Dr. Omar Davies to quit representational politics?

[Tuff Gong]

Thu Jul 13, 2006
Dr. Omar Davies to quit representational politics?

Member of Parliament for South St. Andrew and Minister of Finance, Dr. Omar Davies

Member of Parliament for South St. Andrew, Dr. Omar Davies remained stubbornly silent on Wednesday night in the face of questions that he plans to quit representational politics.

The RJR News Centre contacted Dr. Davies after receiving reports from well-placed party and constituency sources that he was seriously considering whether to represent the South St. Andrew seat in the upcoming General Election.

He has represented the constituency since 1994.

As he warded off one question after another with a chuckling no comment, Dr. Davies invited our representative to attend his constituency meeting this weekend.

Asked whether a special announcement would be forthcoming, Dr. Davies quipped that announcements are always made at his meetings.

He left academia and went into representational politics when the People's National Party (PNP) needed a Finance Minister after Hugh Small quit the post 13 years ago.

At the time, the late South St. Andrew Member of Parliament, Hartley Bobby Jones made the supreme political sacrifice by resigning as MP from the strong PNP seat to make way for Dr. Davies.

Dr. Omar Davies to quit representational politics?

[Q3210]

Re: Dr. Omar Davies to quit representational politics?

He is said to be the greatest finance minister Jamaica has ever had. Why should he go now?

[Tuff Gong]

Re: Dr. Omar Davies to quit representational politics?

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He is said to be the greatest finance minister Jamaica has ever had. Why should he go now?

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The party is over!

[niceniss]

Re: Dr. Omar Davies to quit representational politics?

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He is said to be the greatest finance minister Jamaica has ever had. Why should he go now?

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The party is over!

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one can only hope...

[Q3210]

Re: Dr. Omar Davies to quit representational politics?

Yu hear KD Knight lambasting his own tribe in the `house` Tuesday?
Telling them off and that corruption must stop.
KD dropping out of rep politics too I hear, so him getting bright and forward, but is de living truth him ah seh.
No country cant develop when it poor and corrupt.
It different if de country was not poor. A likkle corruption wouldn`t hurt.
The PNP is the most Corrrrrrrrrrrupt Govt. Jamaica has ever been challenged with.
I wonder if Omar Clueless Davies is gwine to confess before stepping down?
All of a sudden dem ya man geting honourable by doing the honourable ting and resigning.

[Tuff Gong]

Re: Dr. Omar Davies to quit representational politics?

[ QUOTE ]
Yu hear KD Knight lambasting his own tribe in the `house` Tuesday?
Telling them off and that corruption must stop.
KD dropping out of rep politics too I hear, so him getting bright and forward, but is de living truth him ah seh.
No country cant develop when it poor and corrupt.
It different if de country was not poor. A likkle corruption wouldn`t hurt.
The PNP is the most Corrrrrrrrrrrupt Govt. Jamaica has ever been challenged with.
I wonder if Omar Clueless Davies is gwine to confess before stepping down?
All of a sudden dem ya man geting honourable by doing the honourable ting and resigning.

[/ QUOTE ]

I heard about it. I think I got part of it on tape. The problem is this comes long after the incident with is wife and the cop at the airport, corrupt use of the security forces against the citizens of Jamaica under his watch, the prison catering scandal, the recent Chinese Stadium scandal all directly under his watch.

[Tuff Gong]

Re: Dr. Omar Davies to quit representational politics?


'I'm staying'
Davies to run again in South St Andrew
Erica Virtue
Sunday, July 16, 2006

Finance minister Dr Omar Davies, the chairman of the People's National Party (PNP) Region 3 grouping, yesterday dispelled rumours that he would be leaving representational politics when he told delegates and supporters at his constituency conference that he will stay, saying there was work to be done.

"I'm with you. It is not time to step. I'm with you, but there is work to be done," said Davies, who only minutes before was returned un-opposed as constituency chairman. Davies made the long-awaited announcement at his St Andrew South constituency conference at Avon Park Crescent, in a section of the constituency yesterday.

