Jamaica Gleaner Business
Published: Monday Friday | January 9, 2009
Walkerswood in trouble - Ian Garbutt leading US$8m rescue
A consortium of Jamaican firms, led by Ian Garbutt's Associated Manufacturers, is offering to pay creditors of Walkerswood 25 cents on the dollar on its more than J$1 billion debt, under a court-approved scheme which, if accepted, could save the manufacturer...
H&L cuts 80 jobs in restructuring
In the face of sluggish demand and worsening local and global economic conditions, Hardware and Lumber Limited (H&L), operator of the popular Rapid True Value chain, is battening down - shedding staff and a loss-making outlet in the process...
Campbell's role expands as head of GK Investment
Courtney Campbell, who joined the GraceKennedy group eight months ago to head a new holding company for the group's financial services subsidiaries, has been promoted to be the boss of GK Investments - the vehicle that holds all non-food operations...
Flow has US$100m on call - Says economy won't squeeze spending plan
Flow Jamaica will miss its original deadline to blanket Jamaica with subscriber television coverage by two years, but says the company will not be cutting back on its capital investments having already secured credit. President Michelle English says Flow...
Franchisees want Total to leave retail market
Jamaican service station franchisees of the French oil company Total want the firm to pull out of the retail end of the business here, thereby leaving that segment of petroleum market to them. Total's boss in Jamaica, Luc Maiche was not immediately available...
Retailers report dismal December sales
Retailers in the United States reported dismal sales figures for Decem-ber on Thursday as even Wal-Mart Stores Inc, one of the bright spots in the industry, finally buckled under the pressures of the deteriorating economy. As the figures confirmed fears...
MOVEMENTS
H&L appoints a deputy - Dave Myrie, who joined the GraceKennedy group in 2007, has been promoted to chief operating officer/deputy CEO of Hardware and Lumber Limited.The appointment, which took effect January 1, makes Myrie second in charge behind...
Picking the best point for Jamaica's economic transfusion
Comparative advantage dominates discussion of trade and economic policy. It translates to the notion that dissimilarity among countries accounts for trade patterns. The reasoning? If a country produces something more efficiently and cheaper than another, it will trade ...
