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Keyword: puertorico

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  • How to turn Puerto Rico into Hong Kong

    05/02/2016 10:27:48 AM PDT · by SeekAndFind · 38 replies
    Washington Times ^ | 05/02/2016 | Stephen Moore and Arthur Laffer
    Later this week or next, Congress will take up legislation to rescue the commonwealth of Puerto Rico from its financial crisis that is getting worse by the day. Puerto Rico faces more than $70 billion of debt and the government is already in technical default on many of its bonds. Billions more come due in weeks ahead and the government says they are out of money to repay. These debts don’t even include an additional $43.2 billion of unfunded pension liabilities. Add it all together and the debt reaches at least 150 percent of GDP. That’s a lot of weight...
  • Puerto Rico Says Will Default Tomorrow, Begs Congress For Help "Or Else Crisis Will Get Worse"

    05/01/2016 4:39:02 PM PDT · by tcrlaf · 64 replies
    Zerohedge ^ | 5-1-2016 | Durden
  • Congress, Not Obama’s Cronies, Can Save Puerto Rico

    04/27/2016 8:11:32 AM PDT · by Sean_Anthony · 4 replies
    Canada Free Press ^ | 04/27/16 | Megan Barth
    Speaker Ryan has made it crystal clear that House Republicans' number one priority is to shield American taxpayers from a bailout of Puerto Rico My problem lies in reconciling my gross habits with my net income.—Errol Flynn Due to Puerto Rico’s gross habits, the commonwealth has amassed a total debt of over $72 billion and has already defaulted on $221 million of its’ debt. When unfunded liabilities (pensions) are included, these additional costs bring the total value of their debt closer to $165 billion, approximately $150% of its’ GDP.
  • Paul Ryan's Biggest Test Yet: Saving Puerto Rico From Congress

    04/25/2016 9:09:11 AM PDT · by yoe · 29 replies
    Daily Read List ^ | April 25, 2016 | Billy House
    Puerto Rico’s complex debt crisis is shaping up as the first true test of Paul Ryan’s six-month old speakership.[snip] The high stakes explain why Ryan’s office has been involved -- often behind the scenes -- from the start. It could also ultimately find him having to strong-arm or bypass fellow conservatives, a move that would also break his promise for a new, bottom-up approach to running the House. Either way, time is running short. Congress is already blowing through a May 1 debt repayment deadline and Ryan needs to get something through both chambers before July 1 to avoid a...
  • Obama Cronies Cashing in on Puerto Rican Debt Crisis

    04/15/2016 11:15:38 AM PDT · by Kaslin · 6 replies
    Townhall.com ^ | April 15, 2016 | Brian McNicoll
    It’s not just the chickens that have come home to roost in Puerto Rico. It’s the hacks as well. The whole thing can be summed up in two words – Hack City. There were the public-sector union hacks whose contracts drove the Commonwealth into what is now estimated at $72 billion in debt. There were the government officials who encouraged this profligacy with indulgent hiring. There are the hacks in Washington who just want to send a big check and forget the whole thing, rather than insist on the reforms that put Puerto Rico in these straits in the first...
  • Paul Ryan: Don’t Call My Puerto Rico Bailout a “Bailout”, Call It “Restructuring”

    04/14/2016 10:53:40 AM PDT · by detective · 22 replies
    Conservative Treehouse ^ | 13 Apr 2016 | Sundance
    Please insert a big fat TOLDYASO right here. Speaker of the House Paul Ryan is lashing out at opponents to his Puerto Rico bailout bill demanding they stop calling it a “bailout”. Instead Ryan demands his opposition use the gaslighting term “restructuring”. Hogwash.
  • Committee on Natural Resources Releases Puerto Rico Legislation

    04/13/2016 9:10:59 AM PDT · by cll · 11 replies
    Today, the House Committee on Natural Resources released H.R. 4900, the “Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA).” Committee Chairman Rob Bishop (R-UT) and bill sponsor Rep. Sean Duffy (R-WI) issued the following statements: “We are nearing the conclusion of a collaborative and open drafting process that has involved all stakeholders to reach a responsible consensus. “This package of reforms will restore the guardrails of freedom and self-governance in Puerto Rico. It will hold Puerto Rico accountable to its debt, uncover audited financial statements, enforce fiscal responsibility and cut red tape holding down the Island’s economy. It provides...
  • Puerto Rico legislature ignores Constitutions, gives Governor sweeping powers

