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The BU Intelligentsia is a talented crew. If there is doubt the following Ode was posted to the Walter Blackman’s Political Insights blog by the man from the Great White North.

“The time has come”, the Walter said,
‘to talk of many things’
Of NIS, and severance and quivering rears
Of politics and of stings
And why the ? LP’s always rule
And whether touts can sing.

“But hold your horse” the rum shop cried
Before we shoot the breeze
For some of us party hacks,
And most are retirees
“No hurry” said the Blogmaster,
And they thanked him for the ease.

“Analysis by colour” the rum shop cried
Is chiefly what we require
Pepper and Salt otherwise
Fulfill much of our desire
Whatever the intended topic
Let skin tone fuel our fire.

The winds today are rather cold
And snow covers the town.
To add to all this Covid mess.
the city’s once again in lock down.
So with little else to do
I sit and watch the discussion on hue.

NorthernObserver


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237 responses to “Ode to Lack of Transparency @NIS”


  1. @ David.

    Let me just make what i said clear before the party loyalist chime in. THE FUND WAS MIS MANAGED BY BOTH PARTIES.

    Sinkler devastated the fund with his printorama specail forcing the fund to hold billions in worthless paper. Then this party came along and did the debt restructuring with no plan as to how they would refinance the funds annual income shortfall from the slashing of the interest on the bonds from 7 to 1 percent. From the time the restructuring was announced a clearly defined plan should of been made public on how the $120M roughly income shortfall was going to be financed annually for the fund.

    Even before all this the fund was allowed to go unaudited by both parties, so all of them got to hold some blows on the NIS fund and where it is today.


  2. Oh dear, here we go again.


  3. NIS did not get back a dime from the stolen apes hill land scam….they took up taxpayer’s money and put another 25 million dollars of Black people’s money in it thought, while the people suffer…because it benefits them and the thieves and racists..

    sellout niga syndrome.


  4. The NIS made a decision to leave their debt in the new entity as a shareholding. The improved project which is valued at a $60 million dollar improvement should therefore mean the NIS shareholding will increase the same way other shareholders investment will.


  5. @ John A

    Two wrongs do not a right make. The NIS should not be lending money to COW Williams. He should be forced to go to the money markets or sell out.
    The NIS is not fit for purpose.

  6. NorthernObserver Avatar

    @DrGP
    Jack and his fraternal companion Jill, ascended the perpendicular peraltitude for the express reason of aquatic exploitation
    Jack, defying the laws of gravity, forfeited his equilibrium, and sustained severe lacerations to the dorsal segment of his cranium
    Jill followed suit with perambulatory revolutions
    I see we had the same English teacher
    You are correct, mine was a bunch of puerile jibberish.
    The thrust of which was repeated again today. And is everyday.


  7. Setting puerile “prose” aside, this is indeed a serious issue that needs to be addressed by the masses. Unfortunately, most Barbadians simply do not believe that a government can run out of money or be so callous to the extent that the fund will not be topped up somehow. They do not understand the NIS and how it is set up. And so the mind-blowing situation that financials of such import are not up-to-date sails over their heads as does the unwise use of the fund.

    Even in the face of the illegal seizure of the pensions of disabled medically unfit retirees and the enforcement of pension laws against retirees a while back, what governments are trying to do and what it means for workers has not yet hit home. Indeed governments seem quite prepared to leave workers in the lurch. There are government entities doing all manner of things like hybrid contracts for services and contracts of service that are neither fish nor fowl resulting in workers being dispossessed of their rights.

    And… court judgments for compensation being ignored as is the case at Dodds Prison and Trevor Browne as well as today’s featured case of the BADC pension rights that seem to have disappeared during the merger with the BMC to become the BADMC despite a court judgment to the contrary.

    And so I am not at all confidant that workers have nothing to fear regarding the NIS leaving them in the lurch through lack of funds or that the new pension laws emanating from IMF ordered review will not leave workers struggling to survive in their old age.

    I am only confidant that MPs will fly above the fray retaining their generous pension terms while still able to earn a salary.

