Archive for January, 2011
Lower airfare to attract visitors, says CBO speaker
(CNS): One way to encourage visitors to get to a destination is to lower airfare, according to the Bahamas Minister for Tourism and Aviation, Vincent Vanderpool-Wallace, who spoke at last week’s Cayman Business Outlook conference, held at The Ritz-Carlton. This was critical, he said, because once visitors had received a good deal in their airfare they would be inclined to spend more in the destination itself. Embracing the digital age was another important move. “I am a great believer in the thought that God created man to create the Internet to help the tourism sector,” he said. “It’s the most efficient system ever created and yet large sectors of people are still not using it … The customer is now the reservation agent.”
Short stay visitors ought to be encouraged because they tend to spend more than those who have longer stays and people from nearby in the States ought to be specifically encouraged to visit places like Cayman because of their proximity and thus ease of travel to the jurisdiction.
There is no place for “ego” tourism in this current financial climate and destinations need to think about the bottom line when it comes to tourism, Vanderpool-Wallace said. He explained the value of tourists to an economy, saying that they spent more than locals but didn’t put a drain on schools or hospitals and they didn’t deplete natural resources.
“It’s a clean business and they contribute enormously to the economy,” he said. The problem was, he added, that each destination only had one shot at getting these important consumers to spend their money, so countries had to really work hard to get the most spend from visitors to their destination.
Focusing on core competencies was vital and diversification was not necessarily a panacea, he confirmed, stating that companies such as LVMH did so well because they concentrated on what they did best.
Destinations needed to work much harder at attracting visitors. “Tourism these days has little to do with flying and fopping,” he confirmed. “You need to create reasons to come to your destination.” He believed that sports and medical tourism initiatives were good ways to encourage more visitors.
The Caribbean was, Vanderpool-Wallace stated, the most tourism dependent region in the world. The region needed to make it a place where tourism talent gathered and was marketed all around the world, much like how Silicon Valley in California had become the IT hub of the world.
“Why aren’t we the HQ for tourism?” he asked. “We’ve got to stop relying only on other people who come to our shores. Tourism is a national business.”
Lord Taylor guilty of making false expenses claims
(BBC): Ex-Tory peer Lord Taylor of Warwick has been found guilty of making £11,277 in false parliamentary expenses claims. The 58-year-old peer claimed travel costs between his Oxford home and Westminster, as well as subsistence for staying in London. He claimed he had made the false claims "in lieu of a salary", and had been acting on the advice of colleagues. But a jury at Southwark Crown Court found him guilty by an 11-1 majority verdict. He has been released on bail pending sentencing at a date to be confirmed. Taylor, who was Britain’s first blackpeer and a former barrister and radio and TV presenter, listed his main residence as a home in Oxford, which was owned by his nephew, while he actually lived in a flat in London. He is the third MP to appear in court over expenses.
Antibiotics linked to health risks in kids
(CNS): Children who are prescribed antibiotics within the first six months of life are at a significantly increased risk of developing asthma and allergies by the time they reach six, according to new report. Researchers at the Yale School of Public Health in the United States followed 1,400 women, collecting data throughout their pregnancies and from their children until their sixth birthdays. They found that infants exposed to antibiotics during their first six months were up to 52 percent more likely to develop childhood asthma and allergies than those who did not receive antibiotics.
While previous studies have also found that antibiotic use may increase the risk of asthma in children, those studies may have been biased because antibiotics are used to treat respiratory tract infections that could themselves be early symptoms of asthma.
The Yale study sought to eliminate this bias and concluded that antibiotic use increased risk of childhood asthma even in children who have not experienced respiratory tract infections and in children whose asthma is first diagnosed after three years of age.
According to researchers, the use of broad-spectrum antibiotics and the fact that children in developed countries grow up in overly hygienic environments may suppress their developing immune system and produce a reduced anti-allergic response.
Researchers say that early microbial exposure, particularly in the intestinal tract, seems necessary for transition to a mature and balanced immune system in childhood. Antibiotic use, especially broad-spectrum antibiotics, may alter microbial flora in the gut, thereby causing imbalances in the immune system and a poor allergic response.
