The Bahama Journal Editorial
Today by way of this commentary, we wish to put in clearer perspective what we perceive as the political import of what seems to be an increased degree of restiveness on the part of so very many public sector workers.
On occasion, their main gripe seems to concern money. At other times, workers and their representatives seem to be preoccupied with matters germane to respect.
But no matter the reason or the season, the fact remains that, politicians always pay some kind of price whenever public sector workers become roiled and riled to that point where they say that, they are sick and tired of things as they are.
This is so because, unlike their counter-parts in the private sector, ministers cannot ignore the fact that when they step forward to bargain with workers, there is always some political element somewhere in the details.
That is why it is always so very instructive to understand the import of some of history's lessons.
We make this reference to the importance of history as we reflect on what is currently taking place on the industrial scene.
In a sense, what we are currently witness is a kind of macabre footnote to some of the demonstrations that took place in the late 90’s as the then governing Free National Movement faced the ire of a powerful cadre of workers.
It is to be noted that, today’s emerging labor situation seems eerily reminiscent of the situation and circumstances that existed in 1999, when the Free National Movement and its leadership found themselves challenged and openly disrespected by angry workers.
And so, with general elections on the horizon, it is anybody’s guess as to how things will pan out for either the governing Free National Movement or its political nemeses in the guise of the Progressive Liberal Party.
And for sure, even as we focus on the two major parties, we are acutely aware of the fact that, there are other forces – some of them allegedly and reputedly with deep pockets – who might yet have a decisively important impact on how things turn out.
In addition, there are other forces that seem poised to have some effect on the outcome of those contests whenever they take place. Here we reference, the role that might yet be played by workers in their guise as voters; and [yet again] as we have previously suggested, we have a background context where, for want of a more comprehensive understanding of what national development should be about; the Bahamian people and their leaders now wallow in a mire of despond.
And as they wallow, we have a situation on the ground where the hard men and women with guns in hand and murder in their hearts, are doing their thing.
We also know it for a fact that, history itself teaches that, workers can seat or unseat those in power.
Here we are quite certain that the power in this truism is not lost on either the governing Progressive Liberal Party or on its nemeses on the opposition side of the political street in The Bahamas.
As such, it should come as no surprise to any one that Bahamian workers are restive at this precise moment. This is surely due -in part at least- to the fact that workers are voters.
Evidently, too, with Christmas on its way; with a national economy that is in a parlous state; with utility bills as high as ever and with money as scarce as hen’s teeth; some of this nation’s workers are today as mad as hell.
Evidently, there is no telling how things will turn out for those who are governing and for those men and women who wish to take hold of the reins of power.
While general elections are still some ways off, the fact remains that workers know that – when the chips are down- they have a tremendous amount of power at their command.
Here we would advise all who would hear and all who would know that, they had better listen to the voice of the worker.
And while, we advise that those who lead and those who would lead should listen to the cries of the people; this is not to say that we are demanding anyone to yield to this or that insistent demand.
At the minimum, therefore, those who would take one position as opposed to another should explain themselves to the people.
Once this tack is taken, they can then let the chips fall where they may.
In the ultimate analysis, then, what makes this situation so very important is the fact that workers are voters. This means that whenever they wish, they can bring a government to grief and despair.
December 9th. 2010
The Bahama Journal Editorial
A political blog about Bahamian politics in The Bahamas, Bahamian Politicans - and the entire Bahamas political lot. Bahamian Blogger Dennis Dames keeps you updated on the political news and views throughout the islands of The Bahamas without fear or favor. Bahamian Politicians and the Bahamian Political Arena: Updates one Post at a time on Bahamas Politics and Bahamas Politicans; and their local, regional and international policies and perspectives.
Thursday, December 9, 2010
...the Free National Movement (FNM) must be careful that it does not make a rudderless and reactionary opposition Progressive Liberal Party seem attractive to voters based on its decisions
Angering electorate at election time
thenassauguardian editorial
We were surprised at a notice in the newspapers on Tuesday. The government has decided to inform the public that police, beginning on Monday, will strictly enforce the seatbelt laws enacted in March 2002.
We support the enforcement of the seatbelt laws. The laws protect drivers and passengers. They also help reduce health care costs by preventing more serious injuries.
However, the government must understand the culture it is a part of. Bahamians are not accustomed to wearing seatbelts in The Bahamas. Consequently, a more reasonable notice period is needed in order for motorists to become aware and more comfortable with the change in enforcement policy.
That notice period could have been a month to two months, including a robust public relations campaign focused on ensuring the seatbelt message is widely disseminated throughout the country.
If on Monday police start handing out $300 fines to motorists for not wearing seatbelts, the electorate will not be pleased.
Even if a member of the government mentioned that this would happen in some obscure speech, few Bahamians thus far are aware that this significant change is to take place.
The Bahamas Telecommunications Company (BTC) sale is also leading to growing unease in the country.
The government is about to sell 51 percent of BTC to the British firm Cable and Wireless Communications.
This paper has gone on record stating that Bahamian assets should be sold to Bahamians – this includes joint ventures between Bahamians and strategic partners.
Having a Bahamian owner, or a joint venture ownership structure between Bahamians and a strategic partner, would ensure more profits from the company stay in the country. Those profits that stay here would help create more jobs and prosperity in The Bahamas.
Both unions that represent workers at BTC have said they support Bahamians being owners of a privatized BTC.
Christian Council President Rev. Patrick Paul made comments yesterday that should concern the government.
“And so we stand with you this morning in agreement that (BTC) should belong to the Bahamians,” said Paul to those assembled during the union protest at BTC.
Paul assured the hundreds of BTC workers that the Christian church in The Bahamas supports their cause – that is, standing in opposition to the BTC sale to foreigners.
