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Gsh & The Nwt Government Loan


xrkyle
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Does anyone know why moving the flight school from Springbank to Yellowknife was made a condition of the loan by the NWT government?

 

Is the government thinking that having a handful of students train there once a year will bring money into the province and/or provide more training and career opportunities to it's citizens? Either of these benefits seem quite trivial and I figure there must be a better reason.

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I would hazard to guess it could also have something to do with the native shares in the company.... But that is only a guess, plus it makes more sense to train in the enviroment you will probably be working in as GSH hires a percentage of there students......

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They still haven't done anything they promised. Head office complete with CEO, CFO etc still has not moved to Yellowknife. I have seen nothing yet saying there is an active training school in Yellowknife. If they are they sure are noot advertising anything looking for students etc.

 

Its all smoke and mirrors by both DA and GNWT

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I take it that they have not moved the flight school or head office. As nobody is saying different.

 

The GNWT should be made to call the loan as they are clearly not following the terms.

 

Why should they call it? I think it is/was in the best interest of the GNWT to provide the loan, since they are making 10% interest on it, per year (as far as I recall). That's a lot of money.

 

As far as the other terms of the loan, I would say this stuff probably takes a bit of time.

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10 % is not all that great most if not all lending institutions wanted a minimum of 12% plus at that time. Why shouldn't they call the loan. Terms are terms if you commit to doing something then you should have to do it. They got the loan saying they would do these things and broke their word.

 

 

So there are lots of GSH guys on this forum i am sure do they are do they not have a flight school running in Yellowknife. Three per you can chime in any time now.

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I'd imagine that the terms of the loan would give them some time to move their management and establish a school there. There also may be clauses in it which would penalize them financially (or otherwise) if they fail to do so.

 

Just Looking, you seem to hate GSH, what did they do to you?

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