ManattJones Global Strategies
April 27, 2009
News Briefs
April 13 - April 19, 2009
Volume VI, Issue 16

Energy | Mining | Trade & Investment | Banking, Insurance & Finance | Business & Industry | Automotive |
Construction & Infrastructure | Retail | Transportation | Telecommunications & Technology |
Hospitality & Tourism | Economy | Border & Migration | Politics | Legal | Justice, Safety & Crime | Arts & Culture | Other


Energy

Pemex Elects Tula To Host New Refinery; Salamanca Refinery To Be Enhanced
April 14, 2009
Pemex elected the municipality of Tula, in the state of Hidalgo, to host the new refinery it plans to build as part of the National Refining System (SNR). In addition, the refinery located in Salamanca, in the state of Guanajuato, will be enhanced. Pemex said the Tula refinery, which is expected to start operating in 2015, will have a 300,000 barrels per day (b/d) capacity. The firm noted that joint investment for both projects will amount to USD 12.1 billion. However, Pemex stressed that the government of Hidalgo must secure the necessary land for the construction of the refinery within 100 days in order to allow the process to be completed. Pemex rejected 10 other proposals from other locations and said the Tula/Salamanca project was chosen for logistic considerations and because it would allow the company to incorporate petroleum by-products already being produced at those locations, generating an extra USD 1 billion in profits.

ASF: Pemex Should Explain Subsidiaries' Operational Behavior Abroad
April 13, 2009
The Federation's Superior Audit (ASF) office advised Congress to analyze the fiscal regimes under which approximately 45 Pemex subsidiaries operate abroad. ASF said that the companies operate under foreign fiscal regimes and that they are not placed under Mexico's control, transparency, monitoring and tax schemes. ASF said it found Pemex is a stockholder in 41 companies of which 19 are national and 22 are foreign firms. ASF added that Pemex has either a direct or an indirect participation above or equal to 50% in 34 of the mentioned companies, which are also referred to as "non-state-run" subsidiaries.

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Mining

GMex Offers USD 1.3 Billion For Asarco; Appeals Ruling On Fraudulent Transfer
April 13, 2009
Mexican mining company Grupo Mexico (GMex) offered USD 1.3 billion in cash to take its Asarco L.L.C. unit out of bankruptcy proceedings as it looks forward to defeating a rival bid from London–based metals and mining major Vedanta Resources. GMex said its plan to regain control of the Arizona mining company is backed by a major Asarco creditor group. Asarco has agreed to sell its assets to Vedanta for USD 1.1 billion in cash, plus a USD 600 million note. Meanwhile, a separate U.S. district court ruled on April 1 that GMex had committed a fraudulent transfer and ordered it to return as much as USD 6 billion of stock and dividends to Asarco, but GMex appealed the decision.

GMex Obtains Governmental Approval To Fire Striking Cananea Miners
April 15, 2009
A federal labor arbitration board allowed miner Grupo Mexico (GMex) to dismiss workers who have been on strike at the Cananea copper mine, in the state of Sonora, since July 2007, prompting angry workers to surround the mine in protest. GMex declared "force majeure" and argued it could no longer operate the massive Cananea deposit because machinery left idle for months had been looted and was damaged beyond repair. Workers at Cananea laid down tools in a dispute that began over health and safety standards but has since been complicated by a personal feud between the company and the national mining–metalworkers union's (STMMSRM) leader Napoleon Gomez Urrutia. The labor board ordered GMex to compensate the 1,500 striking workers with three months' pay plus 12 days of salary for each year worked at the mine. Meanwhile, a blockade by some 1,000 workers in support of the Cananea workers shuttered the Lazaro Cardenas port, in the state of Michoacan. GMex said losses from the strike amount to USD 1.6 billion.

