A huge Feather in the FNM government cap. It the PLP could have done this with the Princess towers properties sale years ago, freeport today would have still been the magic city that never missed a beat inspite of the hurricanes over the years.

Lets all hope this moves forward and is legitimate.

It would be a shame if this was only done for them to get approval for the project in Nassau to go ahead.

This article does not say much. But doc is exceedingly proud and the secretary 0f
the cabinet who was so over joyed at the OBAN fake signing . did she know it was
a fake signing.??

Time will tell, because doc has signed lots of agreement. that were not even worth
the paper they were signed on.

Minnis took it upon himself to buy the Grand Lucayan, renovate it and then operate it at a loss while looking for a buyer to enable the government to recover the $150 million plus of taxpayers' dollars that it has invested in this hotel property to date. This was done by Minnis after the previous owner, Hutchison Whampoa (HW), had determined the Grand Lucayan was no longer economically viable as a result of the declining Grand Bahama economy as exacerbated by the frequency of hurricanes even before Hurricane Dorian.

HW had earlier decided it was in their best interest to simply pocket the insurance proceeds it had received for damages caused to the property by an earlier hurricane rather than renovate and re-open the hotel. Minnis on the other hand foolishly decided to throw caution to the wind and buy the Grand Lucayan for $65 million. HW could not believe their good fortune, i.e. the dimwitted Doc's willingness to pay $65 million for an abandoned hotel property they had determined would never be economically viable.

Not only did our dimwitted Doc buy the Grand Lucayan, but he then proceeded to pay $3 million plus of staff costs that should have been paid by HW before government purchased the hotel. After buying the hotel property, Minnis had government invest a small fortune in having his cronies in the construction business renovate it while keeping its doors open and bearing significant operating losses.

At the end of day, Minnis had caused over $150 million of the people's tax dollars to be invested in the Grand Lucayan property. Then along came Hurricane Dorian which served to prove that HW's earlier decision to abandon the property was indeed a sensible one. It didn't take Royal Caribbean and its business partner long to realise that the Grand Lucayan was essentially worthless but had become a huge political liability for Minnis as a result of him foolishly encouraging the government to invest over $150 million in the property with absolutely nothing to show for it. Royal Caribbean quickly swooped in knowing that it could leverage Minnis's dire situation for its own great benefit. In fact Royal Caribbean has sinced played our dumber than dumb PM to acquire the Grand Lucayan for virtually nothing with all sorts of outrageously generous concessions to boot, including choice parcels of beach front Crown Land at the western end of Paradise Island.

The very sweet deal received by HW from government for the Grand Lucayan, plus the related outrageously sweet deals and concessions since promised to Royal Caribbean by government, all speak to just how financially foolish and reckless Minnis can be in his effort to buy votes and preserve his politocal powerer no matter what the cost to the vast majority of Bahamians and to the financial condition of our country. The only open question is do we really know about all of the quo for the quid that must have been showered on Minnis by HW and Royal Caribbean for their great windfalls.

Comrade PM and his Imperialists cabinet colleagues - never even delivered on promise to do a $10,000 paint up face lift on the - left all Hurricane all damaged hotel. Do you realize that even at the **highly unlikely be the true** Sale Price of $55, or $65 million - that the former owner - actually walked away but not before Whampoa - pocketed the full proceeds of the $65 million cash in insurance settlement they received- and they also loaded up every single roll of opened, and unopened, toilet papers to take with them? Not making this shi# up. Just, **can't.**

Hell, that's even worse. You mean to tell me millions of dollars were purportedly spent on renovations done by Minnis cronies but there's nothing to show for it ! Did Dorian blow away the renovations ?

Have you noticed the **4+** missing out photo op - left wonder the why so when its so damn obvious? Anyways.what imported republican spin genius operating out PMO-decided it would a smart idea to feature the senator for FREE port's **New Disaster.** I swear, I'm not making that up, that's his official ministerial portfolio's responsibility..

Where is the Commonwealth of the Bahamas Official Opposition Party's commentary, or presence on such a milestone on the 'signing of the sales and heads of agreement' very large nation's property?

Is the continuous trend where the Official Government for usually 5 year term continues to made deals with just the imput of the one ruling political party in power? What is the Official Opposition getting a taxpayers funded salary doing?

Ma comrade Bogart, siestas in Colony of Out islands are better known by the Queen's Official **Loyal** Opposition - as their **quiet times.** God, dump we Official Opposition but do Save We Beloved Queen Liz!

You're so funny!

Proudloudfnm must be family to Rodney Moncur ……… loves to hate Minnis.

But seriously speaking, the FNM dodged a big bullet here by offloading this colossus of a hotel in a place where most big GB hotels stand abandoned since 2000 ……… No matter what concessions were given, at the end of the day, some jobs will be provided and the spin-offs from having the cruise ship company involved will hopefully pay off for GB.

I found this, Dated Sept 21st 2019, I wonder what Brave is saying now...

By KHRISNA RUSSELL
Deputy Chief Reporter
krussell@tribunemedia.net

THE government’s acquisition of the Grand Lucayan was likened to Oban Energies’ proposed $5.5bn oil refinery for Grand Bahama as the Official Opposition continued its assault on the hotel purchase.

“This is not Oban, though it is equally a bad deal,” Official Opposition Leader Philip “Brave” Davis told Parliament yesterday as he called on the government to provide a business plan to support its decision.
In his communication to the government’s resolution seeking $35m to complete the Grand Lucayan sale, Mr Davis rejected Prime Minister Dr Hubert Minnis’ assertion the former Christie administration did not have a plan for the Grand Bahama property.

But although he sought to prove the government’s plan for the resort is insane, Mr Davis did not say whether he supported the resolution – as is customary during House debates of this kind.

“I also ask the government to provide a business plan to support this massive financial undertaking,” Mr Davis said.

“Parliament needs to know and the Bahamian people need to know the likely impact of the purchase and operation of these hotels on the national debt and ratings of international agencies.”

Regarding the PLP’s plan for Grand Bahama, Mr Davis said the outgoing Christie administration left a comprehensive report outlining measures needed to ensure both the short and long term sustainability of the Grand Bahama economy, particularly Freeport.

The very nice deal HW received from the government for the Great Lukyan, plus the incredibly nice deals and concessions the government promised to the Royal Caribbean, suggest how reckless and reckless from a financial point of view Minnis's drive to buy votes and keep them can be. its political influence is independent of the cost of the vast majority of Bahamians and the financial situation of our country.