NH Resources

  The Business Finance Authority is set to vote in March on the Balsam's Bailout. This is a bad deal for New Hampshire.   The Balsam's Bailout. "There will have to be public hearings if they submit an application." said James Key-Wallace of the BFA in response to my concerns that this proposed $28 million dollar state guarantee involves too much risk and long-term consequences to the state treasury if it fails.     So where were the public hearings?     It will be interesting if this Balsam's bailout impacts the state owned Cannon mountain along with the rest of the state's ski industry. This will be bad for skiing and bad for New Hampshire.

  New Hampshire casino legislation has once again been filed.   Senate Bill 586 would allow 5,000 slot machines and 240 table games at "siting of the casino locations is done for optimal revenue impact." Wherever this is.     Starting next year two higher end casinos in Boston and Springfield, Massachusetts will open and almost immediately begin scraping $59 million dollars a year right off the New Hampshire economy. This number will only go higher. Senate Bill 586 is so poorly crafted legislation it does nothing consider Massachusetts never mind competing with it. Wynn Boston Harbor Casino Will Scrape Millions Off The New Hampshire Economy.     Senator D'Allesandro the lead sponsor should have done some in-depth market research before filing this bill and it's apparent he didn't. For example the Lakes Region and North Country areas both have strong tourism economies which casino gaming might enhance, possibly exponentially. This bill does not...

Spent part of the day watching horse racing from Presque Isle Downs which is in the western part of New York. The whole scene made me think of Rockingham Park in New Hampshire and how the clock really is ticking down.... The historic Rockingham Park is closing for good at the end of August. And what could have been.... like Presque Isle Downs in New York. Synthetic Track Surface for one. I'm watching it now on simulcast and is the racing ever fast. The horses, at least to me, seem to corner much tighter to the rail but unlike the dirt surface there doesn't seem to be a large margin of 'comeback' on the final stretch. Like the horse in dead last position coming in to win the race. Synthetic tracks= early speed and maintaining the lead. Too bad the politicians in New Hampshire couldn't have done what they did in New York and saved the historic Rockingham Park. It's business as usual in Concord.

It's official the enlarged, deepened Panama Canal is now open for business! Spent some time reading today in the Journal of Commerce about this new means of transportation and commerce. I've said it before I still believe this canal will have a positive effect upon New Hampshire. It won't be immediate but it will change the shape of commerce and markets on the U.S. east coast which by default, has to be good for New Hampshire. Some of the industry watchers and analysts are saying that the "downturn in China" coupled with the Brexnit vote will have negative consequences on global based commerce and this alone will negate the Panama Canal. Time will tell.