Advocacy Director of Future Trust Barbados Kammie Holder has requested BU promote the following advertisement, and we do so gladly. We take this opportunity on behalf of the BU household to extend congratulations to Kammie […]and the hardworking team at the Future Centre Trust. We also pledge our unswerving support to the cause and will…
Advocacy Director of Future Trust Barbados Kammie Holder has requested BU promote the following advertisement, and we do so gladly. We take this opportunity on behalf of the BU household to extend congratulations to Kammie […]and the hardworking team at the Future Centre Trust. We also pledge our unswerving support to the cause and will continue to assist in any way we can.
@Alvin Cummins September 28, 2015 at 6:07 PM #
@RastaR,
What was the owner of Ridgemount’s profession? BASED ON DUE DILIGENCE’S REPORTS HE WAS RESPONSIBLE FOR LEVERAGING at Goldman Sachs in New York and also Hong Kong. Leveraging is a legitimate part of stock trading. Isn’t this what Massey did when they won the bidding war against Ansa McAl for the purchase of BS&T? Isn’t this why they sold off Almond? It was all part of the trade off.
According to Due Diligence, she used 800,000 of the loan to pay off (or down) her mortgage, so she at least has that amount of equity. One does not have to be an accountant to understand this. How could she then be a pauper, and/or penniless?
You people throw terms and phrases around just for the sake of besmirching people’s character. Avenue Road and Yorkville, is one of the most expensive pieces of Real Estate in Toronto. And what do her tax returns show? Most interesting of all is how Due Diligence was able to obtain from CRA the details of an individual’s “confidential” (not in the Bajan context of confidential; whereby everybody knows) returns. Hope the RCMP don’t investigate or some one will be in real serious trouble.
Alvin, do a Google search on “Alex Iscoe” to confirm that he was an Associate Leveraged Finance with Goldman Sachs and before that an Analyst – Leveraged Finance at CIBC World Markets.
Alex Iscoe is the Principal of Ridgemount Group Ltd. We do not know that he is the “owner” of Ridgemount FS Limited, but that he is the “Director” of Ridgemount FS Ltd. In my earlier comments I assume that he is the sole shareholder, but he may be a nominee for other(s)who are the beneficial owners.
Unit 4803 at 50 Yorkville was transferred to MECC (she bought it) on May 17, 2013 for $6,524,245.
On September 21, 2015, there were two mortgages registered against the property.
A first mortgage for $4,000,000 to Home Trust registered May 17, 2013, about 60% of the purchase price.
A second mortgage for $1,500,000 to Ridgemount FS Ltd. registered on November 27, 2014.
It was another poster (RastaR I believe) who said there had been an $800,000 second mortgage on the property to Cameron Mortgages which was repaid/discharged from the proceeds of the new second from Ridgemount.
DD does not know the date the $800,000 mortgage was registered/advanced sometime between May 17, 2013 and November 17, 2014; nor do we know how the proceeds were used. A guess would be that it was used to secure or repay the 200,000 UK pound loan from Liz Spencer in the UK. It could have been used to reduce the first mortgage, but it is not likely she would take on a second with a much higher rate of interest than the first; unless she was in arrears with the first and Home Trust was threatening to go power of sale. Or it could have been used to pay consultants fees of finders fees relating to the WtE contracts.
Avenue Road and Yorkville is (indeed) one of the most expensive pieces of Real Estate in Toronto; but if a property is leveraged to the hilt (to or above its market value) the owner could be (using your words) a pauper, and/or penniless.
Finally it was NOT Due Diligence who was able to obtain from CRA the details of an individual’s “confidential” returns. They were submitted to BU by another contributor, with much greater sleuthing skills than DD, who has to rely on publicly available information, and first saw them here.
@DD,
We obviously have very good sleuths on BU nowadays. Funny they only became “vocal” within the last couple of months. Where were they so many months ago (going back pre 2008) when there was need for real agitation when the country was being downgraded, money from the sale of Barclays to CIBC was not being placed where it should have been (check Chris McHale’s revelations etc, etc. ), even though “detractors” would want to question his “sanity”.
Anyhow, it does not matter at this stage. We all know what happens when sharks get in a feeding frenzy.
Town Planning permission is not needed to obtain satellite photos of Barbados. Google Earth will supply good pictures with excellent definition; even closeups of any part of Barbados that is needed.
@Mocking bird.
“Potable water Clare knows nothing about technology in this space.”
Do you??
