[StylinRed]

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=20090922_164805_8156

oO

[Jeffield]

wtf, way to waste money

[dizzystar]

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]

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

[falcon]

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]

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]

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]

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]

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

[misteranswer]

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]

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]

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

[ah_cat]

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]

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]

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]

no wonder a lot of ppl couldnt get tickets

[StylinRed]

yeah they probably took up all the gold medal hockey tickets

[keifun]

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

[PiuYi]

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

+1 :haha::haha:

[taylor192]

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]

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]

Good, driving up prices :)

[falcon]

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]

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]

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

[misteranswer]

BC Hydro had a much better excuse than ICBC. ICBC should have said they were giving the tickets away to safe drivers.

[Black Pearl]

pay the same hydro rates as south california and than complain about bc hydro being crooks.


youre crying about lowering rates?
we have the 3rd lowest KWH rate in north america... you guys are seriously a bunch of cheap/broke/uneducated fucken cry babies.

bc should have a dumb ass tax, 90% of the people on this site would be paying it.

[BNR32_Coupe]

revscene obviously quick to shoot first. look, if the employees aren't given tickets to the olympics, they wouldve gotten a bonus anyways. every company gives out bonuses as INCENTIVE to stay at their job. would you want ICBC to be run by a dumbass because all the smart asses left? of course not. so stfu with the quick assumptions

[Meowjin]

pay the same hydro rates as south california and than complain about bc hydro being crooks.


youre crying about lowering rates?
we have the 3rd lowest KWH rate in north america... you guys are seriously a bunch of cheap/broke/uneducated fucken cry babies.

bc should have a dumb ass tax, 90% of the people on this site would be paying it.

uh you do realize we export our power to california right?

[Black Pearl]

uh you do realize we export our power to california right?

uh...
you do realize you are stupider than a garbage bag full of autistic toddlers right?
uh...
you qualify for the 90% of fucktards that should be charged the BC dumb ass tax right?
uh....
you probably think you deserve a ticket to the olympics dont you, right?

uh...
you do realize BC generates more power than we consume in a day... and than BC sells the remaining power to the states and alberta in the evening when consumption is the highest... and than buys the left overs back in the morning for less than we sold it for, right?

uh...
you do realize power cant be stored, it can only be used... right?


uh...
nice try cockbreath.

uh...
"I want to know where your Mother lives so i can football kick her boxbox, any fucking bitch that popped you out needs to get bootfuck."

[hotjoint]

motherfuckers...

[taylor192]

revscene obviously quick to shoot first. look, if the employees aren't given tickets to the olympics, they wouldve gotten a bonus anyways. every company gives out bonuses as INCENTIVE to stay at their job. would you want ICBC to be run by a dumbass because all the smart asses left? of course not. so stfu with the quick assumptions

That logic is used by those overpaid management types to keep their jobs. Thanks for being a sheep and buying into.

Stats show that management in government is paid more than management in private industry. These incentives are not needed to keep them there, and they are hardly doing the best job.

[t8v6]

uh...
you do realize you are stupider than a garbage bag full of autistic toddlers right?
uh...
you qualify for the 90% of fucktards that should be charged the BC dumb ass tax right?
uh....
you probably think you deserve a ticket to the olympics dont you, right?

uh...
you do realize BC generates more power than we consume in a day... and than BC sells the remaining power to the states and alberta in the evening when consumption is the highest... and than buys the left overs back in the morning for less than we sold it for, right?

uh...
you do realize power cant be stored, it can only be used... right?


uh...
nice try cockbreath.

uh...
"I want to know where your Mother lives so i can football kick her boxbox, any fucking bitch that popped you out needs to get bootfuck."


uh...
you're overreacting

[StylinRed]

uh...
you do realize you are stupider than a garbage bag full of autistic toddlers right?
uh...
you qualify for the 90% of fucktards that should be charged the BC dumb ass tax right?
uh....
you probably think you deserve a ticket to the olympics dont you, right?

uh...
you do realize BC generates more power than we consume in a day... and than BC sells the remaining power to the states and alberta in the evening when consumption is the highest... and than buys the left overs back in the morning for less than we sold it for, right?

uh...
you do realize power cant be stored, it can only be used... right?


uh...
nice try cockbreath.

uh...
"I want to know where your Mother lives so i can football kick her boxbox, any fucking bitch that popped you out needs to get bootfuck."

that's why power should be cheaper for us than it is now

[misteranswer]

that's why power should be cheaper for us than it is now

No it shouldn't.

[Meowjin]

uh...
you do realize you are stupider than a garbage bag full of autistic toddlers right?
uh...
you qualify for the 90% of fucktards that should be charged the BC dumb ass tax right?
uh....
you probably think you deserve a ticket to the olympics dont you, right?

uh...
you do realize BC generates more power than we consume in a day... and than BC sells the remaining power to the states and alberta in the evening when consumption is the highest... and than buys the left overs back in the morning for less than we sold it for, right?

uh...
you do realize power cant be stored, it can only be used... right?


uh...
nice try cockbreath.

uh...
"I want to know where your Mother lives so i can football kick her boxbox, any fucking bitch that popped you out needs to get bootfuck."

http://communities.canada.com/vancouversun/blogs/energy/archive/2009/03/17/bc-hydro-electricity-import-controversy-examined.aspx