    04/06/2016 10:13:02 AM PDT · by cll · 29 replies
    The draft "Law on Moratorium Emergency and Financial Rehabilitation of Puerto Rico" would give many absolute and unilateral powers to governor Alejandro García Padilla, including the option of expropriating properties from private companies that refuse to continue to provide services to the Government during an emergency declaration. According to the bill, which was approved this morning in the House of Representatives after being approved in the Senate yesterday, the governor "may take all reasonable and necessary measures to continue providing essential public services and protect the health, safety and welfare, including, without limitation, expropriating property rights of a contractor". That...
  • Walmart wins suit against Puerto Rico; tax declared invalid

    03/28/2016 8:20:31 PM PDT · by cll · 12 replies
    AP via Yahoo! News ^ | 3/28/2016 | Danica Cotto
    <p>SAN JUAN, Puerto Rico (AP) — Retail giant Walmart won a legal victory Monday in a fight over taxation by Puerto Rico's government.</p> <p>A federal judge in the U.S. island territory ruled that a modified tangible-property tax is invalid. The ruling was issued as Puerto Rico's government rushes to find new sources of revenue and a debt restructuring mechanism from the U.S. Congress while struggling through a decade-long economic crisis.</p>
  • Walmart wins suit against Puerto Rico; tax declared invalid

    03/28/2016 6:53:05 PM PDT · by Olog-hai · 11 replies
    Associated Press ^ | Mar. 28, 2016 7:54 PM EDT | Danica Coto
    Retail giant Walmart won a legal victory Monday in a fight over taxation by Puerto Rico’s government. A federal judge in the U.S. island territory ruled that a modified tangible-property tax is invalid. The ruling was issued as Puerto Rico’s government rushes to find new sources of revenue and a debt restructuring mechanism from the U.S. Congress while struggling through a decade-long economic crisis. Gov. Alejandro Garcia Padilla said his government will appeal the decision. “The judge just took away $100 million from the people of Puerto Rico and gave it to Walmart,” he said, referring to the revenue the...
  • Plan to Rescue Puerto Rico Advances, Led by House Republicans

    03/24/2016 5:48:20 PM PDT · by cll · 22 replies
    The New York Times ^ | 3/24/2016 | Mary Williams Walsh
    Politicians in Washington are coalescing around a financial plan to rescue Puerto Rico, just weeks before an expected major default on bond payments that would spread more turmoil through the island’s shaky economy. The plan, being drafted as legislation by House Republicans, would not grant Puerto Rico’s most fervent request: permission to restructure its entire $72 billion debt in bankruptcy. It would, however, give the island certain crucial tools that bankruptcy proceedings can offer — but only if it first comes under close federal oversight and meets other conditions. The oversight would be provided by a five-member voting board, selected...
  • California man faces sex trafficking charge in Puerto Rico

    03/24/2016 7:59:33 AM PDT · by cll · 10 replies
    SAN JUAN, Puerto Rico (AP) — Federal authorities in Puerto Rico have arrested a California man who allegedly traveled to Puerto Rico to have sex with a minor. U.S. Immigration and Customs Enforcement said Wednesday that 38-year-old Shane Yoder of Fairfield told an undercover agent he was going to the U.S. territory to have sex with a 9-year-old girl. He has been charged with attempted sexual trafficking of minors. It was not immediately clear if he had an attorney. Yoder was the president of the Islamic Circle of North America chapter in Sacramento, California.
  • Sotomayor Helps Puerto Rico Argue Its Bankruptcy Case [Worst Ever Supreme Court Appointment!]

    03/23/2016 6:42:06 PM PDT · by Steelfish · 30 replies
    YahoNews ^ | March 23, 2016 | Noah Feldman
    Sotomayor Helps Puerto Rico Argue Its Bankruptcy Case Noah Feldman Before Tuesday, I’d have said that Puerto Rico had no chance to win its legal fight to let its municipalities and utilities declare bankruptcy. That's how the island hopes to resolve its overwhelming debt problems, but the federal bankruptcy code says that it can't. That's what the U.S. Court of Appeals for the First Circuit held last summer, unanimously. The statute seemed so clear that even Judge Juan Torruella, the appellate court’s only Puerto Rican member, concurred in an outraged separate opinion criticizing the federal law. Then Sonia Sotomayor stepped...
  • Rihanna is Moving to San Juan, Puerto Rico