    At least …until enough Bajans get desperate. Then I think the government will have to look for holes.

    With Caswell in hot pursuit!


  8. NO.
    ARE YOU SAYING THAT YOU CAME UNDER THE TUTELAGE OF THE ONE AND ONLY G.O BELL AKA DING DONG OR GOBELLS? IN WHAT YEARS WERE YOU SO BLEESED SIR?

    DO YOU REFER, PERCHANCE, TO HE WHO ONCE PRONOUNCED TO ERRANT LADS AT THE SOUNDING OF THE LUNCH BELL ” THE TINKILING APPELATIONS OF THE SONOROUS METAL INDICATES THAT YOUR PERIOD OF NOURISHMENT HAS ARRIVED, BUT YOU SHALL BE DEPRIVED THEREOF, SO SUBSIDE.

    OR
    YOUNG LAD. ASSUME THE PERPENDICULAR. AND IN THAT POSTURE ADVANCE TO YON VENDOR OF EFFERVESCENT WATERS AND PURCHASE ME THE SMALLEST MEMBER OF THE COCO COLA FAMILY

    “HEAVENS TO DING DONG!: I ONCED CHIMED AT THE SOUND OF THE SCHOOL CLOCK ANOUNCING THE TWELVE A CLOCK HOUR, SIMULTANEOUSLY WITH THE PORTER BRINGING THE SCHOOL BELL INTO SONG

    NOW THOSE ARE EXAMPLES OF PROSE LOL

  9. NorthernObserver Avatar

    @DrGP
    I was so blessed, and a few years after you. Shall we say in his twilight years, but as you can recall, his verbal renderings are a thing of legend.
    Scintillate Scintillate globule vivivid, yon can I fathom thy natures pacific (or was it specific?), loftily poised in the ethos capacious, sweetly resembling the gem carbonacious…I can say the rest but cannot spell it!!!!


  10. @ Hal

    I think the board of the NIS needs to have a come to Jesus meeting with the minister and by extension us the shareholders.

    The challenge this board faces is that is has both non performing and under performing assets. Basically it as at the stage where it’s annual income from investment can not support its annual outflows any longer. Hence the need as the PM says for “top ups” from time to time. The truth is if an independent audit was ever done I am sure it would show the fund needs a complete refinancing.

    This then leaves the board where it is forced to chase more risky investments with the hope those high yield investments would help to soften the loss on all the none performing paper from Sinkyuh and overpriced real estate holdings. It is a very slippery slope the fund is now on and i am telling you nothing short of a total refinancing will make it liquid again to the point where future top ups would be unnecessary.


  11. NO
    THIS ONE IS NEW TO ME
    ACTUALLY HE DID NOT TEACH ME BUT I HAD HIM IN 6TH FORM FOR A CLASS CALLED CURRENT AFFAIRS
    ID LIKE TO HEAR THE REST THANK YOU
    LATER IN LIFE I MET HIS BROTHER, WHO WAS A PIONEER IN OUR PUBLIC HEALTH SYSTEM.
    TWAS HE WHO WAS TRYING TO GET ME TO RETURN TO MONA IN THE 90’S TO DO MPH. I REGRETFULLY DECLINED. I MIGHT HAVE DONE IT IN THE EARLY 80’S
    HIS BROTHER USED TO LOVE TO HEAR ME PREACH IN OUR ASSEMBLIES CERCA 82-87


  12. @John A

    Understood.

    By any means necessary we have to continue to be strident advocates, it is our Rh money.

    @enuff

    What is your problem, you do not agree we should express concerns about the fund?

  13. Carson C Cadogan Avatar

    HAL NOVEMBER 24, I.34PM

    This is how Barbados is.

    These WHITE BAJANS believe the NIS, the Barbados Treasury, the Vat all belong to them. So they can use them as they like.

    You noticed that they are now lights at the Garrison Savanah??? You think that is by accident???You notice that the Auditor General had a bit to say about the local Lottery??? But no follow up not even the Opposition or he Blog Master????


