OFFICIAL CLICO THREAD

[AbstractPoetic]

im sorry for those who have $$ invested in those places now...
and carnival eh even done yet....watchout after

Investments have not been harmed. Investor confidence has.

More than likely there will be a mass rush to transfer assets overseas, in offshore accounts or in markets outside the Caribbean.

Either way, this will not have a good ending, especially for the poor.

[Picasso]

More than likely there will be a mass rush to transfer assets overseas, in offshore accounts or in markets outside the Caribbean.

pfffft... I am a garbage man and know that!! Tell us something we don't know

[AbstractPoetic]

More than likely there will be a mass rush to transfer assets overseas, in offshore accounts or in markets outside the Caribbean.

pfffft... I am a garbage man and know that!! Tell us something we don't know

It makes absolutely no sense to do this, but, alas, fear will have a ripple effect.

[wrxdevil]

1st sign.......rbl fete cancelled......

[RASC]

1st sign.......rbl fete cancelled......

Why They coulda make back the money-make it into ah dollar fete

$5 for V.I.P

...and hope a Billion or so ppl show up

[silversurfer TnT]

anyone know what CLICO shares are valued $ in RBL?

[equipped2ripp]

I'm guessing $86.00 - the value on the stock market.

[silversurfer TnT]

then they have over 7 billion dollars worth in shares ?

[aR&D]

unit trust is the safest bet in town
doh forget it was a govt backed scheme for the govt type people
who wanted an alternative from the colonial race banks

long time a bank used to be a prestige place to work

that to a very large extent is true.

One must never forget however that during the 1st term this present PNM govt' administration, they signaled their intent to get their hands on the $10B in UTC investments to fund their various schemes, one of which was the Smelter Project... and that is the very frightening part, the access the pnM-parasites have to investors money

[slick]

Who need fire proof safes to buy?

[V2NR 3.0]

unit trust is the safest bet in town
doh forget it was a govt backed scheme for the govt type people
who wanted an alternative from the colonial race banks

long time a bank used to be a prestige place to work

that to a very large extent is true.

One must never forget however that during the 1st term this present PNM govt' administration, they signaled their intent to get their hands on the $10B in UTC investments to fund their various schemes, one of which was the Smelter Project... and that is the very frightening part, the access the pnM-parasites have to investors money

Wow...was unaware of this knowledge

[Notorious Scullman]

Interesting find here.
I picked this book up a few years ago. Then on Friday remembered a strategy employed by CL years ago.
Couldn't be bothered to type it out and couldn't find it online.
Have a read:






Coincidence?

Survivors need to be liquid in times of depression

[honda4life]

interesting find scully

[Dragist]

Good find some good reading there .

[slick]

Wow...great stuff there man.

[civic minded]

so what is the bottom line to this ? predicting that everything will be fine?

[FCCA]

duprey gave up clico to the govt, the gov't inturn took all clico's liabilities and put it into their bank. in order for everybody to get back thier money they need to sell out all clico's assets and pay everybody, but we all kno that is not gonna happen. pple who have money invested MAY only get back a fraction of what they own. so bottom lime it doesn really look good!

[pugboy]

the govt is bailing out clico and saying the CL empire will be stabilized,

but one thing for sure is that few if anybody will buy a clico insurance policy or pension plan so it is very likely that all them clico/colfire insurance offices gonna close down due to lack of business, so plenty of them office staff, insurance/fund sales agents gonna be out of work, mind you, many have other side work.

it took FCB many years to get enough commercial business and operate in the same league as the other banks after the ncb/workers bank bacchanal

[teems1]

the govt is bailing out clico and saying the CL empire will be stabilized,

but one thing for sure is that few if anybody will buy a clico insurance policy or pension plan so it is very likely that all them clico/colfire insurance offices gonna close down due to lack of business, so plenty of them office staff, insurance/fund sales agents gonna be out of work, mind you, many have other side work.

it took FCB many years to get enough commercial business and operate in the same league as the other banks after the ncb/workers bank bacchanal

then thats good news for the other big companies. Guardian Life, Maritime and Sagicor

