V.I. MEN TOP THE D.R., HEAD TO FINALS

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SAN GERMAN, Puerto Rico — The Virgin Islands men's team, using a strong second-half effort, survived a stiff test on Wednesday to beat the Dominican Republic 103-85 and sealed a spot in the Central America and Caribbean University Games basketball final.
Cuthbert Victor, who graduated from St. Joseph's High School only months ago, pumped in 21 points and four other V.I. players had 16 or more points as the Virgin Islands improved to 3-1 in the six-team field.
"This is the kind of game we wanted," said Steven Hodge, who scored seven of his 17 points in the final minutes to secure the victory. "We showed we can play from behind. This will give us confidence going into the championship. Once we play together, we are hard to beat."
The Virgin Islands, which lost to host Puerto Rico 83-57 on Sunday, will finish preliminary-round play Thursday against Colombia while unbeaten Puerto Rico, the other finalist, plays the Dominican Republic.
The V.I. basketball team is competing in the CAC University Games for the first time. The University Games, which uses an Olympic-style format, are the highest level of athletic competition in the region solely for college students.
Victor, a Murray State signee, scored eight straight points early in the second half to give the Virgin Islands a much-needed spark. During that stretch of the game, Victor blocked a shot, raced downed court, grabbed the offensive rebound and scored on a put back.
Ex-Central High star Tyrone Allick, a former two-time Virgin Islands' high school athlete of the year, came off the bench to score 18 points. Teammate Carlos Hawkins, a all-state player in Delaware, had 17 points and Alphonso Niles, a Sts. Peter & Paul alumnus, added 16 points.
Hodge, an Educational Complex alumnus, scored seven straight points late in the game to give his team a 97-82 lead, sealing the victory with two minutes to play.
"The whole group became one," said V.I. Coach Jose Paris. "Carlos, Cuthbert, Tyrone . . . they all played inspirational ball. Especially Tyrone because he was playing hurt. I had to bring him off the bench."
The Dominican Republic, which led 54-49 at the half, started the game with 5-0 and 9-2 leads. The Virgin Islands' first lead came five minutes into the contest when Leroy Gore's jumper gave the team a 16-14 advantage. Seconds later, Victor added a dunk. At that point, the Dominican Republic went on a 7-0 run, aided by poor V.I. free-throw shooting. The V.I. missed six straight free throws during one stretch of the first half, allowing the Dominican Republic to hold leads up to nine points in the first half.
Ramon Fartuoso paced the Dominican Republic with 23 points, while Carlos Paniagua added 20 points.
The V.I. Women's team, 1-2, had the day off on Wednesday. The team will Puerto Rico at 6 p.m. Thursday in the final game of the preliminary round.

AMAZING TO LOG ON FROM 1,000 MILES AWAY

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Dear Source,
It still amazes me each time I log onto a web site that is a thousand miles
away. I enjoy reading your paper.
My wife and I have been on many cruises to your beautiful island. Sitting here at my desk in Akron, Ohio it's nice to read about the news there.
Gary Nist
Akron, Ohio

