Its 2017: what case can be made for the Government to be in the broadcasting business, competing unfairly with the private sector? The CBC receives advertising and cable/satellite fees-fees greater than CTV and Global but this is not enough for the greedy CBC who also receive more than a billion dollars of your tax money. And now the new Trudeau Government has promised at least an additional $150 million dollars a year to this biased, wasteful government broadcaster. As is, Taxpayers continue to be hosed to the tune of about $100,000,000 (yes, 100 MILLION) of our taxes every 30 days with no CBC accountability to taxpayers as they continue with their biased news service serving only the extreme socialists and anti-Semitics. Wake up Canada!

cbcExposed continues to hear from confidential sources inside the CBC about the "scandal du jour" and we will continue to expose their reports of waste, abuse and bias while we protect our sources. We take joy in knowing CBC-HQ visits us daily to research our stories such as the CBC Sunshine List, ongoing scandals including the epic Dr. Leenen case against The Fifth Estate (the largest libel case ever awarded against the media in Canadian history) where no one at CBC was fired and taxpayers paid the award and legal costs for this CBC Libel action. Writers and filmmakers take note-this is a Perfect story for a Documentary!

cbcExposed continues to enjoy substantial visitors coming from Universities and Colleges across Canada who use us for research in debates, exams, etc. We ask students to please join us in this mission; you have the power to make a difference! And so can private broadcasters who we know are hurting from the dwindling Advertising revenue pool and the CBC taking money from that pool while also unfairly getting Tax subsidies money. It's time to stop being silent and start speaking up.

Our cbcExposed Twitter followers and frequent visitors to cbcExposed continue to motivate us to expose CBC’s abuse and waste of tax money as well as exposing their ongoing left wing bully-like news bias. Polls meanwhile show that Canadians favour selling the wasteful government owned media giant and to put our tax money to better use for all Canadians. The Liberals privatized Petro Canada and Air Canada; it’s time for the Trudeau Liberals to privatize the CBC, not give them more tax money.

What does it take for real change at the CBC? You! Our blog now contains a link to the Politicians contact info for you to make your voice heard. Act now and contact your MP, the Cabinet and Prime Minister ... tell them to stop wasting your money, and ... sell the CBC.

Wednesday, May 14, 2014

CBC pension ponzi exposed by funding cuts

Teeth are being gnashed over the loss of staff and programming, but these cuts pale in comparison to the costs of propping up the CBC’s pension ponzi scheme. How will it fund its current pension solvency deficit of $801 million (2010), which is more than double the $382 million deficit the previous year?

In 2010 employees contributed $26.9 million while $51.2 million was added by taxpayers. The split is supposed to be 50/50, but CBC has chosen to ask taxpayers to fund the deficit without asking employees to contribute more. To properly fund the pension solvency shortfall, the CBC, under normal accounting rules, would be required to fund an extra $160 million each year over the next five years.

The CBC pension is a mature plan with more retirees receiving money from the plan (9,066) than employees paying into the plan (8,086). Every employee fired from CBC increases the cash required from taxpayers to prop up a plan that is flawed by design.

Much of CBC’s pension problem can be attributed to a highly controversial decision to allow “retroactive” pensions to employees who previously did not qualify for them. Under a program called “buy-backs” starting in the early 2000s, members of the ACTRA union were allowed to purchase pension credits in the CBC plan, triggering a lucrative – but underfunded – guaranteed pension.

Read the full story.

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