No Haircut for Old People Says PM Mottley


The news that the government has taken the decision to rollback on a decision to implement a debt restructure program intended to be broad brush is good news. To have inflected the level of emotional stress on senior citizens whose focus should be enjoying the fruits of their labour in the golden years can only be described as unconscionable.

There is also a conversation in the country that is getting louder about the possibility of citizens bringing a legal motion against government on the basis breach of contract. Such an action is unlikely given the passive deposition of the Bajan and the unwillingness of lawyers in Barbados to take on government with high profile action.

The blogmaster can paint other scenarios where Barbadians were duped to invest in government paper for love of country. There is a large cadre of middleclass that invested in government paper because the law forces the retiree (beneficiary of severance) to favourably consider this option to avoid a cash penalty.

How do citizens whose lives have been significantly altered reconcile the feeling of hopelessness with the fact the country is broke?






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                    Caroline Binham and Philip Stafford in London and Jim Brunsden in Brussels
                    3 hours ago
            Print this page
            The Bank of England has issued its starkest warning yet that up to £41tn of derivatives contracts maturing after Brexit are at risk unless European officials urgently address regulatory uncertainty.The BoE said on Tuesday that clearing houses would have to tell European members such as banks to move their business or risk falling foul of European law. Ultimately EU banks would bear the cost of the disruption, the BoE warned in its quarterly statement on risks to UK financial stability, citing estimates that suggested every basis point increase in the cost of clearing interest rate swaps could cost EU businesses about €22bn a year. The BoE estimates that EU-based companies have over-the-counter derivatives contracts with a notional value of £69tn at UK clearing houses. An increasing share of that £69tn — at £41tn — would mature after March 2019, when the UK is due to leave the EU.The BoE’s latest call to arms was echoed by the International Swaps and Derivatives Association, which lobbies for the derivatives industry. The group called on the EU to prepare new authorisation to come into force the day after Brexit.The warnings come as preparations on both sides of the Channel step up for the possibility of a hard Brexit, where the UK crashes out of the EU with no deal and no transition period. There is increasing concern that a game of brinkmanship is being played on both sides, and as cities such as Frankfurt and Paris vie for a portion of London’s jobs and revenue.Clearing houses must give members three months notice to move their business, which is costly and complicated. This means the commission will have to make an announcement about derivatives before Christmas or clearing houses will have to start giving notice to their members. Moving business would result in banks and other holders of swaps incurring millions of dollars in extra margin payments for their derivatives positions, and in associated capital costs. In some areas, there are few alternative clearing houses in Europe. For Brent futures, none at all. Isda has openly doubted whether it is possible to move business across the board.
                The BoE has consistently warned over the past year about Brexit posing legal uncertainty to vast amounts of financial contracts, from insurance policies to derivatives.

    But while Brussels has largely challenged its analysis, it has also acknowledged that the market for centrally cleared derivatives is a special case where there is a potential risk to financial stability.
    The commission has yet to reveal the short-term “contingency measures” it has said it would adopt to prevent problems. The problem turns on EU law, which states that members such as banks must use authorised central counterparties to clear derivatives and interest-rate swaps.
    London-based clearing houses’ EU authorisation will lapse after Brexit. A working group of officials from the BoE and the European Central Bank, which is identifying stability threats from a no-deal Brexit, has underlined the disruption that would be caused if EU members of UK-based clearing houses needed to quickly move their business elsewhere.
    Mario Draghi, the ECB’s president, said last month that authorities would need to look at how “contractual positions” in the market for centrally-cleared derivatives would be regulated in the event of a “sudden . . . unprepared, hard Brexit of the sharpest kind”.
    The UK government has said it would authorise European clearing houses, and give temporary permissions that would allow financial companies to continue with their current regulatory authorisations.
    But no parallel announcement has been forthcoming from the EU, and the vast majority of European derivatives business is in London. The ECB estimates 90 per cent of interest-rate swaps coming from the EU goes to the UK.
    While regulatory bodies such as the European Securities and Markets Authority have said they would enter into a series of memoranda of understanding with UK regulators, those have yet to be negotiated while political discussions continue.
    Clearing houses, largely run by exchanges, sit between parties in a deal and manage the impact to the market should one side default.
    London is the heart of the global business. Its three clearing houses — LCH, ICE Clear Europe and LME Clear — process more than $450tn in interest-rate, credit, forex and metals-related swaps from around the world.
    Without access, participants face a hefty rise in trading costs — or an inability to hedge their market exposures.European banks have also started to voice their concerns about potential disruption to derivatives clearing.
    They say that some contracts, such as steel and some types of foreign exchange, cannot easily be moved from London to other parts of the EU because of licensing issues.
    The City of London Corporation welcomed the BoE’s statement, and said it was “pressing” for the EU to take action to prevent cross-border financial services being disrupted in the event of a no-deal Brexit.“Financial stability should not be jeopardised in a game of high-stakes political poker,” said Catherine McGuinness, policy chair of the corporation.
    “Both sides should urgently work together to address cliff-edge issues such as contract continuity and data transfers that could prevent the industry from servicing their clients.”(Quote)


