The limits of Vaulian Democracy

[Imperator Azenquor]

[b][u]BCNA News: Prime Minister launches privatization campaign [/b][/u]

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-Prime Minister Potusek: [i]"State owned enterprises inefficient"[/i]

[i] “Prime Minister Potusek faces her first major political challenge today as she seeks to begin her campaign to privatize several entities controlled by the state. The Prime Minister has revealed that in order to offset the dramatic spending increases brought about by the economic crisis and the civil war, it is necessary to begin the privatization campaign urgently. The state, the Prime Minister said, had no business running the energy or telecommunications sectors.

In her address to the Parliament, Prime Minister Potusek put forward a resolution to allow the government to privatize the energy, telecommunications and mining sectors in order to gain much needed revenue. The state entities involved, she said, should be broken up and sold to the private sector. This, the Prime Minister said, should encourage competition between private firms and would break the monopoly held by the state entities in their respective sectors.

The first three state-owned companies on the chopping block if the legislation is approved will be the East Asia Co (Oil Division), Telecom Vaulia and Associated Minerals Inc (AMI). Unofficial figures suggest that these entities combined are worth approximately B$210 billion. There has been no official comment from any of the state entities which are to be privatized, however the Union of Mine Workers (UMW) released a statement in which they called the move ‘extremely dangerous’ and vowed to strike if ‘the hard-earned rights of our workers are not respected’.

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-Bryon Svatek: [i]“She’d sell the Parliament building if she thought she could get away with it”[/i]

In Parliament, Adam Kerbev, leader of United Vaulia, blasted the privatization proposal as an ‘unnecessary attack on the working class of the nation’ and demanded that the Prime Minister abandon the privatization drive. Kerbev outlined how the government could cover the entire budget shortfall by reducing military and non essential government expenditures over a two year period. The United Vaulia leader went on to say that the necessary foundations to protect the rights of state workers in the private sector were not sufficient. Mr. Kerbev’s sentiments were echoed by Bryon Svatek of the Party for Social Justice. The Christian Democrats and the New Nationalist Front expressed cautious support for the Prime Minister’s proposal and dismissed the objections of the ‘Left’ as their ‘desire to maintain the status quo that they themselves are responsible for’.

Many believe that this legislation, which is one of the fundamental principles of the Liberal Democratic Party will be a huge challenge for Prime Minister Potusek. If she succeeds it will pave the way for her party to begin a rapid reform of the economy. However if she is unable to gather the necessary votes for this controversial legislation it could damage her government just prior to the introduction of the new budget. With a minority government, Prime Minister Potusek needs the support of at least one of the other major political parties in order to move the legislation through the Parliament.

Parliamentary debate on the privatization bill will continue for another day, after which it will be put to a vote.”[/i]-Reporter

[Imperator Azenquor]

[b][u]BCNA News: Privatization bill narrowly approved[/b][/u]

[i]“After another tense session in Parliament in which Prime Minister Potusek made an impassioned defense of her privatization proposal, the Parliament voted narrowly to approve the proposal. Before the vote, United Vaulia leader Adam Kerbev insisted that the Prime Minister was about to make a huge mistake. He urged every Member of Parliament to [b]‘remember that they would be held accountable for their vote by the people of the country’[/b]. As the debate drew to a close, the Liberal Democratic Party called for a final vote on the bill. With the support of the Patriotic Right Forces and a smaller than expected number of MPs from the New Nationalist Front, the privatization bill was approved by the Parliament.

With this narrow approval, the Prime Minister can now undertake the first steps of the most radical economic reform that Vaule has ever seen. Some political analysts remain doubtful that the government will be able to see the entire reform process through, especially since Prime Minister Potusek does not have an absolute majority in the Parliament. With this narrow but significant victory the government appears to have a stronger negotiating position regarding the national budget. On the other side of the equation, the New Nationalist Front is now in damage control mode as party leader Vladimir Prevalšek seeks to determine what caused the split in the party's vote. It is also believed that the New Nationalist Front may be in negotiations with the governing Liberal Democratic Party regarding a potential coalition government.

