Archive for May, 2011
CCRL selling Cayman arm of Reggae Money Express
(CNS): According to reports in the Jamaican media, Capital Credit and Remittance Ltd is selling the Cayman branches of its money transmission centres ‘Reggae Money Express’. It is not clear which entity is ready to purchase this arm of the firm but reports suggest it is a Cayman Islands’ based company which will be buying up the business. CCRL offers money transfer services in five locations in Cayman as well as more than 78 centers in Jamaica and the wider Caribbean. Andrew Cocking, CEO of CCRL’s parent company, Capital and Credit Financial Group (CCFG), told the Jamaican press that the decision was made to sell the Caymans businesses in order to minimize operation costs.(Photo Dennie Warren Jr)
“The entity we are talking to sees it as a positive synergy for themselves because they are also in the Payday loan business,” Cocking said.
With Western Union dominating the money transfer market, CCRL hasaround only one percent of the market share. Statistics from the World Bank recently said remittances were on the rise in Jamaica, Haiti and other countries after sinking by 12 percent in Latin America and the Caribbean.
McLaughlin sticks by motion
(CNS):The leader of the opposition will not be changing the wording of his no confidence motion against the government and the premier because of the requirements of the constitution. Following calls from the wider public and his former Cabinet colleague, Charles Clifford, to focus the private member’s motion on McKeeva Bush rather than the entire government, Alden McLaughlin said the new constitution specifically calls for a lack of confidence in the government. He explained that the structure of government had changed to a full ministerial system rather than the hybrid which had existed previously and as such it is not possible for the House to vote to revoke the appointments of individual ministers, including the premier. (Photo Dennie Warren Jr)
The former tourism minister wrote to the opposition leader this weekend offering his support for the motion to oust the government from office. However, Clifford suggested McLaughlin change the wording to give the motion a greater chance of success. He said that the government ministers were unlikely to vote against themselves but he believed at least two Cabinet ministers, though he did not name them, would be likely to vote against the premier as he was “operating as a one man show”, and those minsters could probably bring two backbench members with them.
“I believe that it is true that the majority of people in the country do not have any confidence in the UDP government. It seems equally clear to me that none of the Cabinet ministers will vote against himself or herself as a member of the government and it is unlikely that you will garner the support of all four backbench members of the government,” he said as he recommended McLaughlin amend the motion so that it calls for the Legislative Assembly to specifically declare a lack of confidence in Premier McKeeva Bush.
“I know that all of us would prefer to not be facing such a proposition at this point in time but it should be clear to all that this option, while not ideal, would bring some level of stability and credibility back to our government and country,” Clifford said. “The bottom line is that we cannot sustain two more years of Premier McKeeva Bush’s dictatorial leadership and flawed policies.”
McLaughlin noted, however, that with the 2009 constitution the premier has real responsibility for ministers, including advising the governor on their appointments.
“The governor is required to revoke the appointment of the premier if a motion that the Legislative Assembly declares a lack of confidence in the government receives the support of at least two thirds of the elected members,” he said. At that point the governor can either appoint another member as premier, or if no other member has the necessary support, dissolve the LA without revoking the premier and call new elections, he explained. Once the premier’s appointment is revoked, the other ministers also lose their offices.
“But it is not possible for the House to vote to revoke the appointments of individual ministers,” McLaughlin added. He also noted that the current Standing Orders do not and cannot override the constitutional provisions.
Although Bushwas in London this week for the royal wedding, in his absence the remaining government members publicly offered their backing to Bush as leader of the government at a press conference on Thursday morning. However, Rolston Anglin, who was acting premier since the deputy premier had been hospitalised as a result of high blood pressure, said the motion would be debated in the Legislative Assembly. He said it was nothing more than a cynical grab for power and an attempt to distract attention from the current government’s success in stabilizing the public finances.
McLaughlin filed the motion last week listing 24 major points as to why the country no longer had confidence in the UDP government some two years into its term. Most of the points were as a result of the actions of the premier, and although the motion will in all likelihood be voted down, it will force the members of the House to discuss and defend the premier’s decisions and actions in a public forum.
Anglin dismissed the motion as a grab for power but McLaughlin noted that it could hardly be described as such since the success of the motion would result in the call for a general election and the need for him to give up and fight again for his own seat.
