Solo di Pueblo ran an article: Agencia grandi di cuminda y bebida ta corta personal cu 50%; 60 trahador ta perde trabao, so I called, to find out more.
It is indeed a fact that one of the largest agencies on the island made a utilitarian choice: We are reacting to the reality in the market, we lost 65% of our sales, we paid full salaries for March & April, 100% pay, but in May in order to save the company we must let people go, management reports.
It is a realistic move, that spokesperson continues, we don’t like it; we love and appreciate our people, have coffee with them every day but it is better to let some people go, instead of killing the business altogether.
The company, opted not to take the wage loan subsidy, because it will not help it, in a long run, to be burdened by an unsustainable payroll.
We met with each and every one of our people, the spokesperson explains, we reached agreements, it will cost the company, but we are doing it the old fashion way, one on one, and some of our people will come back on an hourly basis, later, when business recovers a bit.
As a general statement, GOA has milked the food & beverage distribution import businesses and burdened them with heavy taxes for the past year and a half to the tune of 1.5M a month, each. “We told them, the burden is too heavy,” the spokesperson declares, “but they did not listen. So the virus showed up, and now everyone is hearing.”
Overall the company considers itself fortunate to only have lost 65% of its business and not 90% – 100% for example, some car-rental companies are stuck with hundreds of cars and no income, but with a diverse portfolio some of the company’s products are still moving, providing a much smaller, but still steady income.
The restructuring is painful, concludes the spokesperson, but the company experienced crises before, and will figure it out.
Cashless Society
One of my learned-friends suggested to convert Aruba into a Cashless Society. This will make all the issues of our giant gray economy disappear, he says, when cash is no longer a player, plastic is king.
And to get a debit/credit card, and own a bank account, you must comply with a number of requirements, which will weed out a certain population, the unbanked, most of them undocumented immigrants. Singapore has been moving towards the goal of becoming a cashless society, as part of being a ‘smart nation,’ where all financial transactions are conducted through the transfer of digital information, electronically.
And cashless transactions, are now possible, thanks to technology, they are fast, safe, they reduce criminal activity, they prevent the proliferation of counterfeit bills, they allow for good collection of data, they prevent disease, viruses transmitted by touching dirty money, and they force the gray economy out of business, and into main stream.
Millionaire migration
In search of alternative sources of income one of my learned-friends sent me an article outlining the top 10 countries to retire in, this year. Those countries are high on the International Living’s Retirement Index, including Vietnam, Mexico, Costa Rica, France, Spain, Malaysia, Ecuador, Colombia, Costa Rica, Panama, with Portugal as the best.
Why not Aruba?
The International Living’s Retirement Index measures the country’s position on the chart by looking at cost of living, quality of life, weather, healthcare, lifestyle, medical care, safety, and an overall sense of well-being.
My learned-friend suggests to Invite 5,000 retirees with a $5m plus net worth, to settle here, paying for their own health care insurance annually, and contributing to the economy, with no added pressure on police, schools, or even health care, since they pay their own way.
Invite 5,000 millionaires to live here, and give the economy a shot in the arm, he says.
