Prior to the 1990s, the Jamaican business community lived a split life: families in Florida, USA, with a commuting businessman. That model did not work—investment plunged, making the businesses uncompetitive.
By 1992, the Jamaican dollar was reeling, causing much concern about social and economic stability. Butch Stewart then stepped up with the shocking news that he would pump US$1 million a week into the official foreign exchange market at below prevailing rates to stabilise the dollar. A fellow businessman congratulated Stewart for “the new feeling of hope and positive outlook...now being experienced by all of us as Jamaicans”.