millertheanunnaki (May2012 or is it June2012)

Don’t you and SCOUT ever get tired talking foolishness?
It is clear to me that you have way too much time on your hands!!!!!

@ Carson C. Cadogan | November 28, 2011 at 4:31 PM |
We are basking in the fruits of our labour earned under the BLP days of Prosperity and good times when unemployment was very low and foreign reserves were as high as your tourism numbers. Jealous?
But we are prepared to come out of retirement to save our country from its inevitable disastrous economic ICU stay if the dlp continues to be the doctor in charge and keeps looking over its shoulder for IMF instructions.

Look, CCC, speak to the issue of tourism and crime. Remember the old mantra about crime in Barbados and how a dlp administration would bring it under control. Sounds like the mantra of: Cost of Living, Cost of Living, Cost of Living now turned to the High Cost of Living and even Dying!

Take that! I am prepared to offer my PR skills to the dlp to utilize the time on my hands but you would have to let me know which horse you are backing: FS or CS?

@george

I will answer you for carson, that is why the govt wants to see the project resatred in order to create employment for the people and how about that.

@uneduacated

The subject at hand is questioning the transparency in how decisions are being made with OUR money. To suggest the only reason is to create jobs is nonsense.

@ Business Man

It is neither the role or the mandate of the NIS to negotiate with private interest and put at risk our money. High risk projects that promised so much and have delivered so very little to date appears extraordinary. The national interest is to safeguard our futures with our money and sound investments.

@George

Regardless to which party governs Barbados we have to live here, some of the supporters will suck the sweets, but the majority will not.

I hope that in your classes to your students that ethics is one of the subject as i note on another stream you are encouraging people to break the law. When the dlp had erected the bill boards, it was chief town planner to give them notice to have them removed or torn down. consequently, housing must have the lady removed from the house.

@Uneducated

Did Michael Lashley or any of his Cabinet colleagues evict Arnie Walters from the illegal position he held at BWA? Who paid his salary? Who owns the BWA? Was his position ever created in and according to the laws of Barbados? Maybe you should become a student of mine; you will learn to anticipate if nothing else that life is much more than a one way street.

@ George C. Brathwaite | November 29, 2011 at 7:42 AM |
“Did Michael Lashley or any of his Cabinet colleagues evict Arnie Walters from the illegal position he held at BWA? Who paid his salary? Who owns the BWA? Was his position ever created in and according to the laws of Barbados?’

With that knock out punch I don’t think you will see “uneducated” back on his feet again in regard to this topic. He has lost all credibility.
Good for you George! But we are still waiting to hear your boss man on the marina exposé. Has his investigative ship floundered off Speightstown?

Goerge your comments suggest that you have no knowledge of the NIS’ investment profile over the years.

So you are happy for the project to go into bankruptcy and private investors feed on the carcass at bargain basement prices after a lengthy legal process plays out? Or should the NIS be part of a consortium of investors where the major player is the largest development bank in the hemisphere.

The private sector in Barbados is risk averse and when you combine with the fact our economy is public sector led there you have it.

Additionally the private sector in Barbados has always in the view of many pro BLP. The BLP has we know is bent on building out the economy on services. Arthur and Mascoll are on record as stating the cost of inputs in the agri-sector is too high.

Exactly what strategies are being employed by the private sector to transform the Barbados economy?

To my mind our so called business class has largely lived off government largesse. Big projects like Kensington, judicial complex, and real estate development. In the current environment both are trouble due to no fault of our, and the business class does not have a clue as to what to do (except goddards and anutomtove art maybe).

Well no, they know what to do. beat up on a weak government that they not too keen anyway. Once they speak, they know they can get the rest to move with them.

the more things change, the more they remain the same.

Since when peter Boos cares so much about the NIS, where was he when a lot of other investments were being made like a loan to CBC for digitization that never happened, a loan to water authority for mains replacement that never happened, a large investment in fund access and enterprise growth fund, where was he.

he and his kind were at the centre of national policy, on all the boards etc., he had nothing to say.

our poor rakey media has asked no questions of the private sector.

