Volume 7 Issue 18

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WEST CAICOS PROJECT VOLUME 7 - No. 18

www.suntci.com

MAY 6TH - MAY 13TH, 2011

MAY RESTART SOON By Vivian Tyson

Construction of the Ritz Carlton Molasses Reef Resort project in West Caicos which was a casualty of the global financial meltdown could be up and running again in a matter of weeks, should an agreement between the liquidators of Lehman Brothers and a group of interested parties come to an agreement. The project was about 80 percent complete at the time of the work stoppage. Now, at a time when the Turks and Caicos Islands is hungry and thirsty for inward development, the recommencement of the West Caicos project would be a significant boost for the country which relies heavily on tourism and construction for its revenue. The SUN was told that a team of European investors, which has expressed keen interest in the project, has been jetting in and out of the Turks and Caicos on an above average basis seeking to tie up loose ends in order to get the development going once again. In recent months there has been a flurry of activities by interests in the development and almost every day – sometimes twice a day – groups of persons have been seen boating towards and from the island, to inspect the property. Logwood Development is the owner of the project, which was originally financed by the now defunct Lehman Brothers through renowned high-end international investment and development firm – GENCOM. A source close to the project told The SUN that a meeting, which could determine whether or not the project commences soon, was scheduled for the coming days between the new

President Obama visits Ground Zero

President Obama made a solemn pilgrimage to Ground Zero on Thursday May 5th, 2011, where he bowed his head in memory of the thousands killed on 9/11 - and marked the death of their murderer. Obama's first visit as President to the crucible of New York City's pain came just five days after he directed the killing of Osama Bin Laden. The President gave no triumphal speech. Instead, he laid a wreath at the foot of what's come to be called the Survivor Tree, which was scorched in the Sept. 11 attacks and later replanted on hallowed ground. Then, after moment of silence, Obama walked over and shook hands with 14-year-old Payton Wall of Rumson, N.J. The teenager was invited to the ceremony after she wrote the President a poignant letter about how she dealt with the death of her dad, Glen, who worked for Cantor Fitzgerald in the North Tower

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