The Caribbean charter crews and Brokers are congratulating Jonny and Mere on their wedding November 14th!

OK, so the 2008 VICL Boat Show  is in full swing today, and a fairy tail is unfolding before the very eyes of all the crews and the charter Brokers.  A wedding is being planned for the crew of s/y Conundrum - Jonny and Meredith on November 14^th - the day after the VICL Boat Show concludes!!!  What an exciting moment for all of the participants.  Jonny and Mere are two very popular members of the charter Crews and Brokers.

I learned from the ever-smiling Captain of Condundrum  that he grew up around salt water activities his whole life, however he is not an “old salt” yet.  Jonny as lived in the Virgin Islands since he was a teenager, and he has been a sailor for 18 years, and the Captain of several private yachts.  Jonny has the reputation of creating an unforgettable charter vacation experience.  I have heard Jonny say, “My biggest satisfaction is when our guests say at the end of the week, ‘That’s the best vacation we ever had!’ That puts a smile on my face.”

Meredith is from the Midwest.  She grew up in Missouri and has a bachelor’s degree in Communications Studies from Kansas University. Interestingly, prior to becoming a chef, she obtained a Securities Exchange License Series Seven, working for three years with Morgan Stanley out of Santa Ana, California. Thank goodness she changed her profession in 2003.  We would have hated to have her be on the “sinking ship of security firms” during the last six months.  “I really enjoy seeing our guests experience a new environment, and I like to add little touches, like serving specialty drinks or having a themed menu for the day. I’m creating an atmosphere of informal elegance - nice but not stuffy, casual yet stylish. Simply pleasurable - every moment of the day”

Meredith, the bride to be, has years of culinary experience on private and charter yachts, with gourmet specialties in Caribbean, American, and Italian cuisine.  Enjoy a picnic lunch on the beach, lounge with a frozen cocktail in the cockpit as you watch the sun sink to orange with the “green flash”, and then dive into a luscious dinner served in the elegant salon. The perfect ending to a perfect day - and Mere makes it all happen for each of her charter guests.

The sailing yacht Conundrum is where the beautiful design of traditional yachting blends with contemporary conveniences. Their 62-foot sailing yacht, completely re-fitted in 2006, and features the latest in all the high-tech conveniences and simple elegance polished mahogany throughout. And, for they even have 6′6″ headroom for their tall sailing guests.  Go to the s/y Conundrum website for even more details.

More yachts to come and lots more fun awaits the participants as we continue our preview of another unforgettable VICL Boat Show.  This afternoon Sue Maki, the GM of Flagship  will be doing Part 2 of the new Broker training and certification.  The charter yachts are open for viewing until 5PM.   During the lunch event sponsored by Flagship, the Director of Homeland Security, Mel Vanterpool Homeland Security,  will be reviewing the issues his department is facing in the Caribbean.  And, you won’t believe the party that is planned tonight - The Paradise Party at the St. Thomas Sky Ride.  More yachts are yet to be preview…stay tuned!  Your charter yacht detective  is still on duty!

What a night that Director Erik and the Team put together for the Governor’s Reception!

Talk about a party with EVERYONE decked out in their finest “Black & Whites”, tonight was it!  The Andrew Douglas Steel Pan Band was the hit entertainment for the night.  Andrew is from Trinidad, the home of steel pan, and showed us how to play the pans!  The charter yacht suppliers were showing off their best stuff with samples for all to enjoy.  And there was plenty to drink, because thirst is a dangerous thing, expecially within the charter yacht industry.  I think I even remember a few Brokers who were a bit out of shape for the type of parties the Captains and Crews are accustom to.  But, let’s get back to the honored government guests at the event. Lt. Governor Francis, Senator Hill, Commissioner of USVI Tourism Board Nicholson Doty,  Lt. Commander Grant - USCG, and Director Mel Vanterpool of Homeland Security.

