NYT Article on the New Panama Canal - Disappointing
https://www.nytimes.com/interactive/2016/06/22/world/americas/panama-canal.html
This is disappointing to read. A dozen years ago, I was part of a team that analyzed every aspect off a prospective canal expansion to help the people of Panama reach a "bet the country" decision about their future. The team included Panamanians, Americans and people from all over the world; all were smart, professional, dedicated and committed to a decision and a project that would be good for Panama and the world. The Panamanians in particular approached their work with a sense of patriotic responsibility. The analyses were comprehensive - financial models, market models, engineering models, water models, logistics models, etc. - performed by some of the best professionals in each field, and checked and rechecked by other professionals. I recently looked back at our market forecasts and found that they were remarkably accurate, even with the Great Recession in the intervening years, and I am confident that the other models and forecasts were on target as well. Unfortunately, a lot of good and careful work, presented to and approved by the people of Panama, was scuttled by greed and corruption. I hope that the same spirit of ingenuity and professionalism that have characterized the Canal over the years will be revived to solve these formidable challenges.
Dedicated Environmental Markets Professional
8 年Thanks for sharing your insights, David. Did you find the characterization of the "short-cuts" and other allegations in the article to be unfair?