Miners From Industrias Peñoles Accept Pay Raise, End Strike
April 15, 2009
Miners from the national mining-metalworkers union (STMMSRM) and employed by Mexican conglomerate Industrias Peñoles have accepted an 8% pay raise and ended a two–month–long strike at the firm's lead and silver refining facility in Torreon, in the state of Coahuila. The plant will resume operations shortly.

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Trade & Investment

INEGI: January Gross Fixed Investment Falls 8.5%
April 14, 2009
According to the National Statistics Institute (INEGI), Mexico's gross fixed investment fell 8.5% in January from the year–ago period. INEGI's data indicated that investment in equipment and machinery sank 9.9% when compared with January 2008. Meanwhile, investment in the construction sector slid 7.5%. INEGI reported an 11.1% plunge in industrial production in January and a 9.5% drop in its economic activity indicator, which includes most of the gross domestic product. In all of 2008, fixed investment rose 4.9%.

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Banking, Insurance & Finance

Banxico Cuts Rate By 75 BPS To 6%
April 17, 2009
The central bank (Banxico) slashed its key interest rate by 75 basis points (BPS) to 6%, citing a major slowdown in the economy. Banxico said Mexico's economy is suffering from the combination of a sharp drop in aggregate demand in the U.S., its largest trading partner, and a contraction in global trade. Several banks surveyed by analysts expect Banxico will continue its monetary easing with a 50 BPS cut in the overnight rate in May.

CNBV: Mexican Banks Face Tough Year For Profits In 2009
April 14, 2009
According to the National Banking and Securities Commission (CNBV), Mexico's banking industry will likely see its bottom line put to the test again during 2009 following a 32% drop in earnings last year as rising levels of bad consumer loans weigh on profitability. CNBV said the sector's net profit slid to MXN 53.75 billion last year, down from a record MXN 79.22 billion in 2007 as rising loan–loss provisions more than offset onetime gains at a number of banks from the sale of shares in credit-card processing firm Visa.

Consar: Unemployed Withdraw MXN 858 Million From Pension Fund Managers
April 17, 2009
Pension fund regulator Consar said that approximately 220,000 unemployed people have jointly withdrawn as much as MXN 858 million from their retirement accounts managed by pension fund administrators (afores). Consar said it registered 220,000 withdrawals for about MXN 3,900 each during 1Q, a twofold increase when compared to 2008 figures. Consar said that nearly 500,000 people have withdrawn money from their afores in the past two years due to unemployment. However, Consar said it is the first time the Pension Savings System (SAR) registered over MXN 1 trillion in funds.

Consar: Argos And Inbursa Afore's Yields Are Sector's Highest
April 14, 2009
According to pension fund regulator Consar, pension fund administrators Argos afore's and Inbursa afore's yields as of March 31 were the highest when compared with competitors' figures. Consar said Argos' return was 6.14% and Inbursa's was 5.28%. Consar added that it was less profitable to place pension funds in afores such as Bancomer, Invercap and Ahorra, which offered the industry's lowest yields at 2.95%, 0.82% and 0.67%, respectively.

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Business & Industry

INEGI: February Industrial Production Tumbles 13.2%
April 17, 2009
According to the National Statistics Institute (INEGI), Mexican industrial production posted its second straight month of double–digit declines in February. INEGI said that industrial production sank 13.2% from February 2008, but was up 0.39% from January in seasonally adjusted terms. Industrial activity fell in all areas, with manufacturing leading the way with a 16.1% plunge from the year–ago month, while mining slid 6.6%, oil and gas production fell 7% and construction was down 11.3%. Utilities — electricity, gas and water — fell 6.5%.

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Automotive

AMIA: Mexico March Auto Production Falls 32% To 102,720 Cars
April 14, 2009
The Mexican Auto Industry Association (AMIA) said auto production, exports and new car sales fell sharply in March, although the declines were less drastic than those registered in the first two months of the year. AMIA said that production fell 32% to 102,720 units, compared with year–on–year declines of 51% in January and 38% in February. Exports last month were down 21% from March 2008 at 101,831 units, a marked improvement over the 57% drop in January and 45% drop in February. The decline in domestic new car sales also eased, with sales falling 20% in March to 64,242 units, after sliding 29% in February and 28% in January.

