Puerto Rico News Digest For December 8, 2015

WALMART SUES GOVERNMENT OVER TAX

From The San Juan Daily Star:

"Walmart Puerto Rico has sued the government of Puerto Rico, contending
that the law that increased a component of the Alternative Minimum Tax
is unconstitutional and has raised its tax responsibilities to unsustainable le-
vels. The firm said in the lawsuit fi led in federal court that  it is a critical
contributor to the economy of Puerto Rico, noting that:  More Puerto Ricans
work for Walmart PR than for any other private employer; Walmart PR coll-
ects more sales tax on behalf of the commonwealth than any other company
or entity; every year, Walmart PR purchases $1.6 billion dollars of products
from Puerto Rican vendors and suppliers; Walmart PR supports the local co-
mmunity by providing millions of dollars of grants each year to charitable
causes in Puerto Rico; Walmart PR has been a very good corporate citizen
and a backbone of the local economy..."

CARGO FALLS OVERBOARD ENROUTE TO PR

From Caribbean Business:

"Coast Guard crews were responding Monday to reports of multiple containers
falling off a barge off the coast between Port Canaveral and West Palm Beach,
Fla., Sunday. The U.S. flagged 136-foot Capt. Latham was enroute to Puerto
Rico as it tugged a 340-foot barge, Columbia Elizabeth, when crew aboard noti-
ced several cargo containers hanging over the port side of the barge and belie-
ved more had fallen into the water while in transit. The Capt. Latham termina-
ted their course toward Puerto Rico and diverted to Port of Palm Beach for fur-
ther investigation..."

MICRON CLOSING PUERTO RICO OPERATIONS

From Computer World:

"Semiconductor maker Micron Technology is closing a manufacturing facility
in Puerto Rico and moving the work to China. Around 185 jobs are affected by
the closure, which is due to be completed by the end of this month, according
to a U.S. government filing. This is not good news for Puerto Rico, which has
an unemployment rate of more than 12% and is now struggling with a debt cri-
sis. But it may be helpful for China; it's trying to increase its semiconductor
manufacturing capability by investing in U.S. firms -- to the concern of some
U.S. lawmakers..."

PR SALARIES COULD INCREASE IN 2016

From News Is My Business:

"Puerto Rico salaries could see a slight improvement next year, breaking a two-
year cycle of flat results, according to the results of the 28th edition of the “Glo-
bal Salary Increase Survey” conducted by Aon Hewitt. The study showed that
average wage increases for 2015 were 3 percent, remaining the same as those
reported in 2014. However, by 2016 AON projects a slight increase to 3.2 per-
cent. The survey spans 120 markets worldwide, including Puerto Rico..."

Puerto Rico News Digest For May 20, 2015

COP GOES ON SUICIDAL RAMPAGE

As reported this morning by El Nuevo Dia, a 26 year old police officer

shot two fellow officers inside a house in the Santa Rosa neighborhood

of Bayamon early this morning, and then shot himself to death. According 
to police, the as of yet unidentified officer had an argument with an ex-
girlfriend, who is also a police officer in a different location. After the 
argument, the female officer went to the house that she was sharing with 
other police  officers. The man followed her to the house, where their ar-
gument escalated. The officer then shot at his ex-girlfriend and another
police officer who was present, injuring but not killing them. The shooter 
then immediately put the gun to his own head and shot himself. The inju-
red officers were taken to Centro Médico for treatment.

UPDATE: Heriberto González Padilla, one of the officers who was shot,
died this morning in hospital. The deceased shooter has been identified
as police officer José David Carrión Gómez.

GOVERNMENT TO PRESENT BUDGET TODAY

From Caribbean Business:

The administration of Gov. Alejandro García Padilla will present 

its fiscal year 2016 budget plan Wednesday. It will total $9.8 

billion and will include about $600 million in government spending 

cuts, La Fortaleza Chief of Staff Víctor Suárez said Tuesday. He 

added that Puerto Rico will seek to access the markets for tax-

revenue anticipation notes (TRANs) at the beginning of fiscal 2016, 

or July 1, to provide the commonwealth with much-needed liquidity 

to address cash flow issues during the first few months of the fis-

cal year. Suárez warned about the need to approve both the new tax 

bill and the budget plan “to provide certainty to financial markets.”

Absent TRANs funds, the chief of staff said such measures as fur-

loughing public employees would be discussed, as “the budget and 

the cash flow are two different things.”

RIVERA SCHATZ SEEKS SUPPORT FOR RUN

From The San Juan Daily Star:

Although it is not offi cial, former Senate President Thomas Rivera

Schatz is reaching out to New Progressive Party (NPP) mayors and 

already has a jingle in support of his candidacy for governor.Sources 

said Rivera Schatz, who is known as the “White Shark” for his nonon-

sense personality, already has the support of several powerful mayors 

including Guaynabo Mayor Héctor O’Neill, but that information could 

not be confirmed. The former Senate leader spent the weekend on a jeep 

caravan around parts of the island to promote his candidacy.

P&G PLANT LEAVES PR FOR N. CAROLINA

From ABC News:

Procter & Gamble Co. says it is closing a manufacturing plant in Puerto 

Rico and laying off some 230 employees. A company statement Friday 

says the plant in the southern town of Cayey will close in the next nine 

to 12 months. Officials said the company will move operations to a plant 

in North Carolina as part of an overall restructuring.

NEW OLIVE GARDEN OPENS JUNE 15TH

From News Is My Business:

A year after the arrival of Olive Garden in Puerto Rico, Restaurant 

Operators Inc. announced Monday the company will open its second 

restaurant on the island, in Guaynabo’s San Patricio Plaza sector, 

June 15th.