Premier Campbell Refused to Disclose Holdings
Other ministers revealed they invest in industries their decisions influence.
Citizens' Services Minister Stewart: Telus investor
Premier Gordon Campbell declined to disclose his stock holdings before the election, but most of his cabinet members did reveal their portfolios. In at least four cases, they hold stocks in industries their ministry does business with or regulates.
Citizens' Services minister Ben Stewart's declared assets include stock in Telus Corporation, a company that has hundreds of millions of dollars worth of business with the ministry he now heads.
The detail is included in the 18 pages Stewart submitted with his statement of disclosure, a form the Financial Disclosure Act requires all candidates for MLA in British Columbia to complete.
Telus subsidiaries were paid some $70 million by the provincial government last year, according to the detailed schedule of payments included with the public accounts for 2008-2009. They include Telus Advanced Communications, Telus Communications Corp., Telus Communications Inc., Telus Sourcing Solutions and Telus Mobility.
Telus' business with the province includes a ten-year, $133 million contract to process the government's payroll and a $245 million contract to connect B.C. communities to the Internet. Both are managed through the Citizens' Services ministry.
Stewart's form does not say how much he or his companies had invested in Telus, and the law does not require filers to include that detail.
Mining head holds mining stocks
Other stocks held by the Kelowna winery owner or his companies include several that either do business with the government or are likely to be affected by provincial policies.
The assets include Bell Canada, Shaw Communications, Rogers Communications, West Fraser Timber, Finning International, Encana Corporation, Fortis Inc., Husky Energy Inc., TransAlta Corp., TransCanada Corp., SNC Lavalin Group Inc., and Shoppers Drug Mart, as well as stocks in several banks and pharmaceutical companies.
Nor is Stewart the only cabinet minister whose public and private interests may overlap. Randy Hawes, who Premier Gordon Campbell in June named minister of state for mining, owned stocks in three mining companies before the election. They include Roxgold Inc., a Vancouver company with a claim north of Hazelton; Rupert Resources Ltd., also based in Vancouver with projects in B.C., and G-4 Resources.
Like Stewart, Environment Minister Barry Penner owns stock in Telus Corp. He also continued to hold investments in several oil and gas firms and funds. Small Business and Technology Minister Iain Black had stock in Rogers Communications, a company whose subsidiaries the public accounts show did over $2 million in business with the provincial government last year.
But while Stewart, Hawes, Penner, Black and most other candidates provided details on their private holdings, allowing the public to decide if they are relevant to their public roles, their boss Campbell did not.
Premier disclosed nothing
The disclosure forms the candidates fill out say very clearly, "List the name of each corporation in which you hold one or more shares, including shares held by a trustee on your behalf."
But instead of being filled out, Campbell's form says, "Prior advice and contents of portfolio not disclosed to the candidate. All trading discretionary and administered by an investment advisor."
The practice is consistent with what Campbell has done with his disclosures under the Members Conflict of Interest Act in recent years, with the consent of conflict of interest commissioner Paul Fraser and his predecessor H.A.D. Oliver.
Disclosures for candidates, however, are mandated under different legislation, the Financial Disclosure Act. A nominee, it says, must file a form specifying "the name of each corporation in which the person or a trustee for the person holds one or more shares." That act appears to make no exception for cases like the one Campbell claims.
The act says a municipal official, public employee or muncipal employee who fails to make a written disclosure under the act has committed an offence with a maximum fine of $10,000. It is not clear how the penalty applies to candidates to be an MLA nor how it is enforced.
The form is collected by Elections B.C. and forwarded to the Legislative clerk's office, but officials in each office say they are not responsible for making sure disclosures meet the requirements of the law.
Most followed law
Despite Campbell's refusal to declare his assets, few of his colleagues have followed his example.
Just Joan Pottinger, who goes by Joan McIntyre and who served as the minister of state for intergovernment relations before being demoted to the backbench following the election, and defeated Attorney General Wally Oppal filed similar statements.
Most candidates filled the forms out in the way the law mandates.
