OT: Toronto street lights sale

[William Muriithi]

Hi

I got a small rant I need to share that has nothing to do with
technology, but since this is Toronto LUG, I think the sale of Toronto
street lights is something we can share about. I once mentioned this
deal here some years back but a recent article below had me thinking
about it again.

http://www.thestar.com/printarticle/767968

After reading it, you will notice the deal was REALLY bad. To me, its
similar to an individual in a very serious debt going to a gang who
offer him/her money at a ridiculous interest rate and if he/she fail
to pay up, they came and break his/her legs. In short, a deal done
purely through emotion and no logic.

Now, if this was an individual, it would be totally understandable.  I
have seen people doing too many things that make no sense at all. If
you want an example of one such case, the article below will not
disappoint.
http://news.bbc.co.uk/2/hi/8474611.stm

Toronto city is a big organization that should have sharp people.
Seriously, its not that complicated. I would assume they were given
the terms of how much it would cost them to have the streets lighted
annually after the sale.  At that point, it was just a matter of
putting the two alternatives into their present value and it would
have been apparent which of the two alternative was superior. How did
they get it this wrong? Could I be blind to some facts that someone
here may care to enlighten?

Anyway, the good thing is Toronto hydro is owned by the city, so its
just moving money from one pocket to the other.  I am doubtful though
they would have done a better job were they dealing with an external
entity. I am always puzzle why governments these days tend to be short
term minded. If they start working like private firms, where anything
after the next quarter does not count, we will have a really bleak
future

William
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