But it was clear that he could announce his departure which would have confirmed weeks of speculation that he was in the political departure lounge.

"A month ago if I was making this speech, I would have been telling you good-bye and handing you over to a successor. But now, the time is not right. There is work to be done, at the constituency level and at the national level," Davies told constituents.

The beleaguered finance minister said he had lost political ground in his own constituency because he had declared war on criminals.

Last night he reiterated his abhorrence of crime and criminality and urged residents to stand on the side of the law.

Davies to run again in South St Andrew

[niceniss]

Re: Dr. Omar Davies to quit representational politics?

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'I'm staying'
Davies to run again in South St Andrew


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aw, see now that's just too sad... [img]/forums/images/graemlins/frown.gif[/img] [img]/forums/images/graemlins/70394-bawlout.gif[/img]

[Tuff Gong]

Re: Dr. Omar Davies to quit representational politics?

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'I'm staying'
Davies to run again in South St Andrew


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aw, see now that's just too sad... [img]/forums/images/graemlins/frown.gif[/img] [img]/forums/images/graemlins/70394-bawlout.gif[/img]

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I think it is good. I want to see Bruce beat the hell outta the full slate and if he can't win the whole enchilada at least get enough seats to put some pressure on any PNP Government that is returned to power.

The problems faced by Dr. Clueless that made him contemplate retirement is not in the wider society, the problems were in his own Constituency where is support for certain elements have split what was once a very loyal PNP Area.
The businesspersons are cheering loudly now that he has decided to remain because they feared their feeding tree would be chopped down if he left at this time.

[Hopyoneson]

Re: Dr. Omar Davies to quit representational politics?

[Blackstar*]

Re: Dr. Omar Davies to quit representational polit

[Tuff Gong]

Re: Dr. Omar Davies to quit representational polit

DWL!

Here is another good one:

[Tuff Gong]

Re: Dr. Omar Davies to quit representational polit

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DWL!

Here is another good one:



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Sorry the Sunday Herald switched on me....This was not the photo I posted last week anyway.

I would watch this news I think our next MOF might come out of this development:

Scotia set to acquire DB&G?

By Dennise Williams Business Observer staff reporter
Wednesday, September 13, 2006



On the heels of last month's declaration by Bank of Nova Scotia (BNS) president and chief executive officer Bill Clarke that his bank would seek to grow its wealth management division, reliable sources tell the Business Observer that BNS is set to acquire brokerage house Dehring Bunting & Golding (DB&G).


Peter Bunting
Yesterday, Mark Golding, DB&G company secretary, offered a terse "no comment", when contacted by the Business Observer, while the newspaper was unable to speak with DB&G chairman Peter Bunting, president Gary Sinclair and Scotiabank's Clarke.

Yesterday, financial experts, who said that the sector has been abuzz with talk of the acquisition for some weeks now, argued that the move would give BNS an enhanced presence in the securities business while allowing the principals of DB&G to cash out on a high note.
"BNS is so far behind in the investment banking business that it would suit them to acquire DB&G," said Oliver Chen, former vice-president of mutual funds at First Global Financial Services.

An executive with a listed brokerage firm who asked not to be named said, "Every other revenue line item for BNS brings in billions while the investment banking arm makes only millions. The merger would boost BNS' earnings. I think it is a good deal for BNS."
Although BNS is considered Jamaica's number one bank, its dominance has only been in the deposit-taking and loan-granting aspects of financial services where it controls 42 per cent and 44 per cent of each market respectively as at June 30, 2006.

BNS's latest results for the period ending July 31, 2006 shows that investment banking only contributed 3.283 per cent or $223.84 million to the overall profit before taxes of $6.818 billion.
"It would suit DB&G to sell, as the spreads on money market instruments are narrowing and the margins are going to be slim for the short term," said Chen. "Bunting and the other executives may be thinking it is time to cash out on a good note."


