My Morning Paper – October 28, 2016 – Show Us the Money

“Roberts Tells Izmirlian: Show Us The Money” – The Tribune 27th October 2016

Excerpt from this article; “PLP Chairman Bradley Roberts yesterday said Sarkis Izmirlian must ‘show us the money’ if he is serious about purchasing the stalled $3.5 billion Baha Mar resort.

In a press statement, Mr. Roberts said if Mr. Izmirlian has an interest in purchasing the assets of Baha Mar and delivering a world class resort for the Bahamian people as he claims he should offer a serious proposal and plan instead of ‘finger-pointing, weeping and wailing.’

On Tuesday, Mr. Izmirlian criticized the transfer of Baha Mars’ assets to Perfect Luck Holdings Ltd, calling the sale to the special purpose vehicle created by the Export-Import bank of China (CEXIM) an ‘intricate fabrication’.

And nearly two weeks after making a ‘bona fide’ offer to buy Baha Mar, Mr. Izmirlian, CEO of BMD Holdings Ltd., said he found it ‘bizarre’ that he has received no response to the ‘superior proposal’.

In fact, in a letter, addressed to Liu Liange, vice-chairman and president of CEXIM, Mr. Izmirlian said not only has the bank not acknowledged receipt of the proposal, but ‘nor has anyone associated with either the bank, the receivers, or Perfect Luck,’ made contact with him.

bradly

Beside the fact that I would really like to know who ‘makes up’ Perfect Luck, I have to agree with Mr. Roberts; indeed less talk and more action, just wished that we could get this type of performance from our present government, who continues to talk, continues to promise but also continues to fall short on delivering; yes, Mr. Prime Minister show us some positive results for the country but I tend to digress.

Indeed, Mr. Izmirlian should show us the money if he is serious; but by the same token the Progressive Liberal Party needs to show us the results from their ‘successful governance’ over the past four and a half years.

Oddly enough, while the Chairman of the Progressive Liberal Party is asking Mr. Izmirlian to ‘show us the money’, another member of the PLP is telling Mr. Izmirlian that he is already too late with ‘the money’; maybe this is why Mr. Izmirlian is now claiming that he is being ignored after making a ‘superior proposal’ not only by the bank but by everyone else associated with either the bank, the receivers or Perfect Luck, so no one is willing to see his ‘money’ that he has been asked to show?

While he sits with the money that he has been asked to show but that no one seems interested in, the government now boasts of entering into negotiations with Chow Tai Fook Enterprises Limited (CTFE) of Hong Kong, in connection with ownership of what Bradley Roberts referred to as ‘the former Baha Mar resort’, in a recent press statement; I am guessing that they have shown ‘someone some money’.

The Progressive Liberal Party fails for one reason, it is their nature.

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My Morning Paper – October 26, 2016 – An Amazing and Impressive Government

I would fervently defend our present government against anyone that claims not to be amazed and/or impressed by them on a daily basis, because this is one thing that this government has not been short on since coming into power in May 2012; unfortunately they have amazed and impressed many with utter incompetence, ineptitude and utter nonsense.  No one knew that it could ever be possible for anyone to get this bad but they have amazed and impressed us by showing us that they are fully capable.

tiefs

“Roberts: Minnis is a big joke” – The Nassau Guardian

Excerpt from this article; “Opposition Leader Dr. Hubert Minnis is ‘one big joke and cannot be taken seriously’, Progressive Liberal Party (PLP) Chairman Bradley Roberts said yesterday.

He was referring to Minnis’ demand for full disclosure on the reported sale of Baha Mar’s assets after Prime Minister Perry Christie admitted that Cabinet did not know the identities of the principles of Perfect Luck Holding Ltd., the new Baha Mar owner.”

It was my understanding that ‘the deal’ was sealed [by the courts] until ‘the deal ‘was finalized; the Prime Minister announcement in Cabinet with suggest that it had been; “The Office of the Prime Minister said in a press release last week that the sale of the assets to Perfect Luck ‘followed a lengthy marketing process and the resulting sale of the assets to Perfect Luck were overseen and approved by the Supreme Court.”, so why do I now have Bradley Roberts saying, “Dr. Minnis and Mr. Peter Turnquest are….fully aware that the Supreme Court sealed the Baha Mar liquidation conclusion and will in due course unseal the same…….”, what now seems to mean not until the government feels that it is time, “………, and all details will be disclosed for the benefit of the public,”.

