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Chairman of the Fair Trading Commission (FTC) Jeff Cumberbatch Responds to Minister Chris Sinckler

Chris Sinckler, Minister of Finance

In response to Minister of Finance Chris Sinckler’s criticism about the length of time the Far Trading Commission (FTC) has taken to deliver its final decision on the application for SOl to acquire BNTCL, Chairman of the FTC Jeff Cumberbatch shared the following press statement [16 November 2017]. The final decision on the matter is to be made on November 23, 2017. It is interesting to note that the FTC held in-camera sessions as recent as 23 October 2017 pursuant to 26 (2) of the Fair Trading Act, AND, Minister Sinckler launched his criticism on the 10 November 2017.

The Barbados government is desperate to bolster its foreign exchange reserves which based on recent reports has fallen to an uncomfortable low of 9 weeks cover. It is a pity the country finds itself in a place where profitable state assets have to be dumped to support consumption spending by the country.

85 responses to “Chairman of the Fair Trading Commission (FTC) Jeff Cumberbatch Responds to Minister Chris Sinckler”

  1. Well Well & Cut N' Paste At Your Service Avatar
    Well Well & Cut N’ Paste At Your Service

    The ones who are most desperate and complaining the loudest are the ones who are prolonging the proceedings with delays, so very typical…it’s like a disease.

  2. Hamilton Hill Avatar
    Hamilton Hill

    The trade unions marching. The private sector talking. The church practicing thunderous silence. The forth estate catching at the crumbs that fall from the table. All this while a totally inept administration remains in place, driven to exact every last drop of blood constitutionally due them. WHILE THE GRASS IS GROWING THE HORSE IS STARVING!

  3. Caswell Franklyn Avatar
    Caswell Franklyn

    Jeff Cumberbatch is a boss. He managed to point out to the world that Sinckler is at best a liar but he did so with such elegance.

  4. Bush Tea Avatar
    Bush Tea

    @ Hamilton Hill
    The trade unions TALKING about marching; the private sector TALKING; the church SILENT; the press MUZZLED; and the people are BEWITCHED.
    The administration is under the complete control of DARK, demonic forces …and will destroy the whole country in their mindless march to mayhem.

    Barbados is a classic case of a country on the path to destruction.
    It is like one of those YouTube videos where you KNOW disaster is imminent, and you keep watching all parts of the screen to see EXACTLY from whence it will come….

  5. Bush Tea Avatar
    Bush Tea

    Any government that is so intent on disposing of profitable national assets like Hilton and BNTCL … just WEEKS away from a general elections …HAS to be engaged in devilish underhanded intentions.

    ANY normal leadership would seek a new mandate from the people BEFORE engaging in such drastic actions…. ESPECIALLY if such a sale is so critical to national survival.

    OBVIOUSLY these two deals are intended to provide the usual bribes that we have come to accept for CROOKED players who KNOW that they will NEVER EVER be returned to any kind of high office in Barbados (or the world).

    The FACT that a whole country of brass bowls could sit idly by, while these demon-possessed PARROS sell off the family furniture and appliances – after already handing the kitchen and the utilities over to foreigners – tells us that ALL BAJANS are similarly bewitched.

    The only hope is that Jeff’s commission still has the needed BALLS to tell these DLP low-life traitors where to get off…

    What a HOPELESS place….

  6. Bush Tea Avatar
    Bush Tea

    Oh get a life Caswell!!

    Stinkliar has been ESTABLISHED as a LIAR from very early in his tenure.
    The man has lied about practically EVERYTHING that he has ever spoken about.
    He is obviously under the same demonic influence as is Donald Trump.

    he lied about Four Seasons
    he lied about CLICO
    he lied about the Eager 11
    he lied about the medium term recovery plan
    he lied about the shiite tax
    he lied about CAHILL
    he lied about the 21 downgrades
    Shiite man, he even lied about lying.

    The vary FACT that this low-life, lying, piece-of-jobby still has control of the national purse is an inditement of the even more despicable Froon, of the pissy opposition BLP, of the shiite Unions, the damned church, and mostly, of the brass bowl people of Barbados.

    If a people always get EXACTLY what they deserve, what do you think is in store for our donkeys…?

  7. Well Well & Cut N' Paste At Your Service Avatar
    Well Well & Cut N’ Paste At Your Service

    Lol…IMF.

    Ah dont even like to look at LeGarde she is so ugly, but she is on point about the nasty, destructive cyclical election politics that has brought islands like Barbados to its knees.

