Well said eveyone especially the suggestion that the Bahamas care about and only align itself with the USA and UK. Tell Eurpoe and the OECD to eff off. Who the heck do they think they are? Quite annoying. The OECD may ban European products and citizens from coming here but those products and folks will ALWAYS find a way. Good riddens. Just do NOT understand why the Bahamas Government(s) is / are so quick and happy to comply with the unreasonable requests of these European jokers.
Simple math suggests this. Assumption: Loan is $650 million bearing terms of 5% p.a financed over 30 years. This translates to monthly payments of $3,489,340.55 or annual payments totaling $41,872,086.60 needed for debt service (principal and interest).
Using the Minister's calculation of $30 per month, the math seems to confirm, after rounding up and using $3.6 million monthly (instead of the $3.489 million above) to cover debt service is $30 per month arrived at by taking $3.6 million monthly divided by $120,000 accounts monthly.
There are an estimated 120,000 households / accounts in the Bahamas (assuming 50% of whom pay or pay when they want to, or get discounts for not paying when ever they decide to pay). So lets say, for a lower range, 60,000 account holders pay regularly.
The Minister says that the maximum charge will be $30 per month for 10 months.The charge may be correct but certainly NOT the period unless of course there is a plan to sell BPL and thus remove this debt from the public purse or BPL's new plant(s) and technology will increase efficiency that much such that BPL's operating costs will be significantly lowered (fire half the staff) etc.
$30 per month for 10 months for 60,000 accounts is $1.8 million monthly or $18 million (it would be $21.6 million if annually for 12 months).
To get a range of the full charge, if all 120,000 (assuming information from observer is correct) account holders pay, this translates to $3.6 million monthly or $36 million for 10 months (or $43.2 million annually for 12 months). The latter just barely covers annual debt service assumed and calculated to be $41.9 million.
When the 10 months stops in 2020, then what?Tthe minister is not saying no doubt because of the structure of the loan or there are other plans in the pipeline but rest assured there is more to come because BPL is broke. Employee bonuses, full pension and health care paid for by BPL for staff, must stop. The public cannot be expected to pay these benefits for a broke and inefficient company.
Based on the above and what is now known before the unknown is disclosed later, it appears that the monthly charge that will be billed to each of 60,000 to 120,000 customers will be in a range of $15 and $30 monthly, but unless as earlier stated, there are other plans for BEC such as taking private and removing debt from the public purse, these charges will be for a period of 360 and NOT 10 months.
Finally, with all that has taken place and still taking place, not a person at BPL has been held accountable, including the politicians.
I predict that when all is in, the monthly charge for 360 months (30 years) will range between $60 and $120 per customer. BPL will continue to be inefficient unless there are major staff changes at the top or it is privatized. Even if the latter, for sure we will all pay much more.
god help us all. we are working to pay government taxes as a result of poor decisions.
I reiterate my previous comments. There is something wrong about folks who predominantly have negative remarks. If MuddaTake Sic is that good let him come from behind the non de plum, identify himself and stop from being the coward that he is. My God. Give the negative comments a break. They often seem personal. Gee whiz! My guess is that he's an absolute loser. By the way my name is Tyrone Dean.
Do you ever have anything nice to say about others? Perhaps you have all of the answers and can do it all. You should be sued for libel and malicious intent, and the Tribune ban you from publishing your negative comments and aspersions about others. Give it a break, for God;s sake. Eric is doing a great job by any standard.
Who does this Bishop think he and the church is? Churches are public institutions. They take public money. Pastors and others in churches do strange things sometimes. Not al are men and women of God. The Government ought to tell the Christian Counsel to shut the ..... up and make all churches accountable. absolutely no exemptions. It's sickening how these preachers think they are above accountability. You take public money you account for it. Plain and simple.
