est. 2007

Barbados Underground

Bringing News and Opinions to the People

More Questions about 40 Million Port Scanners

The following exchange between Citizen Advocate Kammie Holder and Head of Technology Division. Stuart Gilbert is self explanatory- triggered by BU’s blog – 40 Million Port Scanners – True Cost Anyone?
The situation here is interesting because it was under Attorney General Dale Marshall’s watch there was much ambiguity about the cost of building the new Dodds prison. Again more ambiguity without imputing improper behaviour.
– David, blogmaster
On Tue, May 7, 2019 at 8:46, Stuart Gilbert
I read the article on the link you sent and we all commented on it in the office here – $20m per unit is very very high!  To get even close to that number you would have to allow for a full service/maintenance schedule from external engineers (why would you not train local engineers to do it??) and full spares packs for 10 years.  Have the machines already been purchased then?
KR

From: Mac Holder
Sent: 07 May 2019 13:37
To: Stuart Gilbert <S.Gilbert@wi-ltd.com>
Subject: Re: Your recent enquiry – Container Scanner – Ref E51415

Thanks for your response. The government of Barbados just announced they are buying two for US $20M. Thus there is much public outcry.

Kammie Holder

 

On Tue, May 7, 2019 at 5:47, Stuart Gilbert

<S.Gilbert@wi-ltd.com> wrote:

Dear Mr. Kammie Holder,

Re: Container Scanner – Our enquiry ref: E51415

With regard to your recent enquiry about the costs of container scanners it is not as straight forward as you might think – it will depend of the power of the scanner, what you are trying to scan for, whether it is a fixed or mobile installation and therefore whether ground works are required.

As a very rough price guide fixed truck/container scanners are around $1.8m (plus concrete shielding and groundworks) and mobile scanners are around $2.0m  by the time you have added in shipping, spares and training to the above it works out at roughly $3-4m per scanner.  Hope this helps

Yours sincerely

 

Stuart Gilbert

Head of Technology Division

Westminster Group Plc

Westminster House, Blacklocks Hill

Banbury, Oxon OX17 2BS

United Kingdom

M: +44 7943 804888   T: +44 1295 756300

114 responses to “More Questions about 40 Million Port Scanners”

  1. Enuff Avatar
    Enuff

    🤣🤣🤣🤣

  2. BajanFeeParty Avatar
    BajanFeeParty

    40 Million could have paid for Garbage trucks and a few new Buses, So now you know they are up to NO Damm Good!, Crooks , getting more money for Bus un fare, People better look at their focus, when dealing with a Criminal Class with the Crime Minister!

  3. Lexicon Avatar
    Lexicon

    Thanks to the unanimous defeated of the DLP …the gullible Barbadian electorate fell for the BLP political pyrotechnics and now have to pay the price for its stupidity …

  4. BajanFeeParty Avatar
    BajanFeeParty

    Lexicon May 7, 2019 8:05 PM@ there is one thing to be removed by the People and another to be removed by Interpol,

  5. Lexicon Avatar
    Lexicon

    Old Man

    We have to teach Bajans like de Old Man how to make better political decisions instead of falling for all the slick political demagoguery … Now where was the Old Man opposition to the present party agenda during the general election? But surprisingly enough, after falling for all political pyrotechnics of the present party the Old Man suddenly decided that he is apolitical in order to launch his campaign of mudslinging against the very party he praised incessantly on BU and voted for.

  6. TheOGazerts Avatar
    TheOGazerts

    You have the patience of Job

  7. Lexicon Avatar
    Lexicon

    Bajanfreeparty

    Unfortunately, a good education does not equates to critical thinking … a skill that wasn’t present during GP and Old Man time in academia … Faith devoid of works is dead … and a good education amess the critical thinking is to no avail…

  8. WARU, Crazy & Unstable, Hogging the Blog Avatar
    WARU, Crazy & Unstable, Hogging the Blog

    president Enuff..yall got EXPOSED AS THIEVES..AGAIN…..what will it take. WHAT???

    i have to revise my figures…scanners cost 8 million….the thieves claim they cost 40 million and pocket 32 million….THIEVES.

