We have put our management company on notice and will be bringing 4 top services in-community utilizing part-time employees of the association. We will also barter using our association-owned equipment. We expect a nominal increase in costs due to VAT. We think that we can mitigate the increase through increased efficiencies and agreed annual escalation in fees. Got accountant? Check ERG.
Mr. Roberts can easily cover most of SV's increased costs by squeezing out the gross inefficiencies in his operations. SV's products are priced relatively high to cover those inefficiencies. Perhaps we need another major competitor. Anyone miss pre-Sands/Farrington/Barbados City Markets?
Who should be responsible for Bahama Waste's lousy credit policies? Companies who make bad decisions regarding who they extend credit to are often burned by delinquent accounts. Perhaps they should front-end VAT collection on risky accounts.
Sands was simply a figure head. He was chairman of bsl; bsl Holdings was the parent company led by Farrington. BSL Holdings was owned by a Bahamian group, BS&T Holdings and later Neal & Massey - a deal reportedly structured by Sundergee of Fidelity Bank. Fidelity's total capital raise for BSL was $77 million!! BSL Holdings and Finlayson made many mistakes and basically did not have the right horses to pull the wagon. I believe they did not retain the talent that made the pre-acquisition BSL successful.
When the B. Sands group acquired BSL I believe there was average annual net earnings of $3 million + and approx. $4 mil in cash. The pension plan was liquid with, I am told by an employee accountant, $6 million in cash and $8 million + in other assets. There may have been unallocated reserves included. The B. Sands group was burdened with debt, hubris, and poor management decisions. They raped the plan and suffered significant losses. The Finlayson group simply did know the business. Pension trustees under the Sands and Finlayson groups were grossly negligent in managing the plan. The employees in the plan should have moved to have them replaced immediately through the courts. An independent accounting is necessary to show just how the proceeds of asset sales and disbursements were handled. The remaining asset, the East-West Highway property, must be preserved and secured. I agree - trustees must be brought before the court and held accountable. L. Percentie.
PercentieL says...
White is not a colour, but a state of mind.
On Govt says sorry to UBS executive
Posted 17 January 2014, 6:37 a.m. Suggest removal
PercentieL says...
We have put our management company on notice and will be bringing 4 top services in-community utilizing part-time employees of the association. We will also barter using our association-owned equipment. We expect a nominal increase in costs due to VAT. We think that we can mitigate the increase through increased efficiencies and agreed annual escalation in fees. Got accountant? Check ERG.
On Gated communities fearing VAT fee rises of up to 32%
Posted 9 November 2013, 1:50 p.m. Suggest removal
PercentieL says...
Are D'Aguilar's views relevant? He adds little value to the conversation.
On Gov’t makes ‘poor case’ on VAT need
Posted 9 November 2013, 8:47 a.m. Suggest removal
PercentieL says...
???
On Gov’t makes ‘poor case’ on VAT need
Posted 9 November 2013, 8:45 a.m. Suggest removal
PercentieL says...
Mr. Roberts can easily cover most of SV's increased costs by squeezing out the gross inefficiencies in his operations. SV's products are priced relatively high to cover those inefficiencies. Perhaps we need another major competitor. Anyone miss pre-Sands/Farrington/Barbados City Markets?
On VAT uncertainty: Super Value puts $1m expansion 'on hold'
Posted 29 October 2013, 10:29 p.m. Suggest removal
PercentieL says...
Who should be responsible for Bahama Waste's lousy credit policies? Companies who make bad decisions regarding who they extend credit to are often burned by delinquent accounts. Perhaps they should front-end VAT collection on risky accounts.
On Bahamas Waste: VAT's impact 'pretty huge' if no write-off credit
Posted 29 October 2013, 10:19 p.m. Suggest removal
PercentieL says...
Sands was simply a figure head. He was chairman of bsl; bsl Holdings was the parent company led by Farrington. BSL Holdings was owned by a Bahamian group, BS&T Holdings and later Neal & Massey - a deal reportedly structured by Sundergee of Fidelity Bank. Fidelity's total capital raise for BSL was $77 million!! BSL Holdings and Finlayson made many mistakes and basically did not have the right horses to pull the wagon. I believe they did not retain the talent that made the pre-acquisition BSL successful.
On City Markets' pension trustees in 'strike out'
Posted 7 October 2013, 7:33 a.m. Suggest removal
PercentieL says...
Should have read "The Finlayson group simply did NOT know the business".
On City Markets' pension trustees in 'strike out'
Posted 5 October 2013, 12:01 p.m. Suggest removal
PercentieL says...
When the B. Sands group acquired BSL I believe there was average annual net earnings of $3 million + and approx. $4 mil in cash. The pension plan was liquid with, I am told by an employee accountant, $6 million in cash and $8 million + in other assets. There may have been unallocated reserves included. The B. Sands group was burdened with debt, hubris, and poor management decisions. They raped the plan and suffered significant losses. The Finlayson group simply did know the business. Pension trustees under the Sands and Finlayson groups were grossly negligent in managing the plan. The employees in the plan should have moved to have them replaced immediately through the courts. An independent accounting is necessary to show just how the proceeds of asset sales and disbursements were handled. The remaining asset, the East-West Highway property, must be preserved and secured. I agree - trustees must be brought before the court and held accountable. L. Percentie.
On City Markets' pension trustees in 'strike out'
Posted 5 October 2013, 11:40 a.m. Suggest removal