It is not clear when the motion will be debated but this Friday’s date for the re-opening of the Legislative Assembly has been postponed until the middle of the month.
Vote in CNS poll: Do you support the leader of the opposition’s no confidence motion against the government
See motion attached.
Woman stabbed by relative as she slept
(CNS): A 62-year-old female is recovering after being stabbed in the neck while she was sleeping in the early hours of Sunday morning in her own bed. It is understood that she was attacked by her 32-year-old daughter, who lives in the same household in West Bay. Police said they received the report around 2am on 1 May. The alleged attacker was arrested and remains in custody pending enquiries, police stated in a release. The victim’s injuries were not deemed to be life threatening and the incident is under investigation by the CID Department.
US forces claim to have killed bin Laden
(CNS): The United States government claims to have the body of Osama Bin Laden after operations on the ground in Pakistan President Barack Obama made an announcement at around 10:30pm Sunday evening that US forces had killed the world’s most wanted terrorist and the mastermind behind al-Qaeda. The US president said bin Laden was killed during a firefight with special forces at a compound north of Islamabad. He said that justice had been done and it was "the most significant achievement to date in …effort to defeat al-Qaeda". The US has put its embassies around the world on alert, warning Americans of the possibility of al-Qaeda reprisal attacks.
Bin Laden was believed to be responsible for the 2001 terrorist attack on US soil that triggered the war on terror.
The world’s ‘most wanted man’ had evaded the US and its allies for nearly a decade, despite a $25m bounty on his head.
The US president explained that he had been briefed last August on a possible lead to Bin Laden’s whereabouts.
"It was far from certain, and it took many months to run this thread to ground," Obama said in his special Sunday night address.
DoE reminds public of penalties as conch season closes
(CNS): The opportunity for people to take conchs and whelks from the ocean is now over and anyone found poaching or purchasing the sea creatures could face tweve months in prison, a half million dollar fine and have their boat seized. The Department of Environment (DoE) reminded the public that the closed season for conch and whelks started on Sunday1 May and runs through until 31 October 31. No one may take conch or whelks from Cayman waters , or purchase, receive or possess conch or whelks taken locally during these months. Contact the DoE at 916 4271 (Grand Cayman), 926 0136 (Cayman Brac), or 926 2342 (Little Cayman) or call 911 to report violations of any marine conservation legislation.
Vist the Department’s website at www.doe.ky for more information on marine conservation in the Cayman Islands.
Man injured in street robbery
(CNS):The victim of a street robbery on Saturday night received a wound to his head that appears to have been fired from a pellet gun. Police said on Sunday that the victim who chased after two men who had taken his wallet and jewellery, after threatening him with a machete received an in oval shape wound to his forehead after he heard an explosion. The robbery reportedly took place around 10pm last night in the area around Archie’s Bar and Funky Tangs. Police responded to an anonymous caller who stated that they had observed four young boys with masks on Sheddon Road. (Photo Dennie Warren Jr)
When the police arrived they discovered that a male victim had been robbed by two men who held machetes to his neck while they stole his wallet and chain. The male victim then chased the robbers when he heard the explosion which resulted in the injury to his head.
One of the men was described as being around 5’ tall and the second about 5’7. Both were dressed in long blue jeans and white t shirts. Their faces were also covered with white t shirts and they both carried machetes. The second male was also reported to have carried a small black gun with a red ring at the front.
The incident is currently under investigation by officers from the criminal investigation department. Anyone who was in the area at the relevant time and witnessed this crime or the suspects fleeing the scene are asked to contact the George Town CID at 949 4222 or Crimestoppers at 800 8477.
No confidence
The country has lost confidence in Mr Bush and the UDP Government. Even those who voted for him at the last election realize that he is failing the country. Some of his ex-supporters criticise him openly. Those who want to speak out on his behalf can find nothing good to say about his achievements, so they rant against his critics and opponents.
In this time of global economic crisis leading to global unrest, all countries have great need of wise democratic leadership. Many countries that lack such leadership are already suffering terribly, both internally and externally, and it will be years before they recover. In Cayman we have the same need for wise democratic leadership, but the last two years have been a sustained demonstration of unwise undemocratic government.
