GEMS

Adrian Loveridge

Submitted by Adrian Loveridge

What are the functions and objectives of an independent Senator?

During the time the late Sir John Stanley Goddard sat in the Senate he repeatedly called for up-to-date financial statements for Hotels and Resorts Limited to be made available. After all, it’s a majority Government owned company funded by the taxpayer and surely we have a right to know their current fiscal position?

I understand that HRL’s accounts have now been laid in Parliament for the subsequent years since 2001, yet why has there seemingly been no Senate debate, discussion or public comment?

Losses for the GEMS project have been quoted at anything from $200 to $400 million, and as yet, no analysis has been in what part in the closure of over 30 private sector hotels over the last fifteen years they have played.

9 comments

  • Whenever GEMS is mentioned BU can’t help but bring JAWS to mind, made famous by the former DLP Leader of the Opposition, former Junior Minister of Finance of the BLP and now ex-MP.

    On a serious note, the government should be interested in debating this matter. It would help to bring closure to a matter where overspending is suspected.

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  • Closure David? GEMS is a gravy train and this Governemnt will want to get some too.

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  • The government must know this is an issue which will comeback at them in the build-up to the next election.

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  • David while you are trying to get Gems to produce their financial report, you must try and get the Government to force Clico to publish their last financial report too. The law required that it be published since April this year.

    Barbadians are pumping millions into this ponzi scheme at Clico without any real hope of reclaiming this money. Clearly this Government, rather than solving one problem is creating another one. So this Government has no moral authority to speak about Gems.

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  • Parliament will be meeting tomorrow after a week on vacation and an earlier nine weeks on recess. One would have expected that the Order Paper would have contained some serious business for parliament to consider, especially in the light of the precarious nature of the economy. But oh no Parliament will meet at 10 am sharp and be asked tomorrow to consider two amendments to the Health Service Act, Cap 44.

    The first of the amendments will see the deletion of a full stop at the end of a paragraph and be substituted with a semi-colon. The second amendment will see the insertion of a small paragraph to protect minors from tobacco smoking.

    There is also a supplementary, that under the previous Government was treated as routine business. What a busy state of affair in this Government.

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  • Royalrumble

    We need to get clico to release the 2008 financials for the following companies

    1. clico balanced fund
    2. clico general insurance
    3. clico mortgage and finance
    4. clico life insurance

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  • It is amazing the same late release of financials continues under the new government. Is there a problem the public should be made aware?

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  • Question to the media:

    What resources does one need to remind the public many of our state enterprises and others are breaking the law?

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  • Maybe we should ask Hartley Henry aka WIV, political advisor to Thompson and the DLP to come on this blog and explain this sad state of affair.

    This matter has continued to fester even though the IMF and other rating agencies have expressed strong disapproval in the manner in which the DLP is handling this dirty Clico affair.

    Right now not even the flimsy assurances from the PM can satisfy me that this matter is not an economic disaster waiting to explode in the face of the tax payers of Barbados and that Barbadians will lose the millions invested by this DLP.

    Like

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