Port of Long Beach executive director Richard Steinke delivered the annual State of the Port address today, and the speech was viewable online from the Port’s website. Steinke outlined an “optimistic but realistic vision for making 2009 a solid building block for the future.”
Even with an positive outlook for 2009, Steinke was realistic about the Port’s troubles back in ’08.
“There’s no way to sugarcoat it, it wasn’t a pretty picture.” He acknowledged that the down economy hit profits hard, but also said that the Port is not afraid to borrow money to continue their current projects and noted that the Port of Long Beach has the highest credit rating of all seaports, nationwide.
“We believe that the long-term outlook for out Port is very bright,” he said, acknowledging that some economists do not predict an improved economy until 2011.
“It’s only a matter of time before the economy rebounds,” Steinke said, “So we’re taking very critical steps, proceeding with projects that will have short-term and long-term benefits to the economy.”
The live internet feed is all the rage these days, after Mayor Foster broadcast his State of the City on the web a few weeks ago. This is the first time the Port has offered the address online.
By Ryan ZumMallen, Managing Editor