Earlier this year, the Free National Movement administration considered legalizing gambling for Bahamians and legal residents. The opposition, led by the church, stopped the government from making the bold move. That same church movement the government backed down from is now standing in opposition to the BTC sale.
Governing parties must pursue policies considered right for the country. They have an electoral mandate to do so. This authority, however, must be exercised in conjunction with the current moods and sentiments of the people.
When a political party pursues a policy it thinks is right, but that policy angers the people, this decision by the party usually leads it to opposition.
For its sake, the FNM must be careful that it does not make a rudderless and reactionary opposition Progressive Liberal Party seem attractive to voters based on its decisions.
12/8/2010
thenassauguardian editorial
thenassauguardian editorial
We were surprised at a notice in the newspapers on Tuesday. The government has decided to inform the public that police, beginning on Monday, will strictly enforce the seatbelt laws enacted in March 2002.
We support the enforcement of the seatbelt laws. The laws protect drivers and passengers. They also help reduce health care costs by preventing more serious injuries.
However, the government must understand the culture it is a part of. Bahamians are not accustomed to wearing seatbelts in The Bahamas. Consequently, a more reasonable notice period is needed in order for motorists to become aware and more comfortable with the change in enforcement policy.
That notice period could have been a month to two months, including a robust public relations campaign focused on ensuring the seatbelt message is widely disseminated throughout the country.
If on Monday police start handing out $300 fines to motorists for not wearing seatbelts, the electorate will not be pleased.
Even if a member of the government mentioned that this would happen in some obscure speech, few Bahamians thus far are aware that this significant change is to take place.
The Bahamas Telecommunications Company (BTC) sale is also leading to growing unease in the country.
The government is about to sell 51 percent of BTC to the British firm Cable and Wireless Communications.
This paper has gone on record stating that Bahamian assets should be sold to Bahamians – this includes joint ventures between Bahamians and strategic partners.
Having a Bahamian owner, or a joint venture ownership structure between Bahamians and a strategic partner, would ensure more profits from the company stay in the country. Those profits that stay here would help create more jobs and prosperity in The Bahamas.
Both unions that represent workers at BTC have said they support Bahamians being owners of a privatized BTC.
Christian Council President Rev. Patrick Paul made comments yesterday that should concern the government.
“And so we stand with you this morning in agreement that (BTC) should belong to the Bahamians,” said Paul to those assembled during the union protest at BTC.
Paul assured the hundreds of BTC workers that the Christian church in The Bahamas supports their cause – that is, standing in opposition to the BTC sale to foreigners.
Earlier this year, the Free National Movement administration considered legalizing gambling for Bahamians and legal residents. The opposition, led by the church, stopped the government from making the bold move. That same church movement the government backed down from is now standing in opposition to the BTC sale.
Governing parties must pursue policies considered right for the country. They have an electoral mandate to do so. This authority, however, must be exercised in conjunction with the current moods and sentiments of the people.
When a political party pursues a policy it thinks is right, but that policy angers the people, this decision by the party usually leads it to opposition.
For its sake, the FNM must be careful that it does not make a rudderless and reactionary opposition Progressive Liberal Party seem attractive to voters based on its decisions.
12/8/2010
thenassauguardian editorial
Wednesday, December 8, 2010
In Opposition to the BTC Deal
The Bahama Journal Editorial
That we live in perilous times is no longer a matter that incurs debate; it is simply taken as a given that, these are surely times when practically everything that was once stable seems hell-bent on being ripped from its moorings.
In this we would surely include certain givens as they related to how the Bahamas could and should orient itself to the region and to the world market.
In this regard, we would place all of what we once took for granted as it pertains to the supremacy and desirability of relying on foreign direct investment; and here sometimes to the exclusion of Bahamian investment.
For a fairly long season, this idea worked its magic; and here it had the salutary result of creating a fairly self-confident middle class [albeit one that lived heavily off borrowed money]. But as some of our people would attest and confirm, for a fairly long while, it sure did seem as if this kind of scenario would persist for a while longer.
And then, there was that other emerging trend where and when there arose such a high respect for the magic that was said to be inherent in market forces. As a consequence, very many governments around the world soon came to find themselves dragooned into becoming true believers in the new mantra.
This slew of new and true believers in the so-called magic of the market place included some of our leaders and their myriad of followers.
Indeed, such was the magnetic force of the new idea that some who should have known better were soon enough found to be dancing and sometimes even prancing to the same tune.
As we recall, this was the context wherein there emerged that consensus behind ideas to privatize this or that public owned entity.
Early on the Bahamas Telecommunications Corporation was identified for the privatization experience and treatment.
While the times have obviously changed and while practically no-one with an iota of sense continues that blather about the so-called magic inherent in so-called market-forces, BTC is set to be divested of majority control on the Bahamian side; with that control going to Cable and Wireless.
And yet again, we are learning that, there is currently a Memorandum of Understanding [MOU] that the government signed with the regional communications giant (which is known as LIME throughout the Caribbean) provides for the sale of a 51 percent stake in BTC for $210 million.
We are also told that an additional $21 million will be collected by the government from the 10 percent stamp tax associated with the sale.
Note also that the said MOU also provides that the government will leave $15 million of BTC's cash in the bank to provide operating capital for LIME.
As reported, BTC had just under $66 million in cash at the end of September, according to financial records obtained by our Journal.
Evidently, this implies that if the sale is concluded in the next several months and BTC's cash reserves are significantly impacted, at least $51 million of that cash would go to the public treasury.
At this juncture, then, the word we get is to the effect that, if BTC maintains the cash it now has until the targeted sale date of February 15, 2011, the money generated by the sale of BTC would amount to more than $282 million.
