We're told MARAD had the winning bids of $25 million on each of the 2 Hawaii Superferries over and above what was already owed to MARAD.
Now, what does MARAD do with those 2 vessels?
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See Tim Colton's webstie for more details and a list of possible uses for the ferriesflundep
@leesea, I looked at Tim Colton's recent comments, and they do not add up. Like this nuggett:
Re: "the bid amount must be less than or equal to the balance of the loan in default."
Nobody would be compelled to bid less than or equal to the loan. What he reports uncited as "I am advised..." is speculation and rumor and does not entirely make sense.
Tim ought to get the real story, as he is capable of, before he writes about it.
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