Going to extremes isn't a productive counter argument. At some point you are limited by technology and administration costs for increased frequency of payment. Hopefully at some point in the future it is all managed automatically and you are paid in real time as you work. This is a matter of cash flow. Some people cannot afford to wait 2 weeks to be paid. Just like some business can't wait 2 weeks to be paid by their customers.
A similarly insidious pattern has developed in recent years among the countries serving as offshore financial centers. Many, like the countries affected by the resource curse, are former colonial states struggling to stay fiscally viable... For these economically and politically fragile countries, the influx of cash provided by involvement in international finance seems like an unmitigated blessing, offering jobs and revenues for a relatively small investment in infrastructure... But as many are finding, becoming a tax haven has unexpected costs. Precipitous economic, political, and social declines have occurred so often in such states that observers have coined a new term for it: “the finance curse.” When the "finance curse" strikes a country, there is a recurrent pattern: While its democracy, economy, and culture remain formally intact, they are increasingly oriented to and co-opted by international elites. In other words, such countries gradually become organized around the interests of people who don't even live there, to the detriment of those who do. The services produced by these countries protect cosmopolitans’ wealth, but the riches never flow to the the local producers, undermining their capacity for self-governance and social cohesion, as well as the development of infrastructure and institutions.
The financial sector has little impact to the Bahamian economy. You have financial institutions managing billions of dollars but it stays within the organisation while inflating our economy. If the country taxed these institutions they would leave. The only thing that makes the Bahamas attractive to them is the fact that they can keep more money to themselves.
This company's entire staff for Bahamas operations is 30. That's 30 jobs for managing billions of dollars. That's not that many jobs relative to the value of the business. Also how many of those 30 jobs are Bahamians?
Deuteronomy 24:15: *Pay them their wages each day before sunset, because they are poor and are counting on it. Otherwise they may cry to the Lord against you, and you will be guilty of sin.*
You have minimum wage and part time staff that can't afford to wait 2 weeks. They shouldn't have to send their children to bed hungry, waiting 2 weeks to be paid.
I see no major shifts in our society away from oil and gas. If we opposed this for environmental reasons we should also oppose electricity generation via oil and gas. Also transition to electric vehicles. Otherwise we're consuming the same amount of oil and gas expect buying it from other countries. Our environmental impact remains unchanged; this is an economic change.
Also we have to stop this FNM and PLP blame game. It's a distraction. The country has a problem; it doesn't matter which government is in power. I'm an Bahamian not a PLP or FNM this isn't a basketball game; people's lives are being ruined by the direction of the country.
It is a big deal! Do you know how much money was lost because the planes were down? Do we know how much extra was spent to rush the installation of the kits versus doing it in advance during one of the scheduled maintenance windows? no; we don't! why? Because our media does a horrible job at investigative journalism to help the common person understand what's happening in the country. And our politicians think we're all idiots.
Our democracy has failed and it's up to the common people to fight for our freedom and democracy again. We voted NO to legalization of gambling and they allowed it anyway. This added fuel to the rapid decline of Bahamian society. The family islands were hit hard by gambling the little money that would usually circulate within the islands economy is being siphoned out as people gamble for hope out of their situation.
One says...
Going to extremes isn't a productive counter argument. At some point you are limited by technology and administration costs for increased frequency of payment. Hopefully at some point in the future it is all managed automatically and you are paid in real time as you work.
This is a matter of cash flow. Some people cannot afford to wait 2 weeks to be paid. Just like some business can't wait 2 weeks to be paid by their customers.
On Staff fume at salaries change
Posted 4 February 2020, 1:18 p.m. Suggest removal
One says...
You are missing the point and your numbers are presented in a misleading manner.
