Facebook Group Reacts To LIME’s Announcement To Hike Landline Rate

From the Facebook Page of SURVIVING OUR HARSH ECONOMIC ENVIRONMENT: written in response to the recent announcement that LIME will be increasing rate on basic landline service from October 2011

Dear Mr. Alex W. McDonald:

I would like to express my strong objection to LIME’s proposed land-line rate hike. Frankly speaking, I find it repulsive and abominable, that your company has chosen to burden the general public of Barbados, at this time, with such an increase.

LIME’s ghastly action should be juxtaposed against the fact that a significant percentage of your patronage/ customers are currently having great challenges purchasing food and other basic necessities for his/ her family. You company’s action is unconscionable and clearly demonstrates that you are obviously devoid of a social conscience.

I am hereby calling on your company to immediately reverse its decision to implement your proposed land-line rate increase. Furthermore, I do think that you and LIME needs to sincerely and unequivocally apologize to the Barbadian public for the stress that you have caused them to experience, since you and LIME announced your proposed rate increase.

C. Malcolm Grant
Face Book Group

Emera About To ‘Steel’ Barbados Light & Power Co Ltd

Douglas Skeete

Accountant and head of the local corporate shareholders group Douglas Skeete expressed surprise in the news today at his findings after he did a quick and simple analysis of Barbados Light & Power (BL&P) balance sheet to determine the book value of its shares. One would have thought given his role as an Intervenor in the recent Fair Trading Commission (FTC) BL&P Hearing he would have been more than intimate with the disparity in BL&P’s book value per share and share price. After several days of discussion, the public is now being made aware by local commentators that simple analysis shows that the book value of BL&P shares maybe easily located in the $40-$50 range. We have been told the results of a study will be made public shortly to more accurately determine BL&P’s book value per share. The offer of $25.00 by Emera against the foregoing should now make for more interesting discussion.

On the 21 December the BU family would have been apprised by a source of the revelation which Douglas Skeete announced today:

BL&P, at $12.50/share, is valued on the BSE at $BDS 214m. At $BDS 25/share Emera are suggesting BL&P the company is actually worth $BDS 428m. Why this apparently generous price? Take a look at the 2009 BL&P’s accounts. Net asset value (ie all its assets minus all its liabilities) is sitting around $BDS 620M. Or something north of $BDS36/ share.

Continue reading