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Auditor General, Leigh Trotman

2014 Barbados Auditor General Report

The latest Auditor General report repeats findings by that office contained in earlier reports. Is is apparent the important  office of the Auditor General’s office is being deliberately sabotaged by government. How else can we explain justification for the largest Cabinet in post-Independence history presiding over a shrinking eco0nomy yet the office of the government auditor continues to be hampered performing its role. Bear in mind while the government ignores this important office the private sector has beefed up its compliance procedures in a world where there is now  heavy focus on corporate governance.

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Prime Minister Stuart - when words mean nothing

Prime Minister Fruendel Stuart Promises to Expose the Names of CLICO EFPA Policyholders

Prime Minister Freundel Stuart has done the unthinkable by breaking his silence on the CLICO mess. To quote him: “. . . Wait. There is going to be a lot to be said on this. Do not mistake my silence for an incapacity to speak. The time will come when all things will be made clear and explained. I ain’t saying anything yet” He added: “I have a list . . . of all of the persons who invested in the Executive Flexible Premium Annuity [EFPA], but I ain’t saying nothing yet. I know all the people who earning quick money, who were entranced by the lure of attractive interest rates. I know them, I have all of the names”.

Given the pace – or lack of it – at which Stuart moves Barbadians should not expect to hear from him anytime soon. Instead CLICO policyholders would prefer to hear the government enunciate a plan to resolve the plight of the policyholders.

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Leslie Haynes

A Culture Of Diminishing Corporate Governance

Originally posted on Barbados Underground:
The CLICO Mess has brought into focus a bigger issue, the lack of a reliable governance framework. BU maintains we have witnessed a catastrophic regulatory failure which continues to challenge all jurisdictions CLICO operated. This view is contrary to William Layne’s who continues to dumb down the role of the…

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Terrence Thornhill, Chairman of Enterprise Growth Fund Ltd

Terrence Thornhill the #2 CLICO Man in Barbados Continues to Get a Free Pass

The number two man for many years in the entity that was CLICO Barbados Holdings Ltd (CBH) is Terrence A. Thornhill. He sat and walked next to the embattled former CBH Chairman Leroy Parris. The recent Deloitte’s Forensic Report confirmed what many know and that is Thornhill is the man who has witnessed the unsavoury, […]

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Mara Thompson MP should defend her husband's legacy by championing transparency legislation

Barbados Underground Calls for the Immediate Resignation of Speaker of the House Michael Carrington and Deputy Speaker Mara Thompson

The Barbados Underground household listened today with deep sadness to the news Deputy Speaker Mara Thompson denied the request from the Opposition to debate a No Confidence Motion against Speaker Michael Carrington. Barbados finds itself in a position where the Speaker of the House was recently directed by by a Barbados Court to pay a […]

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CLICO Barbados

CLICO Final Forensic Report UNSEALED

Here is the CLICO Final Forensic Report unsealed by Justice William Chandler on 10 March 2015.

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Ian Carrington, Director NIS

Incompetence at the National Insurance Scheme Costing Taxpayers MILLIONS and Counting

Without knowing the intimate details of the NIS’s problem, I will speak from a position of authority from my involvement in ICT strategy and implementation and from at least 25 years of experience. Barbados is woefully lacking in the ICT arena. This position of inefficiency comes from a lack of vision on the part of ICT decision makers of which they are really none within the government. Let’s look at the supposed CIO of government, although that is not his official title. This person, who has been named Chief E-Government Officer can move about from ministry to ministry touting glorious projects which he proposes to perform but has yet to show one iota of value.

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Sir David Seale

Sir David Seale Responds to Sandals Barbados: I am NO Idiot!

Sir David Seale recently accused Sandals Barbados of preferring Jamaican Appleton Rum at the expense of the local product. The hotel management responded by labelling Sir David’s accusation ridiculous and mischievous. BU understands Sandals Barbados stocks a Mount Gay product for display purposes and that ALL rum used for mixing is Appelton rum.

