Nalcor Silent - Hiding Something?

At a time when corporate executives - around the world - continue to fail, flail, and founder - it's time for Ed Martin and Nalcor bosses to reveal where the orders are coming from.

There is no doubt that the proposed Muskrat Falls project with Emera is a matter of extreme public concern. That concern is coming from all corners - retired and working energy experts, lawyers, retired politicians from the PC rank and file, academics, journalists, and citizens.

The way the government puts it - is that Nalcor runs its own ship and that would mean Ed Martin and other senior executives take their direction from the Board.

That being the case - the recently appointed Board members and chairperson of Nalcor would have an onerous responsibility respecting the project.

The Premier has played down the role of the Board and it's newly appointed Chair - presumably to argue against the need for relevant and significant experience on his resume.

If Ed Martin as President and CEO is actually calling all the shots and the Board serves more as a figurehead position - we the people and owners of Nalcor are in real trouble. That would not be reasonable or responsible for our corporation.

If Ed Martin is taking direction from the government - then the independent role of our major utility is subject to political operation and failing therefore to serve its mission and mandate.

So who's the boss of our multi-billion dollar company? That is the question and we the people need answers. At this point - I trust - the media will get to the bottom of this enigma.

On June 18th I wrote Nalcor for the second time seeking information on the Board and its Bylaws. 

As yet NO Reply.

On what basis is Nalcor refusing this information? 

Here is the request I sent to Nalcor:

This is basic and does not interfere with propriety information and if the company were publicly traded - I could read it online. 

Under section 10 of both the the Hydro Corporation Act 2007 and the Energy Corporation Act

Hydro Corporation Act, 2007

10. The board may make by-laws

             (d)  respecting the duties and conduct of the directors and of the officers and employees of the board;
             (i)   generally, for the conduct and management of the affairs of the corporation.


Energy Corporation Act

      10. The board may make by-laws
          
             (d)  respecting the duties and conduct of the directors and of the officers and employees of the corporation;
              (i)  generally, for the conduct and management of the affairs of the corporation.

Please advise if the Board has made bylaws for both the Energy Corporation and the Hydro Corporation respecting subsections 10(d) and (i) of the respective acts.

If these bylaws exist please advise where I may see them.

If they do not please confirm and advise if the general statements found in the annual reports – under corporate governance – act as the sole guidance and literature to define the responsibilities of the Board of Directors. If not what other information exists regarding this matter?