PRESS STATEMENT: Fred Gottlieb resigned as of December 31st 2009 ten months after making the bold prediction of coming within $1-2 mill of their “break even” goal for BEC financial year end of September 30th, 2009.
Jr. Minister Phenton Neymour recently told parliament that BEC’s loses for the year ending September 30th 2009 was some 20 million dollars. There has been no explanation as to why BEC’s loses exploded from a $1-2 mil to $20 million. But the tragedy has further escalated. The new executive chairman Michael Moss, joining in the comedy of errors, noted in Wednesday’s July 21st 2010 Tribune: “The Bahamas Electricity Corporation’s (BEC) net loss for its 2009 financial year is likely to “be closer to $30 million”.
This represents a whopping 50% increase over what the Jr. Minister Phenton “Clueless” Neymour had disclosed less than two months prior and a staggering 1400% increase over the loss projected by former chairman Fred Gottlieb.
This scenario is currently playing out under the political watch of Hubert Ingraham, Earl Deveaux and Phenton “Clueless” Neymour. Who will they be so bold to blame for this unbelievable, shocking, disgraceful and colossal mismanagement of a public corporation like BEC. They have collectively pushed BEC to the brink of a disastrous collapse.
What is sad about all of this is that they are shameless and arrogant.
The Bahamian tax payers are now being forced to pay for their collective ineptitude by way of the heavy increase in electricity rates.