Forward with Baha Mar
The Bahama Journal Editorial
By way of this commentary, we reiterate a point previously made to the effect that this Baha Mar project is good for the Bahamas and that as such, its approval should be put on the fast track.
We base our conclusion in our conviction that –as designed- this project promises to double the marketing this country now enjoys.
This in turn, promises any number of ancillary benefits.
As Stephen Wrinkle, Bahamas Contractors Association underscores: "Remember what an impact we had when they built phase three of Atlantis. What they’re doing with Baha Mar is equal to all of the phases they did at Atlantis and they’re doing it one phase. This is a big deal…"
As regards the question concerning labor and its role in the realization of the Baha Mar project, Mr. Wrinkle said they were sorely needed.
Here Wrinkle notes that, “…They are calling for 8,000 workers out there; 4,000 workers have got to be found; we can’t provide 4,000 workers. We’d be hard pressed to provide half of that. On these big international projects it’s just a fact of life. We’ve sat at the table; the BCA has tried to represent the interests of Bahamian contractors and workers and we’ve had some success with Baha Mar; they’ve been receptive."
For our part, then, we are very optimistic concerning the goods that come packaged in with this initiative. And so today, we can go no further except to note that, Baha Mar is apparently well on its way to becoming a done deal; this because the current administration has apparently been satisfied with the outcome of prime minister Ingraham’s talks in Beijing on the matter in hand.
This is eminently good news for the Bahamian people.
We wish all well who worked so long and so hard to bring this matter to this state of high resolution. Parenthetically so to speak, this venture yet owes a debt of gratitude not only to the current administration; but also to its predecessor.
And so today we note that, time, reason and commonsense having been congealed into something akin to real understanding are apparently working their magic in a Bahamas where petulance, spite and nit-picking sometimes wreak havoc.
And for sure, as we have consistently lamented, these are surely some of the hardest days experienced by most Bahamians alive in what some of them might deem a ‘modern’ Bahamas.
It is just as true that, some of these Bahamians –having grown accustomed to relatively prosperous times – are beside themselves in distress.
While these hard times might well persist for an indefinite length of time, there is reason for some optimism as certain storm clouds recede; with some of these once shadowing the Baha Mar project with a veil of uncertainty.
Mercifully, things seem to be going in the right direction as the government now signals its intention to move forward with this singularly important venture.
Yet again, we reiterate that, we would very much like both the governing party and its Opposition to know that each has done itself a world of good by working together so as to bring about an optimal resolution as regards this Chinese funded initiative.
Incidentally, all of these groups and interests support the Baha Mar project and recognize the immediate and real benefits they will gain from its going forward.
Here we are also quite certain that, in the fullness of time, both parties would come to the conclusion that, each was guilty of making a mountain of a mole-hill as regards the Chinese request for thousands of expatriate workers who would assist in constructing the resort complex.
In this regard, we advise all and sundry that, this matter is not the biggest in the world and that, we all stand to gain tremendously once the Baha Mar project is off and running.
As we have previously suggested and explained, “…Let there be no mistake about the matter at hand – the Baha Mar project is a very big deal; it is not only a big deal to the investors who are putting their money on the line; but for sure, it is a huge deal for both the government and the people of The Bahamas.”
And we also went on to explain, “…“And here, let there be no mistake about another aspect of the matter involving this project – this project brings with it a large chance that – once completed – tens of thousands of Bahamians will benefit, either directly or indirectly…”
This remains our view.
November 17, 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.
Showing posts with label Stephen Wrinkle. Show all posts
Showing posts with label Stephen Wrinkle. Show all posts
Tuesday, November 16, 2010
Thursday, November 11, 2010
Bahamas Contractors' Association 'eagerly' awaiting word from the prime minister on his high-level meetings with the Chinese financiers of the $2.6 billion Baha Mar project
Contractors 'eagerly' awaiting word from PM on Baha Mar
By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net
THE Bahamas Contractors' Association is "eagerly" awaiting word from the prime minister on his high-level meetings with the Chinese financiers of the $2.6 billion Baha Mar project.
Head of the association Stephen Wrinkle was hopeful that the matter would be discussed at length in the House of Assembly today. However a clerk in Parliament told The Tribune that the House of Assembly will not meet again until November 17.
"I guess everyone is eagerly awaiting his report. Once Cabinet is advised I would assume they would make their findings known in House of Assembly (today)," said BCA president Wrinkle yesterday.
The prime minister met with members of the BCA a day before he left for his official visit to China and took stock of their group's concerns, especially their push for increased Bahamian labour incorporated into Baha Mar, transfer of knowledge from skilled Chinese workers to Bahamian labourers and greater funding allocated to train locals working on the project.
"He took those along with him and hopefully he brings back good news," said Mr Wrinkle.
Mr Ingraham returned from his trip to China - after stopping in Barbados to attend the funeral of Prime Minister David Thompson - last Friday.
He has been quiet on what transpired during that trip.
However, Mr Wrinkle expects to hear positive news.
"We always expect to hear good news, we're hopeful, I know the prime minister and his delegation did his best to (negotiate) the best deal possible and whatever he's done, we'll take it and run with it," he said.
The Tribune understands that compromises "may have been reached" between Mr Ingraham and the Chinese over the concerns he has voiced about the level of Chinese labour participation in the Baha Mar project and the single phase of construction involved.
According to information reaching The Tribune last week, there were three "points of compromise" arrived at between Mr Ingraham during meetings with the China State Construction Company - the general contractor for the $2.6 billion Baha Mar resort development - and officials from the China Import Export Bank in Beijing.
One of these compromises is said to be that a larger quantity of construction work and related dollars will go to Bahamian contractors.
Two other negotiated points were that more funding - in the hundreds of millions of dollars - would be allocated towards the training of Bahamian workers and the transferring of skills/knowledge during the project and the proposal that while it would be built in one phase, the resort's six hotels would "open in phases."
November 10, 2010
tribune242
By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net
THE Bahamas Contractors' Association is "eagerly" awaiting word from the prime minister on his high-level meetings with the Chinese financiers of the $2.6 billion Baha Mar project.
Head of the association Stephen Wrinkle was hopeful that the matter would be discussed at length in the House of Assembly today. However a clerk in Parliament told The Tribune that the House of Assembly will not meet again until November 17.
