Lee-Chin (left) and Assamba (right)AIC AND National Commercial Bank (NCB) boss Michael Lee-Chin, has booked his place in the history of the Jamaican business sector by purchasing NCB for some $6 billion with the intention of placing it at the apex of commercial banking in this country.
The boy from Port Antonio has done well in Canada, becoming one of the world's richest men and has decided to contribute to the well-being of his homeland by acquiring its largest commercial bank and instilling the same core values that saw AIC become one of Canada's most successful mutual fund companies. He has made it patently clear that he is not all dollars and cents, setting up an educational foundation fund at a cost of $150 million and financially supporting the fight against AIDS.
In his first year at the helm of NCB, he has seen its pre-tax profit leap by 130 per cent to $452 million for the first quarter of 2003. Profit before exceptional item and taxes grew $102 million to $298 million for the quarter, a 52 per cent increase.
It is particularly disheartening to hear people bemoaning the fact that Mike gave $1 billion to a Canadian museum which should in some way have come Jamaica's way. How a man chooses to spend his money is his business and let's not forget that Canada made him. The tale is well known how he wrote to the Prime Minister asking for financial assistance in furthering his education at McMaster University, how he made ends meet by working the doors of the university pub, how he imbibed Warren Buffet's formula for success and built AIC by hard work and according to sound ethical business principles. So if he then decides to give a generous donation to a Canadian institution, that is perfectly understandable.
Mike may yet prove to be one of the great philanthropist of our times, perhaps not on the same level as Rockefeller, but nevertheless significant and Jamaica will undoubtedly benefit. There is a tendency not to exhibit graciousness and gratitude and a propensity to grab what we can it's not an endearing trait.
So to all you lot with your hands out, expecting a freebie or to benefit from the largesse of those who have put in hard work and built a sound future through their endeavours, here's a tip and this one really is for free: "To be successful in the long run doesn't require a stratospheric IQ, unusual business insight or inside information. What is needed is a sound intellectual framework for decisions, principles and value systems. You must have the ability to keep your emotions from corroding that sound intellectual framework." Congratulations on the revitalised NCB's first birthday and, Mike, fine speech.
MEATHEAD COPS
Is it any wonder that citizens complain that cops abuse their position and that they go about their duties in a draconian manner and in the main are uncouth and ignorant. I read with incredulity the treatment meted out to the Government Minister, Aloun Assamba, by a Senior Superintendent of Police note the word Senior.
The story goes that Aloun was waiting outside Gordon House to participate in the ceremony marking the official opening of the new parliamentary year when a senior cop perhaps obsequiously needing to exhibit earnestness in his duties, demanded that the Minister show a pass before gaining entry into Gordon House. Accompanied by two police body guards, Aloun quite rightly was indignant and could not believe what she was hearing. The cop in question knew who she was but became insistent, and belligerent, carrying on like some over-zealous guard dog taking a brusque attitude and declaring "you must have a pass to be here, you must have a pass to go in, I don't care who you are I am following the rules."
If that's how a Government Minister gets treated by the cops imagine what's it's like for the ordinary Joe going about his daily business. When you hear things like that it makes you think about that Braeton shooting and begin to wonder, what really went down. Far from running Amnesty out of town, we need to ensure that the cops carry out their duties the way they should and they should be called to account. Aloun is very personable and reasonable, not one to rant and rave and inflame a situation. This meathead cop should be sacked NOW.
If the Police Force is not led effectively and does not subscribe to police ethics and serve the well-being of its citizens you are likely to have something akin to a police state where you have a Judge Dread character parading around in sun glasses and dodgy para-military gear thinking he's Robocop.
WHY NOW'S A GOOD TIME
FOR JAMAICAN TOURISM
As the Gulf war rages on and we remained glued to CNN or those of us who know better, the BBC, there is no better time to put Jamaican tourism on the map. With the world in turmoil, come to Jamaica which is sun-kissed, tranquil and the living is easy a nice panacea for the mind and spirit. It is an opportunity the Jamaica Tourist Board should grab with both hands. Far from our tourism sector being torpedoed with bookings down 40 per cent on last year, this is the right fillip to spur it on. But that means formulating the right strategy, refining our product and getting bums on aircraft seats and over here.
Director of Tourism, Paul Pennicook, speaking to the Financial Gleaner said that that the expectation is that business should improve after the war ends and to that end they have suspended advertising campaigns in the the United States and United Kingdom. I think that's the wrong way to go. Let's ramp up advertising like we have never done before, use this unfortunate situation to get visitors over here and tailor a campaign around the war JAMAICA PARADISE IS STILL ON EARTH. Ah, well it's just a thought. Until folks.
