I heard the spokesperson say that for the purchase of 5000 dollars in fuel they make 800 dollars, on the surface that's a 16% profit margin, but with little details on what the 800 represents you cant extract too much. what we do know is globally profit margins for gas stations are very low. Much lower than 16%.
I believe the problem they're having is they have too many stations. This is common in our economy, once one person is seen making a go of a business a number of other people jump on the same idea expecting to make the same profit, but you cant. You've reduced the customer base for each concern.
It's very convenient to have a gas station on every corner but I believe what the gas stations are experiencing is a culling by market forces. What they really need is more customers. That's how low margin businesses survive, on volume. For us the only way to increase volume is to reduce stations. Market forces may force them to go that route. Again this won't be pleasant. The alternative is artificially high prices to support profit margins not seen anywhere else in the world
"*According to IBISWorld, gas stations make an average net margin of just 1.4% on their fuel.That’s far lower than the 7.7% average across all industries — and ranks beneath other notoriously low margin businesses like grocery stores (2.5%) and car dealerships (3.2%).* -- article from thehustle.co
Good. I hope you catch all these people using the turning lane to jump ahead of traffic, who turn left on red right into the path of right of way traffic, who make 3 point turns in the road, who make a 3rd lane on prince charles, who casually stroll through the red light from Fox Hill straight up to robinson road, who plop their cars across the street to turn into traffic impeding the flow, the people who park half on the sidewalk half in the street by the bbq joint next to shell prince charles, the pedestrians constantly jaywalking ...
He sounded like a caveman. "*some people is lie*". Do you know how long rape victims have been fighting to have people listen to their claims because "*is her wotd against his*"? This is a man who is supposed to function as a councillor. What does he tell real live rape victims? Get over it because noone guh believe you? Rape rarely happens in front of the media or with witnesses around
"*Department of Statistics data, which took 2012 as its baseline, revealed that it took six years for the Bahamian economy's real GDP output to move beyond the level recorded for that year*
*GDP, which measures the total value of goods and services that an economy produced, stood at $10.721bn for 2012. However, this output slumped by more than $300m the following year to $10.404bn as a result of a 3 percent contraction*
*The Bahamas spent the next five years regaining this lost output, with real GDP growth rates ranging from a high of 0.7 percent in 2014 to a low of 0.1 percent in 2017. The “major” growth surge came in 2018 as a result of the 1.6 percent expansion, which finally moved real GDP above 2012 levels to $10.763bn.*
We were doing pretty bad in 2019 and even worse before that. When the leaders rejoice about "*nearing 2019 levels*"... I dont know what reality theyre trying to create. The sober message should be the urgent need to move well past 2019.
and.... heavily unequal societies end up self destructing. The gates, walls and palaces never providedsufficient protection.. repeated over and over in recent and past history
You hit the nail on the head. We like shiny tings and announcements about them but we never really check to see if they really work for us. Some system growing pains are acceptable others are not
I like his contributions and I think they're worthwhile. I dont have to agree with him all the time. I dont get the impression he's sympathetic to the large number of Bahamians who need assistance, that gives me hesitation for him being in charge, but I believe his positions are always well thought out. But again I dont have to agree.
ThisIsOurs says...
Presupposes that income tax wont be abused by govt for lack of ingenuity and innovation like every other tax
On Gas stations argue Business Licence 'further strangles' us
Posted 25 May 2023, 12:33 a.m. Suggest removal
ThisIsOurs says...
I heard the spokesperson say that for the purchase of 5000 dollars in fuel they make 800 dollars, on the surface that's a 16% profit margin, but with little details on what the 800 represents you cant extract too much. what we do know is globally profit margins for gas stations are very low. Much lower than 16%.
I believe the problem they're having is they have too many stations. This is common in our economy, once one person is seen making a go of a business a number of other people jump on the same idea expecting to make the same profit, but you cant. You've reduced the customer base for each concern.
