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Messages - rotatopoti3

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Cricket Anyone / Re: Barbados could lose CPL franchise!
« on: July 02, 2015, 06:51:14 PM »
Barbados Govt playing games here

Smallmindedness again...let them play by they self...

Football / Re: The Jack Warner Thread.
« on: July 01, 2015, 07:48:55 AM »
Jack is very calculated and is turning out to be more pronounced than the Wizard Harry Potter.

He has now hired one of more astute extradition lawyers money can buy.

There is much to be learnt from his antics and how he uses the media while plotting his next move.

Regardless of how one feels about him, we all can learn a thing or two. ;D

Cricket Anyone / Barbados could lose CPL franchise!
« on: June 27, 2015, 10:06:46 PM »
One would have thought that Barbados would be happy for this exposure.

Apparently not.

General Discussion / Duprey wants back CLICO!
« on: June 27, 2015, 08:44:12 PM »
Former CL Financial chairman: Return my shares and I will fix company
By Asha Javeed (Express).


LAWRENCE DUPREY feels he was duped into disposing of his company, CL Financial (CLF), to the Government in January 2009.

Six years after the Government took over management of Duprey's CLF to stem money problems in two subsidiaries—Colonial Life Insurance Company of Trinidad and Tobago (CLICO) and the CLICO Investment Bank (CIB)—Duprey wants the State to return it.

And he's prepared to challenge the Government legally for it if the State does not submit a proposal plan to exit CLF to its shareholders by month's end.

Duprey, 81, remains the main shareholder of CLF.

In March, Central Bank Governor Jwala Rambarran announced that CLICO had turned a profit and was able to satisfy its main creditor—the Government—with a $7 billion payment.

That $7 billion (which comprised $4 billion in cash and three CLICO assets—Angostura Holdings Ltd, CL World Brands Ltd and Home Construction Ltd), Rambarran had said, represented 40 per cent of the debt owed to Government, which works out to $17.5 billion.

But former attorney general Anand Ramlogan had pegged the bailout figure at $25 billion, while the country's former and current finance ministers, Winston Dookeran and Larry Howai, had estimated it at about $22 billion.

“The company is easy to fix. The economy and the country need that company. I have unfinished business to take care of,” Duprey told the Sunday Express in a phone interview from his Florida, USA, home last week.

In a message to the Government, he said: “Hand me back my shares and I will come in and fix it.”

The Government has been managing the CLF conglomerate through a shareholders agreement originally signed in June 2009 and which has had multiple extensions as the Government seeks to exit the company.

Fired CLICO chairman Gerald Yetming remains the chairman of CLF, Angostura and HCL.

The Government will not exit CLF until its debt has been satisfied.

But Duprey said he was coerced into agreeing into the situation in the first place.

He provided the Sunday Express with a letter which he sent to then Central Bank Governor Ewart Williams to alert him of the liquidity situation.

The letter, he said, was drafted by his then adviser Ram Ramesh (the former chief executive of what used to be CLF subsidiary Caribbean Money Market Brokers).

The January 13 letter, said Duprey, did not call for a bailout, but liquidity support.

“CL Financial being a significant part of the financial sector has been disproportionately impacted by these adverse conditions. Many of our customers are also affected and are consequently calling on their reserve cash positions. Thus far, all our member companies have been able to deal with their commitments.

“However, we need to develop a comprehensive contingency plan to meet any further developments, if this were to follow a similar pattern to other countries. As a result, CL Financial is taking urgent and decisive action,” the letter said.

The letter outlined CLF's assets for re-structuring—real estate, $2.5 billion; manufacturing, $6.3 billion; energy, $7 billion; and financial services at $8 billion, for a total of $23.9 billion.

A complex action plan

“We are in the process of realigning the asset-liability structure of the group to better meet the current liquidity situation. This is a complex action plan that we are embarking on immediately, including initiatives such as merger of certain entities within the group with strategic partners and/or sale of certain assets in order to raise liquidity.

“As you would appreciate, these initiatives would need some time before they yield the desired results. In the event that the financial crisis deepened in the local market, we may need urgent liquidity support to be made available to the group. In this regard, we would like to discuss the approach of the Central Bank toward supporting the financial sector and, by extension, the CL Financial Group, if conditions were to deteriorate,” the letter said.

This letter was submitted by the Central Bank to the commission of enquiry conducted by Sir Anthony Colman into the collapse of CLICO and related CLF subsidiaries.

But Duprey used it to illustrate that the assets of CLF and CLICO had value, which the Government is now reaping, and that had the Government provided “liquidity support”, as requested, then he would still control his company.

“The whole essence of the letter was misguided by the powers that be. The CIB matter should have been handled by the Deposit Insurance Corporation (DIC). It was the Central Bank's actions which caused a further run on the company and in Barbados,” he recalled.