  9. Gabriel Avatar
    Gabriel

    People avoid paying taxes when of if they can,but when decisions like this,if true,are made it can lead to chaos in the collection of taxes.

  10. Lexicon Avatar
    Lexicon

    bajanfreeparty

    Bajans do not have the will nor do their possessed intestinal fortitude to remove anything or anyone from office … Let us face it … Bajans aren’t Jamaicans … as demon possessed as they are …

  11. Lexicon Avatar
    Lexicon

    Bajanfreeparty

    Bajans have too much lipservice but short on action … the last general election conspicuously showed our collective ignorance and our open mouth imbecility … how could you leave the polls collectively thinking that the present government has all of the solutions to all of the country’s problems … then awoke the next day to a nightmare? You can’t put that amount of trust in any human agency …where was the skeptics Old Man …where was the voices of reason GP … all I saw was an election grounded on pure emotionalism …and short on little rationalism … It was liken to Jim Jones leading the gullible to their death in Guyana …

  12. Barbados Underground Whistleblower Avatar
    Barbados Underground Whistleblower

    … all I saw was an election grounded on pure emotionalism …and short on little rationalism … It was liken to Jim Jones leading the gullible to their death in Guyana …
    Xxxxxxxxxxxxxxxxxxxxxx

    YOU GOT MORE SENSE THAN MANY ON HERE ON BARBADOS UNDERGROUND BLOG WHO ATTACK YOU.

  13. Piece Uh De Rock Yeah Right Avatar
    Piece Uh De Rock Yeah Right

    Overnight Leximoron has been promoted to the Oracle of the Delphi.

    It is time to abandon ship.

    Leh me go heah and drop a next Tracing Biopic pun “de Liar” website

  14. Sunshine Sunny Shine Avatar
    Sunshine Sunny Shine

    The only interest I have in this matter for the moment is to see if Rogue Works Mottley will present to the Barbadian people a level of transparency that will justify and prove that every cent of the 40 million is accounted for. Therefore, I am going to assume that when the 40 million was tabulated, it was done according to every item associated with the purchasing and installation of these scanners inclusive of schedule maintenance cost over a period x years and training (going overseas to be trained, or bringing the technocrats from overseas to train) along with any special circumstances not foreseen that can bring the price of these scanners to this highly suspicious fee. The public needs to be made clear why the high figure and not Dale Marshall’s thinking, as I am assuming, that after the wicked, piss poor and crooked showing of the stinking DLP, Barbadians are going to fall for the shite of accepting anything from the BLP, just because we allow them to make history with 30-0 and giving them the bragging rights for having the first female Prime Minister under their party’s belt. In her presentation, if she decides to present, because letting Dale Marshall do it might only kick up more controversial dust, as he is not the most discrete individual and credible at the moment, the itemized break down should be made available to the public for scrutiny so that Mottley can be vindicated instead of vilified. It seems to me with this matter that the BLP and the leadership of Mottley have not learned any lessons from their past mistakes and the many atrocities committed by the stinking lying DLP. However, the mater it is still early days, and the accounts for this 40 million will be made available shortly since Mottley and her many hands intend to serve the people and give them more say in the decision making process of the island going forward, as boldly stated during their campaign of many promises.

  15. WARU, Crazy & Unstable, Hogging the Blog Avatar
    WARU, Crazy & Unstable, Hogging the Blog

    None of that will come to 40 million dollars, this is the usual ripoff, syphoning and funneling of taxpayers money that both governments have engaged in over the last 70 plus years…against the population….even though they now have NOWHERE TO HIDE WHAT THEY STEAL…they will still STEAL…even though the WORLD IS WATCHING…they will still ATTEMPT to steal….the master plan…the big HEIST..

    what ah want to know is who they tief from that put a CURSE ON THEM and they CAN’T STOP TIEFING…wuhloss…maybe we should take a trip to West Africa and see if they robbed somebody down there and got FIXED…for good, or if they set up a West African descendant…..and the ancestors are up and about…..we done know how they LOVE to set up people …they been doing it for DECADES… and now because of it the RETRIBUTION and KARMA.. are rocking steady..

