Wheels Cycle Closing, Cites Economic Conditions
Wheels Cycles in Hamilton will be closing, with the company saying “the recent economic conditions have meant for extremely challenging trade and the decline in both rental and retail business has unfortunately left us in a position were we can no longer sustain the operations.”
The store looks set to have a closing sale, with the sign above visible on their window. The company said the staff will remain available for the rental equipment and for the collection of private property for the remainder of the month, and all private property must be collected no later than August 31st.
The text of the Store Closure sign on Wheels window follows below:
Dear Valued Customers,
It is with great regret that we have to inform our customers of the closure of Wheels Cycles (Hamilton) Ltd.
The recent economic conditions have meant for extremely challenging trade and the decline in both rental and retail business has unfortunately left us in a position were we can no longer sustain the operations.
Our staff will remain available for the return of rental equipment and for the collection of private property for the remainder of the month. All Private property must be collected no later than Friday August 31st, 2012.
We are very sorry for the inconvenience caused. Any inquiries regarding the return of equipment or the collection of cycles can be made using the contact details below.
E-mail:- sales@wheels.bm.
Tel:- 295-0112
…..and the downward spiral continues…..sorry to say but there will be alot more to come still…..
Make all foreigners unwelcome – then there’s nobody to rent bikes. Simple economics.
Guess PLP will blame this on the worldwide recession – or the UBP – or some other BS.
PLP – putting us into financial slavery for 14 years.
I actually was looking at buying a pedal bike from Wheels a few months ago, but decided that with all the uncertainty around work permits that it wasn’t worth buying a bike if I wasn’t sure how long I could stay to use it. I’d hazard a guess that I’m not alone.
I hope you can go home and rent a bike, get a job and place to live after jetting round the world .You will realize BDA is not only ones suffering because of corporate greed in America!!!!We were under an illusion that the good times were here today when we were only experiencing being a part of a pyramid scheme THATS WHY EVERYONE IS BROKE!!!Tricked into bogus investments!
There are a lot of businesses hanging by a wire. There will be more closings in the coming months. Really bad news.
PLP screwed the pooch.
I never thought I would see the day with so many closures of so many “old” Bermudian businesses! WOW!
Another one bites the dust. It is all the fault of the world recession according to the koolaid drinkers. Easy to ignore the obvious for them. IB people, who buy &rent cycles, in their world have not been leaving ..
Egypt, Greece, Italy, SPAIN, USA, ENGLAND, FRANCE, all are having extreme economic problems and for a 20sq mi island that manufactures and produces nothing I say we are doing pretty good once this is added to perspective.
You keep telling yourself that. Maybe in your head it makes all of the mismanagement of funds go away but the reality is much different.
Why not look at Australia & Canada? They are doing well….
As a small, well governed (used to be until1998), conservative, stable Island, we could have held our own and survived this without all the pain we now have….with much more to come.
Oh, sorry. That’s a “plantation” idea!
I’m going to open a retail store selling blinkers. It’ll never close!!!!
You will close, unless the blinkers are green with a PLP logo.
umm at “slick”, England is NOT having problems. In fact, they have too many jobs to fill and not enough workers. Anybody don’t believe me? Check out gumtree.com and go under jobs..my a$$ is moving out there very shortly if I can’t find a job very soon (been out of work for 6 months)
Heeeyyyy i never knew about this sale!!
This so sad. Whites, Wheels. Its this trickle down effect happening again. Sending back the expats means no buying of bikes no buying of groceries, it goes on and on.
Houses not being rented for the amount the landlord wants because the expats would rent them with housing allowance from their company. less teachers needed because kids are leaving the island with their expat parents.
Something really needs to be done and fast.
