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Well, I just finally got caught up on reading my Avis papers tonight and awaiting last weeks issues to be sent in the mail. I read in July 10th's paper, that it was voted 10 -5 in favor of producing Captain Morgan's rum on St. Croix! How does everyone that lives on the island feel about this? Is there any way that this can over ruled by PR where it is presently produced? My wife and I plan on retiring on STX in 4 years and see this as a positive movement for the economy of USVI.....especially STX?
Posted : July 20, 2008 3:57 am
I really hope STX get's it over my country Puerto Rico. First of all Puerto rico is the number one rum producer in the World they don't need to take the whole cake. Also the facilities of Serralles in Ponce where the make the Famous Don Q are out dated i know the family they have the money to update they waited until Diageo reach it's limit to start making promises but is too late i think the people of crucian rum will make a great rum and Puerto rico will be fine already Bacardi announced they are investing over 200 million dollars in 3 years to expand production because they closed the Bahamas plant. Bacardi Puerto rico produces 80% of all bacardi rum in the world and 100% of all the rum consumed in the U.S Bahamas only produced 10% or less of Bacardi rum mixers and coolers that they no longer manufacture anymore.
Posted : July 20, 2008 5:11 am
Puerto rico has no say in USVI government and decisions puerto rico is a completely different US territory from the USVI don't worry about that, San Juan Puerto rico is not the capital of the USVI. Now the PR government could lobby that is all but that is a done deal STX will get the production.
Posted : July 20, 2008 5:15 am
If you follow any professional sports, and watch how team managers, player managers, player's unions and team owners operate, you get a very good feel for how "negotiations" play out.
I wouldn't be surprised if Morgan really wanted a better deal from PR and is using these talks with VI to stir the pot... up the pressure on PR. USVI might understand what's going on, and be using this to negotiate something with PR as well. The public face of these negotiations might not match what is really happening...
This will be interesting to watch...
Posted : July 20, 2008 1:38 pm
Bacardi PR produces " 100% of all the rum consumed in the U.S." ???? Can that be the right statistic??
Posted : July 20, 2008 1:50 pm
Exit let me rephrase the bacardi plant in puerto rico produces 100% of Bacardi Rum sold in the US. Now in regard to total rum sales Bacardi dominates close 80% of the rum consumption in the US.
Posted : July 20, 2008 2:35 pm
Captain Morgan already claims a 30% market share of Rum sales on the US Mainland. So much for Stats!
Posted : July 20, 2008 2:47 pm
I believe this is a good faith proposition. The real question is if it will every really come to fruition.
Posted : July 20, 2008 5:43 pm
i believe our gov has to find buyerss or bondholders first to secure the 250 million before the deal can officially go through
Posted : July 20, 2008 5:45 pm