Barbadians Are Homophobes, Xenophobes, Too Passive And You Can Add Too Emotional To The List ~ Neal & Massy And Ansa MaCal Should Tell Barbadians The True Reason They Want To Acquire BS&T

In recent months whether it has been about the concerns about illegal immigrants, the acquisition of our best companies by Trinidadian owned companies, or the debate on declining morals, Barbadians have had to endure the labels. The most recent label has come from Douglas Skeete and Colin Brewer. They both believe now that the plan to steal BS&T from Barbadians by Neal & Massy has been foiled; the emotionalism which was evident by Barbadians has been replaced with a willingness to evaluate in an unemotional way the business proposition on the table. In other words, Brewer and Skeete want us to believe that BS&T Barbadian shareholders should only be concerned with the company that can guarantee the best return on shareholder equity__and they are right according to the text books!

If Barbados were a large market, Barbadians could ignore the multiple acquisitions of choice Barbadian companies by Trinidadian companies.

To support their argument they outlined the view that BS&T should not be described as a flagship company because there are better performing companies in Barbados. The other point which both Brewer and Skeete agreed on was to observe that many BS&T shareholders have held stock for 20 and 30 years. The two statements obviously conflict. Why would BS&T shareholders hold BS&T stock in a “poorly managed” company for so long? Something does not add up.

Is there another PR stunt being pulled on Barbadians?

BU can forgive Colin Brewer and Douglas Skeete because they are both accountants and they are both trained to look at numbers. If we were the goodly gentlemen we would not be so hasty as to disregard the emotionalism of Barbadians. Barbadians have had to live with yet another label, that of being a passive people. So to witness the outpouring of emotion which Barbadians have been consistent in showing about BS&T board room immigrating to Port of Spain should be worrying. Several years after a similar sale of Barbados National Bank (BNB) Barbadians continue to voice anger at the one that got away.

We sense that Barbadians in the case of the BS&T acquisition is willing to put up a fight.

We agree with Messrs Brewer and Skeete that now that the dust has settled the scrutiny which BS&T finances will now undergo will probably result in a more accurate BS&T share value. Let us not forget that Neal & Massy had offered shareholders $5.50, the last time we checked the closing price on the Barbados Stock Exchange had reached $7.50. In fact Neal & Massy has now pushed its offer price upwards to $7.20. We note that Ansa has now increased their offer bit to $8.00 and the Brewer led consortium, playing spoiler, has pushed their offer to $8.25. In fairness to Neal and Massy they have offered the additional option for shareholders to take cash and Neal & Massy shares. The current scenario being played-out forces BU to ask if Neal & Massey expected other players to enter the ring. If they did not then our original accusation stands, they were trying to steal BS&T. If they were expecting other companies to challenge for BS&T why would they start the bidding price so low knowing full well that the climate would be hostile to the deal?


To learn what works in M&A, McKinsey interviewed executives at some of the most acquisitive US companies and compared their different approaches to acquisitions with their performance in the capital markets. We found that companies whose deals reaped long-term rewards use M&A to support strategy, not as a strategy in itself. They seek acquisitions to supplement their capabilities, but since they know how hard it is to import a business’s superior know-how, they also pursue targets that would benefit from their capabilities and expand their scale.

Trinidadian companies are swimming in cash, marry this to the political stability and calm financial markets of Barbados and T&T companies will continue to beat down our doors. Is it fair to conclude that T&T companies are executing a plan to acquire companies in Barbados because they have idle cash on their accounts? We have inserted the table above to offer food for thought. We are interested in the top two goals which USA executives listed as the keys to successful acquisitions.

In the case of the current BS&T merger BU humbly suggest that the transaction does not qualify as a strategic fit if we use the findings of the McKinsey survey. Food for thought!

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9 thoughts on “Barbadians Are Homophobes, Xenophobes, Too Passive And You Can Add Too Emotional To The List ~ Neal & Massy And Ansa MaCal Should Tell Barbadians The True Reason They Want To Acquire BS&T

  1. “Barbadians have had to live with yet another label, that of being a passive people.”

    But Barbadians are passive… if they were all that emotional, where are the placards? Who is organising the protest outside BS&Ts offices? WWWho’s organising the march on Parliment in protest?

    Barbadians are some of the most passive people in the Caribbean… I know that one day that passivity will vanish in a moment and the stunning action in Barbadian society will rival the Clement Payne riots, but check its been almost a hundred years since then, and I seriously doubt BS&Ts current woes is going to be the straw that broke the camel’s back…

  2. ndelamilko~there was a time Barbadians would not even discuss these matters in public. It is changing. We may not protest like the Jamaicans or other who do so more forcibly but we are are trying to in our own way…see the signs!

  3. this is supposed to be free press yet u edit coments and talk bout banning peoples ids if so its not free press anymore its controlled press !!

