Monday, January 23, 2012

...at the end of the day, workers will be laid off if the Atlantis resort performs poorly... just like in 2008 with the onset of the global financial crisis

Politics and the Atlantis deal


By PACO NUNEZ
Tribune News Editor


As is to be expected at this advanced stage in the election cycle, every issue with potential political mileage is going to be spun for all it's worth.

Just so with the collapse of the Atlantis ownership transfer deal. Mr Christie says Mr Ingraham should have been more forthcoming about the details, Mr Ingraham says Mr Christie's poor decisions in office created the conditions that led to the deal in the first place, and Branville McCartney says both men knew the proposal was bad for Bahamians, but kept this information from the public.

And, in another clear indicator of the times, even while politicking their hearts out Messrs Christie and McCartney have both sought to give the impression they are the only straight talker; the one not using the failed deal as a political stick to beat the others with.

The PLP leader has provided us with perhaps the most amusing quote, a classic example of political doublespeak.

Berating the Prime Minister for "playing politics" as the deal collapsed, Mr Christie said: "Atlantis is the nation's single largest private employer and thousands of Bahamian jobs are at stake."

Then: "We're told he found out on Friday that the Brookfield deal was going under. Did he tell the people of the Bahamas? Did he call union leaders or meet with workers? Did he start reviewing options for moving forward? No."

Let's see if we can follow his logic. The issue is too sensitive and too important for the Prime Minister to continue with politics-as-usual. To prove this, Mr Christie tries to scare the hell out of everyone ("thousands of Bahamian jobs are at stake"), then uses his alarmist interpretation to criticise the behaviour of his political opponent.

A political jab, disguised as a warning about making political jabs. Did Mr Christie think no one would see through his crafty trick?

His version is alarmist and inflammatory, because anyone with the merest hint of business sense - and I'm sure that includes Mr Christie - knows two facts to be true.

The first is that there is nothing the government can do at this stage about the underlying factors: Kerzner's inability to pay its creditors and the decision of those creditors to call in their loans.

The DNA may well be right, the deal would not have been ideal for the Bahamas; nevertheless, it was the only one on the table. What should the government have done, allow the largest private sector employer in the country to go bankrupt? Stage a $2.3 billion bail-out?

Fact

The second, more important fact, is that contrary to Mr Christie's assertions, the failure of the Brookfield deal has in no way rewritten the future for Atlantis workers.

That's not to say everything will necessarily be fine in the long-run, only that the probability it will has not been improved or worsened by the collapse of the deal.

This is especially the case, as while the transaction was scuppered by two junior creditors, the major players were all onboard, meaning a revised proposal with relatively minor changes could see the deal resurrected soon.

So, at the end of the day, workers will be laid off if the resort performs poorly - just like in 2008 with the onset of the global financial crisis.

If Atlantis does well, people will keep their jobs. Simple as that.

Now, no one is naive enough to believe the going will be easy; the creditors will expect hefty profit margins. After all, they're in it to get their money back.

But an essential ingredient in this formula is the product, which attracts the guests in the first place, and the new owners will know an understaffed resort is the fastest route to falling standards.

So, is it merely a case of much ado about nothing? Not quite.

What all the political gauze of the last week or so has managed to do, is obscure the real lesson of this "crisis" - the extent to which the notion has become imbedded in our collective psyche that as goes Atlantis, so goes the Bahamas.

The anxiety unleashed by this turn of events exposed how inextricably intertwined our sense of national well-being has become with the fate of a single entity.

Even those violently opposed to the pink monstrosity across the bridge have been lulled over the years into the assumption of its permanence, its inevitability.

Leaving aside arguments about whether the nature of our economy would have allowed for any realistic alternative, can it be healthy for a society to pin all its hopes on a single business, the ultimate fate of which is decided beyond our shores?

Of course, this leads us into a consideration of what the Bahamas would be today if Sol Kerzner had never come here in the first place.

When 800 workers were laid off from Atlantis in 2008, there was widespread concern that it would spark a crime wave. What would the other 8,000 employees be doing right now if history had taken a different course?

What other cracks in our society have been papered over by the existence of a mega-resort which just as easily, might never have been?

* What do you think?