  14. @ Carson

    I am familiar with the trick of silence. I really feel sorry for ordinary Barbadians who have to tolerate these imbeciles as their leaders.
    I do not think they are corrupt, they are just incompetent. They have the qualifications, but lack the experience and training.


  15. They can’t help themselves with their slave plantation..ah wonder if this is the one the former COP was robbing…the employees, or was it Brinks, they refuse to pay them a living wage and then use them to harass black people.

    https://www.nationnews.com/2020/11/24/g4s-workers-take-action/

    “Some security officers at G4S Secure Solutions (Barbados) are off the job.

    Fed up with the lack of progress in protracted negotiations with management, they assembled outside the company’s offices at Brighton, St Michael, this morning.

    In today’s edition of the Daily Nation, president of the G4S division of the Barbados Workers’ Union (BWU), Ormond Mayers, said among the issues were lack of vacation pay, difficulty in getting annual vacation and no salary increases for the past seven years.

    Mayers said a meeting between management and workers scheduled for November 12 was called off after the former failed to come up with a new wage proposal.

    The company employs over 300 security officers. (SAT)”


  16. Too funny, i can’t help myself, then Professor Shillary went and snapped at, was it the Bishop of Canterbury or is it CoE, when he came around with his faux confession……..🤣🤣…ah guess Sir SlaveTitle is not amused by any of it…

    https://www.nationnews.com/2020/11/24/open-campus-going-global-two-years/


  17. G4S is s British company; all the BWU has to do is involve the British Trades Unions Congress in their fight. Talk to black MPs; bring in the British Labour party. Get outside help.
    No vacation pay? No annual holidays? BWU and ordinary Barbadians must put pressure on the firms that hire G4S guards, such as banks etc. Let them know that if they continue to work with G4S, they will lose custom.

  18. Carson C Cadogan Avatar

    HAL NOVEMBER 24, 4.12 PM

    You are an intelligent man, dont expect that the Barbados Workers Union will do any of that. They are a part of the problem. This dispute was simmering for years and nothing was done about it by the Barbados Workers Union. And now TONI MOORE is one of the gang in the House of Assembly, the dog dead.

  19. Carson C Cadogan Avatar

    HAL

    I know that you mean well, but you are wasting your time.


  20. Carson C Cadogan
    November 24, 2020 3:40 PM

    “These WHITE BAJANS believe the NIS, the Barbados Treasury, the Vat all belong to them. So they can use them as they like.”

    Carson C Cadogan,
    Here is a more accurate statement:
    “SOME BAJANS believe the MINISTERS belong to them. So they can use them as they like.”


  21. Hal Austin
    November 24, 2020 4:12 PM

    “G4S is s British company; all the BWU has to do is involve the British Trades Unions Congress in their fight. Talk to black MPs; bring in the British Labour party. Get outside help.”

    Hal Austin
    After our cadets have gone through the various stages of training and have equipped themselves so well, I hold the view that there is no need for G4S in Barbados.
    British Labour party, my foot.

    Remember, that is MY view.

  22. Carson C Cadogan Avatar

    Is the Barbados Turf Club paying any taxes??????

    Anybody know?????

  23. Carson C Cadogan Avatar

    Walter

    The people are the employers of the MINISTERS, I wish the people would remember that.(the Ministers should remember that too)

    Then they would not cater to the 3% only.

  24. NorthernObserver Avatar

    @Donna
    “this is indeed a serious issue that needs to be addressed by the masses….sails over their heads”
    I had an elderly aunt in my home growing up, she would tell me sometimes, “You are good at questioning and answering yourself”
    One can only lead the horse to water?


  25. @ Northern

    You will never hear a politician say I will restructure the NIS IN no hurry trust me. That is a can of worms no politician will touch 2 years from an election.

    When you increase the retirement age to 70 and increase monthly payments by 30% who going vote for yuh? LOL


  26. @ Walter 4.56

    I do not understand what point you are making about G4S and cadets? Plse explain.

