ManattJones Global Strategies
September 7, 2009
News Briefs
August 24 through August 30, 2009
Volume VI, Issue 35

Energy | Mining | Trade & Investment | Banking, Insurance & Finance | Business & Industry | Automotive |
Housing & Mortgaging | Construction & Infrastructure | Retail | Telecommunications & Technology | Economy | Border & Migration | Politics | Justice, Safety & Crime | Health & Science | Arts & Culture | Other



Energy

Pemex: Oil Output Falls 7.8% Year-On-Year In July
August 21, 2009
Pemex announced that oil output fell 7.8% year-on-year in July compared to the like 2008 period, but noted it raised production 42,500 barrels per day (b/d) last month to 2.561 million b/d when compared to June this year. Output in June was affected by planned maintenance at its two largest oil fields, the Cantarell and Ku Maloob Zaap offshore deposits. Pemex expects to raise oil production to 2.65 million b/d by the end of the year by adding new wells at its Chicontepec project.

SENER: Mexico To Ramp Up Ethanol Mixing Program
August 21, 2009
The Energy Ministry (SENER) announced it is planning to increase ethanol blending in major cities across Mexico. Pemex said that starting September it will seek to acquire 176 million liters of ethanol per year to be mixed into gasoline and sold in the Guadalajara metropolitan area, in the state of Jalisco. SENER made the decision following the completion of a pilot program, which mixed 151,600 liters of anhidric ethanol into the gasoline supply in Monterrey, in the state of Nuevo Leon. According to government estimates, once the program in Guadalajara gets under way, the expansion of ethanol use to Monterrey and Mexico City would represent an additional ethanol demand of 626 million liters annually.

Pemex Prepares USD 600 Million Natural Gas Pipeline Tender
August 27, 2009
Pemex announced it is preparing to seek bids from private companies on a USD 600 million natural gas pipeline project in central Mexico. Pemex said that representatives from 18 pipeline, construction, and infrastructure development firms showed interest in the project. To raise transmission capacity by 400 million cubic feet a day, the plan calls for the construction of a 230-kilometer pipeline from Tamazunchale to San Luis de la Paz and a 56- kilometer line from San Luis de la Paz to San Jose Iturbide. Companies that choose to participate in the tender for the 20-year service contract will determine the route the line should take, as well as the technical specifications.

ICASA Proyectos Beats Large Rivals' Bids For Pemex Project
August 25, 2009
Mexican infrastructure company ICASA Proyectos beat bids from larger rivals such as Ingenieros Civiles y Asociados (ICA) and billionaire Carlos Slim's CICSA, among 23 other competitors, for the construction of a MXN 424 million, 16"-diameter gas duct in the state of Tabasco. Works will begin in September and last 240 days.

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Mining

ArcelorMittal Announces It Will Meet Mexico Contracts Despite Strike
August 24, 2009
Global steelmaker ArcelorMittal announced it is meeting its contracts in Mexico despite a two-week strike that has halted production at its Lazaro Cardenas steel plant, in the state of Michoacan. ArcelorMittal said that since August 8 the company has stopped producing 9,700 tons per day of flat steel, used to manufacture household appliances and auto parts, and 4,600 daily tons of long steel, key to the construction industry. ArcelorMittal, which said "negotiations are ongoing," has offered workers a 7% wage increase plus a 2% hike in benefits.

U.S. Government Supports GMex's Rival Bid For Asarco LLC
August 25, 2009
The U.S. government, which is bankrupt miner Asarco LLC's main creditor, has approved and supports India's Vedanta Resources bid for Asarco, in a move that deals a severe blow to Mexican mining giant Grupo Mexico (GMex). According to documents submitted by the U.S. government at the Corpus Christi Federal Bankruptcy Court, Vedanta's proposal might be the most viable restructuring proposal for Asarco. Meanwhile, JP Morgan rating agency said it considers GMex's bid superior to Vedanta's in terms of estimated financial responsibilities.

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Trade & Investment

SE: 1H FDI Falls 23% To USD 9.98 Billion
August 24, 2009
According to the Ministry of Economy (SE), foreign direct investment (FDI) in Mexico fell 23% in the first half of the year to USD 9.98 billion from approximately USD 13 billion in the first half of 2008. SE said that 46% of the investment in the January-June period was in services, 32% in manufacturing and 16% in commerce. The principal sources of investment were the U.S., Puerto Rico and the E.U. Foreign direct investment has slowed this year amid the recession in which Mexico's gross domestic product fell 9.2% year-on-year in the first six months.

