To: Dayuhan who wrote (2743 ) 3/17/1999 1:09:00 PM From: Tom Read Replies (1) | Respond to of 2951
Re: ON Topic! I was curious enough to search out Moorer's remarks on Panama. Oddly, the company involved is Hutchison-Whampoa, a subsidiary of which is under contract to operate portions of the canal. More specifically, the portions are at the approach ends.Moorer seems to have quite an obsession with HWI, and refers to the company as if it were practically a wholly-owned subsidiary of the mainland military. Those weren't his words, Steve.The only justification he cites is alleged and unspecified "close ties" between the HWI CEO and mainland political and military figures. The same, of course, could be said of practically major HK firm. The relationship is a bit beyond alleguer. Other than the Chief Executive, and maybe the Fung's, you'd be hard-pressed to find someone w/ a closer working-relationship w/ Beijing than Mr. Li.It seems that Moorer is suggesting that any participation by HWI in any strategic area is a security threat to the US. Given HWI's business, that has obvious ramifications: are we supposed to prevent them from doing business anywhere outside HK? Steve, you're beginning to rant. "...seems that...suggesting....anywhere"Given HWI's reputation (already mentioned by a previous poster), I find the whole thing a bit difficult to swallow. My original posting was intended to alert investor-participants, and other visitors to this topic, of existing and developing circumstances which may affect the economics of the region. My final information is dependable. You can see some of it reiterated, in some of the same words, as delivered by France Presse and the Shanghai Express on the news-side of yesterday's Inside China Today . ...was it legislative or executive action that canceled the deal? My memory of it is executive action under strong legislative pressure, though I would have to check the archives to be sure of that. Okay.My memory of the circumstances, which so agitated those who opposed our leaving, includes only legitimate alternatives which were not pursued. It was for lack of even an attempt at certain options that infuriated them. Specifics? I know that the possibility of a vastly increased compensation package was floated, but I'm not sure it was ever meant to be taken seriously. If a Filipino asks an outrageous price for something, chances are he doesn't want to sell it. I recall that now, Steve. A compensation pkg. that was deemed outrageous. They should have worked more and relaxed the arrogant posturing.The concern would arise from being guested by Subic, as opposed to being supported by a U.S. depot of some permanence. If being a guest in Subic was judged a security hazard, they could simply guest in Manila, or elsewhere. There are many tactical reasons for choosing Subic over Cavete Harbor. Myself, I favor other locations for certain evolutions.With the Navy facilities removed, the only reason to come in here would be nostalgia for the bar scene, which no longer exists in any event. Others in the Philippines see occasion for U.S. military visits beyond the bar scene. Cubi is always an attractive feature. Swing some arcs from Cubi and consider operating ranges.Even without HWI, no Navy ship has called here in years. That has no bearing on the matter but to extend all you have assumed, Steve.It should be noted that HWI was only bidding to operate the container terminal, not the entire port. And the notion that having HWI present in any port where US warships call constitutes a security risk is a bit much. Agents of the port authority are not the sole participants in routine daily harbor activities. ----- I've only read one of the posts directed my way, Steve. And in the correct order, I hope. Gotta' get some work done. Will return later this evening to answer the other. And thanks for responding. I appreciate your information and perspective.