SNC-Lavalin

[BerserkerCatSplat]

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Trudeau will just change the rules so they can keep giving contracts to SNC.

Nothing to see here.

Oh they're way ahead of you here. As I understand it, only SNC-Lavalin Construction plead guilty, which is a distinct legal entity from SNC-Lavalin proper. SNC-Lavalin Construction is barred from bidding on Canadian government contracts for 10 years, but the parent SNC-Lavalin will be under no such restriction. SNC-Lavalin is also free to spin off a new Construction group (let's call it SNC-Lavalin Construction Canada) and have it bid on Canadian government contracts.

So, in effect, zero consequences apart from a tiny fine that is far less than what SNC profited from the corrupt contract, and is therefore just a cost of doing business. This is why share prices spiked.

[Cagare]

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Oh they're way ahead of you here. As I understand it, only SNC Construction plead guilty, which is a distinct legal entity from SNC-Lavalin proper. SNC Construction is barred from bidding on Canadian government contracts for 10 years, but the parent SNC-Lavalin will be under no such restriction. SNC-Lavalin is also free to spin off a new Construction group (let's call it SNC Construction Canada) and have it bid on Canadian government contracts.

So, in effect, zero consequences apart from a tiny fine that is far less than what SNC profited from the corrupt contract, and is therefore just a cost of doing business. This is why share prices spiked.

I had honestly wonder about this. I thought the possibly that was the parent company, but it would make total sense for them to please guilty and then get the other charges dropped.

Excellent way to sweep it under the rug if that were the case.

[msommers]

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Oh they're way ahead of you here. As I understand it, only SNC Construction plead guilty, which is a distinct legal entity from SNC-Lavalin proper. SNC Construction is barred from bidding on Canadian government contracts for 10 years, but the parent SNC-Lavalin will be under no such restriction. SNC-Lavalin is also free to spin off a new Construction group (let's call it SNC Construction Canada) and have it bid on Canadian government contracts.

So, in effect, zero consequences apart from a tiny fine that is far less than what SNC profited from the corrupt contract, and is therefore just a cost of doing business. This is why share prices spiked.

Haha holy shit....

"You're mad at msommers_x you idiots! msommers_z is a really straight up guy and wouldn't hurt anyone!"

[BerserkerCatSplat]

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Haha holy shit....

"You're mad at msommers_x you idiots! msommers_z is a really straight up guy and wouldn't hurt anyone!"

That's pretty much exactly it.

In a statement, SNC said its SNC-Lavalin Construction unit will plead guilty to a fraud charge.

As part of the settlement, all charges against SNC-Lavalin Group Inc and its international marketing arm, SNC-Lavalin International Inc, have been withdrawn, the company said.

[dirtsniffer]

Trudeau figured it out

[lilmira]

Which one, Trudeau black or Trudeau white?

[revelations]

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Which one, Trudeau black or Trudeau white?

[D'z Nutz]

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Which one, Trudeau black or Trudeau white?

You must spread some Reputation around before giving it to lilmira again.

[Cagare]

https://www.cbc.ca/news/politics/tru...alin-1.5401353

So basically, they got nearly exactly what would have been included in a DPA without getting a DPA. I really hope journalists are digging into this further cause you have to wonder if Lametti instructed the DPP to move forward with this.

[Xtrema]

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Trudeau figured it out

Only after Jody said no to plan A tho.

This should have been plan A all along.

[killramos]

I would love to see the opposition throw a curveball in this where they ban SNC from future contracts anyways.

I guess Libs + Bloc could veto it anyways.

[Cagare]

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Only after Jody said no to plan A tho.

This should have been plan A all along.

Exactly, no one would pay attention to this at all.

This may sound funny, but I don't trust a government that can't even get a simple cover up right. Honestly, you never needed to bury DPA legislation and push Jody to use it. You could have simply stated to the lobbyists, plead guilty on one charge, we will absolve the rest, you pay a fine and we all move on. The trouble with the DPA would be that it requires ongoing monitoring, this situation requires nothing after the settlement, everyone goes about their business.

[ExtraSlow]

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This may sound funny, but I don't trust a government that can't even get a simple cover up right.

Yep, I'm a cynical bastard, and I don't expect governments to be ethical, but I do expect them to be efficient at their unethical behavior.

[schurchill39]

I've got a friend who works for Trans Mountain and she said that as of December 31 they are no longer permitted to do any work with SNC and from what she has been told that was a direction from the government. She's been dealing with rebidding a bunch of different environmental contracts in a bit of a rush before Christmas here.

[CompletelyNumb]

Just in case anyone was wondering how the small company of SNC-Lavalin has been doing...

https://calgarysun.com/news/national...1-74c20523f56c

[ExtraSlow]

This company always in the news.
https://nationalpost.com/news/local-...4-31e4ed02f199

[Brent.ff]

I really need to get on the receiving end of one of those bribes is all i know..

[ExtraSlow]

Are you a Laurent?

[Xtrema]

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I really need to get on the receiving end of one of those bribes is all i know..

Buddy of mine has been with SNC since 2016 after O&G gigs dried up. So trickle down bribery works?

[pheoxs]

SNC pays bribe to government to avoid prosecution for paying a bribe. Sounds about right.

29m fine for a 128m project. Still probably profited.