Sad part is that Government remains over employed while private business cut back or just cut a trail. Makes me wonder how/why Government are behaving as if they’re operating in the mid 90′s when BDA peaked economically and collecting 1/2Billion in taxes, duties, etc. Ministry of finance only know how to borrow against our ‘good name’ to continue tredding water….wish elder Cox, Browne-Evans, were around…..geeeeezzzzzz
Bermudians want bermuda themselves…well their gonna get it…they treat the ex-pats like they own them a living when in fact without them they’d have no means to live !! Ex-pat will move on ..only Philippinos and the Islanders will put up the treatment and average wages !! Becareful what you wish for bermuda !! Your gonna have to legalise gambling to have any future !!
On an Island as small as Bermuda, where are all these laid off citizens going to find jobs?
The global economy contributes sure …. but poor management and cronyism have left us in these dire straits for sure.
Tourists might have rented more in previous years….however, bet it was more the lack of cycles being sold…due in a considerable part to not a lot of expat workers coming in and locals not being able to afford a new bike either…
The true knock-down effect of the PLP’s anti foreigner policies is so apparent now….
it is affecting us all – the UBP might not have been perfect but I understand they always ran the country without any deficits.
Understand the Gov’t is taking longer and longer to pay their bills now…
“Understand the Gov’t is taking longer and longer to pay their bills now…”
Yes, this is true. It’s the sign of a failing business, even worse in a government. It’s a sign that Govt’s financial position is worse than they admit and they are trying to keep a lid on it until the election is over. Revenues are way down.
They must pay you idiots to come on this website and post on every news story that this is the product of failed govenment policy…. hows about looking at the business owners and management… this is happening all over the world!!! People are out of work, businesses are closing, etc. We were told this was going to happen (w/w recession)… now we are all surprised that it has come to our shores. Maybe we need to look at the way we run our businesses to see how we can in fact help ourselves. I have been in a few local establishments and credit to some but most have poor customer service, poor selection and poor quality mercahndise. I know it cost money to have things on the shelves but a common practice is to see what the consumer wants and bring that in instead of what you think we want to buy and it sits on your shelves collecting dust. Simple supply and demand concept. The governemnts (whomever they may be) job is to provide infrastucture and a safe environment for you to do business it does not have to supply customers to your stores… you do that with effective marketing (which is horrible here! we still think the old way in if “we build it they will come”) offer incentives (to rent cycles in this case. I wonder how many of the thousands of IB were approached by this company and offered a flat rate for short and long term employees). we have to be creative and diverse if we are to be successful in getting out of this recession. We all have good ideas, we just have to stop complaining and offer them. Lets forget about this politics for a minute and come together to help each other. I think we all have to be honest and say that no matter who wins the next election this trend will continue. There is no silver bullet here that any Premier, Premier to be, Minister, Senator, etc. has in their pocket that will stop this from happening….. Blacks & Whites, young & old, rich & poor have to come together in this country. If you’re not willing to then please stop complaining because you are put of the problem and not the solution…..
Finally someone who makes a comment with reason!
You’re right. There,s no silver bullet but there are sure a lot of nice, shiny GP cars, with a Big Blue Beemer in the lead!!
@ Argosy…and your statement would suggest that if we didnt have those cars… Whites, Wheels et al would still be here… come on now now lets comment maturely… i challenge you to focus on a “solution” and present it… if you dont reply… i will understand…
Thank u for saying what I was thinking! Companies who manage and sustain in bad times are the ones who think outside the box get creative…it’s called Change/Crisis Management…the strong and willing survive! Thank u again for this outlook.
your wrong…there’s no reason 66 thousand people cannot look after themselves !! It a concert !!! A football stadium !! your all stupid..lazy ..bluggers !! you deserve what you get …your entitled to nothing and expect the world !! Pull your head in and look for answers Not excuses !!
Make people feel safe an they can live an spend their money! Every man 4 himself now days no one cares in what was such a beautiful place to live PLP have no plan 4 the problem cause they busy filling the pockets up an driving nice cars live in nice houses an catch planes like taxi an Bermudians sit there kill each other an don’t stand up to the PROBLEM who is BENIFITING off it?
