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A flaw in the corporate governance code

PHILIPSBURG - On February 26, 2010, the Executive Council of Island territory St. Maarten introduced the first Corporate Governance Council. William Marlin, at the time leader of the island government, addressed the council members - Louis...

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Dear Reader

Today, we continue our series of articles about corporate governance. This time we expose a major flaw in the corporate governance code.

When reading the above article, the children's nursery rhyme "There is a hole in the bucket" comes to mind. How do you fix a hole in a bucket? The same way you fix a loophole: you plug it.

But people - especially politicians - prefer to go around in circles. It gives them the illusion of doing something, while in reality nothing actually is being done. And so the song continues while the merry go-round spins round and round.

Have a great day and do enjoy reading our news articles in this edition.

The Publisher

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Conflict resolution begins at home

By Hilbert Haar ~ Around fifteen years ago I attended a personal growth program designed by a Vietnam vet in the United States. I had to think about that experience when I attended the mediation congress at the Belair Community Center on Friday...

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An inexplicable oddity in the 2018 budget

By Hilbert Haar ~ The 2018 budget contains a riddle that I have not been able to solve, despite several attempts to get clarity from those who submitted that budget to Parliament. So maybe there is someone out there who knows more about this little..

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"After Irma we have more conflicts"

PHILIPSBURG - "Every dollar that is spent on conflict is money that is not spent on solutions," Minister Emil Lee (Public Health, Social Development and Labor said on Friday morning at the mediation congress, organized by his ministry together...

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Graduates from the University of YouTube

by Chris Morvan ~ There's a lot to be said for having a go at things yourself around the house rather than automatically calling an expert. It can save a lot of money and, in the current circumstances in Sint Maarten, a lot of time, because the...

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The can of worms at KPMG will be opened anyway

Some questions are very obvious to be asked, but aren't asked anyway - like the question why Wouter Bos led the conversations to form a new government in 2012. The former PvdA Minister of Finance became a partner at KPMG after his departure in...

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IPKO puts pressure on dispute regulation

PHILIPSBURG - The dispute regulation and waste processing were two of the main items on the agenda of the Inter-Parliamentary Kingdom Consultation (IPKO) in The Hague. After more than eight years of discussion, the IPKO delegations of the...

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Waste processing requires cooperation with other islands

PHILIPSBURG - Working together with neighboring islands is the way to go for a viable solution for waste processing. That is the conclusion from a visit delegations of the Inter-Parliamentary Kingdom Consultation (IPKO) paid this week to waste...

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Truck collides with Bus leaving driver trapped inside

BELAIR - The Police Traffic Department is presently investigating a head-on collision between two vehicles which occurred on Friday June 1 st at approximately 3.00 p.m. on Link One in the vicinity of Belair Hotel, the police said on Friday.

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TelEm Group suspects foul play following Ft. Willem fire

SINT MAARTEN (POND ISLAND) - TelEm Group technicians are viewing as "Highly suspicious" a phone cabinet fire in the Ft. Willem Hill area over the weekend that has left residents and businesses in the area without fixed landlines and internet...

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UNDP positive Impacts on the Raoul Illidge Sports Complex

SINT MAARTEN (CAY HILL) - The United Nations Development Programme's (UNDP's) Quick Impact Projects recognized under the theme "Building Back Better St. Maarten" focuses on Community Clean-up, fixing of community structures and roof repairs. UNDP ...

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Island Hoops launches Summer StreetBall 2018

SINT MAARTEN (CAY HILL) - The Island Hoops Foundation visited the Asha Stevens Campus of the Hillside Christian schools on Monday May 21st as the first step in the lead up to the launch of "Summer StreetBall 2018" camp that will be held every...

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First official group of WorldCoaches of Sint Maarten

SINT MAARTEN (PHILIPSBURG) - The Sint Maarten Football Federation, the Royal Netherlands Football Association (KNVB), via their WorldCoaches program, and UNICEF, set up a WorldCoaches program here in Sint Maarten which commenced in February 2018.

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Minister of Finance Ferrier makes courtesy visit to GAC

SINT MAARTEN (POND ISLAND) - Today, Minister of Finance, Michael J. Ferrier, made a courtesy visit to the new offices of the General Audit Chamber. The main offices of the General Audit Chamber at the E.C. Camille Richardson Street, were...

