Williams - The De Terminator

When one of the Directors of Alderon Iron Ore Corp. addressed the St. John's Board of Trade a week ago - the purported virtues of the Muskrat Falls deal were not the only items discussed.

The representative of Alderon also extolled the virtues of his own investments while taking some quality time to attack some unknown and some known critics of the hydro deal.

As was predicted by Sue's Blog a few weeks ago - the businessman also took the time to use Russell Wangersky's words to demonstrate how the government and Nalcor have been supplying all kinds of information and that critics may be upset with the media because:

"I don’t think it’s correct to say that investigative work isn’t being done. Perhaps it just hasn’t led to what some people want to hear."

Of course what the businessman failed to mention was the numerous editorials Wangersky has done that have questioned process and details of the proposed energy deal. Then again that would not have satisfied the businessman's argument.


The businessman also talked about his massive land development - set to break ground next year - in the City of St. John's west end. He mentioned having acquired the land 15 years ago and that the development could be worth 5 billion dollars. What land was he referring to? What land was acquired 15 years ago? What land was acquired when the businessman was a politician?

Just as a side note to VOCM the businessman while talking about slander and libel and lies - he stated "we must hold people accountable for their words". Maybe the open-line and back-talk hosts should remember the businessman's words the next time they think about allowing callers like "bob" to out and out lie about a private citizen.

Continuing with the "we must hold people accountable for their words" mantra - how is it that the big deal now is to power mines with Muskrat power and that the potential 15 billion in mining projects in Labrador could be jeopardized if the Muskrat deal is squashed.

Now the businessman - a Director of Alderon - a company that has strict corporate governance for its executive - was clearly following those guidelines by pushing the need for Muskrat to power the mines. When that businessman was the Premier the power was for:

Of the total 4.9 terawatt hours per year of power to be produced, initially 2.0 terawatts will be allocated to the Island to meet domestic demand and to displace expensive, dirty bunker "C" oil used in Holyrood; 

Approximately 1.0 terawatt hours per year, or 20 per cent of the output of Muskrat Falls, will be provided to Emera Inc. for use in Nova Scotia.  

The remaining power will be sold into the Maritime Provinces and the New England market place. Nalcor Energy will be able to sell power in these jurisdictions as a result of gaining existing transmission rights from Emera Inc. The total cost of the project will be approximately $6.2 billion 

Clearly holding people accountable for their words - does not mean much.

Will his words of 6.2 Billion hold-up? It used to be the total cost of the project but now the businessman suggests to us that perhaps 8 billion might be the price.

Now further on the Alderon situation - where the power supply is of critical importance to the development. Was the government of Newfoundland and Labrador under the Premiership of businessman Danny Williams unaware of Kami? No of course not. The day after the businessman announced his resignation as Premier - Alderon announced that it had raised over 16 million on a share offering. Monies raised in part to "advance" its Kami property in Labrador.

And so vested was Alderon Resources in this project - that in October 2011 it changed it's Corporate name to Alderon Iron Ore Corp to reflect that importance.

I do not create the facts - others have. How much in business - big corporate business - is happenstance?

Gary Norris
Danny Williams
Todd Burlingame
Brian Dalton

all to the Alderon Team. They list the acquisition of the businessman as a Director for the company as an impressive accomplishment ranked up there with the 490 million tonnes of ore, pre-tax NPV of over 3 billion dollars, completing a 40 million dollar investment, and commencement of trading on the NYSE.

The laws of the province should reflect a reasonable time-frame for government MHA's, Cabinet Ministers, Premiers, senior officials to become involved with any company that has any interest in a file that the politician/bureaucrat had worked directly with.

The time should reflect the relative power the individuals office had. My suggestion as follows:

MHA's 2 years
Cabinet Minister 4 years
Premier 5 years
Deputy or Assistant Deputy Minister 5 years

All within the span of two years - the former Premier announced a deal to develop Muskrat Falls, became a special advisor to Alderon, became a Director in Alderon, began speaking publicly on the importance of the Muskrat Falls project to Alderon.

The businessman also articulated to the Board of Trade that:

"debate is good"
"asking questions is important"
but
"opposition for the sake of opposition is wrong"
"critics who knowingly put misinformation in the public domain are irresponsible and are a disservice to the people of the province"

The businessman will determine what debate is good, what opposition is acceptable, which critics are responsible?

He then asked "what in the world is to be gained" by Ed Martin or Gil Bennett by forcing a bad project on their own province.

So the businessman will determine that people opposed to the project might have less than honourable intentions but the people who are for it have nothing but the best intentions. Once again Danny will determine that.

He has also determined as evidenced by such remarks - that these individuals can't be wrong, might just be making a mistake.

How many politicians, officials, lawyers, and experts got it wrong with the Upper Churchill?
How many Newfoundland and Labrador Hydro officials and politicians and business people got it wrong when privatization was attempted?