"I guess everyone is eagerly awaiting his report. Once Cabinet is advised I would assume they would make their findings known in House of Assembly (today)," said BCA president Wrinkle yesterday.
The prime minister met with members of the BCA a day before he left for his official visit to China and took stock of their group's concerns, especially their push for increased Bahamian labour incorporated into Baha Mar, transfer of knowledge from skilled Chinese workers to Bahamian labourers and greater funding allocated to train locals working on the project.
"He took those along with him and hopefully he brings back good news," said Mr Wrinkle.
Mr Ingraham returned from his trip to China - after stopping in Barbados to attend the funeral of Prime Minister David Thompson - last Friday.
He has been quiet on what transpired during that trip.
However, Mr Wrinkle expects to hear positive news.
"We always expect to hear good news, we're hopeful, I know the prime minister and his delegation did his best to (negotiate) the best deal possible and whatever he's done, we'll take it and run with it," he said.
The Tribune understands that compromises "may have been reached" between Mr Ingraham and the Chinese over the concerns he has voiced about the level of Chinese labour participation in the Baha Mar project and the single phase of construction involved.
According to information reaching The Tribune last week, there were three "points of compromise" arrived at between Mr Ingraham during meetings with the China State Construction Company - the general contractor for the $2.6 billion Baha Mar resort development - and officials from the China Import Export Bank in Beijing.
One of these compromises is said to be that a larger quantity of construction work and related dollars will go to Bahamian contractors.
Two other negotiated points were that more funding - in the hundreds of millions of dollars - would be allocated towards the training of Bahamian workers and the transferring of skills/knowledge during the project and the proposal that while it would be built in one phase, the resort's six hotels would "open in phases."
November 10, 2010
tribune242
Tuesday, November 9, 2010
PLP leader Perry Christie is at odds with Prime Minister Hubert Ingraham over Baha Mar Resort construction phases
Christie at odds with PM over six planned Baha Mar hotels
tribune242
PLP leader Perry Christie is at odds with Prime Minister Hubert Ingraham over his belief that the six hotels which are to be built as part of the Baha Mar Resort should be built or opened in phases.
Mr Christie said it would only increase the cost of the project to break down the construction into phases, and would make little sense for the resort developers not to open all of the hotels at the same time if they were all constructed simultaneously.
Information reaching The Tribune is that Prime Minister Hubert Ingraham may have asked the Chinese if the hotels could be built in phases rather than all at once or that if this could not be accommodated, that they would open in a phased manner.
But Mr Christie said that considering the fact that so much money was being borrowed to fund the hotels' construction it would "not make sense to have hotels sitting there that they couldn't sell", referring to the ability to sell rooms within the hotels once they are completed.
And he added that the size of the Baha Mar development was one of the reasons for the re-development of the Lynden Pindling International Airport.
Studies
"Don't forget, Baha Mar engaged a company to do studies which concluded that both the Baha Mar development and Atlantis can co-exist/be developed at the same time," said Mr Christie.
Meanwhile, Mr Christie also told The Tribune that he understands that coming out of the Prime Minister's meetings with Baha Mar financiers, China Export Import Bank and the China State Construction Company, its general contractor, an arrangement may have been reached whereby the Bahamian labour component on the construction project would be increased by ten per cent, with 40 per cent Bahamian and 60 per cent Chinese labour.
Some sources had suggested Mr Ingraham had sought to negotiate a $200million increase in the amount of funding that will go to Bahamian contractors in connection with the project.
"The Prime Minister, I presume upon his return, will advise the country as to whether or not he was able to succeed in these discussions," said Mr Christie last week.
Stephen Wrinkle, President of the Bahamas Contractors Association, said yesterday that prior to Mr Ingraham leaving for China he told the BCA in a meeting that he would seek to increase the Bahamian content of the labour force and get more work for Bahamian contractors as part of the Baha Mar project.
"We have to ensure we've got the quantity of the workers and the dollar value comes to the contractors and not just payrolls," said Mr Wrinkle yesterday.
The contractor added that as the industry awaits an announcement on what was the outcome of any efforts on behalf of Mr Ingraham to achieve this end, the BCA continues to dialogue with Baha Mar and BTVI on training workers so they are prepared "at such time as when the facts and figures emerge".
"We know there will be a Bahamian content in the labour force and the project and we are continuing to focus our efforts on preparing our workers and contractors so if the work the Prime Minister is doing comes to fruition we will be able to presentable work force for project," said Mr Wrinkle.
November 08, 2010
tribune242
tribune242
PLP leader Perry Christie is at odds with Prime Minister Hubert Ingraham over his belief that the six hotels which are to be built as part of the Baha Mar Resort should be built or opened in phases.
Mr Christie said it would only increase the cost of the project to break down the construction into phases, and would make little sense for the resort developers not to open all of the hotels at the same time if they were all constructed simultaneously.
Information reaching The Tribune is that Prime Minister Hubert Ingraham may have asked the Chinese if the hotels could be built in phases rather than all at once or that if this could not be accommodated, that they would open in a phased manner.
But Mr Christie said that considering the fact that so much money was being borrowed to fund the hotels' construction it would "not make sense to have hotels sitting there that they couldn't sell", referring to the ability to sell rooms within the hotels once they are completed.
And he added that the size of the Baha Mar development was one of the reasons for the re-development of the Lynden Pindling International Airport.
Studies
"Don't forget, Baha Mar engaged a company to do studies which concluded that both the Baha Mar development and Atlantis can co-exist/be developed at the same time," said Mr Christie.
Meanwhile, Mr Christie also told The Tribune that he understands that coming out of the Prime Minister's meetings with Baha Mar financiers, China Export Import Bank and the China State Construction Company, its general contractor, an arrangement may have been reached whereby the Bahamian labour component on the construction project would be increased by ten per cent, with 40 per cent Bahamian and 60 per cent Chinese labour.
Some sources had suggested Mr Ingraham had sought to negotiate a $200million increase in the amount of funding that will go to Bahamian contractors in connection with the project.
"The Prime Minister, I presume upon his return, will advise the country as to whether or not he was able to succeed in these discussions," said Mr Christie last week.
Stephen Wrinkle, President of the Bahamas Contractors Association, said yesterday that prior to Mr Ingraham leaving for China he told the BCA in a meeting that he would seek to increase the Bahamian content of the labour force and get more work for Bahamian contractors as part of the Baha Mar project.
