Tag Archives: UWI

UWI Discrimination: Why no Hindu or Islamic BA Theology degree?

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Submitted by By Dr. Kumar Mahabir

It sits innocently in the Undergraduate Humanities Programmes list, alphabetically bookended by Theatre Arts and Visual Arts. Yet the University of the West Indies (UWI) Bachelor of Arts BA Theology degree is a jarring testament to the religious and ethnic discrimination that still exists in the highest institution of education in our nation, paying lip service to diversity, equity and inclusion as core values.

Taught every year at the St Augustine (Trinidad) campus by members of the Seminary of St John Vianney and the Ugandan Martyrs since 1970, UWI’s Theology degree is unapologetically Christian and Catholic in content. The syllabus comprises courses in Biblical and Pastoral Studies, History of the Christian Church in the Caribbean, Perspectives in Christology, and Principles of Christian Ethics.

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Time to Build Barbados Silicon Valley

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Four transformational truths are Timing, Innovation, Strategy and Collaboration – The Elements of Transformation Strategy

There is the proven that individuals and businesses who continually adapt to the environment in which they operate will likely succeed. If we try to fit how the local public sector has been managing its business compared to the private sector and the world it gives currency to the use of the word anachronistic. Prime Minister Mia Mottley has been a frequent user of the word of late.

Unfortunately as part of government’s objective to modernize processes in the public sector, hundreds of low level, low skilled workers have been retrenched. Understandably concerned Barbadians have inquired why send home workers from the bottom if the exercise is about cutting cost? We have to protect the most vulnerable and we will be holding the government to its word that BERT has an adequate safety net included.

Honest Barbadians will admit  however if the public service is to operate efficiently in the current environment there must be a job redesign. We have listened to successive governments braying about improving business facilitation. It is not the fault of the workers although the blogmaster will suggest this is where trade unions- the workers representative- have failed in the last 25 years to strategically add value to the process of nation building.

It is an indictment on the leadership of Barbados that in 2018 government departments still record transactions in ledgers- documents still require the ‘lick’ of a stamp. The blogmaster supports the requirement to urgently transform from the analogue to the digital. Leveraging technology to efficiently deliver services is a no-brainer.  What is difficult to understand is how come successive Barbados governments have invested billions in education per capita and lag scores of other countries that have expended less!

During a recent press conference Sir Hiliary and Eudine Barriteau of the University of the West Indies (UWI) highlighted that the regional university was ranked 591 out of the 1,258 in the  Times Higher Education (THE) World University Rankings. Of interest is that both of them touched on the ‘technology and innovation park‘ which is promised to open in Bridgetown in January 2019.

In the link provided we are informed the facility will house classes to support a Bsc. Software Engineering degree programme and also technology start-up bushiness to conduct research and development in conjunction with students at the UWI. She also revealed that talks have started with Gabriel Abed of Bitt Inc about supporting new tech start ups.  Beckles also shared this is being done with the cooperation of Chinese Universities.

In BU’s most recent blog – Senator Rawdon Adams Sobering Intervention in the Debt Restructure Debate  Adams asked what kind of Barbados do we need to build now that we have dismantled what was to deliver on the kind of life we want (words to this effect).
Barrow presided over an agrarian economy, Tom Adams shifted to a mix of agrarian and services and Owen Arthur went the whole hog by switching out to a services economy. Given the suspicion how the world views jurisdictions that provide services for international business companies there is clearly an urgent requirement to incorporate new business lines to diversify and hopefully spur economic growth. Feedback so far is that the RERE programme is only a baby step in the right direction, it has to go a lot further.  Making Bridgetown a smart city is a Barbados Labour Party (BLP) manifesto promise. Ronald Jones had responsibility for Human Development and innovation. What was achieved in this regard is not worth mentioning. Pushing more ‘coding‘ in schools is a national imperative.
Although mentioning China is a hot button word for many- a hegemonist is a hegemonist- a look at how it has been integrating technology to create opportunities for its people is instructive.

 

UWI, Cave Hill to LEAD the Charge to Revive Agriculture Sector

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The press report did not list minister of Agriculture David Estwick as among the officials present when the announcement was made this week by Professor Eudene Barriteau.

Professor Eudene Barriteau, Principal of the UWI, Cave Hill campus committed the Cave Hill campus to developing 30 acres of land that was donated to the university by the Edghills of Dukes plantation in St. Thomas a couple years ago. According to the report USD34 million will be spent to develop an agri-business creating 1500 jobs, a break from the trend of planting concrete on arable land in Barbados. Further, the entity will be designed to facilitate training and research for the Caribbean region. One could hear the enthusiasm for the venture by Principal Barriteau as she shared details about what promises to be a transformative project.

The project is to kickoff mid-next year!

She said the project, which is expected to take about two years to complete, would also accelerate the thrust towards greater self-sustainability in food production and food security with a significant portion of the almost 30 acres of land being set aside as agricultural parcels for farming. In addition, the park will accommodate agro-processing and meat-curing facilities, a chocolate manufacturing and training facility, cotton processing facilities, a food standards laboratory, a sewerage plant treatment and recreational spaces…

The project is being funded by the Government of Barbados through its bilateral aid programme with the People’s Republic of China.

Barbados Today

This is good news indeed to observe the premier learning institution in Barbados leading the charge to resuscitate the agriculture sector. The economic pundits have all slammed the door of Barbados pursuing agriculture because of high production costs. We will monitor the debate with interest.

Educate and Produce is the Way Forward

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Submitted by William Skinner

educate-produceEducation is one of the many tools a country uses for progress. Somehow we have convinced ourselves that it is the only tool and it must come in a defined format, which must never be changed. Education like any other national tool must undergo redefining and utilized strategically or it falls by the wayside like any other endeavour that is left to its own devices.

A recent photo of a top university administrator, bedecked in shoes and hand bag made from the black belly sheep skin, is perhaps the most exciting news coming from within the walls of UWI for some time. We recall about four decades ago, our craftsmen were taking the skin from cows and making belts. Almost everybody had a “cow skin belt”. If my memory serves well, I think we had some car seat covers locally made as well. They eventually disappeared because at that time they were seen more as oddities than foreign exchange earners. Nobody thought a tannery would have been a good investment. Nearly three decades ago, we were also told that the same black belly sheep produces a top class meat (mutton) that will be a world beater. Then we heard that somebody in Texas had literally hijacked the black belly sheep by some legal manoeuvre.

On this occasion, the folks at UWI enlisted the services of a tannery in Italy. The Black Belly Sheep Leather Project has local business mogul, Sir Charles Williams, as one the projects top supporters. In all fairness to Sir Charles, he has always promoted the economic benefits of the black belly sheep.

