M&A Activity on the Increase

cable_and_wireless-webGood GOSH Man! De last few days have seen nuff M&A activity hitting close to home – Ambev or Ansa for Banks, a question of the lesser of two evils? – and it seems like we aint dun yet!

With the M&A of Flow/[…]Columbus/CWC/LIME/

Whatever still fresh in our collective short term memories (remember we Bajans forget easily)  it now seems that CWC itself may be a take-over target for the Liberty Global group.

Read full article @Barbados Aboveground

82 comments

  • Is every thing in Barbados for sale?

    I would like the ac’s to say what is today’s headline on the front page all about?

    Lying bastard, the PM is……there will be no privitisation under my watch. Lo and behold, they are selling the Caves. What will you incompetent dems do when they is nothing left to sell?

    And I believe that just like the morons give away the rest of the BNB shares…….they sold them at less than they were really valued……….they are so cash strapped that they will sell the Caves for whatever they can get……………..even if the price is not right.

    Miller, your words have come true……….you are a prophet.

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  • The study of the Caves by Dr Robinson and Dr.Corbin has been made public?

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  • It’s just a matter of time before the Grantley Adams International Airport (GAIA),Bridgetown Port,The Queen Elizabeth Hospital,The Psychiatric Hospital, District Hospitals, the ABC Highway and Barbados Transport Board are sold to foreign buyers ! Scary !

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  • Well Well & Consequences

    Don’t know who is going to want to buy the Transport Board, they would have to be getting it for free, no equity left, too much liability.

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  • Would Barbadians consider buying back or acquiring businesses that are “essential services” ?

    Start with BL&P Emera and Flow,CWC.

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  • My black Brothers And Sisters of Barbados , please take a look at the face of the PM, and the Ministers of Barbados and you will clearly see that they are the reincarnation of some callous black people who sold our ancestors in Africa , they action and behavior (greed ) of governing Barbados from 2008 to today have clearly showed what reincarnation could be,it seems as if the pack of like minded persons have a short time to destroyed Barbados before the devil recall them

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  • Well Well & Consequences

    Hants..? They really have no money to repurchase shares, etc, they should not have sold them to begin with, but they have the sell everything mentality, sell the people, sell all the taxpayer’s properties, sell their souls, sell their asses, sell, sell, sell…until they have nothing left.

    That is the stage in which they have found themselves.

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  • Spare a thought for Mexico.

    Patricia is the strongest hurricane ever recorded.

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  • @Well Well,

    Have to criticize your blog to Hants. Commodities; houses, shares, carrots, sugar, are to be bought and sold. That is why they are, or should be, purchased in the first place.

    Bajans have the money. It was reported in the newspapers; around june or july that Bajans had over 8 Billion dollars in savings at commercial banks and almost 4 Billion dollars in Credit Unions and savings societies. That is why the Central Bank issued its Bond sales, that were quickly bought up. The people do not have a practice of determining when to take their money out of savings and put it in investments, or a history of putting their money into shares, and by following the trends in the stock market, when to sell those shares and make a profit. The smart business persons do. They also do not have a history of understanding when to keep their shares and when to sell. Shares in commodities etc are to be traded for more profit. Persons with shares should sell when the price has reached the optimum price. You will always have compaNIES, WITH MORE RESOURCES, WILLING TO ACQUIRE THE SHARES OF COMPANIES where they can make bigger profits. In instances likeCable and wireless/Flow, the government could not have done anything about the purchase of Columbus, because the share purchase of Columbus, by CWireless, was outside of the jurisdiction of Barbados. Flow is a subsidiary of Columbus. The Banks purchase is outside the purview of the Barbados government. It is a private company, traded on the stock market, and under the control of Massy. (See the connection of Ansa and Massy again?} Bajans have the opportunity to make a lot of money by buying up the shares, but they will not be able to prevent the purchase of the company by the foreign companies.

    @Prodigal, I would refer you to the letter that Republic Bank wrote to share holders of the “remaining” shares that because they (Republic Bank”) were in possession of 90% of the outstanding shares, they (the share holders) were obliged to sell the shares to Republic Bank. This included shares held by the Central Bank. How much money was spent on the Caves again? Is it losing money? Why should the Government keep it again? Can you compare the Caves with the Barbados National Bank? Remind me who sold the Barbados National Bank, and why.

