The fact that the Commission rate is fixed at 6% and 10% is ridiculous. Every year real estates agents say Government should cut what it takes from the sale of land in order to spur growth in real estate sales, but they never talk about them receiving reduced commission. There is no incentive in this country to acquire a dilapidated house and do it up to sell as you will not be able to make a return on your investment with all the fees you are charged.
Yet again why are we still on this. Yes government can make merchants charge for the bag, and yes a merchant does not have to provide an alternate. I fully expect come the outright ban that the same people complaining are going to complain when the stores increase prices to be able to provide alternates (a plastic bag costs less then a cent the alternate are well over that so if they provide alternates there will be an increase in the cost of items).
AS the above two posted have said the only way to reverse the change is opening the economy. This is never going to happen so expect the continue decline.
Then it is the fault of the Government not the industry. This is the same as the oil curse, and yet some countries have benefited from it (Norway) whilst others haven't. I am fairly sure we have these issues with Atlantis and BahaMar having undo influence. Would you therefore say we should close down our tourism industry? It's easy to blame the industry when in reality the problems from it will be due to the Government that is meant to regulate it.
Yup it only accounts for 10-15% of our GDP, and employs some 3,862 Bahamians and 267 foreigners (though about 2,500 Bahamains were in local banking, so 1,362 in offshore). Banks also spent $710 million of which almost $325 million was salaries. But yeah not that important. Note these are all from 2017 https://www.centralbankbahamas.com/down…
Not really the Minnis factor, its successive Governments at work as well as the black listing. WE have known for years that the financial industry was in decline and needed a major reboot. Unfortunately all we did was talk about what needed to be done and then never did anything. Until the major change happens it will decline. Seeing as one of those major changes would be the opening up of the work permit system to make it easier and more efficient to obtain, and this is highly unlikely to happen i would expect the continued slow decline of this industry. But thats OK as it only provided many Bahamians with a way of entering the middle class or being able to get employment overseas and thereby getting out of here.
If you are borrowing you are not setting aside the money. We all know we have hurricanes here. They need to mandate that we run a surplus every year there is no hurricane. And then in the years when there is they use the surplus funds and then borrow to cover the expenditure. As it is even in years of no hurricanes we run deficits of hundreds of millions of dollars. Showing the world that just like the last lot of Governments we are useless.
LOL man they going to milk Dorian for a long time. Yes Dorian has caused you to borrow a lot more, but it didn't cause you to borrow. You were going to do that no matter what happened. As such it wasn't Dorian that caused you to borrow but your mismanagement of the economy and lack of balls to make hard decisions.
Dawes says...
The fact that the Commission rate is fixed at 6% and 10% is ridiculous. Every year real estates agents say Government should cut what it takes from the sale of land in order to spur growth in real estate sales, but they never talk about them receiving reduced commission. There is no incentive in this country to acquire a dilapidated house and do it up to sell as you will not be able to make a return on your investment with all the fees you are charged.
On Realtors close on reforms to 'take it to another level'
Posted 10 February 2020, 3:38 p.m. Suggest removal
Dawes says...
Yet again why are we still on this. Yes government can make merchants charge for the bag, and yes a merchant does not have to provide an alternate. I fully expect come the outright ban that the same people complaining are going to complain when the stores increase prices to be able to provide alternates (a plastic bag costs less then a cent the alternate are well over that so if they provide alternates there will be an increase in the cost of items).
On Next stop’s court for plastic ban offenders
Posted 7 February 2020, 10:48 a.m. Suggest removal
Dawes says...
AS the above two posted have said the only way to reverse the change is opening the economy. This is never going to happen so expect the continue decline.
On Bank contraction threatens 'way of life' for Bahamas
Posted 6 February 2020, 5:10 p.m. Suggest removal
Dawes says...
Ha HA even those who may actually report will be lying. All bark and no bite
On March 1 deadline for asset disclosures
Posted 6 February 2020, 1:48 p.m. Suggest removal
Dawes says...
Then it is the fault of the Government not the industry. This is the same as the oil curse, and yet some countries have benefited from it (Norway) whilst others haven't. I am fairly sure we have these issues with Atlantis and BahaMar having undo influence. Would you therefore say we should close down our tourism industry? It's easy to blame the industry when in reality the problems from it will be due to the Government that is meant to regulate it.
On 30 jobs lost as Julius Baer closes
Posted 4 February 2020, 1:31 p.m. Suggest removal
Dawes says...
Yup it only accounts for 10-15% of our GDP, and employs some 3,862 Bahamians and 267 foreigners (though about 2,500 Bahamains were in local banking, so 1,362 in offshore). Banks also spent $710 million of which almost $325 million was salaries. But yeah not that important. Note these are all from 2017 https://www.centralbankbahamas.com/down…
On 30 jobs lost as Julius Baer closes
Posted 4 February 2020, 12:37 p.m. Suggest removal
Dawes says...
Not really the Minnis factor, its successive Governments at work as well as the black listing. WE have known for years that the financial industry was in decline and needed a major reboot. Unfortunately all we did was talk about what needed to be done and then never did anything. Until the major change happens it will decline. Seeing as one of those major changes would be the opening up of the work permit system to make it easier and more efficient to obtain, and this is highly unlikely to happen i would expect the continued slow decline of this industry. But thats OK as it only provided many Bahamians with a way of entering the middle class or being able to get employment overseas and thereby getting out of here.
On 30 jobs lost as Julius Baer closes
Posted 4 February 2020, 9:32 a.m. Suggest removal
Dawes says...
If you are borrowing you are not setting aside the money. We all know we have hurricanes here. They need to mandate that we run a surplus every year there is no hurricane. And then in the years when there is they use the surplus funds and then borrow to cover the expenditure. As it is even in years of no hurricanes we run deficits of hundreds of millions of dollars. Showing the world that just like the last lot of Governments we are useless.
On Govt seeks extra $120m for non-Dorian spending
Posted 31 January 2020, 9:22 a.m. Suggest removal
Dawes says...
LOL man they going to milk Dorian for a long time. Yes Dorian has caused you to borrow a lot more, but it didn't cause you to borrow. You were going to do that no matter what happened. As such it wasn't Dorian that caused you to borrow but your mismanagement of the economy and lack of balls to make hard decisions.
On Dorian bill leaves no option to borrowing
Posted 30 January 2020, 12:09 p.m. Suggest removal
Dawes says...
Gas stores don't either.
On We deserve better service
Posted 30 January 2020, 9:33 a.m. Suggest removal