Here’s what we’re reading today.
1. Where the TTC’s $1 billion deal with Bombardier went wrong
“Toronto was supposed to have 121 new streetcars by now. We have received only 35.
‘That’s the crux of the problem with the state of the TTC’s $1-billion contract with Bombardier for 204 low-floor Flexity streetcars to be delivered by 2019. Almost eight years into the deal, Bombardier has repeatedly failed to meet its delivery deadlines, demonstrated quality-control problems that have dragged on for years, and promised that improvements that would double or triple the speed of delivery were around the corner.”
+1: Air Canada says it’s ready to respond to WestJet’s ultra-low-cost airline – The Globe and Mail
2. The spectacular implosion of Canada’s biggest alternative mortgage lender
“Wednesday, April 26, 2017 is a day that will forever be etched in the memories of Home Capital Group shareholders. In a span of a few hours, the company’s stock plunged 65 percent — it started the trading day at $17 per share, and closed at $5.99. One of Canada’s biggest mortgage lenders, once valued at $2.5 billion, was reduced to a mere $350 million. Thousands of Canadians were faced with a scary prospect — what’s going to happen to my mortgage if Home Capital goes bust?”
3. Inside McGill University’s Andrew Potter meltdown
“New documents reveal what happened behind the scenes as the school struggled with the fallout from an incendiary Maclean’s article, and ended up creating an even bigger mess”
4. Uber faces criminal probe over software used to evade authorities
“The U.S. Department of Justice has begun a criminal investigation into Uber Technologies Inc’s use of a software tool that helped its drivers evade local transportation regulators, two sources familiar with the situation said.
“Uber has acknowledged the software, known as ‘Greyball,’ helped it identify and circumvent government officials who were trying to clamp down on Uber in areas where its service had not yet been approved, such as Portland, Oregon.”
5. Uh, did someone leave US surveillance drone feeds live on the public internet?
“The US government apparently recently streamed, possibly live on the public internet, footage from at least one military-style drone flying over Florida’s panhandle.
“The drone appeared to be flying thousands of feet over the coast, aiming its high-tech camera at random civilian boaters as part of what could have been some kind of test—or maybe a demonstration by a military contractor. The footage is still up on the obscure website and is reportedly a recording. It could, by now, be months old.”