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VI Stock Exchange proposed

Gov. Turnbull wants a task force to study the feasibility of establishing a stock exchange in the territory. "The creation and implementation of such an initiative may prove vital to the continued growth of our economy," the island’s chief executive said in news release announcing his executive order to establish the study.  "The territory could easily become the financial capital of the Caribbean and position itself to be the financial leader in the region," the Governor said.

Sen. Roosevelt David praised the idea, explaining "What they want to do is attract capital to the territory, which is good."  He said the exchange could have over-the-counter and Internet trading, and probably would be based on St. Croix.  "This would give Economic Development Commission companies the opportunity to generate their revenue here," David added.

Colombian Emeralds at the ferry dock

Logo_colombian_emeraldsThe island’s newest jewelery store is ready on the first floor of the new Dockside building in downtown Cruz Bay. 

Mary Davis is the manager. She previously left the company to open her own business, the Colorful Corner, on Bordeaux Mountain.  "No one but (the owner of Colombian Emeralds) could have gotten me away from my store," Davis told the St. John Sun-Times. "But I have always had a soft spot in my heart for the company." The Nassau-based retailers has 55 stores.  She is impressed with new lines of jewelery from Gregg Ruth and Vianna that the store is carrying. "But most of all, our sales staff is extremely excited," Davis said.

Mongoose progress report

A new two-story stone building  is being completed, to include a kitchen for a new restaurant at Mongoose Junction.  This work has been going on for more than a year, even while the Deli Grotto serves up some of the finest sandwiches on St. John.  Owner dan Sheffey has a great, welcoming attitude, evev as he’s working behind the counter.  (Call  340/ 777-3061 and order some sandwiches to go for a picnic at the beach.)

The new building’s roof beams are up, and the downstairs interior is being plastered, according to a recent visitor.  Like lots of things on island, the new place ‘soon come’.

Read moreMongoose progress report

Why Pet owners pay more

If you bring your dog or cat to St. John, be prepared to pay up to $120 to get from the airport to Red Hook.   The main reason for the high price is a $90 fee for an "exclusive taxi" plus kennel fees to make up for luggage the drivers miss by carrying fewer people.

The president of the V.I. Taxi Association said there is no policy requiring pet owners to travel alone with their pets. "People can talk with the driver and try to work out something," he told the Virgin Islands Daily News.  But taxi drivers and dispatchers told the newspaper requiring exclusive taxis is not negotiable because other passengers might be allergic to animals.   

Andrew Rutnik, Licensing and Consumer Affairs Commissioner, told the paper he brought complaints about the policy/non-policy to the taxi group several weeks ago.  He was told the association does have an exclusive taxi policy.  "They felt their insurance policy would be jeopardized if someone had an allergic reaction," Rutnik told the Daily News. "I asked if it was a little dog under someone’s arm, was it OK?, and they said no."

Governor’s site boosts travel

HomebackgroundThe government has launched a new Web site designed to encourage vacationers to visit the Virgin Islands.  Information about the beauty, cultural pride and economic opportunities of the Virgin Islands are found on the promotional site, www.GovernorTurnbull.net, designed by a New York communications firm as part of a $50,000 contract. 

"Part of our mandate was to project the territory nationally," said Lonnie Soury, president of Soury Communications. "We want people to see the Virgin Islands in the aspect of the national and global picture."

Soury told the Virgin Islands Daily News the web site is now being promoted to the financial community and national media outlets in New York and Washington.

Planning for 8 Tuff Miles

Calendar06Registration for the 10th annual 8 Tuff Miles road race has begun. Race director Peter Alter is planning for 700 entrants this year, up from last year’s record 589 runners, sprinters, joggers and walkers.  (Everyone’s welcome!)  (Click on the calendar for details.) The third of three training runs is scheduled for Saturday Feb. 11.

You can register online at http://8tuffmiles.com/register.htm. The fee is $30. There will  be no registration on race day.

Ferry fare hiked again

Ferrytourists

What cost you $3 last February will cost you almost 3 times as much this February, thanks to a second fare increase in five months for the Red Hook ferries and a new baggage charge.  The regular fare has been boosted to $5 one-way.  You and two bags … $11.  Last year, $3. The fare from St. John to Charlotte Amalie has been raised to $11.50, plus baggage fees. (I knew this was coming last year when I saw seeing "Tips Accepted" cans on the barges.) 

The $5 one-way fare was approved by the V.I. Public Services Commission.  The PSC calls the increased fare "temporary", but acknowledges that while fuel prices have skyrocketed, the price was $3 from 1989 until this year.  A  $2/bag fee, instituted in August, has been increased to $3.

Real estate: have listings peaked?

For the first time since October, the number of properties on the Multiple Listing Service  decreased, week to week.  The MLS is showing 86 residences, compared to 89 last week.  One new house came on the market, also a rental villa, known as Temptress.  The Chocolate Hole property has 2BRs/2Bas plus pool and is priced at $1.895 million.

Not the same story for condos or land.  One new condominium came on the market, bringing the total to 26. The number of undeveloped lots rose to 214, up 4.  There was no change in commercial properties, 15.

Why real estate people are optimistic

There are lots of reasons why island real estate sales people can be confident, despite a record-setting rise in the number of homes for sale on island this winter.

In a study of baby boomers conducted for the National Association of Home Builders, more than half indicated they are "likely" or "very likely" to buy a vacation investment or new primary home in the next 60 months.  There are 70 million boomers, the first of whom turned 60 this month.

Park plans new trail, camping grounds

The Superintendent of the Virgin Islands National Park revealed plans for a New North Shore Road hiking trail and what he called "back country camping facilities" during a State of the Park address last weekend. 

Art Frederick also told the annual Friends of the Virgin Islands National Park meeting about extensive plans underway to to maintain and repair the North Shore road.  The $2.8 million project is expected to be complete by December.  Because of the project, the island has its first traffic lights.  They are managing traffic on what-has-become a one lane road where work is being done at Lind Point and Penn Point at Maho Bay.  It’s been 15 years since the roads have had such attention. 

The Park’s biggest event of this year, Frederick added, will be creation of a garden in front of the visitor’s center.  It will be dedicated to Laurence Rockefeller, the man who donated the Park’s land.