REVscene Automotive Forum

REVscene Automotive Forum (https://www.revscene.net/forums/)
-   Vancouver Off-Topic / Current Events (https://www.revscene.net/forums/vancouver-off-topic-current-events_50/)
-   -   Crown Corporations (icbc, hydro) buying up Olympic Tickets (https://www.revscene.net/forums/590231-crown-corporations-icbc-hydro-buying-up-olympic-tickets.html)

StylinRed 09-22-2009 08:05 PM

Crown Corporations (icbc, hydro) buying up Olympic Tickets
 
Quote:

VANCOUVER (NEWS1130) - People on the street don't think it's a good use of money. News1130 chatted with people on Broadway in Vancouver who are not pleased to find out B.C. Crown companies will spend over a $1 million to buy Olympic tickets.

Many felt crown corporations should be looking at ways to cut our insurance or hydro rates instead of spending money on Olympic tickets. Hydro has defended its ticket purchases by saying most will be handed out as gifts to customers who have done a good job of reducing their power use.

ICBC says its tickets were bought from the sale of optional insurance and not from basic premiums. The NDP says with so many program cuts in BC, the money should have gone to something more worthy than tickets and a luxury box at GM Place.
http://news1130.com/more.jsp?content...22_164805_8156

oO

Jeffield 09-22-2009 08:08 PM

wtf, way to waste money

dizzystar 09-22-2009 08:22 PM

of course.

they spend OUR money to send THEIR execs and 'good customers' (meaning, friends and family) to the olympics, and we get screwed into spending OUR money AGAIN to go to the events, while the 2 beside you were sent to the games on YOUR dime.

FUCK ICBC and HYDRO and TRANSLINK and the CANADA LINE

JesseBlue 09-22-2009 08:23 PM

is this really newsworthy? we already know they're crooks..haha

falcon 09-22-2009 08:38 PM

yes... thank you dad for sticking it out for the last 34 years at ICBC (note: the company has been around for 35. He is one of approx 20 people that have been there that long). I look forward to my free tickets.


OHHH... I'll throw my suit on and let the flaming begin. :D

dizzystar 09-22-2009 08:44 PM

I think ur dad sold me a write off but removed it from the vehicle claims history... send him to the richmond oval!

Eff-1 09-22-2009 08:54 PM

at the end of the day, these corporations are just that: corporations. and guess what. corporations spend money on events and hospitality. that includes sponsorships, tickets, and entertainment for their employees, customers and stakeholders. it's part of doing business.

this is just one of those news stories designed to rile up the lowest common denominators-- along with the people who don't really understand how the world works.

ilvtofu 09-22-2009 08:55 PM

Quote:

Originally Posted by falcon (Post 6605380)
yes... thank you dad for sticking it out for the last 34 years at ICBC (note: the company has been around for 35. He is one of approx 20 people that have been there that long). I look forward to my free tickets.


OHHH... I'll throw my suit on and let the flaming begin. :D

I don't think it's your dad's fault I can't afford my insurance, so I'll let you go watch the olympics in peace :)

The_AK 09-22-2009 08:56 PM

tell your dad im ok with being 50% responsible for sticking my foot up his ass

misteranswer 09-22-2009 09:00 PM

Quote:

Originally Posted by ilvtofu (Post 6605403)
I don't think it's your dad's fault I can't afford my insurance, so I'll let you go watch the olympics in peace :)

His dad is an actuary. He decides your rates. He is also a ICBC lawyer part time.

ajax 09-22-2009 09:10 PM

Quote:

Originally Posted by Eff-1 (Post 6605402)
at the end of the day, these corporations are just that: corporations. and guess what. corporations spend money on events and hospitality. that includes sponsorships, tickets, and entertainment for their employees, customers and stakeholders. it's part of doing business.

this is just one of those news stories designed to rile up the lowest common denominators-- along with the people who don't really understand how the world works.

But they are still different from a regular corporation, I dont know people who have shares in ICBC. Since they're a government corp, people expect them to pass savings to the people.

ienhz 09-22-2009 09:22 PM

^ especially when the province is in a big enough deficit as it is.

ah_cat 09-22-2009 09:30 PM

b/c ICBC are sponsors of the olympics?
and the money that they made from the olympic plates most likely had a big part in this?