"We have to ensure we've got the quantity of the workers and the dollar value comes to the contractors and not just payrolls," said Mr Wrinkle yesterday.
The contractor added that as the industry awaits an announcement on what was the outcome of any efforts on behalf of Mr Ingraham to achieve this end, the BCA continues to dialogue with Baha Mar and BTVI on training workers so they are prepared "at such time as when the facts and figures emerge".
"We know there will be a Bahamian content in the labour force and the project and we are continuing to focus our efforts on preparing our workers and contractors so if the work the Prime Minister is doing comes to fruition we will be able to presentable work force for project," said Mr Wrinkle.
November 08, 2010
tribune242
Tuesday, October 12, 2010
Stephen Wrinkle - Bahamas Contractors Association (BCA) President says: It is time for industry involvement in the Baha Mar negotiations
Call for more industry input in Baha Mar negotiations
NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net
IT IS time for industry involvement in the Baha Mar negotiations, according to the Bahamas Contractors Association.
Since the BCA submitted its position paper to the government in August it has received no response. Association president Stephen Wrinkle said "it seems to be the typical way of doing business" that industry stakeholders are not consulted.
Mr Wrinkle's comments came in the wake of Prime Minister Hubert Ingraham making his strongest personal statements yet on the Baha Mar issue.
Now that the financial hurdles have been overcome, Mr Wrinkle said he hopes the major stakeholders - Baha Mar, government and industry - will be brought together to iron out the remaining kinks.
"I would have thought more industry consultation would have taken place. They certainly have access to people in the industry through the Ministry of Works, but then again that is a government ministry," said Mr Wrinkle.
"We met with the opposition party and their caucus; we briefed them on our position paper and had discussions. We have met with Baha Mar and had discussions with them, but we have had absolutely no response from the government. I couldn't elaborate any further on what their position is because we don't know," he said.
Last week Mr Ingraham suggested Baha Mar may have to review the labour component of its proposal as well as plans for a "single-phased development" in order to satisfy the government's concerns.
One of the main concerns of industry, according to Mr Wrinkle, is the involvement of Bahamian contractors and the transfer of knowledge.
"These big international contracts are extremely difficult to micro-manage at a small level. It will take additional resources on their part to include more Bahamian contractors. It will take more oversight, more management, more participation from the project management team. We understand that," said Mr Wrinkle.
"I think there are concessions that have been given and others that are available to offset this added expense. The tradeoff is well worth it," he said.
On the matter of transferring knowledge, Mr Wrinkle said foreign contractors are not interested in transferring knowledge at the level of labour.
If the focus is only on supplying labour, he said, there would likely be little transfer of knowledge.
"How do you transfer knowledge on how to drive a shovel? That is nothing. We don't need that type of transfer of knowledge. We need to capitalise on techniques and technologies that are unavailable to us on the local market.
"There is not transfer at knowledge at the labour level. It is the duty of the government, the responsibility of government to put in place measures to ensure participation of the local industry. We cannot do it on our own," he said.
So far, Baha Mar has been responsive to the concerns of industry representatives, according to Mr Wrinkle.
However, there are currently no pledges on the table for money to be allocated for training and no stipulations requiring Baha Mar to integrate Bahamian contractors and their crews into the Baha Mar project.
October 09, 2010
tribune242
NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net
IT IS time for industry involvement in the Baha Mar negotiations, according to the Bahamas Contractors Association.
Since the BCA submitted its position paper to the government in August it has received no response. Association president Stephen Wrinkle said "it seems to be the typical way of doing business" that industry stakeholders are not consulted.
Mr Wrinkle's comments came in the wake of Prime Minister Hubert Ingraham making his strongest personal statements yet on the Baha Mar issue.
Now that the financial hurdles have been overcome, Mr Wrinkle said he hopes the major stakeholders - Baha Mar, government and industry - will be brought together to iron out the remaining kinks.
"I would have thought more industry consultation would have taken place. They certainly have access to people in the industry through the Ministry of Works, but then again that is a government ministry," said Mr Wrinkle.
"We met with the opposition party and their caucus; we briefed them on our position paper and had discussions. We have met with Baha Mar and had discussions with them, but we have had absolutely no response from the government. I couldn't elaborate any further on what their position is because we don't know," he said.
Last week Mr Ingraham suggested Baha Mar may have to review the labour component of its proposal as well as plans for a "single-phased development" in order to satisfy the government's concerns.
One of the main concerns of industry, according to Mr Wrinkle, is the involvement of Bahamian contractors and the transfer of knowledge.
"These big international contracts are extremely difficult to micro-manage at a small level. It will take additional resources on their part to include more Bahamian contractors. It will take more oversight, more management, more participation from the project management team. We understand that," said Mr Wrinkle.
"I think there are concessions that have been given and others that are available to offset this added expense. The tradeoff is well worth it," he said.
On the matter of transferring knowledge, Mr Wrinkle said foreign contractors are not interested in transferring knowledge at the level of labour.
If the focus is only on supplying labour, he said, there would likely be little transfer of knowledge.
"How do you transfer knowledge on how to drive a shovel? That is nothing. We don't need that type of transfer of knowledge. We need to capitalise on techniques and technologies that are unavailable to us on the local market.
"There is not transfer at knowledge at the labour level. It is the duty of the government, the responsibility of government to put in place measures to ensure participation of the local industry. We cannot do it on our own," he said.
So far, Baha Mar has been responsive to the concerns of industry representatives, according to Mr Wrinkle.
However, there are currently no pledges on the table for money to be allocated for training and no stipulations requiring Baha Mar to integrate Bahamian contractors and their crews into the Baha Mar project.
October 09, 2010
tribune242
Sunday, October 10, 2010
Stephen Wrinkle, Bahamas Contractors Association (BCA) president said the Baha Mar project could drain the country of workers in a "New York minute", and leave Bahamian contractors "left on the side lines."
Fears Baha Mar could drain country of workers
By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net
If Baha Mar drains the labour pool of Bahamian workers then contractors will be left twiddling their thumbs, according to the Bahamas Contractors Association.
Stephen Wrinkle, BCA president said the project could drain the country of workers in a "New York minute", and leave Bahamian contractors "left on the side lines." It has happened before and it could happen again, he said. "(Atlantis) drained our labour pool and caused the labour rates to go up; the supply of skilled labour was at a bare minimum for local contractors. It was that experience that caused us to learn you cannot just take the labour. Otherwise what is the point of having Bahamian contractors. Why not just have a labour agent," said Mr Wrinkle.
