Coffee Break - BMEX tries again
Published on: 5/12/08.
by Harry Mayers
Victor strolled into
the café. "James Husbands deserves a medal," he declared and paused, obviously waiting for attention.
Knowing that all
eyes were on him, he continued, "He's at it again with this BMEX thing. He's still pushing manufacturing. He's still complaining. Can't get good loans from the banks and he forgot that
we can't even get reliable labour these days.
"Manufacturing? Good in theory but is is really practical to push it? Costs too high."
I reminded Victor that he was supposed to be an entrepreneur; somebody who took risks and looked for unique solutions and niche markets.
"I hear you," he replied, "but don't forget that we go into business to make profits, not just to make fun, and right now everything in Barbados militates against profitable manufacturing in Barbados. Energy costs, labour costs, finance costs and after all of that the market is still on the small side. We are a high-cost producer, even when
it comes to sugar."
Victor continued, "I agree with James' observations but I also know they are the same observations we made three decades ago. So he's only singing the same old tune."
"But you just can't throw your hands in the air and
give up. That's what you are suggesting," I charged.
"No I'm not doing that," Victor snapped. "I'm not giving up. I have a new approach that is bound
to give results if
handled correctly."
We silently waited for Victor to unveil his plan.
"It's very simple. Put
Sir Erskine LLoyd Sandiford in the picture. As the first resident ambassador
to The People's Republic
of China, let him work
out arrangements for
our manufacturing to
be done there. Bingo.
"Don't look so surprised.
A wide range of America's goods, which we love to buy, are being made there."
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