I am a total outsider looking in, who has been reading up on the unfortunate situation with this project, and I have no ties to any political party in the country, Sarkis, or the Chinese. Its interesting to read things like this as of course everyone will have their own opinions, which in itself and has really sparked quite the online debate. Maybe somebody can clarify some tthings:
1. Are the talks actually finished between all the parties? With all the back and forth going on its hard to determine. Reading your PM's statement they are finished without success, but wouldn't that warrant a full out press release stating no deal? I also found it interesting that when the PM was striking back at the comments made by Baha Mar, he did not deny that, or the list of things that they wrote. He only spoke about this winding up petition and how Baha Mar basically didn't know what they were talking about.
2. If Baha Mar was to get their approval for chapter 11 - wouldn't your fellow Bahamians still be employed right now while a new plan is being hatched? I ask this because I see many people upset that Sarkis went to Deleware to protect his assests...well thats putting it lightly, 900 million to be exact. What I find interesting is that on both sides of this discussion for those who agree/disagree with Sarkis, both do not want the Chinese to take or have control of this large piece of real estate. Wouldn't his filing for chatper 11 have achieved this? Also, if Bahamas does not have that type of frame work in place legally, what's the opposition to an investor trying to protect his investment? Mind you, he wasn't looking to file chapter 11 to pull out of the Bahamas, it was to continue to move forward in the Bahamas and get this project open...yes of course to his beneift, but moreso the benefit of the Bahamian people with the thousands of jobs created. Last week when I was playing like I was a stock market guru online, I lost $300USD investing in some random stock..boy I was upset. Could you imagine having a 900 million investment and losing that?
I don't pretend to know anything about the law, or what exactly is really going on there, I was just curious as I read all the posts. Bahamas is a beautiful place and I know that if that place opens, tons of people would flock there for vacation. Unfortunately the longer it takes, the more skepticism people would have with booking, especially tour operators who basicially can make or break it for the property. Whereas you would normally have lots of bookings in advance,if this project stretches out past the end of the year, people would not want to book until the property is actually open. Us North Americans love to run away from the cold and we start booking our winter vacations stating the end of August, advance bookings are where its at.
I truly hope it all works out for the benefit of the Bahamian people.
jups says...
Hello Everyone,
I am a total outsider looking in, who has been reading up on the unfortunate situation with this project, and I have no ties to any political party in the country, Sarkis, or the Chinese. Its interesting to read things like this as of course everyone will have their own opinions, which in itself and has really sparked quite the online debate. Maybe somebody can clarify some tthings:
1. Are the talks actually finished between all the parties? With all the back and forth going on its hard to determine. Reading your PM's statement they are finished without success, but wouldn't that warrant a full out press release stating no deal? I also found it interesting that when the PM was striking back at the comments made by Baha Mar, he did not deny that, or the list of things that they wrote. He only spoke about this winding up petition and how Baha Mar basically didn't know what they were talking about.
2. If Baha Mar was to get their approval for chapter 11 - wouldn't your fellow Bahamians still be employed right now while a new plan is being hatched? I ask this because I see many people upset that Sarkis went to Deleware to protect his assests...well thats putting it lightly, 900 million to be exact. What I find interesting is that on both sides of this discussion for those who agree/disagree with Sarkis, both do not want the Chinese to take or have control of this large piece of real estate. Wouldn't his filing for chatper 11 have achieved this? Also, if Bahamas does not have that type of frame work in place legally, what's the opposition to an investor trying to protect his investment? Mind you, he wasn't looking to file chapter 11 to pull out of the Bahamas, it was to continue to move forward in the Bahamas and get this project open...yes of course to his beneift, but moreso the benefit of the Bahamian people with the thousands of jobs created. Last week when I was playing like I was a stock market guru online, I lost $300USD investing in some random stock..boy I was upset. Could you imagine having a 900 million investment and losing that?
I don't pretend to know anything about the law, or what exactly is really going on there, I was just curious as I read all the posts. Bahamas is a beautiful place and I know that if that place opens, tons of people would flock there for vacation. Unfortunately the longer it takes, the more skepticism people would have with booking, especially tour operators who basicially can make or break it for the property. Whereas you would normally have lots of bookings in advance,if this project stretches out past the end of the year, people would not want to book until the property is actually open. Us North Americans love to run away from the cold and we start booking our winter vacations stating the end of August, advance bookings are where its at.
I truly hope it all works out for the benefit of the Bahamian people.
On UPDATED: 'Door closing' on Izmirlian's opportunity to strike a deal
Posted 19 July 2015, 4:34 a.m. Suggest removal