Posted on 06/26/2017 11:59:50 AM PDT by cll
Puerto Rico has no cash and can’t borrow money anymore. So it is looking to sell itself off in parts.
The troubled U.S. territory is preparing to seek bids in coming months from private companies willing to operate or improve seaports, regional airports, water meters, student housing, traffic-fine collections, parking spaces and a passenger ferry, according to a government presentation reviewed by The Wall Street Journal.
The goal is to attract more than $500 million in investment starting this summer, according to a spokesman for the Puerto Rico Public-Private Partnerships Authority. Future possibilities include the island’s power utility, water and sewer system and waste management, according to presentations made in April to private investors.
Puerto Rico officials haven’t disclosed exactly how they plan to use any proceeds. The government currently needs cash to pay down debt, run operations and for other purposes.
(Excerpt) Read more at wsj.com ...
It’s like Sears - what do you do when you run out of things to sell?
Zero. The US Navy owned that land. The Kingdom of Spain signed it off to the US federal government in the Treaty of Paris of 1898 (along with the rest of all public lands in Puerto Rico).
Median IQ 87.
Yeah, you keep saying that. Jealous?
“Nothing down...just take up payments.”
I was on Tortola in the British Virgin Islands a few years back. I asked one of the locals why the BVI’s were so successful and the USVI/PR had such a lower standard of living. He stated that PR and the USVI were the only places in the Caribbean that you could go on welfare. It drew that type of person to those places. Everywhere else in the Caribbean if you want to eat, you have to work.
Wow. That's good.
I used to work with some Puerto Ricans and I used to tease them that Puerto Rico is "The Lone Star State".
To think I have such a devoted reader.
Just trying to inject a little reality. The Third World is third for a reason, and it isn’t exploitation by capitalists.
Why is Puerto Rico a territory anyway? Did McKinley lose a bet?
Lots of US mainland vacationers still spend weeks in San Juan and nearby.
We vacationed at a small ocean front house about 90 minutes from the airport.
We visited the big radio telescope, the massive cave complex and several swimming beaches away from the pounding surf.
PR is one hour time zone past New York. TV is via NY stations mostly. Radio is all Spanish.
Great weather over Christmas. Shopping at the same stores as the US, but you’d better have a working knowledge of Spanish since not many folks outside the capital speak English.
They were so cocky when it came to kicking out the military. They lost their PX privileges and their jobs. They lost that stability in their economy.
Should have reined in their politicians.
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