The ignorance continues in Barbados
Agyeman Kofi
The Sparman Clinic is in today`s Advocate seeking permission from Immigration to hire a non national as a marketing Rep. Barbados is adrift in the sea of ignorance
  Like · · 7 hours ago via BlackBerry ·

Trina Daniel and 3 others like this.

Raquel Gilkes Laughs maniacally…
7 hours ago · Like · 3 people

Rodney Kirton vast ocean
7 hours ago · Like

Agyeman Kofi Why are you laughing? This a serious insult when we have so many Marketing Reps even with Masters. How can we find out the requirement for this post
7 hours ago · Like · 2 people

Rolandson Lynch If the climate didn’t facilitate it, neither he nor his establishment could have done it. So its really the gatekeeper(s) of our labour mechanism facility (practice & policy) that is adrift in the ocean of ignorance (masking itself as liberalism).
7 hours ago · Like · 2 people

Raquel Gilkes I am laughing because if I doan laugh, I gine cry
7 hours ago · Like · 4 people

Rolandson Lynch well laugh na, dat is ya mouth gal.
7 hours ago · Like

Joel Howard Maybe the job isn’t paying much. Based on what I have gathered from a couple former workers, he pays cheap. Maybe the position will be fill from down south.
6 hours ago · Like

Curtis Murray i with ya on this one kammie. i saw this ad about a week ago and just like raquel i laughed to myself. but the real reason i laffed is because we will still do business with sparman and all de others who will refuse the give locals the better paying jobs.
6 hours ago · Like · 1 person

Raquel Gilkes Yup!
6 hours ago · Like

Nikita ‘Keetz’ Swann Maybe folks don’t like to hear a Bajan accent…foreign ones sound MUCH better…riiiiiight….
6 hours ago · Like

Max Skeete Barbados has a number of persons with qualificaitons in marketing and are out there looking for work. I wonder why the Immigration Dept. always grant permission to fill such posts. Are the bajans too dumb to fill those positions?
6 hours ago · Like

Rolandson Lynch Bajans are not dumb at all, just passive. We will chat and keep noise in private but public is another story. The reasons for such are vast but the compelling one to my mind is some of us have being politically compromise. Therefore to engage in overt action will lead to consequences we prefer not to deal with.
6 hours ago · Like

Agyeman Kofi Its amazing how our politicians are so compromised by political patronage that none are motivated to speak out. What is really going on in Barbados?
6 hours ago · Like

Angela Fergusson The answer lies with Bajans, we need to sort these situations out! The main reason is an attitude challenge! Sometimes we know too much but not enough of small things. We need to work on “Giving Great Customer Service” also interpersonal skills should be at a higher level! I must say there have been some positive changes in the last little while! Please know, I am not brushing everyone!
6 hours ago · Like

Agyeman Kofi Are there no honorable men around willing to put country before friends and self. Let’s not be sidetracked with personality attacks. Many of the ministers read these post so do let them know you hold them in trust to do the right thing. Always use you vote wisely its leverage
5 hours ago · Like · 2 people

Khati D’Souza If I had any love at all for Guyanese ppl, I probably would have told him hire me but I don’t and it not going to come in a hurry based on past experiences in my life…..AK : Ignorance have no cure. Why can’t he go and find someone on the list who graduate in marketing from UWI this year and let them do the job. Brain drain……
5 hours ago · Like · 3 people

Mahalia Francis Please excuse the pun but there is so much —- going on in the Island, it is really becoming very atrocious . What the heck are these people thinking. So many Nationals leaving College and UWI and he is thinking of asking for permission to hire a non-national, this is really crazy, bajans pls wake up and smell the coffee. The majority of them are literally fleecing our nation.
about an hour ago · Like · 1 person

