Premier To Speak At NY Conference
Business Bermuda will host its Annual New York Financial Services Conference this coming Wednesday [Oct.5] at the Harvard Club in New York. The conference will feature a keynote speech during lunch by Premier Paula Cox, who will be introduced by Sir Richard Gozney, the Governor of Bermuda.
The conference will highlight Bermuda’s numerous financial services offerings through panel sessions featuring high-level government officials, regulators and business executives including: Patrice Minors, Minister of Business Development and Tourism; Jeremy Cox, CEO of the Bermuda Monetary Authority; and, Gregory Wojciechowski, CEO of the Bermuda Stock Exchange.
Among the highlights this year, the conference will commence with two concurrent panel sessions at 8:30 AM on insurance and reinsurance and asset management, both under the theme, “Open for Business.”
Among the participants in the insurance and reinsurance panel sessions are: David Cash, CEO of Endurance and Chairman of Business Bermuda; Susan Patschak, CEO of Canopius and Jonathan Kim, Senior Vice President and General Counsel of Montpelier Re among several others. The asset management panel session will have, for the first time, both service providers and fund managers including: Andrew Baron of Butterfield Bank; Sally-Anne Baron of Timber Capital; and Craig Bodenstab of Orbis Funds.
The morning will conclude with a plenary session on the topic of offshore business and Bermuda, which will include the release of a study on the economic relationship between Bermuda and the United States that was conducted by Dr. Charles Ludolph, a senior economist and the former Deputy Assistant Secretary of Commerce for the United States.
Commenting on the conference, Ms. Cheryl Packwood, CEO of Business Bermuda said: “We are excited to return to New York and build on the strong business relationships and partnerships between Bermuda and the United States. We have a powerful line-up of speakers who will provide a wealth of information on the regulatory excellence, economic strength and intellectual capital in Bermuda that we are confident will demonstrate that our country stands apart as the premiere international business jurisdiction of choice.”
The conference will feature additional panel sessions following lunch and throughout the afternoon on a range of topics including: trusts, the convergence of hedge funds and reinsurance, private wealth, infrastructure, aircraft and shipping registry, hotel development and tourism, the capital markets and the legal and licensing requirements for doing business in Bermuda.
Ah. This explains the delay in implementing the 35% tax. A shopping trip.
None of this will stem the tide. Bermuda is dying and Bermudians are to blame for their own demise.
No. Ewart & the Brownites caused most of our problems, as they partied hearty (on our dime), and took our Island almost into the Third World. And guess what? Nothing has changed. Brown is still reputedly pulling the strings in the background.
Believe this; a vote for the PLP is a vote into financial slavery. And Paula is gonna have to add another $250,000,000.00 MORE to our National Debt this year, bringing the total owed to 1.5 BILLION!! When the PLP first came into power there was loads of money in the bank from UBP days.
Seriously, a BIG change is needed for our Island to survive.
Now come on…………Brown or no Brown, we would still have several of the issues that we currently have even if he never existed. It is easy to use Brown as an outlet to blame for the problems of this island given what he did in open public, but what about those same things done before hand by previous leaders? No one likes to mention them. And unfortunately this will go on for quite some time way after Brown. Sometimes, we as a people can’t heed the gravity of the full situation, so we tend to take the easy route and just point the finger because we do not know the full depth of the situation. We claim that this is what I was told and its right, and like most Bermudians we throw in our own little lines and call them facts just to get our point across.
Lets hope Mayor Bloomburg is not watching Bermuda’s IB Firms conduct thier Recruitment drive!
She going to try repair some of the damage that her, Burchy and Brownie did?
Oh, and look, she’s taking a few of those ‘greedy’ IB expats to asssit with her arguement. Ahh irony..
Yup. Burch and Brown really ruined our reputation. It will take years to get it back.
You all realize she is the IB stooge…
All the IB execs are laughing at her! These guys all run incredibly successful and profitable businesses while The Cog is the major enabler of a $1.2 billion deficit. Talk about dating out of your league!
The compilation of attendees finally makes sense. I hope the Ministers use this opportunity to find out what International Businesses want and commit to implementing these requirements wholesale for a period of three years. Hell it might be so successful that the time frame could be extended to ten years!
