Archive for September 21st, 2009

Police nab ganja dealers in road block

Police nab ganja dealers in road block

| 21/09/2009 | 13 Comments

(CNS): A weekend road block in West Bay resulted in the arrest of three suspected ganja dealers. The three men aged 22, 25 and 26, were arrested on suspicion of possession of ganja with intent to supply, possession of ganja and consumption of ganja during the Saturday night police operation. Searches of the suspects home addresses – two in West Bay and one in George Town – resulted in additional ganja and drug paraphernalia being found and seized. A half pound of ganja was recovered and two of the three have been released on bail, the third remains in custody police said on Monday afternoon.

The block was carried out by officers from West Bay station, the Uniform Support Group and the K9 Department at around 9.30pm on Saturday (September 19) in the vicinity of West Bay Road Cemetery.

 “I am very proud of the proactive work being done by the officers in West Bay and thank the specialist departments for their support in these operations,” said Inspector Dane Pinnock, second in charge of the West Bay district. “The drug problem continues to be a big concern for the RCIPS and communities throughout the islands, not only because it destroys families but it fuels other offences.

“We take the matter of illegal drugs very seriously and will continue to seek out those who involve themselves in this destructive activity. We will not stand by while these people destroy and threaten the welfare of our communities.”

Anyone with information about crime taking place in the Cayman Islands should contact their local police station or Crime Stoppers on 800-8477 (TIPS). All persons calling Crime Stoppers remain anonymous, and are eligible for a reward of up to $1000, should their information lead to an arrest or recovery of property/drugs.

 

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Diver missing off North Wall

Diver missing off North Wall

| 21/09/2009 | 22 Comments

(CNS): UPDATED — Tuesday 10:00pm. Police said on Tuesday evening that the multi-agency search operation for a missing 60 year old man from Las Vegas had continued throughout the  day but was unsuccessful. The diver, who is visiting the Cayman Islands from the US with his wife, went missing on a boat dive yesterday (Monday, 21 September) at Eagle Ray Path, North Wall, just outside the Main Channel. Police said however, that local dive organisation, Dive Tech would be conducting a specialist deep water dive on Wednesday in the area where the man had reportedly disappeared.

Reports of the missing diver were first made to the 911 Emergency Communications Centre when it received a call from a staff member of Divers Down at the Treasure Island Resort at around 9.40am on Monday.

A search operation commenced involving private dive boats, Department of Environment boats, the joint Customs, Immigration and Police Marine Unit aboard Tornado and Defender and the Air Support Unit.

The Marine Unit dive team has also carried out a search of the area. Unfortunately the search has so far proved negative police stated adding that they had been told the man was last seen at around 9.20am when the group was ascending and has not been seen since.

The man is described as wearing a short black wet suit with grey trim and a tank with a yellow top. All boats in the area are asked to look out for the diver and call 911 or the Port Authority should they spot anything.

Anyone with information about crime taking place in the Cayman Islands should contact their local police station or Crime Stoppers on 800-8477 (TIPS). All persons calling Crime Stoppers remain anonymous, and are eligible for a reward of up to $1000, should their in formation lead to an arrest or recovery of property/drugs.Please note that the missing diver has been confirmed as a 60-year-old man from Las Vegas, USA. The diver is visiting the Cayman Islands with his wife.

 

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Search continues for missing diver

Search continues for missing diver

| 21/09/2009 | 0 Comments

(CNS): UPDATE Monday 4:32 — Police have now said that a diver who went missing this morning is a 60-year-old man from Las Vegas, USA, and is visiting the Cayman Islands with hiswife. A multi-agency search operation is underway off the North Wall. According to the RCIPS, the 911 Emergency Communications Centre received a call this morning (Monday, 21 September) from a staff member of Divers Down at the Treasure Island Resort at 9.40am reporting that a diver had gone missing on a boat dive at Eagle Ray Path, North Wall, just outside the Main Channel.

Police have been told the man was last seen at around 9.20am when the group was ascending. He has not been seen since.

A search operation commenced involving private dive boats, Department of Environment boats, the joint Customs, Immigration and Police Marine Unit aboard Tornado and Defender and the Air Support Unit. The Marine Unit dive team has also carried out a search of the area. Unfortunately the search has so far proved negative.

