Is the government catering to a certain group by paying dividends to BoB preference shareholders or has the bank made significant recovery to afford this????
Government should not get too comfortable with the Vat numbers. In fact they should expect to see a decline in VAT revenue as early as first quarter 2015. One major reason being that many businesses did not decrease their inventory pre vat because they were led to believe that they would be allowed to discount this inventory for vat. As this inventory is depleted merchants will realize an increase in the cost of their goods sold and will, consequently, have to increase prices. This will lead to lower sales and less vat revenue. Secondly, most businesses, retail especially are experiencing a decline in sale, due to a seriously weak economy. Many have attempted to drive sales with deep discounts, more promotions and extended hours. While this may produce positive results in the short term, high overhead costs will not allow this to continue indefinitely . Do you may see more business closures by June 2016. Remember also that government has also increased its taxes on businesses exclusive of VAT. Then there is the looming NHI tax. There has been virtually no real growth in the economy or improvement in unemployment. So most of the VAT revenue the government seems happy with is from a stagnant or shrinking economy feeding on itself.
The facts are Perry Chrisrie single handedly caused the protracted delay (and possible demise) of Bah Mar. When Izmiriland realized that China Construction America was dragging its two feet and not trying to complete Bah Mar in a timely manner and also that it was doing shoddy work it asked that CCA be fired from the project. After China Exim bank refused this request, Bah Mar had reason to believe that the Chinese (bank and construction company) were in cohoots with each other. So it (Bah Mar). sought to protect itself by filing for bankruptcy. Perry Christie flew his team of misinformed "negotiators" to China more than once to meet with the Chinese, even in the absence of Bah Mar reps. And now months later, the Bah Mar projects sits whistling in the wind. Unfinished and unoccupied. A white elephant to some, a black eye to many. Now China ExIm bank is saying it no longer wants China Construction (America) on the project. Wasn't this the point of contention in the first place? And while China ExIm bank and the Christie government may have severely disenfranchised Bah Mar by failing to fire CCA, the bank is trying to get full value on the sale of Bah Mar. Shouldn't they be trying to make amends with Bah Mar to lessen the penalties when they a$$ get sued by Bsh Mar?
Anyone who was following the trend in murders in this country will see that the killings are increasing at an increasing rate. It increased from 127 in 2014 to near 150 at current. If the trend continues, unabated this country will record around 179 murders in 2016. The situation is not one of strangers killing other strangers, but persons killing persons known to them. It is now becoming engrained in our culture that is some one offends you take them out. Persons who tote weapons, knives, guns, screwdrivers, whatever, eventually will be tempted to use them. The ending result will be obvious. There needs to be intervention prior to police involvement a resetting of the mindset of the general population.
A former senior official in China who was in charge of an agency responsible for regulating a waste heap that collapsed last week with the loss of more than 70 people has committed suicide, police said on Monday.
The government has not blamed anyone for the disaster in the southern city of Shenzhen on Dec. 20, when the dump overflowed and engulfed 33 buildings in an industrial park, but on Saturday it blamed breaches of construction safety rules.
Two people have been confirmed dead while more than 70 are missing.
The former director of the Guangming New District Urban Management Bureau, a man surnamed Xu, had committed suicide, district police said in a microblog post, adding that police had received a report that a person had fallen from a building late on Sunday.
Police made no link between Xu's death and the disaster. The government had warned earlier that those held responsible would be "seriously punished in accordance with the law".
Even in the waning hours of 2015 and nearing the eve of a new year the bloodiest year in recent history of the Bahamas is experiencing even more carnage, especially with the murders and now with traffic accidents on New Providence and numerous family islands.
retailers in the US have $346 million in winter inventory they were not able to sell because of the unusually hot winter. Customers and buying golf shirts and slippers rather than the usual winter gear of jackets, gloves and tams and lawnmowers instead of snow plows. Bahamians love a cooler Christmas, so they can go to Junkanoo and the carnival with all their clothes on and make a fashion statement. Also many Bahamians use this time to save on their electricity bill but so far it has not been blanket weather and some are still cranking the A/C's.
