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2013
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May
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- Digicel Launches Exciting Campaign In Support Of T...
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15 comments:
To aid the offshore FDI sector, Government should temporarily reimburse costs to those who are successful in CGA and ACCA.
Can someone please explain this "debt equity" amalgam that the PM keeps referencing in regards to WASCO? It appears not to be related to the debt-to-equity ratio.
Howevr tightly the fiscal belt is cinched at the waist of the economy, care must be taken not to strangle these three angels of national integrity - Education, health and commumnity services and employment.
An educated citizenery will remit dividends of great magnitude. Therefore, funds must be allocated withoug prejudice, to strengthen the intellectial capacity of all students. Such intellectual gains will remit even more to the island's economic vibrancy if provision is made for an equally vibrant employment initiative; both for graduating students and for all sectors of the population.If the people are employed ( with decent wages ) the boat will float.
The benefits and significance of allocating sufficient funds for maintaining health and community social services are obvious.
It is true, the slice of bread may be small, never-the-less, if it is judiciously divided, every tongue can have a taste and the national house will whisper, " Merci bon dieu. "
"...[D]ebt equity" amalgam? What the hell is that?
I think that he is into his recitation again! But what he may be reading really is "debt-equity" or "debt/equity".
The person who wrote originally that section of the budget recitation must have written "debt-equity" mix.
But to the actor on stage, the word "mix" is the same thing as "amalgam". And hence the substitution may have been made.
To the initiated the words debt/equity or debt-equity "mix" or "ratio" shows great command of the KEY issues surrounding the financial management, and ultimately performance measurement or index, and financial health related to a business entity.
Others can take a bow after the curtain drops, to show that it is time for a polite round of applause for a good recitation of the written word.
The word amalgam was my own, which is why it was not quoted. Had I not been distracted, I would've heard him describe a debt-equity swap with respect to WASCO.
How does one see equity in a debt-laden entity that has "never been viable"? If WASCO is indeed insolvent, as the PM suggests--with total liabilities greater than total assets--where exactly is the equity? Isn't equity calculated as total assets - total liabilities?
Or is equity, in this case, just another word thrown around to indicate ownership? Also, if WASCO is not entirely privatized, is it another public-private hybrid? If so, then doesn't the GOSL already have a stake in its assets?
A debt to eguity swap in WASCO without total remodeling (management/ operation and infrastructure) is equivalent to JUNK bonds.
Which development partner will come into this WASCO politics?
A = L + OE
Now if we switch the L over to the LHS of the equation, we get this:
A - L = OE
If the Assets (A) are greater than the Liabilities (L) of the company, then there is equity (OE) to be had -- at least on paper.
What kind of valuation might we put on the company? Due diligence anybody?
Anyway, this is not the first time that the debt-equity swap idea has been floated.
But the debt-equity swap perspective means that those who the company owes (or is indebted to) can be encouraged to convert what would be now some of their poorly performing A/Rs with the company on their books (or written off entirely taking a charge) into ownership shares.
I do not know that the Authority is an open company (i.e., its shares are publicly traded). Therefore, those who buy shares in the company under the current ownership structure will be stuck with those ownership shares. And that is irrespective of whether the company makes a turnaround or not.
Perhaps too, the option of having a strategic alliance has not been made attractive enough.
However, any privatization would most likely see a demand by the company taking control, for a guaranteed rate of return on (say) working capital, since it is a utility company.
With the lessons in disaster creation that was Margaret Thacher's wrong-headed privatization initiatives, privatization does not however guarantee, in any shape or fashion, a more dependable water supply.
Rather, the only major change that we might well see, would be serial rate increases to capture the target rate of return.
Quite Frankly..That was a very sorry Budget presentation.
NOTHING NEW.
We have to cut cost but we need to open new agencies. Hmmmm I wonder if they run themselves.
Consultancies 5 Million
Communications 11 Million
Travel 750,000 but that is nothing?
St.Jude was $36 Million but now costing $154 Million.
Oh my Oh my.
St Lucia is in for a rough ride. Our leadership is lacking.
Saint Lucia is in dire need of someone who has a vision back up by a native knowledge of economics, business, and management.
SLP is now a caretaker government.
We will have to make do until something better comes along. I don't know when. The opposition DOES NOT show any promise of bringing some UNTRIED person to the forefront.
Saint Lucia is therefore condemned to same old sh*t, but different day.
Saint Lucia is looking for meaningful and knowledgeable leadership.
No progress can be expected when people don't know what to do.
The country is now again under the SLP on autopilot. Let us pray for a soft landing.
Since the equity in WASCO so far remains elusive, I suppose the formula being utilized is thus:-
(A)WASCO Infrastructure - (L)$32M = (-)We're not sure what but let's assume it's equity (OE).
I'm also hearing talk of the use of ground water and exploration for natural gases. I really hope that's nothing more than desperate pillow talk.
Several states in the US are reeling from the effects of fracking on their ground water systems--a high incidence of cancer and flammable "potable" water not among the least of their concerns. Our two-bit island cannot deal!
BULL-SHITTERS. ALL OF THEM.
MAY 15 AT 6.50pm i COULD NOT HAVE SAID THIS ANY BETTER. THANK YOU.
We are tired of hearing that "things are bad". It is a known fact.
The question is what are we going to do to change that? The answer is not in taxing our already financially unable people. So where are the educated idiots we have here posing as "do gooders" for the country?
The fact of the matter is that St Lucia is really struggling. No job, no money and a government who is willing to suck the life blood of our people. What can we do to reverse that situation? Can somebody tell me?
None of our Finance Ministers have ever shown any kind of leadership regarding their portfolios. Tell me which one has INITIATED a regional or national conference on something as critical as "compliance"?
Now why did not the IMF tell the novices in the Ministry of Finance that it was necessary to put measures in place to ensure the capture of the necessary VAT revenues in this supposedly new tax system?
The officers, senior-, mid-, and lower-level, of the Ministry of Finance need training.
Their skills are way-y-y-y-y-y below par, to deal with the changes wrought by the relationship between Saint Lucia and its agreement to join the IMF's WTO.
The CSA today, cannot even effectively negotiate terms of agreement regarding work for the civil servants.
Our learned Prime Ministers, on the other hand, are always going around the world, chests all puffed up, signing documents and agreements here and there, that they do not fully, nor care to understand before signing.
In the end, with the burdens to be carried falling squarely on the shoulders of a hapless population instead of on theirs though, plus a Cabinet brimful with supine eunuchs, yes-men, broomsticks, morons, and idiots, we wind up seeing that the "Emperor has no clothes"!
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