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SMDF & Cordaid host successful Community Workshop

SINT MAARTEN (PHILIPSBURG) - Expanding its activities in the area of District and Neighborhood Improvement, SMDF (St. Maarten Development Foundation), in partnership with Dutch humanitarian and development aid agency Cordaid, hosted its Community ...

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NA MP Doran visits districts. Primary focus is on readiness

SINT MAARTEN (PHILIPSBURG) - National Alliance (NA) Member of Parliament (MP) Egbert Jurendy Doran, in a press statement on Sunday said he recently re-visited various districts on Sint Maarten in order to see for himself, what exactly the status...

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School writing competition winners cut ribbon at Book Fair

SINT MAARTEN (GREAT BAY) - The ribbon-cutting ceremony to declare the St. Martin Book Fair open on June 1, 2018, was performed by primary school winners of the "Letter and Essay Writing Competition," said competition organizer Rochelle "Faizah"...

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SINT MAARTEN/PANAMA - Copa Airlines, a subsidiary of Copa Holdings, SA {NYSE: CPA}, and member of the global airline network Star Alliance, resumes its operations to St. Maarten starting on June 2 with two weekly flights, connecting the Caribbean ...

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Tourism Hope for Barbados | Caribbean360

BRIDGETOWN, Barbados, Saturday June 2, 2018 - Tourism dependent Barbados could benefit from an overall increase in visitor arrivals from the Caribbean over the next two decades. But it would first have to reduce its taxes and airport charges,...

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Port St. Maarten pleased with results of FCCA campaign

PORT ST. MAARTEN - The Florida-Caribbean Cruise Association (FCCA) multifaceted million-dollar campaign, "The Caribbean Is Open," has generated more than 4.26 billion impressions; 11,949 media placements; 22,432 promoted content clicks; promoted...

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Joint "One Island Cooperation" delegation attending CW

SINT MAARTEN (POND ISLAND) - A joint "One Island Cooperation" government delegation from Sint Maarten/St. Martin are currently in New York City for the 45 th Caribbean Week (CW) which kicked off on June 2 and runs until June 8.

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Minister De Weever provides destination update to media

GREAT BAY, Sint Maarten (DCOMM) - Acting Minister of Tourism, Economic Affairs, Transport and Telecommunications (Ministry TEATT) Cornelius de Weever, last Wednesday, May 30, provided an update about destination rebuilding developments via a live ...

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Energy Supply Bonaire Guaranteed For Now

14 By René Zwart © The Hague - The energy supply on Bonaire is secured for the coming months. This was reported by Secretary of State Raymond Knops of the Interior Affairs and Kingdom Relations in a debate with the Second Chamber. The Government, ...

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Withdrawal of 1986-1994 issues banknotes

Willemstad - The Centrale Bank van Curaçao en Sint Maarten (CBCS) has, in accordance with paragraph 1 of article 7 of the Central Bank Statute for Curacao and Sint Maarten (the Bank charter), decided to withdraw from circulation all denominations ...

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Refinery investigates corruption in case of failed deal...

The Refinery of Curaçao is investigating whether corruption took place in a failed deal last year. Recently, the administration of the former director of the refinery and the project manager who arranged the failed agreement with a Chinese...

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'Neglect and backlog' in Statia, State Secretary Knops

ORANJESTAD - "The situation is serious, the neglect and backlog even more extensive than previously thought and visible and noticeable in virtually all areas," State Secretary of Home Affairs and Kingdom Relations BZK Raymond Knops stated...

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No - 41%
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Should the Prosecutors' Office be allowed to further investigate the Harbour?
No - Regional News
Venezuela's Inflation Breaches 25000%

CARACAS - When it comes to hyperinflation, we can measure it with great accuracy. But, it is impossible to produce meaningful hyperinflation forecasts. During episodes of hyperinflation, their courses and durations change so rapidly, and so...

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Sunrise Airways: 'While in Cuba visit Viñales ..."

WILLEMSTAD, HAVANA - During my flight with Sunrise Airways from Curaçao to Havana, Cuba, I was thinking about what exactly I wanted to take home from this trip. Then it came to me, Cuban cigars. I don't smoke but I was very much interested in the ...