The situation will not be different this time around unless the government requires Baha Mar to insert specific language in any final agreement mandating the participation of Bahamian contractors and funding to train Bahamians.
His comments came in the wake of Prime Minister Hubert Ingraham calling the labour component of Baha Mar "onerous, burdensome and unacceptable."
Baha Mar has requested work permits for 8150 foreign workers over the life span of the $2.6 billion project and pledged $60 million in the first instance for Bahamian contractors two work on phase one.
"There are very few contractors poised to participate in the scope of work. We are trying to press the point that they need to employ contractors who would be able to bring their crew and the full resources of the company to the project. Otherwise we are going to have a whole bunch of contractors standing around with no crew," said Mr Wrinkle.
In the long run, he said, the direct trickle down effect from employing Bahamian contractors will be significantly higher than with foreign contractors.
"They have no need to inject money into our local economy. Their priority is to take our labour. What we continue to say is this is the wrong approach, because all we are doing is providing maids and spades. That cannot work; our economy cannot work in a labour only supply environment. We need to see the mandatory inclusion and provision of Bahamian contractors rather than simply bringing in foreign contractors to suck up our labour supply," said Mr Wrinkle.
There were many lessons learned by the industry from the "Kerzner experience." Tribune sources say the number of Mexican and Filipino workers hired to build Atlantis reached the thousands, although Atlantis is often referenced as the poster child for employing Bahamian construction workers.
Mr Wrinkle said that is a fair assessment. It is a well known fact that the Bahamas does not have a sufficient number of workers to fill the labour needs of large foreign direct investment (FDI) projects like Atlantis and Baha Mar, he said.
Mr Wrinkle speculated that is why the Prime Minister "was hoping Baha Mar could be phased, so we wouldn't need that tremendous injection of foreign labour."
That is why it is important for the government to ensure the participation of Bahamian contractors and not just labourers on FDI projects, he said.
In the case of Atlantis, Mr Wrinkle said it was only because of the persistence of the BCA that Bahamian contractors got a piece of the Atlantis pie.
"It took us until phase three to have substantial participation on that project. We fought long and hard against Atlantis before we finally got a piece of the pie over there. It was not a gift. Mr Kerzner did not voluntarily employ Bahamians.
"At the end of the day we were successful at negotiating with them for the participation of Bahamian contractors," he said.
October 09, 2010
tribune242
By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net
If Baha Mar drains the labour pool of Bahamian workers then contractors will be left twiddling their thumbs, according to the Bahamas Contractors Association.
Stephen Wrinkle, BCA president said the project could drain the country of workers in a "New York minute", and leave Bahamian contractors "left on the side lines." It has happened before and it could happen again, he said. "(Atlantis) drained our labour pool and caused the labour rates to go up; the supply of skilled labour was at a bare minimum for local contractors. It was that experience that caused us to learn you cannot just take the labour. Otherwise what is the point of having Bahamian contractors. Why not just have a labour agent," said Mr Wrinkle.
The situation will not be different this time around unless the government requires Baha Mar to insert specific language in any final agreement mandating the participation of Bahamian contractors and funding to train Bahamians.
His comments came in the wake of Prime Minister Hubert Ingraham calling the labour component of Baha Mar "onerous, burdensome and unacceptable."
Baha Mar has requested work permits for 8150 foreign workers over the life span of the $2.6 billion project and pledged $60 million in the first instance for Bahamian contractors two work on phase one.
"There are very few contractors poised to participate in the scope of work. We are trying to press the point that they need to employ contractors who would be able to bring their crew and the full resources of the company to the project. Otherwise we are going to have a whole bunch of contractors standing around with no crew," said Mr Wrinkle.
In the long run, he said, the direct trickle down effect from employing Bahamian contractors will be significantly higher than with foreign contractors.
"They have no need to inject money into our local economy. Their priority is to take our labour. What we continue to say is this is the wrong approach, because all we are doing is providing maids and spades. That cannot work; our economy cannot work in a labour only supply environment. We need to see the mandatory inclusion and provision of Bahamian contractors rather than simply bringing in foreign contractors to suck up our labour supply," said Mr Wrinkle.
There were many lessons learned by the industry from the "Kerzner experience." Tribune sources say the number of Mexican and Filipino workers hired to build Atlantis reached the thousands, although Atlantis is often referenced as the poster child for employing Bahamian construction workers.
Mr Wrinkle said that is a fair assessment. It is a well known fact that the Bahamas does not have a sufficient number of workers to fill the labour needs of large foreign direct investment (FDI) projects like Atlantis and Baha Mar, he said.
Mr Wrinkle speculated that is why the Prime Minister "was hoping Baha Mar could be phased, so we wouldn't need that tremendous injection of foreign labour."
That is why it is important for the government to ensure the participation of Bahamian contractors and not just labourers on FDI projects, he said.
In the case of Atlantis, Mr Wrinkle said it was only because of the persistence of the BCA that Bahamian contractors got a piece of the Atlantis pie.
"It took us until phase three to have substantial participation on that project. We fought long and hard against Atlantis before we finally got a piece of the pie over there. It was not a gift. Mr Kerzner did not voluntarily employ Bahamians.
"At the end of the day we were successful at negotiating with them for the participation of Bahamian contractors," he said.
October 09, 2010
tribune242
Friday, July 30, 2010
Concerns over Bahamian participation in the proposed $2.6 billion Baha Mar development
Concerns over Bahamian participation in Baha Mar raised at BCA meeting
By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net:
CONSTRUCTION industry stakeholders yesterday questioned how the Bahamas Contractors' Association would ensure that small operators get a fair share of work on the proposed $2.6 billion Baha Mar development and similar projects.
These concerns were raised yesterday at a luncheon held by the BCA at the Wyndham Crystal Palace Resort and Casino in Cable Beach to inform the industry of impending changes the local construction sector must adopt to qualify for work on massive foreign investment projects such as Baha Mar.
Baha Mar's developers will introduce $60 million worth of contracts to begin the first phase of the project, which will only be awarded to Bahamian contractors, in the coming weeks.
BCA President Stephen Wrinkle assured the crowd of construction workers, contractors and tradesmen that his organisation would find ways to help create the "maximum Bahamian participation" in the development.