I reflect on when the Prime Minister said; “PM: Sealing of deals is quite normal – Perry Christie says it’s unrealistic to negotiate Baha Mar deal in media” – The Nassau Guardian (September 01, 2016)

Excerpt from this article; “Prime Minister Perry Christie said yesterday the Export-Import bank of China (CEXIM) made the application to the Supreme Court to seal the deal it signed with the government to get Baha Mar completed and opened, to allow the bank to finalize ‘sensitive negotiations’ for a new buyer.”

Hasn’t a ‘deal’ already been finalized to have Baha mar completed and opened?

Hasn’t the bank already finalized ‘sensitive negotiations’ for and with a new buyer?

The question now is exactly who is this ‘new buyer’?

But since Mr. Roberts opened this issue with a joke, I will end it with a joke; “Roberts said that the Free National Movement (FNM) is a stranger to transparency…” This from a man that chairs a party that has cut a ‘secret deal’ with a ‘secret entity’ and now refuses to inform the people on whose behalf they act, the details of said deal, not even seeming to know who they ‘cut the deal’ with or just not wanting the people of the Bahamas to know but then goes on to reference ‘tranparency’ and also refer to others as ‘jokes’; really?

The Progressive Liberal Party fails for one reason, it is their nature.

END

My Morning Paper – October 25, 2016 -Judge Not……

“PM: Gibson to be judged by performance” – The Tribune

Excerpt from this article; “Addressing criticisms of his appointment of Minister of Labour Shane Gibson as national coordinator for the hurricane restoration process, Prime Minister Perry Christie said yesterday Gibson will be accountable to Cabinet and the House of Assembly, and ultimately will be ‘judged on the basis of what he does’.

First, before I proceed, I must put this into context by adding the criticism by Dr. Minnis;

Excerpt from this article, “Opposition Leader, Dr. Hubert Minnis, raised questions about Christie’s decision and Gibson’s ability to lead the restoration efforts following Hurricane Matthew without political bias.

But Gibson has said he is dedicated to the job and will not ‘rest until everyone gets the help they need in a timely fashion, regardless of political preference.”

I read this story and smiled to myself, because while Dr. Hubert Minnis seems to be addressing the issue of the lack of bi-partisan collaboration in this national effort, the Prime Minister seems to have put Shane Gibson’s neck on the line, in terms of the slow going hurricane restoration process, actually minister Gibson seems to have offered his neck.

perry-and-shane

It would seem odd that at the very same time while they would proclaim that a person should be judged by their performance on a job; over the past four plus years Mr. Gibson, along with the Prime Minster and the rest of the Progressive Liberal Party administration have spent a lot of their time denying their failures as a government based on their performance; it is simply an amazing thought.

Will the Prime Minister now be satisfied with the fact that his administration will be judged based on their performance; and to date most are not judging them to kindly; or will he again take the attitude which he took after the failed Gaming and the failed  Gender Equality referenda, and say that it is not reflection on his administration..

Will Minister Gibson, if he were to fall short, then be seen as a failure unto himself, so that it does not reflect poorly on the entire Christie administration?

The Progressive Liberal Party fails for one reason, it is their nature.

END

My Morning Paper – October 24, 2016 – Urging PLP’s to Resist Christie

As Alfred Sears continues to mount what can only be described as a very ‘soft attack’ to challenge Mr. Christie at the next Progressive Liberal Party’s convention for the leadership position, all of his efforts may be for naught, as Prime Minister Perry Christie may have found the ‘perfect reason’; forgot all of those that refuse to endorse him in the party, to remain as leader of the Progressive Liberal Party (PLP).  So if you did not buy ‘that instability would arise in the party if he was no longer leader’, now you have a ‘legitimate reason in the wake of Hurricane Mathew, that touched each of the islands which this government has not responded to in an appropriate manner, to aid him in postponing and possibly even cancelling the convention.

perry-beleives

“PLP may discuss delay in holding convention” – The Tribune

Excerpt from this article; “When the Progressive Liberal Party’s Candidates Committee meets tonight, it is possible that high-ranking PLP’s will hear arguments regarding the postponement of the organization’s national convention, according to the PLP Bradley Roberts.

