Management The Master Plan: Biotech player turned Ottawa Senators owner Eugene Melnyk faces off against COVID19

[aragorn]

I find the city's approach to Lansdowne versus LeBreton is interesting

I'd say he sidestepped a nightmare with the downtown arena. I do hope one gets built within 10 years that's downtown somewhere

They like the guys from Lansdowne, they don't like Melnyk especially this mayor. They have been at odds since they gave the Casino to the race track.

 

[Tuna99]

I wish they would have asked him about the downtown arena if he dodged a bullet not getting involved in a major financial endeavor with this pandemic around the corner & how that would have hurt him financially given that they might not have fans for a few seasons? The longer this goes on the more money is being lost by these owners especially those that still have to pay for these arenas to maintain them. Not surprised more & more teams are laying people off.

could be 10 years of multiple Pandemics, you can’t stop building.

 

[JD1]

They like the guys from Lansdowne, they don't like Melnyk especially this mayor. They have been at odds since they gave the Casino to the race track.

Oh ya, i agree

Makes you wonder if the city would invest in an arena with different ownership or with a different mayor

 

[Sweatred]

Good podcast.

That's the longest I've ever listened to him speak. Sounded credible on many fronts

Shocking that an NHL owner and someone who built a billion dollar pharmaceutical company may know a little about hockey and treating viruses.

 

[JD1]

Shocking that an NHL owner and someone who built a billion dollar pharmaceutical company may know a little about hockey and treating viruses.

I bet he even knows about taxes

 

[salomonster]

Interesting to hear EM speak and sound like he knows what he is talking about.

 

[Sweatred]

I bet he even knows about taxes

I bet he doesn’t reside in Ontario...

 

[Masked]

They like the guys from Lansdowne, they don't like Melnyk especially this mayor. .

I wonder who donates to Watson's campaigns and who doesn't but I bet I already know.

 

[AchtzehnBaby]

I bet he doesn’t reside in Ontario...

Most likely here for more than 6 months this year

 

[BankStreetParade]

I find the city's approach to Lansdowne versus LeBreton is interesting

I'd say he sidestepped a nightmare with the downtown arena. I do hope one gets built within 10 years that's downtown somewhere

This city is such a disaster when it comes to conceiving and implementing large-scale developments. What are their signature public projects in the last 30 years? A few KMs of LRT line mired in dysfunction? What a bunch of f***ing losers. I would hate to be an ambitious business person in this city with these doorknobs at the helm.

 

[AchtzehnBaby]

Not a bad interview, at all. Pretty impressive, Euge did good job of keeping it light.

Even Jack liked it.

 

[R2010]

This city is such a disaster when it comes to conceiving and implementing large-scale developments. What are their signature public projects in the last 30 years? A few KMs of LRT line mired in dysfunction? What a bunch of f***ing losers. I would hate to be an ambitious business person in this city with these doorknobs at the helm.

Beats O'brien any day of the week though

 

[Sweatred]

Most likely here for more than 6 months this year

not according to his Wiki page “He resides Barbados, a noted tax haven”.

Eugene Melnyk - Wikipedia

and the extent he went to to lower his taxes

Subscribe to read | Financial Times

May be behind a paywall ... it goes on and on ...

“Early on Mr Melnyk relocated to Barbados, establishing a subsidiary that owned intellectual property for the group. The location allowed Biovail to benefit from the Caribbean island’s very low tax rate of 1 per cent on annual profits over $2m, as well as a Canadian-Barbadian tax treaty which allowed cash to be transferred to the Canadian holding company without incurring a further tax liability.”

 

[Tuna99]

not according to his Wiki page “He resides Barbados, a noted tax haven”.

Eugene Melnyk - Wikipedia

and the extent he went to to lower his taxes

Subscribe to read | Financial Times

he doesn’t want to pay taxes in Ottawa, he just wants the rest of the Ottawa taxpayers to pay for his stadium and give him free land. He’s what’s they call ‘entitled’

 

[AchtzehnBaby]

not according to his Wiki page “He resides Barbados, a noted tax haven”.

Eugene Melnyk - Wikipedia

and the extent he went to to lower his taxes

Subscribe to read | Financial Times

May be behind a paywall ... it goes on and on ...

“Early on Mr Melnyk relocated to Barbados, establishing a subsidiary that owned intellectual property for the group. The location allowed Biovail to benefit from the Caribbean island’s very low tax rate of 1 per cent on annual profits over $2m, as well as a Canadian-Barbadian tax treaty which allowed cash to be transferred to the Canadian holding company without incurring a further tax liability.”

Mr. Melnyk is in Canada. He has been for a while. He goes back and forth, but he is here, currently. He was also here when he did his interview with post media.

Watch the podcast. He talks about it.

 

[Sweatred]

Mr. Melnyk is in Canada. He has been for a while. He goes back and forth, but he is here, currently. He was also here when he did his interview with post media.

Watch the podcast. He talks about it.

What does that have to do with his tax position? Did he say he pays all his taxes as an Ontario resident ?

 

[Tuna99]

Mr. Melnyk is in Canada. He has been for a while. He goes back and forth, but he is here, currently. He was also here when he did his interview with post media.

Watch the podcast. He talks about it.

He’s only on Canada because the courts took his plane away

 

[AchtzehnBaby]

What does that have to do with his tax position? Did he say he pays all his taxes as an Ontario resident ?

Why are you posting these statements? Everyone knows this: The organization pays Canadian taxes. Melnyk’s personal pay cheque is not subject Canadian taxes. As most wealthy people know, you put your money in a tax shelter instead of giving 50% to the government. That’s how you get rich.

 

[AchtzehnBaby]

He’s only on Canada because the courts took his plane away

Nice troll, poo-genius is still doing fine financially.

Hirtz

 

[Sweatred]

Why are you posting these statements? Everyone knows this: The organization pays Canadian taxes. Melnyk’s personal pay cheque is not subject Canadian taxes. As most wealthy people know, you put your money in a tax shelter instead of giving 50% to the government. That’s how you get rich.

.... ehhh ... because you responded to my post suggesting the opposite of what I claimed ... i told @jdi he was probably a Barbados resident for tax purposes and you decided to tell me he’s been hanging out in Ontario.

Everyone knows he hangs out in Ontario, why did you post that statement?

 

[Tuna99]

Nice troll, poo-genius is still doing fine financially.

Hirtz

he’ll always richer then almost anyone on this board, that wasn’t a question. He’s an asshole, that’s his problem. Not his bank account

 

[BankStreetParade]

he doesn’t want to pay taxes in Ottawa, he just wants the rest of the Ottawa taxpayers to pay for his stadium and give him free land. He’s what’s they call ‘entitled’

So he's like, literally, every other wealthy person in the world?

 

[Tuna99]

So he's like, literally, every other wealthy person in the world?

With a free liver to boot and a bunch of middle class people chasing him for their wages - he’s such a great guy

 

[BankStreetParade]

With a free liver to boot and a bunch of middle class people chasing him for their wages - he’s such a great guy

Not a comment that really applies to the overarching topic of wealthy people and tax avoidance. Unless you think Melnyk is unique in that capability.

 

[Tuna99]

Not a comment that really applies to the overarching topic of wealthy people and tax avoidance. Unless you think Melnyk is unique in that capability.

it speaks to his ethics, he doesn’t want to be a part of this community and do his part, he just wants it to make him rich. Even his charity couldn’t stand him

if you have insider info on how he pays his taxes get back to us