February 27, 2014

Dear Sir,

The possibility of the 60/40 rule being abolished is a cause for concern. In the US the small Mom & Pops stores have been put out of business by the large conglomerates.

What will happen, if Walmart, Costco, Best Buy, Walgrens, TGIF, Wendy’s and similar stores that are all over the US in every shopping mall, are allowed to come to Bermuda?

They have such large buying power, they can afford to sell items at a relatively low cost.

We cannot have the volume to compete with these stores. I remember some years ago, I purchased contact lens fluid from a local wholesaler, however, I could buy it cheaper at a retail price in Walgreens in the US. (This of course was not possible, because of the cost of air fare and hotel, but local residents away on a shopping spree would buy their

supplies.)

Local stores will go under, unless they prostitute themselves and form an alliance with one of these large organisations.

I believe the Chamber of Commerce said they were in favour. If that is the case, they will find there will be few Bermuda businesses in a short time, and the money will be leaving Bermuda, not staying in the island.

Yours sincerely,

Antony Siese