Bad business

One regional reader sent me a message with this scenario:

“Dear Nicole, I recently had a business interaction that left me with a rather bitter taste in my mouth, and I wondered if perhaps I was over complicating the issue. I was on the market to purchase a luxury yacht for leisure use, and was in heavy negotiation with a potential seller. After a number of meetings, viewings and negotiation, I finally agreed upon a figure and set a date to undertake an engine and run test, and to complete the transaction. To my utter surprise, as I arrived at the marina, I saw the owner of the said vessel, undergoing a site visit with another buyer. The owner also had the audacity to invite me to sit and wait whilst he was finishing up this process. Now, I understand this may be trivial to some; however this was a very heavy weighted decision for my retirement which my wife and I did not take lightly. Am I overreacting? Or was this seller’s behaviour completely unethical?”

My response to the writer began with an overview of business ethics, which according to investopedia.com, means the study of proper business policies and practices regarding potentially controversial issues, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility and fiduciary responsibilities. Law often guides business ethics, while other times business ethics provide a basic framework that businesses may choose to follow to gain public acceptance. Even though this can be considered the academic overview of what is accepted behaviour in business operations, the underlying matter that binds all transactions in a business context is trust. In any culture, country, organisation or corporation, if trust is not developed and maintained throughout the business interaction, then more than likely the transaction will be shaky at most.

Based on the scenario above, there are a number of red flags that provide a good benchmark for the transaction to be seriously reconsidered. The first being the breach of trust, the second being the lack of respect demonstrated by the seller. Based on the information provided, the seller clearly would have been afforded the same insight you have provided to me, including the fact that this is your retirement investment plan, which means, you would also have an emotional investment into the purchase. It stands to reason, the seller sought to utilise this intelligence to his advantage, thinking that perhaps your emotional connection to advancing your retirement plan could be manipulated thereby encouraging a faster, and perhaps higher sale price. Further, the complete lack of respect demonstrated by inviting another buyer to view at the cusp of your closing the sale demonstrates a lack of transactional intelligence by the seller. This can also be construed as another means of pressuring you into purchase at a higher bid price, but the demonstration of high interest by others. This seller has broken two fundamentals in terms of reputable transaction management, trust and respect. Think carefully before you proceed.

I submitted this feedback privately to the reader, and was provided an update, which stated:

“Dear Nicole, thank you for your feedback. After a few checks on the background of the seller, we realised this was indeed his modus operandi [attempting to manipulate a price hike], and declined to proceed with the sale. He still has the vessel in his hands, and has reduced his asking price.”

One Island concert to assist Barbuda

“It promises to be a spectacular event as the people of TT and the region will come together to raise funds to rebuild Barbuda,” Fabien said.

Over 170 artistes will be performing soca, calypso, chutney, tassa, dancehall, reggae, comedy, theatre and much more.

Assisting Fabien in the concert’s presentation is No Laughing Matter, a group of conscientious and professional individuals within the theatre, arts, media, cultural ambassadors, business, and people with a passion for TT and the Caribbean.

One Island will feature 12 hours of performances in aid of victims of Hurricane Irma which battered several Caribbean islands including Barbuda. The public is being asked to make a contribution of $50, together with three canned items (expiring not before 2018) or a case of water at the event. “We have a 40-foot container on site waiting, and it will be stuffed as items come in, and on Monday the container is going to leave the Oval and go to the port to go on its journey,” Fabien said.

He is hoping to raise $1 million to assist in the rebuilding of Barbuda.

“The impetus is for Barbuda because when we saw the other places that were affected by Hurricane Irma we knew they have help from some other countries because they are Dutch or French or English.

But Barbuda have the Caricom.

We are Barbuda’s big brother so we are seeing about them.

Therefore One Island the Concert is reserved for Barbuda.” With the residents having all been evacuated from the island since Irma, Fabien noted: “Barbudans are all living with families in Antigua.

So that is why we need the help of people on the ground to get items to these specific people, hence the reason we are working with the HALO Foundation, an Antigua-based NGO.