While this is good as far as it goes, we are loath to support this move.
In this regard, [and as everyone would know], the potential buyer is Cable and Wireless.
In addition, we are now being told that, the proposed sale of the Bahamas Telecommunications Company (BTC) to Cable and Wireless Communications (CWC) could net the government nearly $300 million by the time the deal is done.
While this is apparently a done deal, we are adamant in our conclusion that, more effort should have been put into seeing to it that this entity stayed in Bahamian hands.
This is our view not only because of our enduring concern for the well-being of our country and its people; but because we are absolutely convinced [as in the case of Cable Bahamas] BTC could and should be owned by Bahamians.
And clearly, we continue to be impressed by arguments that tell us that, there are some utilities such as those relating to water, electricity and communications that should – in the interests of national security- remain in the hands of Bahamian nationals.
Furthermore, we are absolutely convinced that, there remains a crying need for the Bahamian economy to stand –as it were - on two feet; with one firmly planted in the Bahamas by Bahamians and with the other just as firmly planted by foreigners.
Such a move would put this country of ours on a much firmer footing.
And for sure, this is precisely why –in principle- still opposed to this proposed link-up by BTC with Cable and Wireless.
December 8th, 2010
The Bahama Journal Editorial
That we live in perilous times is no longer a matter that incurs debate; it is simply taken as a given that, these are surely times when practically everything that was once stable seems hell-bent on being ripped from its moorings.
In this we would surely include certain givens as they related to how the Bahamas could and should orient itself to the region and to the world market.
In this regard, we would place all of what we once took for granted as it pertains to the supremacy and desirability of relying on foreign direct investment; and here sometimes to the exclusion of Bahamian investment.
For a fairly long season, this idea worked its magic; and here it had the salutary result of creating a fairly self-confident middle class [albeit one that lived heavily off borrowed money]. But as some of our people would attest and confirm, for a fairly long while, it sure did seem as if this kind of scenario would persist for a while longer.
And then, there was that other emerging trend where and when there arose such a high respect for the magic that was said to be inherent in market forces. As a consequence, very many governments around the world soon came to find themselves dragooned into becoming true believers in the new mantra.
This slew of new and true believers in the so-called magic of the market place included some of our leaders and their myriad of followers.
Indeed, such was the magnetic force of the new idea that some who should have known better were soon enough found to be dancing and sometimes even prancing to the same tune.
As we recall, this was the context wherein there emerged that consensus behind ideas to privatize this or that public owned entity.
Early on the Bahamas Telecommunications Corporation was identified for the privatization experience and treatment.
While the times have obviously changed and while practically no-one with an iota of sense continues that blather about the so-called magic inherent in so-called market-forces, BTC is set to be divested of majority control on the Bahamian side; with that control going to Cable and Wireless.
And yet again, we are learning that, there is currently a Memorandum of Understanding [MOU] that the government signed with the regional communications giant (which is known as LIME throughout the Caribbean) provides for the sale of a 51 percent stake in BTC for $210 million.
We are also told that an additional $21 million will be collected by the government from the 10 percent stamp tax associated with the sale.
Note also that the said MOU also provides that the government will leave $15 million of BTC's cash in the bank to provide operating capital for LIME.
As reported, BTC had just under $66 million in cash at the end of September, according to financial records obtained by our Journal.
Evidently, this implies that if the sale is concluded in the next several months and BTC's cash reserves are significantly impacted, at least $51 million of that cash would go to the public treasury.
At this juncture, then, the word we get is to the effect that, if BTC maintains the cash it now has until the targeted sale date of February 15, 2011, the money generated by the sale of BTC would amount to more than $282 million.
While this is good as far as it goes, we are loath to support this move.
In this regard, [and as everyone would know], the potential buyer is Cable and Wireless.
In addition, we are now being told that, the proposed sale of the Bahamas Telecommunications Company (BTC) to Cable and Wireless Communications (CWC) could net the government nearly $300 million by the time the deal is done.
While this is apparently a done deal, we are adamant in our conclusion that, more effort should have been put into seeing to it that this entity stayed in Bahamian hands.
This is our view not only because of our enduring concern for the well-being of our country and its people; but because we are absolutely convinced [as in the case of Cable Bahamas] BTC could and should be owned by Bahamians.
And clearly, we continue to be impressed by arguments that tell us that, there are some utilities such as those relating to water, electricity and communications that should – in the interests of national security- remain in the hands of Bahamian nationals.
Furthermore, we are absolutely convinced that, there remains a crying need for the Bahamian economy to stand –as it were - on two feet; with one firmly planted in the Bahamas by Bahamians and with the other just as firmly planted by foreigners.
Such a move would put this country of ours on a much firmer footing.
And for sure, this is precisely why –in principle- still opposed to this proposed link-up by BTC with Cable and Wireless.
December 8th, 2010
The Bahama Journal Editorial
Unions object to the sale of the Bahamas Telecommunications Company Limited (BTC) to Cable and Wireless Communications (CWC)
Unions' distaste with proposed BTC sale grows
By CHESTER ROBARDS
Guardian Staff Reporter
chester@nasguard.com
The government’s decision to sign a Memorandum of Understanding (MOU) with Cable and Wireless Communications (CWC) for the sale of a majority share of the Bahamas Telecommunications Company (BTC) continues to be met with strong reaction from some union leaders.
The Nassau Guardian understands that the unions representing workers at BTC may be contemplating action intended to voice a stronger objection to the move.
Representatives from the Bahamas Communications and Public Officers Unions (BCPOU) and the Bahamas Communications and Public Managers Union (BCPMU) are also attempting to build support outside the trade union movement.