It was a night of honoring the charter yacht industry for their contribution the economy of the USVI, and an opportunity to have the elected USVI officials address the issues of how their administration is supporting the growth of tourism and of the charter industry.  Their remarks were focused on the reality that,  “…2008 has been one of the most challenging years for the USVI economy!”   That is an understatement given the hurricanes that touched the Virgin Islands, the issues facing the airlines industry and their proposed cut backs in flights to the Caribbean, and the financial meltdown of the U.S. economy.  It was a time of “straight talk” about what the USVI is facing with Tourism as the foundation of their economy.  However, they also let the audience know what the USVI government is doing to create a healthy Tourist economy, which is critical to the Charter Yacht Industry.  During their remarks, and also during my discussions with Gov. deJongh in past months he has made the following reports regarding how they are addressing the critical issues of supporting a healty tourist economy:

1. Governor John P. deJongh, Jr. has participated in a series of meetings in New York City with investor groups in the past few months that are considering major investments in the Virgin Islands and particularly in St. Croix.  Resorts, industry, and real estate will create more visitors and more jobs.
2. He sent V.I. Tourism Commissioner Beverly Nicholson-Doty to Florida for meetings with her Public/Private Sector Airline Committee and American Airlines.  American was planning to cut 40% of their flights  to the Caribbean on September 1, 2008.  Ms. Doty and her committee met with Peter Dolora from American Airlines and was instructed to not let the meeting end until they committed to reinstate their Winter flights to the Caribbean. The results are that American’s once-a-day flight between Miami and St. Croix will began again on November 2^nd.  The daily flight between New York’s JFK Airport and St. Thomas will resume next week November 20^th, and a second flight will be added on Fridays starting December 18^th.  American’s flight between Boston and St. Thomas will run on a twice-weekly schedule starting November 2^nd, and on December 18^th, it will be back flying five days a week.  This was a BIG result that is requiring a joint advertising and marketing plan with the various USVI tourist industries to be implemented through 2009.
3. The Six-Pak law  is still in effect and Gov. deJongh agrees it needs to be overturned.  He has worked closely with Director Erik of the VICL and Shelly Tucker from s/v ThreeMoons  to present a position paper that can be used with the Federal Government to have this law overturned.  The challenge the Governor has had this year in moving this initiative forward has been the non-stop challenged presented this year as stated above.  All of us know the incredible benefits that the repeal of this law would have within the Charter Yacht industry.  Director Erik and your VICL Board will continue to press for this issue to become a priority.

And…the Governor’s Reception party raged on!  It was another night of fellowship with old friends, and meeting new friends.  The Charter Yacht industry is made up of some of the finest people I have ever met.  Now, back to our berths, and preparing for another day of viewing the charter fleet.  More to come tomorrow with feature articles on many of the yachts and crewmembers attending the show.  Until then…sweet dreams.

The VICL Boat Show Is open, and what a great job the VICL president Erik Ackerson has done to create an unforgettable week for the charter industry!

Erik Ackerson, the Director of the Virgin Island Charter League  has let the world know the red carpet is rolled out for all the attendees for their 34^th Annual Charter Yacht Boat Show  hosted by Yacht Haven Grande  in Charlotte Amalie staring last night!  What an exciting day of meeting the charter yacht Brokerage community from all over the world for this annual reunion of professionals serving the charter vacation needs of those wanting an unforgettable experience in Paradise.  There are over 36 of the finest charter yachts and crews that all arrived at Yacht Haven Grande as they are open each day for viewing by the Brokers as they take notes on their choices of favorite yachts and crews to promote to their sailing vacation customers.

“The quality of attendees and the support of the local marine community at the VICL Boat Show continues to be outstanding”, said Erik Ackerson, Director of VICL. “With the steady flow of qualified yacht charter Brokers, attendance is beyond what we hoped for with ample room to grow in the coming years with our expanding membership.”  The Director of VICL further commented,  “This event proved very productive for us and confirmed the excitement of the community and the industry regarding crewed charter yacht vacations in the U.S. Virgin Islands.”

Last night the Captains and Crews were welcomed at their annual reception that was just for them.  It is the start of non-stop thanks and appreciation for what these business owners of the Caribbean floating villas contribute to the quality of life for all that experience a charter yacht vacation.  It is a time for reunion for them since this body of professionals rarely are in the same location each year other than the Chartered Boat Shows.  It is a select community of Captains and Crews that support each other in the sharing of best practices, and catching on the news from their off-charter experiences that happen from July through October.  The Charter Yacht Brokers had their own personal reception at Frenchmen’s Reef Resort’s Sunset Balcony last evening.

