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FridayJune 22, 2012

Latino Daily News: Bringing You the Latest Hispanic Current Events and News Stories 24/7

To reflect the dynamic interests of our audience, Latino Daily News is an online daily news source and virtual cultural center for and about Latinos. We offer the latest news headlines, as well as innovative and insightful Hispanic current events stories, photos, videos, and commentaries from a Latino perspective, 24/7.

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Gustavo Dudamel to Compose Musical Score for Simon Bolivar Biopic

Gustavo Dudamel to Compose Musical Score for Simon Bolivar Biopic

Photo: LA Weekly

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The Los Angeles Philharmonic’s music director, Venezuelan Gustavo Dudamel, will make his debut as a composer of music for film with the score for “Libertador,” a biopic about South American independence leader Simon Bolivar.

“Libertador,” a Spanish-Venezuelan production, is being called the most ambitious idependent film project ever undertaken in South America.

The film “will be the South American Braveheart,” Winfried Hammacher, one of the producers, told The Hollywood Reporter.

Dudamel, who is also music director of the Gothenburg Symphony Orchestra and Venezuela’s Simon Bolivar Symphony Orchestra, will provide the music for “Libertador,” which is being directed by Alberto Arvelo.

Venezuelan actor Edgar Ramirez (“Carlos”) will play Bolivar.

The cast includes Spain’s Imanol Arias, Maria Valverde and Juana Acosta, as well as Danny Huston and Gary Lewis.

The screenplay was written by Timothy Sexton, the author of “Children of Men.”

Arvelo recently wrapped shooting in Venezuela before moving the production to Spain. All told, there are more than 100 different sets employed in the film and more than 10,000 extras.

Dudamel became famous for his dynamic performances with musicians from Venezuela’s National System of Youth and Children’s Orchestras.

Read more by HS News Staff →

Bolivia: President Morales Offers to Increase Policemen’s Pay to Avoid Mutiny

Bolivia: President Morales Offers to Increase Policemen’s Pay to Avoid Mutiny

Photo: Bolivia: President Morales Offers to Increase Policemen's Pay to Avoid Mutiny

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President Evo Morales offered Friday to increase the pay of thousands of mutinous cops who sacked a police building 100 meters (yards) from the presidential palace.

Morales returned early from the U.N. environmental conference in Brazil to address the police crisis, Interior Minister Carlos Romero told reporters.

“He has expressly instructed us to work, to effectuate attention to the requirements of the police,” the minister said.

Leaders of the mutiny claim to represent a majority of the 30,000 rank and file and non-commissioned officers, or around 85 percent of the national police.

The disgruntled cops want to be paid commensurately with their counterparts in the armed forces, as well as bigger pensions, the repeal of a disciplinary process they say is stacked against them and the creation of an ombud’s office within the police force.

Romero said he told the leaders of the mutiny that the government proposes to increase their pay to $287 a month, compared with $178 currently.

Bolivia, one of the poorest nations in Latin America, has a statutory minimum salary of $144 a month, while median pay in 2011 was around $546 monthly.

Urging the mutineers to “suspend the acts of violence,” Romero said authorities have been in contact with the rebel police since Thursday night.

A leader of the protest, Edgar Ramos, said the government needs to put its proposals in writing and Guadalupe Cardenas, speaking for the wives of the mutinous police, insisted on direct talks with Morales.

Hours before Romero offered the pay raise, hundreds of cops and their wives sacked a building that housed the police intelligence division and disciplinary tribunal, setting files, computers and furniture on fire and destroying doors and windows.

The building was targeted because the disciplinary tribunal is very hard on low-ranking police accused of violating rules, spokespeople for the movement said.

Police - even traffic cops - remained absent from the streets of La Paz, where many banks and shops closed early on Friday. The presidential palace was on lockdown and under the protection of several squadrons of military police.

Read more by HS News Staff →

New York Police Search for Dali Art Thief

New York Police Search for Dali Art Thief

Photo: Surveillance image

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New York police were hunting Friday for a man who strolled into a Manhattan gallery pretending to be a customer and robbed a painting entitled “Cartel de Don Juan Tenorio” by Salvador Dali.

The thief took the painting off the wall, put it in a bag and left the gallery without anyone noticing that a robbery was being committed, The New York Times reported Friday.

The painting was taken from the Venus Over Manhattan gallery, according to the daily, adding that the work by Dali (1904-1989) was valued at approximately $150,000 (119,300 euros).

