We are CrazyAboutNewfoundland.com

CrazyAbout - Smart Phone app

noreply@blogger.com (We're CrazyAboutNewfoundland.com - Are you?) — Sat, 14 May 2011 19:26:00 +0100

First stage of the CrazyAboutNewfoundland smart phone app is in progress. Check out the link below by taking the link from your smart phone. It's just for fun and is the first phase. The full app will be downloadable in the near future from the Apple, Adriod & BlackBerry stores soon.

Meanwhile you can play with the mobile web version by taking the link:
http://tiny.cc/crazyaboutnfld (take the link from your phone!!)

My Newfoundland Adventures - Finally Closed!

noreply@blogger.com (We're CrazyAboutNewfoundland.com - Are you?) — Sun, 6 Mar 2011 21:41:00 GMT

My Newfoundland Adventures has left the Steady Brook shop (which is now empty), and Hanzalek has taken himself and all the activity gear off to St Johns.

Watch out St Johns!

Excellent new video - Marble Zip Tours

noreply@blogger.com (We're CrazyAboutNewfoundland.com - Are you?) — Fri, 22 Oct 2010 06:08:00 +0100

Turn your volume up, and then enjoy ...

Deer Lake Regional Airport Opens Newly-Extended Runway

noreply@blogger.com (We're CrazyAboutNewfoundland.com - Are you?) — Fri, 22 Oct 2010 05:53:00 +0100

A newly-completed runway extension at the Deer Lake Regional Airport will enhance and improve safety and operating conditions, thanks to a partnership between the governments of Canada and Newfoundland and Labrador.

On hand to officially open the runway extension were the Honourable Senator Elizabeth Marshall, the Honourable Tom Marshall, Minister of Finance and President of Treasury Board for Newfoundland and Labrador, on behalf of the Honourable Tom Hedderson, Minister of Transportation and Works, and Todd Lee, Deer Lake Airport Authority Chairman.

Of the top 30 airports in Canada, Deer Lake Regional Airport was one of only four with a runway length of less than 6,000 feet. The runway extension from 6,000 to 8,000 feet will improve maximum takeoff weight on longer routes, improve safety in winter and summer months, improve operating conditions for aircraft, and develop new markets, routes and service opportunities.
"Safe and competitive airports are essential to ensuring Canada's place in the global landscape," said Senator Marshall. "Our Government is pleased to have worked with the Government of Newfoundland and Labrador and the Deer Lake Regional Airport to complete this important project. The construction of public infrastructure, such as the runway extension project, provides a safer environment for passengers and helps our businesses prosper now and into the future."
"The runway extension at Deer Lake Regional Airport is a significant addition to the infrastructure at this important facility, and is another step forward in the airport's development," said Minister Hedderson. "I am very pleased that our government has partnered with the Federal Government to contribute to this project, as part of our aggressive infrastructure investment initiative. This upgrade enhances capacity and safety at the airport, while supporting the airport authority's efforts to develop new business opportunities."
"I commend both levels of government and the airport authority for completing this important project," said Darryl Kelly, MHA for Humber Valley. "This investment will help to enhance the transportation system in the region and strengthen the local economy. This is great news for residents and businesses in the area.

"This project was made possible by the generous financial assistance of the Federal and Provincial Governments" said Mr. Lee. "This tri-party cost-sharing arrangement provided the necessary funds to complete the expansion project at a time when our infrastructure was struggling to keep pace with the growing demand."

On May 11, 2009, the governments of Canada and Newfoundland and Labrador each committed $3 million to support this expansion project. Federal funding was provided under the Infrastructure Stimulus Fund. The balance of funding for the $9-million project was provided by the Deer Lake Airport Authority.

As part of the Government of Canada's Economic Action Plan, the $4-billion Infrastructure Stimulus Fund is providing funding for close to 4,000 infrastructure projects across the country. Overall, the Government of Canada has invested $59 million toward 28 projects under the Infrastructure Stimulus Fund across Newfoundland and Labrador.

Canada and Newfoundland and Labrador are working together to create jobs and boost the economy, while making significant investments that help communities improve their infrastructure. Both governments have agreed to work together to ensure that these funds are delivered quickly and efficiently to municipalities in Newfoundland and Labrador.
For more information, please visit www.creatingjobs.gc.ca.
To learn more about Canada's Economic Action Plan, visit www.actionplan.gc.ca
Original article

Western Star - Resort can still lead the economic charge

noreply@blogger.com (We're CrazyAboutNewfoundland.com - Are you?) — Fri, 19 Mar 2010 06:24:00 GMT

CORNER BROOK
GARY KEAN
The Western Star

Resort can still lead the economic charge: professor

A business professor at Memorial University says the original allure which made Humber Valley Resort attractive is still intact and the development can continue to be a hallmark component of the regional economy.

The troubled resort has emerged from bankruptcy under the ownership of a consortium led by local residents Katie and Graham Watton and Gary Oke.

Tom Cooper, assistant professor of strategy at Memorial’s School of Business, was in the Corner Brook area when the new ownership was announced last week and said the news was obviously the talk of the town.

More importantly, Cooper said the announcement can mark the beginning of a brighter chapter for the property since the risks of operating a resort are different than those of breaking ground and developing it.

The new proprietors need to concentrate on positive cash flow and effective marketing, according to Cooper.

“I think Humber Valley still has a good reputation in the province,” he said. “It’s now a matter of taking more of a longer-term view and making sure they run it like a business, rather than how quickly can we get these chalets up and get money back to our investors.”

It is common for resort developments to change ownership hands before they get off the ground, agreed Cooper, but they don’t usually spiral into bankruptcy like Humber Valley Resort did.

“For the new owners, though, this was an opportunity because they were probably able to get it at a reduced cost than if they had bought it from the original developers,” said Cooper.

The Western Star has not been able to confirm how much the resort’s assets were sold for, though it is believed to have been less than what was required to reimburse the millions of dollars owed to all of the project’s creditors.

“The interesting thing is, whenever I speak to other developers, they always point to Humber Valley as a success,” said Cooper.

“It as the first big resort of its kind to be done, it was marketed to Europeans and it was done in a professional way. Just the fact it was done was a success. The question now is can the new owners make it a success as a day-to-day operational resort?”

Having local ownership is a crucially positive component of the new approach, said Cooper. So is having someone, like Oke, who has a solid understanding of the golf industry.

“Whenever you’re managing something like this, it’s mostly about how you generate cash flow to keep things maintained and up to standard,” commented Cooper. “Humber Valley should always be a high quality experience, given its location and the amenities invested in it. But you still have to make sure the maintenance is there and it is well staffed and has good management.”

