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For the Record Taking Advantage of the Most Vulnerable and Then Passing the BuckA CBC news article by John Paul Tasker, dated May 25, 2020, exposes the fact that the company Revera, one of Canada's largest operators of seniors' residences and long-term care homes, is a "wholly owned subsidiary of the Public Sector Pension Investment Board (PSP), a federal Crown corporation charged with investing funds for the pension plans of the federal public service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force." The PSP was established in 1999 to invest pension funds and generate returns to fund the retirement income of government workers. PSP has $168 billion in assets under management. It is among the largest institutional investors in the country, with offices in Montreal, New York, London and Hong Kong. Revera owns and operates dozens of properties across Canada; it also has major holdings in the United States and the UK, with a portfolio of seniors' apartments, assisted-living and long-term care homes.
In Quebec, Revera jointly owns 33 homes, operated by Groupe Sélection, and has a majority ownership stake in Sunrise Senior Living. In a press release dated May 25, the Montreal Central Council of the Confederation of National Trade Unions (CCMM-CSN) and the Federation of Health and Social Services (FSSS-CSN) vigorously condemned Groupe Sélection for its refusal to retroactively pay health care workers working in private seniors' residences the $2 per hour bonus the Legault government accorded them, beginning March 15. Through the article, we learn that in Ontario, a $50 million class action lawsuit was launched against Revera earlier this month on behalf of the families of COVID-19 victims at the company's long-term facilities. The company is being sued for negligence and breach of contract, with the plaintiffs alleging that the facilities lacked "proper sanitation protocols and adequate testing to prevent the spread of COVID-19." A $25-million class-action lawsuit has also been filed against the company over its operation of the McKenzie Towne Continuing Care Centre in Calgary, where 21 residents have died of COVID-19 and 63 others have been infected, along with 44 employees. On May 25, during the Federal Ministers and Health Officials COVID-19 Update, CBC reporter Julie Van Dusen asked Treasury Board President Jean-Yves Duclos if Revera was still under the Public Sector Investment Board, which reports to him. After Duclos confirmed this, Van Dusen asked him if he was in direct talks with Revera about improving its conditions "considering that it's got a massive law suit against it, and all the deaths from COVID?" "Well," Duclos responded, "there are two things. One, which I cannot comment on [...] is the particular circumstances and details of a lawsuit or a class action. That would be, of course, inappropriate for a minister to comment on. But I can say, however, and as you all know as well and which is very important, is that we are extremely saddened by the difficult circumstances [...] our seniors have been going through in the last few weeks. We know that this requires a level of leadership which is in strong support of the absolutely important responsibility and jurisdiction of the provinces and territories. So although we are mindful of the fact that the federal government needs to be working respectfully, we have signaled a number of times that we want to do whatever we can to support the work of provinces and territories in managing the health sector." This is the kind of liberal doublespeak Canadians have to put up with in the daily government briefings. It is typical of a corrupt authority to not speak straight and to refuse to take social responsibility for anything. Where pension funds are invested is a big problem in Canada. It is large pools of money which are being invested in heinous ventures but all of this is dismissed as "business decisions" and the hoax that what is good for business is allegedly good for Canadians. It shows that the Authority is not in accord with the Conditions and that it is not fit to govern. (With files from CBC News, reveraliving.com, CCMM-CSN, CPAC. Photo SIEU)
This article was published in Article Link:   Website: www.cpcml.ca Email: editor@cpcml.ca |
Revera describes
itself as "a leading owner, operator, developer and innovator in the
senior living sector. Through its portfolio of partnerships, Revera has
several billions in assets and owns or operates more than 500
properties across Canada, the United States and the United Kingdom.
With approximately 50,000 employees, Revera serves more than 55,000
seniors."