Comment history

banker says...

Hate to point it out Chucky, but the situation is a lot more complex than your explanation or presumed understanding. This is Economics 101.

Businesses do create jobs. Jobs are necessary to provide the infrastructure to make, sell and deliver goods and services. Some businesses use cheap human capital components (create jobs) instead of using technology to reduce the amount of people it needs. Do you ever notice how many employees a Bahamian gas station has compared to a Florida gas station? Bahamians use cheap human labour as anti-theft protection. When I travel to the bank's head office abroad, on the way from the airport late at night, I patronize a gas station without any humans at all. You insert a debit or credit card into the gas pump, and you can even buy a carwash (the receipt has a scannable chit). So the labour costs are not even across businesses, and those businesses that can do with less jobs are more profitable. And those businesses that have cheaper labour costs are more profitable even at lower prices. Why do you think that supermarkets in the US now have self-serve checkout?

Lower prices increase consumer demand and higher prices inhibit it. It is not a constant like your premise. The consumer need and demand is elastic based on price sensitivity and supply and demand. The human capital input to a product or service is also elastic. I can compete if I have less or cheaper human beings contributing to the cost.

So this idea of not having a cap on redundancy penalizes the companies that do create jobs, and rewards those who create less jobs. And the whole idea of business, is to make a profit -- not create jobs for people. If the profit isn't there, the business isn't there and there are no jobs.

On ‘A stake through the heart’ of commerce

Posted 28 November 2015, 6:02 p.m. Suggest removal

banker says...

This is beautiful and noble, and is a glimmer of hope. Reading this made me happy.

On Rising up, onward bound

Posted 27 November 2015, 9:36 a.m. Suggest removal

banker says...

"Apostle" C Allen Johnson is a convicted felon in the US having served many years in a federal penitentiary for multiple felonies, and then was deported from the US, never to be allowed in the US again. And Moss picks this guy to be his chairman?????? At least there is a level of honesty in the fact that from the outset they are advertising their crooked intent, unlike the PLP.

On Vile video must not be defended

Posted 27 November 2015, 9:35 a.m. Suggest removal

banker says...

Their late owner (who died fittingly from a fall) got his start in cable (he was a former telecom exec) by stealing satellite cable signals and selling it to remote outports in a very isolated Canadian province. Then came a whole pile of shell transactions, delisting from the Toronto stock exchange to avoid scrutiny, an corporation called Columbus with a poorly hidden trail of beneficial owners, and a whole bunch of corporate moves that were designed to cash out for the beneficial owners and make Bahamians pay for it. In any other jurisdictions, their shenanigans would come under the scrutiny of the regulatory agencies and there would be prison penalties. Instead our paper tiger regulators either got bamboozled or were in on it.

banker says...

Christie is embarrassing to the Bahamas. We have an idiot at the mic.

http://tribune242.com/users/photos/2015…

banker says...

The internet has given platform to people who ordinarily would not have the means to promulgate their views. Sociological research has proven that people want news to reflect their biases and they can get it using the internet. Objectivity is gone out the window. Republikkkans get their news from Faux News. Democrats watch MSNBC. You can get any point of view you want including whackjob conspiracy theories.

banker says...

As a Donald Trump supporter, and your supercilious attitude here, you are no more a journalist than the people at BahamasPress. You are in the same league. If you were a real journalist, you would be addressing these issues in your regular column in whatever #1 website, journal, whatever and not in the comments section of a Bahamian newspaper.

banker says...

But you don't start a political party with the chairman as a known criminal -- in spite of the PLP setting the precedent for that.

On Moss wants party to contest every seat in 2017

Posted 26 November 2015, 9:53 a.m. Suggest removal

banker says...

We are all flawed, but some have flaws that disable them from perceiving reality accurately. The worst flaw of all is disseminating falsehoods on purpose -- that is a definition of pure evil.

On Moss wants party to contest every seat in 2017

Posted 26 November 2015, 9:51 a.m. Suggest removal

banker says...

Sigh ... where to begin. First of all Innovation & Productivity is a non-starter. Innovation requires capital -- both economic and human capital. With our dismal education system, the human capital is nigh worthless. Functionally and mathematically illiterates are not exactly the backbone to build productivity or nationhood. Innovation is fed by access to venture capital -- being able to risk it all for the big rewards. Yet in the Bahamian system, there are no big rewards with a non-convertible currency, no access to capital markets, no chance of an IPO and huge problems with the ease of doing business. All of this kills innovation.

And as for a Services Coalition, that is a non-starter as well. No one with any modicum of knowledge trusts ANY Bahamian law firm to act with probity and diligence. My clients all prefer Cayman lawyers because of more progressive laws, a larger appetite to punish corruption and white collar crime and a more efficient, informed and enlightened judiciary.

Accountants fall in the same boat. The BICA rules are insular, regressive and the fees are high. The value-for-money is low, and the knowledge base is lacking when it comes to international complexity. Everyone knows that Phillip Galanis and other luminaries in the accounting field have a chequered past with shady characteristics.

Financial services are a bust. One need look only at Owen Bethel, Julien Brown, Warren Davis, and a whole host of others.

The first principles of the entire services industry needs amelioration before we can be competitive at anything outside our borders. Good Luck.

On Gov’t, private sector eye Innovation Council

Posted 25 November 2015, 3:59 p.m. Suggest removal