Flipping Grand Bahama

Again I attended a Flint Stone Inc's event last evening ... a mixer ... where the guest speaker was Wenrick Clarke, Bank of The Bahamas Branch Manager. Noting the present state of Freeport he said he feels that we would take another two years to get out of the doldrums. Interesting analysis. But what he said that was even more interesting was that fact that people do become rich during depressions. This is so true. Googling this here is a list of ten: 1. Baseball star Babe Ruth, who made $80,000 a year in Depression era dollars 2. Robber John Dillinger, who raked in more than $3 million in todays dollars 3. Supermarket pioneer Michael J. Cullen, who left Kroger in 1930 to start King Cullen Grocery 4. Film star James Cagney, one of the top money makers in Hollywood in the mid 1930s 5. Charles Darrow, creator of the Monopoly game who became the world's first millionaire game-designer. 6. Oil man J. Paul Getty, who snatched up depressed oil stocks with his inheri...

Last week's post on starting a business in 10 days brought a lot of discussion and I particularly loved what Erik Russell had to say about starting a business: " Too many people want to start a business in 10 days but have no plan for 10 years. It's like people who spend so much time and money on their wedding without thinking about their marriage. Yes, there are steps you have to go through because that's what  responsible entrepreneurs do. Just because you have an idea doesn't mean that you have a viable business. If you are 'open today and closed tomorrow' then you probably shouldn't be in business. And those that think that a GBPA business license has no value (or is equal to a gov't license), don't know what they are talking about! There are lots of business opportunities in Freeport, just not enough people that are effective business owners with sufficient capital to start and sustain a business during the startup period (typically 2-3 ...