Advanced Education minister Moira Stilwell's investments include, either directly or through her companies, Active Power Inc., Emerson Electric Co., Global Crossing Ltd., General Electric Co., Home Depot Inc., Intel Corp., Oracle Corp., Nortel Networks Corp., CISCO Systems Inc., Krispy Kreme Doughnuts Inc., Compass Minerals International Inc., Diamond Foods Inc., Gilead Sciences Inc., ITT Educational Services Inc. and Netflix Com Inc..
Nortel and CISCO are the two preferred suppliers of computer routers to the provincial government.
Olympics Minister of State Mary McNeil holds an interest in 15 real estate properties in Vancouver, Victoria, Comox, Kamloops, Chilliwack, Delta and Surrey.
Aside from Rogers mentioned earlier, cabinet minister Black's form also says he owned shares in Infowave Software, Stratweb Communications, TransCanada Corp., Lero Gold Corp., Mediterranean Resources Ltd., Black Ink Technologies Inc., AIC and Mackenzie [Financial].
Minister of State for climate action John Yap holds stock in IBM, a company with a 10-year, $300 million contract to provide computer services to the provincial government, as well as some $70 million in contracts with Service BC and the health ministry.
Healthy Living and Sport Minister Ida Chong's assets include shares in Bonaventure Enterprises Inc., Cross Lake Minerals Inc., Crystallex International Corp, Diamondex Resources Ltd., Nortel Networks Corp., Sierra Wireless Inc., Uniserve Communications, Northcore Technologies Inc., Alcatel-Lucent Sponsored ADR, Covidien Limited, LSI Corporation, Tyco Electronics Ltd., Tyco International Ltd., JGI Technologies Inc. and Rhonda Corporation.
Fewer opposition MLAs declare shares
Few on the opposition side of the house reported many assets.
Skeena representative Robin Austin had shares in Rio Tinto Alcan and Methanex. Bill Routley, the MLA for Cowichan Valley held Bombardier Inc. and QLT Inc. North Island MLA Claire Trevena and her partner had stocks in the Bank of Montreal, TD Bank, Penn West Energy Trust and Encana Corporation.
B.C.'s lone independent MLA, Vicki Huntington, representing Delta South, owns shares in the Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Canadian Pacific Railway, Encana Corp., Gennum Corp., George Weston Ltd., IGM Financial, Magna International, Manulife Financial, Nova Chemicals, Petro Canada, Power Financial, Rogers Communications, Sun Life Financial, Thomson Reuters, Toronto Dominion Bank and Trans Canada Corp.
Huntington's assets also include investments in the B.C. Municipal Finance Authority, the Government of Canada, Canada Housing Trust, GE Capital Can Funding, the Province of Ontario, RBC Capital Trust and Blueprint FEE. ![]()



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seth
2 years ago
corruption
Is not found in these dudes stock holdings.
Its in the trading of legislative favours for campaign donations, and implied (never spoken of course) promises of lucrative post politic consulting contracts, speaking tours, board of director appointments and corporate executive positions.
Senate seats are always good as well.
Hermans Hermit
2 years ago
Libs and NDP .. They are All Hypocrites
"Skeena representative Robin Austin had shares in Rio Tinto Alcan and Methanex."
And he's the friggin NDP MLA for Kitimat where Alcan and Methanex have their BC operations.
"Claire Trevena and her partner had stocks in the Bank of Montreal, TD Bank, Penn West Energy Trust and Encana Corporation."
And she's the NDP MLA that pretends to be environmentally conscious but then invests in oil and gas companies degrading BC's northeast environment!
What a JOKE! I hope voters become aware of all of these Lib and NDP hypocrites in the next election. They are all the same.
Viva La BC Visonistas!
OilbertaRedTory
2 years ago
One stock, one vote
If you hold no stocks in these Corporations, you have no say in how they are run; you have no information on how they are run.
The true test of hypocrisy is not stock ownership, but voting record.