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Construction & Infrastructure

Peruvian Government Dismisses Lawsuit Against Cemex
April 13, 2009
Peruvian authorities have dismissed a lawsuit filed by Peruvian cement maker Cementos Lima against Mexican peer Cemex for alleged dumping practices that were negatively affecting the Peruvian firm. Peru's National Institute for Competition and the Protection of Intellectual Property (Indecopi) found no negative impact on Cementos Lima deriving from Cemex Dominicana's exports to Peru. Indecopi also found that Cementos Lima's latest figures indicated an improvement in the firm's results.

Cemex To Issue New Shares For Dividend Payment
April 16, 2009
Mexican cement maker Cemex said it plans to issue up to 1 billion new shares that analysts believe will finance a dividend payment of around MXN 0.30 per share. Cemex has asked the National Banking and Securities Commission (CNBV) for permission to issue the shares in a document posted on the commission's website. Under the plan, Cemex would give out a new CPO share for every 25 shares held.

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Retail

ANTAD: Same–Store Sales Fall 8.8% In March
April 14, 2009
According to the National Retail Association (ANTAD), same–store sales fell 8.8% in real terms in March when compared to the like–2008 period, as a negative calendar effect from the Holy Week vacation impacted the industry. In addition, increased competition in the sector as well as declining consumer confidence deriving from the current global economic downturn affected ANTAD's members severely in March, making it the second–worst performing period in the past 13 months.

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Transportation

President Obama Hopeful About Resolving Mexico–U.S. Trucking Dispute
April 17, 2009
U.S. President Barack Obama said he is hopeful the U.S. and Mexico can resolve the trade dispute that arose last month when the U.S. canceled a cross–border trucking program between the two countries. Obama noted that the provision canceling the trucking program, which was added to the U.S. economic stimulus package by Congress, was not an initiative of his administration. However, Mexico set retaliatory import tariffs on 89 U.S. products, with a trade value of USD 2.4 billion. Obama has since expressed a willingness to set up a new program for cross–border trucking, which is stipulated under the North American Free Trade Agreement (NAFTA).

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Telecommunications & Technology

National Mobile Telephone Users Registry Enters Into Force
April 13, 2009
The National Mobile Telephone Users Registry, which resulted from amendments to the telecommunications law and which will require mobile phone companies to keep a database of their clients' personal information, has entered into force. Mobile phone companies will have up to one year to collect the necessary data from individuals and businesses that purchased phones before the rules went into effect. Companies will be required to disconnect those phones whose users have not been registered within that time frame. Authorities and companies are preparing informational campaigns for the public.

Court Suspends Telcel's Obligations Under Cofetel's Interconnection Plan
April 17, 2009
The Federal Telecommunications Commission (Cofetel) said that Mexican mobile telephony operator America Movil's Telcel subsidiary will not have to operate according to a recently published Fundamental Technical Interconnection and Interoperability Plan (Plantefin or PTFII) and share its infrastructure with competitors, as a court suspended that obligation for Telcel in a move that would annul the PTFII for other firms. Cofetel published the modified interconnection rules in February of this year. Meanwhile, Telcel had filed a complaint against the Communications and Transport Ministry (SCT) saying that the latter violated a suspension Telcel was awarded in 2008 compelling it to lower its interconnection tariffs, but a court said SCT did not violate the suspension.

Slim Eyes Barbados Peer Columbus Communications
April 13, 2009
According to sources in the telecommunications sector and top executives from Barbados–based telco Columbus Communications, Mexican tycoon Carlos Slim is close to sealing a deal by means of which he would acquire a stake in the Caribbean company. Experts have estimated Columbus Communications' value to be between USD 130 million and USD 230 million. Columbus Communications operates in 15 countries and has a submarine fiber–optic network of over 10,000 km.

