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**tenman** » 2012-07-24 21:51

Observer overseas, they treat it like the bible was some five hundred years ago. Persons were not allowed access to it. They had to wait to hear some priest tell them what it says. I guess the feeling then was the m** were children and would not be able to understand. I felt ashamed a few months ago when the chairman was on Obsever's big issues and announced he now has (his) 2008 audited financials and is awaiting for the 2009 ones from Wilbur Harrigan. Just like the priests he then proceeded to use whatever figure he wanted to mention (eg contradictory figures for Accounts receivables). Even with the aid ( for him alone) of his dated audited financials, his statements made no sense.

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**Observer overseas** » 2012-07-24 21:07

Anu, whenever I here someone say APUA was profitable or that it is now cash strapped, I have to ask, "what financial statements are they looking at". I am not aware of any piblished financial statements coming from APUA for the past 10 years. The same goes to for the port Authority, State Insurance etc. As shareholders we seem to be content knowing that we "own" these"assets" with no knowledge of their true value or return on investment. Is there financial information out there that I am not aware of?

**David Shaolin** » 2012-07-24 21:03

Just compare where Mansour lived in 2003 and where he now lives. The man is real Royalty now...he's King!

**tenman** » 2012-07-24 20:26

Anu, though I agree wit most of what you stated, let me suggest you not turn a blind eye to the value of added share ownership. APUA needs more capital. These moneys are needed for things like updating the IT system at APUA and for future investment projects (eg. they have a high level of system losses which implies the grid needs to be replaced or fixed and the process could be used to invest in utilizing alternative energy coming from consumers). Two methods are via borrowing or via equity. I honestly can't see investors willing to put money in APUA if government will still have the controlling share. Don't know of many banks currently running to offer APUA moneys when you consider according to the chairman (about 2 months ago), the last audited financial statement is from 2008. The solution is a restructuring which will include having the stat corp like SS invest and via the ECSE. It then means that though the existing share holder will control less of the company, the company is now valued more. (IF DONE PROPERLY) It will essentially mean that government could get more dividends from its shares and a better APUA should mean lower costs for consumers .

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**Observer** » 2012-07-24 19:13

Government choose a Board and then turns around and give the Board directives. So the board is just a rubber stamp and carry no real authority. They should also ask for indemnity for all the decissions government have them make against their will. But then again most people I find serve on Boards with no understanding of their fiduciary responsibilitie s. I believe Paul Ash referred to this in his case study “Corporate Governance in Antigua and Barbuda" It's all about the director's fees. Supplemental income. It's time people are held accountable for their actions or non-actions. Sitting on a board is not just a joy ride. It's serious business. And people should start to realize this. I look forward to the first case against certain of our Statutory Boards for not executing their fiduciary duties to the best of their capacity.

**John French II** » 2012-07-24 17:24

Notes From A Native Son Of The Rock. With the threat of A Public Enema from the venerable RP, this calls for listening to Ali Babba and the 40 thieves in the Quiet Room on Scotts Row. The Trader remarked to the Red Critic, you sound like Plato blowing Pappy's bugle, sending a warning and an alarm. Red Critic responds, You sound like a donkey, braying in the night, telling us that this is "Privatization" , while you and your brother buccaneers are planing to have us walk the plank through the Gate of No Return.
The Researcher says not so fast, produces copious documents, stats, analyses & suggestions from EPA & ECTEL and studiously asks:Quote:

Why are we so willing to have no rules. (JF has been asking for An Independent Public Utilities Board) Who really benefits? (Privateers & Buccaneers - Lime, Digicel & ACT) Clearly its not the citizens when you observe the high cost for ICT when compared with other OECS countries.

The Red Critic was most knowledgeable as to how to manage IT, navigate through Scotts Row and retake the IT initiative. There is hope that Reds will finally assign duties & responsibilitie s. Heaven Help & Save APUA. Arl Ah Wi Ded!

