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SIMON COOPER: Don't always rely on their goodwill

If you buy a business for sale that is an inactive shell, then its value is its depreciated assets - less a deduction if its reputation is shot (perhaps we should call that ‘bad will’ to be consistent).

Bahamas Waste shrugging off' squeeze' via 100% profit rise

Bahamas Waste yesterday expressed confidence it would generate a 100 per cent net income increase for the 2012 full year, despite experiencing a margin increase caused by key equipment costs more than doubling.

NAD suffers $13.94M bottom line reversal

Despite suffering a $13.941 million bottom line reversal that dropped it to a net $6.172 million loss for its 2012 financial year, the Nassau Airport Development Company’s (NAD) chief executive said it was still creating “an ideal gateway for the Bahamas”.

LPIA reduces energy consumption by 15%

The Lynden Pindling International Airport (LPIA) reduced its energy consumption by just under 15 per cent during its past financial year, as it moves to become “a truly first class facility”.

BAB: 'Offensive' to learn of NIB rejection via media

BAB Holdings’ principal yesterday said the company found it “offensive” to learn that the National Insurance Board (NIB) had decided not to participate in its $10 million private placement issue via the media, rather than informing it directly.

NIB split over $10m BAF parent's offering

Top BAF Financial executives had “no knowledge” of internal battles at the National Insurance Board (NIB) over whether it should fully take-up their parent company’s $10 million preference share issue.

Executive Entity eyes 'big global take-up'

There could be “a lot of international take-up” of the Bahamas’ Executive Entity product if a Guernsey-based provider’s interest in using it comes to fruition, Tribune Business was told yesterday.

Developer moves on 'alarming' 5% mortgage buyers

A New Providence real estate developer yesterday said a newly-launched in-house financing initiative was “getting good traction”, as it bids to solve an “alarming” situation where just 5 per cent of its buyers are obtaining mortgages.

Bahamians in win column on Goombay Splash ITF Junior Circuit

WHILE Kevin and Philip Major Jr both breezed through their first round matches in the main draw of the Goombay Splash ITF Junior Circuit Tournament yesterday, Danielle Thompson was taken to the limit before she prevailed with a victory to lead the Bahamian attack at the National Tennis Center.

Roads overruns $300m due to business impact

The New Providence Road Improvement Project’s so-called ‘cost overruns’ really total $300 million when the impact on affected businesses is factored in, a former leading retailer believes.

Cable endures 'painful' 50% energy increase

Cable Bahamas has been forced to endure a “painful” 50 per cent year-over-year increase in electricity costs, a senior executive yesterday saying 2012 revenue and profit growth had been driven largely by its broadband Internet and new products.

Anglican view on gambling referendum

A pastoral letter to the Anglican family and the wider community on the subject of the proposed legalisation of the “numbers business” in the Bahamas.

Fidelity results 'below target' as provisions up 136%

Fidelity Bank (Bahamas)loan loss provisions rose by 136 per cent during the 2012 third quarter, its chief executive telling Tribune Business this pushed its results for the period “slightly below expectations”.

Family Islands enjoy 40% rise from Latin America

FAMILY Island arrivals from Latin America are up nearly 40 per cent year-over-year, representing one of the largest destination increases, the Out Island Promotion Board’s president said yesterday.

Why You Vex? November 10th

“Vex cause the road works people seems to be slunking an taking so long even though many are hard working Bahamians.”

How Grand Bahama is surviving

I think the time has come for the rest of The Bahamas to know just how severe the economic crisis has been in Grand Bahama.

Colina profits rise more than five-fold

Colina Holdings (Bahamas) yesterday said net income available to ordimary shareholders had more than quintupled year-over-year, hitting $7.1 million for the first nine months of 2012 compared to $1.3 million last year.

RoyalStar eyes 22% Sandy profits cut

RoyalStar Assurance yesterday said Hurricane Sandy would wipe out about 22 per cent of its projected 2012 profits, its managing director estimating total insured claims would come in at $4 million on a “net book” basis.

Fidelity in 37% profit rise as moral hazard increases

Fidelity Bank (Bahamas) yesterday said its net income to end-September remained 37 per cent above 2011 comparatives, despite some mortgage borrowers defaulting in hopes of benefiting from the Government’s mortgage relief plan.

Miller calls for copper export ban

MARIO’S Bowling and Entertainment Palace chief, Leslie Miller yesterday added his voice to calls for the Government to ban copper exports, adding that such thefts had cost him $150,000-$200,000.

The Tribune

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