ManattJones Global Strategies
January 26, 2009
News Briefs
January 12, 2008 - January 18, 2009
Volume VI, Issue 3

Energy | Trade & Investment | Banking, Insurance & Finance | Business & Industry | Housing & Mortgaging |
Construction & Infrastructure | Retail | Transportation | Media & Entertainment | Farming & Agriculture |
Economy | Border & Migration | Politics | Justice, Safety & Crime | Other


Energy

PEP Awards New Contracts For Works At Chicontepec
January 12, 2009
Pemex Exploracion y Produccion (PEP) has awarded new contracts to local companies for exploration works at the oil rich Chicontepec basin. The contracts’ value amount to MXN 397.9 billion and the firms awarded where Constructora e Inmobiliaria Rio Medio, Calzada Construcciones and Dragados del Sureste, Proveedores y Servicios Especializados del Sureste, Constructora y Fraccionadora Alma Cid, Sheba Constructora e Inmobiliaria, Constructora Marusa and Grupo Zirahuen.

SENER: Pemex Assesses Options To Extract Oil With The U.S.
January 12, 2009
The Energy Ministry (SENER) and Pemex said they are currently assessing two options to jointly exploit border wells with oil companies working on the U.S. side of the Gulf of Mexico in order to participate in the first U.S. oil extraction in that area next year. One of the options is the creation of a new "Pemex International" subsidiary operating on the U.S. side of the Gulf with foreign companies. Another choice would be allowing Pemex to do all the investment and works in delimitation, exploration and production of oil in the wells located on the Mexican side of the Gulf.

Pemex Sees 2010 Crude Oil Output Stable At 2.76 Million B/D
January 14, 2009
Pemex said it expects average oil production to remain relatively flat for the next two years and then start recovering in 2011. Pemex sees 2009 output at 2.75 million barrels a day (b/d), and 2010 output at 2.76 million b/d. Then output will gradually rise to 3 million b/d in 2015. In 2008, average output was at 2.8 million b/d for the first 11 months of the year. Pemex said its oil-reserve replacement rate, the difference between how much it pumps and new reserves, rose to 50% in 2008 from 41% in 2007, thanks to the company's exploration campaign.

Pemex CEO: Looking To Place Debt Immediately
January 14, 2009
Pemex announced it has arranged its financing program for 2009 and is looking to place debt in the market. Pemex CEO Jesus Reyes Heroles said, without providing further details, that Pemex’s board has authorized a basic financing program for this year. Pemex is expected to need at least USD 5 billion in 2009 to refinance debt coming due as it seeks to meet an ambitious USD 20 billion investment program. Pemex has reduced its total debt load over the past year.

Pemex To Fine Weatherford For Breach Of Contract
January 16, 2009
Pemex said it would fine global provider of drilling and production technology and services Weatherford International for breaching a USD 870 million contract that called for drilling 249 wells at the Chicontepec basin. Pemex said Weatherford breached the contract, which was awarded last summer, because it failed to drill 34 wells by the scheduled deadline. Pemex did not disclose the amount of the fine.

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Trade & Investment

President Calderon Is Open To Amending NAFTA
January 13, 2009
President Calderon expressed his willingness to cooperate with Barack Obama to alter aspects of the North American Free Trade Agreement (NAFTA). In remarks after a meeting at the White House with former U.S. counterpart George W. Bush, Calderon said that he is ready to review "issues of concern" to both countries regarding NAFTA, notably in the areas of the environment and labor protections. President Calderon later met with U.S. President-Elect Barack Obama who, according to press reports, did not mention reopening NAFTA but did stress the need to address labor and environmental protection aspects of the pact.

INEGI: October Gross Fixed Investment Rises 3%
January 12, 2009
According to figures from the National Statistics Institute (INEGI), the country’s gross fixed investment, a measure of spending on machinery, equipment and construction, rose 3% in October from the year-ago period. Investment in equipment and machinery rose 10% year-on-year in October, led by a 13% increase in imported capital goods. Construction investment fell 2.2%, however, because of declines in construction of housing, commercial buildings, and oil and gas distribution systems, among others.

