17618Re: [ttlug] One benefit of the RBC / RBTT deal?
- May 1, 2008In the future, we shall look back on this as the biggest sell-out of a local resource, maybe the top of the current boom, a defining moment, when the boom ended and the bust began.
Anyone who thinks RBC bought RBTT because they like Trinidad blah blah blah is either naive or stupid, or both. It seems as if our people fall easily for patronizing and condescending empty platitudes from foreign investors; are we so gullible? Why do we need foreigners to develop a system for Licensing Office? I am sure I can put together a team of local people, let's say ten people from our computer groups here and develop this in 6 to 9 months, without any foreign expertise and resources, except hardware & maybe some software.
RBTT, our biggest bank, almost nothing when Royal Bank abandoned T&T, but local skills and capital built it into a Caribbean banking giant; and now the vultures come back to gorge on successful local companies. Mark my words - as soon as things get a little difficult RBC will strip RBTT of most valued components, sell it, and leave us holding a hollowed valueless company. Sadly for T&T, most of those who supported and advocated the RBTT sell-out will not longer be here to account to the people.
There are no benefits for us (us = people of T&T, rather than a few corporate managers) in the RBTT sell-out. Patriotism is not merely waving the flag, chanting 'I live my country', but standing up, speaking out, and defending our resources. Lately, it appears as if there is a free-for-all, a feeding frenzy, as foreigners swoop in to feed at the trough... while we fight amongst ourselves. Why are Petrotrin & NGC not allcoated a bigger share in these energy projects? Foreign MNCs picking the low-hanging fruits while our local companies are burdened with old depleted oil fields (teak,Poui, samaan fields), land producing wells, and token particiaption in the profitable projects. I'd better stop here or else I will write a book on this...
Richard Jobity <RichardJ@...> wrote:
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