Ice bucket challenge: business leaders called out
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As of Saturday, December 23, In a statement, Dr Minnis said he hoped this step would lead to the full renovation and opening of the Our Lucayan strip in early I am therefore pleased to inform Grand Bahamians and the nation that today Friday my office has been informed that the owners of the hotel strip have signed a letter of intent LOI with Paul Wynn. This is a very important formal step toward the completion of the sale. We expect this process to be completed within the next month to two months.
The Grand Lucayan closed last October after Hurricane Matthew and deprived Grand Bahama of 59 per cent of its room inventory and at least 1, jobs. Dr Minnis, in a national address earlier this year, said renovations at the Grand Lucayan would likely start in August - a deadline that is now long past.
The Minnis administration had also previously announced it would part-nationalise the hotel by taking a temporary equity stake in its acquisition, in an effort to revive Grand Bahama. While talks for this process took place, it did not materialise. Comrade Freeporters may have a difficult time placing their confidence in a prime minister and his Imperial red shirts cabinet who while they keeps identifying Freport's economic woes - keep moving the goal posts.
The man and KP shows up every couple weeks in Freeport to announce some recovery scheme of which a light at the end of the tunnel is never really visible because before any deal can close the red shirts cabinet finds a way obstructs the line of sight. No one seems to remember that the Freeport econony has been in the toilet for a number of years but tiny minded people think that the problem can be rectified overnight.
The former administration damn near destroyed the ENTIRE Bahamian economy and it will take some time to undo hong kong bitcoin exchange and martha stewart multiple 'F' ups before a corrective action can take place. It's only fair to give credit where credit is due. All three former prime ministers sold out to UBP special interest groups, managed massive systemic corruption for personal gain of friends, family, and lovers, and should be charged with treason!
There are multimillionaires in this country and manywith a wealth of business experience. Time for Bahamians to get their fair share of the tourism pie and keep the wealth at home.
I would not take on a hotel in the Bahamas if you gave it to me for free. And neither would anyone else who actually earnt their money.
The Bahamian multi millionaires like snake and brent know better than to invest in hotels where they have deal with corrupt unions very low productivity, mash mout attitudes etc God know I would not. Congratulations to the present admin. Dealing with chinese is not easy. John - whereas I totally agree that Bahamians must become owners in our economy, hong kong bitcoin exchange and martha stewart LOI signing with the Wynn group is a hong kong bitcoin exchange and martha stewart step in the right direction mainly due to the fact that they have 40 years experience, international clout providing the ability to "jump-start" this facility.
Freeport needs an immediate infusion of experienced investors with deep pockets and the wherewithal to succeed. However, again, the Bahamas is far behind the eight ball and need not waste time reinventing the wheel, initially Bahamian investors would be better off partnering with experienced companies with similar operations.
Let the major international players do their thing, while local entrepreneurs benefit from, and assist with, the smaller infrastructure by providing ancillary amenities. Government should play no part, except for providing reliable utilities and roads.
In other words let Bahamians continue to do slave labor. Let the international players carry the whole cow while Bahamians fight over the head and the tail. Bahamians can even purchase the property and get a franchise to brand and operate the hotel they will own the property and still get profits from the operations.
Actually in thinking American's don't own most resorts here. It's foreigners and convenience stores are also foreigners. To make matters worse we would have to pay taxes on the money made if we owned it. Foreigners don't have to for the first five years, then they sell it to a relative and they don't pay taxes either. Some of our laws make no sense at all. More positive note, Merry Christmas to all! May you have a wonderful Christmas! The problem is they are reluctant to do so because i hong kong bitcoin exchange and martha stewart of the historical track record of hotels in the Bahamas.
If you look back in time every major hotel got into some kind of financial problem and could not meet its financial obligations resulting in either bankruptcy, selling out or closing down and i think its because we have to simply redefine the hotel models we allow to be built in this country.
Bahamian institutions such as Credit unions, Pension funds and insurance companies have the financial capacity to purchase a major hotel but the uncertainty of the steady and reliable returns from such and investment is a major hindrance to venturing in that area especially when you factor in the many unrealistic demands of the archaic unions in this day and time.
Also these type of institutions operate on long term financial projections which would be heavely impacted during slow periods thus making hotel investments highly unattractive. Someday Bahamians will own major hotels but it will require a major shift in our way of thinking.
We must adopt a long term view of thinking when it comes to our finances and begin to think like the chinese who have a mind set of thinking in decades.
