As We See It


 

ANOTHER ONE BITES THE DUST

Posted by SR (riley) on Dec 07 2016 at 11:56 PM
As We See It >>

It has just been reported that the iconic Caribbean Cement Company (CCC), located in Rockfort, Kingston, which was once wholly owned many years ago by the Government of Jamaica, should shortly become a Mexican operation, with plans to delist from the local Stock Exchange, thus driving the final nail, into its foreign ownership coffin.

As we have noted over the past twenty three years, ever so slowly, Jamaica is losing the ownership of its iconic brands,  in manufacturing, tourism, banking and insurance, thus robbing the State of billions of dollars in revenue and compounding the vulnerability of our economy as the here today, gone tomorrow scenario weakens the country’s ability to plan effectively.
 Jamaican owners of serious capital are content to sit by and happily watch as they have been spolit by the lucrative high interest rate policy of the past and the current windfall profits from the programmed devaluation of the Jamaican dollar to mount any resistance to the foreign take over of our economy, but surely as the night follows the day, the next generation will pay dearly for the worsening state of affairs of our assets.

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