Bill Clarke
For the period of June 30, 2006, DB&G had $33.4 billion worth of funds under management, a growth of 10 per cent over the same period in 2005. However, net profit was $147 million, a marginal decline of 2.65 per cent from the $151-million earned in the June 2005 period.

Chen believes that it is the success of NCB and its wealth management subsidiary NCB Capital Markets that has spurred BNS into action. NCB Capital Markets provided 45 per cent of NCB's 2005 profits. "The banking sector has shifted its focus to securities as the public has become more sophisticated," he said. "People want more than a savings account and a current account."

Chen said that for some time BNS has tried to grow its investment banking arm. "The division was first known as Scotia Trust, and then it was renamed Scotia Investments," he said. "The whole objective of that arm was to sell the Scotia Mutual Funds, but they have not found great success in that area. They need to find a way to get their commercial banking clients to become investment banking clients."

Yesterday, financial experts, speculating on the value of such a deal, noted that as at Tuesday's trading, DB&G's stock was sold for $16.10 per share. The book value of the company is $10.57 billion and its market capitalisation is $4.979 billion based on 309 million shares outstanding.
"Valuing DB&G is based on what DB&G will bring to the table," said banker Aubyn Hill.
DB&G have a stockbroking license with eight branches in Jamaica and one in Trinidad & Tobago.

One stockbroker who spoke on condition of anonymity explained how such a deal could be valued. "On a transaction like this there would be three methods that could be used to price DB&G," the broker said. "There is price to book value, the value of current earnings and the value of future earnings.

However, compared to the rest of the financial services industry, DB&G have the lowest price earnings ratio, 5.76 compared to an average of 9.53. DB&G could argue," said the stockbroker, "that the markets have undervalued the worth of the business and ask BNS to pay a premium for the company."
However, the stockbroker said that what wasmore likely was that "a combination of the three valuation methods will be used to reach a final number".

Hill, in his analysis, said, "BNS is buying intellectual prowess and contacts, and this comes in the shape of people. The risk BNS faces is how do you convert owners into employees? When big investment houses are bought out, you tend to see the big names leave to start their own business.

The plus is that if BNS has the right negotiation team, they can give the old owners enough incentive - equity or profit share in BNS - to keep the principals interested. They will also probably have the managers sign a non-compete agreement; but what you want is the owners of DB&G to come to BNS with the same aggression and drive."

[Blackstar*]

Re: Dr. Omar Davies to quit representational polit

[ QUOTE ]
Sorry the Sunday Herald switched on me....This was not the photo I posted last week anyway.

[/ QUOTE ]
You can use the members' Photo Gallery on this board to upload and link to pictures likely to disappear from sites.


[ QUOTE ]
I would watch this news I think our next MOF might come out of this development:[ QUOTE ]
Yesterday, Mark Golding, DB&G company secretary, offered a terse "no comment", when contacted by the Business Observer, while the newspaper was unable to speak with DB&G chairman Peter Bunting, president Gary Sinclair

[/ QUOTE ]

[/ QUOTE ]
Which one?

[Tuff Gong]

Re: Dr. Omar Davies to quit representational polit

[ QUOTE ]
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Sorry the Sunday Herald switched on me....This was not the photo I posted last week anyway.

[/ QUOTE ]
You can use the members' Photo Gallery on this board to upload and link to pictures likely to disappear from sites.


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Thanks.....maybe I should start a Clovis folder?

[ QUOTE ]
I would watch this news I think our next MOF might come out of this development:[ QUOTE ]
Yesterday, Mark Golding, DB&G company secretary, offered a terse "no comment", when contacted by the Business Observer, while the newspaper was unable to speak with DB&G chairman Peter Bunting, president Gary Sinclair

[/ QUOTE ]

[/ QUOTE ]
Which one?

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Peter Bunting...but I don't know this would make any difference this guy said he was a committed socialist.