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#73297 - 09/08/03 02:27 PM San Pedro Hardware closed?
Marty Offline
From the Guardian

Wednesday 3 September 2003

As we go to press, news has been received that the San Pedro hardware store, one of several businesses run by Harmouch in San Pedro has folded and its owner and family are nowhere to be found. The owner simply got up, left the store and has not been seen since.

While information is still sketchy, our informant in San Pedro reports that operatives of Benny’s Hardware were seen on Saturday removing products from the store they had sold to Harmouch on credit. The same was observed on Sunday, this time it is alleged that it was employees of Brodies who were observed removing products.

While the information reached us too late to check with the Belize Bank, our sources say that the Bank is left with a $4 million loan and have already filed papers in the courts and appointed licensed auctioneer Kevin Castillo as receiver.

We were not able to verify which of the many Harmouchs on the island owns the store but were reliably informed that it is the same Harmouch associated with the Fountain Blue Hotel which was built in San Pedro with an $11 million loan from DFC, declared open by the Prime Minister himself, and then was placed in receivership six months later.

#73298 - 09/08/03 02:32 PM Re: San Pedro Hardware closed?
bywarren Offline
Great info Marty. Should be of use to those thinking of starting a business in Belize. Shows the importance of not bring pre-determind ideas on how things should be done in order to succeed. I think the saying goes something like "When in Rome ---------". laugh

PS: I am also quite shocked and concerned that you would put this on our beloved message board opening this up for discussion. Talking about this is obvioulsy another example of sticking our nose in their business and trying to run the country. I will attempt to find and post the number of bankruptcies in the US to clearly show it is a bigger problem here. I will even bet it is the huge demand for loans in the US that encouaged the Belize Bank to supply loans there. :p

#73299 - 09/08/03 03:14 PM Re: San Pedro Hardware closed?
Denny Shane Offline
Well, I think there is a slight difference here with the details of the San Pedro Hardware.

While bankruptcies in the US total a whopping thousands of corporate and personal bankruptcies, no one notices nor does anyone really care.

However, when a business in San Pedro goes under, or the owners disappear, it is BIG news. Personally, I think Marty does a great service since many Belizeans visit this board on a regular basis.

#73300 - 09/08/03 03:26 PM Re: San Pedro Hardware closed?
dogmatic prevaricator Offline
If you polled the folks that worked at Enron & WorldCom, or their creditors, I’ll bet you find that people that care. Greed, fraud, and linings your pocket at the expense of others isn’t limited to first world enterprise or politics, although the bush cartel is leading the way.

If you must choose between two evils, pick the one you've never tried before.

#73301 - 09/08/03 03:34 PM Re: San Pedro Hardware closed?
bywarren Offline
You are correct, Denny. You would have been more correct if you would have said "there is a HUGH difference". We do not have all the facts on this recent issue, but we do have enough facts on the Fountain Blue to know that if the same thing was done in most places, it would be described not as a foreclosure or bankruptcy, but as a con, swindle, scam, embezelment or something along those illegal terms.

PS: I think dog's comments are another example of evading the issues at hand by using an "apples and oranges" approach. Having said that, I will fall into the trap myself and respond by saying, people are going to jail in the Enron and Worldcom examples. Let's see what happens in Belize.

PPS: I am still reading dog's comments trying to figure out the relevance. All I can come up with is that his position is "S--t happens, and I am a democrat". :p

#73302 - 09/08/03 04:33 PM Re: San Pedro Hardware closed?
dogmatic prevaricator Offline
And I thought I was a dogmatic prevaricator. Go figure.
If you must choose between two evils, pick the one you've never tried before.

#73303 - 09/08/03 05:49 PM Re: San Pedro Hardware closed?
bywarren Offline
Tell us Dog, which part of Webster”s definition do you feel best describes you? “Prevaricate: to deviate from the truth: speak equivocally or evasively; loosely or to lie”.

If it wasn't for Bill Clinton, you could give a bad name to democrats. laugh

#73304 - 09/08/03 05:57 PM Re: San Pedro Hardware closed?
dogmatic prevaricator Offline
bywarren, please access and review the following link. I only hope you will be enlightened with this information and see the many striking similarities in your board behavior.

If you must choose between two evils, pick the one you've never tried before.

#73305 - 09/08/03 06:08 PM Re: San Pedro Hardware closed?
sandman Offline
damn, there goes the best money changer too. I was always able to get BZ220 for my US100 from Harmouch.

#73306 - 09/08/03 06:13 PM Re: San Pedro Hardware closed?
bywarren Offline
You are right Dog. I can see the similarities you use someone else's intelect to point out. Oh, what a joy to be part of the club. :p

PS: Before this post deteriates further into political mud slinging, let it be known that I am neither a "flaming" liberal or right wing conservative. I am in the middle. I think Nixon should have resigned and Clinton should have been impeached.

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