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Carolin Coffie Wins Miss Tourism Pageant in Bonaire

162 Kralendijk- Carolin Coffie has taken the crown as Miss Tourism Bonaire in a pegeant which took place yesterday evening in a well-visited event and the Courtyard Hotel. The 4 candidates did three presentations: a uniform and speech...

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Let's Cruise - Eastern, Western, Southern Caribbean... is offering cruise vacations on the best and biggest cruise ships in the world with brand name cruises and destinations in the Eastern, Western and Southern Caribbean, Alaska, Europe and the Mediterranean, ...

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Coast Guard and Citro bring divers in for safety

WILLEMSTAD - The Coast Guard yesterday received the call that a boat from a diving school had problems with its steering. Immediately an interceptor boat was sent to the location and the Citro was informed. The diving vessel was anchored at Coral ...

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New Barbados Government Uncovers Massive Debt and 11th...

BRIDGETOWN, Barbados, Friday June 1, 2018 - A country with the third highest debt in the world, "egregious" contracts signed just days before the May 24 elections, and foreign reserves that are at a "tenuous" stage - generally, an economy that is ...

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Antigua and Barbuda is First Caribbean Country to Ratify ...

WASHINGTON DC, United States, Friday June 1, 2018 - Antigua and Barbuda is now the first Caribbean country and the third nation in the Western Hemisphere to ratify the Inter-American Convention against Racism, Racial Discrimination and Related...

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Jamaica and United States Sign MOU to Combat Child...

KINGSTON, Jamaica, Friday June 1, 2018 - The Governments of Jamaica and the United States of America yesterday signed a Memorandum of Understanding (MoU) for a Child Protection Compact (CPC) Partnership, which is aimed at combating the...

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IMF to Help Barbados in Economic Recovery, But Debt...

BRIDGETOWN, Barbados, Monday June 4, 2018 - An emergency plan has been created to fix Barbados' ailing economy, and it includes getting assistance from the International Monetary Fund (IMF) and suspending payments to external creditors as it...

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Cayman Islands Promises "Worry-Free Hurricane Guarantee" ...

GRAND CAYMAN, Cayman Islands, Saturday June 2, 2018 - The Cayman Islands prides itself in providing travellers with unrivalled vacation experiences and allowing guests to be unburdened by the stresses of everyday life.

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Forecasters Lower Predictions as Hurricane Season Begins ...

FLORIDA, United States, Friday June 1, 2018 - A day before today's official start of the 2018 Atlantic hurricane season, which runs until November 30, forecasters from the Colorado State University (CSU) issued a revised outlook, lowering their...

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Weather Forecast: Monday to Wednesday

DATE ISSUED: Sunday June 03, 2018 @ 18:00 LST (22:00 UTC) VALID UNTIL: Monday evening (18:00 LST) June 04, 2018 WEATHER: Tonight through Monday evening: Generally fair to partly cloudy and hazy. Forecast High: 31°C / 88°F Forecast Low: 27°C /...

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Taser does have added value police say after year-long test

SINT MAARTEN/THE NETHERLANDS - Electric shock weapons such as tasers, do have 'added value' for the police, according to a report on the year-long trial by the police academy. Since the start of the trail in February 2017, tasers have been drawn...

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English at university is fine, says minister, as long as ...

The Dutch higher education system can continue to offer more courses and degrees in English, as long as it leads to an improvement in standards and that Dutch students are not forced out, education minister Ingrid van Engelshoven said on Monday.

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New Year fireworks: ban on firecrackers must be nationwide

Efforts to reduce the problems caused by the New Year firework frenzy will only succeed if they are applied nationwide, according to the Dutch local authorities association VNG. The VNG has written to home affairs minister Kajsa Ollongren saying...

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France's Accor Hotels group mulls taking stake in Air France

French hotels group Accor confirmed on Monday that it was in talks to acquire all or part of the French government's 14.3% stake in Air France KLM. The French state stake in the Franco-Dutch airline is worth about €420m based on current share value.

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SXM Daily News - 1 Jun 2018
SXM Daily News June 1, 2018

SXM Daily News June 1, 2018

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