Senator Walker when past chairman of the Guiton Group, in one of his annual statements of the years business, is on record as stating that profits in difficult trading conditions have been buoyant, due to a streamlining of management. It does show however that Frank Walker, had his hands firmly on the reins of the company and let go managerial staff to keep the company profits high, in problem times. An astute businessman, certainly no idiot.
For clarity all quotes are in green.Most of Jerseys' public including myself, thought that web who are operating as a quango, is pretty much self ruling but this is actually not the case. After researching Government documents it is a fact that Senator Frank Walker has immense authority, underlined by the Auditor Generals interim report on WEB dated 30th June 2008.
Page 15.
48.
Following the introduction of ministerial government, the chief minister, as successor to the policy & Resources committee has the power to give directions to WEB.Page 16
49.
Moreover, certain powers of the board (e.g. those to borrow and to mortgage the companies property) may only be exercised with the prior written consent of the Chief Minister (as successor to the policy and resources board.www.auditorgeneral-jersey.org/pdf/WEB%20Interim%20report%20-%2030%20June%202008.pdfManaging director Stephen Izatt in the JEP. Monday 23rd June is quoted, and says,
Mr Izatts said that it was Harcourt's responsibility to inform WEB of any court action that they felt would have an impact on the project in Jersey. The onus is on Harcourt to inform us, he said.Further Frank Walker acknowledges mistakes in the JEP 3rd July.
Senator Walker said that the chief executive of WEB apologised to him……………..He did get it wrong on how he advised me, but he has put up his hands and apologised. In private enterprise had a boss not done is homework and lost the company money or embarrassed the company or misinformed the chairman, then heads would roll. However whatever WEB may think of itself, it is still dealing in assets owned by the islanders and should be accountable and is............ to the CM and through him the states. The latest project is to bring about one of the largest and most expensive projects in the history of Jersey.
This WEB farce in the real business world, would be seen as sheer incompetence, well past being naïve or even mistaken, because of poor due diligence,and the multi millions involved.Its a fact that the developer, did have law suits pending during the time WEB were supposed to be carrying out important checks. You have heard many of the details so I shall not rake over again, but it was Web's job to protect the public's assets and interests, and their head honcho Stephen Izatt, M/D to oversee the work.
CM Frank Walker with his proven acute business acumen has robustly defended The WEB directors,
So Frank Walkers old Guiton Groups management are sacked for no other reason than to keep profits high. However Web's disgraceful handling of the publics land / money farce and the team headed by Mr Stephen Izatts messed up the due diligence, process that we are told misled and embarrassed the Chief Minister who had never been so angry in his political career. Incompetence let of the hook, is this the norm for highly paid, high ranking civil servants Senator Walker, can this really be correct? is this really the best you can do to protect the publics assests ?Scrutiny in a damming report, scuppers the formation of the Jersey Enterprise Board who's aim was to control billions of pounds worth of Jersey land, and property. The question must be asked is the retiring Senator Frank Walker still hungry for land control when he no longer has a say in the States, by possible becoming Chairman of WEB with Little Terry good friend and long term ally as Chief Minister with his all important signature at the ready ?
http://www.auditorgeneral-jersey.org/CAG-News.htm