  • Vincent Codrington

    @ Wiley Coyote at 3:59 PM

    That is a third guess. Thanks for the suggestion. I will await David’s clarification on the question he really wants to ask.
    Remember the issue under discussion is the Debt over – hang.
    I notice in a submission above the issue of financialisation of the economy.
    The rapid expansion of Credit card debts. I wonder how much of this is past due.

    Please note that I have never supported the printing of money ,how ever defined.


  • @Tron October 9, 2018 2:08 AM “And what about telling Barbadians to sell their many SUV´s and villas?”

    So I’ve already done that.

    What else should I do now?

    Liked by 1 person

  • Lorenzo



    And other BLP apologists who peddle their PALAVER on this BU site know full well THAT:

    Barbadians have been savaged by the Mia Mottley led administration !

    Imagined the IMF is stating that Barbados 🇧🇧 is in for a long hard road to possibly no where !!

    All because :

    • Debt DEFAULT !

    • Lies about new SSA trucks in 3 months ( 5 months later not a DAMN new truck) – but there is an imposition of GARBAGE tax !

    • Robbing poor/ vulnerable pensioners – through pension cuts – Called a DECAPITATION by Alfred Brandford !

    • Robbing MOST public officers by giving them $ 90.00 in salary increases – but tekking back $ 125.00 in new taxes since 1 July , 2018 !

    BLP – Beating Lowly Pensioners / Persons…. BLP !!

    Barbados’ worst GOVERNMENT……ever !!!


  • Albert Brandford – Sunday Sun October 8, 2018


  • Better yet !!

    BLP – Brutalising Lowly Pensioners / Persons = BLP !!


  • You forgot your IMF chant.


  • @peterlawrencethompson October 9, 2018 11:16 AM “Andrea Stuart’s book about her Barbados family history, Sugar in the Blood points out some of our entrepreneurial cultural heritage:

    “Some of the most colorful figures in the capital [Bridgetown] were the female hucksters or vendors. These were slaves who came into town from country plantations like Burkes to sell the produce that they grew in their provision grounds. They were formidable women who often carried their vast trays of produce– corn, tomatoes, okra– on their heads.”

    Sold some okra on Monday, will do so again on Wednesday and Friday.

    I see the current situation as an OPPORTUNITY to increase my production and my sales. If people can’t afford to buy imported food, perhaps they will buy mine?

    Simple Simon
    Country female huckster


  • @Fractured BLP October 9, 20186:25 PM

    Can you explain in real, real simple language, so that even iIcan understand, why the DLP government borrowed the pensioner’s money, when they knew, or ought reasonably to have known that there was no way the government could afford to pay back the money, and that furthermore the people were sick and tired of the DLP government and could not wait to throw them out of office.

