Comments on: Aecon Announce ‘Commercial & Financial Close’

By: What??

What?? — Fri, 17 Mar 2017 17:02:05 +0000

It is true and is in the public domain. See Page 10 of the “Overview of the Airport
Redevelopment Transaction for
Members of Parliament” (it’s available as a pdf – just do a search). A little late to start worrying about the details now isn’t it? Everytime this sort of thing was pointed out the messenger would be called a liar.

By: Joe Bloggs

Joe Bloggs — Fri, 17 Mar 2017 14:43:05 +0000

“we sold our biggest revenue [earner] to a foreign country”

Umm, when were the Hamilton Docks sold and why am I only hearing this now?

By: Joe Bloggs

Joe Bloggs — Fri, 17 Mar 2017 13:02:22 +0000

What is your source for that please?

That is something that should be in the public domain and may lead to public outrage if true.

By: sad day

sad day — Fri, 17 Mar 2017 00:50:04 +0000

we sold our biggest revenue to a foreign country. well done for …. politics! I don’t like either party and both screwed us over. do people just forget that we have been threatened by airlines to leave our country due to high taxes and the new airports about to raise them… how much will our maintenance cost be for this once the company leaves? I bet its more than we can afford… so we will sell the airport again for 30years to keep this one… well done government! hope a independent wins the next election (hopefully with a economics degree) that actually will help this country.

By: What??

What?? — Thu, 16 Mar 2017 20:04:15 +0000

It will now cost you, directly, over $100 per person each time you use the airport.

By: What??

What?? — Thu, 16 Mar 2017 20:01:45 +0000

Of the total money for this project only $70 million is equity. Of that equity, Aecon is only contributing $29 million. In contrast, $100 million of the money over the 3 1/2 years of construction will come from airport revenue. With the minimum revenue guarantee there is zero risk for the equity and bond holders. I’m sure a Bermudian company, or a consortium of Bermudians, could have raised the money given this guarantee.

By: What??

What?? — Thu, 16 Mar 2017 19:53:32 +0000

I’m curious as to how many construction jobs you think this will create?

By: trump supporter

trump supporter — Thu, 16 Mar 2017 18:20:24 +0000

Bloggers be out shortly!

Dislike
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By: Bermyman

Bermyman — Thu, 16 Mar 2017 17:03:15 +0000

This point of view is scary as it shows the lack of understanding that has led to so many issues in Bermuda. Taxes go up to service Debt which the majority of is to keep civil service jobs. The airport on the other hand is a $250m inward investment into Bermuda.

By: Build a Better Bermuda

Build a Better Bermuda — Thu, 16 Mar 2017 16:44:34 +0000

Burt mathematics theorem states that you do not include expenditure, profit sharing or any other valuation that would decrease the possible revenue stream figure, in order to maximize politrick effect.

By: Cranberry

Cranberry — Thu, 16 Mar 2017 16:20:20 +0000

Burt never exaggerates – so its probably $300000000000000000000000.99 Billion (at least)…

By: Cranberry

Cranberry — Thu, 16 Mar 2017 16:19:05 +0000

Ask Barry….
https://www.amazon.co.uk/Probed-Aliens-Lived-Tell-Tale/dp/1905203985

By: Politricks

Politricks — Thu, 16 Mar 2017 15:50:24 +0000

Already reviewed by the COI with no criminal activity identified.

Also, reviewed by the UK Government, Deloitte and the Blue Panel Ribbon.

Sorry, but this isn’t a PLP project.

By: Politricks

Politricks — Thu, 16 Mar 2017 15:49:18 +0000

If you think this is why our taxes are going up, then you truly don’t have a clue.

Want to see why, check out the COI findings to see how our monies were ‘mismanaged’ and contributed to the national deficit and by extension debt. Then check out to see the cost of the civil services.

Then check out the loss of our population since 2007/8 which decreased our tax base.