RouRK 09-22-2009 09:36 PM

Quote:

Originally Posted by misteranswer (Post 6605414)
His dad is an actuary. He decides your rates. He is also a ICBC lawyer part time.

then he should buy his own tickets

Eff-1 09-22-2009 09:51 PM

Quote:

Originally Posted by ajax (Post 6605422)
But they are still different from a regular corporation, I dont know people who have shares in ICBC. Since they're a government corp, people expect them to pass savings to the people.

We don't own shares, so they don't owe us anything in the form of dividends or savings. Their goal is to run a profitable insurance company. Those profits are either re-invested in the organization, or used to mitigate future rate increases to stay competitive with others who sell optional coverages.

Durrann1984 09-22-2009 10:03 PM

no wonder a lot of ppl couldnt get tickets

StylinRed 09-22-2009 10:08 PM

yeah they probably took up all the gold medal hockey tickets

keifun 09-22-2009 10:40 PM

didn't ICBC came up with a huge surplus year after year. Guess they gotta spend their money somewhere. Damn it!

PiuYi 09-22-2009 10:45 PM

Quote:

Originally Posted by The_AK (Post 6605407)
tell your dad im ok with being 50% responsible for sticking my foot up his ass

+1 :haha::haha:

taylor192 09-23-2009 10:39 AM

Quote:

Originally Posted by Eff-1 (Post 6605402)
at the end of the day, these corporations are just that: corporations. and guess what. corporations spend money on events and hospitality. that includes sponsorships, tickets, and entertainment for their employees, customers and stakeholders. it's part of doing business.

They are not corporations in the traditional sense. ICBC sells insurance that is government mandated. We have no choice but to buy it from them, thus why they had to say explicitly "did not come from sales of basic insurance" which I doubt.

Same with Hydro, Translink, ... there's no real alternative, so these are essentially crown corporations and should not be rewarding employees or customers, they should be cutting costs.

Sid Vicious 09-23-2009 01:01 PM

Quote:

Originally Posted by Eff-1 (Post 6605402)
at the end of the day, these corporations are just that: corporations. and guess what. corporations spend money on events and hospitality. that includes sponsorships, tickets, and entertainment for their employees, customers and stakeholders. it's part of doing business.

this is just one of those news stories designed to rile up the lowest common denominators-- along with the people who don't really understand how the world works.

lowest common denominator = the province readership

Hondaracer 09-23-2009 03:16 PM

Good, driving up prices :)

falcon 09-23-2009 04:28 PM

Quote:

Originally Posted by ilvtofu (Post 6605403)
I don't think it's your dad's fault I can't afford my insurance, so I'll let you go watch the olympics in peace :)

lol... well he acutally has NOTHING to do with any of the insurance. He manages all of the networking/computer/ph systems etc.. basically all the shit they need to run the company.

He's never worked for claims.

ajax 09-23-2009 05:54 PM

Quote:

Originally Posted by Eff-1 (Post 6605474)
We don't own shares, so they don't owe us anything in the form of dividends or savings. Their goal is to run a profitable insurance company. Those profits are either re-invested in the organization, or used to mitigate future rate increases to stay competitive with others who sell optional coverages.

Re-invested by buying Olympics tix? Since they basically have a monopoly on the auto insurance in BC and they're government run, this is not a good way to spend money. Pass the savings onto the consumers, especially with the huge surplus they had.

StylinRed 09-23-2009 08:38 PM

Quote:

Originally Posted by Hondaracer (Post 6606284)
Good, driving up prices :)

or like with World Cup tickets, it just means more tickets for sale... saturating the market :(


figure out a way to sell them yet? since they seem to have ebay/CL covered


All times are GMT -8. The time now is 08:33 PM.

Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2025, vBulletin Solutions Inc.
SEO by vBSEO ©2011, Crawlability, Inc.
Revscene.net cannot be held accountable for the actions of its members nor does the opinions of the members represent that of Revscene.net