replace the current eyesore that rests at the former Bermudiana Hotel site in Hamilton.

An informal survey in Hamilton yesterday revealed that most people would have preferred it if a Bermudian company were able to develop the site.

However international insurance giants ACE and Exel have expressed an interest in the property but the 60/40 rule which requires that 60 percent of a company be Bermudian owned, is a stumbling block to the process.

Parliament is expected to debate the matter this session.

Road Safety Council chairman George Morton said he was a bit sceptical about any attempt to meddle with the 60/40 rule.

"First of all I think it should be in local hands regardless. I feel that if they allow ACE and Exel to take it over and develop the former Bermudiana property there must be certain guidelines and stipulations so that this right or privilege is not abused.'' Vasco da Gama striker Dwight Basden said he supported ACE and Exel's wish to develop the Bermudiana property.

"I think that they should take it over and do something with it. It would create a lot of jobs. There are guys out here who aren't working. Right now it is just sitting up there doing nothing.'' This was a sentiment Carola Ferrell concurred with. She said: "Someone has got to take it over. It's been an eyesore for a long time. If local businesses cannot do it then a foreign company should. There are tourists who pass there all the time. It's not nice for them to see that.'' Stewart Greenslade, a United Bermuda Party candidate who lost to Paula Cox in the Devonshire North by-election last year, said he had mulled the issue over for a long time.

"I have a lot of concerns,'' he said. "It is one of those situations where you need to find out everything before a decision can be made. If we could do it ourselves, then by all means I think we should. If it can't be done then the bottom line is that the Bermudiana site looks like hell.

"That's our waterline. Ships come in there and it is right on the outskirts of Hamilton. It is a site that needs developing.'' Deborah Easton said it was not fair for foreign interests to take over the site.

"I don't think it is fair. But if they do take it over where will all those homeless people who sleep up there go?'' Scott Godet also found difficulties with the issue.

"It's a difficult one. I can see the benefits of employment during the construction and then after the offices are built.

"But I am concerned that this may be a future trend that we need to be aware of.'' Dawn Defilla was succinct in her response: "I will just be happy to see it looking presentable and being put to some kind of use that benefits Bermuda.'' Dwight Basden Dawn DeFilla Deborah Easton Scott Godet Stewart Greenslade George Morton