The man is described as wearing a short black wet suit with grey trim and a tank with
a yellow top. All boats in the area are asked to look out for the diver and call 911 or the Port
Authority should they spot anything. Officials will continue searching the area throughout the
day.
 

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Guilty plea in Jazzy B death

Guilty plea in Jazzy B death

| 21/09/2009 | 14 Comments

(CNS): Paul Ricardo Gordon pled guilty to manslaughter this morning, the day his trial over the killing of Sherman Bodden (DJ "Jazzy B”) was scheduled to commence before Chief Justice Anthony Smellie. Gordon faced charges of murder following the fatal stabbing on 9 March this year of the 42-year-old DJ and well known personality at Vibe radio station, but offered a plea of manslaughter. Solicitor General Cheryll Richards accepted the plea to the lesser charge given issues of provocation. Sentencing is scheduled for Wednesday.

According to police reports that were released in the wake of the killing, the stabbing took place during a fight between the two men at an address in Savannah Meadows. Bodden was taken to hospital after police and medics had responded to a call from a woman reporting the incident at a home in Prince Link. A post mortem revealed that Bodden sustained multiple stab wounds.

Bodden who was better known as DJ Jazzy B was a popular on air personality with Vibe Radio Station and knew Paul Gordon, a Jamaican national who worked as a security guard before his arrest.

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Security guard contains potential gun threat

Security guard contains potential gun threat

| 21/09/2009 | 10 Comments

(CNS): UPDATE Monday 11:30am — Two teens have been arrested on suspicion of possession of an unlicensed firearm, and a BB gun was recoverd over the weekend following an incident at the Al la Kebab premises near the Marquis cinema early Saturday morning. After spotting what appeared to be a man with a firearm, a local security guard confronted the suspect. According to a spokesperson for the security firm Titan, the guard’s actions resulted in the suspect fleeing immediately from the busy scene. “It was quick thinking on the guard’s part that averted another possibly very dangerous situation,” said Matthew Leslie, owner of the firm.

The incident was also caught on CCTV, which Leslie commended the owner, Alan Silverman, for installing. “Mr Silverman has spent a considerable amount on security at his premises, which is a very popular night time dining spot with tourists, residents and locals,” said Leslie. “With a significant number of security staff and the cameras, people were kept safe when this incident occurred.”

Once the guard spotted what looked like a gun, he dialled 911 and approached the individual. A police spokesperson confirmed that two people had been arrested inconnection with the incident and officers had recoveredwhat could be a weapon or an imitation firearm, which is being examined by an expert.

Leslie noted that with the number of firearms related incidents lately, it seems that anything could happen anywhere and the only way to tackle the issue is for owners of businesses to beef up security. “People think that they are immune from prosecution and that they can pull out a weapon anywhere with total disregard. However, when people are caught on CCTV then there is no escaping that,” he said.

According to the police, The 911 Emergency Communications Centre received a call from a security guard at around 2.25am on Saturday morning (September 19) reporting that a man was at the location with a gun.

Police responded to the scene and arrested two 18-year-old men on suspicion of possession of an unlicensed firearm. A search of the area resulted in the recovery of a BB gun. The two men are currently in police custody.

Residents are reminded of the dangers of being in possession of BB guns, air weapons, imitation weapons and replica guns stressing that armed officers must respond to
reports of weapons and treat the situation as if it is a real gun until they can be sure otherwise.

Anyone with information about crime taking place in the Cayman Islands should contact their local police station or Crime Stoppers on 800-8477 (TIPS). All persons calling Crime Stoppers remain anonymous, and are eligible for a reward of up to $1000, should their information lead to an arrest or recovery of property/drugs.