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  • Alvin Cummins October 23, 2015 at 4:24 PM #

    “Bajans had over 8 Billion dollars in savings at commercial banks and almost 4 Billion dollars in Credit Unions and savings societies.”

    That being the case then these institutions should start a massive campaign to lend money to small businesses.If this society is to transform to a 24-7 setup it would make sense to start looking to invest this money now.Barbados needs to stop pandering to the idea that the biggest employers should be the large companies.24-7 operations can create many niche businesses for small people with prudent investment if we are serious about creating a culture of entrepreneurship.

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  • The BSE cannot be compared to NYNEX, Alvin knows about what he ‘speaks’.

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  • Well Well & Consequences

    It’s the small businesses, not the large ones, that actually keep countries afloat….so, now what Alvin, now that everything or nearly everything has been sold, what is the next move for the present government.

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  • To answer Alvin’boots’Cummins,the DLP blind follower,OSA sold the shares in BNB to put the funds into a rebuilt Hilton Hotel.He also offered the shares to bajans in frequent press statements which I heard,

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  • Hants October 23, 2015 at 2:20 PM #

    Would Barbadians consider buying back or acquiring businesses that are “essential services” ?

    Start with BL&P Emera and Flow,CWC.
    …………………………………………………………………………………………..
    In the end it may very well come to that,as the Government may be forced to take over EMERA’s BL&P. Recently we have seen major power outages and frequent dips. One such occured last Sunday night, plunging many northern communities in darkness for hours. A week ago there was another major one in the south of the island, and up to date we have not be given a reason by EMERA. Many Street lamps are not burning, and the PR people are on record as saying that the company has ran out of stock of street lamp bulbs. Probably for the first time in its 100 year history. The big crunch will come when the ageing engines at Spring Garden and Seawell, finally clap out , then its goodbye to the lucrative returns to the shareholders in Canada, followed by goodbye EMERA.

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  • watchman October 23, 2015 at 2:51 PM #

    My black Brothers And Sisters of Barbados , please take a look at the face of the PM, and the Ministers of Barbados and you will clearly see that they are the reincarnation of some callous black people who sold our ancestors in Africa , they action and behavior (greed ) of governing Barbados from 2008 to today have clearly showed what reincarnation could be,it seems as if the pack of like minded persons have a short time to destroyed Barbados before the devil recall them
    ……………………………………………………………………………………………………..
    Wherever you turn these days ,everyone is quick to tell you that these are the last days and Jesus will be coming soon, but when as you advised, take a look at these greedy ugly bastards you will have to admit that it looks like Lucifer has beaten Jesus to it.

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  • Well Well & Consequences

    Usually when shareholders acquire the majority sharees in a company, through IPO’s or whatever, they get to dictate the future of any remaining shares, it’s called controlling interest.

    Bajans do need to consider taking control of their state owned taxpayer funded entities, seeing as the governments, both DLP/BLP are incapable of maintaining anything without selling out to some foreign interest.

    Hants is correct in making the suggestion.

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  • @ Gabriel
    OSA sold the shares in BNB to put the funds into a rebuilt Hilton Hotel.He also offered the shares to bajans in frequent press statements which I heard,
    ++++++++++++++++++++++++++++++++++++++++++++++++++++++
    Skippa, you know that Bushie is a fan of yours – especially when you coin classic phrases like “Rip Van ffing Wrinkle”, but don’t come with that bogus excuse for Owen..

    He did shiite!!

    Owen sold the BNB shares because he is a joker who was unable to take the required management decisions to get it to run profitably. Shiite man, wuh he was bragging that he was making more money from the remaining MINORITY shares after the Trickidadians took over… What the hell does THAT say about his leadership before?

    Why the hell did he not offer development BONDS to Bajans in order to finance the Hilton? …and sort the damn Bank out in our interests? ….instead of giving it away?

    …and PLEASE stop with that shiite about him “offering BNB shares to Bajans”…. who the hell did it belong to? …Skippa..only a Jackass would take up good money to buy shares in something that ALREADY belongs to him….
    You , Miller and Owen must think that Bushie just born….

    Shiite man… no wonder he was broke and crying on TV about being unable to support his family …. before The BLP handed him the keys to the damn national treasury….

