W. Sumbawa eyeing Newmont stake
A couple of weeks ago, I saw an article by Yosef Ardi that ties in with this... Essentially, what's going on is classic Indonesian business skulduggery. Bumi, owned by the Bakrie clan, which as most people remember undermined (pun intended) Rio Tinto and took it over in a way that was nothing short of criminal. Of course, the good nationalist judges and government people sided with Bakrie/Bumi.
Now Bumi is moving in on Newmont, whose American boss is awaiting a verdict in the big Buyat Bay fiasco. If found guilty, despite all the scientific proof of his innocence, Newmont is said to be pulling out of RI in total frustration.... Now this, of course, would be great for Bumi/Bakrie, making it easier and much cheaper to take control of Newmont. So the question now is, how much has Bakrie influenced the judges/courts despite the mountain of evidence that the case should never even have been taken to court?
Ah, Indonesian politics/business/justice. Some people say "it's so complex," when in fact it's really soooooo simple and childish. I think most international analysts and armchair pundits are unable to let themselves believe that 50-year-old men who are gov't or biz leaders can be so childish. These analysts naturally look at events through their own mature, educated lenses without even thinking that an RI minister or CEO would act like a 10-year-old schoolboy trying to cheat on an exam. BUT that is it, that is what they do and the only way to analyze this country is to try to remember our own thought processes when we were little evil, conniving versions of 10-year-old Dennis the Menaces.
Now Bumi is moving in on Newmont, whose American boss is awaiting a verdict in the big Buyat Bay fiasco. If found guilty, despite all the scientific proof of his innocence, Newmont is said to be pulling out of RI in total frustration.... Now this, of course, would be great for Bumi/Bakrie, making it easier and much cheaper to take control of Newmont. So the question now is, how much has Bakrie influenced the judges/courts despite the mountain of evidence that the case should never even have been taken to court?
Ah, Indonesian politics/business/justice. Some people say "it's so complex," when in fact it's really soooooo simple and childish. I think most international analysts and armchair pundits are unable to let themselves believe that 50-year-old men who are gov't or biz leaders can be so childish. These analysts naturally look at events through their own mature, educated lenses without even thinking that an RI minister or CEO would act like a 10-year-old schoolboy trying to cheat on an exam. BUT that is it, that is what they do and the only way to analyze this country is to try to remember our own thought processes when we were little evil, conniving versions of 10-year-old Dennis the Menaces.