Daily Archives: August 5, 2007

Barbados Psychiatric Patients Not Being Fed Because Road Taxes Not Paid On Hospital Vehicles

First World Barbados – Courtesy of Owen Arthur and Friends 

Really.

Barbados Underground has the story here

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5 Comments

Filed under Barbados, Health, Politics

A Concerned B.S.&T. Investor Writes…

If I was one of the parties interested in acquiring BS&T, as part of my due diligence, I would establish whether United Insurance underwrote the Directors and Officers insurance for the executive directors on the Board of BS&T. To the extent that they did, I would want to look at the excess of loss reinsurance program which covers that type of risk and determine what are the attachment points and limits. Why?

I believe strongly that there has been a severe breach of the fiduciary duty which is imposed on directors with respect to looking after the interest of the company’s shareholders. Not just one shareholder, but the broader constituency of shareholders.

This fiasco offers us an excellent opportunity to go after the directors of BS&T and set an important public example. We also need to use this unfortunate situation to lobby the Government to strengthen the minority shareholder legislation. We continue to debate over the lackluster performance of the local stock market and the absence of the interest by the general public.

The BS&T situation is a clear indicator of why the average Barbadian has chosen to put all of their excess funds in saving accounts and in doing so turned their back on the local capital markets. Seeing how this situation is unfolding, I cannot blame potential investors from staying out of the market. If the Government is serious about developing its capital markets then this situation cannot be ignored as it destroys what little public confidence there is in our market.

I commend Tony Hoyos and Colin Brewer on their efforts to date. Someone needs to speak out and fight the good fight so that others will join in.

Yours truly,

A concerned investor and shareholder in BS&T

45 Comments

Filed under Barbados, Business, Business & Banking

Gardin Democracy – Barbados Police Adopt New Motto

barbados-police-broomes.jpg

Also see…

Barbados Reporters Again Assaulted By Police Thugs – But Is The Nation News Reaping What Is Sowed?

Barbados Police Seeking Help To Replace Important Evidence They Intentionally Destroyed – Superintendent “Poop-For-Brains” Broomes Was “In Way Over His Head” At Bus Accident Scene 

15 Comments

Filed under Barbados, Cartoons, Crime & Law