#aimco — Public Fediverse posts

Danielle Smith says Alberta will withhold funding for judges without more input on selection

Premier Smith’s claims that Alberta has no say in the selection of judges is false. She’s basically got a hatchet, and she’s pummelling the Justice System with it.

https://www.justice.gc.ca/eng/csj-sjc/ccs-ajc/05.html

https://albertacourts.ca/cj/about-the-court/judicial-information/judicial-appointments

Premier Smith has a background in legacy media, and may be trying to steer the news cycle away from recent reports suggesting that her decisions are killing Albertans in hospitals due to her policy choices, and that she’s been attacking the healthcare system at the expense of society. Without going into the CorruptCare contracts that involve Sam Mraiche, the Premier’s life is messy, and complicated.

https://canadahealthwatch.ca/2026/02/01/deaths-in-er-waiting-rooms-are-a-policy-choice

https://thetyee.ca/News/2026/02/03/Danielle-Smith-AHS-Firing-Spree/

Smith’s Been Attacking the Justice System For A While Now

1

Smith’s been consolidating power into the UCP and herself, and her attacks on the justice system are not limited to judges. The UCP’s interfered with courts to cover up for AIMCo.

https://kopitalk.net/c/alberta/p/93282/alberta-tries-to-legislate-ban-on-lawsuits-about-aimco-losses

2

She’s run legislation to get ahead of court decisions on Alberta’s Citizen Initiative Act

https://www.cbc.ca/news/canada/edmonton/alberta-judge-proposed-referendum-unconstitutional-9.7004982

3

Danielle’s UCP consolidated power into how Justice System adjacent support services are run and funded by sacking the Alberta Law Foundation Board members. However one characterizes the way in which the board members left, the ultimate result is still a ransacking.

https://www.cbc.ca/news/canada/calgary/law-foundation-staff-resignations-9.7049236

4

The UCP may appear too involved (despite statements to the contrary) with the terminations of two career Crown prosecutors, attacking the appearance of an independent prosecution service.

https://www.cbc.ca/news/canada/edmonton/alberta-crown-attorneys-association-edmonton-chief-crown-employment-9.6986908

5

The UCP have invoked the Notwithstanding Clause repeatedly to avoid legitimate Charter challenges.

https://www.ctvnews.ca/edmonton/article/alberta-legislature-passes-bill-invoking-charter-override-for-fourth-time/

6

Smith directly voiced support for EPS Chief Warren Driechel when the Chief penned a letter to news media to interfere with the Crown Prosecution’s file. At that moment, the EPS interfered with the Judicial Independence of the court, and the independence of the Crown who has complete decision-making authority over their file.

You see, police serve an important role to enforce the laws. They wear different hats at different times, and as far as courts are concerned they can be public office holders when they decide when and whom to target for investigation and arrest (which makes the news some times for bad reasons), and they’re agents of the state under different roles. Police also enjoy their own independence, subject to their own boards which tie them back to the community (ideally).

When Kaycee Madu controversially reached out to former EPS Chief McFee, Madu obviously crossed red lines for police independence.

When Smith voiced support for the EPS letter, she interfered with the independence of all three justice system participants. But, bizarrely, since she has a history of being a mercenary and a media personality, Smith wasn’t subjected to review (yet) or any discipline. EPS Chief Driechel though, should be subject to review and potential discipline because he should know better. Similarly, EPS lawyer Megan Hankewich, also in a position to know better, and should be subjected to a review.

https://www.cbc.ca/news/canada/edmonton/edmonton-plea-deal-police-1.7634783

Alberta tries to legislate ban on lawsuits about AIMCo losses

If hardworking Canadians wanted to gamble their earnings at the casino, I think they’d prefer to do that on their own terms. They certainly don’t need their savings taken by an AIMCo to do that for them.

Also, if the UCP don’t want Alberta to cover the losses and restore the retirement monies of Canadians, then what’s the point of AIMCo? I thought the whole idea of managed retirement funds was to INVEST money set aside for Canadian workers so they had some money to live on when they are old and retired. If the UCP feel that Alberta did nothing wrong to owe this lost retirement money that was gambled away, then lay criminal charges and lay claims against AIMCo’s Officers and Managers.