Today the registration of Brokers continues, as the stragglers check in before the Governor’s reception tonight.  The charter yachts are all open for viewing today from 9AM to 5PM.  The crews are decked in their finest, the yachts absolutely sparkle, and the food and beverage presentation on each yacht is over the top.  They are definitely making a statement to each of the Brokers who tour their yacht, “You have just come aboard one of the finest charter yachts in the Caribbean.  And we are so proud to welcome you to our floating villa.” 

Tonight Erik Ackerson has arranged an elegant dressed “Black & White” cocktail reception at the VICL tent on the Yacht Haven Grande lawn.  The guest of honor is Governor John DeJongh who will address the Brokers, Captains and Crewmembers with his vision of how the USVI will continue to support and promote the tourism with a focus on the charter vacation industry.  In addition, Lt. Governor Francis, Congresswoman Christensen, Senator Hill, Commissioner of USVI Tourism Board Doty,  Lt. Commander Grant - USCG, and Director Mel Vanterpool of Homeland Security.

Stay tuned, we will have a full report of tonight’s events.  In my various discussions with Gov. deJongh over the past year, we talked often about the Six-Pak Law.  I hope there are comments from him about his view of the next steps in having this ridiculous law repealed.  Stay tuned…your Internet reporter  has more to come. 

The BVI Boat Show is one not to miss!  The “Best of the Best”  charter yachts show up for viewing, and parties!

The BVI Boat Show opened this week at Village Cay Marina  on Tortola, BVI!  This is one of the key Charter Vacation Yacht events of the year.  As I mentioned a couple of weeks ago, Charter Boat Shows  allows the Vacation Yacht Brokers from North America to view most all of the Charter fleet at one location the week before the Caribbean charter season officially opens in mid-November.

The Charter Yacht Society  was founded in 1982 by the owners of crewed yachts in the BVI.  CYS is the voice of the charter yacht industry as they are the education arm, and advocate for the issues facing the charter industry within the BVI.  Crewed chartered vacations in the BVI serve clients from around the world, and the member-yachts of CSY are viewed as the best of the charter industry.  Janet Oliver is the Executive Director  of BVI Charter Yacht Society, and is one of the hardest working advocates for the industry that I have every met.  Her tireless efforts are accelerated in the production of the Boat Show each year.  After Saturday we hope she takes a few days off to recharge her batteries.

Two of the yachts at this year’s Boat Show that I have personally chartered for sailing the BVI are s/v Double Feature - a Lagoon 57 - with Captain Jonny and Chef Kelly as your hosts, and s/v Dream Catcher II - a Privilege 51 with Captain Jean-Pierre as your host.  I can tell you first hand that both of these crews and yachts provide unforgettable experiences for whomever is their charter guests. Contact me  if you would like more details about these very special crews and catamarans.

Early in the morning the crews re-polish every inch of their yachts and prepare for the viewing of their “Floating Villas”  by the charter vacation Brokers.  From 9AM to 5PM each day of the show, the crews are welcoming aboard the people who will be promoting their business throughout the year.  The crews are dressed to the nines, and daily prepare appetizers and beverages for all who come aboard.  In addition, each day there are various other events happening for the Boat Show participants;

• Service Provider Expos:  Provisioners, Restaurants, Charter Yacht Services, and more.  They have live entertainment and various contests for the crews and Brokers.
• Education Seminars:  Best of practices resentations for both Crews and Brokers.
• BVI Governor’s Reception at the Governor’s Residence.
• Contests: There is fierce competition for Napkin Folding and Appetizers. ( At last year’s Boat Show s/v Zingara’s  crew won the Napkin Folding, and Emily from s/v Swish  won the Appetizer competition - a hot and crispy Mahi Mahi presentation.)
• The competitions are judged by several of the key members of the charter industry with Dick from CharterPort  always one of the favorites.

The BVI Boat Show is also one of only times during the charter season that the crews are together in one port.  Because of that fact, the after parties each night that crawl from yacht to yacht are over the top, and sometimes not even remembered!  I, Jim Walberg,  will never be able to run for public office because of photos and tales that could be told regarding my ability to run with the “Big Dogs” - even though I am considered the “Old Dog”  at 60 years old.

