Editorial for 05 February: Nothing to show for $2 million

If the story on Page 1 of today’s Caymanian Compass
concerning a cruise berthing pier wasn’t so serious it would be laughable.

Someone, somewhere has managed to misplace $2 million worth
of intellectual property.

It is a known fact that the Cayman Islands paid $2,093,750
to GLF for terminating its contract to build the berthing facility.

According to the settlement agreement, which was signed in
November 2011, the intellectual property in question included: “architectural
and/or design documents, geotechnical studies, internal alternative studies, or
phasing studies or engineering documents associated with construction means and
methods submitted by GLF to the Government and/or PACI [Port Authority Cayman

We were assured by then-Premier McKeeva Bush that we would
get our money back by selling our intellectual property in the future to some
other construction company that was to build the berthing facility.

It was his hope, we assume, to sell the intellectual
property to China Harbour Engineering Company. But plans to use that company to
build a port were nixed by the UK government because it did not adhere to
proper procurement practices.

Now no one in government can show us any proof of what our
$2 million bought.

We have too many problems with our budget to be paying $2
million for nothing.

It reminds one of the story of the Emperor and the New
Clothes. The clothes designers sold the emperor a new suit that was invisible
to those unfit for the positions, stupid or incompetent. When the emperor
paraded before his subjects in his new clothes, a child cried out, “But he
isn’t wearing anything at all!”

Like the emperor, we paid a lot of money for nothing.

Too, no one has come forward to offer to buy our
intellectual property.

As Minister Cline Glidden said recently, “we haven’t been
able to identify exactly what we ended up getting for that payment”.

We hope that the men and women we elect to office in May
will be better stewards of our money.




  1. What we got was another slick story from GCI to remove a decision from the front page of the paper along with the typical action from the last government of no follow up or audit by anyone to see if the citizens were lied to.

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