Next on the legislative agenda, the government of Prime Minister Potusek will table the legislation to create the nation's first civilian police force. The current draft of the bill was delayed as the Prime Minister sought greater consensus on the issue before introducing it to the Parliament."[/i]-Reporter

===

[quote][b][u]Resolution #3: Privatization of state owned businesses [/b][/u]

The government of the Serene Republic of Vaule shall undertake the privatization of all state owned entities and corporations. Government shares in these entities shall be auctioned off at their current market value.

To facilitate this privatization, the Ministry of Finance shall commission an audit of all state owned entities and shall manage the privatization process.

[b]Yes: 328 (50.3%)[/b]
No: 225 (34.6%)
Abstain: 98 (15.1%)

[u]Party vote:[/u]
[b]Yes: Liberal Democrats, Patriotic Right Forces, Nationalists (35)[/b]
No: United Vaulia, Party for Social Justice, Nationalists (62)
Abstain: Christian Democrats, Slavic Unity [/quote]

[Imperator Azenquor]

[b][u]BCNA: Mine workers strike over privatization law as implementation begins[/b][/u]

[i]“Moments ago the Union of Mine Workers (UMW) voted to strike in protest of the approval of the privatization law by the Parliament. The new law, the Union said, would mandate the closure of several mines and had no provisions to protect their workers after the privatization process is complete. Representatives of the union have sought a meeting with Prime Minister Potusek, but she rejected such a meeting. The union has urged the government to halt the privatization of the mining industry immediately or the strikes will continue. In other news, the larger Union of State Employees (USE) is meeting with its members to decide upon a course of action in response to the privatization law. At this stage it is widely believed that USE members will join their UMW counterparts.

With the new law approved, the Ministry of Finance has completed its valuation of all state entities and has announced the first auction of government shares so far. According to the Finance Ministry, shares in Telecom Vaulia and Associated Minerals Inc (AMI) will be up for auction beginning at midnight tonight. This auction will also be open to interested investors outside of the Serene Republic provided that they submit an application to the Ministry of Finance of the Serene Republic.”[/i]-Reporter


[quote] [b][u]Auction #1 Information[/b][/u]

[b]Telecom Vaulia (Value: B$72,967/share)[/b]: 60,000 shares up for auction (60% of company)
[b]Associated Minerals Inc (Value: B$162,967/share) [/b]: 55,000 shares up for auction (55% of company)

[/quote]
OOC: Share prices fixed

Edited January 6, 2011 by Imperator Azenquor

[king of cochin]

Kohinoor Rare Earths Limited, a Navaratna company of Cochin, would like to purchase the offered shares of Associated Minerals Inc. B$ 9 Billion ready for transfer.

Edited January 6, 2011 by king of cochin

[Centurius]

Hellenic World Services having a vested interest on expanding its markets into Asia would like to purchase 40,000 shares in Telecom Vaulia.

B$2,918,680,000 is available for transfer now.

Edited January 6, 2011 by Centurius

[Lynneth]

[quote]Telecom Vaulia (Value: B$72,967/share): 60,000 shares up for auction (60% of company)[/quote]

With the shares of a telecommunications company open - rather cheaply, even - Xanatos Enterprises would once more attempt to expand its market. The last time, it had done so in the Midwest Republic, gaining a considerable foothold especially in the rural and a number of suburban regions.
This time, it would be attempted to buy into Telecom Vaulia and gain at least 51% of the shares for a majority, and thus control of the company.

Of course, as a completely foreign corp, XE would need to gain the people's trust; But its CEO, David Xanatos, was confident that this could be done. The corporation was Sri Lanka's foremost internet, telephone and television provider; Why shouldn't it be able to do the same in Vaule?

Edited January 6, 2011 by Lynneth

[Sir Keshav IV]

Monaco Telecom is interested in purchasing 10,000 shares of [color=#5D5D5D][font=tahoma, arial, verdana, sans-serif]Telecom Vaulia[/font][/color]. We are ready to transfer the money immediately.

