GREY:NMKEF - Post by User
Comment by
furiousmaton Nov 20, 2019 11:48am
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Post# 30374056
RE:Construction in Quebec
RE:Construction in Quebec
1976 olympic games cost overrun were a combination of corruption and the fact that they were super late and had to pay people ridiculous wages, forgo any negotiation process on anything they were buying, and didn't have the time to setup proper monitoring of the construction sites.
They got bled out because of poor planing.
To say corruption is considered normal is quite a stretch. You're talking about the province in the country that took the most steps to fight off corruption in the construction industry in the last decade. Corruption is widespread, but it's certainly not seen as normal.
And unions didn't kill Nemaska. Or would you provide any evidence that this is what caused the problems we are seeing? Are you seriously suggesting that the $375M hole they got in their budget is because of unions? That's laughable.
Nemaska is in trouble because their terrible management drastically underestimated the cost of the project, got terrible financing deals, and destroyed any remaining investor trust by straight up lying about project advancement and the state of their finances to get shareholders to vote them huge raises.