    03/23/2016 9:25:02 AM PDT · by cll · 36 replies
    In a surprise to everyone in Los Angeles and probably most people in San Juan, Puerto Rico, pop superstar Rihanna announced today in an interview that she is moving to San Juan. Rihanna said that she was “tired of the L.A. lifestyle” and wanted to “live in a place where people are real and genuine”. She recently visited the area for a few days and, according to her publicist, “Rihanna has been to San Juan many times in the past but this time she just felt so strongly that this is the place she needs to be at this time...
  • Sotomayor Helps Puerto Rico Argue Its Bankruptcy Case

    03/23/2016 8:14:01 AM PDT · by oblomov · 21 replies
    Bloomberg View via Yahoo! Finance ^ | 23 Mar 2016 | Noah Feldman
    Before Tuesday, I’d have said that Puerto Rico had no chance to win its legal fight to let its municipalities and utilities declare bankruptcy. That's how the island hopes to resolve its overwhelming debt problems, but the federal bankruptcy code says that it can't. That's what the U.S. Court of Appeals for the First Circuit held last summer, unanimously. The statute seemed so clear that even Judge Juan Torruella, the appellate court’s only Puerto Rican member, concurred in an outraged separate opinion criticizing the federal law. Puerto Rico's Slide Then Sonia Sotomayor stepped in. Oral arguments before the Supreme Court...
  • Will Obama Demand Cuba Hand Over Fugitive Cop-Killer?

    03/22/2016 7:14:27 AM PDT · by george76 · 25 replies
    NBC ^ | Mar 20 , 2016 | Tom Winter
    White House officials would not tell NBC News whether President Obama will raise the issue of 70 fugitives from U.S. justice — including convicted cop-killer JoAnne Chesimard — who are hiding in Cuba when he meets Cuban leaders during his visit to the island. ... Chesimard, who fled to Cuba in 1984 after escaping from a New Jersey prison in 1979, was convicted of the 1973 execution-style murder of New Jersey State Trooper Werner Foerster. She is on the FBI's Most Wanted International Terrorists list, and is the most notorious of a group of criminals and violent radicals who have...
  • Denmark world's happiest country, Burundi least: new report shows

    03/16/2016 1:30:27 PM PDT · by cll · 17 replies
    Reuters ^ | 3/16/2016 | Philip Pullella
    Denmark overtook Switzerland as the world's happiest place, according to a report on Wednesday that urged nations regardless of wealth to tackle inequality and protect the environment. The report, prepared by the Sustainable Development Solutions Network (SDSN) and the Earth Institute at Columbia University, showed Syria, Afghanistan and eight sub-Saharan countries as the 10 least happy places on earth to live. The top 10 this year were Denmark, Switzerland, Iceland, Norway, Finland, Canada, Netherlands, New Zealand, Australia, and Sweden. Denmark was in third place last year, behind Switzerland and Iceland. The bottom 10 were Madagascar, Tanzania, Liberia, Guinea, Rwanda, Benin,...
  • Federal judge upholds Puerto Rico's same-sex marriage ban

    03/15/2016 6:05:56 AM PDT · by cll · 13 replies
    Christian Today ^ | 3/15/2016 | John Hicap
    A U.S. federal judge has upheld Puerto Rico's ban on same-sex marriage and ruled that the U.S. Supreme Court's ruling last year that legalised gay marriage does not apply to Puerto Rico since it is an "unincorporated territory" and not a U.S. state. In his decision, U.S. District Court Judge Juan Perez-Gimenez wrote, "One might be tempted to assume that the constant reference made to the 'States' in Obergefell includes the Commonwealth of Puerto Rico. Yet, it is not the role of this court to venture into such an interpretation." He said, "For the foregoing reasons, the court concludes that...
  • Democrats propose allowing Puerto Rico to declare bankruptcy