    There is ALWAYS A SETUP…ALWAYS A SCAM….without deviation…that is all these thieves know, they can’t help themselves..

    ah hope they went interfering in West Africa….oh how i hope they did..they think our ancestors play their shite games…they will learn otherwise.

  16. WARU, Crazy & Unstable, Hogging the Blog Avatar
    WARU, Crazy & Unstable, Hogging the Blog

    Yall interfered in something in the 90s that u had no goddamn right touching, NO RIGHT and for YOUR CRIMES AGAINST HUMANITY…you will pay…and that is .not to mention THE GREAT SETUP……remember that one….that caused DEATH and that will haunt ya backsides for the balance of your wicked, miserable, thieving criminal lives..

    yall think people don’t know, bad luck for yall…ya can’t kill everybody, ya can’t lock up everybody and ya can’t have everyone committed to an asylum…ya have reached the end of the line…YOU ARE DONE…

    The evil things you do follow you…and will continue to follow you …everywhere..

  17. lawson Avatar
    lawson

    These machines are of great concern to workers at the port….can you get in trouble for using them to heat up your food at lunch time.

  18. abhishekpawar1157 Avatar
    abhishekpawar1157

    Thanks for sharing a nice article post.Interesting blog. It would be great if you can provide more details about it. This blog post totally useful for questions about 40 million Port Scanners . Thanks for sharing such informative useful information.Government Jobs

  19. WARU, Crazy & Unstable, Hogging the Blog Avatar
    WARU, Crazy & Unstable, Hogging the Blog

    Bajans need to ask the Barbados government about the information they have on the AFRICAN BLOODLINES of the majority black population….information they have in their possession..AND NEVER ONCE TOLD THE BLACK POPULATION THEY HAD THE INFO.

    Send ya imps out to tell me ah lie and ah will tell the WORLD…what you evil bitches did..

  20. Fractured BLP Avatar
    Fractured BLP

    Dale Marshall and his $ 40 million ……Port Scammers !

    David BU

    Will you be one of the bidders for this project !

  21. TheOGazerts Avatar
    TheOGazerts

    You guys are wicked.

    Port scammers???

    The equipment or the minister??

  22. TheOGazerts Avatar
    TheOGazerts

    During the elections the BLP demonstrated a sound understanding of social media. Indeed, they had their opponents looking like Neanderthals.

    What the BLP did not learn is thAt the old way of doing business is under scrutiny.
    No more magical numbers
    No more ‘the minister said so’
    There is a need to state BDS or US $
    Google now allows a person to sit in cheffete and source parts all over the world.
    No need for high price consultants to source parts.
    Email now allow inquiring minds to contact businesses in the rest of the world.
    The ‘Old party faithful’ are dinosaurs.
    They are cheerleaders and not visionaries.
    They say yes even when a no is more helpful.
    The dodo bird is more useless than a yardfowl.

  23. Georgie Porgie Avatar
    Georgie Porgie

    WUNNA FELLOWS GOT TO UNDERSTAND THAT THEY HAVE NOT BEEN MANY PROJECTS IN DE FIRST YEAR OF THE BLP SCAMINISTRATION

    AND THAT THE SCAMMERS IS DE FIRST REAL ONE DAT LOOKS FEASIBLE TO MEK A BIG MONEY PUN

  24. Stopdatheftmakebimgreatagain Avatar
    Stopdatheftmakebimgreatagain

    The IMF team is in town right now. I think it would be wise for Miss Holder to inform them of this latest proposed purchase. I have a feeling they may hold back on their 49 million USD draw they are allowing when they learn about this attempted 20 million USD scam.
    The next people to message are the lawyers and bankers for the foreign bondholders of Barbados USD debt. Going to be hard to negotiate a restructuring if they see the government is willing to scam 20 million rather than pay their debts.
    Last but not least, the USA Embassy and DOJ may be interested in this as if one dollar is pushed through a Miami account of the spammers involved in this they will be scooped up and dropped in a cell along with Honourable Mr Innis
    Hoping Miss Holder can contact all of these people