We hope that this project gets off the ground and employment is found and a means of production to produce and market more than the pair of shoes for display on the front page of our papers. We have produced hundreds of university graduates in all disciplines and yet to this very day our country is poorly marketed. We have little or no competitive agro based industries. And we have allowed all our nutritious fruits to fall to the ground as we are more attracted to packaged fruit , grapes and apples from “over way”. The fact that this project will embrace other Caribbean islands where the black belly sheep is found adds to its potential.

This project indicates that the Centre for Food Security and Entrepreneurship of the University of the West Indies is finding its way. It clearly demonstrates that any progressive place of learning should see its role beyond what is mainly found in text books and academic arm chairing.

The Cost of Scholarship

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tertiary_educationThe BU household continues our focus on education by reproducing today’s Barbados Advocate editorial – Barbados Underground

It does not come entirely as a surprise to us that the public discourse surrounding the requirement that Barbadian students at the University of the West Indies (UWI) pay twenty percent of the economic cost of tuition fees for their degree programmes still lingers on more than a year after the introduction of this initiative.

After all, there are many Barbadians who still regard taxpayer-funded University education, at least at UWI, as an irrevocable civic entitlement bequeathed to the nation by former Prime Minister and now National Hero, the Right Excellent Errol Barrow, who envisioned it as one of the building blocks that would enable us to move rapidly from a collection of villages into a nation “punching well above its weight”, as we had come to be described at one time.

On the other hand, there are those, perhaps of equal number, who, for several reasons, consider that the requirement for students to pay fees for a UWI education is long overdue and very much in current order.

Among these reasons is what we choose to term the “just deserts” principle that entails the current cohort being required to pay principally because their predecessors wasted a good thing and spent many years, at the taxpayer’s expense, engaged in studies that should have been concluded much earlier. Had these wastrels not been permitted to be so lax in their intellectual pursuits, the state would have had more means today to provide education to a greater number of citizens.

Another is that, in any event, the new financial order does not permit any entitlement so lavish as universal tertiary education free at source for a “scrunting” third world nation, when some major world powers elect not to guarantee this benefit at all, despite their ostensibly greater access to financial resources.

As a corollary to this, there also exists the notion that little more than a sound secondary education is required for democratic citizenship and that tertiary education should be viewed rather as an investment that the individual makes in himself or herself with the expectation that it will return sizeable dividends in future by way of more substantial remuneration in one’s career.

Earlier this week, the debate was further joined by one former educator, Senator Alwin Adams who advanced the thesis, as is reported in the headline story, “Pay the Cost,” published in the Barbados Advocate for Tuesday, December 6. According to the report, in his written contribution to a recently launched publication, “Barbados: Fifty Years of Independence”, Senator Adams posits the view that university students should pay fees, although at the same time he issues the rider that every student who qualifies should be granted admission to the University.

This apparent paradox illustrates the national dilemma perfectly. We are anxious not to disenfranchise the poor bright boy or girl who has always been there in our educational culture; yet we recognize that it is no longer financially feasible or sustainable to continue the phenomenon of state-provided, taxpayer-funded university education for the numbers that now claim entitlement.

The self-evident solution is clearly a financial one. Whether through directed state funding by way of bursaries or scholarships; through tax incentives or through delayed repayment of student loans, a means must be found to ensure that our best brains are not deprived of an exposure that might inure ultimately to the benefit of themselves and the country because of the prohibiting cost of scholarship.

The current governing administration has already made significant headway along this path by creating additional bursaries based on household need. In this context, the major difficulty appears to be simply a lack of awareness of the existence of this recourse by those that might profit most from it.

The Jeff Cumberbatch Column – The Mirage of Integration (ii)

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Caricom“The Community and Common Market are intended to promote the coordinated development of the region and to increase intra-regional trade thereby reducing dependence on extra-regional sources. The community will institutionalize the machinery for the many shared services, which already exist and which even the most prosperous of the More Developed Countries, could not operate on its own.” –

Errol Barrow, (July 4, 1973) when the Treaty of Chaguaramas was signed, establishing the Caribbean Community and Common Market

More than forty years after the founding fathers of the Caribbean Community [CARICOM] initiated that regional project, the process of true integration, as opposed, perhaps, to cooperation at carefully chosen levels, has been scarcely advanced. Indeed, the three leading institutions that might have served as most cogent evidence of a deepening regional integration appear currently to be battling against the odds for relevance and for their continued existence in their originally contemplated forms.

The University of the West Indies [UWI], an institution that preceded the formation of CARICOM, but fittingly symbolic of the regionally integrated effort in tertiary education and developmental research, struggles to maintain its unitary character through the One University initiative, although the fight may have already been lost so far as the traditional professional disciplines of Medicine and Law are concerned.

West Indies cricket, for decades a highly successful example of what we may achieve together, has succumbed to the effects of indiscipline, inconsistency and shallow concentration of some of its players and is currently placed near the bottom of the world rankings in those longer versions of the game that we once ruled as champions. The recent trifecta of victories in global contests should have captured the popular regional imagination of a soonest return to superiority.

At the same time however, it has served to expose to universal scrutiny the festering sore that constitutes the industrial relation between the players and the West Indies Cricket Board, scarcely a recipe for prospects of future success.

Now, in consequence, some regional heads of state, rather than seeking to use the moral authority of their offices to mend the broken fences between the Board and the players, for reason (s) not immediately clear to this writer, have sought to demand the removal of the constitutionally elected directorship of what is essentially a private organization and to establish some other body more acceptable to them in its stead.

I dealt with this matter in the first part of this essay last week and the suggestion from some readers that the heads of government might, as a last resort, simply refuse to allow the WICB to stage matches under its auspices in their respective jurisdictions is liable to create more problems than it might ever resolve, for all concerned, not excluding those leaders who might think of playing this card.

A third regional body, itself created by international treaty, has suffered perhaps the “most unkindest” cut of all. The Caribbean Court of Justice [CCJ] established by the regional constitution to interpret that Constitution itself, the Revised Treaty of Chaguaramas, and to replace the Judicial Committee of the Privy Council as the final appellate court for regional jurisdictions, has failed spectacularly to capture the regional imagination in its secondary guise.

Four jurisdictions only have found it possible so far to accede to its apical appellate function -Barbados, Guyana, Belize and Dominica- although, to be fair, other voices have been raised in favour of accession, and Antigua & Barbuda has put arrangements in place for a constitutionally required referendum to be able to replace the JCPC which is deeply entrenched in its Constitution as that nation’s final court.

Others appear, however, to languish under the disablement of partisan political dissension, an absence of political will or plain suspicion as to the international allure of any regional court. The insecure regional phenomenon of “how we go look (to others) ” is apparently not restricted to the populace of any one country only.

