Go-Invest Head wants Press Association to investigate Stabroek News report on Buddy’s Hotel sale

Thursday, May 15, 2008

CHIEF Executive Officer of the Guyana Office for Investment (GO-Invest) Mr. Geoffrey Da Silva is seeking the assistance of the Guyana Press Association (GPA) to investigate the recent reports by Stabroek News on the sale of Buddy’s International Hotel.

Da Silva said the reports, one of which was also carried in the other privately-owned Kaieteur News, should be investigated since some of the information contained within were inaccurate.

The Go-Invest Head “seriously questioned” the validity of, in particular, Tuesday’s Page One lead story in the Stabroek News that was headlined: ‘Turk paid US$25M for Buddy’s’ and which carried the ‘byline’ of a Guyana-born journalist, Judy H. Fitzpatrick, living and working in Saint Maarten.

The article was purportedly developed from an interview which the journalist claimed was conducted Monday with the new owner of the Guyanese facility, a Turkish hotelier named Sudi Ozkan and/or his Belarusian wife, Katsiaryna.

The interview was reportedly done at the hotelier’s home in Saint Maarten.

But Da Silva, speaking at a news conference at his Camp and Church Streets office, deemed the report as erroneous and indicated that he would be seeking immediate assistance of the GPA to investigate who conducted the ‘supposed’ interview, when it was done and where.

“I question very seriously who actually did this interview, when it was done, and where it was done. I don’t want to go beyond that at this time. I would like to ask the GPA to investigate it, to find out who is Judy Fitzpatrick in St. Maarten…I do question whether an interview was carried-out with Mr. Ozkan.” , a visibly agitated Da Silva told reporters.

He was adamant that no interview was conducted with the hotelier and that the hotel was not sold for US$25M, but instead US$15M.

Among the “inaccuracies” Da Silva said the article contained was that Mr. Ozkan does not own 10 hotels, but rather in excess of 35 properties in different countries.

The Go-Invest Head also unleashed some scathing criticisms at the Editor-in-Chief/Owner of Stabroek News, Mr. David DeCaires for what he termed “irresponsible journalism”.

He also lamented what he said was an apparent trend of the newspaper of being critical of every any new investment in the country, giving the impression that nothing positive seems to be happening.

It was lamented by the GO-Invest Head that the Stabroek News over the years seems to be bent on reporting the negative side of investments in Guyana despite the necessary information being provided to the newspaper.

“The impression is that nothing much is happening and that anything that is of any positive nature happening in Guyana, it always has to have a negative side. So that Guyanese in Canada and the United States will somehow have an impression that Guyana is a ‘deh’ bad country.”

He emphasized that efforts are ongoing to maintain an enabling environment to attract more investments, pointing to the many investments that are taking place and are in the pipeline.

“The kind of the investment we are getting across the board, in mining, agriculture, tourism, wood sector is significant. 312 projects, US $564M…I gave a pile of those information to Mr. De Caires in October last year but on-to-now Stabroek News has not carried anything,” he lamented. (Wendella Davidson)

Reference Source

According to our local newspaper , the actual purchase price is $ 15 million and an additional $ 10 million will be spent to upgrade the property.

What's the big deal. Somebody screw up big time..

A hotel, for which the governmnet held a lien, was sold for a huge profit..

quote:

Originally posted by Ramakant_p:
What's the big deal. Somebody screw up big time..

A hotel, for which the governmnet held a lien, was sold for a huge profit..

Rama,

Geoffrey DaSilva has to make some noise or else Jagdeo is going to ask him to anyway.

Now, an investigation is definitely needed, but not into the Stabroek or Kaieteur News reports on the sale, but in the manner in which this mafia deal played out.

1. Buddy's and the government signed a deal for Buddy's to build this hotel in time for CWC 2007, and unknown to the public, the deal included government selling Buddy's special state land in the process.

2. Where Buddy's got his start up money from no one knows, but the fact he was caught by the energy authority (O'Lall) with a huge quantity of illegal fuel in his yard could be an indicator he made money smuggling illegal fuel.

3. When Buddy's started encountering problems with financing and the hotel looked like it wasn't going to get done in time for CWC, Jagdeo stepped in with a 130 million dolar loan that Jagdeo promised the nation Buddy's would repay from overseas visitors for cricket.

4. No one knew how Jagdeo arrived at the figure, but cricket came and went and Buddy's had problems repaying the loan. Next we know, a month ago, the government said Buddy's repaid part of the loan (it never said how much) and that a deal was struck for government to recoup the outstanding balance by way of renting out rooms at Buddy's hotel. See how many deals so far?

5. One month after the last deal, Buddy's sells the hotel and makes a profit.

CONCLUSION: I believe Jagdeo has a financial stake in Buddy's hotel deal, thanks to blind and ignorant taxpayers! I say let the people protest until this corrupt crook named Baby Kong gets run out of the country. Then put Janet Jagan on a plane back to Chicago. If the PPP is not worse than the PNC, then I don't want to see what worse looks like.

When dem people get shoot up at Bartica Jagdeo bin dey in NY to meet with businessman to sell the hotel. Last visit to NY when he bin dance up with red skin gal he met with people to sell hotel.He gat big stake in hotel.

By the way, notice how DaSilva is more incensed about the sale figure than about the fact that Jagdeo and Buddy's ripped off taxpayers?

DaSilva for Minister of Rip-offs and Coverups!

DaSilva should tell us who are the investors erecting the Marriott in Kingston on historic state land.

Da Silva........is a honest and hard working guy........he is clean.....no hanky panky business.........but he still have to report the the KING........so this is a part of the music that the Prez like............Press Association is now part of the "Truth Troupe"?

quote:

He was adamant that no interview was conducted with the hotelier and that the hotel was not sold for US$25M, but instead US$15M.

