Op-Ed: Gov. Vázquez needs to scrutinize new natural gas contracts in P.R.
August 29, 2019
Puerto Rico’s new governor, Wanda Vázquez, has been trying to distance herself from the previous Rosselló administration. For example, she recently suspended a $450,000 grid reconstruction contract that was subsequently cancelled by the Puerto Rico Electric Power Authority (PREPA). But hundreds of millions of dollars in natural gas infrastructure contracts continue to move forward unchallenged. […]
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Op-Ed: Island residents face decades of unaffordable rate hikes and fees
August 22, 2019
The Puerto Rican legislature will soon consider a debt restructuring deal for Puerto Rico’s Electric Power Authority (PREPA) that is unaffordable and risks jeopardizing the island’s economic recovery, according to a report released today by the Institute for Energy Economics and Financial Analysis (IEEFA). The report, “Puerto Rico Electric Power Authority debt restructuring: A weak […]
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Op-Ed: Banks’ ‘recklessness’ cost insurers $720M
August 21, 2019
Puerto Rico bond insurers this month filed suit against eight well-known investment banks (UBS, Citi, Goldman Sachs, J.P. Morgan Securities, Morgan Stanley, Merrill Lynch, RBC and Santander) for failing to perform proper diligence on Commonwealth bonds worth approximately $11 billion. The train of neglect ran from 2001 to 2015 and included revenue and expenditure falsification […]
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Op-Ed: SBA initiatives support veterans’ entrepreneurial success
August 9, 2019
Every day, tens of thousands of American troops risk their lives and sacrifice time with their families to protect our national security and keep us safe. Through their strength and commitment, they protect our nation, liberties, freedom and way of life. The Defense Department keeps our military members safe while serving; and once our heroes […]
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Op-Ed: Federal government fails Puerto Rico — again!
August 8, 2019
2017 was a terrible year. Some of the largest hurricanes in U.S. history, along with devastating wildfires in California and elsewhere, provided a clear indicator of the ravages we can expect from the climate crisis. Thousands of Americans lost their homes, their belongings, their livelihoods, even their lives. In response, Congress appropriated $587 million to […]
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REAL CHANGE?
August 8, 2019
Did I miss something? Did we not just experience a “revolution” to throw out the governing elite? Didn’t the citizens of Puerto Rico rise up to demand better leaders? Didn’t we say we wanted more transparency? Didn’t we stipulate we must have real accountability? Didn’t we refuse to accept corruption? Apparently not, since we seem […]
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Op-Ed: P.R. crisis — Oversight Board failed to do its job
August 7, 2019
The Puerto Rico Financial Oversight and Management Board has remained fairly quiet during the last several weeks of turmoil and massive demonstrations that have rocked Puerto Rico in protest over the corruption of the [Ricardo] Rosselló administration. On July 23rd, the Board issued a press release stating that, “The people of Puerto Rico deserve a […]
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Op-Ed: Population of Puerto Rico [Handle with care]
August 6, 2019
“I saw the future …. It’s wooooooonderful..there are no [Puerto Ricans]” this is a direct quote found in the leaked chats (#RickyLeaks) between the person who served as governor of Puerto Rico and his closest collaborators. This improper comment caught my attention due to the demography that underlies what this person claimed to have seen. […]
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Op-Ed: Tourism in times of crisis
July 25, 2019
In recent weeks, our island has experienced moments of great tension that have affected all sectors of our society. We have seen how the central government has collapsed and with it everything, including tourism. The fact that the Tourism Company remained silent and static is not surprising because the goal of this administration’s public policy […]
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Op-Ed: Oversight Board admits scandal is a problem, but then ignores it
July 22, 2019
Author Cathy Kunkel ([email protected]) is an IEEFA energy analyst. Author Tom Sanzillo ([email protected]) is IEEFA’s Director of Finance. On Friday, July 12, José Carrión, chairman of the Financial Oversight and Management Board for Puerto Rico, noted that the recent corruption and other scandals over the past couple of weeks would negatively impact the island’s economic […]
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Op-Ed: Needed — Independent inspector general, review of all contracts
July 17, 2019
The Puerto Rican government has imploded spectacularly over the last two weeks. Multiple cabinet-level officials have resigned or been fired, and former cabinet officials have been arrested in an FBI corruption probe. The scandal has led to an overwhelming call for Gov. Ricardo Rosselló to resign. Two former cabinet officials, as well as several individuals […]
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Op-Ed: Digitization, 1st step to reduce internal costs, improve customer experience
July 12, 2019
If there’s something that mobile and other portable equipment has achieved is to make life easier for everyone at multiple levels. With it you take pictures and share them instantly or access links that provide all kinds of information in nanoseconds. Now, can you do the same with your business documents? Every company or institution […]
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Op-Ed: The printer, a vulnerable point for cyber attacks
July 2, 2019
** Paid advertorial ** Companies are increasingly exposed to losses due to the increasing sophistication of cyber attacks and the emergence of internal threats. Companies face a dilemma to balance productivity with the need for privacy and security. One area of the IT ecosystem that is often overlooked is the printing infrastructure. Most organizations rely […]
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Op-Ed: The far-reaching effects if P.R. snubs precedent and the rule of law
June 28, 2019
The current Financial Oversight and Management Board for Puerto Rico is attempting to invalidate more than $6 billion of general obligation bonds and to initiate clawbacks of principal and interest payments to bondholders. It claims that the bonds were issued in excess of a Puerto Rico constitutional debt limit, notwithstanding the Commonwealth’s specific representations to […]
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Op-Ed: The myth of P.R. as mecca of engineering and surveying
June 24, 2019
Without a doubt, you have heard innumerable times that Puerto Rico is “a mecca for engineering and surveying.” We derive a lot of pride from thinking that the best firms in the world “come to Puerto Rico to recruit” engineers and surveyors. Today I want to open our eyes to an undeniable reality that contrasts […]
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