Cap Cana problems

frank recktenwald · #1 10-02-2008, 09:50 AM

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?

Chirimoya · #2 10-02-2008, 02:02 PM

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.

Castellamonte · #3 10-02-2008, 02:10 PM

Quote:

Originally Posted by Chirimoya

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.

vandee · #4 10-05-2008, 08:31 PM

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.

socuban · #5 10-05-2008, 10:27 PM

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

Castellamonte · #6 10-06-2008, 11:38 AM

Quote:

Originally Posted by socuban

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? ;-).

Chirimoya · #7 10-06-2008, 12:21 PM

Today in Diario Libre

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

Quote:

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

Golo100 · #8 10-07-2008, 03:04 PM

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

Robert · #9 10-07-2008, 04:05 PM

Quote:

Originally Posted by Golo100

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

AK74 · #10 10-07-2008, 05:33 PM

Quote:

Originally Posted by socuban

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.