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.
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