Comments on: “Another Failed Attempt To Mislead The Public”

By: RBKing

RBKing — Sun, 30 Aug 2015 11:38:51 +0000

Aren’t these the people that privatized Stonington Beach?

By: Jadon

Jadon — Sun, 30 Aug 2015 01:38:17 +0000

No we don’t. When have you ever been to a country and said ” I’m not going back there! Their airport was trash ” said no one ever !! It’s for their friends and self benefits…. Most of us know what you your up to OBA/UBP.

But hey…. The worldwide recession was PLPs fault…. Lol

By: Build a Better Bermuda

Build a Better Bermuda — Sat, 29 Aug 2015 18:15:53 +0000

That is the current unknown variable and why this next phase of negotiations will cover. Up until now, all projections have been based on the existing airport model that will become for the most part, irrelevant to the new airport’s cost

By: Triangle Drifter

Triangle Drifter — Sat, 29 Aug 2015 13:17:16 +0000

You really have to sit & smile sometimes. The PLP was all set to build a new terminal, at no less than double the current cost being estimated BTW, & there was not a single peep from the obedient followers.

No question about a need. It was needed then. No question about the cost & how many decades it would take to pay it off. More than 30 years for sure.

Silence. Absolute silence. The PLP could do no wrong.

It is a good thing that the project was dropped after who knows how many millions were spent just getting to the stage of a pretty artists view of the new terminal, complete with marina.

So now we listen to the rabble hoot & howl about a terminal at half the cost & years less to pay for.

Oh yes, it DOES have to be paid for. CCC is not going to be able to build it for free then everything after that is profit. Believe that & you believe in fairytales.

By: Hoolieh

Hoolieh — Sat, 29 Aug 2015 10:03:30 +0000

This is really scary!

We’re doomed if the PLP every get back in!

It’s NOW clear to me, they do NOT understand financial issues.

Hence, there should now be NO surprise that their tenure as Government resulted in major deficits/debts.

Can they not find more intelligent or financially savvy candidates?

Stunned!

By: Miss Lady

Miss Lady — Sat, 29 Aug 2015 06:12:27 +0000

If they have the money to spend on a new airport, why don’t they use that money and apply it to the islands debts. Bring our ratings back up and take some of the financial burden (that we shoulda have been feverishly trying to work off) away. Instead of using a company that they haven’t did a clear background check on.

By: Ruthless

Ruthless — Sat, 29 Aug 2015 00:57:54 +0000

Come on PLP try something different cause if you don’t stop these projects from going ahead and Bermudian are put back to work, you don’t stand a chance in any election.

By: James Rego

James Rego — Fri, 28 Aug 2015 22:56:48 +0000

How much is it going to cost AECON in maintenance over 30 years?

By: Philip

Philip — Fri, 28 Aug 2015 22:56:27 +0000

How can we trust the ppl with numbers and finance when they blew the bank in power now they seem to be experts …please

By: Huh

Huh — Fri, 28 Aug 2015 21:36:57 +0000

You have not factored in the economic multipliers/Govt. Tax Revenue multipliers of the construction of a $200,000,000.00 airport, Morgans Point development, new East End Hotel, Ariel Sands, America’s Cup people/development, Town Cut widening/new St. Georges Cruise Ship, Old Sonesta hotel site development. So your Govt. Revenue figures are too low.

By: aceboy

aceboy — Fri, 28 Aug 2015 20:14:45 +0000

All they need to do is “sound” smart. The masses will eat it up. Just look at the statements made by Paula Cox over the years she was Premier…lots of big words that meant nothing. To some though she really sounded like she was smart.

By: Toughchit

Toughchit — Fri, 28 Aug 2015 19:59:36 +0000

Nevermind. Missed that line in your post sir.

By: Toughchit

Toughchit — Fri, 28 Aug 2015 19:58:55 +0000

But won’t the expenses related to the airport operations also be removed off the books?

By: Navin johmson

Navin johmson — Fri, 28 Aug 2015 19:26:00 +0000

Is it the Honorable Shadow Minister. Sounds like a silly mid-on

By: Justin

Justin — Fri, 28 Aug 2015 19:22:36 +0000

Larry,

The fact is that we need a new airport. Can you work out how much interest Bermuda would be paying over 30 or even 35 years if we were to borrow the money instead? My intuition says Bermuda would be in about the same position, but at least this way Bermuda is taking hardly any risk. You are also assuming that this larger airport is going to be able to be operated on the same budget ($20m) as our current smaller airport which I think is a stretch.

Do I think someone else can build it for less? Possibly, but how much are you going to spend putting it out to tender? Does it make sense to spend $10 to save $3? I don’t think so.