The same source said that video images from a surveillance camera in the gallery, founded by writer and art collector Adam Lindemann, shows a man who appears to be between 35 and 45 years old with a notably receding hairline, wearing a checked shirt and carrying his haul in a large paper bag.

The stolen painting is a work in ink and watercolor that the Spanish artist created in 1949.
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According to the online edition of the New York Post, Lindemann, who among his other enterprises founded a chain of 20 Spanish-language radio stations, said his company was cooperating with the police but offered no further comments.

The same daily said that the gallery’s security guard told police that while he was keeping an eye on the the thief, the man asked him if he could take a picture of the painting, to which the guard replied that he could but it had to be without a flash.

Read more by HS News Staff →

Gloria and Emilio Estefan Celebrate the Birth of Their Grandson

Gloria and Emilio Estefan Celebrate the Birth of Their Grandson

Photo: Gloria Estefan's joke on Twitter

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Gloria and Emilio Estefan became grandparents for the first time with the birth in Miami of Sasha Argento Estefan-Coppola, the first child of the recording artists’ son Nayib and his wife Lara Coppola.

“My heart was already full & now it runs over! There’s a new man in my life! Sasha Argento Estefan, our 1st grandson was born at 8:04 (a.m. Thursday)! I’m in love!” the 54-year-old Gloria wrote on Twitter.

The “Queen of Latin Pop” offered further details on the social networking site, noting that the newborn weighed just over eight pounds and measured 19 inches.

The Cuban-American singer, a three-time Grammy winner and four-time Latin Grammy winner, said the name Sasha is “a name of Russian descent that means ‘benefactor of mankind’” and was “the other name we had intended for Nayib.”

“He’s beautiful and everyone is so happy!” Gloria wrote, joking that “the baby looks like his Grandpa” and posting a photo of a newborn with the face of her husband, 59-year-old musician and producer Emilio Estefan.

She said Thursday was a day of “many tears of happiness” and the entire family is “over the moon.”

Read more by HS News Staff →

10-year-old Traffic Summons Lands New Jersey Woman in New York Jail

A New Jersey woman learned the hard way that ignoring or forgetting a traffic summons, even if it’s in another state, is never a good idea.

Ten years ago, Krystle Garcia, 27, was given a court summons for not having her insurance card with her while she drove in New York. Then 17, Garcia says she forgot about the summons and was never reminded of it. The New Jersey woman says that for 10 years she has had no problems renewing her license or obtaining vehicle registration sticks. For the last six years, Garcia has driven into New York from New Jersey for work, getting the occasional ticket, and she always paid them without the summons ever being brought up..

So when she was stopped at a checkpoint and jailed last week she was shocked. Garcia spent 14 hours in a jail cell because the summons she had forgotten about resulted in a warrant.

‘It was horrifying,’ Garcia told NBC New York, ‘I sat in a holding cell for 14 hours with people who had gun charges, who were fighting each other.’

Last week, Garcia settled the matter and agreed to pay a $155 fine.

She is not letting what she descried as “torture” go, however, and plans to file a complaint with the police department, saying the 14-hour ordeal left her feeling “completely violated.” Garcia said she wanted to share her story to ensure changes are made so something like this won’t happen to her or anyone else again.

Read more by HS News Staff →

Ronaldo Impressive Header Against Czech Republic - Portugal Advances (VIDEO)

Ronaldo Impressive Header Against Czech Republic - Portugal Advances (VIDEO)

Photo: Cristiano Ronaldo Scores Impressive Header Against Czech Republic

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In Portugal’s match against the Czech Republic Thursday, Cristiano Ronaldo scored with a header against the Czechs’ goalkeeper Petr Cech.

Ronaldo’s goal would be the first, last, and only goal of the match, following two attempts in which he hit the posts and failed to score.

All night, Portugal had been putting on the pressure, but neither they nor the Czechs could score, though Portugal had a solid 20 attempts on the Czech goal. Then, as the end of the match began creeping up, Ronaldo, in the 79th minute, headed a cross by Joao Moutinho, which shot to the ground, bounced up and flew past the hands of Cech.

With this win, Portugal advances to the semifinals of the Euro2012 Championship.

Though he seemed to have a rocky start at the start of the championship seasons, the last two games he seems to have “found his mojo” so to speak, as Thursday’s goal was his third in two games.

Check out the goal below.


