Think “Outside The Box” Mia!

Hartley Henry - DLP Political Strategist

I wanted to write about my ex-hero this week. I have never met her but I admired the progress she was making on the world stage. I was flabbergasted by the news of her being assaulted, and wanted desperately to “get my hands on that little boy”.

It was the first time in my life I envied the job of judges. I wanted to wake up one morning soon and find myself as a Judge in the United States with that little brown boy in front of me. I have been tossing around in my head the nature of sentence that I would hand down in the event that the evidence corroborated the allegations.

From a marketing perspective, I also thought of what, as an advisor, I would suggest my ex-hero could do to restart her career. I fancied a major world tour, with fresh lyrics, a new beat but still the eye-popping attire. My goal would have been for her to surpass all previous records and snatch every available award at the Grammys next year. For me, she would have been the Tina of the future.

But, I have waited patiently for a stout denial of any reunification or marriage. If there was pregnancy, I guess that would have to be embraced and factored into future equations, for that would have been conceived before the dreadful day. But, with time passing and no denial, I am left to assume that what we have all heard is true and that there is a 14-year-old brain in that 20-year old head.

Rude Boy Culture MUST Be Defeated

During the recent press conference held by Prime Minister David Thompson he was asked by a member of the studio audience what he intends to do about the PSV sector. The person who asked the question expressed the concern that despite the effort to clean-up the PSV sector, it continues to be a law unto itself. An example to show that the ZR culture is alive and well is the lewd and sexually explicit lyrics which they continue to play on their illegal audio systems.

Prime Minister David Thompson in his response to the member of the studio audience promised that he will be addressing the vexing issues which continue to emanate from the PSV sector in the upcoming budget scheduled for May 18, 2009.

The perennial lawlessness which has been displayed by the PSV sector, specifically ZR’s, has been the bane of successive government’s regulatory and social policies. The inability of the PSV sector to self-regulate combined with the lack of political will by successive governments to ‘calm’ the sector has created a monster which now threatens to destabilize our society. John Public has known for a long time that a major contribution to the problem in the PSV sector has been the concentration of ownership by politicians, lawyers, prominent businessmen etc.

This group of owners have become very influential which has led to wide spread corruption by officials responsible for regulating the sector.

Graeme Hall Nature Sanctuary A Legacy Lost?

Submitted by Graeme Hall Nature Sanctuary

From the field journal of Graeme Hall Nature Sanctuary’s naturalist, Ryan Chenery:

“During (my) most recent kayak trip on the lake I had the privilege of watching a Peregrine Falcon (at times no more than 20 feet overhead) effortlessly reaching mind-boggling speeds as it hunted bats at sunset. As I paddled through the water I noticed millions of small white flies which had evidently just hatched – desperately seeking out a mate before they fell and died on the water all around me (an image not unlike a snowfall). Osprey and Great Blue Herons called and sought roosting sites for the night amongst the mangroves, while in the distance the solitary figure of a juvenile Black-crowned Night Heron stirred to life in a small patch of White Mangroves to the west of the egret colony. It is at times like these that I am struck by the magic of this place and am reminded of its staggering importance”

-Ryan Chenery, February 2009

[Bridgetown, BARBADOS] Many have asked why Graeme Hall Nature Sanctuary is closed to the public. It has been 13 weeks since the closure, and as of Monday all employees except for a small maintenance and security team have been permanently severed from their jobs.

According to Peter Allard, Chairman of the Graeme Hall Nature Sanctuary, the decision to close was extraordinarily painful, as it affected the lives of many good men and women. But the closure was inevitable because the physical survival of the Sanctuary is at stake.

“After spending nearly $35 million US on the Sanctuary and its operations over fifteen years, we finally realized the Sanctuary would not survive,” said Allard.

“We rely on a natural healthy ecosystem, along with its natural peace and tranquility, because it is the only “inventory” that the Sanctuary has to offer visitors.”

“It is not, as some would believe, about simple economics. Increasing pollution and government policies and procedures outside of the Sanctuary are killing the wetlands at Graeme Hall, and no amount of continued investment inside the Sanctuary can change that.”

“It is simply not prudent or feasible for one man to continue supporting the Sanctuary in perpetuity. The matter is further complicated when governmental policies and actions are dooming its ecosystem to failure.”

“I understand that the future of the Sanctuary is a national issue and that it is up to the people of Barbados to let their government know what they want. Perhaps the academic and scientific community will step up as well, if only to preserve the very areas they wish to study,” observed Allard.

Barbadians Continue To Wait On The Shake-up Promised At The Immigration Department

There is an interesting parallel to what is happening in Barbados regarding illegal immigrant labour which is currently unravelling in the USA. There is a report just released that tens of thousands of jobs to be created by Obama’s stimulus package will go to illegal aliens.

“Studies by two conservative think tanks estimate immigrants in the United States illegally could take 300,000 construction jobs, or 15% of the 2 million jobs that new taxpayer-financed projects are predicted to create – read full report“

It is interesting to note that this ridiculous state of  affairs is being blamed on “failing to require that employers certify legal immigration status of workers before hiring by using a Department of Homeland Security program called E-Verify. The program allows employers to check the validity of Social Security numbers provided by new hires. It is available to employers on a voluntary basis.”