They have been doing work there for a long time just as Feel has been doing in TT .” He then stated that ambassador Gail Christian from Halo will be coming for the event while Gaston Browne, Prime Minister of Antigua and Barbuda has sent his appreciation and his love, and the people of Barbuda, their gratitude.

Among the artistes who have confirmed their attendance are Blaxx, Shurwayne Winchester, Teddyson John (St Lucia), 3canal, Vaughnette Bigford, Ziggy Rankin’, Ronnie McIntosh, Orlando Octave, Baron, Michelle Xavier, Isasha, Swappi (Grenada), Myron B, 5Star Akil, Kevon Carter, Johann Chuckaree, Dane Gulston, Denise Belfon, Pternsky, Jason Seecharan, Adesh Samaroo, Raymond Ramnarine, Neval Chatelal, Sharlene Flores, KV Charles, Oscar B, Christian Kalpee, Asten Isaac and Nadia La Fond.

Performances will also come from top dance, parang, spoken word artistes and popular DJs. Also listed are Imij & Co, Los Alumnos, Malick Folk Performers and Wasafoli, Shiv Shakti dancers, D C Shell Theatre — Bollywood Dance, Wendy Sheppard, Lujoe & Gifted, Freetown Collective, Militant, Rembunction, Chantwell, Prince of Theatre Darrion — spoken word, Ninja, Allan the Entertainer, Rodey, Hamidullah, Bon Bassa, Leandra and Tyler Head, Anuradha Hansraj and Nigel Rojas.

Fabien is also hoping that Alison Hinds and Rupee will be able to make it.

Knight Riders capture South Big Bash Windball crown

Knight Riders, who chose to bat first after winning the toss, compiled a total of 68 runs for the loss of six wickets after their mandatory 10 overs. Junior Johnson stroked an unbeaten 19 runs while Shiva Roopchand and Harvey Rampersad contributed 15 and 13 respectively .

Strikers’ Kishan Baliram claimed three wickets for two runs while Brandon Harrylochan copped one wicket for 13 runs .

In their run chase, the Strikers were not able to reach their target, despite Jason Jairam’s topscore of 22 .

After their 10 overs, Strikers could only get 52 runs for the loss of two wickets. Johnson also contributed with the ball as he claimed one wicket for six runs, including a maiden wicket over .

Marcus Serattan got the other wicket in the innings as he went for 16 runs after his two overs .

In the end, it was the Knight Riders who walked away with the trophy, bragging rights and the $8,000 jackpot while Strikers had to settle for the runners-up prize of $5,000 consolation prize .

Johnson was named as the Manof- the-Match .

Teams – KNIGHT RIDERS: Suresh Baal, Harvey Rampersad, Hyden Rampersad, Shiva Roopchand, Jarred Phillip, Zard Clarke, Antonio Samlal, Brandon Ganga, Junior Johnson, Marcus Serattan, Michael Jordan, Shyan Moonwha, Reynold Jerome .

STR IKERS: Jason Jairam, Hanuman Moonsammy, Dave Baboolal, Brandon Harrylochan, Dalyon Angard, Dilip Ramnanan, Raphael Teeluck, Nishan Sookhoo, Joel Gayah, Steffon Roopnarine, Ricardo Martin, Narin Rampath, Kemchand Deosaran, Kishan Ballira .

Teams join to clean-up coastline

Approximately 80 people comprising of staff members, family and friends from these organisations, alongside hundreds of other local enthusiasts (at different locations) and millions throughout the globe, helped promote ocean conservation on this day.

Vice president of marketing at TSTT , Camille Campbell, commended those who came out in their numbers to assist in the ICC activity.

Brand ambassador, Dwayne Bravo, was on hand to support the beach clean-up following his hectic but victorious Trinbago Knight Riders Caribbean Premier League T20 campaign.

“Both locals and tourists come to this beach and it’s good to see that bmobile has taken the lead when it comes to the upliftment of the country. For me personally, I saw it fit to come and support these volunteers, who took time out to help make this country a cleaner place, for all of us to enjoy. I’m also happy to see many kids out here today assisting in this effort to preserve our environment,” he stated.