Union leaders met with members of the Progressive Liberal Party (PLP) Sunday night to officially offer their disapproval of the sale of BTC to CWC.
Member of Parliament for West End and Bimini Obie Wilchcombe, who is leader of opposition business in the House of Assembly, confirmed that he and his colleagues met with members of the union and listened to their concerns.
He said the PLP is waiting to look over the MOU signed between the government and CWC before it offers an official position on the deal.
“We are looking at their issues and are hoping to get a sight of the Memorandum of Understanding,” said Wilchcombe.
BCPMU President William Carroll suggested that the unions would go around to every major civic organization in the country to garner support for their campaign against the sale of BTC to CWC.
The unions’ opposition to the sale to CWC has not changed since months before the MOU was signed.
The unions’ primary concern over the deal is job security for BTC workers.
Prime Minister Hubert Ingraham revealed during a press conference not long before the MOU was signed that CWC had asked for a 30 percent decrease in the staff complement at BTC.
However, Ingraham said the government would only support a deal with voluntary separation packages.
A press release on the MOU signing revealed that the government and CWC agreed to the voluntary packages.
“There will be a restructuring of the workforce of BTC following completion of the transaction, which will be carried out on an entirely voluntary basis,” the release said. “A detailed plan is in the process of being developed.”
BCPOU President Bernard Evans contended many of the individuals who would receive packages are at an age where they may not be able to find gainful employment when their packages dry up.
“We aren’t advocating packages,” said Evans. “With the ages of some of these people, finding meaningful employment is dismal.”
12/7/2010
thenassauguardian
By CHESTER ROBARDS
Guardian Staff Reporter
chester@nasguard.com
The government’s decision to sign a Memorandum of Understanding (MOU) with Cable and Wireless Communications (CWC) for the sale of a majority share of the Bahamas Telecommunications Company (BTC) continues to be met with strong reaction from some union leaders.
The Nassau Guardian understands that the unions representing workers at BTC may be contemplating action intended to voice a stronger objection to the move.
Representatives from the Bahamas Communications and Public Officers Unions (BCPOU) and the Bahamas Communications and Public Managers Union (BCPMU) are also attempting to build support outside the trade union movement.
Union leaders met with members of the Progressive Liberal Party (PLP) Sunday night to officially offer their disapproval of the sale of BTC to CWC.
Member of Parliament for West End and Bimini Obie Wilchcombe, who is leader of opposition business in the House of Assembly, confirmed that he and his colleagues met with members of the union and listened to their concerns.
He said the PLP is waiting to look over the MOU signed between the government and CWC before it offers an official position on the deal.
“We are looking at their issues and are hoping to get a sight of the Memorandum of Understanding,” said Wilchcombe.
BCPMU President William Carroll suggested that the unions would go around to every major civic organization in the country to garner support for their campaign against the sale of BTC to CWC.
The unions’ opposition to the sale to CWC has not changed since months before the MOU was signed.
The unions’ primary concern over the deal is job security for BTC workers.
Prime Minister Hubert Ingraham revealed during a press conference not long before the MOU was signed that CWC had asked for a 30 percent decrease in the staff complement at BTC.
However, Ingraham said the government would only support a deal with voluntary separation packages.
A press release on the MOU signing revealed that the government and CWC agreed to the voluntary packages.
“There will be a restructuring of the workforce of BTC following completion of the transaction, which will be carried out on an entirely voluntary basis,” the release said. “A detailed plan is in the process of being developed.”
BCPOU President Bernard Evans contended many of the individuals who would receive packages are at an age where they may not be able to find gainful employment when their packages dry up.
“We aren’t advocating packages,” said Evans. “With the ages of some of these people, finding meaningful employment is dismal.”
12/7/2010
thenassauguardian
Tuesday, December 7, 2010
Shopping at Home Matters
The Bahama Journal Editorial
We wish we could – at the evocation of the word – get Bahamians to shop at home. From at least one perspective, shopping at home might and could be equated and totted up as if it was akin to a genuine civic virtue.
While we here at JCN are obliged to comment on what is happening in the economy; we too are obliged to note that, there are things we – as Bahamians – can and should do in order to keep this country’s economy afloat.
Each Bahamian and each resident can and should do their utmost to shop at home; remembering as they do that a dollar spent at home by each and every one of them translates into jobs retained or new jobs created.
Things –as they say – are still tight in the United States as that great nation struggles to get up from the direst of ravages caused by what some pundits have described as the Great Recession.
One indicator of just how tight things are can be gleaned from statistics showing that, tens of millions of Americans who are out of work will remain so for at least the next five years.
But for sure, the greatest indicator of all are those statistics that suggest that a Bahamian economy that is tethered to do that of the United States is in need of some new boost.
Here we can and will cite, some of what Mr. Khaalis Rolle has had to say on the matter at hand; this with many Bahamian companies in the private sector "on the brink" of failure, and many others holding on in the hope of a Christmas boost.
With sales down as regards consumer demand in some instances between 20-30 percent; Rolle asks rhetorically and plaintively: "From a sales standpoint, if you take 30 per cent of gross revenues away, this 20-30 per cent from off the top line, and calculate the average net return of around 12-15 per cent, it's extremely difficult to see where companies can remain profitable.
And for sure, here debt servicing becomes a very difficult proposition; it becomes very difficult to service debt.
In addition and as we understand some of what he had to say, the record suggests that, [Mr. Rolle - without mentioning the $2.6 billion Baha Mar project by name] again questioned whether MPs and policymakers "fully understand" the urgent need for a "catalyst" to revive the economy.
Here we go a step further, and note that, things are bad and now we hear say that they may go from bad to worse.