No one seems to mind that the Governor is going as well. Hmm
Another complete waste of time and money…By the way, perhaps Bernews (Pam) could find out who the Premier’s new Nigerian consultant is, how he ended up in Bermuda, what he is consulting about, etc? At least he’s not Kerwin, (see pages 134 – 137 Sir. R. Auld’s report for Foreign & Commonwealth Office on Turks and Caicos).
Another time waster most likely set up for photo ops leading into the next election by the conservative lobby group Heartland Foundation which our government has taken on in its efforts to re-brand itself.
Queue the circus music! We’ve already got the clowns.
Help!!! Where are we going I’m lost are you ?
The ecconomy is in the pits, tourism (plays a part) is 0 and where has everyone been. Miami, London, Europe, Carribean in the past two months.
Thats what we pay Cabinet Ministers for, their underlings and the Heads of Depatments.
Now, jet off to NY to let them know were still afloat? Who/whom is she recruiting. The Captain is off the Bridge, First Officer is asleep in his Cabin(et) and the rest of the crew are rearranging the deck chairs…………………………….
Must be an new Orchestra comming to play to pay……………………..
I need a double………………
Waiter…….Could I have a Dark and Stormy with one of those little life jackets attached to the slice of limey……..The little umbrella just blew away………………………………………….
Careful now, Gozney’s on this trip. That’s supposed to make it ok….even for you haters.
There is irony in that statement there Hmmmmmmmm.
First time I have heard his name in months les herad a word from him.
And no I am not a hater.
I have opinions just like you.
Conyers, Dill & Pearman were abroad on a road show last week. Bermuda Insurance Institute and BMA on a road show the week before. Not one word of criticism for them going to drum up business for Bermuda. The Leader of the Country goes and engages in the same activity which happens to be her responsibility and is joined by the Governor and others and its a junket, wasteful etc……..what can that be but hate ?
I think this is a very worthwhile trip for the Premier and others to be on! You cannot put her in the same category as private companies such as CDP. They do not travel on Tax payers dollars. BII is the same, they make their own money and also receive grants from private business.
I think the Premier is doing the right thing here, let’s hope she comes across well in her presentations.
Trips to shuttle launches, Caribbean women’s conferences and the recently planned conservative party conference in Manchester (from labor party members) etc, is never going to be received well especially when ministers refused to take pay cuts and are actively seen spending public money on trips that have no positive direct impact on Bermuda or her economy.
It is nothing but pure hate.
Whatever steps the government makes to generate business for Bermuda, the haters claim their efforts are a pure waste of time.
This unconditional hate, without objective criticism, does not erode support for the government.
If fact, this has the opposite effect.
The personal attacks and references to a ‘banana republic’ make for good laughs, however they do not win elections.
Haven’t you figured that out in 13 years?
Flikel….go flick your bik………………….bwahaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa
You and Hmmmmmmmmmmmmmmm must be from the same ole mold.
Who the hell is running the Country. Answer me.
The Premier is off in NY, the Deputy is off in England with Mr. Horton……………………………
Who’s runniong the freekin show………………………
Laverne and the Chapmonks?
And you wonder why we are where we are?
Um goin by some crack……………………………….
Terry,
Your commnets are very amusing and makes for a good laugh.
Were you equally critically when the UBP Premier and Deputy Premier were off Island at the same time?
Did you lauch personal attacks and insults at other memeber of government. Did you make similiar references to drugs as well?
Like I said, comments like this do not win elections. If you had an ounce of common sense, you would have realized this by now.
Your right again Flikel.
Comments don’t win elections. Your good. Thanks for the heads up. I won’t comment……………………I’LL VOTE’
Put that in your in box.
Businesses were practically kicked out of Bermuda because of the gov’t's scare tactics….. Perhaps you should check to see how many companies have left this Island, how many Bermudians are still looking for employment, how many companies are renting office space(one filing cabinet/one telephone with an answering machine) or one person working that little space…
Also, CD&P had how many rep’s compared to the government’s…. and look – no treaty’s were signed – doing more with less – no paper, no pen, no pencil, no paper clip, no white-out.
