FNM Responds to More Bogus PLP "Facts"

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066957600<<< Hubert Ingraham, Leader of the FNM

Nassau, Bahamas — Once again the PLP, in a desperate attempt to gain political brownie points on the suffering caused by the current economic crisis, is peddling bogus “facts” while trying to create a false impression.

Their Chairman claims that the economic recession was “augmented” by what they call the “stop, review and cancel policy” of the FNM Government on taking office in May 2007.

They further claim that the financial crisis occurred in August 2008, “a full 15 months after the FNM came to power.”

These are the real facts:

  1. The U.S. National Bureau of Economic Research, in a statement issued on 1 December, 2008, concluded that the recession in the United States of America started in December, 2007, a mere seven months after the FNM was returned to office.
  2. In the midst of the onset of the U.S. economic recession, there was the massive upsurge in the price of gasoline worldwide in March 2008 which exacerbated the impact of the recession. This led to the job losses and mortgage foreclosures throughout the USA which brought on the worldwide financial crisis later that year.

The fact is that virtually from the first months of the new FNM administration the United States and worldwide economy was already on a collision course with the global recession and international financial calamity which now afflicts every major country and, most particularly, the United States of America, the source of the vast majority of our tourists and foreign direct investors.

The FNM did not stop, review or cancel the Ginn Project in West Grand Bahama, but where are the thousands of sky-scraper condominiums, second homes for high net worth individuals, marinas and restaurants promised by the PLP?

The FNM did not stop, review or cancel the I-Group project in Mayaguana, but where are all the thousands of mansions, condominiums, golf courses and boutique hotels that were promised by the PLP?

The FNM did not stop, review or cancel the South Ocean Hotel acquisition and re-development, but where is that re-development promised by the PLP and why has the hotel not re-opened?

The FNM did not stop, review or cancel the acquisition of the distressed Royal Oasis hotel properties in Freeport, but where is the redevelopment promised by the PLP and why has the hotel not re-opened?

The FNM did not stop, review or cancel the Rose Island project, but where are the boutique hotel, sheltered in-land marina, and mansions owned by the rich and famous?

The FNM did not stop, review or cancel the Bahamar project and, in fact hammered home the Revised Heads of Agreement of a project which was much touted by the Christie administration, but never finalized. Where, now, are the promised name-brand, five star hotels, expanded casino, Marina, re-configured golf course, relocated roads and condos for high net worth individuals?

Not one of these investors ever felt the need to make any “pleas to allow the continuation of their projects” to the FNM Government.

Further, each of these foreign investments, which were flag-ship election promises by the PLP, has floundered, if not ground to a halt, due to the global economic recession and financial crisis.

Each of these projects depended upon wealthy, confident and adventurous American consumers who were willing to buy second homes or condominiums in The Bahamas; many of whom have now either lost, or are struggling desperately to save, their own first homes in the USA these days.

4 COMMENTS

  1. More PLP ignorance.

    What is “full employment” in MAYAGUANA? WHOOPDEE-DO! Meanwhile managers and business owners are begging for jobs as DISHWASHERS in Freeport.

    The PLP is known worldwide for corruption and signing away documents that make no sense for the country. Either they do it because it sounds good and no one has time to do the real research, or because they are getting a cut. The environment, the poor working Bahamian, the country, the future left for future Bahamians, none of this matters when the INDIVIDUAL PLP can get a hand-out or bribe or whatever name they call it.

    No one can do anything in this economy. The FNM cannot be blamed for the WORLDWIDE recession that has drastically affected even major world power countries like the US. To even infer otherwise comes across as simply a desperate attempt to make something out of nothing. Meanwhile, maybe more time should be put into how to make a dollar out of the measly 10 cents currently being hustled around this country.

    Say Mayaguana. HAHAHA what a straw to grasp at.

  2. “Not one of these investors ever felt the need to make any “pleas to allow the continuation of their projects” to the FNM Government”.

    A ridiculous statement as upon taking office the FNM Govt, showed investors that they were not interested in any heads of agreements signed by the former Govt.The displaced Chairman Ferguson was all over the airwaves bragging about what they were doing.Any investor would have been too alarmed to approach these misfits as they would have listened and seen what they were doing to the Straw Market and other projects. No matter how hard they try the FNM Govt will never convince any thinking Bahamaian that they have not caused this country to punish beacuse of their stupid policy of Stop,Review cancel and victimise.And by the way am not Chairman of the PLP or any other entity and was only asking and responding to suggestions made by bahamasyouth.BP the Govt. is monitoring this site as their surrogates are telling them about the discusssions here that expose their mis governance.Stop talking nonsense and admit that like every so called decisive decision made by PAPA the maximum hurt was intended.

  3. OK.. kevin… you want to see me the broklyn bridge now… How much you charging… 10% as plps usually get…

    JOKES for years…

  4. The FNM knows the SOUTH OCEAN HOTEL IS A PART OF THE ALBANY DEVELOPMENT.Indeed the Albany developers TOLD the government that they will NOT PUT A DIME IN THE GROUND UNTIL THEY HAVE ALL OF THEIR APPROVALS.Albany only did this because the government STALLED their development for almost one year.As for the I-GROUP mr.SCOTT from the Hotel Corporation stated that government’s FAILURE in granting FUEL AND HEAVY EQUIPMENT concessions SLOWED THIS DEVELOPMENT.By the way why didn’t the prime minister reveal that the Albany Group EMPLOYS more than 700 persons and the I-GROUP HAS CAUSED FULL EMPLOYMENT IN MAYAGUANA.

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