    Thanks and sincerely

    Simple Simon

    Neither “B’ nor “D”


  • This country cannot withstand five more years of austerity measures
    With an ageing population and unemployment most likely to increase
    Where and how does govt propose to get additional funding to keep social services up and running and to continue free education
    The long and short suggest that our population is not large enough to burden the few who are already pushed to the limit with high taxes
    The long and short also suggest that now with investors confidence in the toilet govt would find it very hard to renew any form of confidence which can create growth for the country

    Btw it seems like Jeremy Stephen open his mouth and the truth once again fell out
    However Mascoll took out his dagger and tried to slash Stephen to pieces

    Liked by 1 person

  • David BU wuh happen 🐱 got uh 😝 all them great things dat were supposed to occur when govt change seems to have put you in a sleeper hold
    I heard Mascoll has been sent to chop Jeremy into itsy bittys pieces
    30- 0 win for the blp has turned out to be a nightmare


  • It is quite possible that Mia is not as bad as we are perceiving her to be or that the DLP was not as incompetent as we thought they were.

    Perhaps, much of the problem came from the fact that we have very little to work with. Limited in size, population, resources, industry, exports Add to this a high degree of corruption and leaders with very little vision and we can see that failure is inevitable.


  • Vincent Codrington

    @ Theogazerts at 8:08 PM

    There is nothing inevitable about failure. If you fail to prepare; be prepared to fail. Constant vigilance is necessary. Barbados did not reach this state over night.Persons came into the Barbados society to take not to contribute. This sense of entitlement with out contributing is Karma at work.By the sweat of thy brow thou shall eat.


  • Truth will set you Free

    @ Theo
    Perhaps, much of the problem came from the fact that we have very little to work with. Limited in size, population, resources, industry, exports Add to this a high degree of corruption and leaders with very little vision and we can see that failure is inevitable

    Very very accurate.

    Added to this Lorenzo, Enuff, Prodigal, Mariposa, Fractured BLP, Gabriel etc sticking to a one party line.

    Both Political parties are rife with endemic corruption which is why Barbados is on it’s knees.

    Events which started many years ago with the thieving by Politicians of both parties has increased as the GDP has grown.

    This has been made easier as no one has ever been prosecuted locally for it.


  • Too much corruption, too many thieving government ministers, CORRUPTION is all they know, how to rip off the VULNERABLE, TRUSTING, UNAWARE population is all they know, this other half of the duopoly of stupid limited vision governments can see no other way, that is all the crooks in the Bar Association and the Supreme Court will ever know.
    …that is all they want to know..

    Do not look for any geniuses coming out of the parliament…there are none, not in this government.


  • BERT please call ERNIE!

    ” Government has racked up about $74 million in arrears to foreign commercial creditors.

    That’s based on new information released by the International Monetary Fund (IMF). It said the amount was accumulated

    between June 1, when Government suspended debt payments to these entities, and the end of last month.”


  • @plt
    You must have spent nuff years in Canada, for your initial proposed solution is the typical Canadian play. Sign a trade agreement, and whomever gets affected the most or keeps the most noise, immediately promise compensation.

    “If you fail to prepare, be prepared to fail….Barbados did not reach this state over night”.
    Excellent advice and observation.
    I recall vividly after the 2013 election, once it became clear the financial country managers were ‘doubling down’ on already failing policies, and I posed the question to some of “what are you going to do” and after hemming and hawing and a little feather fluffing responded meekly “wha ya want me to do?”.
    You keep using debt overhang, which I more associate with private sector operations, where they have profit centres, whereby the current massive debt load prohibits additional borrowing, which could be used to generate profit to repay the debt owing.
    The public sector is generally void of such profit centres. BNTCL, Airport, Port etc qualify if run like for-profit outfits.
    Meanwhile you have persons, small and large businesses, who made the decision to invest in GoB paper, with the current consequences. (Failure to prepare? Or just ignoring a red light)
    So I ask, what are people going to DO about it?


  • @Northern
    Sign a trade agreement, and whomever gets affected the most or keeps the most noise, immediately promise compensation.

    Are you speaking of the recently concluded Trade agreement? Dougie F said at the 100 day celebration that the Justin threw the dairy farmers and the steel manufacturers under the bus so he will go after them for compensation.


  • @WC: choice between 1) take an interest haircut and 2) devalue the Bds dollar and then recoup less than principal over the next 15 years. It is illogical to state that any entity will choose 2). So if a devaluation is imminent it would not be from the local bond swaps. Please explain how this can be incorrect


  • @ TheOGazerts
    Perhaps, much of the problem came from the fact that we have very little to work with. Limited in size, population, resources, industry, exports Add to this a high degree of corruption and leaders with very little vision and we can see that failure is inevitable.
    This is NOT the problem.
    While we obviously have fewer resources due to small size, we ALSO have correspondingly fewer NEEDS and challenges.

