Paying for poor foresight
I see Belco needs money to upgrade its system. Poor them. They invested $15 million or more on Air Care on borrowed money instead of investing in its basic infrastructure.
Sell Air Care. Any reasonable, sensible business takes at least 10 per cent of its profits and reinvests in its property plant and equipment.
Ascendant group has failed. All of its generators were originally designed for natural gas but were converted to diesel.
What are the ten top executives being paid? Why should the consumer pay for the executives’ poor management and lack of foresight?
KEITH D. GODFREY
PS. If Ascendant Group had reinvested 10 per cent of its profits each year for the past 20 years to upgrade the plant and equipment it wouldn’t have this problem today.
Bermuda has 23 per cent living in ‘poverty’
House: ‘fronting’ under investigation
Cashless gaming concerns
Local chef strikes gold
Island Trading undergoes ‘switch-over’
Message in a bottle
Upbeat troops weather Maria in Grand Turk
Licence warning leaves sour taste
Restaurant plans Court Street drive-through
A hard rain’s a-gonna fall
Cyberthreat posed by ‘script kiddies’
Take Our Poll
- What will be the best way to create needed new jobs?
- Attract more international companies
- Grow the population
- Reduce the number of non-Bermudian workers
- Develop new business sectors other than international business and tourism
- Retrain the workforce
- Total Votes: 5529
- Poll Archive