Edited January 6, 2011 by Sir Keshav IV

[Imperator Azenquor]

[b]Notice:[/b] Results of first round of privatization auction will be announced shortly. Each bid is being evaluated by the Finance Ministry to ensure eligibility.

[quote] [b][u]Privatization Auction #2[/b][/u]
[b]
East Asia Co Oil Division [Value: B$970k/share]:[/b] 49,000 shares (49% of company)
[b]Vaule Power Systems [Value: B$100k/share]:[/b] 70,000 shares (70% of company)
[b]Vaulian Aeronautical Engineering Corp [Value: B$40k/share]:[/b] 60,000 shares (60% of company)
[b]National Construction Inc [Value: B$10k/share]:[/b] 51,000 shares (51% of company)

[/quote]

OOC: I'll just announce all of the results at once, rather than in several different posts

[VigilantWatcher]

Buryatia Oil is willing to purchase East Asia Co Oil Division's 49,000 shares. We are willing to pay B$47,530,000,000 and is ready to send the payment immediately. We hope as being a local company this bid will be recieved warmly.

Edited January 6, 2011 by Curristan

[Centurius]

The Public Power Corporation would like to buy 51,000 shares in Vaule Power Systems at B$1000 over the current market value.

Should our bid pass the PPC will ensure that there will be no loss of jobs and that employees will enjoy the same level of welfare like they have before and at some levels perhaps even better.

Edited January 6, 2011 by Centurius

[king of cochin]

Mahindra Aviation Pvt Ltd seeks to purchase 60,000 shares (60% of company) of the Vaulian Aeronautical Engineering Corp [Value: B$40k/share]. Mahindra is interested in revitalizing its aviation wing with this acquisition and assures long term plans including extra recruitment for expected expansions.

Larsen and Toubro Ltd seeks to purchase 51,000 shares (51% of company) of National Construction Inc [Value: B$10k/share]. L&T seeks to streamline operations of National Construction and hopes to make its prime agent for works in Northern Asia.

[Sir Keshav IV]

Principality Power Systems are looking to buy 19,000 shares of [color=#5D5D5D][font=tahoma, arial, verdana, sans-serif]Vaule Power Systems[b] [/b]at 100k a share. If PPS gains 19% stake in the company it will work along side the PPC to ensure a brighter future for the company. [/font][/color]
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[AironthFlamewing]

JAS Construction of the United Kingdom of Idaho-Montana wishes to counter bid for the rights to National Construction Inc. The offer stands at 15k a share.

Edited January 7, 2011 by graniteknight

[Lavo]

Rebel Army Aerospace Industries, in an effort to expand it's global market share, offers to buy all shares of Vaulian Aeronautical Engineering Corp on the market, at B$42k/share, B$2000 over the market price. In addition, RAAI notes that it will not outsource any Vaulian jobs, and will invest in upgrading and furthering VAEC's native industry and capabilities. With their expertise, funds, and abilities, the leadership was certain this could be the boost they needed to get a greater stake in the European and Asian market.

Rebel Energy Consortium, Ltd. has put in a bid to buy 10000 shares of Value Power Systems, at B$100k/share.

[Triyun]

The United Federation of the East wishes to purchase the available shares of East Asia Oil Co, and is willing to offer a 5% increase on the bid of Burytia Oil for a 49% interest in the company, the UFE is also willing to provide primary financing on building pipelines from the oil fields of Siberia to the more populated regions of East Asia.

Further if open bidding is still available on the minerals company bidding, we would like to bid for half the available shares at a 10% above market price bid.

Edited January 6, 2011 by Triyun

[Imperator Azenquor]

[i]"We are pleased to announce the following results. Our independent analysts have decided to shortlist the following bids. Several factors were considered by our non-governmental agencies. The Ministry of Finance will conduct a final analysis of the shortlisted bids after which the final bids will be accepted."[/i]

[quote]
Telecom Vaulia (Value: B$72,967/share): Hellenic World Services & Monaco Telecom
Associated Minerals Inc (Value: B$162,967/share): Kohinoor Rare Earths Limited
East Asia Co Oil Division [Value: B$970k/share]: United Federation of the East
Vaule Power Systems [Value: B$100k/share]: Principality Power Systems & Public Power Corporation
Vaulian Aeronautical Engineering Corp [Value: B$40k/share]: Rebel Army Aerospace Industries
National Construction Inc [Value: B$10k/share]:JAS Construction
[/quote]

[king of cochin]

"Kohinoor is glad to have acquired Associated Minerals Inc in the Serene Republic of Vaule. KREL would conduct a thorough audit of the company's ledgers and operations before charting out the plan for further improvements and profitability," Kohinoor spokesperson would reply after securing the bid for the company.