At the conclusion of the Boat Show a tradition has unfolded where many of the charter yachts sail to Deadman’s Bay  at Peter Island for what is now titled “Splish Splash”.  The crews take Brokers aboard as their guests, and the party continues this Sunday with water skiing, snorkeling, and cocktails.  The BVI Tourist Board  takes care of the transportation of the ferry transportation to St. Thomas and Yacht Haven Grande  for next week’s Virgin Island Charter League Boat Show - another week of viewing charter yachts and Broker/Crew events.  Stay tuned!  I will have several updates of next week’s VICL Boat Show, too.  Until then…

Well, today you can!!!  Live your dream aboard this beautifully appointed, performance cruising sailboat, luxurious, fully equipped and ready to sail way…RIGHT NOW!

Captain Chris and First Mate/Chef Julie purchased this fast sea-worthy cruising vessel in 1998.  They immediately began a refit of the sailboat and launched s/v Blu Moon  into the Caribbean charter fleet that year.  What an adventure they have enjoyed while discovering the life of owning a charter yacht business in the Caribbean.

I first met Chris and Julie at the Virgin Island Charter League Boat Show  at Yacht Haven Grande in St. Thomas.  The VLCL have hosts the charter yacht fleet each year to St. Thomas for the charter yacht Brokers to check them out and see which ones they want to promote to their customers back in the States.  If you recall, last year I did the internet reporting for the VICL 33^rd Annual Boat Show.  At last year’s show I was rushing by s/v Blu Moon  and immediately stopped dead in my tracks when I saw Chris and Julie rocking in the hammock attached to their mast.  I am so glad I stopped to say hello.  What has evolved is fun friendship with two top professionals in the charter industry.  

They have owned and operated their charter yacht business for over eleven years and have been married for almost 25 years.  They met in Kansas and the story is too long to tell as to how they ended up in the Caribbean.  What was most interesting to me was their favorite chartering area is the Spanish Virgin Islands.  I have seen Spanish Virgin from the air when flying to the Caribbean from San Juan, Puerto Rico, but I have never actually sailed around them.  The stories that unfolded let me know I have missed a very special part of the Caribbean the last 40 years.  And, the experiences they shared happened with their eyes gleaming and big smiles on their faces.  They are passionate about the unspoiled beauty and very laid back style of the Spanish Virgins.

So, why are they selling s/v Blu Moon?  Because they have purchased a 65′ Privilege catamaran - s/v Felicia, and are sailing up from Trinidad  right now so it can be in the VICL Boat Show next week in St. Thomas.  My last correspondence from them let me know they are doing the upgrades to s/v Felicia while under sail.  They did report they had there first Caribbean swim when they anchored at Bequia in the Grenadines.  They are just about complete with all of the refitting, including a new galley.  From what they told me last week s/v Felicia  will be in sparkling condition for the St. Thomas Show which starts next Tuesday.  I have been on s/v Blu Moon  several times, and since Chris and Julie purchased it in 1998 they have consistently been improving her design, capabilities and comfort. Their custom changes and upgrades are valued in excess of $100,000, optimizing this vessel for Caribbean cruising and beyond.  It is ready to enter the Charter Fleet today, or to take you anywhere you want in the world!

So, go to the s/v Blu Moon  website and check out the incredible opportunity awaiting the next charter yacht owners.  The price is only $225,000.  Or, email them at: info@bonvoyagecharters.com    Also, if you want more information about chartering their 65′ Privilege catamaran s/v Felicia in 2008/2009, contact me TODAY.  It is booking up fast.  You will not believe the experience of a Caribbean charter yacht vacation.  Their rates for an all inclusive week start at only $24,500 for four people.  Their catamaran can hold up to four couples in queen size bed suites.  Until next time…fair winds.

The VICL is hosting the annual event that shows off the Caribbean Charter Yacht Fleet next month in St. Thomas - Jim Walberg, internet reporter!

