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ncampion
Super Nomad
Posts: 1238
Registered: 4-15-2006
Location: Loreto
Member Is Offline
Mood: Retired and Loving it
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| Quote: | | and those seas are DEAD, lets not kill ours too. |
Not so at all, in fact the Red Sea is known for its biodversity including excellent diving. It is also noted for its high salinity of about 3.8%.
Do a search, here's a quote:
[edit] Living resources
Red Sea holds one of the most spectacular coastal and marine environments of the world and has a rich biodiversity
The sea is known for its biological characteristics including its rich fauna and flora, particularly coral reefs and numerous fish species has a
number of unique marine habitats, including sea-grass beds, salt-pans, mangroves, coral reefs and salt marshes.
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djh
Senior Nomad
Posts: 936
Registered: 1-2-2005
Location: Earth mostly. Loreto, N. ID, Big Island
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Mood: Mellow fellow, plays a yellow cello...
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Perspective
The gent who lead the human genome mapping project is currently compiling and lecturing on the oceanic genetics research he has been doing since
completing the genome project.
I saw him on NOW with my friend David Brancaccio last friday evening.
I was surprised to learn that - in the sea - every 200 miles, 80% of the resident species are different.
Our oceans are connected, like many of our terrestrial ecosystems, however, we have to look our marine ecosystems differently than we have in the
past.
"The world we have created today as a result of our thinking thus far has problems which cannot be solved by thinking the way we thought when we
created them." (A. Einstein)
Its all just stuff and some numbers.
A day spent sailing isn\'t deducted from one\'s life.
Peace, Love, and Music
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jerry
Super Nomad
Posts: 1354
Registered: 10-10-2003
Location: loreto
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in my opinion there are a whole lot of questions that need to be answered
they need to be answered with facts
not pointed at shutting down developments
not just loreto bay but including the other developments upcoming i feel these will happen no matter what the protest
the facts on desal in the area will have to stand on its own
there still is a tide in the sea of cortez twice a day that flows rather swiftly
in my opinion any problems that have been stated with a desal plant can and will be delt with facts
jerry and judi
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tripledigitken
Ultra Nomad
Posts: 4848
Registered: 9-27-2006
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| Quote: | Originally posted by jerry
in my opinion there are a whole lot of questions that need to be answered
they need to be answered with facts
not pointed at shutting down developments
not just loreto bay but including the other developments upcoming i feel these will happen no matter what the protest
the facts on desal in the area will have to stand on its own
there still is a tide in the sea of cortez twice a day that flows rather swiftly
in my opinion any problems that have been stated with a desal plant can and will be delt with facts |
Jerry,
I hope you're right. I am very concerned from what I am reading regarding Loreto's future. I just don't have any faith in the likes of developers
like Loreto Bay. I think the desal issue in the Sea of Cortez is a unique one, particulary in Loreto coupled with the fact it is adjacent to a Marine
Sanctuary. Developers here in the states are held to rigid environmental laws, not so it seems in Mexico. We would have very few Salt Marshes left
if they were turned loose to US Developers.
For the record I'm not anti development, I have made my living in Construction here in the states.
Ken
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Hook
Elite Nomad
Posts: 9011
Registered: 3-13-2004
Location: Sonora
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Mood: Inquisitive
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Money has trumped facts many times in Mexico, Jerry.
And when the facts finally do surface, the money is long gone.....
[Edited on 3-21-2007 by Hook]
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jerry
Super Nomad
Posts: 1354
Registered: 10-10-2003
Location: loreto
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i dont believe that developers are so stupid that they will shoot them selves in the foot??
everyone knows that its going to take water to develop
that water is only going to come from one place the sea
it does need to be viable for the health of the sea and the comunity
if they destroy the very reason that people want to buy in loreto area there is no development
jerry and judi
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tripledigitken
Ultra Nomad
Posts: 4848
Registered: 9-27-2006
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I think it is a possibility that by the time the problem really surfaces the developer (Loreto Bay) will have gotten their money and they will be off
to a new location, and new opportunities.
I may be wrong here but I thought I had read that Loreto Bay had already sold a portion to a Financial Partner. Somebody help me. If that is true
they have already cashed out significant profits.
