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There Comes the Canal Expansion Spin!
By The Boss on Mar 19, 2008 | In Politics, Business | 1 feedback »
Indeed. Bye.
We TOLD YOU SO and you heard it here first: The Canal Expansion project is in trouble. Proof: El Panama America starts the spin that will gradually familiarize us with higher costs, stupid financing - in short everything the opponents of the plan predicted. They have set aside funds for inflation, calculated at 2% per year. In reality it's FOUR TIMES as high: 8% per year. We already told you about machinery that doesn't work. Read our lips: The Canal Expansion is in deep shit.
UPDATE: More preparation-for-the-worst spin in La Prensa.
La Ampliación in Trouble?
By The Boss on Mar 17, 2008 | In Politics, Business | Send feedback »
Dark tales reach us from within the Panama Canal Authority. First, there is this backlog in getting ships through, about a 100 ships are waiting. The pilots can't be transported fast enough, there are not enough lanchas, the road to Colon is a mess and so on.
But that's not all. We also hear that the works on the expansion of the Canal are going slower than planned. A whole bunch of heavy machinery that was brought in with a lot of fanfare is standing idle because they're broken. Financing problems, high inflation. And an economic down is looming. There's even rumor of the ACP having to postpone the whole project. Or, as the opponents of the bizarre plan would say: "We told you so!"
