Thursday, September 4, 2008

"Beating A Dead Horse"....with a golf club!

On August 13th I received a written response to my July 10th offer to buy Crowbush from the Deputy Minister of Tourism and in a nut shell she said they were going to run it for 2008 under an improved strategy and in the fall access whether they were going to be sold or leased. In their words "improve the cash position" whatever that means??? Valerie, I'm going to give you some free advice....you're "beating a dead horse". The courses are losing their shirts... and every day that goes by that Golf Links runs this operation PEI Taxpayers are paying for it... you don't have to wait for the end of October to find out that the number of rounds are down dramatically. Don’t let a bunch of golf academics hoodwink you into believing that your "cash position" has improved because you "wrote off" a bunch of debt that was on the books from the previous administration (that PEI taxpayers are now paying for)... just check the income and you'll find out it's down big-time... I expect this summer alone that the Provincial course have depreciated by at least 20% in value and are only going to get worst... the Premier said “sell, sell, sell” and you should get at it before they are worth nothing…

1 comment:

Mark said...

I think at a minimum that the Province should consider a "lease" or "lease to own" arrangement (and receive upfront payments) to a private party. This would reduce the direct taxpayer burden.

If a proper analysis and business plan is done, then hopefully the venture would be profitable. Success would probably lead to spin-off business for area merchants, thereby generating profits to them, increased tax revenue through sales and hopefully "living wage" employment for Islanders.

Start with one course and see how it goes...