They only have strength for government, civil servants and unions.

But remember, the media is part of big business.

We black and poor people are sop naive, it should be amusing.

It does not matter if the input cost in agri-sector changes if there is not interest to begin with by the private sector.

@David and BU Readers

Something to consider.

1. Is it not true that in recent months the NIS made a decision in relation to how persons would receive their pensions, and by popular resistance the decision was overturned and the CEO was moved to another organisation?
2. Is it not true the the Cabinet of Barbados, for the most part, comprise elected representatives of the people and should therefore heed if not follow the public sentiments on the matter of the NIS funds and Four Seasons?
3. Are they any other institutions that are state owned or majority controlled that can back this loan or make the investment that many Barbadians are weary of the NIS making? Namely, The Central Bank of Barbados or the BNOCL since the utility of energy would have to be a consideration for any major project such as Four Seasons and thus it has stakeholder interest?

I know that I am a fool, but unless answers are forthcoming from the GoB, then we contributors to the NIS, taxpayers, Barbadians are left to speculate and voice our opinions even at the disadvantage of not having all of the relevant information. Full disclosure, transparency and accountability must go hand in hand with any attempt by the NIS or the GoB to use the funds in the manner being contemplated.

George, take a business lesson from me please. Forget this crap abot why private money is not coming in, and that it should be left to private money.

Private investors would not inject 30ml us into Four seasons at this point. Sensible private investors would wait for the project to go into bankruptcy and then seek to acquire the property at bargain basement prices, after all debts and so on have been resolved as part of the process.

Why would he go in now and in effect help the IADB rescue the project, when he could wait let the thing crash, have the pleasure of seeing his rivals fail and then pick up the pieces later at a low price. I think you academic types do not understand business.

That is fine for a businessman, is that delay of years in the legal jungle in the best interests of the country.

Miller, I think you are missing the point. We keep joining the chorus of those beating up on government, while giving the private sector a free pass. the microscope should also fall on the captains of industry.

In the absence of a booming property market or government largess, they seem hapless, and we seem content to let them or even join them in their only solution (change the government) while leaving the underlying problems and issues unresolved.

I just read a great book “the fortune at the bottom of the pyramid.” the book essentially argues that there is a fortune to be made by producing consumer goods and other services targeted at the poor. That approach is now being adopted in the US, UK, germany and other advanced economies as consumer incomes shrink and people are more conscious of their spending choices. For example, many supermarkets are now selling store brands of many cereals and such, instead of the big name brands, and cen sell these at 30/40% lower.

Where are the innovative responses from the local private sector, even at the retail level?

What example must the government set in agriculture?

@Businessman

You wrote: “I think you academic types do not understand business.”

With all due respect Sir, I was never considered to be one of the academic types prior to 2004. Howl old am I? How close have I been to business, either in terms of ownership, managerial/supervision, or I daresay investments?
I am not purporting to have all if any of the answers, but I am sensible enough (though you may disagree) to suggest that there has to be more than meets the eyes, or more than what the government and stakeholders are saying. Would you join me by asking for full disclosure and an articulation of all possible scenarios before that NIS colludes with the Cabinet of Barbados or any other entities to do what many persons are uncomfortable with doing? What about democracy and voice of the people, should that be discounted in times of market convenience?

@ Business man | November 29, 2011 at 1:05 PM |
“I just read a great book “the fortune at the bottom of the pyramid.” the book essentially argues that there is a fortune to be made by producing consumer goods and other services targeted at the poor. ”

What kind of businessman are you, though? A “poor class” or” poor-rakey” one? (LOL!!- just using other contributors’ pseudonyms)

So you had to read a book to know this? The so-called local private sector is made up primarily of this type of parasitic business (import, mark up and sell- easy profit making here; very little risk). If you were a man of the street you would also notice that itinerant salesmen of East Indian descent have become millionaire shop owners and real estate barons from the same trade in selling poor quality consumer goods to poor people in Barbados.