However, only the party’s National General Council, Mr. Roberts said is able to make the decision as to whether the political event should be rescheduled.  He says the council meets on Thursday.

The five-day convention is scheduled for the last weekend in November at the Melia Nassau Beach Resort.

The Party has not held a convention since 2009”

So, the Progressive Liberal Party (PLP) has not held a national convention in over seven years; in clear violation of its own party’s constitution, even when conditions were ‘good’, why would it be expected to have one now in the wake of Hurricane Mathew, when even by their own estimations the country should be back to normal soon, well at least by the end of next month.

There are those that now argue that a convention is not necessary due to the fact that they have the leadership they want but then conventions covers so much more and does everyone in the party have the leadership that they want?

Shouldn’t here be a democratic process to make sure that everyone is pleased with the present leadership?

“According to the PLP constitution it [a convention] does four things.  A convention enables then to review the performance of the organization over the past year and in this case it will the performance of seven years.  It reviews the platform of the organization to see whether it should be amended.  It gives the organization the chance to amend the constitution and to make whatever necessary adjustments with governing structure.  It also enables the election of officers of the party, giving the party the opportunity for the refreshment of the leadership” All of this has not happened openly within the PLP in over seven years.”

While most senior members of the Progressive Liberal Party are asking for a postponement of the party’s convention for ‘sensitivity’ reasons; bearing in mind that the general election is next year, the only person who is opposing Perry Christie for leadership of the party seems to have a more ‘progressive’ idea.

“But former Attorney General Alfred Sears, who is the only person to announce his intention to challenge Prime Minister Perry Christie for leadership of the party’s top post, said he ‘totally disagrees’ with rescheduling the convention.

He said the only change the party should consider is moving the venue to Grand Bahama so that all money spent to pull of the event would be injected into that islands economy to assist with recovery and rebuilding efforts”  This I find to a wonderful and progressive suggestion but it has already been ‘attacked’; “However, former PLP MP Philip Galanis said given the devastation in the country, especially in Grand Bahama, it would be insensitive to continue as planned.”; did this man say ‘insensitive’?  The notion of the perception of this government caring about those affected by the hurricane and not wanting to seem ‘insensitive’ is utter nonsense, has the Prime Minister visited this constituency, which he openly admitted to neglecting since the storm to date, surely he must have.

It is my opinion, it because of the type of thinking that Mr. Galanis displays here and others like him why the Progressive Liberal Party remains in the 1950’s and is taking the country back there and why that party needs a convention ASAPOS!!  (As soon as possible or sooner!!)

The Progressive Liberal Party fails for one reason, it is their nature.

END

My Morning Paper – October 23, 2016 – This Past Week in Politics

During this past week Prime Minister Perry Christie has made many nonsensical gaffs, some bone fide mental ‘farts’ excepted of him but then there were those that seemed to be ‘designed’ to distract from the comments made by Dr. Hubert Minnis, Leader of the Opposition Free National Movement (FNM), which highlighted the short comings of the government in its preparedness of the onslaught of Hurricane Mathew, especially after the ‘teachable moments’ of Hurricane Joaquin just one year before. A storm that many islands are going to take some time to recover from as they struggle to get essential services back up and running; even parts of the capital, New Providence especially areas such as Farm Road and Centerville, represented by the Rt. Hon. Perry G. Christie, Prime Minister face such challenges, a fact that the Prime Minister claimed not to be aware of up until a few days ago.

perry-minnis

 

“PM urges FNM’s to resist Minnis” – The Tribune; October 20 2016

Excerpt from this article; “Prime Minister Perry Christie yesterday sent strong message to side lined Free National Movement MP’s Richard Lightbourn and Hubert Chipman to ‘resist all of your might’ any attempt by the party’s leadership to end their careers.

Mr. Christie told the MP’s, both of whom have not been offered a re-nomination, that no one person should be able to dictate whether their political careers were finished, adding that the decision should come from the electorate.

He accused Opposition Leader Dr. Hubert Minnis of keeping the pair in the dark on nonpartisan hurricane relief efforts organized for their constituencies. A move he attributed to Dr. Minnis’ political agenda during his closing remarks in the House of Assembly yesterday.