I will again be the internet reporter for the Virgin Island Charter League  Boat Show next month at Yacht Haven Grande Marina  from November 9^th - 12^th.  This is THE event of the year for the Charter Yacht Fleet.  It is four days of having the Charter Yacht brokers from all over the world coming to St. Thomas to preview the yachts and crews that are the floating “Bed & Breakfasts” of the Caribbean.  The charter vacation yacht brokers will be selecting the yachts and crews they will be promoting to their clients for the upcoming season.  All of the yachts and crew are at their finest for this important event.  Each of them wants to be one of the yachts the brokers put on their short list of their favorites.  The charter yacht vacation brokers could make or break crews’ charter season with the recommendations they make.  The season starts November 15^th and ends June 15^th.  All of the yachts will be polished and varnished for this very fun annual party of the charter fleet.

 During the entire event I will be interviewing crews and photographing their yachts.  The human interest stories that are a part of the daily lives of these owners of the Caribbean floating bed and breakfasts are always inspiring.  I have yet to meet a more interesting group of world traveling entrepreneurs who know how to create an unforgettable experience for each of their clients.  The reason the Charter Boat Shows are interested in my reporting is because there are many of their members who will not be able to attend, so they want an internet site where they can go and catch up on the daily activities of the Show.

Imagine that you own one of these charter yacht businesses.  Your income is based on how many charters you are able to book during a season, and the gratuity that your guests give you at the end of their charter vacation - typically 15% to 20% of the cost of the charter vacation.  It is typical to have 20 to 25 charter weeks a season.  You are on duty 24 hours a day for EVERYTHING - four 5-Star meal presentations a day; providing Ritz Carlton service every moment of the day, be in charge of the safety of your six to eight guests, organize the daily water sports that are a part of this type of holiday, effortless sail and maintain your yacht each day…and do it all with a smile and enthusiasm knowing your clients probably have never had such an experience.

Anyway,  the VICL Boat Show in St. Thomas  is a sailor’s dream to attend.  You are mingling with some of the most skilled sailors in the Caribbean who have decided to monetize their skills in providing a floating “bed and breakfast” to people who love the Tropical life.  I tip my hat to these amazing entrepreneurs who help thousands of people fall in love with the Caribbean experience every week.  If you want more information about booking a chartered yacht vacation in the Caribbean, let me know.  We do it all the time for our customers.  Or, if you just want to stop by the show, you will have the time of your life.  We can even stop by the Rum Shack at Havensite at the end of the day for some refreshments before the evening parties begin.  There will be more articles about the events that will be happening at the show, so stay tuned! 

Who’s Who In Luxury Real Estate’s Fall Conference featured Jim Walberg as one of the presenters.

Twice a year Realtors from all over the world gather at the Who’s Who In Luxury Real Estate conferences.   This is the group that represents the best Realtors from almost 70 countries with only 1,900 members.  Their Fall Conference just concluded in Philadelphia at the Ritz Carlton.   Their Winter Conference is in Paris in January.

I was invited to be a presenter at the conference by John Brian Losh  - founder of Luxury Real Estate.  My topic was profitable internet marketing using blogging as the tool, because of the results that have been created with Caribbean Islands Realty.  Luxury Real Estate’s blog site publishes  many of my articles each month about what is happening in the Caribbean real estate markets.  ALL of the buyers and sellers that have contracted Caribbean Islands Realty have come from our internet blogsite.  ( The photograher for all of the Luxury Real Estate conferences is Ilya Photography.  Ilya is one of the best in the business.)

During the conference I renewed old friendships and made many new ones with the top Realtors in the WORLD - from Australia, Europe, Canada and the US.  I even wore a tux!!!  It was an inspiring experience to share time and information with such a prestigious group of professionals.  I had not been in Philadelphia since I was ten years old, so it was amazing to walk through the headquarters of liberty for our country.

I took an afternoon off and just walked several miles visiting Independence Hall, the Liberty Bell,  the hall where our first Congress convened, and Thomas Jefferson’s garden where he met with Lewis and Clark before their unbelievable expedition of the Western United States.  I was moved by the courage of our Founding Fathers in spite of their fears.  They did not let fear paralyze their commitment to gain the liberty that all of us enjoy today.

My walk last Saturday in Philadelphia reminded me of the scary times we are in today with the world economic meltdown underway.  Many people are paralyzed with fear and believe there is little to hope for.  My focus is where are the opportunities?  We will figure out how to get through this significant moment in our world’s history.  Do you know why?  Because, we don’t have a choice. 