Related Videos

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Speech Recognition Technology Now Allows YouTube to Offer Spanish Subtitles for Videos

Speech Recognition Technology Now Allows YouTube to Offer Spanish Subtitles for Videos

Photo: Speech Recognition Technology Now Allows YouTube to Offer Spanish Subtitles for Videos

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YouTube recently announced it has expanded its language accessibility to add automatic captions in Spanish.

According to the YouTube blog:

When a video has recognizable speech, you’ll see a “CC” button appear in the bottom of the player, which will instantly add captions of the video in Spanish. Just look for this icon and click “Transcribe Audio.”

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The hundreds of millions of Spanish speakers in the world are the latest to see the auto-caption feature, adding to other available languages of English, Japanese and Korean. You’ll find auto-captions available on more than 157 million videos, with videos being added every day. We’ll continue to refine our speech recognition technology, and you can learn more about how it works here.

Pulling in about a trillion views a year from all around the world, YouTube has been working towards making as many video as possible available in as many languages as possible. Spanish is one of the latest to be available, with English, Japanese, and Korean. On top of that, once captions are displayed, users can select “Translate Captions” and select from about 50 additional languages.

Technology like this may not phase those who have gotten used to seeing technology evolve at such a rapid pace, but if you consider that YouTube was only founded in 2005, it is truly impressive.

Read more by HS News Staff →

Singer/FBI Employee Files Lawsuit Against DOJ, Saying Co-Workers were Jealous and Spread Rumors

Singer/FBI Employee Files Lawsuit Against DOJ, Saying Co-Workers were Jealous and Spread Rumors

Photo: Singer/FBI Employee Files Lawsuit Against DOJ, Saying Co-Workers were Jealous and Spread Rumors

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According to a lawsuit filed against the U.S. Department of Justice, Erika Bonilla was harassed and discriminated against because she received a promotion her coworkers thought should have gone to someone else and because they were reportedly jealous of her beauty and singing career.

Bonilla, 38, began working at the FBI’s New Mexico field office in 2002. In the summer of 2007, Bonilla was promoted to Administrative Specialist. Thinking she was undeserving of the promotion, the lawsuit claims her coworkers began harassing her and spreading rumors she had slept with higher-ups to nab the promotion. The lawsuit also claims her belongings were rifled through.

Monnica Garcia, Bonilla’s attorney, said, “Ms. Bonilla indicated this harassment included maliciously false rumors, disparate treatment and frivolous complaints that caused her anguish and lost pay.” Adding. “This lawsuit was brought because, despite her repeated complaints to management, the agency failed to address the hostile work environment. Ms. Bonilla hopes this lawsuit will not only compensate her for her damages, but also prevent future acts of discrimination and retaliation.”

Though the promotion ruffled some feathers, Bonilla’s lawsuit also claims she “was targeted, harassed and retaliated against because she is an attractive Hispanic female with a career in Latin music.”

Bonilla is now living in California and continues both her Latin music and FBI careers. She is reportedly doing well at her new office, even having received an award.

As for the lawsuit, Bonilla is seeking unspecified damages, back pay, “and other equitable relief.”

Read more at ABC News →

Paraguayan President’s Impeachment Trial Underway, LatAm Shows Support

Paraguayan President’s Impeachment Trial Underway, LatAm Shows Support

Photo: President Fernando Lugo

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Cabinet ministers from eight South American countries were in this capital on Friday to stand with President Fernando Lugo as his impeachment trial got under way in the Paraguayan Senate.

The opposition-dominated lower house voted overwhelmingly Thursday to impeach Lugo for misfeasance over the events of June 15, when seven police and nine squatters were killed in a clash in the northeastern province of Canindeyu.

The president designated Attorney General Enrique Garcia as his defense counsel in the Senate trial.

Garcia reminded the senators that Lugo has already filed a motion with the Supreme Court challenging the constitutionality of the impeachment, and he complained of having had less than 18 hours to review the accusations against the head of state.

Under the procedure laid down by the Senate, lawmakers are to deliver their verdict on Lugo - which is not subject to appeal - at 4:30 p.m. Friday.

If found guilty, the president would be ousted immediately and replaced by Vice President Federico Franco until the next general election, now scheduled for April 2013.

Lugo met at the presidential palace Friday with Cabinet ministers from Argentina, Bolivia, Brazil, Colombia, Ecuador, Peru, Uruguay and Venezuela and with the secretary-general of the Union of South American Nations, or Unasur, Venezuela’s Ali Rodriguez.