Mr. Chipman represents St. Anne’s and Mr. Lightbourn represents Montagu.

Mr. Christie said ‘The intention was to put you in a position where your constituents would have seen you delivering of supplies, information, doing all the things you should do.  The intention was to strengthen the delivery services in the country.

‘I directed NEMA, based on personal experience, that every member of the Parliament should have a new team assembled, a multifaceted, [a] multidisciplinary team assembled, and to call the leader of the Opposition to advise.

Say ‘strong message’; I say a message of a coward and a failure being used to simply distract the electorate from his failings as out lined in Dr. Hubert Minnis’ criticism of the Prime Minister and his government in the aftermath of Hurricane Mathew.

“I thought the government dropped the ball in dealing with the storm.

‘The precautionary methods were not taken’

‘The government knew the storm was coming’

‘How can you afterwards be asking for trucks, volunteers etc.?  All of that should have been done in advance.’

‘You knew the storm was coming, you knew the strength of the storm; you knew the potential damage; you knew what was going to happen to the south. And therefore they should have already had trucks, chainsaws, garbage bins, dumpsters all lined up to deal with [the aftermath] appropriately.”

Can the government really be this small-minded and petty after having their obvious short comings pointed out to them?

Whatever happened to ‘teachable moments’?

With this being said, the Prime Minister’s statements on the affairs of the Free National Movement (FNM) are asinine at best; to put it gently, in light of what he said and what he thinks he is actually addressing.

There is some confusion in the Prime Minister’s ‘strong message’, and I am not at all surprised.  First he suggests the “PM’s should not allow the party leadership to end their career’ but then goes on to say that not ‘one person’ should be able to dictate whether their political careers were finished, I now understand fully why the Prime Minister feels he is the only person that can run  his party; keep all others at bay!  First of all, the leadership of the Free National Movement is not one person, but it would seem that this is the way of the Progressive Liberal Party; the question then becomes, who is actually leading this party; in control of it, because it is obvious that is not its elected leader, so why should he even fathom the thought of meddling in the affairs of another political organization when his ‘home’ is in disarray and there are many matters for him to attend to and by the way the Sandals matter is back.

The Prime Minister accused Dr. Minnis of keeping these two PM’s in ‘the dark’; only these two were kept in the dark?  This allegation within itself is nonsensical, stupid and beyond amazing but then when you as Prime Minister and a member of parliament, been able to keep your very own constituency in the dark; literally and figuratively, then we come to understand the mindset of such gross deception.

The Prime Minister has suggested to these two members of parliament, whom have served with distinction for quite some time, contest democracy, as he openly does; using it at this convenience and then there are those that buy into such a distorted sense of reality, this only adds to the rapid decline and decay of democracy.

And just to go on record, I strongly recommend that the Progressive Liberal Party rejects Perry Christie as leader of the party at your next convention if it ever comes about, as he mean no good for that party nor the country at large.

The Progressive Liberal Party fails for one reason, it is their nature.

END

My Morning Paper – October 20, 2016 – The Prime Minister Thinks Out Loud

I know right now that Prime Minister Perry Christie must be thinking to himself, “You can’t even think out loud in this country anymore!”’ the short answer is that it all depends on what you are thinking out loud about.

“PM: No new hurricane tax” – The Nassau Guardian

Excerpt from this article; “There will be no new tax to defray the cost of the damage associated with Hurricane Matthew, which decimated the northwest islands earlier this month, Prime Minister Perry Christie said yesterday.

Christie statements to reporters on Monday that  when Cabinet next met it might consider introducing a special tax to help finance the restoration efforts associated with Matthew, triggered furious backlash on social media.

Christie appeared to take exception to the media reporting the statement, which he made during ‘dynamic conversation’ while visiting impacted residents on Marshall Road.

‘As prime minister and minister of finance, I sought to go to every area several times,’ said Christie, who admitted he had not visited his constituency of Centerville since the passage of the storm, despite acknowledging that many of the residents were still without power and water.”

 

thinking-prime-minister-perry-christie

“Christie appeared to take exception to the media reporting the statement…” really?

So he said it to whom and for what reason? 

Just thinking out loud?