@Alvin Cummins
Why don’t you advise why your name is mentioned in the Cahill email scam? You have lived all these years to allow your reputation to be tarred? What is your relationship with Tim?
@David
You really don’t get it yet. Which part of a pretender and little deceitful worm that you do not understand is Alvin Cummins.
What Alvin needs to explain is why is his name being mentioned in the Cahill email leaks.
Alvin you need to retrieve your name!
The the design of the WTE plant should be carefully reviewed given the very real threat of
EARTHQUAKES.
David
You asked Alvin why his name was mentioned. Can I answer for him? Alvin rushes in where angels fear to tread.
It is not original, I only had to substitute his name in the original quote and use the third person singular of the verb.
@David September 30, 2015 at 11:59 AM #
“What Alvin needs to explain is why is his name being mentioned in the Cahill email leaks.
Alvin you need to retrieve your name!”
I do not pretend to speak for for Alvin; but here is my guess.
Alvin Cummins posted on another blog said he was at the September 14 court hearing. As I recall he said he left the court room when the lawyers for MECC and Ridgemount left, and later posted this in another blog.
“Alvin Cummins September 15, 2015 at 12:55 PM #
@David, Mocking Bird, and Piece under the rock et a.,
GOTCHA!!!
The only person who knows I gave the Defence Lawyer my card was the Lawyer for Ridgemount, because he and the defence lawyer were the only two persons there, talking to each other…….”
So, after following the lawyers out of the court room, he gave his card to the defense lawyer while they were talking outside the court room. (for reasons known only to Alvin)
My read is that the defense lawyer, Tim Gleason, contacted MECC, by phone or text, immediately after his conversation with with Ridgemount’s lawyer to advise her of the outcome (adjourned to another hearing on September 21); and asked who is this Alvin Cummins guy who gave me his card?
MECC then fired off her September 14 email to Gleason at 11:44.
Alvin should tread more carefully to protect his good name,
@Due Diligence,
Those who are questioning my motives should read my submissions carefully. The same way you read them, you think they have not? They are only being malicious.I have nothing to fear. As I told the lawyer for Ridgemount, when he came over and introduced himself to me, and he wanted to know my interest in the case, I told him that I was there as an observer, because anything that was of interest to Barbados is of interest to me.
I always try to get my facts first hand, not based on what others say; what better place than in the courtroom. I have nothing to hide, so why should I not go in there boldly.
Why are so many people so interested in this particular case? Can’t say the same thing occurred with Greenland. Is this going to happen every time an investor, or group of investors try to invest in the country? What is so special about this particular case? We had an invitation from the Sanitation Service Authority for tenders who wanted to express interest in a BOLT arrangement ( to Build Operate, Lease, and then Transfer) a Waste to Energy Plant, since 2010. I posted a copy of the original advertisement, but people seem to have ignored this , (which explains why people still have queries about the invitation to tender.)How many projects has Government advertised for expressions of interest that have generated this much interest? Why? How many potential investors have had their Income Tax returns so intensely scrutinized, and their intentions subjected to such minute questioning? Why?
Has the so called professor, associated with the Future Centre Trust, had his bone fides examined? What is his interest in Barbados? Who are his supporters? How has Kammie gotten so involved with him? Are these not legitimate concerns? What is good for the goose is also good for the gander.
@Hants,
Has the design of the plant been revealed yet? How many earthquakes have we had in Barbados in the last fifty years, and what have been their magnitude? Don’t you think that any mechanical engineers involved in this project would be aware of these things? We have got to be the most condescending people in creation.
@Caswell,
How is it that you never went to Law School?
@SSS,
Oistins Users Committee!! Nuff said.
@DAVID,
I should clarify that it was at the court hearing the week after (Sept. 21) that the lawyer for Ridgemount came over to me and introduced himself. Lest there be any confusion as to when the introduction was made.
@Alvin
And you felt you had to mention BU? Are you sure a rukus was not raises about Greenland as well led by Richard Goddard. You are something else! R
” The centre’s director, Dr. Joan Latchman, in separate interviews with the media in Barbados and Trinidad over the weekend, said a big earthquake is likely going to occur at some point “
David
Not only Richard Goddard but Lennie StHill as well and they had their day in court too!
Did Alvin the only spook seen,go ver and offered up his card?Or as he would have us believe,he was sought out by the lawyer.Either way what is this old timer shuffling his way downtown for.Was he a stand in to proceedings for the 4 musketeers,Darcy,Denis,Dennis and stinkliar?The DLP,the embarrassment of Barbados since 2008.OSA says worse medicine to come,Stinkliar confirms it in today’s news.
