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?
A week or so ago @jkenney said he was going to urge Ottawa to crack down on political lobbyists registered as charities. He unwittingly described the Fraser Institute. Their charitable status has been used to lobby IN FAVOR of second hand smoke. #AbLeg #crackdown
The job creation tax cut has been a contronym. Roughly half the jobs destroyed in AB were before COVID, the others were because of COVID.

That $4.7 billion sure would have been helpful to pay for our COVID related healthcare.
And then to think you can pull the wool over the eyes of the Auditor General with some accounting tricks.

I will leave this right here, just as oil companies have earned the right not to pay property tax....…

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More from @yomeeks

10 Nov
This is your daily pension announcement! I was going to spend today's installment educating about "material misstatements" and other things that would get a corporate exec fired. No need just read this..... #ABLeg
I have said before, and I say again, Travis is financially incompetent. He is not able to understand the concept of risk adjusted rate of return. Or, the idea that a pension fund with a higher return might cost you less in the long run.
Just the mere thought that some bush league tricks would fluff up the the dire UCP financial performance and outwit the AG is ridiculous.

Capitalists never do socialism well. It only ends up as graft for cronies. Sturgeon refinery needs its own inquest. See toryland. #ABLeg
Read 4 tweets
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.

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
7 Nov
The Pension War Room™️ is piqued at the proposed investment strategy review of AIMCO! This is the real "no shit" moment for Travis.…
@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
Read 5 tweets
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
Read 6 tweets
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…
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
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

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