    For example, while it is almost impossible for an Atlantic hurricane to miss the USA, it has been VERY difficult for said storms to hit the Bajan bulls eye….

    Our problem is that we have NO RESPECT for the talents that we DO have…. in many cases above the global average per capita.

    Instead of looking for PROVEN talents to provide leadership, (people with a life HISTORY of leadership achievements) we opt for shiite lawyers who have NEVER accomplished a single good shiite in their lives…. or for family, friends and political lackies like chicken feed men to run complex operations.

    Instead of consulting with local experts who have LIVED the experience and have succeeded in small things… we opt for FOREIGN experts who know NOTHING of local challenges; who care NOTHING about our long-term outcomes; and whose antecedents are unknown to us…. (like the Washington University Boss)

    We ARE brass bowls … pure and simple.
    THAT, TheO, … the problem.


  • Northern Observer

    The whole lot…u can find any number examples. I don’t listen to Duggie, the Fed Minister announced comp the day after the deal (read the day of Que provincial election)

    Off the news wire, Sir Kyff has sold SOL (large majority or maybe just his ownership) to Parkland Fuel, traded on TSX.


  • Reported price for SOL…Cdn$1.57 Billion. Given this number, Simpsons overall holdings are larger than the GoB, and people ask about Bajan businessmen?

    Liked by 1 person

  • Parkland Fuel to buy 75% stake in Caribbean fuel marketer SOL Investments for $1.57 billion
    The deal gives Parkland access to 526 retail gas stations


  • SOL? Is this the same SOL that wanted to own the whole lock, stock and barrel of oil rights and distribution in Barbados? Now selling to a foreign entity? Was the proposed take over by SOL not to be in the best interest of Barbados? RUBiS must now be feeling justified in their opposition to the attempted monopoly.

    By the way, when are we going to discuss what is taking place with the University of Washington in Barbados, the sullying of our good name (again) and the ex Minister’s refusal to offer any explanation (nothing new). Should we now be doing a forensic investigation of any other universities(?) signed off by this ex minister and if any promises/gifts were exchanged to influence the decision?


  • pieceuhderockyeahright

    @ FearPlay

    The answer you are seeking as it relates to the details of the Washington University Barbados matter WILL NOT COME FROM ANY BARBADOS AUTHORITIES

    You will have to read about those details in an Indian Newspaper or United States real newspaper and not in our pretend reporting media.

    The Attorney General or our Commissioner of Police would not have any details on the matter.

    The first because he is a smiley teets idiot and the second because him commenting would cast a veil over the DLP administration that appointed him. AND WE CANT HAVE THAT CAN WE?


  • Now we know why there was such a mad rush to take over the entire oil business in Barbados before elections. RUBiS spoiled the plan. As you can imagine, to close a sale of $1.2 billion does not happen overnight so it goes to reason that while negotiations were in progress with the Government of Barbados and promoted by the MoF, plans would have been well underway by the local company to resell the whole gift from the DLP to its favored son. Think of how much more that package would have been worth if RUBIS had been bullied into submission? It would appear as if a big payday was spoiled for someone. Any suggestions who?


  • Pieceuhde, should MAM and the BLP led government really be blamed for what is happening with this haircut or should the blame be rightfully laid at the feet of the salesman of the snake oil who promised the world, knowing full well that he or whomsoever replaced him would only be able to deliver straw?

    Were those pieces of government paper a product purchased from a Bridgetown store, the seller would be arrested, charged and convicted for false advertising and taking money under false pretenses.


  • The lesson learned here is that if you act in a principled manner you will do the right thing and get a good outcome.
    The FTC could have folded like a cheap chair and allow the sale to proceed.
    Good job


  • 🙂 You all lucky I am not back there running things…
    I would call Rubis tomorrow “Add $5.00 to the Sol price and you got it”.
    I going to the bank now and check my account No. 01234765″ 🙂 🙂


  • @ Fearplay

    De ole man is and equal opportunity Blame Layer so you will notice that I have said to Mariposa and other DLP adipose students that they are responsible for where we are IN NO SMALL PART

    However, de ole man talking bout de constitution changes and the Laws unilaterally nullifying Treasury Bill Values and yields.