,
@Gabriel
Leave Alvin alone, no doubt he welcomed the opportunity to shed his trusty short pants and sandals 🙂
@david
Poor Alvin seems to be bi polar summer spent in the north winters in the south
That’s why he’s confused where his loyalt lies or is it he just lies .
And for clarity its the civil /structural /geotech engineer that tells the mechanical engineer what seismic or coefficient of acceleration equipment needs to be designed to and as I’ve said before months ago. The plasma gasifer and its monster syngas outlet ductwork is the most vulnerable area of design in term of seismic support and HAZOP analysis.
Hence my term “time bomb” Alter NRG won’t guarentee the safety of the gasifer and will pass the
Liability to who ever takes the EPC contract
That risk is enormous and will be passed down the line to the people living in the shadow of the monster .
Gabriel,
I cannot say I was surprised when I heard the Stinkliar today……..nothing they do surprises me anymore.
OSA flushed him out when he dropped the bombshell on the weekend that 5000 more workers will have to go home. If this mass layoff plan is imminent, he had no choice but to admit the inevitable.
Is it not ironic that a man who is presiding over such mass layoffs after promising that not one worker would be sent home…………..is now saying that Barbadians are going to have to become entrepreneurs and provide jobs for themselves.
Hey, Stinkliar……..set the example, resign and stop effing this country and become an entrepreneur yourself.
But wait, were we not told that this economy has been stabilized and is on a growth path?
With JA’s like the minister, we can really understand why Clare Cowan was able to juck out their eyes and by extension, the taxpayers.
I still would like to know what is it that these four jokers got out of that deal!
Alvin Cummins why are you wasting your time and energy with these “superior dunderheads”they believe beyond a shadow of a doubt they score some kind of “victory” when the truth of it all which is as plain as having a nose is that removing one finger does not remove the arm. there is still the nagging and worrisome question that these dunderheads want remove once and for all that of having a WTE plant any where in barbados
Therefore all this yakity yak and garble annoyances to them matter as a” cause” which they perceive as a plan which would destroy the govt credibility sending a stern message and with the inevitable collapse of all or any intentions or participants past or present ever thinking or entertaining the thought of ever having a WTE plant barbados
Take note that nothing else outside that of a terminology of sending their own version of a “message over the past month have been discussed even the environmental issues or the technological aspects which are necessary and important to this issue has taken a backseat replaced with a seasoned and hardened bustle to destroy and convict and condemn any or any one who dare came close to having details or in near sight to the project ‘Yourself included.
Bear in mind the desire and willingness to protect their interest supersedes in their asinine mind and reigns supreme above and beyond what is in the best interest of Barbados
Having said all of the above the can was kicked down the street , However govt must not recoil or renege on its promise to the people in saving high energy cost and reducing garbage ,which too is a high priority on the environmental list of “things to do” and must not quiver or sway and leave to chance in terms of long term effects which include increasing financial cost as a fallout from the overwhelming negative effects that unfiltered garbage can be of burden to on society
It was only recently that barbadians got a close and personal look experiencing firsthand some of the riveting effects and the resulting damage of rodents and smell of garbage which was left unattended for weeks forcing them to cry for quick action .Where were the environmentalist then? did they sound the loud and vocal voices against such interference that would risk the health and life of a society . NO? go figure
Govt intentions to act upon or to implement fast and quick action as a solution must not be derailed or impaired by a few self serving and disgruntled people who sees a WTE plant as a hindrance to their financial progress
@Prodigal, you know obviously that Sinckler and the others did not get their eyes juck out in the least. Unless that is the juck one gets from rubbing one’s eyes after looking at the balance on a recently opened bank a/c.
And that whereas people ride jackass or donkeys and make them their beast of burden here it’s the people who are being ridden as the beasts bearing the tax and unemployment burdens.
We are clearly the JAs as we allow this riding to take place at will.
Just putting in perspective.
AC
I remind you that the DLP is notorious for managing waste in Barbados.It was during the last DLP administration of the 80s/90s that the term Mt Stinkeroo was introduced to Bajans compliments of the late Jack Leacock.The ministry was headed by Brannie Taitt and the stench from Mangrove was overwhelming.The member for St Thomas David Simmons was a thorn in the side of the DLP and when they were turfed out it was the same David Simmons that was able to restore peace and quiet at Mangrove and provided the management of the facility that made it a success story in succeeding years.