CANITEC: Telmex, Telcel Ignore Ruling To Consolidate ASL Areas
April 14, 2009
The National Cable Television Industry Chamber (CANITEC) said that Telmex and Telcel, both owned by billionaire Carlos Slim, failed to consolidate the Local Service Areas (ASL) program, which includes 70 areas and which was reactivated on April 4. The program seeks to eliminate long distance calls between neighboring areas by changing prefixes and area codes of dialing numbers. Telmex has opposed the program, as such operations represent an important part of its earnings.

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Hospitality & Tourism

SECTUR: Tourism Rises Despite Drug War
April 15, 2009
The Tourism Ministry (SECTUR) said that the number of tourists visiting Mexico has jumped in 2009 despite the global economic crisis and the ongoing drug war. SECTUR said about 4 million people visited Mexico in January and February, up 13% over the same period last year. The rise in visits came despite travel warnings by the U.S. and Canadian governments, as some areas of Mexico have seen a surge in violence due to the drug wars. Visitors to Mexico spent USD 2.384 billion in January and February, down 7.5% over the like–2008 period, partly due to steep losses in the peso (MXN) in recent months, making products and services cheaper for tourists and other visitors.

RE/MAX Study: Tourist Zones Safer In Mexico Than In U.S., Canada
April 16, 2009
A research study by Mexican real estate agency RE/MAX Investment Properties comparing homicide rates in the U.S., Canada and Mexico indicated that Mexican tourist zones are up to 26 times safer than those in the U.S. and many tourists are probably more secure on vacation in Mexico than when on vacation or living in their hometowns in the U.S. and Canada. The study looks at homicide rates for the first 3 months of 2009 in 15 Mexican states and compares them with the average 3–month homicide rates for 18 cities in the U.S. and 9 cities in Canada in 2007 and 2008.

Lower House Passes Law To Foster Tourism
April 15, 2009
The Lower House passed a new law designed to further develop the country's tourism, allowing the Tourism Ministry (SECTUR) to tighten supervision on hotels, and removing paperwork needed to get projects under way. Figures from the Lower House's Tourism Commission indicated that tourism, which contributes 8% of Mexico's GDP, is the country's third–largest generator of foreign exchange after oil exports and remittances.

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Economy

IMF Approves USD 47 Billion Credit Line To Mexico
April 17, 2009
The International Monetary Fund (IMF) gave final approval for a USD 47 billion line of credit for Mexico, the first country to qualify for the new IMF lending instrument for strong–performing emerging economies. The "no–strings– attached" credit line is designed as a guarantee for well–run emerging market economies, which may encounter problems because of the global recession and financial crisis.

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Border & Migration

Pew Hispanic Center: Mexicans Total 32% Of Immigrants
April 17, 2009
According to a study released by the nonpartisan group Pew Hispanic Center, a record 12.7 million Mexican immigrants lived in the U.S. in 2008, seventeen times more than in 1970, and Mexicans now account for 32% of all immigrants living in the U.S. The study also indicated that about 11% of those born in Mexico are currently living in the U.S. The study showed that the majority of Mexican citizens in the U.S. (55%) are there illegally, and that Mexicans comprise a majority (59%) of the estimated 12 million illegal immigrants now within U.S. borders.

SSPF: Police Detain 38 Undocumented Central Americans
April 13, 2009
The Federal Public Security Ministry (SSPF) said that federal agents detained 38 undocumented Central Americans in Celaya, in the state of Guanajuato. SSPF said that 19 of them were Honduran, 12 Salvadorian and 7 Guatemalan. The detainees include 36 men and 2 women, who were taken to the offices of the National Migration Institute (INM) in the city of Queretaro, in the state of the same name. According to the INM, some 300,000 Central Americans cross Mexican territory each year to reach the U.S.