U.S. Department Of Commerce: Mexico’s Exports To U.S. Fall 20% In November
January 14, 2009
According to the U.S. Department of Commerce (DOC), Mexico’s exports to the U.S. fell by 20% year-on-year last November and amounted to USD 15.4 billion. DOC said that the global economic downturn and the reduction in the U.S. demand for Mexican products led to the record drop in Mexico’s exports. DOC added that Mexico’s exports to the U.S. in 2008 amounted to USD 201.6 billion and grew at a 4% rate, whereas they grew at a 5.9% rate in 2007.

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Banking, Insurance & Finance

Banxico Governor Guillermo Ortiz Named BIS Chairman
January 12, 2009
The Bank for International Settlements (BIS) announced that its board of directors has elected Bank of Mexico (Banxico) Governor Guillermo Ortiz as its new chairman. BIS said Ortiz, whose three-year term begins March 1, will succeed Jean-Pierre Roth, who has served as chairman since March 2006. Banxico officials confirmed that Ortiz will remain at the helm of the central bank. Ortiz is scheduled to finish his second six-year term as governor at the end of this year, at which time President Calderon could nominate him for a third term or pick someone else.

Nafin, Bancomext Plan To Increase Credit By 22% In 2009
January 14, 2009
Government development banks Nacional Financiera (Nafin) and Bancomext announced plans to expand their loan portfolios by 22% this year to MXN 180 billion. Nafin expects its credit portfolio to rise to MXN 122 billion by the end of the year and export development bank Bancomext's to MXN 58 billion. In addition, Nafin is planning to sell its Naftrac exchange traded funds program and will use the money to support credit for small-and medium-sized business. Nafin is the trustee for Naftrac, which seeks to replicate the performance of the local stock market's leading IPC index.

Banxico Cuts Interest Rate To 7.75% To Boost Economy
January 16, 2009
The central bank (Banxico) cut its interest rate by 50 basis points to 7.75% in a bid to revive Mexico’s economy, which is projected to shrink this year as a U.S. recession slams exports. The rate had stayed at 8.25% since last August despite external pressures of the prices on the country. Mexico now joins Chile and Colombia on the growing list of Latin American countries that are cutting rates to fight back against feared recessions in the region.

Managed Pension Savings Reach MXN 874.77 Billion; Profits Sink 19% In 2008
January 16, 2009
Pension fund regulator Consar said that compulsory retirement savings managed by pension fund companies (Afores) rose to MXN 874.77 billion at the end of 2008 from MXN 816.44 billion in 2007. However, Consar added that the country’s pension fund industry also saw its net profit tumble 19% last year, as new regulations limiting the commissions Afores can charge and higher costs took their toll. Afores’ joint net profit fell to MXN 1.85 billion.

Carlos Slim Denies Talks To Acquire Citigroup Unit Banamex
January 16, 2009
Mexican tycoon Carlos Slim said he is not in talks to purchase U.S. bank Citigroup's Mexican subsidiary Banamex. Speculation in the local market and press reports indicated Slim was interested in acquiring the company, but spokespersons said Slim is "not even in talks" to acquire Banamex and that "the rumor is absolutely false."

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Business & Industry

INEGI: November Industrial Output Plunges 5.4% On Year
January 16, 2009
The National Statistics Institute (INEGI) said that Mexico's industrial production slumped in November, its seventh consecutive drop. INEGI said industrial production fell 5.4% from November 2007, its largest reduction in more than six years. The decline was led by manufacturing, down 6.2%, followed by a 5.1% drop in construction, and oil production, which fell 4.8%. Mining activity, excluding oil, dropped 0.8%, while output from utilities electricity, gas and water was unchanged.

Bimbo Gets U.S. Antitrust Approval To Acquire George Weston
January 12, 2009
The U.S. Federal Trade Commission (FTD) announced that Mexican baked goods company Bimbo has received U.S. antitrust approval to acquire the U.S. bread-making unit of Canada’s George Weston. The USD 2.38 billion deal, which was announced last month, will give Bimbo a larger presence in the eastern U.S. market, providing it with rights to U.S. distribution of the Boboli, Brownberry, Entenmann's, Freihofer's, Stroehmann and Thomas' brands of breads, rolls, muffins and bagels.

Perrigo Acquires Laboratorios Diba
January 12, 2009
U.S. healthcare products supplier Perrigo said that it has acquired Mexican pharmaceutical company Laboratorios Diba for approximately USD 25 million. Diba was founded in the state of Jalisco in 1976. Perrigo has plant in Ramos Arizpe, in the state of Coahuila.

