Whew. Nothing like a day long drive back from Prince George to Vancouver, and waking up this morning to hear SNC Lavalin’s CEO, Pierre Duhaime has resigned- from Reuters:
” SNC-Lavalin Group Inc said its Chief Executive Pierre Duhaime resigned after the company said it had identified material weaknesses in its internal control over financial reporting.
In February, the Canadian engineering and construction company had said it expected to record payments of about C$35 million “relating to certain payments” in the fourth quarter that were linked to construction projects that were unrelated to the expenses.
At that time, it had revealed a probe into the mysterious payments and warned that the impact of Libya’s civil war would push its 2011 profit well below earlier forecasts.”
Big news and I can’t help but wonder what comes next, and how long Christy Clark’s strategic advisor Gwyn Morgan remains attached to this corporation that continues to face some highly contentious allegations, a class action lawsuit and endured RCMP raids on some of its offices. All of which makes the continual interest by those in high level federal offices in the following post, all that more speculative http://lailayuile.com/2012/03/04/moral-hazard-is-when-they-take-your-money-and-then-are-not-responsible-for-what-they-do-with-it-gordon-gekko/
I’ll leave you with that this morning,since for me, I am back to the daily grind. It’s great to be back and you can look forward to a couple of posts on my visit back home, one political that will leave a bad taste in your mouth,and one beautiful enough to restore some hope.