SALE OF BELCO
From "Suggestions to stimulate economic recovery for Bermudians once Shelter in Place ends"
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Proceed immediately with the sale of Belco which will put several hundred million dollars of foreign capital into Bermuda and help to stimulate the economy
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Profile of Connor Burns
Posted by:Connor Burns
6 years ago
That is not how it's going to work. They aren't just going to drop $200-300 million immediately into Bermudians and Bermuda's economy. Most of that will be spent over the next decade instead and further most of it will be spent on new assets - meaning most of that money goes right back overseas to buy solar and wind turbines... NOT Bermudians and Bermuda's economy.
Worse, once they've spent all this capital on efficient energy production, they won't need as much staff AND ALL FUTURE PROFITS WILL GO OVERSEAS.
We need to learn from the bank and telecom buyouts, this is NOT a good thing for Bermuda.
Profile of Planter Research
Posted by:Planter Research
6 years ago
So just allow Canada based companies to have the airport and Belco? You realize if this was Monopoly (and they are monopolies) that would be like giving up board walk and park place!
Total likes: 7, total dislikes: 4
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