pontiuspilot Posted January 16, 2006 Share Posted January 16, 2006 The mea saga is a smoke screen. The £180 million loan obtained by MP was spent on the power station and the cable to the UK. Although he did this without refernce to Tynwald, the plan if allowed to run to completion would have become profitable in 10 years. It would have allowed us to sell electricity to the Uk, make money from ISP technology, brought cable and broadband to every home in the Isle of man. The reason why it did not is because the spanish firm who own O2, who own Manx Telecom found out and did not like the idea of the ending of there monopoly. So they 'pursuaded' the Manx government to stop the MEA project. This means that the £15 million clear profit still goes to the spanish telecom firm each year from Manx Telecom. The MEA deal would have benefited the Manx people and we would already have cheap energy and telcoms supplies as well as cable and broad band. The police are going after the MEA board in order to keep the attention away from the government because the Manx government did not have the balls to tell the spanish telecom firm to get lost, and they need to hold someoene other than themselves accountable for the £180 million loan that now in part at least has gone to waste. MP exceeded his brief in securing the loan with Barclays, but given his close conections with the MEA and Barclays it is not hard to see how he acomplished this. He did so as mentioned for the beniefit of the buisness he was running. as this was the MEA then ultimately as said above the Manx tax payer would have been the beneficiary. So in conclusion the MEA saga as it now APPEARS to stand is all an effort to keep the scrutinising eyes away from the real villains in all this THE MHK'S who did not have the guts to see the thing through to the end. It is they who should be held acccountabloe for the money that now has to pay off this loan, and MP for not seeking approval for the loan and the plan from tynwald before he took out the loan. P.S. The police force has its own reasons for keeping this and other inquiries going, as it takes peoples eyes off there patch. Link to comment Share on other sites More sharing options...
ans Posted January 16, 2006 Share Posted January 16, 2006 Wouldn't a major flaw in your theory be the fact that 02 isn't owned by Telefonica? Just checking. Link to comment Share on other sites More sharing options...
pontiuspilot Posted January 16, 2006 Author Share Posted January 16, 2006 m not sure at this stage who the owner is, that is why i did not directly name them, but this does not detract from anything i have stated. Link to comment Share on other sites More sharing options...
AlexMcC Posted January 16, 2006 Share Posted January 16, 2006 Interesting story, seems to fit in my head. Since O2 was only bought last year, I suppose the profits were for O2's pockets...... Link to comment Share on other sites More sharing options...
Slim Posted January 16, 2006 Share Posted January 16, 2006 Figures don't really stack up. If a telecoms company is making 15 million a year profit from all telecoms services, how is a broadband isp going to make 180 million back in ten years? The broadband over power was always a bloody stupid idea. mea should just lease the cable to isps and make money from people who know what to do with it. Link to comment Share on other sites More sharing options...
ans Posted January 16, 2006 Share Posted January 16, 2006 m not sure at this stage who the owner is, that is why i did not directly name them, but this does not detract from anything i have stated. You were quite explicit in your assertion that they were owned by a spanish company and that simply isn't true. I would think that a significant fallacy in what you say does detract somewhat from what you say. Link to comment Share on other sites More sharing options...
TheTool Posted January 16, 2006 Share Posted January 16, 2006 Its all about job's really if the monopoly ended there would be job losses. The manx government are far to close to MT and what we need is more choice rather than just having one supplier. The government need to grow a spine to be honest Link to comment Share on other sites More sharing options...
Snaipyr Posted January 17, 2006 Share Posted January 17, 2006 The mea saga is a smoke screen. The £180 million loan obtained by MP was spent on the power station and the cable to the UK. Although he did this without refernce to Tynwald, the plan if allowed to run to completion would have become profitable in 10 years. It would have allowed us to sell electricity to the Uk, make money from ISP technology, brought cable and broadband to every home in the Isle of man. The reason why it did not is because the spanish firm who own O2, who own Manx Telecom found out and did not like the idea of the ending of there monopoly. So they 'pursuaded' the Manx government to stop the MEA project. This means that the £15 million clear profit still goes to the spanish telecom firm each year from Manx Telecom. The MEA deal would have benefited the Manx people and we would already have cheap energy and telcoms supplies as well as cable and broad band. The police are going after the MEA board in order to keep the attention away from the government because the Manx government did not have the balls to tell the spanish telecom firm to get lost, and they need to hold someoene other than themselves accountable for the £180 million loan that now in part at least has gone to waste. MP exceeded his brief in securing the loan with Barclays, but given his close conections with the MEA and Barclays it is not hard to see how he acomplished this. He did so as mentioned for the beniefit of the buisness he was running. as this was the MEA then ultimately as said above the Manx tax payer would have been the beneficiary. So in conclusion the MEA saga as it now APPEARS to stand is all an effort to keep the scrutinising eyes away from the real villains in all this THE MHK'S who did not have the guts to see the thing through to the end. It is they who should be held acccountabloe for the money that now has to pay off this loan, and MP for not seeking approval for the loan and the plan from tynwald before he took out the loan. P.S. The police force has its own reasons for keeping this and other inquiries going, as it takes peoples eyes off there patch. That is exactly what I was told months ago (and think I mentioned it in a post) except for the Spanish company bit. MT is the one who put the pressure on to preserve their monopoly. Can anyone explain why it benefits us for MT and the IOMSPCo to have a monopoly agreement with our government? Link to comment Share on other sites More sharing options...
LoneWolf Posted January 17, 2006 Share Posted January 17, 2006 Can anyone explain why it benefits us for MT and the IOMSPCo to have a monopoly agreement with our government? I cant thats for sure but Im gonna ask MT and IOMSPCo tomorrow. Im sure they'll have the answers Link to comment Share on other sites More sharing options...
Mission Posted January 17, 2006 Share Posted January 17, 2006 Good for you, nice to see someone taking some action at the source instead of bleating about it on the internets. Let us know how you get on. Link to comment Share on other sites More sharing options...
Slim Posted January 17, 2006 Share Posted January 17, 2006 Can anyone explain why it benefits us for MT and the IOMSPCo to have a monopoly agreement with our government? In this matter, the provision of data services, MT don't have a monopoly. I think the real issue here isn't one of monopoly, it's one of a public company putting a private company out of business. I'm the first to slag off MT's practices, but I think in this case I think they're right. The government should support the private business, not compete with them. The MEA's plans for data over power were simply poorly thought out rubbish, that's not MT's fault. As I said, the gov would be far better off supporting the whole private sector by making the line available to all isp's to use. Link to comment Share on other sites More sharing options...
nipper Posted January 17, 2006 Share Posted January 17, 2006 What is the official line from MT regarding this fibre optic data cable thingy that the MEA (or their subsidiary) own? Link to comment Share on other sites More sharing options...
kite Posted January 17, 2006 Share Posted January 17, 2006 i heard the same story ages ago from an mea employee. how funny that a moderator with like 8000 posts accuses someone of bleating in the internet! Link to comment Share on other sites More sharing options...
pontiuspilot Posted January 17, 2006 Author Share Posted January 17, 2006 Figures don't really stack up. If a telecoms company is making 15 million a year profit from all telecoms services, how is a broadband isp going to make 180 million back in ten years? The broadband over power was always a bloody stupid idea. mea should just lease the cable to isps and make money from people who know what to do with it. buy selling services to others around the world via the net Link to comment Share on other sites More sharing options...
pontiuspilot Posted January 17, 2006 Author Share Posted January 17, 2006 What is the official line from MT regarding this fibre optic data cable thingy that the MEA (or their subsidiary) own? this was part of the £180 million, and now lies dormant Link to comment Share on other sites More sharing options...
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