While twin engine aircraft are designed to fly on just one engine the left engine , as was the one lost in this case, is the most critical one to lose. The end result will depend highly on the skill and experience of the pilot and by Gods grace it was a safe landing.
Wasn't there a news story around December that the China Bank did not want the China Construction Company back on the project? Seems like smoke and mirrors that they are now saying this company is being mobilized to complete the work. But at least some work is better than no work at all.
If the property continues to sit idle the full value will never be realized. Not only is there depreciation but the property will begin to deteriorate. The longer it sits the more this will happen and the less sellable the propriety will become. Getting full value will become impossible
Despite his leadership style and the criticism of it, Hubert Minnis managed to keep the party together for near five years, and it is doubtful that he will willingly give up the role of leader before an election. The PLP will have access to deep pockets for the upcoming election and like all governments do, they will be spending taxpayer money selectively and to their advantage. Of course no one wants to fund a party that appears to be split and falling apart, or one that doesn't seem to have the leadership and the machinery to win an election. Then it appears that like last election, the DNA will draw more votes from the FNM than the PLP. This is the time to put aside difference and get all hands on deck.
Bah Mar is in receivership, meaning the secured creditor, China EXIM bank has taken control of the properties and is now in the process of disposing of them to recover the monies owing to that bank. Izmirilan can only recover any part of his investment after the properties have been sold and all the creditors and the receivers have been paid. Thus far the bank is looking to get full value for Bah Mar, which means Izmirilan may get something back. But if they decide to sell below value, with justified reason, then Izmirilan may walk away from Bah Mar with nothing. Also he can recover if the bank comes to an agreement with him and allows him to continue as the investor/operator of Bah Mar. Unfortunately this does not seem to be the wishes or intentions of the government. Not since they are not talking to Izmirilan. at all.
Will the summer Olympics be an all male event? At least for competition. Well as concerns about the zika virus at the games grow, some are now suggesting that female athletes not compete at the games. At least not those of child bearing age (just about all) and especially those who may become pregnant within a shot time after the games. But experts in Rio say the concern is overrated. They claim that the games will be held during the "wintertime " in Rio, when the mosquitos population is low. But some 16 states in the US have reported cases of the virus and at least ten of these States are winter bourne.
meanwhile around the world: the only recent robust and booming economy of Brazil is in shambles. The collapse is mainly due to politics and corruption, including bribery. China has suspended trading on its market several times in the same week to avoid a collapse of that market. It has also instructed some of its banks to suspend trading in US $, obviously to avoid a run on banks where panic stricken investors take their money and run. Japan, in the main time has made a decision for its banks to charge negative interest on large deposits. This means that monies deposited overnight will lose 1/2 percent interest. This is a move to get persons with large deposits to take their money out the bank and invest it. But in the main time the US is contemplating raising interest rates. This is an effort to strengthen the dollar and reduce the cost of trade. This will also mean the expense of countries in debt with the US, like the Bahamas, Brazil et. al., will also increase. The cost of oil is still on its smooth but sharp climb downwards. Oil is expected to hit $20 in a matter of weeks as Itan gets back in the market. Because of the disunity and competition between oil producing nations, everyone is refusing to cut back on production so the price continues to tumble. But despite the lower prices of oil and gas, there is no corresponding increase in consumption. Consumer spending is down all over and this will mean that some gas stations will soon be out of business. They are not selling enough has at the new low prices to cover overhead. Thousands of workers in the oil and petroleum industries have already lost jobs. Here in the Bahamas we continue to pay relatively high prices for gas and electricity. Who is benefiting? In the main time Samsung has recorded profits of some 5 billion for fourth quarter 2015. This is double the profits for same per 2015. Samsung and Apple are the two major players left in the cell phone market, but claims that most of its revenue and profit were generated from other products like semi conductor and microchips.
Can you elaborate on some of the serious mistakes Izmirilan made? Wasn't he the one crying out some two years ago that the Chinese were stalling and trying to sabotage the project? Didn't he try to take control of Bah Mar by filing from bankruptcy protection to try complete the project? Didn't the Christie government interfere with the process and wrestle bah mar from Izmirilan and dump it safely in the laps of the Chinese? isn't Christie starting to hint, and even utter, that it is difficult negotiating with the Chinese because they do not want to budge from their original position? And so isn't that why most of the "world class" hotel operators who were interested in Bah Mar disappearing into thin air? What happened to the new proposal Sol Kerzner submitted a few weeks ago? So what will happen to bah Mar if no buyer is found and/or accepted by the China State bank? Does Chinese band (and government) come in and operate Bah Mar? Was this their original intention? To sneak in through the back door?
John says...
While twin engine aircraft are designed to fly on just one engine the left engine , as was the one lost in this case, is the most critical one to lose. The end result will depend highly on the skill and experience of the pilot and by Gods grace it was a safe landing.
On SkyBahamas passenger feared ‘we were going down’
Posted 3 February 2016, 1:54 a.m. Suggest removal
John says...
Think Izmirilin starting to look good to the Chinese again..and to the PM..juice 'em once shame on him..juice him twice, shame on you!
On Receivers ‘dual approach’ for Baha Mar resolution
Posted 2 February 2016, 7:24 p.m. Suggest removal
John says...
Well the landscape guys are back to work out there and they are all Bahamians. Ok one or two may be Haitian. But 50-60 people working.