The businessman will be the De Terminator on all these matters?

Then how many times - including in the businessman's speech to the Board of Trade did he state "no more giveaways"? Where's all the ore going Mr. Businessman? How much of the ore will be processed here in Newfoundland and Labrador Mr. Businessman?

Alderon Iron Ore Corp. (TSX: ADV) (NYSE AMEX: AXX) (“Alderon" or the “Company”) is pleased to announce that it has signed a definitive subscription agreement dated April 13, 2012 (the "Subscription Agreement") with Hebei Iron & Steel Group Co., Ltd. (“Hebei”), China’s largest steel producer. Hebei will make a strategic investment into both Alderon and its Kami iron ore project (the "Kami Project") in an aggregate amount of C$194 million, in exchange for 19.9% of the outstanding common shares of Alderon (the "Private Placement") and a 25% interest in a newly formed limited partnership that will be established to own the Kami Project.

A newly formed limited partnership? Who owns that?

The businessman will not influence my decision on the proposed Muskrat Falls project, or the land project, or the fibre optic deal. The businessman will not be the De Terminator of what is legitimate or reasonable criticism - or who is or is not an acceptable critic.

Time for a referendum - without question - and let all FACTS be debated openly. What people determine from those facts - of course - is entirely up to them - not the De Terminator.

Danny Willams - Alderon - Muskrat Falls

What's your opinion?

Code of Business Conduct and Ethics - Alderon 

Below please find a section under: Third Party Relationships - Conflict of Interest
 
Conflicts of interest arise where an individual’s position or responsibilities with the Company present an opportunity for personal gain apart from the normal rewards of employment, officership ordirectorship, to the detriment of the Company. They also arise where an individual’s personal interests are inconsistent with those of the Company and create conflicting loyalties. Such conflicting loyalties can cause an employee, director, officer or consultant to give preference to personal interests in situations where corporate responsibilities should come first. Employees, officers, directors and consultants of the Company shall perform the responsibilities of their positions on the basis of what is in the best interests of the Company and free from the influence of personal considerations and relationships. (emphasis added)

Quote by Danny Williams to Board of Trade - Reported by CBC Newfoundland and Labrador

"I most certainly would not jeopardize years of working for this province or my own personal reputation for the sake of Muskrat Falls or a mining company"

2011 Annual Report Alderon

Section: Management's Discussion and Analysis of Financial Condition and Results of Operations

Alderon depends on a single mineral project.

The Kami Property accounts for all of Alderon's mineral resources and exclusively represents the current potential for the future generation of revenue. The costs, timing and complexities of upgrading the mineralized material at the Kami Property to proven and probable reserves may be greater than Alderon anticipates. Mineral exploration and development involves a high degree of risk that even a combination of careful evaluation, experience and knowledge cannot eliminate and few properties that are explored are ultimately developed into producing mines. Any adverse development affecting the Kami Property will have a material adverse effect on our business, prospects, financial position, results of operations and cash flows The successful start of mining operations at, and the development of, the Kami Property into a commercially viable mine cannot be assured.

Alderon needs to enter into contracts with external service and utility providers.

Mining, processing, development and exploration activities depend, to one degree or another, on adequate infrastructure. In order to develop a mine at the Kami Property, we will need to negotiate and conclude various agreements with external service and utility providers for rail transportation, power and port access, and these are important determinants that affect capital and operating costs. The inability to conclude any such agreements could have a material adverse effect on the Company’s financial position, results of operations and cash flows and render the development of a mine on the Kami Property unviable.
------------------------------------------------------------

Danny Williams sits on the Board of Directors Alderon

Harper touts a "Green Canada" what he means is "Green Canadians"

Stephen Harper is touting that Canada will become a "world leader in the fight" against climate change.

This at the APEC Asia-Pacific Economic Cooperation summit in Australia.

First of all you you have to get past the skepticism that Harper who was a real doubter - not that long ago - that human induced climate change was even real.

Then and far worse than this however - is his ability to give up on principles he claims to hold - for a vote. He either lied to get votes in Newfoundland and Labrador - Nova Scotia - and Saskatchewan before the last federal election or he gave up on staunchly held economic policy to get votes in Ontario and Quebec in the next election.

Stephen Harper is not that special - in fact he believes that breaking a promise to millions of people is not that big a deal - if it means he can form a majority government.

The truth is this self-proclaimed protector of democracy and champion of openness and accountability has done everything to shed that image.

Let's get to Newfoundland and Labrador - Nova Scotia - and Saskatchewan first:

To the Premier of Newfoundland and Labrador - before the last federal election - Harper wrote and signed this:

"We will remove non-renewable natural resource revenue from the equalization formula to encourage the development of economic growth in the non-renewable resource sectors across Canada."