Mahalia Francis Kofi in one of the comments someone spoke about an attitude challenge, but let me say that last Friday I went into Cave Shepherd to purchase some gifts for my co-workers, the experience was great. I needed some additional t-shirts for gifts, so my sister took me over to SY Adams, after choosing the t’s I went to the cashier to pay, she looked around and shouted “come over here” I turned to my sister and asked her who this woman was speaking to, I then asked the cashier who are you speaking to, she replied,”you”. I then said to her “,please when you are finished with the other lady, cash my items and then I will speak with you”. Well I kindly explained to her that this is my home and my navel string is buried here, if this is the way that you speak to the people in Barbados, you should be ashame of yourself. She didn’t want to cash the items, I insisted, after the transaction,I explained myself to her and allowed her to know that I have staff working under my supervision & that I wouldn’t even hire her for any position, she has poor customer skills. Another non-national from Guyana of the Indian race in Barbados insulting and being rude to the general public. OMG, I will travel home every year, but I will never shop there again. That cashier was rude,indecent, abnoxious and dispicable, very poor customer service.This kind of behavior should never be tolerated.
31 minutes ago · Like

Simone Alleyne But what can we, you and I non-politiicans and moneyed-folk, really do eh??????????? Respond to the Immigration Dept? First thing that will be asked is, what are your qualifications? Do you fit their requirements? Did you apply? Ten to one your objection will be overthrown for whateverflimsy excuse they come up with and you will then be branded a trouble-maker…..Barbados is a small island and despite what any sanctimonius poppet likes to claim, victimization happens! The solution has to come from the policy level!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Areas that we have NUFF manpower in like Marketing, like Construction, like nursing, and on and on, should be identified as non-work permit fields. And I am not only talking about the lower level jobs in these areas but all the way up to Managerial level because it is the highly qualified citizens of Bim who are hurting most with this *@#$%! Then, other areas where the country is weak in qualified manpower should be given the status of conditional work-permits, i.e. work permits will only be given for 2 years in these areas and a Bajan “apprentice” MUST be hired and MUST be trained in the relevant area with the view to take over at the end of the work permit. This means that the Immigration Dept will have to come out of their air-conditioned fiefdoms and go out in the field on a monthly basis to ensure that this is being enforced, working closely with BIMAP, UWI or SJPP….OMG! Actual work! Cut out all of this crap about trying to run people who have been here for long periods of time out of the country, that is just wrong and from a MARKETING and PR point of view sends a dangerous message to the rest of the world. Say that as of November 1st this is how the awarding of precious work permits will be handled AND ENFORCED. Those who are already here will in effect “get away” provided that they are legal and actively contributing to various aspects of our country and society. However, I do not hold out much hope for this policy suggestion to be considered, refined or implemented cause reallly from where I sit as a fedup, out of work, marketing professional with an equally fed up construction professional husband, too many palms getting greased, too many people is friends with too many big-ups and no one really cares unless it is actually impacting their personal household!!!!!!!!!!!!!!!!!!! JMO!
11 minutes ago · Like

David King We dealt with Sparman a while ago and was accused of trying to keep bread from a black man’s mouth. He has friends in high places which explains how he has been able to operate here given his murky background, get a license for ‘equipmen’t to carry around when many born and bred Bajans struggle to etc.
2 seconds ago · Like

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Under a recent post (I don’t remember which), Bush Tea said he wondered what Inkwell thought of the NIS situation.

Bushie, I shuddered at the thought of the work involved in putting my thoughts into words, but I also knew I had a responsibility to make the effort. Fortunately, I have been rescued and all I need to do is reproduce the article written for Caribbean360 by Peter Boos and published on October 13th. Peter Boos speaks for me and for every Barbadian, whether they contribute to the NIS fund or not. His article makes for compelling reading and since I suspect that Barbados Underground has wider readership than Caribbean360, his views should be propagated here for the benefit of all…with David’s permission, of course.

BRIDGETOWN, Barbados, Thursday October 13, 2011 – Having witnessed the ups and downs of the Barbados economy for 41 years it is clear that the current crisis is certainly the worst we have experienced in that time, with no easy victories in sight and lots of hard slogging and tough choices yet to be made. Importantly, the current international environment in developed economies is expected to continue for a few more years, and to be characterized by slow growth and high levels of unemployment. The October 2011 report from the Central Bank of Barbados confirms this assessment.

We can all agree that these are tough times and Government has difficult choices to make. It is the job of all citizens to help get the country back on a growth path by being more innovative, productive, competitive and confident.

Recent disclosures that the developers of the proposed Four Seasons project have made an application for financing from the NIS Fund have surprised many. Even more surprising is the indication from Government this should and will happen, seemingly as a matter of course.