Not that one would think that the integration project is anything other than alive and well if we are to judge from the lofty aspirational speeches of regional leaders. Hear former Prime Minister of Trinidad & Tobago, Mrs Kamla Persad-Bissessar in 2013, “Our challenge is not to be decisive, not to hesitate, not to reverse, not to turn around. Our challenge is not to delay and loiter over hardship, adversity or difficulty, but to persist and to rally on our course towards the realization of our destiny that our forefathers have set for us…”

And Mrs Portia Simpson Miller, the former Prime Minister of Jamaica, “CARICOM…represents the vision and aspiration of a forefathers for a strong integrated region which would provide the best prospects for economic and social development…”

Another former leader, President Ramotar of Guyana was more realist in his assessment, “…We have studies on transportation, we have the Regional Financial Architecture, the free movement of people and hassle fee travel is vital and very important in helping us to strengthen our integration movement. This implementation deficit needs to be resolved lest we find ourselves guilty of a commitment deficit…”

This observation by ex-President Ramotar, especially those aspects concerning free movement and hassle free travel, provides an ideal point of departure for the third part of this piece; the pledged interstatal commitment to regional freedom of movement of CARICOM nationals and its collision with a contrasting amalgam of shoddy generalization, of a select xenophobia, of jingoism and of a crass appeal to national sovereignty whenever reminded of voluntarily undertaken obligations that bedevils our best efforts to act as committed regional partners in any integration exercise in this context.

To be continued…

Jameca Falconer, PhD Receives Fulbright Award to Train at UWI,Cave Hill

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FOR IMMEDIATE RELEASE Contact: Jameca Falconer, PhD

Date: Telephone: 314-800-4215

Jameca Falconer, PhD Director for Counseling and Psychological Services at Logan University

Jameca Falconer, PhD Director for Counseling and Psychological Services at Logan University

Jameca Falconer, PhD Director for Counseling and Psychological Services at Logan University in St. Louis Missouri Continue reading →

Kindly Honour Your Word Mr. Minister

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Submitted Napolean Bonaparte

Will the Minister of Education, the Hon. Ronald Jones update the people of Barbados as to his seriousness and intentions of remaining in his post and fulfilling the institutions mandate, as our children’s education, (that which most Barbadians cherish) is at stake. Mr. Jones if you reading this and if you have not yet noticed, we have become disgruntled as to their plight with you at the helm.

As you may know, Barbadians for many years have used this vehicle education, as a means of social mobility and have been most discreet and frugal with their spending to enable at least their children (if not themselves) the opportunity to further themselves. To have expected parents of the current years’ university entrances to find between $5,500 and $19,765 at the spur of the moment is wrong. Your proposal to somewhat buffer this unexpected hardship was a proposed 3,000 bursaries to families lacking the means.

Exactly where does these UWI students and their families stand with regards to these bursaries you have promised? Are you aware of the stresses and strains placed on them now that the term has started, with regards to completion of their education program?

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Whither the School of Medical Sciences at Cave Hill!

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Submitted by Lemuel

...Class of 1969 (Professor Henry Fraser’s Class) 50% went to the US to do their internship and most of them never returned...

…Class of 1969 (Professor Henry Fraser’s Class) 50% went to the US to do their internship and most of them never returned…

The University of the West Indies (UWI) was established in 1948. Currently, it has full campuses in Jamaica, Trinidad and Barbados. The Mona Medical Faculty started in 1948 with 33 students. To date, the UWI has produced over 7,000 medical graduates. In 2008, the Cave Hill Campus took the bold step to establish a full faculty of medical sciences.

History

The UWI took over from Codrington College, which was the only institution that offered higher education at the degree level by 1953. Degrees in the Classics, Humanities and Theology were offered. All of this was done in affiliation with Durham University. However, it should be noted that the primary intent of the Codrington Will was to ensure that the College would have offered medical degrees. It is not clear why that was not done.

Therefore, any Caribbean national seeking medical education had to journey to Canada, the UK and the US. By September 1946, with an affiliation with the University of London, a medical school was set up in Mona, Jamaica. Over 600 students applied for entry, but only 33 were accepted after enduring a “special entrance examination” and interviews.

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To Barbadians ALL – Sir Hilary Beckles the TRUTH!

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Submitted by Douglas

Sir Hilary Beckles Principal of UWI, Cave Hill

Sir Hilary Beckles Principal of UWI, Cave Hill

I write this out of a concern that we are not hearing the FULL TRUTH about this issue of the FUNDING of UWI education. As I read the comments of the Principal and Pro-Vice Chancellor, Professor Sir Hilary McDonald Beckles, I Cry shame on a man I formerly respected. As one of his former students I admired his brilliance and indeed while I have lost respect for this man, I must admit he did much to transform many aspects of the Cave Hill Campus. He built buildings, indeed monuments. I did hear staff, teaching and other, complain that you could not question him, he alone, had all the answers. I understand he brooks no opposition.

I was listening to many callers overs the past few months, and most recently when I heard a Government Minister trying to rationalise the decision to have students pay part of the cost of their education at UWI. I asked myself, how did we get here? Those who support the Government say this should have been in place a long time ago. Those who oppose the Government say students should not pay. We need to hear from the Minister of Education. He did not even touch this in the Estimates Debate. I have been trying to understand why we have reached this point, and have been asking questions of all kinds of people. They have all left me with more questions than answers and I therefore want to pose some questions to the University, its Principal, Deputy Principal and all the senior managers as well as the Minister of Education (and those who went before him).

Continue reading – Beckles II, Beckles III, Beckles IV and Beckles V

Harry Husbands: A DLP Mole

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Submitted by Jane Brathwaite

BU understands Harry Husbands is the son of Austin Husbands and NOT Senator Harcourt Husbands – David.

Harry Husbands, son of Senator Harry Husbands

Harry Husbands, son of Austin Husbands

The truth is: Harry Husbands is a token and a mole for the Government of Barbados/Democratic Labour Party and has been placed by the party to get things done their way as the current President has been found to be very resistant.

For the signing off of many decisions that affect the University, the President’s signature is needed in order for the decisions to be implemented. The current President is often in disagreement with the government of Barbados and sometimes with the administration of the University.

Here are the facts:

1) Harry Husbands resigned a very well paying Personal Assistant position for the Minister of Labour Esther Byer-Suckoo, paying over $4000 monthly, to become the President of the Guild of Students less than two weeks before Guild Elections.

Related Link: Young Democrats: Value education

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UWI GUILD Meeting Ends in TURMOIL

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Submitted by Guild Watchdog

(L-R) Guild President; Damani Parris, Law Rep; Daniel Davies, Guild Treasurer; Ital Spencer reviewing a student petition against paying tuition fees

(L-R) Guild President; Damani Parris, Law Rep; Daniel Davies, Guild Treasurer; Ital Spencer reviewing a student petition against paying tuition fees

While some University Students are worrying about the Governments new policy forcing them to pay tuition fees at The University of the West Indies. It was chaos and turmoil at The Roy Marshall Teaching Complex at The University of the West Indies Cave Hill Campus on Thursday night; for the convening of a Guild Council Meeting when once-removed Treasurer of the Guild, Ital Spencer was the centre of contention and disruptive behaviour forcing University Security to end the meeting prematurely.

