Project Stallion

[TK4]

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As per the press conference today, it's more like $55 million. Question - when these vehicles are recovered and an insurance company has already paid out, they belong to the insurance company, right ? So if they can then sell them off, insurance premiums should go down accordingly ? Yeah, right...

Project Stallion: Toronto police recover $60 million in stolen vehicles, charging more than 200 people

Toronto police chief Myron Demkiw is holding a press conference on the auto theft investigation Wednesday afternoon in Etobicoke.

www.thestar.com

 

[GreyGhost]

As per the press conference today, it's more like $55 million. Question - when these vehicles are recovered and an insurance company has already paid out, they belong to the insurance company, right ? So if they can then sell them off, insurance premiums should go down accordingly ? Yeah, right...

Project Stallion: Toronto police recover $60 million in stolen vehicles, charging more than 200 people

Toronto police chief Myron Demkiw is holding a press conference on the auto theft investigation Wednesday afternoon in Etobicoke.

www.thestar.com

Since this also involved catalytic convertor thefts, I hoped they would bring up some scrapyards that were snagged. Johnny crackhead with a trailerload of cat's at 8:00 am obviously is up to no good. Until the police start to come down very very hard on the scrapyards, cat's will still disappear every night. Take the bad scrapyards away and that complicates the supply chain as then the cats need to get shipped out somewhere.

 

[just-me]

As per the press conference today, it's more like $55 million. Question - when these vehicles are recovered and an insurance company has already paid out, they belong to the insurance company, right ? So if they can then sell them off, insurance premiums should go down accordingly ? Yeah, right...

HAHAHA, you a funny guy.
Insurance go down? I want to live in your fantasy world.

 

[nobbie48]

Since this also involved catalytic convertor thefts, I hoped they would bring up some scrapyards that were snagged. Johnny crackhead with a trailerload of cat's at 8:00 am obviously is up to no good. Until the police start to come down very very hard on the scrapyards, cat's will still disappear every night. Take the bad scrapyards away and that complicates the supply chain as then the cats need to get shipped out somewhere.

Sorry to be cynical but a retired scrap dealer told me the mindset in that business was "If I'm not screwing you, you must be screwing me."

Scrap metal prices are enough to keep an alky or druggie on their high. They have stolen bronze statues, works of art. Plaques and urns from cemeteries and copper cladding from buildings. Cleaning up the shop one day, I threw a bunch of obsolete brass parts into a five gallon pail and came out of the scrap yard with $200.

I also repaired a bunch of eaves trough heaters at a downtown church. They had been damaged when some low life ripped down the copper eaves down spouts. My bill was about $11 K IIRC, the electrician doing the wire and supplying the bucket truck was substantially more and the copper workers would be priced out of sight. All for a couple hundred in scrap copper. Pawn shops and scrap yards don't seem to ask a lot of questions about where the stuff is coming from.

 

[Relax]

As per the press conference today, it's more like $55 million. Question - when these vehicles are recovered and an insurance company has already paid out, they belong to the insurance company, right ? So if they can then sell them off, insurance premiums should go down accordingly ? Yeah, right...

Project Stallion: Toronto police recover $60 million in stolen vehicles, charging more than 200 people

Toronto police chief Myron Demkiw is holding a press conference on the auto theft investigation Wednesday afternoon in Etobicoke.

www.thestar.com

Knowing the cops and news want to sensationalize everything, that $55 mil is probably based on new retail pricing. But even if it represented current value, that's only $5 back to every licensed driver in Ontario based on 2018 stats stating over 10,000,000 licensed drivers. Not counting what it costs them to advertise and actually sell them.

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