Home » business

Category: business

The Risky Bet That is the Panama Canal

Interesting article in the New York Times about the mess that the new Panama Canal project has turned out to be.

After an intense two-year competition, a consortium led by a Spanish company in severe financial distress learned that its rock-bottom bid of $3.1 billion had won the worldwide competition to build a new set of locks for the historic Panama Canal.

The unlikely victors toasted their win at La Vitrola, a sleek restaurant in an upscale neighborhood east of downtown Panama City. Within days, executives of the four-nation consortium, Grupo Unidos por el Canal, flew to Europe to begin planning the project.

This time, there would be no champagne. Disputes quickly erupted over how to divide responsibilities. Some executives appeared not to fully grasp how little money they had to complete a complex project with a tight deadline and a multicultural team whose members did not always see things the same way.

Internal arguments soon gave way to bigger problems. There would be work stoppages, porous concrete, a risk of earthquakes and at least $3.4 billion in disputed costs: more than the budget for the entire project.

Not really related is the top video.  It shows a massive container ship crashing into a train as it is being pulled through the Panama Canal.

Timex Expedition Atlantis Watch

Timex® Expedition® Atlantis Men's Digital Watch

Well I finally have my first full paycheck from working at Safeway.  Some idiot stole my backpack a couple of weeks ago so I had to replace that with my first partial paycheck.  With my full check, I had to use most of it to pay Dad back for my Windows 10 cell phone.  He suggested I keep back some of it and get myself something.  I had been looking at smart watches but what do I need a Pebble or a Apple Watch for?  I don’t.  I just want a nice watch that I can wear every day.

Dad has Timex Expedition Atlantis watch in silver and black and I have always liked it.  I saw one in black and realized it was the one I wanted so I bought this for myself with my own money.  It feels pretty good.  It looks good too.