est. 2007

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Financial Meltdown, How Would It Effect Our Fragile Investment In Four Seasons?

Submitted by Old Onion Bags Greece’s political leaders struck a historic deal Thursday to make deep cuts in government jobs and spending to help save the country from a default that could shock the world financial system. Greece needs the bailout by March 20 so it will have enough money to redeem €14.5 billion worth…

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Submitted by Old Onion Bags

Greece’s political leaders struck a historic deal Thursday to make deep cuts in government jobs and spending to help save the country from a default that could shock the world financial system.

Greece needs the bailout by March 20 so it will have enough money to redeem €14.5 billion worth of bonds coming due. If it doesn’t make that payment, it will be in default. Financial analysts fear that could set off a chain reaction similar to the financial meltdown triggered by the collapse of investment bank Lehman Brothers in the fall of 2008.

What would be the implications should the worse happens? What about our already fragile investments in Four Seasons? Shouldn’t we be more prudent and at least wait for the March 20th deadline before swinging another cent . Make “cents” to me, what do you think?

15 responses to “Financial Meltdown, How Would It Effect Our Fragile Investment In Four Seasons?”

  1. old onion bags Avatar
    old onion bags

    @ David
    Thank you for the consideration.
    Yes I do believe we should await another 4 weeks to see if Greece defaults and the ramifications to the investing world, before we do anything else with Four Seasons.

  2. St George's Dragon Avatar
    St George’s Dragon

    So Greece is making “deep cuts” in public sector jobs?
    They are headlined as cutting 15,000 jobs. On the basis of population, pro-rata to Barbados, that would mean 375 jobs cut here.
    I don’t see that as as being deep cuts.
    The NIS has been strong-armed into supporting Four Seasons. Nothing happening in Greece or anywhere else will change that position.

  3. Visionary Avatar
    Visionary

    @St George dragon
    The NIS has been strong-armed into supporting Four Seasons. Nothing happening in Greece or anywhere else will change that position.

    What is sometimes in not what should be. Should financial markets take another plunge….Four seasons will hit rock bottom.The losses would be enormous. Could we here afford to lose that $60 million ? Why not follow prudent investors and wait it out?

  4. old onion bags Avatar
    old onion bags

    Good point Visionary…….
    Take the $$$ and put it into agriculture if you don’t know what to do with it.
    World predictors also talk of a FOOD SHORTAGE…time we start preparing.

  5. St George's Dragon Avatar
    St George’s Dragon

    @ Visionary
    I do not support the NIS investment in Four Seasons. It was clear that the NIS Board did not want to invest either and were pushed into doing so. In my view their original position was the right one.
    My point is that nothing that you or I say now will change the position.
    If Greece goes down, that will provide (part of) the excuse why the investment made a poor return. It will be “unforeseen circumstances”.

  6. observing Avatar
    observing

    So, ammm…. Persaud is now a marketing, public relations, feel good 4 Seasons ambassador too????

    http://news.barbadostoday.bb/barticlenew.php?ptitle=Season%20of%20plenty&article=14199

    Seems like somebody struggling to make a case even though a decision has already been made…. and really, is it his job to do this? or is it the government who is spending our money????

  7. Bush Tea Avatar
    Bush Tea

    @ observing

    Who would you prefer to owe…?
    1 – a Russian Billionaire
    2 – Bajan tax payers

    ….Dat poor man probably not sleeping at night until the NIS cheque deposit….

  8. Observing Avatar
    Observing

    lol @ Bush Tea.

    True that. Everyone deserves a good night rest.

  9. David Avatar
    David

    Here is a BBC report which reads like a horror story.

    http://www.bbc.co.uk/news/world-europe-16979285#TWEET75704

  10. old onion bags Avatar
    old onion bags

    @ St George Dragon
    My point is that nothing that you or I say now will change the position.

    Am I missing something here…What is it that the Dragon knows that we blogger don’t ? Are you on the NIS Board or what ?Why would you say that so adamantly ? Even if we were going to lose the money are you saying ..its still a GO ?..come clean Dragon.

  11. bgky Avatar
    bgky

    It will affect our system for sure!

  12. old onion bags Avatar
    old onion bags

    Please somebody anybody…..tell me why so many people could be so BLIND.
    The question begs, what else is there that we are missing ? Why are these people hell bent on throwing away good money ?What about the IDB don’t they read the blog? I hear they have $160 million on hold .. waiting to be released.

  13. PRETTY BLUE EYES Avatar
    PRETTY BLUE EYES

    @Old Onion bags like many people on the street we are ignorant to the many ramifications going on with four Seasons. I believe it is a worthwhile cause the problem that the government has at this moment is that they cannot say much to the public since this is what the new devlopers are demanding even the well know barbadians sitting on the Board cannot say a word because the boss want it like that. Next thing take my word the Greece bailout is not going to affect Four Seasons plus what is happeining in the Eurozone is not going to last forever the Euro is going to comeback stronger than ever. The investors still owe Four Seasons money they are not going to walk away and leave the money that has been deposited behind, look at it this way if you had deposited 30 – 70% on s home would you walk away. All partners involve must play their part the new developers can foot the bill if push come to shove. And last but not least, it is a Korean Billionaire of Russian descent not a Russian,

  14. old onion bags Avatar
    old onion bags

    @ Pretty Blue
    Next thing take my word the Greece bailout is not going to affect Four Seasons plus what is happeining in the Eurozone is not going to last forever the Euro is going to comeback stronger than ever.

    What kinda new simpleton you must be.The new developers are demanding wha…pardon my ignorance but….You expect to run that hogwash by a MBA…? Have you ever heard of transparency ?And a Greece bailout would not effect Four Seasons ? You got me laughing now, anyway ….you carry on smartly.

  15. old onion bags Avatar
    old onion bags

    Least we for get the dead line set is March 20th
    update:
    ATHENS (Reuters) – The Greek government rushed on Tuesday to wring out another 325 million euros ($428 million) in budget cuts to satisfy euro zone finance ministers mulling whether to sign off on a rescue package to save the country from a chaotic default.

    Squeezed between skeptical European capitals and deep anger in Greece, political leaders must also produce written commitments to stick to the terms of the 130 billion euro ($172 billion) bailout before the ministers meet on Wednesday.

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