    Imagine we allow people like Fumble Froon and Owing …who never held a successful job before, to direct the affairs of the whole damn country…..
    Steupsss… we gotta be 100% brass…

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  • @ Colonel Buggy

    Thanks, I was going to used the word UGLY to describe the mind and physical of these greedy persons action and behavior, even the Rev/Senator Durant is greedy , he must have a multimillion dollar church, Lucifer place them here,

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  • @Bush Tea

    OAS sold BNB to validate CSME for which he was lead at the time.

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  • @ Colonel Buggy October 23, 2015 at 5:53 PM
    The big crunch will come when the ageing engines at Spring Garden and Seawell, finally clap out
    +++++++++++++++++++++++++++++++++++++++
    Prophetic words indeed.

    That will be the day that brass bowls come to understand why one does NOT sell one’s birthrights to strangers – especially when one had only just emerged from 400 years of existing like animals – under the hands of the ancestors of those same very strangers….

    One correction however…. The shareholders in Canada have ALREADY made their killing, and as we blog, are just enjoying the gravy until the shit hits the fan….

    …ask Lawson, Money B and Hants if you doubt Bushie 🙂

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  • @ David
    OAS sold BNB to validate CSME for which he was lead at the time.
    ++++++++++++++++++++++++++++++++++++++++++++++++++++++
    BNB shiite…!!
    OAS sold Barbados to validate CSME for which he was lead at the time…. Do you have ANY idea of the LAWS that he changed which now allows any and every foreigner to come here and do ‘as they like’?
    Owen CREATED Bjerkhamm et al….

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  • We are saying the same thing Bushie.

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  • LOL @ David
    We are saying the same thing Bushie.
    ++++++++++++++++++++++++++++++
    Noted … but you got Bushie vex cause you seem reluctant to ban AC….

    Besides, you make Owen’s shiite sound so ‘reasonable’ ….
    Shiite David man, your whacker needs upgrading to a four-stroke
    with the largest size string….

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  • OSA is old news, why even target him. It is the system stupid!

    On 24 October 2015 at 00:00, Barbados Underground wrote:

    >

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  • @ Bushie, I am not a rich Canadian like Lawson and Moneybrain but I have been watching the expansion of Emera.

    Halifax power company Emera Inc. has agreed to buy Teco Energy Inc., owner of the electric utility in Tampa, Fla., for $6.5-billion (U.S.) on Friday.

    Barbados is now chicken feed to Emera.

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  • The problem with foreign ownership is that the owners and shareholders interest is paramount.

    Never mind the bullshit spin about “we are committed to the people of Barbados and the other scripted crap, decisions are made to maximize profits.

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  • @ David
    Owen may be old news, but his thinking, and the consequences of his philosophy remains. The idiot Stinkliar actually has been trying to emulate Owen – unfortunately he don’t have one tenth (note the avoidance of decimals) of Owen’s brain….
    LOL …you KNOW Bushie just wanted to dig at Gabriel too… 🙂

    @ Hants
    You may not be wealthy like Lawson and Money B (who is?..) … but you is a bright fella…
    Do you think that EMERA is able to invest in Teco Energy – IN SPITE of it’s financial commitments in the Caribbean …. or is it BECAUSE of the killings it has made here at the expense of local investments in plant, equipment and personnel?

    Do you think that Emera will set a high priority to maintaining high reliability in Barbados (which is expensive and risky due to threats from alternative energy) or focus on Canada and Florida (where regulatory authorities actually have balls…?

    After you answer those questions tell us if you can see Colonel Buggy’s point about our pending ‘grassification’ of our national donkeys….

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  • Well Well & Consequences

    What did ya’ll do with Moneybrain, it’s so not like him to miss monied discussions.

    Hants, as I understand it Canada is also selling Hydro, not sure if It’s to a foreign interest or private interest, but many people seemed to be pissed with the Harper government over the proposed sale.

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  • Now it looks like an American is joining the fun.

    “Liberty Global is owned by American billionaire John Malone,

    http://www.nationnews.com/nationnews/news/73670/-takeover-looming#sthash.8edTxYpk.dpuf

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  • @ Bushie,

    Emera may use Barbados to test the “Solar / Wind” model.

    It does not take a genius to figure out that Barbados is an optimum location for Solar energy.

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  • Right Hants!!… if it suits their ultimate purpose….
    Just like Flow ‘MAY’ have placed their call centre in Barbados….
    IF it had suited THEIR purposes..

    …so here we are, 50 years on; a ‘Degree in every home’; …’craftsmen of our fate’ ;
    …hoping that some money hungry foreigners will smile on us….