Paraguay currently holds the rotating presidency of Unasur, whose member-states decided Thursday to dispatch officials to Asuncion to show solidarity with Lugo.

The head of the Organization of American States, Jose Miguel Insulza, acknowledged Friday that Paraguay’s constitution allows for impeachment, yet he raised concerns about the compressed timetable.

“The question is if the minimum conditions are in place to have a legitimate defense in the face of the speed of the process,” Insulza said during a special session of the OAS council in Washington.

Lugo, a former Catholic bishop, was elected in 2008 at the head of a broad-based coalition in favor of reform in the poor, landlocked South American nation.

His victory marked the end of 60 years of rule by the Colorado Party, including the 1954-1989 dictatorship of Gen. Alfredo Stroessner.

Hopes for significant change under Lugo have gone largely unfilled, due in part to his personal problem.

After finding himself forced to acknowledge fathering children during his years in the church, Lugo endured a months-long battle with cancer.

Another source of frustration has been obstruction and sabotage by Paraguay’s entrenched political establishment.

Read more by HS News Staff →

Venezuela to Germany: Give Us Back Our Giant Rock

Venezuela to Germany: Give Us Back Our Giant Rock

Photo: Venezuela to Germany: Give Us Back Our Giant Rock

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Venezuela is demanded a German sculpture park give back a 35-ton rock the country’s indigenous Pemon Indians call “Grandmother Kueka”.

The rock sat in Venezuela’s Canaima National Park until 1997 when the Pemon say German artist Wolfgang von Schwarenfeld, along with armed forces, came and took it.

Legend has it that the massive red rock is part of a couple that was turned to stone for an illicit love affair, and should the “grandmother” stone ever be separated from the “grandfather” disaster is sure to strike.

The Pemon believe the pestilence, mudslide, and drought they’ve experienced since the rock’s removal have been caused by the separation.

Von Schwarzenfeld maintains he was given permission to take it back to Germany and says he can prove it with all the paperwork he has.

However, the Venezuelan Institute of Cultural Heritage has convinced the country’s foreign ministry to petition Germany to return the rock.

The mudslide some Pemon believe was caused by the rock’s removal killed roughly 20,000 people.

Read more by HS News Staff →

Edgar Ramirez to Play 19th Century Leader Simon Bolivar in Upcoming Biopic “Libertador”

Edgar Ramirez to Play 19th Century Leader Simon Bolivar in Upcoming Biopic “Libertador”

Photo: Edgar Ramirez to Play Venezuelan Leader Simon Bolivar in Upcoming "Libertador"

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Venezuelen actor Edgar Ramirez is set to star in a biopic about Simon Bolivar, a Latin American freedom fighter in director Alberto Arvelo Mendoza’s “Libertador”.

Bolivar often called “El Libertador”, along with Jose de San Martin were key in helping Latin America gain independence from Spain during the Spanish American wars of the 19th century. The country of Bolivia is actually named after the leader, originally named the Republic of Bolívar.

Ramirez will be joined onscreen by Maria Valverde, Danny Huston, Iwan Rheon, Gary Lewis, and Imanol Arias.

“Libertador"is a co-production between Venezuela and Spain and will primarily be in Spanish, but will also have some French and English dialogue.

Bolivar was an integral leader and his influence is hard to forget as many towns and cities in Venezuela and Colombia have a statue or bust of Bolivar.

The script was penned by Timothy Sexton and will follow the Venezuelan leader’s “military campaign to wrestle independence from Spain and unify Latin America.”

“Libertador” is scheduled to be released in 2013, but ahead of the film’s release, Ramirez can be seen in “Zero Dark Thirty”, a movie about Osama Bin Laden. He can also been seen in “Wrath of the Titans”, “The Bourne Ultimatum”, and “Domino”.

Though Spanish was his first language growing up in Caracas, Venezuel, Ramirez speaks five languages: Spanish, English, French, Italian and German.

Read more by HS News Staff →

STUDY:  Los Angeles Immigrants Contribute $230 Billion Annually to Economy

STUDY:  Los Angeles Immigrants Contribute $230 Billion Annually to Economy

Photo: Los Angeles Immigrants Contribution

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According to a study published online Wednesday, Los Angeles immigrants add $230 Billion yearly to the economy.  While immigrants in California make up a quarter of the 38 million people population, they contribute a third to the work force.  In the areas of agriculture, repair and personal services as well as manufacturing, immigrants make up 45 percent of the work force. 

