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Re: Good business vs. good investment

Sergio:

I agrre on mot of what you said. But let me give you some examples that you
might have forgot (unintentionally of course!). MASECA was not allawed to buy
MICONSA. But, what does the maseca's owner want MICONSA for when he is
already receiving a lot of subsidies? That is, Maseca has been able to get
lots of profits thanks to "unfair competence" based on lots of subsidies
which have sent lots of "molineros" to bankrupcy. References? Just go to see
the details about this industry: Canacintra (Perspectiva de la industria
molinera, 1993); Secofi (la industria alimentaria en Mexico, 1991, which
reports that in the lat 4 years around 1000 "molinos" have closed because of
the subsidies to Maseca). Even journalits Carlos Aparicio and Juan Nabeja
made a radio program about it when Carlos Salinas borrowed Maseca's owner's
plane to go to Monterrey (saying that he allowed Salinas to do that because
he has become richer an powerful thanks to Salinas). The case of Televisa? Do
you think they really wanted Imevision when they can place on the air as many
chanels as they want? I don't think Televisa needed it nor they wanted it.

Now, with respect to the cases you are saying about "privitizated
enterprises" which are now in bankrupcy or close to it. That is precisely one
of my points: they were thinking on making money in an speculative way not on
making the enterprise efficient. Otherwise, they wouldn't have reached
bankrupcy, would they? I realize however that this could be due to the
posibility that they didn't now what they were buying, but I don't think so! 

The cases of mexicana and Aeromexico are even worse. Just check the airfare
they charge per mile (or km) and compare them to those of other countries.
For example, is cheaper to flight from Dallas to Acapulco than from Mexico
city to Cancun. That's the ame case with car rental companies: one day of
rent (compact car) in Mexico city: close to 70 dollars, and they charge you 
seven days in one week, meanwhile in New York is close to 50 dollars and you
just pay 5 days for a week. Is this just a tax difference? No, it is not. Is
there competence in Mexico's car rental market? Yes, there is! Explanations?

o, I still think that entrepenuers in Mexico put their feet on the earth and
begin to do "good investments" and not only "short run good bussiness". By
the way, doe somebody think that thi might change if the group in power were
not "neoliberal and/or priista"? Because this think must change, but as
usual, the question is HOW to do it!

   Regards!
                                     Jorge Raygoza