By: Build a Better Bermuda

Build a Better Bermuda — Fri, 28 Aug 2015 19:20:15 +0000

Your entire premise is based on the assumption that government will be giving up the entirety of the revenue stream to AECON. As we are only getting into the economics of the contract now, once the actual airport design I’d finalized we will actually be able to model the cost for the new design, so the expenditures model for the current will most likely have a large percentage of error for estimation use. Only now can government actuall begin to negotiate exactly what revenues or percentages of revenues will be designated to AECON for the development and operations reimbursement. I could be wrong, but I can’t recall the government saying that they would be giving the airport revenue stream control over to AECOM… I know they said that the airport revenues would be used to finance the project and eventual operations, but I don’t recall them actually say they were going to give all the revenues over. That has been statements from the PLP and other opposing parties.

By: Lois Frederick

Lois Frederick — Fri, 28 Aug 2015 19:09:24 +0000

Caution, it looks to be another one of those Number Bombers.

By: Onion

Onion — Fri, 28 Aug 2015 19:09:07 +0000

Why should people be in favour of it when the OBA are terrible at communication and the PLP are on a mission to mislead.

Presumably if people were given the choice between the PPP and the PLP’s implicit choice of public borrowing (since the PLP don’t oppose a new airport) then people would choose the PPP.

By: Lois Frederick

Lois Frederick — Fri, 28 Aug 2015 18:33:13 +0000

Therefore I expect a crowd of at least 20,000 people objecting to the airport project along with organiser John Holdipp next week.

By: Larry Burchall

Larry Burchall — Fri, 28 Aug 2015 18:29:10 +0000

There is a fundamental and inescapable flaw in this proposed Airport scheme. Set out in the most basic terms, this is the fundamental flaw – the fault – the crazy fact.

All the (*) figures are the rounded up figures from Government’s published accounts. All the (**) figures are calculations from Government’s accounts figures.

IN FY 2015/16 and before AECON
Gov Revenue +$ 931m(*)
Gov Spend -$1,151m(*)
So Gov Deficit -$ 220m(**)

Airport Revenue in 2015/16 +$31m(*)
Airport Expenses in 2015/16 -$20m(*)
So Airport Gross Profit is +$11m(**)

What happens after AECON builds a new Airport and gets all the Revenue?
Gov Revenue in 2015/16 +$ 931m(*)
But Gov will give away Airport Revenue -$ 31m(*)
So new Gov Revenue will be +$ 900m(**)

Gov Spend in 2015/16 -$1,151m(*)
But Gov will no longer have this expense +$ 20m(*)
So new Gov Spend will be -$1,131m(**)

Put it together!
New Gov Revenue after AECON +$ 900m(**)
New Gov Spend after AECON -$1,131m(**)
So Gov DEFICIT after AECON will be -$ 231m(**)

The $231m deficit after the AECON deal will be HIGHER than the $220m that Government had before (and has now).

So Bermuda – all of us taxpayers – will be worse off than before – and now. And this being worse off is going to be the fact in every post-AECON year. This worse situation will last for 10, 15, 25, 30, 35 or however many years are “pulled out of the hat”.

In this Airport scheme, there are two only real arguments.

Argument ONE ….. 1 + 1 = 2 (The ‘numbers’ argument)

Argument TWO …. One + One equals Eleven (The rhetorical argument)

Larry Burchall

By: Toodle-oo

Toodle-oo — Fri, 28 Aug 2015 18:22:55 +0000

Which is EXACTLY what the people who are always starting it want you to feel without recognizing who the ‘children’ really are.

By: Build a Better Bermuda

Build a Better Bermuda — Fri, 28 Aug 2015 18:07:54 +0000

I read the report, I also know it acknowledges the works done by government to create accountability and value. I also know it says that a number of the concerns they highlighted could only be addressed once they reached the stage of negotiations that we are now in. The only real concern that the government cannot fully address, and this is not considered by the report as a gap, is that the sole source does not guarantee VFM, but every Bermudian should know by now that even an open tendering process doesn’t guarantee VFM. In construction the only way to guarantee VFM is with a strong build-to contract, and that is where we are now, a contract that government has employed another independent reviewer to assess its VFM before it is finally signed, as well as that the UK will be vetting it too before it can be signed. In the end, any and all profits from the airport would ultimately be getting sent overseas to pay for a new airport, and the airport is already privatized and the PLP over saw it.
Now, would you like to actually try and counter my statement above, or would you like to regurgitate some more PLP information.

By: Bermyman

Bermyman — Fri, 28 Aug 2015 17:51:36 +0000

Within the next 20 years?

