The Daily Twigg: BCIMC's costly burn in Sino-Forest stock crash shows pension funds better kept close to home
By John Twigg
There ARE MANY WAYS THAT AN ECONOMY CAN BE MADE TO GROW without adding to debt to taxes and lots of them are in a category that could be called "Eliminating False Economies Left By The Campbell Liberals" - of which their stupid investment in Sino-Forest is a prime example.
The B.C. economy could be greatly improved if BCIMC was directed to invest more of its fund in safe and secure activities here in B.C. andless in dubious gambits in far-flung locales. In fact they ARE doing some of that, such as snapping up asset-rich Timber West Forest when its share prices fell so low, but a lot more could be done. Think, for example, how many mills could be running now if BCIMC had kept its investment at home instead of offshore!
Enough is enough! Let's keep B.C. pension funds here at home where they can be safer and more productive and useful.