So there you go, super rich celebrities, liberals, socially conscious billionaires (I’ve heard they exist): buy the utility and give it to the people of Puerto Rico - or lease it for a small amount or reasonable income stream. Let’s see who is ready to do put their money where their mouth is - Oprah?
First thought I had
Walk the Walk
Make it a perpetual endowment funded by a grant to start and operational funding from an ‘at cost’ co-op agreement amongst the people of PR
Lastly to be owned by the People without the right to sell.
Golly, that’s surprising. They’ve only been privatizing since the “default” crisis was engineered long before the hurricane. Puerto rico has been slated to become a private debt colony. And no one will come to their aid. They’re toast.
Private industry works better than the government as long as it doesn’t become the government.
The hording of supplies is well documented.
Can you imagine this in your town or city? We are faced with a growing problem no one is addressing. Our ability to survive a heating up planet. Our systems are so fragile there will not be the time or monies available to respond. We spend our monies on killing things instead of being proactive against the very real threat of climate change/global warming. We are stupid.
The way to finance this would be to tie union pensions ( IBEW & AFSCME ) to the public utilities rate costs. Just like a SS check + a 5% return on investment, for example. That rate board would have a citizens panel elected, not appointed. It would be secured by an open books process and citizens right to audit, etc.
Yep. PR needs a Fidel.
Horrifying and disgusting. Racism for profit, government intentionally incompetent for the sake of industry takeovers. The corporate duopoly is throwing the game.
I hope the Puerto Rican people, aided by the rest of the US, rise up and take over the infrastructure they already own, and prevent this cataclysm. If they don’t it’s only one of many to come. First they came for poor people of color’s infrastructure, then…