ALASKA HIGHWAY NEWS
THURSDAY, JULY 7, 2022 | NEWS | A7
West Moberly to be compensated over Site C dam Nelson Bennett nbennett@biv.com West Moberly First Nation is being offered a settlement package that includes Crown land in compensation for impacts from the Site C dam project. According to a joint press release issued by the B.C. and Canadian governments and BC Hydro, West Moberly First Nation, a Treaty 8 signatory, is being offered “a partial settlement” that includes land and financial benefits in exchange for dropping a civil suit that the First Nation has against the Site C dam project. The million-dollar question is how much the settlement is worth, who pays what and whether it will contribute to any escalations of the Site C dam’s already bloated price tag of $16 billion? West Moberly Nation Chief Roland Wilson told Business in Vancouver that the details of the agreement haven’t been fully worked out yet, so it’s hard to put an exact dollar figure on the settlement. “There’s an ongoing negotiation happening right now, so we don’t know what the end result of this will be,” he said. “The land settlement
BC HYDRO PHOTOS
Above, construction on the penstocks for the Site C dam is nearly complete. Below, bridge construction at Cache Creek, and an inside view of the powerhouse.
for Site C is equivalent to what all the other nations have received. There’s a cash compensation piece that equivalent to all the other nations.” The settlement includes: - an impact and benefits agreement between BC Hydro and West Moberly; - two agreements between BC Hydro and West Moberly
providing West Moberly contracting opportunities; and a tripartite land agreement, between the Province, BC Hydro and West Moberly As part of the agreement, West Moberly will drop its claim against the Site C dam project and the federal government.
The West Moberly claim that the Site C dam and other dam projects on the Peace River constitute an infringement on their treaty rights. Wilson blames the creation of the Williston reservoir for the W.A.C. Bennett dam for declining caribou populations in the area, and the loss of fishing.
“We haven’t been able to hunt the caribou for quite a few years now,” Wilson said. “That’s a direct infringement.” As part of the settlement, West Moberly agrees to “pause” its claim against the provincial government and “place it in abeyance.” “These agreements are an important step in advancing this relationship between West Moberly First Nations and BC Hydro as we move away from litigation,” said BC Hydro CEO Chris O’Riley. West Moberly lost a judicial review in 2015 aimed at halting the Site C dam project, underscoring the fact that governments are allowed to infringe treaties for projects deemed to be in the public’s interest. However, First Nations can sue if they feel they have not been properly compensated for those infringements, which is what West Moberly did. But rather than continue to seek compensation through the courts, West Moberly agreed to a negotiated settlement. “The decision to settle this part of the court case was taken with a heavy heart and with serious considerations of the best interests of our community,” Wilson said. -Business in Vancouver
Doig, Blueberry sign historic TLE agreements Tom Summer tsummer@ahnfsj.ca Blueberry River and Doig River First Nations gathered Monday to sign a historic treaty land entitlement agreement more than 20 years in the making, settling land debts still owed from the signing of Treaty 8. Chiefs and councils signed the settlement agreements with each other, the Government of Canada, the Province of British Columbia, and the Province of Alberta, moving their communities forward into a new era. Over 5,000 hectares of land will be returned to the two nations, including land near K’ih Tsaa?dze Tribal Park and Petersen’s Crossing. Doig Chief Trevor Makadahay said the signing honours elders and councils from generations past, with many not being able to see their work come to fruition. Just a fresh young band councillor in 1999, he says their struggles should never be forgotten. “It’s really important,
TOM SUMMER PHOTO
Chief Trevor Makadahay and Chief Judy Desjarlais in the Doig River Tea Dance Arbour with their respective councils during a historic treaty land entitlement agreement signing the Government of Canada, the Province of British Columbia, and the Province of Alberta, June 27, 2022
especially for both communities, that we remember the people we lost – we have to think back about them. They’re the ones that struggled and they
don’t see any of it, they don’t see the cultural lands we all picked in territories to take care of,” said Makadahay. Makadahay expressed his gratitude for the legal
groundwork laid by his elders and his community, noting the inaction by government. In 1999, the nations submitted their claim to the federal government to settle
outstanding land owed through Treaty 8. By 2004, the Crown had accepted the claim for negotiation. “I think back about all the tough times we had, and all the promises the government made us. In 2005, we actually bought some property in Fort St. John, six acres of industrial land. And the government said, ‘next year’. We’ve been here ‘next year’ for 23 years, and finally we’ve got some documents to sign,” he said. Blueberry Chief Judy Desjarlais says the lands included in the settlement reflect values identified by their members, wishing that past Blueberry leaders could see their vision come to life. “With the two nations coming together and being united in the end goal of what our people actually want - to get this settled. We did lose a lot of elders that contributed to this case and what we want to see is elders who are still with us see this day to pass.” she said. “History has been made today.” -Local Journalism Initiative
ALASKA HIGHWAY NEWS
A12 | NEWS | THURSDAY, JULY 7, 2022
A cooler, wetter June Dave Lueneberg sports@ahnfsj.ca If you thought June in Fort St. John was cool and wet, you’d be right. Maybe, not recordbreaking, but it certainly didn’t feel like spring or summer for much of the month. On only 15 days did the temperature at the city’s official weather station actually climb above 20 degrees, and on just two, the mercury just barely reached 14 degrees. Compare that to last year, during the province’s heat DAVE LUENEBERG PHOTO dome, where the daytime BEACH VOLLEYBALL— Kiera Johnson, Olivia Phibbs, and Madison Webster stay cool while playing a game of highs from June 25-30 were volleyball near Peace Island Park, June 30, 2022. Banjo, a three-year-old Blue Heeler Aussie, decided to wander all above 30, peaking at 38.1 over and even up the teams.
on June 29. For this year, though, the highest temperature in June was on the last day of the month at 26.9 degrees; ironically, the coolest mark came on the first day, an overnight low of 5.2. Rainfall for June 2022 was slightly above the average of 45 millimetres at (exactly) 60 millimetres – the wettest day, the 17th, saw the rain gauge record 17.4 mm, most of it in a 14-hour window. Except for Canada Day, a warm-up is on the way, with temperatures for the first two weeks of July expected to be in the 20s for daytime highs; overnight lows, meantime, will be in the double digits.