Mr. Spencer, who was also the Guild Treasurer on the previous Guild Council was accused of manipulating his authority to obtain absolute power and threatening other council officers. These accusations, which offend the Constitution of the Guild and the University’s Code of Ethics warranted him a trial of ‘No Confidence for Recall’ at the hands of the student population resulting in his removal last November.

Sources close to the Cave Hill Guild Council have stated Mr. Spencer dod not submit financial reports, has been accused and proven of using the students’ Guild funds for personal benefit, for example, a first class flight to Jamaica last UWI Games among other aggravated offenses. To this end, the President of the Guild, Mr. Damani Parris, has suspended Mr. Spencer pending another Special  Meeting of the Student Body to affect the removal of Mr. Spencer.

On Wednesday, 25th September, 2013 the majority membership of the student executive voted ‘No Confidence’ in Mr. Ital Spencer and have therefore recommended to the student population that he be removed.

Energy in Renewable Energy

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Brynn O'Reilley, a second year student in the Energy Systems Engineering Technology at St. Lawrence College plugs in an electric vehicle at the launch of the college's new charging station. (Elliot Ferguson The Whig-Standard)

Brynn O’Reilley, a second year student in the Energy Systems Engineering Technology at St. Lawrence College plugs in an electric vehicle at the launch of the college’s new charging station. (Elliot Ferguson The Whig-Standard)

Now that the outcry over government’s decision to make UWI students pay tuition cost has abated, there is the opportunity to debate the issue unhinged from political rhetoric. Let us keep hope alive!

At  a recent address to the CARILEC Renewable Energy Conference Minister of Energy Darcy Boyce stated that although he understands the industry is of national importance, government will not rush policy decisions to impact the stability of the grid. Many have come to appreciate that ‘rushing’ is not a quality which is associated with the Stuart led government.  At the same CARILEC conference Caricom Ambassador expressed the view that Barbados has reached a juncture where important decisions have to be made concerning energy production and there was a ‘certain urgency’ required.

Commonsense dictates that government and the regulator should not take decisions to destabilize the EMERA owned sole electric company in Barbados. BU must question whether the minister with responsibility for energy should be the one quoted. Minister Boyce must be perceived by his utterances to be the champion of government’s renewable energy program (RE). There must be no doubt in the minds of members of the public that he is part of a decision making process to rollout RE which is calibrated to the urgency of the times. All Barbadians must feel the weight of importance which the RE program has for Barbados. We must feel his energy!

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UWI Fees Standing On Current Enrolled Barbadians Students

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Submitted by Politically Correct (to alert the President of the Guild of this vital information)

President of the Student's Guild, Damani Parris

President of the Student’s Guild, Damani Parris – photo credit:Nation newspaper

This letter is not to slander persons in the Ministry but merely to assist the Guild in fighting the sudden increase in fees for Barbadian students. I will explain how to address this legally below from paragraph 2. The Ministry of Education, Science Technology and Innovation is a puppet Ministry which is suffering at the hands of the International community because of Globalisation. This is a typical encroachment on our sovereignty as a Nation. Changing a name does not mean that you are in alignment with countries that truly have science, technology and innovation based research saving the country money, creating new jobs etc. Minister Ronald Jones is quoted in the advocate as saying “The State does not have money and that citizens must stop being selfish and depending on Government for the State has no money (ADVOCATE 13/9/2013)

Every country listed here in Canada, South Africa, Denmark, Finland and more. I draw to your attention the UWI HANDBOOK and REGULATIONS for each FACULTY, as the first set of evidence and the quality assurance agency in Barbados which promotes quality assurance in higher education for you to use in your arguments. We will now see the power of politics and the role it plays.

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UWI, Tertiary Education Cost and the Budget

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Submitted by Fair Play

Sir Frank Alleyne

Sir Frank Alleyne

Sir Frank Alleyne’s interview on the People’s Business last night was spot-on. As usual, he was cogent, rational, reasonable and, of course, very ‘frank’, no pun intended. All the while, trying not to be overly critical of the administration at Cave Hill, but tacitly showing up its unreasonableness and excessive spending, nonetheless. He walked the proverbial tightrope (having taught there for decades, so he was somewhat circumspect), but he did it well.

It was very interesting television! Lots of good points were made; but  a couple salient ones stand out:

  • current physical development at the Cave Hill campus is not sustainable;
  • maintenance and personnel to staff the new structures will be difficult to maintain;
  • salary levels are very high;
  • UWI’s operating cost (to central government) has risen exponentially from about $53 million in 2005 to over $126 million in 2012-2013;

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Financing Tertiary Education in the Caribbean: The Case of the University of the West Indies

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Andrew Downes is Professor of Economics and Director of the Sir Arthur Lewis Institute of Social and Economic Studies at the Cave Hill Campus of the University of the West Indies. He has degrees in economics from the Universities of the West Indies and Manchester. He is the author of several monographs and articles covering such area as labour economics, macroeconomics, development economics and applied econometrics. He is Editor-in-Chief of the Journal of Eastern Caribbean Studies. He is the author of a report for the UNDP on the Millennium Development Goals in the Caribbean

Andrew Downes is Professor of Economics and Director of the Sir Arthur Lewis Institute of Social and Economic Studies at the Cave Hill Campus of the University of the West Indies. He has degrees in economics from the Universities of the West Indies and Manchester. He is the author of several monographs and articles covering such area as labour economics, macroeconomics, development economics and applied econometrics. He is Editor-in-Chief of the Journal of Eastern Caribbean Studies. He is the author of a report for the UNDP on the Millennium Development Goals in the Caribbean.

Majority Supporting Government's Tertiary Education Plan

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Submitted by Fair Play

Minister of Education appeared on CBC's The People's Business to explain government's decision to ask UWI students to pay part of the cost of their degree.

Minister of Education appeared on CBC’s The People’s Business to explain government’s decision to make UWI students pay part of the cost of their degree.

I believe our plan to ask students to contribute a small part of the cost of their tertiary education at UWI has more public support than we think. Talking to people from all walks of life, and ironically, particularly among low income earners, there is much support.  Their comments run the gamut from: it makes sense; the country cannot afford 100% funding at this time; other countries that are better off than us don’t do it; and, it should have been implemented long ago; to, they have an attitude after graduation – forgetting who paid for their education; and they do not give back to society, especially the doctors and lawyers who charge the same benefactors (the taxpayers) very exorbitant fees.