Show your name. Coward. Stop hiding behind a fictitious one. No need for the unproven remarks. Stick with the facts. The Bahamas economy is not in the shape it should be. No one wants to hear excuses but instead the FNM must fix the problems and stop the blame game. Let me guess. You must be a supporter.
I am surprised the Tribune does NOT vet comments such as yours and delete them. They have no place in public discourse.
This woman does NOT speak for the US Government and it appears as if she, and likely her staff whom she relies upon, do not have the facts. In any event, while as a country we want to respect and honor the terms of international treaties on human rights, we simply do NOT have the resources to address the cost of caring for Cubans and others. That's the reality.
What about the Haitians and others detained in the Bahamas? It appears that the US Congresswoman seems partial only to the plight of Cubans. What does she have to say about the US Government routinely sending illegal Cubans back, many of whom may be crazy or criminals. Who wants them? I guess it's acceptable because it's the USA. Not so. What's good for the goose is good for the gander, regardless of size of country. Imagine if we relent and give in to these illegals coming to the Bahamas, the floodgates will be open and I can assure you that no country, not even the big bad USA, would give us a single penny to deal with them. Who pays for uninvited guests?
No Mariel boat lift here.
I surely hope we stand up and hold firm to not only refusing to meet with this big mouth uninformed US Congresswoman after running her big mouth and putting the cart before the horse just like a typical bullying American but that we keep on sending the illegals back regardless of where they come from. If they want change in their countries, it is not OUR headache. Let the people rise up and take their country back, then there will be no need for them to flee Cuba or where ever and it will NOT as it should not ever be, a problem for the Bahamas.
avecbundy says...
Well said eveyone especially the suggestion that the Bahamas care about and only align itself with the USA and UK. Tell Eurpoe and the OECD to eff off. Who the heck do they think they are? Quite annoying. The OECD may ban European products and citizens from coming here but those products and folks will ALWAYS find a way. Good riddens. Just do NOT understand why the Bahamas Government(s) is / are so quick and happy to comply with the unreasonable requests of these European jokers.
On Bahamas to eliminate abuse by tax dodgers
Posted 24 October 2020, 11:27 a.m. Suggest removal
avecbundy says...
Simple math suggests this. Assumption: Loan is $650 million bearing terms of 5% p.a financed over 30 years. This translates to monthly payments of $3,489,340.55 or annual payments totaling $41,872,086.60 needed for debt service (principal and interest).
Using the Minister's calculation of $30 per month, the math seems to confirm, after rounding up and using $3.6 million monthly (instead of the $3.489 million above) to cover debt service is $30 per month arrived at by taking $3.6 million monthly divided by $120,000 accounts monthly.
There are an estimated 120,000 households / accounts in the Bahamas (assuming 50% of whom pay or pay when they want to, or get discounts for not paying when ever they decide to pay). So lets say, for a lower range, 60,000 account holders pay regularly.
The Minister says that the maximum charge will be $30 per month for 10 months.The charge may be correct but certainly NOT the period unless of course there is a plan to sell BPL and thus remove this debt from the public purse or BPL's new plant(s) and technology will increase efficiency that much such that BPL's operating costs will be significantly lowered (fire half the staff) etc.
$30 per month for 10 months for 60,000 accounts is $1.8 million monthly or $18 million (it would be $21.6 million if annually for 12 months).
To get a range of the full charge, if all 120,000 (assuming information from observer is correct) account holders pay, this translates to $3.6 million monthly or $36 million for 10 months (or $43.2 million annually for 12 months). The latter just barely covers annual debt service assumed and calculated to be $41.9 million.
When the 10 months stops in 2020, then what?Tthe minister is not saying no doubt because of the structure of the loan or there are other plans in the pipeline but rest assured there is more to come because BPL is broke. Employee bonuses, full pension and health care paid for by BPL for staff, must stop. The public cannot be expected to pay these benefits for a broke and inefficient company.