A third of infants in the US are exposed to antibiotics in the first six months of life, most commonly for respiratory tract infections, although the majority of these diseases are viral and do not respond to antibiotics. The use of broad-spectrum antibiotics continues to increase.
“The findings from our study should encourage physicians to avoid unnecessary antibiotic use, especially in low-risk children,” said Kari Risnes, a paediatrician from the Norwegian University of Science and Technology, visiting researcher at the Yale Center for Perinatal, Paediatric and Environmental Epidemiology and the study’s lead author.
Projects needed to lift market
(CNS): With 2010 one of the worst in recent times in terms of real estate sales for the Cayman Islands, brokers across Grand Cayman are predicting a slight upswing this year, but warn that plans by government to lift the economy need to take effect to make it happen. Kim Lund, Owner/Broker with RE/MAX, said that 2011 will still be another slow and painful year for real estate sales, as the tepid US economic recovery starts to slowly have some impact in Cayman by mid 2011. “Sales should start picking up this year but it will only be the very best properties with the most beaten down prices that sell. There will be precious few properties that actually sell for market value in 2011,” he confirmed.
Lund said there are two viable possibilities for the big real estate story of 2011. “One is a mega resort for the hundreds of acres currently owned by Thomas Enterprises, north of the CI Yacht Club. New financing has recently been put in place on this property, indicating there may be some activity brewing. The other is a boom of resort development, just north of the public beach on West Bay Road, if government agrees to move West Bay Road back to the east, so that it runs behind the vacant Courtyard Marriott Hotel. This would vastly increase the amount of developable beachfront on Seven Mile Beach,” he stated.
Following announcements last week, Lund’s wishes may well come true as the premier told the CBO on Thursday that the road is very likely to be moved now that Dart have purchased both the land and the Courtyard Marriot. However, the Camana Bay developer has not offered a timeline for developing the area and has described it as a future opportunity.
Regardless of the situation concerning the Courtyard Marriot, RE/MAX broker Kass Coleman says that everyone from their RE/MAX office feels that 2011 will be a minimum of 10 to 40 per cent better than last year and the year before. “Buyers feel the fog has cleared and they are making decisions and getting on with their real estate planning and purchasing,” she said.
Although optimistic in the long term, Mike Joseph, also a broker with RE/MAX, feared the downturn in the industry had not yet passed Cayman by.
“The instability and uncertainty in many respects, locally and internationally, have been very influential despite the opportunities created in a recessionary market. Simultaneously the market believes that prices will drop further and are waiting for new opportunities this year. 2009 and 2010 saw reductions in pricing in many of the sectors of the local property market yet the number of transactions were still suppressed,” he confirmed.
Not only have North American investors (traditionally Cayman’s biggest market driver for real estate) been nervous about spending during a recession, but the contraction in Cayman’s population has also hit the real estate industry hard.
Joseph explained, “The contraction in population has negatively affected the rental market for landlords/property investors and in turn developers who have been left with completed but unoccupied units. Sales prices therefore have been reduced in order to generate sales and the local residents are seeing these opportunities but with a continued lack of confidence, they have still remained apprehensive to purchase.”
Joseph believed that the slew of projects waiting in the wings will kick start investment in real estate.
“We need to see certain developments and projects, ideas and concepts break ground,” he said. “Delays create more uncertainty. We need the new cruise berthing to start, the runway to be lengthened, the Shetty Hospital to proceed, along with other projects. Collectivelythese add value to the Cayman product and in turn will encourage activity once more.”
Joseph says the industry itself has been working hard to generate business. “The good news is that we haven’t been sitting still waiting for the storm to pass us by, the local industries and representatives have been actively reviewing and considering how to weather the storm short term and importantly how to emerge with wind in our sails. CIREBA has been and continues to consider our collective new reality, the Chamber of Commerce has been integral in creating a public-private cross aisle review with the Future of Cayman Forum.”
Sheena Conolly, Owner/Broker with Sotheby’s International Realty, Cayman Islands said that the investment climate has changed and some have recognised that prices have dropped considerably and that now is a good time to buy.
“We are seeing signs from executives who are already established in Cayman, looking to move up the property ladder to capitalise on the down market. Interest rates have remained low and once potential buyers feel comfortable that Cayman is home and they have a reasonable sense of tenure, they are surely smart to buy now,” Conolly confirmed.
