Theft In Progress – Somebody Call The Police! (oh, ya… nevermind)
Everybody knows that the best predictor of future performance – is past performance.
That’s why a store owner doesn’t hire a paroled thief just out of jail for the position of head cashier.
The Government of Barbados has poured millions and millions into the GEMS hotels and refuses to provide an accounting even though it is required by law. They can’t even say how much they have lost.
Nor will they provide any explanation for government purchases of run-down hotels that belong to “special friends” of the government.
Now our Instant Millionaire Minister of Tourism Noel Lynch wants us to believe that everything can be solved with yet more tax money and the same management team – with, of course, absolutely no accounting for what has been spent thus far.
“Just give me one more chance” says the applicant for the Head Cashier’s job…
See our previous story Barbados Government Enters Time-Share Vacation Hucksterism – But Shuns The Words “Time Share”
We notice that in the original announcement as reported in the link above, Minister Lynch said that Hotels & Resorts would be the company that was given the land to build condos. The latest report (below) indicates that the land is being given to a company called “Sapphire Inc.”
I wonder who owns “Sapphire Inc.” and if any politicians or their family members have any shares?
Adrian Loveridge was thinking about the same thing when he sent this…
Who and what is Sapphire Inc?
‘Chance for Gems to bounce back says Lynch’
‘Minister of Tourism Noel Lynch hinted at this yesterday as the House of Assembly approved the grant of a lease of land owned by the Crown to the company Sapphire Inc., for the project’.
Where is this company registered?
Who are the directors?
What is its share capital?
What is its previous experience in operating Condominium hotels?
Let me see if I have this right!
‘Government hoped to sell most of the units on the international market to non-residents’.
So, non-nationals will purchase individual condominiums on Government (taxpayer) leased land?
What is the length of the lease and exactly how much is Sapphire Inc., paying to lease the land?
More questions than answers.
Here is the article in The Nation News…
Chance for Gems to bounce back, says Lynch
Published on: 6/27/07.
A new condominium project planned for St Lawrence Gap in Christ Church could well represent a new lease on life for the controversial Gems of Barbados hotel group.
Minister of Tourism Noel Lynch hinted at this yesterday as the House of Assembly approved the grant of a lease of land owned by the Crown to the company Sapphire Inc. for the project.
The development “gives the Gems an opportunity to really claw back”, he said.
The project “will move the Gems of Barbados – at least start the process of restructuring the portfolio of the Gems, which is so much needed”, he added.
For years Gems has been under attack by the political Opposition as a badly conceived project that squandered money while attempting to rescue troubled hotels.
‘Right way to go’
Lynch told Parliament the Gems project had suffered some “significant operating shocks”,
but getting involved in the new venture was “the right way to go”.
The new project will use the former location of the Dover Convention Centre to construct 54 condominium units.
Last year Lynch said Government hoped to sell most of the units on the international market to non-residents.
Under the contract, 80 per cent of the units will return to the rental pool for a minimum of nine months of the year. They will be marketed and managed in association with an upgraded Time Out At The Gap, one of the Gems hotels.
Part of the receipts from the initial sale of the units will be ploughed back into upgrading Time Out At the Gap and other Gems properties, according to Lynch.
The minister said the jury “is still out on this issue of condos versus traditional hotel rooms”, but Barbados had to find creative ways to help “under-performing” hotel rooms.
Most tourism developers were now involved in a mixture of accommodation, he reported.
… read the original lies as reported uncontested in the lapdog Nation News (link here)