Smart Money: Asking good questions
I
had a fantastic Father’s Day this year. My daughter had a sports tournament in Edmonton, and we had some wonderful Dad & Daughter time. I am not a fan of the long car ride, but this one was good. My kid and I had some meaningful conversations, something that can be hard to do in the hectic pace of regular life. Somehow, we got onto the topic of my work, and my kid asked me a really thoughtful question. Now, I get asked questions all the time, but this one was a little different. She asked me to tell her why a stock goes up. Here’s what I mean by this question being a little different. When I am having financial conversations, people are sometimes reluctant to ask what is really on their mind for fear of appearing silly or stupid. Sure, they may toss out a couple of superficial questions, but often people have judgment anxiety, and it holds them back. This is not an ideal scenario. If people have questions about their money, who should you talk to if not a professional financial planner? It’s not silly to ask a question, it’s silly not to ask, yet this happens all the time. But there is another situation that I see too. It’s the person who thinks they know far more than they actually do. These folks don’t really ask good questions either, but now it’s because they think that they are experts already. This is also not an ideal scenario. If people have questions about their money, who should you listen to if not a professional financial planner? Its not silly to ask a question, its silly to think you know it all already, yet this also happens all the time. So, here is the cool part about my kid asking me to tell her why a stock goes up. There was no pretense. There were no preconceived ideas. There was no agenda. She asked this question with genuine curiosity, and the question is incisive. Why does a stock go up? That’s a good question. How I chose to answer it is with a quote from Ben Graham, the mentor of Warren Buffett. Graham said, “In the short run, the market is a voting machine but in the long run, it is a
BRAD BRAIN weighing machine.” What Graham means by saying that the stock market is a voting machine is that, in the short run, the stock market is a popularity contest. When an idea captures the public imagination, all kinds of wacky things can happen. The last couple of years have proved this, yet again, to be true. Crazy speculations with no basis in fundamentals are bid higher and higher, simply because they are fashionable. People are voting their money. But the opposite is also true. Investments can be out of favour, and prices collapse because people are still voting their money, but this time they are voting to stay away. In the short run, the market is a voting machine. What is popular does well, and what is unpopular does not. But in the long run, fundamentals matter. It’s the quality of the business that will shine through. Or the absence of quality will shine through. In the long run, the market is a weighing machine, with the share price determined by the substance of the business. You won’t see a company that loses money indefinitely have their share price rise indefinitely. There has to be something to support it. But the opposite is also true. You usually don’t see a company that makes a lot of money have its share price languish indefinitely. Moneymaking companies are valuable asserts, and some people, eventually, will want a piece of the action. Why does a stock go up? Great question. The complete answer is that this happens for different reasons. In the short run, the stock market is a voting machine, but in the long run it is a weighing machine.
DAVE LUENEBERG PHOTO
SOAR LIKE AN EAGLE — Dawson Creek’s Cheyenne Clark takes part in an Indigenous dance demonstration Canada Day at the Festival Plaza stage in Centennial Park. This year’s celebration was shared by the City of Fort St. John and Treaty 8 Tribal Association.
Freedom of the City for Jean Dave Lueneberg sports@ahnfsj.ca The City of Fort St. John has recognized a wellloved, hardworking former community leader. Jean Leahy was posthumously honoured with the Freedom of the City award last Tuesday evening during a brief ceremony attended by close to threedozen people. “Jean is a woman who never took no for an answer,” said mayor Lori Ackerman. “If I may say, was like a dog with a bone and when she saw something that needed to be changed for the betterment of society, she took that on.” Margaret Little described her long-time friend in another way. “Jean always put the community first. Family, friends, community – that was her mantra.” And, her passion for the
community is evident with the North Peace Leisure Pool, the North Peace Cultural Centre and the Fort St. John Public Library, added Little. “Anything that would benefit children, women, and the community, in general.” “She made the best pickled beets,” shouted Theresa Rodgers in one of many light-hearted moments on the evening, in response to the mayor’s question – would anyone like to share something about Jean? Both Theresa and husband, Ron, fondly remember the friendship they had – Ron, while on the chamber of commerce board. “The chamber took a stance against proportional representation that the government was trying to push at that time. It was so much fun to watch her do
her stuff,” joked Ron, when seeing Jean in action. “She was our friend. She was our friend and supporter,” chimed in Theresa. Former mayor, councillor, and RCMP member Jim Eglinski is one of six Freedom of the City recipients and was awarded with the same honour in 2021. From his home in Edson, Alta., he was also asked how he remembers the tireless advocate. “She was outstanding. She believed in working for the community. She gave her all to Fort St. John and the (Peace River Regional) district,” Eglinski explained. “The one thing about Jean is she gave her heart and soul to the community.” The city had originally planned to honour Leahy for her accomplishments in 2019, but had to hold off until this year due to the pandemic.
Brad Brain, CFP, R.F.P., CIM, TEP is a Certified Financial Planner in Fort St John, BC. This material is prepared for general circulation and may not reflect your individual DAVE LUENEBERG PHOTO financial circumstances. Brad can be reached at www. Fort St. John mayor Lori Ackerman presents a plaque to the family of Jean Leahy after awarding the late, longtime community advocate with the Freedom of the City at a ceremony June 28, 2022 at City Hall. bradbrainfinancial.com.