She said that overseas vendors who really need to sell are now pricing more competitively than before to move the real estate asset.
“Historically there was rarely the same urgency or financial need to sell, as the Cayman property could rent if needed. Times have changed.”
She added, “Confidence is everything, and once Cayman starts to get active with some new projects like Dr Shetty’s hospital, the George Town cruise terminal and others, there could quickly be an upsurge of positive activity – and on these small islands, the trickle down effect can flow quickly.”
Win a Chile vacation at food and wine festival
(CNS): A 6-night trip for two to Chile is up for grabs at the 23rd Taste of Cayman event, which will take place this Saturday, 29 January, at Camana Bay. All tickets sold will be entered into raffle drawings and the winning ticket holder will stay at the Marriott Santiago resort in Chile (left) in the Las Condes district with easy access to all of Santiago and minutes from popular ski centres. This grand prize package also includes a wine tour, dinner and $500 in spending money. Other adult prizes include roundtrip tickets to Cayman Airways gateways, including Washington DC, Chicago, New York, Tampa, Jamaica, Cuba, Chicago, Miami, Little Cayman and Cayman Brac.
Child ticket holder prizes include a watersports birthday party for 15 kids ages 5 to 12 from Red Sail Sports, valued at over $400. In addition, kids’ tickets are entered for chances to win gift certificates for bouncy castles and kids zone gift cards.
All attendees at Cayman’s annual food and wine festival can sample delicious food and fine wines from 38 of Cayman’s hottest restaurants but the first 3,000 adult attendees through the gates will also receive a bonus Taste of Cayman swag bag that will be filled with giveaway items.
Spot prizes will be included in some of the swag bags so attendees have surprise chances to win gift certificates valued up to $100 from a variety of Cayman Islands Tourism Association (CITA) members, including but not limited to Michael’s Genuine Food & Drink, Osetra Bay and Red Sail Sports.
This year the event will also introduce a new voting process for the people’s choice award, where a participating restaurant will walk away with the title of “Cayman’s Favourite Restaurant”. Each attendee will be given a wooden coin upon entry and as they walk around sampling meals from each establishment, visitors will choose to drop their coin into a voting bin outside the booth of their chosen restaurant. At the end of the night all coins will be tallied and Cayman’s Favourite Restaurant of the year winner will be announced.
There will be a traditional heavy cake competition at All Things Cayman, a dedicated display of local crafts and music. In the Bacardi Mojito Lounge, a live DJ will provide good vibes while visitors dance the night away and sip on the best Mojito outside of Cuba.
The Zen Lounge by Taikun Sushi, Veuve Clicquot and The Ritz-Carlton Grand Cayman will be an intimate setting with a top shelf bar and bubbly by Veuve Clicquot. The Cassia Court at Camana Bay will be transformed into a luxurious lounge with fine foods and spirits. The setting will feel exclusive but is inclusive to everyone at the festival.
Finance industry “almost lawless”, says Toscafund
(Reuters): The financial services industry is practically "lawless" and needs better regulation of individuals entering the sector, a partner at Toscafund, one of the UK’s most high-profile hedge fund firms, said on Monday. Savvas Savouri, partner and chief economist at Toscafund, has called for tighter scrutiny despite a wave of recent regulation tackling bank capital requirements and bonuses as lawmakers try to avert a repeat of the credit crisis. "Finance is almost lawless. The nature of regulation is so light touch that it may as well not be there at all," Savouri said at the London School of Economics’ Alternative Investments Conference.
"It (the financial services sector) is like medicine in the 18th century — it’s full of frauds … and is very poorly regulated… You need to be that much better (than your rivals) if you don’t perform underhand or insider trades."
Parents assail malpractice caps after daughter’s death
(Los Angeles Times): Limits on payouts made it hard to find a lawyer when Olivia Cull, 17, died after a routine procedure. And the couple settled their lawsuit before all the information they wanted was revealed, her mother says. The story of Olivia’s death was presented to Congress a few days ago, among cases cited by patient advocates pushing to lift the caps on damages for medical malpractice lawsuits. Physician groups say caps limit frivolous lawsuits that can drive good doctors out of business. But patients and their families argue that limits on payouts diminish accountability, making it hard to find lawyers to take cases and force full disclosure from doctors.
