2008 was certainly as year of ups and downs, but more importantly, it was a year when a hand full of business people made such an impact it shifted the economy with every move they made. Outlined below, are what we consider to be the winners and losers for 2008; this is based primarily on the impact of the activity both on consumers and the economy. There is always controversy in these selections and so we expect them. So here goes….

Story of the Year – Cash Plus and Olint
The fall of Olint, Cash Plus, and the two men who ran these companies are by far the biggest stories of the year. Their activities impacted many in Jamaica and as far away as the UK. These two companies changed and rocked the Jamaican financial landscape in 2008. David Smith and Carlos Hill are both credited as the founders and architects of the alternative investment plans that sucked in so much money that it has left countless thousands still wondering where it all went and will they ever get their money back. One thing is for sure, high interest rate returns will have a very different meaning from now on.

Biggest loser of the Year – Alternative Investors
“Based on what we have investigated there is no money, we have not identified any money in Jamaica to repay investors.”

The word on the street was that there was no money and that investors were going to lose money put into the schemes. But when the Head of the Organised Crime Investigation Division (OCID) Fitz Bailey revealed in court that Cash Plus had no money in Jamaica to repay its investors, everybody’s worst fear was realized, and then came the Olint revelations. Olint was expected to make a significant payout. The deadline came and went with no good news for its club members, many of whom had not received a payment since the beginning of the year.

Deal Of The Year – Angostura acquisition of Lascelles
The announcement that the Trinidadian company Angostura had offered to pay US$618 million for the acquisition of Lascelles Demercado, one of the largest conglomerates in Jamaica, was by far the biggest acquisition ever made in Jamaica and may take many years before this can be topped. Essentially, Angostura anticipated that the acquisition would cost US$618 million (J$44.5 billion) or US$9 per share. The deal was initially cast as a potential US$900 million (J$64 billion) acquisition.

Best New Product for the Year – Carlton Savannah REIT
There are those within the local investment community who have labelled the recent IPO for the Carlton Savannah REIT as a failure, but from a pure marketing perspective it’s the most innovative new product to hit the Jamaican market this year. The Real Estate Investment Trust is Jamaica’s first and only real-estate investment trust and the potential for growth under this model is huge.

Marketing Campaign of the Year – Digicel 14 Mini’s
It’s hard not to award this to Digicel for their 14 mini Christmas campaign and quite frankly the way they dominated the last quarter of the year. Unlike the other two mobile players who also launched Christmas promotions, Digicel has learnt from its past experience. The vast majority of mobile phone users are middle and lower income prepaid consumers. Offering them a chance to win a Mini Cooper motor car is far more acceptable as it’s much easier to maintain and can fit more easily into their current lifestyles. Claro offering a Mercedes is a “been there done that” for Digicel and LIME who offered BMW’s in the past. These kinds of high end vehicles are harder to maintain and did not fit into the average consumer’s lifestyle. LIME missed the ball completely, rather than spread the US$1M or JA$78M around to more people, they decided to offer it to one person in the Caribbean.
In terms of a come back, Claro’s “don’t MINImise” advertisement was a great play on words and really impacted.

WOW FACTOR OF THE YEAR – The new Anbell store launch and massive wrap around video boards by Digicel