Barbadians aren’t stupid.

However, over and above those sentiments, generally, most persons I spoke to agree with the percentage the students will have to pay. Even some, like Dr. Leonard Shorey, (a perennial BLP apologist) believe it should have been higher and was long in coming. And, the Sunday Sun poll surprisingly gave majority support to the Gov’t.

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A Prime Minister's Word

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What value should we place in the word of a Prime Minister. Should we dismiss Prime Minister Stuart’s promise as election campaign rhetoric? Should we dismiss the promise the late Prime Minister David Thompson made to CLICO policyholders? Are we finally willing to say to politicians, ENOUGH! Read Nation article PM’s Word

What value should we place in the word of a Prime Minister. Should we dismiss Prime Minister Stuart’s promise as election campaign rhetoric? Should we dismiss the promise the late Prime Minister David Thompson made to CLICO policyholders? Are we finally willing to say to politicians, ENOUGH!

Read Nation article PM’s Word

Notes From a Native Son: The Role of Education Policy in Development Part Two

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Hal Austin

Hal Austin

Introduction:
Globally, a greater proportion of privately educated pupils go on to higher education than those educated in the public education system. Not only does this simple empirical reality does not take a lot of analysis and can be explained in a way many of us will understand, its simplicity also hides a lot of generational advantages; for example, it is common knowledge that children from black and Hispanic backgrounds underperform when compared with their white counterparts. (For a greater and more technical argument, see: Joseph Stiglitz: “The demand for education in public and private school system”, Journal of Public Economics (1974); G. Brunello and L. Rocco: “Educational Standards in Privatew and Public Schools”, Economic Journal (2008).

One of the advantages of a private education is that pupils are often privately trained, in addition to their normal classroom experience, to take the key public exams, be they the 11plus, CXCs or final degrees, success in which brings enormous prestige. Such a privatised, exam-focused system does not necessarily produce young men and women with the skills and ability to think critically, indulge in team-working, or carry out complex research, all part of modern higher education and the best working environments. Increasingly, most post-graduate study is now inter-disciplinary and the knowledge-based workplace is an environment of collaborating with colleagues and ideas sharing.

Related Link: Notes From a Native Son: The Role of Education Policy in Development Part One

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On Sir Hillary McDonald Beckles KA

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Submitted by Benny

Sir Hilary McDonald Beckles, pro-vice-chancellor at the University of the West Indies

Sir Hilary Beckles, Pro Vice-Chancellor, UWI

It has been repeatedly stated in the Press about the amount of money owed to the UWI by the Government. I would like it explained to the tax payers of Barbados how much the expansion at the University has cost the government in recent years. I am speaking of your philosophy of a graduate in each household. Since the Government pays the tuition for each first degree it is logical to conclude that more of the tax payers dollars are being pumped into your philosophy. Can it be explained to the people of Barbados if this was discussed with the government of the day when you conceptualise this philosophy as to how it will impact on the finances of this country?

I read again recently that you have decided to offer a part-time programme in law to persons with a first degree. This is no doubt an effort to enhance the income of the University because those who pursue this programme will have to pay. However, this programme has the potential to also impact on the finances of this country because the government pays for the tuition at the law schools.  Is there really a market for this amount of lawyers? The profession is already under serious challenge with young attorneys starting in some law firms for as little as $1,500.00 per month until they generate their own income. What will be the benefits to the wider society?

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New Education for Development

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Submitted by Looking Glass

UWI, Cave Hilll

UWI, Cave Hilll

Development in any language means change, a break with the past and is people oriented. National Development of which economic development is but a component is personal and qualitative. It depends on our ability to innovate, create and organize and requires an intellectual leap into the future. Resistance to such change is not so much a personal problem but a structural impediment created by the socio-economic system in general and the educational system in particular. In this context our educational system in its current manifestation becomes a repressive developmental factor.

In today’s world the foundation of economic growth and development is the function of human skill not foreign investment. In the world of technology fortunes are made not only in the manufacture off products but by inventing products and processes. Important factors include education and innovation. National development implies the power to create wealth which, in the final analysis depends on our ability to generate new ideas and to turn them into reality.

Here education is crucial. East Asian countries invested huge sums in education designed to facilitate economic growth and industrialisation; their forte product improvement and product creation. The Ivory Coast, a backward country at independence is today a wealthy country. Large sums were invested in education and agriculture rather than industrialisation, and government ensured the implementation and nurturing of programmes needed for development.

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CARICOM STOCK MARKET REVIEW 2012

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Compiled by the Department of Management Studies, UWI, Cave Hill

Compiled by the Department of Management Studies, UWI, Cave Hill

NEW LISTINGS AND DELISTINGS

There were a number of listings and De-Listings across the regional exchanges in 2012. On the Bahamas International Securities Exchange, Arawak Port Development was listed on April 23 2012. In Guyana, Rupununi Development Company Limited was listed on March 19 2012. In Jamaica, First Caribbean International Bank Jamaica, First Jamaica Investments Limited, Montego Freeport and Pegasus Hotels were De-listed, while on the main market Proven Investments was listed, and, Consolidated Bakeries, Paramount Trading Jamaica, C2W Music Limited and K. L.E. Group Limited were listed on the Junior Market. Supreme Ventures was De-listed from the Trinidad and Tobago Stock Exchange.

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WEEKLY CARICOM STOCK REPORT 10 December to 14 December 2012

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Compiled by the Department of Management Studies, UWI, Cave Hill

Compiled by the Department of Management Studies, UWI, Cave Hill

Should You sell Those Shares To Finance Christmas Shopping?
In the two years we have been publishing this report, we have noticed an increase in share trading around the end of the year. This has led us to suspect that some investors may be liquidating their shares to help finance Christmas and New Year holiday expenditures. Is this a wise decision? Like so many things it all depends. In general, you should not use investment funds to finance consumption. If you are holding the shares as a means of financing some future expenditures like retirement, education and so on, then you should desist from liquidating shares to finance holiday related consumption expenditures. However, liquidating shares to help finance Christmas and New Year expenditures is generally a better financial decision than undertaking expensive hire purchases or neglecting to pay other bills. In general, I would suggest that you save over the course of the year to finance holiday expenditures, avoid debt to finance holiday expenditures, exercise moderation in holiday expenditures and if you must, then only finance holiday expenditures from the gains on your investments rather than liquidating your capital.

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WEEKLY CARICOM STOCK REPORT 3 December to 7 December 2012

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Compiled by the Department of Management Studies, UWI, Cave Hill

Compiled by the Department of Management Studies, UWI, Cave Hill

Keep It Simple.
Keeping it simple in investing is not stupid. Seventeenth-century philosopher Blaise Pascal once said, “All man’s miseries derive from not being able to sit quietly in a room alone.” This aptly describes the investing process. Those who trade too often, focus on irrelevant data points, or try to predict the unpredictable are likely to encounter some unpleasant surprises when investing. By keeping it simple–focusing on companies with economic moats, requiring a margin of safety when buying, and investing with a long-term horizon–you can greatly enhance your odds of success.