Get the picture???
Said it better than I Wondering.
Plus thats what bussinesses do. Drum up stuff instaed of beating the same ole one.
HmmmmmmmmmI wonder about you. The Premier as I have stated hundreds of times has a commitment to be available. This is not POUS or no where near it. Thats why she has Ministers, Heads of Departments et al. S$#t, she hasn’t been home in so long with all these trips the Minister of Homeland Security should check and see if she still has status..
A.S. Coopers also had buyers abroad and so did Jim Butterfield and on and on and on.
I don’t know why I even post here. If anyone is a hater, it’s you. You hate the freeking truth.
“A.S. Coopers also had buyers abroad and so did Jim Butterfield and on and on and on”
So you do support scrapping the 60/40 rule entirely? Do you support total relaxation on non-Bermudians buying land?
What do you stand for?
60/40 rule has nothing to do with the Premier et al being away from the ball park most of the time.
How has the Premier been away from the ball park most of the time?
Please give details.
Your sarcastic and insensitive comments are not back up by any facts. If they were, I am sure you would shared them by now.
Here’s a fact.Bermuda is 1.5 Billion dollars in debt and cannot manage the interest on the debt.
Here’s another fact.Unemployment is at an all time high.
Here’s another fact.Homeless people are sleeping,pissing and crapping on Front Steet because they have no place to go.There’s no money for social assistance.
Here’s another fact.Over 200 IT(commuter/systems management)jobs have been quietly moved to Canada and the US over the last 12 months.That’s a fact.
Here’s a fact.Your household costs have gone up by 60% in the last 2 years.While most salaries and wages have been frozen.
One more fact.A lot of high ranking plp politicians have purchased a great deal of land in the US over the 3 years.The fact is it was with your money.
Open your eyes bird brain.
1) Who says that Bermuda cannot manage the interest on the debt? What is your source? Please refer me to your source, or is this merely an unsubstantiated opinion?
2) Unemployment is high, however the world is going through a ‘financial crisis’, the US President called this the greatest financial crisis since the Great Deperssion. Bermuda’s economy is mostly dependent on providing financial services, thus we would be affected by this. Also, Bermuda typically receives most of its tourists from the East Coast of the US, which has a high concentration of financial companies. Thus, our tourism is affeced as well. So, how is this the PLP’s fault? How could they have steered Bermuda’s financial service economy clear of this global financial crisis?
3) Bermuda has always has a homeless problem. Today, they are more visible and not tucked away. That’s the difference.
4) 200 IT jobs have quietly moved to Canada/US. Yes, this may be true. However, what is their reason for leaving? Is it because the cost of providing these support functions are cheaper in these countries? Again, is Bermuda’s high cost of living the fault of the PLP? I do not see any landlord or business person lowering their prices ‘for the good of Bermuda’. Would you be willing to accept a pay cut as part of your contribution to lowering Bermuda’s cost of living and cost of doing business?
5) Yes, my household costs have gone up. Again, did the PLP force businesses to raise prices? Did the PLP cause global commodity and metal prices to skyrocket? Did the PLP cause the price of oil to increase thus resutling in the surcharge on your BELCO bill?
6) I am no highranking politician, however I bought a little peice of land in the US. So what does that prove?
What has and will the PLP do to adjust the cost of living in Bermuda?
Was the civil service overpaid and over employed under the PLP and how did that contribute to inflation? How is that still contributing to the big hole we are already in? Answer it is driving us further into the well.
Why did Paula raise payroll tax at the time when the wordwide economy was worst hit? How did that affect companies like CITI group employing in Bermuda? and your IT companies etc. It increased their employment costs while their incomes were down, as a result they packed up shop and went elsewhere.
Why did the Government overspend on almost every publicly funded project and how has this affected our present tax structure and future tax structure in a recession? Has that wasted money taken away from things like social services. YES IT HAS!
You can blame the wordwide economy which is true to the economic environment we are in, it is how we react and manage the country in that environment that counts. At present, epic FAIL from the PLP.