No doubt there are many potential benefits of having a commercially viable, self-sustaining Four Seasons Hotel in Barbados, and few reasonably minded people in Barbados would want the project to fail just for the sake of it. This would simply not be a defensible position to take.

Nevertheless, the fact that we are in a deep long term economic recession should not lead to a relaxation of the legal and socio economic principles governing the manner in which the NIS fund is allocated and invested. On the contrary, I am of the firm view that it is precisely in times such as these that the integrity of a fund in the nature of the NIS fund should be most jealously guarded. The fund is not a commercial or development fund. It is a social security and pension fund, which should, for obvious reasons, be invested on a conservative basis to meet long-term liabilities.

“The people of Barbados are the owners of the NIS fund.”–Peter BoosSome may recall that CLICO failed essentially because it strayed from sound investment management practices as mandated in the law under insurance regulations, and took on several speculative investments, which eventually it could not support financially. Looked at objectively CLICO and the NIS have something very important in common: CLICO derived and the NIS derives large volumes of cash from insurance premiums, pension contributions, investment income etc. As a corollary to that, the people whose money was held by CLICO and is held by the NIS were/are depending on receiving the benefit of those funds. In many cases those funds are the only savings and retirement planning provision made by such people.

Against this background some important questions arise on the appropriate use of NIS Funds by Government.

How should NIS Funds be invested? What are the Investment Guidelines for NIS Funds and who sets them? What are the powers of any Government to mandate how these Funds may be invested?

Recent announcements indicate that almost 70% of NIS Funds are lent to Government. On what terms does the Government borrow these funds from the people? Sovereign debt crises in Europe and the USA should be sufficient warning for Barbadians that Governments too can default. At the end of the day, it is the taxpayers who have to make good any shortfalls, and it is they who are at risk if their future social security needs cannot be met.

In the recent 2011 Budget presentation [concerning] Government’s Proposed Strategy to Reduce the Deficit in Line with the Medium Term Fiscal Strategy (MTFS) the following statement was included:

“Designing of a borrowing package from the NIB to three statutory entities (UWI, Transport Board, BTA and Needhams Holdings ltd) to allow for financing of $110 million during the course of this financial year for specific aspects of their programme. This will address the level of current transfers made to these entities from government but allow for greater flexibility to do more to stimulate the economy. Servicing of this debt will however be provided for, where necessary in the Consolidated Fund”.

Is it appropriate for Government to essentially use NIS Funds as a bank for its funding needs? The precedent set in 2011 is a very dangerous one. This is essentially window-dressing so that our debt to GDP ratio and fiscal deficit are artificially made to look better in order to satisfy the rating agencies and other interested International Agencies.

We do not have published information on any of the investments held by the NIS at this time. Why not? These Funds belong to the people. It should be remembered, at all times, that the people do not have the freedom to consider all of their financial planning options and, if they like, choose to allocate some of their money to the NIS, on the basis that the NIS is the best, safest or most rewarding investment. Not at all. The people and their employers are obliged by law to make monthly contributions to the NIS Fund. Ironically, in the world of optional investments, one can examine a plethora of information about a prospective investment, before deciding whether or not to invest. In the case of the NIS, to which payments are mandated by law, the reality is that no meaningful information has been provided to the people for a number of years.

Looking at the deployment of NIS funds into the range of possible investments as desirable as it is to have a Four Seasons Hotel in Barbados, should NIS Funds be invested in that way?

There are many other equally pressing national economic needs. Innovative solutions for the south coast tourism product, food security, expanded broadband connectivity, alternative renewable energy, niche manufacturing, economic diversification for exports (e.g. international medical services, arts/culture, international education services etc).

So why the Four Seasons?

Is this the role of the NIS? Is the NIS now to be a development bank with all the associated risks?

The CLICO failure is primarily as a result of speculative, risky investments of policy holders’ funds. Many people have lost their entire investments and pensions, and the Barbadian taxpayers may yet have to carry the burden of its shocking demise. Consequently, the climate is such that there is widespread fear and concern that the NIS fund, which seems to be the only substantial fund left in the country, and which is a public pension and social security fund, may be risked as well.

We should not invest scarce national savings managed by Trustees on behalf of the people in a way that is not within the NIS mandate, without open and full disclosure, within published and approved investment guidelines and subject to management according to rigorous governance procedures.

