AltaLink Earnings Up 87 Percent
When you are paid to build something which you will eventually own, and have a guaranteed rate of return, it’s pretty easy to make money. As a result of their sweetheart deals with the government, AltaLink announced that their fourth quarter earnings were up by 87%. AltaLink has announced that their net income rose to $30.7 million during this quarter. This is up from $16.4 million one year ago.
There’s nothing wrong with making money in the world of private business – but AltaLink is making money because of a regime that allows the unjust expropriate of individual’s money for the building of transmission lines that are not needed. In that light, it is particularly galling to see AltaLink announce huge profits. Congratulations, you are making money by taking ours to build transmission lines near our homes and schools.
AltaLink is owned by SNC Lavalin, the Montreal-based firm which has recently faced significant criticism for having a cozy relationship with the repressive Gadhafi family that use to govern Libya. These profits will have the potential to help SNC Lavalin continue to make various investments around the world.
You can read the story on AltaLink profits here: http://www.calgaryherald.com/business/AltaLink+boosts+fourth+quarter+earnings+cent/6206376/story.html
For more on SNC-Lavalin, AltaLink and questionable ties, see this link.