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Thread: Cap Cana problems

  1. #1
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    Default Cap Cana problems

    Yesterday I was told that Cap Cana had to lay off 600 employees due to the fact that financing was done through Lehman Bros. Anybody know anything about this?

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    I heard about the layoffs, but not the reason. The person we spoke to said 3,000 which sounded like a wild exaggeration. Even 600 is startling.

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    Quote Originally Posted by Chirimoya View Post
    I heard about the layoffs, but not the reason. The person we spoke to said 3,000 which sounded like a wild exaggeration. Even 600 is startling.
    Believe me, this is only the tip of the proverbial iceberg. Even Deutche Bank stopped doing Wholesale Mortgages in the Dominican Republic. Without development financing and purchasing financing it is going to be very 'interesting' here in the next few months.

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    Banks have stopped lending especially since Washington Mutual had to hand out $16 billion dollars to depositors in a 3 day period. Banks need to keep cash on hand in case of a run on the bank.
    Very serious business right now.

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    Default Docks for sale yet?

    Hmmmm, I smell an upcoming fire sale in a very nice part of the country.

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    Quote Originally Posted by socuban View Post
    Hmmmm, I smell an upcoming fire sale in a very nice part of the country.
    Ha! You mean the prices will plummet down to "very high" from where they are today? ;-).

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    Today in Diario Libre

    Crisis EEUU impide a empresas RD acudir a mercado de capital - DiarioLibre.com

    Crisis EEUU impide a empresas RD acudir a mercado de capital:
    Economista cita a AES, Itabo, Cap Cana, y Metro Country Club

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    Default Wachovia

    Equally disturbing is the rumor that bank deposits in U.S. dollars in DR were deposited in Wachovia Bank. Wachovia accordingly had a very close relationship with our banks. Any comments?
    Golo

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    Quote Originally Posted by Golo100 View Post
    Equally disturbing is the rumor that bank deposits in U.S. dollars in DR were deposited in Wachovia Bank. Wachovia accordingly had a very close relationship with our banks. Any comments?
    Golo
    Damn! Equally disturbing is that you posted on the board!

    Long time no see

  10. #10
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    Quote Originally Posted by socuban View Post
    Hmmmm, I smell an upcoming fire sale in a very nice part of the country.

    In many parts...

    That was that some realistic people predicted just several months ago. And were attacked like hell.

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