The fiduciary responsibility of the Board of the NIS includes the obligation to invest the funds they manage, on behalf of the contributors, in a manner which will ensure stability of its investment portfolio for the long term to meet its future pension liabilities to contributors and other beneficiaries.

I am informed that the NIS manages $3 billion in assets and has surpluses of $30M a month; and some are aggrieved that the commercial banks take advantage of this by offering low returns on deposits. However, given the current economic climate, it cannot be expected that returns will be generous. This much is clear and acceptable. To swing to the other side of the spectrum and posit that NIS funds should be invested in risky real estate developments, in the absence of the highest level of scrutiny must be a breach of fiduciary duties owed to the people of Barbados. Given the nature of the fund, the investments would be safer with the commercial banks since the principal would be safe. The assertion that the NIS fund is in surplus does not, in the absence of meaningful disclosures as to the state of the NIS fund, justify investment in risky ventures.

Indeed in the circumstances it is understandable that people are asking: is this proposed investment not just another way of NIS lending money to Government through a ‘fronting arrangement’ to pursue its development agenda? If it is, then the investment should be categorized as such. At least then the investment would be a Sovereign Liability and of potentially greater value to NIS beneficiaries. Should the investment fail, what then? Unless the Government is willing to issue a guarantee to the people in respect of this use of the NIS fund, there is no acceptable answer to this question.

Peter N. Boos FCAManagement and use of NIS Funds should be separate and distinct from Government’s funding needs. This really is the issue. Does Government determine the investment policy and choices of the NIS? Does it have the authority to do so under the law? More and more we see Government essentially regarding the NIS as a source of funds to finance Government’s operations. This is a dangerous course because even the wisest, most well-intentioned of Governments is not infallible.

The public have become increasingly concerned in the past year or two about this, and the current Four Seasons proposal is a cause of deep concern for many stakeholders.

The argument in favour of NIS funding of this project is that, in these recessionary times, Government has to support development projects in order for them to gain impetus. However, Government support is one thing, while, given the social security nature of the NIS fund, expending it for the proposed purposes is quite another. Put another way, Government support for a project should not automatically translate into depleting the NIS fund simply because this is the only fund of real cash remaining.

The people of Barbados are the owners of the NIS fund. As such they are they entitled to full disclosure including:

most recent unaudited financial statements (to 30 June 2011 would be acceptable)
2010 audited financial statements as soon as possible
access to most recent approved audited financial statements
current list of the components of the investment portfolio totaling $3 billion
the investment guidelines of the NIS Fund
the governance policies of the NIS Board
the powers of the Minister of Finance as regards NIS investments.

Once these disclosures are made, the proposal to invest NIS finds into the Four Seasons project can be fully and fairly evaluated. The writer is not opposed in principle to that project or to investment in it, if the project is viable and the investment is structured in a fashion that will not put every Barbadian taxpayer at risk of having to “pick up the pieces” if things fall apart. The writer also does not advocate the disclosures highlighted idly or out of mischief. Indeed one of the reasons why the disclosures would be so welcome is because while the reality is that there may be nothing to hide or obfuscate, the prevailing absence of total transparency creates the impression, bewildering to the country, that there must be something to hide. Dispelling these fears through full and ready disclosure would give people more comfort in the context of the investment of their life savings into development projects generally; and an understanding of how this particular investment into the Four Seasons would be structured, especially as regards protection of the people’s funds and mitigation of their risk, would help to persuade us all that it is in fact a compelling investment, which serves the best interests of the people who have worked so hard to generate the NIS fund.

Peter N. Boos FCA

NIS Pensioner and Economic Commentator

Hell NO! just another bail out. The Government needs to back off and protect the people first. Four Season is a Private industry let them seek funding elsewhere . Why is the government always so “GongHo’ at using the taxpayers money to help these ailing enterprises. Let Four Season find funding elsewhere and leave the people social secrity alone.As for the government they need a good kick up their behind for even entertainting such a reckless thought in these hard economic times.

The Four Seasons Project has lost credibility.

The government must know it is walking a tightrope on this one.