YOUTH GAMES OFF TO A SHAKY START

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The Virgin Islands effort to host the 2000 World Youth Games has started out on the wrong foot and it remains to be seen if the games can be salvaged.
An estimated 600 young people and chaperones from five cities and the V.I. are on St. Croix to participate in the games. But before any events had taken place, Tuesday night's opening ceremonies at the Paul E. Joseph Stadium in Frederiksted were cancelled because buses never picked up the kids.
On Wednesday, officers of the V.I. Youth Games Inc., off- and on-island volunteers, government employees and the president of the V.I. Olympic Committee, Hans Lawaetz, met to discuss how to salvage the event.
Lawaetz said Wednesday evening that the Olympic committee wasn’t involved in organizing the Youth Games and had in fact voted in June not to get involved because of its own funding issues in an Olympic year. Still, when organizers called seeking help, the committee offered logistical assistance in bringing the athletes, who are being housed all across the island, to their respective events.
"There is no money to pay for busing, that’s the biggest headache," Lawaetz said. "We feel that since there has been a commitment and these young athletes are here, there has to be a competition."
The president of the V.I. Youth Games Inc., Ralph Wilson, has moved to Texas and Orville Armstrong, an event coordinator, couldn’t be reached for comment. V.I. Youth Games Inc. officer Maureen Rabsatt-Cullar blamed lack of funding from the government and the private sector for the difficulties. "Unfortunately the support we received from the community wasn’t what we hoped it would be," she said.
Despite the lack of organization, Oliver Washington, national coordinator of the Youth Games, tried to put a positive spin on things. Mr. Washington, a South Carolina resident, said the games were back on track after Wednesday’s meeting.
"We’ve enjoyed ourselves so far and we look forward to the competition," he said.
Lawaetz said organizers are trying to arrange transportation from Vitran, Public Works and the Department of Housing Parks and Recreation. Depending on transport, basketball, golf and track and field events are set for Thursday, bowling and volleyball for Friday and swimming and tennis for Saturday. The games are scheduled to close on Sunday.
Lawaetz said the V.I. Olympic Committee earlier this year recommended to the local organizers that the games be cancelled because of financial shortfalls. But he said he was told it was too late — the visiting teams had already put down deposits for accommodations and travel.
He said the Olympic committee voted not to contribute because it had already spent more than $40,000 to send teams and individual athletes abroad to compete in pre-Olympic events.
"We spent a lot of money to get prepared for the Olympics. We just don’t have any money right now," Lawaetz said. "Our first priority are the federations and the Olympics. There is just so much we can do."

YOUTH GAMES OFF TO A SHAKY START

0

The Virgin Islands effort to host the 2000 World Youth Games has started out on the wrong foot and it remains to be seen if the games can be salvaged.
An estimated 600 young people and chaperones from five cities and the V.I. are on St. Croix to participate in the games. But before any events had taken place, Tuesday night's opening ceremonies at the Paul E. Joseph Stadium in Frederiksted were cancelled because buses never picked up the kids.
On Wednesday, officers of the V.I. Youth Games Inc., off- and on-island volunteers, government employees and the president of the V.I. Olympic Committee, Hans Lawaetz, met to discuss how to salvage the event.
Lawaetz said Wednesday evening that the Olympic committee wasn’t involved in organizing the Youth Games and had in fact voted in June not to get involved because of its own funding issues in an Olympic year. Still, when organizers called seeking help, the committee offered logistical assistance in bringing the athletes, who are being housed all across the island, to their respective events.
"There is no money to pay for busing, that’s the biggest headache," Lawaetz said. "We feel that since there has been a commitment and these young athletes are here, there has to be a competition."
The president of the V.I. Youth Games Inc., Ralph Wilson, has moved to Texas and Orville Armstrong, an event coordinator, couldn’t be reached for comment. V.I. Youth Games Inc. officer Maureen Rabsatt-Cullar blamed lack of funding from the government and the private sector for the difficulties. "Unfortunately the support we received from the community wasn’t what we hoped it would be," she said.
Despite the lack of organization, Oliver Washington, national coordinator of the Youth Games, tried to put a positive spin on things. Mr. Washington, a South Carolina resident, said the games were back on track after Wednesday’s meeting.
"We’ve enjoyed ourselves so far and we look forward to the competition," he said.
Lawaetz said organizers are trying to arrange transportation from Vitran, Public Works and the Department of Housing Parks and Recreation. Depending on transport, basketball, golf and track and field events are set for Thursday, bowling and volleyball for Friday and swimming and tennis for Saturday. The games are scheduled to close on Sunday.
Lawaetz said the V.I. Olympic Committee earlier this year recommended to the local organizers that the games be cancelled because of financial shortfalls. But he said he was told it was too late — the visiting teams had already put down deposits for accommodations and travel.
He said the Olympic committee voted not to contribute because it had already spent more than $40,000 to send teams and individual athletes abroad to compete in pre-Olympic events.
"We spent a lot of money to get prepared for the Olympics. We just don’t have any money right now," Lawaetz said. "Our first priority are the federations and the Olympics. There is just so much we can do."

