Agencies

Originally published 20 March 2017 Preface This is a story about a government announcement in the early days of the Prentice administration that I took very seriously. (As it turns out I shouldn't have.)  Since the Report arising from the announcement was never released, I undertook to bring it to the light of day through the access to information process. It took ten months. The tale below summarizes the background to the announcement; the enjoyable and lengthy process to receive a copy of the Report; and summary of the report; and my comments on the contents of the Report and recommendations  An earlier column can be found at The Bolton Committee. (more…)

Originally 11 March 2017 Three weeks ago an inconspicuous Order-in Council 39/2017 was quietly passed to repeal two sections of the Alberta Investment Management Corporation Regulation. The deletion of sections 5 and 6 are highly significant as the sections assured a measure of independence for the corporation's management and board from the government. The government's decision is positive and courageous for the reasons explored below. (more…)

Originally published 11 October 2016 Background Controversy continues to swirl around salary levels at Alberta's agencies, boards, and commissions (ABCs).  An article in The Globe and Mail by Justin Giovannetti  two weeks ago incorrectly identified the salary of the President and Chief Executive Officer of the Workers' Compensation Board as the highest of provincial ABC executives.  A tabulation by Albertarecessionwatch.com of the largest and most critical ABCs in the financial, health, energy, and post-secondary sectors shows that WCB CEO Guy Kerr ranks 20th among his ABC colleagues. (more…)

  The Bolton Committee In September 2014, prior to the provincial general election, then Premier Jim Prentice appointed a three person committee to examine the four major financial agencies owned by the provincial government: ATB Financial, Agricultural Financial Services Corporation, Alberta Investment Management Corporation, and Alberta Capital Finance Authority. The committee was led by Hugh Bolton, an accountant who was the Chair of the City of Edmonton's EPCOR Utilities and the chair of Capital Power, a company spun out of EPCOR.  Also serving on the committee were two well known financial executives: Linda Hohol a former director of ATB and the former President of the TSX Venture Exchange. Larry Pollock, the former CEO of Canadian Western Bank and a director of EPCOR. All  ag...