For the Prime Minister to ‘take exception’ to reporters reporting his statement is far beyond me and cleanly beyond reason, logic and commonsense.

Who were they and what do they [reporters] do?  I think it is time for the Prime Minister to step aside as he has lost track of the ‘game’.

He [the Prime Minister] then goes on to say, “The press was with me and I was talking to them about their country and it was a dynamic conversation’, but yet he takes exception to the story being reported; Stephen King could not make this type of nonsense up.

Surely the man is mad.

But the real reason as to why he cannot be taken seriously, beside the fact that he openly admits to abandoning his constituents is laughable; “Taxation is not imposed by the prime minister or minister of finance standing up on Marshall Road and saying we are going to impose a tax.”; of not course Mr. Prime Minister but I am willing to bet my lucky drawers that if this was not reported and you did not get the ‘backlash’ that you did, it most likely would have been on this week’s agenda in the House of Assembly and it probably still was.

Surely, he must have been thinking out loud.

The Progressive Liberal Party fails for one reason, it is their nature.

END

My Morning Paper – October 19, 2016 – Tax Consideration

From ‘Day One’ of the Progressive Liberal Party’s (PLP) returning to office in May of 2012, the very first thing that they did, even as they complained about the ‘dire’ financial straits that the former Free National Movement (FNM) government had left the economy of the country in, was to increase the size of government and ever since the government has been a burden on the backs of the people, whom they claimed to represent and believe in; as they continually attempt to tax the Bahamian people to fulfill the unrealistic goals (promises) they had given on the campaign trail.

Tax Stress

“Govt. Consider Hurricane Tax” – The Tribune

Excerpt from this article; “When it meets today, Cabinet may consider introducing and implementing a special tax to help finance Hurricane Matthew repair and recovery efforts, Prime Minister Christie said yesterday.

If implemented, such a tax may be imposed in such a way that has ‘minimal impact on people,’ he added.

His statement came as he and other government officials toured areas in New Providence that we hard hit by the storm, many of which remain without power and will continue to do so for some time because of the floods they suffered.

Mr. Christie said: ‘We have to give serious consideration to a move effective way of financing the loss that the country has experienced because we’re also paying for Hurricane Joaquin and it may well be that we have to give serious consideration to a selective approach to raising money by taxing some item that would be of minimal impact on people.  But it’s a matter we have to look at because it’s an enormous challenge to the country.  We’ve been faced with downgrading.  This is not an easy situation.  We thought the way was clear with Baha Mar.  But we have Hurricane Matthew.

Mr. Christie previously talked about the government’s intention to create a $150 million Hurricane Reconstruction Bond that would assist people, as well as small and middle sized businesses impacted by the hurricane and to help accelerate reconstruction efforts.”

This goes out to both governments; we live in a hurricane zone and it is being indicated that we do not have a disaster relief fund?

Surely, we must.

Bahamas Financial Services Board

Industry News

Disaster Relief and Recovery Fund activated

Thursday, September 9th, 2004

Excerpt from this article; “In wake of Hurricane Francis, the Ministry of Finance announced yesterday that the government of the Bahamas in conjunction with the Royal Bank of Canada has reactivated its Disaster Relief Fund.  Sen. the Hon. James Smith the Minister of State for Finance and Mr. Ross McDonald, Senior Vice President, Royal Bank Bahamas & Caribbean, are co-chairs of this initiative.

The latest release from the Bahamas Ministry of Tourism indicates that with the exception of Grand Bahama Island, most islands in the 700 island nation sustained minimal property damage from Hurricane Francis.  Nassau International Airport is fully operational and cruise lines have returned to normal services into New Providence.

The Disaster Relief fund is used to assist with emergency relief efforts following disasters,…….”

So there is a system in place but it has either been deactivated or just not properly managed, because I am sure if I were to ask persons about it most would not know that it even existed at one point in time; this to me is pure madness.

The government plea at this time, comes when they will rely on us being our ‘brother’s keeper’; which is to say, no one should be against a tax to help his ‘brother’ but if you are yourself have been brought to a point, though increasing taxation and big government, wherein you are barely keeping you head above water; how will a new tax affect your already strained way of life and how can I keep my ‘brother’ if I to need keeping?