Prior to bankruptcy, major hotel franchise Marriott confirmed it was interested in the Humber Valley area.

The new owners have indicated they will be looking into the possibility of establishing a hotel at the resort, which some have said would be an integral piece if the resort is to fulfill the vision of being a major international vacation destination.

Landing a high-profile brand such as Marriott would be a positive move, said Cooper, in that it would lure travellers to the region and would create economic spin-offs.

One thing Cooper does not want to see is a plethora of resort-style developments inundating the area.

“I think creditors — banks and investors — may be a bit cautious, given what’s happened in the past, but I think entrepreneurs can still see some real benefits that will accrue,” said Cooper.

“The question is how much development can the west coast of Newfoundland sustain in terms of the number of resorts? ... That competitive advantage could be lost if there is resort after resort after resort.”

link to original Western Star article

Press release from the Humber Valley Resort consortium

noreply@blogger.com (We're CrazyAboutNewfoundland.com - Are you?) — Sat, 13 Mar 2010 08:54:00 GMT

(Presented by Katie Watton at the HVR Club House on 12th March 2010)

PRESS RELEASE HUMBER VALLEY RESORT

Noton Enterprises Limited, a numbered company, 61839 Newfoundland and Labrador Limited, and Oke Consultants Limited, all locally owned companies, have formed a joint venture partnership and have purchased the assets of Humber Valley Resort. The new owners intend to operate and manage the Resort under a new corporate entity: Humber Valley Resort Corporation (2010). I, Katie Watton, will be the Public Relations Director, Gary Oke the Managing Director of Operations and Graham Watton, Q.C., General Counsel looking after all corporate and legal matters.

We will be focusing on making that which is already on site work properly so that the Resort can become the success it already has the potential to be. First let me state that Humber Valley Resort is one of the best things that has happened to the West Coast of this beautiful Province. The vision was and still is spectacular, unfortunately the execution was less so, but that is the past. We have to put the past behind us and move forward. All that the Humber Valley and the West Coast has to offer is still here and that hasn’t changed - the scenic beauty and renowned hospitality which attracted people to come here in the first place remains. We intend to promote and develop Humber Valley Resort as a 4 season Resort Destination.

We do not intend to move away from the Resort concept. However, we are confident that by combining permanent residents and seasonal and holiday residents we will attain the best of both worlds and a perfect balance.

A major concern for many of the successful resorts in Western Canada - Fernie, Panorama, Golden, Radium Hot Springs, Kimberly and the like is that chalets are sold exclusively as second or vacation homes and the resorts become desolate ghost towns in the off season.

These resorts are now moving to a mixed residency, both permanent and seasonal residents, and we are convinced that by using this approach we will avoid these “down periods” and maintain the Resort’s vibrancy.

Some of the Humber Valley Resort’s permanent residents are former vacationers who fell in love with our community, the people, the scenery, our warmth, culture and our way of life.

People from all over the world call Humber Valley Resort their home. For some, it is a vacation retreat, and for others it is a permanent residence. As a resident of Humber Valley Resort your neighbours are from all over the world - England, Ireland, Switzerland, Germany, various other places throughout Europe, various parts of Canada and Newfoundland. An exciting and stimulating mix of ideas and cultures.

We will shortly be meeting with the chalet homeowners association to work out and arrange a smooth transition and takeover of the operation, management and provision of all of the essential services to the Resort. A lot of work has to be performed to improve and upgrade the existing services, the roads, the communications, etc. We will start immediately.

With our very capable team which we will shortly be putting into place and under the supervision of our capable Managing Director, Gary Oke, we will get the Resort’s Golf Course in shape as one of the best golf courses in Canada. The Resort and the golf course, which is an 18 hole, Par 72 championship golf course, has won some excellent awards in the past - Humber Valley River Golf Course voted “Canada’s Best New Course 2007" - voted Worldwide Resort of the Year 2006 and 2007 - Best New Canadian Course, 3^rd place - Best New International Course. Under the capable management of Gary Oke we intend to win further awards for the Humber River Golf Course and the Humber Valley Resort.

The cost of the green fees will be reasonable - we intend to attract more members, visitors, golfers and tourists, who hopefully will come for several days - possibly weeks - and stay at the chalets at the Resort and vacation throughout Western Newfoundland and the Northern Peninsula, bringing economic benefit throughout the region.

Maintenance and rental of some of the chalets are presently being serviced and rented by a number of rental and management companies, including some owners themselves. We will shortly meet with these firms and individuals and the chalet homeowners association. We will consult with the chalet homeowners association and will have discussions with all of the interested parties with respect to the various property maintenance and rental management scenarios which are available and what would be in the best interests of the chalet owners, Humber Valley Resort and the people visiting and staying at the beautiful chalets in Humber Valley Resort.

We will also shortly be working towards getting the Eagles Perch Club House building up and running and available for special events, meetings, conventions, weddings, and the opening of the Dining room, the bar, and the golf shop. We have plans to provide themed events at the Eagles Perch at various times of the year and to providing seminars and weekends to include culinary instruction, wellness and personal development, and golfing seminars, etc. Within a short period of time we will be creating between 30-40 new jobs.

With the purchase of the Resort assets, the new owners have also purchased all of the intellectual property, copyright, trademarks of Humber Valley Resort. Humber Valley Resort has also in the past been honoured with 3 substantial website awards. The Resort also took top honours at the Silver Spider Web Awards. Humber Valley Resort walked away with awards for both site promotion and best overall site. We will be updating the website of Humber Valley Resort.

We will be giving serious consideration to a 4 star hotel in the Resort’s future plans, and incorporating and taking advantage of the Provincial Government’s Incentive Tax Credit Program. We are well aware of the recent announcement and the various comments concerning the proposed Resort developments in the Steady Brook area and we wish the developers every success.

However, we strongly believe there is room in the Humber Valley Resort for a 4 star hotel-condominium complex. We have the location, the infrastructure, the international world class golf course and the spectacular

Eagles Perch Club House, its Dining and conference facilities, meeting and banquet rooms and available lands adjacent to Eagles Perch which can accommodate the construction of a 4 star hotel-condominium complex.

We are not making any big promises, however, we do realize that to take advantage of the Provincial Government Incentive Tax Credit Program, we will have to make a decision on the 4 star hotel-condominium complex within the next 12-18 months.

We will consult with all stakeholders and keep them informed - the chalet homeowners association - the chalet owners - the Provincial Government - the Department of Tourism - Hospitality Newfoundland and Labrador - the various municipal councils throughout the Humber Valley region, Western Newfoundland and Northern Peninsula.

