don't think for a minute that either the China Bank or the China Construction company are anxious to go to court on this matter either. The charges of collusion and sabotage made against them are serious and can have far reaching and costly consequences
Well the good thing is if they can get past the completion stage, then the risk is no longer on Izmirlian alone. There will be four hotel operators that will be expected to draw guests to the property, plus the casino and golf course. Then the residents and time share units will generate additional revenue Also the shops and restaurants will have to draw their patrons as well. The worst scenario is that the majority of Bah Mar's guest check in, then catch a taxi to go spend the day at Atlantis' water park. (of course Atlantis wouldn't mind) Other attractions will now have to be developed in Cable Beach.
In the main time the drunk a$$ police guy continue to go around threatening store keepers. To lock them up. No brought upsey is obvious. He has post natal problems. 6000 Bahamian homes are w/o light. Crime is on the increase murder is through the roof. Your government has increased taxes on the hard working struggling Bahamian but gave away $1.5 billion to a company that seems too big for the economy. Vote ya conscience!
Not a political football but if the current trend continues to May 2017, another 268 persons will not be able to cast their votes. Sadly but truly they would have been murdered in the 22 months leading up to elections. But then we should also recognize that on its current trend the murder rate is increasing so it may be more.
Is the scared straight program still up and operating? Even though it has been proven to produce negative results and has been abandoned by most states in the U.S. Ain't nothing more real than hearing someone getting killed in this country every 2 1/2 days and most of them are young men in their 20's or younger. Statistics indicate that at least another sixty five will die at the hands of a killer before December 31, 2015. Are you scared straight yet?
@sheeprunner : at least 30% of the workers in this country are around or at minimum wage. But you must also understand that when you increase the bottom worker, you must also increase those immediately above them. So if you increase a new worker form $150.00 to $210.00 you must also increase the worker who was at $210.00 by the same percentage which would now put his wage at $295.00. You should also remember that the national insurance for these workers will also increase causing another 6 percent cost increase on the employer. Lets say a company has 50 workers at $150 that they was now move to $210.0. That is a $3,000 (three thousand dollar) increase in labor costs per week. Now lets say this same company has 10 workers at $210 that it must now move to $294.00 per week. That is an additional $840.00 the company must find each week for a total increase of $3,840.00. So where does these funds come from? Lets assume that the company wants to keep labor costs as 20% of sales. This means that the company must now increase its sales by $19,200 (nineteen thousand two hundred dollars) a week or increase its prices by 20% or a combination of both. Which company in the Bahamas you know of can increase its sales by $19,000.00 a week.... overnight? It is not a matter of NOT being in favor of a minimum wage increase but in all his experience in trade unions and labor, shane gibson, knows he has never negotiated and received a fourty percent pay increase for workers! Then to be so arrogant and cocky and threaten employers, many of whom have been in a struggle since the recession hit in 2008,. But we shall see what we shall see...prepare for a gloomy Christmas! The economy is still hemmoraging from VAT, then you talking about NHI.. in a few months.
The fear I have for Bah Mar is that even when all this legal wrangling is over about ownership and who owes whois over and done with, there will still be a great battle to turn this property into a success story. It is not that the world economy is such that there are hundreds of persons coming to the Bahamas on a weekly basin and cannot find living accommodations. Bah Mar will have to create its own market and build its own customer base. It will have to attract persons to the Bahamas and to Bah Mar. This will take some time, especially after all the negative publicity surrounding the property. It is understood that Izmirilian, through his other business ventures has access to many of the high rollers needed to create a good customer base at the resort. It was also mentioned that the Chinese would attract high value persons from China to the resort but now that country (China) seems to be rapidly sliding into a recession. No one (except the lawyers) is benefitting from the property sitting idle and not completed and the longer the standoff drags on the ore value and chances for success the property will lose
while the bah mar saga is used as a distraction, your government, in the person of Shane Gibson, is trying to sneak into law a forty percent increase in the minimum wage. On August 15 the minimum wage will shoot up from $150.00 a week to $210.00 a week. This will kill many labor intensive businesses as they will have to increase proportionately all their workers in line with the 40% increase the minimum wagers will be getting and put many others into the red. On the supply side many workers will now find themselves 'unemployable' as employers will be seeking the brightest and more productive workers. A minimum wage of $175.00 would have been more suited to the current economic climate even if an additional increase was given in two - three years. A minimum wage is set for persons entering the job market with the expectation that they will increase their skills and experience. With the wage now being set at $210.00 workers no longer will have the motivation to improve, but push for a further increase in a few years.
John says...
If that is the case then it serves no one to allow this matter to drag ob and/or to go to trial.
On CCA Bahamas believes swift resolution could see Baha Mar open for winter season
Posted 25 July 2015, 2:30 a.m. Suggest removal
John says...
don't think for a minute that either the China Bank or the China Construction company are anxious to go to court on this matter either. The charges of collusion and sabotage made against them are serious and can have far reaching and costly consequences
On Govt delegation heads to China to resume Baha Mar negotiations
Posted 25 July 2015, 2:25 a.m. Suggest removal
John says...
Well the good thing is if they can get past the completion stage, then the risk is no longer on Izmirlian alone. There will be four hotel operators that will be expected to draw guests to the property, plus the casino and golf course. Then the residents and time share units will generate additional revenue Also the shops and restaurants will have to draw their patrons as well. The worst scenario is that the majority of Bah Mar's guest check in, then catch a taxi to go spend the day at Atlantis' water park. (of course Atlantis wouldn't mind) Other attractions will now have to be developed in Cable Beach.