It's very convenient to have a gas station on every corner but I believe what the gas stations are experiencing is a culling by market forces. What they really need is more customers. That's how low margin businesses survive, on volume. For us the only way to increase volume is to reduce stations. Market forces may force them to go that route. Again this won't be pleasant. The alternative is artificially high prices to support profit margins not seen anywhere else in the world
"*According to IBISWorld, gas stations make an average net margin of just 1.4% on their fuel.That’s far lower than the 7.7% average across all industries — and ranks beneath other notoriously low margin businesses like grocery stores (2.5%) and car dealerships (3.2%).* -- article from thehustle.co
On 'Screeching economic halt' if diesel stop lasts 10-14 days
Posted 25 May 2023, 12:25 a.m. Suggest removal
ThisIsOurs says...
Good. I hope you catch all these people using the turning lane to jump ahead of traffic, who turn left on red right into the path of right of way traffic, who make 3 point turns in the road, who make a 3rd lane on prince charles, who casually stroll through the red light from Fox Hill straight up to robinson road, who plop their cars across the street to turn into traffic impeding the flow, the people who park half on the sidewalk half in the street by the bbq joint next to shell prince charles, the pedestrians constantly jaywalking ...
On Sears says newly launched Traffic Management Centre first phase to cost $1.8m
Posted 24 May 2023, 5:41 p.m. Suggest removal
ThisIsOurs says...
He sounded like a caveman. "*some people is lie*". Do you know how long rape victims have been fighting to have people listen to their claims because "*is her wotd against his*"? This is a man who is supposed to function as a councillor. What does he tell real live rape victims? Get over it because noone guh believe you? Rape rarely happens in front of the media or with witnesses around
On Activists find Rex Major’s comments ‘appalling’
Posted 24 May 2023, 10:59 a.m. Suggest removal
ThisIsOurs says...
From a May 2019 Tribune article.
"*Department of Statistics data, which took 2012 as its baseline, revealed that it took six years for the Bahamian economy's real GDP output to move beyond the level recorded for that year*
*GDP, which measures the total value of goods and services that an economy produced, stood at $10.721bn for 2012. However, this output slumped by more than $300m the following year to $10.404bn as a result of a 3 percent contraction*
*The Bahamas spent the next five years regaining this lost output, with real GDP growth rates ranging from a high of 0.7 percent in 2014 to a low of 0.1 percent in 2017. The “major” growth surge came in 2018 as a result of the 1.6 percent expansion, which finally moved real GDP above 2012 levels to $10.763bn.*
We were doing pretty bad in 2019 and even worse before that. When the leaders rejoice about "*nearing 2019 levels*"... I dont know what reality theyre trying to create. The sober message should be the urgent need to move well past 2019.
On Corporate tax 'driven' by revenue demands
Posted 23 May 2023, 7:54 p.m. Suggest removal
ThisIsOurs says...
and.... heavily unequal societies end up self destructing. The gates, walls and palaces never providedsufficient protection.. repeated over and over in recent and past history
On Corporate tax 'driven' by revenue demands
Posted 23 May 2023, 7:42 p.m. Suggest removal
ThisIsOurs says...
You hit the nail on the head. We like shiny tings and announcements about them but we never really check to see if they really work for us. Some system growing pains are acceptable others are not
On MARCO alert creates buzz and criticism of system
Posted 23 May 2023, 6:05 p.m. Suggest removal
ThisIsOurs says...
I like his contributions and I think they're worthwhile. I dont have to agree with him all the time. I dont get the impression he's sympathetic to the large number of Bahamians who need assistance, that gives me hesitation for him being in charge, but I believe his positions are always well thought out. But again I dont have to agree.
On Corporate tax plan 'dead on arrival' unless wider reform
Posted 23 May 2023, 8:42 a.m. Suggest removal
ThisIsOurs says...
Thats exactly what it sounds like
On PASTOR ON RAPE - PEOPLE DOES LIE: Rex Major says that some women would use claims to end marriage
Posted 23 May 2023, 4:50 a.m. Suggest removal
ThisIsOurs says...
He een using no bible text I know about. His basis is bare stupidity and seems like fear
On PASTOR ON RAPE - PEOPLE DOES LIE: Rex Major says that some women would use claims to end marriage
Posted 23 May 2023, 4:40 a.m. Suggest removal