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Automotive

AMIA: Auto Production Rises 4% In 2008; Could Fall By 20% In 2009
January 12, 2009
According to the Mexican Auto Industry Association (AMIA), auto production and exports rose last year from 2007 as new export markets offset falling sales to the U.S., despite softening demand toward the end of the year. AMIA said Mexico produced 2,102,801 light vehicles in 2008, up 4% from 2,022,241 units in 2007. In addition, exports were up 2.5% at the end of the year to 1,665,133 units. However, AMIA added that it estimates auto production will fall by as much as 20% this year.

Nissan On The Verge Of Becoming New Leading Car Assembler In Mexico
January 13, 2009
According to press reports, Japanese automaker Nissan could become the new leading car assembler in Mexico as it produced only 356 less cars than U.S. peer General Motors, current car-assembly leader in the country. Reports indicated that Nissan produced 212,022 cars last year compared to the 212,378 units made by GM. Both GM and Nissan ended 2008 with a 20.7% market share.

Bienes Turgon-Katcon Acquire Delphi Subsidiary For USD 17 Million
January 14, 2009
Mexican holding company Bienes Turgon, with interests in the automotive industry through its subsidiary Katcon, announced the acquisition of all of Delphi Corporation's global exhaust system business. The transaction, covered by a Master Sale and Purchase Agreement, financed with an equity increase and existing cash reserves, is expected to be closed during the first half of 2009 and is worth USD 17 million.

Chrysler To Extend One Month Long U.S. And Toluca Plants Closure
January 15, 2009
U.S. automaker Chrysler announced that it will prolong one week the originally one month-long closure of three of its plants, one of which is located in the city of Toluca, capital of the State of Mexico (Edomex). Chrysler took the measure as demand for its vehicles has been falling. The other two plants are located in Belvidere, Illinois and Sterling Heights, Michigan.

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Housing & Mortgaging

Infonavit To Repurchase Overdue Notes From Private Companies
January 11, 2009
Federal housing fund Infonavit announced that it will repurchase overdue notes it had yielded to Pendulum Associates and Sociedad Corporativa para la Resolucion de Activos y Propiedad (SCRAP). Executives from Infonavit declined to provide further details but only said that in the state of Queretaro there are 2,416 overdue notes.

Infonavit Makes 494,073 Mortgages In 2008, Plans 500,000 For 2009
January 12, 2009
Federal housing fund Infonavit said it placed 494,073 mortgages last year, just short of its goal of half a million loans. Infonavit said its lending activities totaled MXN 152.44 billion in 2008. Infonavit, which is financed by its lending operations, mandatory employer contributions on behalf of about 14.5 million salaried workers, and the sale of mortgage-backed securities, plans to make 500,000 mortgages this year.

Banorte Stops Offering 20-, 30-Year Mortgages
January 12, 2009
Mexican bank Banorte said it has stopped offering 20- and 30-year mortgages as the global financial crisis has dried up the market for the derivatives it uses to hedge the risks of long-term loans with short-term funding. Banorte has been an aggressive mortgage lender in recent years. The bank's mortgage portfolio grew nearly 30% year-on-year to MXN 43.68 billion at the end of September.

Bancomer Plans To Award 190,000 Mortgages In 2009
January 16, 2009
Bancomer, the Mexican unit of Spanish bank Banco Bilbao-Vizcaya Argentaria (BBVA), announced plans to offer 190,000 mortgages during 2009. Bancomer plans to award 70,000 housing loans itself and 20,000 through the housing fund for public sector workers Fovissste. In addition, Bancomer plans to finance 100,000 homes. Bancomer led the mortgage sector last year with an average market share of 40%.

Hipotecaria Su Casita To Place Debt For As Much As MXN 10 Billion
January 15, 2009
Mexican home finance company Hipotecaria Su Casita announced that it is in talks with authorities at the Mexican Stock Exchange (BMV) as it plans to place debt for as much as MXN 10 billion maturing between 5 and 50 years. Talks began a week after Spanish bank Caja Madrid announced it would not acquire the 60% it did not already own in Su Casita.

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Construction & Infrastructure

Punta Colonet USD 5 Billion Port Project Postponed
January 13, 2009
The Communications and Transport Ministry (SCT) announced it will likely have to extend the registration period for the USD 5 billion Punta Colonet port project, in the state of Baja California, due to "saturated" financial markets. SCT said it is trying to determine whether the 42 companies that have expressed interest in bidding on the project will be able to finance it. SCT added none of the government's other port projects are in danger of being delayed, and that combined public and private investment this year in ports is expected to reach USD 700 million.

