Tenants Don’t Pay ; Law To Reduce Redundancies ; Flower Exports Struggle
(15th May) The ALM, Legislative Assembly of Madeira, is to consider a proposal to pass a law that will stop large companies making mass redundancies, if in profit. If passed, the proposal of the PSD-M will protect workers until 31st December 2010, as long as the company they work for has a million euros in liquidity (profits?) over the previous accounting period. Life and business doesn’t work like that unfortunately, but no doubt it will be a vote-winning idea amongst many employees in large companies.
(17th May). ‘Quinta de Gaula in difficulties – Transport costs hinder export of proteas flowers’. Between January and April, ‘Quinta Protea’ had a production output estimated at 60 thousand flowers, corresponding to 10% of the Madeira market. Despite the high demand for the eight species of proteas grown in Gaula, the seven year old business is currently facing serious financial difficulties. The main problem of the management is the transport costs. The increases in the price of fuel have pushed prices up in the last four years, and with the rates of export, have combined to lower the price of the flower resulting in a sharp drop in revenue for Proteus. Although the quality of the plants, grown in the soil of Madeira, ensures strong demand from the Netherlands, levels of production do not allow the region to compete with the Canaries and the Azores, and make it impossible to penetrate markets such as France or even the mainland.
(18th May). ‘IHM Has Tenants Who Don’t Pay – Debts of unpaid rents rise above the €12 million mark’. Investment Housing of Madeira finished 2008 with a negative result of €1.1 million. In a year marked by a 3.7% fall in income, worth €20 million, the government linked organization was guaranteed a specified and limited income through the regional budget. This is the near equivalent of a government backed housing association, if I understand correctly.
BPI Bank now have their internet banking website available in English for those who need it. Just select the option at the top of the log-in page, and then log-in. It doesn’t have all the options that the Portuguese version shows, but it’s a start for those who would find English easier to work with.