In this regard, it is quite interesting to note and take to heart some of what Rolle as president of the Chamber of Commerce suggests as he indicates that, “The consumer demand slump has made it "extremely difficult" for most Bahamian companies, whose net returns on investment average 12-15 per cent per annum, to remain profitable…”
We also hear what the Chamber president has to say when he notes that, this nation might be "five years away from beginning to see meaningful economic recovery".
In addition, Rolle describes this recession as "infinitely worse" that the post-September 11, 2001, 'short, sharp shock' to the Bahamian economy…” And yet again, we note that the same Khaalis Rolle recently told one major paper that, “…that using the 36-48 months that it took this nation to completely recover from those events as a benchmark, it seemed that the rebound from current events might take up to five years…]
This is an inordinately long time.
And for sure, with Christmas in the air –as the old saying puts it – Bahamians are doing whatever they can in order to enjoy themselves in the days and weeks ahead.
And as some of them are wont to do, some of the time they have will be spent in sprucing up their homes, buying presents and otherwise, making themselves ready for the arrival [so to speak] of a long-awaited king.
Indeed, such is the largeness of the upcoming season - in terms of what it means not only in the realm of our shared Christian faith; but for the men and women who happen to be businessmen and women.
These business types are the ones who can be expected to hire more labor in festive times like these; and for sure, they can be relied upon to help stimulate allied areas of the economy.
It is this aspect of the matter as it relates to consumer spending and what such expenditure means for the rest of the society.
In short, as money is circulated, it stimulates demand in other areas; with the result that a dollar spent in one area can and does spark results elsewhere in the system.
In the ultimate analysis, then, shopping at home makes good economic and social sense for all Bahamians; that is why today, we encourage it to the maximum degree possible.
December 7th, 2010
The Bahama Journal Editorial
We wish we could – at the evocation of the word – get Bahamians to shop at home. From at least one perspective, shopping at home might and could be equated and totted up as if it was akin to a genuine civic virtue.
While we here at JCN are obliged to comment on what is happening in the economy; we too are obliged to note that, there are things we – as Bahamians – can and should do in order to keep this country’s economy afloat.
Each Bahamian and each resident can and should do their utmost to shop at home; remembering as they do that a dollar spent at home by each and every one of them translates into jobs retained or new jobs created.
Things –as they say – are still tight in the United States as that great nation struggles to get up from the direst of ravages caused by what some pundits have described as the Great Recession.
One indicator of just how tight things are can be gleaned from statistics showing that, tens of millions of Americans who are out of work will remain so for at least the next five years.
But for sure, the greatest indicator of all are those statistics that suggest that a Bahamian economy that is tethered to do that of the United States is in need of some new boost.
Here we can and will cite, some of what Mr. Khaalis Rolle has had to say on the matter at hand; this with many Bahamian companies in the private sector "on the brink" of failure, and many others holding on in the hope of a Christmas boost.
With sales down as regards consumer demand in some instances between 20-30 percent; Rolle asks rhetorically and plaintively: "From a sales standpoint, if you take 30 per cent of gross revenues away, this 20-30 per cent from off the top line, and calculate the average net return of around 12-15 per cent, it's extremely difficult to see where companies can remain profitable.
And for sure, here debt servicing becomes a very difficult proposition; it becomes very difficult to service debt.
In addition and as we understand some of what he had to say, the record suggests that, [Mr. Rolle - without mentioning the $2.6 billion Baha Mar project by name] again questioned whether MPs and policymakers "fully understand" the urgent need for a "catalyst" to revive the economy.
Here we go a step further, and note that, things are bad and now we hear say that they may go from bad to worse.
In this regard, it is quite interesting to note and take to heart some of what Rolle as president of the Chamber of Commerce suggests as he indicates that, “The consumer demand slump has made it "extremely difficult" for most Bahamian companies, whose net returns on investment average 12-15 per cent per annum, to remain profitable…”
We also hear what the Chamber president has to say when he notes that, this nation might be "five years away from beginning to see meaningful economic recovery".
In addition, Rolle describes this recession as "infinitely worse" that the post-September 11, 2001, 'short, sharp shock' to the Bahamian economy…” And yet again, we note that the same Khaalis Rolle recently told one major paper that, “…that using the 36-48 months that it took this nation to completely recover from those events as a benchmark, it seemed that the rebound from current events might take up to five years…]
This is an inordinately long time.
And for sure, with Christmas in the air –as the old saying puts it – Bahamians are doing whatever they can in order to enjoy themselves in the days and weeks ahead.
And as some of them are wont to do, some of the time they have will be spent in sprucing up their homes, buying presents and otherwise, making themselves ready for the arrival [so to speak] of a long-awaited king.
Indeed, such is the largeness of the upcoming season - in terms of what it means not only in the realm of our shared Christian faith; but for the men and women who happen to be businessmen and women.
These business types are the ones who can be expected to hire more labor in festive times like these; and for sure, they can be relied upon to help stimulate allied areas of the economy.
It is this aspect of the matter as it relates to consumer spending and what such expenditure means for the rest of the society.
In short, as money is circulated, it stimulates demand in other areas; with the result that a dollar spent in one area can and does spark results elsewhere in the system.
In the ultimate analysis, then, shopping at home makes good economic and social sense for all Bahamians; that is why today, we encourage it to the maximum degree possible.
December 7th, 2010
The Bahama Journal Editorial
Monday, December 6, 2010
The essential differences between Messrs Hubert Ingraham and Perry Christie revealed
We Have No Choice?
by Simon
The House of Assembly debated a resolution on the Baha Mar deal recently. Unfortunately for the Perry Christie-led PLP, it has already lost the broader national debate on the proposed mega project.