With my thoughts upfront, I want to make sure I understand this situation correctly, AIMCo got to play/manage with money earned by hardworking Canadians. They were able to take an investment strategy that bet on market stability - called VOLTS - which clearly did not manage risk appropriately for a fund handling retirement savings. When AIMCo finally finished gambling the money away, the house takes maybe $1.3 Bln, and AIMCo asks the Canadians saving for their retirement to HOLD THE BAG.

When Canadians say they want their money back, the UCP propose new legislation “to prevent public sector pensions from suing the Alberta Investment Management Corp., or AIMCo, for decisions made before November 2024.” So what is this exactly? The UCP want to shield Albertans? If we were to be protected, if our retirement monies were INVESTED, these gambling debts wouldn’t have been incurred at all. You’re protecting us after the fact from what exactly? Ourselves?

Maybe AIMCo? From “The blowback of AIMCo’s gamble with market volatility”, by Andrew Willis, other experts and observers of AIMCo believe that the fund persistently underperforms. Worse, at least in the view of one University of Alberta Economist’s review, the senior managers and CEOs of AIMCo have given themselves great pay bumps since 2008.

Performance is a continuing problem for AIMCo. The fund’s biggest customer is the $50-billion Local Authorities Pension Plan (LAPP), which covers health-care workers. LAPP recently said AIMCo failed to meet its performance benchmark for 46 consecutive quarters, or 11 years and six months. In 2016, the University of Alberta reviewed the decision to build one provincial fund manager. “The major beneficiaries of the transformation appear to be the senior managers and particularly the senior executives of AIMCo, whose pay has increased significantly [since 2008],” said study author Robert Ascah, an economics professor.

EDIT: Link

https://www.theglobeandmail.com/business/commentary/article-the-blowback-of-aimcos-gamble-with-market-volatility/

The UCP are covering up for an underperforming AIMCo, and there’s no reason for Canadians to settle for this level of underperformance. Worse, now that AIMCo was clearly seen as failing to manage risk (diplomacy speak for gambling), what’s the point of their existence?

Maybe my gambling reference is debatable. How about this? How many Canadians have to choose between medical bills, food, or housing in the future thanks to the chronic underperformance of AIMCo? If you’re going to prevent Canadians from laying claim against Alberta and AIMCo, then allow them the option of taking their money elsewhere at no loss or penalties

@gemelliz

Wow, when you put it like that Harpo sounds like the natural choice to head #AIMCO

/snark

https://albertapolitics.ca/2024/11/report-says-ucp-wants-stephen-harper-to-lead-aimco-board-just-about-the-worst-pension-management-idea-youve-ever-heard/

#Alberta #FUCP #UCP

@dyckron

When Jason Kenney and the #UCP wrested control of the pension funds from Alberta's teachers without their input, consultation or consent, they STOLE it knowing the fees were going up in order to line the pockets of their cronies.

https://www.cbc.ca/news/canada/edmonton/alberta-teachers-pension-aimco-jason-kenney-1.5543295

Now Dani has a fresh batch of grifters that she's promised teachers' (and the rest of Alta's) money to,
and the woeful underperformance of #AIMCO is just an excuse to give THEM the fees ,which will remain high, instead.

#FUCP

#Alberta #AIMco #fired #Board #FiscalMismanagement

Alberta fires entire AIMCo board due to cost increases | Financial Post https://financialpost.com/investing/alberta-fires-entire-aimco-board-cost-increases

Marlin Glasgow Sàrl, a company registered in Luxembourg, bought multiple properties on Glasgow’s Watt Street, Houston Street and Houston Place in 2021 for a collective £19.1m, according to official data. But the true ‘beneficial’ owner of the company is the Alberta Investment Management Corporation (#Aimco), a Canadian public body in the province of Alberta.

#AIMCo #bungle #oilandgas #wastemoney #pensions #UCPfail

Latest AIMCo bungle showing us once again that Alberta should keep its hands off our pensions - The Progress Report https://www.theprogressreport.ca/razor_aimco_bungle

Anyone who’s looked at #AIMCO over the years also knows the province would not have matched #CPP returns.

It’s down -3.4% this year. CPP is up 1.3%.

Simple hard facts.

