Sounds like this letter writer needs a good lawyer.... I suggest Fred Smith QC.

I agree, these comments by Mr. Davies are really quite frankly pathetic. They are disingenuous in the least as he tries to "spin " the truth and the public. And it is insulting to shareholders like me who pay his salary and know better.

There is not a single company on BISX that has current financials posted. Not one. He is implying that it is the companies' fault in being late reporting. Commonwealth Bank reported second quarter figures two weeks ago and has them posted on their website. So he wants us to believe that BISX does not have their financials? What about the other companies, he expects us to believe they ALL are late? Stop lying to the public! Another company I am a shareholder of when contacted said they have turned over their financials some time ago, BISX just has failed to post them. I am sure this is the case for almost all of these companies. So Mr. Davies should be honest and accept responsibility. BISX has not updated their real time trade information for over a week, I understand they have an IT website problem and are trying to pass the buck.

Then Mr. Davies says it was sufficient to inform the brokers and not make a general announcement about the trading band change. That is wrong, these brokers are not proactive and almost all traders were amazed when they saw the change. How hard would it have been to simply post an announcement on BISX website? It is the responsibility of BISX to inform the public anyway, again just passing the buck, with pathetic excuses.

Shareholders are tired of excuses from BISX and Mr. Davies and tired of late reporting. BISX could try being open and honest with the public and mandate and enforce companies obligation to report. Companies that are late should be fined, heavily, and if Mr. Davis can not see that these reports are posted on time he should be fired.

BISX too really needs to be more timely and transparent in informing the investment community. Information is money on a stock exchange and information is not provided to the investment community in transparent, egalitarian and timely way.

We are more than two months past the last end of most companies second quarter June 30 and almost none of the statements have been posted to Bisx website. This is unacceptable. BISX needs to set firm reporting deadlines and stick to them. For example commonwealth bank has its second quarter results posted on its website but BISX does not, this is unacceptable. ICD several weeks ago in the newspaper published just a snippet of its second quarter results. They are obviously completed But to this day they have not been reported by BISX . This leads to an erosion of confidence in the local market and increases the likelihood of insider trading on information that should have long ago been made public.

BISX please FIX this reporting nightmare, and fire whoever is currently responsible for reporting company financial statements because they are incompetent.

I agree BOB should be liquidated but it should not be done immediately. That would prove too much of a shock to the banking system and might precipitate a run on banks that would be difficult to contain. This is a royal mess, bob owes depositors 684 million, and as of second quarter figures only has 120million in liquid assets.

BOB could sell its loan portfolio but 35% of that is non accrual loans. No matter how generously you calculate it BoB assets are at least 200 million short of making depositors whole. And that is being generous. This bank is for all intents and purposes insolvent and would have collapsed but for government support. The irony is that it is govt involvement that helped run it into the ground, and now only govt involvement keeping it alive.

What should be done is to develop a credible plan to slowly liquidate this bank, selling off assets, trying to make depositors as whole as possible. Bahamians should remember that depositor insurance in this country is only up to $50,000 in a single account. Why persons continue to place deposits in this bank when so many other safer options are available is beyond me.

If RBC owns this holding company, which I fully expect, then they own the interest in Finco. As a matter of fact they own 75% of the shares in Finco.

As for operating as a separate entity that is not true. Finco has closed several branches and merged some into the same premises as RBC branches. Also much of the technical IT and back office work is being done by RBC staff, finco pays an annual fee to RBC for these services.

Also Finco has borrowed tens of millions of dollars from RBC at very favorable rates. Certainly they are a wholly separate entity in name only, they do not operate as a separate entity in reality.

It appears John was referring to Finco, which is majority owned by RBC and which has suspended dividends for about 2 years.

This government and for that matter the last one have no vison or competence to fix our electricity woes. Of course rates have to be increased to supply an new efficient plant that will lower electricity bills over the long run and be much more environmentally friendly than the toxic, aged generators we have that can break down at any moment.

An innovative way to deal with rates is to provide the first 100 kwhrs of power free to every consumer in the Bahamas. This will enable the poorest of families to have a basic minimum of power, enough for lights, a refrigerator, and a tv. It is shameful and scandalous that over 5000 households have been disconnected. It is not possible to have a properly functioning country with so many citizens without electricity. Then of course rates have to be increased for each additional 100 kwhrs of consumption. This way the richest and those who consume the most elec. subsidize those who can not pay for the bare minimum. I believe most fair minded Bahamians would agree with this arrangement.

With this of course is an absolute zero tolerance for unpaid bills. Persons would have an incentive to pay their bill as they want to receive the following months 100 kwhrs free. The power company should be fully privatized with no govt influence whatsoever, and of course rates should be adjusted so that the private owner earns a fair profit on his investment. This is easily done, public utilities are the the most regulated industry in the world. It is being done now in grand bahama, there is a new efficient plant, far fewer outages, reasonable rates, and a fixed profit margin for the privately owned GBPC.

Is our DPM serious? He can not be that dumb, maybe he is, it would explain a lot. Lower electricity rates are simply because the price of oil has fallen significantly. period. And I have as much impact on the price of oil as he or BPL does,which is none. So he should shut up and let us presume how dumb he is, for each time he opens his mouth he removes all doubt.

How would Mr. Fitzgerald like it if someone stole his private emails and made them public? This is criminal, where is the police commissioner - silent again. There is no law in this country for the political elite, and sadly no shame or honor, especially in Mr. Fitzgerald. In a civilized country if he was an honorable person he would have already resigned.

We are fast approaching becoming a failed state. This will be christie's wonderful legacy. A bankrupt, polluted country.