Premier’s daughter passes
(CNS): Update Thursday 9:55pm – Messages of condolence have poured into the CNS comment board for the family of Tonya Yvonne Anglin, daughter of Premier McKeeva Bush and his wife, Kerry Bush, who died Tuesday morning. The messages have come from friends and family, including the Cayman Islands honorary consul to Barbados and local businesses and government entities. The governor, the deputy governor and the speaker of the LA have released public condolence messages, as have the chief minister of Montserrat, the acting premier of BVI and the secretary general of CARICOM. Tonya, who was just thirty years old, leaves husband Chet Anglin and daughter Zariah. She died at home and was pronounced dead at 8:30am Tuesday.
"The premier, Mrs Bush, and the family, appreciate the prayers and support of the country during their tragic, difficult loss," a statement from the deputy premier’s office said. "As they cope with this, they also appreciate the public’s understanding and consideration of their need to have an initial time of private mourning."
A statement from the Governor’s Office said Duncan Taylor and his family were deeply saddened to hear of the tragic passing away earlier today of the premier and Mrs Bush’s daughter Tonya and sent their sincere condolences to the Bush and Anglin families. "Their thoughts are with them during this sad and difficult time," the statement said.
Deputy Governor Donovan Ebanks also released a message to the bereaved families: "The public service is deeply saddened to have learned of the passing of the daughter of the Honourable Premier and Mrs Bush. On behalf of the whole public service, we wish to extend our deepest condolences to The Honourable Premier, Mrs Kerry and the rest of the family. We are all numbed by this shocking news. Death is the only certainty in life, but far too often it sneaks upon us when we least expect it.
"I believe that those of us who have been blessed with children will all agree that they redefine the real meaning of ‘love’ – regardless of what we thought that word to mean before they arrived. And while most of us are blessed to not have had the experience of losing a child, I also believe that it is truly the greatest loss that one can experience. I would urge us all to hold up this family in our prayers at this time, and pray that the good Lord will see them through these darkest days,” Ebanks said.
The Office of the Chief Minister of Montserrat, Reuben T Meade, sent the following message: “It is with an overwhelming feeling of sadness that I extend deepest sympathies to Premier the Hon. McKeeva Bush, OBE, JP, and his wife, Mrs Kerry Bush on the sudden passing of their daughter Tonya Eyvonne Anglin. We in Montserrat also share the grief of the husband and young daughter of Tonya and recognize that a loss at such a tender age as Tonya is unfathomable. On behalf of the Government and people of Montserrat please accept our condolences and be assured that you and your entire family will be in our prayers.”
Ambassador Lolita Applewhaite, Secretary-General of CARICOM sent these words to the bereaved family: “On behalf of the Caribbean Community (CARICOM), I wish to extend heartfelt condolences to you and to your family on the passing of your beloved daughter, Ms. Tonya Eyvonne Bush-Anglin.
The thoughts and prayers of the Caribbean Community are with you and your family during this difficult time. The loss of one so young and so vibrant in the Caymanian community creates a void that is difficult to fill, particularly to her husband Chet and daughter, Zariahr and to her parents and sibling. Once again, the Community conveys its deepest sympathies to the Anglin and Bush families. May her soul rest in peace.”
In a letter sent Thursday, Acting Premier of the British Virgin Islands Dancia Penn wrote: "It was with sadness that I learned of the sudden passing of your only daughter, Tonya. The Government and people of the Virgin Islands extend our sincerest condolences to you and your dear wife, Kerry, during what must be a most difficult period so early in this New Year."
The Acting Premier stated that the Premier Honourable Ralph T. O´Neal, OBE, is also "saddened to learn of this heartbreaking news". Honourable Penn asked Premier Bush to convey condolences to his daughter´s husband, Chet Aglin, young daughter, Zariah, and the rest of the family. She ended the letter by stating, "On behalf of the Government and the people of the Virgin Islands, please accept our sympathy and rest assured that we will keep you and the family in our prayers during this time of great loss."