 

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WEEKLY CARICOM STOCK REPORT 12 November to 16 November 2012

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Compiled by the Department of Management Studies, UWI Cave Hill

Listen to Your Gut.
Any valuation model you may create for a company is only as good as the assumptions about the future that are put into it. If the output of a model does not make sense, then it’s worthwhile to double-check your projections and calculations. Use DCF valuation models (or any other valuation models) as guides, not oracles.

Know Your Friends, and Your Enemies.
What’s the short interest in a stock you are interested in? What mutual funds own the company, and what is the record of those fund managers? Does company management have “skin in the game” via a meaningful ownership stake? Have company insiders been selling or buying? At the margin, these are valuable pieces of collateral evidence for your investment thesis on a company.

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WEEKLY CARICOM STOCK REPORT 5 November to 9 November 2012

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Compiled by the Department of Management Studies, UWI Cave Hill

Prepare for the Situation to Proceed Faster than You Think.
Most deteriorating businesses will do so faster than you anticipate. Be very wary of value traps, or companies that look cheap but are generating little or no economic value. On the other hand, strong businesses with solid competitive advantages will often exceed your expectations. Have a very wide margin of safety with a troubled business, but do not be afraid to have a much smaller margin of safety for a wonderful business with a shareholder-friendly management team.

 Expect Surprises to Repeat
The first big positive surprise from a company is unlikely to be the last. Ditto the first big negative surprise. Remember the “cockroach theory.” Namely, the first cockroach you see is probably not the only one around; there are likely scores more that you can’t see.

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WEEKLY CARICOM STOCK REPORT 29 October to 2 November 2012

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UWI, Cave Hill,Barbados

Investing School (Be Brave and Don’t Follow Fashion)

One of the most enduring realities in investing is the fact that most small investors seem to end up buying stocks at the top of the market and selling at the bottom.  One of the major reasons for this is the fact that investors seem to let their emotions dominate when making investment choices. Two emotions in particular seem to dominate when making investment decisions:: fear and following the crowd.

First, let’s talk about following the crowd, what West Indians call “follow fashion.” The adverse effect following fashion has on investment results is rather straightforward. When a person sees others do well in an asset class or stock, he or she decides to jump on the bandwagon and buy some too. What tends to happen is that by the time “follow fashion” people invest in the stock, the stock’s price has ran up so much that it has become overvalued. Of course, the bubble eventually breaks and people that bought at the top lose a lot of money.  “Follow Fashion” people end up buying at the top of a bubble.

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CARIBBEAN STOCK REPORT 22 October to 26 October 2012

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Compiled by the Department of Management Studies, UWI Cave Hill – Click image to read in PDF

Solid gains on manufacturing stocks drove the major Caribbean indices higher during the week ended October 26. For the week, 3,963,727 shares valued at $4,418,471 crossed the floors of the six stock exchanges across Caricom, with 43 stocks advancing, 36 declining and 44 remaining unchanged. Caribbean Producers was the volume leader with 719,093 shares being traded, Ciboney posted the largest gain for the week (12.32%), while on the losing end, Caribbean Cement fell (10.16%).

For the week, thirteen of the CSX 30 stocks advanced, eleven declined and six were unchanged. The CSX 30 gained 2.79 points to close the week at 1,404.27, up 6.79% year to date. In the CSX 30 there were gains for Wibisco (5.47%), Mayberry (3.17%) and scotia Group Jamaica (1.59%). On the negative side, Caribbean Cement fell (10.16%), NCB Jamaica (6.08%),CW Jamaica (4.78%), Guardian Holdings (3.68%), Desnoe & Geddes (2.12%) and Grace Kennedy (1.17%).

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WEEKLY CARICOM STOCK REPORT 24 September to 28 September 2012

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Compiled by the Department of Management Studies, UWI Cave Hill

The weakness in Caribbean stock in 2012 continued as the major indices ended the week of September 28 lower.  The major indices were dragged down by losses on manufacturing and financial companies, however, there was some respite for investors on the Junior markets as that index ended the week in positive territory.  For the week,  22,767,153 shares  valued at $6,298,829 crossed the floors of the six stock exchanges across Caricom, with 22 stocks advancing,  59 declining and 43 remaining  unchanged.  JMMB was again the volume leader with 14,556,430 shares being traded, C&W Jamaica posted the largest gain for the week (9.56%), while on the losing end, Bank of Nevis fell (23.53%).

For the week, six of the CSX 30 stocks advanced,  seventeen declined and seven were unchanged.  The CSX 30 lost 1.98 points to close the week at 1,388.18, up 5.57% year to date.    In the CSX 30 there were gains for CW Jamaica (9.56%), Carreras (1.26%) and Scotia Bank TT (1.01%).  On the negative side, Desnoe & Geddes fell (6.53%), Guardian Holdings (3.13%), Scotia Group Jamaica (1.73%) and Lascelles (1.28%).

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WEEKLY CARICOM STOCK REPORT 17 September to 21 September 2012

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Compiled by the Department of Management Studies, UWI Cave Hill – Click image to read in PDF

The recent rally on Caribbean stock markets was brought to an abrupt end as Caribbean stocks ended the week of September 21 lower. The major indices were dragged down by losses on financial companies. For the week, 20,196,651 shares valued at $7,156,122 crossed the floors of the six stock exchanges across Caricom, with 40 stocks advancing, 42 declining and 42 remaining unchanged. JMMB was the volume leader with 4,952,245 shares being traded, Lasco Financial posted the largest gain for the week (16.60%), while on the losing end, Caribbean Cement Producers fell (15.30%).
For the week, twelve of the CSX 30 stocks advanced, twelve declined and six were unchanged. The CSX 30 lost 3.63 points to close the week at 1,390.16, up 5.72% year to date. In the CSX 30 there were gains for Desnoe & Geddes (9.50%), Mayberry (1.59%) and Lascelles (1.38%). On the negative side, Caribbean Cement fell (15.30%), Banks DIH (9.21%), CW Jamaica (8.55%), Guardian Holdings (3.46%), Scotia Group Jamaica (2.77%), and NCB Jamaica (2.34%).

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WEEKLY CARICOM STOCK REPORT 3 September to 7 September 2012

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Compiled by the Department of Management Studies, UWI

Solid gains on Conglomerate, Manufacturing and Banking stocks saw the CSX 30 extend its rally from last week and end the week higher, while the Junior Market returned to negative territory. For the week, 8,325,163 shares valued at $3,230,566 crossed the floors of the six stock exchanges across Caricom, with 41 stocks advancing, 39 declining and 44 remaining unchanged. Jamaica Money Market Brokers was again the volume leader with 1,284,631 shares being traded, Lascelles posted the largest gain for the week (32.69%), while on the losing end, Lasco Manufacturing fell (8.00%).

