Sunday, June 13, 2021

Mexico: More trouble in the Failed State

       The name Carlos Slim is well recognized not just in Mexico, but in the U.S. and the rest of Latin America.  Mr. Slim is one of the world's richest men, ranking up their with Jeff Bezos, Elon Musk, Bill Gates, and Mark Zuckerberg.   His wealth was earned the old fashioned way:  he consorted with politicians and landed government contracts for public works projects he identified as begging for someone to manage and complete while tapping public funds for payment.  Just a few years ago, in the oughts, Mr. Slim felt it was time to expand his construction business into railroads and transit systems.  Mexico City was on the verge of expanding its subway system with a new line to handle the ever increasing population of workers in the capitol city, the largest city in Latin America.  His company, CARSO Infrastructure and Construction won the contract-its first rail contract.   The company built the section of the rail system that collapsed recently, killing 26 passengers and injuring many more.  The project was beset by problems from day one.

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