NYT Article on the New Panama Canal - Disappointing
New York Times

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.

Scott Hernandez

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?

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