When I mentioned opportunities all around us, how about an 18% increase in Caribbean real estate sales the past 12 months?  The Caribbean fractional / residence club  properties have even more sales.  How about the great prices for real estate in our local communities?  Remember a past article about fear  - FEAR = False Evidence Appearing Real.  So, fear is a bad place to hang out.  If you are thinking of a second or third home in Paradise, today is the day to take action.  Contact me  or leave a comment so we can assist you with your next Caribbean purchase.  Besides gaining a piece of Paradise, we will also have lots of fun!  Until next time…fair winds in the midst of stormy times.

The world financial markets are in TURMOIL!  Many people are running for cover!  Is it time to BUY?

If you recall my mantra before I have launched any sailing adventure you will know where I am heading with this question.  “Do not be fearful!”  I chatted today with one of my good friends, Bob Waun, who is the president of Vacation Finance.  Neither of us know what is in store for real estate in the Caribbean, however, we are in agreement it is chocked full of opportunities - lots of choices, and great bargains!  Here are some of his musings…

 Faith, beliefs and conviction can be fickle friends when they are tested by panicked masses. “The end is near!” seems to be the chant of the crowd across the world today.  But what of substance has changed within our global economy?  Did a world of Fathers change their commitment to feed and clothe their children?  Did Mothers decide that the generic brand cereal would be fine in mass?

Purely FEAR of what “might” change. Now that’s not rational. Historians and economists can attest that humans don’t always act rationally in mass, but as individuals we can choose to be rational. To act out of faith and conviction not panic.

“Looking back on it, I was a trader in the pits of the S&P in 1987, it was the most exciting and profitable stock market opportunity of my lifetime” a friend told me today… Did he notice it at the time?  No.

Life is clearer in the rear view mirror. Regret is more painful than overcoming fear….

FEAR is “False Evidence Appearing Real”!  Fear paralyzes!  Did you notice what Warren Buffet did last week?  He bought billions of dollars of GE and Lehman Brothers.  His comment was that he has not seen these bargains in years.  Some thoughts for all of us to consider.  Thanks, Bob, for your great prespectives.  You may want to also check out his blog site.  Until next time…fair winds!

St. Thomas, USVI is the location, and the former Preserve At Botany Bay is the spot!

Caribbean fractionals  continue to be THE real estate choice of thousands of Caribbean buyers. Last week David Burden - founder and CEO of Timbers Resorts  announced that the ultra-luxury resort located on the western tip of St. Thomas will be managed by the international hospitality management group - Jumeirah Group,  which is a member of Dubai Holding.  This announcement was made at the signing ceremony with Gerald Lawless, Executive Chairman of Jumeirah. ( Remember my past article about the Virgin Islands  fractional market? )

“We selected Jumeirah as the ideal hotel company to partner with at this unprecedented resort on the secluded western tip of St. Thomas,” remarked David Burden. “Based on their internationally renowned hotel experience in luxury service, they will be a perfect match for our discerning owners and resort guests.”

Jumeirah Botany Bay Resort is one of the true world-class luxury resort which includes mash potato sand beaches, private coves to explore, a protected coral reefs and a nature conservancy, ultra-fine dining, a beach club as well as a Talise Wellness spa.

Jumeirah Group will manage the five-star luxury hotel of 84 rooms, spread over nine tropical buildings in a very secluded setting on St. Thomas’ western shores. It is scheduled to open in 2011, the 400-acre resort will also include 30 fractional residences, 30 whole ownership villas and 20 grand estates. These full-service residences will be managed by Jumeirah Living, combining the luxury of a prestige hotel with all the privacy and comforts of your home away from home.

Jumeirah Group is also in the midst of ultra-luxury resort developments in Phuket, Shanghai, Argentina, Mallorca, London, Dubai, Abu Dhabi, Doha and Jordan, among others.  “We are impressed by Timbers Resorts’ commitment to responsible development and the care with which they intend to develop this protected enclave,” said Gerald Lawless, Executive Chairman of the Jumeirah Group. “With its secluded location in a tropical environment, the Jumeirah Botany Bay Resort will be true to our “STAY DIFFERENT” promise.”