Government Seeks To Create 350,000 Road Construction Jobs
January 12, 2009
The Communications and Transport Ministry (SCT) said it plans to create a total of 350,000 jobs in 2009, following its plans to build 8,500 kilometers of roads around the country. SCT said that it will have an "historic" budget of USD 5.18 billion, of which USD 3.7 billion will be destined exclusively for roads. SCT said that during the construction, jobs of all kinds will be created ranging from very qualified professionals to people signed up in the temporary work programs. SCT expects the private sector to pay as much as USD 1.48 billion in 2009 for concessions to operate toll roads.

Cemex Closing Plant In California, Laying Off Employees
January 9, 2009
Mexican cement maker Cemex announced that it will close its Davenport plant in California and will lay off its workers as demand for cement declines along with new home construction. Cemex said operations will cease temporarily, starting March 9. Cemex currently employs 120 at Davenport.

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Retail

ANTAD: Mexico Retailers Report 10.7% Drop In December Same-Store Sales
January 14, 2009
According to Mexico’s Retail Association (ANTAD), same-store sales at Mexican retail establishments fell 10.7% in December from a year ago, hurt by two fewer weekend days. Department-store comparable sales – excluding store openings in the past year – fell 22.2% last month from December 2007. Supermarket sales dropped 6.4% and other retailers sold 8.7% less than they did a year ago. ANTAD said overall same-store sales last year were down 1.7% from 2007, while total sales grew 5.6%.

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Telecommunications & Technology

Citi Investment Research: Triple Play Services Are Less Expensive In Mexico
January 15, 2009
According to a study by Citi Investment Research, triple play services, which include Internet, fixed telephony and pay TV services, are less expensive in Mexico than in Brazil and some European countries. The study indicated that Mexico triple play customers pay an average USD 52.70 a month while users in Brazil pay USD 75.05 and European clients pay USD 75.

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Media & Entertainment

The New York Times Gets USD 250 Million From Carlos Slim
January 19, 2009
U.S. daily The New York Times said it has approved a USD 250 million investment by Mexican telecommunications billionaire Carlos Slim Helu. The financing agreement is with Slim's companies Banco Inbursa and Inmobiliaria Carso for USD 125 million each. Press reports indicate that The Times Co. has been struggling with faltering advertising sales and faces deadlines to repay hundreds of millions of dollars in debt. The company said the cash infusion will be used to refinance existing debt, including some borrowed under a revolving credit line that matures in May.

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Farming & Agriculture

Government Rejects Imports Of Fungus-Infected U.S. Rice
January 15, 2009
Mexican sanitary inspection agency Senasica said it has rejected 29 rail cars of U.S. rice for importation after detecting a rice fungus in them. Senasica added that another 64 rail cars are being held back at the U.S.-Mexican border pending further investigations and inspection. The rejected cars held 2,276 tons of rice originating from the state of Arkansas. Meanwhile, U.S. rice industry officials and grains traders claim the fungus Tilletia barclayana (smut) has long been present in Mexico and therefore should not pose any problems to the imports, while adding that the fungus does not affect human health.

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Economy

INEGI: October Economic Activity Down 0.9% From Year Ago
January 14, 2009
According to the National Statistics Institute (INEGI), Mexico's economy contracted in October from the year-ago month, posting declines in each of its three sectors as services declined for the first time in several years. INEGI said that its global indicator of economic activity (IGAE) fell 0.9% from October 2007, but rose 0.64% from September in seasonally adjusted terms. Agricultural production dropped 4.7% from the year-ago month, services slipped 0.2%, and industrial production fell 2.7%.

PRD: Foreign Debt Increased Since PAN Administration To USD 3.5 Trillion
January 15, 2009
According to a report by Deputies from the Democratic Revolution Party (PRD) that allegedly included figures from the central bank (Banxico) and the Finance and Public and Credit Ministry (SHCP), the country’s foreign debt increased by USD 1.2 trillion in eight years and amounted to USD 3.5 trillion last September, up from USD 2.3 trillion when former President Vicente Fox – from the ruling National Action Party (PAN) – took office in 2000.