He blames politics for how he eventually lost control of it.

“The Government came in and they wanted certain assets to satisfy the Statutory Fund. It was clear manipulation by the Government,” he said.

If Duprey's words sound like those of a jilted chairman, at least they have been consistent.

In his witness statement provided to the commission of enquiry in October 2012, he said: “The global collapse coinciding with an ever impossible revamp of the regulatory framework and a refusal of Government-owned entities to back the group after all the years of benefit that they had received from the interest income that the group had generated led to the need for some ultimate Government support.

“I would have preferred, as I deal with further on in this statement of the intervention had not been so politically motivated and had been directed at protection for I believe had that been the position we would have fared great deal better.

“Losing all the intellectual capital as a condition of intervention was a bad decision and was not one replicated in the USA or the UK. It is of note in this regard that I was firmly of the view in January 2009 that the run on CIB and the resultant liquidity or cash flow issues was much inspired by the decision of State-owned or run entities making decisions at or about the same time to withdraw rolling deposits which had been previously rolled from maturity to maturity without question. The decision to seek funds back came in reality out of the blue and caused severe problems.”

Duprey told the Sunday Express he feels he was victimised because he was a friend of former United National Congress prime minister Basdeo Panday, so he left Trinidad immediately after the memorandum of understanding was signed.

“I thought they were about to put a pair of handcuffs on me and put me in jail. I thought that is the action John Jeremie (former attorney general) would have taken so I never came back,” he said.

Asked why he never commented before, he said: “I didn't think it was a public matter. It was a private company.”

Duprey: I can fix CLICO

The disclosures at the CLICO commission were startling—million-dollar salaries paid to executives, companies created by executives and hiving off millions in contracts, and breaches in governance—all at the expense of policyholders.

CLICO was an insurance company formed by Cyril Duprey in 1936.

The reins were passed on in 1988 to his nephew, Lawrence, who grew the company into the conglomerate CLF.

When former Central Bank governor Williams announced the bailout of the company, he said it was to reduce the “systemic risks” to the country's financial sector.

But Duprey countered the Central Bank never explained its strategy to him.

And now, CLF and CLICO are doing well, and in his mind, what the Government has basically done is nationalise its prime assets.

Duprey now has a team negotiating with stakeholders on his behalf—former Hindu Credit Union (HCU) president Harry Harnarine, former CEO Claudius Dacon and Carlton Reis.

To this end, he has also retained former attorney general Ramesh Lawrence Maharaj to file a constitutional motion against the Government for breach of contract and an oppression claim.

“I am in touch with what is happening globally. I know what to do and I can fix it,” he said.

However, Duprey's CLF would be a shell of what it once was—several assets were sold for a cumulative $5.5 billion. They are Primera Energy, Lascelles De Mercado, Burn Stewart Distillers, Valpark mall and Atlantic Plaza, its Methanol Holdings (Trinidad) Ltd shareholding and its W Fort Lauderdale Hotel.

Howai: Legal action could be long

When the Sunday Express questioned Howai about Duprey's request, he responded: “Mr Duprey has not contacted the Government on this matter. The CLICO Shareholders Agreement is an agreement between the Government and the CLICO shareholders. The Government cannot unilaterally conclude the agreement. This has to be done in consultation with the shareholders. The Government is still negotiating with the legally appointed negotiators of the shareholders.”

When asked about civil action against the State, he answered: “If, as you say, it is Mr Duprey's intention to 'initiate civil action against the State', I expect that it would be a long, drawn-out affair with little immediate impact. While the Government remains mindful of the constitutional rights of all persons, it will not be intimidated into arriving at any conclusion it does not think is in the best interests of the country.”

The majority of the Government's bailout was spent on paying back policyholders of CLICO and British American's Executive Flexible Premium Annuity (EFPA), which was a facility created by CLICO to raise money and bore an above-market annual interest rate of ten per cent.

Those attractive interest rates had drawn over 25,000 people to invest billions, and CLICO's reach had stretched from credit unions to prime State enterprises to owing millions to local banks.

Duprey had described his empire, which at one time comprised some 65 companies in 32 countries, as being caught up in a ­perfect storm of economic collapse.

Cricket Anyone / Re: the Kristan Kallicharan thread.
« on: June 27, 2015, 06:10:02 PM »
Well if his last name is anything to go might be onto something   ;D

On the up side, we have enough time.

Them fellas already calculate, if they lose d test match in 3 days, they have 2 days less of hot sun.  ;D

General Discussion / Re: New ting .... transracial ....
« on: June 13, 2015, 05:20:56 PM »

Football / Re: Curacao gets late winner over T&T.
« on: June 09, 2015, 11:44:34 PM »
So if Patrick Kluivert become T&T coach tomorrow you will consider us a threat?