"The reason we're here today is to try to get the little man onboard with these projects. Let's face it – the big fellas, they fight their battles too but they're going to be here whether Baha Mar goes (forward) or not but the little man needs a lil' leg up right now to get along with this project and that's all we're trying to do," he said in a response to a question from the crowd.
The changes, which will allow the local construction sector to meet the expectations of the international market are separated into three parts: Creating a jobs skills bank for the sector; adopting an internationally recognised system of identifying classifications for division contractors; and launching a construction seminar series to help contractors meet the pre-qualification, tendering and administrative requirements of large scale developers.
Courses will then be held at the Bahamas Technical and Vocational Institute (BTVI) to certify these workers, and allow them to received advanced certification.
The skills bank will be of use to contractors and sub-contractors, allowing them to draw from a pool of qualified workers. It also will establish, for the first time according to Mr Wrinkle, national standards for those in the industry, "So that when a carpenter comes looking for work and he shows the certificate you will have some assurance that they have attained the basic, minimum skills required for each level.”
The crowd was also briefed on the most recent developments in the progress of Baha Mar's proposed transformation of the Cable Beach strip, which got a boost this week after the government of the People's Republic of China formally approved the joint venture.
The first phase requires the removal of government and other buildings adjacent to the Sheraton Nassau Beach and Wyndham Crystal Palace hotels, as well as the rerouting of West Bay Street for one and a half miles to skirt Baha Mar’s build site.
Vice president of construction for the project, Tom Dunlap, said the first phase could take 9-18 months.
The development is expected to create 11,000 jobs for Bahamians and add $1 billion to the local economy in the first year after completion. However the future of the project faces another hurdle – final approval from the Bahamas government.
July 29, 2010
tribune242
By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net:
CONSTRUCTION industry stakeholders yesterday questioned how the Bahamas Contractors' Association would ensure that small operators get a fair share of work on the proposed $2.6 billion Baha Mar development and similar projects.
These concerns were raised yesterday at a luncheon held by the BCA at the Wyndham Crystal Palace Resort and Casino in Cable Beach to inform the industry of impending changes the local construction sector must adopt to qualify for work on massive foreign investment projects such as Baha Mar.
Baha Mar's developers will introduce $60 million worth of contracts to begin the first phase of the project, which will only be awarded to Bahamian contractors, in the coming weeks.
BCA President Stephen Wrinkle assured the crowd of construction workers, contractors and tradesmen that his organisation would find ways to help create the "maximum Bahamian participation" in the development.
"The reason we're here today is to try to get the little man onboard with these projects. Let's face it – the big fellas, they fight their battles too but they're going to be here whether Baha Mar goes (forward) or not but the little man needs a lil' leg up right now to get along with this project and that's all we're trying to do," he said in a response to a question from the crowd.
The changes, which will allow the local construction sector to meet the expectations of the international market are separated into three parts: Creating a jobs skills bank for the sector; adopting an internationally recognised system of identifying classifications for division contractors; and launching a construction seminar series to help contractors meet the pre-qualification, tendering and administrative requirements of large scale developers.
Courses will then be held at the Bahamas Technical and Vocational Institute (BTVI) to certify these workers, and allow them to received advanced certification.
The skills bank will be of use to contractors and sub-contractors, allowing them to draw from a pool of qualified workers. It also will establish, for the first time according to Mr Wrinkle, national standards for those in the industry, "So that when a carpenter comes looking for work and he shows the certificate you will have some assurance that they have attained the basic, minimum skills required for each level.”
The crowd was also briefed on the most recent developments in the progress of Baha Mar's proposed transformation of the Cable Beach strip, which got a boost this week after the government of the People's Republic of China formally approved the joint venture.
The first phase requires the removal of government and other buildings adjacent to the Sheraton Nassau Beach and Wyndham Crystal Palace hotels, as well as the rerouting of West Bay Street for one and a half miles to skirt Baha Mar’s build site.
Vice president of construction for the project, Tom Dunlap, said the first phase could take 9-18 months.
The development is expected to create 11,000 jobs for Bahamians and add $1 billion to the local economy in the first year after completion. However the future of the project faces another hurdle – final approval from the Bahamas government.
July 29, 2010
tribune242
Sunday, June 20, 2010
Pray That The Baha Mar Deal Is Sealed
“We Better Pray Baha Mar Deal Is Sealed”
By ROGAN SMITH:
As the verbal tug of war rages over the multi-billion dollar Baha Mar project and whether to allow 5,000 Chinese workers to enter the country - one leading contractor says Bahamians better pray that The Bahamas gets the deal, if not the entire island’s tourism product will be resting "solely on the shoulders of Sol Kerzner and Atlantis."
Prime Minister Hubert Ingraham sent tongues wagging when he announced earlier this week that he would not have approved the Baha Mar deal if his administration were in office in 2005.
Former Prime Minister and Opposition Leader Perry Christie approved the Cable Beach project.
Since Mr. Ingraham’s announcement, Mr. Christie has expressed serious concerns about the way Mr. Ingraham "politicises" the investment sector in the country and he warned him to desist his "irresponsible" approach to potential investors.
Two years ago gaming giant, Harrah’s Entertainment – Baha Mar’s former strategic partner – pulled out of the deal reportedly in response to comments Mr. Ingraham made in the House of Assembly.
At the time Mr. Ingraham expressed reservations about the financial viability of the Baha Mar developers, indicating that he had more confidence in Harrah’s ability to finance the project.
But, Bahamian Contractors Association (BCA) President Stephen Wrinkle said it is crucial that the Baha Mar project comes on stream as it would help to significantly grow the economy.
The $2.6 billion project promises to create thousands of temporary and full-time jobs and transform the drab Cable Beach area into a glitzy tourist mecca.
"I think he has [Mr. Kerzner] carried the load magnificently for several years, but can you imagine 8,000 new jobs and 5,000 new rooms? The room tax alone from that is [huge]. Phenomenal income streams are going to be available for that mega project," Mr. Wrinkle said during a recent Bahama Journal interview.
"I would like to see as much support given by to the government to Mr. (Sarkis) Izmirlian [Baha Mar Chairman and CEO] and his team. I think they’ve done a fantastic job of holding on. They went through a terrible experience with their Nevada group and a huge failure. They’ve incurred serious carrying costs. I think at the end of the day it’s going to be a better project than it would’ve been because you always learn more from your losses than you do your gains. But, they’ve stood the test of time and quite frankly I think we can see a renewed Cable Beach."
