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**QUEEN** » 2012-04-23 12:46

I am not surprised....Mr Walker does not move an inch unless something in it for xxx...having said that, Barbudans are some of the greediest people on the planet, it's always about them and what they can get....Starting from way back with E.B, always with the hand out..!!..it's time they stop that nonsense and do something for love of country and not for love of bank account...The UPP managed to do the same over here in Antigua, their greed and racism are keeping investors away.....I am also packing up and moving on...soon from now Antiguans will be nyaming Lizard and drinking gutter water ...the last to go will be the yellow people ...that is after they have sucked this place dry...and David Shoul and Baldwin Spencer will have to thanked for that.....good riddance..!

**Sandra Tailor** » 2011-10-05 21:33

I worked at the K klub for about a year and the people who owned it could not have been fairer, what the problem is the Barbudan people they are so greedy that's why the island will never progress in anyway. I feel so sorry that the owner of the club as been treated so badly, I no longer live in Barbuda I divorced Lestroy Newton, who works for the coco point hotel, a long time ago the only thing good that came out of this is my 2 sons who I love dearly :-)

I must add Im not Barbudan Im British

**smoky woods** » 2011-09-13 22:10

what a sorry state of affairs that an operation that can give everybody a better lifestyle than they have at the moment was forced to close & still remains closed, if the hurricanes don't kill you the the natives will!!!!!!! another sorry state is half moon bay, if I had a bottomless pit of resources then I would get both resorts open & up & running but sadly I'm not wealthy enough. We could all benfit from 2 great businesses not least the hard working inhabitants of Antigua & Barbuda

**Surcouf** » 2011-08-02 14:12

Looking back pre-K Club, there was nothing but a beautiful beach which is still there. The Mandellis have built and provided over the years a substantial amount of economic assistance and well being to many island residents, they have been a positive force for the island.
They purchased the property and it is theirs since it has been paid for.
(I'm quite certain that it has cost them much more than what the property will be sold for). Some politicians and others are obviously creating a negative buzz for their own financial benefit which in the end will not help anyone on the island but themselves. many islanders would habe been grateful for the assistance and job opportunity the Mandellis gave Trevor Walker, instead his lack of sensitivity and bad manners represent who he is and his character,nothi ng else.
The government should be helping the Mandellis to present their property in the most favorable light, even bringing assistance to new owners in order to have an ongoing successful hotel operation.

**BestHolly24** » 2011-01-18 00:12

The loan are useful for people, which want to organize their company. By the way, that is comfortable to receive a college loan.

**fnpsr** » 2010-11-30 04:53

Hon. Gaston Browne, I am glad to see you participating in the debate. Your input is quite welcome and I would implore you to encourage your colleagues to do likewise. Thank you!!

**naiomi** » 2010-11-30 03:42

This whole matter is an emba**ment to Antigua and Barbuda. When are we going to learn to stop playing politics and use our common sense. This place was bought by this lady and it belongs to her. the only reason the government should be involved is if she owes taxes or owe her employees. I she doesn't owe anyone stay out of her business no matter how long it has been close. If she needs help they could have look for local investors so the place would not have been closed.

**naiomi** » 2010-11-30 03:31

Did the employees of HMB get compensated for all the years they worked there? Did the owner paid them?

**Hon. Gaston Browne** » 2010-11-28 23:44

Is the propsoed acquisition of the K Club yet another speculative acquisition ostensibly in the national interest similar to Half Moon Bay? When the acquisition of Half Moon Bay was debated in Parliament during the ALP's last term in office, I declined commenting since I was not sure that we had a firm buyer for the resort. However, I was satisfied that there were several interested parties including Allen Stanford who had the capacity to acquire and redevelop the property.

A fews later after that resolution, the UPP Government completed the accquisition without any serious prospects of developing and re-open the resort. As a result, they, along with Mr. Perry cotninue to speculate with the property with little or no sucess. In the mean time, there is an intererst liablity of millions of dollars accruing annually.
We should avoid the mistakes of the past and cease these speculative accquisitions which add no value to our economy and the the living standards of our people.
Leave people's private property alone.
Gaston Browne

**Pellucid** » 2010-11-28 20:18

This will serve as a warning to any other foreign investors in Barbuda and Antigua:

No good deed goes unpunished.