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Politics

Obama Makes First Official Visit To Mexico
April 16, 2009
During his first official visit to Mexico, which lasted less than 24 hours, U.S. President Obama discussed security, immigration and a cross–border trucking program with counterpart Calderon. President Obama is the sixth U.S. president to officially visit Mexico City and the first to do so since President Bill Clinton. More than 3,000 city police guarded the wealthy Polanco neighborhood, where Obama stayed, backed by more federal police and presidential guards.

Rising Poverty Weakens PAN Conservatives Ahead Of Congressional Elections
April 15, 2009
Increased poverty in Mexico resulting from the U.S. recession is hurting the economy, setting up President Calderon's National Action Party (PAN) for possible defeat in July's congressional elections. The economy, which shrank over 9% in January from a year earlier, is leading voters to drop their support of PAN. If current poll trends hold, the centrist Institutional Revolutionary Party (PRI) which has trumpeted policies such as a ban on private investment in state–run oil refining, could become the largest block in the lower house of Congress in the July 5 midterm election. Leftist parties, formerly unified under ex-presidential candidate Andres Manuel Lopez Obrador, could also lose many of their congressional seats, polls show.

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Legal

U.S. Lawsuits Against Mexicans To Be Served Through Mexico Court
April 16, 2009
A federal judge in Los Angeles, California, has ruled in a case involving U.S. music publisher OGM, Mexican broadcaster Grupo Televisa, U.S. Spanish–language TV network Univision and related entities, that U.S. lawsuits against Mexicans must be served through Mexico's designated central authority. Mexico has designated the Directorate General of Legal Affairs of its Foreign Affairs Ministry (SRE) as its central authority to receive and forward requests for service of lawsuits from other Hague Convention countries. The decision could have a large impact on litigation in which U.S. plaintiffs sue Mexican entities. Also, the commonly accepted practice of serving lawsuits in Mexico by mail or by official process server is improper and was condoned only by a decade–old translation error in Mexico's Hague Convention declarations.

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Justice, Safety & Crime

Obama, Calderon Meet; Pledge Drug War Cooperation And Announce Efforts
April 17, 2009
U.S. President Barack Obama and President Calderon said during a joint conference in Mexico that cooperation is essential to fight the violent drug war along the border. Obama said the U.S. is to blame for much of Mexico's drug violence, and he set up a major congressional gun–control battle by calling on the U.S. Senate to ratify a decade–old hemisphere–wide treaty that would require nations to mark all weapons produced in the country and track them to make sure no arms were exported to countries where they were banned. Obama said he won't push for the renewal of a U.S. ban on some semiautomatic weapons, as it is not likely to pass Congress. Instead, he called for the Senate to ratify the said treaty.

Obama Orders Cartels' Assets Be Seized
April 15, 2009
U.S. President Barack Obama ordered the seizure of assets of three Mexican drug cartels, raising U.S. efforts to help Mexico combat drug violence. By designating the Sinaloa Cartel, the Gulf Cartel–Los Zetas, and La Familia Michoacana under the Foreign Narcotics Kingpin Designation Act, the Treasury Department will be permitted to block or seize any assets, accounts or securities under U.S. jurisdiction of those belonging to these cartels or those who act on their behalf. President Obama also pledged to prosecute Americans who do business with the cartels. Obama's action came the day before he traveled to Mexico on his first official visit to the country.

Drug–War Toll Down 26% From 4Q 2008; Doubles When Compared To 1Q 2008
April 13, 2009
According to deputy secretary for the National Security Counsel Alejandro Rubido, the violence linked to organized crime in Mexico took the lives of 2,644 people in the first quarter of 2009, but this figure was 26% below the level in the previous three months. Rubido said that security operations undertaken by the government led to a significant reduction in the number of homicides. Even so, if 1Q pace were to be maintained for the rest of the year, 2009 would end with more than 10,000 gangland deaths, shattering the record of 6,000 set in 2008. Figures from local newspapers that keep their own records indicate that the number of drug–related homicides in 1Q 2009 is 2004 deaths, a two–fold increase when compared with 1Q 2008.