    She would not have lowered herself to mention yardfowl politics, but we got the gist.

  8. Caswell Franklyn Avatar
    Caswell Franklyn

    Bushie

    We all know that saying Sinckler is a stranger to the truth is a gross understatement but that was not my point. I was merely praising Jeff’ finesse in further exposing Sinckler as a chronic manipulator of the truth.

    Sent from my iPad

  9. NorthernObserver Avatar
    NorthernObserver

    I note the NIS website has been amended to include the members of the Board.
    The NIS Chairman stated, there is no political interference regarding investment POLICY decisions. I wonder if after watching the MoF, one appreciates investment decisions and investment policy are two different things? I love the ‘volun-terry’ comments at the end.

  10. Gabriel Avatar
    Gabriel

    Reading the FTC’s release and the MoF’s statement,it is clear that the two are not on the same page.Since the MoF has a penchant for being a prime purveyor of terminological inexactitudes and the FTC is led by an eminent lecturer in law,it is safe to conclude that the FTC’s version of events are both plausible and convincing.

  11. Sargeant Avatar
    Sargeant

    Anyone who follows BU regularly knows that Jeff is a bit of a wordsmith so I chortled inwardly when I read the phrase “official consternation” included in the news release. Seems that Jeff was not only “clearing the air” but was acting the school master in admonishing a wayward student.

  12. Pachamama Avatar
    Pachamama

    @ Bushie

    Everything you say is correct, everything!

    But ……………………. yuh missed one thing

    That the BLP is to come in next cannot stem the slide into hell.

    And for our Jefferson Cumberbatch to be the principal instrument for the impoverishment of Bajans through the reckless consolidation of national resources into a few hands is unworthy of him.

  13. Frustrated Businessman: Animal Farm sequel playing out in Bim. Avatar
    Frustrated Businessman: Animal Farm sequel playing out in Bim.

    This entire escapade is a farce to return Kyffin’s favour of keeping this gov’t propped up with millions of dollars in fuel credits for statutory corporations and civil services and more millions in bus parts.

    Not one cent of Forex will be gained.

    Gov’t assets owned and operated by statutory corporations should be leased to the private sector, not sold.

    Employees should be allowed to bid to take them over as well. Convert the tax spenders into tax payers.

  14. Gabriel Avatar
    Gabriel

    FB
    In the same way that the sale of a state owned asset can be disposed of to a private entity there is nothing to prevent the reverse from taking place at some future date.Further there is nothing to stop the inclusion of a caveat in the bill of sale that the recipient enterprise be a publicly traded entity.In my opinion that is a sine qua non in this particular transaction.

  15. Well Well & Cut N' Paste At Your Service Avatar
    Well Well & Cut N’ Paste At Your Service

    Frustrated…ya cooking with gas.

    Lease is the way to go, everything is streamlined.

    These entities should have IPOs.

  16. Hamilton Hill Avatar
    Hamilton Hill

    Workers sit back and accept this ignorance about pleading for a coping subsidy from a bunch that has done precious little to hide the fact that they live high on the hog.You continue to pay a union that fell foolishly for the public spectacle of some televised social partnership meeting. Are you not coping with the ills confronting You? You seem to be, so continue to bend over and receive that Deceptively Long Prick…..up wunna wazzoos!

  17. David Avatar
    David

    @Sargeant

    Jeff is a smooth operator. It offends some of us to observe a lightweight MoF challenging a brainiac (thanks Hants) and an honourable man like Jeff in the way he did. Then again, the election cycle has started.

  18. William Skinner Avatar
    William Skinner

    Pachamama:
    “And for our Jefferson Cumberbatch to be the principal instrument for the impoverishment of Bajans through the reckless consolidation of national resources into a few hands is unworthy of him.”

    David:
    “Jeff is a smooth operator. It offends some of us to observe a lightweight MoF challenging a brainiac (thanks Hants) and an honourable man like Jeff in the way he did. Then again, the election cycle has started.”

    Which Jeff does the BU family recognise

    David’s :” the smooth operator ”

    Pacha’s : “the principal instrument for the impoverishment of Bajans…”

  19. Pachamama Avatar
    Pachamama

    William Skinner

    We have had many purportedly honourable men/women who have made all kinds of ‘accommodations’ with establishments.

    You may say they have found acceptable terms for the personal ‘sell-out’.

    The deeper truth is that no one person is any one thing. Most people represent some amalgamation of several forces operating within and around them.

    At times one motivation may have dominance over others and so on

    At other times conflation makes a determination less clear.

    The human condition – one may say.

