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Should the city be responsible for Fred MacGillivray's million dollar pension?

The ticket scandal raises the question: what happens to Trade Centre Limited's $40.7 million deficit?


Thanks to auditor general Larry Munroe, we now know the details of how Fred MacGillivray, who was then the president of provincial crown corporation Trade Centre Limited, lifted the ticket operation away from the city-owned Metro Centre and made it part of TCL's operation. As a result, the city has been shorted about a million dollars, at least; we may discover the figure is much larger, as more details emerge.

As we've reported before, besides the government pension that all provincial employees receive, MacGillivray managed to negotiate an additional bonus pension that last year was valued at over a million dollars.

Given what we know about MacGillivray's culpability with regards to removing the box office receipts from city coffers, it makes no sense for the city to agree to have any responsibility for MacGillivray's pension.

But if we're not careful, the city may soon be on the hook for not just half of MacGillivray's million dollar pension, but also half of Trade Centre Limited's deficit, which last year was $40.7 million.

Let me explain.

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