Banxico: Remittances May Decrease Further
January 13, 2009
According to a report by the central bank (Banxico), migrants are expected to send home even less money this year, forecasting a second straight year of declining remittances. Banxico estimates remittances will drop by 2.5% this year. The report also indicated that 2008 remittances dropped 2% to USD 23.5 billion, the first annual decline since it started tracking the money 13 years ago. Formal figures will be released January 28. Banxico attributes the drop to the U.S. recession.

Government: Jobs Losses Increase In 4Q, More Unemployment Seen In 2009
January 29, 2009
According to government figures, over 400,000 jobs were lost between November and December, the worst loss since 1994. In addition, Mexico's Confederation of Industrial Chambers (Concamin) said that 2009 will be the worst year in the past two decades in terms of unemployment and that only 75,000 jobs will be created this year. Meanwhile, Mexico ranked first in the November unemployment growth ranking among the 30 members of the Organization for Economic Cooperation and Development (OECD). OECD said Mexico’s unemployment rate grew 0.8% to 4.8% in November.

Banxico Auctions USD 400 Million To Contain Peso Depreciation
January 14, 2009
Banxico auctioned USD 400 million in an attempt to stem the depreciation of the Mexican peso (MXN). It has auctioned off a total of USD 666 million in the first two weeks of 2009 to boost the sagging peso. The most recent auction made by Banxico was on January 8, with an amount of MXN 266 million. It has adopted the strategy to auction currencies taken from the international reserves since October 8, 2008, when the peso weakened below MXN 14 to the dollar.

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Border & Migration

Approximately 100,000 Mexican Children Deported From U.S. In 2008
January 18, 2009
According to the Institutional Revolutionary Party’s (PRI) Migration Commission, nearly 100,000 Mexican children were deported from the U.S. in 2008. PRI said the children came back to Mexico without any legal or physical protection. The report indicated that in many cases, the deported were captured by human traffickers and illegally reentered into the U.S. Lawmakers said the most worrisome situation is the lack of effective and safe repatriation programs.

Migrant Dies, 15 Others Found In Abandoned Trailer In Mexico
January 13, 2009
Police in the state of Chiapas said it found the body of a young man and rescued 15 other Central American migrants on the verge of suffocating inside an abandoned trailer. El Salvador's Consul in Chiapas, Nelson Miguel Cuellar, said that six Salvadorans, including a woman, were inside the trailer along with 10 people from other Central American States; they were all suffering from dehydration and asphyxia.

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Politics

Presidents Calderon, Obama Meet In Washington
January 12, 2009
U.S. President-Elect Barack Obama pledged during a meeting with President Calderon in Washington to begin working immediately to strengthen the U.S.-Mexico relationship. He characterized the existing friendship between the two border nations as strong, but said he believes it can be made stronger. The dialogue included security, economy, North American competitiveness and environment. President Calderon also urged action to improve the U.S. image abroad. Calderon suggested President-Elect Obama take steps to stem a “worrisome” rise in anti-U.S. feeling in Latin America.

Bush Holds Final Meeting As U.S. President, Meets President Calderon
January 13, 2009
While still President of the U.S., George W. Bush met with Mexican counterpart Felipe Calderon, pledging continued bilateral cooperation on border security and anti-drug trafficking. Bush said, while holding his last formal meeting with a sitting head of state, that "the less drugs we use, the less pressure there'll be in Mexico. We have got responsibilities to help prevent guns from going from the U.S. into Mexico." Calderon also vowed to continue "fighting criminals and to overcoming them once and for all."

IFE Tries To Prevent Drug Money From Entering Campaigns
January 15, 2009
The Federal Electoral Institute (IFE) said it will tighten accounting oversight of campaign donations and step up audits of political candidates and fundraisers in order to prevent drug money from entering politics. IFE said audits will be done during the campaigns rather than waiting until the elections are over. IFE added that anonymous campaign gifts will no longer be allowed and the maximum cash donation will be MXN 10,000. Anything larger must be given by check so the money can be traced.

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Justice, Safety & Crime

President-Elect Obama And President Calderon Discuss Mexican Drug War
January 12, 2009
U.S. President-Elect Barack Obama and President Calderon held a meeting last week and they discussed, among other topics, Mexico’s drug war. Both leaders pledged to help each other face the mutual drug problem and vowed to strengthen cooperation. Meanwhile, U.S. President Bush, while still on duty, said during his final White House meeting with Calderon that the U.S. has a responsibility to help prevent guns from moving south across the border.

