Stone Mason, Canadian ExPat living in the UK, Hobbyist musician.

  • 15 Posts
  • 2.43K Comments
Joined 3 years ago
cake
Cake day: July 7th, 2023

help-circle






  • Bribery

    In 2013, a Brazilian prosecutor filed charges against the company’s local division, alleging the company paid bribes to local officials, which is also a violation of U.S. federal criminal law. The bribes were allegedly used to pave the way for Brookfield to build a shopping center in São Paulo. The U.S. Securities and Exchange Commission also opened a formal investigation into the company about the bribery charges. The company denied the charges. The U.S. Department of Justice also opened a criminal investigation into the company regarding these allegations, and did not end up making any arrests.[63][64] According to the Stanford Law School Foreign Corrupt Practices Act Clearinghouse, which studied the case, the investigation and filing of charges was initiated by a whistleblower and anonymous tip. Later it was revealed that the whistleblower was the former CFO of a Brookfield subsidiary. She claims she was fired for refusing to participate in Brookfield’s bribery scheme.[65] The company disclosed the investigations on several 6-K forms between 2013 and 2015.[66]

    Circular cash flows

    A March 2024 article in the Financial Times criticized Brookfield for its complex structure and its circular flows of cash after buying and selling multiple properties to itself at high, pre-pandemic valuations. The conglomerate executed dozens of internal transactions, including a $1.4 billion sale of real estate stakes to its insurance arm, supporting its “distributable earnings” metric tied to its $90 billion market capitalization. Brookfield Property Partners, a subsidiary, reported $2 billion in losses for the first nine months of 2024, yet contributed significantly to these earnings. Critics argued these deals masked losses in its commercial real estate portfolio and lacked transparency. Brookfield replied that they were not deceiving anyone nor hiding anything and that the newspaper mischaracterized its business.[67]

    ¯_(ツ)_/¯ maybe sketchy dealings?

    I wandered in from all…this is not financial advice, nor is it likely to be a realistic answer.


  • I keep expecting Dickensian high jinks and a pick-pocketing mentor with a heart of gold.

    Uhhhhh…mind putting in a good word for me when they turn up?

    Yeah, it’s rough. My dad’s been on extended medical leave, in and out of hospital, but is having to consider going back to work before he’s actually appreciably better because he’s not able to afford just living on the benefits he’s receiving. If I could send money his way I would but we’re struggling ourselves, so it’s not an option on a regular basis.


  • We moved from London to Edinburgh mid 2022. We uhhhh…have a lot of shit… Turned out cheaper to rent a small Luton van and just do multiple trips ourselves. Rental and fuel came to just under £900, hiring movers was going to be £2200 for the cheapest quote we got. I did 6 roundtrips in 5 days. It was brutal.
    Sorry about your dad mate. My wife’s dad is in a slow decline, dementia, and both my parents are in quite poor health. It’s tough, especially when they’re not close by.