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edinnopolo
Nomad
Posts: 138
Registered: 5-1-2005
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Mood: laid back
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Loreto Bay
Apparently nobody paid any attention to my post in Loreto Construction about Loreto Bay being finished by popular rumour.
Well, just got the info. that the homeowners have been notified that LB is "NO"" more and Citigroup has taken over. According to my info. they will
complete the already sold homes.
Of course one of the big questions is going to be what will be done about the beach club and amenities, which were included in the purchase price, as
I understand.
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edinnopolo
Nomad
Posts: 138
Registered: 5-1-2005
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Mood: laid back
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Also, supposedly in the letter to the owners, Air Alaska's contract with Loreto's Airport is up in 3 months and will not be renewed. OUCH !!! 
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jerry
Super Nomad
Posts: 1354
Registered: 10-10-2003
Location: loreto
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is this for real?? why would citigroup be telling LB home owners about alaska airs intention??
jerry and judi
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edinnopolo
Nomad
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Jerry,
Just relaying the info. I received from friends in town. Real Estate people. For the rest, I know as much as you do. But, like you know, always lots
of substance to those kind of tales. 
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vandenberg
Elite Nomad
Posts: 5118
Registered: 6-21-2005
Location: Nopolo
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Mood: mellow
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Loreto in mourning.
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oldhippie
Banned
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Registered: 6-25-2006
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Ed, I read your earlier post and thought it was a joke. If it's true, oh happy days!!! I've read they have sold 750 units, far cry from the 5000 King
Butterbrains was planning.
Please let it be true, I can't wait to find out what scam those liars were trying to pull off.
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oldhippie
Banned
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| Quote: | Originally posted by jerry
is this for real?? why would citigroup be telling LB home owners about alaska airs intention?? |
Loreto Bay was subsidizing Alaska airlines flights.
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jerry
Super Nomad
Posts: 1354
Registered: 10-10-2003
Location: loreto
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it said alaskas contract with loreto Airport is up and will not be renewded doesnt say its contract with LB is up??
jerry and judi
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bajajudy
Elite Nomad
Posts: 6886
Registered: 10-4-2004
Location: San Jose del Cabo,BCS
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Where does this leave the people who have bought there?
Is citigroup only going to finish the homes already started? No plans to complete the project?
I am sorry for the people who bought there if they are hung out to dry.
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Bajaboy
Ultra Nomad
Posts: 4375
Registered: 10-9-2003
Location: Bahia Asuncion, BCS, Mexico
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ALASKA AIRLINES FILES TO SERVE LORETO, MEXICO IN PARTNERSHIP
WITH LEADING DEVELOPER LORETO BAY COMPANY
SEATTLE (October 19, 2004) — Alaska Airlines today announced it has applied for authority to provide nonstop service from Los Angeles to Loreto,
Mexico. The service will be supported by a marketing partnership with The Loreto Bay Company. The twice-weekly flights will begin February 17, 2005,
pending U.S. Department of Transportation approval.
Located on the Sea of Cortez side of Mexico’s Baja Peninsula about 150 miles north of La Paz, Loreto is one of five areas (the others being Cancun,
Cabo San Lucas, Huatulco and Ixtapa) identified by FONATUR, Mexico's tourist development agency, as prime tourism growth sites in Mexico. FONATUR
selected The Loreto Bay Company as the primary developer of the destination.
“We are pleased to be partnering with The Loreto Bay Company to develop air service to Loreto in conjunction with the resort’s development,” said
Gregg Saretsky, Alaska's executive vice president of marketing and planning. “Our customers will be able to enjoy the warmth and uniqueness of a
charming Mexico resort within same-day service from California, the Pacific Northwest, Alaska and western Canada.”
Loreto is a seaside village sandwiched between the Sierra de la Giganta Mountains and the cobalt blue Sea of Cortez. Steeped in colonial history as
the site of Mexico’s first mission, Loreto is renowned for its marina, fishing, water sports, pristine beaches and authentic cuisine.
The proposed flights will operate Sundays and Thursdays. They will depart Los Angeles at 11:10 a.m. and arrive in Loreto at 1:59 p.m. Return flights
will depart Loreto at 4:00 p.m. and arrive in Los Angeles at 4:55 p.m. Alaska plans to use MD-80 series aircraft on the route--seating 12 in first
class and 128 in the main cabin.
Loreto will be Alaska Airlines’ eighth destination in Mexico. Alaska currently serves Mazatlan, Puerto Vallarta, Los Cabos, Ixtapa/Zihuatanejo,
Manzanillo/Costa Alegre, Cancun and Guadalajara. Alaska Airlines Vacations plans to offer a complete range of vacation packages to Loreto.
Alaska and its sister carrier, Horizon Air, together serve more than 80 cities in Alaska, the Lower 48, Canada and Mexico. Upon government approval,
reservations and vacations to Loreto may be found at www.alaskaair.com. For more news and information, visit the Alaska Airlines Newsroom on the Internet at http://newsroom.alaskaair.com.
The Loreto Bay Company, a Canadian American corporation headquartered in Scottsdale Arizona, is developing The Villages of Loreto Bay, a series of
seaside villages built on 8,000 acres in the foothills near Loreto. For more news and information visit www.loretobay.com.
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oldhippie
Banned
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Registered: 6-25-2006
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Notice that the broker license (CO547643000) status is inactive:
http://services.azre.gov/publicdatabase/DetailEntity.aspx?Id...