**upp future** » 2010-11-28 08:48

Is it true that trevor Walker will be made the new Tourism Minister in the New Year? he is to switch places with Grave Yard John! good luck all Antiguans and Barbudans! The Mortician to switch places with the ATM machine?

**tete** » 2010-11-27 13:31

Some what the owner of K Club is saying is not true, she must tell the whole truth. Mr. Walker's parents help supported him while he was in colledge. Infact he almost got thrown out because of none payment of fees. his parent had to come up with the money to keep him in colledge. Mr. Walker was employed as the planning office for the Barbuda Council. it was during his vocation he went there to work, with an intension to return to the Barbuda Council, his performance was outstanding and Madam coerced him to stay on. It was only when he got involved in politic, that he resign

**tenman** » 2010-11-26 13:20

DC yes your are right but for the school Walker attended it is the same for instate and out of state students. I suspect because its considered a private school. Its more the state schools that have this price difference. (see www.internationalstudent.com/school-search/1256/usa/florida/saint-leo-university

DC » 2010-11-26 13:06

Schools often have higher tuition rates for out-of-state and international students -- sometimes much higher.

DC » 2010-11-26 13:01

It speaks very badly to the character of Mr. Walker that he did not even say thanks to the person who provided his education.

But Mr. Mandelli has to understand that talk about compulsorily acquiring the property may not be an indication of any personal vendetta by Mr. Walker against him. The property is laying vacant, and could be proving employment if operational. It may be as simple as that. Yet I agree that 7 years is much too soon to talk about compulsorily acquiring the property; that would probably would scare some people away.

**tenman** » 2010-11-26 11:18

Interesting, I must say its interesting that you have decided to ignore Perry's statement not simply weeks after but at least a month and a half later that the next step was to work on a detailed development plan. @Interesting there was no development plan for the project by Perry a month and a half later. The Judge was clearly correct in his/her ruling. What I suspect though you never wrote, HMB tried to do was to assert that it should be compensated for plans it had. The strange thing is HMB was given time to implement whatever plans but never moved forward. We had a property sitting in a derelict state since 1995. After stalling for years they now request that the property be based on a value pretending as if their project had been implemented. The board of accesors ruled correctly and their judgment was backed by valuation by at least two other valuations companies (one Miami Based and the other Barbadian based) which came back with a value of between 22 and 23.5 million usd (see http://www.caribarena.com/antigua/antigua-business/business-news/half-moon-bay-worth-undecided-200904242826.html)

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**Interesting** » 2010-11-26 10:46

The government should not be allowed to avoid the payment of fair compensation by saying on the one hand that a development would not be approved (or by not approving it because they don't like the people involved) and then approving the exact same project a few weeks later. That is wrong. The HMB valuation was legit. The method was appropriate and has been used by our government for valuing Guiana Island.

**Interesting** » 2010-11-26 10:42

Tenman my point is that a valuation based on plan that is assumed to be approved is perfectly legitimate. I am saying that the Government's argument which was accepted by the board was that an approved development was purely speculative. Based on this, they argued that the valuation based on a development plan which could only be speculative was improper. I am saying that not accepting the HMB valuation was wrong given the fact that it is a legitimate means of valuing property, and by the fact that a few weeks after the valuation came out (as you noted) the government had approved a similar plan. So, in fact, having a valuation put forward by HMB was not in fact speculative, since it was a similar plan to that which was proposed by HMB.

