Mac goes back on road

| 29/11/2010

(CNS): The country’s premier has headed overseas again to promote the Cayman Islands, according to officials. The premier departed for the United States this weekend to attend the Financial Times (FT) Global Finance Forum in New York. Before the conference opens on Thursday McKeeva Bush will be delivering an address at the ‘Cayman Islands International Financial Centre Update Dinner’ tomorrow evening. A release from the premier’s office said he will be delivering an important message to various stakeholders in the financial sector about Cayman as a jurisdiction of choice. Bush is expected to speak to an audience of chief financial officers, chief operating officers, partners and general councils of major firms such as Goldman Sachs and JP Morgan.

The speech themed “Ensuring the Cayman Islands Remains the Jurisdiction ofChoice” will focus on the maintenance of the Cayman Islands tax neutral status and its commitment to meet the standards of international tax transparency.

“The premier will also give an update of developments in the Cayman Islands and government initiatives to enhance the Cayman business environment,” the press office stated.

The forum, which opens 2 December, is titled “Reforming the Global Financial System” and is sponsored by the Cayman Islands Monetary Authority. Forum attendees will discuss ways to strengthen the global financial industry. The premier will deliver the opening remarks at the FT forum, which will be attended by senior executives in the financial services industry, senior government officials, financial services lawyers and accountants, regulatory bodies and academic experts in international finance, regulation and economics.

During last week’s presentation in the Legislative Assembly of the government’s Strategic Policy Statement the premier spoke of the importance of travelling to promote Cayman’s position and that his efforts were beginning to bear fruit.

Bush said he intended to build up the reputation of the jurisdiction and was planning a comprehensive international marketing road show in conjunction with the private sector partners. He said that Cayman had to be at the table at important events and to actively pursue appropriate business and investors.

“We cannot just be the regulator; we have to be partners with the financial services industry and we need to be at the table wherever that is,” Bush said.

Accompanying the premier is his senior political assistant, Richard Parchment, and Financial Services Chief Officer Dr Dax Basdeo is also attending the FT forum.

The premier returns home on 4 December and during his absence Julianna O’Connor-Connolly will be acting as premier.

Print Friendly, PDF & Email

Category: Headline News

About the Author ()

Comments (37)

Trackback URL | Comments RSS Feed

  1. Anonymous says:

    CNS — any chance you can get the attendee list? It be really nice to have a reporter on site to collect some of the reactions from those attendees as well.

    CNS: Sorry, we only have one full time reporter and she’s a little busy. I would very much doubt if we can get an attendee list but if you want to find out more about the conference, here’s the website:

  2. anonymous says:

    Not only is he travelling again, but who are all the other people travelling with him.  Dax I can understand, he has the financial savvy, but Richard Parchment? HUH! What is his purpose?!!  I also understand that others non essential persons are also accompanying him on this trip.  Who are paying for them?!!?  They are not working for the Government, nor CIMA, nor Political, so who are paying for their travels?  Mickey Mouse please investigate and advise the public.  Any wonder Cayman Airways is losing big time.

  3. 5% says:

    wow flying again huh?? chhh i listens to the talk show every morning and our Premier has not came on or made some sort of speech to address these serious crimes and unemployment, you will soon hear "Premier spends $150,000,000 on a new Private jet, stop issolating yourself from the island we all call home, i am sure you grew up on the same turtle stew and conch stew i grew up on right?? i dont know what we are gonna do Cayman but that article should be change "he does not go on the road never, he is in a TINTED dark SUV. so the headline should state "MAC is now Growing WINGS!!" 

  4. Anonymous says:

    This is scary

    We’re sending an uneducated inarticulate man to talk to educated  and experienced financial minds at the top of their game.


    This is not only embarrising it is MAD!

    whatch Moodys downgrade the Cayman Islands to junk status after his speech.

  5. UCCI student says:

    Well done, MB!  I wish you the best in your endeavors for the sake of the Cayman Islands.

  6. EyesWideOpen says:

    The premier should do us all a favor and STAY-HOME!!

    He’s doing more reputational damage than good!!

    He’s certainly not an international quality Ambassador for these islands.

    By the time the 2013 elections come around, I pray to God that we can un-do the damage.

    What a job for the upcoming Govt to do!!!


    • Anonymous says:

      We has to wonder if this site is not paid for by the PPM, all the thumb down for any thing said good about Mac.

      Let me tell you hypocrites one thing , we know what you all trying to do, you don’t want Mac to prosper in his endevors , you would like to see him fail, but that nah going to happen, you could’nt even fit in Mac’s shadow.

      Why is it now, after all these years that Mac has done so much for this country…you now want to skin him alive. You have a well paid  job, you have income coming in from all angles…investments, rental properties, and i could go on.

      Stop trying to tear down the man, when you tear him down, you are tearing down the Cayman Islands. Some of you had your chance in the political ring, but you couldn’t measure up, so bug off.

