Thursday, May 9, 2013

Port Update         Published 5/09/13
It was announced today that the Port Authority (The Port) has arranged to sell some of the DHL package sort equipment acquired when the Air Park was taken over by the Port in 2010. The sale is expected to worth $1 million. That’s the good news. The bad news is that due to a contractual agreement DHL can demand a 60% share of the sale proceeds in what is called a “claw back” clause.
The inflow of cash will help to sustain the cash poor Port for a while.
Paul Hunter

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