Co-Author of the study and director of the Center for the Study of Immigrant Integration at the University of Southern California, Manuel Pastor believes according to the Daily News, “We’re seeing immigrants assume an increasingly critical role in California’s economy.  Their substantial contributions as workers and consumers help fuel the state’s economy.”

The study also states that the 3.4 million immigrants in Los Angeles County are more likely to be self employed than other native born workers.  Immigrants encompass 27 percent of household incomes and 38 percent of residents with doctorate degrees.  According to the study, by the year 2015, immigrants will also represent as many as 35 percent of the voting population.

According to Reshma Shamasunder, the other co-author and executive director of the California Immigrant Policy Center, “The report shows that immigrant workers are the backbone of key industries in California.  The story of California is one of successes won through hard work.”

This report, entitled, “Looking Forward:  Immigrant Contributions to the Golden State,” can be found online at:  https://caimmigrant.org/contributions.html.

Read more by HS News Staff →

70 Pounds of Liquid Cocaine Seized at U.S.-Mexico Border

70 Pounds of Liquid Cocaine Seized at U.S.-Mexico Border

Photo: Liquid Cocaine Seized at Border

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U.S. Customs and Border Protection officers at the San Ysidro port of entry this week discovered 71 pounds of liquid cocaine, with a street value of $710,000.

On Tuesday, June 19, at about 3 a.m., CBP officers encountered a 46-year-old male citizen of El Salvador, driving a GMC Sierra pick up truck, waiting in line to enter the U.S. from Mexico. A CBP officer and his canine were screening vehicles when the dog alerted to the rear of the cab. The driver and vehicle were pulled aside for a more in-depth investigation.

A CBP officer searched the vehicle and found four, liquid-filled, plastic jugs hidden behind the rear seat. The officer field-tested the liquid in the jugs and it tested positive for cocaine. Officers subsequently extracted a total of 71 pounds of liquid cocaine from the four jugs.

CBP officers seized the cocaine and truck. The driver, a lawful permanent resident of the United States, was arrested and transported to the Metropolitan Correctional Center.

Read more by HS News Staff →

Turmoil in Colombia Leads to 4 Million Displaced, 400,000 Refugees

Strife-torn Colombia is the scene of the worst humanitarian tragedy in Latin America with nearly 400,000 refugees and 4 million people internally displaced, according to the U.N.‘s refugee agency.

The agency’s spokeswoman for the Andean Region, Francesca Fontanini, confirmed those figures to Efe, adding that the main recipient nations for Colombians fleeing violence in their homeland are Ecuador, with almost 56,000, the United States, 25,000; and Costa Rica, 12,000.

“These are official figures, but it’s estimated that there are many more,” Fontanini said in an interview with Efe coinciding with Wednesday’s commemoration of World Refugee Day.

The U.N. agency, known by the initials UNHCR, puts the number of Colombians forced to abandon their country due to violence and threats at more than 390,000.

That figure does not include an estimated 60,000 asylum seekers.

The spokeswoman also referred to “nearly 4 million” people whom the government recognizes as internally displaced, a figure some non-governmental organizations such as the Consultancy for Human Rights and Displacement put at 5 million.

That level of internal displacement means Colombia is suffering one of the world’s worst humanitarian crises along with Sudan and other Middle Eastern countries, Fontanini said.

The UNHCR’s figures indicate that some 115,000 Colombians may have settled in Ecuador, most of them clandestine refugees, meaning between 1,300-1,500 people are forced to flee to that neighboring country every month.

Fontanini also pointed to a “new phenomenon” in which Colombians no longer stay on the other side of the border but rather seek refuge in the cities and are arriving in large numbers in Guayaquil, Quito and Cuenca, which have received 60 percent of the refugees.

They are fleeing to urban centers due to a “lack of confidence that the situation in their country will improve or because they’ve suffered such a traumatic experience that they don’t want to return,” the U.N. official said.

Urban areas also offer greater employment opportunities, whereas border zones are notoriously unsafe due to the significant presence of illegal armed groups.

The same situation prevails in Venezuela, where in addition to the 3,000 legal Colombian refugees the number of clandestine refugees could total more than 150,000, according to figures provided to Efe by the UNHCR office in the Venezuelan border state of Tachira.

And the lack of border control is even worse in Panama - which has 1,200 refugees, according to official figures - because of the thick swampland and forest that separates the two countries.

