Citywest question and answer session

Hi everyone,

A lot of people have heard about the question and answer session that Citywest held for the candidates running for council. I have gotten permission from Citywest to share the briefing notes about what was asked and the answers that were given. I have put both pdf files and text copies on my website. This is the link.

Thank you for posting the material giving us a glimpse into what CityWest shared with those in attendance.

It’s interesting that CityWest didn’t just post that material on their website, but, we’ll take what we can get.

Of course, all information is subject to interpretation, hopefully the candidates asked some probing questions into financials and future growth, though I imagine most answers would be provided to best reflect the corporate business plan at the moment.

Citywest is a great company. Everyone agrees. Then why is everyone so afraid that it couldn’t survive on its own?

Thought I read they had a financial plan from a few years back. If so, how did their projections turn out?

Thanks for the update. Any chance of releasing an answer to Chookie’s query?

Hope we arent here again in another few years at election time with citywest making up dream stories.
We should be able to find out how close they were with their last projections, I would think us owners should be given an answer?
Sure lots of ajay type plans at citwest. Will we get same song and dance before next election?

Just curious if anyone out there has a ballpark figure of the value of citywest.

$36,487,801 according to the City’s 2010 financial statement.

Guess our council members seem to lose interest in hackingthemainframe unless it is within a few weeks of election time.

or like everyone else they don’t have to respond all the time

I asked that question on November 11th, didn’t think I was really rushing an answer.
Seems some councilers can answer a few questions when there is an election. Was a few I voted for because they came on here and gave some answers, and this is was something Anna A said and in her own words was going to give "regular updates’,if her 1 post about cleaning up her signage is all that been done since Nov and only update needed guess we in real trouble because sure as heck we would get almost nothing for updates on here unless someone holds them to something they said.

Annas post pre-election
"What I would like to see is some of the newcomers as well as the incumbents using this site or something similar to introduce themselves, post regular updates (e.g. campaign announcements), and allow the rest of us to pose questions

She also said
"In response to the second question:
Are you satisfied with how CityWest performed against its original business plan?

This is an interesting question. To be perfectly honest, I have never been given the original business plan. I have only received updates and feedback on how the company is doing, in addition to their future plans, and this information has generally been shared during presentations to council. I have never seen the original business plan document. I understand that the end result was supposed to be a dividend of $2 million per year to the city, and in my time on council this has not occurred. I am not sure if council has ever received a $2 million dollar dividend. So the short answer is no, I am generally not satisfied with CityWest’s overall performance in light of the fact that the original plan was to provide an annual $2 million dollar dividend-that extra $1 million would go a long way towards improving our deficient roads, water and sewer utilities and other important services".

If she can’t access the information there is something seriously wrong at citywest.

[quote=“chookie”] chookie wrote:
Thought I read they had a financial plan from a few years back. If so, how did their projections turn out? [/quote]

Also, in response to your comments above, unfortunately, you have mistaken someone else’s post for mine. I have never indicated that I was going to be giving regular updates on HTMF. The person who did post the quote that you attributed to me was DWhite, and it was made in the second post, of the first page, under the topic “New council could shift to the left”. (see quote below)

[quote=“DWhite”] Re: New council could shift to the left
by DWhite » Mon Oct 17, 2011 9:05 am

What I would like to see is some of the newcomers as well as the incumbents using this site or something similar to introduce themselves, post regular updates (e.g. campaign announcements), and allow the rest of us to pose questions.

This will be our first election without a daily newspaper so social media has a chance to play a big role. It might also be a chance for the NorthernView to promote more exposure to its online edition.DWhite [/quote]

I believe he was talking about how he would have liked the people running for election to use the HTMF site during the election, however I can certainly see value in sharing information on here and will try to do so when I am able.

I am very willing to answer questions if I am able to, and if I am not I will either explain why I am unable to, or try and find out the answer for you. However, I am not on here all the time, and it is possible that I might miss questions that have been posed unless someone emails me them directly or calls me to speak about them.

My email is : and my phone number is 250-624-5492. I am more than willing to talk to you about issues or questions that you have, as I have always been.

I hope that clears things up.

I hope everyone has had a good start to the New Year.

Thanks for checking back in with some background on CityWest, it is helpful.

Though, the disappointment at the reduction in dividend per year from 2 mil to 1 mil, is minuscule compared to the sizeable write down of debt of a few years back, which was if I remember correctly something along the lines of 20 million, that’s money that didn’t just vaporize, it’s still money spent by the city, so really it will take a long time at 2 million per year (or less) in promised dividends to recoup that business decision.

Still, that’s in the past, not much we can do about that decision, it will be interesting to see if CityWest does share the “business plan” that you have been given access to, hopefully it’s a bit more financially secure that the previous ones.

As for general information sharing, hope you continue to log on and keep us updated, maybe make mention of the forum to some of your other council members, it might be a community access point for a number of them to keep in touch with those that voted for them.

maybe Hacking can have a new section just for questions posed to councillors and for them to answer?

Hope city council can see what is happening to RIM. In 2008 it was the fastest growing company in the world, and now 3-4 years their shares are now at 10% of their highest value .If RIM goes the way of the dinosaur it seems rather evident thAt citywest has almost no long term chance of succeeding. Is just a matter of time before the dividend gets smaller and smaller.
If nobody on our current council can see this, we are are in for another term of going nowhere fast.

thats funny comparing citywest to RIM lol

the sony walkman was hugely popular too but look at it now . look out citywest lmao