Panama Investor Blog

Samuel Walker Taliaferro VII

 June 10th, 1952 – February 17th, 2011 

 

Sam Taliaferro, devoted father and husband, developer, entrepreneur and cherished friend to hundreds of people around the world, passed away early this morning after a two year battle with cancer.

Words like “pioneer” and “visionary” are used frequently to describe successful people but few truly deserve those titles as much as Sam. 

Sam was a pioneer in the true sense of the word.  He came to Panama with a desire to settle here and make this country a better place to live and there is no doubt that he succeeded.   He loved his adopted country and Boquete so much that he spent much of the past ten years telling the world what a special place Panama is.  His enthusiasm was infectious and hundreds of people from all corners of the world came to Panama and to Boquete to share in his dream.

Sam’s vision has always been clear and unwavering.  He knew Boquete’s true potential and his deepest desire was to enrich the lives of others – both the local people working here and the people from around the world who would call Boquete their home.  For Sam, vision was a real and tangible thing.  He could “see” what he wanted his world to be and used his energy and focus to shape this vision into reality.  His legacy, Valle Escondido, is a testimony to this vision.

They say that the value of a man’s life is not measured by the physical things he possesses but rather by the lives he touches.  By this measure, Sam was truly a rich man.  Over his lifetime, Sam physically and spiritually touched the lives of hundreds of people and touched the lives of thousands more through his blogs and his writings.  Each of these lives is a little better off from their contact with Sam.

Sam’s physical presence is gone and he will be sorely missed by his family and friends.  But, Sam’s spirit is still here and alive in the community he created and the lives he touched.

In this time of sorrow, let’s try not to focus on what is gone but instead look to what has been achieved.  Sam wouldn’t want it any other way.

God bless Sam Taliaferro and God bless and comfort his family during these difficult days.

Sam's ashes will be placed in the chapel at Valle Escondido tomorrow, February 18th at 2:00pm if you wish to stop by and pay your respects.  A memorial service will be held on Saturday, February 19th at 2:00pm at the Catholic church on main street in Boquete.

Paul McBride

 

We Need Your Prayers and Support

To All of Sam’s Readers and Friends,

I met Sam Taliaferro 10 years ago when he was first starting to create the dream that became Valle Escondido.  Over the past six years, Sam has been my colleague, my business partner, my mentor but most importantly my friend.

If you’re reading this blog in Boquete, it’s more than likely that you’re here because of what Sam created.  Sam is almost singularly responsible for turning this small, mountain community into the place that so many people call home.  If you’re reading this blog somewhere else, it’s probably because you’ve come to know Sam as a source of unbiased news and intelligent, no-holds-barred commentary.  As long as I’ve known Sam, he has never been afraid to give me the straight, unvarnished truth – as painful or as joyful as that truth may be.

With that in mind, I’m 100% sure that Sam would want his friends and readers to know the truth about his health.  He has never been shy to tell people about his battle with cancer and the steps he was taking to win that battle.  Sam is the most focused and clear minded person I have ever met and he approached his illness with as much intensity and thought as he approached everything in life. 

On Sunday, February 6^th, Sam was experiencing some difficulties with his health and he visited his doctor on Monday.  He returned home convinced that he could overcome this latest set back as he had other incidents in the past.  Unfortunately, his condition worsened and late Monday night he was rushed to Hospital Chiriqui in David and was admitted into the intensive care ward.  He is still in intensive care and is fighting a series of infections throughout his body.

Make no mistake; Sam’s condition is extremely grave.  I can say that he is receiving the best care possible, that he is not in pain and that he is fighting this battle as best he can.  At this point, the best thing Sam’s friends and readers can do is to pray for him, keep him in your thoughts and send as many positive thoughts and feelings his way as possible.

Sam’s circle of friends, business associates and readers is in the many thousands and covers a wide area.  At the instructions of his family, I will update his blog with any news concerning his condition.

Please keep Sam and his family in your prayers.

Warm regards,

Paul McBride

Something very positive may come from my battle with cancer

Writing a blog takes a great deal of time, but I love doing it because it serves a number of purposes. It gives me an opportunity to share my views and because so many of you read it, it also gives me an opportunity to make an impact on my adopted country of Panama.I have made so many Friends both here and abroad just by being consistent in sharing the good, bad and ugly of Panama.