We intend to provide the chalet owners association, the chalet owners, all of the stakeholders, and the public with thorough and honest communication in all aspects of the Resort’s operation to instill confidence and trust in the Resort and its new owners.

Our goal is to get the Resort and golf course back into operation and further develop and promote the Resort as a four season Destination and an upscale residential community.

We have had an opportunity to recently review the Provincial Government’s long-term vision and plan which was released last February, titled Uncommon Potential - A Vision for Newfoundland and Labrador Tourism”, which provides a framework to guide both the Provincial Government and their industry partners as we all work together to advance tourism in Newfoundland and Labrador through to 2020.

As the Premier said in his message and opening remarks in the Plan:

“As residents, we know our province is a special place, unlike any other. Similarly, we recognize that the opportunities and challenges we face are unique to Newfoundland and Labrador. This plan is designed to address the challenges and make the most of our competitive advantage in the global tourism marketplace - the fact that we offer unique travel experiences to visitors interested in taking an exciting adventure off the beaten track.

In Newfoundland and Labrador, surprises wait around every corner and the possibilities are endless - hiking the stunning coastlines, attending festivals celebrating everything from blueberries to squid, experiencing our rich and vibrant culture and heritage, witnessing natural wonders such as whales and icebergs, and meeting strangers who quickly become friends. Living here, it is sometimes easy to lose sight of the fact that these are, indeed, “uncommon” experiences.”

I would also like to refer to another couple of paragraphs noted in the Plan under the heading of Transportation Strategy to Grow Our Industry:

“For Newfoundland and Labrador, there’s no such thing as an accidental tourist. It takes deliberate planning and determined effort to visit here.

The transportation issues facing tourism in Newfoundland and Labrador are well understood and frequently articulated among industry stakeholders. In short, travel to, from, and around the province, whether by sea, air, or road is constrained by issues of affordability, capacity, infrastructure, and quality.

To compete effectively in an increasingly aggressive global market, we need the ability to bring travellers to the province in an easy, cost-effective, and pleasurable manner - by sea, by air, and by land. There is an immediate requirement for improved, affordable, and efficient access to and within the province. It’s the most critical element to stimulate inbound tourism. And it will have considerable influence on our industry over the next decade.

Access by Air. Air passenger travel accounts for approximately two-thirds of non-resident visits each year. Our response to strategic transport challenges identified in the Government of Newfoundland and Labrador’s ‘Air Access Strategy’ and through other forums is vital to the future success of our industry.”

We will work with the Provincial Government, Hospitality Newfoundland and Labrador, and all of the stakeholders in promoting Humber Valley Resort and our beautiful province of Newfoundland and Labrador.

The total annual budget being spend by the Provincial Government for tourism marketing is now 13 Million (from 6 Million in 2003). The tourism industry contributed almost 850 Million to the provincial economy in 2008, up from 790 million in 2007.

The Provincial Government is very committed and is doing an excellent job in marketing Newfoundland and Labrador nationally and internationally. The Provincial Government’s campaign continues to fulfill their main objective - promoting Newfoundland and Labrador as a Destination of Choice. As recently as February 1 of this year in New York City, Newfoundland and Labrador’s “Find Yourself Home” television campaign which was developed in collaboration with Target Marketing and Communications Inc., was awarded platinum honours at the Adrean Awards Gala. (I would further note that only 20 platinum winners were named from more than 1,100 entrants during the award ceremony.

Humber Valley Resort, the chalet owners, Humber Valley and Western Newfoundland will all benefit as a result of the tourism marketing on the part of the Provincial Government. We all have to play our role. We are all ambassadors on behalf of the Province. We want all of the public to know, people throughout Humber Valley, the Province of Newfoundland and Labrador, throughout Canada, the United States, Europe, nationally and internationally, that we are open for business - the security gate is not a barrier - the staff are there to welcome you - come visit us - play on our international golf course - fish in our world class salmon river, the Humber River - enjoy our cuisine, interact with the local residents - stay in the beautiful chalets on the Resort - take in the spectacular views of the Valley - experience our culture, our ideas, our way of life - do what I did. I came here 35 years ago from London, England, for the experience, for a 3 month period, and here I am 35 years later. I stayed for the lifestyle.

And that is our vision - “Come For The Experience, Stay For The Lifestyle”.

Thank you.

Humber Valley resort is sold!

noreply@blogger.com (We're CrazyAboutNewfoundland.com - Are you?) — Fri, 12 Mar 2010 05:24:00 GMT

We're told that the what's left of Humber Valley Resort was finally sold 10am 11th March 2010.

A public meeting on the 12th will tell everyone more ...

Free Canadian Avalanche Foundation Slide Show and Fundraiser

noreply@blogger.com (We're CrazyAboutNewfoundland.com - Are you?) — Thu, 11 Mar 2010 06:21:00 GMT

Free Canadian Avalanche Foundation Slide Show and Fundraiser

Last year we had a very successful silent auction and avalanche film fest. Over 35 people attended and hopefully this year will be even bigger. This is what is planned:

A slide show of the snowmobiling in the Lewis Hills by local photographer Scott Grant who has some excellent images of this backcountry area.

Then the launch of a new web page highlighting the areas of avalanche hazard in the Lewis Hills to the North Arm Mountains. This should help people plan routes for the Lewis Hills, Blow me down Mtns and North Arm Mtns and want to avoid the main avalanche areas.

This will be followed by a silent auction of avalanche gear and other outdoor clothing plus a night at Marblewood Village and a 2011 Snowmobile Trail pass.

This free event will be held in Room 315 at Sir Wilfred Grenfell College on Tuesday, March 16, 2010 from 7:30 - 9:00 pm. For more information contact Keith Nicol at knicol@swgc.mun.ca

My Newfoundland Adventures ... Solicitor says "you're on your own mate!"

noreply@blogger.com (We're CrazyAboutNewfoundland.com - Are you?) — Sat, 23 Jan 2010 18:57:00 GMT

We have been seeking the return of our snowmobile gear (14xsuits, 15xhelmets, boots etc), and unpaid monies from MY NEWFOUNDLAND ADVENTURES for the last 15 months. It's been hard work and cost ... despite us clearly owning the gear, (having the receipts etc) and coutless emails from him and his local "business mentor" Mike J, confirming the agreements between us. The company and its owner, director, and only real employee, Martin (aka Marty) Hanzalek has refused to talk to us, or respond in any sensible manner.

When I visited the shop (in December 2009) to ask for the gear face-to-face, he called the police using 911, (aka 999 in the UK, can you believe it????!!!!) and pretended that I was threatening staff and scaring customers. Unfortunately for him I had recorded the whole situation and the police were very interested to hear the recording, and the fact that there were NO staff, and NO customers in the shop at the time - and all the claims of his were false and lies! They were looking at prosecuting him for wasting police time and false accusation. I was told by the police that they've experienced similar previously from him ...

