Daily Archives: December 28, 2011

Harlecon.net = Dead blog?

We’ve noticed that not a new word has been published on the controversial blog Harlecon.net in over three weeks, and there hasn’t been an original post in almost a month.

Have the authors of Harlecon.net made their point? Is there nothing left to tell? Are the whispers of lawsuits in the works giving pause? Or… is it simply the end of the year and everyone has a martini in their hand?

Whatever the reasons, Harlecon.net is as lifeless as the ex-wife of my old African Studies professor. I know about her because Professor “K” made her the butt of numerous jokes every class.

Harlecon: Where are you?

Cliverton

6 Comments

Filed under Barbados

Why was a profitable division of CLICO sold off?

Dear Barbados Free Press,

I don’t pretend to be knowledgeable about high finance or corporate affairs, and therefore I have to look at situations on a simple level. I’m having difficulty understanding something about how the powers that be handled the CLICO debacle. Here is my observation and questions:

In the current issue of Barbados Today, the news article “Upturn” says,

“One year after being rescued from under the beleaguered CLICO Holdings umbrella, Capita Financial Services, formerly CLICO Mortgage and Finance Company, is projecting a profit of just over one million dollars at March next year.”

Barbados Today Upturn

Why would the trustees of the CLICO mess sell off a profitable operation?

To my mind it would make more sense to hang onto it. The profit from this successful operation could have been used to shore up the rest or at least reduce the damage to policy holders who were ripped off.

That is unless the vultures saw an opportunity to grab a profitable piece of the company at the expense of the already-victimized policy holders.

Can someone please explain why this selling off of a profitable piece of CLICO was necessary and how it was good for the victims of Mr. Leroy Parris and Mr. Lawrence Duprey?

Thank you,

A fellow victim

7 Comments

Filed under Barbados, Business & Banking, Consumer Issues, Corruption, Offshore Investments