Outgoing CIA Director Michael Hayden Warns Of Surging Violence In Mexico
January 16, 2009
Outgoing CIA Director Michael Hayden said that the most pressing issues facing his successor include Iran's pursuit of a nuclear weapon and surging violence in Mexico. Hayden sounded a new alarm about spiking drug violence in Mexico, and indicated that U.S. intelligence officials have made new efforts to form counter-narcotics partnerships with the Mexican government. In addition, according to a report by the U.S. Joint Forces Command on worldwide security threats, Mexico is one of two countries that "bear consideration for a rapid and sudden collapse."

U.S. Anti-Drug Information Leaked To Mexico Cartels
January 15, 2009
According to a senior U.S. law enforcement agent, corrupt officials inside Mexico's security forces have leaked U.S. anti-drugs intelligence directly to drug traffickers to help them escape raids. A recent anti-corruption sweep showed the infiltration of Mexican police forces had reached alarming levels, with several high-ranking investigators and a presidential guardsman arrested for selling information to drug cartels. The U.S. agent said the arrests were an encouraging sign that Mexico is serious about stopping drug gangs from getting their hands on intelligence.

Bush: Drugs Not Just Mexico's Problem
January 13, 2009
U.S. President George Bush, in his last Washington meeting with President Calderon, urged U.S. residents to help Mexico by curbing illegal drug use. Bush said “the less drugs we use, the less pressure there'll be in Mexico” and added “we have got responsibilities to help prevent guns from going from the U.S. into Mexico. In addition, a report by U.S. General Barry McCaffrey, who served as drug czar under President Bill Clinton, warned that Mexico is on the verge of becoming a narco-state, although he defended Calderon’s attack on the drug cartels.

U.S. Antidrug Plans Fail In Mexico And Latin America
January 15, 2009
According to a report by the White House Office of Management and Budget, the U.S. programs destined to fight Mexican and Colombian drug cartels have not yielded the desired results since the year 2000 and are far from meeting the set goals in the short term. The report said that only one-third of the targets for Mexico and other Latin American countries in drug trafficking has been met, while the rest is unconcluded or has had unsatisfactory results.

Mexico, Panama, Colombia, Guatemala Renew Antidrugs Cooperation
January 17, 2009
Mexico, Panama, Colombia and Guatemala have agreed to establish a new stage of international cooperation in the fight against drug trafficking and invited the other countries of the Latin American region to join them. The Presidents of the mentioned countries said they were committed to drawing up and signing "a single legal instrument" in the coming months open to other countries in the region. The instrument would serve to strengthen cooperation among the various nations that sign it in their fight against drug trafficking and all its ramifications.

Former Interpol Mexico Top Officials To Face Trial For Ties With Drug Cartels
January 16, 2009
The Attorney General's Office (PGR) has ordered two ex-heads of Interpol Mexico to be transferred to prison to await trial for alleged ties to the Sinaloa drug cartel. PGR said that Rodolfo de la Guardia Garcia and Ricardo Gutierrez Vargas, who had been held under house arrest since October and November, respectively, were brought before a court in the state of Nayarit and later jailed at a medium-security prison.

PGR: 21 Tijuana Cops To Go On Trial For Alleged Links With Drug Trafficking
January 18, 2009
The Attorney General's Office (PGR) said that a group of 21 policemen from the city of Tijuana were thrown in jail to await trial for their alleged links to the drug trafficking cartel headed by the Arellano Felix brothers. Of the 21, 19 are municipal policemen. Tijuana is one of the cities most affected by the wave of violence perpetrated by organized crime, and it is where the Arellano Felix cartel operates.

Vatican Suggests Excommunicating Mexican Drug Traffickers
January 13, 2009
The Vatican has suggested excommunication as a possible punishment for drug traffickers whose war with the government has led to the deaths of thousands of people in the last years. Nevertheless, the Vatican's number two official, Cardinal Tarcisio Bertone, acknowledged the Roman Catholic Church's severest form of rebuke would probably have little effect on traffickers and killers who, according to him, lack a religious conscience.

