Record-breaking profit of $589 million at Crown Corporation in 2010/11
Jim Sinclair, President of the BC Federation of Labour, today announced that he will host a “Salute to BC Hydro Workers” at 12:00 noon, Friday, August 26, 2011, at the Queen Elizabeth Theatre Plaza in Vancouver.
- Date: Friday, August 26, 2011
- Time: 12:00 Noon to 1:00pm (Speakers at 12:20 pm)
- Location: Queen Elizabeth Theatre Plaza (Corner of West Georgia and Hamilton), Vancouver, BC
“BC Hydro’s hard-working employees last year helped their company to earn a record-breaking profit of $589 million,” Sinclair said.
“That unprecedented profitability is truly historic,” Sinclair continued, “as BC Hydro’s earnings during the fiscal year of 2010/11 were the highest-ever since the Crown Corporation was created in 1962.”
Sinclair also pointed out that the record profit enabled the Crown Corporation to pay a $463 million “dividend” to the provincial government in fiscal year 2010/11.
“That massive $463 million dividend helped the province to pay for health care and education, environmental protection and justice services, as well as child care, social assistance, transportation and economic development,” said Sinclair.
“The workers at BC Hydro are an under-appreciated asset for the provincial government and, indeed, all British Columbians — and we want to recognize their stellar efforts with our celebration.”
Sinclair said that invitations to speak at the event had been sent to the elected leaders of BC the Canadian Office and Professional Employees’ Union, Local 378 and the International Brotherhood of Electrical Workers, Local 258. He said that invitations had also been sent to Minister Rich Coleman and NDP Energy Critic John Horgan.
