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Friday, May 29, 2009

Canada Pension Plan Investment Board

According to reports released to the Canadian media, the Canada Pension Plan's Investment Board recently released its annual report, and in it it states that CPP Executives were paid bonus payments totalling $11 million in 2008 and $6 million in 2009. Why am I bringing this up?

Because these so called executives, managed the CPP so poorly that the fund lost $24 billion last year. Why should bonuses for CPP executives be determined by the CPP board of directors, rather than an independent group of taxpayers or experts appointed by all the political parties in Canada?

Prime Minister Harper and Finance Minister Flaherty indicate that they will not interfere with the pension plan's management!

source:http://www.cbc.ca/canada/story/2009/05/28/deficit-harper-ignatieff.html

I think PM Harper and Finance Minister Flaherty are making a big mistake by taking this position in this circumstance. If these CPP executives are not managing the fund properly, they should be canned! If executives for business lost 24 billion dollars in a year, I am sure that these executives would be held accountable for their poor decisions, and would probably lose their jobs or be demoted. Why shouldn't these CPP executives be held accountable to the people of Canada for their poor business practices in managing the CPP? Maybe someone should remind Harper and Flaherty that 24 billion dollars is 24 thousand million dollars.

In U.S. terms,
A Billion dollars can buy 666,666, 26 Cu ft double wide refrigerators at $1500 dollars a piece do you think this would employ some people at Whirlpool.
A Billion dollars can buy 10,000 brand new fully equipped Mobile Homes That would most likely provide shelter to nearly 40,000 people, and employment for thousands more.
A Billion Dollars can pay for the salary of 16,667 police officers at 60,000 per officer for a year. The city of Los Angeles has 9,900 officers.
A Billion Dollars would send 100 million people to the movies @ $10.00 per person and maybe enough for popcorn. I do imagine a discount would be in order.
A Billion Dollars would pay the average one month cable bill for the every person in the cities of New York, Los Angeles, Chicago, Houston, Philadelphia, San Antonio, Phoenix, San Diego and them some.
A billion dollars would buy a Grand Slam breakfast at Denny's for nearly 167 million people. The population of the USA as of February 2009 is around 306 million.Thus, a great breakfast for more than half the country. (and no Denny's didn't pay me.)
A Billion Dollars would send 4,902 students to Stanford for 4 years undergraduate, including Books, supplies, room, board, tuition and fees.

source:http://hubpages.com/hub/Daddy--how-much-is-a-Billion

According to todays' exchange rate 1 Canadian Dollar can buy 0.9046 US Dollars. So you can see that even if we convert the U.S terms dollars above to Canadian dollars, there are alot of things the Federal Government of Canada could be doing with the $24 billion dollars the CPP lost!

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Thoughts worth thinking about

"Our subconscious minds have no sense of humor, play no jokes and cannot tell the difference between reality and an imagined thought or image. What we continually think about eventually will manifest in our lives."-Sidney Madwed



Laws alone can not secure freedom of expression; in order that every woman and man present their views without penalty, there must be spirit of tolerance in the entire population.- Albert Einstein Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around. - Leo Buscaglia



A person's true wealth is the good he or she does in the world. - Mohammed



Our task must be to free ourselves... by widening our circle of compassion to embrace all living creatures and the whole of nature and its beauty. -Albert Einstein



The best way to find yourself, is to lose yourself in the service of others. - Ghandi



The unselfish effort to bring cheer to others will be the beginning of a happier life for ourselves. - Helen Keller



Aim for success, not perfection. Never give up your right to be wrong, because then you will lose the ability to learn new things and move forward with your life. Remember that fear always lurks behind perfectionism. Confronting your fears and allowing yourself the right to be human can, paradoxically, make yourself a happier and more productive person. - Dr. David M. Burns



Life is as dear to a mute creature as it is to man. Just as one wants happiness and fears pain, just as one wants to live and not die, so do other creatures. -His Holiness The Dalai Lama



Mankind's true moral test, its fundamental test (which lies deeply buried from view), consists of its attitude towards those who are at its mercy: animals. And in this respect mankind has suffered a fundamental debacle, a debacle so fundamental that all others stem from it. -



Milan Kundera, The Unbearable Lightness of Being



The worst sin towards our fellow creatures is not to hate them, but to be indifferent to them. That's the essence of inhumanity. -George Bernard Shaw

Ego's trick is to make us lose sight of our interdependence. That kind of ego-thought gives us a perfect justification to look out only for ourselves. But that is far from the truth. In reality we all depend on each other and we have to help each other. The husband has to help his wife, the wife has to help the husband, the mother has to help her children, and the children are supposed to help the parents too, whether they want to or not.-Gehlek Rinpoche Source: "The Best Buddhist Writing 2005 pg. 165

The hostile attitude of conquering nature ignores the basic interdependence of all things and events---that the world beyond the skin is actually an extension of our own bodies---and will end in destroying the very environment from which we emerge and upon which our whole life depends.