    Shiite…!!!!

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  • Page 3 of BarbadosToday. Donville speaks.

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  • So Massy sold its BHL shares at $4 just a month ago – shares which the buyer could have sold for $5.20 one month after purchasing and may have another opportunity to sell for more than $5.60 in the near future. It would be interesting to examine Massy’s decision making process for this one. Perhaps UWI can study and publish a paper on this one for the benefit of regional investors.

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  • Yes Dr. Robinson please give us some scholarly analysis on the reported transaction.

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  • Well Well & Consequences

    Looks like Liberty Global is initiating a hostile takeover.

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  • cannot understand the mindset of so called intelligent bajans! is this a democracy or dictatorship govt cannot prevent or stop a private company from selling its business .
    the most govt can do is guard and secure the interest of the stock holder/share holder against nefarious and illegitimate behaviuor prior to the sale of the enterprises

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  • The Chairman of the Stock Exchange Grenville Phillips in a recent discussion critiqued that the legislation needs to be looked at to protect the interest of minority shareholder, this is another discussion arising from the SLU/Ansa takeover of BHL, we need to tackle as well. Who is responsible for tweaking the legislative framework to ensure fairness and transparency you ask?

    GOVERNMENT

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  • @David
    The basic problem is that there is no ‘government’ in Barbados … just a bunch of dumb jokers who seem to listen to the jackass AC
    Owen started the ball rolling by removing all the laws that protected us as Bajans in Barbados (in the interest of CSME), and these jokers simply throw their hands up in the air with the excuse that ‘the Law say so’ …
    …as if ‘the Law’ is not just a lotta shiite written by dumb brass bowls…

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  • @Bush Tea

    We keep circling to the old arguments posted to BU through the years. How does one balance the forces of capitalism cum socialism with sustaining a wholesome society built on a philosophy/values that remain visible to perpetuate an indigenous identity as a people. Our politicians/businessmen always seem to surrender to the economic argument.

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  • What economic argument is that?
    Did you mean the GREED argument? …cause that is what they surrender to…
    An ECONOMIC argument would have been one that results is economic self-sustainability for the average Bajan…… would have resulted in economic enfranchisement based on merit.

    The ‘argument’ to which they ALL surrender is the one where some crooked man or woman (usually white) meets secretly with them and arranges to take ownership of Barbados and of Bajans in exchange for bank deposits in accounts in some white country…. on on their mother’s account if they are of low enough morals….

    The whole damn place is shot….. check and see that FEW of us can stand up and complain -because most Bajans do the SAME SHIITE at our various levels in society…

    The opposition can’t say a word – dem thief too
    The Police can’t rock any boats – dem may fall in the sea
    The Courts keeping a low profile… dem is a laughing stock to the world
    The Church is just about money and titles …like Reverend Doctor Father some shiite…
    The University is a farce..

    steupsss… IMPLOSION..
    …it is just a matter of time now…

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  • Bush shit some times your shite really stinks up the blog.
    any company that is privately have a right to protect firstly its interest and that of those who have invested in the company, It makes no sense in holding on to a company whose profit margin is failing and impacts negatively on overall production which includes goods and services and proper distribution of its markup to share holders and the over all positive direction of the company in the name of nationalism and patriotism
    this kind of mindset is fruitless and yields nothing both for country / company and stockholder
    Proper governance includes looking at the outlook and concerns of all of the above and not a hooting and hollering of theme rooted in patriotism or nationalism

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  • Both ANSA and SLU are now significantly invested in BHL. While each is publicly seeking control of BHL, it is very likely that each is also privately giving some thought to what offer price from the other would represent the point at which to sell its BHL investment rather than to continue to seek control. As they move beyond the $5.60 upper limit of the KPMG valuation of BHL to its current shareholders, we should get a glimpse of the additional value that the operations of ANSA and SLU may extract from BHL.

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  • It seems reasonable to conclude that the BHL directors were divided on the adequacy of the SLU offer, hence: http://ansamcal.com/news-and-events/legal-notice-october-22-2015/

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  • @Atrue Freeman

    Agree with you – the whole affair supports what is known read local companies are seriously undervalued and ripe for the picking. We have seen in the past acquisition of undervalued companies was motivated by the prospect of asset stripping and not aligned with investment and growth prospects for the domicile of the target.