For a while it was right to give the new government a chance, though some of us thought we knew what to expect. But nowit is frighteningly clear that this government is taking the country down the wrong road. There is no longer a rational basis for thinking it may get better.
After the 2009 election voters hoped that Mr Bush would fix our economic troubles. That was the big election issue. He had blamed our troubles on the previous Government, and said that he was the man to fix them. Many were taken in. They wanted to believe that there was an easy answer to Cayman’s troubles, and they were willing to give Mr Bush a shot at it. But they have been sadly disappointed. He has done nothing. No one feels better off. Many are worse off. Much has been said, but nothing has been done, for the short or long term future of our economy. Only the ostriches still believe his story about the previous government being to blame.
In fact Mr Bush made things worse – by shouting that the country was bankrupt, by imposing ill-considered tax-hikes which he was not big enough to reverse, by failing to put together a sensible plan to deal with the problems and dangers explained in the Miller Report, by playing about with the country’s borrowings (which he has still not explained) and claiming to know more about arranging high finance than his own Ministry or the CTC.
It was only public pressure that prevented him selling the new government administration building. His fiddling with the schools project has served only to delay it and add to the cost. He does not understand that this is the crucial investment for our country’s future. And there is no bigger waste of public funds than leaving a part-built project unfinished – or a completed building unoccupied.
His fiddling with the cruise ship berthing project has got us nowhere. It has shown many of the signs we now recognize from the Cohen fiasco: Mr Bush thinking he knows best or preferring the private advice of friends, jetting off to take personal credit, then having to backtrack, and failing to dispel rumours of improper inducements. And the country pays the price.
In the financial industry there have been good and bad developments, but the good ones are due to the efforts and outlay of the industry itself, and many hours of hard work by a score or more of unsung individuals. Tourism figures improve slowly, but again no thanks to Mr Bush or his government.
Mr Bush has said repeatedly that he will revive the economy; he even gave himself a deadline for announcing and implementing his plan. But everyone now sees that this was just talk. He hasno plan – only the hope that the global economy will recover in time to save his political neck.
He has announced several projects for diversifying the economy, a few of which do sound interesting. But he has made his usual mistake of trying to take credit for a project without giving information about it, without caring about the worries it creates, and without having an assessment of its feasibility, cost, or effect – on the economy or the environment. Nonetheless he struts about saying that he will make it happen. And then he is surprised and aggressive when people ask questions. He seems to think that people should stay quiet and trust him. But he has not earned trust. People do not even trust him, or his colleagues, to keep their hands out of the cookie jar. And nothing has happened.
Mr Bush’s view of democracy, accountability and the Constitution has been clear for many years for all to see. It is quite simple: he believes that power should be in the hands of one unaccountable person – himself. To mention only the most recent demonstrations: he is against one man one vote; he wants to roll back freedom of information; he will not publish, or expose to audit, the accounts of the Portfolio of Finance that would show the true state of government finances when he came to power in 2009.
Some suggest that the answer is a people-initiated referendum to remove Mr Bush from office, or the whole government.But that is a misunderstanding of the new Constitution. It allows referendums to impose decisions on the government, but not to change the Premier or the government. The people cannot themselves change the Premier or the government between elections, only the MLAs can do so. The people can only put pressure on MLAs to do the right thing. That is why the Leader of the Opposition has brought the motion of no confidence.
A motion of no confidence is a serious measure. It is not a political plaything to be fired off whenever the Government makes itself unpopular. But today Mr Bush is not just unpopular. He has had two years, and he has proved again that he is unfit to lead this country – at a time when the country has particular need for wise democratic leadership. Everyone wonders what will be his next foolish, embarrassing and harmful announcement.
We are seeing a replay of Mr Bush’s first UDP government in 2001-5 in which he demonstrated his unfitness as leader; he achieved absolutely nothing of value despite all the talk about decisiveness; and he showed how divisive a leader can be, creating and deepening divisions in our community which are still with us. His colleagues and backbenchers in the UDP, who had originally thought they would keep him under control (and had constitutional power to do so), proved to be incapable. Reluctant to give up power, or to risk it, they stuck with Mr Bush until near the end of his term, before breaking away. Of that so-called “united” team only Juliana O’Connor-Connolly and the three West Bayers stayed with Mr Bush. The others were right to break away, but they should have done so much, much sooner.
