Globevest

There’s Something Shady About GlobeVest? We Had NO Idea!

We want to be sure we get this right. Notwithstanding months of public pushback, vehement testimony, reams of documentation – much of it on this very website and other outlets – and hours conversation on the radio airwaves, we are to believe that the Governor, based on an expose written in Monday’s Virgin Island...
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Posted in Globevest, Uncategorized | 126 Comments »

Those “Amendments” To The Sports Complex Bill Had Better Be Good!

We don’t know for sure the size of the FY13 budget deficit. The Government Employees Retirement System is on the verge of collapse. The “interim” agreement with the Hovensa Refinery is still a mystery. But on Monday the Legislature’s Rules Committee is going to consider sending a $30 million+ expense to the full Senate...
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Posted in Globevest | 49 Comments »

$750,000 Parking Lot, $3 Million In Management Fees And $3 Million For “Land Acquisition” Highlight GlobeVest Cost Plan

Maybe the stripes will be painted in gold. That’s the only reason we can come up with to explain the $750,000 that GlobeVest LLC estimated it would cost to construct a parking lot at its proposed sports complex on St. Croix. An October, 2009, letter from GlobeVest CEO James Sutherland to Governor John P. deJongh,...
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Posted in Globevest | 22 Comments »

Why Didn’t They Just Kill The Sports Complex Bill In Committee?

By now we all know that the GlobeVest deal was moved out of the Legislative Committee of Human Services, Parks and Recreation and on to the Rules Committee – but we can’t figure out why. Two voted yes; one voted no; one didn’t vote; and three just didn’t show up. And at the end of...
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Posted in Globevest, Uncategorized | 191 Comments »

GlobeVest Comes Back For Round 2 Before Committee; But Was The Deal Already Struck? The Blog Is Open

GlobeVest Comes Back For Round 2 Before Committee; But Was The Deal Already Struck? The Blog Is Open

They will gather again tonight to pitch the next “public-private” partnership that is going to save the Territory and will only cost us a few more tens of millions of dollars. The Committee on Human Services, Parks and Recreation will hold its second hearing at 6 p.m. on St Thomas to consider a proposed...
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Posted in Globevest, Uncategorized | 161 Comments »

Cost, Commerce And Culture Clash As St. Croix Sports Complex Bill Is Held In Committee

Cost, Commerce And Culture Clash As St. Croix Sports Complex Bill Is Held In Committee

The bloody carcass of the proposed St. Croix Sports Complex was hurled out of the St. Croix legislature at 12:26 a.m. Tuesday, and the prognosis for recovery is not good. After a seven and one half hour hearing that covered everything from finances to emails circulated before the last primary election, the Committee on Human...
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Posted in Globevest, Uncategorized | 151 Comments »

GlobeVest President Sutherland, Other Investor Representatives Join St. Croix Sports Complex Hearing

GlobeVest President Sutherland, Other Investor Representatives Join St. Croix Sports Complex Hearing

At 6 p.m. Monday, the Legislative’s Human Services, Sports and Recreation committee will meet to hear testimony on the  St. Croix Sports Complex, latest “public-private” partnership proposed by the Virgin Islands government. And while not listed on the committee agenda as testifiers, GlobeVest President and CEO James Sutherland and partner John Lehman are currently...
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Posted in Globevest, Uncategorized | 91 Comments »

Agreement Between VI/Globevest Indicates More Cost, Less Public Access Than Spin Doctors Have Revealed

Agreement Between VI/Globevest Indicates More Cost, Less Public Access Than Spin Doctors Have Revealed

Here we go again. It was bad enough reading through the bill sent down by your Governor to the Legislature seeking $25 million in funding for the proposed Sports Complex on St. Croix. But just wait until you dig into the attached Memorandum of Agreement (MOA) that was signed between the Government and GlobeVest-VI...
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Posted in Globevest, Uncategorized | 69 Comments »

GlobeVest Takes Down Website At First Sign Of Public Scrutiny – But Not Before We Captured Their Promo Panel On the Sports Complex (Updated With Feasibility Study)

GlobeVest Takes Down Website At First Sign Of Public Scrutiny – But Not Before We Captured Their Promo Panel On the Sports Complex (Updated With Feasibility Study)

Somebody better tell GlobeVest, LLC that we’re not as dumb as they’ve been led to believe. GlobeVest LLC is the Denver, Colorado based “development group” that burst onto the scene last week as the latest player in a “public private partnership” in the Virgin Islands, in charge of managing a $350 million sports complex...
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Posted in Globevest, Uncategorized | 88 Comments »