This includes a haemorrhaging of goodwill from the PLP by many professionals and even many within the party who are flabbergasted and frustrated by Mr. Christie’s dissembling and series of incoherent statements on Baha Mar since its inception. Curiously, part of the story concerns – the BlackBerry.
Some weeks ago, Mr. Christie attempted to mock the Prime Minister for regularly checking his BlackBerry at a dinner attended by both leaders. Mr. Ingraham was monitoring any news of a settlement between Baha Mar and Scotiabank on an outstanding loan between the two entities.
The story reveals the essential differences between Messrs. Ingraham and Christie. Hubert Ingraham is a part of the Smartphone generation while his former law partner is a throwback to a bygone era, wedded to a model of economic development that is being assigned to the proverbial ash heap of history.
Mr. Ingraham’s use of the BlackBerry represents a forward-looking, tech-savvy style of leadership marked by a hands-on approach, timeliness and engagement. This is in marked contrast to Mr. Christie’s cavalier, late-again and disengaged style. The device that perhaps best represents his decision-making style is the telegraph, which in today’s world would be slow-moving, clunky and out-of-date.
But, the more defining difference between the men was revealed in one of the more shocking statements ever made by a Bahamian leader on a project as large and as involved as Baha Mar.
WE HAVE NO CHOICE?
On the eve of Mr. Ingraham’s departure for China, the Leader of the Opposition counselled the Prime Minister to take the Baha Mar deal as it was. His reckless advice: We have no choice! We have no choice?
One would have expected this to be the view of officials at Baha Mar, not of a former Prime Minister. Life is filled with choices, even in the most difficult circumstances.
It is clear that Mr. Christie would have headed to China on bended knee, as an agent for Baha Mar, representing narrow special interests rather than the broader Bahamian national interest.
Mr. Christie’s view that the country had no choice but to accept the Baha Mar deal as is, is the clearest insight yet into why he essentially gave away Bahamian treasure and land at Cable Beach which no Bahamian leader from the UBP, PLP or FNM ever did.
It explains the Great Mayaguana Land Give-Away in which beachfront property equivalent of the distance from the eastern end of New Providence to Lyford Cay was alienated to foreign interests.
It reveals why his party’s land policy has been disastrous for The Bahamas and why his talk of Bahamianization is mostly talk. It further demonstrates why Mr. Christie and the PLP are content to sell cheaply our national ambitions and dreams to foreign interests, often to the cheapest bidder, rather than genuinely empower Bahamians.
Thankfully, Mr. Ingraham disregarded Mr. Christie’s monstrously bad advice in his negotiations with the Chinese. He did so because he knows that The Bahamas indeed has a choice, indeed a number of choices, as we slowly recover from a global economic crisis.
HEAD-TO-HEAD
Rather than bended-knee, Mr. Ingraham went head-to-head with Chinese officials. Whereas Mr. Christie felt there was no choice than to accept $200 million dollars worth of contracts for Bahamians, Mr. Ingraham got that number doubled to $400 million. Those contracts will now include work on the Core Project which was not in the original deal.
In his Sunday press conference Mr. Ingraham noted that contracts will be awarded to large, medium, small scale and individual contractors. This is broad economic empowerment in fact, rather than just in talk.
Mr. Ingraham insisted on and got a sizable expansion of training opportunities for Bahamian workers and professionals. This dovetails with his administration’s revamping of the Bahamas Technical and Vocational Institute under revised legislation passed this year. It may also build on the National Retraining initiative launched last year.
The Prime Minister also suggested that there may have been some movement on phasing in the number of rooms at Baha Mar over a designated period of time.
Whatever the final outcome on this matter, it is clear that Mr. Ingraham went to China to negotiate a better deal for the country, as opposed to Mr. Christie who it appears may have gone simply for a signing ceremony and pomp in circumstances that would not have been as advantageous to The Bahamas.
WATERSHED
As noted previously in this column, the Baha Mar deal has been a watershed in terms of the vision and quality of governance demonstrated by Mr. Ingraham and the FNM in stark contrast to that of Mr. Christie and the PLP.
It must be a source of considerable angst for the latter, that the project they initiated has been re-negotiated on better terms and will be launched by an Ingraham-led FNM Government. History eclipses those who are irresolute, procrastinating and dithering when decisiveness is required.
The Bahamas deserves better than political, business or civic leaders telling us that we have no choice in charting our national destiny, despite the rough seas we are facing. This is the talk of those who are dragged along hopelessly by the stream events, rather than tacking and turning to navigate those events to one’s better advantage.
On Baha Mar and other foreign investment projects, Mr. Christie has shown that he is mastered and sidelined by events. Through painstaking negotiations Mr. Ingraham has shown that he knows how to shape events, even when presented with as problematic a deal as the initial one placed on the table by Baha Mar.
Mr. Christie’s declaration that the country had no choice on Baha Mar proved stunningly incorrect. It will prove to be one of the more disastrous pronouncements he has made in his long political career. It is a mistake the Bahamian people will clearly take into account as they make their choice at the next general election.
bahamapundit
by Simon
The House of Assembly debated a resolution on the Baha Mar deal recently. Unfortunately for the Perry Christie-led PLP, it has already lost the broader national debate on the proposed mega project.
This includes a haemorrhaging of goodwill from the PLP by many professionals and even many within the party who are flabbergasted and frustrated by Mr. Christie’s dissembling and series of incoherent statements on Baha Mar since its inception. Curiously, part of the story concerns – the BlackBerry.