Based on the above and what is now known before the unknown is disclosed later, it appears that the monthly charge that will be billed to each of 60,000 to 120,000 customers will be in a range of $15 and $30 monthly, but unless as earlier stated, there are other plans for BEC such as taking private and removing debt from the public purse, these charges will be for a period of 360 and NOT 10 months.
Finally, with all that has taken place and still taking place, not a person at BPL has been held accountable, including the politicians.
I predict that when all is in, the monthly charge for 360 months (30 years) will range between $60 and $120 per customer. BPL will continue to be inefficient unless there are major staff changes at the top or it is privatized. Even if the latter, for sure we will all pay much more.
god help us all. we are working to pay government taxes as a result of poor decisions.
On Maynard: BPL customers will pay more than $30
Posted 4 December 2019, 8:58 a.m. Suggest removal
avecbundy says...
I reiterate my previous comments. There is something wrong about folks who predominantly have negative remarks. If MuddaTake Sic is that good let him come from behind the non de plum, identify himself and stop from being the coward that he is. My God. Give the negative comments a break. They often seem personal. Gee whiz! My guess is that he's an absolute loser. By the way my name is Tyrone Dean.
On Well_mudda_take_sic
Posted 5 June 2019, 6:31 p.m. Suggest removal
avecbundy says...
Do you ever have anything nice to say about others? Perhaps you have all of the answers and can do it all. You should be sued for libel and malicious intent, and the Tribune ban you from publishing your negative comments and aspersions about others. Give it a break, for God;s sake. Eric is doing a great job by any standard.
On Well_mudda_take_sic
Posted 15 January 2019, 3:49 p.m. Suggest removal
avecbundy says...
Who does this Bishop think he and the church is? Churches are public institutions. They take public money. Pastors and others in churches do strange things sometimes. Not al are men and women of God. The Government ought to tell the Christian Counsel to shut
the ..... up and make all churches accountable. absolutely no exemptions. It's sickening how these preachers think they are above accountability. You take public money you account for it. Plain and simple.
On Church: We've made our case over non-profits bill
Posted 25 December 2018, 9:49 a.m. Suggest removal
avecbundy says...
Show your name. Coward. Stop hiding behind a fictitious one. No need for the unproven remarks. Stick with the facts. The Bahamas economy is not in the shape it should be. No one wants to hear excuses but instead the FNM must fix the problems and stop the blame game. Let me guess. You must be a supporter.
I am surprised the Tribune does NOT vet comments such as yours and delete them. They have no place in public discourse.
On Chucky
Posted 29 November 2018, 1:41 p.m. Suggest removal
avecbundy says...
This woman does NOT speak for the US Government and it appears as if she, and likely her staff whom she relies upon, do not have the facts. In any event, while as a country we want to respect and honor the terms of international treaties on human rights, we simply do NOT have the resources to address the cost of caring for Cubans and others. That's the reality.
What about the Haitians and others detained in the Bahamas? It appears that the US Congresswoman seems partial only to the plight of Cubans. What does she have to say about the US Government routinely sending illegal Cubans back, many of whom may be crazy or criminals. Who wants them? I guess it's acceptable because it's the USA. Not so. What's good for the goose is good for the gander, regardless of size of country. Imagine if we relent and give in to these illegals coming to the Bahamas, the floodgates will be open and I can assure you that no country, not even the big bad USA, would give us a single penny to deal with them. Who pays for uninvited guests?
No Mariel boat lift here.
I surely hope we stand up and hold firm to not only refusing to meet with this big mouth uninformed US Congresswoman after running her big mouth and putting the cart before the horse just like a typical bullying American but that we keep on sending the illegals back regardless of where they come from. If they want change in their countries, it is not OUR headache. Let the people rise up and take their country back, then there will be no need for them to flee Cuba or where ever and it will NOT as it should not ever be, a problem for the Bahamas.
Who the heck does she think she is?
On Meeting with congresswoman may be scrapped
Posted 20 August 2013, 1:36 p.m. Suggest removal