YOUTH GAMES OFF TO A SHAKY START

0

The Virgin Islands effort to host the 2000 World Youth Games has started out on the wrong foot and it remains to be seen if the games can be salvaged.
An estimated 600 young people and chaperones from five cities and the V.I. are on St. Croix to participate in the games. But before any events had taken place, Tuesday night's opening ceremonies at the Paul E. Joseph Stadium in Frederiksted were cancelled because buses never picked up the kids.
On Wednesday, officers of the V.I. Youth Games Inc., off- and on-island volunteers, government employees and the president of the V.I. Olympic Committee, Hans Lawaetz, met to discuss how to salvage the event.
Lawaetz said Wednesday evening that the Olympic committee wasn’t involved in organizing the Youth Games and had in fact voted in June not to get involved because of its own funding issues in an Olympic year. Still, when organizers called seeking help, the committee offered logistical assistance in bringing the athletes, who are being housed all across the island, to their respective events.
"There is no money to pay for busing, that’s the biggest headache," Lawaetz said. "We feel that since there has been a commitment and these young athletes are here, there has to be a competition."
The president of the V.I. Youth Games Inc., Ralph Wilson, has moved to Texas and Orville Armstrong, an event coordinator, couldn’t be reached for comment. V.I. Youth Games Inc. officer Maureen Rabsatt-Cullar blamed lack of funding from the government and the private sector for the difficulties. "Unfortunately the support we received from the community wasn’t what we hoped it would be," she said.
Despite the lack of organization, Oliver Washington, national coordinator of the Youth Games, tried to put a positive spin on things. Washington, a South Carolina resident, said the games were back on track after Wednesday’s meeting.
"We’ve enjoyed ourselves so far and we look forward to the competition," he said.
Lawaetz said organizers are trying to arrange transportation from Vitran, Public Works and the Department of Housing Parks and Recreation. Depending on transport, basketball, golf and track and field events are set for Thursday, bowling and volleyball for Friday and swimming and tennis for Saturday. The games are scheduled to close on Sunday.
Lawaetz said the V.I. Olympic Committee earlier this year recommended to the local organizers that the games be cancelled because of financial shortfalls. But he said he was told it was too late — the visiting teams had already put down deposits for accommodations and travel.
He said the Olympic committee voted not to contribute because it had already spent more than $40,000 to send teams and individual athletes abroad to compete in pre-Olympic events.
"We spent a lot of money to get prepared for the Olympics. We just don’t have any money right now," Lawaetz said. "Our first priority are the federations and the Olympics. There is just so much we can do."

MORE COCAINE FOUND, DPNR GETS SUSPECTED BOAT

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Enforcement officials with the Department of Planning and Natural Resources said Wednesday that custody of a suspected drug smuggling boat that ran aground near St. Croix has been turned over to them by federal authorities.
DPNR Commissioner Dean Plaskett said the vessel is believed to have a connection with "illegal activity in the area," but neither the commissioner nor spokeswoman Annette Morales would say what sort.
U.S. Coast Guard Lieut. Tim Lavier said the boat may have some connection with the appearance of about 385 pounds of cocaine on the shores of St. Croix since last weekend. Another 220 pounds was recovered Tuesday.
But Lavier said no clear connection between the boat and the contraband has been made. "We do not have any confirmation that is so. We have the boat, we have the bales of cocaine. No bales or contraband was found inside the boat," he said.
According to the Drug Enforcement Agency’s resident agent on St. Croix, Paul Toner, Coast Guard personnel rescued four men from the Dominican Republic in the vicinity of Longford Reef, where the vessel ran aground. The men were turned over to a Dutch naval vessel and taken to St. Maarten.
Sgt. Joseph Donahue of the V.I. Police Department’s marine unit said 10 bales of cocaine had been recovered on the shores of St. Croix since the weekend. He said officers would continue to patrol the sea and shore.
Plaskett said an assessment will be made to determine the extent of damage inflicted on Longford reef.
"A determination will be made with respect to the safe and quick removal of the vessel to minimize possible additional damage," Plaskett said.

