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From: Mark Wood
Sent: 13 September 2006 09:14 To: Scrutiny
Subject: Telecom sell off
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Sir, as a JT employee I do have a personal interest in the proposed plans but I would like to express my view. I think the best way forward is make JT a PLC and to allow the people of Jersey a chance to buy preferential shares in the company, as many people would like the chance to buy part of a very successful company. This option: 1. Allows the States to raise the cash. 2.Allows great flexibility as the States can buy or sell shares as and when future situations arise. 3.Provides a secure short term future for all employees including the management. 4. Pension problems are easily solved. 5. Allows the people of Jersey a chance to share in the profits, if they want ,of their own company. 6.Most of the profits will be kept in the local economy. It need not be expensive or complicated to do this if the sale is kept low key and not treated as some sort of multi billion international conglomerate as some people seem to think we are. There is nothing wrong with being a small company in a global market we can adapt quicker and we can cut costs, if required very quickly as proved by the voluntary redundancy scheme. Who are these experts and advisers that are helping with the sale? I don't know, do you. Cable and wireless make massive losses and yet the directors are paying themselves twenty million pound bonuses, do you really think people like that will care about Jersey in any way, shape or form.
These views are my own and not those of the company or union. Mark Wood