**tenman** » 2010-11-26 09:58

Note what Perry stated about the development plan:
"“I am committed to partnering with the Government to make this project a demonstration in responsible development and constructive collaboration, and our team looks forward to expediting the detailed master planning of the development and moving the project forward” he said. "
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**tenman** » 2010-11-26 09:57

These are your words "I am saying that valuing property based on its highest and best use - ie. a*suming that a final approved development plan " You then stated earlier "A few weeks after the judgment came out the Government announced the approval of a similar development to one based on the valuation." Interesting don't you see the conflict in your statements? Don't you recall that it took the board of **sors months before they made a judgment? You admitted there was no final approved development plan but you then speculated that one was only announced weeks after the judgment. The valuation was announced Friday, 08 January 2010 (see http://www.caribarena.com/antigua/news/latest/half-moon-bay-decision-in-201001087864.html. ) The announcement by the government of a new project was made Feb 26 2010 http://www.caribarena.com/antigua/news/latest/public-private-partnership-for-hmb-development-201002278440.html
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**Interesting** » 2010-11-26 09:25

No Tenman, I am not suggesting that the Guiana Island project was valued after the Data Tan project. Clearly that never happened. I am saying that valuing property based on its highest and best use - ie. assuming that a final approved development plan (whether or not that development takes place) is a legitimate way of valuing property. It was done as recently as this year with Guiana Island by our very own government to solicit bids for the sale of Guiana Island. So no, I really don't understand what you are saying.

**jlt** » 2010-11-26 08:56

forgot to clarify the the 'trevor walker atm machine' only takes deposits!

**Barbudan** » 2010-11-26 08:56

As much as I understand the point Ms. Mandelli is making, the figures don't add up for Mr. Walker’s tuition. She had to mean EC and not US. The K Club Hotel sits on prime beach land in Barbuda and it does not benefit the people of Barbuda close. Things are tough in Barbuda, all we are asking you to do Ms. Mandelli is open up the resort or sell it! Thank you and happy holidays.

**tenman** » 2010-11-26 08:41

History nope the gentleman went to Saint Leo University, a university I have never heard of before today. I have already posted the current costs.
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**jlt** » 2010-11-26 08:39

wonder what would have happened if the roles were reversed and the italian lady had treated Trevor Walker the way he has treated heri? There is no going around this, it is unacceptable. Trevor Walker is a walking ATM machine in a suit. God help Antigua and Barbuda. All investors are being scared away. Can't think of any investments in this country that have actually made any kind or difference in our economy. Our name is out there and the money people are staying well clear of us. Start saying hello to Guyana #2.

**tenman** » 2010-11-26 08:28

Interesting, you suggest that Guina island was valued based on its value after the Data Tan project, if true can't you see the error in doing such and how truly speculative doing such is? Perhaps you don't know this but the Data Tan project never happened. This project clearly shows why doing such things is a bad idea. The only reason I can see for doing such is if the value would translate into shares in the new entity. You quoted lands at Gallean bay being sold for 20.000 US per sq foot has anyone purchased it? I just checked a local site and saw lands at blue waters going for 15.00 EC or 5.50 USD per sq feet for an acre. Is that area not developed? Does the price not get lower when there is larger tract of land for sale especially in the case of HMB? I recall recently considering purchasing some lands and was told the owner would willingly sell it for a dollar less per sq foot if I woulld buy the entire acre. His reasoning was it would cost him more to subdivide the land and also more hassles in trying to sell smaller pieces
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**History** » 2010-11-26 08:13

ok i could say a lot of things but my one question is what University back in the 80s that you spent 250 000 us to go to. That sounds like Yale or Harvard!!!

**Interesting** » 2010-11-26 07:31

You are way off base here. Valuing a property based on a final approved project is not out of the ordianary. It is used by valuation experts to get to the highest and best use of the property. The very same sort of valuation was done in relation to the Guiana Island project AND was Commissioned by our very own Gov't who scoffed at the HMB valuation. Why is they gov't saying it is perfectly ok for the Guiana Island valuation but not for HMB. And the HMB valuation was not done off of someone else's sweat. The design and concept from beginning to end was actually paid for. Please see the Guiana Island valuation, then come back and tell us why that method was not appropriate for HMB when it is an accepted valuation method used by reputable acounting firms. See Cabinet backs new Guiana Island Project on Caribarena dated June 9, 2010 and the website www.iprantigua.com

**business** » 2010-11-26 07:16

@Tenman. I read your article trying to justify the value of HMB.

You refer to English Harbour land @ $3.50 a foot. ABI recently advertised Galleon Beach in the English newspapers for US$20 a foot! The reason most of the islands of the north coast have a low value is they have no beaches, they are all mangrove, and think about the development costs - no electricity, no water, no sanitation, and all the construction materials to be shipped. They bear no comparison to HMB, and you should know that.

