The Tribune

EDITOR, The Tribune.

Hawksbill and Grand Bahama Port  Authority - looks as if PM Christie wants to meddle here now.

For better, far from worse, in 1955 the Government accepted a wild proposal to take some pine barrens and promised to turn it into a new metroplex of Tourism and Industry ... 55 years later after back-to-back devastating three hurricanes, the unexpected death of a partner and the more recent death of the other, incredibly PM Christie thinks he can cure what giants of commerce have not been able to. Here we go again the politician messing in where they shouldn’t.

Whether one supports the initial premiss and format of GBPA is immaterial – it is a reality and many Bahamians, yes black Bahamians, have made a lot of money and have gone to be very wealthy from participating in GBPA but, of course, PM Christie and his cohorts will not admit that.

We are now hearing the spin - the usual faces aided and abetted are on the talk shows and writing and being interviewed but has anyone of them actually read the text of Hawksbill and the subsequent Amendments? Even Ministers showed in the House this week they hadn’t a real clue. Surely the Minister responsible for GB should know that the treasurer has owned 162,973 shares from back around 1970 some 40+ years ago but then what’s ignorance in the House of Assembly? Government appoints directors, sir.

Have the partners of the Port any annual responsibility under any law to continue to invest? Do they have an unfulfilled commitment? From what I can discover absolutely no so why Mr PM are you advancing what is, without the Partners agreement, in principle an abrogation (breach) of the standing law or in essence “nationalisation” of the port? A forced take-over.

Yes, from Edward St George’s unexpected death, till now, about 16 years little has occurred but was that the fault of GBPA? I recall GBDevCo had a mega real estate project, this is Hutchinson-Whampao, why didn’t that happen? I recall an announced hotel project with Marriott Hotels, why didn’t that happen? Then there was the mega Chinese Company - CITIC who proposed a multi-million land-sea-air warehouse distribution centre - I recall the #2 of China at the time, Madame Wu, visiting two-three times, a lot of press releases but the land remains undisturbed. The initial phase of a distribution centre with that major Florida-based Food Wholesale operation, built stage (1) then what?

I further recall one Hon Obie Wilchcombe getting some business going in that property which went belly-up so the good Minister knows first-hand the problems and the reasons possibly why GB has problems to attract viable business. Interesting, no credit to the billions Hutchinson-Whampao poured into GB, $1.2bn alone in Our Lucaya which has been haemorrhaging as much as $40m a year - billions into the Container Port (Minister Wilchcombe, what is the average pay for their workers?) A lot of good has happened, let’s recognise it.

We can’t forget the merry Scot, Rody from London with his Russian associates who signed a deal with the Haywards for their share of The Port – spent millions, travelled all over the globe gathering information to no avail only to skip town allegedly leaving the Haywards to meet their horrific legal bills for the litigation with their partner, the St George’s.

Rody had all the answers, detailed plan but that all fizzled. A London Venture Capital expert. Why?

There are some very positive supportive assets for GB, but there is also many real negative issues – an island hit three times by a hurricane is not a very good advertisement for any developer-investor even if the Government is delusional that GB is better than sliced bread! If anyone did not notice, the majority of the island sits at sea-level! More hurricanes have hit GB than any other Bahamian island.

Imagine if the Ginn sur Mare, West End, project had worked? Do you think today Minister Darville or Wilchcombe would be ranting as they did this week?

Major global banks have tried and tried to bring that project back, but have failed.

Did the Treasurer refuse the millions in Stamp Tax on the multiple sales of BORCO and Riding Rock?

As true as the sun will rise today in the east, this same PLP, led by the same Perry Christie, then Leader of the Opposition, voted for the Amendments to the Hawksbill Agreement proposed by then PM Ingraham’s FNM Government. A convenient lack of memory.

PM Christie – be exceptionally careful which direction you take – I throw in a simple proposal – grant a six-year extension to the Real Property Tax exemption conditional that in that six-years the Port has to cause new development of a value of US$2 billion. If they achieve this then the exemption would be extended for a final four-years, a max of ten years from today. Note there are some 35 years remaining under Hawksbill.

Can anyone advise where the McKinsey Consultants report is? Why hasn’t it been made public? There has to be something controversial as otherwise you know Christie would have plastered it all over the newspaper with supplements, etc… To boot a Court Order to release the report, but AG refuses to.

Come off it, Minister Wilchcombe - the civil works at Fishing Hole Road didn’t happen before except no Government was interested - knowing this area well I pray some consideration has been taken as to the southern end of the Creek when the increased tidal flow from Fishing Hole will hit the area close to the back of Freeport Harbour – will the brilliance of this elevated causeway flood the GB Power Station and all the area around it and cause a massive electrical outage?

Ask the shareholders in FOCAL whether it is better in Grand Bahama? Everyone knows who the players there, PLPs-FNMs, the Wilsons, Bradley Roberts, Orville Turnquests, Coakleys and others all now millionaires – who own- the land of the two major food stores? The Butler Family as in Milo. Look at the homes - sorry anyone suggesting there has not been some success in the development of a pine barren to today is blind and delusional.

Mr Prime Minister, be advised, use a soft hammer and stop listening to those chronic talk show callers.

The past tells a story why investors came - saw and either failed and left – listen carefully before you make an incredible mistake and all of Freeport will suffer more. Let’s be honest, we have suffered a lot and for a long time.

H RUSSELL

Nassau,

February 20, 2016.