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Tuesday, November 17, 2015

Puerto Rico News Digest For November 17, 2015


CIDRE JUMPS INTO 2016 GOVERNOR'S RACE












From The San Juan Daily Star:

"Businessman Manuel Cidre announced he would run for the governor’s
post as an independent candidate, becoming the second unaffiliated gub-
ernatorial hopeful following attorney Alexandra L├║garo, who threw her
hat in the ring earlier this year. The founder of Los Cidrines Bakery, a
business he created with his brother Guillermo back in 1978, and the for-
mer president of the Puerto Rico Manufacturers Association, among oth-
er professional organizations, said he aspires to something different from
the traditional political machinery to make Puerto Rico governable again..."


PREPA EXTENDS LISA DONAHUE CONTRACT


From Caribbean Business:

"The Puerto Rico Electric Power Authority (Prepa) has extended its con-
tract with Chief Restructuring Officer Lisa Donahue and her team at Alix
Partners for another four months. Donahue and AlixPartners will be paid
nearly $7.3 million to continue their work in restructuring the utility’s debt
and transforming generation and distribution infrastructure. The contract
was set to expire Nov. 15, and will now stretch until March 15..."


MULTI-AGENCY PREPA INVESTIGATION BROADENS


From Richard Lawless:

"According to confidential sources, the multi-agency investigation into theft
at Puerto Rico’s largest utility, PREPA, has expended to include as many as
thirty-five current and former government officials. In an effort to seek redu-
ced charges, William Rodney Clark, Edwin Rodriquez and Cesar Torres Ma-
rrero have agreed to cooperate with the Puerto Rico U.S. Attorney office. This
cooperation is said to include payment journals, recorded conversations and
other materials."


IBERIA TO RESTART MADRID-PR FLIGHTS


From ATW:

"Iberia will resume flights between Madrid and San Juan, Puerto Rico on May
15, 2016, after a three-year absence on the route. The announcement was made
during the Latin American and Caribbean Air Transport Association (ALTA)
Airline Leaders Forum in San Juan..."


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