I just liked this picture of Uncle Bertie, delivering a speech about how his "dreams for autonomy" have not yet been realised, and the "the story will build itself stone by stone, until the objectives have been met". It looks more like he is telling a fishing story after a few jugs of vinho seco if you ask me.
(20th July). ‘Jardim Discredits Poll – The president of the government says that it is a strategy to distract the voters’. Referring to the election poll about people’s intentions to vote ‘if the national elections were held today’, carried out by the Diário (see yesterday’s blog), Jardim says it is a tactic to disinterest voters. He claims that the Diário always carries out surveys that show the PSD in a strong position, because then people will decide that there is no need for them to vote. Why not get your pet newspaper to do one Uncle Bertie, that way you can waste a bit more taxpayers money, and at the same time use the information to discredit the Diário … I don’t think you would take up that challenge somehow.
‘Parties Prepare Cheap Campaign – Some political parties say they have less than a thousand Euros to spend per district’. The main party leaders are busy doing their accounts, with two election campaigns to fund, and these have to be submitted to an auditing function within the next few weeks. The task is not yet completed, but it is becoming clear that there is less money for propaganda and festivities, and budgets are expected to be between 30 and 60% lower than 4 years ago. The CDS / PP says it will spend a third of what it had in 2005, and the spend will be restricted to just what the state gives the party for this purpose. The socialists will have cuts of at least 20 – 30%. The Left Block of Madeira (BE) says it will have little over €1,000 to spend across each the 11 districts of the two islands, and their campaign will be very modest. The BE coordinator also says it would be disrespectful to spend too much in a time when people are suffering financial hardship and unemployment is so high. The social democrat coordinator says it is too early to tell, but he expects the largest party of PSD ‘to follow the general trend’. As an example he said that the forthcoming festival (rally) in Chão da Lagoa will cut back to having a ‘B list’ artist (group/musician?). Ok times are tough in politics, great for the population at large me thinks with less hype and eyesores. However, the council here in Ribeira Brava arranged a almost surprise concert night here for last night, presumably funded by taxpayers money, but with no political presence. Was this an attempt to gain ‘brownie points’ with the electorate using public money, or an act of pure benevolence with the PSD gaining no advantage whatsoever?
Just 6 articles in the main political section of the Diário today, but 5 were election / candidate related.
In the economy :
(20th July). ‘Zona Franca On A New Black List – The Italian government places Madeira amongst the financial paradises’. Italian ‘anti-crisis’ legislation has named the tax advantageous facility at Caniçal as an undesired offshore tax haven because of new tighter criteria, according to an Italian newspaper. The new law which pinpoint locations where businesses would pay less than half the tax (13.75%) they would pay in Italy, means the government would take action against them. "The surprise is that with these new parameters there are some important European partners such as Great Britain, the Netherlands, Ireland and some fiscal zones in Portugal (such as Madeira) and Spain (like the Canary Islands) that are likely to fall inflexibly under the Italian law, in the same way that as the Cayman Islands or the Cook Islands do", said La Repubblica newspaper. That’s typical of Italian politicians to be a step behind the rest of Europe, that already accept Madeira’s tax zone as open and transparent in it’s operations … somebody needs to buy them all a cornetto to cool off those overactive political brains.
’100 Biggest : Sá Employs More Than One Thousand – The Madeiran group counts on 1,178 employees in the units spread around 5 regions of Madeira and also in Lisbon’. It looks that this is the Diário featured company this week, and as it’s a household name I will cover it today. Fifty-three years after opening a small shop (Pérola dos Cafés), Jorge Sá now heads a group that is one of the largest employers on Madeira. It has 20 ‘points of sale’, of which 4 are traditional Hiper Sá stores, and several others with different brand names, as well as a hotel in the Azores. 633 of the employees are employed in Funchal. 76% of the employees are women, and overall there is a "curious" average age of around 36. The company takes its training seriously, ensuring that employees have 35 hours a year. Staff costs amount to €12.8 million per annum, and turnover for the group was €140.4 million in 2008. So is the Diário suggesting that Jorge Sá prefers to employ ‘young chicks’, I for one wouldn’t believe that!
‘Farmers Earn 60% More In Eight Years’. President Jardim said yesterday that the average income of the Madeiran farmer increased from €2115 to €3379 between 2000 and 2008, citing official data from Portugal. Banana producers, on average, increased their income by €317 between 2007 and 2008, he said at the Banana Show in Madalena do Mar, as production rose by 11%. Banana exports also increased by 10.7%. It is hard to believe that so much manual effort brings so little reward to farmers. In some countries in the world farmers wouldn’t get out of bed for less than 10 times that.
‘Expomadeira Exceeds Expectations – The Economic Activities Fair of Madeira closed yesterday in Funchal’. The results were very good, with the attendance of public and businesses / exhibitors, and even sales, that covered the 9 days of the event. 73,000 people came, 2,000 more than last year, and that was with a full day still to go. The event does provide entertainment and facilities for families, so it is not just a dull day of business. This year was the 26th year for the event.
(19th July). ‘Ricardo Salgado, President OF BES, Says That The Worst For The Banks Has Now Passed’. In an interview with the Diário, he states that in world banking the worst has passed, because there is now money available, but we are still in a negative economic cycle that no one knows exactly when it will end. As for his own bank Espirito Santo, he says it was one of the few in Europe that managed to raise it’s own capital without state intervention or help, and is now looking at developing new business in Africa.
