
On 27 April 2013 Barbados Underground (BU) posted the blog Who Are the Local Partners in Cost-U-Less?. Although the Prime Minister of Dominica Roosevelt Skerrit has denied the word making the rounds that he is a local shareholder, BU defends our right to ask questions of Skerrit or anyone in the interest of providing clarification.
In the interest of providing further clarification it should be noted that the Companies Act Cap 308 places sole responsibility of managing the company in the hands of the Directors. What this means is that unless a shareholder choses to be a Director the public is left to speculate who are the shareholders. The Act is drafted to protect the Shareholder who – if not a Director – has no say in the conduct of the company.
BU reiterates our position taken in the original blog, in the interest of transparency the other names mentioned (Hartley Henry, the Estate of David Thompson and Leroy Parris) should state publicly whether they have an interest in Cost U Less (CUL). The government has approved significant concessions to CUL and given the names mentioned the public has a right to know. It should be noted that Pricesmart has since denied receiving similar concessions. Also at the time of launch it was widely reported that David Staples represented local shareholder interest. Perhaps in the interest of protecting its goodwill CUL should make a public statement stating who are the local shareholders.
This report has generated a lot of interest in Dominica and across the Caribbean. Prime Minister Skerrit’s denial was carried in the Dominica News Online. BU notes also that on the 5.30PM Voice of Barbados (VoB) news of 7 May 2013 a report on Skerrit’s denial was carried. Interesting to BU was that the VoB report made no mention of the source of the report. It’s reference was to a Barbados ‘website’. It is no secret that ‘the blogs’ and traditional media in Barbados do not represent one love. However, we believe that in the interest of accurately reporting news the traditional media has a right to maintain the journalistic integrity of the Fourth Estate. The irony is that if the website was not a blog or even if it was a blog in ANOTHER country the name of the ‘website’ would have been mentioned. Members of the BU household cannot boast of being presented with the latest Blackberry from LIME or VIP tickets to functions etc. In other words we have no obligation to be soft when blogging on any issue.




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