business@tribunemedia.net
MONDAY, DECEMBER 16, 2024
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$8.2m GB Concrete ‘makes some moves’ through block launch By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A FLEDGING Grand Bahama concrete plant is aiming to “make some moves” following the December launch of its final phase following a total $8.2m capital investment. Glennett Fowler, principal of Heroic Concrete and Concrete Products, told Tribune Business that it plans to “ramp up in the New Year” after its blockmaking business - with a 1,000 per day production capacity - came online the week before last. Revealing that an extra ten staff have been hired for the block manufacturing segment, taking its workforce to 21 and expanding Heroic’s total staff to 41, she voiced optimism that the company will “be a significant player in the market in the next 24-36 months” as it seeks to supply Carnival’s $600m Celebration Key cruise port and other investment projects targeted at Grand Bahama.
Heroic’s business model focused on having both the concrete block and readymix concrete operations running side-by together, and Ms Fowler told this newspaper that while there have been delays in launching the former this has worked to the company’s benefit as it has been able “to get the capacity we need” to support both Grand Bahama developments and distribution of its products to other Bahamian islands. And, with Gold Rock Corporation having previously closed its concrete block-making
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Super Value ‘not getting hopes too high’ for Xmas By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
GLENNETT FOWLER
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SUPER Value is “not getting our hopes too high” for Christmas sales that are typically up to 10 percent higher than “normal” shopping periods, its president has disclosed. Debra Symonette told Tribune Business that the 13-store supermarket chain is adopting a realistic attitude towards one of the year’s busiest shopping periods given the cost of living and inflationary pressures still impacting consumer spending ahead of what is expected to be a “challenging” 2025. While the prices for hams, turkeys and other Christmas staples “remain pretty stable” compared to last year, she warned that The Bahamas will be unable to completely avoid the disruption and price increases that will result if Donald Trump makes good on his threat to impose and hike tariffs on Chinese and other imports once he returns to the US presidency on January 20. Asserting that “we have to be prepared” for the uncertainty and
• Typically sees up to 10% bump in holiday • Trump tariffs make for ‘challenging’ 2025 • Non-US sourcing under 10% of supplies shocks that may result, Ms Symonette told this newspaper that while Super Value is “building” its non-US sourcing and supply chains these account for “no more than 10 percent” of its imported products. This highlights The Bahamas’ vulnerability, as an import-dependent nation that annually brings in more than $3bn of physical goods from the US, to the threatened Trump tariffs. Ms Symonette, though, said non-US
suppliers are “reaching out” to Super Value constantly in an effort to build trade relationships and, providing shipping costs and other factors are “feasible”, it will explore these routes if goods are cheaper. Tempering expectations for the upcoming Christmas holiday season, Ms Symonette told Tribune Business: “We’re trying to remain optimistic and hope we have good Christmas sales, but we are aware some people are trying are trying to recover from the tough economy. We’re not getting our hopes too high. “We’re looking forward to getting as much as we can get. We do see a significant increase in sales at Christmas; I would say probably a 5-10 percent increase over the normal shopping days. We’re hoping they would at least be the same [as last year] even if there is no increase. “We’re just keeping our fingers crossed that sales do not decrease this Christmas time. We’ll be glad if they remain the same but are still optimistic that customers will be in the festive mood and buy more.”
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BPL pledges ‘post mortem’ on 24-hour Eleuthera woe By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net BAHAMAS Power & Light (BPL) last night promised frustrated Eleuthera residents and businesses that it will conduct a “post mortem” after several communities on the island lost electricity supply for over 24 hours. Arnette Ingraham, the state-owned energy supplier’s spokesperson, apologised for the lengthy weekend outage in an Eleuthera BPL What’s App forum and pledged it will seek “a better solution” after the Glass Window Bridge’s weatherenforced closure meant
no BPL trucks were present - or could cross - into the island’s north to effect essential repairs. Teams from both New Providence and Harbour Island were yesterday dispatched to mainland Eleuthera to deal with power restoration efforts after communities such as the Current lost energy supply for 27 consecutive hours, while sections of Whale Point were not far behind at 22 hours based on postings in the What’s App chat. Asked why BPL did not leave one of its bucket trucks on the Glass Window Bridge’s northern side, knowing that bad weather
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Hotel workers bracing for ‘biggest ever gratuity rise’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net HOTEL workers are eagerly anticipating the “biggest ever increase in gratuity” payments taking full effect in the New Year, a union chief has revealed, as he urged members to “deliver value for money”. Darrin Woods, the Bahamas Hotel, Catering and Allied Workers Union’s (BHCAWU) president, told Tribune Business that workers at Atlantis and other hotels that are part of the Bahamas Hotel and Restaurant Employers Association (BHREA) bargaining group have had to
DARRIN WOODS wait for all pre-industrial agreement visitor bookings to “exit the system” before the gratuity element is fully implemented. “All the emoluments and increases have gone
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