So after 15 months ... we finally have gone through the legal process and swapped evidence prior to "discoveries" (which is the stage before court, allowing both parties to face-up and be clear on their position). Unfortunately, the My Newfoundland Adventures solicitor did not send their evidence against us, or defending them. Why? Because he wasn't getting paid!

Just after Christmas the MY NEWFOUNDLAND ADVENTURES solicitor went to the Supereme Court to request authority to be removed from the case he had previously been defending, on the grounds of not being paid by his client (MNA aka My Newfoundland Adventures)!!!!

Our claim against MY NEWFOUNDLAND ADVENTURES is over $20,000 and the return of our snowmobile gear. (This is all public domain information).

Now he feels he can carry on without response to our attempts (over the last 18 months) to find an amicable solution ... strange behaviour! ... its so unlike real Newfoundlanders ...

YOU HAVE BEEN WARNED!

Website award for CrazyAboutNewfoundland website developer ** (or is it??)

noreply@blogger.com (We're CrazyAboutNewfoundland.com - Are you?) — Sat, 9 Jan 2010 21:24:00 GMT

The designer of the CrazyAboutNewfoundland.com website (Daniel Gray) also built from scratch the new My Newfoundland (mis)Adventures website ... which was awarded the The Telegram 2008 the "Silver Spider Web Awards for Best Site Promotion" managed by Newfoundland's "The Telegram" newspaper ....

Bizarrely the owner of the company (Marty Hanzalek) who attended the awards ceremony to collect the award, has still not paid the designer for his work and the website copyright!

The lack of payment or even recognition is an ongoing issue ... which the web designer is now progressing through legal channels.

Meanwhile, anyone dealing with this company and Mr Martin (Marty) Hanzalek should be fully aware of his business practices. You have been warned!!

The website recognition - but to the right person???

** Award went to the business owner who had not paid the developer

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What happens when you ask for your stolen gear back .... ???

noreply@blogger.com (We're CrazyAboutNewfoundland.com - Are you?) — Wed, 6 Jan 2010 20:01:00 GMT

So we visited My Newfoundland Adventures last week, to ask face-to-face for our stolen snowmobiling gear back, (he has our 14 blue snowmobile suits, black helmets, boots and more!) and he refuses to even talk to us about it, let alone return them.

On entering the shop at Steady Brook, I meet Mr Marty Hanzalek the owner and principle in our situation.

"Hey, Happy New Year" I offer, "... I'm here to collect my stolen equipment".

"GET OUT OF MY SHOP, OR I'LL CALL THE POLICE" is the unsurprising response.

"Go ahead, I'm happy for you to call the police, after all you are holding my stolen equipment!". Getting no where (and after a total of 30 seconds) I leave, with Hanzalek on his phone ...

Later we get home and find a police calling card. We respond by email, but get nothing back, so 24 hours later we call into the police station, and find the police officer.

We had an interesting conversation. Turns out Hanzelak called 911 !!! I pointed out that in the UK someone ringing 999 inappropriately is deemed "wasting police time". He shrugs and says its the same here, but he says you were threatening staff and scaring the customers.

"Oh I see ... well perhaps you'd like to hear the conversation we had" I say, putting my recording device on the table and pressing play!

Having listened to the 40 seconds recording, he expressed disgust in the wasting of police time, and the issue of false accusation in the report. There were no staff present. There were no customers. There were no threats, nor shouting. Just a repeated calm request for the return of our stolen equipment. I left the officer, considering what to do with Mr Hanzalek and his false accusations plus wasting of police time and inappropriate use of 911.

So, if you see Marty Hanzalek or My Newfoundland Adventures this winter ... don't forget to ask "Are you going to return the stolen snowmobiling equipment?"

thanks!

ADD YOUR COMMENT? CLICK HERE

Santa is on his way to Newfoundland ...

noreply@blogger.com (We're CrazyAboutNewfoundland.com - Are you?) — Thu, 24 Dec 2009 14:34:00 GMT

There might not be much snow in Western Newfoundland, but at least we can rely on Santa to deliver ... You can track his progress across the world heading for Newfoundlan on the link below.

MERRY CHRISTMAS TO ALL WHO ARE CRAZYABOUTNEWFOUNDLAND

Daniel
We're CrazyAboutNewfoundland.com ... Are you?

Track Santas progress from this mapping link ...

Business scruples ???

noreply@blogger.com (We're CrazyAboutNewfoundland.com - Are you?) — Wed, 4 Nov 2009 20:56:00 GMT

Someone recently asked why my website at www.crazyaboutnewfoundland.ca looks similar to the My Newfoundland Adventures website at www.mynewfoundland.ca ...

I had to explain to them that I created (and paid for) the design and its copyright, and built both websites using dreamweaver/CS3, php, mysql and various javascript extensions. The design in every sense is owned by me, and though built for My Newfoundland Adventures and its owner Mr Marty Hanzalek, he has ever since refused to pay for the design copyright and the many hundreds of hours I spent building the dynamic websites database and back end pages.

He now claims he owes nothing - and as he now won't even talk to us to try to work out the situation, we're about to debate the point in the Newfoundland Supreme Court.