Treading Carefully In The CLICO Debate

Minister of Social Care, Constituency Empowerment and Urban Development

The CLICO Affair has occupied our region for more than five weeks now. We suspect that it will continue to do so for a little while longer. Underlying the cause of CLICO’s problem maybe a combination of a lack of a harmonized regional regulatory framework to manage our Pan-Caribbean companies, and the global financial meltdown which has dried-up cash flow for many companies. There are some people who might suggest that the Lawrence Duprey company has not endeared itself to regulators in the region over the year, a story for another time. This might explain the haste with which the CL Financial empire is being dismantled across the region.

Barbados has long been rated as a stable financial market. Unlike Bahamas, Guyana, Belize and others the Barbados authorities (government) have elected to manage the CLICO crisis in a different way. The Opposition Party in Barbados has shown its displeasure by tabling a motion of no confidence in the government which was predictably defeated on Friday (6 March 2008). Our style of government entitles the Opposition Party to table a motion of no confidence in their judgement.

Are Bloggers Journalists?

The Role Of National Financial Institutions

Submitted by Dr. Justin Robinson, Department of Management Studies, UWI Cave Hill

The Prime Minister of Barbados has stated that his government has an interest in working with private players in Barbados to take a controlling interest in the Barbados National Bank (BNB). The Prime Minister’s statement has generated comments from highly trained and respected experts in Economics, Finance and Business, among others. The consensus among a number of commentators seems to be that the acquisition of a controlling interest in Barbados National Bank might not be best use of public funds at this time.

I certainly have found nothing in the Prime Minister’s comments to suggest that his government was interested in dipping into the public purse to acquire a majority stake in BNB. I have interpreted the Prime Minister’s comments to mean, that his government sees net advantages to the existence of a financial institution whose ownership structure would make it more likely to act in the national interest if called upon to do so. For example, to expedite the bailout of a troubled financial institution, such as the role played by First Citizens Bank in Trinidad and Tobago. If my interpretation of his position is correct, in my view it is an interesting position and one worthy of further debate.

The Problem Of Debt

Submitted by The Looking Glass

Central Bank of Barbados

There is a correlation between Public and Private/personal debt in a society whose mental set permits both lavish consumption and government misuse of borrowed funds, more so where private saving is insufficient to finance government spending (like jails, roundabouts, flyovers (and borrowing to prop up the Treasury) that do nothing but add to the debt. The debt ratios of households and government are at an all time high.

When a regime can no longer effectively underwrite the control and production of the country then you do as you were told. The opportunity to be held hostage increases when too much of the debt is held by foreigners. Thus it is safe to say that in our case debt will retard the independence of the nation and leave us in a state that is “financially imprudent.” As long as part of the debt is covered by borrowing its value will keep on rising, and like long term fiscal policy is not sustainable.

The IMF in 2006 projected debt at 75% of GDP by 2011. The 2008 report is anything but an improvement. According to the report “total debt rose to 95% of GDP or a stall high of 87% if earmarked sinking funds are netted out….A 75% likelihood that medium term debt ratio will exceed current levels…and predicts an average debt ratio of 106% by 2013.” This suggests that, despite the privatization and sale of profitable assets in the last decade, the national debt is one hell of a lot more than was ever openly acknowledged (add in “off-budget” loan guarantees and contingencies to get an idea of the true national debt). Debt stabilisation means nothing more than stabilizing it as a proportion of GDP sufficient to ensure the debt will be serviced not principal reduction.

Barbados Economic Agenda For The Present But The FUTURE Untold

Prime Minister David Thompson

Prime Minister David Thompson like President Barrack Obama has adopted a PEOPLE oriented style, some describe it as populous. After one year in office he has had more interactions with the media than his predecessors; with a promise of more to come. Time will tell if the frequency of the interactions will wane as the global financial pressures continue to spiral.

Although conceding that the Prime Minister has performed well in the interactions so far, we believe that there is a debate which our PEOPLE, media et al have failed to persuade the Prime Minister to engage. It is said that behind every dark cloud is a silver lining, the economists and financial analysts speak to opportunities to be grasped during economic downturns. While we understand the defensive economic strategies which the government is currently mobilizing,  the big void appears to be the incoherent vision of Prime Minister Thompson on how he plans to reposition the Barbados economy for the future.

In the few and brief explanations about his government’s economic plans for Barbados, Prime Minister Thompson predictably outlined the challenges which the interconnectivity of world economies have wrought on the world. An arrangement which is known as Globalization. We thought there was the opportunity for the journalists present at the  recent press conference to probe the government’s economic agenda more fully.

What Can We Say About The CLICO Affair?

The T&T based CL Financial saga rages on in Trinidad. Its configuration as a pan-Caribbean company ensures that decisions currently being taken in Trinidad will have implications for most of the countries in Caribbean where it does business. The irony of course is the lack of a harmonious regulatory framework in the region given the push to mobilize CSME. It is known that in the Caribbean we do very well at formulating policy, however we fall flat in the execution.

A recent blog submitted by BU family member TRAINED ECONOMIST has generated interesting discussion. In contrast we became turned off when we read the front page editorial which appeared in the Advocate newspaper today titled Hands Off CLICO. We found the content of the Advocate editorial interesting when compared to the contributions (RA’s comments one, two, three) by BU family member RA.