Rick Lowe
Riding high off what I'm told was an impassioned (even if rhetorical) presentation by Mr. Perry Christie, leader of the Official Opposition PLP on crime and how his party would fix it along comes Mr. Mitchell, to take the wind out of his sails.
"AN opposition MP has issued a "buyer beware" warning on government's impending BTC public share offering – noting that a change in government could affect the value of any shares purchased.
"Former Cabinet minister and Fox Hill MP Fred Mitchell said that with an election less than 12 months away and considering the opposition's insistence that it will wrest management control of BTC away from Cable & Wireless Communications, the value of shares could change should the Progressive Liberal Party become the next government.
"Buyers ought to beware," Mr Mitchell told The Tribune yesterday, adding that the government should inform the public of this possibility in a share offering prospectus."
The article by Ms. Taneka Thompson goes on to say:
"However, he quickly added that should the PLP win the next election, the policies they put in place will not necessarily devalue the shares."
If the policies the PLP would put in place if elected would "not necessarily devalue the shares" what is the point of his press statement?
One suggestion is the FNM must have over turned the deal the PLP was attempting to arrange to sell a major stake in the phone company and some of the PLP's that stood to benefit immensley are taking that loss personally.
I don't necessarily buy that, but I a must admit I'm curious as to why Mr. Mitchell and some of his colleagues would use such base politics over what should be a better arrangement for all Bahamians – PLP and FNM. Particularly when they stated in their election platform they would privatise the phone company as well.
At least we know BTC will no longer be used for political purposes once the sale of 9% of the governments 49% ownership are in the hands of Bahamian citizens.
Finally, if the PLP attempt to "wrest management control of BTC away from Cable & Wireless Communications" one wonders what damage that could do to The Bahamas future attempts at encouraging future Foreign Direct Investment?
This statement seems to go directly against one of the planks of Mr. Christie's speech.
So having said all this what was Mr. MItchell up to other than a vainglorious attempt to upstage his party leader?