I just wanted those that had spotted similarities to know that there is no business relationship between this website, its owners etc, and My Newfoundland Adventures and its owner Mr Martin Hanzalek.

~~~~~

By the way, this is not the only thing we will be debating at the Supreme Court as we have several other major issues with this 'company' that we need to sort out. No doubt these will be aired in the near future by the appropriate channels.

Six things you must do in... Newfoundland

noreply@blogger.com (We're CrazyAboutNewfoundland.com - Are you?) — Mon, 28 Sep 2009 19:30:00 +0100

Newfoundland is the closest point in Canada to Britain, a five-hour flight away.

Gareth Huw Davies's list of things you shouldn't miss during a visit to this stress-free island includes mountain walks, whale-watching, icebergs and Viking remains, seriously fresh and tasty fish dinners - and a welcome that is second to none . . .

1: COLOURFUL HISTORY

We landed in the provincial capital St John's, a pretty little city of brightly coloured wooden houses built on steep streets spilling down towards the harbour. It is the oldest English-founded settlement in North America.

There are lively bars, good restaurants - the young waitress in Ches's Fish and Chips in Freshwater Road was one of the most helpful I have ever met - and homely guesthouses.

The big attraction in St John's is Signal Hill Historic Park. This is where, in 1901, Guglielmo Marconi received the first transatlantic wireless message - three dots sent from Cornwall.
At the new Johnson Geo Centre (www.geocentre.ca), there is an exhibition on the Titanic, which sank 350 miles off the Newfoundland coast in 1912.

2: WHALE WATCH

Out of the calm, grey water at Cape Spear came one of the most exciting sounds in the animal world - a whale spouting only yards offshore.

In Africa and elsewhere you usually have to go deep into the wild to encounter great beasts. In Newfoundland, you find awesome creatures within walking distance of the main city.

On another occasion we saw whales breaching - flipping out of the water - as we ate at the Lighthouse Restaurant, on a promontory above St Anthony in the far northwest.

The sun was also glinting on an iceberg. They drift past majestically all summer long.

3: THE OTHER IRELAND

Set aside a week to drive around Newfoundland in a rough triangle with sides 250 miles long (visit www. frontier-travel.co.uk for fly-drive ideas).

Easiest to reach, on empty roads south of St John's, is the Avalon Peninsula, where people such as Rita (she runs the Hagan's Hospitality Home in Aquaforte) speak with an accent fresh-minted in Limerick.

This is said to be the most Irish place in the world outside the Emerald Isle itself. Immigrants first came for the teeming shoals of cod on the Grand Banks, now tragically depleted.

When we checked out of Rita's hotel, she handed us gifts of home-made chowder and a jar of jam, made from the abundant local cloudberry.

We took a whale-watching boat trip at Bay Bulls and counted the puffins hurtling across our bows.

4: ONE TO CATCH

On our first visit to Fishers' Loft, a handsome and comfortable small hotel in Port Rexton, Dame Judi Dench and Kevin Spacey had just checked out after shooting The Shipping News.

We heard a wonderful story about Spacey sending his bodyguards home because there was nobody to guard against.

The movie, set on the east coast of the Bonavista Peninsula, makes this area look bleak and eccentric when in fact during the summer it's a pleasant stretch of little bays, inlets and headlands.

And you are guaranteed a welcome that humbles you. 'How have all you folks been today?' was a normal enquiry from complete strangers we met on a footpath.

Fishers' Loft (www.fishers loft.com), which has an excellent restaurant, is run by Englishman John Fisher and his Canadian wife.

5: VIKINGS'BRAVE NEW WORLD

We flew from St John's to St Anthony to see positive proof that the Vikings set foot in North America around 1003.

On the flat coast at L'Anse-aux-Meadows is the continent's only authenticated Viking settlement site, discovered in 1960.

We toured rebuilt turf-walled longhouses and a replica Viking furnace and collected pebbles on which 11th Century explorer Leif Ericson might have stubbed his toe.

At the southern end of Newfoundland we made our oddest day-trip ever. The tiny islands of St Pierre and Miquelon (population 6,125), a 90-minute ferry journey from Fortune, are an overseas French territory.

Islanders use the euro, gendarmes protect them and Nicolas Sarkozy is their President. During the Prohibition era, Al Capone trafficked illicit liquor through here.

6: MOODY AND MAGNIFICENT

You don't have to take the long haul to Calgary or Vancouver to experience Canada's mountain wilds.

Newfoundland offers an accessible wilderness in the Gros Morne ('Big Gloomy') National Park, 420 miles west of St John's.

Geologists drool over this big upsurge of rust-coloured mountains, lonely fjords and forest. Around 570million years ago, two land masses, driving at each other like rugby forwards, forced part of the Earth's mantle to the surface.

An area known as The Tablelands is the centre-piece of this Unesco World Heritage Site.

Take in the spectacular terrain by car, on foot, by bike or by kayak. Boats take you into the heart of this untamed place.

There is a good choice of hotels and inns in the area (see www.grosmorne adventures.com or www.newfound landlabrador.com).
__________________________________________________

By Gareth Huw Davies - 27th September 2009
Original article from DailyMail.co.uk
www.crazyaboutnewfoundland.ca/newfoundland

Humber Valley Resort - Holiday Chalets

noreply@blogger.com (We're CrazyAboutNewfoundland.com - Are you?) — Thu, 13 Aug 2009 17:52:00 +0100

Humber Valley Resort is very much still open for business! The summer, whilst of course quieter than previously, partly due to the lack of direct flights and the current uncertainty, is actually busier than one might expect.

Visitors are still blessed a beautiful landscape, culture and authentic experience. It still all about the people - and there are plenty of opportunities and activities to try out.

Humber Valley Resort chalet owners are now working with a variety of partner companies to promote their chalet vacation rental. The challenge for everyone involved with the resort is the need to maintain the standards that are expected.

The HVR Chalet Owners are now promoting their chalet and their partner company via the CrazyAboutNewfoundland.ca website.

Check out www.hvrowners.com/rental to see what is available.

There are also a growing number of local families now living on the resort, and there is a lot of interest regarding real estate opportunities, looking for owners with their chalet for sale ... again these are promoted direct by owners at www.hvrowners.com/forsale

Everyone involved is CrazyAboutNewfoundland.ca ... Are you?

Golf is back at Humber Valley Resort

noreply@blogger.com (We're CrazyAboutNewfoundland.com - Are you?) — Fri, 19 Jun 2009 22:13:00 +0100

Just a quick blog to say Well Done to those involved in getting golf operations working again at Humber Valley Resort, Western Newfoundland, Canada. The River Course is truly a fantastic course and worth every effort to get to ... Have a look at what's there at www.crazyaboutnewfoundland.ca/hvr

Here are a few pics from Gary Kelly's recent visit to check it out.

Gary's full blog is at www.garykelly.ca/blog

I'm looking forward to getting out there as soon as possible!! (Jul/Aug)

Runway extension for Deer Lake Airport

noreply@blogger.com (We're CrazyAboutNewfoundland.com - Are you?) — Mon, 18 May 2009 20:12:00 +0100

Good news for Deer Lake Airport, with the announcement of a $9M investment in a 600 metre runway extension.

See the announcement on the link below:
www.deerlakeairport.com/files/newsRelease_Files/newsR43.pdf

And while we're at it, the airport has a new MUCH BETTER website ... www.deerlakeairport.com

Deer Lake INTERNATIONAL airport !!!!!!!!!!!!!!

noreply@blogger.com (We're CrazyAboutNewfoundland.com - Are you?) — Mon, 30 Mar 2009 18:32:00 +0100

At last !!!! Deer Lake Airport is declared as an international airport. Shame it didn't happen when British airways was looking for an airport to land prior to going on to New York (direct from City Airport).

Anyway ... its great news - and we all hope that the airport and its management can attract the international traffic the area desperately needs!