By: Northshore

Northshore — Fri, 28 Aug 2015 17:46:19 +0000

and you get your numbers from??????

By: Northshore

Northshore — Fri, 28 Aug 2015 17:39:59 +0000

Its an embarrassment listening to David Burt blab on about what he does not understand, or pretend not to. As for that other guy , well he`s all over the place I can`t make heads or tails out of what he said!! They are surely crying to the dumb vote!

By: TRUTH

TRUTH — Fri, 28 Aug 2015 17:33:28 +0000

IN a recent poll, the People of Bermuda indicated that they were not in favour of this Airport Deal. The results of the Poll indicated that at least 60 to 75% of the People rejected it. The OBA fight is with the People of Bermuda who rejected this Deal, not the PLP. I as a citizen of Bermuda believe after reading the various reports, that this is not a good deal at present for Bermuda.

By: TRUTH

TRUTH — Fri, 28 Aug 2015 17:30:56 +0000

The “Delottie Report” and What MP Burt and Burchall has highlighted is very significant. It is important that folks read the report, and make their decision based upon what has been outlined. T

The Government OBA must realize the at least 60 to 70% of the People in Bermuda indicated they were not in favour of the AIRPORT DEAL. This matter is a battle with the People of Bermuda and not the PLP.

“All Bermudians should be concerned that a project of this magnitude is being awarded without Aecon having to compete with anyone, without the Bermudian people knowing they are getting value for money, and without regard to the highest standards of ethics and transparency.

“There is a better way, and though the OBA will tell you the only way forward is to privatise the airport, we believe the profits from our airport should stay in Bermuda and not be exported to Minister Richards’ friends in Canada.”

By: Build a Better Bermuda

Build a Better Bermuda — Fri, 28 Aug 2015 17:12:50 +0000

You are actually off on one detail, the runway was recently resurfaced, so we should be good on that for a while.

By: Charlly X

Charlly X — Fri, 28 Aug 2015 17:12:47 +0000

If the Airport makes about $5mill per year ? Multiplying by 30-35 years = $150-$175 mill ya ? And the financial guru B.e.t.R claims it will cost $250- $200 mill to build ? And the Bank of NT Butterfield just gave us a loan for $200 mill ? Why can’t we just make the airport like a wedco or bedc quango ?
The airport is self sufficient yes ? But then again I don’t have a Cristal ball !! Let’s debate the whole thing and come up with a solution collectively as a country . Let’s stop the verbal DIARRHEA shootings n deal with Progress !!!

By: Build a Better Bermuda

Build a Better Bermuda — Fri, 28 Aug 2015 17:11:12 +0000

Somewhere in the middle, usually requires a strong stomach to wade through all the BS to get there though.

By: Build a Better Bermuda

Build a Better Bermuda — Fri, 28 Aug 2015 17:10:44 +0000

Not just that, but is it just me or does it look like their back drop is sagging off the wall in places?

By: Build a Better Bermuda

Build a Better Bermuda — Fri, 28 Aug 2015 17:04:46 +0000

Difference is, that the airport at least generates a small profit margin… the hospital hasn’t. Was like that even before the tender for it was put out, so it was always known by the PLP that the construction bill was going to have to be paid for by the government, because BHB wasn’t going to be able to cover it.

By: Build a Better Bermuda

Build a Better Bermuda — Fri, 28 Aug 2015 17:02:13 +0000

Among the government’s supporting documentation cited in the Delpitte report was a report done for government about the privatization of the airport… wait for it… done under the PLP years

By: Build a Better Bermuda

Build a Better Bermuda — Fri, 28 Aug 2015 16:58:11 +0000

You are correct, Mr. Burt has erred on 2 details, first the new Hospital wing is in fact partially privatized in that the facilities management is a private company, contract to do so as part of the tendering by the PLP. BHB staff are not responsible for the maintenance and up keep of the new new wings systems. BHB only governs the staffing of the hospital, if they want to get anything done, changed or fixed to the physical or technological infrastructure, they need to go through the Facilities Management company.
2nd, the Bermudian people do not have control over the hospitals profits, because the hospital has none, it has been running on government subsidies for decades. It is by default government financed, thus the reason our premiums went up so dramatically this year, the PLP had no vehicle to actually pay for the wing when it was finished.

By: hmmm

hmmm — Fri, 28 Aug 2015 16:57:08 +0000

REVENUE !!!!! That is before expenses !!!!!!!!

Money comes at a cost….the existing airport terminal needs increasing repairs = increasing costs over time.

any new terminal comes with a financing cost.