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Beauty salon fire this morning

Beauty salon fire this morning

| 21/09/2009 | 2 Comments

(CNS): A small blaze at an Eastern Avenue hair salon early this morning (Monday, 21 September), apparently caused by an appliance that is used for warming towels, has been extinguished by the Cayman Islands Fire Service. Deputy Chief Fire Officer Doorly McLaughlin confirmed that a team responded to a 911 report received around 5:00am of a fire at the Hype Beauty Hair Salon in Glazier Plaza on Eastern Ave, next to Cayman Glass. “Upon arrival officers saw dense black smoke coming from the beauty salon located on the second floor. They were able to extinguish the fire within minutes. The salon suffered only moderate fire damage, but extensive smoke damage also occurred,” he explained.
 

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BVI judge rules in favour of environment

BVI judge rules in favour of environment

| 21/09/2009 | 4 Comments

(BVI Platinum News): Justice Indra Hariprashad-Charles just minutes ago in the High Court ruled that Hans Creek is a fisheries protected area and that the approval letter issued by the Minister on 31st January 2007 is void for illegality. The case involved judicial review of the former NDP Government’s planning approval for a five-star hotel, marina and golf course that would destroy the scientifically documented biologically important Hans Creek Fisheries Protected Area in Beef Island, British Virgin Islands. In the controversial case a battery of UK Lawyers, headed by renowned environmental lawyer Stephen Hockman Q.C appeared for the VI Environmental Counsel (VIEC). Photo: Ocean Review Institute

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OECD nations to discuss global tax agenda

OECD nations to discuss global tax agenda

| 21/09/2009 | 11 Comments

(CNS): Plans to discuss the harmonization of corporation taxes around the world to stop companies switching their base of operations at this week’s G20 has been the real objective of the OECD for over a decade, says CIFSA Chair Anthony Traverse. Reports this weekend in the international press that the UK and the US have been talking about the idea for several months and that it will be on the Pittsburg agenda this Thursday/ Friday is the first time the G20 nations have admitted their real ambition Travers stated.

“As a number of us have been predicting we see now the hidden agenda revealed for the first time in pure terms,” the Cayman Islands Financial Services Association Chair added. “The ‘one size fits all global tax rate’ has evidently  been the real OECD objective for over a decade from the date of  publication of the “Harmful Tax Competition “initiative  in 1997 which regarded all forms of competitive tax rate  as a threat to the sustainability of high levels of tax in industrialised counties.”

Travers noted that the recognition by the OECD of the Cayman Islands’ white list credentials and compliance on tax transparency has left the G20 nations with no other option but to come clean on what he says are their true long term intentions.  

However, Travers says that this time the argument may be considerably easier to win, given the fact that the “objective is unobtainable,” he added. Travers said that neither the European Union countries nor the United States are in an economic position to dictate a global rate of tax, so the initiative is doomed to failure. He said that the CIFSA public relations campaign would need to be stepped up but given the switch in the agenda this campaign would be a less problematic to counter on grounds of pure economics  now the tax evasion stigma is finally removed from the debate .

“The issue for Cayman is one of long term strategy and with which economies it seeks to align more closely,” he said. “Obviously CIFSA continues to provide its advice to the Cayman government on these matters.”

The discussion regarding a ‘global tax’ is not expected to be on the G20 formal agenda but it is expected to be discussed privately by officials from countries including Britain.

According to the Mail on Sunday, the controversial idea was opposed by the UK government. However, there seems to have been a reversal on that position and the idea is being posed as a way to stop countries from cutting their tax rates in an attempt to poach big companies.

Reports suggest that the UK has been won over to the idea as its own 28 percent rate is not competitive, being the eighth highest in the OECD club of rich nations and the UK is in no position to cut the rate because of the country’s spiralling debt.

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Living within our means

Living within our means

| 21/09/2009 | 23 Comments

We in Cayman are faced with two government financial crises, related but separate. The first is a shortage of cash in the bank: the second is a budget deficit. The cash-shortage can be fixed by either borrowings or quick sales of assets, or both.

The budget deficits can be fixed by either increasing Public Revenue or reducing Public Expenditure, or both.

In a nutshell, the situation is this. When a year’s Public Revenue and Public Expenditure are in balance at say $600 million each, no problem. (All figures are illustrative, and not necessarily accurate.) But Public Revenue in the current fiscal year ending next June is now expected to be about $500 million, while Public Expenditure was budgeted to be $600 million. What to do?

