Hyatt and BNTCL Conundrum

The Cabinet of Barbados

Peter Wickham described Barbados Underground recently as the Eric Fly of this time. Living up to the characterization- although a more euphemistic description in the view of the BU household is that we are a fiercely patriotic Bajan family -two recent events should give Barbadians reason to pause.

The Hyatt Hotel project to be developed by a local company under the title Vision Development with principal Mark Maloney, AND, the BNTLC sale to SOL have been forced to freeze rollout because the court has issued injunctions. David Comissiong in his capacity as a concerned citizen advocate was successful in the case of the Hyatt Hotel project and RUBIS Barbados the other.

Why are the two events important?

Barbados continues to be affected by a protracted weak economic performance triggered by the global economic crisis of 2008. We are a country dependant on revenues from tourism,  international business and foreign direct investment. Economic analysts agree if Barbados is to support the standard of living we have become accustomed and addicted- one largely built on consumption behaviour -it is important for the three sectors to be performing together. Although the government promotes the ‘success’ of the tourism sector, unfortunately it does not have the earning capacity to satisfy our level of expenditure.   This is important because Barbados is a significant net importer of goods and services and saddled with the current economic model means we must EARN and BORROW foreign exchange to ballance the chequebook.

In the 2017-2018 Estimates Debate foreign inflows announced by the minister of finance Chris Sinckler to be generated from the Hyatt and BNTCL projects were expected to top up government’s dwindling foreign reserves.  Sinckler’s position echoed that of the Prime Minister’s delivered at the BCCI luncheon in January of this year:

These “delayed inflows” that were on the way included funds from China for the start of the construction of the new Sam Lord’s Castle, and the expected sale of the BNTCL to Simpson Oil Ltd. for US$100m. Mr. Stuart said that within a week of the luncheon he expected to be able to give the green light to the proposed Hyatt Hotel project in Bridgetown, and then offered a list of upcoming hotel projects which would bring more foreign investment into the country – Broad Street Journal

Now that David Comissiong and RUBIS Barbados have been granted a temporary injunction by the Courts of Barbados one has to ask how will this affect government’s plan to generate economic activity and to earn foreign exchange.  It is important for Barbados to break free from the anaemic economic performance of the past eight years if only to dissuade the analysts from S&P and Moody’s from assigning a credit rating of D. Contrary to the view of government talking heads, further credit rating downgrades will continue to chase away foreign investors. BU is acutely aware however that we are in the silly season. The timely rollout of the Hyatt project and sale of BNTCL will have a negative impact on government’s economic plan. BU speculates if the decision to seek injunctive relief by RUBIS was triggered by a green light notification from the FTC.

In a situation where two significant projects will suffer delays a normal response from a responsible government would have been to issue a statement informing the citizenry of plan B. Not surprising  however has been the silence from the Stuart administration since the development. After all this is a government that has distinguished itself by giving lie to Abraham Lincoln’s view of how a democratic government should function by being a government of the people, by the people, for the people.

We enjoy the silence.

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167 Comments on “Hyatt and BNTCL Conundrum”

  1. Gabriel April 1, 2017 at 6:16 PM #

    Dribbler
    I am thinking based on your input that Layne acted in his capacity as Supervisor of Insurance.In later life he became a PS and a powerful one too.Was Caswell consulted by Thompson to move a PS whom he viewed as a threat to him as a minister?Was it Layne?

    Like

  2. Well Well & Consequences Observing Blogger April 1, 2017 at 6:49 PM #

    Gabriel….insurance scams and the crooks who manage them evolved since the days of Narsham, Trade Confirmers and Mutual that robbed bajans, the new age crooks like Parris and Harris, with Parris willingly guided by the experienced and depraved Duprey were well aware that to be able to continue their scams against the policyholders without consequences, they would first have to get lawyers like Thompson and Haynes, lawyers who lack ethics and are not above taking personal injury cases against CLICO or CGI…did just that, without disclosing to their clients that they were the attorneys for these insurance companies. …a direct conflict of interest, but beneficial to the insurance company as well as the unethical Haynes and Thompson because they can collect 2 paychecks, while the cases go nowhere….

