack Mintz. Where will our Four Seasons Landscaping be? #ABLeg In a feedlot somewhere?
Read 6 tweets
Greg “Big Ed” Meeker Profile picture
7 Nov
This is your daily pension announcement. The AG opens up a can of whoop-ass for @jkenney and Travis! Here is a page from the AG report where an old series of pension recommendations are being stood down.

Smart like fox: this is a warning to the boys! #ABLeg #spankme Image
These recommendations are from when Horner tried to cut public sector pensions. It never happened and Horner was unemployed in short order anyway.

But, the warning is don't unilaterally mess with pensions to punish unions and push your fascist agenda. #ABLeg
Read the recommendations with an eye to what the GOA did to teachers' pensions:

-consult with stakeholders
-do cost/benefit analysis for any proposed changes
-research effects of plan design on employees
none of this was done with Bill 22
#ABLeg
Read 6 tweets
Greg “Big Ed” Meeker Profile picture
1 Nov
This is your daily pension announcement: The Pension War Room™️ attends the Heritage Savings Trust Fund annual meeting. Well, attended virtually because of COVID. If you want to watch it the recording is below. See Kevin stick-handle! #ABLeg

assemblyonline.assembly.ab.ca/Harmony/en/Pow…
The teachers' pension fund came up repeatedly during the meeting, and many thanks to the teachers who submitted questions.

Even though Travis will no longer publicly answer questions about this, it is still a huge issue. #milburned #ABLeg
Watch Kevin in action and you can see if the $2.8 million we paid him was worth it ($3.4 million the year before).

Dale MacMaster the Chief Investment Officer was there as well ($2.9 million last year, $3.5 million the year before).

Dale makes more than Kevin. #ABLeg #nono
Read 16 tweets
Greg “Big Ed” Meeker Profile picture
25 Oct
This is your daily pension announcement: The Pension War Room™️ will dive in to the tailings pond that is AIMCO executive compensation. #ABLeg

Kevin is Alberta's highest paid public servant. It, however, a confusing landscape.
This info is available from their Annual Report. I will compare Kevin (CEO) and the guy that left AIMCO because of the VOLTS mess, Peter (Exec VP Public Eq) #ABLeg
It is important to note that we don't know if Peter left AIMCO with a payout or not (cause/no cause). You might think it would be a no-brainer for cause situation. Don't cast aspersions.

But in this industry separation payments are sometimes made to keep things quiet.
Read 12 tweets
Greg “Big Ed” Meeker Profile picture
18 Oct
The Pension War Room™️ remember! Remember when Travis said:

"Further, I want to emphasize that AIMCo operates independently and at arm’s length from the government, and its only goal will be to serve the best interests of the ATRF as its client." #ABLeg
Remember that the next time Travis appoints new AIMCO Board Members without the knowledge or consent of the clients. What do we do if they perform poorly?

GOA= sole shareholder of AIMCO w/absolute control
also GOA=minority partner in ATRF
#ABLeg
As for the #UCPAGM2020 who just voted in favor of separating from CPP:

calgaryherald.com/opinion/column…
Read 6 tweets

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