INEGI: Trade Deficit Widens To USD 1.28 Billion In July
August 24, 2009
According to the National Statistics Institute (INEGI), Mexico ran up a wider-than-expected trade deficit last month, as exports of oil and manufactured goods slumped from a year ago. INEGI said that Mexico had a trade deficit of USD 1.28 billion in July, wider than June's USD 209 million gap and the shortfall of USD 1.22 billion in July 2008. Exports fell 35% year-on-year to USD 17.98 billion, led by a 51% drop in oil exports to USD 2.89 billion and a 31% drop in manufacturing exports to USD 14.51 billion. Imports of goods used in production processes fell 34% to USD 13.83 billion, while imports of equipment and machinery fell 31% to USD 2.55 billion, and consumer goods imports were down 31% to USD 2.88 billion.

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Banking, Insurance & Finance

IMF Awards Banxico USD 4 Billion To Increase Liquidity, Reserves
August 24, 2009
The International Monetary Fund (IMF) said it will award USD 4 billion to Mexico's central bank (Banxico) to increase its liquidity and boost its foreign reserves. The funds are denominated in Special Drawing Rights, an international currency established by the IMF in 1969, and constitutes a portion of the USD 283 billion that G-20 countries agreed to disburse in an effort to shore up the global economy.

CONSAR Loosens Pension Fund Equity Investment Rules
August 24, 2009
Mexico's pension fund regulator (CONSAR) awarded compulsory pension savings industry greater flexibility to invest in equities under a change to their investment regime by financial system regulators. Pension funds, locally known as Afores, can only invest in equities through authorized stock indexes and exchange traded funds, or by replicating the asset allocation of those indexes and ETFs. CONSAR specified that the country's Risk Analysis Committee raised the level of deviation to 4% points from 1% for the asset weighting of individual stocks in the indexes and ETFs imitated by Afores. The Committee is comprised of representatives from the Finance and Public Credit Ministry (SHCP), the Bank of Mexico (Banxico), CONSAR, the National Banking and Securities Commission (CNBV), and insurance regulator CNSF.

BBVA Bancomer Lists ETF On BMV
August 27, 2009
Mexican-Spanish bank BBVA Bancomer launched an exchange-traded fund on the Mexican Stock Exchange (BMV) that mimics the Dow Jones Mexico Titans 20 Index. The ETF, called Mextrac, invests in 20 publicly traded Mexican firms in the Dow Jones Mexico Titans 20 Index, which are selected based on their float-adjusted market capitalization and 12-month average trading volume. BBVA Bancomer's asset management arm said the bank expects pension fund regulator CONSAR to allow pension funds administrators (Afores) to invest in the ETF sometime in September.

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Business & Industry

Whirlpool To Move Part Of Production To Mexico
August 28, 2009
U.S. appliance manufacturer Whirlpool announced plans to shut a manufacturing facility in Evansville, Indiana, and move some production to Mexico next year, a change that will eliminate approximately 1.6% of its workforce. Whirlpool, which has beaten expectations in the last two quarters due to aggressive cost-cutting, said the move to eliminate some 1,100 full-time positions in the U.S. would not affect its 2009 forecast. Whirlpool specified it plans to transfer production of top-freezer refrigerators made at the Indiana facility to a unit in Mexico, but noted it has not yet determined where to relocate its icemakers.

Televisa Teams Up With Pharmaceuticals Maker Genomma Lab
August 30, 2009
Mexican media conglomerate Grupo Televisa and Mexican pharmaceuticals company Genomma Lab Internacional unveiled plans to form a strategic alliance to sell personal care and over-the-counter medicines in the U.S. and Puerto Rico. Televisa said in a press release that the alliance will work through the joint venture Televisa Consumer Products USA, which will be 51% owned by Televisa and 49% by Genomma Lab. The joint venture will distribute and sell Genomma Lab products. Televisa will contribute its different media platforms in the U.S. and Puerto Rico to provide publicity for Genomma Lab brands. The deal is expected to be completed in the coming months, and the alliance is to begin operating at the end of the year.

Vitro Ceases Listing On The NYSE
August 25, 2009
Mexican glassmaker Vitro announced it has terminated its contract with the Bank of New York Mellon (BNY Mellon) to be listed on the New York Stock Exchange (NYSE) due mostly to the low amount of American Depositary Receipts (ADRs) it traded there. Vitro also said it made the decision to focus on the securitization of its shares in Mexico and to reduce the high costs of being listed on the NYSE.