    Those are the sole responsibility of the BLP

    And it is for that Mia Mao Mugabe is now the proud recipient of these Stoopid Cartoons

    De ole man doan co-mingle rewards Fearplay and all this stoopidness bout nullifying 82 year old pensioner investments and telling them to brek for themselves until they are 97 is pernicious and bordering on the same demonic behaviour of the Demonic Labour party and I ent giving a feller no honeymoon to lik up de cuntry and den we wondering how we get heah.


  • Going to take a break
    The haircut cartoons tell the whole story…


  • OK Piece, point made. I too was not enamored with the bombastic unilateral conditions of settlement. What also concern me is that billions of dollars were borrowed in my name without my consent and now unaccounted for, further billions are being borrowed to clear the old debt (again without my consent) and for which I and my children will be responsible for repayment. I can’t unilaterally declare that I don’t have the money to pay my property tax and further, that I will only pay a reduced penalty at a time suitable to me. Something is rotten in the state of Denmark.


  • @ Fearplay.

    I am not an economist NOR AM I AN ACCOUNTANT but de ole man is going to predict this…

    What reduces your taxable liability?

    From what I am told your investments in a business.

    Let de ole man explain…

    Say I have a house which i have to pay all the normal expenses for utilities, mortgage, land tax etc.

    Say that i go and set up a small company and start to run a business from my house I CAN OFSET SEVERAL OF THESE TAXABLE LIABILITIES based on the performance or NON PERFORMANCE OF MY BUSINESS if i have an inventive accountant!!

    So my mortgage or part thereof becomes rent, my utilities can be appended to my business’s operational costs and depending on if i make profits or generate losses what it means is that every year my net contribution to the coffers of the tax man can be legitimately decreased

    In the same way that Kyffin Simpson and COW and all the rest of these fellows are doing it

    This BERT AND ERNIE stupidness is going to fail not ONLY because it is stupidness and illy thought out and ACCORDING TO THE IMF UNTESTED but because you cannot get blood from a stone.

    The Mia Mao Mugabe plan is not going to work because it seeks to tax people

    Liked by 1 person

  • @ the Honourable Blogmaster your assistance please with an item for Fearplay


  • @ FearPlay …8.58 pm
    You have explained the concept of having our donkeys in the grass.
    However you ain’t even experienced the first plimplers yet…

    Property tax is only a problem ….when you own property…
    When you are renting from the Canadians, Chinese and Trickidadians… such taxes will not be an issue…

    Eating, on the other hand, may be….


  • pieceuhderockyeahright

    @ Fearplay

    Do you get the impression that we have some Stoopid People at the helm advising Mugabe Mottley?

    Listen to these names R.E.R.E as in Rhi Rhi, Ambassador Plenipotentary

    Then we have B.E.R.T as in Sesame Street Bert.

    Now we have The Gathering 2020 as in the horror movie “…The Gathering See full cast » Edit Storyline. While going to the town of Ashby Wake, the drifter Cassie is hit by a car driven by Marion Kirkman and loses her memory. Marion invites Cassie to stay in her huge old house with her family, while recovering from the trauma…”

    This sounds like something out of bloopers and bloopers and “Days of our Effed Up Lives” eith Dr Horton or ” The Bold and the Senseless” with Ridge and ? or “The Good, The Bad and the Retarded” with Clint Eastwood

    We just cant be making up names like these.

    Cambridge Analytica got to be supplying these shy#€ names SERIOUSLY!!!


  • “De ole man doan co-mingle rewards Fearplay and all this stoopidness bout nullifying 82 year old pensioner investments and telling them to brek for themselves until they are 97 is pernicious and bordering on the same demonic behaviour of the Demonic Labour party and I ent giving a feller no honeymoon to lik up de cuntry and den we wondering how we get heah.”

    Everyone we speak to in the real world about this are STUNNED that a government would send out such a hateful letter to people from their 40s to their 90s…who are ALL susceptible to STROKES, HEART ATTACKS….and ANXIETY ATTACKS..