  25. Stopdatheftmakebimgreatagain Avatar
    Stopdatheftmakebimgreatagain

    Sorry about previous post. It’s Mr Holder damn spell check was reversing
    Go get em Kammie

  26. Sunshine Sunny Shine Avatar
    Sunshine Sunny Shine

    Rogue Works Mia Mottley has to address this matter. She promised a lot, she changed a few things base on personal interest and now she must tell the Barbadian people why 40 million and who along with DALE MARSHALL consented to fork out 40 million when the email exchanges in this matter are telling another story. Where is the accountability and transparency that Mia Rogue Works Mottley talk about on the campaign trail? Smoke and mirrors I bet ya.

    Where is Puffie when I need him. Oh Puffie. Puff Enuff honey, where are you. Still waiting for that breakdown baby. What taking ýou so long? Its Miss EU MM babes.

  27. Kammie Holder Avatar
    Kammie Holder

    My research is not about politics but to avail myself to information the public needs to in the absence in a Freedom Of Information Act. I decided to share after the persons in UK found it funny. We cannot as ordinary citizens not question government we are curious about.

    The church and civil society organizations must put aside their desire for handouts, social invites and fraternal connections in the name of transparency. Therefore let’s not impute any nefarious motives in the absence of full disclose.

    Let me be also fair and state a Canadian company did approach me through and international connection to connect with GOB in 2016/2017 to discuss a system for the scanning of containers as well our lax airport scanning.

  28. Sunshine Sunny Shine Avatar
    Sunshine Sunny Shine

    Kammie Holder

    Not about politics my ass. It is the tricksy politics from both political parties that got Barbados in all these messes. If it was not about politics and the shite that these elected political parties tend to do, you would have never sought to investigate why two scanners can cost so darn much. The motivation behind your desire to ascertain this information was because you, like all of us, know that both political parties have enriched themselves of-of taxpayers backs for mule years. You also know that they have done it through big name projects where it is easy to toss in an additional 20 million in a project that cost 90 million. No one would be the wiser because the magnitude of the project as stated by the elected officials leads you to believe that it is so big, the big millions are justified on their say so. You also know they can do this because of no FOI legislation in place so the public will never get to see the breakdowns. Its all about politics, even if you have to walk a tight thread. After all, Kammie Holder, we were simply to accept the Attorney General Dale Marshall’s announcement that two scanners will cost 40 million and gullible Barbados would believe it to be so. Not for shite! Say it with me Kammie: NOT FOR SHITE!!!. Dale Marshall would have to be a kubba to think that after the DLP hit bajans hard, and the BLP for 14 years got all arrogant and start doing shite along crookery lines as well, that he can come and announce 40 million as a slam dunk and his illustrious title of AG seals it to be so.

    KAMMIE HOLDER- TAKE A BOW; SIR; I SALUTE YOU. RESPECT!!!!!!

  29. WARU, Crazy & Unstable, Hogging the Blog Avatar
    WARU, Crazy & Unstable, Hogging the Blog

    Only because Dale Whistleblower was CONVINCED…he would get away with that clear case of THEFT and SKIMMING…but THEY ARE DONE…they better believe …THEY ARE DONE.

  30. Kammie Holder Avatar
    Kammie Holder

    @Sunshine I need no accolades for my conscience and common sense is never up for lease, rent, hire or sublet. Too many in this country believe they are above reproach be it judge, magistrate, politician, CEOs and even yardfowls. Who will break up the wutless cleets viciously sucking the blood of docile Bajans.

