“DU(Doyon Utilities) is
suffering from a severe revenue deficiency
that is driven by
Customer(U.S. ARMY) requested and approved capital investment. To be
plain,
DU is reinvesting all of its depreciation expense and drawing
on its financing
resources($120-million in debt to Toronto-Dominion)
to meet its Customer's demand, and its owners are not receiving
dividend($15-million payback to Inland Pacific, a Canadian Investor
that purchased Fairbanks Sewer & Water, with $50-million in
preferred stock for the 10-shareholders) while being required to
contribute millions of dollars per year.
Very Truly Yours,
DOYON UTILITES
Daniel E. Gavora
President/CEO
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