Sure why not...if anything he could teach KJ how to improve his striking of the ball.

Football / Re: Curacao gets late winner over T&T.
« on: June 09, 2015, 08:44:51 PM »
Patrick Kluivert is there coach...

Thats says enough to convince me that they are a threat...

Dutch fitball....

The mistake they made is not having Simmons train as the back up 'keeper.

In the past 20 yrs...please shed some light on other mistakes you think they have made.

Football / Re: Curacao gets late winner over T&T.
« on: June 07, 2015, 08:30:38 PM »
Like allyuh aint see who is the coach of the opposing team??   ;D

Allyuh want ah Cortina to outrun ah Kingswood.

Football / Re: New TTFA same problems.
« on: May 13, 2015, 06:06:49 AM »
This have to be de worst I ever see we football run.

I tell allyuh Affirmative action is d way to go...but nah doe study me...i always bias.

Another thing...all dem money some of them fellas making...dem cant rent ah maxi...steups...

all yuh players know d organization scrunting...well shellout some of yuh cash nah  100 pounds is toilet paper money for some fellas...

Look at George Weah as an example....

In the late 1990s, amid the fighting, Weah -- pronounced WAY-ah -- single-handedly financed the national team's World Cup qualifying efforts, setting up training camp in neighboring countries, paying his teammates' travel expenses and purchasing shoes and uniforms. He was the team's benefactor, star player and coach. The Lone Star, as the team is known, fell just short of a berth in the 1998 World Cup in France -- the closest Weah would ever come to the sport's premier event.

General Discussion / Re: Baltimore, MD
« on: May 03, 2015, 03:55:50 AM »
What is American?

D man have a point ...seems like he only considered a Patriot when he giving he life for d US

Football / Re: Levi Garcia Thread
« on: April 27, 2015, 10:37:16 AM »
Elan as VB pointed out, you are only seeing 2 races Black and White.

What does the women's US team have to do with my discussion about the TNT model.  We are made up differently from them.

In any event I'm happy to hear that the US had 1 player that was partly of American American descent. If this your argument, how many TNT players presently make up of other descent than Afro Trinbagonian?

Now this is like comparing apples and oranges.

Back to my point.  I want to see equal representation.  All I am asking for is 3 players.  You can have the other 8.  How hard is that?

Anyway this is the system that many condone and accept it as the norm.

Deeks, there are exceptions to the rule and you will find individuals who prefer cricket or influenced by parents but you can't tell me that the overall general consensus. 

I cannot comment on discrimination at any level.  I don't have that right.  As an observer I am explaining what I would like to see.

Football / Re: Levi Garcia Thread
« on: April 27, 2015, 12:55:52 AM »
We like to pride ourselves on how as a small country we achieve so much but I really have to differ here. 

Play yuh fitball- That’s a copout  breds.  That’s just going to continue to sweep the problem under the rug and offer no solutions and policies to move TNT football forward. 

You could argue that 2 foreign Caucasians lended a big hand into taking TNT to d World Cup and you also say a Chinese fella on this board was also instrumental in taking TNT to its first Youth World Cup in Portugal. 

Ok  now, let's narrow things down a bit here.  No need to gasp.  I feel  some aren't following my point.  I am NOT taking away from the notion that there are black players who deserve to be in the team.   There should be room for everyone.  If we continue down the cycle that we see the small mindedness is showing here.  Open your scope see the bigger picture.  This is NOT a Sat Maharaj post. This is asking for thinking from the outside the box approach.
Permit me to expand of where I am going with this minority discussion.

Emulating & feeling of connection

1 If you look at TNT football, over the past 25 years, who have been the footballers in TNT that black youth have had to look up to and tried to emulate.   Let's see Yorke, Latapy, Leonson Lewis, Stern John, Clint Marcelle , KJ amongst others?

How about the other groups  in TNT football? Do the other young youth have any one to see as someone they would want to emulate?  If an Indian child cannot see another Indian child making the national team, then it means that they don't have the same connection as a black youth would have of Yorke or Latapy.   (This is not to say as a black youth you would want to follow Yorke and Latapy behaviour outside the football pitch).

Public Funding & Corporate Funding
2 Why do we lack public and corporate funding?  Well part of the problem is our football business model.  Other minorities are not getting an opportunity, who football t-shirt you want people to buy?  How many other people coming out to see people that they have any respect or can feel they want to aspire to be?  Give Chinese people a reason to come out and see another Yao Ming. (Untapped Resource)   
Here’s another example, as a Trini, why do people like watching Dutch Football ?  Because its pretty, yes that’s one plausible reason but the other one is that people feel connected to Gullit, Rjkaard, Winter, Davids et al (All from we region and a mix of our culture). 

