Honest Truth My statements don't have much to with AML and more to do with what I see on the streets. AML is just the tip of the iceberg. I anticipate hundreds of companies to see revenue drop by 10% (at least) over the next couple years. Baha Mar occupency is down to 30% occupency apparently. Who's going to come here? In a country in which eating out is the only night entertainment, it's bad business sense to think patrons will pay 27% on top of their bill.
This settlement amount seems ludicrous, crazy, insane and corrupt. It doesn't seem normal at all. How can any company give away 70 million dollars and think that's a smart business decision and will lead to profitability? Who is the lawyer that came up with this figure? How much are they being paid (probably 5 million). This deal smells funny. It smells outright rotten. Another play out of BOB's playbook. When will the stupidity/thievery end??? And, as stated above, the majority of these people will just get rehired and pocket the chunk of change!!!! How does the Bahamas even still exist???
I knew this would hapoen, that's why I slammed Minnis. 7.5% was actually the maximum level our fragile economy can withstand at current sallary levels. I expect Minnis will get less than under the previous 7.5% regime. There only is so much people are willing to pay before they change their spending habits. Now I don't go out to eat. Before the VAT changed I went out all the time. Less is sometimes more.
Just do a quick Google search and you will see that companies are often shut down after an accident for non compliance with the law in the US. If 4 C's had no personal liability insurance, which is required by law, that would be ample reason to shut it down after the accident. See one example of a trucking company shut down after an accident here: https://www.ishn.com/articles/96898-aft…
Bahamians are too thick skinned. That is our problem. Murder somebody, so what. Steal from the job, who cares. Smuggle drugs, just making a living. You see this "thick skinned" lack of empathy in our politicians too. Nobody gives a darn about anything or anybody. Unfortunately, good customer service in the modern world requires a certain amount of empathy, tenderness and "soft skin." More importantly, in the modern world there are consequences! If you steal from a bank by way of fraudulent loans, you go to jail. Not here aka BOB.
If you analyze this matter, you have a perfect example why the Bahamas is failing. No shame. You take tourists out in your boat, and it blows up mangling and killing them. The tourists still in intensive care and the report is not even out, and you back on the job hustling as though nothing happened. Talk about thick skin!!! Shameless.
Now all we need is a PLP press release saying it's racist to take this man's boats and everybody has the right to work. They will also say how the FNM caused the accident with their rich UBP backers.
Why not split each stall into two or three or four mini stalls for less rent and let every Bahamian have a chance to sell something to tourists on Bay Street. Then it would be the people's time!
In other news, Perry Christie makes front page of the Tribune stating that the FNM must pass the Freedom of Information Bill and the Fiscal Responsibility Bill. Don't we get it by now??? These guys are playing a game called bait and switch. It's all a game to them!!! The FNM will likely never pass this legislation (hopefully, I'm wrong).
BahamaPundit says...
Honest Truth My statements don't have much to with AML and more to do with what I see on the streets. AML is just the tip of the iceberg. I anticipate hundreds of companies to see revenue drop by 10% (at least) over the next couple years. Baha Mar occupency is down to 30% occupency apparently. Who's going to come here? In a country in which eating out is the only night entertainment, it's bad business sense to think patrons will pay 27% on top of their bill.
On VAT hike sparks 10% sales slump
Posted 19 July 2018, 3:11 p.m. Suggest removal
BahamaPundit says...
This settlement amount seems ludicrous, crazy, insane and corrupt. It doesn't seem normal at all. How can any company give away 70 million dollars and think that's a smart business decision and will lead to profitability? Who is the lawyer that came up with this figure? How much are they being paid (probably 5 million). This deal smells funny. It smells outright rotten. Another play out of BOB's playbook. When will the stupidity/thievery end??? And, as stated above, the majority of these people will just get rehired and pocket the chunk of change!!!! How does the Bahamas even still exist???
On BPL staggering $70m exit plan
Posted 19 July 2018, 2:18 p.m. Suggest removal
BahamaPundit says...
I knew this would hapoen, that's why I slammed Minnis. 7.5% was actually the maximum level our fragile economy can withstand at current sallary levels. I expect Minnis will get less than under the previous 7.5% regime. There only is so much people are willing to pay before they change their spending habits. Now I don't go out to eat. Before the VAT changed I went out all the time. Less is sometimes more.
On VAT hike sparks 10% sales slump
Posted 19 July 2018, 2:06 p.m. Suggest removal
BahamaPundit says...
Seems like boats are exploding in the US too (see link below). I never knew how dangerous boats were. http://www.wboc.com/story/38644125/four…
On 4C’s boat seized by port officials
Posted 19 July 2018, 12:28 a.m. Suggest removal
BahamaPundit says...
Just do a quick Google search and you will see that companies are often shut down after an accident for non compliance with the law in the US. If 4 C's had no personal liability insurance, which is required by law, that would be ample reason to shut it down after the accident. See one example of a trucking company shut down after an accident here: https://www.ishn.com/articles/96898-aft…
On 4C’s boat seized by port officials
Posted 19 July 2018, 12:17 a.m. Suggest removal
BahamaPundit says...
Bahamians are too thick skinned. That is our problem. Murder somebody, so what. Steal from the job, who cares. Smuggle drugs, just making a living. You see this "thick skinned" lack of empathy in our politicians too. Nobody gives a darn about anything or anybody. Unfortunately, good customer service in the modern world requires a certain amount of empathy, tenderness and "soft skin." More importantly, in the modern world there are consequences! If you steal from a bank by way of fraudulent loans, you go to jail. Not here aka BOB.
On 4C’s boat seized by port officials
Posted 18 July 2018, 10:36 a.m. Suggest removal
BahamaPundit says...
If you analyze this matter, you have a perfect example why the Bahamas is failing. No shame. You take tourists out in your boat, and it blows up mangling and killing them. The tourists still in intensive care and the report is not even out, and you back on the job hustling as though nothing happened. Talk about thick skin!!! Shameless.
On 4C’s boat seized by port officials
Posted 18 July 2018, 10:13 a.m. Suggest removal
BahamaPundit says...
Now all we need is a PLP press release saying it's racist to take this man's boats and everybody has the right to work. They will also say how the FNM caused the accident with their rich UBP backers.
On 4C’s boat seized by port officials
Posted 18 July 2018, 9:49 a.m. Suggest removal
BahamaPundit says...
Why not split each stall into two or three or four mini stalls for less rent and let every Bahamian have a chance to sell something to tourists on Bay Street. Then it would be the people's time!
On Evictions over Straw Market debts
Posted 16 July 2018, 2:16 p.m. Suggest removal
BahamaPundit says...
In other news, Perry Christie makes front page of the Tribune stating that the FNM must pass the Freedom of Information Bill and the Fiscal Responsibility Bill. Don't we get it by now??? These guys are playing a game called bait and switch. It's all a game to them!!! The FNM will likely never pass this legislation (hopefully, I'm wrong).
On Christie backs marijuana move
Posted 11 July 2018, 6:56 p.m. Suggest removal