Email: pnunez@tribunemedia.net

January 23, 2012

tribune242

Sunday, January 22, 2012

As we all sit and evaluate the political parties and independent candidates who will offer for public office in the run-up to the 2012 general election... we should make every effort to determine if there is someone on the ballot good enough to vote for...

Does it matter if you vote?


thenassauguardian editorial




Interesting debates always emerge when the question is posed as to whether or not citizens living in democracies should feel obligated to vote.

Most democracies were fought for.  People who campaigned for freedom, self-governance and civil rights were jailed; some were murdered; some were beaten and many others were victimized.  Some of these fights were actual wars.

In this context, we all should take the vote seriously.  It is not a right, but a gift fought for by those who came before us.

As we all sit and evaluate the political parties and independent candidates who will offer for public office in the run-up to the next general election, we should make every effort to determine if there is someone on the ballot good enough to vote for.

Those who do not think there is anyone good enough to vote for should consider entering the race or the political process.

But if the ballot is filled with poor candidates, what should a voter do?  Should voters feel compelled to vote?

No, they should not.  Voting is an important part of the democratic process.  However, voting should not be confused with democracy.  Democracy is about self-governance.  As citizens, we have a responsibility to do this everyday – not just every five years.

By working at a charity, providing assistance to the homeless, democracy is at work;  by volunteering as a mentor at a school, democracy is at work; by raising an educated, hardworking law-abiding citizen, democracy is at work.

So for those who think there is no reasonable offering to vote for at the next general election, you should rest assured that there are many other ways to participate in the advancement and governance of The Bahamas.

A group of residents in a community can easily come together, approach their public school, and start an after-school literacy program for the children falling behind, for example.

Simple initiatives such as these, if done by many individuals or by many groups, can do much to change the lives of the disadvantaged and the soon-to-be lost.

Elections are important; voting is important.  But if you think the mainstream political parties are pathetic and the independents are incompetent, do not distress.  You can exercise your democratic power everyday by doing something to help build the community.

Jan 21, 2012

thenassauguardian editorial

Saturday, January 21, 2012

Kerzner's Atlantis might have problems... but the sky is not falling

DON'T LISTEN TO THE MESSENGERS OF DOOM

tribune242 editorial

Kerzner's Atlantis Bahamas

THE SOUND bites being fired off by opposition politicians over the collapse of the Kerzner agreement with its Brookfield creditor gives the impression that they are intent -- in order to deal a mortal political blow to Prime Minister Ingraham-- on striking fear in Kerzner's staff just at a time when the resort is experiencing a favourable turn-around in business.

Although the Kerzner attempt at an ownership transfer failed last week, the current dispute is between creditors, aggrieved that a junior in their midst appears to have outsmarted the remaining six, all senior in the creditor lineup. They feared that Brookfield, in its proposed $175 million debt-for-equity swap, would be the sole beneficiary to any future success of the resort, leaving them empty handed. They appealed to a court in Delaware, which stopped the ownership transfer pending a court hearing. Brookfield, instead of wasting precious time in court, cancelled the Kerzner agreement, in the meantime continuing to try to broker a deal with its fellow lenders.

The Atlantis resort and the One & Only Ocean Club remain in Kerzner hands and under Kerzner management. Kerzner International president, George Markantonis, has repeatedly assured his staff and the public that the Kerzner-Brookfield transaction would in no way affect their jobs. Prime Minister Ingraham has also been given assurances that as far as the present transaction is concerned, Bahamians -- almost 8,000 of them -- have no reason to fear.

What they do not realise is that the debt crisis in Greece -- now tottering on the brink of default -- could create such an economic tsunami that international commerce, including tourism, could grind to a sudden halt. And as everything has a logical conclusion, the results would be -- no tourists, no jobs, no hotels. In these circumstances, employment at Atlantis would suffer a faster after-shock, forcing downsizing more than the present squabbles among Kerzner lenders.

And so, as the Kerzner president has said, not only would the lenders' foreclosing or putting the company into bankruptcy be "very far fetched", but so would the loss of local jobs. At present, said Mr Markantonis, "it's really looking like a nice January... and a strong winter." He hinted that additional staff might even be taken on.

In fact, Atlantis is too big to fail. It would cost more to go into bankruptcy than to keep the hotel open and continue to fight for business with a dedicated -- not a politically spooked staff -- as important members of the team.