    03/14/2016 12:13:04 PM PDT · by jazusamo · 25 replies
    The Hill ^ | March 14, 2016 | Peter Schroeder
    Senate Democrats have unveiled legislation to alleviate Puerto Rico’s debt woes, urging that the island be allowed to declare bankruptcy on all of its debt. The bill, released Monday, would allow the U.S. territory to restructure its $72 billion in outstanding debt and create a fiscal oversight board for the island. “For the 3.5 million American citizens living on the island of Puerto Rico, time is running short,” said Sen. Bob Menendez (D-N.J.), one of the bill’s sponsors. “Congress has to act immediately to fix the federal funding shortfalls and give Puerto Rico the tools it needs to fully restructure...
  • The Dam Bursts for Rubio

    03/09/2016 1:18:05 PM PST · by Cincinatus' Wife · 81 replies
    The National Review ^ | March 9, 2016 | Jim Geraghty Read more at: http://www.nationalreview.com/corner/432553/dam-bursts-rubio
    It’s not that last night’s contests in Idaho, Hawaii, Michigan and Mississsippi doomed Marco Rubio’s campaign; it’s that the four bad performances atop Rubio’s previous disappointments — New Hampshire, South Carolina, Nevada, and just about everywhere else not called Minnesota and Puerto Rico – have now created what feels like an insurmountable perception of defeat. Three Rubio-friendly conservative writers — Jen Rubin of the Washington Post, Dan McLaughlin of Red State, and Guy Benson of Townhall.com — contend it’s time for Rubio to quit the race and endorse Ted Cruz. Jen and Dan urge Rubio to strike the deal now...
  • Surging Puerto Rican population is remaking the country's biggest swing state

    03/09/2016 3:22:33 AM PST · by 2ndDivisionVet · 30 replies
    The Daily Press ^ | March 9, 2016 | Kate Linthicum
    Rafael Rivera left Puerto Rico for central Florida late last year, fed up with the island's escalating debt crisis and dwindling sales at his cellphone shop. Five months later, Rivera, 36, has a nice apartment in the Orlando suburb of Kissimmee and a job at a nearby Hyundai dealership. He's also registered to vote. Because Puerto Ricans are the fastest-growing group of voters in a contested corridor of a battleground state, "you could make the case that they're the most important voters in the United States," said Fernand Amandi, a Florida pollster. "Puerto Rican voters have completely upended the understanding...
  • Marco Rubio Wins Puerto Rico GOP Presidential Primary; Vote Could Include Criminals

    03/06/2016 6:56:28 PM PST · by SeekAndFind · 13 replies
    The Inquisitr ^ | 03/06/2016
    Florida Senator Marco Rubio scored a much-needed win Sunday night in Puerto Rico, where he was declared the winner in the commonwealth’s Republican presidential primary, according to CNN. Prior to Sunday’s win, the only other state to throw its support behind the first-term senator was Minnesota. Early results from the island territory show the vote giving Rubio a wide margin in Puerto Rico, meaning he could top the 50 percent magic number that would award him the island’s 20 or more delegates with none going to challengers Senator Ted Cruz of Texas, Governor John Kasich of Ohio, or businessman Donald...
  • Rubio Hopes Much-Needed Puerto Rico “Blowout” Leads To Florida Momentum

    03/06/2016 6:22:46 PM PST · by 2ndDivisionVet · 33 replies
    BuzzFeed News ^ | March 6, 2016 | Adrian Carrasquillo
    Rubio surrogates and aides quickly moved to cast his victory in Puerto Rico as a needed momentum shift a week before the critical Florida primary. Runners racing to bring results from individual polling sites to the Marco Rubio campaign headquarters in San Juan had good news for Rubio's campaign manager Jose Fuentes on the island: The Cuban-American Florida senator was cleaning up in Puerto Rico. "It's going to be a blowout," he told BuzzFeed News, before the race was officially called for Rubio. He had 73% of the vote with 61% of precincts reporting. While that good result for the...
  • Rubio Sweeps Puerto Rico, Cruz Third

    03/06/2016 2:24:35 PM PST · by 2ndDivisionVet · 41 replies
    The Texas Tribune ^ | March 6, 2016 | Patrick Svitek
    U.S. Sen. Ted Cruz was set Sunday to collect no delegates in Puerto Rico as Marco Rubio swept the territorial primary in his second win of the GOP presidential nominating race. Rubio, Cruz's colleague in the U.S. Senate from Florida, was projected to win the under-the-radar contest with 74 percent of the vote, well above the threshold to take all 23 delegates at stake. With 41 percent of precincts reporting, Cruz was coming in third with nine percent and Donald Trump second with 13 percent. The outcome is unlikely to change the Texas senator's argument that he is the most...
  • Puerto Rico Republican Primary Results