Are you typing me as a “Hater”
Terry…. I was taught growing up and I stand on this – If you are going to do anything do it with all your heart, speak the truth, be honest – there will be those that will support you and others that will dislike you – love them and encourage them to be the best that they can be, pray that your words and actions will bring about change in their lives.
I thank the Lord for me having a right mind and a clean spirit daily, for blessing me with a Warrior Spirit and for giving me the spirit of discernment.
We still have freedom of speech in Bermuda, unless of course, that will be the next thing taken from us…
A black preacher walked up to a gentleman one time and said to him “Man, you’re a different kind of black man.” The gentleman responded “No, I am in control of whose opinions are important” – Dr. Myles Munroe was the gentleman.
Everyone’s opinions are important whether we on this blog agree or not – we are all concerned about what is taking place in our Country (no other) and it is of my opinion Terry that we must scrutinize government in every way possible. We have our families to support and care about and government keeps putting up obstacles to enable us to do so comfortably – have a read: our seniors, our education system, our sick and shut in, our homeless, our mentally disturbed, our unemployed, our transportation system, health care, cost of living (food is a necessity), car is a luxury (right?), clothing, and all rest.
Have you read the local papers as to our future in a matter of days/weeks/months – have you seen your BELCO bill – are you able to pay it in full, are you employed or holding your breath waiting for that e-mail or call, do you own your own business, it is known that Bermudians love to travel – maybe gov’t plans will change that (ours not theirs) -(hey Gurl, when you going up – Can’t this year, to expensive..
Let me share this with you…..
“A woman cannot fulfill her purpose unless she is in relationship with God”.. Any woman who is outside a relationship with the Lord is a dangerous woman…..
Exhale Terry and feel the love
Lets just hope that no-one at this conference googles Bermuda,Paula Cox,finances,budget at the same time. They might be in for a shock.
Why would they be in for a shock?
Bermuda’s debt to GDP ratio is far better than the US, UK and most ‘western’ countries. Actually, Bermuda’s finances are better. If you do not believe me, then do a little research on the debt load, unemployment rate, extent of property decline….Bermuda’s financial situation is better than the countries of the attendess of this conference.
Again, if you don’t believe me, do your own research and come back with facts…not nonsense.
others mistakes are a fools paradise!
Bermuda is a “small town” so comparing us with large western countries with diversified economies is apples and oranges. Furthermore, no small town needs 5,000 plus RUDE civil servants to run the Gov’t. And many of them, especially those in a Uniform, abuse their perceived power daily. The Civil Service is supposed to HELP us, not hinder us!
If you think our “financial situation is better than the countries of the attendess (sic) of this conference” you need a reality-check. So does your Party.
Again, you cannot disput my assertion with facts.
Stating the I need a reality check without citing any facts only serves to validate my point.
Yes, Bermuda may be a ‘small town’, however small towns in large western countries also have the resources of the federal or larger government. As such, they do not have to concern themselves with matters such as immigration, customs etc.
A more realistic comparison would be to countries of similiar population size like Guerney.
What natural resources does Bermuda have compared to the others in a financial mess? Oh that’s right NONE.
I was going to reply to flikel but everyone else has stated what I wanted to state but bear in mind that these other countries have plans to pull themselves out of debt. We don’t and our reliance on income (International business and tourism) is dwindling very fast. We can’t pull money from elsewhere.
@ Finkel
I wish people, as you have done, would STOP STOP STOP STOP comparing BDA’s economies with the USA, UK and “most western” countries……………What part of 21sq miles IN THE ATLANTIC do you not UNDERSTAND????????????????? I guess you didn’t get the memo. Geezsh!!! most of these countries have football stadiums or concert venues that hold more people than the entire BDA population!
Bermuda is the size of a SMALL village (not town….but village)…..with NO EXPORTS BUT LOTS OF IMPORTS – and now, thanks to the PLP, a limited source of income, with (relative to the population) high unemployment with NO social system in place or money left in the cookie jar to pay its own bills. ALSO Note: NONE of these SMALL VILLAGE’s are a $1.b in debt!!!!! Your comparasions are pointless and total nonsense so do us all a favour and stop trying to compare apples with oranges or this Government with GOOD GOVERNANCE.
Ditto
Reality is anathema to the PLP.