steven ! Posted November 3, 2008 Share Posted November 3, 2008 Manx Radio Perhaps someone outside of this generally rich and greedy Island has taken note of how things are done here and has given Obama a quick precis. From my own experiences, one thing that certainly does not stand up to generally accepted decent Western morals is certain aspects of the way things are done in the legal arena - but therein lies a whole new sorry subject. Link to comment Share on other sites More sharing options...
manxman8180 Posted November 3, 2008 Share Posted November 3, 2008 I think he has bigger issues than us. Link to comment Share on other sites More sharing options...
Albert Tatlock Posted November 3, 2008 Share Posted November 3, 2008 I think he has bigger issues than us. I wouldn't underestimate the potential regulation and moves toward transparency in the finance sector. I would say that, in current circumstances, this is actually one of his first priorities. As Blair was a poodle to Bush, Gordon Broon will be a poodle to Obama over this I suspect. Like it or not, the fact that KSF has had problems here, IMO makes us one of the first ports of call for the 'all seing eye'. That's why I keep banging on about us being more proactive over all this, not waiting with our heads in the sand until we get a bullet in the ass from the crossfire. Link to comment Share on other sites More sharing options...
pongo Posted November 3, 2008 Share Posted November 3, 2008 I wouldn't underestimate the potential regulation and moves toward transparency in the finance sector. You say that as if 'regulation' and 'transparency' were pejorative terms. Link to comment Share on other sites More sharing options...
manxman8180 Posted November 3, 2008 Share Posted November 3, 2008 I don't underestimate. However, I'll say it again. I think he has bigger issues than us. Link to comment Share on other sites More sharing options...
Albert Tatlock Posted November 3, 2008 Share Posted November 3, 2008 I wouldn't underestimate the potential regulation and moves toward transparency in the finance sector. You say that as if 'regulation' and 'transparency' were pejorative terms. I mean to the extent of 'retaining control of our own affairs and destiny' i.e. fight our corner, and prove we are a well regulated jurisdiction - so we don't get tainted by the same OECD/political brush as others that are not, and caught up in solutions aimed at them. Relying on a PR company to fight this corner, simply isn't working. Link to comment Share on other sites More sharing options...
manxman8180 Posted November 3, 2008 Share Posted November 3, 2008 Is there any evidence that it 'simply isn't working'? Not taking the piss, would be genuinely interested if you knew of anything. Link to comment Share on other sites More sharing options...
Albert Tatlock Posted November 3, 2008 Share Posted November 3, 2008 Is there any evidence that it 'simply isn't working'? Not taking the piss, would be genuinely interested if you knew of anything. Recent channel four news report, various newspapers regularly, Alan Bell's comments etc. - clearly the message isn't getting across. Link to comment Share on other sites More sharing options...
pongo Posted November 3, 2008 Share Posted November 3, 2008 so we don't get tainted by the same OECD/political brush as others IOM was scrutinized and criticized by the OECD appx 10 years ago now. The criticism was acknowledged and accepted by the IOM authorities who took steps to change matters. AFAIK the IOM is friends with the OECD these days. Ultimately international regulation of finance is important. The recent investor and media scrutiny has related to real issues - rather than some PR failure. Link to comment Share on other sites More sharing options...
Albert Tatlock Posted November 3, 2008 Share Posted November 3, 2008 The recent investor and media scrutiny has related to real issues - rather than some PR failure. I didn't say it didn't - however, effective PR (getting across the real issues/side of the story) is how you address things like this at a time of crisis. Allowing this investor/media scrutiny to get away with blatent falsehoods, paints us as something we are not and will have a future impact. Link to comment Share on other sites More sharing options...
manxman8180 Posted November 3, 2008 Share Posted November 3, 2008 Recent channel four news report, various newspapers regularly, Alan Bell's comments etc. - clearly the message isn't getting across. In fairness all the PR in the world isn't going to stop every bit of news. The KPF thing was going to make headlines (and rightly so) no matter who, what and how much money you spent on PR. IMO, engaging the services of professionals in this area is a decent step. We could probably do with more of it (good PR that is), I agree, but I don't believe we could do it in-house. I would imagine that someone from Lansons would have greater access and 'ears' than our lot....... "Chancellor, It's a Mr Brown from the Isle of Man on Line 2 and he's a bit pissed off" Link to comment Share on other sites More sharing options...