[eliteauto]

duprey gave up clico to the govt, the gov't inturn took all clico's liabilities and put it into their bank. in order for everybody to get back thier money they need to sell out all clico's assets and pay everybody, but we all kno that is not gonna happen. pple who have money invested MAY only get back a fraction of what they own. so bottom lime it doesn really look good!

very unlikely, you are basing your response on the assumption that every investor will be cashing out their CLICO investments, but many savvy investors are not doing that, just yesterday the Credit union Association gave the assurance that they will be retaining their numerous investments in the Group

the govt is bailing out clico and saying the CL empire will be stabilized,

but one thing for sure is that few if anybody will buy a clico insurance policy or pension plan so it is very likely that all them clico/colfire insurance offices gonna close down due to lack of business, so plenty of them office staff, insurance/fund sales agents gonna be out of work, mind you, many have other side work.

it took FCB many years to get enough commercial business and operate in the same league as the other banks after the ncb/workers bank bacchanal

Firstly insurance policies are but one of the products offered by CLICO, and bear in mind that CLICO is still in business and is not being wound up, also long term group pension plans are unlikely to be touched by major companies and corporations as they have been successfully managed in the past, ever thought that with Gov't control there may be more business for CLICO from the same Gov't?

Secondly the amt of years taken by FCB is now a moot point, especially considering that they now have the assets and proven management skills to deal with the takeover of these firms now

Bear in mind CMMB is remaining in business and will continue under it's current management, FCB now has a brokerage house

[neilsingh100]

I have to agree with corollalover101.

In the long term Clico will be fine. I think this is one case where the Clico, Central Bank and Government did the right thing.

Many of the large institutional investors will keep their investmnets with Clico since they are now government backed and deemed too big to fail making them a safe investment.

Actually Clico investors/policy holders that locked in high interest rates will come out winners since their investments now come with an implict government guarantee.

[streetbeastINC.]

shyt...rel ppl went and withdrew their cash on friday from rep.......

[Notorious Scullman]

shyt...rel eediots went and withdrew their cash on friday from rep.......

fixed

[Dragist]

^^^ Agreed

[Damien]

It amazes me how you all seem to know everything about everything

[teems1]

I have to agree with corollalover101.

In the long term Clico will be fine. I think this is one case where the Clico, Central Bank and Government did the right thing.

Many of the large institutional investors will keep their investmnets with Clico since they are now government backed and deemed too big to fail making them a safe investment.

Actually Clico investors/policy holders that locked in high interest rates will come out winners since their investments now come with an implict government guarantee.

huh? Clico did the right thing allowing themselves to reach this point?

The only reason they are being bailed out by the Gov't is because Clico fits the bill of 'being too large to fail'. If this were to happen to a smaller insurance company they would have never gotten the taxpayer's money.

Once this entire debacle is over, the Gov't should remind the good people at CL that if you are too large to fail, you are too large to exist.

I expect heads to roll in Clico. Every executive, manager, investor, etc who caused this should feel the axe.

[neilsingh100]

FYI- if Petrotrin/NGC was to withdraw US$120 million from any finanical instituion in this country they would face liquidity issues also so Clico is not to take all the blame.

Petrotrin will mostly likely be the next one asking for some finanical help from the government since they are operating with some huge deficits and from what i hear they are burning through cash at a stagging rate.

[tr1ad]

meh money eh moving - why?

because all my investments were guaranteed

[brams112]

just a little info, two weeks someone got a call from a friend working clico saying there might trouble with clico,this call was at 5am the guy who got the call withdrew his investment,did not think any thing might happen,turns out friday he was laffing his two million was not sinking,so how did this just happen to clico on friday?i smell a big ripoff on people.If clico have so much to fall back on how come they sank?Too much investing in wrong places that they think they will make a killing,trincity,woodbrook place,places for pnmites to enjoy with taxpayers footing the bill,normal smook screen,,,,,,,,,,, ,i say give investors condos,condos not a condo for compensation,because one woodbrook place will loose value in time of completion.

[FCCA]

meh money eh moving - why?

because all my investments were guaranteed

WERE being the key word. hopefully Clico will fight through and be stable once more, but the other things pple have to look at is the fact that it was a rif between Duprey and andre montie which started the collapse of CLico. they couldn agree and montie caused "big rollers" like coosals to take millions out. so i dont think pple should jus go on sayin yea everything will be fine.