it one of the highest residential buildings in the entire world. Ice Towers was to come complete with shops, hotel, casino, amenities etc. It is now been announced that the project will not go ahead and be built to completion according to La Prensa Newspaper today. This is the second major project that has officially announced failure to complete, the first being Placio de la Bahia which was another icon projected to be 97 floors also on Avenida Balboa. We hold the opinion that these are not the only projects to fail. They were some of the biggest and grandest with a lot of publicity. It is possible that other projects have failed already and it is impossible to know that. A significant amount of these projects are nothing more than a piece of land with a fence and a billboard portraying the project in all of its projected glory. These projects stay in pre-sell mode and the developers keep hoping to sell enough to move ahead. Only time will tell if they ever complete. The official loss of Palacio de Bahia and now Ice Towers is certain to cool down what was a sizzling real estate market. The modification recently in the Panama Tourist Visa Laws reducing tourist visa to 30 days down from 90 days, will certainly only serve to cool things down further since a lot of people simply wish to come to Panama a few months a year as tourists and reside in the home in Panama. Now they are forced to pursue a residency program they did not foresee pursuing when they bought their home. For many months we kept driving by the site of Ice Tower and were wondering why we just saw a big hole in the ground with some lights and a few guys working. This was not consistent with a world-class project that should have been built out much sooner. Now we know why. Our contacts in the building industry inform us that once you get up over about forty floors the construction costs soar to about triple what the lower floors cost. Think about hauling up all those construction materials with super cranes for starters without even getting into foundations, wind shear, internal integrity, plumbing, phones, electrical, etc. Many of the speculator owners of Ice Tower units paid $1000.00 a sq. meter and now rates for icon projects have soared to $2000 all the way up to $3500 a sq meter. It was announced that the owners would be receiving refunds. No dates for the refunds were announced in the newspaper. The newspaper did not say whether or not any interest would be paid on the money put down or if
piece
is
an
abstract
triptych
that
I
found
while
I
was
in
Atlanta
buying
religious
paintings
The
piece
was
called
Guardian
Angel
and
I
love
it
My
patrons
fell
in
love
with
it
as
well
They
have
asked
me
to
track
down
the
artist
and
see
if
he
has
anymore
religious
paintings
available
The
only
religious
paintings
that
I
actually
do
not
buy
are
ones
that
reflect
the
image
of
Jesus
on
the
cross
I
don’t
have
a
problem
with
them
some
of
them
are
extremely
well
done
and
would
more
than
likely
sell
well
but
my
investors
made
it
very
clear
when
they
financed
the
gallery
that
I
would
not
put
that
image
into
it
PPPPP
683
Ajello
Candles
The
motto
of
the
Ajello
Candle
Company
is
“It’s
better
to
light
a
candle
than
to
curse
the
darkness”
This
candle
making
company
has
been
in
business
since
1775
The
business
has
been
family
owned
for
seven
generations
The
candles
from
Ajello’s
are
well
known
for
their
beauty
and
quality
While
they
make
more
candles
now
than
in
1775
their
dedication
to
quality
and
to
customers
has
never
changed
The
Ajello
Candle
Company
was
founded
by
Rafael
Ajello
an
Italian
painter
He
was
also
a
beekeeper
so
he
tried
his
hand
at
using
bees
wax
to
create
candles
He
worked
hard
to
create
a
formula
that
worked
well
The
formula
combined
with
his
outstanding
artistic
ability
lead
to
the
birth
of
the
Ajello
Candle
Company
In
1785
the
company
earned
the
honor
of
creating
all
the
candles
for
the
Vatican
He
and
his
wife
ran
the
business
keeping
their
children
involved
in
the
processes
from
an
early
age
As
time
went
on
their
children
and
grandchildren
kept
the
business
running
as
well
as
passed
the
family
business
on
to
their
children
By
1862
the
company
had
established
itself
as
a
leader
among
the
candle
making
industry
They
had
also
added
perfumes
and
many
.
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