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Freeport Investors Remain Confident

“The Port Authority is functioning well and [those reports] are not affecting the day to day operations,” Sir Albert told The Bahama Journal.

He recognized that there are “disputes” among some shareholders, but indicated that this was no cause for concern.

“Weメre greeting investors with open arms,” Sir Albert said. “We have not had any concerns from investors.”

Asked whether the Port Authority would be doing anything to promote itself in a positive light, he said he did not see where that kind of public relations was necessary given that “whatメs happening is not affecting the day to day operations.”

Recently, President of the Grand Bahama Chamber of Commerce Dr. Doswell Coakley expressed concerns that reported disputes among Port principals or those closely associated with the company could scare away investors.

While saying that he didnメt wish to respond to Dr. Coakley directly, Sir Albert said this was not true.

Dr. Coakley had raised concerns over reported bickering over the assets of the late Port shareholder, Edward St. George, whose ex-wife, Mary St. George, has laid claim to half his assets.

His daughter, Caroline St. George, who is from another marriage, believes that many of her assets are mixed with her fatherメs, according to her attorney, Damian Gomez.

But the whole affair regarding Mr. St. Georgeメs estate was worsened recently when Caroline St. George reported to Freeport police that her fatherメs late partner, Sir Jack Hayward, had threatened her, a claim Sir Jack quickly denied.

As Dr. Coakley sees it, many licensees are becoming increasingly jittery.

Senator Philip Galanis, who has also raised concerns about the Port Authority, renewed those concerns in a statement released this week.

“There is darkness in Freeport today,” Mr. Galanis said.

“It is unquestionably a time of crisis. There is no use in pretending that it does not exist. To do so would prevent solving the many problems that swirl in our second city. To be in denial about these troubles will impede us from, once again, bringing the magic back to Freeport and restoring hope and optimism to all its residents who deserve a better future.”

Mr. Galanis said, “We need to band together, Freeport licensees, residents, Bahamians everywhere, and work to restore the good name of Freeport so that its future becomes as bright as the rest of our archipelago.”

Meanwhile, former Grand Bahama Port Authority executive Willie Moss is continuing her fight against the company that manages Freeport, as her case is headed to the Industrial Tribunal, The Bahama Journal has confirmed.

But on Tuesday, Sir Albert said while he was aware that the matter had gone before the Labour Board, he did not know that it was going to the Industrial Tribunal.

In the summer, the Port announced that the deputy chairman position held by Mrs. Moss had been made redundant effective July 1.

In making that announcement, Port officials thanked her for her “invaluable contribution.”

But Mrs. Moss was not pleased with the undisclosed settlement, the Journal learnt, and continues to press ahead to try to get a more favourable settlement from the Port Authority.

Since the whole matter emerged, she had been keeping a low profile as the settlement issue remains outstanding.

The termination of Mrs. Moss came two weeks after the Port announced that Executive Vice President Barry Malcolm had “resigned” after more than five years with the GBPA.

At the time, Port CEO Sir Albert said, “It is unfortunate that Mr. Malcolm has tendered his resignation at this time.”

Mr. Malcolmメs resignation from the Port followed the resignation of former Chairman and CEO Julian Francis after only a year, the appointment of Hannes Babak as chairman and the return of Sir Albert as CEO.

Those changes have sparked widespread debate, especially in Grand Bahama, about the effect of those changes and the motivating factors.

News that Mrs. Moss had been terminated after 26 years with the Port was accompanied by reports that there could be further managerial changes. Two Port directors, attorneys Sean McWeeney and Sharon Wilson, also resigned from the company over the summer.

By: Candia Dames, The Bahama Journal

Posted in Uncategorized

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