Kingswood Capital Corp. president and influential philanthropist Joe Segal told Business in Vancouver March 13 that he will support the yes side in the upcoming transit plebiscite because it is important to future generations that traffic flows without “bottlenecks.”
His support firmed earlier this month after Jim Pattison Group owner Jim Pattison agreed March 5 to head a committee that would oversee all money raised by the 0.5% hike to the provincial sales tax within Metro Vancouver to ensure that it is spent as intended.
He said Pattison provides integrity to the process that involves a mail-in ballot March 16 through May 29.
“It’s important that we spend money on transit but I think it’s more important that the spending gets done today because of the addition of Jimmy Pattison,” Segal said.
“Jimmy Pattison is not doing this for any other reason than that he believes in the welfare of the city and the province. He has no axe to grind and anybody who infers otherwise doesn’t understand. If Jimmy takes the responsibility, he will deliver to the organization the checks and balances that everybody [wants].”
He acknowledged fears about fiscal accountability at TransLink, which would be tasked with prioritizing initiatives and spending the money raised.
“But, we need transportation,” Segal said. “If we don’t have transportation, what are we going to have? Bottlenecks.”
Polling firm Insights West conducted a survey of B.C. residents last year and found that Pattison ranked No. 5 as their most admired British Columbian of all time. Marathon of Hope athlete and cancer fund-raiser Terry Fox ranked No. 1.
Still, the polling firm determined in a poll released earlier this week that Pattison’s involvement has so far had a muted effect.
“Only 3% of No voters say Pattison’s presence in the committee makes them more likely to vote Yes,” said Insights West vice-president of public affairs Mario Conseco.
Forbes, earlier this month, estimated Pattison’s wealth at US$7.4 billion and ranked him No. 177 on its list of wealthiest people in the world.
Segal is known for philanthropy. He and wife Rosalie gave gave $12 million in 2010 to the Vancouver General Hospital and University of British Columbia Hospital foundation to create the Joseph and Rosalie Segal Family Health centre, a proposed 100-room acute-care centre serving people with mental health needs.
The couple have been honored by Variety Club with their highest honor: the International Humanitarian Award.
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