    However, a state should never be subject to the personal motivations or inclinations or instincts of any one individual – unless we are talking about another, or perceived, political formation.

    In these circumstances, the policy of the DLP to sell-off national resources, across the board, certainly is not justifiably representative of the national interests, intent. No government of suppose to be able to so do. For it is both morally and legally bankrupt, or should be.

    Jeff must know this!

    Obviously, Jeff’s political affiliation has long been clear. And like the Germans who kept the trains running to Auschwitz his professional responsibilities and political affiliation have assumed mastery over his better judgement, as we percieve.

    We cannot even say that the BLP has a different view for these are the people who made a cottage industry out of the selling-out of the country.

    The only defense would be that it may be better to have a ‘smooth operator’ being the instrument for disempowerment. It that has any benefit.

    But what a weak rejoinder!

  20. David Avatar
    David

    @Pacha

    It takes a few honourable men to influence change. BU will pick Jeff everytime. Continue with your potshots, your role is understood.

  21. Pachamama Avatar
    Pachamama

    David

    You got us wrong

    We have made no effort at potshot. We are not well known for that. Have never found a need for the pot shot. We prefer the broadside.

    We were simply saying what our perceived judgement has been. Not only about Jeff but all humans, including you. How the Bajan political culture works.

    Jeff may have been the subject but the predicate you choice to miss. That predicate is much more important than any individual.

  22. William Skinner Avatar
    William Skinner

    @ David
    FYI: One definition of smart operator :
    “A “smart operator” is someone who knows how to “work” people and/or the system. He/she is intelligent, but also sly, cunning, often charming. He/she gets the desired outcome by whatever means necessary, but does it with skill, speed, and through sometimes unusual channels. It’s done so well you don’t realize what he/she is doing.”

    @ Pacha:
    “Obviously, Jeff’s political affiliation has long been clear. And like the Germans who kept the trains running to Auschwitz his professional responsibilities and political affiliation have assumed mastery over his better judgement, as we percieve”.

    Can we therefore deduce from you two erudite gentlemen that Jeff is a smart man who can drive people to their death, without them realising it ?

    I think we are therefore left to side with the learned Caswell that Jeff is indeed a “boss”

    Words words words…………..

  23. David Avatar
    David

    You need to reread what was written if you want to quote accurately.

  24. Heather Avatar
    Heather

    Hoping that the Chairman issues the Board’s final determination LONG, LONG after the meeting that is scheduled for November 23, 2017. Chairman the ball is in your court!

  25. William Skinner Avatar
    William Skinner

    @ Heather November 17, 2017 at 3:00 PM #
    Hoping that the Chairman issues the Board’s final determination LONG, LONG after the meeting that is scheduled for November 23, 2017. Chairman the ball is in your court!

    And who will this benefit ?

  26. David Avatar
    David

    Dumping a significant state asset a few months before a general election does not compute.

  27. Bernard Codrington. Avatar
    Bernard Codrington.

    An inappropriate utterance always deserves an equally inappropriate response. Surely the MoF public chastisement of the FTC was unnecessary and could be interpreted as political interference in a regulatory body’s affairs.

  28. Pachamama Avatar
    Pachamama

    David

    We are glad that your sentient streak has re-emerged.

    Are you then saying that Jeff should delay deliberations until after the elections?

    Then we would ask – to what ends?

    The BLP will give the oil to Kiffin the same way, under a new chairman.

    Or have you deduced that the party, the DLP, would want to be seen as continuing the enrichment of Kiffin as started in the 1970’s.

  29. Hal Austin Avatar
    Hal Austin

    Jeff is showing the reality of integrity in public office. Politicians hire and fire regulatory boards, but the boards manage. Any self-respecting chairman of a regulatory board who is called out by the political boss should tell him to butt out or resign.
    In this sense Jeff can give a lesson in professional ethics to his colleague Justin Robinson. It was also the failure of DeLisle Worrell.
    The simple lesson is that intelligent people should not allow themselves to be pushed around by Sinckler, Stuart or anyone of that type. Tell them to bugger off.

  30. David Avatar
    David

    @Pacha

    Jeff is the Chair of Commissioners operating with a mandate supported by statute?

  31. Pachamama Avatar
    Pachamama

    David

    We are unsure about the nature of this mandate

    But would assume it requires the commission to follow the desires of the state.

    Obviously the state wants to divest itself of the oil company.

    We also assume that there is little or no room for any discretion by the commission or its chairman.

    All that is left therefore, for the commission, is the delivery of a patina of decency to the process, right!