Timbers Resorts is a world class developer that we have enjoyed working with in serving our client’s needs.  The Timbers Collection is a group of small, private, luxury resort properties in the world’s most sought-after ski, golf, beach and scenic countryside locations.  They include One Steamboat Place in Steamboat Springs, Colorado;  Botany Bay Resort on St. Thomas in the USVI;  Castello di Casole in Tuscany, Italy;  The Rocks Luxury Residence Club in Scottsdale, Arizona;  Esperanza Resort in Cabo San Lucas, Mexico;  The Timbers Club in Snowmass, Colorado;  and there latest is The Orchard at The Carneros Inn in Napa Valley.

For further information regarding Botany Bay Resort, or any other of the Jumeirah and Timbers Collection, contact me today!   We are standing ready to serve any of your luxury real estate needs around the world!   I look forward to speaking with you soon.

In the midst of the biggest financial meltdown since the 1930s some hard questions are being asked of Jim Walberg this week.

My email box  is overflowing and the phone has been ringing off the hook.  The people who have an interest in the Caribbean real estate markets are afraid.  They are asking some very hard questions that need to be immediately addressed by our Federal government as to how a further financial collapse can be averted.  You may recall my past article about the mantra of a sailor as they set off on a voyage - Do Not Be Fearful!   Well, it is a challenge to get to that place when the walls or the U.S. financial structure seem to crumbling down before our very eyes.   There is no getting around the fact it is a historical financial mess.  My focus is to always get to “what is” as fast as possible, and start making lemonade out of the truck load of lemons that has just been dumped on our front porch.

When I want some well thought out ideas on National financial issues I call my Realtor friend in Naples, Florida.  His name is Mike Lissack.  He is one of the smartest financial minds that I know.  He came to real estate from a long and successful career on Wall Street where he was named by Worth Magazine as one of “Wall Street’s 25 Smartest Players”,  and is one of the top 100 Americans who have influenced “how we think about money.”  Before he retired from money management he directed more than $25 billion of investments, supervised their financial reporting, and assisted in the design of their risk management and investment operations.

So, we have been corresponding about the financial meltdown that is surrounding all of us.  He has some pretty interesting ideas as to what he would do if he was in charge of the direction our Nation takes next regarding making sure these events never happen again.  I felt it was important for you to also review what he has been proposing to me.  Here is his latest thoughts given the events of the last few days.  Mike’s view on the financial solutions of our current crisis is we need someone in our government to take proactive action NOW!  Here are some more of his suggestions for your consideration, and those of my Caribbean friends asking some very hard questions:

Now that all of Americans again “own” another financial institution because a bailout was required - AIG, and the Feds have stepped in and are claiming they will finally fix the financial mess that our country finds itself in, there are further urgent steps that are needed now:

1)  Remove the FDIC cap or raise it to $250k  (we do not need any runs on the bank)

2)  Nationalize the rating agencies  — they do not do their assigned task - they rated junk bonds “AAA”, and then their reversals of these ratings led to the present financial meltdown.  Ratings are a utility which needs to be performed by competitive institutions who answer to investors not issuers and NOT bankers.

3)  Establish a “swaps” clearinghouse and prohibit implicit leverage on “swaps” by legislating that no position can be swapped or hedged more than once without a prior trade being offset.

4)  Prohibit “third order and higher” derivatives.  There is an underlying transaction, it spans derivatives.  Then there are derivatives which rearrange the first set of derivatives.  At that point, enough is enough!!!  The system cannot deal adequately with the complexities of continuing to dilute and issue more derivatives using the same bundle of “AAA bonds” that are actually junk.

5)  Write down 90% of current appraised value guarantee on Fannie and Freddie Mortgages.

6)  Announce a national shared equity appreciation fund into which the excess of the 90% of current appraised value loans can be dumped.

This is a summary of his second round of suggestions for me to consider.  His first email addressed the Fannie Mae and Freddie Mac mess.  Let me know your thoughts.  Also, if you want to contact him directly, go to www.Lissack.com .  We will always figure out a way to make lemonade out of lemons with this financial mess.  Do you know why?  BECAUSE WE DON’T HAVE A CHOICE!  Until next time…fair winds to you in the midst of a BIG storm!!!