JUNE 23, 2016

ECONOMIC DEVELOPMENT

Save Tacoma Water initiative qualifies for ballot

Kenny Ocker, June 23, 2016, The News Tribune

Save Tacoma Water’s measure to require voter approval for new large water uses is headed to the November ballot, at least for now.

Pierce County elections officials confirmed Wednesday that they had verified Initiative 6 has more than the 3,160 signatures needed to get on the ballot.

The Port of Tacoma and two business groups are suing in the hopes of preventing the initiative from reaching the ballot, claiming that it is unconstitutional and would hurt economic development at the port. A hearing in that case is set for July 1.

Read more here: http://www.thenewstribune.com/news/politics-government/article85192552.html#storylink=cpy

 

TRADE

The New Panama Canal: A Risky Bet

Walt Bogdanich, Jacqueline Williams, and Ana Graciela Mendez, June 22, 2016, New York Times

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.

Seven years later, and nearly two years late, the locks have finally been declared ready to accept the new generation of giant ships that carry much of the world’s cargo but cannot fit in the original canal.

Read more here: http://www.nytimes.com/interactive/2016/06/22/world/americas/panama-canal.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=photo-spot-region&region=top-news&WT.nav=top-news&_r=0

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