Business man | November 29, 2011 at 2:17 PM |
“Ansa Mcal has put in 60ml already (admittedly with a government guarantee)”

But business man, this is not money going forward!
This is money that has been mostly spent to settle old debts and pay consultancy and legal fees.
Since you admit that this loan has a government guarantee can a financial account of the various disbursements be made available to interested parties?
Some of us out here might just have a US $ 10 million to invest and would like to see what has gone into the project before.
But it is noticed how you keep sidestepping the role and status of consultants to this project.
Again, how can you expect the NIS to invest millions of its members contributions and taxpayers to be legally responsible for guaranteeing a US$ 60 million loan with nothing to show and don’t expect government’s decision and actions to come under the spotlight?
I wish to agree with you that the “over-greedy” actions of the private sector are principally responsible for the present state of the economy. But come on, government cannot go scot-free here. Let’s take the local scene as an example: Both administrations have borrowed too much money given the country’s very risky and tenuous dependent engines of economic activity. A crowding out of private capital and dampening consumer spending through heavy taxation are fiscal actions that have put a serious drag on the economy. Link that to unbridled public expenditure resulting in a massive and growing current account deficit and you are looking at a cocktail for economic crippling and a long-term hangover brought about by inept fiscal and monetary management.
You should always look at both sides of the economic equation to find a solution to the country’s economic ills.

@ Business man | November 29, 2011 at 5:07 PM |
“I am s simple liver and I do not get into these personal issues around consultants.”

These consultants are being paid from our Treasury! Who do you think have to repay that loan? Aliens from Mars?
As a business man don’t you believe in getting value for money? Would you continue to engage the services of a person who does not produce or add value to your business but only bullshits every time you ask for results?

What is required is a mix of IADB, NIS, local private sector investors and, if possible, foreign private investors -can even be from China- to make up the investor consortium.

“What better partner for the project than our leading development bank?”
So the NIS is not only the government’s piggy bank but also a development bank?
So what about taking over the Almond Resort business? What’s your view on this one?

@Businessman

Teach George about logic and reasoning, i hope that he teaches his students logic and reasoning, i will give him a d for his inductive and deductive arguments.

@Uneducated

The Lord is truly good and merciful. Exactly why I praise the Lord each and every day for all his blessings upon me and this country called Barbados. Maybe you are right in your appraisal of me, but then again, suppose that you are dead wrong? Either way, it should not make a difference to you how I get by in life, should it?

Bear in mind Arthur is the greatest proponent of CSME and the influx of T&T business’ into Barbados was unleashed under his watch. Note his position and that of his party has not changed. Get use t it.

@ UNEDUCATED | November 29, 2011 at 6:08 PM |
“as for you miller, it is clear this is the only happiness you get, blogging so i forgive you.”

You got to be joking!
I am a gardener!
But like you I also get engaged in extra-blogging activities such as imbibing alcohol, lighting up up like Techie, visiting the strip clubs on Fontabelle and other parts of town’ picking fares and watching blue movies.
And the whores tell me I am a better man and woman than you. They say you are not only short with your cash but short andquick in other important assets needed to please them.
Hope you like the little ribbing. Just to show you I am a man and woman of many talents! (LOL!!)

@ Artaxerxes | November 29, 2011 at 8:47 PM |
Well argued!
You could also mention that the sale of majority shares in a nationally strategic and very profitable utility, i.e. BL&P, occurred just recently.

If the four seasons gets built it should open around 2014. I have to believe by then that there will be some improvment in the global economiuc outlook.

I would like some of the money to stay in BIM and not leave to outside investors. We have to believe in ourselves. Why should the public of Barbados not invest in our major industry, tourism, and get some share of the luxury pie as well?

The project is only asking for 30ml us you know, why the need for all this large consortium.

You all complain about foreign ownership but don’t want the NIS to invest in Four Seasons

We want to go to heaven, but we don’t want to die.

The four seasons debate shows me why nothing transformative gets funded in barbados, we only want to invest in sure things.

I wonder how thgis group would have responded to an investment in apple in the 1908s.