I found this video on the Jamaica Gleaner's[local paper] youtube channel a few months back and I had to make note of it. To bring everybody up to speed in one sentence Cash plus was a company that tried to pass them self off as an investment club that offered high returns that of course turned out to be big pyramid scheme and a lot of people lost their money. The big boss of cash plus, Carlos Hill, has recently making the nightly news as he has now been evicted from his house as it is to be liquidated to help pay the receivers, investors, cash+ ex employees, .... long list of people he owes. It is a very sad situation for the people in the video but I do not feel sorry for them, the local regulatory bodies went far beyond their duties to tell people to stay away from these schemes and to date they have all toppled over.
I too have lost a significant amount of money in legitimate regulated investments as well with the down turn of the economy. I have essentially written off my stock and equities based unit trusts as they have lost more than 50% of their value with no signs of coming up anytime soon but the difference is I knew the risk going into them and I could afford to take the hit. I just need to pretend they don't exist and if the companies don't wind up I could probably break even[- potential interest] if the companies/economy recovers in a couple of years, so all is not lost yet.
I see on stunner's blog that they made his entire dept. under him redundant, I also heard today that 20% of the people in my dept. will also be made redundant. I should be worried but for some reason I feel safe[foolishly?] for now. So what have y'all been doing to weather this storm? I have been mostly against this due to time restrictions but I took on a small job on the side for May/June as a consultative type role. I drafted my first invoice and was proud. I could totally keep doing this if I had the time but my day job keeps me pretty busy. One still has to be mindful of the fact that they are cutting people left right and center so I should probably explore other opportunities. I do have some skills I should be able to capitalize on:
- Photography
- micro controller application
- programming/web dev
- fsf consultation
- personal accountant/debt advisor
6 comments:
I had no idea people had been warned about CashPlus
but still from what I heard from people it always did sound too good to be true--even to those who were always looking for more cash so it's really too bad but we've learned a great lesson all over again. If it sounds too good to be true, just wait it out and you'll see you were right all along.
That is exactly how I felt about them, GC!
Interesting set of skills, Adrian.
I'd prolly have to exercise that talent that my family would sprinkle me with holy water with. I'm just saying...
lol, how much do you charge for debt consultancy? I want a million dollars by a morning, what should I invest in?
Dear Sir,
That goal is unrealistic but if you need to do it u can invest in a fake identity and start a fake investment club, then you will have many multiples of that by the following week.
That will be $10,000.00 please.
I have heard about people who sold their vehicles and houses to invest in cash plus! I am not sorry for them. Life is about risk and such an investment is risky, if one is brave... or foolish enough to enter, invest only money that one can afford to loose not all of your life savings!
Well the way how things are going, you have to keep an open mind where making a living is concerned. I have even though about selling t-shirts from the back of my car!
LOL! your advice to Owen is classic!
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