**wadadlichild** » 2010-11-26 06:31

I take personal offense to your use of your word "All"....The rest of your words stung but condemning a whole group of people shocking. Generalizing WoW. I can empathize with your frustrations in doing business in Antigua & Barbuda. That has never been easy for natives or non natives but your statement went a bit far. There are wonderful people all over the world who would strongly disagree with you. I also get the feeling that what you really wanted to say was that All Black Antiguans ect............ Please correct me if I'm wrong.....

**tenman** » 2010-11-26 06:25

@Interesting - what has happened to that project? The article I pointed to from Ian Magic Hughes also pointed out the project will get nowhere. The judge was correct in saying it was speculative. Even if was not speculative, I fail to understand why HMB should receive value from someone else's work. The property should be valued based on how it was in 2007. You seem to be arguing that if you were to sell me a piece of land filled with cassy bush that the market price for the land should not include the fact that the property is in disrepair. In-fact you go further and suggest that the value should be garnered based on the value for the land after I have built my twenty bedroom mansion and 5 infinity pools. Seems to me that idea could be labeled stealing because you wish to benefit from another person's sweat.

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**Dig It** » 2010-11-26 06:07

It's good to see Mariuccia Mandelli really cared about the people of Barbuda, and did everything to ensure that they treated properly, especially, providing college expenses to Trevor Walker'e education. I don't know what went down between Walker and Mandelli, but it seems that the trusted was broken between the two. Yet, they had a business relationship for nine years, in which, Mr. Walker was a manager at K Club. I do hope that he gives us his side of the story without the politics. There is no doubt that Mr. Walker resented Mandelli based on his statements. Personally, I don't like to see investors treated this way because it doesn't look good for the country if we want to attract investors like Mandelli!

**Nemesis** » 2010-11-26 05:01

I am constantly amazed that the ravings of one individual are, somehow, deemed to be the ** ravings of all of Antigua & Barbuda and all of her people. That Mr. Walker is alleged to have engaged in this spectacular act of betrayal does not, I would bet, reflect what most Antiguans would do under similar circumstances. Yet, his further act of betrayal -- by calling for the confiscation of his benefactor's private property (Mr. Walker is clearly no Pip) -- is deemed symptomatic of Antigua and Antiguans in general.

**tenman** » 2010-11-26 04:27

business, I spent some time pointing out based on the selling price for similar properties, why the price for HMB is indeed fair. Let me refer you back to http://www.caribarena.com/antigua/antigua-opinion-articles/ian-magic-hughes/no-half-moon-development-201007039712.html entitled No Half Moon Development Saturday, 03 July 2010 06:55 Ian Magic Hughes

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**Interesting** » 2010-11-26 04:26

Antoher thing that happened at the **sment board was that the judge claimed that the Richard Ellis valuation was based on approval for a project that he considered supposedly pure speculative. And that projects of that fie star level would not be approved. A few weeks after the judgement came out the Government announced the approval of a similar development to one based on the valutaion. Surprise, surprise!! The point is that HMB would have never gotten proper value for that property with hand picked **sors.

**tenman** » 2010-11-26 04:21

interesting - a consitutional motion? What are you talking about? What was the case# who was the judge and if possible what was the date? I really do not see the need for a constitutional motion. As done before what is needed is a court order to force the government to pay and barring that the minister of finance will be held in contempt and may be jailed. APC recently did something similar with APUA (see http://www.caribarena.com/antigua/news/latest/apua-ordered-to-pay-apc-2010110410614.html The Fullers did it for Guiana Island. Perhaps the problem with HMB is that you need proper legal advise or maybe the real issue is not about getting the moneys but sticking it to the government.
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**business** » 2010-11-26 03:51

@Tenman Do you really think $5 a foot is a fair market valuation for HMB? Querard asked for $15 based on an **sment by Richard Ellis, and even that is not excessive for one of the best beachfront locations in the world. The only reason to devalue it is due to the risks involved in investing in Antigua.

