Heard on theMarl Road...
Cayman Airways
... that the Chairman and some Board Membersof the National Flag Carrier, Cayman Airways, are at odds withNCB Consultants, who have been given the assignment to presenta review of the airline .
... that the role of NCB has been extendedto making recommendations for the acquisition of aircraft.
that the Boeing 717 equipment the NCB consultants are pushingfor are really a new model number of the older DC9 manufacturedby McDonnel Douglas, before they merged with Boeing.
... that the package price offered for thethree Cayman Airways' planes to trade-in for the two 717s soughtis $12 million, less than the amount spent for the single 'quickchange' equipment, which cost the airline over $13 million.
The Guardian
(Mathewson) Affair
... that many are wondering if John Mathewson,the former President of Guardian Bank will reveal the name ofthe 'political figure he claimed in a US Senate hearing who triedto bribe him prior to closing down of the bank , during the plannedairing of the popular NBC 60 Minutes' television show.
... and that the broadcast has been delayedfor airing in October or November, because Mr Matheson may nothave yet been interviewed by the producers. It is understood thatthis will take place in the early part of September, with a follow-upinterview to be conducted in Cayman possibly with Government andfinancial industry officials. This follows Mr. Matheson's testimony,which took place earlier this year.
Government's$50 million
loan approved
... that Government got a loan approvalfor $50 million from a consortium of banks to meet its budgetaryshortfall. (When the budget was approved earlier this year, theshortfall was expected to be $55 million, and Government indicatedthat it will be seeking to borrow this amount from financial sources.)
... that with the appreciable drop in registrationof new companies and the falling away of many on the 2000 register;combined with a reported over 35 percent drop in real estate sales,and with less goods being imported - it is projected that theshortfall in revenue this year will more likely to be in the rangeof $80 to $100 million.
... that the downturn in hotel occupancyis also impacting collection of room tax.