FloatnFly Posted February 29, 2016 Report Share Posted February 29, 2016 http://www.ottawasun.com/2016/02/28/open-letter-from-kevin-oleary-to-kathleen-wynne To: Kathleen Wynne From: Kevin O’Leary Re: New Cap and Trade Slush Fund Hi Premier, just saw you are setting up a new $1.9 billion cap and trade fund that you and Finance Minister Charles Sousa will be overseeing. Congratulations, you two are now managing the largest hedge fund in Ontario’s history! I’m just as optimistic as you are. But I recently made a promise to every taxpayer in Canada that I would call out mediocrity, incompetence and risk in government economic and fiscal policy, so I feel the need to verify a few things: * This new slush fund will have its own independent and transparent account, right? * I will need a quarterly statement of fund flows in and out of the account documenting the source and use of proceeds. After all, someone in your government might forget that this money was earmarked to reduce carbon emissions and spend it on something else. * I expect to be informed on administrative head count. Rumour has it you're planning on hiring hundreds of new government employees to administer the fund. You know how snippety some people can get when you swell government payroll when no one else can find a job in this economy! * I heard Mr. Sousa say on the radio that you're going to be making new and exciting investments in “green tech”. I will need to know the terms of each deal, what I paid for my equity or debt positions, my voting rights and what governance is in place in each investment. * I expect you’ll be hiring an independent auditing firm to value each investment on a mark to market basis and provide a going concern letter in cases where investments might not have worked out as planned. Also “green tech” companies have a nasty habit of going bankrupt as soon as their government subsidies end, but with your and Mr. Sousa’s long track record of picking winners in this industry, I’m not worried about that. * I’d like you to offer some consolation to parents in Ontario who are concerned they're leaving their children a $308 billion debt. Such worry warts! Yes, our $308 billion debt makes Ontario the most leveraged jurisdiction in North America. We now have twice the debt of the state of California with half the population! * Oh yes, just one more thing. You promised that this initiative was going to reduce carbon emissions, so I will need the reduction data on a quarterly basis as well. I know your critics say you could have left all this money in the hands of companies that employ thousands of Ontario workers and in the pockets of entrepreneurs who create new jobs in Ontario, but you told us you could do a better job with it and you didn’t give us a choice anyway. We're already one of the most uncompetitive and highest taxed jurisdictions in North America, so who cares about a few more billion in taxes? Well, maybe some taxpayers did care. They were some of the 29,000 Ontario residents that were affected by your last 2% super tax on Ontario’s high earners. I know they were very concerned about air quality too. Many moved to Nassau where carbon emissions are low. They don’t pay tax in Ontario any more so let’s forget about them. They're not going to give us any more trouble or tax revenue. On behalf of myself and all the Ontario taxpayers who still live here, I want to know that you're our leader on this fund. Before you know it, there's going to be another election in Ontario and I’m going to make damn sure both of you get all the credit you deserve on this. Oh, and good luck with the funds performance. No one else on earth has ever reduced emissions or made money doing this, so I’ll be watching and keeping everybody informed with all the good news that is sure to be coming. And, of course, we will all be breathing easier watching those carbon emissions plunge as soon as you start spending this money! Yours respectfully, Kevin O’Leary @kevinolearytv Link to comment Share on other sites More sharing options...
wkrp Posted February 29, 2016 Report Share Posted February 29, 2016 Good letter Kevin but you are still an idiot. Link to comment Share on other sites More sharing options...
Rod Caster Posted February 29, 2016 Report Share Posted February 29, 2016 Self serving wiener. Link to comment Share on other sites More sharing options...
leaf4 Posted February 29, 2016 Report Share Posted February 29, 2016 As much as I think this guy is a goof, I also think his money sense would be put to good use in a government position because he only cares about the $$$$$ Link to comment Share on other sites More sharing options...
netminder Posted February 29, 2016 Report Share Posted February 29, 2016 Good letter Kevin but you are still an idiot. Couldn't have said it better myself. What a clown. O'Leary saw that orange-coloured blowhard south of the border getting attention and figured he deserved some himself. I think the voters here are a little smarter than to fall for that though. Either way hes not racist enough. Link to comment Share on other sites More sharing options...
Headhunter Posted February 29, 2016 Report Share Posted February 29, 2016 Hmmm, let's see, an entrepreneur who has his finger on the business world takes the government to task on their new tax grab and folks are complaining that they don't like the guy. Not saying I am a fan of his, but from a business perspective, he hit the nail right on the head. It's not like we have any history with our current government wasting OUR money on projects administered by the public sector! LOL Sorry you guys don't see that. HH Link to comment Share on other sites More sharing options...