The fact is Bah Mar would have been open some three months ago if the government did not meddle in the affairs of this company. Not only did they meddle but they acted on poor advice. Misinformation. And as more information comes out, it appears that no one else is willing to take over the property unless they do what Bah Mar was seeking to do : ***F I R E*** China Construction America and harness the cost overruns and stop shoddy work. Now it will take close to another billion dollars to do what Bah Mar could have done for $400 million.
First of all "tazing" a person with mental disorders can be very dangerous to that individual. It can make him more violent and more aggressive in his attack on individuals. The police need to have certain officers and/or a medical team trained on how to suppress and tranuualize then restrain these patients. Secondly families who have members who are mental patients should ensure that these persons are taking their medication and taking it on time. Christmas is a very stressful time of the year and the changes in the weather tend to trigger these individuals. They can go from calm to violent in a split second and attack without warning. Another person with a mental disorder was recently found in someone's house, sleeping in their bed with the shower water flooding the house. Unfortunately, too, the population of persons with mental disorders is increasing. This is due to substance abuse, the inability to cope with day to day life situations and even physical injuries. Some are even victims of hurricane Joquin.
John says...
*should read 'first quarter 2016."
On Gov’t eyes $350m net via ‘outperforming’ VAT
Posted 30 December 2015, 9:47 a.m. Suggest removal
John says...
Is the government catering to a certain group by paying dividends to BoB preference shareholders or has the bank made significant recovery to afford this????
On More Bahamians now working, claims Labour Minister Gibson
Posted 30 December 2015, 3:21 a.m. Suggest removal
John says...
Government should not get too comfortable with the Vat numbers. In fact they should expect to see a decline in VAT revenue as early as first quarter 2015. One major reason being that many businesses did not decrease their inventory pre vat because they were led to believe that they would be allowed to discount this inventory for vat. As this inventory is depleted merchants will realize an increase in the cost of their goods sold and will, consequently, have to increase prices. This will lead to lower sales and less vat revenue. Secondly, most businesses, retail especially are experiencing a decline in sale, due to a seriously weak economy. Many have attempted to drive sales with deep discounts, more promotions and extended hours. While this may produce positive results in the short term, high overhead costs will not allow this to continue indefinitely . Do you may see more business closures by June 2016. Remember also that government has also increased its taxes on businesses exclusive of VAT. Then there is the looming NHI tax. There has been virtually no real growth in the economy or improvement in unemployment. So most of the VAT revenue the government seems happy with is from a stagnant or shrinking economy feeding on itself.
On Gov’t eyes $350m net via ‘outperforming’ VAT
Posted 30 December 2015, 3:10 a.m. Suggest removal
John says...
The facts are Perry Chrisrie single handedly caused the protracted delay (and possible demise) of Bah Mar. When Izmiriland realized that China Construction America was dragging its two feet and not trying to complete Bah Mar in a timely manner and also that it was doing shoddy work it asked that CCA be fired from the project. After China Exim bank refused this request, Bah Mar had reason to believe that the Chinese (bank and construction company) were in cohoots with each other. So it (Bah Mar). sought to protect itself by filing for bankruptcy. Perry Christie flew his team of misinformed "negotiators" to China more than once to meet with the Chinese, even in the absence of Bah Mar reps. And now months later, the Bah Mar projects sits whistling in the wind. Unfinished and unoccupied. A white elephant to some, a black eye to many. Now China ExIm bank is saying it no longer wants China Construction (America) on the project. Wasn't this the point of contention in the first place? And while China ExIm bank and the Christie government may have severely disenfranchised Bah Mar by failing to fire CCA, the bank is trying to get full value on the sale of Bah Mar. Shouldn't they be trying to make amends with Bah Mar to lessen the penalties when they a$$ get sued by Bsh Mar?
