'Gun fired' on Atlantis capital improvements
KERZNER International has "fired the gun" on what is expected to be a $60-$65 million capital investment programme at the Atlantis resort in 2012, its Bahamian head saying performance targets set by the new owners would not involve "miracle work" to meet them.
Banks to replace $130m in capital
BAHAMIAN-owned commercial banks will have to phase out and replace some $130 million in collective preference share capital over the next decade, a task that has been described as a "significant change but not onerous".
Atlantis primed for 'take-off to greater heights'
KERZNER International's completed $2.5 billion debt restructuring will pave the way to "a new take-off to even much greater heights" for its former Paradise Island properties, the minister of tourism and aviation believes, with the Government having all the Bahamian employment and tourism economy safeguards it wanted.
Hilton invests $1m in upgrades
THE British Colonial Hilton has seen a positive performance this year in all segments of its business, an executive telling Tribune Business that it had recently spent $1 million to improve its product offering.
8,000 PI jobs guarantee is 'exceptional'
PRIVATE sector leaders have hailed the Government's achievement in getting the new Atlantis and One & Only Ocean Club owners to commit to maintaining a minimum 8,000 employee level on Paradise Island as "exceptional", adding that this and other assurances seemed to be "a win-win for all concerned" in the short-term at least.
Depend on Gov't for regulation only
MOST economic textbooks tell us there are a number of different types of enterprise - sole proprietorships, partnerships, private and public liability companies, corporations and the Government.
Building suppliers 'cut off' from large projects
BUILDING material and supplies companies say sales continue to remain relatively flat, with one executive claiming that Bahamians are being completely shut off from big projects.
PLP candidate urges Gov't: 'Be more specific on Atlantis'
THE Government has been urged to be more specific on the scope of job security provided to Kerzner International's 8,000 employees on Paradise Island in the resurrected 'debt-for-equity' swap deal with Brookfield Asset Management.
My plan for small business growth
SMALL and Medium-Sized Enterprise (SME) owners must carefully review all political parties' platforms for the upcoming May 7, 2012, general election. SME owners must determine which political party best articulates strategies that will develop the SME sector, and grow and diversify the economy of the Bahamas.
'Almost $900m' raised on LPIA redevelopment
THE Nassau Airport Development Company (NAD) yesterday told Tribune Business it had now raised "almost $900 million" via six separate financial transactions, having just closed the final $225 million round to fund Lynden Pindling International Airport's (LPIA) $409.5 million redevelopment.
24% energy cost rise 'Achilles heel for private sector
WITH Bahamian hotels suffering a 24 per cent year-over-year increase in electricity costs for January 2012, a senior industry executive yesterday warned that energy prices were the "Achilles heel" for the sector and wider business community, urging this nation to press "the priority button" in tackling the issue.
Fuel costs hurting tour firms 'big time'
TOUR companies are going to be hurt "big time", and some may end up going broke if fuel prices continue to rise, a leading operator telling Tribune Business yesterday that "our fuel costs have gone through the roof".
$250k wine boutique set to create six jobs
A WINE boutique will now complement the gourmet Balduccino Fine Foods deli, its general manager, Anton Alexiou, telling Tribune Business yesterday that over $250,000 had been invested into the venture that would likely create six additional jobs.
'No question' over AML-City Markets deal if left to chiefs
CITY Markets' principal yesterday said "there's no question" that a Joint Venture partnership with BISX-listed AML Foods would have been secured if he had been negotiating solely with the latter's chairman, while confirming that the Finlayson family had initially sought Board control.
Learn from, don't fret, over failures
THIS week's article is directed more towards Internet entrepreneurs, although the comparisons to land-based businesses are there, too. Besides, many Bahamians are already out there on the web, and their businesses are starting to attract good resale prices, too.
