Paulson & Co buys San Juan Beach Hotel for $20M
July 24, 2015
Hedge fund investor Paulson & Co. has bought the San Juan Beach Hotel in Condado for $20 million, and plans to renovate the beachfront property that shuttered earlier this year after filing for Chapter 11 bankruptcy protection.
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DirecTV employees support Juncos children’s shelter
July 24, 2015
DirecTV Puerto Rico employees took a break from their jobs Thursday to provide dozens of children who are victims of abuse with materials and resources for the upcoming start of the new school year.
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Private sector appoints execs in insurance, hospitality
July 21, 2015
In recent weeks, the private sector has continued moving ahead with job creation, naming a handful of executives in the areas of insurance and hospitality. Following are the most recent appointees.
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P.R. to become epicenter for LatAm business Aug. 13-14
July 20, 2015
Latin America and international commerce will be the topic of the upcoming meeting of the Business Council of Latin America, slated for Aug. 13-14.
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U.S. Senators submit companion Ch.9 inclusion bill
July 16, 2015
U.S. Senators Richard Blumenthal (D-Conn.) and Charles E. Schumer (D-N.Y.) announced The Puerto Rico Chapter 9 Uniformity Act, legislation they have co-authored and introduced to address the growing fiscal crisis in Puerto Rico by granting Puerto Rico the authority to allow its municipalities and public utilities to readjust their debts under the supervision of a bankruptcy court.
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Puerto Rico trade groups ready to work with gov’t
July 15, 2015
Representatives from 20 Puerto Rican trade associations said Tuesday they are ready to work with the government to jump-start the island’s economic development, proposing specific strategies to move things along.
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CPI sues gov’t over refusal to disclose hedge fund info
July 14, 2015
The Center for Investigative Journalism filed a civil suit Monday against the government over its refusal to provide the names of the hedge funds that are getting ready to renegotiate or demand complete payment of Puerto Rico’s public debt.
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Crowley joins list of private-sector supporters of HR870
July 14, 2015
Maritime shipping company Crowley recently added its name to a long list of private-sector companies that have thrown their support behind HR 870, known as the Puerto Rico Chapter 9 Uniformity Act of 2015, which seeks to extend bankruptcy protection to the island’s public instrumentalities.
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Private sector to work with gov’t on fiscal solutions
July 13, 2015
Representatives from 20 of Puerto Rico’s largest private-sector organizations expressed their willingness to work with the government’s task force on proposals to restructure the island’s fiscal issues.
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Puerto Rico youth pursuing better salaries, promotions
July 9, 2015
A recent study by Universia shows that 39 percent of Puerto Rico’s youth and student population is looking to improve their salaries, while 23 percent are looking to get promoted.
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Hospitality, retail, banking sectors appoint executives
July 9, 2015
The private sector has been actively appointing new executives to high-ranking positions in a broad spectrum of industries. Following are several announced in recent months.
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Groups that sued gov’t over Recovery Act react to ruling
July 8, 2015
The creditors who sued the Puerto Rico government over the legality of the Debt Enforcement and Recovery Act said Tuesday the decision by the U.S. Court of Appeals to uphold a San Juan court’s determination that it was unconstitutional “protects bondholders across the United States.”
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Suzuki expands into marine parts out of Carolina site
July 8, 2015
Suzuki del Caribe is looking to reinvent itself by expanding into the distribution of marine products out of its new 30,000 square-foot warehouse at located at the Sabana Gardens Industrial Park in Carolina.
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IHOP, Pizza Hut open at Plazoleta del Cantón in Bayamón
July 8, 2015
Two restaurant chains, IHOP and Pizza Hug, have opened new locations at the Plazoleta del Cantón in Bayamón, operators announced separately on Tuesday.
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H. Calero: Migration, cash crunch to limit econ. growth
July 6, 2015
Two significant problems Puerto Rico is currently dealing with — a significant migration and a government cash crunch — will limit economic growth for at least five years, local economist firm H. Calero Consulting concluded in the most recent edition of its “Pulse” publication.
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