HMAS ADELAIDE

How hard is it to generate money?
Must be pretty hard if you are a govt. dept.

Spending money on essential services is a given.
Hospitals, transport, power generation all require govt funds, but what about money generating projects- Telstra, Freightcorp, TAB, Lotteries and the likes, they all generate funds for the govt.
So we need more money generating ideas that the govt can easily administer.
But, there were other avenues to generate funds and the NSW Rees' govt, seems to have forgotten them, now the election process has ended.

You would have read in the local newspapers-Artificial reef project is dead.
People in the know- know of someone who knows someone in their political arena that has firsthand knowledge that the project has ground to a halt.

The Rudd govt isn't cooperating with the Rees govt.
No money left for this project.
Schools and Hospitals more important.

I don't know about you, but when a federal govt minister deeds a gift to the state govt with a price tag of $3M, this isn't a small gift.

The Rudd govt wants to stimulate the economy. Perhaps Kevin Rudd should talk to the NSW govt and ask them why they are "white anting" this project.
By holding back on the release of funds to prepare the HMAS ADELAIDE for scuttling. They are not stimulating they are procrastinating!

Unless of course, the NSW govt is so skint they can't afford to spend money to stimulate themselves so the result is- we are going down the gurgler, so why deepen the pool.

The scuttling of the HMAS ADELAIDE will help to stimulate the NSW Central Coast economy to the tune of $17.2M.
This easily relates to $1.72M in GST earnings in the first year alone.
What other project does the NSW govt have up its sleeve, that will return a four possibly five fold return in the first year?
I can't seem to find one- Can you?

Have our local state members gone to sleep on this issue?

In the meantime, I have invested more money in another dive boat as you are aware.
I am now purchasing a larger compressor to handle the expected extra workload. All this infrastructure has to be in place, up and running on day one.

Air compressors don't arrived two days after order, they take ten to twelve weeks to arrive.

Boats need work, they can take just as long to arrive or be approved.

Plus, I don't even know if I will be fortunate enough to get a licence to offer diving on the HMAS ADELAIDE once it has been sunk- There are at least four other, established operators that would like themselves chosen- instead of me.
This is a huge gamble that may or may not, pay off!

The sinking will generate more money than its investors care to imagine, plus the ongoing schemes.

I would love to be in the position to say to the NSW govt- I will buy the wreck, sink it, have all the insurances in place, pay a fee to the govt to set up an exclusion zone, then collect all the fees operators would have to pay me.
I believe as an investor, I would be looking at a minimum fourfold return in the first year with an estimated threefold return each year after that.

Who wouldn't jump at the chance to invest.

The answer is quite simple.
The money was available to spend before the election, the NSW govt. needs get up the courage to follow their conviction and follow through with this deal.
They will spend approx $5M to have the vessel on the bottom, ongoing costs are to be borne by the operators, the govt will reap the whole benefits of the GST plus, the fees paid to them by operators.
This is a WIN WIN situation for the NSW govt.

Accommodation outlets, petrol, food outlets, tourism operators plus others will benefit for years to come.
So why is the artificial reef (HMAS ADELAIDE) dead in the water?