Senior reporter at DWM. Long-time business reporter in Puerto Rico (STAR, Daily Sun, CB). Covering PR's fiscal crisis before it was trendy. Opinions are my own.
Backing my theory #PuertoRico is becoming the next St. Barts. USD 4m lots at the St. Regis Bahia Beach are sold out to build USD 8m -USD 10m homes. Population is down, but bank deposits up, according to Fahad Ghaffar, partner Paulson & Co.
House Majority Leader Carmelo Rios says a bipartisan group of commonwealth lawmakers is floating a bipartisan proposal in Congress to amend the structure of the Financial Oversight and Management Board. #muniland#PuertoRico
Sen. Eduardo Bhatia says, "To restore democracy, we need to restore credibility, and PR has a huge credibility problem...We have fallen trap in PR to populist ideas that he who spends more is better."
Good morning #muniland! Campaign season is on here at #PuertoRico CofC 3rd PROMESA Conference. Sen. Eduardo Bhatia says that is if elected governor he will restore fiscal responsibility and balance the budget. Sounds familiar?
BREAKING: Arquidiócesis de San Juan pone en venta el edificio del Palacio Arzobispal y el Seminario Conciliar de San Idelfonso, en el Viejo San Juan, para crear fondo para pagar las pensiones que adeuda a los empleados retirados de los colegios católicos. https://t.co/pD8V2MfcjW
Tidbit from #caribbeanbusiness. Christian Sobrino does not expect 9bn PREPA restructuring to move forward this year because of monolines' call for a receiver. “I am going to privatize PREPA first because there is never [going to be] a receiver." #muniland https://t.co/wMgqoODPPx
According to the World Bank, six of the world's 10 best energy (electric) systems are public entities, as reported by the Center for Investigative Journalism, which poses the very valid question why then privatize the #PuertoRico Electric Power Authority? #muniland
Según el Banco Mundial 6 de los 10 mejores sistemas de energía del mundo son públicos no privados. Además, la mayoría de los gobiernos estan buscando revertir las privatizaciones en este sector. Entonces, ¿Porqué privatizar la @AEEONLINE? Aquí te contamos https://t.co/a8SECPXXq9
A showdown on the constitutionality of OB appointments may have been averted through the removal of US Federal Claims Judge Susan Braden from a case brought by Employees Retirement System bondholders. Braden says OB federal; while Judge Swain says its territorial. #muniland
Hey hey #muniland. This from PRMA President Rodrigo Masses re upcoming #PuertoRico Grid event: Puerto Rico’s draft Disaster Recovery Action Plan details the next tranche of USD 8.2bn in federal CDBG-DR funding and includes a 436m program for solar and storage incentives.
OMG #muniliand! #PuertoRico Governor Rossello just passed a HB 839 that allows private companies to advertise on certain government vehicles. Fifty percent of these proceeds will be used for the upkeep of public safety vehicles such as police patrol cars and firefighting trucks.
And then there were none. Seems like #PuertoRico is on course to become another St. Barts #muniland. Puerto Rico's population has dropped by 10.4% to 3,337,177 in July 2017, from 3,725,789 in 2010, reports the Puerto Rico Statistics Institute.
Jean Genet's Querelle to your Andre Gide! Not to be confused with Jean Girard, who told Ricky Bobby some things the French have brought to the world: "We invented democracy, existentialism...and the blowjob."