Comment history

Economist says...

Part of the debt that the PLP complained about were the road works in New Providence. At least we can see something for that debt.

Economist says...

It should and can be done. You don't need to build up reserves to do it.
I have spoken to experts in the field and it can be done BUT you need the US to agree to provide certain things. Apparently, we have never asked.

Economist says...

Good for the new Minister to pay attention to this. Finally we have someone with sense in the Ministry of Finance.

Economist says...

Of course you can shut down Bahamasair. You ave to write off the $550 or $650 million and save $30 million a year.

By keeping Bahamasair we just go deeper into the National Debt.

Economist says...

The British nor the Canadian Governments own those airlines. British Airways was privatized around 1985.

The Dutch sold KLM, Belgium let Sabina collapse and the Canadian government sold off most of Air Canada. The Swiss let Swissair go into bankruptcy and shut down.

The Bahamas doesn't need a so called National Airline that loses $30 million a year.

Bahamasair is under capitalized, over staffed and was never set up to stand on its own.

Economist says...

So far so good. The Government seems to realize that the best way to get the economy going is to get the private sector back into better health and growing.

Economist says...

Shut Bahamasair down. Sell the planes and take a onetime big loss. Save the Country 150 Million between now and the next election.

Western, SkyBahamas, Pineapple Air and the others can benefit so as to be able to purchase better equipment.

How can they compete against an airline (Bahamasair) who can always get more money?

Economist says...

Tal, do remember the Dolphin Hotel? Do you remember who owned it?

D'Aguilar grew up in the Tourist Industry. The reason his family sold out was created by the then government allowing Crystal Palace to under sell all the small hotels during "spring break".
The Europa, the Olympic, the Dolphin and the Atlantique hotels (all locally owned were put out of business).

It suited the then government who did not want to have to deal with a group of Bahamians who could be difficult when they could have foreigners owning the hotel industry who were far more compliant.

Economist says...

For years The Bahamas has spent hundreds of millions of dollars (dredging the harbor, new docks etc,) to encouraged the Cruise ship passengers to come.

In the 1970's the then government boasted about the number of tourists but never bothered to focus on the "real" tourist, the air arrival.

Let's hope that we change course and go after the air arrival.

Economist says...

Agreed, no one has been fired. A proper investigation has to be carried out first.

The proper procedure is to put the gate keepers on suspension, paid leave or vacation until the investigation is complete.

The PLP does not understand this as they allowed everyone at Road Traffic to stay so that they could cover their track and obstruct the investigation.