#Canada #cdnpoli #Alberta #abpoli

@gemelliz No doubt the feds will find #DanielleSmith's figure a bit biased.
She seemed concerned that "we don't want to be in a position where our money is being used to support solar and wind or other experiments "
More likely, she wants to show the opposite bias, let the proposed Provincial plan keep supporting fossil fuels as #AIMCo seems intent on doing.
https://www.nationalobserver.com/2022/09/21/news/aimco-ceo-not-sold-fossil-fuel-divestment-investment-strategy
#cdnpoli #abpoli #ClientChangeDenial

No surprise there. Even when you lose you win when you're part of the UCP.
#AbLeg #AIMCo

https://www.mountainviewtoday.ca/alberta-news/alberta-appoints-former-united-conservative-party-leadership-candidate-to-aimco-board-6886781

I invited Calgary Chamber of Commerce CEO Deborah Yedlin, former AIMCO head Leo de Bever, U of C economists Trevor Tombe and Lindsay Tedds, and Parkland Institute ED Ricardo Acuna to talk about the economics & politics of quitting the CPP. https://open.spotify.com/episode/53SbTC01WOH2HQJCQdpzZ9?si=zPJ7qo-oReC5KH3i8dwkvw #AlbertaUnbound #Alberta #CPP #APP #cpp #app #Canada #SenCA #ParklandInstitute #AIMCO #CDHowe

I invited Calgary Chamber of Commerce CEO Deborah Yedlin, former AIMCO head Leo de Bever, U of C economists Trevor Tombe and Lindsay Tedds, and Parkland Institute ED Ricardo Acuna to talk about the economics & politics of quitting the CPP. https://open.spotify.com/episode/53SbTC01WOH2HQJCQdpzZ9?si=zPJ7qo-oReC5KH3i8dwkvw #AlbertaUnbound #Alberta #CPP #APP #cpp #app #Canada #SenCA #ParklandInstitute #AIMCO #CDHowe

I invited Calgary Chamber of Commerce CEO Deborah Yedlin, former AIMCO head Leo de Bever, U of C economists Trevor Tombe and Lindsay Tedds, and Parkland Institute ED Ricardo Acuna to talk about the economics & politics of quitting the CPP. https://open.spotify.com/episode/53SbTC01WOH2HQJCQdpzZ9?si=zPJ7qo-oReC5KH3i8dwkvw #AlbertaUnbound #Alberta #CPP #APP #cpp #app #Canada #SenCA #ParklandInstitute #AIMCO #CDHowe

I invited Calgary Chamber of Commerce CEO Deborah Yedlin, former AIMCO head Leo de Bever, U of C economists Trevor Tombe and Lindsay Tedds, and Parkland Institute ED Ricardo Acuna to talk about the economics & politics of quitting the CPP. https://open.spotify.com/episode/53SbTC01WOH2HQJCQdpzZ9?si=zPJ7qo-oReC5KH3i8dwkvw #AlbertaUnbound #Alberta #CPP #APP #cpp #app #Canada #SenCA #ParklandInstitute #AIMCO #CDHowe

I invited Calgary Chamber of Commerce CEO Deborah Yedlin, former AIMCO head Leo de Bever, U of C economists Trevor Tombe and Lindsay Tedds, and Parkland Institute ED Ricardo Acuna to talk about the economics & politics of quitting the CPP. https://open.spotify.com/episode/53SbTC01WOH2HQJCQdpzZ9?si=zPJ7qo-oReC5KH3i8dwkvw #AlbertaUnbound #Alberta #CPP #APP #cpp #app #Canada #SenCA #ParklandInstitute #AIMCO #CDHowe

My guests are Deborah Yedlin, CEO of the Calgary Chamber of Commerce, Leo de Bever, the respected former head of AIMCO, Ricardo Acuna, executive director of the Parkland Institute, and two University of Calgary economists, Trevor Tombe and Lindsay Tedds. What do they think about quitting the Canada Pension Plan to start an APP? Their answers may surprise you. It was a fascinating conversation. #CPP #APP #Alberta #yeg #yyc #UAlberta #UCalgary #AIMCO #AlbertaUnbound #Canada #Calgary #Edmonton

#Alberta pension investment management group, #AIMCO, scores very badly on preparation to protect #ALBERTANSPENSION investments from climate change. Hands off our #CPP @ABDanielleSmith @RachelNotley @albertaNDP @AB_AgainstUCP @Alberta_UCP #Abpoli #ableg

https://www.shiftaction.ca/workshops/2023/02/08/reportcardwebinar