U.S. Names New Border Czar With Experience On Mexico
April 16, 2009
The U.S. has named former Justice Department official Alan Bersin, who led a 1990s crackdown on illegal border crossings, as new U.S. post of "border czar" to oversee efforts to end drug cartel violence along the U.S.–Mexico border and to slow the tide of illegal immigration. Alan Bersin, who also once served as California's Education Secretary, was named to the post by Homeland Security Secretary Janet Napolitano.

Congress Debates Legalizing Marijuana
April 13, 2009
Congress opened a three–day debate on the merits of legalizing marijuana for personal use, a policy backed by three former Latin American presidents who warned that a crackdown on drug cartels is not working. Although President Calderon has opposed the idea, the unprecedented forum shows that legalizing marijuana is gaining support in Mexico amid brutal drug violence. Analysts say that such a measure would be sure to strain relations with the U.S. at a time when the two countries are stepping up cooperation in the fight against drug trafficking. The congressional debate, open to academics, experts and government officials, ended a day before President Barack Obama arrived in Mexico for talks on the drug war.

U.S. Auto Thefts Plague Border Region; Drug Cartels Lead Illicit Vehicle Trade
April 13, 2009
According to data released by the U.S. National Insurance Crime Bureau, a nonprofit body that collects law enforcement reports, of the 20 U.S. metropolitan regions with the highest theft rates, 7 are near the Mexico border: Laredo, San Diego, Albuquerque, Tucson, El Centro, El Paso and Phoenix. These cities are becoming the stolen–car meccas of the U.S., as drug cartels are helping to make the U.S.–Mexico border region a hot spot for vehicle thieves. While Mexican drug cartels aren't behind every stolen car along the border, police say their money drives the professional side of the trade.

SEDENA: Army Captures High–Ranking Beltran Leyva Cartel Operative
April 14, 2009
The National Defense Ministry (SEDENA) announced that soldiers captured Ruben Granados Vargas, the reputed representative of the Beltran Leyva drug cartel in the Costa Grande region of the southern state of Guerrero. Granados was engaged in a battle with former rancher Rogaciano Alba Alvarez for control of the drug trade along a stretch of Guerrero's Pacific coast. Soldiers captured Granados and two of his bodyguards in the municipality of Tecpan de Galeana, and they seized from them four rifles and small quantities of drugs.

SEDENA: 15 Gunmen, One Soldier Killed In Shootout
April 16, 2009
The National Defense Ministry (SEDENA) said that a shootout between troops and a convoy of gunmen left 15 assailants and one soldier dead. The shootout happened in a remote, mountainous region in the state of Guerrero, where the Pacific coast resort of Acapulco is located. Soldiers came under fire from a convoy of gunmen while patrolling the drug trafficking hotbed. One was killed and another wounded in the battle near the town of San Nicolas del Oro. Troops later seized two .50 caliber Barrett rifles, 17 other rifles, 8 grenades, 2 handguns, ammunition and 8 vehicles.

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Arts & Culture

Twelve Thematic Parks To Be Built In Guanajuato For Independence Bicentennial
April 14, 2009
According to the Governor of the state of Guanajuato, at least 12 thematic parks will be built there to celebrate Mexico's Independence Bicentennial Anniversary. The parks will be located in different municipalities, which include Dolores Hidalgo, San Miguel de Allende, Guanajuato, Leon, Acambaro, Villagran and Celaya. The thematic parks will feature aquariums, botanic gardens and bird cages, among other attractions. The parks are part of the Bicentennial Expo.

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Other

Coral Fossils In Mexico Suggest That Sea Level Can Rise Rapidly
April 16, 2009
Scientists reported in a new study published in the journal Nature, that evidence from fossil coral reefs in Mexico underlines the potential for a sudden jump in sea levels because of global warming. The study suggests that a sudden rise of between 6.5 feet and 10 feet occurred within a span of 50 to 100 years about 121,000 years ago, at the end of the last warm interval between ice ages. The study focuses on a set of fossil reef remains exposed in excavations for channels at a resort and water park, Xcaret, about 35 miles south of Cancun on the east coast of the Yucatan Peninsula.

