OT: Toronto street lights sale

[William Muriithi]

Len Sorensen,

>
> So if the city of toronto owns toronto hydro, then they sold their
> lights to their own company and are paying money to their own company to
> manage them.  I guess any profits would come back to the city in the end,
> so where is the problem?  I don't get it.

Good question. I do not think it injure tax payers in any way. I was
just puzzled why they were fighting against it being published. So I
went out looking for Toronto Hydo ownership thinking its owned by
friends of toronto city managers.

When I realized its owned by the city, I felt a little lost. Something
still is not right. For example, when Microsoft Corporation reports on
its financial status, it en campuses all its subsidiaries.  I do not
think selling asset to Microsoft UK would change the books of the
parent company. However, this is what happened with Toronto city and
apparently, it make sense. Anyway, something are better left alone


>
> Given the city isn't allowed to run a defecit (unlike the province and
> the country), I guess using city owned companies is a way around it to
> deal with the budget potholes.
>
> --
> Len Sorensen
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