  27. NorthernObserver Avatar

    @JohnA
    I commented elsewhere, the NIS is the perfect wedge issue for any young aspiring politician to tackle. Both B and D carry large NIS scars. The challenge is the sheeple don’t understand the intricacies of the NIS. So will not respond.
    I doubt an age increase (and they are more likely to do a gradual age increase) or a contribution increase, will be any more damaging than a tax increase? If their money gets cut, that’s a different story.


  28. From the IMF reports Barbados has one of the highest NIS deductions in the region. How much higher can they go? What a mess.


  29. @ Carson C Cadogan
    You seem to have a problem with white Barbadians. I don’t think white Barbadians pass laws to keep poor black Barbadians in place, do you?


  30. I have never seen so many excuses for mismanagement, the decapitation of workers and all the rest of nonsense going on in the country.
    We must now face reality and conclude that once again the BLPDLP has successfully conned the populace.
    Shame, and may fire bun down both their houses and carry the : pseudo intellectualuals,deniers, kool aid drinkers frauds , apologists, obstructionists with them.
    They should be joined by those who come on BU every day pushing some Bill Clinton “ feel good “ philosophy which really means that your poverty stricken existence was prearranged by some divine power. Straight out the slave master’s manipulation that you should not complain because you ain’t getting beat as badly as the slaves on the plantation up de road.
    Yes I get a cup of swank this morning Thank yuh Massa ; I going to just enjoy some breeze until yuh ready to cut my arse again.
    The more things change the more they remain the same.
    Peace


  31. This post makes for unpleasant reading. We have the non-payment and the misappropriation of NIS public funds; and the exploitation of G4S workers.

    The politicians appear to be disinteresed in the fate of the NIS institution. Only two questions left to ask: are the native black population aware of this situation and are they bothered?

  32. NorthernObserver Avatar

    @CCC
    I know nothing specific. However, the horseracing model is so economically bad, that beyond a remission of taxes on pari-mutuel sales, admission and programs, I doubt they make enough to have any profits to be taxed.
    As you know, NO BLACK people own, train, groom or ride racehorses in Barbados. The BTC employs only members of the 3% (which incidentally has decreased from 5% when I joined the blog in 2016). As you also know, they forced all the black aspiring jockeys to go abroad, so Patrick and Simon Husbands, Christopher Husbands, Crawford, Hoyte, Griffith, Bynoe, Walcott, Welch. Cumberbatch, Bryan, Samuel, Nicholls, Whitehall (who leads all jockeys in Canada by wins in 2020), Trotman, Callaghan (ooops he’s a 3%er) etc now ply their trade in some white man’s land (and pay taxes there too!!!) The trainer list is too long, but Canada’s #1 trainer is Mark Casse who has stables at many racetracks, and his Canadian one is run by another Bajan, David Adams. Simply manufacturing another fine Barbadian export which isn’t captured by the GDP!!!


  33. Sir Paul Altman resigns, no ICBL dividends

    AvatarArticle by
    Barbados TodayPublished on
    November 24, 2020

    Businessman and real estate developer Sir Paul Altman is the latest member of the board of directors of ICBL to tender his resignation.

    In the most recent file and public notice, the Insurance Corporation of Barbados (ICBL) which was sold to Canadian investors Paynes Bay Finance Inc., announced that Sir Paul had resigned from ICBL’s board effective November 20.

    The notice, which was signed by Chief Executive Officer Geoffrey Scott did not indicate if there was a replacement for Sir Paul.

    The development comes as the former state-owned entity disclosed that it would not be paying an interim dividend to shareholders for the financial year ending December 31, 2020.

    Sir Paul’s resignation is the fourth since the deal between ICBL’s former owner BF&M out of Bermuda, and Paynes Bay Finance was announced earlier this year.

    In September, longstanding directors Juanita Thorington-Powlett and Toni Jones had offered their resignations from the board.

    Thorington-Powlett, a retired permanent secretary, has been a longstanding ICBL director, serving on the board since 2001. Highly regarded for her expertise, she has also been a director of the Caribbean Development Bank and in January, she along with businessman Mark Maloney were appointed to the board of LIAT.

