Borinquen MadeDated notes on Puerto Rico
Puerto Rico news: economy and politics
This desk gathers dated notes on the economy and politics of Puerto Rico, taken from named outlets. It is not the magazine's historical archive. Each note cites its outlet. It is not original reporting.
A dated, sourced desk. Each note names its outlet. It is not original reporting. Figures are those the source published. If sources disagree, both layers are left in place.
General Workers Union casts doubt on budget deficit
UGT questions certified $3,233 million deficit; Treasury error $97.75 million; Ferrer puts shortfall at $2,272 million.
CPI: 100 days and 1 law — the Law 7 (OPERA) stroke of the pen
Deficit cited $3,200 million; taxes/payroll/financing; refinancing on worse terms; IVU +0.75 pts to FIA.
Comptroller: PREPA paid $2.46 million in advertising without a written contract (CP-09-21)
10 Mar 2009. 345 invoices; recovery recommended. Finding ≠ conviction.
DOJ: De Castro Font pleads guilty — honest services and conspiracy
Plea: 20 wire-fraud counts + 1 extortion conspiracy; ~$500–525K solicited; USAO-PR; plea ≠ sentence.
ENDI: Parga — monopoly in the liquefied gas market
Sen. Orlando Parga: commission study; major companies set prices among themselves. THIN paywall.
Turn off the shredders
12 Nov 2008. McClintock (Fortuño transition): asks to stop shredding docs; hotline; Estado/Hacienda/DTOP/etc. Allegation ≠ charges or proven illegality.
CPI: La Fortaleza for sale — donations, CEE and lean years
Acevedo ~$413K vs $2.6 million (2004); PNP −65%; ~8,000 CEE referrals without fine; excess/anonymity.
CPI: Category 5 — the fiscal hurricane no one talks about
FY2008 shortfall $418 million; budget deficit $1,258 million; debt ~$17,700 million; Retirement −$9,956 million.
Puerto Rico does not foresee major economic problems
10 Oct 2008. Acevedo Vilá (AP/Fortaleza): U.S. −750,000 jobs vs PR −20,000; state IVU 4.5%; housing credit $25,000; BGF prudent. Federal charges = indictment ≠ conviction.
DOJ: second indictment against Acevedo Vilá — honest services and laundering
5 counts; ~$250K Collaborator 18; false invoices; follows March indictment; indictment ≠ conviction.
Governor warns about Fortuño’s proposal
Acevedo criticizes Fortuño cut >$1,000 million; warns 20,000–30,000 layoffs; proposes eliminating state IVU vs 6.6% excise.
Comptroller: AAA with erroneous billing and overestimated consumption (CP-08-29)
18 Jun 2008. 1.25 million customers; findings 1–5. Finding ≠ conviction.
Rosselló reflects on corruption
Acevedo 19 federal counts (+12); schemes ~$140K conduits + ~$182K invoices; indictment ≠ conviction.
DOJ charges Acevedo Vilá and 12 associates with campaign offenses (27 counts)
27 Mar 2008. Hacienda alleged $7 million; indictment ≠ conviction.
Task Force 2007: three status options — territory, statehood or independence
Dec 2007 report: rejects “new commonwealth” mutual consent; recommends two-stage federal plebiscite; H.R. 900 cited.
Treasury Secretary resigns
19 Dec 2007. Juan Carlos Méndez leaves Hacienda (effective Dec 31); IVU; 1% to extraconstitutional debt; credit. Claimed achievements ≠ independent audit.
DOJ: Accord Ship / M/V Sportsqueen — plea for pollution (APPS)
Fine $1.75 million; 3-year fleet ban; Sabando 5 months; San Juan Coast Guard Apr 2007; plea ≠ pending indictment.
Does not know what Hacienda did
CEE asks to withhold 25% Electoral Fund; PPD debts ~$804K / PNP ~$3.6 million / PIP $31.3K (Jan 2007); Hacienda without reply.
Medical equipment exempted from IVU
14 Jul 2007. Acevedo signs amendment to Law 117-2006: exempts IVU on medical/surgical equipment and health tech for certain patients.
GAO-07-552R: Vieques cleanup — costs and Navy DERP status
IR: $18.1M + $15.2M; munitions: $35.4M + $235.3M programmed; NPL Feb 2005; ~9,000 acres munitions; Interior/FWS refuge.