Bmda: To Kerry, careful how you're talking, oui

John Effin Kerry has made himself quite an enemy of Bermuda. Their newspapers are tap-dancing all over his every remark and laying bare his many hypocrisies. They're intent on making him pay for every mis-speak.

Presidential hopeful John Kerry, has been caught on the back foot again when it comes to his Bermuda-bashing tactics – this time through a captive formed in Vermont.

Democrat Kerry, of Massachusetts, criticised the former governor of Vermont, Howard Dean, for trying to turn the state into “a snowy Bermuda” by promoting captive development there.

But it has emerged that Vermont regulators issued licence No. 657 to Heinz-Noble Inc., a captive formed by HJ Heinz Co.
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A trawl of the Registrar of Companies in Bermuda showed this week that there were no companies incorporated in Bermuda with the name Heinz attached.

While Ms Kerry is probably more interested in running the Heinz family’s $1.6 billion philanthropic foundations than the company’s risk management or risk financing functions, the connection is still ironic given the senator’s apparent bias against captive insurers.

This is not the first time Kerry’s wife’s fortune has left him with egg on his face. Last month he was hauled over the coals for his anti-Bermuda stance – after it was discovered his wife’s trust made a killing on Ingersoll-Rand redomesticating to the Island.

Kerry has been loudly denouncing US companies moving offshore to save on their taxes calling them “Benedict Arnold” firms – after the notorious American traitor.
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Newsweek revealed that in 2002 the conversion and sale of up to a million dollars of stock in Ingersoll-Rand made between $100,000 and $200,000 after stock rose in price following the company’s move to Bermuda.