For the week, fourteen of the CSX 30 stocks advanced, ten declined and six were unchanged. The CSX 30 gained 23.83 points to close the week at 1,386.46, up 5.43% year to date. In the CSX 30 there were gains for Lascelles (32.69%), Scotia Group Jamaica (6.48%), CW Jamaica (4.54%), Desnoe & Geddes (3.94%), Grace Kennedy (3.72%), Republic Bank (2.37%), Ansa Mcal (1.44%) and NCB Jamaica (1.13%) and Neal & Massey (1.09%).

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WEEKLY CARICOM STOCK REPORT 27 August to 31 August 2012

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Compiled by the Department of Management Studies, UWI

A broad based rally across most sectors, saw the major Caribbean Indices end the week of August 31 higher. For the week, 13,600,340 shares valued at $3,390,466 crossed the floors of the six stock exchanges across Caricom, with 53 stocks advancing, 29 declining and 42 remaining unchanged. Jamaica Money Market Brokers was the volume leader with 3,358,996 shares being traded, Ciboney posted the largest gain for the week (49.94%), while on the losing end, Honey Bun fell (19.22%).

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Are The Storm Clouds Gathering?

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Submitted by Ping Pong (as a comment)

Hon Ronald Jones, Minister of Education

Two recent news items have caused me to ponder on the future of young Barbadians. The first is the Minister of Education’s musing that future scholarship winners may not be bonded to return and work in Barbados on completion of their studies. Is this tacit acknowledgement that Barbados may not be reasonably able to employ these graduates? The second item of news is the reported level of indebtedness of Barbados to UWI. Apparently, jobs as well as student admissions are threatened.

While we enjoy the charade that is the Alexandra inquiry and pontificate on the definition of education etc, is it unreasonable to worry that the future development and employment prospects of our young people is growing dim? It appears that as the CSME experiment has been shelved (or was still born) I must ask what other plans are there to expand the opportunities of our many well certified graduates?

WEEKLY CARICOM STOCK REPORT 20 August to 24 August 2012

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Compiled by the Department of Management Studies, UWI Cave Hill – Click image to read in PDF

Losses on Retail and Distribution stocks resulted in the CSX 30 ending the week of August 24 lower, and the misery on the Junior Market increased further. For the week 14,152,805 valued at $2,828,445 crossed the floors of the six stock exchanges across Caricom, with 22 stocks advancing, 60 declining and 42 remaining unchanged. Sagicor Life was the volume leader with 6,282,718 shares being traded, Gleaner posted the largest gain for the week (9.26%), while on the losing end, Pulse fell (21.47%).

For the week, eleven of the CSX 30 stocks advanced, thirteen declined and six were unchanged. The CSX 30 lost 1.13 points to close the week at 1,352.05, up 2.82% year to date. In the CSX 30 there were gains for Gleaner (9.26%), Guardian Holdings (2.54%), Desnoe & Geddes (2.45%), Caribbean Cement (1.93%) and NCB Jamaica (1.29%). On the losing end Grace Kennedy (6.58%), CW Jamaica (4.40%), Scotia Group Jamaica (3.63%), Carreras (3.59%) and Sagicor (1.26%).

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WEEKLY CARICOM STOCK REPORT 23 to 27 July 2012

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Compiled by the Department of Management Studies, UWI Cave Hill – Click image to read in PDF

Caribbean stocks enjoyed one of their better weeks for the year, but there was continued weakness on the Junior market as those stocks appear to be in the throes of a major correction after the outstanding gains of 2011, as well as continued weakness in Tourism & Real Estate stocks.  For the week 53,071,332 valued at $2,972,824 crossed the floors of the six stock exchanges across Caricom, with 47 stocks advancing,  32 declining and 45 remaining  unchanged.  Cable & Wireless Jamaica was the volume leader with 46, 087,467 shares being traded, Cable & Wireless Jamaica posted the largest gain for the week (14.88%),  while on the losing end, Gleaner fell (19.71%).

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Diminishing Returns To Education

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Submitted by Looking Glass

UWI,Cave Hill

Theoretically economic laws tell us that if we connect all the world knowledge pools and promote greater trade and integration the global pie will become larger and more complex. Implicit is the trickle down effect which will increase the living standards of the masses. Also implicit is the greater and more specialize the knowledge the greater will be the amount and value of jobs coming on stream. Hence the nation able to significantly increase it s knowledge force will enjoy a larger share of the pie. Among other things the theory assumes rationality of behaviour which is simply not the case. The global playing field may be flat but certainly not level. Countries differ in terms of the amount of land space, natural resources, people, markets and power. For this reason especially post secondary education should be structured to facilitate strategic development as is the case in China and other countries.

Not long ago the goal, an extension of no child left behind and unique only to Barbados was said to be a university graduate in every household by 2020.

The Pro Vice Chancellor told the Cabinet he envisioned 12000 students in the next 4 years of which 20% will be masters and doctoral grads (Advocate 2/22/2011). Now Tertiary education is said to be “critical to the strategic development of the country.” The Cave Hill Campus and the expansion should be seen as a growth area. Having a township to accommodate 15,000 will make a “profound contribution to the country’s development” (Advocate 05/07/2012).

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WEEKLY CARICOM STOCK REPORT 16 July to 20 July, 2012

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Compiled by the Department of Management Studies, UWI Cave Hill – Click image to read in PDF

Caribbean stocks had a mixed week, with a slight recovery in Conglomerate and Manufacturing Stocks and on the Junior Market, but there were continued losses on Insurance & Investments, Retail & Distribution and Tourism & Real Estate stocks. For the week 9,722,924 shares valued at $2,002,556 crossed the floors of the six stock exchanges across Caricom, with 26 stocks advancing, 49 declining and 49 remaining unchanged. Blue Power was the volume leader with 2,528,350 shares being traded, Gleaner posted the largest gain for the week (15.36%), while on the losing end, Bahams Waste Management fell (9.88%).

 

CARIBBEAN STOCK REPORT 2 July to 6 July, 2012

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Compiled by the Department of Management Studies, UWI Cave Hill – Click image to read in PDF

Solid performances by Banking stocks and a recovery on the Junior Market saw the major stock indices in Caricom close the week higher. For the week 7,264,517 shares valued at $3,259,394 crossed the floors of the six stock exchanges across Caricom, with 24 stocks advancing, 57 declining and 43 remaining unchanged. Gleaner was the volume leader with 3,065,553 shares being traded, Scotia Group Jamaica posted the largest gain for the week (9.61%), while on the losing end, Pulse Investments fell (23.11%).

