The sudden re-emergence of the Southlands/Morgan's Point saga, which is morphing into a scandal of potentially major proportions, is getting ugly fast.
You knew something was up when the Special Development Order Premier, the one who approved an original Southlands plan that concreted in a huge section of coastal cliffs on South Shore, proclaimed that the Morgan's Point plan had too much concrete.
So today we have the Premier coordinating a rather cowardly rebuttal behind an 'anonymous spokesperson' in the paper with some pretty low attacks on the ability and acumen of the Southlands group. I must say that I'm a bit surprised that the Gazette played along with the 'anonymous spokesperson' game.
There's a lot to unpack in this story just from the past two days. Nelson Hunt was throwing around some serious allegations/implications on Everest Decosta's radio show today, including the Premier advocating for a Turks and Caicos developer implicated in the Turks and Caicos corruption inquiry, but suffice it to say that this thing reeks of impropriety.
Brian Dupperreault is arguably Bermuda's greatest individual business success story, heading ACE, one of our flagship companies (the Finance Minister's employer), and directing it to great heights and investor returns. He is currently the head of one of the world's largest professional services and insurance/reinsurance intermediaries. 2009 income for MMC was over $10 Billion. So for the Premier to dismiss the Southlands group as amateurs is weak.
Mr. Duppereault didn't make his many, many millions by making un-thought out investments and picking fights with politicians. He has generally kept a pretty low key profile and lets the results do the talking.
Of course he isn't a pushover, but you can be sure that all of Bermuda's international business executives will be taking note of the tone and personal element of the Goverment's rebuttals.
Here's the thing. While this might seem like huge money to a lot of people, to a guy like Mr. Duppereault it isn't. It's certainly real money, it's not peanuts, but this investment is not going to make or break him, so he has nothing to gain from getting into some pissing match with politicians, but nor is he beholden to them. And that must make the Premier more than a little nervous to have someone with Mr. Dupperreault's character, stature and influence sending a strong message that something stinks at 105 Front St..
It also means that Mr. Dupperreault isn't going to jeopardize his hard earned reputation and position as the head of a publicly traded company messing around with shady deals.
Nelson Hunt has taken a different approach, and declared that he has nothing to lose and isn't going to hold back. If this wasn't so serious and have such implications for Bermuda's reputation and future, I'd recommend grabbing some popcorn and pull up a chair.
If you read the timeline laid out in the Gazette yesterday, and listened to Nelson Hunt today, the Premier's behaviour is very suspect and shady.
One element jumped out at me, which seemed to really sum up how the Southlands group were trying to keep the politicians at arms length. For this they were criticised for being out of their depth:
He [Anonymous spokesperson] claimed the Southlands directors would not take advice from Government's consultants. "They just wanted to fight with these guys," said the spokesperson. "They [Southlands Ltd.] spent a whole heap of money spinning their wheels."And he said they refused offers of assistance in attracting partners, including having the Premier and Cabinet Secretary attend meetings. "It would demonstrate to the development partner the Government's commitment. We made that offer on more than one occasion; they never took us up on that."
There's a perfectly good reason why reputable developers and investors don't want politicians sitting in their business meetings and business plans.
It screams of corruption.
They weren't out of their depth, they were protecting their reputations and credibility.
Politicians should not get this involved in development deals in this way. It is completely inappropriate and should set off all sorts of alarms.
When you see politicians cozying up with developers, the developers look to be in bed with the politicians and the politicians look like they're on the take.
That the Premier can't see that, or doesn't care, and that his colleagues permit this should be very, very worrying to every Bermudian.

