Today I was reading the Jamaica Observer on-line and I saw the following;
Over US$100 million ($10 billion) went into developing the Digital Video Broadcast system that powers the LIME Mobile TV service. Developed in collaboration with cable company DC Digital, the technology provides customers with access to television and cable channels from their mobile phones.
Source LIME suspends mobile TV www.jamaicaobserver.com
Now I always knew that this mobile TV push was a huge joke in my opinion and never gave it a half chance. I knew some would benefit as it will have a CAPEX and a OPEX.
But what I did not know was that US$100 million would have been pumped into it. Maybe the author meant to write US$10 million.
I really believe that the figure quoted in the article is a typographical error.
If it is not an error, LIME and its share holders should seek answers as to how such valuable resources were wasted for only 2 short years. Even if it is US$10 million they all deserve an answer.
I wonder how it feels to be a manger that presided over such a massive loss in such a short space of time?
Maybe I should be working at LIME and or get some contracts. As it seems that there is money to be made from crazy projects.
Then it got worse after I read how LIME Jamaica is doing.
Meanwhile, LIME Jamaica racked up losses of $5.5 billion for the financial year under review
LIME’s fixed-line sales have fallen five consecutive years from $12.5 billion in 2009 to $7.6 billion for the year under review.
Now I really want a job at LIME Jamaica, because I would not have to perform and collect a fat pay check for years. that’s easy street.
Can you imagine, keeping your job for years even when the sector you manage is not performing?
That must be the best job and the best employer one could ever have.
I wonder if they would give me my own private jet if I was able to grow the sector by leaps and bounds?