Some weeks ago, Mr. Christie attempted to mock the Prime Minister for regularly checking his BlackBerry at a dinner attended by both leaders. Mr. Ingraham was monitoring any news of a settlement between Baha Mar and Scotiabank on an outstanding loan between the two entities.
The story reveals the essential differences between Messrs. Ingraham and Christie. Hubert Ingraham is a part of the Smartphone generation while his former law partner is a throwback to a bygone era, wedded to a model of economic development that is being assigned to the proverbial ash heap of history.
Mr. Ingraham’s use of the BlackBerry represents a forward-looking, tech-savvy style of leadership marked by a hands-on approach, timeliness and engagement. This is in marked contrast to Mr. Christie’s cavalier, late-again and disengaged style. The device that perhaps best represents his decision-making style is the telegraph, which in today’s world would be slow-moving, clunky and out-of-date.
But, the more defining difference between the men was revealed in one of the more shocking statements ever made by a Bahamian leader on a project as large and as involved as Baha Mar.
WE HAVE NO CHOICE?
On the eve of Mr. Ingraham’s departure for China, the Leader of the Opposition counselled the Prime Minister to take the Baha Mar deal as it was. His reckless advice: We have no choice! We have no choice?
One would have expected this to be the view of officials at Baha Mar, not of a former Prime Minister. Life is filled with choices, even in the most difficult circumstances.
It is clear that Mr. Christie would have headed to China on bended knee, as an agent for Baha Mar, representing narrow special interests rather than the broader Bahamian national interest.
Mr. Christie’s view that the country had no choice but to accept the Baha Mar deal as is, is the clearest insight yet into why he essentially gave away Bahamian treasure and land at Cable Beach which no Bahamian leader from the UBP, PLP or FNM ever did.
It explains the Great Mayaguana Land Give-Away in which beachfront property equivalent of the distance from the eastern end of New Providence to Lyford Cay was alienated to foreign interests.
It reveals why his party’s land policy has been disastrous for The Bahamas and why his talk of Bahamianization is mostly talk. It further demonstrates why Mr. Christie and the PLP are content to sell cheaply our national ambitions and dreams to foreign interests, often to the cheapest bidder, rather than genuinely empower Bahamians.
Thankfully, Mr. Ingraham disregarded Mr. Christie’s monstrously bad advice in his negotiations with the Chinese. He did so because he knows that The Bahamas indeed has a choice, indeed a number of choices, as we slowly recover from a global economic crisis.
HEAD-TO-HEAD
Rather than bended-knee, Mr. Ingraham went head-to-head with Chinese officials. Whereas Mr. Christie felt there was no choice than to accept $200 million dollars worth of contracts for Bahamians, Mr. Ingraham got that number doubled to $400 million. Those contracts will now include work on the Core Project which was not in the original deal.
In his Sunday press conference Mr. Ingraham noted that contracts will be awarded to large, medium, small scale and individual contractors. This is broad economic empowerment in fact, rather than just in talk.
Mr. Ingraham insisted on and got a sizable expansion of training opportunities for Bahamian workers and professionals. This dovetails with his administration’s revamping of the Bahamas Technical and Vocational Institute under revised legislation passed this year. It may also build on the National Retraining initiative launched last year.
The Prime Minister also suggested that there may have been some movement on phasing in the number of rooms at Baha Mar over a designated period of time.
Whatever the final outcome on this matter, it is clear that Mr. Ingraham went to China to negotiate a better deal for the country, as opposed to Mr. Christie who it appears may have gone simply for a signing ceremony and pomp in circumstances that would not have been as advantageous to The Bahamas.
WATERSHED
As noted previously in this column, the Baha Mar deal has been a watershed in terms of the vision and quality of governance demonstrated by Mr. Ingraham and the FNM in stark contrast to that of Mr. Christie and the PLP.
It must be a source of considerable angst for the latter, that the project they initiated has been re-negotiated on better terms and will be launched by an Ingraham-led FNM Government. History eclipses those who are irresolute, procrastinating and dithering when decisiveness is required.
The Bahamas deserves better than political, business or civic leaders telling us that we have no choice in charting our national destiny, despite the rough seas we are facing. This is the talk of those who are dragged along hopelessly by the stream events, rather than tacking and turning to navigate those events to one’s better advantage.
On Baha Mar and other foreign investment projects, Mr. Christie has shown that he is mastered and sidelined by events. Through painstaking negotiations Mr. Ingraham has shown that he knows how to shape events, even when presented with as problematic a deal as the initial one placed on the table by Baha Mar.
Mr. Christie’s declaration that the country had no choice on Baha Mar proved stunningly incorrect. It will prove to be one of the more disastrous pronouncements he has made in his long political career. It is a mistake the Bahamian people will clearly take into account as they make their choice at the next general election.
bahamapundit
Chronicling an Untimely Death
The Bahama Journal Editorial
Death, crime and despair now pervade areas like, Bain Town, Grant’s Town, Pinewood Gardens and other heartland communities in our land.
In those once thriving communities, we now have a situation where the common denominator has to do with young men and women who are seemingly prepared to do whatever is necessary in order to get over in this consumer-drenched society.
As a consequence, the trade in guns, drugs and sex continues apace; with boys, girls, men and women all engage in the brutality and carnality that comes whenever a society is put on the track to debauchery, idol worship and paganism.
In this regard, we cite but one untimely death of one young man – namely Sharmoco Newbold - to help us illuminate the point we make.
Here we are today quite certain that, in the fullness of time, Sharmoco Newbold will only leave behind the barest trace of the fact that he once lived; this due to the shortness of the life that was his.
Had it not been for his violent death and the riot that followed in Bain Town, his name would not –as it were- ring a bell.
He was allegedly felled by a police man.