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  • Imagine the next Massy AGM will be a dandy, as they get to explain to their shareholders how they sold 13+ million shares in BHL for $20-26 million less than they were worth.

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  • @atrue
    despite the various conspiracy theories folks here love, its the old story….follow the money.
    The BHL directors were divided on a whole lot more than the SLU offer. It isn’t even clear, that SLU approached Massy?
    A case can be made that BWPL was trying to gain enough mass to make a takeover bid, but when Massy sold to SLU, any hopes of that were derailed. And that Hadeed was pissed Massy didn’t offer him the shares at $4.
    This is the flip side to insider trading….that Hadeed knew back in May 2015 a run was going to be made at >$2.50 and so bought a chunk to resell.

    I also question your term of asset stripping. Banks was a brewery. Who says they were any good at running a dairy, just because both products are consumable liquids? (or soft drinks) Maybe the mistake was BHL acquiring the diary in the first place. These so called “conglomerates” frequently end up with business units they cannot operate in the name of growth. And the acquisitions create financial challenges which detract from their core business. Hence the “devaluation”, or at least why they trade well below market value.

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  • Dr Gonzales ,PM of St Vincent and the Grenadines is peeved with Freundel Stuart over two letters he sent to Stuart both of which have remained unanswered.
    In one of the letters PM Gonsalves is demanding of Stuart to remove Deloitte Consulting as judicial manager of the collapsed CLICO International.

    In short the letter was addressed to Dolittle about Deloitte.

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  • millertheanunnaki

    @ ac October 24, 2015 at 6:25 AM#
    “cannot understand the mindset of so called intelligent bajans! is this a democracy or dictatorship govt cannot prevent or stop a private company from selling its business .
    the most govt can do is guard and secure the interest of the stock holder/share holder against nefarious and illegitimate behaviuor prior to the sale of the enterprises”

    What a light-bulb moment of enlightenment! The current DLP administration “cannot prevent or stop a private company from selling its business” but the previous undemocratic dictatorial regime under King Dictator Owen Arthur should have stopped private individuals from selling land and properties on the West Coast; land not owned by the State.

    Ac, you and your troupe of clowns are just one circus of hypocrites and bold-faced liars.
    What are your views regarding government’s plan to “privatize” the Harrison’s Cave enterprise?

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  • Banks Breweries better hold on to its old equipment and property in Wildey, as that may well one day ,again become the only active brewery in Barbados.

    BANKS!!!! Extract-ly

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  • what Arthur allowed was unconscionable and unreasonable knowing that greed would take a foothold and land prices would escalate shutting out the poor bajan from owing a small piece of the rock on prime real estate.
    Sure nuff the inevitable happen these new land owners took charge of their new found wealth which they bought at pennies and in turn escalate the value of the land while riding on the back of govt approval which triggered a cascading effect to increased land prices

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  • Well Well & Consequences

    Yeah, yeah and blah, blah AC, and why did Fruendel not reverse the trend, they had enough time,, oh, I know, they are the CAN’T DO DLP, just ask Ralph Gonzales.

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  • millertheanunnaki

    @ ac October 24, 2015 at 5:42 PM
    “ what Arthur allowed was unconscionable and unreasonable knowing that greed would take a foothold and land prices would escalate shutting out the poor bajan from owing a small piece of the rock on prime real estate.”

    You are just one piece of ignorant shit floating on an open sea of DLP stupidity.
    What Arthur did what my donkey!
    The Barbados Constitution gives private owners the RIGHT TO SELL THEIR PROPERTY.
    Did Arthur sell any Crown lands on the West Coast. What you wanted the man to do? Compulsorily acquire all the privately owned lands on the West Coast and vest them in the Crown leaving Bajans unable import their foreign luxury goods and Japanese-made steel donkey carts?

    The West Coast was being sold out from way back in the 60’s when the iconic Father of Independence was ruling the roost. Were people like Oliver Messel, Ronald Tree of Sandy Lane fame, Jack Teller and the guy who “developed” Sunset Crest (de la Foret or something like it) around when Arthur was in charge?
    The West Coast was primarily swampy or rab land (of no agricultural value when Sugar was King) before “foreign money” made it into what it is today, the gold or platinum coast.

    BTW, wasn’t the foetal-aborted Pickering Project a form of “shutting out the poor bajan from owing a small piece of the rock on prime real estate”?
    Why can’t you shut your blasted chatterbox trap when ignorance is the only item on the menu?