To build a new airport loans need to occur, whether that be on the books of Canada or ours (well we can’t way to expensive to borrow and make this viable). the lower Canadian borrowing rates make it viable. We can’t get those rates.

This past year the Airport ran at a loss !!!!!!

By: N / A

N / A — Fri, 28 Aug 2015 16:52:57 +0000

If what you are saying is true, then why would he Canadians be interested in getting the contract to build the airport? Are they fine working for free??

By: Mark

Mark — Fri, 28 Aug 2015 16:39:44 +0000

the main issue in my mind is where else are we going to find a contract where the time and money is guaranteed by the Canadian Government so whats the problem with this deal?

By: It's about time!

It's about time! — Fri, 28 Aug 2015 15:57:25 +0000

DAYUM!!!!! What SHE said!!!!!!

By: alsys

alsys — Fri, 28 Aug 2015 15:55:18 +0000

Not only that but these “revenues” that keep being floated around that we are supposedly giving away? Those numbers are based on the projected profits which we will not have unless the airport is upgraded. Right now, as we are operating at a loss and have been for a while, there will be NO profits to give away.

By: Real talk (original)

Real talk (original) — Fri, 28 Aug 2015 15:53:34 +0000

The airport currently generates a small revenue in the areas of $4m… with recent increases to departure tax that will increase to $16m/year? Over 30 years that is almost half a billion dollars.

Politics aside there are questions that need to be asked.

By: alsys

alsys — Fri, 28 Aug 2015 15:53:03 +0000

Isn’t that what was said in the House when Minister Richards was trying to warn about the upcoming recession? The one which then happened and we were caught backfooted as we had failed to listen to him and save? THAT’s the insult you have?

Oh lord, if it wasn’t so serious I would have to laugh.

By: flikel

flikel — Fri, 28 Aug 2015 15:52:59 +0000

I really need help understanding something.

What is wrong with looking at other options for the airport project? What is wrong with soliciting other bids or proposals?

If Aecon/CCC is chosen to be the best of all available options…then let’s crack on with it. But what is the harm with simply ‘shopping around’ first?

By: Bermyman

Bermyman — Fri, 28 Aug 2015 15:42:17 +0000

PLP business acumen assumes that a depreciating asset with significant cost increases expected in upkeep will continue to provide the same very slim profit margins without a huge amount of public money being invested.

If the current airport incurs any significant maintenance requirements over the next 30 year, poof! Goodby that $10m a year profit margin, and we are talking something as simple as a new air traffic control radar, a major failure to plumbing or electrical equipment, resurfacing the runway etc. All of these and many more costs are coming down the pipeline, yet there is no mention of how to deal with these without adding to an already mountainous public debt!

Sometimes we need to accept that things are best left in the hands of those that do know what they are doing, that being the development company and their financiers who are making a direct $250m investment in the Island by undertaking this project.

The PLP Want to delay this as they know it will create jobs, they know it will improve Bermuda. They do not want that! They want failure !

By: Charlly X

Charlly X — Fri, 28 Aug 2015 15:25:44 +0000

Let’s look and Read the facts of the matter !! Take your political preference out of the conversations !! Act like a rabbit n use your ears n eyes ! Don’t put on a hat that is too big ! As it will block your vision and ears !!
If we the people are not being given the right to disseminate the information wholely how can we agree or disagree ? If they are hiding the facts in the shadows . We can only row the boat forward collectively !! As my good friend told me , bless his soul o God , ” time tells all “! Minister Bob doesn’t have a Cristal Ball lol

By: theObserver

theObserver — Fri, 28 Aug 2015 15:08:44 +0000

Well with both sides misleading the public what is the truth?

By: Charlly X

Charlly X — Fri, 28 Aug 2015 14:51:03 +0000

Wow Justin that’s the dumbest thing I’ve read today lol !!!!!

By: Mark

Mark — Fri, 28 Aug 2015 14:27:46 +0000

I think if the OBA said “the sky is blue” the PLP would be up in arms, insisting that “the sky is orange!!!” [Rabble Rabble Rabble]

https://www.youtube.com/watch?v=9gSQg1i_q2g

By: aceboy

aceboy — Fri, 28 Aug 2015 14:20:40 +0000

They still have that tired old “Standing Strong” sign in the background?

You aren’t standing strong, you are lying and bickering.

By: hmmm

hmmm — Fri, 28 Aug 2015 14:18:18 +0000

We are giving away nothing….the airport is currently running at a loss.

Nothing personal , just business.

By: ally oop

ally oop — Fri, 28 Aug 2015 13:59:24 +0000

we know who….you did…..now we’re brooke because offit!