Some 850 Colombians - many of them Indians - have been stranded for more than 10 years in the jungle-shrouded Darien region after fleeing massacres in the northwestern province of Choco, although they were awarded refugee status in recent months.

“Finally they’ll be able to move around legally in Panama, they’ll have access to health care and education,” Fontanini said, calling that humanitarian action by the Panamanian government “a great step.”

The flood of refugees and forcibly displaced people shows no sign of abating, according to the UNHCR, which cites on its Web site the “proliferation of illegal armed actors, many closely linked to illicit drug trafficking and organized crime” despite the “demobilization of paramilitary groups” in recent years.

In addition to those displaced by fighting between the army and the Revolutionary Armed Forces of Colombia, or FARC, guerrilla group, or among rival drug gangs, many rural Colombians have been turned into refugees by thugs working for business interests seeking control of land or resources.

Read more by HS News Staff →

Mitt Romney Promises Latino Forum He’ll Have his Own Immigration Plan

Mitt Romney Promises Latino Forum He’ll Have his Own Immigration Plan

Photo: Mitt Romney Promises Latino Forum He'll Have his Own Immigration Plan

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Presumptive Republican presidential nominee Mitt Romney promised Thursday before a Latino forum his own immigration plan to replace the provisional measure announced last week by President Barack Obama.

Speaking in Orlando to the annual conference of the National Association of Latino Elected and Appointed Officials, or NALEO, Romney accused Obama of political opportunism when he suspended the deportation of certain undocumented students.

“Some people have asked if I will let stand the president’s executive action. The answer is that I will put in place my own long-term solution that will replace and supersede the President’s temporary measure,” the former Massachusetts governor said.

Obama’s order will benefit at least 800,000 undocumented students who arrived in the United States when they were minors, and who will be able to obtain a renewable temporary work permit valid for two years. The measure, however, does not offer a path to legalization.

Romney made his announcement to NALEO one day before Obama will speak to the same association, while Republicans and Democrats actively court the slightly more than 12.2 million Hispanics expected to go to the polls on Nov. 6.

Romney kicked off his speech with his known talking points denouncing Obama’s economic record, recalling that the unemployment rate among Hispanics stands at around 11 percent, three percentage points above the national average, and that 2 million more Hispanics have joined the ranks of the poor since 2009.

Obama waited 3 1/2 years to offer this immigration relief because, for electoral reasons, he felt “an overwhelming need to do what he could have done on Day One,” the Republican said.

“As president, I won’t settle for a stop-gap measure,” Romney vowed. “I will work with Republicans and Democrats to find a long-term solution. I will prioritize measures that strengthen legal immigration and make it easier. And I will address the problem of illegal immigration in a civil but resolute manner. We may not always agree, but when I make a promise to you, I will keep it.”

This is the first time that Romney has presented details of a plan for immigration reform, one that includes strengthening border security and the extension of visas for foreigners with needed skills and for workers in the fields of agriculture, tourism and services.

His plan would permit the legalization of undocumented students who serve in the military.

In any case, much of his plan was already part of the reform that was blocked in Congress in 2007 for lack of consensus.

The Obama campaign team recalled that during the GOP primaries, Romney promised to veto the DREAM Act for the legalization of undocumented students if Congress should approve that legislation.

Other pro-reform groups said that Romney also supported the “self-deportation” of the undocumented and believed that Arizona’s harsh SB 1070 immigration law should serve as a model for the rest of the country.

A recent NBC/Telemundo/Wall Street Journal poll showed Obama leading Romney among Latinos by 61 percent to 27 percent.

Read more by HS News Staff →

Pemex Covers Expenses and Investments By Selling $1.75 Billion in Bonds Internationally

State-owned Petroleos Mexicanos, or Pemex, said it sold $1.75 billion worth of bonds on the international market, raising funds that will be used to cover operating expenses and investment.

The bonds mature in June 2044 and have a coupon of 5.5 percent, Pemex, the world’s No. 4 producer of crude, said.

The bonds were purchased by investors, including pension funds, mutual funds and financial institutions, in the United States, Europe and Asia, Pemex said.

The bond issue was handled by Barclays, JP Morgan and Santander, with BBVA serving as joint lead underwriter, Pemex said.

Pemex had total debt of $55.95 billion at the end of 2011, with long-term instruments accounting for 85.9 percent of the total.

Read more by HS News Staff →



FridayJune 22, 2012