  7. tdi says:

    The Premier is not a quitter. He wouldn’t just fold his hands and one day say, "I’m stepping down as party leader," or, "I’m staying at home and hoping prosperity comes to us!"  He is business-minded and the good thing about Mac, he cares not what other people say or think!  He could care less if he makes hugh mistakes. He could be branded as the devil by the media and still that doesn’t effect the Premier. Always he gets up when he falls and continues towards the goal ofmaking money. He has made many hurdles in a matter of two years, and his opponents look small when they criticize the UDP’s great endeavors like the Shetty Hospital, Cruise Berthing Facility, and contributions to the Financial Center. Most importantly, I know the Premier personally and I can tell you, he is a family man with a big heart. During Hurricane Ivan, he allowed more than 80 people to reside in his home for shelter. He has given to St. Lucia to help them, and I have never heard make put down the NAME OF GOD!!! He is the only leader I know who OPENLY would sing before an audience of God’s goodness and grace!  And it could be… that is the reason why he is hated and yet is successful.   

    At times, I wish some of our own people had the drive and "push" like McKeeva Bush – Our First Premier.

    • Dern U. Crabsinnabukit says:

      tdi, I agree with you. It seems to me that the more this current Government tries to achieve, the harder we work at trying to drag them down. We need to recognize they are not just sitting back. Instead they are moving forward and fighting a hard battle to save our country. I believe they have a good chance of succeeding, in spite of all the negative press and controversy.

      "Good Medicine" is meant to cure us although it often leaves us with a bitter taste. Perhaps we may even end up with a few negative side effects. Swallow your pride people and try to remember we all want the same thing. The future health and success of The Cayman Islands is at stake.



    • Pending says:

      Here are some of the issues people have with MacKeeva, clearly you don’t read the news or this site to often otherwise you would n’t have wasted your time writing what you did:

      1) Spending money when we clearly do not have it.

      Having proclaimed that the country is broke he and his party / cronies have  (or intend to) spend vast quantitiesof money that the country does not have. Examples; shelter in Brac, christmas lights, chef, 1st class travel etc etc, this list would be endless.

      What could he do? Refrain from spending in needless things like 1st class travel around the world when the country is broke. Try flying economy prhaps or dont fly at all. This is a technological age, there are countless other methods of doing business.

      Especially when he talks about fiscal prudence, another concept that the UDP does not understand.

      2) Address the crime situation – it is out of control

      Nobody in the world is going to come to Cayman let alone set up shop if the current state of affairs continues and continues to go unadressed.l What is Mac’s mode of thuinking on this issue? We don’t know since he did not even address the situation once in his strategic policy. Clearly has his head in the sand. Do you think Shetty will build his hospital heerif there is a chance of it being robbed, his patients being robbed or their relatives who will be staying in our hotels? I THINK NOT.

      There will be no point in building the crusie ship facility as there will be no crusie ships coming here. In fact, i dont really see the point in it anyway as the crusie industry announced that only 2 ships would be sailing the Caribbean for the next 2 yrs.

      3) Stop increasing fees across the board that we all have to pay whil;e he continues to spend like a maniac. The cost of living in Cayman is one of the highest ion the world and our unemployment figures are going through the roof. And I guanratee there will be more increases before he is done. Will those unemplyed be employed by the time he is done? Doubt it, and there will be more in the same situation.

      4) XXXX

      5) He does not care what anyone else thinks, just himself.

      I think he is under the assumption that he voted himself into power.

      6) He breaks / circumvents the law at will. He changes the law at will. He believes he is the law.

      7) He is an embarassment at times in public forums, both here and abroad by not thinking before he talks.

      8) He might go to church, but so do alot of people. That really doesn;’t mean anything. His actions should demonstrate that to you.

      And this list could go on and on and on…but my fingers are tired from typing and I can’t be bothered anymore.

      He could do us all a favour and just resign but that won’t happen. He will continue to do what he is doing until everybody and their dogs have packed up and gone. Then who will save you? Mac? Nope, cause he will be gone too.

    • tone-deaf says:

      tdi- did you really just praise a political leader for singing God’s praises? just a thought, but perhaps a political leader should actually be able to fiscally function on a national scale and have a superior grasp of economic theory… i’d prefer to leave the singing to my grandmother…

  8. Anonymous says:

    Boy he can hustle since he lost weight. How’s them fish catching Kurt ?

  9. bradley says:

    IGNORANT PEOPLE: "Bush should be home not accruing any travel expenses"

    SMART PEOPLE WHO ARE NOT BLINDED BY POLITRIX: "Bush should continue traveling to promote the Cayman Islands"

    On the topic of Travel Expenses, always on CNS, I see two groups of people. Those who put Economy and our welfare above Politics, and those who side along Party line and put that above everything else.

    Doesn’t the Bible say that a Kingdom / House that is divided will fall?

  10. Anonymous says:

    Read this properly. FT and CIMA are paying for the entire event. This is a huge advertisement and the attendees get a free dinner & some booze.