The ICC initiative, held annually on the third Saturday in September, was coordinated on a worldwide scale by Ocean Conservancy Office of Pollution Prevention and Monitoring, and presented—in its 13th year locally— through the Caribbean Network for Integrated Rural Development (CNIRD)

The key to your success is not intelligence

Many of us who sell services often think that we haven’t quite found our passion. We move from industry to industry, change jobs but still find that after the glow of the new job fades, we’re back to square one – feeling unfulfilled. Not that we can’t do the job. We are more than competent but there’s something missing, and we can’t quite put our finger on it.

Your success is based on the convergence on the following:

Clarity. Entrepreneur Peter Voogd says that in a world filled with so many options, mindless distractions and evolving technology and information overload, it has become extremely difficult to gain clarity. Most entrepreneurs haven’t come to grips with how important clarity is and how big a role it plays in their success. Clarity brings confidence and confidence raises standards.

Many times we’re advised to follow our dreams, identify our passions, do what we love. If you’re here, stop. I think it’s more important to figure out how you’re naturally wired to perform. What’s your behaviour pattern? Do you like to build on things, do you like to solve problems, do you work best under extreme pressure? Don’t for one second think it’s not important.

Dan Sullivan, founder and president of the Strategic Coach Inc explains it this way: “Has anyone ever encouraged you to improve in areas where you struggle? If you’re like most people, the answer is yes. This is how most of the world thinks and operates. But does it truly make your life better? Do you absolutely love doing it now that you’re better at it? Our guess is no it doesn’t, and no you don’t. Your unique ability is a completely different mindset that honors your natural strengths, what’s already within you and comes most naturally to you. It’s you at your very best —the way you create your best results and what people count on you for. Even if you do have a pretty good idea of what you do really well and are really passionate about doing, you might take it for granted. Most people downplay it, thinking anyone can do what they do, but that’s simply not true. You have a unique way of doing what you’re best at because of who you are as a person — your personality, your unique experiences in life, your natural hard-wired talents… no one is exactly like you.”

This is your zone of genius. You must get clear on what this is for you.

Next you need to do something that creates value and can be sold. We often love to draft strategic plans but to have a REAL strategy, it must really matter to your existing and potential customers and it must differentiate you from others in the same field. You get clarity around this by asking your present AND potential customers. Let them know what you’re designing and find out if it is of value to them.

You must figure out a way to get their attention. Michael Zipursky found of Consulting Success shares this: “The fact is, every [service professional] is different and requires an approach that is a fit for their goals and circumstances. More Facebook advertising or social media posts won’t necessarily help you. Learning how to do cold sales phone calls won’t change things much. While the people pitching you those tactics may be qualified in teaching them, they are far from qualified in teaching you the timeless and powerful fundamentals essential to building a successful practice.”

And finally you need to have a sales conversation. Without it, you won’t get paid for your solutions.

What you need is a clear mind and deep focus on each one of these four steps to execute them properly. Take Michael’s advice: If you’re spending all your time dabbling in different marketing tactics without giving these four steps the attention and care they deserve you’re leaving money on the table.

Let’s plan for Qatar

The remaining 2018 World Cup qualifiers are of academic importance, possibly a good lime, because the Road to Russia has been bombed.

Already the argument of local coach versus foreign coach has reared its ugly head and the long knives have been drawn.

My view is that we need to stay local with coach Dennis “Tallest” Lawrence. He could at least tweak his coaching staff.

Frankly, the fluctuating quality of play, the individual defensive errors, the gun-shy approach outside the box and lack of fitness by some players were key factors in derailing our campaign.

We also did not make use of our opportunities.

I hold the view that every player must bring his A-game and agonise over poor performances. The team lacked the killer instinct moving as a force to demolish opponents.

At the end of the campaign moving forward, I would like to see football jefe David John Williams put on an “ideas shop” where all stakeholders and fans can have an input in the way forward. After sifting through the noise, he and the Football Association will have a clear idea on the pathway to Qatar.

KEITH ANDERSON via email

Treating with disaster needs now

Territories impacted most by these storms include Dominica, Anguilla, Barbuda, Saint Martin, Turks & Caicos and the Virgin Islands, Antigua, the southern Bahamas, Cuba, the Dominican Republic, Haiti, Puerto Rico and St Kitts & Nevis. Barbuda was said by its Prime Minister to be “uninhabitable”, as was the case with several areas in southern Florida, especially the Keys.