Based on a $3 billion valuation of the property stamp tax alone would be $360 million. (See Tribune Business Editor Neil Hartnell's article in today's Business section).

Opposition Leader Perry Christie has berated Prime Minister Ingraham for not telling the Bahamian people on Friday that the Brookfield deal had failed. How could anyone speak on this matter with any authority when no one -- not even the Kerzner team - knew what was going on at that time. Mr Ingraham could have opened his mouth and babbled a lot of nonsensical platitudes that might have sounded good, but would have meant nothing because he -- like everyone else -- knew nothing. A wise man does not open his mouth unless he is sure of what he is going to say. This was a fight among lenders as they saw a lucrative deal about to slip through their fingers.

Mr Christie accused Mr Ingraham of not fighting for Bahamian jobs. How could Mr Ingraham enter the debate until he received an application from Brookfield for the government's approval of the transaction? It was at that point that he could have had his say and presented Bahamian demands, but before Mr Ingraham could properly read the application, Brookfield withdrew it. What did Mr Christie want Mr Ingraham to do -- fly to wherever the creditors were meeting, kick the door in and demand an audience? The idea, although ridiculous, is good political fodder for the ignorant. Mr Christie knows he is just making political noise. If he sincerely wanted to save Bahamian jobs he would stop ringing alarm bells.

And if Atlantis employees really want to save their jobs they will close their ears to "the sky is falling" myths and avoid the disaster into which Chicken Little led his friends by his false alarm.

According to the nursery rhyme, a very foolish Chicken Little was in the woods one day when an acorn fell on his tail. The silly little chick decided that the sky was falling, and so he ran to alert all his farmyard friends. When he told Henny Penny, she wanted to know how he knew that the sky was falling in. "I saw it with my eyes," said Chicken Little. "I heard it with my ears. Some of it fell on my tail." "We will run," said Henny Penny, "and tell the king." They lined up three more friends, frightening them into action with the same end-of-the-world story. Eventually, they came to the den of Foxy Loxy, who listened to the sky is falling in tale, and told them: "We will run," he said. "We will run into my den, and I will tell the king."

They ran into Foxy Loxy's den, But they did not come out again!

And that is just what will happen to Atlantis staff if they pay serious attention to all of these Chicken Littles, Henny Pennys, Turkey Lurkeys, Ducky Luckys and Goosey Looseys running around in today's political arena ringing false alarm bells.

Atlantis might have problems, but so far the sky has not fallen in.

January 20, 2012

tribune242 editorial

Friday, January 20, 2012

Is there political ideology or philosophy in Bahamian politics? ...Is Hubert Ingraham a conservative? ...Is Perry Christie a liberal? ...Is Branville McCartney a centrist? ...Who knows? ...Fellow Bahamians - It is important to know the political philosophy of parties and their leaders

Is there political ideology or philosophy in Bahamian politics?



thenassauguardian editorial




We now know almost all the election candidates of the three parties with representation in the House of Assembly.  The Progressive Liberal Party (PLP) and Free National Movement (FNM) have selected all the men and women who will run under their respective banners.  The Democratic National Alliance (DNA) has a few more to chose.

What is interesting is that each of the parties have a few candidates who have run for, or been supporters of, other parties.  There are some interesting examples.

For the PLP, Dr. Andre Rollins was a candidate in 2010 at the Elizabeth by-election for the National Development Party, and Dr. Bernard Nottage (the current Bain and Grants Town MP) led the Coalition for Democratic Reform against the PLP in the 2002 general election.

For the FNM, Cassius Stuart was the leader of the Bahamas Democratic Movement.  His colleagues on the FNM ticket Kenyatta Gibson, Edison Key and Prime Minister Hubert Ingraham are all former PLP MPs.

Dr. Madlene Sawyer, the DNA candidate for Southern Shores, was a former head of the PLP women’s branch.  Her DNA colleague Wallace Rolle ran for the PLP in the 2007 general election.  The DNA candidate for Bains Town and Grants Town, Rodney Moncur, was the leader of the obscure Worker’s Party before joining the DNA.  And Branville McCartney, the party’s leader, was a former FNM MP and Cabinet minister.

These are just a few prominent examples of the flow of people in Bahamian politics.  There are other candidates in the major parties who have been strong supporters of organizations opposed to the groups they are currently with.