The broker at the address is: Edwin J. Ricketts
http://www.loretobay.com/cms/page1724.cfm
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Bajaboy
Ultra Nomad
Posts: 4375
Registered: 10-9-2003
Location: Bahia Asuncion, BCS, Mexico
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Tuesday, July 31st, 2007
Horizon Air wants to fly south of the border
Posted by John Gillie @ 05:22:22 pm
Sea-Tac-based Horizon Air has applied to the Mexican government for its first route to Mexico.
The regional airline has asked permission to fly between Los Angeles and Loreto on the Baja Peninsula.
Horizon is contemplating flying the route using its Bombardier CRJ-70 jets, said Horizon spokeswoman Jen Boyer.
Horizon's sister airliner, Alaska Airlines, pioneered the route from LA to the small Mexican town on the Gulf of Cortes. Under a plan Horizon is
considering, it would fly its 70-seat jets to Loreto on days when demand is too light for Alaska's 737s.
Meanwhile, the federal Department of Transportation has issued Alaska Airlines a certificate of convenience to carry passengers and cargo to and from
American Samoa.
Don't count on buying an Alaska ticket soon to the far South Seas. Alaska was among 20 airlines granted that permission.
http://blogs.thenewstribune.com/business/2007/07/31/horizon_...
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Hook
Elite Nomad
Posts: 9010
Registered: 3-13-2004
Location: Sonora
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WOW...........if true, this is HUGE!!!! The ripples on the Baja real estate pond could be significant.
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jerry
Super Nomad
Posts: 1354
Registered: 10-10-2003
Location: loreto
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thanks for the info Bajaboy
jerry and judi
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rhintransit
Super Nomad
Posts: 1588
Registered: 9-4-2006
Location: Loreto
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thanks for the info. can this really be true? so soon I mean? amazing. another great notion...the old Mexican way.
anybody tell CaptMike about this? quote: "I really don't understand all the expats complaining about this project when as far as i can tell no one
b-tching has lost any money yet as a direct result of buying a home there." maybe none of the Cassandras of the Nomad board has lost money, but we
have compassion for those taken in by the real sharks of Baja.
reality\'s never been of much use out here...
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vandenberg
Elite Nomad
Posts: 5118
Registered: 6-21-2005
Location: Nopolo
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Mood: mellow
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Just got a hold of a copy of the letter to the homeowners.
Mainly in typical bullsh#t Loreto Bay speak. Butterfly, the " hands on " sustainable garbage sprouter, is no more. Probably off to his next failure,
to add to his accomplishments, with his common condo complex, which "adorns" Victoria harbor the highlight.
The other hotshots are now absorbed in the big one, Citigroup, to spout some more of their nonsense to the gullible..One of my Loreto Friends is
supposed to post the complete letter.
So, more to come.
Don't forget, you heard it here first folks.
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Petunia
Newbie
Posts: 5
Registered: 7-25-2005
Location: Loreto Baja
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Loreto Bay latest news
Just received from a friend: letter send to all homeowner/investor of Loreto Bay. I will not copy the intire text, a lot of Blah! Blah! but send the
most interesting parts.
Sept 24, 2007
A series of recent developments have taken place within Loretp Bay Company that we would like to share with each of you, as valued home owners.
Changes made along the way have been intended to best serve individuals, like you, who have made substantial investments in, and remain dedicated to,
our community's vision for the future.
In order to achieve those goals and accomodate appropriate development timelines, Loreto Bay's current partner, Citygroup Property Investor, has made
a commitment to become the majority owner in the project and, in turn, will provide the capital and resources needed to successfully develop Loreto
Bay. CPI clearly is poised to support the long term vision for Loreto Bay, and remains dedicated to the project, as well as its clear commitment to
sustainable development.
In addition to announcing CPI's commitment to assume an expanded role in the project, we would like to share news concerning the company's executive
management team. While he will remain a consultant to the company, David Butterfield will be stepping down as a "hand on" chairman. David's vision
has been an important driving force behind Loreto Bay and he will continue to play a valuable role moving forward. Jim Grogan and Tom Nolan have
agreed to remain on board and continue to work with CPI on a variety of key initiative. In addition to working diligently, Jim and Tom will be
working closely with CPI to bring long envisioned community amenities to fruition, and further refine plans for the community future phases, while
also helping to ensure our commitment to sustainable development is consistantly maintain.
Finally, in addition to the duties outlined above, Jim Grogan will also serve as interim president of Loreto Bay's costum home division.
Peter Wardle will pursued other opportunities outside the company.
In the coming days, many of you will receive additional correspondence from specific department within the Company that will provide further detail
concerning Costum Homes, Village Homes and other areas with which you may be directly involved. In the meantime, if you should have any questions
concerning the information provided in this letter, please contact Jim Grogan in our Scottdale office.
We appreciate your continued support of Loreto Bay and look forward to sharing many years of future success.
Sincerely
Loreto Bay Company
OK! CPI is left holding the bag! Now we just have to wait to see how this will effect Loreto.
Petunia
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oldhippie
Banned
Posts: 742
Registered: 6-25-2006
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The plot thickens:
SDE Business Partnering to Provide MRO Services for Loreto Bay Sustainable Development Project
http://tinyurl.com/2fc2ke
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Minnow
Banned
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Registered: 8-30-2002
Location: Lost Wages
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Mood: Embarrased Harry Reid is a Nevadan
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The flags go up when you see citygroup. Defiantly a play on Citigroup. Intended to deceive potential investors.
Proud husband of a legal immigrant.
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backninedan
Senior Nomad
Posts: 865
Registered: 3-8-2003
Location: Loreto
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Very interesting are the sound alike companies of "Citigroup" and the actual buyer "Citygroup." Time to google citygroup to find out just who they
are.
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