And for your information, Mr. Prime Minister, there is no way to impose such a tax in such a way that has ‘minimal impact’ on people, as you and your government still try to figure out how to impose a tax to fund National Health Insurance, because the persons most adversely affected are those in the middle class; the ones that actually drive the economy.

The Progressive Liberal Party fails for one reason, it is their nature.

END

My Morning Paper – October 18, 2016 – The Curious Sales of Baha Mar

“Baha Mar to be sold twice as court process ends” – The Tribune 3rd October 2016

Excerpt from this article; “Baha Mar’s secured creditors has acquired the project from the receivers for a sum ‘substantially higher’ than that offered by the top bidder, in order to facilitate its construction completion.

The pathway to the $3.5 billion development’s completion and eventual opening is disclosed by Supreme Court Justice Ian Winder, who reveals that Baha Mar will be sold ‘twice’.

The first sale is from the Deloitte & Touché receivers to a special purpose vehicle (SPV) owned by the China Export-Import Bank, the project’s $2.45 billion secured creditor.

This deal, which values Baha Mar as an ‘as is basis’, meaning that the present value of its incomplete real estate assets, will move the Cable Beach resort development out of receivership.

Justice Winder, in his September 27, 2016 ruling said China Export-Import Bank was only willing to invest ‘hundreds of millions of dollars’ in completing Baha Mar if the project was removed from receivership.

Once Baha Mar has been completed, under the ownership of the banks SVP, the ‘second’ or final sale will occur.

This will see a controlling interest in the SPV being sold by China Export-Import Bank to the intended purchaser.

Justice Winder’s ruling does not confirm the identity of Baha Mar’s prospective buyer, but reveals that its purchase price ‘remained lower’ than that offered by the China Export-Import Bank-controlled SPV to the creditors.

Other revelations obtained in Justice Winder’s ruling included:

  • The Baha Mar buyer is a group who emerged ‘outside of the bidding process’ set up by Deloitte and Touché for the projects sale.

Baha Mar

It would appear that while Hurricane Mathew was affecting our lives and changing some persons way of life forever; a ‘perfect storm’ has been forming within the Office of the Prime Minister (OPM); who are these buyers that have been allowed to circumvent the rules of the bidding process and why were they allowed to bring the property out of receivership?

“Buyer revealed for Baha Mar – Perfect Luck new Baha Mar Owner” – The Nassau Guardian; 18th October 2016

Excerpt from this article; “The Office of the Prime Minister confirmed that the new owner of Baha Mar is Perfect Luck Holdings Ltd.

However, the identities of the owners of that company remain shrouded in secrecy.

The Christie administration has up to now kept mum about the status of Perfect Luck as anything other than the purchaser of the debt the Bankrupt Baha Mar. Ltd. Owed to employees and contractors.  However, the office of the Prime Minister (OPM) said in a statement yesterday, ‘The assets of Baha Mar have been acquired by Perfect Luck Holdings Limited (“Perfect Luck”).

‘The sale followed a lengthy marketing process by the receivers, and that process and the resulting sale of the assets to Perfect Luck were overseen and approved by the Bahamas Supreme Court.”

Initial investigations by Guardian Business revealed only a company named ‘Perfect Luck Holding Limited’ was registered in Hong Kong in March 29th, 2014 with cooperate number 2072340.  The company was marked ‘live’ in Hong Kong cooperate registries up to July, 2016.”

So Baha Mar was brought out of receivership and sold to the China Export-Import Bank for a sum ‘substantially higher’ than that offered by the top bidder but Perfect Luck Holdings Limited was not the top bidder because they emerged outside of the bidding process set up by the receivers, Deloitte  and Touché?  Something does not seem right here as it seems CEXIM put up the money to create “Perfect Luck Company” and due to the fact that the original developer, Sarkis Izmirlian, has put forth a ‘mind blowing deal’ to regain ownership of the Baha Mar property only to be told that he is ‘too late” to the party’.

perry-and-izmirlian

“Sarkis submits a last ditch Baha Mar bid.” – The Tribune

Excerpt from this article; “Sarkis Izmirlian yesterday made a last ditch intervention to regain ownership of the $3.5 billion Baha Mar project, offering to acquire the property for a price ‘in excess’ of what both its secured creditors and ultimate purchaser will pay.

