PAULWELL… his meeting with representatives ofEnergy World is being made out to be a major sin onhis part
Do we have the will to fix the energy problem?
IN mid-2007 when Mirant sold its 80 per cent stake in JPS to Marubeni, it was reported that the company netted a cool US$350 million on the sale of the entity that it had bought a lion’s share percentage of in 2001.
While there is absolutely nothing wrong with an investor making a healthy return on investment, some saw it as a classic case of a big US corporation hoodwinking a small ‘turd wurl’ country and its even smaller politicians, especially when it is a fact that Mirant filed for Chapter 11 bankruptcy in 2003 and emerged from it in 2006, no doubt assisted by the guaranteed profits from its majority ownership in JPS.
But I say it could have been worse simply because…
Read full story in our E-Paper here
observemark@gmail.com