"Nothing is more unjust, however common, than to charge with hypocrisy him that expresses zeal for those virtues which he neglects to practice; since he may be sincerely convinced of the advantages of conquering his passions, without having yet obtained the victory, as a man may be confident of the advantages of a voyage, or a journey, without having courage or industry to undertake it, and may honestly recommend to others, those attempts which he neglects himself."
Samuel Johnson
morechatter
2 years ago
Campbell has no respect for the law
In this wonderful country people agree to be governed by a a small number of elected representatives on the basis of respect for the rule of law: that is, we agree to assign our power to a government of laws. Governments and their leaders need to show respect for the law and not disregard the law because it doesn't suit the premier as if the premier is being charged with DUI he is destroying evidence which could incriminate him and others yet nothing happens to the premier. How can that be?
Barryeng
2 years ago
Re; Hypocrites
Robin Austin has never made any bones about his shares in Rio Tinto Alcan. In fact, I remember when he purchased them.. He did so in order to be eligible to attend the Alcan shareholder's meetings, and keep track of their proposed power sales. As it turns out, RTA is well on the track to be more of an Independant power producer than an aluminum smelter, so I am actually glad that we have someone attending those meetings to keep us, the taxpayers, informed on what they are up to.
Don't throw stones until you know whay you are talking about.
Skywalker
2 years ago
Campbell promised...
...open and honest and transparent government. Are we surprised that he would break another promise?
DPL
2 years ago
Seems the guy we shyould be
Seems the guy we shyould be watching is the conflict of interest fellow, whi is supposed to operate under the act. If the act is too loose, time to tighten it up. Sure some folks get a few shares so they can keep an eye on the companies, but buy a lot and the one they are looking after are themselves. Most of us suckers couldn't afford to even think of buying stocks but then again most of us don't get to write and approve laws to cover our asses
Grumpy
2 years ago
Like Duh
What do you expect from the most corrupt government in BC history. Liberal corruption is like a drug addicts crystal meth.
Sleaze, corruption, cronyism, gangsterism are all hallmarks of BC, just like a banana republic.
boots
2 years ago
Bottom Feeders
politicians.....don't matter if they are federal or provincial ,NDP Conservatives or Lieberals they are only in it for the fat pension and the help they can avail to corporate insiders. They feel there above the law and that they are entitled to public money to spend as though it was theirs. Stripping the country of any thing of value and handing it over to the Yanks on a silver platter is another of there favourite pass times. It is time to cull all the bottom feeders out and lock them up. Treasonous Bastards
G West
2 years ago
Umm
Does Minister Stewart wear a rug?
justus
2 years ago
no story here
Is it just me, or is this not a story? Should we be surprised that MLAs have stock portfolios? Maybe we could judge our politicians by what they do instead of worrying about who might influence them. That's more than enough to get upset about.
Surely it's not news any longer that BC Liberals twist the rules to suit themselves, so if Gordon Campbell doesn't tell us what's in his stock portfolio, we can't be surprised. Anyway, it's not news that he and his government are beholden to various corporate interests: we need merely consult the Elections BC website and check which interests fund the party.
And Herman's Hermit: Cheap shot, and unworthy. Anyone who thinks Claire Trevena would be influenced politically by the stock portfolio holdings of her partner doesn't know Claire at all!
Karen D.
2 years ago
Why should Campbell divulge
Why should Campbell divulge his investments? Didn't you know that the rules were not written for him? For example:
*His DUI didn't hurt his career
*He acted like he had carte blanche to sell off crown corporations (under very suspicious clouds)
*Shuts down departments that are in his way such as BC Tourism, I'm sure to get his paws on the lucrative hotel tax
*Lies repeatedly to British Columbians
*Breaks legal contracts with healthcare workers
*Makes promises of funding and reneges at the last minute
*Awards himself gargantuan raises
*Dumps on the poor, elderly and the young and justifies his actions by saying that paying off the deficit fast is more important
*Is trying to force through IPPs even after his scam is shown to benefit mostly his financial backers
*Gives crown lands on Vancouver Island to developers in exchange for ???
