dey issue $54 million of preference shares last year. dey mussy issue dem to pay da interest to da ppl who lend dem $400 million.

http://tribune242.com/users/photos/2019…

Lol, Birdie, I feel better now that Banister has confirmed that BEC isn't operating as worsest as it was under the evil PLP.

I know of an AirB&B that is operating just like a small hotel that is full of guest in Nassau for the 4th July holiday with no electricity. Their back up generator does not work and hasn’t worked for years and the foreign owners operating the AirB&B without a hotal license don’t give a damn. The innocent tourist come, get upset, and leave, and a new set comes to take their place. It is ruinous to our tourist brand.

The government doesn’t give a damn because they are getting VAT from AirB&B and don’t care that unlicensed foreigner “hotels” / AirB&B’s are competing against licensed, regulated and properly managed Bahamian small businesses.

BEC and the Government are systemically closing small businesses. Only foreigners will be left.

bahamianson. these guys have no interest in properly planning. the profits are so large, the monopoly grip so tight and the politics so entrenched that there is not time to properly plan.

The public will continue to suffer for generations to come as it has with generations past from the mismanagement of our energy resources. Our energy costs is 20 times the cost of production in Florida (inclusive of back up generators and lost productivity).

Incalculable financial harm is being done to the general public.

You see the entire energy infrastructure complex (both vertically [importation, taxation, shipment, electrical generation] and horizontally [gas stations, electrical grid, all power generators]) is concentrated and tightly controlled by the Government, a select few business interests and Shell (a multi national energy conglomerate). Who are profiting immensely from the status quo for generations. No one can touch the system.

These interest have suppressed the introduction of renewables, smart grids and an energy policy that makes sense. Instead of carbon based fuels declining, our consumption is increasing with the "new" generators using "last centuries" technology.

There is no hope.

ConchFretta, maybe it’s because government is treating National Insurance as a business and not a social program. Notice they call Contributions, Revenue and Benefits are called Expenditures, and there is Profit, not a surplus.

True financial illiteracy.

There is no breakout of administrative expenses which are a whopping 20% of each Revenue...opps, I mean Contribution.

No wonder the program is broke.

We must remain fully focused on collecting VAT.

Anything that may provide some joy to the people or provide healthy activities for our youth must be canceled.

Besides you can go to the web shops for entertainment.

Yes, just google "exuma boat" and hundreds of hits.

Government too busy increasing VAT over the weekend and taxing the poor and collecting business license fees from boat operators...don't seem like they have anytime left to actually regulate anyone ... how often do developed countries have to complain about the jet skis? until they just stop flights to Nassau? If ya do learn you ga soon feel.

Yeah, dey busy busy collecting over $2.5 billion in taxes off a population of 350,000 ( or $70,000 per person) ... dat alone is hard work. Its even harder to spend all of this money and go into massive deficits of $8.5 billion and talking nonsense everyday about Crytop currencies in Grand Bahama.

They ga need crypto currencies and block chain to waste all this money when Bahamians are dragged to the poor house and then blame it on the PLP.

We get swing bad bad by this set.

RawBahamian. I know you are being cynical but you have a point. Successive Prime Ministers are to blame since Pindling's time in the creation of a culture of slackness and the lack of emergency policies and procedures. It looks like share chaos with the patrons giving the best advice which is obviously not headed by the workers. The video speaks volumes.

Like every other tragic accident, corruption or criminal activity the government will say they will investigate and when the investigation is completed they will report back to the Bahamian people.

The problem here is that they never complete most investigation and in most cases they never report back to the Bahamian people. Why? Under staffed? Lack of work ethic? Long lunch hours? Too many investigations? Lack of qualified staff? Culture of jobs for life and annual raises regardless of performance? Or all of the above.

The government will never tell you the real reason why a full report will probably never be issues. This tragic accident will be overtaken by some other absolutely incredible story in tomorrows Tribune.

What will the newspapers print tomorrow so we as the general public never get an official response and forget about the accident?

Let me guess:

1. Merchants prices go up 50% due to 12% VAT increase.

2. Webshops to stop paying taxes

3. A bunch of crime over the weekend

4. Shanty town tractor mows down houses and Fred Smith sues

5. 500 migrants escape as the boat sales slowly up the Bahama chain and lands quietly at the south western end of the island. No one saw anything for days as the large sale boat sailed through the Bahama islands.

6. More promises of crypto currencies for Grand Bahama.

Yes. Lets see what incredible stories arrive tomorrow.

Can’t seem to find any background info on this company, it’s directors or officers.

It’s as if they appeared out of the blue with no past.

They have wiped and scrubbed their internet presence clean. Obviously learning from the tragic Oban fiasco.

It is beyond belief that these guys have been awarded contracts for a digital ID for all Bahamians, a Cryptocurrency for Bahamians, blockchain for all government transactions...at best its pie in the sky BS and worst the naive minis admin is being conned.