Fixing GuySuCo’s problems

first_imgDear Editor,GuySuCo’s current situation could be successfully fixed in a timely manner if there is the political will and good corporate governance is undertaken.Firstly: the bank loan backed by the corporation’s assets is questionable, not only because of the uncertainty of the pension fund’s viability, but also due to the form of the financing. A physical inventory needs to be undertaken, and a fiscal audit is also needed to support a clear understanding of the asset base to be used for securing financing. In addition, a line of credit should be pursued with Government’s backing to minimize the interest payments required.Secondly: labour concessions during the turnaround period should be negotiated, in order to reduce the cost of goods to allow for the reopening of the closed and neglected factories. In addition, an organisational capabilities assessment is required to ensure there is a clear plan to improve internal processes for improved front end operations.Thirdly: the acreage utilisation needs to be optimised in order to increase field yield rates to best in class levels, as seen by our successful international competitors. This will require limited investment. Factory maintenance improvement plans based on efficiency assessments will also provide clear guidance for improvement plans related to production costs and improved throughput. Such a fresh eyes’ audit needs to be undertaken in order to develop a clear investment plan for the industry. This should be pursued to obtain benchmarked levels.Fourth: the pricing of goods and services provided by the corporation needs to be revised, allowing for increases that reflect not only inflation rates, but also the increased demand associated with the limited supply. Market prices are currently not reflective of adjacent and competitive products. The mindset of bulk sales vs. consumer sales needs to be shifted in favour of the latter, to truly capture the pricing opportunity in the market place. A clear pricing strategy going forward needs also to be outlined.Based on my professional experience, the above outlined approach would clearly walk the turnaround initiative through the P&L, better identifying the financing needs and their required timing to support a successful turnaround initiative for the sugar industry. In addition, this approach would ensure a successful undertaking of making the sugar industry profitable in the current competitive environment.Best regards,Jamil Changleelast_img read more

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‘Rule of Law Critical to Building a Vibrant Democracy’

first_imgVice President Joseph Boakai has said that the rule of law is crucial to the building of a vibrant democratic society in which the rights of all citizens are guaranteed.“There is no way a country can go on without the rule of law,” the VP said, when he visited with authorities of the 10th Judicial Circuit Court in Voinjama City, Lofa County, during his week-long post-Ebola tour. He visited the Court in order to acquaint himself with activities there.He further stated that the provision of logistics for the courts to do their work is critical to the legal process and promised that government will make sure that courts are properly empowered to do their work to ensure the rule of law in the country. The lack of these basic logistics has contributed to the slow pace of the dispensing of justice in the country, he said.He noted that Judge Nancy Finda Sammy, who was not present, had acquainted him with the challenges facing the court, including conveying prisoner(s) from other parts of the county and lack of transportation for the court’s operations.He praised her for restoring dignity to the court.The Tenth Judicial Circuit of Lofa County presented a document listing the critical needs and priorities of the court to the Vice President. The VP said he would consult with judicial authorities in Monrovia for proper redress.One of the requests that Mr. Foday A. Konneh, Coordinator, Lofa County Branch, National Association of Trial Judges, presented to the VP was that there be two pre-trial detention centers for holding accused persons until their conviction. They must be transferred to the Voinjama Central Prison. “One of these pre-trial detention centers should be located in Zorzor City to serve Zorzor and Salayea Districts. Another should be built in Kolahun City to serve Kolahun, Vahun and Foya Districts.”“As earlier discussed with you by Judge Sammy,” Konneh further stated, “we also wish to remind you of the dire need for vehicles to help transfer accused persons and convicts from various magisterial Courts as had been done by UNMIL.”Earlier, the Vice President toured the Voinjama Market where a new market building under the auspices of the Sirleaf Market Women Fund is being constructed. He also visited the Lofa County Community College to acquaint himself with the situation there.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

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City Set To Release 2015 Annual Report

first_imgFORT ST. JOHN, B.C. – The city is once again inviting the public to provide feedback and ask questions on June 27th at 6:00 pm as they release the City’s 2015 Annual Report and Audited Financial Statements.Interesting facts and information come about from the report as well, such as:1100 new likes on FacebookThe launch of a city appOver 45,000 trips down the waterslide at the North Peace Leisure PoolAlmost 13,000 people attended the U17 Wold Hockey ChallengeThe biggest point in 2015 though was the signing of the Peace River Agreement (PRA).That took place between the Province and the Community Measures Agreement (CMA) with BC Hydro. The PRA will help the city in managing capital projects for years to come and the CMA, a legally binding agreement, will mitigate the impacts of the $8 billion Site C dam project.- Advertisement -Citizens can view the report or download it from the city’s website.last_img read more

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FRANCOIS INVESTIGATION: ‘CROOK WAS A HORRIBLE MAN. WE ALL HATED HIM’ – EX-EMPLOYEE

first_imgA FORMER employee of roly-poly criminal Francois de Dietrich has opened her heart about her ‘nightmare’ working for the ‘boss from hell’.When he was conning 200 people out of their hard-earned cash, the smooth-talking Frenchman was sophisticated and endearing.But away from prying eyes, he was a ruthless crook who would shout at staff in bad-tempered tantrums for ‘absolutely nothing’. A former employee has spoken to donegaldaily.com about the crook and she revealed how he could appear smooth one minute – and completely lose it the next.She told us: “It was like having two bosses. And you didn’t know which one you were going to meet on an day to day basis or on an hour to hour basis.“It was like having the boss from hell. He would promise the earth one day and then the next he would renege on promises, particularly when it came to salary and bonuses and everything else.“He would shout you down to get his point across and was really arrogant.” She went on: “He had a hold over you; a power over you that is hard to explain now but let’s just say you did what you were told. We all feared for our jobs.”Some employees were hired on six month contracts which had ‘probation’ clauses – and then they were fired just when they were about to become full time employees.Our source added: “I saw him talk to clients. He was charming and funny. As soon as those clients left, he became the real Francois, a crook, a criminal and the boss from hell. He was a horrible man – and we all hated him.”De Dietrich is today still on the run from every police force in the European Union. He faces 18 months behind bars for contempt of court after failing to give a Belfast court details of all of his assets.So far the Financial Services Authority in the UK has seized Stg£20.2M. An AIB bank account in Ballybofey containing €1.7M has been frozen. But cops on both sides of the Border believe millions of euro are still missing.Donegal investors promised cash payments via a third party in recent weeks have not received their cash.Yet Francois still has friends who believe he will pay up.One source however told us last night: “The only way for anyone to get their money back now is via the courts and the law. Anyone waiting on a promise from Monsieur de Dietrich is seriously deluded.” Copyright donegaldaily.comFRANCOIS INVESTIGATION: ‘CROOK WAS A HORRIBLE MAN. WE ALL HATED HIM’ – EX-EMPLOYEE was last modified: February 23rd, 2011 by gregShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more

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