*Is intent on forcing the HST on us even though he has very little support and he is supposed to work for us
*Is destroying wild salmon by strongly promoting fish farms
*Destroys government information to cover up shady deals
*Supports huge increases in on-line gambling limits knowing it will destroy families
*and the list goes on....
I think this sorry excuse of a premier should be forced to divulge his investments or face an all out investigation - I'm sure he has a very interesting porfolio.
nechakogal
2 years ago
perhaps if there were alternatives ....
"Its in the trading of legislative favours for campaign donations, and implied (never spoken of course) promises of lucrative post politic consulting contracts, speaking tours, board of director appointments and corporate executive positions".
I agree, there are no limits to the potential for corruption in government. People have to be blind not to recognize it. The question I just can't find an answer for is why so many people are prepared to tolerate a premier who refuses to give complete disclosure of his assets, let alone an incident of drinking and driving? These kinds of society leaders should be held to a higher standard.
Perhaps the reason he is still there is that no better alternatives are being offered? Anyway, this is exactly why we need the kind of reporting alternative news agencies offer. Don't bother seeking any real kind of accountability in mainstream media, because they are all in business with each other.
mary jane
2 years ago
who?
In one way or another they are all against the tax payers / voters So who do you vote for amoung this group of less than honest group? Where is Bennet senior? or someone with the same concerns, ethics, desire to do what is best for the province and those who live here.
alive
2 years ago
Anybody but
Bennet senior? you mean the bible thumper?
You would have a hard time to find a more concieted person anywhere!
Your problem is that you refuse to consider candidates who represent working people and have no intention to favour the big shots.
sunshine coast girl
2 years ago
See the new Fight HST You Tube video
http://www.youtube.com/watch?v=0RsRLFv6jC8&videos=Sj0JIb51zJ0
The Blackbird
2 years ago
Forget the recall. Can't we
Forget the recall. Can't we lay corruption charges? How much more can people take?
MacKenna
2 years ago
Why is this blatant conflict of interest allowed?
I'm speechless. Laws need to change around here.
Bob Watts
2 years ago
Lets See
So if the NDP are in power and they pass laws that help the common person thats 95% of the population, then thats bad and evil. Now if a right wing bunch of business people take power, then transfer all the assets of the province to their friends and cut all their taxes, then thats OK. PS: Campbell benifits directly by this tranfer of wealth to himself!
Guess the only conclustion must be that 95% of the population are brainwashed and or are just plain stupid for voting to give the rich all the wealth.
So homelessness, food banks, closing schools and hospitals are all within the master plan to keep the rich, rich, and the poor stupid, hungry, in debt, and in an early grave, as soon as possible.
Sounds about right.
alive
2 years ago
fools
Bob Watts: You got it!
People are brainwashed to think that one day they too will be rich, and benefit!
It is like to trying to crawl up a ladder and constantly kicking the people below you on that same ladder.
The idea that everybody could just stay on the ground and share seem too much to grasp.
Skywalker
2 years ago
Right on Bob Watts.
I think you got it. You keep the poor preoccupied with just trying to survive while you create more benefit for yourself and your friends. The poor can always hope they win the lottery and the media will convince them that everything is as it should be. The upper class will look after themselves thinking they have some divine right to their position. No matter what devious means they use to exploit the poorer sector of society, their position is achieved by merit.
sicntired
2 years ago
It'sbeen done before
Correct me if I'm wrong but isn't this the exact trick Bill Vander Zalm tried to use to evade the deal over Fantasy Gardens?Politicians might start out with some naive belief that they are doing public service but it only takes one term to end that illusion.For career politicians there are no such illusions as they get in knowing where the money is.How can someone that makes the laws invest without insider knowledge?They can't.The Premier is especially vulnerable to charges of corruption so why not create a so called blind trust and pretend you don't know what you own at any given time even though you own it from day one.The only ones blind to the holdings are the public and by some coincidence the 5th estate.