Donald Lines, President, Millpoint Ltd.
“Overall, I’m optimistic about the future. Bermudians have, in the past, been very adept at anticipating changes in the world and competitive circumstances. We live in what is considered a dream world, with a very high standard of living and virtually full employment; we have been fortunate, if not clever, in maintaining this charmed existence. My grandmother, Hannah Lines, always said ‘God holds an umbrella over the island’, and I believe she was right.
“But there are storm clouds on the horizon. Can we weather the approaching tough times? I believe we can, as long as we don’t have unreasonable expectations. I hope that this generation doesn’t think that what they see here has always been here, or that it will always be here. We have always had to work for our success, and without being adaptable and clever, we will not be able to compete in the difficult times ahead.
“We need people with vision who can point the island in the right direction. This isn’t an easy thing to do when self-interest is the primary interest. There are more voices that want to be heard, and everyone is trying to carve up what is here. In the early days, there were fewer players and we were more focused. We need to get that focus back.
“To regain this direction is to reinvent how we view ourselves. Some of our character has suffered as a result of our success. Bermuda is like Switzerland in its nature, but we no longer have the same qualities. We need to regain these qualities and provide a level of service equal to, or better than that offered by any major city in the world. When we realise once again that we are not entitled to anything and must work for it, we can be back on the same footing as Switzerland and other comparable countries.
“For an island with no resources, we have managed to build Hamilton into a successful business centre. We continue to be an attractive, highly sophisticated and enjoyable place to live. Provided we continue to be resourceful and clever enough to understand what is going on, we’ll be fine. I am optimistic that we can continue to prove my grandmother right.”
Sir John Swan, Former Premier and Chair, John W. Swan Group of Companies and Challenger Banks Ltd.
“The world first came to Bermuda because we were perceived to function as a whole - we worked together to make the country a success. We need to renew this sense of collectivism: people today don’t feel they are part of a bigger picture. This isn’t unique to Bermuda, but it is destructive to our society.
“Bermudians go to major cities around the world to shop, eat, socialise: Hamilton needs to look to other successful urban centres to learn how to enhance interest in the city. People want the buzz of a busy city - they want activity, interaction, entertainment and a sense of belonging. Government needs to have a vision and plan that has acceptance from the population, and they need to act fast.
“Hamilton has to become a place where Bermudians can live and interact at all times. Future growth has to enable people to live in the city. Build housing for young people who want the excitement of the city. Build hotel space in Hamilton. This will all bring people out to spend money and socialise.
“Look at everything Hamilton has to offer as an urban centre. The dock area along the waterfront would be an ideal location for entertainment, maybe even a casino. Get the docks out of Hamilton and develop the waterfront area with shops, restaurants, hotels and housing. Build a breakwater across from the city to White’s Island, construct a marina, and encourage big yachts to stay and spend their money for extended periods.
“We all need to start thinking outside the box. There could be new ways to attract money and spread revenues around: an attractive, lively harbour redesign would attract the upper-end of tourism; a casino would provide jobs for Bermudians. Remove the 60/40 law to attract upscale international shops, but retain the law for real estate, so Bermudians as landlords still have an opportunity to make money.
“We all have to work together to make Hamilton a vital, modern city. Individualism has stripped our society of fundamental values. We need to start to get back to the collective feeling of working for Bermuda as a whole, to renew the character that once made us so attractive to people and business around the world and then we can address the tough economic and social issues that we face.”
Ward Young, Chair, BDC Ltd.
“Hamilton is a dinosaur we must bring back from the dead. The only way to do this is to throw out the ‘sacred cows’ - we need to look for a new way to do business. And we don’t have time to waste. This requires a partnership with everyone in the community: employers, workers, the Corporation of Hamilton, Government and the people of Bermuda as a whole.
“We need to rethink how we work. Everyone in a business should feel that they are an important part of the organisation. Owners must consider their employees as associates; appreciate them, mentor them and compensate them for their contribution. Associates must show a higher level of commitment, which will come about with a stronger sense of belonging. The Corporation of Hamilton and Government need to remove restrictions and encourage proper, strategic development. Everyone needs to work together toward a common goal.
“Front Street is a ghost town. Consider St. Bart’s and Monte Carlo. These are both thriving tourist destinations - St. Bart’s on a much smaller scale, Monte Carlo to a larger extent. The Island of St. Bart’s has a population of about 6,000 people, on an island slightly more than eight square miles, and yet they have the chic shops and attract hundreds of thousands of tourists a year. Don’t tell me that we can’t do the same in Bermuda.
“This requires an investment in the retail sector, to bring it up to date. Why is there just a break on duties for hotels? Provide a delayed duty for all fixtures for the retail sector for five years. Eliminate the 60/40 requirement for all retail stores immediately, as well as duty on all clothing, china, watches, souvenirs and food. The Government should encourage - almost require - that retailers invest 25 per cent of their profits in remodelling, in return for a 10 per cent rebate on payroll tax. Banks could give relief as well through a five per cent interest rate. We need to shake up the industry to catch up to our competition.
“The Corporation of Hamilton and Government must become less staid - both should be spontaneous and just ‘do it’! We need to look to places like St. Bart’s and Monte Carlo, or major cities like Baltimore and Boston, for advice on waterfront improvement. There is so much that could be done to make Hamilton a more inviting place.
“To achieve all of these changes, there needs to be a place where ideas can be actively exchanged. We need a venue for open discussion and benchmarking. This will help to raise the level of thinking for business, and Hamilton, to a new level. And every member of the organisation needs to participate every step of the way.
“Change is all in the gut. There needs to be the will to do it. We can’t be afraid to do something new and different. And we can’t waste any more time.” BB |
Words from the Wise