    In 2018 Barbados voted for change and transparency..the cannot expect to get a passing grade if they public demands transparency.

    Attending some foreign governments functions it’s apparent a lack of FOIA in Barbados is also a major concern. It always shocking to know that amount the foreign governments Political Officers are aware of as it relates to what’s happening on the ground…..I never drink any truth liquor aka alcoholic beverages and try to listen attentively to the questioning among the crowd as they lap up the free food and drink.

    It’s my opinion many prefer a docile sheeple persona and to be passionately assertive is to be labelled a Trouble Maker by the unknowingly/knowningly Nefarious.

    I am no threat to national security so it’s does not matter if my phone and emails are tapped.. If speaking dispassionately and the unpalatable truth about the need for good governance increase the Special Branch file folder on my mouthings that’s okay for cowards die a thousand deaths At the end of my life journey I would not have the common death bed regret of wishing I had spoken out more. My conscience is clear in demanding good governance. Time to get back to my studies so this is my last post on this topic.

    #GoatsieSheepleSyndrome

  31. Barbados 2019 Avatar
    Barbados 2019

    @ Kammie Holder

    @Sunshine I need no accolades for my conscience and common sense is never up for lease, rent, hire or sublet. Too many in this country believe they are above reproach be it judge, magistrate, politician, CEOs and even yardfowls. Who will break up the wutless cleets viciously sucking the blood of docile Bajans.
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

    I SALUTE you as you appear to be a genuine PATRIOT.

    One group I would add to the ongoing corruption and breakdown in Law is the Barbados Police Force itself involved in gun smuggling and selling, human trafficking, drugs, bribery, fraud, planting evidence and beating of ‘confessions’.

  32. Sunshine Sunny Shine Avatar
    Sunshine Sunny Shine

    Kammie Holder

    Commonsense is not so common amongst bajans and the few that utilise it are the few that choose not to be bought. Just like free conscience, you know that you have not sold it for 12 pieces of silver. Power tends to purchase people. I am glad that you are not bought. Take a bow and go and study.

  33. FearPlay Avatar
    FearPlay

    Somehow I do not get the feeling that the IMF WOULD sit back and allow anything of this sort of thing to take place as is being suggested. I am also of the opinion that anyone with more than two marbles in his or her head would not be so crass as to risk this behavior while Barbados is under an IMF structured and supervised program, but that is only my opinion.

  34. FearPlay Avatar
    FearPlay

    Don’t get me wrong, vigilance is the name of the game and I commend those who have taken it upon themselves to question purchases of this quantum. I pray never to have another set of scoundrels such as the last ever to be foisted upon this country again.

  35. Hants Avatar
    Hants

    Instead of writing shite can anyone tell us how we can see the PRO FORMA INVOICE for the scanners or at least the PROPOSAL TO SUPPLY said scanners.

    Since there is no FOI in Barbados we will need a whistle blower to inform us.

  36. David Avatar
    David

    @Hants

    It is amazing nobody in government has felt compelled to clarify this matter. This is a government that was highly critical of the silent and non transparent former government while in Opposition.

  37. Piece Uh De Rock Yeah Right Avatar
    Piece Uh De Rock Yeah Right

    @ the Honourable Blogmaster

    “…compelled to do what?…”

    Is marijuana already legal there in Barbados??

    Cause with you using words like compelled, IT IS OBVIOUS THAT YOU ARE ALREADY SMOKING

    The only thing Mugabe and her crew are compelled to do IS STAY BLACK, KEEP TEIFING AND DIE!!

  38. Dexter Avatar
    Dexter

    @ David..
    You are “amazed that no one in government feels compelled to clarify this matter”

    In the pseudo democracy of Barbados, where there is…

    No Freedom of Information legislation
    No integrity legislation
    No accountability in government
    *The press & broadcast media is gagged, and heavily restricted.
    *Where widespread corruption and mismanagement is accepted.

