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October 2004 | November 2004 |
 President's Message (Jackie Parnell)December Meeting Features Proposal to Address Agricultural Lands (Jackie Parnell)Volunteer for ElectionDiscussion Group Meets Oct. 21 (Evangeline Funk)Parlor Game for Civil Liberties (Dorothy Cornell)Constitutional Amendments Debated (Arlene Ellis)Phone Company Takeover Bears Watching (Pearl Johnson)Welcome New MembersConference on Judicial IndependenceView Sovereignty TapesDebate History Tapes AvailableCity Planner at Planning & Zoning Meeting Oct. 26 |
Phone Company Takeover Bears WatchingOn October 5, I attended the hearing on the takeover of our telephone company by the Carlyle Group. Up to then I had heard only favorable things about the transfer. But at this Public Utilities Commission hearing I became aware that the Carlyle Group has a history which I decided to research. Google gave me an Oct. 31, 2001, article in the Guardian, a daily newspaper in England. This story is a short history of the Carlyle Group and is displayed by a number of websites giving information to investors. It says that "In a decade and half, the firm has been able to realize a 34% rate of return on its investments ...." The Honolulu Advertiser on Oct. 26 quotes Walter Dods as acknowledging that at some point Carlyle would likely look to cash out of its investment. The same news story says "Carlyle officials said the group typically holds on to its investments for about four years." The League of Women Voters has taken no position on any of this. I express only my personal opinion that we all need to pay close attention to the transfer of our telephone company, which must still be approved by the Public Utilities Commission. What will the Carlyle Group do to our vital utility to make it return 34% in 4 years, or even 10 years'? Pearl Johnson |
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