I'm mixed on this one.
1. From today's conference, it is clear Bowman knew more about the deal than he lead on. It was pretty clear from the video where the location was, so it was disingenuous for him to have said that it wasn't clear where the development was. I think he needs to reign in his tough guy image and be more factual.
2. Chipman took advantage of an opportunity, but was also being disingenuous that he wasn't capitalizing on inside information - this was a classic case of inside information. He was on the board to become aware of the deal and it was never advertised to other potential developers. If someone out there wanted to have a shot at development (outside of the Stuart Olson arrangement), they never had the chance. This is a classic backdoor deal regardless of how you dress it up.
And then it gets even more fishy:
3. The deal states that TN will buy the land from the city at fair market value - however this is after the existing building has already been demolished and centre venture has already bought the land. The fair market value is tainted at this point, and it's tough to read whether the city (tax payers) will actually be getting a "fair" value for the lot.
4. TN has been talking about building a hotel on their lot on Carlton for a couple years now. The fact that Stuart Olson was unable to find a hotelier for the other Carlton lot might be directly related to the fact that it has been public that TN was planning to build a hotel right next door - no one else in the city has deeper pockets than TN and this is a good reason for a hotelier to not opt-in.
5. TN has bid to house the new Liquor and Lotteries headquarters - it is not clear if this is on the same property. If it is (i.e. they would be an anchor tenant), then essentially a good percentage of their commercial space would be taxpayer funded through a provincial crown corp. Taxpayer dollars are getting involved from multiple avenues (potentially).
The government is involved in land deals at so many levels (either via the City, city-owned businesses like CentreVenture, provincial crown corps, etc.) that I think we all need to be really concerned with how all these transactions are really going down. At this point it just seems like Chipman and Bowman are now fighting a popularity contest in the media, and things just don't seem right to me...