Daily Archives: March 13, 2010

Rawdon “Rawdi” Adams: The question he was never asked…

Ian Bourne interviews Rawdi Adams – the son of Barbados’ second Prime Minister: Tom Adams

Our old friend Ian Bourne cornered Rawdon Adams the other night for an exclusive interview and asked him a few questions that the oldstream Barbados media wouldn’t dare.

The grandson of nation-builder Grantley Adams (With Rawdi in the above photo… look at the eyes! the chin, the nose, the smile!) and the son of our second Prime Minister Tom Adams had much to say about Barbados and Bajan politics. I was, frankly, quite surprised by Rawdi’s candor – but not by Ian’s probing and opinions.

Barbados Journalist Ian Bourne

Ian Bourne is pretty good, you know. It’s a damned shame and to our nation’s loss that Ian is not financially independent enough to be the pit bull that he is capable of being. Not that we think he doesn’t do the best that can be done, you understand. It’s just that we’d just love to see Ian with about US$five million in an American bank and not having to be careful. Ian Bourne + US$5 million in the bank = nuclear bomb dropped on Bajan politics!

Okay… what did Ian ask Rawdon Adams the other night? Well… you’ll have to visit Ian’s Bajan Reporter to find out.

What didn’t Ian ask Rawdi Adams?

A simple question…

“Mr. Adams. Who’s in charge of the Barbados Labour Party at the moment: Mia Mottley or Owen Arthur?”  🙂

Check out Ian’s story: Bajan Reporter – Tom’s son knocks Thompson

You can also check out Rawdi Adams’ blog too! Capital Chronicle even though Adams was dead wrong about shorting Apple stock!

… posted by Robert


Filed under Barbados, Politics

Son of Barbados shines at the Winter Paralympics – The Lou Gibson story

Seven years ago, Lou Gibson of Langley was out for a morning bike ride when he heard a car pulling up behind him.

He could feel something wasn’t right and took a quick backward glance. That is all he had time for. He was hit.

He remained conscious through the blur that followed, lying on the side of the road, the ambulance arriving, the transport to hospital.

In that instant, his life was turned upside down. The para-Nordic skier in the 2010 Paralympic Games spent the next six months between hospital and rehabilitation at G.F. Strong Rehabilitation Centre.

Emerging in a wheelchair, the Barbados-born athlete then spent a number of years as an outpatient. He lost his job as a truck driver. He lost so much…

… continue reading this truly uplifting story at the Vancouver Sun: Langley sit-skier makes great strides since accident


Filed under Barbados, Canada, Olympics, Sports

CL Financial – CLICO scandal: Silence from Price Waterhouse Coopers as forensic investigator Robert Lindquist submits report

“No one is questioning the role of Pricewaterhouse Coopers in this Clico fiasco. PwC consistently signed clean Audit reports for Clico and CIB despite knowing about the inaccurate and fraudulent accounting. CIB’s accounts for the 2007 year end were signed off on December 3rd 2009, less that 45 days before the company crashed. There was no going concern qualification, or subsequent events note that should have been in the audit report. Surely PwC knew of the company’s predicament when they signed the accounts!”

“CIB’s accounts for the year ended December 31st 2007 were signed off on December 12th 2008 to be exact. PwC knew about CIBs predicament and still signed a clean audit report. We are a backward community if that firm is allowed to continue unscathed.”

… Above comments left by BFP reader Trini Whistleblower on May 18, 2009 & June 7, 2009

What did PWC know about CL Financial & CLICO – and when did they know it?

I don’t know much about business, auditing or bookkeeping other than what I’ve read here and there – but I have the impression that a small business person could successfully hide many offside and questionable transactions from their employees, accountant, the tax people and their husband or wife.

At least, a business owner might be able to hide them for a while because, unlike a public company, small private businesses don’t usually get audited. The relatively small number of transactions is easier to juggle too. Also, a small business person can make some side deals for cash once in a while, maybe have some inventory “stolen” or “damaged beyond repair” while they sell it out the backdoor for cash.

Yes, a small business owner could probably pocket ten or twenty thousand dollars a year without raising too many red flags – and it could probably be done successfully for years if the owner doesn’t get too greedy.

Of course, if you’re a multi-national public company like CL Financial & CLICO that has to be audited every year it becomes much more difficult to hide missing cash, inventory and company value to the tune of, oh – for instance – say, 76.1 BILLION DOLLARS.

Yet that is exactly what happened…

One moment CL Financial was worth over 100 Billion dollars and a few days later it was worth only 23.9 Billion.

Now, like I say folks, I’m no accountant or auditor like the very prestigious firm of Price Waterhouse Coopers, but I can subtract 23.9 from 100 and determine that we seem to be missing 76.1 Billion dollars.

Just a minute – I’m going to check if any of those missing billions might be lying around in my desk drawer… Nope, not here. Maybe in the boot of Shona’s car? No, not under the bed either. I wonder where the 76.1 Billion dollars could be…?

I’d wager that right now there are a few Caribbean bankers, politicians and business people who don’t want shareholders and forensic auditors looking too closely in their desk drawers or in the boot of wifey’s car… or too closely at various financial transactions that happened over the last ten years.

It would be a good guess to assume that some folks at Price Waterhouse Coopers are making plans for early retirement.

Price Waterhouse Coopers and some of their associates have some serious explaining to do about where the MISSING 76.1 BILLION dollars might be and why they failed so miserably in their duties.

Hang ’em High!

The elites, including Prime Minister David Thompson, are doing their best to protect Sylvia and Lawrence Duprey, Leroy Parris and other friends – but in the end a few sacrificial lambs will have to be offered to the public.

How will the Caribbean banks, politicians and business people retain public confidence if they don’t publicly hang a few bodies at the crossroads?

The question I have is: How many of the hanging bodies will be Price Waterhouse Coopers employees and associates?

Further Reading

Keltruth Blog: Forensic investigator Robert Lindquist Submits Report on CL Financial & CLICO. Government Silent.

Keltruth Blog: What is the Nature of the Relationship between Leroy Parris of CLICO and Barbados Prime Minister David Thompson?

About BFP’s use of the PWC logo: This logo only consists of typefaces, individual words, slogans, or simple geometric shapes. These are not eligible for copyright alone because they are not original enough, and thus the logo is considered to be in the public domain – so stick it where the sun doan shine if you be PWC comin’ after poor little BFP!


Filed under Barbados, Business & Banking, Consumer Issues, Corruption, Crime & Law, Ethics, Offshore Investments, Political Corruption, Politics, Politics & Corruption