Mr. Wrinkle said the project would also provide huge benefits for The Bahamas.
"We’re going to have double the marketing that we have now; double the amount of people arriving at the airport now and double all the numbers that Kerzner has," he said.
"Remember what an impact we had when they built phase three of Atlantis. What they’re doing with Baha Mar is equal to all of the phases they did at Atlantis and they’re doing it one phase. This is a big deal," he said.
Regarding the Chinese workers that the government plans to bring in, Mr. Wrinkle said they are needed.
"They are calling for 8,000 workers out there; 4,000 workers have got to be found; we can’t provide 4,000 workers. We’d be hard pressed to provide half of that. On these big international projects it’s just a fact of life. We’ve sat at the table; the BCA has tried to represent the interests of Bahamian contractors and workers and we’ve had some success with Baha Mar; they’ve been receptive," he said.
"They have a commitment with the government to hire Bahamians. It’s in their Head of Agreement. It is in the contract with China State Construction and China Finance Bank. There is language in there that mandates that they make the effort and employ Bahamians where possible."
He continued: "The problem in the past is it’s never been fully implemented. So, we’ve been very active in trying to make sure that we have a seat at the table and that wherever and whenever we can gain access to work that it’s offered. These projects are so enormous that when you think in terms of $2 billion in a build-up that they say is going to take five years, every day, whether they hit a lick or not, is going to cost them several million dollars. So, the productivity has to be there. Imagine trying to run 8,000 people on a construction site. This is a huge endeavour and after that we’re going to have 8,000 permanent jobs."
June 17th, 2010
jonesbahamas
By ROGAN SMITH:
As the verbal tug of war rages over the multi-billion dollar Baha Mar project and whether to allow 5,000 Chinese workers to enter the country - one leading contractor says Bahamians better pray that The Bahamas gets the deal, if not the entire island’s tourism product will be resting "solely on the shoulders of Sol Kerzner and Atlantis."
Prime Minister Hubert Ingraham sent tongues wagging when he announced earlier this week that he would not have approved the Baha Mar deal if his administration were in office in 2005.
Former Prime Minister and Opposition Leader Perry Christie approved the Cable Beach project.
Since Mr. Ingraham’s announcement, Mr. Christie has expressed serious concerns about the way Mr. Ingraham "politicises" the investment sector in the country and he warned him to desist his "irresponsible" approach to potential investors.
Two years ago gaming giant, Harrah’s Entertainment – Baha Mar’s former strategic partner – pulled out of the deal reportedly in response to comments Mr. Ingraham made in the House of Assembly.
At the time Mr. Ingraham expressed reservations about the financial viability of the Baha Mar developers, indicating that he had more confidence in Harrah’s ability to finance the project.
But, Bahamian Contractors Association (BCA) President Stephen Wrinkle said it is crucial that the Baha Mar project comes on stream as it would help to significantly grow the economy.
The $2.6 billion project promises to create thousands of temporary and full-time jobs and transform the drab Cable Beach area into a glitzy tourist mecca.
"I think he has [Mr. Kerzner] carried the load magnificently for several years, but can you imagine 8,000 new jobs and 5,000 new rooms? The room tax alone from that is [huge]. Phenomenal income streams are going to be available for that mega project," Mr. Wrinkle said during a recent Bahama Journal interview.
"I would like to see as much support given by to the government to Mr. (Sarkis) Izmirlian [Baha Mar Chairman and CEO] and his team. I think they’ve done a fantastic job of holding on. They went through a terrible experience with their Nevada group and a huge failure. They’ve incurred serious carrying costs. I think at the end of the day it’s going to be a better project than it would’ve been because you always learn more from your losses than you do your gains. But, they’ve stood the test of time and quite frankly I think we can see a renewed Cable Beach."
Mr. Wrinkle said the project would also provide huge benefits for The Bahamas.
"We’re going to have double the marketing that we have now; double the amount of people arriving at the airport now and double all the numbers that Kerzner has," he said.
"Remember what an impact we had when they built phase three of Atlantis. What they’re doing with Baha Mar is equal to all of the phases they did at Atlantis and they’re doing it one phase. This is a big deal," he said.
Regarding the Chinese workers that the government plans to bring in, Mr. Wrinkle said they are needed.
"They are calling for 8,000 workers out there; 4,000 workers have got to be found; we can’t provide 4,000 workers. We’d be hard pressed to provide half of that. On these big international projects it’s just a fact of life. We’ve sat at the table; the BCA has tried to represent the interests of Bahamian contractors and workers and we’ve had some success with Baha Mar; they’ve been receptive," he said.
"They have a commitment with the government to hire Bahamians. It’s in their Head of Agreement. It is in the contract with China State Construction and China Finance Bank. There is language in there that mandates that they make the effort and employ Bahamians where possible."
He continued: "The problem in the past is it’s never been fully implemented. So, we’ve been very active in trying to make sure that we have a seat at the table and that wherever and whenever we can gain access to work that it’s offered. These projects are so enormous that when you think in terms of $2 billion in a build-up that they say is going to take five years, every day, whether they hit a lick or not, is going to cost them several million dollars. So, the productivity has to be there. Imagine trying to run 8,000 people on a construction site. This is a huge endeavour and after that we’re going to have 8,000 permanent jobs."
June 17th, 2010
jonesbahamas
Thursday, June 10, 2010
Bahamas 2010/2011 Budget Under Fire
Budget Backlash
jonesbahamas:
The widely unpopular 2010/2011 Budget came under fire Monday from one of the nation’s most prominent contractors and a political party leader, who both unleashed a perfect storm of criticism against the fiscal plan.
For a nation desperate for an economic lifeline, President of the Bahamian Contractors Association (BCA) President Stephen Wrinkle said this budget offered little solace.
He argued that the proposed budgetary initiatives would in fact send more workers to a growing unemployment line.
"I’m a builder and a developer and in my company, like every other company in The Bahamas today, I think everybody took pencil to paper in this last week and looked at what they can do without and who they can do without and we’re making our cuts," he said.