**Interesting** » 2010-11-26 03:44

I suggest you go an search the court records. HMB owners have brought a consitutional motion to try and compel payment. In response, the Government has indicated that they have no money to pay. All of this is public record so you can go and see for yourself. So yes, they are taking the additional step to get paid. And talking about the **sment board. Who was on it, a high court judge and a business man BOTH of whom were appointed by the government. HMB owners had one appointee. Seriously, do you think the **sment board would have sided with HMB. What a joke!!!! Of course they sided with the gov't... Doesn't take a genius to figure how that one would have turned out!!!

**fnpsr** » 2010-11-26 03:23

So let me get this straight! Someone spends a large sum of money to educate me. I return to my homeland and did not have the courtesy to call my benefactor to thank her. My benefactor, out of the goodness of her heart, called me to enquire into my well being and learned that I was unemployed, who then offered me a job, with a very high salary. Some years later, I am running for political office and I promise the people if elected, I will take my benefactor’ property and give it to them.

The moral of the story is if I can stick it to someone who invested a large sum of money on me; imagine what I would do to you, who haven’t done a darn thing for me.

I recall some 2000 thousand plus years ago, a man by the name of Judas Iscariot, did a similar thing. This is more than the lack of gratitude, but it is down right avarice!!

“Let ’s fix the little things before we attempt to fix the big things.”

**tenman** » 2010-11-26 03:14

Interesting instead government bailed them out and market value instead became the price for similar properties. Essentially HMB owners will eventually end up getting even more than they wrongly imagined market value to be because of the delay in government paying them (interest charges). Some years ago when a property was desired the owners smartly begged that government compulsory acquire the property. They shrewdly concluded that the formula used by the government in calculating market value would provide them with more moneys than if the property was sold on an open market in an auction like environment. Yes they had to eventually go to court to force the finance minister to pay them but they got paid. Notice how HMB is not taking this step I suspect because they enjoy the idea of the 10% interest charges being accumulated .

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**tenman** » 2010-11-26 02:54

Interesting we have had the HMB property accessed by the board of Board of **sors who found that HMB's idea of market price was wrong. Interesting ask yourself what is market price. for a property in the condition HMB is in and with limited interest in it. Is it not the price at which current investors are willing to pay?

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**Brigette** » 2010-11-26 02:49

I'd like to add my bit since my fellow business men/women are talking. I've been here for a while but can't make an immediate move so easily since my two older children have 2 more years at a university in the US but our move from here is persuaded.

am still hoping for things to get better but i do agree with the comments that my fellow businessmen/wom en have made and in another two years i may move back to the UK.

Antiguans need to wake up and realise that no man is an island.

As Bristel said, "Good Luck," to us.

**Interesting** » 2010-11-26 02:25

The owners of HMB were willing to sell too. But here was the problem, they were not willing to sell for less than market. Stanford thought he could get it for less than market and make tons on it - with the help of our good ALP government. This sort of thing is wrong, no matter which way you look at it. This is why we are in the mess we are in with the HMB property. No investor will invest with all the legal problems associated with that property. The gov't acquired it, but can't do anything with it. How long has that property been closed? We can't see that we are scaring investors by acquiring properties and not paying for them. We are so greedy and want to have everything now now now. Think long term, acquisition is not the answer

**tenman** » 2010-11-26 02:18

Vicnes, though I don't agree with you that the cost is unimportant, I do agree that he should have shown some appreciation. This explains why when you elect some of these persons that they treat most of the people who voted for them like crap and then only show concern when they want your vote again.

**Sickening** » 2010-11-26 02:17

Reading this article and the comments made me feel sick. When will the Antiguan Government learn to stay out of private enterprise. It is not the role of the gov't to engage in private business. They should only create an enabling environment for private business to flourish. What do they hope to accomplish by acquiring K Club. We are still going to have to pay them fair compensation - we don't have the money to do that. Another thing - who do you think will invest millions to only have their property stolen. The K Club will remain closed for years to come because of the almost guaranteed legal wranglings that will follow acquisition. Think lonh term here Antigua - acquisition is NOT the answer for every investment that goes bad.