I'm not sure that the typical buyer in Loreto Bay is analyzing the source and supply of water before they purchased. If they had, why would they have
bought in the first place, with the apparent smoke and mirrors that we are hearing about.
[Edited on 3-21-2007 by tripledigitken]
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jerry
Super Nomad
Posts: 1354
Registered: 10-10-2003
Location: loreto
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i think LB has citi- bank as a partner
you really think that a bank is going to ignore all the pitfalls of loreto bay?? and throu money at it?? i never found a bank that takes any risk
as a financial partner they are probibly providing financing for the homes only??
jerry and judi
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tripledigitken
Ultra Nomad
Posts: 4848
Registered: 9-27-2006
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Jerry,
Let's revisit this conversation in 2 years. By then it should be apparent whether there is a water problem or not.
As far as Banks not taking risks. Does'nt Sub Prime loans defaults, in the news currently, sit squarely in the laps of the banks. Policies of high
risk loans to first time borrowers, 125% loans, no down payments, questionable appraisals? All at a time of a frothy real estate market with rising
prices. Kind of like Mexico right now? I think so.
just my 2 cents.
[Edited on 3-22-2007 by tripledigitken]
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Phil S
Super Nomad
Posts: 1205
Registered: 10-28-2003
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Mood: After 34 years. Still in love w/ my wife
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Jerry. Citibank took a 90% interest in the hotel purchase. But haven't heard from a "reliable" source of any L.B. ownership. Anyone have a direct
reliable source to confirm or deny this?
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Cypress
Elite Nomad
Posts: 7641
Registered: 3-12-2006
Location: on the bayou
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Mood: undecided
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Looks like "Don Chaos" is making reservations for a visit to Loreto.
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backninedan
Senior Nomad
Posts: 865
Registered: 3-8-2003
Location: Loreto
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Phil, I read the same article concerning citibank, but I guess that doesnt make it a fact.
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jerry
Super Nomad
Posts: 1354
Registered: 10-10-2003
Location: loreto
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tripledigetken
most loans are put together by banks under the rules of the fed then a bunch of the loans are bundeled together and sold to fannymay and other federal
instutions
banks pick up a small%inbetween and risk very little
if its a fact that citibank is only a 90% financer for the hotel that sure isnt a partnership in my book
many times banks loan money to builders and pay on progress payments like foundation15% framing 10% roof 10% and the like this is because the bank
makes money on the loans and gets the oppertunity to supply mortages
for the finished houses if this is what is happening at LB
this is not a partnership perhaps something gets lost in the translation??
jerry and judi
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wilderone
Ultra Nomad
Posts: 3886
Registered: 2-9-2004
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From the Citigroup Property Investors website:
"Citgroup Property Investors is the real estate investment management business of Citigroup, a unit of Citigroup Alternative investments. CPI invests
its clients' capital in private market real estate investment strategies designed with the objective to produce attractive absolute and risk-adjusted
returns in North America, Europe and Asia, along with liquid public market domestic and global real estate securities investment strategies." [and]
"As further described in the offering documents, an investment in alternative investments is specifically not suitable for all investors. Investing
in alternative investments is only intended for experienced sophisticated investors who are willing to bear the high economic risk ...." It then
lists 21 potential risks.
So CPI clients - not necessarily the bank -- (but does state that that there is a "significant alignment of interest" - "co-investment by Citigroup
and senior team members") invests capital that "is co-sponsored and/or co-managed with partners." This is a proprietary, separate account and fund
client capital under management with CPI. Kinda like junk bonds. LB is the one which issued a press release stating they acquired the hotel property
with CPI (where would LB get the capital to purchase it, since the money from the residence sales is used for building the units and paying the
salaries of all the LB staff- including the 6 fulltime staff members (who I suspect are school children) who capture lizards in the path of bulldozers
and release them in an secret area), and that they were going to make improvements and renovations. They bought it from FONATUR who was wise enough to
get rid of that albatross after all these years. So CPI owns a hotel purchased with "client capital", managed by LB.
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jerry
Super Nomad
Posts: 1354
Registered: 10-10-2003
Location: loreto
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simply they hold the mortage on the hotel just like banks do
the rest is smoke and people using the name for statuse??
jerry and judi
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