Puerto Rico News Digest For January 20, 2015

POLITICAL PRISONER GONZALEZ CLAUDIO BACK IN PR

Photo from: Claridad

From The San Juan Daily Star:

Political prisoner Norberto González Claudio, who was charged
in the 1983 robbery of over $7 million from a Wells Fargo truck,
the largest heist in U.S. history, arrived in Puerto Rico late
last week to the delight of hundreds of pro-independence supporters
after serving time in a Florida prison. González Claudio , 69, was
sentenced in 2012 by Senior U.S. District Judge Alfred V. Covello
in Hartford to 60 months of imprisonment, followed by three years
of supervised release, for his involvement in a 1983 armored truck
robbery in West Hartford, Conn., and for his illegal possession of
a machine gun at the time of his arrest in May 2011.

CHEAP OIL MUDDIES PREPA RECOVERY

From Reuters:

Tumbling oil prices may offer short-term relief to Puerto Rico's
struggling electric power authority PREPA, but could embolden
bondholders and muddy the utility's path to a long-term fix.
Crude's slide may give bondholders more sway in negotiating a
restructuring of the utility because a sharp drop in its fuel
costs gives them less reason to accept reduced debt repayments.
While fixing PREPA is seen as a key step in solving the troubled
island's debt problems, cheaper oil could create the perception
that the power authority may not need a broad, and expensive,
overhaul.

VENEZUELA FOOD COMPANY COMES TO PR

From News Is My Business:

Industrias Alimenticias Alto de San Juan, owned by two Venezuelan
companies, announced Monday plans to manufacture its products in
Puerto Rico.

With an initial investment of $400,000, the company has committed
to the creation of 200 jobs once the project is fully operational.
This is the fourth industrial development project announced by Gov.
Alejandro García-Padilla’s administration during the past two weeks.
The payroll associated with the new jobs reaches about $3 million
annually, Gov. García-Padilla said during the ribbon-cutting at
the plant.

DOM REP POULTRY EXPORTS TO PR SET TO EXPLODE

From Dominican Today:

The Government aims to spur poultry and egg exports to Puerto Rico
to supply of meals to students from that island, Agro Bank adminis-
trator Carlos Segura affirmed Monday.

The official said among the agreements signed by president Danilo
Medina and Puerto Rico governor Alejandro García figure taking
advantage of domestic production, once the country obtains the
required certifications. He said the country’s installed capacity
meets Puerto Rico’s market and can double poultry production,
without expanding current facilities. He said the country currently
produces 15 million chickens and 150 million eggs.