Daily Archives: July 10, 2006

Barbados Caribbean Splash Waterpark – What Happens When It Goes Bankrupt?

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What Happens When The Waterpark Goes Bankrupt?

No study ever considered it. No engineering report even mentions it. And worst of all, the proposed agreement by the Government of Barbados to lease land to Caribbean Splash Inc. fails to protect Bajans from the environmental and financial disasters that would surely follow the commercial failure of the proposed Caribbean Splash Waterpark.

Bankruptcies Happen Secretly, Slowly At First

Businesses don’t go bankrupt overnight. There is always a long period when management conceals the truth and attempts to save the business without alerting shareholders, suppliers or customers. We have all seen failing organizations cut staff and services in order to boost the bottom line. We have also seen businesses cut prices and profit margins in last desperate attempts to stimulate cashflow…

… But long before the public death throes of any business, there is a period when management secretly cuts back on maintenance, delays replacing worn equipment, and often dumps chemical waste to avoid disposal costs. Businesses that produce toxic waste can always improve current profitability if they can make future generations responsible for the clean up.

And so it happens time and time again. Businesses fail – and local communities and governments end up paying (often for decades) for management’s neglect, incompetency and criminal acts.

The “Not My Fault” Dance

After the disaster, the employees always say, “We knew, but were frightened to lose our jobs”. The company directors say, “We didn’t know. It was concealed from us by those no-good middle managers because of their profit-sharing deals.”

The politicians involved in approving the project lament, “Who could have known this would happen? We did all our due-diligence. Besides, we are not in government now and are enjoying our huge consulting fees.”

And the government of the day says, “Don’t blame us. We didn’t approve this, but we are stuck with the mess.”

After all the excuses and public outrage, there is usually an investigation and trial where middle management are charged and hung out to dry. Senior management walk free nine times out of ten, but even if they are convicted, the mess still remains.

Waterpark To Produce 47,000 Gallons Toxic Waste PER DAY

According to a well-researched report by Friends of Graeme Hall that just happens to be published on our website, (No Waterpark At Graeme Hall), the Caribbean Splash Waterpark will produce 47,000 gallons of toxic brine waste per day. The potential for an environmental disaster will always be present – even if the waterpark well managed and financially viable. If there is one thing that history has shown us, it is that no one can predict or prevent all human errors and mechanical failures.

But what if the waterpark is not financially successful? Then what?

If the waterpark fails, Barbados will be stuck with the financial and environmental consequences. What will that cost? I don’t know – no one knows because it has never even been mentioned by the Barbados Government nor Caribbean Splash Inc.

How About A Damage Deposit of US$500 Million Dollars?

Graeme Hall is not at all suitable for a waterpark, but should Bajans decide to allow a waterpark at any location on the island, the developer had better be prepared to put up a CASH deposit equivalent to the price necessary to dismantle and clean up a failed operation.

Start with half a billion dollars and work up from there.

Any Barbados Government that allows a waterpark to be built without obtaining a disaster deposit from the developer is criminally negligent.

Previous BFP Water Park Articles – Link here.

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Filed under Barbados, Barbados Tourism, Business, Environment, Island Life, Offshore Investments, Politics & Corruption

A Considered Look At The Barbados and Trinidad-Tobago Fishing Dispute

Stephen Vasciannie has written a piece on the Barbados vs. Trinidad and Tobago fishing dispute and is of the opinion that “Barbados …lost on the issue that was the immediate cause of the litigation.”

Whether you agree with him or not – the article is well worth the time.

Read it at the Jamaica Gleaner here.

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Filed under Barbados, Island Life, Politics & Corruption

Barbados Politics: Another BLP Website Goes Live – Lynette Eastmond

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Last Barbados election, Senator Lynette Eastmond lost the contest by a fairly narrow margin, but it has always been obvious that for Eastmond, the workup for the next election started the day after her loss.

Now, her newly-launched St. Philip West website is the latest addition to our Barbados Free Press list of political websites and blogs. (Link here)

You can have a look at Lynette Eastmond’s website here.

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Filed under Barbados, Island Life, Politics & Corruption