Free Republic

(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...

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 Económica 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...

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...

(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.

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...

(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.

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...

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.

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....

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.

<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>

(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...

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...

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...

There's no "Happy New Year" for Puerto Rico. Puerto Rico will default -- again -- on some of its bonds payments. The island owes about $1 billion to creditors on January 4. Governor Alejandro García Padilla said Wednesday that the island will make all payments except for $37.3 million. He claims the debts that will go unpaid were never guaranteed by Puerto Rico and the creditors should know this. It will be the second default in the island's history. The first default occurred in early August. Puerto Rico is trying to figure out how to deal with about $73 billion...

(English translation) PONCE - Officer Guarionex Candelario Rivera, the author of the tragic massacre that took the lives of a commander, a first lieutenant, and an officer at the Command Center of the Ponce Area Police Headquarters, had displayed problematic behavior that resulted in his having his gun taken for long periods. However, he regained his gun recently, although he suffered from "nerves" and occasionally went out to the streets as a reinforcement. Fifty-year-old Candelario, a resident of the Tallaboa Alta neighborhood in Penuelas and a 19-year veteran of the force, had been summoned to his workplace this morning. Different...

Miss Puerto Rico dared support Trump reg. muslims. She also refused to agree that 'we are all muslims'. This was directed at Michael Moore's latest photo-op. She was banned from the contest. If she had criticized Trump, I imagine she would have gotten a standing-o. [More on that 'old' news in followup post.] Michael Moore got snarky: "Miss Puerto Rico seems like a wonderful representative of maybe not of Puerto Rico but of Alabama, maybe? Mississippi, maybe?"

Miss Puerto Rico beauty queen, Destiny Velez, was suspended from the Miss America pageant yesterday after blasting Michael Moore and Muslims with a series of anti-Islamic tweets.

Miss Puerto Rico Destiny Velez has been indefinitely suspended by the official Miss America Organization after sending a series of offensive anti-Muslim messages on Twitter. Velez, 20, launched an anti-Muslim tirade at filmmaker Michael Moore on Thursday after he shared a photo of himself outside of Trump Tower in New York City with a sign reading: 'We are all Muslim.' Moore's photo was in response to Republican presidential candidate Donald Trump's proposal to ban Muslims from entering the US, which inspired the hashtag #WeAreAllMuslim on social media. The former beauty queen sent a number of tweets directed to Moore including...

Miss Puerto Rico Blasts Michael Moore for #WeAreAllMuslim, Declares Support For Trump Destiny Vélez, who was crowned Miss Puerto Rico 2015, launched into an hours long Twitter rant Thursday afternoon, blasting Islam and Michael Moore for starting the #WeAreAllMuslim social media campaign. (Twitter/@MissAmerica_pr) more > Bush On Trump: Leadership Not Attacking People (Associated Press) Washington Times By Jessica Chasmar - The Washington Times - December 17, 2015 Miss Puerto Rico launched into an hours long Twitter rant Thursday afternoon, blasting Islam and Michael Moore for starting the #WeAreAllMuslim social media campaign. Destiny Velez, who was crowned Miss Puerto Rico 2015,...