The above is Spam's response to Canadian (foreign) construction workers being sent home.
What the banker said, was that the problem with that is that the Canadians are the foremen. When the Canadians get sent home, they put a Bahamian in charge of the other Bahamians, and the workers do not listen to the Bahamian foreman like they listen to a foreign white guy. Slackness sets in.

take it this banker is also a Canuck? :D

You know, I was heartened by the increase in tourism numbers, however my optimism has been dimmed a bit. I was talking to a banking official, and I was shocked to learn the following:
5) The banker said that it is good to have business interests in the Bahamas but sever them from the local economy.
This convo was very very sobering.
I don't get #5 Lurker. 'Cept for offshore, how could you have business interests in the Bahamas that are not linked to the local economy? Also, is Atlantis debt-free? I understand that Sol borrowed Bahamian funds to get Atlantis going, however, is Altantis in a position to be sold?

I don't get #5 Lurker. 'Cept for offshore, how could you have business interests in the Bahamas that are not linked to the local economy? Also, is Atlantis debt-free? I understand that Sol borrowed Bahamian funds to get Atlantis going, however, is Altantis in a position to be sold?


Didn't Mr Kerzner by back all the shares (he issued in the company to build Atlantis) a few years ago? He owns it, lock, stokc and cinder block.

His Dubai hotel look much like Atlantis. So much for us having an original product...Can't balme him though.
http://www.atlantisthepalm.com/discoveratlantis.aspx


*Sunnys whispering DIVERSIFY da economy- Take all we eggs out dat one basket*

Didn't Mr Kerzner by back all the shares (he issued in the company to build Atlantis) a few years ago? He owns it, lock, stokc and cinder block.

Totally forgot about that. Thanks SJ!

I don't get #5 Lurker. 'Cept for offshore, how could you have business interests in the Bahamas that are not linked to the local economy? Also, is Atlantis debt-free? I understand that Sol borrowed Bahamian funds to get Atlantis going, however, is Altantis in a position to be sold?


the arabs backed him .. supposedly.

We live beyond our means.


Yep, one fella I know who sells phone cards does be grinning all the way to da bank!! Ya think peeps know they paying more to talk than to buy food?

Yep, one fella I know who sells phone cards does be grinning all the way to da bank!! Ya think peeps know they paying more to talk than to buy food?
interesting concept

if a strong exonomy gets a little weak that doesnt mean the citizens will automatically fall to their knees.

everybody has a different economical situation.

also you may see people spending but go down to the courts to hear asue fall out cases or cases based on not paying your friend back. or check the banks and see the average in savings accounts or look to see who is on the reposession lists.

things may be slightly bad but not to the point where 90% of the population has to park their cars and walk or where they cant afford to buy their mom something nice for mothers day.

The other thing that I forgot to say is that the banker told me that the Bahamas will always be good for foreigners doing business here, but not for Bahamians.
That is all he said? Did he say why?

You know, I was heartened by the increase in tourism numbers, however my optimism has been dimmed a bit. I was talking to a banking official, and I was shocked to learn the following:
1) Sol Kerzner has asked Disney to buy Atlantis because his profitability is declining. He is pinning his hopes on the new glamour place -- Dubai.
2) Hurricane Hole has been put on hold except for a small part. Good news for News Cafe and the pizza place, but real bad news for the economy.
3) Canadian construction workers being sent home from Lyford Cay and Old Fort Bay
4) Hubert Ingraham really doesn't have a plan. It is steady as she goes, and we is going down.
5) The banker said that it is good to have business interests in the Bahamas but sever them from the local economy.
6) He also said that Bahamians are in denial about how bad things are. There is always a lag effect, and the lag effect will hit in the November/December time frame.
This convo was very very sobering.

Your banker does not know what he is talking about. Disney is NOT buying Atlantis, were not involved in the discussions. Disney is anti-gambling. There is a group interested in Atlantis (not approached by Sol but did the approaching), and it is not Disney.

The other thing that I forgot to say is that the banker told me that the Bahamas will always be good for foreigners doing business here, but not for Bahamians.
This is only because foreigners know how to make a deal, Bahamian's generally dont

This is only because foreigners know how to make a deal, Bahamian's generally dont

Also, because the government bends over backwards to assist upstart foreigners via concessions, etc. and won't give the local man an equal break.

Also, because the government bends over backwards to assist upstart foreigners via concessions, etc. and won't give the local man an equal break.
Sorry, I dont think that is the case. The conessions given are for major foreign investment projects, not upstart foreigners. Didnt the government just offer grants to young Bahamian entrepreneurs. The local man is protected in many an industry that the foreign person cannot even participate.

smt yall ain kno wat yall talkin bout. tings so tough bahamains buying brand new fridge and stove during christmas and dont even use it cause they ain hav no food to cook. das y dey have to go to buy fast food everyday and buy a new fridge and stove next christmas. tings so tough we have to put dat ole break up car wat costing us everytime for repairs and buy us that brand new big body truck and jeep. things so tough we cant afford condoms thats why we have to take care of so much children. things so tough we cant help our parents with the bills so we have to move out and pay rent. smt man aye things jus so tough

smt yall ain kno wat yall talkin bout. tings so tough bahamains buying brand new fridge and stove during christmas and dont even use it cause they ain hav no food to cook. das y dey have to go to buy fast food everyday and buy a new fridge and stove next christmas. tings so tough we have to put dat ole break up car wat costing us everytime for repairs and buy us that brand new big body truck and jeep. things so tough we cant afford condoms thats why we have to take care of so much children. things so tough we cant help our parents with the bills so we have to move out and pay rent. smt man aye things jus so tough

fast food is cost like $8-10 a meal now .. they arent saving much if any.