  32. William Skinner Avatar
    William Skinner

    Are we interested in Barbados or
    seeing it brought to its knees to
    satisfy our own political ends?
    Do we seriously want the entire
    country to pay for the political
    incompetence of the BLPDLP
    micreants?

  33. Heather Avatar
    Heather

    Political or otherwise, Why the haste? Is the Minister anxiously awaiting a kickback to enrich his pocket? They borrow money and it disappears. There is no back up plan for governement’s divesting of the states assets. All the money is going down the drain and no one can see any changes in Bim

  34. millertheanunnaki Avatar
    millertheanunnaki

    @ Gabriel November 17, 2017 at 9:38 AM
    “Since the MoF has a penchant for being a prime purveyor of terminological inexactitudes and the FTC is led by an eminent lecturer in law,it is safe to conclude that the FTC’s version of events are both plausible and convincing…”

    Archangel, if you had read my previous contribution on the BNTCL decision to be made you would have noticed that I put poor Jeff C. on notice that he is being set up as the ‘convenient’ fall guy for what is facing Barbados as far as its foreign reserves time-bomb is concerned.

    But fortunately for the country, Jeff C is neither a Deliar nor a JR of doctor boobies.

    The professor’s intellectual integrity has not been placed on the auction block of political yard-fowlism.

    The equitable decision to be made is one involving a joint venture ownership arrangement between the two marketing companies based on their market shares of the grounds fuels distribution and retail sectors. There is precedent for such an arrangement involving the importation and storage of finished petroleum products.

    Any other decision would be leaving the door open for the ‘aggrieved’ party to seek redress at the CCJ level.

    We shall see who or what will be flagellated for the failure of the Hyatt to reach erectile tumescence. Clearly not the impotent David C!

    A “couple of weeks” of flaccidity in the eyes of the minister of Tourism can certainly be a very long time in the Bajan smoke and mirror politics of deceit, delay and economic despair.

  35. millertheanunnaki Avatar
    millertheanunnaki

    @ Hal Austin November 17, 2017 at 4:09 PM #
    “Jeff is showing the reality of integrity in public office. Politicians hire and fire regulatory boards, but the boards manage. Any self-respecting chairman of a regulatory board who is called out by the political boss should tell him to butt out or resign.
    In this sense Jeff can give a lesson in professional ethics to his colleague Justin Robinson. It was also the failure of DeLisle Worrell.
    The simple lesson is that intelligent people should not allow themselves to be pushed around by Sinckler, Stuart or anyone of that type. Tell them to bugger off.”

    WOW!!!! What a ‘buggering’ outburst of pure orgasmic effect! At Last!

    Never in a million years would it ever be contemplated that there would a ‘conjoint’ meeting in time when HAL and the Miller would come to see eye-to-eye and be on all-fours while wanking and waxing intellectually.

    He has finally exited the closet and is dealing’ not with the anonymice in the BU pantry but with the real threats to democracy in Barbados.
    Now here is a ‘real’ man in the making.

    Either Bush Tea’s BBE is at work here or the Satanic monument at the Garrison is preparing to celebrate its first birthday of erection which opened the gates of hell only to let loose an unprecedented wave of demons on poor Barbados.

  36. David Avatar
    David

    @Pacha

    Under the Companies Act Jeff and his other commissioners likely have a fiduciary responsibility to the FTC only.

  37. Sargeant Avatar
    Sargeant

    We keep speaking of integrity in public life in reference to politicians but (mostly) exclude the professionals selected to police/administer or otherwise act as an arbiter regarding a particular policy. I don’t know or care of Jeff’s political affiliation but he strikes me as a pragmatist who is trying to serve the country and will evaluate all the submissions before making any determination in a “no win” situation. We need people who will leave their political preferences at the door when it comes to decisions that impact the country. These types of individual are mandatory in a developing country instead of those that walk hand in glove with every Gov’t or Ministerial dictate.

    Honest gatekeepers are the hallmark of a successful development country.

  38. angela Skeete Avatar
    angela Skeete

    Chris Sinckler nor PM Stuart does not own Barbados , They are placed in authority to look out for the country’s best interest .
    There is nothing absolutely wrong with the minister of Finance questioning a long process which if allowed to go on with no time line in place can negatively impact and hamper barbados economically
    The only people who think Chris Sinckler is out of line with his questionable remarks are the blp yardfowls and duffus who have been wishing and hoping for years to see the economic demise of this country

  39. Bernard Codrington. Avatar
    Bernard Codrington.

    @ Sergeant at 5:56 PM

    Yes indeed.”We need people who will leave their political preferences at the door when it comes to decisions that impact the country “. Luckily for Barbados there are many still around . May that state of affairs continue.