.........

The Go-Invest Head also unleashed some scathing criticisms at the Editor-in-Chief/Owner of Stabroek News, Mr. David DeCaires for what he termed “irresponsible journalism”.

The issue is whether, indeed, the interview actually took place.

Hence, it creates doubts about the validity and purpose of the journalist to craft the article for publication.

The government wants to make the issue about what SN reported, putting the Guyana Press Association on the spot because it angered the government by coming out strongly against the Sharma TV license suspension.

But the real issue is, how can Buddy's turn around and sell his hotel just over one year after the Presidentr rushed to his assistance with TAXPAYERS' MONIES, which Buddy's had problems repaying despite the President's promise he would?

If Bush (US) or Brown (Britain) or Harper (Canada) made such a secret financial deal with a private businessman without making data available to the legislature or the media and the businessman turned around and sold his business for a profit in a year, there would be cries of conspiracy and corruption.

Government helping Buddy's in such a rush manner was supposed to send a message to other Guyanese businessmen/women that government would be there for them if they encounter difficulty trying to establish new businesses.

It is so good when Guyanese can own their businesses, and that is why the sale of the hotel so quickly raises an important question: Was this a MONEY LAUNDERING VENTURE for Buddy's with special help from the President? (Please note the President last year applauded 'a new breed of Guyanese businessmen' who had suddenly come into new found wealth that they were ploughing into business ventures, but no one knew the sources of this new found wealth).

This is what makes the issues more important than about what some reporter wrote for Stabroek News about how much the hotel was sold for and whether there was an actual interview.

Who asked the government to help Buddy's in the first place?

How did the President arrive at the 130-million dolars figure to lend Buddy's?

You also have to remember when the President made the loan to Buddy's he also angrily lashing out at other hotel owners for providing poor quality services, hence his government's refusal to help them out financially to upgrade in time for CWC 2007. He also denied other hotels casino licenses because he wanted gamblers to flock to Buddy's. He discriminated against private hotels on government loans and on the casino issues. THIS IS MORE IMPORTANT THAN AN INTERVIEW THAT EITHER HAPPENED OR DIDN'T HAPPEN!

This message has been edited. Last edited by: Communicator,

quote:

Originally posted by Communicator:

quote:

Originally posted by Ramakant_p:
What's the big deal. Somebody screw up big time..

A hotel, for which the governmnet held a lien, was sold for a huge profit..

Rama,

Geoffrey DaSilva has to make some noise or else Jagdeo is going to ask him to anyway.

Now, an investigation is definitely needed, but not into the Stabroek or Kaieteur News reports on the sale, but in the manner in which this mafia deal played out.

1. Buddy's and the government signed a deal for Buddy's to build this hotel in time for CWC 2007, and unknown to the public, the deal included government selling Buddy's special state land in the process.

2. Where Buddy's got his start up money from no one knows, but the fact he was caught by the energy authority (O'Lall) with a huge quantity of illegal fuel in his yard could be an indicator he made money smuggling illegal fuel.

3. When Buddy's started encountering problems with financing and the hotel looked like it wasn't going to get done in time for CWC, Jagdeo stepped in with a 130 million dolar loan that Jagdeo promised the nation Buddy's would repay from overseas visitors for cricket.

4. No one knew how Jagdeo arrived at the figure, but cricket came and went and Buddy's had problems repaying the loan. Next we know, a month ago, the government said Buddy's repaid part of the loan (it never said how much) and that a deal was struck for government to recoup the outstanding balance by way of renting out rooms at Buddy's hotel. See how many deals so far?

5. One month after the last deal, Buddy's sells the hotel and makes a profit.

CONCLUSION: I believe Jagdeo has a financial stake in Buddy's hotel deal, thanks to blind and ignorant taxpayers! I say let the people protest until this corrupt crook named Baby Kong gets run out of the country. Then put Janet Jagan on a plane back to Chicago. If the PPP is not worse than the PNC, then I don't want to see what worse looks like.

Where ignorance is bliss, it's folly to be wise..

QUOTE]Originally posted by Ramakant_p:

Where ignorance is bliss, it's folly to be wise..[/QUOTE]


Rama,

E-mail the above message to the people of Guyana whose money was used by the President to help Buddy's complete his hotel only to watch Buddy's turn around a year later and sell the hotel. What did taxpayers get out of this investment? What they don't know won't hurt them, right?

quote:

Originally posted by Communicator:
QUOTE]Originally posted by Ramakant_p:

Where ignorance is bliss, it's folly to be wise..

Rama,

E-mail the above message to the people of Guyana whose money was used by the President to help Buddy's complete his hotel only to watch Buddy's turn around a year later and sell the hotel. What did taxpayers get out of this investment? What they don't know won't hurt them, right?[/QUOTE]

The Government will collect their investments and interest. Buddy has alright to sell his business.. he does not need approval of anybody..

quote:

Originally posted by Communicator:
The government wants to make the issue about what SN reported, putting the Guyana Press Association on the spot because it angered the government by coming out strongly against the Sharma TV license suspension.

The Guyana Press Association, similar to any other press association/organization in other countries, has an obligation to investigate a complaint.

Also, the Editor [ Editor-in-Chief ] has an obligation to determine the validity of any article published.

quote:

Originally posted by Communicator:

CONCLUSION: I believe Jagdeo has a financial stake in Buddy's hotel deal, thanks to blind and ignorant taxpayers! I say let the people protest until this corrupt crook named Baby Kong gets run out of the country. Then put Janet Jagan on a plane back to Chicago. If the PPP is not worse than the PNC, then I don't want to see what worse looks like.

Belief and proof are two distinct and different things.