Lets ALL hope this will make the difference!!!
DG
_______

Western Star release:

The Deer Lake Regional Airport now holds Airport of Entry status.

The pronouncement of the status, along with $670,000 in new federal funding for the “enhancement of border services” at the airport, was made this morning at Deer Lake Regional Airport’s international arrivals lounge.

The news was delivered by Senator Fabian Manning on behalf of federal Minister of Public Safety, Peter Van Loan.

The immediate impact of the announcement, according to airport manager Jamie Schwartz, will be an increase in the airport’s ability to market itself for international flights.

“It gives us the opportunity to go out and pursue other new routes and other international traffic,” said Schwartz.

For more details, see Tuesday's Western Star.

HVR Assets get broken up - Strawberry Hill sold!!

noreply@blogger.com (We're CrazyAboutNewfoundland.com - Are you?) — Thu, 19 Mar 2009 19:09:00 GMT

The assets of Humber Valley Resort have been up for sale by tender for the last few weeks, and the resulting bids have now been evaluated by the court Trustees Ernst & Young.

Known bidders were the resorts original founder Brian Dobbin, and a chalet owners consortium led by Mike Ward- both bidding for the whole resort, and each with differing business plans. Dobbin's was associated with being granted further crown land and so based on selling more land and chalets to new owners, whilst Ward's Team were driven by developing the exisiting resort and attracting a big name brand to build a hotel to act as the central piece to the resort and drive new marketing efforts.

Well, the news is that neither have won, and the assets are being broken up!

Strawberry Hill and the Beach House are both being sold (to different purchasers).

Not sure what happens to the other remaining assets, particularly the golf course and the club house. However importantly there are other assets that can't be forgotten, including the water supply system, the resort roads, utilities, office block, and the bridge etc. These are all key to the resorts future, let alone its future success. Add to that the fact that the golf course will loose money for the next few years, until there are sufficent resort visitors (local and international) to make it pay.

The business plans for any tenderer will need to handle all these asset liabilities, whilst also producing enough income to make a successful business - and now it has to do it without two of the key assets that would have been successful at an early stage!

In making the decision to split up the assets, what is the motivation of the Trustee?

It's an easy answer - simply to recover some cash as quickly as possible.

Does the Trustee have any compulsion to ensure at least it leaves the resort and its chalets as a working concern? No, not at all - the Trustee is quite within its rights, in fact within its instructions to get maximum monies and then close the case. In fact one quote I've heard is, if (for example) the water supply service is not sold - it will simply be turned off!!

But where does that leave the resort, and those that are passionate about it? No-one can be really sure at this stage. But for sure, as the assets get split up, the chances for a successful future deminish.

The future is uncertain, and there is a lot for everyone to think about - but now it doesn't include Strawberry Hill nor the Beach House!

Fingers crossed.

ARTICLE: Group has bid for resort assets

noreply@blogger.com (We're CrazyAboutNewfoundland.com - Are you?) — Tue, 10 Mar 2009 06:35:00 GMT

Article on Western Star (Corner Brook) by Gary Kean

A management group led by a chalet owner has confirmed it has made a bid to buy Humber Valley Resort’s assets.

The deadline for the tender call for the bankrupt resort’s properties — including the golf course, restaurants, land and other holdings — closed Friday, and the resort’s trustee in bankruptcy now has until March 16 to decide what to do with the bids. The trustee, Ernst and Young, won’t say how many bids have been received, but a bid has been made by a group led by Brian Dobbin, the man who founded the resort that went into bankruptcy in December.

At least one other bid has also been made. A management group that includes Mike Ward and some other owners, in a prepared statement to The Western Star Tuesday, said its plan recognizes the “misguided focus” and the problems of the previous management teams, and knows what is needed to turn the resort around.

Previous plan failed

The previous failed business model of selling land at high prices, said Ward, clearly hasn’t worked and any plan with that as its short-term model will also fail. Ward said an operation which welcomes incorporating local residents is crucial. That would include less expensive green fees and special discounts for locals on the resort’s golf course, he said.

Even in the early days of his investment, Ward said he took exception to the fact there was no hotel in the resort’s plans, noting that is a common, central element to almost any other resort he’s been to around the world. He even disclosed his group has met with a major hotel chain he expects will set up shop at the resort if his group’s bid is successful.

Last fall, hotel chain Marriott told The Western Star it was “interested” in the Humber Valley, but would not confirm if anything was in the works.

Dobbin’s original plan included expanding far beyond the resort’s current footprint with more chalets and another 18-hole golf course. In a letter to the owners last week, Dobbin said the provincial government is still willing to discuss leasing that expansion land back to the successful bidder.

The expansion property was taken back by the province before the resort went bankrupt because the resort had not paid the annual rental fee on the land and had also not lived up to other conditions stipulated in the lease.

The owners’ group, however, plans to take things much slower.

“Building more properties in the expansion land is clearly not a focus in the short term, however there are several plots of land on the edges of the development which have no access,” said Ward. “Clearly, something would have to be done to bring them services and accessibility.”

When asked to comment on the situation at the resort, Tourism, Culture and Recreation Minister Clyde Jackman deferred to Justice Minister Tom Marshall, who represents the Humber East district where the resort is located.

Marshall would not comment on the specific bids, but did say the province was willing to enter negotiations with the successful bidder about the Crown lands the resort had wanted to expand into.

“People are entitled to apply for Crown land, but that’s not to say they would get that land,” said Marshall.

Ward did not want to comment about any others bidding for the resort’s assets, but did say the majority of chalet owners do not want those responsible for Humber Valley Resort’s downfall to be involved again.

“Their credibility has been ruined and the history will make it hard for them to be trusted again,” he said. “This would be a disaster and I’m not sure where it would lead — they should not be allowed to bid without an investigation into the dealings at the resort. Sometimes you have to just look at the bigger picture and do what is best for the resort and the local community. This might mean withdrawing from the process and wishing another bid the best of success — it takes somebody who is magnanimous to do this.”

Ward said the previous management teams don’t seem to accept responsibility for the consequences of the resort’s downfall. The owners left in the wake of the bankruptcy, he added, and now want to control their own destiny when it comes to the operation’s future.

Owners consortium bid to buy HVR assets ...

noreply@blogger.com (We're CrazyAboutNewfoundland.com - Are you?) — Mon, 9 Mar 2009 21:21:00 GMT

The following "bid news summary" is from the HVR bid consortium led by Mike Ward:

On Friday 6th March a bid was submitted by Mike Ward and his team of Owners at Humber Valley with a view to buying the resort assets and running a successful commercial business.

The plan recognises the problems of the previous management teams and misguided focus, and what is needed to turn the resort around. The previous failed business model of selling land at high prices clearly hasn't worked and any plan with this as the short term model will fail.

