Oversight Board pursues 230+ gov’t vendors to recover $4.2B in conflictive payments
May 1, 2019
The Financial Oversight and Management Board for Puerto Rico filed more than 230 complaints against individuals and entities to recover some $4.2 billion in payments by the Commonwealth of Puerto Rico that were in conflict with the U.S. Bankruptcy Code and Puerto Rico law. The complaints allow the Oversight Board to ensure that the payments […]
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Op-Ed: In P.R.’s federal funds stalemate, both sides have share of responsibility
March 6, 2019
With the ubiquitous discussion as to the fate of the colossal federal funding currently being disbursed by the Federal Emergency Management Agency and the $8 billion-plus CDBG-DR funds by U.S. Housing and Urban Development, the court of public opinion has already placed warnings on the recipient, the government of Puerto Rico. But in all fairness, […]
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Op-Ed: P.R’s per capita debt load is ‘far lower’ than that of mainland states
January 17, 2019
Recent discussions of Puerto Rico’s debt levels by both Puerto Rico officials and the Financial Oversight and Management Board for Puerto Rico represent that the island’s per capita debt levels are far higher than the average per capita levels of mainland states in the U.S. mainland. However, that analysis compares only state-level debt and ignores […]
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A year-end review of the Top 10 posts published in News is my Business in ’18
December 31, 2018
This year was very active and brought significant changes and growth for News is my Business.
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Gov’t closes sale of Comunidad Río Bayamón complex for $12M — half of asking price
November 20, 2018
The property was listed for $25 million, but was sold for less than half of that, at $12 million.
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14 companies picked to participate in ‘Pymes Innovadoras’ program
November 16, 2018
Participating entrepreneurs will receive up to $100,000 in incentives to help them set off business growth plans, as well as market and export their innovative products based on science and technology.
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P.R. under consideration for inclusion in U.S. Bureau of Economic Analysis
November 6, 2018
This effort complements the implementation of Department of Economic Development and Commerce Reorganization Act.
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Newly created company identified as buyer of former Sagrado parking lot
November 2, 2018
Santurce Ambulatory Surgical Center Holding, LLC has its office in Old San Juan, according to Puerto Rico State Department records.
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Oversight Board certifies Commonwealth, UPR fiscal plans
October 24, 2018
The New Fiscal Plan for the Commonwealth of Puerto Rico has been updated to reflect more reliable revenue and expenditure data for Fiscal 2018.
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Banco Popular adds 40K new clients in the year since Hurricane María hit
October 4, 2018
Banco Popular added 40,000 new clients, as other financial institutions opted to close branches after Hurricane María tore through the island last year.
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Rosselló signs executive orders to achieve savings, reorganize several agencies
October 3, 2018
Puerto Rico Gov. Ricardo Rosselló a pair of executive orders to achieve efficiencies in the Insurance Commissioners’ Office and the Office of the Commissioner of Financial Institutions, as well as other offices related to the agricultural industry.
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FEMA awards P.R. some $56M in federal grants
September 28, 2018
The Federal Emergency Management Agency confirmed it has awarded Puerto Rico nearly $56 million in grants to cover Hurricane María-related expenses.
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P.R. gov’t fetches $11.6M for former ‘Sears property’ in Hato Rey; 13 other assets on the block
September 3, 2018
The government of Puerto Rico has sold a commercial lot, known as the “former Sears property” in Hato Rey — held in the defunct Government Development Bank’s portfolio — for $11.6 million.
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Proposed tax incentives add ‘layer of complexity’ to P.R.’s difficulties
August 7, 2018
The government’s attempt to overhaul Puerto Rico’s tax code into an easy-to-monitor regime “adds yet another layer of complexity” to the island’s already complicated situation.
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P.R. gov’t reaches preliminary restructuring support agreement with PREPA bondholders
July 31, 2018
The Financial Oversight and Management Board for Puerto Rico, the Puerto Rico Electric Power Authority, and the Fiscal Agency and Financial Advisory Authority have reached an agreement with the Ad Hoc Group of PREPA bondholders.
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