Yeah, I am sure the PLP has something to do with this…fair enough. But have any of you had to deal with Wheels on a customer service basis? THEY SUCK!! And their products (Peugeot cycles) are (for a loss of a better word) SH#T. of couse it is all the PLP’s fault – now dont go accusing me of being a PLP loyalist – you will be hard pressed to find a more libertarian principaled/small government advocate than me!
I am just saying that shoddy business management may have a little something to do with this as well.
And please remember that Bermuda survived for over 360 yers before the initial wave of EXPATS and will continue to do so. Ask yourselves this question my dear expatriat worker? with Global economies suffocating on out of control debt spirals, is returning to your motherlands going to be any better than the situation you are leaving here? I mean if the global crisis is that bad (and all metrics indicate that it is indeed worse) do you not think you are going to be in for hard times upon your repatraition?
You cannot blame the PLP when you go back to Canada, the US or England and see that your governments (in collusion with their masters the Banks) have ruined your childrens and thier childrens! Future as well…good luck blaming the PLP then – in short it is the monetary system that is failing – as it was indeed destined to do (with a debt/confidence based economy)
So give it a break already with you weak rhetoric blaming the PLP for everything.
Usually, people who obviously have nothing better to do write in these columns making little logical sense. Finally, someone with a bit of brains has something sensible to offer. Thanks for your comments.
indeed.
Bermuda is almost all expats of one form or another. Despite the PLP’s propoganda machine, it will be impossible to find a “real Bermudian” who doesn’t have the bulk of their blood comnig from people who came here by choice looking for a better life.
The initial wave was in the 1600′s, and the 1700′s, and the 1800′s, and the 1900′s, and continues today – get a grip
Well said Dinosaurmedia! For once, I enjoyed reading someone’s commment without getting the urge to put my finger down my throat.
Thank you Dinosaurmedia for posting a logical comment… I agree with you.
SMDH at all the other garbage posted here.
Dino Is On point, to add to that excellent statement we have not even seen the real recession/depression yet when America’s Federal Reserve finally allows the collapse and stops printing “Stimulus” money or China/Japan dumps the dollar as a reserve currency and raises the value of their currencies, the true unstimulated recession will occur.
Ummm, how did Bermuda survive for 360 years without expats. My history books say Bermuda was uninhabited. Hate to burst your Bermie bubble, but everyone is really an expat here, unless you are a cahow or perhaps a skink. So, the first expats arrived over 400 years ago on the Sea Venture. So the original continious residents to this Island were English, so get your facts straight, or do we conveniently forget that, like the how we should also forget the last 10 years of this govt.
I Suppose Americans are really British then huh? wake up you idiot, I was born here, so were my parents and their parents! Get a grip!!!Britian is the biggest melting pot!!cause they caused the wars which forced people to be placed all over the world.. Since EXPATS are considered people who come here to work for a period of time,I am hardly in that category, whether I work on not I LIVE HERE!!!!permanently.
To everyone that blames every closings on the current government… I certainly and sincerely hope that the OBA is all that you want and more. It sounds like as if in the first 100 days of the OBA coming into power.. crime will be down 75%… BELCO bills lowered by 50%… tourist arrivals on planes up hotel occupancy up by 60%… 0% unemployment… new international business up by 55%…national debt down to $500m… I am not happy with the current government either, but please get a friggin life.
unfortunately it’ll take years for the OBA sort the mess the PLP have created. The money which has been squandered away can never be recovered. To fix the economy will be a painful experience, wages will have to be adjusted, freebee’s taken away. The poisoned mindset will have to be cleansed.
Wheels wasn’t the best of cycle stores, once the economy starts to falter, the weaker companies will start to fail. The PLP hating on expats doesn’t help, they rent and buy bikes, need repairs. With 6000 gone, other competing bike shops have had to put on massive sales and compete with Emoo in the secondhand market.
The UBP/OBA is a bunch of **** awaiting their time to return to power. The white people on this Island have always voted for one party, the UBP. The blacks on this island are the only ones to move from one party to the next.