John Posted February 29, 2016 Report Share Posted February 29, 2016 So I can only assume that when you call O'Leary the names you do that you agree with Ms. Wynne's fiscal policies and the fact that successive Liberal governments have created a debt in Ontario that your children will still be paying in their retirement years! Assuming of course they don't continue spending like drunken sailors then just substitute your grandchildren! Similarly, our newly appointed Federal government is off to a cracking start, hopefully we can find some clause somewhere that enables us to impeach for incompetence before we spend ourselves into obscurity! Link to comment Share on other sites More sharing options...
ehg Posted February 29, 2016 Report Share Posted February 29, 2016 Liberal or Conservative? Doesn't matter to Kevin O'Leary.He will take run for Liberal leadership. http://www.cbc.ca/news/politics/kevin-o-leary-liberal-leadership-1.3467710 Link to comment Share on other sites More sharing options...
John Posted February 29, 2016 Report Share Posted February 29, 2016 Quite frankly, doesn't matter a hill of beans to me either! Link to comment Share on other sites More sharing options...
FloatnFly Posted February 29, 2016 Author Report Share Posted February 29, 2016 o'Leary is our Donald Trump, not in the political way, that up for another debate. But both are a lot smarter about money and business than any one of us, its why they are in the positions they are in. Why are we building up so much debt? so that we can be taxed more so the government has more to spend and pt us further in debt? Liberal, Conservative, NDP, Green or whatever, it doesn't matter what colour your flag is, the fact remains the same, cut the government spending on our dollar. Link to comment Share on other sites More sharing options...
ljadug Posted February 29, 2016 Report Share Posted February 29, 2016 That's the current trend.... Smart, successful people been called an idiots, guys who barely got B in high school and haven't achieved anything getting elected to rule. Mediocrities time... Somebody is going to pay for it at the end. Link to comment Share on other sites More sharing options...
Rod Caster Posted February 29, 2016 Report Share Posted February 29, 2016 If any other "dragon" was merging from business to Gov, I'd be much more ok with it. Leary is nothing but a reality TV star in thin disguise. Link to comment Share on other sites More sharing options...
BillM Posted February 29, 2016 Report Share Posted February 29, 2016 He might be a clown but he's right. Link to comment Share on other sites More sharing options...
John Posted February 29, 2016 Report Share Posted February 29, 2016 Yup would much rather have an O'Leary 'clown" ....as Bill says he is right! Link to comment Share on other sites More sharing options...
Dara Posted February 29, 2016 Report Share Posted February 29, 2016 Lets see now, we are over 300 billion in debt and its costs 6 billion a year in interest charges at 2%. We are taking 4 years to eliminate a 5 billion dollar a year deficit. What happens when interest rates go to 4%. O'leary is right to call the government to task about how they plan to handle a brand new initiative He didn't ask one question that shouldn't be answered How much you wanna bet Kathleen McGuinty doesn't answer Link to comment Share on other sites More sharing options...
netminder Posted February 29, 2016 Report Share Posted February 29, 2016 o'Leary is our Donald Trump, not in the political way, that up for another debate. But both are a lot smarter about money and business than any one of us, its why they are in the positions they are in. I would like to take this opportunity to vehemently disagree with that. There's no way a man (Trump) who inherited hundred of millions of dollars and has declared bankruptcy multiple times knows any more than your average house cat about money. I've heard said by some people who actually are smart about money that if he had simply sat on his inheritance that he'd be better off today than he actually is. And Kevin O'Leary is a blowhard who likes to talk a big game. I think a lot of people over-estimate how much he's actually worth. He was probably the least wealthy of all the dragons on Dragon's Den. I'm not saying he's wrong about what he wrote in that open letter, but I think if anyone one of us on this forum sat down for a little while we could have formulated that letter. He's not saying anything revolutionary or anything we don't already know. Link to comment Share on other sites More sharing options...
Fisherman Posted February 29, 2016 Report Share Posted February 29, 2016 Looks like a lot of closet liberals. Link to comment Share on other sites More sharing options...
Big Cliff Posted February 29, 2016 Report Share Posted February 29, 2016 I really don't care who it is but I'd vote for anyone that is willing to take on that stupid, ignorant thing that is spending our money like there is no tomorrow. There has to be some accountability and all "it" has done so far is dictate. It has said it numerous times already, it doesn't care what we think, it is doing it it's way! Link to comment Share on other sites More sharing options...
