HomeMy WebLinkAboutHuron Expositor, 2014-08-13, Page 44 Huron Expositor • Wednesday, August 13, 2014
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Cana11*1
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editorial
Public zapped by
hydro pension plans
It's frightening that every time anyone who knows how
to add looks at public pension plans in Ontario's electric-
ity sector, they freak out.
So should taxpayers and hydro consumers, because
they're contributing $5 for every $1 provincial employees
at Hydro One and Ontario Power Generation contribute
to their pension plans.
These plans, covering tens of thousands of workers, are
so expensive there have now been repeated warnings
from independent financial experts they will make our
electricity bills higher than they otherwise would be.
The latest bad news comes in a report prepared for Pre-
mier Kathleen Wynne's government that the Liberals did
their best to bury.
Finished in March, they held it until after the June elec-
tion, then released it last Friday on the finance ministry's
web site, heading into the long weekend.
This is standard operating procedure when a govern-
ment wants to bury bad news.
The report, prepared by consultant Jim Leech, former
CEO of the Ontario Teachers' Pension Plan, found Hydro
One and OPG pensions are "far from sustainable"
because they are overly "generous, expensive and inflexi-
ble',' even when compared to other pension plans in the
public sector.
"The employers bear all risks, such as investment per-
formance, interest rate changes and increased longevity,"
Leech wrote. "These risks increase both the amount and
the volatility of pension costs, which is ultimately borne
by ratepayers, customers and shareholders."
Leech recommended the government lower the pub-
lic's contribution rate to 50/50 with employees over five
years.
But this isn't the first time an independent financial
expert has warned about out -of -control pension costs in
the electricity sector.
In December, 2013, Ontario Auditor General Bonnie
Lysyk reported overly generous pensions at OPG would
directly impact on hydro rates, along with excessive
salaries, bonuses, moving allowances, rampant over-
time, a surplus of senior managers and nepotism.
She also found the public was contributing $5 to the
OPG pension plan for every $1 contributed by OPG staff,
five times higher than for other civil servants.
Sadly, it falls to Wynne's government to reduce these
costs, which will have to be negotiated through collective
bargaining.
Given the Liberals' close relationships with the prov-
ince's public sector unions, that's like sending in a rabbit
to guard the lettuce patch.
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Sorry, not sorry
Sympathy, pity
and even regret.
The words I'm
sorry can mean a
lot of things.
More often than
not, we use it as an
apology; a senti-
ment of remorse
for something we
may have done by
accident, or even
in malice.
Other times, it can be
thrown out sarcastically or
even passive aggressively.
Not to mention spurting the
words out as an occasional
reflex reaction.
So the question is, how
often are the apologies truly
sincere?
I for one, just can't bring
myself to say it if I don't mean it.
Trust me when I say this fact
has proven to be quite the
obstacle in most of my past
romantic relationships.
Logic being if I'm not sorry,
why say it?
Maybe there's more to it than
meets the eye.
According to a 2013 study
from Harvard University, peo-
ple who offer apologies when
they aren't needed are more
likely to be perceived as likea-
ble and trustworthy.
To conduct the study, partici-
pants approached people enter-
ing a large train station while it
was raining outside.
Strangers were asked to lend
their mobile phones to one of
the study's participants asking
one of two questions: "Can I
borrow your cellphone?" or
"I'm sorry about the rain. Can I
borrow your cellphone?"
Turns out strangers were more
likely to hand over their phone if
they heard an apology first.
But let's be honest, most
people aren't prone to apol-
ogy just to save their own
wireless minutes.
Col
umn
Whitne
Huron E
y South
xpositor
Far from a
devious plot
device, it's possi-
ble the phenom-
enon has more to
do with causing
the offended
party to become
more compla-
cent. After all, it's
what they want to
hear, right?
This isn't a good thing.
Growing up, kids are often
told to apologize, but are they
really grasping the concept of
what their apology means?
In a 2010 study of when
Canadians say "sorry," young
people aged 18 to 25 were
"more interested in impressing
others and in advancing
through making personal con-
nections in their career and
everyday life and therefore are
more open to saying 'sorry' to
keep the relationship positive?'
All in all, it seems the Cana-
dian stereotype of being
overly apologetic may actually
hold some weight.
But wait, this isn't a column
filled with negativity.
Despite my neighbour's com-
ment this sounds like nothing
more than a huge rant, I do
have a point.
I promise.
What I'm trying to get at is,
with so many apologies being
thrown around, it's important to
make sure it really counts.
That is to say, we take a lot for
granted these days. Real relation-
ships are something to cherish
and respect. To be insincere is to
lose a piece of something you
can never get back.
It takes a lot of grace to for-
give, but it takes a lot of bravery
to genuinely ask for
forgiveness.
So make sure when you say
those two little works - I'm
sorry - you mean it with all
your heart.
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