    Can’t believe C-level representatives from these companies would want to sit through this premier giving a speech any other way!

  11. Anonymous says:

    Does anyone know how many days this man has spent in the Cayman Islands since the last elections? I would prefer not to have to ask Mickey Mouse to submit an FOI question so I thought I’d inquire here first.

    • Anonymous says:

      Who the heck cares, if you were to work as hard as he does to boost up the economy, we would have a better Island.

      You could never fit into his shoes.

      • Pending says:

        What boost do you talk of? I haven’t seen anything. Just spend, spend, spend which evidently seems to happen everywhere he goes, but not in Cayman.

        Perhaps you can enlighten us all on the change that has boosted our economy?

        Unemployment, high fees, and debt genrally mean that there has been no boost to the economy. And when he doesn’t undersatnd the concept of fiscal prudence, there won’t be any such boost that you talkof.

      • Anon says:

        He need not go on fancy working holidays for that. He can start by reducing the cost of doing business. That does not require a first class airfare.

  12. Jenny Canty says:

    I think your Bush works hard and I respect that. Just as I respect democracy. You voted him in – keep your criticism during his term rational, and your support bountiful.

    PS -travelling is overrated by non travellers

  13. Anonymous says:

    What’s the cost of this trip and the others they went on? What revenue has the Gov’t received or foreign investment placed in Cayman from all these trips?

  14. Anonymous says:

    Mac speaking to the financial big shots in the US? I can already see the glares and smirks of ‘where did they get this guy from…’

    Please just read the script and not a word more.

    The leader has no clothes!!

  15. Anonymous says:

    I hope he takes some time to visit Cohen & Cohen while he is there to find out what the interest rate is going to be on the $185M loan he has committed this country to.

    It wouldn’t hurt to get some minor details as well, like how much the "finders fee" is and who gets it.

  16. Anonymous says:

    traveling again. I thought the country was broke.

  17. peter milburn says:

    Bon Voyage monsignor

  18. Anonymous says:

    for someone who ‘does not like flying’.. he sure does travel alot…..

    all his travelling has not brought in $1 of foregn investment…what a failure over the last 18 months…..

  19. Anonymous says:

    For God’s sake McKeeva read the speech they’ve written for you and don’t even think about lifting your head up and giving off the cuff comments.

    Attention damage control team – Be on high alert for this one !

  20. Anonymous says:

    I think hes trying to leave the country broke but you know what, not much going on as he wants to do it all himself.Now with Perlina, new ideas, fresh blood. He loves that. 2 can play that game, come on guys meeting asap. doen’t mean thast you are the opposition that you should sit on it .Start with your trustes and bring in fresh blood too.I told you once burn twice shy. I am almost exited for you all. Think about it. The many who did not vote in the last election and  if they see what they like could and will be the difference.

    • Lachlan MacTavish says:

       Our country is out of control. With any situation there should be a "return on investment". For 2 years now I have seen zero return on investment/vote.

      • Anonymous says:

        Hey Lachlan, can you let us in on how your economy is doing, where you live?  

        • Lachlan MacTavish says:

           How is the economy here? It has been horrible for the last 2 years. But here on the central coast it has seemed to stabilize. Business has picked up a little. Banks are loaning and you can get loans again. Tourism is improving slightly. Local Government and business’s cut back expenses drastically 18 months ago. State and county employees reduced and all benefits suspended until the economy stabilizes. We tightened our belts, made tough decisions, found new ways to pay bills and reinvented how some businesses work and it seems to be pulling us out of the down cycle slightly. 

          • Anonymous says:

            Come on Lachlan, really?? sounds like Utopia, no wonder you got out of Cayman. Grass is always greener on the other side. Unfortunately, most of us "born Caymanians" don’t have the luxury of a US passport and can just run when the going gets tough!!

            Glad to hear though that you live some place that you don’t have to complain you a lot of spare time to criticize us.

            We still live in the best place in the world despite our many problems. We will survive. We always have, despite our many troubles and roadblocks.

            • Lachlan MacTavish says:

              Slightly, seems, maybe stabilized is far from Utopia. It is tough everywhere now. In an open, democratic free society we can express our opinions. You call it complaining and criticism. I call it healthy debate and attempting to question our extremely well compensated elected leaders in an effort to see the crime rate addressed, the deficit, cost of living for the middle class, lack of stay over tourism, antiquated CIG income streams, all the issues that seem to not be addressed these days or if they are someone is doing a poor job of letting the voters know about it. These issues are not going to correct themselves. 

      • Anonymous says:

        Zero returns I can live with, it’s the negative returns that bother me.

    • Anonymous says:

      Can someone please translate the above letter into English?

      • Alcoholic Epiphany says:

        I, too,  just had my 12th rum and coke but now I totally get it.   What the poster is saying is that Pealina shouldn’t be a scapegoat; she should be the UDP savior.  UDP needs to rally around this woman right now.  She’s fresh, new blood and everybody would vote for her.