"The people that we were keeping because they were good staff, maybe we have to let them go now because we don’t have the workload to sustain it. We’ve been sustaining it for a year to a year-and-a-half in our industry anyway and most contractors have reached the point where unless they’ve got work in hand they are cutting back because they just can’t handle those carrying charges any longer."
Perhaps more importantly, Bahamas Democratic Movement (BDM) Leader Cassius Stuart, who is also a business consultant, said the budget had more to do with infrastructure than investing in human capital.
Both men were guests on the Love 97 weekly talk show, On Point, with hosts Rogan Smith and Tosheena Robinson-Blair.
"We are borrowing for capital development. What is frightening, though, is that we are putting the education of our people, the development of our human capital on the altar. We are sacrificing it on the altar of capital development," he said.
"How could we, on the one hand, cut expenditure for education . . . but increase capital developments for roads and other projects? It doesn’t make any sense because the number one engine in an economy is its people. People earn revenue. If the people are not being invested in or developed we’ll find ourselves fighting in the public and private sectors for more productivity from people."
He continued: "The government cut subsidies for the private schools by 20 per cent, which means that private schools will be forced to increase school fees. So now those who have children in private schools who can’t meet those [fee payments] will have to pull their kids out and put them in public schools. The public schools are already overcrowded, so where you currently have 30 or 40 students in a class in the public school, that will be increased to about 50 students."
Mr. Wrinkle said the "ugliest part of this budget" is the fact that the tax burden will continue to be placed on the only economic engine that the country has – the business community.
"We cannot continue to place the yolk of the burden on the business community without providing some incentive for growth," he said. "Our GDP is projected to shrink this year. The entire economy is in a recessionary mode, yet there’s been an increased tax burden on all aspects of business, whether it be an increase in stamp duty on legal transactions or NIB contributions for payrolls or business licence fees."
"The Industries Act was a real incentive that I think most Bahamians assumed would be a continuing incentive that would be available for manufacturing and when that was literally pulled out from underneath us with the stroke of a pen by one individual I think it sent a clear indication of how our country is governed."
Mr. Wrinkle said the business community now finds itself in a very difficult situation in very trying times.
"We’re now going to have to look at ways in which we can change our approach to not only make ends meet, but to make progress. With a shrinking economy, shrinking productivity, a shrinking market, we’ve got to offer some more growth incentive. Otherwise, all we’re doing is putting more plough on the horses and pulling it and at some point the horse is going to get tired and fall down," he said.
"I appreciate that there are only so many revenue streams that we have at the moment from which to draw. But, I am deeply disturbed that we are digging deeply at the crucial aspects of survival for our economic engine – the tourism sector: the room taxes have been increased; the departure taxes have been increased."
Mr. Wrinkle also expressed disappointment that the government does not consult the private industry.
"I think that is a tremendous loss, because you have experts in virtually every field of the budget readily available and willing to contribute to the management of the government, but we’ve got a government that holds its cards closer than Kenny Rogers did in Five Card Stud and they just don’t share information; they don’t share responsibilities or anything that they don’t have to share," he said.
Mr. Stuart agreed. He said the government should have consulted more with the relevant stakeholders.
Prime Minister Hubert Ingraham, during his budget communication, announced a number of budget cuts and tax hikes. He immediately raised the duty rates on car imports – a move that immediately sparked backlash from car dealers in the country. Many feared that their businesses would go belly up in the coming months.
A week later, after consulting with the dealers, the prime minister made several adjustments to the tax rates.
"The prime minister now finds himself, after the fact, coming to the car dealers after he discovers exactly what they are experiencing. Then he makes decisions based on what he finds. He should have just consulted with them in the first place, and by extension consulted with the mail boat operators and all of the stakeholders in society to find out what shortfalls they are experiencing" Mr. Stuart said.
The BDM leader called the budget "scary" and said for years he has been calling on the government to tighten up on spending.
"In the good times our government refused to do that. We have to be fiscally responsible and economically prudent. When things were good we were spending a lot, almost as if we were never going to reach this day. Now that we’re here the government has been forced to cut back on a lot of things and it’s needed. We now find ourselves in a place where we’re trying to figure out how we’re going to cover our costs and cover the overhead that the government has," he said.
Mr. Stuart said The Bahamas has not experienced any new growth in its industries, but has experienced a "significant" decline.
"Many small businesses, particularly in the manufacturing sector, have either shut down or downsized due to overhead costs. One of the many overhead costs that small businesses have been affected by is the increase in BEC (Bahamas Electricity Corporation) utility rates. It’s killing them," he said.
"There is a plan on the table to again increase that rate. On top of that we’re saying we want to increase National Insurance contribution rates by one per cent. Most companies are now looking through their books to see who they can let go because of the increase in overhead."
Mr. Wrinkle agreed.
He said the government has again "missed an opportunity to provide incentives for growth because without growth in the business sector, we’re not really going to climb out of this; we’re just making more demands."
"When you take away the concessions that manufacturers have, like the people that make the windows, the doors, the hurricane shutters and a myriad of consumable items, we’ve got chemical companies that make soaps – all of these things that are consumed here that save us from exporting our U.S. dollars and employ people keep people employed – it affects them," he said.
"It isn’t like the construction sector where I may have 130 employees this month, but next month I may have 50 because when our job is finished I have to let them go. When you’re building a manufacturing company and you start off with four employees, next year you’ve got six and then eight and then 12 and it’s long term. I really think this one is going to come back to bite [the government] because you can’t tell people that you want to produce Bahamian entrepreneurs and businessmen and then in a stroke of a pen you pull the rug out underneath them."
Mr. Wrinkle said he believes there is a serious disconnect between the politicians and businessmen in the country. He said while incentives for growth d not necessarily have to be tied to a budget, they should have been included.
"The fact that we don’t have adequate incentives in place is reflected in the way they address the budget. They have not looked outside the envelope of revenue stream. It appears that they had a list of the revenues and they went down with a pencil and ticked off which ones they thought they could increase and generate more revenue stream from the taxes," he said.
June 9, 2010
jonesbahamas
jonesbahamas:
The widely unpopular 2010/2011 Budget came under fire Monday from one of the nation’s most prominent contractors and a political party leader, who both unleashed a perfect storm of criticism against the fiscal plan.
For a nation desperate for an economic lifeline, President of the Bahamian Contractors Association (BCA) President Stephen Wrinkle said this budget offered little solace.