    03/06/2016 12:37:56 PM PST · by PapaBear3625 · 143 replies
    Decision Desk HQ ^ | 3/6/2016 | Decision Desk HQ
    Polls closed 3pm EST 23 delegates at stake.
  • Thousands of Puerto Rico inmates vote in Republican primary

    03/06/2016 7:17:35 AM PST · by Enlightened1 · 25 replies
    NJ Hearld ^ | 03/04/16 | DANICA COTO
    SAN JUAN, Puerto Rico (AP) — Thousands of inmates lined up in prisons across Puerto Rico on Friday to cast early ballots in the U.S. territory's Republican primary, some saying they hoped the elections can help lift the island out of an economic crisis. At least 6,500 of the island's 11,500 prisoners are registered to vote, and government officials said this year's turnout was strong. Even prisoners not registered are allowed to participate in the open primaries, which are held two days ahead of the vote for the general population. The island's Republican primary is Sunday while Democrats vote...
  • Puerto Rico Victory For Trump, Will Erase Cruz 15 Delegate Gain From Last Night (Vanity)

    03/06/2016 6:59:43 AM PST · by Enlightened1 · 78 replies
    There is an Open Primary in Puerto Rico today.  It's worth 23 Delegates.  If Trump wins this (which he should), then he should be able to erase most if not all the Delegates that Cruz gained last night (15 Delegates closer to Trump) . Trump should win Mississippi, Michigan and Hawaii on Tuesday expanding his Delegate lead even further along. Here is the link to the Delegate count.http://www.realclearpolitics.com/epolls/2016/president/republican_delegate_count.html    
  • Inside La Isla: The Primary in Puerto Rico

    03/05/2016 8:16:55 PM PST · by 2ndDivisionVet · 4 replies
    The Atlantic ^ | March 4, 2016 | Vann Newkirk
    What is voting in the Puerto Rico primary like? As we reported earlier this week, there are no polls in advance of Puerto Rico's March 6 Republican primary, so it is hard to get a sense of what issues are shaping the race or even how Puerto Rican residents view the primaries. Puerto Ricans on the island can't vote for president in the general elections, but the Republican primary on Sunday, March 6, and the Democratic caucus on June 5 give the territory a chance to put its delegates to use in perhaps addressing some of the island's pressing issues,...
  • March 5, 6 GOP Primary Primer (KS, KY, LA, ME, PR): Closing Times, Polling Data, Delegate Formulas

    GOP Primaries for March 5 (Kansas, Kentucky, Louisiana, Maine)154 of 2,472 delegates allocated GOP Primary for March 6 (Puerto Rico)23 of 2,472 delegates allocated
  • Trump celebrates with Puerto Rico [on the 99th anniversary of their U.S. citizenship]

    03/02/2016 2:37:13 PM PST · by cll · 9 replies
    El Vocero (Quick Google translation from Spanish) ^ | 03/02/2016 | Jennisa Marrero Morales
    Although at one time it was alleged that the primary candidate of the Republican Party for President of the United States, Donald Trump, wanted to take away American citizenship from Puerto Ricans once he took office, he sent a message this afternoon in the 99th anniversary of the Jones Act 1917. "I join the 3.6 million US citizens living in that beautiful island to celebrate such an important date for all Puerto Ricans and all Americans also," said the magnate in written statements. In his message, the businessman highlighted the natural beauty of the island, but established "the best that...
  • Will GOP Bailout Big Spenders in Puerto Rico?

    03/02/2016 8:25:57 AM PST · by 54fighting · 12 replies
    Inside Sources ^ | 3/2/16 | Andrew Quinlan
    Years of fiscal irresponsibility have caught up to Puerto Rico. Its government has long lived beyond its means and today the bills are coming due, but the island’s economy has also been hampered by costly local and federal mandates. Rather than reward Puerto Rico’s spend-happy politicians with a bailout as legislators are currently contemplating, Congress should remove impediments to economic growth so that the island can prosper. As the third-largest issuer of municipal bonds in the United States, Puerto Rico has racked up $73 billion in debt under the mistaken notion that borrowing and spending are the path to prosperity....
  • Puerto Rico’s Untold Tale of Corruption

