Cayman Newspaper Chides Premier Cox
Premier Paula Cox’s criticisms of claims by Shadow Finance Minister Bob Richards that rival Caribbean jurisdiction Cayman may be stealing a march on Bermuda in the reinsurance field entirely miss the point, says the leading newspaper in that British territory.
In an editorial today [Feb.27], the “Caymanian Compass” says the Bermudian Premier’s decision to question the One Bermuda Alliance [OBA] finance spokesman’s patriotism was irrelevant to any discussion of new initiatives Cayman leader McKeeva Bush is spearheading to draw reinsurers to that off-shore domicile.
“Premier Cox, rather than taking constructive criticism in stride and seeking to implement competitive solutions, has instead blasted those making such statements,” said the newspaper. “She claims they have shown a ‘lack of patriotism’ and have sided ‘with the leader of a competitor jurisdiction’.
“We apologise for being blunt on this point, but nobody in the international business community cares a whit how ‘patriotic’ somebody is when they are looking for a jurisdiction in which to operate. If Bermuda’s core business really is on the line, we hope Premier Cox has a stronger point to argue.”
Last week [Feb. 22] the Premier and Finance Minister said the “latest comments from the OBA’s spokesperson for Finance, Mr. Richards, have gone one step further and taken a domestic fight international.”
“In fact, how a patriot for Bermuda could ever stand in front of an audience and side with the leader of a competitor jurisdiction against his own, defies belief.”
Mr. Richards responded, saying: “If the Premier’s definition of being patriotic means that you have to lie, then I am guilty as I am not going to lie.”
Quoting Cayman Premier Bush who said Cayman offered reinsurers a domicile “without the malice, without the inhibitions of race, without the inhibitions of transport,” Mr. Richards said “those inhibitions, that malice, and that racial rhetoric was directed at us.”
“And there is nobody in this island that can ever say that’s not true,” said Mr Richards. “It is true. So if I have to be a liar to be patriot, then I am sorry I am not a patriot. I will always tell the Bermuda people the truth
The Full “Caymanian Compass” Editorial Appears Below:
We must applaud Premier McKeeva Bush for his recent public efforts to woo the Bermudian reinsurance industry to the Cayman Islands, even if the premier’s office may have little to do in the end with whether these companies come to our shores.
It never hurts to let the international community know the Cayman Islands is open for business and that we maintain significant advantages over competitors in many areas.
What has been particularly telling is the response of Bermuda Premier Paula Cox to criticisms within her own country; that it has not been as welcoming or business-friendly as perhaps it should have been. This has, in turn, led to some companies shoving off, the critics say.
Premier Cox, rather than taking constructive criticism in stride and seeking to implement competitive solutions, has instead blasted those making such statements. She claims they have shown a “lack of patriotism” and have sided “with the leader of a competitor jurisdiction”.
We apologise for being blunt on this point, but nobody in the international business community cares a whit how ‘patriotic’ somebody is when they are looking for a jurisdiction in which to operate. If Bermuda’s core business really is on the line, we hope Premier Cox has a stronger point to argue.
The Cayman Islands needs to take note of what is happening in Bermuda and what has occurred there over the last several years; a point this newspaper has raised many times within the past few years. Rules that make it impossible for most foreign-born residents to purchase property, immigration regulations that might generously be described as extremely strict, and a prevailing attitude that the IB community owes Bermuda something for the privilege of operating there. As Premier Bush is fond of saying, Cayman is no longer the only girl at the ball, but we’re still a beautiful option for would-be suitors. The same might not be said of present-day Bermuda. Take heed, Cayman Islands, of the situation now facing our neighbours to the northeast. Our country truly is at a ‘crossroad’. Will we choose the same path that Bermuda has chosen, already knowing where it has led?
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- How Broke Are We? Pt 4 | February 27, 2012
Cayman, newsflash. Targetting Bermuda is not a strategy.
That newspaper may want to pay closer attention to what is going on in Cayman as opposed to what is happening here in Bermuda.
