Hutchison falls with Global Crossing deal on rocks

CBS MarketWatch.com ^ | 4/29/2003 | Allen Wan

[SierraWasp]

My goodness... Have you gone mute?

[Cold Heat]

Not very talkative today.

Got one of those letters from the IRS.

...........................................................................................:-(

[edwin hubble]

"Good. Whatever the economic consequences, it strikes me as foolish to give the Chinese this kind of access and control over satellite communications. "

When I think of our massive budgets for CIA, NSA, DIA, FBI, etc.
and then to allow a 'global' transfer of technology and power to China with Global Crossing...its just mindless.

The Spratleys,
The P3 Orion in 2001,
The internet attacks launched from China.
Operating at both ends of the Panama Canal (remember that?)
And now Global Crossing???

We deserve what we get if we let this go through.

[Bonaparte]

"...but why would we want to keep it?"

All our east coast/Gulf shipping to/from the Pacific and Asia goes through there. It's a potential choke point for some serious US commerce. Some of us are more than a little nervous that the ChiComs now have the lease on it. Also, it gives the ChiComs a base of operations right in our own hemisphere perfectly positioned right by Cuba, Venezuela, Brazil, Peru, etc. They can and probably will cause a lot of mischief in the coming years. It was a very sad day when Carter put the canal up for grabs. But then almost every day of Carter's administration was sad, the exception being the day he lost to the Gipper and the day he left office as a failed, one-term president.

[zechariah]

All our east coast/Gulf shipping to/from the Pacific and Asia goes through there.

Some do, but not all. For larger, faster, more modern ships going around Cape Horn can be more economical.

Some of us are more than a little nervous that the ChiComs now have the lease on it.

Good for them. Let them pour money into that old, out-of-date sinkhole. Seriously, we should build a new one in Nicaragua.

[z]

[zechariah]

Yep! Yew gits the booby prize!!!

Aww...now don't be sore. I was just playin' witcha.

[z]

[Bonaparte]

"Our ships won't even fit through the canal anymore."

Huh? Major locks widening projects are already underway. But even before they're complete, huge commercial traffic goes through that canal, a third of it panamax. From Central America Weekly just 2 years ago --

Because 10 percent of the world's ships are unable to pass through the narrow waterway, the canal, hoping to remain one of the fastest and easiest shipping routes between the Pacific and Atlantic oceans, is undergoing its biggest expansion since workers carved the 50 mile watery path through Panama's mountains. The project, which includes plans for the world's biggest lock, will drastically alter the country's landscape, turning jungle communities into lakes and forcing thousands from their homes. "If we want to maintain Panama as a route of preference, we have to look at expanding the canal," Canal Administrator Alberto Aleman Zubieta said. "We have to adjust the canal to the dimensions that the industry has already decided on."

"10% of the world's ships"? I think that means 90% are able to get through even before it's enlarged.

[Bonaparte]

Go here and educate yourself. Cuts are being widened, locks enlarged, channels deepend. The Canal is not the quaint outdated curiosity you've suggested it is. In another 8 years, it will handle most postpanamax container vessels.

[Bonaparte]

You're hopelessly ignorant. Bye.

[_Jim]

over satellite communications

Fiber ('terrestrial, land-based circuits') or satellite communications - which was Global Crossing heavy into?

[Grampa Dave]

I thought their former left hand man in DC, was Klin Toon instead of his evil twin, the Kring Tong!

[dixiechick2000]

This is great news! Thanks, SW!

"4. Because we're the arrogant capitalist pigs of the planet and we should stay that way

5. Because I hope that answer (#4, above) offends the heck out of you for asking such a sucky question!!!"

Awww...does that mean we can't be arrogant capitalist pigs anymore?

Dang. I hate change...

[Grampa Dave]

Better than wreck yo erect tion at your age!

[Grampa Dave]

Go to this FR search on Global Crossing:

http://www.freerepublic.com/focus/f-news/search?SX=3eaf5dcb7fe0a1cf5db8b8fca392a8a461d69858;m=all;o=score;ok=Search;q=deep;s=global%20crossing;t=891991

I think, who you may be looking for is Libloather re a lot of research and articles on Global Crossing.

[dixiechick2000]

Dang, Gramps, I'm shocked!

Well, maybe not...;o)

[Ernest_at_the_Beach]

http://www.freerepublic.com/focus/f-news/search?SX=3eaf5dcb7fe0a1cf5db8b8fca392a8a461d69858;m=all;o=score;ok=Search;q=deep;s=global%20crossing;t=891991

Where did you come up with that search string?

Two other articles posted on this.

U.S. Widens Probe of Hutchison's Global Crossing Bid

Source: Hong Kong investor likely to pull out of Global Crossing deal

[Grampa Dave]

Gramma Dixie Chick, just translate the Mandarin.

On second thought just pretend to be shocked!:)

[dixiechick2000]

"On second thought just pretend to be shocked!:)"

I married a Navy man...

not much shocks me, anymore.;o)

Except, maybe, the French.

[Grampa Dave]

We sailors can be bad at times!:)

[dixiechick2000]

Yep...you're baaaad!