Wednesday, July 22, 2009

Demise of The Ministry of Health

Pitiable, laughable or crazy?

Following the fire at Ministry of Health, the Kaieteur News of Sunday 19th July 2009 carried a PUBLIC NOTICE that stated: It is with deep regret that we inform you of the demise of the Ministry of Health.

Look at paragraph 2: The LOST experienced....

O my God!

That 20 per cent in GT&T - predictions

The PNC has dared to question the wisdom of the GoG in selling the 20 percent shareholding.

For the next couple of weeks, we will all see the bad history GT&T, the consulting with Hoyte, the pricing etc etc. I predict that Jagdeo and PPP will find NOTHING good to talk about GT&T for the next couple of weeks.

This is the president who said that the people are too negative and focus too much on negatives. He dared Guyana to look for positives.

As far as I am concerned, this is the company that pays millions to the people for social work. I see local faces in their ads. I see guyanese employees.....

But it is all in the hands of God...oh sorry, Jagdeo. The PPP is powerless to stop this. Guyana will lose another 2milion US per year as this dividend will be paid to other shareholders who will buy that 20%.

Thanks! Great Job! Screw this country some more!

Thursday, July 16, 2009

What's more to come

What else is in that sleeping man's head? What else is Cheddie and Janet and Burnham and Hoyte telling him to ignore?

We wait with bated breath! BUT, maybe as soon as the license is granted, that threat disappears? Huh?

We know the thieves. The SAD part is that they know that we know but that we cannot do anything about it! (Except talk)

Tuesday, July 14, 2009

GT&T shareholding in spotlight

The Government has decided to give up its 20% shareholding in GT&T and a number of concerns are being raised in all quarters.

The PNC has questioned the sale of the shares and the Kaieteur news has questioned who will buy the shares as it is opined that the friends of the Government will buy the shares.

The Government, in response to the PNC, attempted to place the telephone company in bad light Here is what the Government said, along with our thoughts:
1) Gog:The annual amount (dividend) paid to GoG fluctuated between 1 and 4 million dollars. The TRUTH: GoG received an average of 2.6 million US$ per year from year 2000.
2) Gog:The shareholder has been prevented from influencing the company. The truth: THANK GOD! The Government would have interfered and bungled everything in their usual style. MORE TRUTH: We suspect the GoG didn't bother to attend meetings and never appointed directors to the board.

It is obvious is that the GoG is very eager to shut this company down - maybe because it was started up under the PNC government and has been a success story for Guyana. The total dividends received by the government more than paid for the sale of the company. Obviously the Government cannot account for any of this money.

The company continues to function without influence of the Government. This does not fit with the Government's plans for control of all telecommunications in Guyana (TV, Newspaper, Radio, Telephone). Maybe Digicel is paying or playing the Piper.

In conclusion, the Government said that it will take the money from sale of shares and put it toward ICT. We challenge the Government to say what it did with the dividends received each year. OR what it did with the company's taxes. GT&T says it pays 15-17 MILLION US dollars in taxes each year....why not invest that in ONE YEAR and get ICT going.

Thursday, July 9, 2009

Norton invokes a kangaroo and brings PNC into disrepute

Norton of the PNC has invoked the old PNC god of kangaroo (kangaroo court, kangaroo election, kangaroo everything). He will now be tried by his peers (all kangaroos) in the PNC's kangaroo court. May the kangaroos bless Norton.

Meanwhile, he has vehemently denied that he has brought the PNC into disrepute. This shocking denial comes at a time when the PNC needs no help in being of poor repute. To Norton's credit, teh PNC needs no help to get worse...they are doing so naturally by just being!

Also, Norton forgets when he started the run into disrepute from his days as a creature of Hoyte.

As we commented before, the PNC (always in disrepute) is wallowing in the pits of disgust, dishonesty and disappearance. Their next name change will be PNCD (instead of PNCr). Their future has disappeared. All they will ever be is a bitter part of Guyana's sad history.

Sadly, Guyana loses again.