    Why would anyone in this or the previous governments feel compelled to clarify anything?

    The ministers simply ignore the electorate until the next election cycle.. because there is NO accountability.

  39. Fractured BLP Avatar
    Fractured BLP

    David

    How is it that you appear ‘ surprise ‘ by the silemce of this BLP government now that they are in office ?

    Here are a few reminders to reflect on while they were in opposition ;

    Coverley housing project was condemned as a ‘ failed project ‘ of the Dems ….by the BLP ……once in power , Coverly became a Godsend for the Bees …..even for Ross University students & faculty !!

    Hyatt project was condemned as a ‘ disaster ‘ of the Dems….by the BLP….once in power , Hyatt became a Godsend for the Bees…..go to March 11, 2019 Advocate newspaper and see a Section 3 notice to compulsory acquire land near the Hyatt proposed site to build the hotel on !!

    The current Governor of the Central Bank & Director of Public Prosecution were bad choices by the Dems……cried Mia Mottley…..she is the PM now……the 2 appointees are still office !!

    Garbage on the streets were an ugly sight & lack of leadership by the Dems…..BLP in power……. May 9 , 2019 and Barbadians still complaining about garbage not being picked up on time……the SSA General Manager says……the close proximity of Bank Holidays recently….severely affected pick up of garbage ……islandwide !!!

    The wicked Dems increased BWA water rates by 60% ( cried the Bees ) ……now in power……the BLP mek every Bajan pay a minimum $ 45.00 MORE monthly on their BWA bill….whether you get water or NOT…..for the said month !!

    And as Buju Banton sang……I COULD GO ON & ON…….( the BLP never told the TRUTH ) !!!!!

    A set of Blasted Lying People – BLP !!!!

  40. Sunshine Sunny Shine Avatar
    Sunshine Sunny Shine

    Surprises!!! Compelled to do the right thing in Barbadian eyes by putting up a psuedo front to give the impression that public relations will improve and increase, that the people will have more say in the processes that can change the course of their lives. Certainly, some people would do well to keep their little hidden secrets a secret instead of giving the impressions that they are surprised when history has proven these two political parties to speak ever so often with fork tongue. Its a year gone now, I believe, and Mottley with all her fancy talk stated the following_

    ‘—-‘Prime Minister Mia Mottley has given the assurance that neither the current Barbados Labour Party (BLP) administration nor any future governments will be allowed to “operate under the cover of night”.

    ”…promised that all politicians and ministers would be held accountable for their actions in the future…”

    ” “We all went confident in the knowledge that Barbados could no longer be governed by people who did not feel it was their solemn duty to be transparent in the management and accounting of expenditure to this country.”

    ”…we made it absolutely clear that we could not seek to come after a Government that had exhibited the highest form of banditry, wickedness, covert activity in the expenditure of the taxpayers’ money and be anything other than absolutely transparent with respect to the management of the people’s funds,”…….

    Where is the transparency concerning this 40 million? After all, it was made abundantly clear that this government will not come after the last government and exhibit any similiar banditry, wickedness, covert activity in spending taxpayers dollars and be anything other than absolutely transparent.

    SURPRISEEEEEEE!!!!!!

  41. Hants Avatar
    Hants

    Barbados could earn up to $1 billion from the medical marijuana industry.

    https://barbadostoday.bb/2019/05/09/herb-payday/

  42. Fractured BLP Avatar
    Fractured BLP

    This is easier to follow and read:

    Barbados creditors fume at ‘absurd’ $27m advisory fees

    London-based boutique, White Oak, in line for payout for work on $7bn restructuring

    “White Oak’s engagement letter was signed five days after Mia Mottley was sworn in as prime minister last year…”

    May 9, 2019 8:30 pm by Colby Smith in New York

    A little-known UK advisory firm stands to make about $27m from the restructuring of Barbados’s $7bn of debts — close to what Lazard earned seven years ago when it advised Greece on defaulted debt nearly 40 times bigger.