It also gives me a much needed release as I love to read and learn about things I consider important and share them with others. I have been writing this blog now for almost 7 years and I hope to continue to do so for years to come.

As some of you know, I have battled with throat cancer for the last two years. I was not a smoker or heavy drinker. I was infected with a virus! It has been a major struggle and the battle is not yet won. I have my good and bad days as I fight to destroy the cancer before it destroys me. This has been an epic journey for me as I have spent a great deal of time traveling and researching the latest and greatest cancer treatments around the world.

As I have been financially blessed to not only be able to do my own research, but collaborate with  a number of partners and we have found a great deal of incredible new technologies and treatments that are either available now or soon will be for a variety of degenerative diseases. One of the most promising technologies is stem cell therapy. I have gotten a great education by visiting treatment centers, conferences and research facilities over the last year or so. I believe that this new cell technology is the key to life extension and the eradication of most diseases afflicting human kind.

With all of this education I have embarked on a new endeavor. To try and bring Panama to be the top in treatments of degenerative disease and regenerative medicine. With that aim I am diligently working with the government of Panama to put together laws and regulations governing these new technologies so that Panama can reach this goal. Thus far I have had tremendous success in recruiting help with this project and have had dozens of top doctors and researches from around the world visit Panama. Panama authorities are very interested in how this can significanlty improve the health of their citizens as well as open up the country for medical tourism. In the coming months many more doctors and researchers will be visiting Panama to see how they can participate to bring Panama to an exceptional level of technologically based treatments.

As I research as much about these subjects as I do about investing in Panama, I am considering sharing regular news on these new technologies and where Panama stands on our goals in another blog. If we are successful Panama could become the place the world looks to for a gentler and more effective form of treatments that will be many years before being accepted by big pharma, the FDA and their equivalents in many "first world" countries.

It takes a lot of effort to post regularly with commentary, but if enough of my readers are interested in this subject I will take it on. Even though I am battling this dreaded disease I am blessed to be able to bring about something positive and you can help me just by reading and spreading the news. I would like as many people to know about what Panama is doing as possible.

Let me know by voting on it here.

A personal note from Sam

My dear readers;

I want to thank you all for continuing to read my take on things here in Panama. I have lived in this small country now for over 13 years and have been sharing the good, bad and ugly with you now for more than 5 of them. Although it takes a great deal of time I have always enjoyed it because it gives me a soap box in which to share my views on Panama and the world regarding politics and the economy  from a conservative point of view. I am sure there will be many changes in Panama and the world in 2011 and I pray that all of you will be safe and  prosper no matter how good, bad or ugly things may get.

Happy New Year from my family to yours

Sam

 

Panama Entrepreneurs go to Washington in search of investors

Each year Panama businessmen host a Panama week in major cities in the U.S.in an attempt to get new investment into the country. I know some of the folks involved and they have had great success in the past in accomplishing their goals. This article from La Estralla tells about this years effort and the success they have had in the past.

Machine Translated from La Estralla

JULIO ALFARO
jalfaro@laestrella.com.pa jalfaro@laestrella.com.pa

PANAMÁ. PANAMA. Los empresarios panameños confían en que su misión de esta semana a Estados Unidos sea fructífera. Panamanian entrepreneurs rely on their mission to the United States this week will be fruitful.

Unos 60 representantes de empresas locales viajan mañana a Washington, a presentarle a inversionistas estadounidenses las diferentes oportunidades que ofrece Panamá para hacer buenos negocios. About 60 local business representatives traveling to Washington tomorrow to present to American investors the many opportunities that Panama offers to do business.

Se trata de la décimo cuarta versión de Panama Week, evento que busca estimular a la inversión estadounidense en nuestro país. This is the fourteenth release of Panama Week, an event that seeks to encourage U.S. investment in our country.

Roberto Alfaro, presidente del Consejo Empresarial Estados Unidos-Panama (USPA) señaló que lo más importante de este evento radica en la promoción que se le da al país ante gente que tiene poder de decisión en empresas con el potencial para venir a Panamá e invertir. Roberto Alfaro, president of the United States-Panama Business (USPA) noted that the most important of this event lies in the promotion that gives the country to people who has decision-making in companies with the potential to come to Panama and investing .