MAXWELL USED HACKSAW BLADE TO MAKE ESCAPE

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Although law enforcement officials still don’t know where prison escapee Bradley "Hurtie" Maxwell is hiding, they do now know how he made his break from St. Croix’s Golden Grove Correctional Facility.
Maxwell, who was reported missing Monday from the prison, used a hacksaw blade to cut through the bars on his cell, according to V.I. Attorney General Iver Stridiron, who oversees the Bureau of Corrections.
"We were able to determine that Mr. Maxwell got hold of a hacksaw blade and over a period of time cut the bars of his cell," said Stridiron, adding that Maxwell probably escaped late Sunday night or early Monday. Stridiron said that because of short staffing at Golden Grove, there probably were too few corrections officers on duty at the time of the escape.
An investigation is under way to determine whether Maxwell obtained the saw blade through negligence on the part of prison staffers or whether it was given to him.
"We’re very concerned that he was able to get ahold of a hacksaw blade," Stridiron said. "We’re looking at every single aspect with an eye toward preventing it in the future."
Maxwell, 22, is serving 30 years for murdering a St. Thomas bar owner in 1997 and an additional five years for escaping the Sub Base Jail Annex on St. Thomas. He is a black male, 5-feet, 10-inches tall, weighs 175 pounds and wears his hair in short, twisted locks, said St. Croix Deputy Police Chief Novelle Francis. He is considered dangerous.
Maxwell eluded law enforcement for several weeks following his escape on St. Thomas two years ago after shaving his locks.
On Monday, Stridiron said Maxwell’s lack of familiarity with St. Croix would make it difficult to remain free for long. However, Maxwell reportedly spent a lot of time on the island as a youth, where he racked up a juvenile record.
The prison is being expanded to accommodate the return of 90 Virgin Islands prisoners being held in federal prisons on the mainland, and the expansion will include a new high-security wing. Currently, the facility doesn’t have a maximum security section – where Maxwell should have been kept – in the "traditional sense," Stridiron said.
To accommodate the incoming prisoners, the BOC must hire another 35 guards, Stridiron said.
Francis said police have received several calls reporting the possible sighting of Maxwell. He urged residents who think they have spotted him to call 911, 778-2211 or 778-0400 immediately.

SCUBA DIVER MISSING AT CANE BAY

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Search crews on Wednesday continued looking for the body of a man believed to have drowned during a deep cave-diving mishap Tuesday evening at Cane Bay.
According to police officials, James Fraser, 29, of St. Croix, and an unidentified second man ventured down to at least 250 feet off of "The Wall" at Cane Bay to explore caves. By the time the pair began ascending, their air levels had diminished significantly and Fraser had his hand on the shoulder of his dive buddy. At some point during the ascent the two lost contact and Fraser hasn’t been seen since.
Officers from the V.I. Police Department’s marine unit and the U.S. Coast Guard participated in the search Wednesday, while certified search and rescue divers combed the area Tuesday night starting at about 8 o'clock when Fraser’s dive partner reported the incident.
The deepest that recreational divers can go without mixing gases to breathe is 130 feet, search officials said. As of Wednesday it was unclear whether Fraser and his partner had been using the specially mixed air. Even under ideal conditions, divers who venture to such depths often experience disorientation.
Although police officials said Fraser had been living on St. Croix, they didn’t know where he was from on the mainland or if his family had been notified. The search for Fraser is expected to last at least another day.

