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Letters to the editor

Power sale seems weak

To the editor:

Re: Kelowna's power sale power play

I am writing about the recent decision to sell the Kelowna Power utility to Fortis BC in a share swap agreement.

This is an egregious form of corporate cronyism.

The people of Kelowna, are gambling on the future of Fortis stock in return for handing over a $50-70 million asset.

Was this tendered? Who else would have paid what?

What could the city do with $50-70 million in cash?

We'll never know because this sweetheart deal is all but completed.

This is a bad deal for the people of Kelowna, call your councillor.


 

Michael Shenher 

Posted: Jul 30, 2012 / 5:00 am
Story# 78528 /  Contributed
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