'Serán unos 60 empresarios panameños que harán sus presentaciones ante un número similar de inversionistas estadounidenses. 'Will be about 60 Panamanian businessmen to make their presentations to a similar number of U.S. investors. Creemos que en esta oportunidad, tenemos una serie de ofrecimientos que despertarán un gran interés en ellos', apuntó Alfaro. We believe that this time, we have a series of offers that will arouse a great interest in them, "said Alfaro.

LOS PUNTOS FUERTES HIGHLIGHTS

Panamá lleva cartas fuertes para la décimo cuarta versión de Panama Week. Panama has strong cards for the fourteenth version of Panama Week.

Los empresarios panameños llevan promociones para inversiones en sectores de turismo, puertos, comunicaciones, generación eléctrica, bienes raíces, banca, áreas revertidas, logística, aeropuertos y negocios en general. The promotions are Panamanian businessmen for investments in tourism, ports, communications, power generation, real estate, banking, reverted areas, logistics, airports and businesses in general.

En los años que se ha celebrado Panama Week, varias empresas estadounidenses de reconocido prestigio, que participaron del evento, posteriormente decidieron instalarse en Panamá. In the years that Panama Week was held several prestigious U.S. companies that attended the event, later decided to settle in Panama.

Algunas de estas empresas son, por ejemplo, Dell Computers, empresa de alto perfil tecnológico; Caterpillar, considerado el fabricante más grande del mundo de maquinarias de construcción, equipos de minería, motores industriales y otros; además de la instalación de Georgia Tech en la Ciudad del Saber, como un centro de innovación e investigación logística. Some of these companies are, for example, Dell Computers, high-tech company, Caterpillar, considered the world's largest manufacturer of construction machinery, mining equipment, industrial engines and others, plus the installation of Georgia Tech in City of Knowledge, as a center of innovation and research logistics.

Además de los empresarios panameños, también serán partícipes de la delegación el ministro de Comercio, Roberto Henríquez, y representantes de la Asociación de Usuarios de la Zona Libre de Colón, la Asociación Bancaria, la Cámara Marítima de Panamá y corredores de bienes raíces. In addition to the Panamanian businessmen, will also be participants of the delegation's trade minister, Roberto Henriquez, and representatives of the Association of Users of the Colon Free Zone, the Banking Association, the Maritime Chamber of Panama and realtors.

Here's who to call if you get screwed by a developer!

My post last week regarding being screwed by a developer last week recevied a lot of comments and garneshed a few  imformative emails from avid readers. Gail Geerling  has worked on a commitee with the American Chamber of Commerce here in Panama to educate buyers on the pitfalls  and help them navigate through them. Here commenst are below. I also recieved an email from Mitch Creekmore of Multinational title insurance. Here are his comments.

"If I have a title policy issued and I go to sell and find out someone has committed fraud against my land title, my recourse is to the title company who issued the policy via a claim and the coverage’s, conditions, stipulations and exceptions under the policy.  Without it, an owner’s recourse is to no one, not even the notario.  Or you can sue the original seller.  In the case of Costa Rica, we created the endorsement so each year we can renew it at the owner’s discretion with payment and check the public registry.  It’ a minimal cost for the peace of mind it gives.  But naturally, the Panamanian agents and attorneys pooh pooh the notion of title insurance and say it’s not needed…., until there’s a problem Sam

Here is Gails suggestions:

It seems as though all is not lost when it comes to getting screwed by a developer here in Panama.  So what do you do when it all goes wrong?

 According to Gail Geerling, whose company helps foreign investors learn how to navigate the system in Panama, “No longer do buyers- foreign or local- have to accept shoddy, sub-standard construction, outrageous clauses in their contracts, or developers who dance rather than deliver.  There is another option.”

 Panamanians love acronyms, so of course we expect they’d use one of the longest to refer to Panama’s consumer protection agency, ACODECO.  Autoridad de Proteccion al Consumidor y Defensa de la Competencia is a public autonomous entity, which means that it actually has some power to carry out its purpose and follow through—unusual in Panama.  It was created in its original form in 1969, and has morphed quite a bit over the years- including at least two name changes and several refinements to the law pertaining to its rights and abilities.  Though the changes have all been positive they are somewhat confusing, so perhaps that’s why few consumers are aware of what ACODECO can do for them.

 Does ACODECO’s claims system work perfectly? 