Burger King To Scrap Spain Subsidiary's Ad After Complaint By Mexico
April 14, 2009
U.S. fast–food giant Burger King apologized for an advertisement featuring a squat Mexican draped in his country's flag next to a tall American cowboy. Mexico's Ambassador to Spain said posters released in Europe for Burger King's new Tex–Mex style "Texican Whopper" inappropriately displayed the Mexican flag, whose image is protected under national law. Mexico requested that the ad campaign be discontinued. Burger King said the ads were meant to show a mixture of influences from the southwestern U.S. and Mexico, not to poke fun at Mexican culture, but said it would replace the ads "as soon as commercially possible."

Mexican Sailing Ship Arrives In China To Join International Fleet Review
April 18, 2009
Sailing ship ARM Cuauhtemoc of the Mexican Navy arrived in China to attend an international fleet review to celebrate the 60th anniversary of the founding of the People's Liberation Army Navy. The Cuauhtemoc was the first visiting ship to attend the naval celebration and will join another 20 foreign naval vessels from 14 countries scheduled to rendezvous at the port city Qingdao in east China's Shandong Province. The ship, named after the last Aztec emperor who died in the war against the Spanish in the 1500s, is a tall ship ordered by the Mexican Navy from Spain in 1982, with a displacement of 1800 tons.

Red Cross Discharges 109 From Hospital After Mexico Train Crash
April 19, 2009
The Mexican Red Cross said it had discharged 109 people treated for injuries sustained in the crash of two suburban trains 20 kilometers outside of Mexico City, in the State of Mexico (Edomex). A further 20 or more passengers remained in other hospitals belonging to the Mexican Social Security Institute (IMSS). The two trains collided in Tlalnepantla when the rear train slammed into the front train, which was stationary on the track, for reasons that are still under investigation. The crash took place when the trains were traveling through tunnels, close to the residential area Barrientos. Authorities are debating whether the train's operating concession, awarded to Spanish firm CAF, should be cancelled.

Bus Collision Kills 19, Injures 65
April 17, 2009
Authorities said that 19 people died and 65 were injured when two buses collided head–on in the southern state of Chiapas. The crash occurred around midnight near the town of Cintalapa, about an hour away from the city of Tuxtla Gutierrez. One of the buses belonged to a local firm and was headed from Tapachula, a town on the border with Guatemala, toward central Mexico. The other was carrying a group of tourists from Tuxtla Gutierrez to Huatulco, a beachfront resort in the neighboring state of Oaxaca.

Seven Dead, Eight Injured In Multivehicle Crash
April 14, 2009
Seven people were killed and eight others injured in a 12–vehicle pile–up on a highway in central Mexico. Authorities said that the crash occurred at kilometer 80 of the Mexico City–Queretaro highway, and did not provide additional details. The multivehicle accident, according to media reports, happened on a stretch of the highway that has many curves and was triggered by a speeding tractor–trailer. Witnesses said that the truck hit slower–moving vehicles, knocking several automobiles off the highway and then catching fire.

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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

AFP, Associated Press, Calibre Macroworld, The Canadian Press, The Chicago Tribune, Companies' Press Releases, Compranet, Comtex News Network, Diario Oficial de la Federación, Dow Jones Newswires, El Economista, EFE, Excelsior, Federal Information & News Dispatch, El Financiero, The Houston Chronicle, IMF, La Jornada, Los Angeles Times, The Miami Herald, The New York Times, Presidencia de la República, PRNewswire, Reforma, Reuters, San Antonio Express News, San Diego Union Tribune, El Semanario, Stock Exchange Announcements, United Press International, El Universal, The Wall Street Journal, The Washington Post, The Washington Times, 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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