Mabe Increases Production By 40% On Appliances Replacement Program
August 28, 2009
Mexican home appliances maker Mabe announced it increased production by 40% at its plant in the state of Queretaro, due to the federal government's Para Vivir Mejor home appliances replacement program. It added it recently awarded the 100,000th refrigerator since the program was put in place during the current administration and noted it is expected that energy consumption with the new appliances will be reduced to 923 GW per hour, or equivalent to 21 months of electricity consumption by the whole state of Queretaro.

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Automotive

Nissan Invests USD 5 Million In Aguascalientes, Cuernavaca Plants
August 26, 2009
Japanese automaker Nissan announced it has invested USD 5 million in the implementation of environmental programs at its plants in Aguascalientes, in the state of the same name, and Cuernavaca, in the state of Morelos, in order to recycle as many remaining parts as possible from its regular production process and reduce the amount of polluting particles that are released in the environment. Nissan said it recycles 99% of the waste it creates.

Housing & Mortgaging

Infonavit To Diversify Mortgage Bond Offerings
August 26, 2009
Federal government-run housing fund Infonavit announced it is considering broadening its range of mortgage-backed bonds as it looks to diversify sources of financing. Infonavit said that it is studying costs, benefits, and the market's receptiveness to a possible issuance through Hipotecaria Total (HiTo). HiTo issues standardized AAA-rated mortgage bonds known as Bonhitos over its securitization platform. Under HiTo's platform, loans can be securitized just days after closing, making the process less capital-intensive and less subject to interest-rate fluctuations than other types of securitization. Meanwhile, Infonavit said it has completed nearly 54% of its annual goal of a half-million mortgages and specified that it made 267,462 mortgages between January 1 and August 23 for MXN 83 billion, of which 69,269 were through co-financing arrangements with banks and home finance companies.

ICA Negotiates Investment With Macquarie Bank
August 26, 2009
Mexican construction firm Ingenieros Civiles y Asociados (ICA) announced that it is in a negotiation process with Australia's Macquarie bank to secure MXN 11.2 billion investment in infrastructure in Mexico. Mexico's Banking and Securities Commission (CNBV) said that Macquarie plans to place the MXN 11.2 billion in Mexico in titles maturing in 2036.

Acciona Obtains Contracts Worth EUR 30 Million To Build Hospitals In Mexico
August 24, 2009
Spanish services and construction company Acciona announced that it secured a EUR 30 million contract to build hospitals in large and rural cities in the states of Jalisco, Veracruz, Campeche and Baja California.

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Retail

Comerci Launches New Fresco Store
August 24, 2009
Mexican retailer Comercial Mexicana (Comerci) announced it will launch a new retail chain called "Fresco" to supply more expensive products for the upper-income segments of the population. Comerci noted that the new stores will sell products below the gourmet category goods it distributes in its City Market stores but more expensive than the items it provides at the Sumesa, Mega, and Comercial Mexicana stores. Comerci will launch Fresco in a bid to compete with Wal-Mart de Mexico's Superama stores.

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Telecommunications & Technology

SCT To Auction Wireless Spectrum For Mobile Services In Mid-Late September
August 24, 2009
The Communications and Transport Ministry (SCT) announced that it expects to begin accepting bids by mid-late September for the sale of wireless spectrum for mobile telephony services. SCT said that the government has planned to open the bidding process at the end of August or in the first half of September. The Federal Telecommunications Commission (Cofetel) has said spectrum in the 1.7 GHz and 1.9 GHz bands will be auctioned simultaneously. The government hopes the long-delayed auction of new spectrum will increase competition in Mexico's mobile phone industry, where two companies control more than 90% of the market.

SCT To Receive MXN 905 Million From Time Extensions For Mobile Operators
August 24, 2009
The Communications and Transport Ministry (SCT) announced that it will receive as much as MXN 905 million from mobile telephony operators, as it awarded them seven time extensions for 53.3 MHz frequencies for radio communications, along with additional mobile telephony services. In addition, SCT authorized two modifications to mobile operators' concessions for mobile radio communication services for closed groups (specialized fleets) and nine permits to commercialize telecommunications services. SCT also awarded 22 frequencies for official use to coordinate public security and civil protection tasks.

CNBV Eyes Mobile Phones To Boost Financial Service Use
August 27, 2009
The National Banking and Securities Commission (CNBV) said it is creating a regulatory framework to allow mobile phones to be used like a debit card. CNBV said policymakers are now seeking to take advantage of the widespread use of mobile telephony to bring financial services to consumers who are underserved or do not use banking services, especially the urban and rural poor whose contact with a bank might be limited to paying bills or collecting remittances. Mexico's four mobile operators reported 80.4 million subscribers at the end of June.

