- June 25, 2013 - 12:19
Or, to put it another way: "For whom are we building St. John's?"
- Christopher Chafe
- June 25, 2013 - 09:38
You seem to forget one important factor.....the CORE BUSINESS DISTRICT is located downtown. You also seem to forget that our port is a working port. You also seem to forget that we have a rapidly aging population here and we MUST attract new lucrative industries to lure our educated young people back home from the mainland.
- June 25, 2013 - 09:01
The historic city of St. John's has been completely and naively sacrificed to the oil rodeo. Though the city was understandably completely unprepared for such a maelstrom to be unleashed on an economic backwater in the beginning (despite having more than 2 decades of "advance notice" of what would likely, eventually occur), it was obvious that local government would be required to step up its game, going from 'rec league' hockey to the NHL. And, despite having wasted the more-than two decades of production delays when nothing got done or considered, it still had the time. Critically, the need to recruit and integrate outside advice, from competent, skilled people with actual experience in oil boom dynamics, was "Step One". Nope....just the bye's from the local beer league, thanks! And here we are. When the oil is gone, and the party is over, St. John's will not only be a completely unsustainable venue in which to live, it will stand out as an unsightly blight on a barren landscape. A monument to ignorance, hubris, immediate self-gratification, and greed.
- a business man
- June 26, 2013 - 19:44
Honestly, you are right, but it is nothing new. It is just your typical boom-then-bust cycle. It happens all the time. The key is to have the smarts to see when the bust is coming, and cash out before and leave everyone holding the bag. I plan to sell my some of my rental homes before the bust and then re-buy something similar at a cheaper price after the bust. Someone else can hold the bag on this one. The sad reality is that none of us can do anything to prevent the inevitable bust, so you might as well line your pockets on the way up, and ensure you have liquidate your assets when the town goes bust.