Barbados Retail Sector

Last year food prices increased almost nine per cent. This was on top of an eight per cent hike in 2006, a 7.1 per cent increase in 2005, and 4.5 per cent in 2004.

In 2007, the Fair Trading Commission said in its Inquiry into the Food Distribution Industry in Barbados that food prices in Barbados increased by approximately 25 per cent over the past three years. This was placed alongside an overall inflation rate of 13 per cent for all items sold in the same period.

Conservative estimates put the total sales in the retail food sector as approaching Bds$1 Billion at the end of 2007. Two years earlier (in 2005) the FTC estimated the amount at around Bds$883 million with about six chains contributing to that figure.

source advocate

THE ENGLISHMAN believed to be the mastermind behind a multi-million Beijing Olympics ticketing scam, reportedly arrived in Barbados in March, but left a month later for Miami

A senior police source told the DAILY NATION on Saturday the records also showed that a man bearing the same identity of the fraudster, indicated he had visited the island on previous occasions.

It was in the second semi-final, which Powell won in 9.91sec, that the event lost its much-hyped third key player with reigning world champion Tyson Gay failing to qualify.

The American strained a hamstring during the 200m at the US Olympic trials in June and hadn’t been able to compete in the lead-up to the Games.

Despite bravely trying to talking up his chances during the week, Gay looked rusty in the opening two heats and from lane nine last night he finished fifth in 10.05sec.

“I don’t know (what happened),” he said. “I just didn’t have nothin’ in me today. I ran as fast as I could. I focussed on the Olympics so I’m disappointed. I thought I would get into the finals.”

Gay, who clocked a wind-assisted time of 9.68sec at the US trials, refused to blame his hamstring on the below-par performance.

“The injury was a setback to my training, but that’s no excuse because my hamstring feels fine,” he said. “I feel great, I feel strong, I feel relaxed, it just wasn’t there.”

200m final

Treasury Secretary Henry Paulson said 5 million homeowners are in mortgage delinquency or foreclosure.

Bailout type Cost to taxpayers (Source: Reuters)
Proposed Treasury Department legislation $700 billion+
Bear Stearns financing $29 billion
Fannie Mae and Freddie Mac nationalization $200 billion
AIG loan and nationalization $85 billion
Federal Housing Administration housing rescue bill $300 billion
Mortgage community grants $4 billion
JPMorgan Chase repayments $87 billion
Loans to banks via Fed’s Term Auction Facility $200 billion+
Loans from Depression-era Exchange Stabilization Fund $50 billion
Purchases of mortgage securities by Fannie Mae and Freddie Mac $144 billion
TOTAL $1.8 trillion+


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