By: trump supporter

trump supporter — Thu, 16 Mar 2017 15:45:32 +0000

Just think if we had all the money from all those so called overruns, taxes probably wouldn’t need to go up as much!

By: Navin Johnson

Navin Johnson — Thu, 16 Mar 2017 15:41:58 +0000

The good old PLP has handcuffed Bermuda for generations..hopefully they will be brought to justice

By: 297Warriors

297Warriors — Thu, 16 Mar 2017 15:34:40 +0000

Can’t wait to see the new cost that is going to be passed on to the users of the Airport!

Uncle Bob has sold out Bermuda to Canada which they don’t give a fly _ _ _ _ of the average….

Watch how it all unfolds and watch all the people who was for this deal be crying foul!

By: Joe Bloggs

Joe Bloggs — Thu, 16 Mar 2017 15:24:47 +0000

“contract valued at US$274 million”

Umm, I am pretty sure I heard David Burt say yesterday that it was a $2 BILLION project.

Which is it please?

By: bdaboy

bdaboy — Thu, 16 Mar 2017 15:21:41 +0000

“that’s why our taxes are going up. ”

of course, taxes aren’t rising to pay off the $billions in debt that the PLP left us with.

By: Jus' Wonderin'

Jus' Wonderin' — Thu, 16 Mar 2017 15:16:18 +0000

No, taxes are going up because OBA has to payoff the debt somehow…

By: Micro

Micro — Thu, 16 Mar 2017 15:06:14 +0000

It already has been probed extensively.

By: bdaboy

bdaboy — Thu, 16 Mar 2017 15:00:14 +0000

“Another no-bid, no RFP deal,”

Please list the local companies that have, or have access to, the funds required to build this airport.

Or, is your post yet another post revealing that the writer truly doesn’t understand anything about the airport deal, and is neither interested nor capable of comprehending such a deal.

By: sandgrownan

sandgrownan — Thu, 16 Mar 2017 14:52:29 +0000

The reason your taxes are going up is because there’s no money to pay down the debt and the overstuffed (and largely useless) civil service.

So no, you’re wrong.

By: sandgrownan

sandgrownan — Thu, 16 Mar 2017 14:51:22 +0000

Have you read nothing on this?

By: Onion

Onion — Thu, 16 Mar 2017 14:50:38 +0000

It has already been probed and no evidence of criminality was found. There have also been several independent reviews which have independently found that this represents the best value for money.

There are no parallels between the no-bid scandals of the past.

By: Onion

Onion — Thu, 16 Mar 2017 14:45:07 +0000

lol, no.

Your taxes are going up because the government has to pay the interest costs of the debt and deficits created by the PLP.

~$180 million a year in debt service out of the country or ~$1.8 billion a decade. All directly attributable to the PLP and the biggest complaint you can make about the OBA is that they didn’t fix it quickly enough.

By: Curious

Curious — Thu, 16 Mar 2017 14:41:02 +0000

What is hard about this?

The PLP sold out the ENTIRE COUNTRY’S finances by going on a debt fueled spending rampage with little tangible return.

We pay $186m PER YEAR to foreign debtors.

You are complaining that we have sold out our airport, which has an upside revenue of ~$30m per year.

$186m > $30m

Just sayin

By: So Silly

So Silly — Thu, 16 Mar 2017 14:31:41 +0000

Great news, that’s why our taxes are going up. To pay for this company to make a killing on our Asset.

OBA – Selling Bermuda out, one deal at a time!

By: Encyclopedia

Encyclopedia — Thu, 16 Mar 2017 14:01:45 +0000

Another no-bid, no RFP deal, that will be probed in future.

Political parties are willingly going this no RFP route knowing fully well that they will somehow deal with/manage the fallout later.

By: Bob de Builder

Bob de Builder — Thu, 16 Mar 2017 13:57:38 +0000

Great news. Now get those shovels in the ground and let the employment of Bermudians begin.