So now the question is whether Mr Bush’s colleagues and backbenchers in the present UDP government will do the same as those in the last UDP government. They can be in no doubt about the unfitness of Mr Bush to lead the country, or about their own inability to keep him under control. Will they put the country’s interests first? Or will they hang on to power? That is the question.
It is a vital question for the country. It is the reason why the motion of no confidence was necessary – to confront Mr Bush’s colleagues and backbenchers with the question, to expose them to public pressure, and to compel them to make a public decision for which they personally and individually will be held to account. Let us hope that the pressure is strong, and that the break-up comes now, before more harm is done.
UK doctor to offer heart tests during Cayman visit
(CNS): UK Cardiologist Dr. Prasad will be at the Grand Harbour Medical centre next week, from 2 – 6 May, working as a visiting specialist. Dr. Prasad worked full-time in Cayman for several years, and since that time has been a visiting specialist at Grand Harbour Medical, temporarily working alongside the centre’s full-time doctors, including Dr Stephen Pickering. As a consultant interventional cardiologist in the UK, Dr Prasad is able to review treatment plans, perform echocardiograms as well as stress tests, 24hour ECG, blood pressure analysis and sleep tests for Cayman patients.
If you would like an appointment with him, call Grand Cayman Medical centre during office hours on 949 4309.
Bankers and hedge fund managers vote down London
(FT.com): The UK is a less attractive place to work than other financial centres, according to investment bankers and hedge fund managers. Nearly half of hedge fund managers (47 per cent) and 45 per cent of bankers said employment conditions and prospects were worse than in other jurisdictions, according to a survey of the more than 9,000 members of the CFA Society of the UK. Will Goodhart, chief executive of CFA UK, attributed the negative view to “tax burdens and increasing regulation”. “The banking sector and some hedge funds [in the UK] believe they are under more government regulation and scrutiny than asset managers,” said Goodhart.
Fewer than a quarter of respondents thought employment conditions were better than elsewhere.
UN agency boss calls for end to corruption
(CNS): The UNODC Executive Director Yury Fedotov has called on public and private businesses to put in place urgent concrete measures to stem the tide of corruption. Addressing a conference in Paris the leader of the United Nation’s office on drugs and crime Fedotov said it is time for the G-20 to turn anti-corruption commitments into action. The event in Paris follows the commitments taken by G-20 Leaders at the Seoul Summit last November where the G-20 adopted an Anti-Corruption Action Plan that provides a common approach for the G-20 to lead by example in the global fight against corruption. It also recognizes that the private sector has an essential role to play.
"As recent events in North Africa and the Middle East have demonstrated, corruption has the power to shake the very foundations of society. Even in regions where peace and prosperity prevail, corruption takes a heavy toll", said Fedotov.
"The international community is grateful for the private sector’s support for the United Nations Convention against Corruption. But now it’s time for business to move beyond declarations to concrete actions. The private sector can play a key role to enhance accountability and transparency and to strengthen the global economy".
Fedotov presented four proposals on what the business community can do to eliminate corruption, according to a release from UNODC. The first was for the private sector to adopt anti-corruption policies aligned with the UN Convention against Corruption. The second was to establish a credible mechanism to review commitments to integrity. The third he said was to invest in strengthening public integrity in developing countries and invest in keeping corruption out of business supply chains.
"In October this year, the Conference of States Parties to the Convention against Corruption will meet in Marrakech, Morocco to take stock of global progress in preventing corruption. I hope that the private sector will use the months leading up to the Conference to develop specific policies and concrete steps to fight corruption," Fedotov added.
The G-20, established in 1999, is a forum for international economic development that promotes open and constructive discussion between industrial and emerging-market countries on key issues related to global economic stability. It encourages public-private partnerships and offers a significant opportunity for developing and implementing initiatives that engage the private sector in the global fight against corruption.
The UN Convention against Corruption is the first legally binding global anti-corruption instrument. It obliges States to prevent and criminalize corruption, promote international cooperation, recover stolen assets and improve technical assistance and information exchange.