[AironthFlamewing]

Severus Potter, Chief Operating Officer of JAS Construction is quite pleased with the acquisition of National Construction Inc. He plans to fly out to company headquarters in order to reshuffle the management team that exists in NCI.

[Imperator Azenquor]

[i]"We are pleased to announce that all of the short listed bids have been accepted by the government of the Serene Republic. Once the transfer of the appropriate sum of money has taken place, the shares will be turned over to the respective companies along with a detailed instruction manual explaining corporate taxes. The government of the Serene Republic, via the Ministry of Finance, will provide any additional information upon request."[/i]-Foreign Minister

===
[u][b]Telecom Vaulia:[/b][/u]
Hellenic World Services: 40,000 shares @ B$2,918,680,000
Monaco Telecom: 10,000 @ B$729,670,000

[u][b]Associated Minerals Inc:[/b][/u]
Kohinoor Rare Earths Limited: 55,000 @ B$9,000,000,000

[u][b]East Asia Co. Oil Division:[/b][/u]
United Federation of the East: 49,000 @ B$47,530,000,000

[u][b]Vaule Power Systems:[/b][/u]
Principality Power Systems: 19,000 @ B$1,900,000,000
Public Power Corporation: 51,000 @ B$5,151,000,000

[u][b]Vaulian Aeronautical Engineering Corp:[/b][/u]
Rebel Army Aerospace Industries: 60,000 @ B$2,520,000,000

[u][b]National Construction Inc:[/b][/u]
JAS Construction: 51,000 @ B$765,000,000
===

[quote][b]Basic Tax code information[/b]

Corporate tax on all profits: 8%*
Personal Income tax: 18%
Property Taxes: 10% of value of property
Workers' Tax: 1.3% of worker income

*8% rate applies to non-energy companies, energy companies taxed at 16%
[/quote]

[AironthFlamewing]

The money has been wired-

Sir Franklyn C. Chadwick
Head Councillor of the Treasury, UKIM.

Edited January 7, 2011 by graniteknight

[Triyun]

The money shall be wired immediately from the China National Development Bank, Sinopec, and the Bank of China. The UFE formally requests a meeting for discussions about a guest worker program to help build oil and natural gas lines.

[Imperator Azenquor]

[quote name='Triyun' timestamp='1294372557' post='2566758']
The money shall be wired immediately from the China National Development Bank, Sinopec, and the Bank of China. The UFE formally requests a meeting for discussions about a guest worker program to help build oil and natural gas lines.
[/quote]

[i]"A guest worker program would be permissible, however such a program would not be allowed to import workers to do jobs that could be done by Vaulian citizens. Given the large number of trained personnel working with the East Asia Co's oil division as it is, we find it unlikely that there would be a need for many more workers. Nonetheless we are willing to undertake such discussions with this in mind."[/i]-Minister of Foreign Affairs

[Centurius]

Both Athenian corporations would be quick to transfer the payments to the appropiate accounts.

Like promised the corporations weren't going to push for major changes but rather preserve most of the established methods.

[king of cochin]

The money has been transferred to Vaule.

"KREL requests a training emigration program so that Vaulean employees currently employed could be sent to specialized training institutions outside Vaule as also for retraining at other KREL establishments prior to restationing in Vaule. In the interim KREL also seeks temporary employment visas for Cochin personnel to replace Vaulean personnel who would be leaving for the training program. The Vaulean employees leaving for training programs would not suffer any loss of pay during the time of their training."

[Sir Keshav IV]

PPS and Monaco Telecom have transferred all the money.

We are happy to be a part of these new companies