**Bristel** » 2010-11-26 01:45

@ Mariuccia Mandelli:

I fully agree with "Amazed." I too am moving - i believe Antigua & Barbuda is becoming more hostile to business people who are not their own and it's sad. I hope to get out of here by mid 2011 and you need to think about it.

The people truly don't even like their own Caribbean people. They talk them down, use them, then kick them out. We are not easily kicked out because of our social status and finance but i think you'll agree that we can't keep up playing nice when they are playing so nasty. You would think that once you treat people good/nice, they will (not necessairly treat you the same but) appreciate it and do the work they are paid to do but... I've had enough!

Good luck.

**tenman** » 2010-11-26 01:41

Buzzbomb your idea about a lease in the meantime seems a good idea. again the government needs to just work with the lady and try and help create an environment where potential investors will feel welcomed.

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**Amazed** » 2010-11-26 01:19

All Antiguans & Barbudans are a pack of ungrateful and unthankful people - not to add lazy, nasty and they tear down their own - much less those who come from other countries. Look at the way they treat their fellow Caribbeans... We the investors prove it time and time again... No use talking, i am currently selling out myself. I suggest that we just simply leave them alone. They tear each other down anyway, so they're self-destruct.

**Vicnes** » 2010-11-26 00:49

The fact that the owner spent her money to give him a good education and he never even "thank" her, shows that he is an ungrateful SOB. Isn't this the same Walker that was once fired by Bird for misappropriatin g funds?

Ian

**Buzzbomb** » 2010-11-26 00:30

I was always told there are three sides to every story: your side, my side, and the cold dark truth. So I guess we'll have to wait for Trevor to re** till we at least get two sides.

Why not lease the property to an operator like Rosewood who runs Jumby Bay? Most hotel chains have long been getting out of the real estate business and are simply operators of privately owned properties. At least this will keep the property active, maintain it's value and reduce deterioration of the of the physical plant until you find a buyer.

**tenamn** » 2010-11-26 00:22

Tuition alone is 17,500 not 7500 (i left out the 1)

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**Morris** » 2010-11-26 00:22

Then I concede that the owner have a lot more explaining to do.

**tenamn** » 2010-11-26 00:13

Morris the only thing the price I quoted did not include was travel between Barbuda and the USA here is the breakdown from the url I provided:
Tuiti on7,500
Student Activity Fee350
Orientat ion Fee300
Books1,2 00
Room5,811
Fo od4,264
Transpo rtation1,100
Pe rsonal1,330
Tot al Cost of Attendance31,85 5

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**Morris** » 2010-11-25 23:53

Initially, I thought the same thing about tuition cost, but realized it is possible if travel, room & board, dining, transportation, and miscellaneous personal expenditures (entertainment, clothing, etc) are factored in. That is why I said if the allegations are true. It would be worthwhile hearing the re**al.

**tenman** » 2010-11-25 23:43

Unlike HMB, I see no reason to try to compulsory acquire this property. The lady has stated her willingness to sell, so the way forward would be to help her to find buyers. If the plan is for government to acquire and then try at first to run to hotel, let me suggest this is a bad idea because of the governments bad management track record. A good example of government's idea of management can be seen in Barbuda where the government workers have only now been told that if they do not show up for work, they won't get paid.

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**tenman** » 2010-11-25 23:25

Walker attended the Saint Leo University www.caribbeanelections.com/antigua/candidates/upp/Trevor_Walker.asp over 15 years ago, the current cost for tuition a year is 32 K usd www.saintleo.edu/Financial-Aid/Cost-of-Attendance/University-Campus/2010-2011-Academic-Year/University-Campus-Resident, meaning the total cost for a 4 year degree is no more than 128K. Considering he attended some 15 years ago, the cost would have been about half of that, therefore around 65K usd. Its safe to conclude that either the Kay club owner is not being truthful or the moneys went to more than just Mr. Walkers education.
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**Verity** » 2010-11-25 22:39

Investment infrastructure anyone? People who have money to invest, do do their homework.

**Morris** » 2010-11-25 21:20

If the allegations in this letter are true, then Mr. Walker is an ungrateful individual. I hope they understand that their actions speak louder than their words, and the world is watching.

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