COOK-RUTNIK'S ARTWORK TO BE SHOWN IN CUBA

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St. John artist Janet Cook-Rutnik is about to set foot in new artistic territory, traveling to Cuba to take part in an international exhibition in Havana with the theme of "Myths of the Caribbean."
Participation in the exhibition, from Aug. 7 to 11 at Havana's Casa de las Américas, is by invitation from the Centro de Estudios del Caribe (Center for Caribbean Studies) based there, Cook-Rutnik said.
She got her invitation indirectly as a result of the solo show she had last November at the Museo de las Américas gallery in Old San Juan.
She will be exhibiting two mixed-media assemblage pieces from her Goddesses Series, "Persephone" and "Portia." Five other works in the series are on permanent display in the promenade leading to the ballrooms at Marriott's Frenchman's Reef Beach Resort on St. Thomas.
Both of the nearly life-size mixed-media/collage images of female figures were in her solo show in Puerto Rico. "The organizers of this show saw my catalogue from that one," she said. As a result, "We've been e-mailing each other since last December."
On the mundane level, Cook-Rutnik noted that it was "really great being able to correspond by e-mail." In the pre-Internet days, she recalled, she had tried on occasion to communicate with people in Cuba by faxing, "but the numbers were not always good, and you could not always get a good line."
It's not surprising that the Cubans solicited Cook-Rutnik's participation in the exhibition they were putting together. In the catalogue for the November show, Marianne de Tolentino, president of the Dominican Republic's Association of Art Critics, writes that the St. John artist's paintings "don't deconstruct reality but transform it with an infusion of spirituality, resurrecting the myths, regardless of their origin, establishing an order among nature, the emotions and the arts."
"Persephone" was the subject of an article in the January/February issue of International Artist magazine. In the article, Cook-Rutnik is quoted as saying of the work, "I have always identified with the idea of the artist as an alchemist, a shaman or a ‘conjur woman' who acts as a conduit between the physical world and the spiritual. Much of my work is produced long before I can find the words to express the deep-rooted impulses and instincts from which it springs."
Noting that "identity" is a major theme in contemporary Caribbean art, she states in the article, "My work seeks to address this issue through a search for the meaning in memory and history. Through the use of poetry and history, old and new symbols, I seek to create subtle visions that reflect both a personal and a universal viewpoint."
The Havana art exhibit is just one aspect of a week-long colloquium being presented by the Center for Caribbean Studies on the "Myths" theme. Writers, scholars and some of the visual artists will be presenting papers on the topics of how myths emerge, survive and change in the region and what their impact has been on the history, art, literature, mass culture, power and rituality of Caribbean culture and society.
"They invited me to present a paper if I wanted to," she said, but she declined. "I think I speak better in images," she explained. "My voice is stronger on paper or canvas."
Last week, she noticed in the exchange of communications that she would need a special Cuban visa. "I panicked and said there was no way," she reflected. But there turned out to be no problem. "They've taken care of it," she said of her Havana hosts. "They will meet me at the airport with the special visa."
To get to Cuba, Cook-Rutnik will be traveling first to the Dominican Republic, visiting both for the first time. Because there are just two flights a week from Santo Domingo to Havana, she will spend a couple of days visiting artist acquaintances and one of the top curators in the Caribbean in Santo Domingo's Old Colonial City section that dates from the arrival of the early Spanish explorers.
Less than a week after she gets back from Cuba, Cook-Rutnik will be off to Puerto Rico again, to participate in a colectiva,, or group show, of artists represented by Galerías Prinardi in Hato Rey, from Aug. 17 to 31.
Her works in that show will include art from her November exhibition plus "a couple of new pieces – paintings, acrylic on canvas." The new works, she said, represent a continuation of established themes.
She will be transporting "Persephone" and "Portia" with her from San Juan to Santo Domingo and then on to Havana. "I'll be doing this terrific exchange," she explained. "My gallery in San Juan is going to meet me there with those two pieces all packed." Arriving from St. Thomas, "I'll probably hand them work for the group show the following week."
A broad sampling of Cook-Rutnik's work, including a larger image of "Persephone," shown above, can be seen on her web site at www.cookrutnikART.vi. "Persephone" is designated as work #10 under Galleries/Painting at the site.