Dear Mr. Prime Minister and Mr Snickler…Leff wee fcking NIS alone. Wunna allow Clico to THIEF and get away wid it BUT NOT wee NIS. Dis is wee money wee wuk hard fuh and was forced by law to contribute to. What de hell yuh touching it fuh without wee permission. Tek wunna stinking cheesy fingers off wee money.

@ Inkwell
Thanks.

Is the bushman to conclude then, that you agree that all the current investments of the NIS should be made public and that the accounts should be up to date as specified by law -or that the Board should be dismissed in preference o a Board that can at least meet that basic standard?

If you agree with Boos (and the Bushman rarely does), how would you classify the recent decision of the NIS Board to SELL it’s shares in BL&P? Would you not have thought that it was an opportunity to hold or even further invest in such a critical (and well managed) Company?
…as opposed to this apparent headlong urge to invest in Persaud when no one else sees any future in his three seasons?

For what it’s worth, if you had any sway, would you fire the Chairman?

Bush Tea,

You said that you rarely agree with PB, but you haven’t said whether you agree with him on this occasion. What’s there to disagree with? Every Barbadian is a shareholder in the NIS and has a right to details of its investment portfolio. And I don’t think that you disagree that the NIS ought not to be risking the people’s money and long term social security in highly speculative ventures as Four Seasons is, given the current world economic climate.

Now, I don’t know to what extent the Board takes policy direction from the minister, but, I would hope that the members’ integrity would weigh more heavily on their actions than the privileges of a pick on a Board. Today’s press statement by the Chairman shows the current status of the financial statements, but that doesn’t help us any with information on the investments and whether or not Government is misusing the fund as the opposition claims.

I know the chairman and though he can be a pompous ass at times (well, most of the time) he is well meaning and I give him the benefit of the doubt in his claims of effort and progress in getting financials to the public. He is a career banker after all and the necessity for timely financial statements is ingrained.

In the matter of Government’s L& P Holdings investment, sadly, the Government had little choice in the matter. The need for foreign currency far outweighed any thought of holding on to a solid investment for the long term, not to mention the considerable capital gain the sale achieved.

This government is behaving as if Bajans are either asleep or have become illiterate overnight. First , we are to be satisfied with a ceremonial leader as prime minister. then Barbadians must admire and have confidence in a government that continues to associate itself publicly with the former president of a company whose dealings have brought, and continues to bring immeasurable pain and suffering to thousands of Barbadian policy holders and their offspring; some of whom will vote in the next elections. Moreover,a man like Jeptor Ince, who morning after morning influenced Barbadians to put their hard earned savings in the Clico Balanced fund and other term plans knowing full well that the company was not in good standing is still closely aligned and advising this government. I wonder how many Bajans really listen to him?
We have missed the STRONG, CONFIDENT and POWERFUL prime-ministers. It is time for a new order of which the population can be extremely proud and confident.

@ ST
“….because we are soon to be uplifted to BBEland, so stop your fretting…”
————————-
But in your case ST, I would fret!!
-…..about to see your life savings evaporate before your very eyes….
-…seeing your retirement savings being converted to finance four-season luxury villas (to join the already existing empty ones we have).

Much like your last week at school, you choose to concern yourself with the chaos and uncertainties of “end-of-school-life” realities, while Bushie is focused on starting that exciting career with the Big Boss Engineering firm….in BBE Land. LOL

…let’s see who has the last laugh OK?

@ Inkwell
ST is largely right about BT.
Why realign the deck chairs on the Titanic?
….the issue is really the general lack of principles, disregard for honesty and not caring about others that has come to exemplify our society.

Even when your friend manages to get the accounts up to date in December, and even if the NIS performs remarkably well…. Will this address our real problem?
With respect to the L&P holdings, when we have reached the stage where it makes sense to sell the family farm to foreigners for 20 pieces of silver, -only to have to rent it from them at their price, so that our children can eat; we know that we have reached our lowest moral point.

It does appear that the current Board is making progress in addressing endemic lapses in accounting and reporting….

…. guess they think people will forgive them at election time.smh

In today’s Sunday Sun the police are investigating the illegal activities of Clico under the leadership of Leroy Parris where 800 policies were sold after they were warned to stop selling these policies by the Supervisor of Insurance in 2009. Since he is seen regularly in the company of many elected officials and a FRIEND of the PM will justice prevail? If criminal acts like these are allowed to continue without prosecution, the whole insurance business can be seen as a scam. Government will be seen for what they are … criminally minded and to associate with the likes of this former head of Clico. is blatantly telling the public that certain people are above the law in this small country. This also shows the world what a corrupt society we have.

