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In my opinion the management makes the biggest difference and as you know some of the banks oftenly have some portfolio with investment but it depends on the regulation. The biggest difference is Lee Chin did his homework but even he still took a big hit in the recent downturn.
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- Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.
- Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.
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The real problem is the potential mismatch between assets and liabilities. It can cause a liquidity episode, as happened in the past.Comment
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But Lee Chin's holding company is not a bank. When banks take short term deposits and invest in long term risky projects it can have serious and far-reaching implications.
There is a difference between what Lee Chin is doing with investments and what NCB as a bank does. If Flow or whatever he is currently invested in goes bankrupt, big deal. If NCB cannot cash checks that is a different story."It is easier to build strong children than to repair broken men" - Frederick DouglassComment
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No... it was Economic malpractice by the PNP.. yuh not paying attention..
Dem really need to get that FINSAC report out.. people still confused..Comment
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Sagicor Life Jamaica is a Bank ???Comment
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But how do you make it also that people who invested their lives in the industry that they knew and grew also were severly affected. Companies like Thermo plastics, and Keeble Munn in Coffee to name a few.
As Willi said many may have over extend but also the change in the economic environment also plays a big part.- Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.
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- Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.
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Oh definitely, I am not blaming them for the collapse, they may have played a part but the environment had more to do with it. Nor do I necessarily think we need laws in place to prevent them from investing as they are doing. The authorities need to be very vigilant though and make sure they do not overreach."It is easier to build strong children than to repair broken men" - Frederick DouglassComment
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new laws mabye needed but the problem with Jamaica is that new law/old law don't get followed and big men get around them. We sit in forum like this and think who is guilty but the authority let people off the hook by not investigating or taking payoffs. An example is how can we not have a cash plus trial yet?Last edited by Assasin; February 24, 2013, 10:35 AM.- Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.
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- Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.
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Like Zeeks and him $24m?Comment
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A more detailed version. It seem like they have a fund directly for this Iman and they may have gotten a good deal. Are they now able to turn this property around?
http://jamaica-gleaner.com/gleaner/2...business2.html- Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.
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- Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.
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I am sure they got a good deal. No competitive bidders, sellers probably frustrated. You nuh see how quick them close the deal, LOL.
The location suits them well too."It is easier to build strong children than to repair broken men" - Frederick DouglassComment
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