How the Ford Fiasco Jeopardizes Toronto’s Financial Future

Taking office on a promise of fiscal responsibility, scandal-plagued mayor Rob Ford threatens Toronto’s reputation and future prosperity. Adam Giambrone shares insights from some of Toronto’s business leaders and financial experts.
November 15, 2013, 8am PST | Kasper_O_Koblauch
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"...Turning [Toronto] into the butt of a worldwide joke could cut dangerously into the city’s prosperity," writes Adam Giambrone. "It’s a strange turn of events for a mayor who electioneered on his business smarts, uses fiscal responsibility as his calling card and deems himself a champion of job creation."

“Toronto has reasonable taxes, an educated workforce, good proximity to markets and decent infrastructure," he continues, "but Ford’s travails are creating a sense of crisis and instability, and the longer that goes on, the more unattractive [Toronto will] become.” 

"Objectively, the mayor’s activities – from murder-threat rants to drunken stupors – should not affect investments, but there are always factors in decision-making, my sources say, that aren’t based only on hard facts." 

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Published on Thursday, November 14, 2013 in Now Magazine
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