Goldman Sachs’ port pitch coming unhinged
July 25, 2008 in Goldman Sachs, Humboldt Bay | No comments (Edit)
Goldman Sachs’ port pitch coming unhinged
The Times-Standard
Article Launched: 07/25/2008 10:34:46 AM PDT

Humboldt Bay Harbor, Recreation and Conservation District representatives on Thursday reported that negotiations with financial powerhouse Goldman Sachs and Co. over a port and rail marketing arrangement were potentially dead.

”I would say right now that there are huge, huge issues and questions that may be insurmountable,” said district counsel Paul Brisso.

Brisso — who sits on the committee handling the matter along with Commissioner Dennis Hunter, Treasurer Mark Wetzel and Executive Officer David Hull — said it’s highly unlikely a tentative agreement will be produced for the commission to consider.

Goldman Sachs approached the district in May, looking to market the port and the North Coast Railroad to investors. A Goldman Sachs representative said that billions in pension funds around the world were looking for long-term investment, and that infrastructure fit that bill.

Brisso said he was unable to go into detail on the sticking points of the negotiations, citing their confidentiality.