Borrowing is a quick fix, but there is a sting in the tail. Loans have to be repaid out of future Revenues, and where will that money come from? Selling assets sounds easy, but we’re not in a sellers’ market at the moment. If you’re in a hurry, you can’t get the price you want. Most government assets are poorly managed and would be profitable only under private management – if then. But most government operations are overcapitalised, and their sale proceeds mightn’t be anywhere near book values.

Extra taxes increase Public Revenue, and can help fix a short-term cash shortage. But they are very unpopular, and have a nasty history of hanging around for generations after the original crisis is over.
Often, closing down government ventures is the best option. At least that stops the bleeding – provided the employees can be found new jobs elsewhere. The Civil Service Association is determined that none of its members will be laid off. Cabinet has promised that nobody will be laid off. Wishful thinking, I’m afraid.

Actually, Public Revenue may well fall below even the revised projection of $500 million. Tourism is weak, offshore business is weaker. A swine-flu scare might hit tourism numbers even more that the US recession does. An OECD decision to kill off our tax-haven once and for all would drastically reduce business visitors and the fees-income relating to offshore companies.

However, tax havens don’t die overnight. The flow of new business is cut as soon as clients’ confidence is lost, but existing business falls away only gradually, by attrition. Imagine a bath whose water-level is continuously raised by a running tap. When the tap is turned off, the water in the bath gradually seeps away. The plug is never snug enough, is it?

Anyway, whether our Public Revenue in this current fiscal year will be $500 million or much less, we are going to have to ask our MLAs to slash expenses. Our fifteen elected MLAs (soon to be eighteen – more empire-building, God help us) will have little scope in their current term to indulge themselves in vanity projects. Instead, they have the opportunity to gain some respect by culling the present Civil Service empire of existing vanity projects. A return to “core government” ought to earn each MLA a statue in Heroes Square. It’s that important.

The years of madness are over and will never return. We can no longer afford to allow (much less to encourage) our local rulers to spend money like drunken sailors. They – and we – had more money than sense. Now, the money’s gone; let’s see how much sense we have left. Let’s get rid of what we don’t truly need. Let’s try living within our means.

We own and operate a state airline, with all its bells and whistles, in defiance of common sense and financial prudence. We don’t know how much it costs (that’s astate secret), but it must be at least $3000 per registered voter each year. If we are ever to achieve a sustained balance of our government budget in the new economic circumstances, the airline must be sold or closed down. Will our rulers have the guts to do that? Will we have the sense to let them do it?

Does it make sense for us to keep pouring money into our state-run tourism attractions and marketing programs? Those vanity projects probably cost $5000 per registered voter each year; if they were privately run, they would cost the voters next to nothing. The state’s duty is simply to ensure the local infrastructure can support a tourism industry. That’s all. We’re not communists; we don’t need to own and operate.

Our state radio could be sold or closed down; our government goat-counting program could be out-sourced to Junior Achievement. State sponsorship of sports and entertainment festivals could be cancelled. The hundreds (thousands?) of state-owned cars could be sold to their drivers, and the state’s repair shop shut down. We’re not communists; did I say that?

The state’s University College could and should be given to its private-sector rival. The state-owned business-advisory unit (the Investment Bureau) could and should be closed down; let the Chamber of Commerce do the job.

All state-owned buildings could and should be sold to private investors (and rented back) or leased to private-sector property managers. We don’t need a government property empire, to go with all the other empires.

We can scramble out of this present mess if we can restrain our elected rulers’ thriftlessness. But not otherwise.
 

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IRS gives offshore account holders more time

IRS gives offshore account holders more time

| 21/09/2009 | 0 Comments

(New York Times): The Internal Revenue Service will announce on Monday that it is extending its amnesty program intended to root out those suspected of using offshore accounts to evade taxes. The move comes as a flood of wealthy Americans with secret accounts in Switzerland and elsewhere are coming forward todisclose their hidden assets. The I.R.S. will give such account holders an additional 22 days, until Oct. 15, to reveal their accounts if they hope to escape stiffer penalties, a government official said late Sunday. After that, the government plans to prosecute those suspected of tax evasion whose identities it learns but who do not come forward.

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