Aurelian Resources Was Stolen By Kinross and Management But Will Not Be Forgotten

The company whose shareholders were better than its management

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Message: Ecuador: Mining contracts will be re-negotiated
“By suspending mining operations, the decree allows Correa to postpone conflicts with indigenous and environmental groups and avoid clashes within his own party until after elections.” my comment>>I’ve been trying to understand the rationale for the suspension of activities. This statement seems to me to be offering a reasonable explanation for Correa’s support for the suspension. The benefit to Correa outweighs the potential cost relative to achievement of his objectives. your comment>> "It's a risky gambit. Intelligent people see this as a sell-out, not a compromise. It indicates he is being led by factions within his own party, rather than leading them. Not a good image to present in a country where strong leadership is expected from presidents."

Selling out = "gaining success at the cost of credibility" or "compromising of one's integrity, morality and principles in exchange for money, 'success' or other personal gain". I think the first definition applies … his actions contradicted his stated position and consequently affected his credibility. With the regard to the second definition ... ? Is Correa in this for personal gain or does he have a vision for the betterment of his country and the people of Ecuador that he is attempting to achieve. Both are most likely true with a bias towards the latter being preferable obviously. Has he sold out on his vision or has he miscalculated as per your comments …

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There was a political cartoon in El Comercio a few days ago (can't find it now) that showed a beaming Correa with his hands behind his back wearing the presidential sash inscribed with the words "My power is in the constitution" (refers to his power of decree in the 1998 document) To his side is a studious looking Acosta with a tailors scissors and thread widening the sash far enough that two people can fit in it, and the word constitution has been sewn over and reads constituyente (which Acosta heads). The meaning is very clear.

As for personal gain, I doubt it. Clearly there are advantages to being in office, but I don't think that's his, or Acosta's objective. Both are "socialist visionaries" it's just that their "vision" differs slightly. Myopia would be my diagnosis for Acosta. Correa has the opposite affliction. He can't see what's right in front of his face. Fortunately for him, many of his supporters can't either, but they are slowly catching on.

ebear



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