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Charlotte Amalie
Monday, February 26, 2024
HomeNewsArchivesRemember WAPA is Government 'Owned'

Remember WAPA is Government 'Owned'

Dear Source,
In response to: 'It's About Time WAPA Turned Off the Lights' one should remember that for all practical purposes WAPA is 'owned' by the USVI government. And since all the employees of WAPA are getting paid on time and there have been no reports of WAPA not paying it's bills, any money owed by the USVI government to WAPA represent 'profits,' and are thereby, ultimately, property of the USVI government.
Perhaps for accounting purposes the USVI government should write a check to WAPA for the $15 million 'owed,' and immediately take it back as a profit distribution. Then the debate can focus on the real issues.
Warren Mosler

Editors note:We welcome and encourage readers to keep the dialogue going by responding to Source commentary. Letters should be e-mailed with name and place of residence to source@viaccess.net.

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