He argued that the proposed budgetary initiatives would in fact send more workers to a growing unemployment line.
"I’m a builder and a developer and in my company, like every other company in The Bahamas today, I think everybody took pencil to paper in this last week and looked at what they can do without and who they can do without and we’re making our cuts," he said.
"The people that we were keeping because they were good staff, maybe we have to let them go now because we don’t have the workload to sustain it. We’ve been sustaining it for a year to a year-and-a-half in our industry anyway and most contractors have reached the point where unless they’ve got work in hand they are cutting back because they just can’t handle those carrying charges any longer."
Perhaps more importantly, Bahamas Democratic Movement (BDM) Leader Cassius Stuart, who is also a business consultant, said the budget had more to do with infrastructure than investing in human capital.
Both men were guests on the Love 97 weekly talk show, On Point, with hosts Rogan Smith and Tosheena Robinson-Blair.
"We are borrowing for capital development. What is frightening, though, is that we are putting the education of our people, the development of our human capital on the altar. We are sacrificing it on the altar of capital development," he said.
"How could we, on the one hand, cut expenditure for education . . . but increase capital developments for roads and other projects? It doesn’t make any sense because the number one engine in an economy is its people. People earn revenue. If the people are not being invested in or developed we’ll find ourselves fighting in the public and private sectors for more productivity from people."
He continued: "The government cut subsidies for the private schools by 20 per cent, which means that private schools will be forced to increase school fees. So now those who have children in private schools who can’t meet those [fee payments] will have to pull their kids out and put them in public schools. The public schools are already overcrowded, so where you currently have 30 or 40 students in a class in the public school, that will be increased to about 50 students."
Mr. Wrinkle said the "ugliest part of this budget" is the fact that the tax burden will continue to be placed on the only economic engine that the country has – the business community.
"We cannot continue to place the yolk of the burden on the business community without providing some incentive for growth," he said. "Our GDP is projected to shrink this year. The entire economy is in a recessionary mode, yet there’s been an increased tax burden on all aspects of business, whether it be an increase in stamp duty on legal transactions or NIB contributions for payrolls or business licence fees."
"The Industries Act was a real incentive that I think most Bahamians assumed would be a continuing incentive that would be available for manufacturing and when that was literally pulled out from underneath us with the stroke of a pen by one individual I think it sent a clear indication of how our country is governed."
Mr. Wrinkle said the business community now finds itself in a very difficult situation in very trying times.
"We’re now going to have to look at ways in which we can change our approach to not only make ends meet, but to make progress. With a shrinking economy, shrinking productivity, a shrinking market, we’ve got to offer some more growth incentive. Otherwise, all we’re doing is putting more plough on the horses and pulling it and at some point the horse is going to get tired and fall down," he said.
"I appreciate that there are only so many revenue streams that we have at the moment from which to draw. But, I am deeply disturbed that we are digging deeply at the crucial aspects of survival for our economic engine – the tourism sector: the room taxes have been increased; the departure taxes have been increased."
Mr. Wrinkle also expressed disappointment that the government does not consult the private industry.
"I think that is a tremendous loss, because you have experts in virtually every field of the budget readily available and willing to contribute to the management of the government, but we’ve got a government that holds its cards closer than Kenny Rogers did in Five Card Stud and they just don’t share information; they don’t share responsibilities or anything that they don’t have to share," he said.
Mr. Stuart agreed. He said the government should have consulted more with the relevant stakeholders.
Prime Minister Hubert Ingraham, during his budget communication, announced a number of budget cuts and tax hikes. He immediately raised the duty rates on car imports – a move that immediately sparked backlash from car dealers in the country. Many feared that their businesses would go belly up in the coming months.
A week later, after consulting with the dealers, the prime minister made several adjustments to the tax rates.
"The prime minister now finds himself, after the fact, coming to the car dealers after he discovers exactly what they are experiencing. Then he makes decisions based on what he finds. He should have just consulted with them in the first place, and by extension consulted with the mail boat operators and all of the stakeholders in society to find out what shortfalls they are experiencing" Mr. Stuart said.
The BDM leader called the budget "scary" and said for years he has been calling on the government to tighten up on spending.
"In the good times our government refused to do that. We have to be fiscally responsible and economically prudent. When things were good we were spending a lot, almost as if we were never going to reach this day. Now that we’re here the government has been forced to cut back on a lot of things and it’s needed. We now find ourselves in a place where we’re trying to figure out how we’re going to cover our costs and cover the overhead that the government has," he said.
Mr. Stuart said The Bahamas has not experienced any new growth in its industries, but has experienced a "significant" decline.
"Many small businesses, particularly in the manufacturing sector, have either shut down or downsized due to overhead costs. One of the many overhead costs that small businesses have been affected by is the increase in BEC (Bahamas Electricity Corporation) utility rates. It’s killing them," he said.
"There is a plan on the table to again increase that rate. On top of that we’re saying we want to increase National Insurance contribution rates by one per cent. Most companies are now looking through their books to see who they can let go because of the increase in overhead."
Mr. Wrinkle agreed.
He said the government has again "missed an opportunity to provide incentives for growth because without growth in the business sector, we’re not really going to climb out of this; we’re just making more demands."
"When you take away the concessions that manufacturers have, like the people that make the windows, the doors, the hurricane shutters and a myriad of consumable items, we’ve got chemical companies that make soaps – all of these things that are consumed here that save us from exporting our U.S. dollars and employ people keep people employed – it affects them," he said.
"It isn’t like the construction sector where I may have 130 employees this month, but next month I may have 50 because when our job is finished I have to let them go. When you’re building a manufacturing company and you start off with four employees, next year you’ve got six and then eight and then 12 and it’s long term. I really think this one is going to come back to bite [the government] because you can’t tell people that you want to produce Bahamian entrepreneurs and businessmen and then in a stroke of a pen you pull the rug out underneath them."
Mr. Wrinkle said he believes there is a serious disconnect between the politicians and businessmen in the country. He said while incentives for growth d not necessarily have to be tied to a budget, they should have been included.
"The fact that we don’t have adequate incentives in place is reflected in the way they address the budget. They have not looked outside the envelope of revenue stream. It appears that they had a list of the revenues and they went down with a pencil and ticked off which ones they thought they could increase and generate more revenue stream from the taxes," he said.
June 9, 2010
jonesbahamas
Subscribe to:
Posts (Atom)