IAN FERGUSON: The difference between adding value or disgrace
Most employers have encountered employees they dread seeing duplicated in the workplace. These individuals typically have a track record of low productivity, making mischief at work or adversely affecting the company’s bottom line.
‘Sarkis told me: Local contractors get 100%’
A Baha Mar director yesterday refuted the Attorney General’s suggestion that Bahamian contractors will only receive 10 per cent of the sums owed to them, revealing: “Sarkis Izmirlian personally told me he will make them whole.”
Rosewood exit will cost Baha Mar $8m
Baha Mar yesterday warned it would suffer “great harm”, including the loss of $8 million in ‘key money’, if the Rosewood Hotels brand was permitted to withdraw from the project.
Sky chief warns over ‘pay to play’ culture
Sky Bahamas’ chief executive yesterday warned budding entrepreneurs that they were likely to encounter a “pay to play” culture when establishing operations, and urged them to conduct a ‘P.E.S.T’ analysis of their business environment.
Baha Mar team starts ‘educating’ liquidators
The Government and Baha Mar remained far apart yesterday on their interpretations of the provisional liquidation ruling’s impact, as the developer started to “educate” the Supreme Court’s appointees on the intricacies of the $3.5 billion project’s predicament.
Baha Mar ‘not too far gone’ for arbitration
The $3.5 billion Baha Mar dispute is “not so far gone” that professional arbitration will be unable to resolve it, the Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chief executive yesterday arguing that such intervention was becoming more urgent by the day.
BOB losses slash NIB income 66%
The National Insurance Board (NIB) suffered a two-thirds cut in total comprehensive income for 2014, due almost entirely to its share of Bank of the Bahamas’ near $69 million net loss.
BOB ‘bad bank’ got security for realtor’s $9.4m
Kings Real Estate’s principal obtained $9.365 million in credit from Bank of the Bahamas that is at least partially secured on Ocean Club Estates real estate transferred to the taxpayer-owned ‘bad bank’ that is Bahamas Resolve.
Baha Mar appoints ‘restructuring’ chief
Baha Mar yesterday pushed forward with its Chapter 11 plans by seeking US court permission to appoint a ‘chief restructuring officer; while Bahamian attorneys spent a second day attempting to thrash out the powers its joint provisional liquidators will possess.
SME Bill ‘receded from the front line’
A Cabinet minister yesterday conceded that the long-awaited Small and Medium-Sized Enterprises (SME) Development Bill “may have receded from the front line”, but nevertheless remained on the Government’s legislative radar.
BISX ‘ahead of plan’ on profitability return
The Bahamas International Securities Exchange (BISX) is “ahead of schedule” following three consecutive years of profitability, its chief executive saying it had successfully ‘changed the conversation’ from survival to growth.
Timeshare resort seeking a buyer
A Freeport timeshare resort that has lost 80 per cent of its business due to loss of amenities and access associated with the Royal Oasis saga is seeking a buyer, while committing to staying open through 2016.
BISX’s new ‘leap’ after record year
The Bahamas International Securities Exchange (BISX) “eclipsed” previous records as it added its 23rd listing of the year yesterday, prior to staging its first-ever ‘Future Investor Conclave’ that aims to accelerate capital markets growth.
Bank of Bahamas select committee ‘a wonderful idea’
The Opposition’s deputy leader yesterday said it would be “a wonderful idea” for a bi-partisan House of Assembly select committee to probe Bank of the Bahamas’ ongoing woes, amid suggestions that politically-connected ‘bad’ loans had not been removed from its balance sheet.
Court dismisses challenge to hotel employers, union
The Court of Appeal found there is “no arguable case” against the Minister of Labour as it dismissed a challenge to his treatment of the hotel union and industry employers’ association as properly-registered trade unions.
