Doofus Minnis should have never taken this failed hotel with its existing and ongoing liabilities off of the hands of Hutchison Whampoa (a deep pocket Red Chinese company) and on to the backs of Bahamian taxpayers. We must ask ourselves why was Hutchison Whampoa so easily let off the hook by the Minnis-led FNM government? Over the years Hutchison Whampoa has enjoyed enormous concessions of one kind or another. Furthermore, the side deals associated with the government's acquisition and maintenance of this hotel have only benefited a select few cronies of the Minnis-led FNM government, at great cost to Bahamian taxpayers. And Michael Scott still has the audacity to pretend there's a long line of buyers chomping at the bits to buy this failed hotel at a price that would have our government recover the $100 million plus it has so far sunk into it, inclusive of operating losses incurred and borne to date. Now that's a real joke if ever I heard one! LMAO

What you fail to understand, is that because the Chinese have deep pockets, they can afford to let it sit and languish. It is no skin off their back. It might even improve their bottom line with write-offs back home. Objectively, the Minnis adminstration knows this. Hutchison had no appetite to actively pursue the re-opening, so Minnis had to try something. Was it the best option? Who knows. Those special vehicles are off the books (as were the special vehicles that killed Enron) and it sounds kind of dodgy to me. You have to understand that Minnis is a linear thinker. He, like most Bahamian leaders cannot think or act outside the box. That sort of behaviour is driven out of us. But at least he is better than Perry Christie who was a no-thinker and ran a band of thieves, criminals, lowlifes and degenerates in the PLP.

There is lots of money floating around Nassau. Why didn't they create a public company, float the shares on BISX and let Bahamians in on the investment action? That is just one idea. They could have approached private equity partners, but they are a bunch of idiot know-nothings and don't know how. They should have hired an American or Canadian company to navigate their way out of this, but they are too proud and stupid to do so.

No foreign corporate interest that receives huge concessions from our government (the Bahamian people) would be able to let a property languish if our brain-dead governments would simply include provisions to the material agreements that would require the property to be returned to the Bahamian people whenever a lengthy shutdown or abandonment would pose a serious threat to our country's vital economic or security interests. Such a return of the property should be under reasonable conditions and circumstances and at a significantly discounted price to then current market value. This is a fair condition that should exist in all of these agreements whereby foreign corporate interests are granted exceptionally generous concessions tied to strategically or economically important property. Our out-gunned government officials always end up negotiating a terrible deal for the Bahamian people, one that ultimately benefits only a few corrupt politicians and their cronies. Truly a pathetic ongoing situation.

You both make good points. Now it's a mess with our greedy unionists never being grateful for what is offered.....

Mudda, no argument. But one minor point of clarification, if I might. Since 2005, i.e., first Perry Christie administration, all HOAs included a "clawback" clause, which allows the government to either reduce the concessions offered (including crown land) or allow the government to revise the HOA, or both. Of course, this situation preceded 2005, but at least we (Bahamian government) recognized that we were continually coming out on the short stick of these negotiations.

Yes, yes and yes - Comrades Minnis's, KP's and Carl Wilshire's, PublicPurse's "$100 million"- and still spending - purchase the Lucayan Hotel, can best be described as bordering on reckless pro-communism economics.
Yes, no with no rolls toilet papesr included in deal - what will the three red Imperials use wipe the shitty mess from their red asses with now....
Calls for a Royal Commission of Inquiry, headed by we beloved Queen, yes, no?
The PM said, “I have just recently made a deposit for the purchase of this hotel,” “I have signed the Purchase Agreement only to (save) not send home the jobs of 400 Grand Bahamalanders........ can't just make this no rolls toilet papers pro communism economics up, yes, no?

No

BEFORE ACQUIRING ....DIS HOTEL.......IT IS UNCEIVABLE....UNBELIEVING.....DAT....A SLEW OF GUBBERMINT ACCOUNTING...MATHEMATICAL....ARITHMETIC..LEGAL.....EXPERTS....AT DIS AMOUNT OF PURCHASE PRICE...CHARGES...CONTRACTS....LABOUR COSTS...LABOUR LAWS.........RECEIVABLES...SALARIES...REDUNDANCIES....PENSIONS...RTCETC........HAD COMPILED DA MONEY MATTERS..PROJECTIONS....STAFFING...OPERATIONS....PLANS...OPMIMUMS...DEFICIENCIES...HOTEL .FILE PAYING...DEFINITELY....LOW....DEFINITELY HIGH COSTS RANGES...,!!!.SITTING ON SOMEONE DESK.....,!!.....erry junior accounting student done know essentioal procedures...!!!
It aint been no crying Pore mout dey dont have money.....as admirable as Mr. Scott trying to save....bless him......it gubbermint owe workers by law dey hav to go by the law an give we pore taxpayers funded hotel....monies owed to workers...no charade of stenching.......union would den .. seems to push lawsuit against hotel...push into liquidation...mabye...???