Tuesday, July 7, 2009

PNC cannot be diverted to real issues

Corbin's recent statements can be taken as a fact that the PNC cannot be diverted to the real issues facing the nation (PNCR cannot be diverted from real issues facing the nation – so said Corbin).

The PNC seems not to be concerned about what is happening to Guyana. While the PPP cannot account for Millions of dollars, the PNC continues to be obsessed with rigging its internal elections so that Corbin can retain leadership.

A very instructive comment by Corbin reads, "“Sometimes when people don’t understand fully the reasons for strategy and tactics they can arrive at incorrect conclusions"

We can only shudder to think of the inner meaning of this statement as it represent the PPP and PNC. God help Guyana!

Saturday, July 4, 2009



PNC falling apart

The PNCR is falling apart at its seams every day. Corbin seems happy with his 300,000 salary plus driver plus security and lifelong pension. He is not going to budge!

Who is the loser?
Norton? Definitely NOT!

The BIG loser is GUYANA!

We believe that PNC's disorganized state and its ridiculous pursuit of its role as OPPOSITION is the cause for Guyana descent into the runaway corruption of the current Government.

Guyana ends up losing again!

Wednesday, July 1, 2009

Guyana Government cannot account for BILLION$ - Part II

Following our earlier blog in which we were contending that Government misappropriated over 100 million US Dollars in 2007 (cannot give account for it); other reports have been seen about the Health Ministry and Education Ministry financial irregularities.

The overall fraud and irregularities that have been exposed leaves us breathless. Shame on our Government! Shame on our Parliament! Shame on the opposition!

Is it time that we petition international agencies to investigate what is happening in Guyana. Cheddi Jagan cried to the world during the days of dictatorship. Who will cry out now?

Recap of the details on the Min of Education financial irregularities. For the previous blog on the >US$100million see link.
Min of Education: “failure to recover several millions of dollars in overpaid salaries, bank accounts with overdrafts of millions not being reconciled and overpayments to contractors among others.”
The failure to recover the overpaid salaries might be forgiven (though it is not right) since those who left the service also left the country. However:
- $78 million - bank account was overdrawn
- $4.3 million – outstanding ‘transactions’
- $2 million paid for questionable contract for TV ads (who is Ross
Enterprise?) – “All attempts to trace
this firm have been futile.”

- 1,146 teachers allegedly not registered for social security (NIS)
- $32 million overpaid to contractor (who?) for President’s College.
- $2 million paid for text books (to whom?), no books received.
- $23 million spent supposedly for Berbice Campus – no supporting documentation.

Guyana continues to despair as the powers that be continue to sweep every scandal under the carpet – and every of it financial irregularity takes place brazenly. Who will hold them accountable?

The question we have is with all this blatant corruption, why is this nation so silent?

Digicel debt

Digicel Debt placement

New Digicel placement
Published: Wednesday | July 1, 2009
(Taken from another blog)
Digicel Limited (DL), an affiliate of Digicel Group Limited, on Tuesday offered up for sale an additional US$250 million of its 12% senior notes, in a private placement in New York. This will be used partly to finance future unspecificied acquisitions.
The notes mature in 2014, alongside another US$350 million already issued. The debt is guaranteed by 9 of the Irish company's subsidiaries, including Digicel Jamaica.
“We are offering an aggregate of US$160,000,000 of new notes," said DL's offer document.
Denis O'Brien, indirectly owns 95 per cent of our common shares. Denis O'Brien, who also controls 100 per cent of Digicel Group - ultimate parent of Digicel Limited - has since the company's formation in 2001 showed a marked preference for debt to finance the mobile provider, whose holdings extend across the Caribbean and into Central America.
Digicel Debts
Digicel Limited's debts, reached US$1.8 billion at March 31, 2009, or 2.68 times EBITDA of US$676.6 million. A portion of the DL debt, US$75 million, is owed to Digicel Group Limited.
Digicel Limited, a US$2.27 billion operation incorporated in Bermuda, also reported consolidated net profit of US$166 million from revenue of US$1.7 billion.
However, the company also disclosed that subsidiary Digicel Holdings Central America Limited has a big loss of US$176.6 million.
More losses coming
"We may continue to incur losses in the near future," the company said.