Bermuda has boomed as an international business centre due to the critical mass of decision makers in the insurance sector and related fields that worked here. So the PLP, in all their glory, came up with the brilliant idea of placing “term limits” on how long those business leaders could stay on the island. This [...]
Entries Tagged as 'Business'
Well, that didn’t end up so well
September 16th, 2011 · Comments Off · Bermuda Politics, Business
Tags:
Premier Admits Fault
July 8th, 2011 · Comments Off · Business
The Premier has just announced that expatriates in certain “key positions” will soon be exempt from work permits and eligible for a faster track to permanent residency. A move in the right direction, but sadly it’s a little late. Anyone who works in international business can confirm the mass exodus that has occurred from Bermuda [...]
Tags:
Public Accountability Act
July 1st, 2011 · Comments Off · Bermuda Politics, Business
The PLP’s urge to spin is overwhelming. This morning Paula Cox tabled the Public Accountability Act in the House. On the surface, this sounds phenomenal … because we all know our Government needs to be more accountable to the public! I mean, where did that billion dollars go? Except that’s not what it’s about. The [...]
Tags:
Making Bermuda Relevant Again
December 1st, 2010 · Comments Off · Business
Executives from the international business sector typically keep their mouths firmly shut on local matters. The risk of repercussions is too great. They grin and bear it, until they can’t. And then they leave. So, it’s refreshing to hear Evan Greenberg, chairman and chief executive officer of ACE, speaking out to the Royal Gazette: “When [...]
Tags:
Folly of Term Limits
November 17th, 2010 · Comments Off · Business
The issue of term limits has been a major irritant for international business in Bermuda. Term limits have caused untold bad blood and have damaged our business sector, with crippling implications on our tax base and the local economy. And Government today has at last been honest. The whole programme is xenophobic window dressing. In [...]
Tags:Term Limits
EEZ
November 14th, 2010 · Comments Off · Business
Government created its first Economic Empowerment Zone (EEZ) in Northeast Hamilton a few years back offering incentives to small business to locate “uptown”. The incentives include payroll tax concessions, customs duty deferment, access to mentoring from the Bermuda Small Business Development Corporation, as well as potential access to small business loans and even some outright [...]
Tags:
Can You Hear Me Now?
November 1st, 2010 · Comments Off · Business
Premier Cox last week reaffirmed her support for the term limits policy that has been such a sticking point for international companies located here. This is a mistake. These companies depend on longevity of their senior people. If they can’t retain them here, then they will retain them elsewhere … with the resulting shift of [...]
Tags:
Chattering Classes
October 19th, 2010 · Comments Off · Bermuda Politics, Business
Governments around the world have a tendency to dance to the tune of the “chattering classes” … the minority of vocal political activists that dominate their party, often drowning out the desires of the much larger “silent majority” of the country. This is certainly the case of Bermuda under the PLP, and even more so [...]
Tags:
Drip Drip Drip
October 1st, 2010 · Comments Off · Business
Big Bermuda name AWAC has joining the pack of companies re-domiciling to Switzerland. But everything’s OK here. Really. This exodus began in 2007. And the PLP has tried suuuuper hard not to be antagonistic since then. At least in part, we have ourselves to blame.
Tags:
DC After Our Shorts?
June 28th, 2010 · Comments Off · Business
Dr. Brown is hot on establishing tighter relations with Washington DC, even establishing a local office to keep an ear to the ground. Sooooo, presumably Government is up to speed on the following proposal, which is being floated by DC City Council Council chairman Vincent Gray and others. Namely, they propose that the US Congress [...]
Tags: