Puerto Rico News Digest For February 17, 2015

PIERLUISI SEEKS SUPPORT FOR STATEHOOD BILL

From The San Juan Daily Star:

Resident Commissioner Pedro Pierluisi announced Thursday that 10
members of Congress have joined him as co-authors of the bipartisan
legislation that will pave the way for Puerto Rico to become a state.
The sponsorship comes at a time when several Republicans are calling
for Puerto Rico to be placed under a federal board to manage its
financial aff airs. HR 727 calls for a status vote that will be held
a year after the approval of the bill or no later than the end of
2017. The legislationwill ask voters if they want to become a state.
According to the bill, if a majority of Puerto Ricans vote for
statehood, there will be a statehood declaration on Jan. 1, 2021.

ECONOMIST: 2015 WILL BE DECISIVE FOR PR

From News Is My Business:

The effects of the current administration’s value-added tax proposal
as part of a sweeping tax overhaul and the “liquidity time bomb” of
the Government Development Bank will make 2015 a “decisive year”
for making harsh decisions, analyst firm H. Calero Consulting pre-
dicted in the latest edition of its publication “Compass.”

In the analysis released last week, the firm offered its views of
2014, describing it as “another turbulent year for the Puerto Rican
economy.” “Businesses and households sadly miss the stable growing
years of the late 80s and 90s. This continued state of crisis
impacts house holders’ and business owners’ peace of mind. Many
households have lost confidence in Puerto Rico’s recovery and con-
sequently, they are migrating to the U.S. [mainland],” the firm
said, adding that other issues causing uncertainty, such as the
tax reform and other laws are fueling the outward shift.

FUNERAL HELD FOR MAN IN GREEN LANTERN COSTUME

From Fox News Latino:

A wake was held for a 50-year-old man who died last week in Puerto
Rico, with his family dressing him as the Green Lantern comic book
character, local media reported.

The body of Renato García, who succumbed last Monday to unspecified
health problems, was displayed on Sunday at his home in San Juan's
Rio Piedras neighborhood. According to his relatives, García made
the costume several weeks ago and since then he had been in the habit
of wearing it all the time and going out in public dressed that way,
and so the family decided to dress him like that for the funeral,
which is scheduled for Monday.

MALL OF SAN JUAN ADDS FIVE MORE STORES

From Caribbean Business:

Michigan-based Taubman Centers Inc., which owns the Mall of San
Juan luxury shopping center, revealed Monday several new entrants
to the Puerto Rico retail scene that are set to open as part of
the mall’s inauguration March 26. The stores in question are Brio
Tuscan Grille, an Italian cuisine restaurant based in Columbus,
Ohio; Burger & Beer Joint, a gourmet burger chain founded in Miami;
Hollister, a California teen-clothing store owned by Abercrombie
& Fitch Co.; Kona Grill, a Japanese-themed restaurant franchise
based in Scottsdale, Arizona; Tommy Bahama, a Seattle-based
causal clothing store, and Vans, a footwear and apparel
company.