On Govt delegation heads to China to resume Baha Mar negotiations
Posted 25 July 2015, 2:02 a.m. Suggest removal
John says...
In the main time the drunk a$$ police guy continue to go around threatening store keepers. To lock them up. No brought upsey is obvious. He has post natal problems. 6000 Bahamian homes are w/o light. Crime is on the increase murder is through the roof. Your government has increased taxes on the hard working struggling Bahamian but gave away $1.5 billion to a company that seems too big for the economy. Vote ya conscience!
On Govt delegation heads to China to resume Baha Mar negotiations
Posted 24 July 2015, 9:17 p.m. Suggest removal
John says...
Not a political football but if the current trend continues to May 2017, another 268 persons will not be able to cast their votes. Sadly but truly they would have been murdered in the 22 months leading up to elections. But then we should also recognize that on its current trend the murder rate is increasing so it may be more.
On BREAKING NEWS: Man, 46, dies after shooting in Grand Bahama
Posted 24 July 2015, 7:34 p.m. Suggest removal
John says...
Is the scared straight program still up and operating? Even though it has been proven to produce negative results and has been abandoned by most states in the U.S. Ain't nothing more real than hearing someone getting killed in this country every 2 1/2 days and most of them are young men in their 20's or younger. Statistics indicate that at least another sixty five will die at the hands of a killer before December 31, 2015. Are you scared straight yet?
On BREAKING NEWS: Man, 46, dies after shooting in Grand Bahama
Posted 24 July 2015, 6:45 p.m. Suggest removal
John says...
If I hire you and I pay you then I will tell you what to write. Any questions?
On New report contradicts auditor on Urban Renewal
Posted 23 July 2015, 1:58 p.m. Suggest removal
John says...
@sheeprunner : at least 30% of the workers in this country are around or at minimum wage. But you must also understand that when you increase the bottom worker, you must also increase those immediately above them. So if you increase a new worker form $150.00 to $210.00 you must also increase the worker who was at $210.00 by the same percentage which would now put his wage at $295.00. You should also remember that the national insurance for these workers will also increase causing another 6 percent cost increase on the employer. Lets say a company has 50 workers at $150 that they was now move to $210.0. That is a $3,000 (three thousand dollar) increase in labor costs per week. Now lets say this same company has 10 workers at $210 that it must now move to $294.00 per week. That is an additional $840.00 the company must find each week for a total increase of $3,840.00. So where does these funds come from? Lets assume that the company wants to keep labor costs as 20% of sales. This means that the company must now increase its sales by $19,200 (nineteen thousand two hundred dollars) a week or increase its prices by 20% or a combination of both. Which company in the Bahamas you know of can increase its sales by $19,000.00 a week.... overnight? It is not a matter of NOT being in favor of a minimum wage increase but in all his experience in trade unions and labor, shane gibson, knows he has never negotiated and received a fourty percent pay increase for workers! Then to be so arrogant and cocky and threaten employers, many of whom have been in a struggle since the recession hit in 2008,. But we shall see what we shall see...prepare for a gloomy Christmas! The economy is still hemmoraging from VAT, then you talking about NHI.. in a few months.
On Chapter 11 bid refused: Baha Mar application denied, Govt ‘vindicated’ by ruling
Posted 23 July 2015, 9:28 a.m. Suggest removal
John says...
The fear I have for Bah Mar is that even when all this legal wrangling is over about ownership and who owes whois over and done with, there will still be a great battle to turn this property into a success story. It is not that the world economy is such that there are hundreds of persons coming to the Bahamas on a weekly basin and cannot find living accommodations. Bah Mar will have to create its own market and build its own customer base. It will have to attract persons to the Bahamas and to Bah Mar. This will take some time, especially after all the negative publicity surrounding the property. It is understood that Izmirilian, through his other business ventures has access to many of the high rollers needed to create a good customer base at the resort. It was also mentioned that the Chinese would attract high value persons from China to the resort but now that country (China) seems to be rapidly sliding into a recession. No one (except the lawyers) is benefitting from the property sitting idle and not completed and the longer the standoff drags on the ore value and chances for success the property will lose
On Baha Mar court battle may be long, expert warns
Posted 22 July 2015, 7:45 p.m. Suggest removal
John says...
while the bah mar saga is used as a distraction, your government, in the person of Shane Gibson, is trying to sneak into law a forty percent increase in the minimum wage. On August 15 the minimum wage will shoot up from $150.00 a week to $210.00 a week. This will kill many labor intensive businesses as they will have to increase proportionately all their workers in line with the 40% increase the minimum wagers will be getting and put many others into the red. On the supply side many workers will now find themselves 'unemployable' as employers will be seeking the brightest and more productive workers. A minimum wage of $175.00 would have been more suited to the current economic climate even if an additional increase was given in two - three years. A minimum wage is set for persons entering the job market with the expectation that they will increase their skills and experience. With the wage now being set at $210.00 workers no longer will have the motivation to improve, but push for a further increase in a few years.
On Chapter 11 bid refused: Baha Mar application denied, Govt ‘vindicated’ by ruling
Posted 22 July 2015, 5:57 p.m. Suggest removal