Speaker of the House, Mary Lawrence, and members and staff of the Legislative Assembly said: "We mourn with you today the sudden loss of your beloved daughter Tonya. We pray that God’s peace and love will surround you and the beautiful memories you have of her, will bring comfort to your hearts.
We extend our sympathy too to her beautiful young daughter Zariah, her husband Chet, her brother Barry and his family, her grandmother Mrs. Faith Bush, and all the other family members and friends who were privileged to know this special young woman and share in her brief life. May God bless you all."
Athletes asked to sign up for Thursday’s meet
(CIAA): Following the first district meet held in West Bay last Saturday, the Cayman Islands Athletic Association will hold a Development Meet on Thursday, 27 January, at the Truman Bodden Sports Complex starting at 6:00pm. This meet is to accommodate the older age groups and to offer some events that were not contested at the district meet. All athletes are invited to come out and participate in preparation for upcoming meets. Age groups eligible to compete in this Development Meet are: 13-14, 15-16, 17 and over. Events to be contested are: Long Jump, High Jump, Shot Put, Javelin, Discus, 100m Hurdles, 150m, 300m, 600m and 1000m.
Registration forms can be downloaded at the link below. They are also available at the schools or by contacting Coach Kenrick Williams 925-4763; Coach Tyrone Yen 925-6917; Meet Director Harcourt Wason at 916-6966 or Elizabeth Ibeh at 925-4763.
Foodies delight at Cayman Cookout 2011
(CNS): Cayman Cookout 2011 brought a string of well known favourite TV chefs to Cayman last week for a long weekend of celebration in the art of wining and dining. International chefs Charlie Trotter, Rachel Allen, José Andrés, Anthony Bourdain and Susur Lee joined forces with celebrity chefs a little more known to Cayman – Eric Ripert who has his own Blue by Eric Ripert restaurant at The Ritz-Carlton and Dean Max, consultant chef to The Brasserie.Although a pull for overseas visitors, the events also drew a fair number of local food lovers as well, keen to take part in a unique opportunity to get up close and personal with their favourite chefs. (Photos by Dennie Warren Jr)
The first event to kick start the weekend was a charity wine auction held by Jacques Scott at The Ritz-Carlton’s Seven restaurant, raising around US$65,000 split equally between two charities – the Blue Iguana Recovery Fund and a Ritz-Carlton scholarship to a first class culinary school in the United States.
Irish Chef Rachel Allen proved that her Gaelic charm was natural and not just made for TV as she wowed her audience on Seven Mile Beach for the first of three days of cookery presentations. Attendees that evening to the Surf and Sandcastles kick off celebrations saw all the celebrity chefs kick their shoes off, roll up their sleeves and take part in a mass display of their cooking prowess while admiring the superlative sandcastle decorations that abounded.
Wine lovers were also treated to sessions with the experts, Ray Isle and Anthony Giglio, as well as talks with the winemakers themselves, including Heidi Peterson Barrett, who is credited with making the most expensive wine in the world – Screaming Eagle – which once sold at a charity auction for US$500,000 for just one bottle.
Although held predominantly at The Ritz-Carlton, the event drew in many top notch restaurants on the island, with lunches and wine dinners on the Friday and Saturday at Bon Vivant, Grand Old House, Luca, Abacus, The Brasserie, Michael’s Genuine and Ortanique, spreading the economic benefit of the event further than merely the hosts.
The weekend culminated on Sunday with a brunch at The Ritz-Carlton’s ballroom that attracted hundreds of mainly locals to watch Fraser Hughes and Tessa Gall battle it out in the finale cook off.
Although both amateur chefs pleased the judges with their cooking skills (and ultimately tied for first place, winning a trip to New York) they both might want to hone their lobster-killing skills, as the judges (Eric Ripert, Anthony Bourdain, Susur Lee, José Andrés and the Governor Duncan Taylor – see photo below) watched on with their faces in their hands as the lobsters for their dishes were inexpertly slaughtered. Enough to put you off lobster for life.
The finale gala dinner was the highlight of the weekend, with celebrity chefs again pulling out all the stops to provide a first class dinner at Eric Ripert’s Blue restaurant. Attendees will no doubt be hitting the gym hard in anticipation of Cayman Cookout 2012.