    02/26/2016 9:28:03 AM PST · by Twotone · 18 replies
    Center for Individual Freedom ^ | Feb. 24, 2016 | Jeff Mazzella
    By now, many Americans are familiar with the public debt fiasco that plagues Puerto Rico. The issue has steadily risen in prominence as the gravity of Puerto Rico's debt load sets in on the American public. Certainly, the island's economic mismanagement has taken center stage in Washington, as Puerto Rico Governor Alejandro Garcia Padilla has been called to testify numerous times before Congress.
  • US: Puerto Rico could shut down if no debt restructuring

    02/25/2016 4:06:23 PM PST · by Olog-hai · 20 replies
    Associated Press ^ | Feb 25, 2016 2:20 PM EST | Danica Coto
    The U.S. Treasury Department on Thursday warned of a potential government shutdown in Puerto Rico and lengthy litigation if Congress doesn't approve a debt restructuring plan for the U.S. territory soon. Antonio Weiss, counselor to the U.S. Treasury secretary, issued the warning as House Republicans held hearings in Washington during a final push to address the island's failing economy. Weiss said he supports a plan that would temporarily suspend litigation to prevent a shutdown of basic government services on the U.S. territory and give time for voluntary negotiations with debt holders. ...
  • White House steps up aid for financially ailing Puerto Rico

    02/25/2016 9:49:05 AM PST · by Olog-hai · 23 replies
    Associated Press ^ | Feb 25, 2016 11:41 AM EST | Kevin Freking
    Hoping to spur economic development in financially ailing Puerto Rice, the White House said Thursday it will speed access to almost $400 million for roads and other public works projects on the island. [...] But the White House also said Congress needs to give Puerto Rico the ability to seek bankruptcy protection under a framework reserved for U.S. territories. That proposal has drawn objections in Congress, with some Republican leaders saying Puerto Rico has the tools to restructure a large portion of its debt voluntarily. ...
  • To control the spread of Zika, Puerto Rico government orders price freeze on condoms

    02/05/2016 12:15:45 PM PST · by rrstar96 · 16 replies
    NotiUno.com ^ | February 5, 2016 | NotiUno
    (English translation) In the wake of scores of [Zika] cases that have been reported in eastern Puerto Rico and due to fears that it will spread to other municipalities, Department of Consumer Affairs (DACO) Secretary Nery Adames announced that the agency added condoms to the list of price freezes related to Zika-virus prevention due to the alleged relationship to sexual transmission. "Because of the causal relationship that has been established between a mosquito bite and the probability of sexual transmission, a price freeze on prophylactics and/or preservatives has been ordered. Therefore, every store, service station, place, or business that sells...
  • Zika virus taking a bite out of tourism in Puerto Rico

    02/04/2016 12:36:52 PM PST · by rrstar96 · 2 replies
    NotiUno.com ^ | February 4, 2016 | NotiUno
    (English translation) The tourism industry in Puerto Rico has begun to feel the impact of [the] Zika [virus]. Hotel & Tourism Association President Clarisa Jimenez told the newspaper El Vocero that some hotels have reported cancellations after the island was included among scores of countries under the World Health Organization alert declaring the disease a global public-health emergency. The cancellations have been mainly for trips related to so-called destination weddings since guests have included pregnant women, a population for whom public-health authorities have recommended special caution. According to Jimenez, it is still too difficult to estimate the economic impact of...
  • Walmart threatens to leave Puerto Rico over taxes

    02/04/2016 7:05:33 AM PST · by rrstar96 · 57 replies
    NotiUno.com ^ | February 4, 2016 | NotiUno
    (English translation) During his appearance yesterday [Wednesday] before Judge Jose A. Fuste at Federal Court in Hato Rey, Walmart Vice President for Special Taxes in Puerto Rico Anthony Walker stressed that the company will be unable to continue operations in the island if Law 72, known as the "Walmart tax" which imposes on the multinational [corporation] an estimated 91.5% tax rate, stands. "That is not sustainable for us. We recently closed seven stores in Puerto Rico as part of a strategy that has forced us to close a total of 254 stores around the world. Here in Puerto Rico, Walmart...
  • Questionable Charity in Puerto Rico Has One Employee— the Governor’s Brother