What does it all mean?  Well, some would say nothing, as politicians in countries around the world change party affiliation all the time.  But, it could also be argued that the flow of people from party to party, running under any banner, exists here because there is little to no philosophical difference between the organizations.

In fact, it would be hard to use any traditional economic or political philosophy to describe any of the Bahamian political parties.  Could you describe the PLP, DNA or FNM as left or right wing, conservative or liberal?  No, you could not.

For example, in the 2012 Republican presidential race in the United States candidate Ron Paul is a libertarian.  Paul has very different view of the world from 2008 Democratic presidential candidate Dennis Kucinich, who is a social democrat.  Libertarians are suspicious of the state and argue for small government and low rates of taxation.  Social democrats think the state and taxation should be used to advance social justice.

It is important to know the political philosophy of parties and their leaders.  When parties and leaders have strong beliefs, they bring forward policies that change the lives of people in distinct ways.  A libertarian would essentially eliminate welfare.  They do not think the wealth of individuals should be taken away by the state to be given to others with less wealth.

Social democrats always want more taxation to advance some Utopian social program to ‘help’ people.  The business climate changes significantly when one of these politicians is elected, as opposed to the other.

Is Hubert Ingraham a conservative?  Is Perry Christie a liberal?  Is Branville McCartney a centrist?  Who knows?  Lately, our elections have been run on management style.  Essentially, this is the essence of the debate: “I am a better man than you.  Vote for me.”

A cynic could argue that it is difficult to pin down the political philosophy of our parties and politicians because they have none.  Instead, they simply seek power to dispense the authority and wealth of the state.  The voters then choose the person they think most able, and that’s that.  The better manager manages things in a better ad hoc manner not under any recognizable system of ideals.

If this type of politics is good enough for the people, it will continue.  For something else to evolve the people would have to demand more of the process and the people involved.

Jan 20, 2012

thenassauguardian editorial

Thursday, January 19, 2012

Bishop Neil Ellis is right... there are more than three demons destroying The Bahamas... but the main ones are the ones he decided to drag across the coals Monday night -- sexual immorality, financial instability and witchcraft


Bishop Neil Ellis


BISHOP ELLIS IS RIGHT - SOCIAL ILLS MEAN DESTRUCTION



tribune242 editorial



IN THIS column yesterday, we jested about Bishop Neil Ellis' theatrical announcement of how, as God's chosen messenger, he was sent to warn Bahamians that the world's three greatest vices, in the form of demons, had landed on our shores and were holding this country "hostage."

Jumping Jehosephat!   News enough to make the faint-hearted jump out of bed and take to the hills.   But that is not where the bishop wanted Bahamians to take themselves.   The bishop was dead serious.   He wanted them shivering in fright, not in the hills, but in Mount Tabor Full Gospel Baptist Church in Pinewood Gardens. The demons were so devilishly evil that he daren't mention their names outside the sanctified halls of Mount Tabor.   And only those who attended the church and filled the parking lot would get God's message first hand from his special messenger - Bishop Neil Ellis himself.



We must admit that the Bishop's promotion was superb.   He built the suspense up to a crescendo, until his church and parking lot were filled.   Up went the song.   The show was on.   At the end of the service, it is certain that the church's coffers were also generously filled.

But seriously now, Bishop Ellis is right, there are more than three demons destroying this country, but the main ones are the ones he decided to drag across the coals Monday night -- sexual immorality, financial instability and witchcraft.

Sexual immorality -- nothing new, been with us for a long time, as a matter of fact Adam and Eve were the ones who stole the apple from the garden and passed their sin down through the generations.   Here in The Bahamas, it goes under several names, the most popular being "sweethearting".

We recall overhearing an interview being conducted at The Tribune when we were quite young.   The person being interviewed was telling how a baby, in or out of wedlock -- particularly out of wedlock -- was a West Indian thing.   That child was treated as a woman's insurance for her old age.   At least she had someone to look after her when she was past it.   This struck our puritanical nature so strange at the time that it is the only part of that interview that we remember.

About 87 years ago, our mother landed in The Bahamas for the first time from the hills of Pennsylvania.   Although a young teacher, it was the first time that she had seen an ocean, islands, beaches, coconut trees, and many other things.   The first landing was at Mathew Town, Inagua, where an election was in full swing and her husband was one of the candidates.   As a good wife, she went off on her own to talk with the people.   When she and Sir Etienne Dupuch met again later in the day, she was troubled by a recurrent answer that she got whenever she asked a man how many children he had.