Yes, yes and yes - ironically, most Freeporters are not as gullible as the five Imperial red MP's are making them out be - they've long known the "had" to purchase Lucayan Hotel by Minnis, KP and Carl Wilshire, was a shitty deal not worth anywhere near the $65 million - even if Whampoa, had not removed - all the opened and unopened case rolls toilet papers from the hotel's premises, yes, no?
You just can't make up, how the left hurricane damaged hotel's chairman Michael was quickly on phone to Whampoa after the Imperial reds tooks possession the Lucayan - demanding they immediately return every single case opened and unopened rolls shi# papers, yes,no - true? Still, how Whampoa was allowed walk away from hurricane damaged hotel, with $35 million collected in insurance monies, yes, no?

this hotel is the epitome of the failure that Freeport clearly is. I mean just bloody kill it put the people out of their misery.

One thing for sure No one can be worse than doc. Doc did not even collect the \
Stamp Tax from Hutchinson How DUMB is that??. In spite of those who would like
to lift him up the peoples time voters. The Bahamas is in trouble with "roc wit doc:'"

not to mention OBAN.

Most people posting to this web site know that you are a Davis-connected (paid) troll tasked with injecting as much confusion, mayhem and misinformation as possible in an effort to dampen or drown out the voice of those who have very legitimate concerns for public consumption. Thankfully most commenters and readers now completely ignore whatever is written under your handle, as well as the handles of others like you with your same intent. LMAO

I have a sentimental link to the hotel or at least the property that it sits on. Apparently there was a previous hotel on the property called the Atlantik or Atlantik Beach Hotel. My parents spent their honeymoon there and I apparently I was made there. This was before it belonged to Hutchison, otherwise perhaps I would have a pseudo-legitimate claim to a Chinese passport.

I was a guest at the Atlantik on several occasions in the early 80's. If memory serves me well it was developed/owned by a German fella (Meister?)

Yes, yes and yes ma comrade Banker, here's little something dug up from past to help you overcome you historic conception emotions.
Thousands Freeporters and tourists alike, poured out onto the streets to witness Freeport's Atlantic Beach Hotel being exploded back in 1998 to make way for the Lucayan Hotel..... which undoubtedly the Lucayan is but only weeks away from new owners scheduling her meeting her own death appointment with the Explosion Maker, yes, no?

- The Freeport's Atlantic Beach Hotel's demolition -

https://www.youtube.com/watch?v=msD7bb3…

Thanks for that. I would have noted the demolition of the hotel because it would have undoubtedly made the papers. But in 1998, I was away at school.

Anyone seen the Bazaar lately? or the surrounding hotel properties? They need to be demolished...they are all eyesore, bush and weed.. I pass them every day to and from work. Maybe you folks in Nassau cannot appreciate what the gov't is trying to do, so we use the medium to cut down and criticize what is being done. Most of us here can live with that. You better hope Atlantis or Baha mar don't close. My take is better to save a hotel, keep it attractive til a buyer comes along. No one wants the Royal Oasis now, its just an old building sitting in the bushes.

Grand Bahama was doomed long ago by Poodling when he accepted a small 7 or 8% shareholding in the Grand Bahama Port Authority (GBPA) from Edward St. George and Sir Jack Hayward to basically let them get away with anything they wanted to do under the Hawksbill Creek Agreement, including getting extensions of the very generous tax exemptions and other concessions available under that Agreement. The smart money quickly abandoned Grand Bahama in the late 1960's and early 1970's and never returned. The very greedy St. George and Hayward, and their family members, cashed out most of their holdings and other interests in the GBPA years ago by selling off to the Red Chinese. And we all know what has happened to Grand Bahama since then under Hutchison Whampoa's rule. Fraud and corruption between our most senior elected officials and greedy foreign investors have always been the dark cloud hovering over Grand Bahama and its pitiful situation.

Yes, yes and yes the long in years mystery surrounding whatever hell happened to the supposedly 7% shareholdings - supposedly issued to and owned by Colony of Out Islands in the the Grand Bahama Port Authority, or some subsidiary of, yes, no and if so be the accurate case - where in hell are the supposedly 7% Share Certificates being kept, and has the any comrade from this hereto Tribune newspaper, ever asks to actually see and touched them supposedly 7% Share Certificates..... word on street corners has it the 7% Share Certificates just supposedly vanished.... were shares sold and who hell was monies paid to, yes, no didn't the Papa Hubert administration promising take steps ask partition the court to help them look for the 7% shares that supposedly existed at one time or another, yes, no?

Most people posting to this web site know that you are a Minnis-connected (paid) troll tasked with injecting as much confusion, mayhem and misinformation as possible in an effort to dampen or drown out the voice of those who have very legitimate concerns for public consumption. Thankfully most commenters and readers now completely ignore whatever is written under your handle, as well as the handles of others like you with your same intent. LMAO

They should be offered what they are entitled to by law. If the Government is not offering that then they need to up it. If they are then thats it.

The cabinet made a purely political decision to pay the line staff more than the directors of the SPV wanted. Now the managers want theirs. They are being told there is no money.Right about that,this is the taxpayers'money.