Tuesday, October 14, 2008

Red Frog Strike Resolved!

We are very pleased to report that we have finally come to a complete agreement with the Labor Union and the labor strike was officially settled today!!!

Now that we have been able to make this huge step forward, please understand that there are several processes that we need to work through before we can actually get back to work. These processes will take some time as we continue to work with the Labor Ministry and all past Pillar Construction employees. During that process, we will also start to slowly mobilize our operations team as well as work to complete the conversion process for those few remaining clients.

Again, we wish to express our great appreciation to you all once again for your tremendous patience! We will be able to provide more details on our next Conference Call on Tuesday October 28 at 3:00 pm CST. We will be sure to send another reminder for that call the week before with all of the call in numbers. So thanks again and we look forward to getting back to work and making this beautiful project a long term success!

Note: This was hinted at in the September conference call since it would have to be settled before new money would come into the project. This is a great step forward, and good news for Red Frog investors!


Anonymous said...

Your Red Frog forum for lot owners can not be accessed because there is a warning that it contains malware and may harm computers. What is up????

SFResidence.com said...

There are no problems that I know of on the RedFrogBach.com site. Please check with sharris@redfrogbeach.com. We do not manage their site.

LI Rants Here said...

I am making a trip to Bocas Del Toro shortly and was interested in looking at properties at red frog. Your tale of woe is so long i lost track of whats going on. Can a regular participant please summarize whats been going on there? As someone simply looking for her own slice of paradise like the rest of you, id like to have a better feel for the risks of purchasing here before signing on the dotted line. Im not confident the "sales" people will be quite as forthcoming as all of you.

SFResidence.com said...


The strike has been resolved and, with private money from owners, the project is back in the black. There are a few lots and homes for sale at discount prices. The project is now moving forward, though not with a big sales push until the economy starts coming back.

Mick @ Lot 83