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  • Yeah the right to sell property does not void out a moral right for govt to protect its citizens from land grabbers

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  • millertheanunnaki

    @ Colonel BuggyOctober 24, 2015 at 4:00 PM#
    “Banks Breweries better hold on to its old equipment and property in Wildey, as that may well one day ,again become the only active brewery in Barbados.
    BANKS!!!! Extract-ly”.

    your tongue-in-cheek remark is a rather subtle way of telling Bajans to prepare for the day when the following phrases would be real old time sayings:
    Care for a ‘Banks’? No thanks!
    By the way what is a ‘Banks’, is that an old-fashioned money store?

    You got it right there. The objective behind these so-called takeover bids is to do what has been done to real Bajan Rum (100% Bajan rum made from 100% IMPORTED Molasses).

    That is to take control of all BHL distribution channels and then rebrand Banks beer with a brew called Stag or some other sexy name made from 100% imported finished but ‘cheaper’ product.
    A replay of Super-Centre here we go (again).

    But what’s the difference between a Bajan Beer and an Imported Stag other than two horns with balls, only CBC knows?

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  • millertheanunnaki

    @ ac October 24, 2015 at 8:13 PM#
    “Yeah the right to sell property does not void out a moral right for govt to protect its citizens from land grabbers”

    You need to direct your moral proviso to Fumble as Bjerkham- in return for huge electoral campaign contributions- expects approval to turn a once-thriving farm producing Nature’s gifts for healthy living into another barren concrete jungle.

    Like the many promises made to naïve fools (CLICO policyholders, BCC students, public sector workers and honest voters) you shall soon seen the P M’s words of not converting agricultural land to other commercial uses fall on deaf ears. A promise is a comfort to a fool. And, by Jove, there are too many in Bim by the name of Bushie’s Brass-Bowls.

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  • The next entity in Barbados on the Bruggadung list is the Cement Plant. Laid off more workers this week.

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  • Early days yet, but page 17 should be of interest

    Click to access 2015_Barbados_Annual_Report.pdf

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  • @Hants October 23, 2015 at 8:27 PM #

    The problem with foreign ownership is that the owners and shareholders interest is paramount.

    Never mind the bullshit spin about “we are committed to the people of Barbados and the other scripted crap, decisions are made to maximize profits.

    You are correct that the interest of the owners/shareholders is paramount in business – and that is as it should be in capitalist societies/economies. And that is so whether it be domestic or foreign ownership.

    On the topic of scripted spin/crap, here is a real dandy from “Cahill in the Community” (not Q in the Community) at:

    http://www.cahill-energy.com/why-barbados/cahill-in-the-community/

    “What good is individual success in life, if at the end of the day you have not made a difference in the lives of others?”

    Cahill Energy is planning to become an active participant in the effort to achieve energy and waste management independence in Barbados. We are also planning to contribute to the island community and as we build our plasma gasification plant we will also build your trust by contributing to the development of our new home.

    This is commonly known as “Corporate Social Responsibility” and is defined as:

    A company’s sense of responsibility towards the community and environment (both ecological and social) in which it operates. Companies express this citizenship (1) through their waste and pollution reduction processes, (2) by contributing educational and social programs, and (3) by earning adequate returns on the employed resources. This is also known as corporate citizenship. Building relationships with Barbados; we want to look a Barbados and see how best we can help make it a better place to live and work.

    “Cahill has found that customers really want to know how you’re making the world a better place,” it can be based on socially based business philanthropy; consultants who helps entrepreneurs find causes they’re passionate about and incorporate their message into their business.”

    So MECC, the socially responsible M&A expert CEO of Cahill, wants to help make Barbados a better place to live and work; and make a few bucks while she is at it.

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  • @David, Bushie and Miller,
    It is my strong belief that the purchase of BS&T was a leveraged buyout, and the sale of BHL is a means of financing the payments for its purchase.

    ALL the lights on the ABC highway should be powered by Solar Panels and we would not have them going out. each one would be independent.

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  • Oh my I feel old….LBO….been alotta years since I heard that. Typically LBO referred to highly leveraged deals, like 85%+ debt. The Massy Report for 2008 suggests it was likely about 60% debt. Recall they had a dual formula, and they show 493 million was funded by equity. Still Massy’s debt has risen (I didn’t bother to read exactly what the funds were applied to) so any piece of change will help reduce debt.