    01/21/2016 3:33:20 PM PST · by jazusamo · 8 replies
    NLPC ^ | January 21, 2016 | Peter Flaherty
    A nonprofit group founded by ex-New York SEIU boss Dennis Rivera has received big contributions from corporations that do business with the Puerto Rican government, while employing the governor's brother as its only employee. This arrangement was reported today by Alana Goodman of the Washington Free Beacon, based on information provided by NLPC. The charity, now known as "Sociedad EconĂłmica De Amigos del Pais," was founded in New York in 1996 by Rivera and former New Mexico Governor Bill Richardson as the Hispanic Education and Legal Fund (HELF). Its name change, relocation to Puerto Rico and change of mission...
  • Puerto Rico Is Greece, & These 5 States Are Next To Go

    01/17/2016 10:47:05 AM PST · by MtnClimber · 41 replies
    Zero Hedge ^ | 3 Jan, 2016 | Tyler Durden
    As Wilbur Ross so eloquently noted, for Puerto Rico "it's the end of the beginning... and the beginning of the end," as he explained "Puerto Rico is the US version of Greece." However, as JPMorgan explains, for some states the pain is really just beginning as Municipal bond risk will only become more important over time, as assets of some severely underfunded plans are gradually depleted. But, as JPMorgan details, Muni risk is on the rise for US states, but broad generalizations do not apply (in other words, these five states are 'screwed')... The direct indebtedness of US states (excluding...
  • GameStop to close its Puerto Rico stores

    01/15/2016 10:00:35 AM PST · by rrstar96 · 6 replies
    NotiUno.com (Spanish) ^ | January 11, 2016 | NotiUno
    (English translation) The GameStop video-game stores in Puerto Rico will close. The United States-based company confirmed the closure as it pointed out that the decision was made due to the government's high taxes which it alleges have affected its operations in the island. It was reported that, unfortunately, over 500 employees will be laid off. According to GameStop's Public Relations Director, they will leave Puerto Rico as early as March.
  • The Party Is Over In Puerto Rico

    01/15/2016 9:05:20 AM PST · by Kaslin · 47 replies
    Townhall.com ^ | January 15, 2016 | Steve Sherman
    Puerto Rico is stunningly beautiful. It's a virtual paradise...Caribbean white sand beaches, a close proximity to the U.S., they speak both English and Spanish, if you're an American citizen you don't need for a passport as Puerto Rico is a US Commonwealth. They've got snorkeling, great food, a rainforest, and a stunning historical fort from the imperial days sitting atop a bluff overlooking the sea. With all that natural attraction you'd think Puerto Rico would be knocking it out of the park economically. Tourism alone should be the driving force to keep the economy rocking. Every American should want to...
  • U.S. Treasury Secretary to visit Puerto Rico next week

    01/15/2016 8:12:47 AM PST · by rrstar96 · 8 replies
    NotiUno.com (Spanish) ^ | January 15, 2016 | NotiUno
    (English translation) United States Secretary of the Treasury Jacob Lew will visit Puerto Rico next Wednesday to meet with government and civic leaders. It was reported that they will discuss the island's fiscal and public-debt crisis. According to Treasury's spokesman, among the people Lew is scheduled to meet with are Governor Alejandro Garcia Padilla, Resident Commissioner Pedro Pierluisi, and legislative, community, labor, and business leaders.
  • SCOTUS Oral Arguments in Puerto Rico Double Jeopardy and Sovereignty Case

    01/13/2016 12:35:11 PM PST · by cll · 8 replies
    The argued case relates to the matter of the sovereignty (or lack of) of the several territories of the United States (Puerto Rico, Guam, US Virgin Islands, American Samoa and the Northern Mariana Islands) in a double-jeopardy case. In essence, the Puerto Rico Supreme Court Court ruled that the island is under the total control of the U.S. Congress according to the territorial clause of the U.S. Constitution and that as such, it lacks the sovereignty of a regular U.S. State, and that because of that a defendant already tried in the federal district court cannot be tried for the...
  • What is Epiphany? Why do Christians mark this feast day

    01/06/2016 4:25:59 AM PST · by cll · 20 replies
    Express UK ^ | 01/06/16 | Joe Sheppard
    TODAY marks the official end to the Christmas season as Christians across the world celebrate the feast of the Epiphany. The celebration falls on the 12th day of Christmas and marks the baptism of Jesus Christ by John the Baptist. Pope Francis will today hold the annual Holy Mass for the Epiphany in St Peter's Basilica in Rome marking a celebration that was first observed by western Christians in the 4th century. The Epiphany also marks the visit of the three Wise Men to baby Jesus.
  • Puerto Rico defaults on $37 mn in debt

