The Scavengers

All the coverage of recent events in Cuba has not only been political. Money magazine focuses on how to profit from the embargo lifting they see as more likely now, remarking on the recent rise of stocks which may profit from the political nonchange. They discuss the Herzfeld Caribbean Basin Fund (CUBA) which is set to benefit from ancillary businesses if trade commences. Some of the purported beneficiaries of the speculation: possibly Starwood Hotels which is owed about $50.7 million by the Cuban government, the reprehensible Office Max which as Boise Cascade owned the electric company, and Imperial Tobacco which through Altadis controls many of the Cuban cigar brands. Read it here.

11 thoughts on “The Scavengers”

  1. Raulito –
    Recuerdase por favor. La Romania – DIEZ MINUOS DE VIOLENCIA – VENTE ANOS DE PAZ! Qual es la differencia en CUBA? Digame por favor!

  2. I’m confused here. I think you are trying to say that capitalists should not try to exploit the “change” from fido to raul. If that’s it, I’m with you. Its why I’m here.
    But if not, I’m missing something. To illustrate I need to make assupmtions and you know what happens when you assume.
    I assume that American investment in pre-castro Cuba was mostly a good thing, and that expropriation of American assets was a bad thing. Many times on this site and others the expropriation of American assets is considered to be a primary justification for the embargo.
    I would further assume that some kind of American assistance either governmental or from the private sector is a good thing for post-castro Cuba. Bush’s own plan for the post communist Cuba has such aid in mind.
    Are the scavangers you refer to any American business who does business in Cuba either pre or post fidel? If so, I didn’t expect this site to be anti-capitalist.
    From an education standpoint, what exactly did Boise Cascade do while owning the Cuban Electric Company that was “reprehensible”? If they were reprehensible are you saying that castro was right in expropriating Cuban Electric?
    Please forgive me but it sounds like damn the American capitalists when they were in Cuba pre-castro (Boise Cascade)and damn them if they invest in a post castro Cuba (they are scavangers).
    I fully agree that workers in Cuba should not be exploited by communists or capitalists, but unless there is some US investment in Cuba post-castro how do you expect the country to get back on its feet as quickly as it will need to?
    And as a capitalist, that investment takes planning and time.
    Again, if you’re talking about doing business with the current regime, then I’m against it, as I assume (that word again)that most everyone else here is.
    Maybe its just a weekend, its late and I’m getting ready to turn in. I’m just finding the post a little hard to reconcile with the general conservative tone of the site which usually means pro-business.

  3. Jack:
    I cannot answer for rsnlk because I did not write this post. However, my take on this post is based on this line: “the recent rise of stocks which may profit from the political nonchange.” To me that means companies that are hoping to profit from a lifting of the embargo, which many hope this perceived change in Cuban politics may bring about.
    I, personally, am as capitalist as you can get. But any dealings with the current regime in Cuba, regardless of how much money any US company might make, is immoral and wrong. To deal with the despotic Cuban regime is not real capitalism but simply opportunism. Real capitalism is comprised of two parties doing business in which both receive what they deem to be fair compensation for their goods or services. Opportunism, on the other hand, is one party profiting at the expense of another party.
    To put it simply: Buying a flat screen TV at Best Buy is capitalism. Buying a stolen flat screen TV from the back of some guy’s van for a third of the price is opportunism.

  4. “The 2008 U.S. elections could also speed up U.S. efforts to restore trade relations to Cuba, said Van Batenburg, because Cuban-Americans make up an important voting bloc in the state of Florida.”
    Does this shithead think we vote Democrat? That we want the embargo lifted?

  5. Sorry, JackW. In protecting their own interests, they almost blocked the family of one of the four American pilots who died at the Bay of Pigs from collecting a judgement. Also in pursuit of their interests, they went down to Cuba, accompanied by Larry Craig, and made nice-nice with you-know-who, or so it would appear.

  6. By the way, Alberto. You got it exactly right. There’s just something unseemly about the whole thing.

  7. Thanks. I think I get it now. You’re talking about the people who are making “nice-nice” with the bad guys.

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