That place has a lot more issues than this place has, precisely because their policy direction was misguided. They have very few locals in IB in cayman, they are mostly non-caymanian. That has caused great social pressures in that county, and the fact that they have extended voting rights to those same people at the expense of their own.
It is a lesson to learn.
Cog’s unpatriotic comment was expected as it was the usual PLP ‘shoot the messenger’ tactic rather than deal with the issue. It was character assassination rather than own up to a problem. Only thing is it wasn’t race based for a change. Perhaps the PLP is finally approaching puberty. Maybe when they are completely grown up they can stop acting like a child and deal with issues instead of childish name calling.
In addition, Cayman will always be a shadow of Bermuda. It has neither the beauty nor the reputation we have. The way Cayman is developed is like a cheap nasty Florida suburb with flatland and marshland to match. We need to try harder in Bermuda to get back to where we were – but Cayman is rubbish in comparison.
Cayman Islands are a non-factor, their Premier, that newspaper and the residents all need to have a seat. They are so jealous with that ugly ass country lol. It does look like a cheap nasty Florida suburb. Trying oh so desperately, attaching our name with theirs for some attention. Desperation.
@amen. Amen to that!
As I mentioned before, those Caymanians are insanely obsessed with Bermuda and are screaming for attention. They play second fiddle to Bermuda in almost every aspect except crime. Daily armed robberies are becoming the norm. They talk about how flexible their immigration policy is, so much so that the paper Caymanians out number the born Caymanians. They have handed their country over to whomever can pay the highest price – what a shame. When the next Hurricane blows through their sand bar of an Island, I hope they don’t look to us to assist!
Whether or not Cayman is truly a competitor for our IB business is not so much the point as Bermuda’s stubborn refusal to look at the message and the implications of said message. We would rather denigrate the messenger and their home. So sad.
We may have a beautiful island – although we are fast losing even that advantage, what with the new development on the South Shore (surely the ugliest projects ever built on this island), and the proposed projects a little further to the east – but if the population and the laws are unfriendly, beauty won’t matter.
Caymans are attempting to play a game of Chess against Bermuda. Mr. Richard was a chess piece on the board game. He was wrong to throw his own country under the bus, and so the Cayman’s is likely to give such a reply. The Cayman’s has major problems within their own country, and need to go deal with those issues. The Premier was correct in her statement regarding Mr Richards. No matter how you spin it, no one talks about their country with another competeterior on the International Stage. Cayman’s was hoping Premier Cox would give them some pointers, but she did not. She knows what game they are playing, and is not sleeping.
The metaphor you were looking for was “Richards was a pawn”.
Although, I wish Cog would sleep, that would mean she’d be off duty for 8 hours a day. The only people throwing Bermuda under a bus are the PLP.
@ Specialgirl4you: Pointers? You’ve got to be joking!! The only pointers she could give at this stage of the game is “how to ruin your country’s economy in less than 10 easy lessons!”
Ladies and Gentlemen, I have read the above article and many of the comments. I have one thing to ask of you. Please do not hate all the people of MY country..”the Cayman Islands” because of the stupidity of our current Premier and his minion of idiots!
Unfortunately for us, we have a section of the Island who hold the majority of the voters, namely WEST BAY…who are huge supporters of this man. They have continued to to inflict the power hungry, illiterate, sub human on the rest of us, election, after election. He has sold the country mile by mile against the wishes of the people. He has sold the country to one investor after another for personal gain. He is now under investigation for corruption. It is our greatest wish that he is brought up on charges and jailed for life…even exiled if it were possible.
We are living under a tyrant and we the roots of our country are trying to ROOT him out at the next election. Please bear with us and we do sincerely apologize for the meddling this tool has done in your domestic business.
We are as disgusted with the concrete jungle they have been creating and we aim to change that as well. We the people are not the government and you may know as well as us that sometimes politicians tend to get out of hand and act against the better judgement of the peoples wishes.
We wish you well with your issues and May God Bless you and keep you all well during the upcoming and future hurricane seasons…as this is not something neither the people or government controls. Our hands are yours if ever you call!
God Bless,
A Real Caymanian