The government has no power in this. They are doing what they are told by the Chinese bank. They were bought and now they have no sway in the negotiations except to back their benefactors.
The bigger question is why hasn't the government collected tax arrears not associated with Baha Mar. The Baha Mar tax break are in the future and wouldn't even amount to the $408M if the resort wasn't built because the tax amount is based on the value and that property would not be as valuable with a mega resort sitting on it.
Currently the government has only actually given concessions for the duty reduced construction material ($286.312M), real-property tax exemption of ($10.758M from 2005-2012 so we'll double it to $21.516 to account up until 2015), and infrastructure costs which you could argue needed to be done, but we can include them ($49.503M). This totals $357.331M. That's all of the actual money, in either concessions or investment, that the government has actually given. The rest is just future money that would never exist if they had not approved this development. The government decided it was a good trade for the economy to do this (which you may disagree with). They are not investing the current $357.331M and trading future revenues without have a great deal to gain. To say that the government has just given $1.2B to this project is ridiculous.
For PwC as the intended liquidators, even if they are impartial, the coincidences keep adding up to a run around by our government to give Baha Mar to the Chinese.
Tal is not interested in facts or informed discussion anymore. She just wants to talk about a dock and blame Sarkis for anything, regardless of the topic. She's turned into a full blown troll. It's best not to feed the trolls.
They government left, derailed the talks, announced that they were going to try and take over the project, and now they are going back to continue negotiations.
I thought if you were about to get foreclosed on, the PM would call up the bank manager on your behalf and make them stop?
That's why Christie is so mad at Sarkis. If he just had of waited to declare Chapter 11, Christie would have called up the manager of the Chinese Bank and it would have all been fine.
newcitizen says...
The government has no power in this. They are doing what they are told by the Chinese bank. They were bought and now they have no sway in the negotiations except to back their benefactors.
On BAHA MAR LATEST: Government party flies home from China, no resolution
Posted 29 July 2015, 10:47 a.m. Suggest removal
newcitizen says...
The bigger question is why hasn't the government collected tax arrears not associated with Baha Mar. The Baha Mar tax break are in the future and wouldn't even amount to the $408M if the resort wasn't built because the tax amount is based on the value and that property would not be as valuable with a mega resort sitting on it.
Currently the government has only actually given concessions for the duty reduced construction material ($286.312M), real-property tax exemption of ($10.758M from 2005-2012 so we'll double it to $21.516 to account up until 2015), and infrastructure costs which you could argue needed to be done, but we can include them ($49.503M). This totals $357.331M. That's all of the actual money, in either concessions or investment, that the government has actually given. The rest is just future money that would never exist if they had not approved this development. The government decided it was a good trade for the economy to do this (which you may disagree with). They are not investing the current $357.331M and trading future revenues without have a great deal to gain. To say that the government has just given $1.2B to this project is ridiculous.
For PwC as the intended liquidators, even if they are impartial, the coincidences keep adding up to a run around by our government to give Baha Mar to the Chinese.
On Baha Mar’s $408m property tax breaks equal 70% of arrears
Posted 28 July 2015, 10:34 p.m. Suggest removal
newcitizen says...
Don't feed the trolls. Tal is just posting to get a reaction.
On BAHA MAR LATEST: Government party flies home from China, no resolution
Posted 28 July 2015, 10:05 p.m. Suggest removal
newcitizen says...
Tal is not interested in facts or informed discussion anymore. She just wants to talk about a dock and blame Sarkis for anything, regardless of the topic. She's turned into a full blown troll. It's best not to feed the trolls.
On Baha Mar wants contractor out
Posted 28 July 2015, 10:41 a.m. Suggest removal
newcitizen says...
They government left, derailed the talks, announced that they were going to try and take over the project, and now they are going back to continue negotiations.
Is this for real? What a farce!
On Govt delegation heads to China to resume Baha Mar negotiations
Posted 25 July 2015, 12:04 p.m. Suggest removal
newcitizen says...
I'm confused. Do you doubt it, or are you unsure if you doubt it?
On Sarkis offers extra $200m
Posted 24 July 2015, 5:05 p.m. Suggest removal
newcitizen says...
Tal's just a troll, don't feed her.
On Sarkis offers extra $200m
Posted 24 July 2015, 5:03 p.m. Suggest removal
newcitizen says...
Don't feed the trolls
On Sarkis offers extra $200m
Posted 24 July 2015, 5:02 p.m. Suggest removal
newcitizen says...
This is not limited to boats or the police. Maintenance is a foreign word to Bahamians.
On Only one vessel in Abaco to cope with boat thefts
Posted 24 July 2015, 4:28 p.m. Suggest removal
newcitizen says...
I thought if you were about to get foreclosed on, the PM would call up the bank manager on your behalf and make them stop?
That's why Christie is so mad at Sarkis. If he just had of waited to declare Chapter 11, Christie would have called up the manager of the Chinese Bank and it would have all been fine.
On Mitchell says investors won’t be scared off
Posted 24 July 2015, 3:25 p.m. Suggest removal