Baha Mar’s original developer, unveiling an October 10 letter he sent to the China Export-Import bank, has submitted another purchase offer that was branded as ‘superior economically’ to all rivals,’ and in the best interest of the Bahamas.’

The letter, which was copied to Prime Minister Perry Christie, also took a swipe at the ‘double standards’ with which Mr. Izmirlian alleges he has been treated.

Couched in diplomatic language, the document said it was ‘very surprising’ that the proposed Baha Mar purchaser had been discovered outside of the formal sales process operated by the project’s receivers, the Deloitte and Touché accounting firm.

Mr. Izmirlian, and his BMD Holdings vehicle, argued that they were informed ‘multiple’ time that their offers would only be entertained if submitter through the receivers process, yet they – and the China Export-Import Bank, as their employers – appeared to have performed a complete ‘u-turn’ on this condition.” And I am left to ask is if this ‘U-turn’ even legal?

Then there is the question of Perfect Luck having purchased the debt of the bankrupted Baha Mar Ltd owed to its employees and contractors; shouldn’t the ‘gift’ by the Chinese Import-Export Bank have compensated for this, unless of course there were some unknown conditions attached to the ‘gift’ as a part of the ‘secret deal’ that made the ‘gift’ more of a loan.  The details of the ‘deal’ have never been revealed to the people, leaving them in the dark as to the concessions and conditions that have been attached to said ‘secret deal’.

Indeed, the sale of Baha Mar, is a very curious one, as the Chinese Export-Import bank is only willing to invest in the required funds to complete the resort on the condition that they have full control of the property which already has been sold to Perfect Luck Holdings Limited.

Curious indeed.

END

My Morning Paper – October 13, 2016 – Feeling Slighted

I think I will take it upon myself to call the Hon. Dr. Hubert Minnis and ask him to apologize to the Rt. Hon. Perry Christie, Prime Minister because apparently Dr. Minnis hurt the feelings of the prime minister and he is at the point of picking up his marbles and crying his way home.

perry1

“PM say Minnis’ criticisms idiotic – Christie disappointed in opposition leader” – The Nassau Guardian.

Excerpt from this article; “Prime Minister Perry Christie said yesterday criticisms made by Opposition Leader Dr. Hubert Minnis about the government’s response to Hurricane Mathew were idiotic.

While touring Lowe Sound, Andros, with Dominican Prime Minister Roosevelt Skerrit, Christie hit back at Minnis, who claimed the government dropped the ball on dealing with the storm.

I am absolutely amazed at that,” said Christie when asked about Minnis’ comments.

“……It is an idiotic thing for him to say because the context of him coming with us in the way I went with (former Prime Minister) Hubert Ingraham during hurricanes, was to put this above partisan politics for us to acknowledge that if he had a recommendation to make we were open to hear it and to determine whether or not it is something we would implement.”

So far I fail to see the politics but then I have been accused of being blind, so suffer it to be so, but then maybe we can take a look at what Dr. Minnis actually said and see how it made it political; let’s deal with it in its ‘context’.

Excerpt from same article; “I was not impressed,” Minnis said.

‘I thought the government dropped the ball in dealing with the storm.’

‘The precautionary methods were not taken.’

‘The government knew the storm was coming.’

‘How can you afterwards be asking for trucks and volunteers, etc?’

“All of that should have been done in advance.’

‘You know the storm was coming, you knew the potential damage, you knew what was going to happen to the South, and therefore they should have had already, trucks, chainsaws, garbage bins, dumpsters all lined up to deal with [the aftermath] appropriately.” 

All of what Dr. Minnis suggests seems reasonable and logical to me except for the simple fact that he just may have shown that the persons responsible for the readiness for the aftermath of Hurricane Mathew were ill-prepared, incompetent, inept and maybe even lazy but why is it political to criticize a government for being ill-prepared for something that they know will happen?  Is it that if you do not agree with the prime minister, then you had better keep it to yourself?

Mr. Christie wants to know what is it that Dr Minnis has to offer to the entire discourse; well it is basically the same criticism that almost each and every Bahamian has of Prime Minister Perry Christie, which is he [the prime minister] is not proactive and reactive and by the time he reacts it is already to late.  We have seen too many situations get totally out of control while the Prime Minister seems to gazes into the abyss of his mind, seemingly in hopes that all will just go away but the problem is that real life does not work this way.