On Govt admits its Baha Mar timetable ‘over-ambitious’
Posted 2 February 2016, 11:46 a.m. Suggest removal
John says...
Wasn't there a news story around December that the China Bank did not want the China Construction Company back on the project? Seems like smoke and mirrors that they are now saying this company is being mobilized to complete the work. But at least some work is better than no work at all.
On Govt admits its Baha Mar timetable ‘over-ambitious’
Posted 2 February 2016, 3:46 a.m. Suggest removal
John says...
If the property continues to sit idle the full value will never be realized. Not only is there depreciation but the property will begin to deteriorate. The longer it sits the more this will happen and the less sellable the propriety will become. Getting full value will become impossible
On Izmirlian seeks Baha Mar talks
Posted 1 February 2016, 4:39 p.m. Suggest removal
John says...
Despite his leadership style and the criticism of it, Hubert Minnis managed to keep the party together for near five years, and it is doubtful that he will willingly give up the role of leader before an election. The PLP will have access to deep pockets for the upcoming election and like all governments do, they will be spending taxpayer money selectively and to their advantage. Of course no one wants to fund a party that appears to be split and falling apart, or one that doesn't seem to have the leadership and the machinery to win an election. Then it appears that like last election, the DNA will draw more votes from the FNM than the PLP. This is the time to put aside difference and get all hands on deck.
On Former MP warns that FNM is facing financial trouble
Posted 1 February 2016, 3:57 p.m. Suggest removal
John says...
Bah Mar is in receivership, meaning the secured creditor, China EXIM bank has taken control of the properties and is now in the process of disposing of them to recover the monies owing to that bank. Izmirilan can only recover any part of his investment after the properties have been sold and all the creditors and the receivers have been paid. Thus far the bank is looking to get full value for Bah Mar, which means Izmirilan may get something back. But if they decide to sell below value, with justified reason, then Izmirilan may walk away from Bah Mar with nothing. Also he can recover if the bank comes to an agreement with him and allows him to continue as the investor/operator of Bah Mar. Unfortunately this does not seem to be the wishes or intentions of the government. Not since they are not talking to Izmirilan. at all.
On Izmirlian seeks Baha Mar talks
Posted 1 February 2016, 3:36 p.m. Suggest removal
John says...
Will the summer Olympics be an all male event? At least for competition. Well as concerns about the zika virus at the games grow, some are now suggesting that female athletes not compete at the games. At least not those of child bearing age (just about all) and especially those who may become pregnant within a shot time after the games. But experts in Rio say the concern is overrated. They claim that the games will be held during the "wintertime " in Rio, when the mosquitos population is low. But some 16 states in the US have reported cases of the virus and at least ten of these States are winter bourne.
On ‘I’m hoping that when I come back, I will bring some good news with me’
Posted 30 January 2016, 12:22 p.m. Suggest removal
John says...
meanwhile around the world: the only recent robust and booming economy of Brazil is in shambles. The collapse is mainly due to politics and corruption, including bribery. China has suspended trading on its market several times in the same week to avoid a collapse of that market. It has also instructed some of its banks to suspend trading in US $, obviously to avoid a run on banks where panic stricken investors take their money and run. Japan, in the main time has made a decision for its banks to charge negative interest on large deposits. This means that monies deposited overnight will lose 1/2 percent interest. This is a move to get persons with large deposits to take their money out the bank and invest it. But in the main time the US is contemplating raising interest rates. This is an effort to strengthen the dollar and reduce the cost of trade. This will also mean the expense of countries in debt with the US, like the Bahamas, Brazil et. al., will also increase. The cost of oil is still on its smooth but sharp climb downwards. Oil is expected to hit $20 in a matter of weeks as Itan gets back in the market. Because of the disunity and competition between oil producing nations, everyone is refusing to cut back on production so the price continues to tumble. But despite the lower prices of oil and gas, there is no corresponding increase in consumption. Consumer spending is down all over and this will mean that some gas stations will soon be out of business. They are not selling enough has at the new low prices to cover overhead. Thousands of workers in the oil and petroleum industries have already lost jobs. Here in the Bahamas we continue to pay relatively high prices for gas and electricity. Who is benefiting? In the main time Samsung has recorded profits of some 5 billion for fourth quarter 2015. This is double the profits for same per 2015. Samsung and Apple are the two major players left in the cell phone market, but claims that most of its revenue and profit were generated from other products like semi conductor and microchips.
On Exchange control reforms imminent
Posted 30 January 2016, 11:59 a.m. Suggest removal
John says...
Can you elaborate on some of the serious mistakes Izmirilan made? Wasn't he the one crying out some two years ago that the Chinese were stalling and trying to sabotage the project? Didn't he try to take control of Bah Mar by filing from bankruptcy protection to try complete the project? Didn't the Christie government interfere with the process and wrestle bah mar from Izmirilan and dump it safely in the laps of the Chinese? isn't Christie starting to hint, and even utter, that it is difficult negotiating with the Chinese because they do not want to budge from their original position? And so isn't that why most of the "world class" hotel operators who were interested in Bah Mar disappearing into thin air? What happened to the new proposal Sol Kerzner submitted a few weeks ago? So what will happen to bah Mar if no buyer is found and/or accepted by the China State bank? Does Chinese band (and government) come in and operate Bah Mar? Was this their original intention? To sneak in through the back door?
On ‘Preposterous’ for PM to take Baha Mar credit
Posted 30 January 2016, 11:16 a.m. Suggest removal