This young man’s funeral was one of many that took place over the weekend; and so as we note it for our own reasons; we note also that, over the weekend, some of our nation’s Church families got together in solemn praise and worship to bid their farewells to this or that neighbor, family member or friend who had died.
This is as it should be as the living affirm both their connection with their dead and assert their faith that though we all must walk the road that leads from womb to tomb – yet shall we all be raised again in the glorious Resurrection.
But even as these commemorations are routine in this so-called and self-styled Christianity suffused land; there is also one other matter that is today especially poignant – this being the nauseating extent to which this community or that is called upon to bid adieu to this or that young man cut down on the cusp of manhood and civic responsibility.
Herein we find the beating heart of what is a terrifyingly nasty statistic; this being the high extent to which young men are killing each other.
And for sure – at the cankered core of this dread phenomenon we find young men confused to no end about what it means to be a real man; and thus their dread demeanor; their alcohol and drugs laced braggadocio and for sure – in at least some cases- the guns and the knives and the idea that they must get rich quick or die trying.
Tragically, very many of these youth – for no fault of their own making – sometimes grew up in homes where they were for all intents and purposes fatherless and motherless.
And since the rot goes so very deep, practically none of them would have had even the semblance of a praying grandmother; and so, by default, very many of these errant youth were dragged into adolescence and fury by the street and by this or that other malign force.
And while we are at it, the point must be made that there are so very many youth who are being born to men and women who copulate as if they were animals in heat – creatures that could care less about their young.
This is not to say that the rhetoric about how this or that ‘bouncing baby boy or girl’ was born to this or that woman on whatever day, invariably the fact remains that, this child is loved as if it was some kind animated doll – and soon thereafter once it reaches its rag-doll state, it is abandoned.
The child grows, goes to school, trudges along the dusty mean streets in its decaying neighborhood where it quickly learns the ways of that world; itself a place where hustling for money is the order of the day and a human market-place where the human person is itself merely one other commodity up for barter or sale.
And thus and thereafter, we come across children ailing with venereal diseases; youth being introduced to alcohol and drugs; youth in savage mimicry of their elders fighting like dogs and dying like them.
On occasion, some are shot dead by the police; on other occasions, this or that young man or woman is stabbed where it hurts most – in the heart.
But no matter how they die, the fact remains that the untimely and violent demise of even one human person in our land is a chronicle of a death that should not have been.
December 6th, 2010
The Bahama Journal Editorial
Death, crime and despair now pervade areas like, Bain Town, Grant’s Town, Pinewood Gardens and other heartland communities in our land.
In those once thriving communities, we now have a situation where the common denominator has to do with young men and women who are seemingly prepared to do whatever is necessary in order to get over in this consumer-drenched society.
As a consequence, the trade in guns, drugs and sex continues apace; with boys, girls, men and women all engage in the brutality and carnality that comes whenever a society is put on the track to debauchery, idol worship and paganism.
In this regard, we cite but one untimely death of one young man – namely Sharmoco Newbold - to help us illuminate the point we make.
Here we are today quite certain that, in the fullness of time, Sharmoco Newbold will only leave behind the barest trace of the fact that he once lived; this due to the shortness of the life that was his.
Had it not been for his violent death and the riot that followed in Bain Town, his name would not –as it were- ring a bell.
He was allegedly felled by a police man.
This young man’s funeral was one of many that took place over the weekend; and so as we note it for our own reasons; we note also that, over the weekend, some of our nation’s Church families got together in solemn praise and worship to bid their farewells to this or that neighbor, family member or friend who had died.
This is as it should be as the living affirm both their connection with their dead and assert their faith that though we all must walk the road that leads from womb to tomb – yet shall we all be raised again in the glorious Resurrection.
But even as these commemorations are routine in this so-called and self-styled Christianity suffused land; there is also one other matter that is today especially poignant – this being the nauseating extent to which this community or that is called upon to bid adieu to this or that young man cut down on the cusp of manhood and civic responsibility.
Herein we find the beating heart of what is a terrifyingly nasty statistic; this being the high extent to which young men are killing each other.
And for sure – at the cankered core of this dread phenomenon we find young men confused to no end about what it means to be a real man; and thus their dread demeanor; their alcohol and drugs laced braggadocio and for sure – in at least some cases- the guns and the knives and the idea that they must get rich quick or die trying.
Tragically, very many of these youth – for no fault of their own making – sometimes grew up in homes where they were for all intents and purposes fatherless and motherless.
And since the rot goes so very deep, practically none of them would have had even the semblance of a praying grandmother; and so, by default, very many of these errant youth were dragged into adolescence and fury by the street and by this or that other malign force.
And while we are at it, the point must be made that there are so very many youth who are being born to men and women who copulate as if they were animals in heat – creatures that could care less about their young.
This is not to say that the rhetoric about how this or that ‘bouncing baby boy or girl’ was born to this or that woman on whatever day, invariably the fact remains that, this child is loved as if it was some kind animated doll – and soon thereafter once it reaches its rag-doll state, it is abandoned.
The child grows, goes to school, trudges along the dusty mean streets in its decaying neighborhood where it quickly learns the ways of that world; itself a place where hustling for money is the order of the day and a human market-place where the human person is itself merely one other commodity up for barter or sale.
And thus and thereafter, we come across children ailing with venereal diseases; youth being introduced to alcohol and drugs; youth in savage mimicry of their elders fighting like dogs and dying like them.
On occasion, some are shot dead by the police; on other occasions, this or that young man or woman is stabbed where it hurts most – in the heart.
But no matter how they die, the fact remains that the untimely and violent demise of even one human person in our land is a chronicle of a death that should not have been.
December 6th, 2010
The Bahama Journal Editorial
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