The ousted former board chair of the Tłı̨chǫ Investment Corporation wants to be reinstated immediately.
“I still have two years to complete my term, and I still have a job to finish,” Morven MacPherson said on Monday. “The Tłı̨chǫ people are really upset and they want me back on that board.”
MacPherson, who was appointed chair in February 2019, says she was let go on Feb. 5, 2020 via email without warning or reason.
“Just to get an email and no heads up — it really upset me, and it really upset a lot of the Tłı̨chǫ people,” said MacPherson.
The Tłı̨chǫ Government owns the Tłı̨chǫ Investment Corporation. The corporation is meant to work for the economic benefit of the Tłı̨chǫ people. Board members, including the chair, are appointed and removed by the Chief’s Executive Council, which consists of the Tłı̨chǫ grand chief and the chiefs of the four Tłı̨chǫ community governments.
In a statement, the Chief’s Executive Council confirmed it ended MacPherson’s term. A spokesperson said the council “regularly reviews director appointments and makes new appointments to the board from time to time.”
MacPherson said the council replaced her with former Tłı̨chǫ Grand Chief Eddie Erasmus. On Thursday, Erasmus confirmed that he’s the new board chair.
Only woman on the board
MacPherson grew up in Behchokǫ̀, N.W.T., and was the only woman on the Tłı̨chǫ Investment Corporation board.
“I went to … university for six years and for the five chiefs to remove the one lady on the board of six, that’s just not good,” she said. “It’s sending a terrible message to the young people. It’s sending a terrible message to the ladies. It’s just not a good way to operate.”
The Chief’s Executive Council declined to give the reasoning behind letting MacPherson go, but the former chair can think of some possible ones.
“There definitely were personal reasons,” said MacPherson. “I worked with [Monfwi] MLA Jackson Lafferty for years and they’ve not liked Jackson Lafferty for all that time, so automatically they see me as somebody on the other side.”
Laffery represents the Tłı̨chǫ communities of Behchokǫ̀, Whatì, Gamètı̀ and Wekweètìin the Northwest Territories Legislative Assembly. MacPherson worked as his executive assistant.
CBC reached out to Lafferty via email and his office phone line at the Legislature, but did not hear back by deadline.
Morven MacPherson, who was appointed chair of the Tłı̨chǫ Investment Corporation in February 2019, said she was let go on Feb. 5 via email, without a warning or a reason. (Guy Quenneville/CBC)
When asked about MacPherson’s comments on Lafferty, Whatì Chief Alfonz Nitsiza, who sits on the Chief’s Executive Council, said, “That’s her own story, I guess. We have no comment on that.”
Nitsiza also dismissed the questionable optics of removing the only woman on the board. “That’s not how we operate,” he said. “We pick who we think can do the work.”
CBC attempted to call all the chiefs of the four Tłı̨chǫ community governments. Gamètì Chief David Wedowin and Behchokǫ̀ Chief Clifford Daniels could not be reached. Wekweètì Chief Charlie Football referred CBC to Grand Chief George Mackenzie. Mackenzie could not be reached by phone for comment.
Troubled trucking companies
MacPherson’s removal comes as the Tłı̨chǫ Investment Corporation is in the process of selling off assets of two trucking companies it owns, Ventures West Transport LP and Tłı̨ Chǫ Landtran Transport Ltd. The corporation had been loaning the companies money for years.
The companies specialized in ice road transportation and primarily shipped fuel, cement and other supplies to the Northwest Territories’ diamond mines. They’re currently protected from court action against them by creditors while they work to sell around 250 trucks, trailers, shipping containers and shop equipment, according to court documents.
A file photo of a passing truck on a winter road in the N.W.T. Morven MacPherson’s removal from the Tłı̨chǫ Investment Corporation board comes as the corporation is working to sell off assets of its trucking companies, Ventures West Transport LP and Tłı̨ Chǫ Landtran Transport Ltd. (Joanne Stassen/CBC)
Court filings from December say the trucking businesses employed 43 people, all of whom were let go save five, who stayed on to help wind down operations.
The deadline for bids on the assets was last Friday, but the nature and number of bids received is unclear. Mark Brajer, Tłı̨chǫ Investment Corporation CEO, did not respond to requests for an interview.
‘A bit concerning’
Ted Blondin, a Tłı̨chǫ Investment Corporation board member, said it’s “a bit concerning” that the board’s chair was removed during a period of change at the corporation.
“We’ve made some changes to turn the business around, and on debt recovery, and put in stronger policies so the board can be run more effectively and efficiently,” said Blondin.
I was there for every single Tłı̨chǫ shareholder, every Tłı̨chǫ citizen, and every time I made a decision, I always thought of all of those people.– Morven MacPherson, former chair of the Tlicho Investment Corporation board
He said the corporation was in “a big deficit, so we had to make some tough decisions.” Those included selling the assets of the trucking companies to pay off creditors, and changing policies on credit cards, human resources and salaries.
“We were making progress and right in the middle of all that, this happens,” said Blondin, referring to MacPherson’s dismissal. “It means we have to realign our team.”
Blondin said MacPherson was an effective leader.
MacPherson said the board had been working hard to make “positive changes and improvements to the organization.”
“I don’t think they liked that,” she said of the Chief’s Executive Council. “They’re stuck on staying with the status quo, and I don’t believe in that.”
MacPherson said she’s led the board with the Tłı̨chǫ people front of mind.
“I told them when I got on that board I was not there for myself,” she said. “I was there for every single Tłı̨chǫ shareholder, every Tłı̨chǫ citizen, and every time I made a decision, I always thought of all of those people.”
NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.
Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.
“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”
Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.
Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.
Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.
Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.
In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.
The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.
And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