  40. millertheanunnaki Avatar
    millertheanunnaki

    @ angela Skeete November 17, 2017 at 6:06 PM
    “There is nothing absolutely wrong with the minister of Finance questioning a long process which if allowed to go on with no time line in place can negatively impact and hamper Barbados…”

    We will entertain your protests when the longsuffering taxpayers received their income tax refunds which were being stuffed in 24,000 envelopes while the same Minister of Finance spoke in Parliament some two going three years ago.

    First time in Bajan history has it taken so long for a BRA to be unfastened by a monster of a deceitful lying prick.

  41. Well Well & Cut N' Paste At Your Service Avatar
    Well Well & Cut N’ Paste At Your Service

    So tired of Angela Yardfow, sister to Maureen Yardfowl.

    Miller…I did not want to spoil it by saying anything, am in awe.

  42. David Avatar
    David

    Did you even read the press release? If you did- with comprehension- you would have understood that SOL, the entity bidding to acquire BNTCL requested an in-camera hearing about 3 weeks ago.

    #JA

  43. angela Skeete Avatar
    angela Skeete

    The only reason You Jac ss David know such information is because the minister of finance had questioned the long process. Why did it even took so long for the FTC to revealed such information in the public domain.
    Yes the minister was within his authority and rightfully to question the process.

  44. David Avatar
    David

    You idiot did you think a minister of finance had to publicly question the FTC when he could have picked up the phone and called the minister responsible? Sinckler is a buffoon who has operated out of his league as finance minister for 7 years. History will record that he was the worst MoF of Barbados followed closely by Sandford.

  45. angela Skeete Avatar
    angela Skeete

    How do you know he did not . Have you ever heard of the last straw.

  46. Gabriel Avatar
    Gabriel

    Amen David Amen.Well said @7.01p

  47. Talking Loud Saying Bothing Avatar
    Talking Loud Saying Bothing

    I’m no economist but there is a question that we need to ask Mr Sinckler. Firstly, how many of our nation’s assets does the minister propose to sell in order to bring an equilibrium or an upturn to our economy? Secondly, are our limited assets sufficient to pay off our debts and to raise our foreign exchange reserves? Thirdly, is the minister prepared and willing to admit that the government’s main objective is to hawk the nation’s family silver to the lowest bidder. Fourthly, what will become of our nation when we realise that our once beloved assets – let’s call them our lifeboats – were sold off in our hasty desire to continue our love affair for all things foreign.

    Those individuals and groups, such as the IMF, are railroading the incompetent Finance Minister – Sinckler – to push aggressively for the fire sale of our assets. Such people are nouveau colonists. What we are witnessing is a subtle recolonisation of our region. The omens are not good, i sense a return of winter to the Caribbean region. The indignities that our ancestors suffered and endured will come to revisit us. Perhaps the masses will wake up;but – alas – it may be too late!

  48. de pedantic Dribbler Avatar
    de pedantic Dribbler

    Mr Blogmaster, I can agree with your assessment that Min Sinckler will likely be accorded the ignomy as the worst MoF but the blog’s interpretation of the political show between him and the FTC chair is misdirected in my view.

    This is the accepted sharpnel richochet seen in political warfare. The MoF brought public pressure to bear on this SOL issue …. as he is entitled to do. He clearly has some deliberate reason for the fulsome short ball.

    In turn the very independent and erudite chairman responded with deference, clarity and also his own purposeful brush-back short ball. After all, his duty and respondibility is to Barbados not the minister.

    That is actuallly the way it’s supposed to work on the public side…naturally the private avenues had been exhausted.

    We have gotten so accustomed to obsequiousness by the politically appointed chairpersons to the elected superiors that this epidode seems odd… it shouldn’t.

  49. Pachamama Avatar
    Pachamama

    Under the Companies Act Jeff and his other commissioners likely have a fiduciary responsibility to the FTC only.

    David, is the FTC appointed by government or government actors, in the main?

  50. Pachamama Avatar
    Pachamama

    Just had a brief look at the FTC Act – http://www.ftc.gov.bb/library/CAP326B.pdf

    Seems like a Statuary Corporation

    That means that the Minister can direct the Chairman in every way.

    If this right, why would we be pretending that this Chairman has any more power than any other?

    Or expecting actions inconsistent with government’s policy?

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