**Anu** » 2012-07-24 16:54

In the UPP's manifesto for the 2009 election, govt had proposed selling shares of state owned statutory corporations to citizens. That in my opinion didn't make any sense because state owned assets under govt belongs to the people of Antigua & Barbuda since it's our tax dollars that purchase them. STATE INSURANCE, THE PORT AUTHORITY, APUA PCS & APUA ELECTRICITY DEPT were all to be sold by UPP. These 4 businesses were known to be profitable assets in the past, however for the last few years they have all gone into the slumps. It is not coincidence that APUA is now fighting for recognition and fair game from its own parent (UPP Govt), the idea was established long ago to get the rid of them. UPP supporters who read their manifesto, would have been aware of this wicked govt's intention after regaining office. Mansoor is being blamed for the latest debacle with APUA, however the fault lies on the UPP govt. UPP DROPPED THE BALL and Mansoor is the henchman. The same thing goes for the statement Mansoor made about the Birds being thrown in the dust bin of history, that too was in UPP"s 2004 manifesto. They should have never been elected in the first place. WICKED SET A PEOPLE DEM BE.

**A me** » 2012-07-24 13:56

I agree with you Nicholas, I think it was deliberately done!

**Jackie Spense** » 2012-07-24 07:39

Come on Mansoor is the most important person and the most intelligent in the whole UPP Cabinet so he is untouchable! All this is a futile exercise in "crying over spilt milk"!

**tenman** » 2012-07-24 07:10

The question that should be asked is why are we so willing to have no rules. Who really benefits? Clearly its not the citizens when you observe the high cost for ICT when compared with other OECS countries. Lime's mega plus is $85.00 in Saint Lucia inclusive of taxes while in Antigua its $194.35 inclusive of the 15% VAT). The benefit seems more for the government and telecom companies which are busy with joint ventures. The ventures seem more about political gamesmanship, one need only remember the promised free internet in constituencies which would have been affected if judge Blenman's ruling was upheld. Antigua & Barbuda consumers, truly need an independent regulator to protect consumers from the sharks who pretend to have our best interest

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**tenman** » 2012-07-24 06:57

Quote:

Antigua & Barbuda’s telecommunications industry is expected to undergo significant changes within the next nine months as government has until next January to liberalise the sector. Government agreed to make the necessary adjustments when it joined with other CARIFORUM member states in signing on to the Economic Partnership Agreement, EPA, with Europe in 2008. The changes include the establishment of a separate regulatory body, much like the Eastern Caribbean Telecommunications Authority, ECTEL, which oversees the sector in Dominica, Grenada, St Kitts and Nevis, St Lucia, and St Vincent and the Grenadines. “The EPA requires that you have an independent regulatory authority which is functionally distinct from the telecommunications provider,” regional consultant Dr Kathy Ann Browne explained, “So you need a regulator the same way that the ECTEL countries within the OECS have a regulator.Liberalisation of telecoms sector by year-end By Observer News - Thursday, March 3rd, 2011.

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**tenman** » 2012-07-24 06:49

There is a April 2012 article in ICT pulse, by Michele Marius which seeks to answer the question on why Antigua may never join ECTEL www.ict-pulse.com/2012/04/why-antigua-barbuda-may-never-join-ectel/.
...No political will. Within the Caribbean, one of the greatest indicators of the likely success of government-driv en initiatives, is the extent to which there is sufficient political will to drive those activities. As reflected in the above video, the telecom reform processes had not only the fullest support at the highest levels of government, that support was also reflected in the common position was taken among to countries, which in turn strengthened considerably their negotiating position and leverage. Hence within four years from the commencement of the reform project, the ECTEL countries were able to prepare and enact new legislation; end the then existing monopoly; establish their regulatory framework; and fully liberalise their sectors to embrace competition. In contrast, Antigua and Barbuda has not made any comprehensive declaration of what it hopes to achieve in its telecoms sector....
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**Get Real** » 2012-07-24 04:11

A better question is what happens when a fibre optic cable goes down, or a major infrastructure component fails. Will it be replaced by the Chinese??

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