Ciudad Juarez’s Vigilantes Vow To Kill One Criminal A Day
January 16, 2009
A group calling itself the Juarez Citizens Command is threatening to strike back against lawlessness that has gripped the city for more than a year by killing one criminal a day until order is restored. The announcement by the shadowy organization is the first known act of organized vigilantism in Ciudad Juarez. The city's police and the Mexican Army have been unable to stop a plague of killings, extortion, carjackings and other crimes. The legitimacy of the previously unknown organization remains in question.

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Arts & Culture

Olmec Giant Heads In Mexico Damaged By Ritual
January 13, 2009
Authorities announced that a group performing an alleged pre-Hispanic ritual poured grape juice, oil and other liquids over four Olmec "colossal head" stone sculptures, badly damaging some of Mexico's most prized archaeological relics. The National Institute of Anthropology and History (INAH) said experts will try to remove the stains from the porous stone using special solvents but warn the treatments could be time-consuming and costly. A U.S. woman was arrested along with two Mexican men for causing the damage.

INAH Suggests Lower-Impact Lighting At Pyramids
January 14, 2009
Authorities said they have changed a controversial lighting project at the pre-Hispanic Teotihuacan pyramids to reduce its impact on the nearly 2,000-year-old structures. The National Institute of Anthropology and History (INAH) said lighting boxes will no longer be screwed into the stone that covers the pyramids, and will instead rest atop the structures. The boxes will be painted to resemble stone to lessen their visual impact.

Authorities Announce Plan To Save Traditional Cantinas
January 12, 2009
A year after the closure of El Nivel, Mexico's oldest cantina founded in 1855, authorities have planned tourist visits with a view to revitalizing other cantinas and keeping them from closing down. Among the regulars at El Nivel were 30 Mexican presidents, artist Diego Rivera and revolutionaries Fidel Castro and Ernesto “Che” Guevara. All over Mexico it is estimated that some 1,250 cantinas remain out of the 3,000 in business at the start of the last century, and that in the historical center only 65 survive out of almost 200 at the beginning of the 1990s.

Mexican-Born Actor Ricardo Montalban Dies At 88
January 14, 2009
Ricardo Montalban, the Mexican-born actor who became a star in MGM musicals and later as the wish-fulfilling Mr. Roarke in TV's "Fantasy Island," passed away at 88 at his home. Montalban's death was first announced at a city council meeting by president Eric Garcetti, who represents the district where the actor lived. His son-in-law, Gilbert Smith said he died "from complications of advancing age."

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Other

President Calderon Inaugurates World Meeting Of Families
January 15, 2009
President Calderon inaugurated the Sixth World Meeting of Families, which was scheduled to last 5 days. The theme of the meeting was “The family, teacher of human and Christian values.” The event was attended by cardinals, bishops and delegations of families from all continents. Pope Benedict XVI participated via two video messages.

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*If you would like a full version of any of the articles included in this issue, please contact us so we can furnish you with the original. Please feel free to contact us at your convenience if you need further information or advice on a topic of your interest.

 

Sources

Associated Press, Calibre Macroworld, Canada Newswire, The Canadian Press, The Chicago Tribune, Companies’ Press Releases, Compranet, Diario Oficial de la Federación, Dow Jones Newswires, El Economista, EFE, Excelsior, Federal Information & News Dispatch, El Financiero, The Houston Chronicle, La Jornada, Los Angeles Times, McClatchy, Milenio, M2 Communications, The New York Times, Notimex, El Nuevo Herald, PRNewswire, Reforma, Reuters, El Semanario, Spero News, Stock Exchange Announcements, United Press International, El Universal, The Wall Street Journal, The Washington Post, Xinhua News Agency.

Contacts

Editor
Rene Herrera

rherrera@manattjones.com
+52-55-5281-8297

Mexico City
Juan Casillas
jcasillas@manattjones.com
+52-55-5281-8297

John Bruton
jbruton@manattjones.com
+5255-5281-8297

Washington, D.C
Jessica Blystone
jblystone-mj@manatt.com
+1-202-585-6527

PLEASE NOTE: This newsletter summarizes recent developments and articles from other publications. It is not meant to express any opinion or advice, legal, consultative or otherwise. COPYRIGHT 2009 by ManattJones Global Strategies, LLC. All rights reserved. ManattJones Global Strategies, LLC, 11355 West Olympic Boulevard, Suite 100, Los Angeles, CA 90064. Phone: (310) 231.5660 Fax: (310) 312.4224; Web site: http://www.manattjones.com.

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