Only the blacks on this island can and will decide who wins the next election.
Ya really, like there’s a magic OBA wand that we save us….PLP got overly excited with their new found power and got carried away (at least one in particular to whom I did not vote in) HE started the mess while the others (PLP members) stood by and watched. That was the beginning of our downfall and no matter what our Finance Minister does now will ever make up for the hugh deficit we have now and nor will the new Gov’t(if we’re so lucky)!
It’s a damn shame there is hardly anyone in power you can look up to(locally or abroad) with sincere respect/admiration…not in this country as far as I can see. So sad for our youth or future leaders – no example to be led by. SMDH
Why is it that the only people talkikng about an OBA magic wand, or OBA quick solutions, are PLP supporters?
I’ve never heard anyone from the OBA use those terms, or imply that the solution to Bermuda’s problems would be fast or easy or both.
But perhaps I’ve missed something. Because otherwise, wouldn’t that just be deceptive politicking on the part of PLP supporters?
EW
Mickey: The point of view I and most sensible Bermudians are taking is that nobody could possibly do any worse than the current PLP jokers.
So Mickey: I would vote for a bunch of dog turds to run our country rather than the PLP. I suspect they might do a better job too!
It is you sir that needs a life – you clearly don’t have one if you still believe in the PLP.
You must be talking about all the blacks on this Island. Cause trust me it’s not the whites that decide who wins! Ask Dunkley or Bob they know the truth.
I dare anyone to take the time to read the attached links and then still insist that all is the PLP’s fault – A GREAT PART of our economic woes are to be blamed on them for sure but i am looking for a more “global” debate –
http://theeconomiccollapseblog.com/archives/are-the-government-and-the-big-banks-quietly-preparing-for-an-imminent-financial-collapse
http://theeconomiccollapseblog.com/archives/11-things-that-can-happen-when-you-allow-your-country-to-become-enslaved-to-the-bankers
Dinosaurmedia I believe you just further blamed the PLP with your articles….They point out what happens when a Government borrows incessantly to fund themselves…Greece,Spain, Italy are all bigger versions of Bermuda and what happens when a reckless Government with a Finance Minister of limited skills and knowledge attempts to borrow their way out of debt….we get closer to collapse everytime Paula goes back to the debt well so it is The PLP’s fault as Bermuda was one of the few places where your Global Recession could have passed by…sorry try again
Look at my post again I sated that governments are the cause of this as well as the debt based monetary system (read banking institutions that can issue fiat currencies at will)- so of course the PLP is part of the problem – it is just that on this small island myopia is rampant and what we are facing is the pencil tip of the larger picture my firend – so YOU please try again if you feel that bemuda could have EVER evaded the Global Depression which is sinking its teeth into nations everywhere.
Pull your head out of the sand – If you need to blame the PLP solely that is fine I wont wast my time arguing with you there
But as long as our dollar is directly pegged to that of the US the inevitability of their failure as an economy will in turn dictate ours.
Dude, the US economy is growing (albeit weakly). Ours is in free fall.
Dude, if you say so. I could provide you with at least 30 non-government funded reports that clearly suggest otherwise…but i do not want to do the legwork for you so get out there and do some research…
time will tell who is right/wrong in this debate. But I am sure that you will not disagree to this – one would be wise to prepare for a long winter.
The USA is growing into more debt to China on a daily basis, they can print all the money they want,but they still owe trillions of dollars to china and outsourcing was their problem and has become ours.. Now that economies world wide are in a downward trend even China has had huge layoff in the US funded industries. All because of worldwide greed and underestimating the 99%!
Dinosaurmedia- Here’s some tips as to how we could have avoided the amount pain we are in.
1. Put Govt project out to tender to ensure that we get the best price for projects. The PLP didn’t do this.
2. Hire competent Project Managers- That would have saves us at LEAST 100m is cost overruns. –100 MILLION, but I am sure the real number is a whole lot more..
