This information has been around since this past August, but I am sure, since no media spoke of it, you, like me, probably had no idea about it.
The cargo ship, Ping May, while on its way to the Netherlands was inspected by agents of the Columbia Coast Guard who discovered approximately 40 kilograms, or about ninety pounds, of cocaine hidden in the shipment of coal in the ship’s hold.
The Colombian Coast Guard is conducting an ongoing investigation.
The Ping May is owned by the Foremost Maritime Corporation.
This company has been the source of much of Senator Mitch McConnell’s wealth as it is owned by his in-laws, the Chao family, and they have been making substantial donations to his present mid-term campaign.
Because, like so many shipping companies, McConnell’s in-laws’ company conceals its identity and limits its legal liability through an array of tax shelters and foreign registrations, the general public, and Kentuckians specifically have heard nothing about this.
The Ping May is registered by a limited liability company in the Marshall Islands, and flies the Liberian flag.
James Chao began making donations to McConnell back in the 1980s, and in 1993 Mitch married his daughter Elaine. She was a former Reagan administration official who eventually served as secretary of labor in the George W. Bush cabinet.
The company got its start when James, a sea captain, came to the United State and, after a few years getting his feet on the ground and his shipping company up and running became the major agent for shipments of rice to Vietnam during the war, and Foremost carried A.I.D. cargo for the United Nations during the Bangladesh war.
Mitch McConnell opposes carbon dioxide limits imposed by the federal government that would impact the domestic coal market. He stresses the role of coal in developing countries and the rising coal trade.
His father-in-law’s company ships coal from ports in Australia and Colombia to Asia and Europe.
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Even though the company is headquartered in New York City, because the ships of the line are flagged in Liberia, their crews work under Liberian laws where intimidation of employees is allowed, and labor unions are locked out.
The company also pays lower tonnage taxes than ships that fly the US flag.
The Marshall Islands have “no taxation, lax regulation, and no requirements for disclosure of many corporate details—even to the United States government,” according to a report in World Policy Journal.
His connection to the company by marriage may explain how McConnell’s personal wealth has grown seven-fold especially since his father-in-law gave him and his wife a gift totaling between $5 million and $25 million in 2008.
This was certainly a good thing when the financial collapse of 2008 happened. It helped the McConnells pay more than $100,000 in mortgage debt on their Washington home.
Because of this gift, McConnell then became one of the wealthiest members of the Senate with the $22 million he is worth.
The gift could also explain why Mitch has softened his rhetoric about China’s human rights abuses.
McConnell has lent his own campaign $1.8 million during these final days, and the Foremost Maritime Company and its employees chipped in over $90,000 which, I am sure, was totally voluntary.
This cocaine mess has gone unmentioned for three months.
I was told about it over dinner on Sunday night, and went and checked it out on line.
Anyone interested should go check it out.