Walk against corruption mere “smokescreen” to detract from violations – Jagdeo

first_img…declines invitation by SARA to participateOpposition Leader Bharrat Jagdeo has declined an invitation extended to him by Head of the State Assets Recovery Agency (SARA), Dr Clive Thomas to participate in a “symbolic” walk against corruption on Friday.Opposition Leader Bharrat JagdeoIn declining the invitation, the Opposition Leader said that he viewed the walk as it is – a mere “smokescreen” to detract from the grossest violations of the constitutional and statutory provisions regarding financial probity, transparency, and accountability ever witnessed since independence. Furthermore, he added that he would not participate in such a walk while members of successive People’s Progressive Party/Civic (PPP/C) Governments and other public officials have been discriminated against, victimised, and targeted by a State-sponsored witch-hunt on frivolous manufactured charges.In a letter sent to Thomas, Jagdeo stated that the parliamentary Opposition held firmly to this position, which was reflected in the PPP press release of April 14, 2018 that stated, among other things, “after being in office for only three years, the APNU/AFC Government can easily be classified as the most corrupt Government in the post-independent English-speaking Caribbean. Indeed, its corruption is only surpassed by its incompetence.”Head of State Assets Recovery Agency (SARA) Clive ThomasIn three short years, the Party said, the coalition Government has managed to “completely bypass the public procurement process, mandated by law, and has handed to its cronies and financiers, hundreds of contracts to the value of billions of dollars.”It added that the number of cases of such violations is mounting on a daily basis.In light of the “blatant transgressions” by the Government, the Party said in its letter, “Can one wonder why the parliamentary Opposition, critical national stakeholders and thousands of Guyanese are angry at the audacity of this government to accuse others of corruption when there is nothing being done to stop this “corruption haemorrhage” undermining the rule of law in our country?”The Opposition Leader also noted in his letter to Dr Thomas that the “Government manipulates the Director of Public Prosecutions (DPP) and directs the Special Organised Crime Unit (SOCU) to institute fabricated and malicious charges against political opponents and highly qualified professional Guyanese, who have served their country and their people with distinction. The frivolous charges instituted against Dr Ashni Singh and Mr Winston Brassington are simply the most recent, and we have no doubt others will be made victims of this vindictive and undemocratic regime.”The letter to Dr Thomas added that “the passage of the SARA Act has given you, sir, enormous, in fact, super powers – something we abhor as it is in total contravention to human rights and due process – but sir, you have those powers so why have you taken no action as a so-called anti-corruption champion to bring members of the present Government to book? As they say, clean your own house so that others can see the light and know you are serious about fighting corruption.”last_img read more

DaimlerChrysler ‘divorce’ likely

first_img“What will happen if you do not find a new bridegroom for Chrysler, or if the dowry is too high?” Gebhardt said. Hans-Richard Schmitz, a spokesman for the German Association for the Protection of Shareholders, said, “This marriage made in heaven turned out to be a complete failure.” Schmitz criticized DaimlerChrysler’s management for even reserving the option of not selling the unit. “What’s missing now is a swift resolution of the issue by the management of the group,” he said. “I don’t understand why you’re so hesitant, Dr. Zetsche.” Among the shareholder proposals that were scheduled to be put to a vote later Wednesday was one that would require DaimlerChrysler to change its name back to Daimler-Benz if it does not unload Chrysler by March 31, 2008. “Maintaining a corporate name that evokes associations with the failure of the business combination with Chrysler is detrimental to the image of the corporation and its products,” said the proposal, submitted by two shareholders, Ekkehard Wenger and Leonhard Knoll. The company said the DaimlerChrysler name was well established, and urged shareholders to reject the proposal. So far, three parties have submitted expressions of interest in Chrysler, according to people involved in the negotiations: two private-equity firms – Blackstone Group and Cerberus and the Canadian auto-parts supplier, Magna International, which is working with another private equity investor, Ripplewood.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! But it added to the momentum that is building behind a sale. DaimlerChrysler’s shares rose nearly 1 percent Wednesday morning, on top of a roughly 25 percent rise in the stock since the company put Chrysler into play. The mood among the 8,000 or so shareholders assembled for the company’s annual shareholders’ meeting was unmistakable: They expect DaimlerChrysler to cut loose Chrysler, unwinding a trans-Atlantic merger that was hailed at the time of its announcement in 1998 as a blueprint for the future of the global auto industry. A steady stream of investors stood up during the meeting to condemn the merger and demand a speedy sale. “Should there be a divorce in court, we would be very happy,” said Henning Gebhardt, a spokesman for DWS, a major German asset management firm. His fear, he said, was that DaimlerChrysler would not find a buyer willing to take Chrysler off its hands on acceptable terms. With some $20 billion in health-care obligations for retired workers, Chrysler will not be easy to sell, according to analysts. Some estimate it may fetch as little as $5 billion to $7 billion – or even nothing. BERLIN – DaimlerChrysler confirmed for the first time Wednesday that it is in negotiations with a number of parties about the sale of its money-losing Chrysler division. Speaking at DaimlerChrysler’s annual meeting here, Dieter Zetsche, the chief executive, said, “I can confirm that we are talking with some of the potential partners who have shown a clear interest.” Zetsche did not identify the automaker’s suitors, nor did he guarantee that the talks would end in the sale of Chrysler. “We need to keep all options open,” he said. “We need to keep maximum scope to maneuver.” DaimlerChrysler’s confirmation was not a surprise. The auto industry has crackled with rumors about would-be bidders for Chrysler since mid-February, when Zetsche disclosed that the company was considering all options for the unit, which lost $1.5 billion last year. last_img read more


first_imgAn action packed and fun filled list of events has been announced for the Biddy Devine Memorial fundraising weekend which will be held in Glenties next week.The event was organised in memory of the late Biddy Devine, and all proceeds raised throughout the weekend will go towards the Kidney Dialysis Unit in Letterkenny General Hospital.The weekend caters for all ages, and the festival line-up ensures that it will be a great weekend for all in attendance. With all the proceeds going to such a worthwhile cause it’s a great way to honour the life of the late Biddy Devine.     FUN FILLED FESTIVAL IN MEMORY OF BIDDY DEVINE KICKS OFF NEXT WEEK was last modified: July 2nd, 2014 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:Biddy Devine FundraiserEntertainmentFeaturesNoticeslast_img read more