    More importantly, compromising all these willing, greedy government ministers made sure they were untouchable,….compromising the judiciary in the form of the willing, unethical and very greedy chief justice David Simmons ensured that cases could not be lost…I dont know if Simmons also sat on the board of directors at CLICO, but he sat on the board at CGI…

    ..,,,.,.policyholders and personal injury claimants in those days, did not stand a chance with those vile animals…… had Thompson lived, as prime minister, it would have been worse……but man make’s plans and the divine makes decisions….good riddance to him.

    It took a hell of a long time to expose them all and their insurance scams against the people.

    Like

  3. David April 1, 2017 at 7:03 PM #

    @Dee Word

    Good last point, perhaps, Caswell is best placed to answer. BU’s view is that CLICO became a political beast with teeth sunk into the hides of many.

    Like

  4. Bush Tea April 1, 2017 at 7:16 PM #

    @ Dribbler
    Wait Boss … You talking bout PS Layne????
    If you had known him from school days you would understand COMPLETELY how he would have done the things that he did…. (just as you would understand Hal – had you known him back then… 🙂 )
    Layne was EVER a ‘vagabond’ ….in the sense of being ‘own-way’ and independent.
    It was a fairly common trait of that era – a sign of self-confidence among men who would have been moulded by the visionary and self-confident teachers back then – and in a male environment ….where such masculine assertiveness was cherished – rather than punished, as it is now – in favour of the Peter-Wickham-style effeminate lackies of later times.

    Caswell is another such example, but how many other modern brass bowls can you name with such balls…? Most other appointees are insecure puppets looking for favours.

    @ Gabriel
    Look boss, it is time to learn to ignore Hal’s “answers”. The man was a sap at school, and then he spent 40 years hanging around the Queen’s backyard. How is he qualified to be an expert on brassbados?
    The man does ask some good questions, and is an asset to BU, but his meeting Greenverbs once in London – or writing emails to Dishonest Thompson, DOES NOT qualify him to be any more an ‘expert’ on CLICO than he is on BBE.

    Like

  5. Well Well & Consequences Observing Blogger April 1, 2017 at 7:19 PM #

    I was wondering what type of investment trump could posdibly have in St. Vincent and the Grenadines, turns out it was a failed investment….lol

    “For Trump, St. Vincent And The Grenadines Became The Isle Of Disappointment

    Chloe Sorvino , FORBES STAFF
    I cover the world’s most successful entrepreneurs.

    This story appears in the March 28, 2017 issue of Forbes. Subscribe
    Swiss-Italian banker Antonio Saladino was desperate to make his lush resort on the north shore of Canoun Island a success.

    Canouan Island in St. Vincent and the Grenadines. Photo credit: Forbes

    He had spent years failing at it, so in 2003 he brought in Donald Trump to erect 15 custom-built villas around his hotel and put another 10 along the resort’s golf course. Trump also agreed to operate the golf course and a stand-alone casino. None of it helped much. In 2010 Saladino gave up on his pet project and sold out to Irish billionaire Dermot Desmond, who promptly ended the Trump deal before selling out himself in 2015.”

    Like

  6. Hal Austin April 2, 2017 at 8:08 AM #

    Bush Tea/Gabriel,

    You are not going to bully me. I will challenge you until David block me from the site or until I kick the bucket.
    What I am saying, and I realise that Bajans of a certain generation lack that basic civility, is that if there is evidence against Mr Parris, then charge him. If not treat him as innocent until proven guilty.
    Barbarism may scare some people, but not me. I am up for it. By the way, Mr Parris is no, nor h sever been friend of mine. Nor has Mr Thompson.
    What I do know is that we have had, and continue to have, a grossly incompetent insurance regulatory system. That is where the Clico blame should be directed – and the Mutual, while we are at it.
    Until we face up to it we are letting the real culprits off the hook.

