Out a money, $76 million write off under the JLP

[Rockman]

My guess it is not a big issue or the question would be how could the finance minister at the time did not know,and why the unorthodox approach to begin win?
The case the JLP was making before still carries weight despite the embarrassing revelations...,right?

[Rockman]

It appears it isn't the act itself that is good or bad,it is a question of who did it that determines ....
Sound judgement out the window,remember the PM was criticized for not knowing the specifics,the finer details are to be known by the finance minister,what happened Audley Shaw?

[Assasin]

yep, that is what they are reporting. our government is too close to these entities.

[Mosiah]

if the provision/commitment was made under the previous regime in its role as government then really the decision was made under before and the current government is just fulfilling that obligation.

Precisely! But Lazie is too lazy and partisan to even consider this. It's easier to just cuss of the PNP govt.

[Gamma]

You partisan tuh but di odda way!

[Mosiah]

You partisan tuh but di odda way!

[Islandman]

Shaw says, OK you got me, but it is still PNP fault:

However, Shaw was asked, shouldn't the Outameni share write-off provision be public in 2011 when the JLP was in Government?

Mr Shaw said yes.

So then, where was the failure?

Shaw said for starters, it was under the People's National Party Administration in 2005 that the DBJ invested in Outameni.

[Mosiah]

Shaw says, OK you got me, but it is still PNP fault:

Lol! Is Manley fault!

And wasn't it Seaga who founded the DBJ in 1962?!

Let's just blame everything on Christopher CWooiie for discovering Jamaica! Wooiiee!

[Shola]

The initial 76 million investment of preference shares was made by the DBJ under the pnp government in 2005. The business was not profitable, there were no prospects for dividends and the jlp govt in 2011 initiated the process of writing that loan off. This was completed in 2013.


With all that said, was it a smart move by the NHT to buy outameni which was obviously a failing business. The answer to that question in a Jamaican context is dependent on which party you are affiliated to.

[Willi]

The best comment made in this thread so far!

[Don1]

The initial 76 million investment of preference shares was made by the DBJ under the pnp government in 2005. The business was not profitable, there were no prospects for dividends and the jlp govt in 2011 initiated the process of writing that loan off. This was completed in 2013.


With all that said, was it a smart move by the NHT to buy outameni which was obviously a failing business. The answer to that question in a Jamaican context is dependent on which party you are affiliated to.

NHT = Termite Piggy Bank... They seem to believe they "own" the agency becuz it was a Manley creation

[Gamma]

we have "found some money" ... i remeber portia saying that ... i thought it weird at the time ... little did i know.