What's in a name?

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Somehow it seems appropriate that his last name is Champagne. It certainly describes the lifestyle he was living. Paul Champagne is the DND employee who was fired for "signing contracts without authorization" in the scandal that appears to be worth about $159 million. When the story first broke, the government was suing Hewlett Packard for the money. Now it seems the government is admitting that HP never saw the invoices. So who was cashing all those cheques made out to HP?

The latest CBC story includes a picture of the $1.1 million home that Champagne was living in on his "$62,000 - $77,000 a year salary". Nice work if you can get it.

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Just for fun I calculated the monthly mortgage payment on that $1.1M house, assuming a 5% downpayment (leaving $1,045,000 principle) at 3.9% (that's a five year open at my bank as of 12 March, a great rate) and a 25 year term.



How much? %5458.36 a month. About twice M. Champagne's take-home.



yeah if I were him I'd be in the Turks & Caicos now too.

According the Toronto Star Champagne is claiming he made his millions, literally, playing the stock market. But I have to ask, if he was good enough to do that, why stay in a mid-level civil service job pushing paper? I doubt I would were I in that position.

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This page contains a single entry by pogge published on March 12, 2004 9:20 PM.

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