Hill Construction files for Ch.11, lists $13.5M in debt
February 1, 2013
Hill Construction Corp., a construction development pioneer that has been doing business in Puerto Rico for almost 40 years, filed for Ch. 11 bankruptcy protection earlier this week, listing more than $13.5 million in accrued debt.
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Popular’s ‘Progreso Económico’: Tourism, bright spot in economy
February 1, 2013
Puerto Rico residents are driving the island’s tourism sector, checking into island hotels and paradores (small inns) at a faster rate than outside visitors and keeping the sector afloat despite the somber economic scenario, Banco Popular’s most recent edition of the “Progreso Económico” report concluded.
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1st Kia ‘Platinum Dealer’ certified in Puerto Rico
February 1, 2013
Kia Motors Corporation recently granted the Automax dealership its “Platinum Dealer” certification, making it the first Kia Motors dealer in Puerto Rico to obtain this recognition.
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AGP urges construction sector to join job creation effort
January 31, 2013
Recognizing that the construction sector has been going through a prolonged rough patch, Gov. Alejandro García-Padilla told members of the Association of General Contractors, Puerto Rico chapter Wednesday that his administration’s plans call for their inclusion in a number of projects in the pipeline.
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BlackBerry betting on redesign to get back in game
January 31, 2013
Research in Motion, now officially known as BlackBerry, launched Wednesday two versions of its celebrated smartphones and a new operating system that, in the company’s words, has been “re-designed, re-engineered, and re-invented” to create “a new and unique mobile computing experience.”
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Treasury Dept. starts distributing ’12 tax return forms
January 31, 2013
The Puerto Rico Treasury Department announced Wednesday it has begun the task of distributing 2012 tax booklets, putting close to 80,000 of the short forms in the mail in anticipation of this year’s April 15th filing deadline.
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CRIM seeking $9M in damages from tech provider
January 30, 2013
The Municipal Revenue Collections Center is suing New York-based Infor Inc. for $9 million in damages related to the provider’s alleged inability to maintain software that the Puerto Rico government agency purchased in 2006.
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Microsoft releases Office 365 software suite
January 30, 2013
Microsoft Corp. unveiled Tuesday its new Office 365 software suite, a reinvention of the company’s flagship Office product line for consumers. Office 365 is a subscription-based service that resides in the cloud accessible from anywhere and that works across up to five devices, including Windows tablets, PCs and Macs.
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Restaurant operator IRSI adding 2 more eateries to chain
January 30, 2013
International Restaurant Services Inc. will be expanding its presence in Puerto Rico this year with the addition of two new restaurants — a Chili’s Grill & Bar in Bayamón and a P.F. Chang’s in Ponce — pushing the number of establishments in its chain to 30, company officials said Tuesday.
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NY Fed to host forum for Puerto Rico small biz owners
January 29, 2013
As part of its commitment to small businesses in the Second District, the Federal Reserve Bank of New York will cosponsor a three-part series aimed at educating and supporting the small business community in Puerto Rico.
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Sprint expands 4G LTE to 4 more towns, enhances 3G
January 28, 2013
Sprint announced today it has improved 3G service in Puerto Rico and also expanded 4G LTE service to more customers – launching its faster data network in Aguadilla, Isabela, Cabo Rojo and Mayagüez.
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Justice Dept. joins FTC’s ‘pay-for-delay’ antitrust complaint
January 28, 2013
The Puerto Rico Justice Department has joined 19 other U.S. jurisdictions in an antitrust case filed by the Federal Trade Commission aimed at fighting monopolistic practices within the pharmaceutical industry that reportedly cost consumers about $3.5 billion per year in the form of higher drug prices.
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Crowley modifies fee, sparing consumers from potential ‘domino effect’ on cost of goods
January 28, 2013
Following a series of meetings with private trade groups, customers and government officials, maritime shipping company Crowley Puerto Rico Inc. agreed to modify and push back the implementation of a new “Chassis Usage Charge” that could have potentially meant an increase in prices for consumer goods transported to the island.
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Popular Inc. reports $83.9M in 4Q net income
January 25, 2013
Popular Inc. reported net income of $83.9 million for the quarter ended Dec. 31, 2012, nearly twice the $47.2 million in net income reported for the prior quarter ended Sept. 30, 2012.
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Salus in Puerto Rico joins Mayo Clinic Care Network
January 24, 2013
Salus, an ambulatory health care medical and dental provider in the San Juan metropolitan area, has become the first member of the Mayo Clinic Care Network in Puerto Rico and the Caribbean, officials from both medical institutions announced earlier today.
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