On PM expects completion of Baha Mar early next year
Posted 30 December 2015, 2:51 a.m. Suggest removal
John says...
Anyone who was following the trend in murders in this country will see that the killings are increasing at an increasing rate. It increased from 127 in 2014 to near 150 at current. If the trend continues, unabated this country will record around 179 murders in 2016. The situation is not one of strangers killing other strangers, but persons killing persons known to them. It is now becoming engrained in our culture that is some one offends you take them out. Persons who tote weapons, knives, guns, screwdrivers, whatever, eventually will be tempted to use them. The ending result will be obvious. There needs to be intervention prior to police involvement a resetting of the mindset of the general population.
On Man, 20, stabbed to death in Yellow Elder Gardens after argument over food
Posted 29 December 2015, 6:03 p.m. Suggest removal
John says...
A former senior official in China who was in charge of an agency responsible for regulating a waste heap that collapsed last week with the loss of more than 70 people has committed suicide, police said on Monday.
The government has not blamed anyone for the disaster in the southern city of Shenzhen on Dec. 20, when the dump overflowed and engulfed 33 buildings in an industrial park, but on Saturday it blamed breaches of construction safety rules.
Two people have been confirmed dead while more than 70 are missing.
The former director of the Guangming New District Urban Management Bureau, a man surnamed Xu, had committed suicide, district police said in a microblog post, adding that police had received a report that a person had fallen from a building late on Sunday.
Police made no link between Xu's death and the disaster. The government had warned earlier that those held responsible would be "seriously punished in accordance with the law".
On Man shot dead at Christmas night party
Posted 28 December 2015, 1:53 p.m. Suggest removal
John says...
Even in the waning hours of 2015 and nearing the eve of a new year the bloodiest year in recent history of the Bahamas is experiencing even more carnage, especially with the murders and now with traffic accidents on New Providence and numerous family islands.
On Two men shot dead, woman turns herself in to police
Posted 28 December 2015, 1:47 p.m. Suggest removal
John says...
retailers in the US have $346 million in winter inventory they were not able to sell because of the unusually hot winter. Customers and buying golf shirts and slippers rather than the usual winter gear of jackets, gloves and tams and lawnmowers instead of snow plows. Bahamians love a cooler Christmas, so they can go to Junkanoo and the carnival with all their clothes on and make a fashion statement. Also many Bahamians use this time to save on their electricity bill but so far it has not been blanket weather and some are still cranking the A/C's.
On Christmas Day will be hot for Bahamians say forecasters
Posted 24 December 2015, 1:51 p.m. Suggest removal
John says...
The fact is Bah Mar would have been open some three months ago if the government did not meddle in the affairs of this company. Not only did they meddle but they acted on poor advice. Misinformation. And as more information comes out, it appears that no one else is willing to take over the property unless they do what Bah Mar was seeking to do : ***F I R E*** China Construction America and harness the cost overruns and stop shoddy work. Now it will take close to another billion dollars to do what Bah Mar could have done for $400 million.
On Butler-Turner: PLP wants to hold convention at Baha Mar
Posted 24 December 2015, 4:32 a.m. Suggest removal
John says...
First of all "tazing" a person with mental disorders can be very dangerous to that individual. It can make him more violent and more aggressive in his attack on individuals. The police need to have certain officers and/or a medical team trained on how to suppress and tranuualize then restrain these patients. Secondly families who have members who are mental patients should ensure that these persons are taking their medication and taking it on time. Christmas is a very stressful time of the year and the changes in the weather tend to trigger these individuals. They can go from calm to violent in a split second and attack without warning. Another person with a mental disorder was recently found in someone's house, sleeping in their bed with the shower water flooding the house. Unfortunately, too, the population of persons with mental disorders is increasing. This is due to substance abuse, the inability to cope with day to day life situations and even physical injuries. Some are even victims of hurricane Joquin.
On Police shoot naked man after chase near Saunders Beach
Posted 24 December 2015, 4:23 a.m. Suggest removal