Higher tolls on the Mainline pipeline system helped pipeline giant Enbridge Inc. earn a profit of almost $1.3 billion in the third quarter, more than twice the $532 million it posted in the same period a year ago.
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Well... in their defense, you don't stop trying to yank the company into being more financially careful just because you have a good year. Spending like the money never ends is what the company did from 1995 to 2013, leading to the bloated monstrosity of redundancy and excess that needed to be dealt with.
Optically it's not great. But net profit and streamlining should not be closely tied.
What a F**CKING hypocritical bunch the executives of Enbridge!
Back when profits were down in 1st quarter of 2020 we front line workers all took a 3% pay cut.
When profits come in to be record in another quart now 4 years later.
There is not a damn thing done by GE or his multimillion dollar VP group to show it back.
No wonder morale is nonexistent.
Yes they are still laying people off like myself a month ago.
This is pretty important:
Enbridge's adjusted core profit from gas distribution and storage was up 92.6% at C$522 million in the quarter, helped by the acquisitions, which contributed C$217 million.