3. Develop some moral courage and integrity. If the PLP had that they would have stopped EB in his tracks instead of standing on the sideline watching as he wreaked havoc on our finances.
4. Be open for business. We have cut off our noses to spite our faces when it comes to our guest workers. For every senior exec that leaves, that’s significantly less revenues to many Bermudian businesses.
5. Govt has no business being in the real estate business. That abortion on Southshore is millions of dollars worth of an ill conceived plan executed poorly.
The interationsl economy (which is bad) has no impact on any of those factors I listed above. Our pain is home grown my friend, recession notwithstanding.
Agreed.
6. Care was not taken to ensure that part of the revenues in the platinum era was tucked away for a rainy day. I believe there is an old parable along those lines of saving for a rainy day.
The fact is Bermuda could not have escaped the world wide-recession. We could have, and should have been better prepared and that is a fact.
Paula will be having the election before Christmas. She has to have it before February 2013.
Yup she will wait until all the educated people that she feels are threats to the PLP vote are either on vacation or away in school to lessen her chances of them voting against the PLP.
And before any of you start running off crap I remember the 1998 election very well and was a part of the fund raising to bring voters home that were sure votes for the PLP.
ONCE BITTEN TWICE SHY…THAT IS SOMETHING I WILL NEVER AGAIN BE A PART OF!!!!
I think you are correct: The election will be called around the end of September – after the last of the well educated people have left for school, and will take place mid November before they start to come back.
Expect the race baiting to escalate dramatically in September. Its all the PLP has to offer.
Make the black man angry at the white man, and vote accordingly.
You people are sick! Do you even hear yourselves? “Well Educated?” PLEASE explain this to you fellow Bermudians what you mean by this? I’d be really interested. It’s no wonder a certain portion of the populace REFUSE to align themselves with the “other” parties following. There are plenty of “Well Educated” swing voters currently WHO ARE NOT OR WILL NOT be away in school, but after reading these derogatory comments and bigoted views, there is NO WAY my vote will be counted with these type of peoples.
C’mon mixy , don’t get your knickers in a twist over a misunderstanding (on your part)
I took no offence to it as a reasonably intelligent person .
They’re referring to the ‘ratio’ of educated people available to vote .
If all the university goers who have only known a PLP government are away in school ,that doesn’t mean that there’s no educated voters left on the island. Just a lower ratio of them , that’s all . Thus , less of a threat to the PLP.
Stop worrying about what other people post on here sometimes and start worrying about what’s going to be best for us all politically at the next election.
Educated people are those that can see things with an open mind and make an unbiased decision based on right and wrong, and what is best for our country, not our color!!!
As a mixed Bermudian who is a PLP registered member for a number of years, the party that I have defended and was proud to be a part of, in my eyes, no longer exists. The party that I voted for and stood proudly beside in 1998 and before has changed drastically and not for the better. All that I have sacrificed for and built up for my children based on sweat, blood and tears is depreciating in value, not because of MY neglect but because of my dark skinned children’s inability to get employment etc in THEIR own country! How can I honestly look them in the eye and preach PLP history to them when they see absolutely none of it now? So don’t come with foolishness of bigotry to me.
She’s going to hold off until an Obama victory is on the cards and then hope to ride in on the wake from his wave of euphoria…..just you wait and see!
@unbelievable… be careful when acting on emotion… it often leads you to the wrong decision… you saw these values in the PLP due to being ostrisized by the UBP of the day. now that propaganda has has been spread through the media you now feel that a vote back to the UBP/OBA is the right move… i know no one can tell you how to but i can tell you how not to…. leave the emotion out and get educated in what is really going on… scrutinze the information that is being fed to you and then only then make your decision…
One thing I learned a long time ago is never to believe anything I read in the media. I strongly live by by Ma’s motto to believe half of what you see and none of what you hear.
Now having said that I’ll put this to you.
