Otto at Inca Kola News has some good analysis on the work stoppage at La Oroya today.
From Reuters:
“Doe Run Peru has halted work at its sprawling La Oroya smelter after banks cut credit lines for the company.”
Also read my previous post about money and La Oroya. It remains to be seen if Alan Garcia’s pro-mining government will step in. Personally, I’m with Otto on this: Ira Rennert took the money and ran.
A friend of mine sent me this. Crude, but funny. Also sad actually, because it’s becoming increasingly obvious these bailouts are set up to protect greedy incompetent executives who caused the mess in the first place. If anyone knows of the correct origin, please let us know in the comments.
I took a walk through Calle Procuradores on the way home last night. Procuradores is a narrow street on the NW side of the Plaza de Armas in Cusco. There are a lot of small bars and restaurants on Procuradores, but to locals it’s known as the bad part of the Plaza de Armas because it’s the main hangout for the small-time drug dealers who peddle “weed” and cocaine (“Charley”) to the tourists.
Calle Procuradores seen from the Plaza de Armas, Cusco
Calle Procuradores, Cusco
Calle Procuradores looking towards the Plaza de Armas
Unfortunately local authorities don’t do anything to clean up Procuradores. I imagine plenty of kickbacks keep the status quo in place. It’s sad really, that people who come to a beautiful place like Cusco, with all of its attractions, entertainment and nightlife, still feel the need to fry their brains with cocaine to have a good time.
Life in Peru 