 

CARIBBEAN STOCK REPORT REPORT 25 June to 29 June 2012

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Compiled by the Department of Management Studies, UWI Cave Hill – Click image to read in PDF

The misery returned for Caribbean investors as the major indices closing the week lower, after a slight rally last week. For the week 13,785,256 shares valued at $3,594,016 crossed the floors of the six stock exchanges across Caricom, with 22 stocks advancing, 62 declining and 40 remaining unchanged. Cable & Wireless Jamaica was the volume leader with 3,943,101 shares being traded, Pulse Investments posted the largest gain for the week (31.73%), while on the losing end, Caribbean Producers fell (10.56%).

WEEKLY CARICOM STOCK REPORT 18 June to 22 June 2012

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Compiled by the Department of Management Studies, UWI Cave Hill – Click image to read in PDF

Caribbean stocks offered investors some slight relief from the losses for the year, as they staged a slight rally with the major indices closing the week higher.  For the week 67,875,289 shares valued at $8,430,562 crossed the floors of the six stock exchanges across Caricom, with 61 stocks advancing,  20 declining and 44 remaining  unchanged.  Cable & Wireless Jamaica was the volume leader with 32,431,616 shares being traded, Banks DIH posted the largest gain for the week (10.86%),  while on the losing end, Ciboney fell 49.90%.

For the week, seventeen of the CSX 30 stocks advanced,  eight declined and five were unchanged.  The CSX 30 gained 1.67 points to close the week at 1,308.38, down 0.50% year to date.    In the CSX 30 there were gains for Banks DIH (10.86%), C&W Jamaica (6.29%), Citizens Bank (5.21%), Caribbean Cement (3.67%), Mayberry (1.45%), Agostini’s (1.20%)  and Carreras (1.03%).  On the losing end Gleaner fell (5.79%), National Enterprises (2.47%), NCB Jamaica (1.92%), JMMB (1.79%) and Scotia Group Jamaica (1.46%).

 

WEEKLY CARICOM STOCK REPORT June 11 to June 15 2012

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Compiled by the Department of Management Studies, UWI Cave Hill

Caribbean stocks continued to perform poorly in 2012 as the major indices again closed the week lower. For the week 32,177,978 shares valued at $3,407,802 crossed the floors of the six stock exchanges across Caricom, with 38 stocks advancing, 45 declining and 41 remaining unchanged. Kingston Wharves was the volume leader with 58,209,489 shares being traded, Cable & Wireless Jamaica posted the largest gain for the week (23.41%), while on the losing end, Caribbean Cement posted the largest decline for two weeks in a row, falling 9.78%.

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CARIBBEAN STOCK REPORT 21 May to 25 May 2012

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Compiled by the Department of Management Studies, UWI Cave Hill – Click image to read in PDF

Minister of Agriculture David Estwick shouted his frustration while addressing stakeholders at the Savannah Hotel who participate in the National Consultation on the White Paper for Agriculture. He believed that successive governments, including the current government has not taken agriculture seriously.

The comfort level of previous governments to drive Barbados on the back of services has prevented the economy from absorbing shocks precipitated by global recessions. He had concerns about the economies of the EU and the United States of America and likely impacts on Barbados if we maintain a current state.

Related Link: Agriculture at a standstill

CARIBBEAN STOCK REPORT 14 May to 18 May 2011 – European Union Expects To Sink Into Recession In 2012

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Compiled by the Department of Management Studies, UWI Cave Hill – Click image to read in PDF

The European Union (EU) expects to sink into another recession in 2012. Against the background of the PIGS with Greece currently labouring on the brink of economic disaster with threats to be booted out of the EU and Spain about to follow, what does 2012 portend for the UK where rising unemployment is rampant?

Of particular concern for Barbados and other small islands in the English speaking Caribbean, this cannot be good news. In the case of Barbados the UK is a key tourism market and significant foreign direct investment originates. A flagging UK and EU market is not good news.

A reasonable question is what alternative investment opportunity does the regional equity market offer as a risk mitigating strategy.

Crisis Of Confidence In Listed Companies – WEEKLY CARICOM STOCK REPORT 16 April to 20 April 2012

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Compiled by the Department of Management Studies, UWI - Click image to read in PDF

The news that Barbados Dairy Industries Limited (BDIL) has delisted from the Barbados Stock Exchange (BSE) followed by confirmation from the Chairman of Banks Holdings Limited (BHL) Sir Allan Fields that BHL board will be discussing a similar option is not good news for the local investment climate. To state that the Barbados investment climate from inception of the BSE has never been bullish would be an understatement. The delistings will not help to improve the current state. The fact that there has not been any significant interest shown by Barbadians in the traditional and social media is confirmation that the profile of the Barbadian investor does not factor stocks in their investment portfolio.

How should the Barbados authorities who want to develop a financial market with rich options for Barbadians respond? It has become a head scratching exercise. How can we blame non Barbadians for buying out Bajan companies when the locals have demonstrated over time there is no appetite to invest in equities?

CARIBBEAN STOCK REPORT 19 March to 23 March 2011

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The following is a comment which BU posted in April 2011 and remains relevant today. What can Barbados do to mobilize interest in the local Barbados Stock Exchange (BSE)?

Compiled by the Department of Management Studies, UWI Cave Hill - Click image to read in PDF

The decision by the Department of Management Studies of the University of the West Indies to compile the Caribbean Stock Report is to be commended. Regrettably the report has not generated a national conversation which begs the question, why. Perhaps there is a ‘financial illiteracy’ which plagues a population which can boast of billions spent on education in the post Independence period.

BU believes local media has an important developmental role to educate the public it serves. It is not too late for local media to collaborate with the Department of Management Studies at UWI, Cave Hill by using the Caribbean Stock Report as a jump-off point to achieve such an objective. In fact it fits well with the strategy of Starcom to roll-out a Caribbean radio station.

It is ironic the ‘noise’ which is created about freedom of movement as a key driver for regional integration. However there is a comparative silence  about the other drivers, e.g. building frameworks for regional trade and a financial market.

Go figure!

THE UWI Financing DEBATE

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Submitted by Ellis Chase

University of the West indies, Cave Hill

There has been something of a debate on the funding of higher education in Barbados recently. As is typical, and strange for a well educated country, clear facts and hard information have largely been absent, and persons seem to be taking political and ideological positions. The Nation newspaper recently ran an article about UWI finances after a public pronouncement by the Finance and Economic Affairs Minister. The article prompted me to seek out some hard information on UWI finances, and I was shocked at how hard it was to get some. Finally, after some wheeling and dealing I got my hands on the UWI, Cave Hill audited financials for the period 1999 to 2009.

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