    Like

  7. David April 2, 2017 at 9:19 AM #

    @Hal

    Your comment is theoretically sound BUT sometimes to force justice people must rebel. In this case the government has taken a course of action and to a blind man on a horse trotting backwards it is obvious the government prefers to go a protracted route. You must be aware of the context regarding the affinity between Parris and the DLP? There is a lot there to grease the political mill especially now that we are in silly season.

    Like

  8. Caswell Franklyn April 2, 2017 at 9:31 AM #

    I am getting sick and tired of Hal Austin writing about how things work in England and then trying to suggest that this how it ought to have been done in Barbados. What Hal does not realise is that the our laws and regulations mirror those of England up to a point but depart where the regulator actions have to be approved by the minister.

    Up to quite recently most of the heads of regulatory departments had some level of competence in their areas. They would have done all the technical work necessary and then submit their recommendation to the relevant ministers for approval only to have their recommendations rejected.

    It happened and continues to happen in places like Town and Country Planning Department. Non-technical ministers taking political decisions on purely technical matters.

    Rather than leave regulation in the hands of experts in their respective fields, Government has now created a monstrosity called the Financial Services Commission, staffed it with either yardfowls and fools who now wreak havoc by making up rules as they go along. Don’t blame public officers for these matters, they do their jobs up to the point where they can go legally.

    Oh by the way, William Layne shut down Narsham illegally which we now know as a result of the appeal. Fortunately for the Government, the death of Dr. Sharma, the CEO, has halted further action or the Government would have been facing a bill for $40 million.

    Sent from my iPad

    Like

  9. Bush Tea April 2, 2017 at 9:40 AM #

    @ Hal
    Not trying to bully you…. well not any more than normal… 🙂
    But you seriously do NOT fully grasp the reality on the ground in Barbados. You continue to be influences by what pertains in a rational society…… one where CLEAR AND OBVIOUS crime is prosecuted.
    …One where even Prime Ministers are charged and made to account for doing shiite.

    It probably is not possible for ANYONE not intimately familiar with Bajan brass bowlery to comprehend the kinds of things that ROUTINELY escape justice here. Do you UNDERSTAND the issue with the Speaker of our HoA?

    You should communicate with persons who actually worked with Parris. You should read the report on CLICO… You should ASK more questions…

    As Bushie said quite simply before, even if the police are asleep and toothless, you cannot blame them for the actions of a robber, rapist or murderer. You can only blame them for any incompetence in prevention and, or conviction.

    Parris AND his various Boards of Directors have been the robbers, rapists and possibly even murderers in the CLICO scam, ….and you are right …. the SOI failed miserably in his role…. and then the deputy was dismissed by Froon when she tried to take some feeble actions…

    But WRONG is WRONG….. is Parris.

    Like

  10. David April 2, 2017 at 9:57 AM #

    @Bush Tea

    Check page 14A of today’s Sunday Sun.

    The Acting Assistant Commissioner of Police states emphatically the file for Verona Gibson was sent to the police on March 17, BUT, the DPP as recent as Friday last week is lamenting why it has taken so long for the police to send the file.

    #jesustakethewheelplease!

    Like

  11. Well Well & Consequences Observing Blogger April 2, 2017 at 10:30 AM #

    Hal…….try doing some real research before ya try feeding the blog misinformation and downright lies, reasearch the history of what happened with Clico and the real culprits,, not what you wanted to happen or think should happen, a theft of that magnitude by Parris and Thompson…..can only be dealt with in facts and reality, not disinformation, fantasy and blaming the wrong people..

