Coyotes Openly Do Business in Mexico
Sidling up to migrants who arrive at the Tijuana airport and cruising the streets in border towns, coyotes in gold chains and dark sunglasses openly find customers for nightly scrambles across the U.S. border.
Mexicos president offered to crack down on smuggling at a recent summit with President Bush. But close to 100 smuggling gangs are still operating, government officials say, in plain sight of Mexican law enforcement.
While drug smugglers are invisible for the most part, people smugglers are visible, working right in front of authorities, said Tijuana border expert Victor Clark, who has studied the illegal trade for decades.
Smuggling people into the United States from around the world has become a $10 billion-a-year industry, according to U.S. Immigration and Customs Enforcement officials. Global crime networks use Mexican smugglers to sneak in Cubans, Brazilians, Iraqis, Africans and Chinese, according to Interpol, the international police network.
More: abcnews.go.com
Zoologico Los Coyotes
Mexico leftist: Banks, business leaders a "mafia"
The leftist front runner to become Mexico's next president said its top business leaders and bankers make up an elite "mafia" that has cozied up to government to win favors at the expense of the masses.
Andres Manuel Lopez Obrador delivered the scathing attack during his morning television show on Monday and in a weekend campaign swing among peasants in the Gulf state of Veracruz, in a departure from his earlier conciliatory attitude toward big business.
"We face a mafia, a gang, people who have dedicated themselves to taking advantage of the government and putting it
Six years after buying U.S. copper giant Asarco and its prized Peruvian assets, Grupo Mexico might opt to sever links with its U.S. unit and end fights with its feisty union.
With all 1,500 unionized workers at Asarco on strike alleging "bad faith" contract negotiations by the company and both sides not even in talks, analysts say Grupo Mexico could turn its back on its troubled U.S. operations.
The Mexicans have openly said they are considering asset sales at Asarco, which Grupo Mexico bought for more than $2 billion in 1999, an acquisition that almost sank the company when copper prices then
Mexico deal to kickstart Dr Reddy’s CPS foray
Dr Reddy’s Laboratories’ $59m acquisition of Roche’s active pharmaceutical ingredients (API) business in Mexico has helped the domestic pharma major jump-start its plans for the custom pharmaceutical services (CPS) business.
The CPS business involves providing solutions to innovator pharmaceutical companies right from the time a potential drug molecule is in the research stage till the product reaches the market.
The company forayed into the CPS space recently and this business contributes to about $10m of its total revenue of $446m. The acquisition provides an opportunity for the company’s CPS business to grow ten
Mexico should enact immigration reform
MEXI-CO President Vicente Fox has spent much of his international political capital fighting the U.S. House bill passed last December that proposes felon status for illegal immigrants in the United States.
Too bad illegal immigrants in his own land - mostly Central American migrants on their way to the United States - are already treated as criminals. Under a 32-year-old Mexican law, people who have crossed into Mexico illegally can be penalized with two to five years in prison, although the punishment is rarely imposed.
Three legislators, all members of Foxs National Action Party, are working
General Cable Acquires Mexico-Based Business
General Cable Corp., a leading global supplier of wire and cable products for the energy, specialty, industrial, and communications markets, announced Friday that it has acquired Beru S.A. de C.V. (Beru) based in Cuernavaca, Mexico. Beru operates an automotive aftermarket assembly and distribution operation with annual revenues of approximately $7 million per year.
"The acquisition of Beru is part of our ongoing strategy to support our customers' planned growth initiatives in the expanding Mexican automotive aftermarket. Beru brings to General Cable a profitable, low-cost assembly operation and available capacity to support this growth," said Roger Roundhouse, vice
UPDATE 1-Bank of America sells Mexico asset management firm
Bank of America Corp. (BAC.N: Quote, Profile, Research) said on Thursday it will sell its asset management business in Mexico to Grupo Financiero Santander Serfin, the Mexican subsidiary of Madrid-based Grupo Santander (SAN.MC: Quote, Profile, Research)(STD.N: Quote, Profile, Research).
Terms of the deal, expected to close no later than the end of first-quarter 2006, were not disclosed. The Mexico business has about $1.8 billion under management.
Bank of America said it decided to sell the business because it did not have sufficient synergies with the company's corporate and investment banking and cash management businesses
Mexico may open niche for private business
Mexico has edged closer to opening a narrow loophole in its legal framework to allow natural gas exploration and production by private companies. But the opening in Pemex's monopoly over gas rights applies only to Mexican coal mining companies.
Mexico's Chamber of Deputies overwhelmingly approved changes to the constitution recently to allow coal mining companies to explore for and produce coal bed methane. The initiative, proposed in 2003, was revived after methane gas apparently caused an explosion in a coal mine in northern Mexico last month, killing 65 miners.
"The reforms apply to coal producers, and
Mitsubishi to Build Power Plant in Mexico
Mitsubishi Corp. of Japan signed a contract to build a $611-million coal-fired power plant for Mexico's government-owned electricity company.
The plant will have the capacity to generate 651 megawatts of power and will take three years and eight months to complete, the Federal Electricity Commission said.
Mitsubishi will begin construction on the plant, in the southern state of Guerrero, on May 31, the commission said.
Soure: latimes.com
Mexico's Ambassador Visits Utah
Local Business Leaders Hope To Have Dialogue On Immigration Issues
SALT LAKE CITY Some Utah business leaders hope the visit by Mexico's ambassador to the US will spark some dialogue on immigration issues.
Ambassador Carlos de Icaza is expected to meet with business leaders at a luncheon on Thursday. Friday, the ambassador will meet privately with the Governor and legislative leadership.
Joe Reyna, chairman-elect of the Utah Hispanic Chamber of Commerce, says Icaza's visit is likely a prelude to a visit by Mexican President Vicente Fox. He says when an ambassador from a country like Mexico comes to