Impact of Affirmative Action within the system.
3 I would say proportional representation would add a new shake up of ethnicities and help to improve football  within all facets in the future.   If we were to look at Affirmative Action in regards to employment and in Colleges & Universities, there have been many positives to come out of these programs and improve cultural understanding, communication and foster new relationships. 

Another thing,  in relation to CEO Dexter Skeene.  Will he retire in that position? Is it ever contested? Probably he does the best job as a CEO to many.  Well I would like the see the Honourable Minister of Sport Brent Sancho have a word with him about setting up a status quo across the board about FAIR representation  .   
Football is a business.  If we aren't reading the demographics of our population and doing the correct metrics to evaluate why we continue to lack support, here's one of the main reasons why.  Look at the entire infrastructure and the fraternity.  Will we continue to go through the regurgitated cycle of mediocrity? 

Football / Re: Levi Garcia Thread
« on: April 26, 2015, 03:39:38 AM »
Glad to see ah indian they.

Sam, I would even go further than that.

I would like to see Affirmative action implemented into the College League, Pro League and the National Team.

I think each team should have at least 3 players of various minorities.  Even if they playing shit, they will improve.  It can't be worst than the past 20 years.

I do not buy into the argument that the current crop of black players making up most of these squads are the best for the team. There are players around I'm sure who don't get call or haven't been discovered in small leagues and that is a real pity.  I use to see some real ballers in Freeport and Rio Claro...

For far too other various minorities have not been given a fair shot in TNT football.  Why is it that the Dutch can have so many minorities from countries like Surinam and Nigeria.

At the grassroots level all players should all be encouraged.  We aren't tapping into this resource. 

Since Anthony Sherwood, how many people of Chinese origin play for TNT, how many Indian since Bobby Sookram, how many Caucasians since imported Birchall?

We need stronger and more open minded administrators and less favouritism.  I want to see other minority coaches be given a chance. 

Kraigg Brathwaite, at 22 years and 144 days, is the third youngest West Indian to reach four Test centuries, after George Headley and Gary Sobers.

Not bad company to be among!

Cricket Anyone / Re: Narine reported for suspect action again
« on: April 24, 2015, 11:34:25 PM »
I think there is a personal vendatta again KKR even more so against Sharuk Khan..

All of last season nothing wrong with Narine..just from about d semi final...IPL pull d plug..

It not making sense...

Dey aint calling no Indian bowler...something not adding up..I standing with Narine ...

General Discussion / Re: Highways and Roadways in T&T Thread.
« on: April 22, 2015, 05:40:42 AM »
Chief executive officer of Royal Dutch Shell Ben Van Beurden only make €24.2 million for 2014

Daiz alot of bread Deeks....

General Discussion / Re: Highways and Roadways in T&T Thread.
« on: April 21, 2015, 06:09:54 AM »

Chief executive officer of Royal Dutch Shell Ben Van Beurden only make €24.2 million for 2014

Football / Own Goal Thread.
« on: April 20, 2015, 06:53:52 AM »
How to score an overhead own GOAL!

What a gem this Jason Holder lad is.

Credit to the team..

Cricket Anyone / Re: A tribute to Richie Benaud Podcast
« on: April 11, 2015, 09:16:44 AM »
Thank you for posting these links rotatopoti.

Don't mention it Kaliman2006.

Listening to cricket from Richie Benaud & Tony Greig will sorely be missed.

Hope Boycott, Henry Bloefeld, David Lloyd (Bumble) and our own Tony Cozier & Michael Holding stick along for a while.

Cricket is so much more entertaining with these personalities.   

as some said we lack the temperament to chip away and be patient.

NZ was 247 at the 41st over. 

I'm not sure what kind of game strategy they have in the dressing room about scoring.

Do they just go out and bat or do they say well in 10 over we should score this amount?

Thing Phil Simmons will try to improve this part of the game.

General Discussion / Re: Racism in T&T - The Thread.
« on: March 18, 2015, 10:16:06 AM »
well what can I say..i dont know much..

but I'm not about to let other people send up my blood pressure.

I still need to find the definition of what is a racist is

But anyway i dont pretend to be god's gift to mankind but i think i live in trini long enough to know a red herring when i see it...

There are more important issues that need to be addressed in I wouldnt let this one take away from say. WI vs NZ cricket on Saturday....

General Discussion / Re: Racism in T&T - The Thread.
« on: March 18, 2015, 10:01:40 AM »
Socapro ah hear yuh sentiments brother...but dont be antagonized and fall fowl to a few jackasses.

You will find hatred everywhere in the world...dont become part of the problem..

Please help my Indian brothers and sisters et al..

We are a microcosm of what good tnt is..

be a mentor and not a hater...

Dont let politics and people who cant help themselves get to you.

When all is said and done....tomorrow is a new day..

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