PLP have had 14 years to fix things. Yes I agree that nothing can be corrected overnight and Rome wasn’t built in a day. But after 14 years, something(s) should have been corrected. Our education system is an absolute disgrace. Prison’s get more then students and we wonder why they are full. Yes UBP designed this to fawk over our children, but after 14 years this could have been corrected. Bermuda is one of the main players in International Business yet our children are not being taught to compete in this arena. Where are the tech schools to train mechanics, electricians etc, any type of trade, so that we don’t have to advertise and import workers in these fields. Why is it that after 14 years, we have failed so many of “our own kind” or “people that look like us” and now have a generation that has to resort to making decisions to serious crimes in order to provide for their families or starve? Why was something so unexceptable that was being done to “us” by “them” so quickly being accepted now with the excuse that “they did it to us for 30 years” and all of a sudden it makes it ok. We voted for change NOT more of the same. Just because it is now happening to us by our own makes it worse not better! How am I supposed to look at my children, whom I have pushed to excel above all expectations, struggle day in and day out to support their families because they can’t get jobs because they are either over qualified or under experienced. And yes, they have walked the beat and trying to get any and every type of job out there. Do you think its easy for them to know they have to live off me knowing full well that they should now be quite capable of standing on their own two feet? I am so sick of all the media bs yes, but I am even more sick of having to stand by and look at the BS that this Government, who we thought was going to bring about equality, level the playing field, and a better future for ALL BERMUDIANS, piss on all of our heads!
Dang, @ Unbelievable, I could have written your post myself, almost, except I can’t persuade my son to come home, even though he once knew he could get better paid here, because Bermuda is too small-minded, and my daughter won’t bring her son back because he and his friend were jumped by some youths the last time he was here who stole his chain, hit him in the head and broke his friend’s jaw after knocking him unconscious.
This Government either won’t listen to suggestions or if they do, they implement them in a half-a$$ed fashion. If I were the OBA, I wouldn’t reveal my platform either, for fear my ideas would be hi-jacked and then jacked up.
They won’t admit when they are wrong or make a mistake, but blame everyone else. Its so childish, like playground taunts of “I got you back” and “take you that.”
By the way, the current scuttlebutt is that the election won’t be called till after Madame Cox has been Premier for two full years, so she can qualify for a premier’s pension – yeah, some looking out for the Bermudian economy.
Re Wheels closing – I am sorry to see them go, as I used to work there. However, I have to say, management changes were not for the better. Staff were always polite though.
She’ll have to have the election before Feb: otherwise it would overlap the budget leaving Gov with (errr) no money. My bet is before Xmas.
If she decides to hold the election at the last minute, she’d need to pass an early budget. It’s allowable but has never been done. But I doubt she’d want to do that as it would lay bare many of the financial problems that they are scrambling to obscure.
Good!!! Their bikes and customer service are both garbage. Anyone who has ever purchased a bike from them can’t feel sorry.
Non-existent customer service to be precise. I dreaded going into that store. I don’t think any of them knew how to smile or treat customers. I’m only surprised they managed to stay open this long, I expected them to close years ago. Market Place must be ignorant about what customer service entails, and must have been carrying them all this time, says a lot about Market Place.
Economic conditions is not what did them in. Other bike rental and sales shops are coping fine, Winners Edge and Oleander Cycles are doing fine thanks to excellent management and superior customer service.
When things were going well, there was room for competing businesses.
Now that we are in the toilet thanks to mismanagement of the economy having moved away from conservative money polices. We are headed to monoplies and a higher consumer price index.
Under conservative money polices Bda was able to hold it’s own from external economic pressures.
Not the case now.
Rumor has it that Bermuda Motors has bought Wheels. So we will wait and see
There’s nothing left to buy. No stock, no competitive brands, no goodwill and the name isn’t worth anything, only the building is worth buying – at the right price.