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  • Tony Best nails it.

    Like it or not, M&A is a fact of life

    http://www.nationnews.com/nationnews/news/73480/headlines-behemoths-lilliputians-beverage-industry

    “Mergers and acquisitions are a reality and Bajans wouldn’t be able to block that ship from sailing. Indeed, it has already set sail. Expressions of emotions about the selling of family silver are useful when it comes to reaching a national consensus on the way forward for the private sector but what really counts is ownership, the acquisition of equity in companies as companies strive to get off the ground or expand”.

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  • The Canadians !!!!!!!

    “on the verge of signing an agreement with another Canadian company, Deltro Electronic Incorporated, to provide power to a new utility company for 20 years in the first instance, and 80 years after that.”

    http://www.nationnews.com/nationnews/news/73768/-beware-cahill#sthash.GYqQRlTF.dpuf

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  • The company is Deltro Electric (not electronic) and is best known for being owned by the brother of now convicted former MP Dean Del Mastro. His conviction related to election campaign over-spending, and his subsequent attempts to hide them. The source of some funds having come via Deltro, reportedly via employees given money to donate as if personal donations (an old trick in Canada) The MP Del Mastro was once very closely tied to former PM Harper. Otherwise Deltro is a small player, who being obviously “well connected” managed to land a few high profile public contracts.

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  • How so we get tangled with these less than reputable persons?

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  • NorthernProwler

    Well said.

    Your moniker could be used to describe these less than reputable persons from the Great White North

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  • Birds of a feather, flock together?
    As a newbie, BU is the same. Almost any thread, regardless of where it began can be reduced to politics or the sociological history of the island. And the comments follow.

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  • @DD.
    Good point. Maybe I should change to NorthernObserver? My normal moniker is SuthernAccents, just to F-up all my American friends who believe south ends in the Fla keys and so I must be from Ga, Fla, bama etc

    Like

  • Well Well & Consequences

    Oh how I wait for the greedy political class to meet their equally greedy foreign counterparts who are being sought by international law enforcement.

    Like

  • NorthernProwler

    Yes I think NorthernObserver has a better ring to it.

    Barbados can use all the observers it can get to keep and eye on the Northern Prowlers who seem to to be trying to pick the bones of Bim.

    They are an embarrassment to those of us in the Great White North,

    Like

  • The Barbados government must be aware of GOOGLE and how it can be used to find information about people in far off lands.

    @ NorthernProwler,

    cousin not brother…..according to the National Post.

    Like

  • Well Well & Consequences

    The way things stand Hants, I don’t believe they care to google these people, it does not work in their best interest to do so and they can always claim ignorance if any of their foreign counterparts are hauled off in handcuffs, what they don’t realize is, that in the real world, ignorance is not an excuse to commit crimes or conspire with criminals.

    Why do you think I am praying so hard…lol

    Like

  • Well Well & Consequences

    However, they will google the hell out of you, David and I to find out who we are in the hopse of finding ways to stop us from exposing their and their compadres’ crimes, even if they have to manufacture arrest warrants.

    Like

  • Hoyos’ article truly puts it in perspective.

    Like

  • @Atrue, you got your $6. Are you finally going to sell or r u waiting for another round! lol

    @David, not trying to start any bassa-fight but is there a viable reason that the most insightful and detailed reporting on the BHL matter since the 2010 shareholders meeting has been done by Pat Hoyos…who just happens to be ‘white’?

    Maybe there were articles by others and I only noticed his due to them being highlighted here but he has been laser light powerful with his analysis on this issue.

    Like

  • I’m just sitting here watching the wheels go round and round,
    I really love to watch them roll,
    … (JOHN LENNON)

    Like

  • There is a dearth of talent in the media and specifically in the financial arena. Whether Hoyos, a high brown has something to do with it?

    Like

  • Minister Sinckler, a lot of BHL money will soon be available – a good time to start your privatization program.

    Like

  • Does this warrant a lawsuit against the BHL directors?
  • It seems that BHL is being driven to its true value DESPITE the determined efforts of its directors to let it be sold off cheaply… These things make a bushman go hmmmmmm!!

    One wonders what BS&T, BNB and BL&P would have been valued at / sold for …if THEIR directors actually had balls and worked to maximise shareholder value. instead of in the buyers’ interests..?

    Like

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