4 May 2008

The well running dry?

frontpage How does a company, with unlimited access to government funds, direct access to the Prime Minister, and no accountability, go broke?

For all the reasons I described above.

UTT is broke. Well, so says mega-honcho Ken Julien. Makes me wonder how much of the TT $1B that passed through is salted away in the offshore account. And whether Pa-trick really collects 60% (as the infamous Calder Hart email claims).

What I found laughable about the story was that Ken Julien is calling upon his second-in-command to back up his word that there is no money, and presenting that worthy's statement as proof. How thick can you get?

"Right now, we have no money at UTT. Ask Mr (Oliver) Flax..."

Flax is UTT's senior vice president...

So Oliver Flax also stating there is no money is evidence? Maybe for a court Sherman McNicolls is running, but certainly not for this writer.

...in response to allegations by UNC-A Senator Wade Mark in Parliament that well in excess of $1 billion had passed through UTT's coffers since it was incorporated in September, 2004.

Turning to Flax, Julien asked: "Mr Flax, you know about the $1 billion?"

Shaking his head, Flax responded:

"I don't know."

I was speechless at this one though:

Questioned on whether China Jiangsu had a $200 million fixed price contract, he replied:

"You have to ask eTeck that. I am chairman of the board of eTeck. I am not involved in the day-to-day management. Talk to Mr Khalid Hassanali about that."

Hang on... the chairman of the board, the FINAL legal stop, doesn't know about a contract this size? WTF? Somebody, fire this man! Or at least, put him out of the misery of this level of stupidity. Because you have to be past dotish to come out in public and say you ent know WTF going on in a company you're responsible for... at the very least it shows you're not qualified to hold the post you're being paid for.

Flax admitted that though UTT and eTeck were being constructed on the same compound, they were two different entities.

"eTeck has nothing to do with UTT. I don't know why people feel they are connected," Flax said.

Maybe people get the idea because they're both chaired by Ken Julien, are on the same compound, have the same money filtering through, the same lack of accountability... need I go on?

By the way, has anyone examined the silly salaries paid to the staff of UTT?

Oh, and this same sort of ineptitude is going on with UDeCOTT.