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One benefit of the RBC / RBTT deal?

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  • Richard Jobity
    http://www.rbcroyalbank.com/products/deposits/nolimit/index.html?Prospec tID=B677682441024B39933B58A3FB53C8E4
    Message 1 of 4 , May 1, 2008
    • Deosaran Bisnath
      In 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
      Message 2 of 4 , May 1, 2008
        In 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:
        http://www.rbcroyalbank.com/products/deposits/nolimit/index.html?Prospec
        tID=B677682441024B39933B58A3FB53C8E4





        ---------------------------------
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        [Non-text portions of this message have been removed]
      • Richard Jobity
        Well, to be fair, the RBTT shareholders chose to sell. The other option is to say Allyuh ain t ready. No free market for allyuh I go talk this talk, but
        Message 3 of 4 , May 1, 2008
          Well, to be fair, the RBTT shareholders chose to sell. The other
          option is to say " Allyuh ain't ready. No free market for allyuh"

          I go talk this talk, but on another account. :P



          ________________________________

          From: TTLUG@yahoogroups.com [mailto:TTLUG@yahoogroups.com] On Behalf Of
          Deosaran Bisnath
          Sent: Thursday, May 01, 2008 2:15 PM
          To: TTLUG@yahoogroups.com; ttcs@yahoogroups.com
          Cc: computing@...; TTLUG@yahoogroups.com
          Subject: Re: [ttlug] One benefit of the RBC / RBTT deal?



          In 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@... <mailto:RichardJ%40ngc.co.tt> >
          wrote:
          http://www.rbcroyalbank.com/products/deposits/nolimit/index.html?Prospec
          <http://www.rbcroyalbank.com/products/deposits/nolimit/index.html?Prospe
          c>
          tID=B677682441024B39933B58A3FB53C8E4

          ---------------------------------
          Be a better friend, newshound, and know-it-all with Yahoo! Mobile. Try
          it now.

          [Non-text portions of this message have been removed]






          [Non-text portions of this message have been removed]
        • Kwesi Stewart
          Sorry to be so myopic, but the RBTT sale is good in one aspect -- We may finally be PayPal compliant. Obviously I don t understand the impact of the sale but I
          Message 4 of 4 , May 1, 2008
            Sorry to be so myopic, but the RBTT sale is good in one aspect -- We may
            finally be PayPal compliant. Obviously I don't understand the impact of
            the sale but I hope that something good can come out of it.

            As for Trinidad, the trend I am noticing is everyone is looking at what
            they can get NOW and not thinking about the future. The Government and
            Corporations seem to be thinking about one thing -- cash. I would stand
            up against the Government and Corporations but I say, without shame, I
            am somewhat ignorant to the full effects of their actions. I would hate
            to go out there and be 'anti' without a full understanding of what I am
            trying to change.

            This is a TTLUG group, so I apologise if I tickled anyone the wrong way
            with this post.

            Peace!
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