SCT Modifies Nextel's Concession, Allows It To Provide Mobile Telephony
August 25, 2009
Mobile telephony provider Nextel announced that the Communications and Transport Ministry (SCT) modified its concession title and allowed it to provide mobile telephony services in Mexico, bringing more competition to a market dominated by America Movil's Telcel and Spain's Movistar. Before the changes were made to the concession, Nextel was allowed to provide only radio communication services.

Telcel To Provide 3G Network For Video Game Platform Zeebo
August 26, 2009
Mexican mobile telephony provider Telcel announced that it will provide its 3G network to U.S. video game platform Zeebo, which does not use CD-ROM or DVD-ROM formats used by competitors Nintendo's Wii, Sony's PlayStation, and Microsoft's Xbox. Zeebo is a platform in which video games are downloaded from the Internet to avoid risks of piracy or illegal sales. The video game platform is expected to be launched by the end of the year.

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Economy

SHCP: Mexico's Economic Slump Has Hit Bottom
August 23, 2009
According to the Finance and Public Credit Ministry (SHCP), Mexico's economy, slammed by a drop in U.S. demand, has sunk to its lowest point, and recent data shows signs of growth. SHCP said, "The crisis has touched bottom in Mexico. The recovery has begun," as the country's economic output was down 1.1% in 2Q compared to 1Q, a much smaller decline than in the January-March period. Mexico's economy is expected to shrink about 7% overall in 2009 after slumping in the first half and then recovering slightly. In addition, Merrill Lynch readjusted its forecasts for Mexico and noted it expects the country will recover its annual 3% growth rate next year, supporting SHCP's announcement and adding that the economic recovery will start in 2H 2009.

SHCP: January-July Fiscal Deficit MXN 143.9 Billion
August 28, 2009
According to the Finance and Public Credit Ministry (SHCP), the government ran up a fiscal deficit of MXN 49.255 billion in July and a total fiscal deficit of MXN 143.9 billion in the first seven months of the year as lower oil and tax revenue combined with increased spending designed to counter the economic slump. SHCP said that revenue in the first seven months of the year fell 8% from the like 2008 period, as an increase in non tax income offset a 19% drop in oil revenue and a 14% drop in tax collections. Programmable spending, which excludes debt-financing costs and transfers to state governments, rose 15% from the first seven months of 2008 as the government maintains a counter cyclical policy to cushion the recession. Mexico expects to end the year with a fiscal deficit of between 1.8% and 2% of GDP.

Banxico: Mexico Posts USD 454 Million Current Account Surplus In 2Q
August 25, 2009
According to the central bank (Banxico), Mexico ran up a current account surplus of USD 454 million in 2Q despite lower remittances and a drop in tourism revenue as a result of the A/H1N1 influenza virus outbreak. Banxico said surpluses in trade and transfers compensated deficits in other services during the quarter, which was the first in four years to see a current account surplus. The trade balance was a positive USD 680 million, while transfers amounted to net inflows of USD 5.71 billion, including USD 5.6 billion in family remittances.

Banxico: Cash Remittances To Mexico Fall 17.9% In 2Q Year-On-Year
August 26, 2009
The central bank (Banxico) said that cash remittances from Mexicans living abroad keep tumbling, with a 17.9% drop when compared to the like 2008 period. Banxico said remittances for April through June fell to USD 5.6 billion, continuing a downward trend that has lasted more than a year. The money transfers are off 12% during the first six months of 2009, compared with the first half of 2008. Remittances are one of Mexico's top three sources of foreign income, along with oil and tourism, and help sustain millions of Mexican families.

Banxico: August Inflation Is Lowest In More Than A Year
August 24, 2009
According to the central bank (Banxico), Mexican inflation slowed to 5.12% in early August, the lowest annual reading in more than a year, as the worst recession in decades kept prices down. Although the inflation reading was much lower than expected, it remains above Banxico's long-term target, and the bank is seen keeping borrowing costs steady next month. The 5.12% annual inflation level for the 12 months through mid-August was the lowest level since May 2008, and inflation was down from 5.54% a month earlier. Banxico put an end to seven months of consecutive cuts in borrowing costs earlier this month when it held interest rates steady, saying it was extending a pause in monetary policy changes that it announced in July.