SENATE CONSULTANT CITES PROS, CONS OF WAPA DEAL

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The 23rd Legislature released the findings Wednesday of an independent consultant's study of the proposed joint venture between the Virgin Islands government and Southern Energy Inc. that would have SEI acquiring 80 percent of the Water and Power Authority. The consulting firm, Arthur D. Little, outlined advantages and disadvantages based on the proposal which awaits action by the Senate.
Ten senators were in attendance at a briefing the consultant representatives held Wednesday on St. Thomas at the Renaissance Grand Beach Resort: Senate president Vargrave Richards and Sens. Gregory Bennerson, Lorraine Berry, Adelbert Bryan, Donald "Ducks" Cole, Roosevelt David, Violet Anne Golden, David Jones, Almando "Rocky" Liburd and Allie Allison Petrus. Not present were: Sens. Adlah "Foncie" Donastorg, Judy Gomez, George Goodwin, Alicia "Chucky" Hansen and Norman Jn-Baptiste.
Richards said the objective of the Arthur D. Little study of the agreement was to determine whether the government would be getting fair market value for the public utility. "ADL has provided us a comprehensive report that lists a series of advantages and disadvantages," he said in a broadcast interview.
According to Richards, the advantages cited by the consultants are:
– The Southern proposal meets the objectives of privatizing WAPA.
– The joint venture would solve the short-term financing problem the government faces.
– The amount offered for the 80 percent ownership stake was "reasonable."
– Southern is a financially sound energy company with world expertise in utility operations.
– A majority of the risk associated with future operations and financing of the utility would be transferred to Southern.
– The employee benefits package is generous compared to other privately owned utilities.
– The transaction is "legal and can be done quickly."
As disadvantages of the proposal in its present form, the Arthur D. Little report cited:
– A privatization process was not established and agreed to by all major stakeholders prior to consideration of the Southern proposal, leading many to the conclusion that the proposal is not fair.
– An open, competitive bid process was not utilized, thereby limiting the range of options available to the government.
– Going through a bidding process might result in a higher valuation and subsequent transaction.
– Alternative ownership options (e.g. stock offering or employee buyouts) and management structures have not been considered.
– Neither WAPA nor its employees have been given the opportunity to present a comparable proposal that would achieve the same benefits without a transfer of ownership.
– There is significant risk associated with the government's ability to maintain 20 percent ownership in the proposed limited liability company.
The ADL report urged the legislature to consider both the pros and cons associated with the proposed transaction before making a final decision. In its summary report, ADL noted that the analysis by its company and that by PricewaterhouseCoopers, the administration's consultant, demonstrates that the value of WAPA could be as high as $200 million. "As with any privatization effort, the only way to establish the ‘real' value of WAPA is through a competitive bid process," the consultants wrote.
The report also stated that a number of objectives typically included in a utility privatization process have not been addressed in the joint venture proposal. Among them: increased competition, renewable energy, end-use efficiencies, on-site generation and convergence.
No significant legal or liability risks seen
The report reviewed Federal Emergency Management Agency coverage, the tax-exempt bonds, the Hovensa agreement, Industrial Development Commission credits, employee protection and regulatory implications. It concluded that that there are no significant legal issues or potential liabilities that could put the proposed transaction at risk.
However, ADL cautioned that the "primary risk is that an attempt to block the transaction will be based on the lack of an open, established process that allowed input from the general public."
The report suggested that WAPA could achieve the benefits of the proposed transaction on a "go-it-alone" basis but said this would require significant changes to WAPA's culture and the industry structure. Assuming that WAPA could implement the same plan as Southern, it said, the joint-venture proposal would result in a lower value to the government in the long term than a "go-it-alone" strategy.
On the other hand, it said, the short-term cash infusion and transfer of risk to SEI are significant benefits to the government under the proposal that would be lost under a "go-it-alone" strategy.