I call it generational thinking. As i write the chinese, Amenicans, Jamaicans and a canadian pension fund own all of the major hotels in this country. We must get rid of the black crab syndrome, be willing to take financial risks and pool our resources together. The charge in that status quo will be made easier the more Bahamians are educated aboard, get experience aboard, and be willing to come home. Hope fully some of the new policies of the present administration will make this reality easier.
If the Jamaican owners of Breezes and Sandals can own major hotels here Bahamians certainly can. Proof of the pudding only takes a quick hong kong bitcoin exchange and martha stewart at the Atlantis water park, adult price: Take a moment and do the math. What hotel can produce these numbers? In comparison, the Freeport property requires purchasing, refurbishing, franchise fees, marketing, staffing, maintenance, union headaches, cost etc'.
Why not invest in lucrative low hanging fruit and graduate to more complex hard to reach stuff after setting up a few cash cows to generate funds to finance hotel ownership? How do I know this? Comrades, what fantasy economic growth expectations my fellow bloggers promote whilst ignoring that 85 cents out every dollar tourists spend in Freeport, or elsewhere in the Bahamaland - will leave the country. The entire economic system as we know it has long been broken. As for Freeport, even Wallace Groves and Sir Stafford never could bring their much promised 'magic city prosperity' to Freeport.
What now makes you think Minnis is suddenly the one with the Midas Magic Touch? See so what started out as a black vs white struggling has now evolved into the workers vs the elite.
Meaning that a large portion of the white race is now being excluded from enjoying the Economic pie. Not only in America but globally. So the financial traps that were set hong kong bitcoin exchange and martha stewart keep black people poor are now being rebaited to keep hong kong bitcoin exchange and martha stewart classes of white folk and other ethnicities excluded.
Then what is bitcoin? Basically an imaginary currency that was created on the internet and is now trading higher than the stocks of some of the worlds most successful companies. But what exactly do you own when you own bitcoins? In addition it is seeking to own all the companies that are ancillary to its core business. This includes courier companies, credit cards, Air cargo companies. And the effect is so great not only on American economy but gl so much so economists are calling it the Amazon effect.
A few years ago regulators would not allow a company to get this big and so powerful so soon. They made the Bell Phone Company split up and divide itself into smaller companies. Bahamian can own and manage hotels. It's just that we are too smart to sink money into a total hole with no hope of ever seeing it again.
As an individual, I would prefer a theme park or other supportive ancillary resort investment with less risk and a higher, much faster ROI. Governments don't want this to happen but regulation has started on bitcoin in hong Kong, Japan next year a few exchanges in the Hong kong bitcoin exchange and martha stewart hasve already announced their Start hong kong bitcoin exchange and martha stewart for acceptance and regulation and hong kong bitcoin exchange and martha stewart.
Major hedge funds world wide have all ready started placing bitcoins in their portfolio. At present crypto ATM machine's are gaining popularity in the far east and retailers have began to accept the currency for purchases,so its only a mater of time before the tide sweeps to this part of the world.
I hope it doesn't in our lifetime. I guess I don't totally understand the bitcoin, but I'm very skeptical of it. It works kind of like the stock market, from what I understand. Too much money is lost in a split second in stocks. Merry Christmas my friends! Lisa I should change my sign in, Ashley is my daughter. Have you ever heard of a man called Ncola Tesla I am attaching his quote or you can google Nicola Tesla predictions and read about it.
So Bitcoin is already a reality and the guy who invented it will be proven right someday because our grand kide will not have to use Cash Comrades, you've got to know who the Bitcoin fooled the most in our country Graham Rutherford the most compulsive serial caller into every local talk show. Him has be broke if he followed his own Bitcoin buy now and buy lots advice he often volunteered to give to previous and current governments the Bahamaland? Comrade Graham the smartest man's in hong kong bitcoin exchange and martha stewart room - but only if Dionisio did step out da room to take a piss.
Graham is onto something you have just got to start to beleave in the future. Bitcoin is at its evloutionary stage in history like the electric car The man's at least up in his head has all kinds ways make billions just in the months I've been listening to his predictions and lost opportunistic running in the billions of dollars. According to Graham's economic predictions all the roads Nassau Town and Freeport, should've long ago been paved with gold.
Him makes making billions sounds so simple? Bill Gates and warren Buffets got angel investors and they pooled their money and put it behind their ideas and most importantly their ideas worked and was successful. Graham talks but he does not seek investors to fund his local hong kong bitcoin exchange and martha stewart.
He invest in Bitcoins but so hong kong bitcoin exchange and martha stewart many others world wide but that was not his idea so he is only going along for the ride no matter how volatile Bitcoin may be.
