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TUESDAY, OCTOBER 24, 2023
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Wendy’s blasts ‘baseless campaign’ over PI project By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net WENDY’S principal yesterday blasted an “orchestrated and baseless campaign” against its Paradise Island restaurant project that it says is primarily designed to “block free and fair competition”. Chris Tsavoussis, in a letter to Keenan Johnson, Town Planning Committee chairman, that affirmed
some 120 full-time jobs and 75 construction posts are at stake, argued that Atlantis and other major Paradise Island resorts/developers are guilty of “discriminatory business practices that should not be tolerated in our country” through their opposition. Calling for “free and fair commercial access to the entire Bahamas”, the Aetos Holdings chief said the group’s Wendy’s and Marco’s Pizza fast-food brands
should be permitted “to invest and expand” on Paradise Island just as Atlantis and the former Hurricane Hole’s developer, Sterling Global Financial, have without being “dictated to by a foreign private equity bond holder”. Besides that seeming swipe at Atlantis’ owner, Brookfield Asset Management, Mr Tsavoussis added that he and his company “strongly oppose” the demand by the Paradise
Island Tourism Development Association, which also represents other major resorts such as the Ocean Club and Comfort Suites, that Town Planning delay its decision by four weeks to allow for a traffic impact study to be conducted. Writing ahead of the Town Planning Committee’s anticipated verdict tonight on whether to approve the dual Wendy’s and Marco’s Pizza
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KFC makes ‘no more industrial action’ call t 4UBGG JO AHP TMPX XPSL UP SVMF QSPUFTU KENTUCKY Fried Chicken’s (KFC) operator t 'BTU GPPE mSN ATVSQSJTF yesterday urged the hotel POF JTTVF MFGU union not to take “further industrial action” as staff t 6OJPO A5FMM UIFN CSJOH initiated a “go slow and QFPQMF T NPOFZ work to rule” protest over outstanding in the two sides’ negotiations. Calling on the hotel union’s leadership to resume negotiations, the KFC franchise identified the “lump sum payment” to staff as the only area where the two sides are in disagreement. However, Darrin Woods, the union’s
DARRIN WOODS
president, responded by telling Tribune Business: “Tell them to bring the people’s money.” He confirmed that Restaurants (Bahamas) reference to a “lump sum payment” was its $800 offer - equivalent to $100 per year - to cover the eight years since the line
staff’s last industrial agreement expired in 2015. The BHCAWU president reiterated that the sum on offer was “disappointing and humiliating”, and maintained that the company was mistaking its “diplomatic” approach to negotiations for weakness. Firing back at KFC’s statement, Mr Woods told this newspaper: “I don’t think they can tell me what to do. Tell them to bring the people’s money. That’s
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DPM demands Ex-ArawakX finance chief’s improved Caribbean ‘browbeat’ claim ‘laughable’ air connectivity By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net THE deputy prime minister yesterday said air transportation and connectivity throughout the Caribbean must improve to advance tourism and regional trade relationships. Speaking to reporters at the Caribbean Investment Forum (CIF), Chester Cooper, also minister of tourism, investments and aviation, said Caribbean residents and tourists have been faced with the “old story” of having to connect through a major US airport such as Miami while en route to another Caribbean island. Calling for improved inter-regional travel, he said: “This is an old story. We often lament having to travel to Miami to go to Barbados, or having to pass The Bahamas when they’re coming from Jamaica to go to Miami, and then come back to The Bahamas. “If we are going to foster closer relationships in CARICOM, if we are going to do more business and if we are going to improve what we have been talking about as multi-destination tourism, this is an area that we must resolve. “We have the begun some conversations through the Caribbean Tourism Organisation. I’ve been leading some of these conversations as vice-chairman of
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By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
ARAWAKX’S president has branded as “just laughable” claims by its former chief financial officer that he was “browbeaten” into using a loan from its major investor to pay sums due to the Red Lobster franchise. D’Arcy Rahming senior told Tribune Business that the allegations by Michael Turnquest, made in an April 19, 2023, interview with the Securities Commission were “silly” and “made no sense” to the extent it was difficult to respond to them. He hit back after the record of Mr Turnquest’s interview was filed by the Securities Commission with the Supreme Court last Friday as part of its ongoing legal bid to have ArawakX wound-up and placed under the control of a provisional liquidator. The former ArawakX financial chief said that, in signing off on the payment to Pinnacle Franchise Brands, the Red Lobster franchisee, he felt “jammed” between the demands of the crowd-funding platform’s major investor, James Campbell, who was loaning the required funds, and Mr Rahming senior and his son, D’Arcy junior.
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Gaming Board to be ‘fair and clear’ on Chances grievance
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
contract talks. Restaurants (Bahamas), in a statement that apologised to customers “for any inconvenience”, said it was “surprised” that Bahamas Hotel, Catering and Allied Workers Union (BHCAWU) members would resort to industrial action now given that just one issue remains
WENDY’S PI RENDERING
Mr Turnquest, affirming that was one of two signatories with the “dual signing authority” necessary to D’ARCY release the RAHMING SNR funds, told Securities Commission officials: “And on that day - I call it a hostage day - I was grabbed, pulled into a room, told that I was untrustworthy. I was basically browbeaten.” Alleging that the so-called “browbeating” came from the Rahmings, Mr Turnquest suggested he was caught between their demands and those of Mr Campbell, the former Colina Insurance Company president, who ultimately invested a combined $1.6m into ArawakX via a combination of capital injections and loans - for much of which there was an option to convert into a sizeable equity stake. “Leading up to that point, Mr Campbell... was never convinced that things were as bad as they were,” Mr Turnquest, who is also Mr Campbell’s brother-inlaw, told Securities Commission
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By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Gaming Board’s chairman yesterday pledged that the regulator will be “fair and clear” in addressing a web shop operator’s concerns that its funds are being improperly used. Dr Daniel Johnson told Tribune Business the gaming industry’s supervisory body will respond “in short order” to Chances’ grievances that its monies are not being used in accordance with the Gaming Act and accompanying regulations to solely finance employee background checks and vetting. “That’s something that we’ll have to verify,” he said of the gaming house’s contention. “We’ll have to check into that and it will be verified. Our role as regulator is to be fair and clear. We’ll put that together and report to them in short order. It will all be fair, and we’ll make it very clear.”
DR DANIEL JOHNSON Dr Johnson’s comments came as Chances and its parent, Jarol Investments, yesterday formally requested “an audience” with the Gaming Board to address concerns that the regulator has been taking monies from the web shop operator’s investigative deposit account and using them for purposes not intended under the law or regulations. They are arguing that the Gaming Act’s section
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