Source Pravda.Ru

Ontario Judge Blocks Hydro One IPO

An Ontario judge has blocked Hydro One Inc.'s C$4.52 billion ($2.87 billion) stock sale, saying that the government left out provisions for initial public offerings in the 1998 act breaking up its energy monopoly. Two unions opposed to the sale of government assets challenged the IPO, which would have been Canada's biggest. They said that the electrical utilities should not be for profit, and Hydro One's sale would lead to more pollution and higher power prices. While the ruling by Superior Court Justice Arthur Gans is a setback for the government's plan to open the energy market to competition next month and pay down debt, investors said they do not expect it to scuttle the sale. With their majority, the governing Progressive Conservatives can push through legislation to sell Canada's biggest electricity distributor. The government “has the ultimate authority, so I expect this will only be a minor blip in the process,” said Enterprise Capital Management Inc. President Jim Doak.

Several years ago, a prominent Indonesian businessman who now resides in Canada, insisted on meeting me in a back room of one of Jakarta's posh restaurants. An avid reader of mine, he 'had something urgent to tell me', after finding out that our paths were going to be crossing in this destroyed and hopelessly polluted Indonesian capital.

Capitalism reduced Indonesian cities to infested carcases

Several years ago, a prominent Indonesian businessman who now resides in Canada, insisted on meeting me in a back room of one of Jakarta's posh restaurants. An avid reader of mine, he 'had something urgent to tell me', after finding out that our paths were going to be crossing in this destroyed and hopelessly polluted Indonesian capital.

Capitalism reduced Indonesian cities to infested carcases
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Capitalism reduced Indonesian cities to infested carcases
Capitalism reduced Indonesian cities to infested carcases
Capitalism reduced Indonesian cities to infested carcases
Capitalism reduced Indonesian cities to infested carcases
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