i will repeat this again and again until you notice maine ad nauseum. this is going to be a great event. it is one that i personally am entrusted with. i will do everything i can to bring this to the world class status that it deserves and has, and the promise that people like larry ellis and all the other private investors could be very proud, along with the authority. thank you very much. [applause] >> if i get -- if i did not say that earlier, announcing this, i have issued and will issue my first executive director forming the steering committee, and copies of that will be available after this speech. >> i want to briefly thank mayor lee for the opportunity to direct the implementation of america's cup. it is something that we are ready, willing, and able to do, having shepherded massive retirements were projects such as the shipyard and currently treasure island. this is a wonderful opportunity and irresponsible -- responsibility we take very seriously. with that, i would like to invite board president david chiu to say a few words. [applause] supe

reports of oil terminal towns being captured, lost, recaptured, seem to continue ad nauseum. nato on board and across the mediterranean coast may have indeed averted -- nato on board meant -- bombardment along the mediterranean coast may have indeed averted civilian deaths. their limited air and sea engagement will unlikely topple the gaddafi family in the immediate or near term. in my view, from the hundreds of people i spoke to over several weeks, something has to give to alter the current course of the conflict as the status quo is unsustainable. the rebels must be better trained and equipped and willing to sustain mass casualties if there to try to take misrata entirely in rebel hands, and eventually mount a very difficult assault in tripoli which would be immensely violent and lead to many debts. nato and the united states may have to ultimately be willing to decapitate the regime, depending on how much the western public is willing to take in the political will of the united states and the european union and its counsel partners in the conflict. ultimately, the somewhat

reports of oil terminal towns being captured, lost, recaptured, seem to continue ad nauseum. nato on board and across the mediterranean coast may have indeed averted -- nato on board meant -- bombardment along the mediterranean coast may have indeed averted civilian deaths. their limited air and sea engagement will unlikely topple the gaddafi family in the immediate or near term. in my view, from the hundreds of people i spoke to over several weeks, something has to give to alter the current course of the conflict as the status quo is unsustainable. the rebels must be better trained and equipped and willing to sustain mass casualties if there to try to take misrata entirely in rebel hands, and eventually mount a very difficult assault in tripoli which would be immensely violent and lead to many debts. nato and the united states may have to ultimately be willing to decapitate the regime, depending on how much the western public is willing to take in the political will of the united states and the european union and its counsel partners in the conflict. ultimately, the somewhat

reports of oil terminal towns being captured, lost, recaptured, seem to continue ad nauseum. nato on board and across the mediterranean coast may he indeed averted -- nato on board meant -- bombardment along t mediterranean coast may have indeed averted civilian deaths. their limited air and sea engagement will unlikely topple the gaddafi family in the immediate or near term. in my view, from the hundreds of people i spoke to over several weeks, something has to give to alter the current course of the conflict as the status quo is unsustainable. the rebels must be better trained and equipped and willing to sustain mass casualties if there to try to take misrata entirely in rebel hands, and eventually mount a very difficult assault in tripoli which would be immensely violent and le to many debts. nato and the united states may have to ultimately be willing to decapitate the regime, depending on how much the western public is willing to take in the political will of the united states and the european union and its counsel partners in the conflict. ultimately, the somewhat xenop