Dear Editor:
Re: City Loans Lonsdale Energy Corp. $12M, Jan. 1
A $12 million dollar loan, are you kidding me? I am a shareholder in this corporation (as an already over burdened taxpayer) and am at a loss for words.
It is not the city's responsibility to become a provider of cheap utilities to 42 customers; we already have private corporations doing a perfectly good job of that.
I am sure that if the $12 million was coming out council's own funds, they might not be quite as eager to loan the money to this sinking ship.
The mayor said, "I can tell you there is a huge market for white elephants because every energy utility around would love to buy and operate Lonsdale Energy Corp. They see it as a great asset."
Please, Mr. Mayor, do us all a favour: sell it and sell it fast before we put any more into the bottomless pit.
If, as the mayor claims, LEC is one of the city's great assets, we are in a lot of trouble.
Duncan Dickinson
North Vancouver