    01/05/2016 4:20:57 PM PST · by bkopto · 12 replies
    La Prensa ^ | Jan 5, 2015 | staff
    The government of Puerto Rico has failed to make $37.3 million in debt repayments, a selective default dictated by lack of liquidity, Public Affairs Secretary Jesus Manuel Ortiz told EFE Tuesday. The island's government signaled last week that it would not make the payments, which were due by midnight Monday. The defaulted debt corresponds to $35.9 million in bonds issued by the Puerto Rico Infrastructure Finance Authority and $1.4 million in Public Finance Corp. bonds. Rating agency Standard & Poor's said Monday that if Puerto Rico didn't pay the $37.3 million by midnight, the bonds would be declared in default....
  • Gallup: Only 2% Say 'Guns/Gun Control' Among Nation's Most Important Problems

    01/04/2016 9:10:48 AM PST · by rktman · 15 replies
    cnsnews.com ^ | 1/4/2015 | Susan Jones
    As President Obama prepares to announce new executive actions on gun control Monday, a newly released Gallup Poll shows that "guns/gun control" ranked near the bottom of Americans' most pressing concerns in 2015. In fact, guns/gun control ranked 19th out of 23 top problems facing the country last year.
  • Puerto Rico Is Greece, and These 5 States Are Next To Go

    01/03/2016 6:22:48 PM PST · by SeekAndFind · 31 replies
    Zero Hedge ^ | 01/03/2016 | Tyler Durden
    <p>As Wilbur Ross so eloquently noted, for Puerto Rico "it's the end of the beginning... and the beginning of the end," as he explained "Puerto Rico is the US version of Greece." However, as JPMorgan explains, for some states the pain is really just beginning as Municipal bond risk will only become more important over time, as assets of some severely underfunded plans are gradually depleted.</p>
  • Puerto Rico Governor's Mansion Will Celebrate the Epiphany on January 5

    01/01/2016 5:26:13 PM PST · by rrstar96 · 8 replies
    ElVocero.com (Spanish) ^ | January 1, 2016 | Ayeza Diaz
    (English translation) While the [Puerto Rico] government is bracing for the consequences of partial non-payment of its debt with creditors, the Governor's Mansion is preparing to celebrate an Epiphany festivity on January 5. It was announced in an invitation released to the general public that the activity will begin with visits to the grounds of the Santa Catalina Palace [the Governor's Mansion] from 3:00 PM to 5:00 PM. The Executive Mansion will later present a musical performance by the Puerto Rico State Band under director and composer Angel "Cucco" Pena. According to the provided information, the concert is scheduled to...
  • Move Gitmo Prisoners to Puerto Rico?

    01/01/2016 1:46:51 PM PST · by rrstar96 · 24 replies
    The Fiscal Times ^ | December 28, 2015 | Marc Joffe
    The Obama Administration is struggling to find a cost effective way to shift Guantanamo Bay detainees to prisons on the U.S. mainland. Meanwhile, Puerto Rico is struggling through an unprecedented fiscal and economic crisis. These two problems could create a unique policy opportunity: to save federal taxpayer dollars and boost the Puerto Rican economy, move the detainees to the Commonwealth rather than to the mainland U.S. At his year-end press conference, President Obama continued to advance the fiscal case for shutting down the Guantanamo detention camp. In answer to a reporter's question, President Obama said, "I think we can make...
  • Puerto Rico Panic

    12/30/2015 4:37:59 PM PST · by Retain Mike · 19 replies
    World Magazine ^ | December 11, 2015 | Marvin Olasky
    Liberals are trumpeting a looming “humanitarian crisis” that demands a federal bailout: Otherwise, Puerto Rico will have to cut spending on schools and hospitals. Conservatives are emphasizing a governance crisis: Many Puerto Rican politicians have won votes by overspending; and if they get away with it, their counterparts in California, Connecticut, Illinois, Massachusetts, New Jersey, New York, and other states will keep running toward the cliff. One piece of political evidence: New York Gov. Andrew Cuomo and New York City Mayor Bill de Blasio flew to Puerto Rico last month and marched with thousands who demanded that Washington send more...