Finsac's ruined lives

[Mosiah]

Sass, difficult having a discussion with you because you accuse me of responding to a question with a question and all now mi nuh see fi yuh question.

mi dazed and need fi go liddung.

[Mosiah]

and they did not know this when they went into business?

[Jawge]

Sass you have been exposed again (same with
you views on tightening imports in a time of global market)

Sass if you made expenditure for 1800 and only 532 were bought, are saying Omar is to be blamed? Can't you see disaster for this person? They said they were the only one in the region: why didn't they sell some at cost to break even and remain viable? Why didn't they try to adjust in renegotiations in order not have this huge bill sitting in their laps?

Watch the documentary life and debt and you will that we don't have a clue about competing globally. Yuh nuh see nothing yet; the elite that controls certain industries in Ja days are numbered. Why? they didn't make sure the profist were spread in away that Ja could have something that resembles a middle class. Now all is almost lost the only card left is a civil rights bill.

[Karl]

Imagine if they had borrowed from a bank and paid a reasonable 5-10% as oppose to 20-30% over a 15 year period. You can image how much better off they would have been?

You are "all mixed up"!
If you borrowed at your 5-10% and the note is bought or moves to another institution the contract for payment (the conditions on the note) remain the same....i.e. 5-10%!

You would have to renegotiate to effect any change on your note. No new financial entity can "jus suh" change your note (i.e. terms under which you borrowed...the note you signed/entered into contract with the original financial institution on...remains the same! ).

damn a wonda iffen dem a tell di people seh di terms unda which dem di barraw change wen dem note guh a nedda bank? ...and any bank actually changed the note on/got a new note signed by unsuspecting victims? ...damn?

[Assasin]

sorry a think the thread them too much.

a my fault, a dun below me did ask di question still

The question is should government policies take some a the blame?

[Muadib]

NCB, CENTURY, TEXAS MAN... same ting.

30 cents on the head !

MOOOOOoooooo !

[Mosiah]

Not if Omar flipped the script.

[Gamma]

karl...i think i posted the negril negril holdings case on here....did you read it?

clearly you have no idea what was taking place!

[Jawge]

Sass Govt. policies has nothing to do with the fact that your business
was unable to sell less than half the product negotiated in a contract. Don't tell me that you wanted tax payers to bail out this guy. In this glbal market one has to be nimble. In Ja we tend to overlook the importance of information; once the purchasing firm knows that he went into production
for the 1800, they had him by the balls. They already knew he had no other market for the products. They came with spec changes. If I were the CEO I would meet them halfway with the spec. changes just to offload the 1800 and break even.

Why do you think corporations here spend millions on IT for data security? The betty story explains why. I may have to open a consulting firm in Ja

[Muadib]

Unnuh don't get Profound !

If yuh bawn Black inna Yard and yuh puppa or mumma nuh have a trust fund fi yuh, yuh have these 'viable' options:

1. Straight Tief
2. 9-5 (Private Sector)
3. Safest option 9-5 Public Sector

Nuhbaddah wid di borrow money and talk about going into productive business.. ah nuh suh di ting SET !

If yuh try to be profound next ting yuh know Texas man have yuh inna shackles !!

Yuh can bawl all yuh want.. all wi ah guh hear is:

MOOOOOOOOoooooooo !!

[Assasin]

Mo Mo Mo come eeeeeeeennnnnnn

question deh yah fi you

[Mosiah]

for a cat, yuh have a strange meow.

[Assasin]

Do you see where i said anything about tax payers bailing him out?

How did that come about? Can yu explain what data security have to do with it? I guess Bear Sterns never have data security or countrywide?

It is the nature of business to fail at sometimes however it is the role of government to provide an environment that companies can thrive in, just in case you didn't know.

[Muadib]

I would think being able to read and comprehend would be neccessary to operate a consulting firm...

"As a result, the light and power company decided to buy only 532 of the close to 1,800 transformers, and naturally that placed us in a precarious position with the lending institution. In the meantime, the lending institution crashed and my loan was transferred to another commercial bank, but with the purchase of the 532 transformers I had been able to service the loan. At the time that Finsac came into the picture, my loan balance was approximately J$12 million.

"It was 1997 when I became a victim of Finsac. By the time the Texas firm bought the debt from government, I was told that what I owed was $44 million. After negotiation, we finally settled on a figure of $50 million, which included interests and other charges. The contract was drawn up. I was to pay an initial lump sum, and the balance in payments over a period of time. Little did I know that the nightmare had just begun.

"When the contract was returned for signing, I noticed that there was a clause on the back of the document that stipulated that five years after the completion of payments, the overseas entitiy had the right to claim whatever might have been omitted from the contract. I realised that the clause was untenable, so I objected, and they agreed to take it back to Texas for review and for possible modification.


Sounds like an old advertisement for a Caribbean Cruise leaving the shores of the Ivory Coast....

[Karl]

karl...i think i posted the negril negril holdings case on here....did you read it?

clearly you have no idea what was taking place!

Do not remember that one. Could you post again or better yet point me to the link?

...although how would that relate to what Betty Blaine wrote on that 'planning for 1800 unit production...with a 532 unit sale?