Today’s Nation and Last Night’s Barbados Today carried a story that a decision will soon be made on whether or not to prosecute top CLICO executives for disobeying the orders of the Supervisor of Insurance re. selling of EFPA’s. I wonder if anyone expects that to go in any direction other than to ignore the SOI’s order. However, If the unexpected happens and cases are brought, it will be interesting to see how it is dealt with in the current legal dispensation.

@checkit-out

If we had FOI we would have seen how if any correspondence passed between the late PM and former Chairman of Clico Holdings on his reference that he consulted with Thompson.

A very bold and serious statement which has never been pursued by the media.

David eff you is a Bajan you done know dat dead men tell no tales so unless Parris have a tape recording wha he say DT tell he doan count.

Anyway if this saga ends up in court Lawyers in Barbados and Trinidad will make millions over the next 10 years as per usual.

@Hants

You maybe correct, we will have to wait and see however if he has signed docs now that will be an entirely different matter.

Maybe we are splitting hairs because the written policy is evidence enough.

Peoples I went to Brumley the school for dumpsy children but didnt all the infelicities of CLICo and Parris evolve and take root under the Arthur administration. What we are witnessing is the affect not the cause. Any court case and I wont mind seeing Parris in front of CJ Gibson must include the mouthy Permanent Secretary Layne and the Ministers he reported to in the 14 years See Thru ran things. Back then is when the rubber hit the road. After 2008 you talking about the effects of CLICO’s previous 14 years of infelicities.

So that the issue is not whether CLICO breach the SOI order it is more about who was complicit in the decision.

If it was a criminal act to “breach the SOI order”, there is no defence of said act.

If the PM tell you to lick down somebody wid a big rock you gine do it?

The Law is the Law.

http://www.nationnews.com/articles/view/clico-stay-bid/

@Checkit-out

Wondered the same when the statement was published, he could have stated the matter will be pursued like all other matters. There is a naivete how we seek to prosecute people in Barbados which supports the view that they are all in it together.

@ Anthony:
“Seem they would always have money to pay lawyers but not the policy holders.”

As person (based on your contributions) with more than a passing knowledge of the world of finance and accounting and their interface with business law you should have already come to a conclusion regarding the outcome of the CLICO tragedy. This terminally ill cash cow has been the source and sustenance of the largesse extracted by greedy executives, beggars of alms for political campaigning and parasitic ticks passing off as providers of professional services. Even on its dying bed it is being administered morphine paid for by the continuing premium contributions extracted by threats of being written out of the will even though the estate is full of encumbrances and tied up in litigation ad infinitum.
The only parasites who would be benefiting from prolonging the pain and wanting to see the clinically dead cow kept in a comatose state are those who fees are deducted upfront from the trickle of financial sucrose still entering the drip bag of policy premiums.

When it is finally allowed to remove the life support systems and pronounce the cow dead, the cost of this terminal care along with the undertakers’ fees would be so astronomically high as to blow the top off the gullible policyholders with many of them potentially suicidal and joining the long queue waiting to enter the gates at Black Rock. Nothing but bones would be left when the accounting and legal vultures are through with the carcass.

actually forcing the premiums still to be paid is the only the kept clico from doubling over itself. That provide the cash flow so parris could get some of his “gain” which he should go to jail for

http://www.trinidadexpress.com/news/GITA__I_KEPT_US_5m_CHEQUE_IN_MY_DRAWER-134094729.html

@ Checkit-Out | November 19, 2011 at 8:03 AM |

You will not see any serious investigation at this end.
It will be interesting to find out if the appropriate income taxes were paid on these huge bonuses and consultancy fees received by the various local executives. Well if the Duprey’s chauffeur in T&T was paid such handsome amounts one can wonder if LP is a tad jealous knowing that he was not the only “favoured” boy.

It would be interesting if the JM could disclose this kind of information to BIPA about tax deductions and payments to the local IR. We certainly are not going to get it because of the lack of FoI and Integrity legislation.