John Posted February 29, 2016 Report Share Posted February 29, 2016 I would like to take this opportunity to vehemently disagree with that. There's no way a man (Trump) who inherited hundred of millions of dollars and has declared bankruptcy multiple times knows any more than your average house cat about money. I've heard said by some people who actually are smart about money that if he had simply sat on his inheritance that he'd be better off today than he actually is. And Kevin O'Leary is a blowhard who likes to talk a big game. I think a lot of people over-estimate how much he's actually worth. He was probably the least wealthy of all the dragons on Dragon's Den. I'm not saying he's wrong about what he wrote in that open letter, but I think if anyone one of us on this forum sat down for a little while we could have formulated that letter. He's not saying anything revolutionary or anything we don't already know. But we didn't! O'Leary had the cojones to...........just sayin'. BTW who really cares what he is worth? Has little to do with this issue...... Link to comment Share on other sites More sharing options...
Rod Caster Posted February 29, 2016 Report Share Posted February 29, 2016 I am by no means a dedicated liberal. I could explain why, but that's a boring read for this thread Oleary isn't the first person to try and take the gov to task. He's just louder than everyone else. If you think he is putting out original ideas and is "right" then you watch too much TV and get too easily star struck I have no issues with him trying to address fiscal mismanagement, and he would make a good government consultant, but in no way do I want him to have any serious political control in Canada Link to comment Share on other sites More sharing options...
Dutch01 Posted February 29, 2016 Report Share Posted February 29, 2016 I am by no means a dedicated liberal. I could explain why, but that's a boring read for this thread Oleary isn't the first person to try and take the gov to task. He's just louder than everyone else. If you think he is putting out original ideas and is "right" then you watch too much TV and get too easily star struck I have no issues with him trying to address fiscal mismanagement, and he would make a good government consultant, but in no way do I want him to have any serious political control in Canada You took the words right out of my mouth. Well said. Link to comment Share on other sites More sharing options...
Old Ironmaker Posted February 29, 2016 Report Share Posted February 29, 2016 I just don't get it when he says "we" as "we" here in Ontario. His main residency is Boston Mass. He does have a "cottage" in the Muskokas but he is basically American now for tax purposes. No way he is paying all the taxes that Canadian residents do if he is that money savvy. And no one is to say any member here hasn't written the same thing to our politicians just as he did. We knew him when he was running a TV camera for Don Cherries Grapevine on Main Street in Hamilton. He was a dork. Now he is a successful dork, good for him he has done pretty well for himself. Link to comment Share on other sites More sharing options...
John Posted February 29, 2016 Report Share Posted February 29, 2016 I am by no means a dedicated liberal. I could explain why, but that's a boring read for this thread Oleary isn't the first person to try and take the gov to task. He's just louder than everyone else. If you think he is putting out original ideas and is "right" then you watch too much TV and get too easily star struck I have no issues with him trying to address fiscal mismanagement, and he would make a good government consultant, but in no way do I want him to have any serious political control in Canada LOL....and you think that our current "serious" political "leaders" are sound fiscal managers???? We have a provincial "leader" who is turning Ontario into a fiscal third world country and a Federal "leader" who is.......well words fail me without some adjectives I would rather not use.... Link to comment Share on other sites More sharing options...
KLINKER Posted March 1, 2016 Report Share Posted March 1, 2016 Invest in China, invest in China, invest in China, invest in China invest in China, invest in China, invest in China invest in China, invest in China, invest in China invest in China, invest in China, invest in China invest in China, invest in China, invest in China invest in China, invest in China, invest in China invest in China, invest in China, invest in China invest in China, invest in China, invest in China invest in China, invest in China, invest in China invest in China, invest in China, invest in China invest in China, invest in China, invest in China invest in China, invest in China, invest in China invest in China, invest in China, invest in China invest in China, invest in China, invest in China invest in China, invest in China, invest in China invest in China, invest in China, invest in China invest in China, invest in China, invest in China invest in China, invest in China, invest in China invest in China, invest in China, invest in China invest in China, invest in China, invest in China invest in China, invest in China, invest in China invest in China, invest in China, invest in China invest in China, invest in China, invest in China invest in China, invest in China, invest in China I want to be your next Prime Minister Link to comment Share on other sites More sharing options...
glen Posted March 1, 2016 Report Share Posted March 1, 2016 Maybe they can get china to do a cap and trade. How's the Polution there. Link to comment Share on other sites More sharing options...
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