    … was a brutal uncaring letter that some believe was designed and meant to kill these vulnerable people…in order to keep their money.

    ….that letter has the fingerprints of the land fraud thieves and criminals for lawmakers in Mia’s government who hate the elderly but love to steal from them…..all over it.

    Liked by 1 person

    Now we have The Gathering 2020 as in the horror movie
    “Yes, we will gather at the river, the beautiful the beautiful river”

    Could you let me know which month is reserved for Christ Church? I wouldn’t like to land e.g. in the month designated for St. Peter and lie to the Immigration Officer that I am from Pico Tenerife.
    April is St. Joseph month because of Grantley which reminds me that in 2019 Easter Sunday is April 21st and I recall that in most years Easter is always in April, a few years ago when I was in Barbados the following holidays fell in close proximity.

    Good Friday
    Easter Monday
    National Heroes day
    May Day
    Whit Monday

    Five holidays within a 5-6 week period and I thought why did I leave Bim? National Heroes Day is 4 days prior to May Day. Here is my suggestion could the powers that be move National Heroes Day to October as there are no holidays in September or October? I realise that it there is a political element which may preclude that or eliminate Errol Barrow day and include him and Grantley in the single National Heroes Day in October.

    The suggestion re Barrow and Adams will offend people in both camps which is a good thing


  • Again…what is the Mia government waiting for, there is NOTHING LEFT to ROB from the PEOPLE…time to get creative, innovative and progressive, issue some licenses and permits to the people who already have the skills and experiene with Cannabis…and get to work and get the island moving..

    I understand there are people in the MAJORITY POPULATION who are ready to start…but the government is still sitting on its ass and not making any intelligent moves forward.

    “Scientists in U.S. Given Approval to Import Cannabis Material From Canadian Site
    Oct 08, 2018 | By Alexander Beadle

    Scientists in U.S. Given Approval to Import Cannabis Material From Canadian Site
    The U.S. government has broken from its usual hard-line stance on drug regulation and border control to allow a Canadian cannabis producer to import its product into the U.S. for medical research.

    The decision, which is the first of its kind, will allow a research group at the University of California San Diego’s Center for Medicinal Cannabis Research to access cannabis capsules produced by Tilray Inc., a cannabis research and cultivation company based in British Columbia. Researchers will use this imported cannabis to evaluate the usefulness of cannabis medicine in treating neurological tremors.”


  • @pieceuhderockyeahright October 10, 2018 9:31 PM “… i have an inventive accountant!!”

    Is that the same as a damn criminal minded fella?

    Liked by 1 person

  • @pieceuhderockyeahright October 10, 2018 9:31 PM “…plan is not going to work because it seeks to tax people.”

    Why do you seek to make taxes seem like a bad thing?

    Taxes are good.

    Repeat after me.

    Taxes are good. Taxes are good. Taxes are good.

    Taxes are the thing government uses to provide services, such as policing, to protect the properties of the rice. Because we poor people have nothing worth protecting.

    Roads for the rich to drive on, because we poor people walk.

    Education so that the capitalists can have a useful work force. Because we poor people have no capital which needs a work force to multiply it.

    Maternity benefits when poor women deliver children, otherwise known as the new work force, delivered and raised by poor women. Because rich women don’t have many children.

    So can you explain why rich capitalists seek to avoid taxes? Mek it real simple so that even I can understand.

    Do capitalists really believe that a healthy, productive work force drops down from the Kingdom of Heaven?

    If so do they also believe in Santa Claus? And the Tooth Fairy. And the Easter Bunny?

    Simple Simon who does nor believe in capitalist myths

    Liked by 1 person

  • @Sargeant October 11, 201811:10 AM
    “Good Friday,
    Easter Monday
    National Heroes day
    May Day
    Whit Monday
    Five holidays within a 5-6 week period and I thought why did I leave Bim?”

    Barbados has 11 public holidays, Canada has 11 public holidays, the United States has 11 public holidays.

    We don’t want public holidays in September/October, because it rains a lot in September/October.

    What do we suggest we plan to do on a September/October public holiday when it is raining 9 or 10 inches?


