Skip to comments.CRUISE LINER EXEC WRITES SCATHING LETTER TO OBAMA OVER NEW REGULATIONS
Posted on 10/08/2012 7:58:01 PM PDT by barmag25
The most common complaints by business-owners against the current administration tend to revolve around the economic uncertainty and increased regulation that have made it next to impossible to plan for the future.
Stephanie Gallagher, the president of World City America Inc., is lending her voice to the fray after the Obama administration reportedly moved to prevent American cruise liners from being eligible to get the long-term financing under Title XI that make building something as massive as a cruise ship possible.
As Royal Caribbean acquires its third Oasis-class ship from Finland, Gallagher writes that World City America has invested over a decade and $60 million in designing a superior product that would be built in America, by Americans, and paying taxes to the U.S. government.
Having demonstrated that our plan would be economically sound, would not cost the taxpayers anything, would not increase the debt but would improve the deficit, the only way to push us off the cliff was to enact policy that preempted the nations ship financing program from being used to build cruise ships. Thats what the Obama Administration did, Gallagher claims.
(Excerpt) Read more at theblaze.com ...
That's what Obama does best, destroy American capitalism.
Well, since the recent disaster of Titanic (in 1997, I think, the horrible thing with the horrible song happened), additional regulation may be required and will be popular among viewers.
Who outside of conservative websites will ever see this? Or care? After all, he didn’t build that.
Sorry, SHE didn’t build that...
Before knees jerk too hard, it should be noted that this company wants GOVERNMENT loan guarantees. Nobody’s stopping them from finding financing on their own.
I dunno. Maybe the stopped clock is right this once. Why should the US government guarantee loans for a privately owned cruise-ship? It isn’t really private financing if the government guarantees it. How is this different from Solyndra or Fannie Mae?
Exactly. He wants to sink the whole darn country and will if he gets another four. That said... that is one butt-ugly ship!
” - - - Stephanie Gallagher, the president of World City America Inc., is lending her voice to the fray after the Obama administration reportedly moved to prevent American cruise liners from being eligible - - - “
Uh-oh! Women are starting to challenge Obama - - - . Better call in Women’s Expert Fluke!
The ship sank in 1912.
In 1955 Walter Lord wrote the definitive book detailing the sinking and the stories of the survivors and those who were lost.
In 1958 Lord's book was made into a movie.
Forget DiCaprico, et al. Read the book, watch the movie. Then you'll know what really happened on that cold night so long ago.
Will the banks be punished for loaning money to a non-approved, non-Obama donating company????
Obama must believe that, since slaves were brought to America on a ship, the shipping industry must surely have racist roots and must be punished.
The question I always ask myself when reading these types of stories is how many of these people who are now “seeing the light” voted for the kenyan the first time around?
Dunno- she’s saying federally guaranteed loans for shipbuilding aren’t available for cruise ships.
I’m not a big fan of federally underwritten loans, but I could see their place in a wartime scenario getting merchant vessels funded as germane to the national security interest. This case, not so much.
If it’s a great investment of no strategic value let the marketplace fund it.
I actually saw him live in a local venue, but he refused to play it, declaring so at the outset. As the note at the link says,
It was "Legend of the U.S.S. Titanic," however, that most listeners bought the LP for, and which would come to overshadow not only the rest of the album, but Brockett's entire career.
Well, you could do worse.
Title XI of the Merchant Marine Act of 1936, as amended, is intended to promote the growth and modernization of the U.S. merchant marine and the Nations shipyards by helping owners of eligible vessels and shipyards obtain long-term financing under terms and conditions that might not otherwise be available.
Due to Obama's handling of the banks . . . seems like now more than ever, tis true.
The program currently has a portfolio of guarantees that covers over $2 billion in loans, and has the funding to expand it to almost $4 billion.
Since 2004, however, Title XI has approved only five applications, with commitments totaling approximately $482 million, compared to an average of 11 approvals per year from fiscal year 1998 through fiscal year 2002.
Admittedly the program seems to be in disarray, but her point is well taken. Instead of fixing, like any typical narcissist, instead of fixing the problem he chooses to PICK and CHOOSE programs that his supporters participate in. Corruption by a different name
I have cruised 2 dozen times and I appreciate the regulation which requires the ship to carry enough life boats for ALL passengers & crew. I also like that they are required to hold a emergency drill on 1st day of voyage. I think the recent mishap near Italian coast had neglected to hold the drill. That ship’s captain also took an unauthorized route to wave hello to somebody on the Italian coast.
But why on earth is our government getting involved in loans & subsidies to corporations? Government bureaucrats are some of the most inept people in regards to real world markets.
This is punishment for being non union. Companies that build ships that are part of SIU which is afl-cio they get special government handout loans.
I have taken a few cruises myself.