Albert Tatlock Posted November 3, 2008 Share Posted November 3, 2008 I would imagine that someone from Lansons would have greater access and 'ears' than our lot....... "Chancellor, It's a Mr Brown from the Isle of Man in Line 2 and he's a bit pissed off" Don't disagree on that one - but getting David Callister on TV etc. a bit more would be a good start though. If you think the PR company is doing the best job, you need your bumps felt. There's more evidence it's not, end of. Link to comment Share on other sites More sharing options...
manshimajin Posted November 3, 2008 Share Posted November 3, 2008 Don't disagree on that one - but getting David Callister on TV etc. a bit more would be a good start though. If you think the PR company is doing the best job, you need your bumps felt. There's more evidence it's not, end of. Albert I think you're right on this. The IOM has a good record and a good story to promote but if it does not do anything it will be seen as a similar to Monaco. Whatever we do we should not try to paint Obama as 'the enemy'. Perhaps they should mail a copy of these OECD statements to the Congress and the next President? Netherlands OECD Secretary-General Donald J. Johnston welcomed the agreement as an important step forward in the global effort to detect and deter abuses of the global financial system. “... This agreement confirms the Isle of Man’s commitment to implement high international standards, thereby reinforcing its stature as a responsible international financial centre”, he said. Nordic Countries The latest agreements bring to nine the number of such agreements entered into by the Isle of Man, thus enhancing its international standing and strengthening its integration into the international financial system. The Isle of Man has played a leading role in the OECD’s initiative to improve transparency and exchange of information in tax matters. And one from Ireland: Ireland “The Isle of Man was one of the first international financial centres to make a commitment to the OECD principles of transparency and exchange of information and has since then taken the lead among smaller international financial centres in implementing these principles. To date, the Isle of Man has concluded Tax Information Exchange Agreements with the USA, the Netherlands and the seven Nordic countries.” Thinking laterally I know the Irish Government is also nervous about the potential 'protectionist' policies that Obama might introduce so they may be better allies in this than the UK - and maybe better connected in the USA. A little bit of cooperation might not harm. The CM might also get his friend the Lord Mayor of London to add his comments to help define the benefits of an offshore financial market. It is important not to confuse the KSF situation with any suggestion of tax evasion. The issues are quite different and I assume it is the latter not KSF that Obama might try to make political mileage out of. Done properly he could even use us as a 'model' of the right way of doing things. Link to comment Share on other sites More sharing options...
manxman8180 Posted November 3, 2008 Share Posted November 3, 2008 David Callister? Are you having a laugh? Instant turn off material for most I would think. And keep your hands off my bumps. You will never avoid the odd press story. Todays newspaper is tomorrow's chip wrapping and all that. The media doesn't print good news stories. How much does the UK Government spend on spin and PR and yet all sorts appears. You are never going to stop it. My point is that paying PR proffessionals is a good step when you consider the alternatives! Alan Bell / Tony Brown on primetime? Mind you Alan Bell might go down well on Graham Norton. His show is on a bit late though. Link to comment Share on other sites More sharing options...
manshimajin Posted November 3, 2008 Share Posted November 3, 2008 My point is that paying PR proffessionals is a good step when you consider the alternatives! Alan Bell / Tony Brown on primetime? The common ground is that there is a need to get the correct story out there to the people who matter - and we have a good story supported by the OECD. Still like the idea of talking with the Irish Government who will be lobbying in the US to try and preserve the advantages of their own low corporate tax situation for US businesses. Much better allies on this, I suspect, than the UK Government. Ultimately a good lobbyist who is financially literate is needed. Can't afford politicians with limited financial understanding going off half-cocked (or trying to criticise the US President). Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.