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Manning Gets Plane; Annual Cost of $18 million

The Ministry of Finance has approved $400 million to be sent to Carribean Airlines for the purchase of an executive jet.

Quote:

But while the Minister was willing to confirm this yesterday, he would
not say where the $400 million came from, noting that Government has
several funds, including the Consolidated Fund, from which to meet
various expenses.

It's comming from taxpayers pockets!

Quote:

The Minister, further, did not want to go into the details of the
proposed acquisition, arguing that while CA is a fully State-owned
company, it is a “private entity” that must be able to compete
effectively on the market and as such not have its plans ventilated in
the public domain.

If CA is a "private entity" and has to compete in the market, why then must CA come to the government to receive funds. Why can't CA go to the private market and borrow the money or issue more shares?

Quote:

Aviatrade also estimates that the total annual cost of running the Global XRS will be roughly $18million.

WTF?

http://www.newsday.co.tt/news/0,74765.html

I'm Flying on a Jet Plane

Besides financing $400 million to CA. There are other costs of having  a jet. Here is an interesting analysis of the true cost of buying manning's jet plane.

Quote:

Just to let you know that there are other costs
associated with owning an executive jet such as the one that is being
purchased by CAL. Remember, Government has agreed to sufficient "block
time" to ensure "financial neutrality" (read no loss) to CAL. That
means all these costs will be met by the Government (taxpayer).

Take a look at the following site. It gives the hourly plus fixed
and other costs associated with the Global Express XRS (and other
Bombardier jets) www.aviatrade.aero/Operating%20Costs-B.asp.

By the time you add in interest/financing cost on $300 million (at
least $15 million per year) plus the fixed cost as well as hourly costs
(around 250 hours a year), you could easily see that this works out to
over $20 million per year on top of the $300 million!

The 250 hours per year could be broken down as follows:

What $440M can buy?

HERE'S what $440,000,000 can get:

l 20 police stations, fully equipped with the most modern facilities;

l 22 Coast Guard patrol boats;

l 20 new court houses and judges;

l 3 new large prisons;

l 30 new passport offices

l Round-the-clock security for 1,000 schools for four years;

l Total repair for every school in Trinidad and Tobago;

l A one-time gift of $2,200Â to 200,000 pensioners;

l 1 new hospital

l $40,000,000 in interest if invested with low risk, which could then pay for the prizes for Panorama in perpetuity;

l $1,000,000 seed money for 440 high tech start-ups to promote innovation and invention;

l Funding for 1,000 bright students to attend the best international universities for five years;

l A developed agro industry sector;

l A refund for the people of T&T for the $200,000,000 wasted on the Caroni racing complex;

OR

An airplane for one person to massage his ego and promote his sense of self-importance.

HOT OFF THE PRESS - the HART family

NAME : CALDER HART
D.O.B. : JUNE 11TH 1945
EDUCATION: Bachelor of Commerce from St. Xavier University, Nova Scotia, Canada.
1962 – 1966
Worked
for the city Government of Ottawa. He was about to be fired for
incompetence, insolence, lack of integrity and insubordination when he
left for Trinidad on the invitation of Mr. Andre Monteil, a senior
executive with CLICO, his former class mate.

He claims to have
studied at MIT for his MBA – to date this cannot be confirmed
irrefutably. He cannot remember his lecturers names and they cannot
remember his. He claims to have studied at the Sloan Business School at
MIT in 1969. No one remembers him. He claims to have worked for the
city Government of Toronto as a town planner. This cannot be confirmed.

JOB STATUS:
Chairman of UDECOTT
Chairman, CEO and Managing Director of the Trinidad & Tobago Mortgage and Finance Co. (TTMF)
Chairman of NIPDEC
Chairman of NIB.
(Many staff members of the above institutions say that Mr. Hart is a very unpleasant person to work with.)
CITIZENSHIP: Canada and Trinidad & Tobago

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Welcome to the blog of the original Trini Outlaw. Here you'll find a vast collection of letters to the local newspapers editors, as well as daily rants on the dotishness in Trinidad & Tobago.

The purpose and mission of the Trini Outlaw blog is to offer an open forum where Trinidadians can come to expose, express and read about the inherent and deep seated corruption and stupidity of the day as they unfold under the existing government of the nation.