How Much is a Billion, Anyway?

December 15, 2019

In 1988, when The Barenaked Ladies released “If I Had a Million Dollars” seven-figures was a lot of money. Make no mistake, a million dollars is still a lot of money, but just imagine how much dijon ketchup you could buy with a BILLION dollars.

In 2018, FCL recorded a profit of one billion, one hundred million dollars. That’s $1,100,000,000. A billion is a massive number. It can be hard to fathom just how big that number actually is. 

If you put it in the context of time, 1 million seconds is about 12 days. One billion seconds is just shy of 32 YEARS. 

If you think about some of the major projects our province has completed recently, you can picture some of the things a billion dollars can do. Mosaic stadium had a final cost of $278 million. Almost four stadiums could be built for 1.1 billion. Another major project recently completed is the new children’s hospital, which had a final cost was $286 million dollars. That’s a mere 26 per cent of 1.1 billion. The stadium and the hospital will take taxpayers years, maybe even decades, to pay for. The monetary value of both projects took FCL only 6 months to reach. 

If you worked hard and earned $5000 every day, for 365 days a year… you would make $1,825,000 a year. From the date that Columbus discovered the New World in 1492 until today (2019)…you still wouldn’t be a BILLIONAIRE. But FCL is, two years in a row.

Other ways to think about a billion dollars:

●      $1.1 billion could give every person at a sold-out Rider game $33,333.00.

●      $1.1 billion could buy 22,000 Ford F150s valued at $50,000. 

●      $1.1 billion could buy 1100 homes valued at a million dollars.

Another interesting way to think about how huge FCL’s profits are is in terms of the employees at the refinery. If there are 800 full time employees, that is $1,375,000 per employee.

FCL made $985 million in profits for 2019.  Not as much as in 2018, but darn close.

During the bargaining process, we must consider the profitability of the company. A billion dollars can be hard to imagine, but what’s truly unimaginable is our membership accepting any concessions during this time of record profits.

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