The resort needs to implement a successful operational model to bring in local people which in our view is absolutely key to the success of the resort. The golf course would be run by a professional golf course resort management team and would ensure that the green fees would not be at the previous high levels. The golf course is exceptional, won many awards, and we would want to ensure that local people benefit from this experience. We intend to encourage local golfers to play more on the course with special discounts for locals.

Many Owners felt the original HVR strategy was failed by the lack of a planned hotel operator for the resort in the early days. Many successful resorts around the world have the common theme of having a hotel at its centre, and it being the heartbeat to the resort. This would often include restaurants, fitness centre, swimming pool etc. This is key to the success of the resort and the team has already had positive meetings with a large professional chain and would expect to sign contracts with the group if successful with the bid.

When asked about building more properties on the expansion land Mike Ward explained that there were many properties on the original land that needed to be finished first, adding "Building more properties in the expansion land is clearly not a focus in the short term, however there are several plots of land on the edges of the development which have no access. Clearly something would have to be done to bring them services and accessibility"

Asked about the other bids on the table he preferred to focus on his bid which is clearly what is needed at the resort. A professional hotel chain, potentially with a conference centre and a golf course operator is needed to give people the experience so they want to come back again and again.

Asked about other people who have been involved in the failure of the resort coming back he said "Their credibility has been publicly ruined, and the history will make it hard for them to be trusted again. This would be a disaster and I'm not sure where it would lead - they should not be allowed to bid without an investigation into the historic dealings at the resort, sometimes you have to just look at the bigger picture and do what is best for the resort and the local community. This might mean withdrawing from the process and wishing another bid the best of success - it takes somebody who is magnanimous to do this".

The vast majority of the owners would like the owners-led bid to succeed. In our opinion the owners feel strongly that they were badly let down by the previous management teams at HVR and now want to take control of their own destiny. The previous management teams do not seem to be accepting responsibility for the bankruptcy of the resort, and the severe financial consequences for both the owners and trade creditors.

Asked about his motive to get involved he said "it's a case of having too. I have several properties and numerous plots of land. If this resort fails then everything I've spent the last 30 years working for is lost". When making a decision to bid it was not a difficult one because he is so passionate about the people and the area. Asked if he could see himself living in the area the answer was "yes that was always the long term plan. It just seems it might happen quicker than planned"

Brian Dobbin announces his HVR bid to Owners

noreply@blogger.com (We're CrazyAboutNewfoundland.com - Are you?) — Mon, 9 Mar 2009 19:05:00 GMT

Brian Dobbin declared his bid for Humber Valley Resort assets late last week by emailing some HVR chalet owners.

One immediate comment from me, Brian refers in his letter to "anonymous blogs on the owner website". I'd just add FYI that we have over 400 owners, over 1,000 site emails between owners, 780 forum entries, across 199 subject titles - of which 1 (one!) was made anonymous simply to evaluate if having your name detered some owners from participating.

Anyway, read the letter below. Your comments are encouraged and welcome here, and on the Gary Kelly blog where there is a stream of previous comments!

______________________________________________

Dear Humber Valley Resort property owner,

As you will have seen by Mike Ward's email, the tender for the purchase of the Humber Valley Resort assets is due. One falsehood spoils a hundred truths, so I am corresponding to let you know that I am leading a group to purchase the assets. As many of you may know, I began the resort and Strawberry Hill in the Valley over a decade ago.

The simple history of Humber Valley Resort is that I raised
approximately $15 M CDN in the late 90's in Asia and built the first access to
the land and started the first marketing efforts. We then sold over $60 M CDN of
land which was re-invested back into the resort, including over $20 M CDN in
construction losses from the home cost escalations as we built out the first 200
homes. I then sold the resort into a public company, which allowed for another
approximately $40 M CDN to be invested in the resort and its operations. This
included flights, tourism marketing, and paying the operating costs of
everyone's chalets for the first two years of the resort's operations.

The short story is that a lot more money went in than went out, and I do
not think my commitment to the future of tourism in Humber Valley should be
questioned, especially not on anonymous blogs on the owner website. I also
continue to own and use properties at the resort and am not trying to sell them.
I believe that the majority of owners bought their property to enjoy the resort
and surrounding area, as I do, and commiserate with those who bought for
property speculation and have not sold yet. Both parties are best served by a
continuation of the resort's growth as a destination.

I did not take a dividend at any time from the growth of HVR, reports of a pay-out were
unfortunately false. I do have 50 million Newfound shares that I can paper my
home with however. I left the public corporation in 2007 as I was tired of
fighting directors over control of the company and wanted to give those who
criticize the opportunity to take the lead. In the period since then I have
spent more time at Humber than I had in the previous five years. This time
reinforced why I love the place so much, and the fun that can be had here side
by side with spectacular nature and retreat.

We made the tourism operations profitable at Strawberry Hill Resort with a small dedicated team and little overhead. Humber Valley Resort grew into something that could not work. Some of the parts we were forced into - like picking up the flight cost five
years ago and continuing them when our first travel partner could not, and
having to market the destination because the provincial government would not.
What we ended up with was one company trying to do 15 jobs and doing them
not-so-well. The bankruptcy has caused all those pieces to fall on the ground,
and they are being picked up now by a number of different stakeholders and
interested parties.

The roads and water have been admirably dealt with by the owner association to date, but given the problem of enforcing cost recovery without legal right, the two local municipalities looking to take over their upgrade and maintenance makes the most sense. This is what is done at the Whistler and Mount Tremblant resorts in Canada. The maintenance and rental of Humber chalets is being serviced by at least a dozen smaller companies now, and this also is the norm in a resort town.

The government has come around a lot since the resort went into protection and then bankruptcy. The impact on the local economy has been noticeable and they are committed to participating more in the future. Being a third generation businessman in Newfoundland, I understand the politics here, and what is noticeably different now is the
province has been enjoying a budget surplus for the last while before the economic crisis and will do so again this year if the price of oil moves a reasonable amount. This is the first time in two generations that has happened and we believe the decision-makers in the provincial government are serious about investing in tourism growth here with us now. More direct flight access is being investigated and support of the local industry association and specific international marketing help for the Valley has been promised.

What is left in operations is the golf/clubhouse, the Beachhouse, and Strawberry Hill.
Our group intends to make all three separately owned and operated businesses,