I recommend giving this a read:
https://www.theatlantic.com/business/ar…
A similarly insidious pattern has developed in recent years among the countries serving as offshore financial centers. Many, like the countries affected by the resource curse, are former colonial states struggling to stay fiscally viable... For these economically and politically fragile countries, the influx of cash provided by involvement in international finance seems like an unmitigated blessing, offering jobs and revenues for a relatively small investment in infrastructure...
But as many are finding, becoming a tax haven has unexpected costs. Precipitous economic, political, and social declines have occurred so often in such states that observers have coined a new term for it: “the finance curse.” When the "finance curse" strikes a country, there is a recurrent pattern: While its democracy, economy, and culture remain formally intact, they are increasingly oriented to and co-opted by international elites. In other words, such countries gradually become organized around the interests of people who don't even live there, to the detriment of those who do. The services produced by these countries protect cosmopolitans’ wealth, but the riches never flow to the the local producers, undermining their capacity for self-governance and social cohesion, as well as the development of infrastructure and institutions.
On 30 jobs lost as Julius Baer closes
Posted 4 February 2020, 1:02 p.m. Suggest removal
One says...
The financial sector has little impact to the Bahamian economy. You have financial institutions managing billions of dollars but it stays within the organisation while inflating our economy. If the country taxed these institutions they would leave. The only thing that makes the Bahamas attractive to them is the fact that they can keep more money to themselves.
This company's entire staff for Bahamas operations is 30. That's 30 jobs for managing billions of dollars. That's not that many jobs relative to the value of the business. Also how many of those 30 jobs are Bahamians?
On 30 jobs lost as Julius Baer closes
Posted 4 February 2020, 10:53 a.m. Suggest removal
One says...
Deuteronomy 24:15:
*Pay them their wages each day before sunset, because they are poor and are counting on it. Otherwise they may cry to the Lord against you, and you will be guilty of sin.*
You have minimum wage and part time staff that can't afford to wait 2 weeks. They shouldn't have to send their children to bed hungry, waiting 2 weeks to be paid.
On Staff fume at salaries change
Posted 4 February 2020, 10:37 a.m. Suggest removal
One says...
I see no major shifts in our society away from oil and gas. If we opposed this for environmental reasons we should also oppose electricity generation via oil and gas. Also transition to electric vehicles. Otherwise we're consuming the same amount of oil and gas expect buying it from other countries. Our environmental impact remains unchanged; this is an economic change.
On DRILLING ON OFFSHORE PLATFORM IMMINENT
Posted 3 February 2020, 10:44 a.m. Suggest removal
One says...
Also we have to stop this FNM and PLP blame game. It's a distraction. The country has a problem; it doesn't matter which government is in power. I'm an Bahamian not a PLP or FNM this isn't a basketball game; people's lives are being ruined by the direction of the country.
On All Bahamasair planes now have correct navigation kits
Posted 31 January 2020, 4:50 p.m. Suggest removal
One says...
It is a big deal! Do you know how much money was lost because the planes were down? Do we know how much extra was spent to rush the installation of the kits versus doing it in advance during one of the scheduled maintenance windows? no; we don't! why? Because our media does a horrible job at investigative journalism to help the common person understand what's happening in the country. And our politicians think we're all idiots.
On All Bahamasair planes now have correct navigation kits
Posted 31 January 2020, 4:44 p.m. Suggest removal
One says...
Our democracy has failed and it's up to the common people to fight for our freedom and democracy again. We voted NO to legalization of gambling and they allowed it anyway. This added fuel to the rapid decline of Bahamian society. The family islands were hit hard by gambling the little money that would usually circulate within the islands economy is being siphoned out as people gamble for hope out of their situation.
On Island Luck co-founder a 'fugitive', says judge
Posted 31 January 2020, 4:35 p.m. Suggest removal
One says...
Weird picture...
On Minnis asks - how can you help?
Posted 12 September 2019, 4:05 p.m. Suggest removal
One says...
What a shame.
On Maynard tells BTC boss: go back to Jamaica - now
Posted 23 July 2019, 11:32 a.m. Suggest removal