"Etienne," she said, "tell me what is this 'inside' and 'outside' thing.   Every man that I asked how many children he had would say, x number inside, and y number outside, and there was always more on the y side than the x side.   What did they mean?"   Poor, innocent Mum, she never lived that one down.   But by the time she arrived from Inagua to Nassau on the mail boat she had the answer-- she had learned about Inagua's many inside and outside children.

A few years ago, a young doctor told us that the maternity ward of the Princess Margaret Hospital was like a factory churning out babies into the bleakest of environments -- the nation's future social problems.   It was a maternity ward where babies were having babies, where young girls were on their third or fourth child, each with a different father.   It was shocking to identify some of these men, some of them already married, who were producing these "outside" families.

When we were a child, everyone was poor.   It was no sin to be poor, and no one seemed to envy his neighbour -- certainly not to the extent that we see today's avarice satisfied at any price.   At least growing up, money did not seem all that important.   Wasn't Sir Etienne, our father, often turning down advertising because it offended some principle, at the same time, we heard him worry out loud about where he was going to find the few pence needed in those days to pay our small staff.   We even watched when his largest advertiser arrived at his editorial door one day to cancel his advertising because he disapproved of a series of editorials Sir Etienne was writing about liquor stores being built, not only near churches, but in our poorest communities to undermine "our good people".

Before the advertiser could finish his sentence, Sir Etienne had cancelled his advertising and ordered him from his premises.   Of course, he had to meet payroll at the end of the week.   We do not know how he did it, but somehow he survived.   So we grew up believing that money was not all that important. However, what was important was to use our lives to honestly serve the Bahamian people through this newspaper.   We were not here to fill our own pockets, and so when business has to be turned down even today, it is turned down.

But in the sixties, attitudes changed.   The drug era was around the corner and success was measured by material wealth.   Bahamians were told that there was nothing stopping them becoming millionaires, and with the temptation of drug money coming in, nothing did.   No matter how uncouth or unlearned a man was he was soon in if he had the trappings of wealth -- however earned.   The younger generation looked up to their big brothers, daddys and uncles and measured success by their fast cars, the gold chains jangling from their necks and gaudy rings on their fingers.   Youngsters were writing school essays describing how their ambition in life was to be a drug smuggler like their uncle or cousin, or some other member of the family or friend. That's what heroes were made of in those days.

This is when one of Bishop Ellis' demons really took hold and spawned the crime that we see on the streets today.   We remember in those days - the seventies and eighties -- former Assistant Commissioner of Police Paul Thompson, now retired, predicting that if something were not done at that time to curb the trend we would be battling the very crime that is today destroying our way of life.

In this, Bishop Ellis is right.   This is one demon that has to be overcome by a community that has gone astray, never forgetting that many among them set the pace for today's problems.

January 19, 2012

- Bishop Neil Ellis of Mount Tabor Full Gospel Baptist Church warned that there are three demons that are holding The Bahamas hostage... and can only be exorcised with prayer... ... The demons are sexual immorality, financial instability and witchcraft -


- Bishop Neil Ellis and his 'message' from God -


tribune242 editorial

Wednesday, January 18, 2012

Wallace Rolle, the Democratic National Alliance (DNA) party ...and the change of more of the same

By Dennis Dames:



I have today listened to Mr. Wallace Rolle, the Democratic National Alliance (DNA) candidate for South Beach on Issues of the day. The gentleman appears to be a Utopian of the first order. He gives the impression that he and his party have all the solutions to our ills; like with a DNA victory - all lights will be turned on, unemployment will be eradicated, no one would lose their house, and the hurting that we the people are experiencing just now will be no more.

Mr. Rolle stopped short of promising that the tears from every Bahamian eye will be eliminated under a Democratic National Alliance administration.

He says that we need to diversify our economy. What does this mean? Agriculture and fisheries are already on the move, the Bahamian craft industry has received a major boost with the new straw market policy, and opportunities galore exist for young and the not so young entrepreneurs.

We need to legitimize the numbers business to enhance the nation’s revenue base. We need to look at the LNG question with a view of making a final decision; it looks like a new and potent income stream that could propel our country’s ambition to bring every brother and sister in the fold of economic prosperity. Our problem today is that we are not collecting enough income to pay our national bills; so our hands are tied when it comes to new initiatives right now.

