tag:blogger.com,1999:blog-5235138415013046381.post2117566894912236806..comments2023-10-25T07:29:40.789-02:30Comments on UNCLE GNARLEY: BUREAUCRATS MASQUERADING AS ENTREPRENEURS (PART I)Des Sullivanhttp://www.blogger.com/profile/02566013585647491614noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-5235138415013046381.post-57397711479069462072017-07-20T20:05:35.681-02:302017-07-20T20:05:35.681-02:30The people of Iceland have much to teach us. Remem...The people of Iceland have much to teach us. Remember when this tiny country told<br />the British to stop fishing Icelandic waters? The brazen Icelanders took on the British navy and won. When their banks collapsed? They got rid of their political leaders.<br />The people of this little place actually RUN their little place.<br /><br />Here in Nl, we elect spineless fools because we're too lazy--too afraid--to leave out<br />homes and go out and protest.Cueduphttps://www.blogger.com/profile/08320451832216160300noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-58713531782073451402017-07-20T20:04:11.620-02:302017-07-20T20:04:11.620-02:30This comment has been removed by the author.Cueduphttps://www.blogger.com/profile/08320451832216160300noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-47067581433877610752014-07-29T09:53:24.897-02:302014-07-29T09:53:24.897-02:30I am very grateful for the voices who have the tim...I am very grateful for the voices who have the time and expertise to research the "other side" of Muskrat Falls. It is too complex for most of us get our heads around and failing any trust in our elected officials to give us a balanced view of the venture...blogs like this and books like Muskrat Madness (Cabot Martin) are the only sources we have to form opinions other than the political babblegab. History will not be kind to Mr Williams or, in retrospect, Mr (Brian) Tobbin but it will note they died very, very rich. Not the legacy we all strive for. Thank you for taking the time to do this work and inform our views.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-88747399854581118112014-07-29T09:10:34.297-02:302014-07-29T09:10:34.297-02:30go look at share purchases in emera mid december 2...go look at share purchases in emera mid december 2010...eastportorganichttps://www.blogger.com/profile/01553823007699647336noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-41085613103978912292014-07-28T10:10:03.597-02:302014-07-28T10:10:03.597-02:30Danny's luck with the cable business resulted ...Danny's luck with the cable business resulted from what he himself called a perfect storm: selling in a market place where 3 companies were competing to buy him out. This outlook may have influenced his decision for the Muskrat Falls to export energy, having 3 potential buyers for the energy : Hydro Quebec, Nova Scotia and new England, but this was before the shale gas revolution that destroyed any profit potential.<br />In my early days, in the 1970s I bought into Joeys praise for John C Doyle and bought $5000 of Javelin shares. I lost my shirt. Doyle was a crook. I eventually recovered $500 from the USA who took action in the courts. A learning experience.<br /> About 1995 I "invested" (actually speculated) and bought $500,000 of Fortis shares. Clyde Wells had been CEO of Nfld Power and now as Premier wanted to sell off Nfld Hydro. I felt no one could stop him and the deal would drive up Fortis shares. I knew none of the players, it was just a gamble. I was pleasantly surprized to see our citizens revolt against this and Wells change course. I made no money, nor lost any, and preferred the outcome that we retain Nfld Hydro, with it's valuable assets in public hands.<br /> After the great recession of 2008, I moved into Bell Aliant stock, which payed a 7 percent dividend in what was risky times in the stock market. A regulated company, majority owned by Bell Canada. It seemed low risk, was expanding into the benefits of fibre optic technology and could lose only if people gave up TV and their internet. Last week Mother Bell announced they would take full control of Bell Aliant. My net worth made the biggest gain ever, some 1.25 million in one day. I guess I learned a little from the John C Doyle days.<br /> As an investor I am with the critics who feel Muskrat Falls is fatally flawed. More risky that John C Doyle's schemes. And I am surprised that there has not been a revolt by the public against those who would put us to such risk. What financial merits it once appeared to have has long ago evaporated. How could the public have seen through and turned against lawyer- Premier Wells but not lawyer- Premier Williams? Is it that Williams's personal success in business assures the public that he knows best? Would he misinform us to his benefit? Would he buy into Emera if our public assets are sold off to pay the indebtness of the Muskrat Madness, like I bought into Fortis when I felt we would lose Nfld Hydro in 1995?<br /> My gamble, in dollar value, is peanuts to Williams's ability. For many this is a mere money game .No risk except for the ratepayer and our grandchildren.<br /> A friend of mine, an engineer with a consulting firm, admitted that Muskat Falls made no sense, but smiled and said "who cares, we're all making lots of money". No risk except for the common ratepayer, and our grandchildren of course.Anonymousnoreply@blogger.com