Similarly during this time the BWA was properly managed by Nicky Sealy who had put aside millions of dollars to replace leaking mains,only for Sandy to raid the BWA bank account in the late 80s and we are paying the price today for Infra, an insulting african and a corrupt minister to cause horrors to bajan businesses and households in the delivery of that necessity of life, water.When a pipe burstes…prophetic words that have come to haunt bajans,being punished for having the worst government in the history of this country.They can’t manage anything…neither Water,Garbage,Finances,Transport,Poverty Alleviation,Foreign Direct Investment,Education,Debt Servicing,Care of our Young,of our Disabled,Pensions Rights,Employment Opportunities,our local Investments in Clico and Baico and the list goes on…….This minority government is for the DLP inner circle of opportunists formerly known as the Fatted Calf.Ask Clare if you doubt me.Ask Alvin if you doubt me.Ask Bjorn and Philip and Mark if you doubt me.
@ Gabriel you need a double dosage course in morals and ethics less you forget that under the fourteen year reign of the blp when financial reservoir was overflowing Nothing was Done to correct any of the said problems , Further more in one of the auditor generals report the report was highly critical of the mishandling of funds attributed to monies for supplies /supplies which were for repair and to replace important water lines which was causing major leakages such supplies were never received but was being billed to the BLP govt
Yes Mam/Sir you do need a double dose in moral and ethics , Your Poor dispensation of occurrences top short of the truth,
Gabriel September 30, 2015 at 6:33 PM #
“AC
I remind you that the DLP is notorious for managing waste in Barbados.It was during the last DLP administration of the 80s/90s that……..”
ac October 1, 2015 at 5:18 AM #
“@ Gabriel you need a double dosage course in morals and ethics less you forget that under the fourteen year reign of the blp when…….”
Gabriel & AC,
Despite the fact that the two of you approach issues from different perspectives, the one common thread that binds the two of you together is your genuine interest and concern for the welfare of Barbados.
Independent thinkers can easily detect the approach that you are using.
Gabriel, and others, have been telling us that Barbados experienced some bad things for 7 years under Erskine Sandiford, and some worse things for the past 7 years under David Thompson and Freundel Stuart.
AC, and others, are telling us that Barbados experienced things that were just as bad, or worse, under 14 years of Owen Arthur.
However, the thrust of the argument on both sides seems to be: “Hush yuh mout’ do. Whatever you accuse my side of doing, I could bring enough evidence to show that your side is just as bad or worse. So you ain’t saying ‘nutten’.”
In mathematical terms, here is the argument you are presenting:
14 years of damage to Barbados under Owen Arthur – 14 years of damage under Erskine Sandiford, David Thompson, and Freundel Stuart = 0 discussion (an argumentative draw).
Of course, this argument is absurd.
I know that both of you are loyal Barbadians. I know that both of you are telling the truth.
Given what I know, I can now present your arguments in mathematical terms:
14 years of damage to Barbados under Owen Arthur + 14 years of damage under Erskine Sandiford, David Thompson, and Freundel Stuart = 28 years of damage to Barbados.
The question, for both of you and all Barbadians, now becomes:
How much more years of damage can the small, open, brittle, and vulnerable economy of Barbados endure before it collapses totally?
Please note that I have not used DLP or BLP in my writing. The DLP and BLP are simply the names of institutions, and so they can never, ever hurt a Bajan or Barbados. Erskine Sandiford, Owen Arthur, David Thompson, Freundel Stuart…..well that’s a completely different matter.
The BLP and DLP are two parties with no differentiation in philosophy. Any differences in the parties is a function of who is the leader and the intelligence of the players at play in the moment.
So Prime Ministers are in facto or de facto Dicktators.
Incorrect spelling may or may not be intentional.
No i disagree! there is a philosophy that attracts an individual to any given political party with a heavy reliance on a psychological curve,
The term yardfowl which is so widely use to described a party loyalist can be attributed to those two factors the necessary ingredients that holds ! binds! and attracts the interest of an individual to the party of choice, ( maybe entrenched in the mind for the purpose of keeping balance)
In reality the politics although seemingly important is not the most crucial and distinctive role that plays out , The politics by itself can be defined by several causes or at times by forces in our out side of the party,
But the philosophy is the real key which forces the individual to embrace! Accept ! or to believe in the leader or a party of choice ,
The blogmaster invites you to join the discussion.