See a copy of a letter Sir David has addressed to the Nation newspaper to defend his good name.

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Canadian Banks Struggling in the Caribbean

One of Canada’s largest newspapers The Globe and Mail published an unflattering story last week titled Trouble in Paradise: Inside Canadian banks’ billion-dollar Caribbean struggle. It comes at a time the government of Barbados has been telling Barbadians the economy is on the bounce. It is no secret the three sectors which drive the economy […]

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Vote Danny Gill for President

Danny Gill_NUPW

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Wiliam Layne

Open Letter to Former Permanent Secretary William Layne: ‘CLICO Was a Time Bomb Waiting to Explode and Explode it Did’

The CL Financial/CLICO saga continues to occupy the news space in Barbados and regionally. Many have predicted it will take years to unravel if not resolve. And given the sloth of the Barbados Court system and the interlocking interests of politicians and prominent others there is good reason for those with material interest in the matter to batten down for the long haul.

One individual who has had a prominent role to play and a lot to say about the CLICO/Parris matter is William Layne. He is a retired permanent secretary in the ministry of finance appointed to Chair the CLICO Oversight Committee established by the late prime minister David Thompson. Another little discussed role Layne held was Supervisor of Insurance. Layne in a hard hitting CLICO exposition titled RECENT FINANCIAL FAILURES IN THE CARIBBEAN – WHAT WERE THE CAUSES AND WHAT LESSONS CAN BE LEARNT? delivered a few interesting observations on what lessons we can learn about the demise of CLICO in Barbados.

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Caswell Franklyn, Head of Unity Workers Union

Barbados Workers Union Hauled Before the Employment Rights Tribunal for Unfair Dismissal

It is unusual to observe an employee forced to seek remedy against a trade union. Unfortunately for the employee (Christopher Jordan) the Chief Labour Officer was unable to resolve the matter, and as the law requires, he referred the matter to the Employment Rights Tribunal (ERT).

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Speaker Michael Carrington

Barbados Bar Association and Michael Carrington

Several weeks ago Barbadians were promised the Committee of Privileges will determine if Speaker Michael Carrington broke House rules, we continue to wait. To any observer it appears to be business as usual and this matter like many others will shuffle along until the next general election is called where is will die. We hope not. Parliament will resume sitting on the 10 March 2015. The people, the servants of the political class in parliament will have to wait like dogs waiting for a bone.

Let us assume the report, if it completed, will confirm Prime Minister’s Stuart’s view that the Michael Carrington issue is a personal matter, and has nothing to do with parliament. It will confirm to many that public opinion is not a factor with this government. (The idea a political leader of Barbados would make such an idiotic statement continues to be incomprehensible to many and deserves greater national discourse)

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John Griffiths

Barbados Brand Tarred by Speaker Michael Carrington and Deputy Speaker Mara Thompson, REPURCUSSIONS

Barbadians continues to be part of the charade which sees Minister Michael Carrington being allowed to preside over the highest court in the land AND third oldest parliament in the Commonwealth. A reminder: Speaker Carrington was ordered by the High Court of Barbados to pay over $200,000.00 to a wheel chair bound septuagenarian; monies he had withheld for years. The government via its agent, deputy Speaker Mara Thompson, deflected the matter to the Committee of Privileges. We have been promised a report soon. Parliamentary committees in Barbados can accurately be described as supine and considered by many to be a big reason the Westminster version of government practiced is ineffective.

To add to the national embarrassment. Deputy Speaker Mara Thompson was named recently in a Court filing by applicant Leroy Parris in her capacity as executrix of the late David Thompson’s estate.  A case of a good thing gone bad. To lean on former Prime Minister Owen Arthur’s position AND current Prime Minister Fruendel Stuart, no House rules were broken. In other words it is business as usual. Are we surprised at the moral and social decay that has taken root? How can we expressed horror in response to a murder accuse giving the thumbs up yet ignore the poorakey behaviour of members of parliament?

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