    Like

  12. CUP Violet Beckles Plantation Deeds from 1926-2017 land tax bills and no Deeds,BLPand DLP Massive land Fruad and PONZ April 2, 2017 at 11:09 AM #

    Hants April 1, 2017 at 1:07 PM #

    The problem with CLICO is the Trickidadian manipulator in chief and the brassbowls doing

    his bidding in Barbados.@@@

    Hants, understand then know, the assets CLICO hold in Barbados is based on stated and not fact, all the land in Barbados Plantations and other was placed there, So they have nothing to sell to recover for the people, You do not have to be harmed by CLICO to feel the pain, Parris can not show how he have$5 million or more in the CB, or another, others who have money there hiding it, His role came out in court , If you take many others to court their numbers will also come out, CB is a PVT account for the crooks of the DLP and BLP,
    Even Leroy Parris and Harris see to me crooks deep down and some hiding blod face, Cover up in Bim and lawyer with Ministers is the Problem ,, All , All must be removed from government, a CoUP is the best way,

    Like

  13. jimenobaeznarvaez July 5, 2017 at 8:49 AM #

    . @@@

    Hants, understand then know, the assets CLICO hold in Barbados is based on stated and not fact, all the land in Barbados Plantations and other was placed there, So they have nothing to sell to recover for the people, You do not have to be harmed by CLICO to feel the pain, Parris can not show how he have$5 million or more in the CB, or another, others who have money there hiding it, His role came out in court , If you take many others to court their numbers will also come out, CB is a PVT account for the crooks of the DLP and BLP,
    Even Leroy Parris and Harris see to me crooks deep down and some hiding blod face, Cover up in Bim and lawyer with Ministers is the Problem ,, All , All must be removed from government, a CoUP is the best way,

    <!

    Like

  14. DevBlog July 5, 2017 at 9:29 AM #

    . @@@

    Hants, understand then know, the assets CLICO hold in Barbados is based on stated and not fact, all the land in Barbados Plantations and other was placed there, So they have nothing to sell to recover for the people, You do not have to be harmed by CLICO to feel the pain, Parris can not show how he have$5 million or more in the CB, or another, others who have money there hiding it, His role came out in court , If you take many others to court their numbers will also come out, CB is a PVT account for the crooks of the DLP and BLP,
    Even Leroy Parris and Harris see to me crooks deep down and some hiding blod face, Cover up in Bim and lawyer with Ministers is the Problem ,, All , All must be removed from government, a CoUP is the best way,

    <!

    Like

  15. Fair and Balanced July 5, 2017 at 10:03 AM #

    There are no reasons why the Hyatt shouldn’t be built it has passed the legal and regulations tests only that pinko stalls the progress with a frivolous suit in the courts. Why the courts haven’t met and thrown out the foreigner’s crap is baffling and shakes the faith of ordinary people in the judicial system. Split the shares of BNTCL half to Sol half to Rubis . The business climate and the economy are the winners.

    Like

  16. maxlcrepeau July 13, 2017 at 9:37 AM #

    . @@@

    Hants, understand then know, the assets CLICO hold in Barbados is based on stated and not fact, all the land in Barbados Plantations and other was placed there, So they have nothing to sell to recover for the people, You do not have to be harmed by CLICO to feel the pain, Parris can not show how he have$5 million or more in the CB, or another, others who have money there hiding it, His role came out in court , If you take many others to court their numbers will also come out, CB is a PVT account for the crooks of the DLP and BLP,
    Even Leroy Parris and Harris see to me crooks deep down and some hiding blod face, Cover up in Bim and lawyer with Ministers is the Problem ,, All , All must be removed from government, a CoUP is the best way,

    Like

  17. charlesdoliver July 14, 2017 at 10:49 AM #

    . @@@

    Hants, understand then know, the assets CLICO hold in Barbados is based on stated and not fact, all the land in Barbados Plantations and other was placed there, So they have nothing to sell to recover for the people, You do not have to be harmed by CLICO to feel the pain, Parris can not show how he have$5 million or more in the CB, or another, others who have money there hiding it, His role came out in court , If you take many others to court their numbers will also come out, CB is a PVT account for the crooks of the DLP and BLP,
    Even Leroy Parris and Harris see to me crooks deep down and some hiding blod face, Cover up in Bim and lawyer with Ministers is the Problem ,, All , All must be removed from government, a CoUP is the best way,

    <!

    Like

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