So, now since the prime minister’s feeling’s have been hurt by it being suggested that he is yet ‘late again’; something that he really should be accustomed to by this point in his political career and his life in general, he reacts to these suggestions by lashing out and labeling others persons statements as ‘idiotic’ and expressing his ‘disappointment’ in these people; while the majority of the country expresses grave and utter disappointment in him as a prime minister.

The Progressive Liberal Party fails for one reason, it is within their nature.

END

My Morning Paper – October 12, 2016 – As Darkness Fell

Fresh on the heels of explaining why Junkanoo-Carnival again exceeded its budget, having the festivals commissioner then go on to explain that the whole Junkanoo-Carnival exercise is not an exercise in profitability, only after the government had already ‘invested’ over $21million over the past two years in the exercise; the government will now have to explain to the people of the Bahamas why is it that they turned over control of Bahamas Power and Light (BPL), formerly [The] Bahamas Electrical Cooperation (BEC) from a Bahamian management group to a foreign one that seems to have little to no experience in hurricane [disaster] preparedness, as we still await their business plan on how they intend to move the cooperation forward, they by improving it.

candle

“Power Failure: BPL blasted for worst hurricane recovery ever” – The Tribune

Excerpt from this article; “Bahamas Electrical Workers Union President Paul Maynard yesterday blasted the ‘coordinators’ at Bahamas Power and Light for being ‘ineffective’ and organizing the ‘worst hurricane recovery effort’ he has ever seen.

In an interview with the Tribune, Mr. Maynard said if certain BPL officials had ‘listened to advice from the union’ more areas of New Providence would have been restored and BPL’s restoration timeline would be significantly shorter.

In a statement on Monday, BPL said it could not give an exact time for full restoration, but the company expects most customers to be back on supply by the end of the week.  However, Mr. Maynard said ‘two to three weeks’ is more realistic.”

We all have, well most of us, experienced the aftermath of a hurricane, and wherein there is a certain amount of time taken to restore essential services, such as electricity, there is an expectation that over time with the advancement in technology for services to improve but in this case there seems to have been no improvement on the system left in place by the former executives of BPL (formerly BEC) but rather more of a regression of sorts, as the lines at the local ice suppliers began to look like the lines that the government would hope and pray for at Junkanoo-Carnival; all of this time as the food in our refrigerators decayed.

The question is why did it take so long – actually why is it taking so long?  The power went out I my area at 9.30 pm on Wednesday 5th October and was restored at 11.30 pm 11th October, a mere 24 hours later than I had predicted that it would be restored but still there are there are some people in my neighborhood without power, some on the same street as myself.  I actually cannot go into the office today because the power in that area has not been fully restored; when BPL was fully BEC and managed by Bahamians, this was unheard of and the question again rises of what is the plan of this new company that the Progressive Liberal Party (PLP) has engaged to ‘manage BEC now BPL?  Did they ever have a plan for events such as these?

“Miller: New Providence repairs being done with skeleton crew” – The Tribune

Excerpt from this article; “Tall Pines MP Leslie Miller yesterday criticized Bahamas Power and Light Ltd saying the electricity provider has failed to properly coordinate efforts in a timely manner to restore the supply to residents in New Providence, pointing to the use of a ‘skeleton crew’ to the wide range of needed repairs to the capital.

Mr. Miller said BPL should have been able to re-connect customers in about two to three days after Hurricanes Mathew’s passing.  However some residents in New Providence have been left without power for a week, beginning when Mathew first touched down on the island last Wednesday.

He attributed the lengthy and ‘unacceptable’ time period to BPL’s decision to veer from the model to remedy issues caused by hurricanes, which was adopted by the Bahamas Electricity Cooperation (BEC) before it tr5ansitioned to BPL.

This, the actions of BPL, I see as not being in the best interest of the Bahamas and the Bahamian people and it is obvious why what we are seeing now that BPL’s ‘plan’ simply does not work, as it is totally ineffective.

I wonder if the Prime Minister will speak up about this issue, instead of the under the breath grumbling that he has done to date.

The Progressive Liberal Party fails for one reason, it is their nature.

END