Public Accounts committee  That's correct. That was done, and that was raised by members of the board with the Government of Canada. The Government of Canada did take action in 2016 to remove that person and to place new board members in the corporation and to have an interim president.

Public Accounts committee  Capital equipment is supposed to be purchased with the approval of the board. That was not the case, as I understand it. The equipment was purchased with a focus on yield, but without thinking about the end product and whether it would be acceptable to the buyers. It wasn't accep

Public Accounts committee  The equipment was purchased outside the normal process.

Public Accounts committee  After I came on, we had to find a way to sell the equipment and replace it with equipment that produced a profit.

Public Accounts committee  I should point out that we operate under the FFMA and the Financial Accountability Act. We don't have the authority to hire or to fire the president. We don't have the ability to appoint to the board. The board at the time was raising issues with the Government of Canada about th

Public Accounts committee  No. The final payment to the fishermen has to be consistent with the plan and it has to be consistent—

Public Accounts committee  That is correct, because we need to have the books audited so that we have a very clear understanding of our financial position before we send the fishermen the money.

Public Accounts committee  That's not something I could possibly do in my current position. I have a fiduciary obligation to the crown corporation, and closing it is not exactly fulfilling that. It's a decision for government whether to sell, close, or do some other kind of governance around the corporatio

Public Accounts committee  I understand what you're asking. Again, I think that's a question that should be put to the government. We will keep the wheels on it and keep safeguarding the assets for the Canadian public, pending a decision by the Government of Canada. I would note, though, that Air Canada w

Public Accounts committee  It's in two phases. We have operating debt. It's something that we incur every year, allowing us to pay fishermen without having to—

Public Accounts committee  The long-term debt is $12.5 million, and our retained earnings are almost $15 million.

Public Accounts committee  That's correct.

Public Accounts committee  In 2010, the policy around final payments and retained earnings changed. As you can see, retained earnings have gone up in that period of time. Since that policy change, there's been significant investment in the plant. I don't know when you were last there, but we've upgraded th

Public Accounts committee  That is correct in one sense. If you are selling a mix of species, it's one thing to say, “I'll high-grade my pickerel, but then I won't have a market for anything else.” You have to make a decision whether it's better to sell it all to the corporation or not.

Public Accounts committee  We still have vacancies on the board. I would prefer more board members, to say the least. I've been asking for appointments to take place. I've been asking for a broader array of experience and skill sets. We're still on a skeleton crew at this point in time. There's some reason