 “Absolutely not”, says Geerling.  “It is the usual Panamanian process- sometimes full of bureaucracy and frustration.  But after all, we chose to live and invest here, so why not brave the bureaucracy and take advantage of one of the best tools Panama gives its buyers? 

 It’s not for the fainthearted.  There are limitations in the process, and of course most foreigners (especially non-Spanish speakers) will probably want advice and assistance throughout the process.  Yet, many of my colleagues and I have taken clients successfully through the process- resulting in repairs or money from the developer.  By and large- and to no one’s greater surprise than my own- the process actually works!”

ACODECO’s mandate is to Protect and Preserve the Rights of the Consumer, a fairly broad scope of work covering anything from cases of price fraud to false advertising, to honoring product guarantees. 

However, in a speech given by ACODECO’s representative recently at the AmCham Real Estate Forum in Panama City, it was mentioned that nearly 70% of the cases ACODECO are currently handling pertain to the real estate industry. 

“It’s not a great commendation for developers in Panama,” says Geerling,  “but what we find interesting is that these cases are increasing.  People are sick and tired of being taken advantage of, and they’re making a statement: We’re not going to take it any more.”

Restrictions within the process include financial claim limits, and time limitations for making a claim- but options do exist even after those limits have been exceeded.

For more information, email: Gail.Geerling@SuccessInca.com or check out ACODECO’s website at www.acodeco.gob.pa

 

Forum on the good, bad & ugly of Panama real estate

The first Annual American Chamber of Commerce Real Estate Forum will be held on the 14th October at the Miramar Hotel. This forum is not to 'hard sell' real estate to the public, but rather, to acknowledge the elephant in the room.  The Committee realizes that there are a lot of problems and issues in the Panamanian real estate industry, and professionalism is rare here.  We intend to draw attention to these issues, and give attendees ideas for navigating the system ahead of time-- as well as some solutions for solving problems they might face if they've already purchased property here.

Conversely, we will offer some suggestions for Panamanian real estate professionals and developers who need to learn how to work with North American buyers.  The program will touch on what North Americans expect when they do business, and how Panamanian brokers, developers and support professionals can deliver it to them. Click here for more details.

Great images from Panama's past

Here is a great slide show of Panama's past that I found most interesting sent in by one of my readers. These are fantastic images and presented in a very professional manner. Be sure to check it out.

#178 for tourists in Panama needing help

Thanks to Marion for sending me this announcement; ATP has allocated the phone #178 for tourists in Panama needing help.  I have called it numerous times and it was answered by a very helpful man, Diego, who speaks English and Spanish.  The purpose of this # is to provide immediate response to tourists in trouble – be it an accident, robbery, violence, etc.  They tell me that someone, who speaks English, will come and help the tourist navigate the difficulty.  When some people we knew were robbed and minus their passports staff from the # went to meet them to help them get emergency travel docs etc.

New government agency plans to streamline foreign investment

This certainly comes as welcome news if it is done properly. They have what is called a Ventana Unica or one window at the Panama Pacifico project that has been very efficient according to my contacts at that project. Now the government is planning to make it easier for all foreign investment eliminating much of the bureaucracy when dealing with many different agencies. Lets hope they get this right!

Machine translated from Panama America

Direct foreign investment increased by 56% or the equivalent of $ 219 million during the first trimester of the year, compared with equal period of 2009 according to figures from the Comptroller General of the Republic of Panama.

These results have been recorded, despite the familiar stumbling block: the bureaucracy that exists to deal with for a new company on Panamanian soil.   Henry Kardonski, general manager of Panama Pacifico, attested to that deficiency.

  However, this problem from now on will no longer be the same.  Now investors will have the opportunity to find all the information they need to know if they want to settle in the country, through the Agency for Investment Promotion and Export (PROINVEX).

  That means that businesses associated with agricultural exports, tourism, logistics, among others, will only have access to this single window, where you can view stats and everything about the business climate in Panama.

  Even know which areas are covered by the laws of incentives such as the Free Zone of Colon, Panama Pacific and processing zones, said in a tone pleased Roberto Henriquez, Minister of Trade and Industry.

  Henceforth, Henriquez Proinvex expects, as a business tool-doubling foreign direct investment.  Or at least those are the long-term projections. For their part, Kardonski, acknowledged that after having finalized this initiative, the time to set up a company would be reduced by only a matter of weeks.