Stephen Harper - Prime Minister of Canada - lied. It's as simple as that. And he did it to gain votes in the last election or to gain votes in the next election.

To make matters worse - the feds and Harper tried to blame the provinces for his lie - by saying the provinces could not agree. Harper knew that before he made the promise and the changes he did make to the equalization formula do not enjoy the agreement by the provinces either. Further the equalization program is unilaterally federal. Adding more fuel to the fire - Harper is an economist and fully understood the promise he made - and fully understands the negative financial repercussions to Nova Scotia - Saskatchewan - and Newfoundland and Labrador.

Let's throw into this mix the changes to Income Trusts - which once again the Prime Minister lied about. This lie impacted seniors and their retirement funds from coast to coast to coast.

The Mr. accountability and protector of democracy - hauls a newly re-elected Liberal (David Emerson) a deceiver in his own right - and places him in a Conservative Cabinet - over long-standing Reform/Alliance/PC members who gave Harper his wings to begin with. Then because major regions in Montreal did not elect a Conservative - he drags up multiple-time defeated candidate Michael Fortier - still unelected - and places him in Cabinet ahead of duly elected members. This is the face of Prince Edward Island remaining without direct representation in Cabinet as the Province did not elect any Conservatives. So a city can have a person dragged into Cabinet but a province cannot?

Now Harper is out trying to "con"vince other nations that Canada will do this or do that on climate change ad greenhouse gas emissions? Let me say to people in these other nations - that anything Harper promised to do - means nothing if Harper needs a vote in Alberta for a majority.

The only thing remotely "green" about Harper is relative to anybody who believes a word he says anymore.

Stupidity

Do you want a definition?

Figure this out - and then figure out how groups like the Humane Society and the likes of Rebecca Aldworth get away with it.

Read the following about joining a boycott to protest our Seal Harvest:

Marie Weir, general manager of Cy's Crab House in Buffalo Grove, which has also joined the boycott, said costs may be slightly higher to buy fish from elsewhere in the world, but the options are out there.

Even the famous Canadian snow crabs can be replaced with those from Russia and Alaska, she said.

"I think it's a good thing to do to help out," Weir said of the boycott. "Everybody in the world thinks they can do anything they want, and then when the world falls apart, it's never their fault. Look at global warming."

This snippet was taken from a story in the Daily Herald in Illinois.

This individual and company is going to buy seafood from other countries despite the price - despite our Canada - USA "connection" because the Humane Society told them the seal hunt was cruel.

This is out of America - suffering through tens of millions of recalled toys - toothpaste - tires - and medical devices/medications from China - yet no boycott of Chinese products - in fact the great American corporate elite flocks to Asia to get dirt cheap labour - in countries with no labour standards or human rights. Their precious stock markets filled with corporations paying children slave wages and working them endless hours - so they can deliver to America - tainted - unsafe - and some cases deadly products. China gets the Olympics and American investment - we get a kick in the guts because we harvest - humanely and sustainably - seal.

That - people - is the definition of stupidity - and probably why an NFL superstar can illegally fight and kill dogs - while "fans" try to forgive him.

That is why the slaughter houses in the United States are not open for unscheduled visits by animal activists - unlike the seal harvest in Canada which is prosecuted in the open on ice flows and waters of the North Atlantic.

Hershey Kiss(off)

Yay for Free Trade - Yay for Free Trade - Yay for Free Trade.

Another 500 jobs lost to Mexico from Ontario - this time it's the Hershey Kiss(off).

Cheaper to do the chocolates in Mexico - I wonder why? Must be the power rates - or maybe its the tax equation - it can't be the labour costs - because free trade was supposed to raise the salaries of Mexicans not lower wages in the United States or Canada - right?

I'm still holding my breath to see what priorities Campbell Soup is going to recommend to the Government of Canada (undermining Canadian values with some warm chicken soup) - or wait the healthcare system might be restructured by Chevron (greasing up private sector delivery) - or wait our education system taking recommendations from Fed-Ex (maybe a speedier delivery)- or wait how about our energy grid getting designed by Wal-Mart (maybe some falling prices or electrical wires).

Let's get a grip here - corporations that have no ability to vote should not be setting our nation's priorities.

They have designed free trade - to move our businesses to Mexico - with our permission - while telling us things are great. What's up with China by the way? Everybody wants to do business there - but they do not have to commit to democracy or human rights - or an open justice system. They can be as insular and undemocratic as they like - but western nations are tripping over each other to get in there.

Free Trade is:

Losing our jobs to Mexico - to enable our corporations to make more money.

Federal Government is:

The mechanism for corporations to change legislation to allow them to move our jobs to Mexico so they can make more money.

Canadian Voter is:

The mechanism for the Liberals and Conservatives to choose which of them can move our jobs to Mexico so Corporations can make more profit.