  4. I wish it was all business. I would have no problem with it then. Huge American companies were being gobbled up by foreign interest namely the Japanese, and now Chinese getting into the mix. American workers are the ones who suffered most. In Barbados the Trinidadians gobbled up BNB, ICB, Wibisco and the list can keep going on. Slowly they integrate Trinidadians into the system and Bajans slide out silently. We are suffering the same fate as the bigger and more powerful Americans. We stood silent for too long and now we can’t stop the Trinidadian freight train. We have poor laws and too much loopholes in our system. The gubbermint calls it foreign investment and are all for it, especially if a handout is involved. I always said Arthur would sell Illaro Court if he got a good offer for it.

    Common way of thinking in Barbados is simple. I rather get a statement from my bank saying I have 4 million dollars in savings and the little interest accumulating rather than seeing Barbadian business remain in Barbadian hands through my investing some of my money in local business. So much Barbadians have so much money and not much of them even know how to acquire shares or anything about the Barbados Stock Exchange. It is evident that the Trinis do and they are reaping the benefits and the fruits of our labour now.

    This is a little drunken rant right now but what I would love to know is, if a Barbadian company had to bid to take over one of the trini giants how would it go over? Would the Trinis let us come in and take over one of theirs? They don’t even want us to fish in their waters, but we take everything from them, imports killed our manufacturing sector, they gobbled up all major insurance companies and the local bank, they bought all the good cheap real estate and turn it into high priced developments, they already killed one of our past homebreds in Plantations, now they going after shipping and trading,. Eh eh wanna better be careful or what Errol Barrow said would surely become the truth. Strangers!

  5. Given the fact that we talk so much about the Trinis taking over, what are we Bajans doing ta help ourselves, to help our companies. Can we really blame the Trinis for often searching/taking opportunities as they present themselves, when we here never seem think out of the box but always look for ways to bring down other follow man.
    I must ask, don’t you all find it curious that every company or governmental institution that Mr A. Fields finds himself always have problems?

  6. Buiz you asked a question that is extremely valid and answered it with your opinion about Mr. Fields.

    But let me take it a little further. Barbadian Industry is doing what it has done for years “doing business” and “serving” Barbadians while making a profit. Trindadians are crossing the Ocean and taking them over. What are Bajans to do?

    It is like the foreigners taking over the land. How do you stop it without laws?

    Globalization, Free Trade etc are all fancy words for this nonsense. But what is the difference or advantages to anyone when a successful Bajan business is operating succesfully but is taken over by a foreign company and continues to operate successfully?

  7. Fellow bloggers I am taking a time out because I see things too much differently than my fellow brothers and sisters. I am an eccentric and call things like they are and that tends to p—– people off! That is the last thing I want to do because we need to be United not Divided!

    Owen Arthur and his buffoons are probably sitting at this very moment as I type this having a fine libation of their choice and saying look at those foolish bitc—–es that have nothing better to do but talk, talk, talk bare sh—te but accomplish nothing. And he is right!

    What is happening in Barbados is like a boil on the ass hurting like hell and causing all kinds of problems. But until it is lanced or the proverbial bread poultice is put on it and it is drawn completely including the the core the problem will remain a pain in the ass forever.

    When people fail to see the reality of what is really going on in Barbados and call it like it is which will then awaken the senses of even the timid nothing will change. And the have nots will remain the have nots! They have been have nots now for decades as a matter of fact longer. What is that saying? God helps those that help themselves well it has never been more appropriate for the masses of Barbados to heed that saying as it is now. Trust me!

    Let me say this if things are as bad as the people say it is in Barbados and which the FACTS I think support that they are, all they need do when an election is called is turn out in masses and vote Owen out. But here is how I sadly see it playing out AND I HOPE I AM WRONG!

    Owen will let us vent on these blogs for all we worth but when he calls the election unlike the DLP he is going to have nuff Saudi, Pemberton, Williams et all dollar bills in the campaign chest to do what he does best. lie, mek promises he has no intentions of keeping, promising the poor and old people the Universe and brugadown he back in for 5 big ones. And then the blogs gine hum with even more nonsense!

    Anyway do ya best and what ya think is best cuz I run out of ideas other than convincing people to vote and keeping the truth in front of their eyes. But it seems the truth does hurt!

  8. Many Bajans may not realise but BS&T was set up to fail by it’s many levels of management .This would have allowed Neal & Massy an easy takeover but Ansa Mcal blindsided all of the parties with their bid.

    Mr Fields is much more involved with Neal and Massy’s bid than he will ever admit.

    I totally agree that Owen would sell Ilaro Court if he could.He has already sold everything else to the highest bidder.

    Can you imagine that foreign nationals cannot buy property in Bermuda under that is not in the several million dollar range yet we have Bermudans coming here and buying property.

    The Barbados Government seems to be the only one which isn’t trying to preserve the the country for it’s citizens.

    They are selling out every piece of land and profitable business and now we are trying to put non nationals on the electoral list.That way we won’t even be able to voice our opinion with an “X”

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