    White Oak Advisory is a small firm with just two partners located opposite Claridge’s hotel in London’s Mayfair. The size of the fee it will receive from its work on the default has outraged the Caribbean island’s creditors.

    “The fee is absurd given the size of the debt,” said Sean Newman, an Atlanta-based portfolio manager at Invesco and a member of the external committee of creditors. “I’ve never seen anything like this in my 20 years in the business.”

    White Oak was founded a decade ago by Sebastian Espinosa, a former Houlihan Lokey banker, and David Nagoski, an ex-US Treasury Department official. It will earn about $27m from the bankrupt country, according to FT calculations. That is almost double what Ukraine paid for advice on its $18bn restructuring in 2015, according to people familiar with the deals.

    The Bajan government hit back at the creditor criticism. “We believe it is excellent value for money given that through their efforts we have saved over $1bn of interest and principal. We would hire [White Oak] again.”

    White Oak’s engagement letter indicates that the Bajan government agreed to pay the firm just over $21m for the successful restructuring of its roughly $5bn of domestic debts, excluding arrears. The letter was signed five days after Mia Mottley was sworn in as prime minister on May 25 last year, and two days before the government announced it was defaulting on its debts.

    By any metric or rationale, the fee is outsized and unwarranted.

    Sean Newman, Invesco
    Negotiations with external creditors are ongoing. Once complete, the government is set to pay White Oak about $4m for restructuring approximately $910m of debt owed to foreign investors. The firm is also receiving an $85,000 monthly retainer.

    It is likely to take at least another 12 months to finalise the deal, according to another person involved in the negotiations. The additional $2m in monthly fees brings the total payout from Barbados to roughly $27m.

    “It is a disproportionate fee for a small country,” said one financial adviser.

    “Barbados is not Greece, which had a massive debt stock, multiple debt instruments and huge political tensions,” the financial adviser said. “Double-digit fees are for very large transactions that are super complicated with a large number of instruments and a large number of different creditors.”

    White Oak’s partners said the fee was justified because “placing this debt on a sustainable footing has required an unusually complex operation”. Its rates are “among the lowest charged in any Caribbean restructuring, again in relative terms”.

    Barbados’s debts came to roughly 160 per cent of gross domestic product at the beginning of the restructuring in June last year, among the highest in the world.

    Mr Espinosa and Mr Nagoski point out that their business in the country goes beyond the public restructuring and that they are not charging a fee for additional work. The pair say they are advising Barbados on several commercial contracts, as well as the restructuring of a number of state-owned enterprises and the country’s regional airline, of which the government is the largest shareholder.

    However, few Caribbean debt restructurings have paid out fees in the tens of millions to financial advisers in recent years. Citigroup earned roughly $3m restructuring Jamaica’s $9bn of defaulted debts in 2013, and in Belize advisers were paid single-digit millions for the restructuring of more than $525m of debt in 2017, according to people familiar with both deals.

  43. WARU, Crazy & Unstable, Hogging the Blog Avatar
    WARU, Crazy & Unstable, Hogging the Blog

    Wait, is that not the same WHITE HOAX i mentioned only recently when president Enuff PRETENDED that she did not POST the HOAX contract to BU and NEVER even heard about WHITE HOAX and the US85,000 dollar PAYOUT a month before..

    WHAT A THING..lol

  44. Fractured BLP Avatar
    Fractured BLP

    https://barbadostoday.bb/2019/05/10/grant-ssa-not-asleep-at-the-wheel/

    Grant may not be sleeping at the wheel…….but he may be LYING ’bout the deal !

    More trucks……but garbage collection even worse , now !

    Bank Holidays , amongst other things , being blamed !

    Blasted Lying People – BLP

  45. WARU, Crazy & Unstable, Hogging the Blog Avatar
    WARU, Crazy & Unstable, Hogging the Blog

    More SKIMMING and TIEFING…by BLP government…

    check out all their bank accounts,..offshore and business setups in UK…THERE ARE MANY.