Mr. Rolle spoke of the unemployment concerns of his young constituents, but his status quo and politically correct position is that they will fill every vacancy with a Bahamian who is qualified to perform the job. How will that position solve our unemployment challenges?

If a Democratic National Alliance government borrows funds from a foreign bank for capital works, and the bank insists that XYZ Company from Brazil has to be the general contractor with its hundreds of employees; what will they do? If every international bank relates the similar requirements, where would that leave the country? We would be drowning in our own inanity.

If an international business comes to The Bahamas with tens of millions of dollars in investments and they want to bring in their foreign CEO and comptroller, what will a DNA government do if they feel that Bahamians could fill those positions? Here is where a Bahamian first policy becomes dangerous and counter-productive to national economic development.

We need to personally and collectively take control of our destiny. If we are profoundly divided as a people, then there is nothing a new politician or representative could do for us. Lingering and deep-rooted disunity are holding back our progress as a people, and we must find our respective love button and come together for the common good.

A monumental policy was instituted in our straw market recently, where all goods must be Bahamian made. This decision alone could indirectly employ thousands of our people as the craft market is a forty million dollars a year plus industry. Every young talented Bahamian could take advantage of the opportunity by creating one great Bahamian souvenir item to sell to straw vendors; but opposition politicians would have none of it. As far as they are concerned, the governing Free National Movement (FNM) is simply good for nothing; and they insist on being their constituents employment agents. Yes, even the Democratic National Alliance (DNA) wants to control the people of whom they seek to represent.

It’s called the change of more of the same.

caribbean Blog International

Young politicians should be careful and not get too caught up in the excitement of the moments to come in the upcoming general election... selling dreams they cannot deliver

Candidates should not make unrealistic promises


thenassauguardian editorial





The Progressive Liberal Party (PLP) and the Free National Movement (FNM) have selected their candidates to run in the upcoming general election.  The fledgling Democratic National Alliance (DNA) is almost done with its candidate selection process.  Several independent candidates have also entered the various constituency races, such as Whitney Bastian in Mangrove Cay and South Andros and Craig Butler in Bamboo Town – and more are likely to emerge soon.

Some of these men and women who are running have been campaigning for years to win a constituency seat.  Some will begin that effort in the next few weeks.  The people will decide who will be successful and who will be forgotten.

To win, some go all out and make every promise possible.  The candidate pledges to fix every road in the area; to make sure every park is maintained; to find jobs for hundreds of people; to visit regularly after being elected; to make sure the community schools are without a need.

Campaigning is hard; winning is harder.  To do so you have to convince thousands of people you and your party are best equipped to run the country.  Telling people you will do everything for them may get you more votes.  But candidates must remember that if they win, those same people will be expecting them to deliver.

The life of that candidate could become miserable if he or she is unable to fulfill the promises made on the campaign trail.  If the candidate is elected for a governing party but has little power in the caucus, that member would have little capacity to deliver on anything for his or her area.  If elected for the opposition party, good luck getting the government to rush to your assistance in an opposition constituency.  And if the governing party does something in that area, it will tell the people it did it and not the opposition MP.

Reasonable and moderate pledges would be better for candidates and constituents.  Set out those issues of importance to the community and suggest cost-effective solutions.  Also, let the electorate know that if things don’t go well and the party does not win government, you would fight the good fight in public and in private for resources for the constituency.

Being a good public servant is also about telling people what is not possible or easily achieved.  Governments have limited resources.  They cannot tackle everything at once and some priorities deemed less critical might have to be ignored until a time comes when the capacity exists to address them.

When politicians keep promising and not delivering, they lose their credibility.  Voters eventually stop listening to the words of such people.

There are many people who are hurting in The Bahamas now due to the economic conditions that have persisted since the financial crisis of 2008.  The national jobless rate was last measured at 13-plus percent.  It may seem clever to bamboozle desperate people at election time for power.  Power attained in this manner is fleeting and no politician will build a long and successful career based on not being reliable.

Young politicians should be careful and not get too caught up in the excitement of the moments to come in the upcoming elections, selling dreams they cannot deliver.

Jan 18, 2012

thenassauguardian editorial