INEGI: July Unemployment Rises To 6.1% From 5.2% In June
August 26, 2009
According to the National Statistics Institute (INEGI), Mexico's unemployment rate rose in July to its highest level in years as students sought summer work, putting further pressure on a labor market hit by the recession. INEGI said that 6.1% of the workforce was unemployed last month, up from 5.2% in June and 4.2% in July 2008. The jobless rate was the highest on record back to 2000. Urban unemployment, which considers the country's 32 largest cities, rose to 7.7% from 6.4% in June and 5.2% in July 2008. It was the highest level on record back to late 1996. Meanwhile, the Labor and Social Welfare Ministry (STPS) said the Organization For Economic Cooperation and Development (OECD) noted Mexico has one of the lowest unemployment rates in Latin America.

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Border & Migration

Mexico: Anti-Mexican Discrimination In The U.S. Is Growing
August 28, 2009
According to Daniel Hernandez, Mexico's Director of Consular Affairs and Protection, discrimination against Mexicans in the U.S. is growing and is most pronounced in areas where immigration is relatively new. Hernandez said they are seeing the most complex, hard and deep-seated discrimination in areas where immigration is new, where there may be fewer Mexicans, a variable that toughens the phenomenon, although he did not cite specific examples or causes for the trend. Hernandez said there appears to be less discrimination in areas like Texas and California, with longstanding Mexican immigrant communities. Almost 12 million Mexicans live in the U.S.

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Politics

PRI Legislators Postponed Presidential Report On State Of The Nation
August 28, 2009
Legislators from the Institutional Revolutionary Party (PRI), who won the most recent midterm congressional elections, ruled that the President's annual report on the nation should be pushed back and delivered at a date later than September 1, when the Legislature would receive the written version of the report. Lawmakers indicated that the reason for taking such a measure was that the new LXI Legislature would begin its September 1 session at a time later than President Calderon's originally planned oral presentation of the said report that same day, a move that would have violated Article 6 of the General Congress's Organic Law.

PRI Elects Party Coordinator At The Lower Chamber Of Congress
August 26, 2009
Legislators from the Institutional Revolutionary Party (PRI) elected Francisco Rojas as the new coordinator for the party at the Lower House of Congress. Rojas was the sole candidate for the post. Coordinators for other parties at the Lower House have also been confirmed and are Josefina Vazquez Mota for the PAN, Alejandro Encinas, for the PRD, Pedro Vazquez Gonzalez for the (PT), Alejandro Gertz Manero for Convergencia, Reyes Tamez Guerra for Nueva Alianza, and Juan Jose Guerrero Abud for the PVEM.

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Justice, Safety & Crime

U.S. Warns About Possible Terrorist Attacks By The Sinaloa Cartel
August 24, 2009
The U.S. Drug Enforcement Administration (DEA) has warned against possible terrorist threats that might be undertaken by the Sinaloa drug cartel and would target Mexico's governmental structures and border security agencies as a retaliatory measure against the government's actions affecting the cartel's narcotics distribution. The report by the DEA said Sinaloa cartel leaders Joaquin "El Chapo" Guzman Loera and Ismael "El Mayo" Zambada ordered the purchase of high-power weapons to lead the attack.

U.S.-Mexico Draft Strategy Against Arms Smuggling
August 25, 2009
U.S. and Mexican security authorities met in Mexico to coordinate new actions against weapons smuggling and discuss ways to increase Mexico's capacity to trace arms that have been seized from criminals. A press report by the U.S. Embassy in Mexico said that such cooperation efforts have led to an increased amount of seizures and prosecution against traffickers.

Minister Of Interior Explains New Drug Law
August 28, 2009
Minister of Interior Fernando Gomez-Mont said that the new drug-use law in Mexico that promotes treatment rather than prison for those caught with small amounts of marijuana, cocaine and other drugs will also give state authorities a greater role in prosecuting drug crimes. Gomez-Mont noted that the law allows for prosecution of those caught near school zones and added that offenders caught a third time with a small amount of drugs face prosecution. Gomez- Mont stressed the fact that the measure is not a synonym for decriminalization.

SEDENA: Authorities Arrest Leading Member Of La Familia Cartel
August 28, 2009
The National Defense Ministry (SEDENA) announced that soldiers captured Luis Ricardo Magaña, a.k.a. "19 1/2," whom prosecutors describe as a leading member of the violent La Familia drug cartel. Magaña is allegedly on the level of cartel leader Servando "La Tuta" Gomez and purportedly controlled methamphetamine shipments to the U.S. for the gang. Gomez is one of Mexico's most wanted fugitives and is blamed for retaliation attacks on federal police in the cartel's home state of Michoacan in western Mexico. Magaña was captured in the Pacific Coast port of Manzanillo along with five men believed to be his bodyguards.