    Jones, an attorney at law who submitted her resignation on September 15, has been replaced by James S. Edghill a Barbadian property development consultant and one of key figures behind the $260 million Hyatt Centric Hotel project planned for Bridgetown.

    Thorington-Powlett was replaced by Vicky Bathija, a businessman who has kept a low profile and has a very limited digital footprint.

    Since the board shake-up in September, chairman and head of BF&M John Wight tendered his resignation from the company.

    BF&M bought the majority stake in ICBL in 2005 for almost US$26 million when Government sought to divest some of its investments in state corporations.

    However, on the announcement of BF&M’s sale of ICBL, Wight described ICBL as an “excellent investment that had run its course over the past 15 years”.

    The other board members are chief executive officer Geoffrey Scott, Gouldbourne Alleyne, Gordon J. Henderson and Jennifer Hunte, the acting director of National Insurance Scheme (NIS), which has four million shares in the ICBL.

    Recently, deputy chairman of the NIS Avinish Persaud announced that the scheme would not be selling its shares in ICBL which would have netted the almost $7.1 million.

    In the current takeover bid offer, ICBL’s board is offering shareholders $1.78 per common share while the stock last traded at $3 per share on the Barbados Stock Exchange, where it is listed.

    One of the island’s largest insurance providers, ICBL had been dogged by a scandal involving its former Chief Executive Officer Ingrid Innes and another senior executive Alex Tasker who were named in bribery allegations which have since led to the criminal conviction in the United States of former Government Minister Donville Inniss.
    (IMC1)


  34. David
    Of course we ought to ask questions. But some of the same people here keeping the most noise supported the payment of two “pensions” last year. They also called for the extension of unemployment benefits. They oppose a larger population too. We’re are yelling and concluding based on feels. Most startling is that we’re behaving as if covid is a fantasy. Should the government not have extended unemployment benefits or should they refuse to pay workers severance where employers fail? Or we are already convinced that the government will not recoup anything from businesses who fail to cover their portion? Talk is cheap eh.


  35. @enuff

    You rebuttal is accepted to a point based on the urgent requirement for the fund to provide support triggered by the pandemic. However, the kernel of most arguments is about the mismanagement; incompetence, lack of accountability over the years by successive governments that has negatively impacted the Fund.

  36. NorthernObserver Avatar

    “We’re are yelling and concluding based on feels”
    sadly, largely true. Why you don’t beg the NIS Board to start filing annual reports? It can be all words, financials to follow later.
    The law provides for a written report AND (not or) a financial report.
    It baffles me how the PM, who asked for an ease and created many hands, could allow the former Chair of the NIS to depart for a Ministerial portfolio, WITHOUT filing a report? I am positive if she was in receipt, she would not withhold it.

  37. Carson C Cadogan Avatar

    NorthernObserver November 24, 6.17 pm

    Thanks for your reply.

    You know that the first thing the DLP did when they came to power, was to forgive a rather large amount of taxes that the Barbados Turf Club owed to the Treasury.


  38. @ Carson

    Thompson gave them $10m. I t was a bad decision.


  39. “They cannot recoup a single cent from any employer because they do not have a judicial decision to enforce,” Franklyn explained.”

    they know that, but they don’t think anyone else does…still trying to hoodwink…liars..

    “Franklyn however argued that there is no basis upon which the employers could be forced to reimburse the NIS .”

    and got the nerve to be fronting.

    “So if you are taking up money from the National Insurance and paying them, then you are taking up everybody’s pension money. The money must come from the severance fund, and if the Government does not have enough money in the severance fund… they can’t go now and take up people’s pension money and use the NIS money again,” Franklyn warned.”

    what a thing..

    Would love to hear why they amended the labor act in the first place, woulld love to hear that explanation…..what could have PROMPTED THEM TO MAKE THOSE CHANGES TO BENEFIT EMPLOYERS AND DISENFRANCHISE WORKERS….frauds….they can’t bring a lie debased enuff to justify…

    “The Prime Minister, however, offered no alternative explanation, interpretation or counter argument to Franklyn’s belief that the temporary amendment to the law had stripped the Employment Rights Tribunal of its power to rule on matters of severance between February and June this year.”