co-operating together and offering different products. We will be bringing back
our best people who made you want to be here in the first place. We are also
bringing some new people in that will help attract new domestic markets for the
next years. We are now the best resort destination by far on this side of
Canada, and we will take advantage of that. We believe we can renew the magic
that Humber had it is really the people. I looked long and hard at branded
international operators and the reality is that they would be fish out of water
here at this stage of growth and would simply be too expensive to pay in any
regard.

We expect to lose some money in the next few years, but we can
make all three operations what Strawberry Hill was. We have the means to weather
the financial downturn for the next years and we will keep our overheads as low
as possible while creating three great experiences. Development talk for the
next years is premature. The only immediate concern is those who are on the
edges of the resort and the infrastructure that needs to be finished there. This
itself will take time to address as only new sales will drive it. We first need
to get the people who want out of the resort replaced with people who want in.
That will only happen with a good tourism experience, so we all agree what has
to happen. I believe we best know how to develop and sustain a great experience
at the resort.

I did not intend to communicate with the property owners as a whole until the bids were complete and the deal made, but I thought it time to let everyone know another side of what is happening. Should we be successful we shall contact again with more detail.

Brian Dobbin

We're CrazyAboutNewfoundland.ca ... Are you?

Jayne McGiven in talks for new development venture?

noreply@blogger.com (We're CrazyAboutNewfoundland.com - Are you?) — Mon, 9 Mar 2009 18:00:00 GMT

Jayne McGivern, who this week stepped down as chief executive of AIM‑listed leisure developer Newfound, is understood to be teaming up with Mikola Wilson to launch an opportunity fund.

McGivern, who was formerly head of Multiplex UK, relinquished her £500,000 pa role as chief executive of Newfound after plans to take the company private collapsed. She said: “Despite us getting shareholder approval for the privatisation, which would have helped us to raise cash, the move was scuppered at the last minute by our debt provider, [French hedge fund] Agilo, which demanded new lending terms that we find onerous.”

Sources said that McGivern was now in talks with Wilson, who runs niche investment firm Seven Dials Fund Management, to launch a new venture. It is expected to target high-yielding, income-producing assets with latent development potential. The new business is also being mooted to take over the day-to-day management of Newfound.

McGivern refused to comment on the new business.

www.egi.co.uk

Humber Valley Resort - Tenders stage closed!

noreply@blogger.com (We're CrazyAboutNewfoundland.com - Are you?) — Sat, 7 Mar 2009 08:29:00 GMT

So bids are in for Humber Valley Resort assets, and the Court Trustees (Ernst & Young) have on Friday 6th closed that stage of the tender process.

We now have to wait to hear who has bid and what conditions they have set against their offer. It's bound to be a complicated process and it will be interesting to see if any of the bidders have linked their offer to provincial confirmation of the availability of the expansion land to the east of HVR.

Two bidders we do now about for certain: Brian Dobbin wrote to Chalet Owners on Thursday 5th declaring his intention to bring back some of the personalities of the past and to rebuild HVR. Additionally a group of chalet owners have been working on their bid over the last two months. We'll hear more about both of these and any others bidders this week.

More news soon ...

McGivern steps down as Newfound warns of risk of collapse

noreply@blogger.com (We're CrazyAboutNewfoundland.com - Are you?) — Tue, 3 Mar 2009 16:02:00 GMT

Jayne McGivern has resigned as CEO of AIM-listed resort developer, Newfound, as the company warned of a risk of collapse.

Article on Property Week website

Newfound said that McGivren’s departure was a result of it restructuring of its operations and management to cut costs, and warned that without new funds, it would ‘cease operations’.
It said this morning: ‘Unless new finance can be found for the group over the coming months, there is a risk that the Company will exhaust its cash resources, in which case it will need to cease operations.’

McGivern, a former Multiplex UK chief executive who took over last year, will remain on the board of the company but be replaced in the interim as CEO by Stephen Bentley, who is currently the finance director.

The day-to-day management of the company will be outsourced to a management company, and then Bentley will step down from his role as CEO and finance director to become a non-executive director.

Richard Foley has also resigned as a director, but will remain an employee of the group overseeing Newfound’s Caribbean projects.

John Morgan, acting chairman of Newfound, said: 'It is clear in the current financial market that property development companies are struggling to raise capital to fund projects. Newfound is no exception to this and the board has decided that the company needs to restructure its operations and executive management to reduce its expenditure.'

___________________________

STATEMENT TO THE LONDON STOCK EXCHANGE

RNS Number : 1740O

3 March 2009
Newfound N.V.
('Newfound', the 'Company' or the 'Group')
Board Changes and Restructuring

Newfound N.V. (AIM: NFND) announces that Jayne McGivern has resigned as an Executive Director and Chief Executive Officer of Newfound NV with immediate effect. Ms. McGivern will however stay on the Board of the Company as a Non-Executive Director. Richard Foley has also resigned as a Director with immediate effect although he will remain an employee of the Group overseeing Newfound's Caribbean projects.

For an interim period, Stephen Bentley, who is the Finance Director, will also assume the role of Chief Executive Officer while the Board seeks to outsource the day to day management of the Group's activities with a management company or similar. Upon procurement of such a management contract, Mr. Bentley will step down as Finance Director and Chief Executive Officer and become a Non-Executive director.

John Morgan, Acting Chairman of Newfound NV, commented today:
'It is clear in the current financial market that property development companies are struggling to raise capital to fund projects. Newfound NV is no exception to this and the Board has decided that the company needs to restructure its operations and executive management to reduce its expenditure. As a result, Jayne McGivern moves to a non-executive role while Stephen Bentley will take over as CEO on a part-time basis whilst the Board looks to put in place a management contract.

Jayne will continue to have oversight of the plans for the Company's main assets in the Caribbean although, as a non-executive director, she will not work on the project day-to-day. I would like to thank Jayne for all her work during a very difficult period for the Company. She has achieved much in the last 6 months and I am delighted that we will retain her expertise on the Board.

I would also like to thank Richard Foley who has done sterling work on our Caribbean projects as the main planner behind the developments. Although Richard is leaving the Board, he will continue to oversee the Company's Caribbean projects.

Newfound remains a company with assets in the Caribbean that have real potential. I am pleased with the plans developed by the Company for those assets and with the progress made with the two projects. Nevertheless, it is a company with limited financial resources and the above board changes are designed to conserve those resources and allow it to maintain the priorities of continuing to service its debt, negotiating new finance and ensuring that the Company is well-placed when the development market recovers and credit becomes more readily available.

Unless new finance can be found for the Group over the coming months, there is a risk that the Company will exhaust its cash resources, in which case it will need to cease operations. The Board continues to evaluate the Company's financial options and will keep shareholders fully informed over the coming months.'

They might not be, but we're CrazyAboutNewfoundland.com ... are you?