ADL also addressed the risk of bankruptcy associated with the transaction, saying that it primarily centers on "the government's ability to make utility payments and meet capital calls." In a bankruptcy, Southern would most likely assume full ownership of the new company to be created, Virgin Islands Electric and Water (VIEW), it said, although the agreement "does not explicitly address the scenario."
Senate president says hearings are still on
Richards said there was no immediate indication as to whether the Arthur D. Little report had influenced his colleagues. "A number of senators were briefed," he said, and all "had the opportunity to quiz the independent consultant hired by the Legislature."
The Senate is staying with the previously announced schedule to conduct public hearings on the proposal next week, he said – on Tuesday on St. Thomas, Wednesday on St. Croix and Thursday on St. John. That timetable also calls for the Senate to meet the following day, Friday, Aug. 11, to debate the issue and then vote the proposal up or down.
There are efforts afoot to delay the hearings on the three main islands for at least 60 days, given the new information in the ADL report. Central Labor Council president Luis "Tito" Morales said Wednesday that the Senate "should allow all parties to be heard – not only the joint venture [partisans] but those that have been working on an employee cooperative option."
WAPA's real worth still in question
Liburd said he has concluded that the Senate should reject the joint venture proposal. "One of the key things is the difference in the value of WAPA arrived at" by PricewaterhouseCoopers, the administration's consultant, and Arthur D. Little, he said. He also noted that the ADL report repeatedly refers to the proposal as equivalent to a monopoly, a scenario where the true value of WAPA is never determined.
"My concerns have always been over the true value of WAPA," Liburd said. "Until that is known, you cannot enter into a reasonable discussion about the value of the utility." He noted that the ADL said the selling price could be much higher than an immediate $148 million.
The proposal, negotiated by a government team, would give the Atlanta-based Southern Energy 80 percent ownership of WAPA in a deal projected to be worth between $380 million and $400 million over 25 years. The immediate value of the deal to the government is about $148 million, including the forgiveness of $31 million the government owes WAPA and other indebtedness, Turnbull said Tuesday. SEI would pay the government approximately $105 million in cash up front.
Liburd noted that the report questioned why the sale of WAPA wasn't put out to bid. He said the one way to estimate the real value of the utility would be through the competitive bid process. "Based on the presentation today, we'd be doing the wrong thing if we went forward." he said.
Also Wednesday, PricewaterhouseCoopers consultant Johan Vant'Hof sought to explain the difference in the two consultants' assessments of the
value of WAPA. "The book value of WAPA is about $80 million, and the book value of VIEW after the transaction will be $50 million because of the wipe-off of the government debt to the utility," he said. He said the proposed transaction is valued at 2.7 times book value, "which is higher than the U.S. average of utility acquisition."
Donastorg still against deal, Turnbull still for it
Adlah "Foncie" Donastorg, an opponent of the WAPA deal, said he didn't attend the ADL briefing held Wednesday at the Renaissance Grand Beach Resort because he wasn't given a copy of the report beforehand. He said he didn't want to attend the meeting without having a chance to review the report for himself so he could be prepared to ask questions. He said he stayed in his St. Thomas office until 8 p.m. Tuesday assuming that "it would be protocol to provide each senator a copy of the report."
He questioned why the meeting was held behind closed doors at a resort and not in a government building. But he said the most disturbing aspect was what he termed Richards' efforts to control the release of information contained in the ADL analysis. "I cannot support the orchestrated efforts to manage information," Donastorg said.
Government House spokesman James O'Bryan Jr. said late Wednesday that Gov. Charles W. Turnbull had huddled with his financial advisors after seeing the ADL report. The governor has concluded, based upon the consultant's report, that there is sufficient reason for the proposal to go forward, O'Bryan said.
"It has supported our contention all along that the proposal was legal and that [it] in general supports our objectives," O'Bryan said. He added that the governor's financial team believes the ADL report is "basically fair and generally positive."