Interesting News on St. Croix Refinery

Great for the economy, but he's trying to take control of GERS and why not use that money for the schools? He's buying votes with this one, I hope the senators reject the GERS part, this isn't something that should be a quick fix, they'll just wait 5 more years to scream that it going bankrupt before doing anything. I'm glad for STX and great news for the island for sure!!!! But he's using this for political reasons not for the residents.

Oh and I guess he needs a new residence as well... 😎

What part is BS?

Gee, really glad he's waited to get this done prior to November elections and fix GERS too!
Chuups!

You think Mapp had something to do with a corporate decision to begin refining at the Terminal?

if the negative comments settle down

After all the negative comments settle down...maybe we can discuss how tremendous this will be for the economy...

Eighteen percent of the VI citizens are over 65 and a large portion are former government employees. Many depend upon GERS for income during retirement. GERS also provides loans for active employees.

So yes it's important to keep the system afloat for the next five years - even if it's just kicking the can down the road. GERS is highly valuable for the economy of the VI.

Bracing up the VI economy with revived industry, improved tourist facilities, strengthened infrastructure and stable incomes for vulnerable citizens is significant.

This is why you elect politicians. Mapp represents the VI well through his public/private partnership strategies.

Of course timing has to do with the election - why wouldn't it?

I think Mapp is lying about giving that $ to GERS. Wait and see, it won't happen. If it does, I'll be shocked.

Eighteen percent of the VI citizens are over 65 and a large portion are former government employees. Many depend upon GERS for income during retirement. GERS also provides loans for active employees.

I understand that they depend on it, but this will go on for 5,10, 15 years and the can will be rusty and full of holes by then and nothing will be fixed. 18% is only about 18,000 people and I can guess 12,000 get benefits from GERS if that is the case, so it's only benefitting a small portion of people as compared to giving our kids a better education, who in turn, will hopefully be productive members of population. But we can go on and on with this. This is like the original limetree deal, promises, promises, where are your tax returns and all the other glitter he promised? I did see a Chinese tourist there last time I was down, maybe that's a start and 5 years later who knows...

I just don't like Mapp, sorry.

 

Without a solvent retirement system the VI is/will be unable to attract and retain teachers. All roads lead to GERS stability.

Eighteen percent of the VI citizens are over 65 and a large portion are former government employees. Many depend upon GERS for income during retirement. GERS also provides loans for active employees.

I understand that they depend on it, but this will go on for 5,10, 15 years and the can will be rusty and full of holes by then and nothing will be fixed. 18% is only about 18,000 people and I can guess 12,000 get benefits from GERS if that is the case, so it's only benefitting a small portion of people as compared to giving our kids a better education, who in turn, will hopefully be productive members of population. But we can go on and on with this. This is like the original limetree deal, promises, promises, where are your tax returns and all the other glitter he promised? I did see a Chinese tourist there last time I was down, maybe that's a start and 5 years later who knows...

I just don't like Mapp, sorry.

 

when was the last time GERS was stable

GERS is not stable- but a stabilized GERS is important for the future of the VI to enable the islands to attract teacher, nurses, and other professionals.

when was the last time GERS was stable

GERS is not stable- but a stabilized GERS is important for the future of the VI to enable the islands to attract teacher, nurses, and other professionals.

when was the last time GERS was stable

A 401(k) would be a much more attractive plan.

But it's next to impossible to convert to a 401K (or 403b) option when an existing pension system is dependent upon current payments from working members to cover its current pension obligations.

GERS is among many state employee plans across the US to be facing this crisis.

Lots of bad news lately about the demise of pensions - and why Millennials will never be able to retire.

GERS is not stable- but a stabilized GERS is important for the future of the VI to enable the islands to attract teacher, nurses, and other professionals.

when was the last time GERS was stable

A 401(k) would be a much more attractive plan.

The bottom line here, is that much more money will be coming into the territory from private institutions.

With enough time & money, a lot can be fixed....
After we pay back all the money we had to borrowed to sustain the unsustainable!

Lots of bad news lately about the demise of pensions - and why Millennials will never be able to retire.

Pensions have been disappearing for a long time in favor of 401Ks. With 401K and early and regular contributions Millennials should not have an issue with retirement.

Millennials won’t have pensions because we sent all our industry (where members of strong Labor Unions worked) overseas.

In the early eighties there was a saying,
“Buy American. The job you save may be your own.”

This has gotten really off topic, but can't refrain from commenting on 401Ks saving millenials' retirements. Since almost 80% of American workers live paycheck to paycheck, and half of college educated workers earn less than they did in 2000, it's not surprising that not much goes into a retirement fund of any kind. With the current trade war looming, it's probable that the COL is going to increase again, putting more pressure on the average paycheck.

https://stthomassource.com/content/2018/07/05/refinery-proposal-geared-to-generate-happiness-but-it-has-its-detractors/

The looming “trade war” will return jobs and restore the middle class. You remember the “middle class” right? The people who pay the majority of taxes in this country.
They usually work for large private companies that produce exportable products that the rest of the world wants... Like for example, Oil refineries.

The looming “trade war” will return jobs and restore the middle class. You remember the “middle class” right? The people who pay the majority of taxes in this country.
They usually work for large private companies that produce exportable products that the rest of the world wants... Like for example, Oil refineries.

(tu)