    ……WHITE HOAX..some are saying, work directly for the Mottley clan…..it is a SETUP.

    …..check out all the UK setups over the years by ministers, former ministers and tiefing lawyers and their families…….it’s BIGLY..

  46. TheOGazerts Avatar
    TheOGazerts

    One fellow frequently refers to Greece to explain what Mugabe and Co. is doing. Others have repeatedly pointed out that Barbados is not the size of Greece and our economy is not that complicated.

    Now that he is aware that, comparatively, Barbados is paying 40 times what Greece paid and much more Than what Jamaica and Belize paid …. is he willing to concede that the cost of the scanners may also be a scam?

    Just as thieving as the other guys, but smarter at stealing.

  47. Sunshine Sunny Shine Avatar
    Sunshine Sunny Shine

    Oh my God. I am sooooooo Surprise. Noooooooo not Mama Mia. Not give me your vote and watch ma. This cannot be true. Mia Mottley is looking out for our best interest. She just laid off several public servants saving a few million in wages per year. Daddy got a knighthood and is working closely with his daughter to help in any way he can so he must have unrestricted travelling rights. She grants a tax amnesty so Daddy can focus his energy on helping her without distraction and enable all those businesses owing millions to start afresh and pump life back into the economy. She is has the biggest cabinet in the history of Barbados because she has the vision. She is has a large number of consultants because in order to make money ya got to spend nuff money. If she say we need dem consultants then we need them, consultants. Are we not back on right footing again because of MIA? We need to pay White Oaks 27 million because they know what they are doing and if she has faith in them we got to have faith in them too. Forget all the criticism from those concern. They do not know what they are talking about. Mia Mottley is head and tails above them in intelligence and knowledge. If she says that 27 million is a drop in the barrel to save millions towards billions more then it is a small price to pay for saving a billion. Mia is not corrupt, she is just concern and catering to needs. The whole of the BLP is catering to needs, consultant needs, cabinet needs, White Oak needs, and after that all we need- BLP.

  48. NorthernObserver Avatar
    NorthernObserver

    I see Google alerts works as well for Fractured as it does for me.

    “the Bajan government agreed to pay the firm just over $21m for the successful restructuring of its roughly $5bn of domestic debts, excluding arrears.”

    This was egregious. It was a slam dunk. Had public interests not held so much of the debt, then maybe there would have been more of a battle.

    “The pair say they are advising Barbados on several commercial contracts, as well as the restructuring of a number of state-owned enterprises and the country’s regional airline,” After getting $21m for restructuring $5Bn of local debts, surely the $85,000 monthly retainer covered these “extras”. One wonders their role in the Port Scanners, that must be a commercial contract. Garbage trucks, electric buses?? Wonder how a sovereign debt advisory team of 2 can help here, or did they sub-contract this to another consultant?

  49. WARU, Crazy & Unstable, Hogging the Blog Avatar
    WARU, Crazy & Unstable, Hogging the Blog

    Government TIEFING OF PUBLIC FUNDS…at its most ugly…in order of thefts..

    white hoax
    port scammers

    keep a list, try not to get distracted or lost by the NEXT setup…they are BRAZEN and will never back down.

  50. TheOGazerts Avatar
    TheOGazerts

    “White Oak’s engagement letter indicates that the Bajan government agreed to pay the firm just over $21m for the successful restructuring of its roughly $5bn of domestic debts, excluding arrears. The letter was signed five days after Mia Mottley was sworn in as prime minister on May 25 last year, and two days before the government announced it was defaulting on its debts.”

    Whilst others may compliment Mia on the speed of her completing these agreements, others begin to wonder if some negotiations were underway before the elections. I leave it to the legal scholars to determine if this enter the realm of trea… or sedit…. behavior.

1 2 3
Newer Comments

The blogmaster invites you to join the discussion.

Trending

Discover more from Barbados Underground

Subscribe now to keep reading and get access to the full archive.

Continue reading