  40. It’s very, very ugly Willaim, everyone is talking about the virus in the parliament selling out, and selling out nonstop and STILL LEGISLATING to reduce the Black population to the most disgraceful slave like conditions and uncertain futures, by giving way their tax dollars and pension money..


  41. Really Enuff! You are singularly focussed on supporting this government to the point of cruelty.

    If you are referring to persons on Invalidity Benefit who are forbidden from baking a sweet bread to sell to supplement their often meagre benefit, you would have to be a devil to wish to take away a pension that they earned by years of service. These people pay into the scheme in the event that invalidity befalls them. If someone say forty years old becomes medically unfit such a person may have a mortgage and children to support. The pension and the benefit together maintain them at approximately the net earnings they would have received if they were still on the job. That makes sense because that is what an adequate insurance policy should do – make you whole. Slashing the pension that they have EARNED by their service would leave them at just over half of those earnings and prohibited to do anything, HOWEVER SLIGHT to supplement them.

    That condemns the vulnerable invalid to a life of poverty with NO HOPE of escape.

    That was never the intent of the law. Caswell already showed that the Invalidity Benefit is more of an extended sickness benefit and not intended to be covered under the Pension Act being used to capture it.

    Such an act would force most invalids into deciding whether to eat while living on the street or whether to starve while living indoors.

    Which would you suggest they do?


  42. My imperfect memory tells me that Gordon Bell (GoBells) taught at Combermere as well as Harrison College, but it is not a clear memory. His Cousin?, Hinkitch Bell, was the Chief Sanitation Officer? for several years. Hinkitch Bell had a son, Ryle, who emigrated early to the US and in latter years was a fairly frequent visitor to quasi annual limes of the Toronto – Bajan exiles. Could anyone be so kind as to correct the details and names I’ve mentioned above?


  43. And before anybody butts in to say that people abuse the medically unfit classification, let me remind of how many doctors one must go through in order to be so classified. There is a way to deal with abusers, if there be any, and those who may enable them. That should not include making Peter pay for the misdeeds of Paul.

    But… considering the layers one must go through, there would need to be collusion between multiple doctors and one wonders what they would have to gain. Much easier to believe that you simply do not understand the nature and extent of the disability.

    P.S. It is my experience that the classification of medically unfit needs to be reviewed. Often those so classified are simply unfit for their current job but quite capable of doing another less physically taxing job.


  44. Ryle Bell was one of the outstanding sportsmen of his generation. I believe he went on to teach dentistry at Howard University. Ryle and Rudi Webster were two school boy greats.
    By the way, whatever happened to Valda Cadogan, another great school girl athlete.


  45. As I said on another blog, an amendment to a law must have a stated purpose. I am yet to hear what that purpose was. What was it meant to fix???? What was wrong with the law as it stood?

    Enuff? This is the time to mount your reasoned defence instead of the nonsense comment you made above.


  46. Correction – prohibited from doing


  47. LYALL
    Gordon Bell (GoBells) taught at Combermere as well as Harrison College, AND ALSO AT FOUNDATION IITHINK but UNSURE
    Hinkitch Bell, was HIS BROTHER AND ONE OF THE PIONEERS OF OUR PUBLIC HEALTH SYSTEM
    Hinkitch Bell had a son, Ryle, who emigrated early to the US.

  48. NorthernObserver Avatar

    @CCC
    lol…so you figure since D or B same thing, that the B’s did likewise?

    @GP
    my recollection is Mr GO was known as goBBles, vs Gobells?


  49. YES NO
    GOBBLES INDEED WAS THE PRONOUNCIATION WE USED TOO


  50. I remember when this govt was in opposition and asked to sacrifice part of their salary in effort for govt to save on expenditures Mottley said Hell No
    Now of all the people to be sacrificing the taxpayers once again to help bail out theifing employers none other than yours truly Mia Mottley
    But then again she does not have to fork out that money solely from her pocket
    If not the answer would be Hell No

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