BMI Research has announced that they expect substantial negative impacts on real GDP growth across the region, as much of the local infrastructure has been damaged or destroyed and the tourism industry is unlikely to rebound in the near future. In some smaller economies, most notably those of the ECCU and the US Virgin Is lands, there is increased risk of a credit event.

While accurate data on the extent of damage will likely not be available for some time, media reports indicate that the destruction is likely to be severe on islands directly hit by the storm. As a result, in the days ahead, forecasts regarding economic growth will need to be revisited for impacted countries and territory, for both 2017 and the years thereafter.

There are several precedents in the Caribbean for the damage done by Hurricane Irma. Most notable is the case of Grenada after Hurricane Ivan in 2004, which damaged or destroyed more than 90 per cent of structures on the island. Real GDP growth fell from 8.6 per cent in 2003 to 0.1 per cent in 2004, due to collapses in the agricultural, manufacturing and tourism sectors. Grenada defaulted on its debt as the storm hollowed out the country’s revenue base and forced the government to ramp up spending on recovery efforts, undermining its ability to service its obligations. Similarly, Montserrat’s real GDP growth slowed from 8.6 percent in 1988 to 3.0 per cent in 1989 following Hurricane Hugo, and Dominica saw its real GDP contract 3.7 per cent in 2015 after being hit by Tropical Storm Erika, following a 4.0 per cent expansion in 2014.

It is expected that reconstruction efforts, possibly fuelled by foreign grants, would see economic growth rebound at a rapid pace after major storms. In the case of Grenada, real GDP accelerated from 0.1 per cent in 2004, when the storm hit, to 12.5 per cent in 2005, in large part due to 90.8 per cent year-on-year growth in the construction sector. This suggests that some of the islands impacted by Irma could see a “V-shaped recovery”, marked by a rapid re-acceleration of real GDP growth. However, the capacity of each economy to recover will depend on the availability of external financing, as most are unable to fund this process themselves. In addition, depending on the extent of damage, a return of the non-construction sectors to pre-storm activity levels may take several years given the extent of damage reported, as well as shallow domestic capital and labor pools.

The extremely limited fiscal capacity of domestic governments in several cases will make the Caribbean heavily dependent on outside grants to finance rebuilding efforts. It is possible that those islands which are overseas territories of larger, more developed nations are likely to rebuild at a faster pace in the years ahead, as they will have greater access to substantial relief funds. Anguilla, the British Virgin Islands, Sint Maarten, St Martin and Turks & Caicos are overseas territories. Antigua & Barbuda as well as St Kitts & Nevis are not, suggesting they may face a more challenging rebuilding process. The most vulnerable economies are Anguilla, Antigua & Barbuda and the US Virgin Islands as these have high debt loads, wide current account deficits and fixed exchange rate regimes. The likelihood of a credit event in each of the affected economies will be significantly impacted by the degree of international support each island receives.

Last week in an article entitled Coping with the Cost of Natural Disasters, this newspaper identified three solutions to address the impact of natural disasters in the region: the establishment of a regional stabilisation and liquidity fund, as well as a catastrophe fund and the adoption of stricter building codes. However, these are medium to long term solutions. We return to the issue of disasters because these affected countries need help now and the response must be quick and sustained to get the countries back to a position that will allow them to function and begin to take care of themselves. While individual countries will offer assistance, as the CARICOM region, we must provide coordinated assistance. This is where the Caribbean Disaster Emergency Management Agency (CDEMA) which is a regional inter-governmental agency for disaster management in the Caribbean Community (CARICOM). Included among its many functions are mobilising and coordinating disaster relief, mitigating or eliminating, as far as practicable, the immediate consequences of disasters in participating states and providing immediate and coordinated response by means of emergency disaster relief to any affected participating state. As a region, these member institutions of CARICOM have a critical role to play in assisting the member countries to address the effects of natural disasters. As citizens of this region we must demand that our governments fulfil their obligations both bilaterally and through institutions such as CARICOM to fulfil the expectations we had in these regional institutions.