  • @ Sargeant

    [[[De Ole Man only send dis item to you cause you semm to be a good feller who is patriotic and you want to do your patriotic duty

    Here is one of the preliminary tickets for The Gathering 2020 as opposed to a “Bim I Cumming Home” or something Bajan bout we nabul string buried deah or sumting

    But I only send dis to you so I gine be very disappointed effing you disclose it to udder bajans Sargeant… ]]]

    I even use 3 square brackets


  • I got this feeling this lady is going to outlive both Dale Marshall and George Payne.


  • From behind a paywall, so I just c&p the relevant details…
    “SOL operates 526 gas stations in the Caribbean, and distributes and sells fuel in 23 countries…SOL also has 32 import terminals, seven pipelines, three marine berths and 10 ships…Under the deal, Parkland will get three-quarters of the shares of SOL Investments and SOL will acquire a further 8.4 per cent of Parkland’s shares, lifting its interest to 9.9 per cent. After two years, Parkland will have the option to buy – and SOL will have the option to sell – the remaining 25 per cent of SOL for 8.5 times adjusted earnings before interest, taxes, depreciation and amortization.
    Parkland will finance the deal with $1.1-billion of debt as well as the $518-million it will garner from issuing the shares to SOL, the companies said.”

    Liked by 1 person

  • Dear Piece:

    Do you have something against single, elderly, black women?

    Did we perchance steal your joy?


  • @ Simple Simon,

    No i ent have nothing against sigle elderly black women (especially if dem look like Glennis and Fleur which some of you do heheheheheh)

    But is am unsure as to the context of your statement…is it with regard to the posting about the Gathering 2020?

    I see that it is not a programme that has been given much coverage by the Mugabe administration.

    The context of witches is not to single our elderly women Simple Simon it is set against the Inane Name of “The Gathering 2020” which is a programme that Mottley recently announced.

    It would appear that the local news media has not seen it as yet but @ Sargeant was able to reference it in his recent post on the subject.

    Its being circulated among bajans in the diaspora but does not seem to be visible in Barbados as yet

    That is really interesting because one would think that home drums beats strongest…


  • @ pieceuhderockyeahright,

    Was up till 3 am watching videos of the NOT elderly Glennis. lol

    I did share in the Diaspora corner.

    Needed a distraction from the depressing news about the plight of pensioners in Barbados.

    Liked by 1 person

  • pieceuhderockyeahright

    @ Brother Hants it is indeed a sad commentary when you arrive in your Golden Years and your Government unilaterally decides to give you its Bersion of Golden Showers, and to unceremoniously piss on your pensions and gratuity WHILE YOU ARE YET ALIVE.

    For whereas its two well known highwaymen Pain and Teets did conspire and give substandard care to Ermine Atwell and then AFTER SHE DIED, proceed and steal her property by rewriting her will, this is even worse.

    Such is the puffed up power imsginstionx of Mia Mao Mugabe Mottley that, EVEN WHILE THE OLD PEOPLE ARE ALIVE, MIA and her crew of 26 highwaymen HAVE CONSPIRED TO TEIF THE PROPERTY OF THESE PENSIONERS IN BROAD DAYLIGHT!!


    In this case thousands of pensioners are alive and kicking and Mugabe has decided who will live, AND SPDND THEIR PENSIONS AND SAVINGS, and who will be made go suffer for 13 years and never get a cent.

    But don’t forget Brother Hants

    Mia Mugabe Cares!!!

    Liked by 1 person

  • pieceuhderockyeahright

    @ Brother Hants

    You must be sleeping all like now.

    De ole man may not be able to observe the public relations fiasco at 5 PM when Mia Mao Mugabe will be spewing another set of bovine excrement to the party faithful.

    So I lef de fort to you to report de lies spewed.

    I know you going be brief in what you share wide me, cause Glennis and Fleur got a show later dis evening so you ent going prolong the garbage she says too long in your synopsis AND MISS DEM BEAUTIES


  • Vincent Codrington

    @ Northern at 8:05 PM

    Purchasing SOL with proceeds of a loan and an issue of shares in Parkland. What a fine piece of Financial engineering?


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