Walter - October

The Canal Zone is gone, and with it our childhood. However, Panama is still there, and not all the news is bad. I hope to provide information about both sides: the silver linings as well as the clouds. My sources will be friends in Panama with whom I've stayed in touch, Panamanian newspapers of all political points of view, and all else that come to hand.

This is not an editorial or op-ed page. I invite anyone who feels like it to submit current news items to me at DRYJA1@msn.com. I'll try to fit in whatever you send. But again, please try to stick to news. If you think I've published something that's a crock, put your opinion in the Message Section. I read that almost daily, and I will respond there if I think it's necessary. I do not consider myself to be the ultimate authority on anything, especially Panama.

Did you know that the name "Tocumen" is the name of an Panamanian Indian chief?

I note that the video of the movie Tailor of Panama is out. Having seen it in a theater earlier this year my comment is that it wont win any Academy Awards. However, it was shot entirely on location Panama. So half the fun of watching it if you are a CZ Brat is seeing places you know in the background. Be aware if you care about such things, it does a good job of getting an "R" rating.

"Last Summer luxury trains began whisking passengers in style between the Atlantic and Pacific Oceans, along a forty-seven mile track that roughly parallels the Panama Canal... The Panama Railway Company [a consortium of US firms] is renovating an existing an existing building in Balboa to serve as its Pacific terminal. On the Atlantic side it's building a completely new terminal, located about five minutes from the Colon 2000 cruise ship terminal... [The] passenger service was almost an afterthought. To satisfy... passengers who now commute to the Colon Free Zone daily either by car or plane - the trains will be equipped with cherry and mahogany walls, as well as desks and computer plug-ins so executives can use their laptops during the one-hour trip. For those traveling on a monthly pass, the daily fare with be a $25 round trip. [The] Railway also wants to lure tourists...[They] chose trains with big windows to maximize the views... [and] also put a nine-foot-long stainless steel viewing deck on the end of each car, allowing tourists to step out and smell the jungle."

For anyone who remembers the old Panama Railroad, the above sounds fantastically luxurious. I expect to be making an in-country tour this coming Dry Season. I hope it will include a train ride. At the end of my last cruise ship lecture tour, I got off at the Gatun Yacht Club and was driven to Tocumen to fly home. The Trans-Isthmian Highway is one continuous urban sprawl now, and the drive took over two hours. So the train alternative would certainly be attractive.

On a less positive note, the Panama banking industry has been noted to have its problems. A few decades back it started off trying to be the Switzerland of Central America. This made it the center for branches of quite a few international banks. However, the globalization and the internet have lessened the need for this type of operation and some multi-national financial institutions have pulled out. In addition, due to money laundering accusations against some operations, Panama banks are under the gun. Some countries such as Mexico are levying 30% or more witholdings on transactions originating in Panama. Right now the banking industry remains sound in Panama, but has to adapt to the changing times