ICESI: Chihuahua, Sinaloa, BC And DF Are Country's Most Insecure States
August 26, 2009
According to the Citizens' Institute for Studies on Insecurity (ICESI), the northern states of Chihuahua, Sinaloa, Baja California and the Federal District are the most insecure entities in Mexico, featuring the highest crime and insecurity rates. ICESI said results on some states and cities were not published, as people surveyed were often observed by unknown individuals, which reduced the levels of freedom of expression and thereby the accuracy of the indicators.

U.S. To Extradite Chinese Businessman Wanted In Mexico
August 30, 2009
The U.S. and Mexico negotiated and agreed on the extradition of Chinese-Mexican businessman Zhenli Ye Gon to Mexico to be tried on several charges after a U.S. court exonerated him from charges on drug trafficking and conspiracy for money laundering. Mexico's Federal Attorney General (PGR) said that the ruling by the U.S. court was part of the strategy to bring Ye Gon to Mexico and prosecute him on more severe charges and more solid accusations against him. U.S. Judge Emmet Sullivan exonerated Ye Gon, saying evidence against him on conspiracy for drug trafficking and money laundering was insufficient to convict him.

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Health & Science

SSA: Mexico Could See One Million A/H1N1 Cases In Winter
August 28, 2009
The Health Ministry (SSA) said that there could be as many as 1 million A/H1N1 influenza cases nationwide during the winter, a steep rise from the current number of 21,264. SSA said the situation at present is in "a very stable phase," with between 80 and 100 cases reported daily across Mexico. SSA added that 184 deaths have been reported since the A/H1N1 strain was identified in Mexico in April. SSA noted authorities have drawn up plans to confront the possible upsurge in cases, possibly including more selective school closures in areas particularly affected.

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Arts & Culture

Mexico's Controversial Public Education Textbook Omits Conquest Period
August 25, 2009
A new sixth-grade history textbook published by the Public Education Ministry (SEP) is causing a stir in Mexico because it leaves out any mention of the Spanish Conquest. Few events have shaped Mexico's culture, ethnicity, and history more than the 1521 conquest. However, SEP's world history book ends in the age of exploration with a reference to the rising world powers of Spain and Portugal. Assistant Public Education Minister Fernando Gonzalez said that there was no intention of covering up Spain's conquest of indigenous societies in America and added that the period will be covered by middle-school history texts. Nevertheless, some academics insist on the fact that a mention of the period should be included.

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Other

Hurricane Jimena Strengthens In Mexican Pacific
August 30, 2009
The U.S. National Hurricane Center said Hurricane Jimena strengthened to a major Category 3 storm off Mexico's Pacific Coast and was headed close to the Baja California peninsula. Hurricanes of Category 3 or higher on the fivestep Saffir-Simpson intensity scale are considered "major" and are the most destructive type.

Mexico's Michael Jackson Fans Beat Simultaneous "Thriller" Dance Record
August 30, 2009
According to preliminary results, thousands of Mexicans broke the record for most people dancing to Michael Jackson's "Thriller" simultaneously in one place on the day of the deceased artist's 51st birthday. The Guinness Book of World Records will decide shortly and provide definitive results. The current record was set in May by a group of 242 College of William & Mary students who performed the routine in Williamsburg, Virginia, according to Guinness.

Mariachis Set World Record In Guadalajara
August 30, 2009
A total of 549 musicians got together in the city of Guadalajara, in the state of Jalisco, to win the record for the birthplace of Mariachi music, playing several songs in just over 10 minutes, closing with favorites "Cielito Lindo" and "Guadalajara." Stuart Claxton, a representative of the Guinness Book of World Records, made the record official at the International Mariachi Festival. The old record belonged to 520 mariachis who performed in San Antonio, Texas, in 2007.

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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, Canada Newswire, The Canadian Press, Comisión Federal de Competencia, Companies' Press Releases, Compranet, Diario Oficial de la Federación, Dow Jones Newswires, El Economista, EFE, Excelsior, Exonline, El Financiero, The Houston Chronicle, La Jornada, Los Angeles Times, McClatchy, The New York Times,Presidencia de la República, PRNewswire, Reforma, Reuters, San Antonio Express News, San Diego Union Tribune, El Semanario, Stock Exchange Announcements, Tribune Business News, 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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