Life’s like that and I thrive on challenges!

However, I have learnt several invaluable lessons from the over two thousand entrepreneurs I have been interviewing since October 1998.

Some of these lessons I have tailored to suit my own circumstance and others I have formulated from experience.

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Though the United States and Cuba have no formal high-level diplomatic ties, the Wikileaks cables indicate a surprising level of co-operation between the two cold war enemies in the fight against the regional narcotics trade.

The end apparently justifies the means!

A Miami herald news report highlights close collaboration between a Coast Guard Drug Interdiction Specialist, (DIS) in 2009 and also Cuban complaints that Jamaica has “consistently ignored” calls for help on drug cases.

The American diplomatic cable from Cuba quoted what it said was “A significant frustration on the Cuban side is the reportedly complete lack of co-operation afforded them by the Government of Jamaica when it comes to information sharing.”

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 The Finance Minister should not be swayed or bullied by any business interests once the government is applying the taxation on tonic wines and beers fairly after dialogue with stakeholders and in accordance with international benchmarks.

Those should be his only guidelines.

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It’s ironic that journalists who always complain about the pay levels in the profession were largely absent from a forum in Kingston put on by the Press Association of Jamaica on November 30, 2010. That forum was entitled “Media and money.” 

The panelists were: TVJ’s  General Manager Kay Osborne who spoke on the topic: “Growing corporate revenue through content innovation;”  Oral McCook managing Director of a leading advertising agency OGM who spoke on the topic growing corporate revenue through advertising innovation;” and yours truly Owen James who spoke on the topic: “Building financial strength as a journalist.” 

It’s no secret that journalists are not highly paid, though the salary scales are much better than they were when I entered the profession in 1973. However on the flip-side media houses do not make high levels of profit and media is capital intensive.

 It’s no secret too that many of our journalistic luminaries of the past were poor managers of money, some dying as veritable paupers. 

Hence such a seminar was timely. 

In my own presentation I suggested that journalists set ten goals for 2011 to enhance financial independence: 

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  1. Find yourself a licensed financial advisor. The banks and other financial institutions in this post-debt-exchange era are begging people to come in to them;
  2. Find legitimate earning possibilities;
  3. Save! Save! Save! Remember cash is king!
  4. No more debt!
  5. Minimize the use of credit cards.
  6. Pay more attention to budgeting;
  7. Buy only what you need and not what you want;
  8. Pay more attention to your health.
  9. …and importantly develop shared goals with your partner!
  10. Seek mentorship

These goals are attainable and I speak from experience.  I also made tangible suggestions on how journalists may LEGITIMATELY earn more from within their own organizations. However in a packed meeting room at the Courtleigh Hotel Tuesday night of November 30, 2010, less than ten of those who could benefit, were in attendance!

We also need to take better care of our colleagues. We are the only local profession where instead of bonding we continuously tear down each other, with motivation often borne from envy.  Lawyers don’t do it; doctors don’t do it; teachers don’t do it.

A word of caution to journalists: When you hear rumours, apply the same stress tests you would to a controversial story before propagating them. Don’t seek to ruin reputations often built on hard work; innovation; honesty and integrity; blood, sweat and tears!

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Downtown Kingston

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The crisis in sections of   Jamaica at this time is but a symptom of one of the main sources of crime in this country – narco-trafficking. We need all hands on deck to tackle this problem in an intelligence-driven way and not through brute force which could serve to strengthen the resolve of narco-traffickers and the citizenry they have won over.

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Air Jamaica has accumulated losses of U.S one billion dollars and debt of five hundred million dollars.

Can we afford the airline in its present format?

Like most Jamaicans I feel sentimental about what's loosely called our national airline. However, unlike most Jamaicans, I operate on a budget and hate deficit financing so I endeavour to live within my means.

I make this analogy to emphasize the point that we cannot afford Air Jamaica and would resent any Jamaican government using my tax dollars as guarantee to any would-be 'purchaser'.

Do the pilots have a viable business plan for the airline? Are they willing to risk everything they have to maintain the status quo? Do they require a government guarantee?

Why doesn't the tourism sector, which has benefited significantly from Air Jamaica make a bid for this asset?
 
Is it that they consider it a liability?

And why do talk-show hosts on the island's top radio stations not do their research instead of ecouraging emotionally-charged chatter, which does more harm than good, on the airwaves ?

We can't have our cake and eat it!

Time for a reality check.

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U.S. $9 drink!

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I felt happy this week despite the pervasive crime and other social ills afflicting our island.

What made me happy?

The tone of the budget presentations by both  Finance Minister Audley Shaw On April 23, 2009 and Opposition Spokesman for Finance Dr. Omar Davis on April 28 reflected  the kind of maturity I have always yearned for in our politics.

Both came to the table with possible solutions to Jamaica's economic woes.

Shaw's presentation on April 23 reflected maturity and full realization of  the impact of the global problems on Jamaica. The contentious tax on petrol to my mind was a good way of ensuring that more persons were contributing to the country's revenues  as there's an estimated 200,000 working individuals who refuse to pay income tax.

The opposition PNP largely  resisted the temptation to organize widescale demonstrations which could only further serve to weaken the country's fragile economic system. The  demonstrations were sporadic and largely peaceful but for a few miscreants who always use such occasions to rob motorists and create mayhem.

Instead Davis proposed a spending package to close the gap in the budget by  transferring more of the burden to the rich through a 33 1/3% surcharge  dividends on high-yielding government paper and forays into two cash-rich funds.

To be fair both men engaged in gamesmanship which is par for the course in our parliamentary democracy but they largely refrained from the traditional inflammatory and accusatory tones.

Both presentations were almost 'Obamaesque' in nature.

Is this a fresh start in Jamaican politics?

Only time will tell.

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