Children’s Court to open in October

In an immediate response, Law Association president Douglas Mendes admitted that he was unaware of a delay in the association’s feedback on the rules but took full responsibility for it. “I know the committee has been working on it and I take full responsibility for the fact that it has not yet been delivered.

The fact that he has mentioned it in his speech has given me the further impetus to go find out right now and ensure our comments are delivered as soon as possible because the Juvenile Court System is extremely important,” Mendes said.

In his address on Monday, Archie spoke of the adoption of international codes to map every offence on the statute books to a numerical code.

This, he said, will enable better record- keeping, management, monitoring and planning. In addressing the recently established Criminal Procedure Rules, Archie said despite initial misgivings in some quarters, the culture change intended by the introduction of the rules was beginning to take root.

iQor creates 600 local jobs

Trade and Industry Minister Paula Gopee- Scoon was in high commendation as she toured iQor’s second facility in Barataria recently.

The Minister gave a commitment to support further both iQor’s and the BPO sector’s expansion in Trinidad and Tobago.

iQor which began operations at the Tamana InTech Park in Wallerfield in 2016 servicing several international companies, has experienced exponential growth mandating the acquisition of a new facility with the promise of 200 more jobs in the upcoming months.

The firm currently employs 600 persons at its two locations.

According to Minister Gopee-Scoon, Government is encouraged by the levels of employment and capacity building opportunities available in the BPO sector.

The Minister mandated the Ministry of Trade and Industry (MTI) staff, through InvesTT, to address expeditiously elements needed to support the sector’s growth.

During her meeting with senior executives at iQor, the Trade Minister reaffirmed the MTI’s role as a key investment facilitator and enabler in the non-energy sector.

She said “We are very happy for your entry into Trinidad and Tobago and we are aware of the need to diversify.

The paradigm shift is here, the Government has acknowledged that revenue gains will not be the same hence the focus on diversification.

iQor’s operations present an immense opportunity.” Opportunities for training and skills development in teleservices, through accredited training programmes, were presented by iQor’s executives who highlighted Trinidad and Tobago’s unique attractiveness for near shore investments due to its location and large pool of native English speakers.

According to the iQor representatives, the company’s expansion into Trinidad and Tobago is extremely important as it identifies cost effective options for continued growth. They indicated that not only was this a business opportunity but also an avenue for persons interested in making a career in the industry.

“We are interested in people who are concerned with making a career and grooming the company’s next leaders.” Mr. John Swain, Director Operations stated. Minister Gopee-Scoon toured the well-equipped facility and interacted with several employees on their experience at the company and in their new office space.

‘Sir’ killed

The father of four and another man were killed after both were caught in the middle of a shootout between rival gang members on Tuesday.

Jack, 47, was a Standard Three teacher based at the Escalier Government Primary School in Gonzales.

He lived in Coconut Drive, Morvant.

At about 7.30 pm, while heading to a parlour to purchase bread, Jack was shot by gunmen who fired from a car which sped along Lady Young Avenue. Persons along the road returned fire at the gunmen in the car.

When the shooting ended, Jack and James Julian, 24, lay dead on the road.

A third bystander, Jhamali Haywood remains warded at hospital after he too was shot.

Several people who were interviewed yesterday in Morvant all said that Jack was a selfless, giving and well-loved member of the Morvant community.

“He gave lessons to every child on this street, free of charge,” a Coconut Drive resident said.

“It didn’t matter whether the parent had money or not. He viewed every child as a jem worth investing his time and energy in.

They have taken a good person.

A good man has died senselessly,” said the resident.

Others said that Jack was active in police youth clubs and community groups.

He was even making plans to extend the front yard of his house so that he could better accommodate the children to whom he gave lessons. An autopsy yesterday showed that Jack was shot in the back.

Relatives of Julian said that he had gone to the local drug block to purchase marijuana when he was shot dead.

“He loved the block. He was always on the block. I tired talk to him about going on the block and being in that lifestyle.

He liked to follow company too much. This is very sad, but only God knows why these things happen,” said a relative of Julian who asked not to be identified.

No arrest has been made.