My husband and I seen this article posted so we went to look at wheels today to see what they were selling. We found that the store is closed and that all they are selling are the rental bikes for $400. One of the workers came to the gate to answer questions as there were 5 or 6 people outside. He said that they have been having a 50% off sale for the last month. I haven’t seen any advertisments; we are not in that part of town often so we didn’t see the signs. Did they advertise? If they haven’t done much advertisments maybe this is part of the reason for them closing?!
I think BAC Mills creek could be next. Because I went around there at 4:50 to the showroom to get a quote for some things I need to renovate an apartment but before I could make it to the steps I was insulted and laughed at by the warehouse staff who was standing outside by the loading dock. Telling me that they knock off at 5 where was I going and I need to leave. I then went up stairs to speak to a manager and when ask by him to apologize they could not remember what they said. Yah right. I will not be shopping there anyMORE.Final. Ever.
Let’s be real – yes, the PLP probably contributed to about 25 per cent of this mess. There is a recession all around the world, why do people think that Bermuda would somehow escape it? Baffles me. I worked in the reinsurance industry and many have had huge losses so of course this would affect our economy. I have seen business lunches go from everyday to once a month which greatly effects our restaurant industry. The executives travel less, so this effects the travel industry etc. So although PLP has done far from a fabulous job of running this country, much of this would have happened anyway. I mean how do you blame PLP because visitors do not come to the island. It’s a recession people, people around the world are not travelling like they once were, they are simply trying to make ends meet. Many expats are leaving the island because THEIR EXEMPT COMPANY JOBS ARE LETTING THEM GO BECASUE THEIR BUSINESSS IS NOT DOING WELL which is not a problem Bermuda created!!! Oh, and no I am not voting PLP actually I refuse to vote at all this time around. Bring back the genuine type of politicians like Dame Lois Browne and Sir John Sharpe and then I’ll cast my vote.
oh goodness don’t bring back lois browne..more ‘fornicating in d’bushes’and more strays to feed,house and put in jail..u fool dont u know how much it cost to build this gigantic jail for such a 21 mile island???do your math and shut up..
Give the exodus on the expats a break; it’s old and not amusing. This issue has been resolved and as with other countries there are times that their own get promoted and take over the jobs…..simple and the expats have to leave. Which they have as the earlier post suggests; Canadian economy boosted…….many of our expats came from Canada too so there you go. They send their earnings home and have built their comuunities and have left ours as is??????
I am currenlty visiting the US and by the way, we rent a home for the summer in a community which is usually 98% occupied. This year, not many renters:( The economy from I have been told is to blame or is it the expats leaving here too?
Wrong you are, @Dame Lois Brown et al. You may have worked in the reinsurance industry at some point, but evidently you’ve stopped following the results of that industry. Reinsurers across the board are doing just fine, thank you very much, with combined ratios well below 100 and significant improvements over last year. There’s some impact from the downturn, but it’s pretty minimal, and has next to no impact on operations in Bermuda. No, the deep recession that we are seeing here is primarily the creation of the current government, what with their scandalous cost overruns, widespread corruption, blatant incompetence, and continuous race-baiting which chases more and more international businesses to more welcoming venues.
Wheels was a poorly run company, offering possibly the worst excuse for customer service on the island (which is saying something!), and probably would (or should) have failed on it’s merits, but don’t anyone go blaming it on the “global economic downturn”. Bermuda’s international businesses have been fairly insulated from that.
Beware, when you buy a brand new cycle from them and the speedometer is not working nor the mileage reader a day later,you think they would offer to fix it!!!!! Not if they don’t have the part, instead they have me stressing out and send me to Ambrossa Cycles who have taken all their repairs. On the receipt it says cycles sold as is no warranty, but should this apply when the speedometer and the milege reader is not working less than 24 hours later? Why can’t you offer to look at the cables to see if something is loose instead of having me call all over the place!! I’m not a happy customer
By the looks of things a lot of business may probably be next. A friend said they stopped by a local car dealership to check out their cars and there was not much to see. I do hope everyone has a Plan B if the economy continues to get worst.