Page One Daily News - November 19, 2008

Page One Daily NewsNovember 19, 2008www.poder360.com
* US
The job is hisAs the Obama team reviews the background of former Senate Majority Leader Tom Daschle, the South Dakota Democrat has accepted the president-elect's offer as Secretary of Health and Human Services. Daschle, a close advisor to Obama throughout the former Illionois senator's White House campaign, has worked to expand health coverage and recently authored a book on the issue.
* MIAMI
Failing booming marketArt houses are showing worrisome signs as the still-unfolding financial crisis takes its toll on luxury spending. Last week, both Christie's and Sotheby's Auction Houses underperformed in their contemporary art sales leaving left almost a third of its lots unsold. This has many thinking that this year's Art Basel Miami Beach may also undersell.
* MEXICO
Head of Interpol Mexico under indictmentOperation Cleanse, which has unleashed arrests of members from the Attorney's Office Specialized in the Organized Crime Investigation unit and the Mexican Federal Preventive Police has indicted Ricardo Gutiérrez Vargas, the head of Interpol Mexico. Mr. Gutiérrez remains under preclusive arrest since Sunday. This operation targets law enforcement agents, who act as informants of organized crime.Textiles slumpThe President of the National Textile Chamber, David García Cosío, said 29,000 jobs were cut in 2008 from a total of 150,000 jobs in the textile industry. Besides being struck by the current financial crisis, the industry has faced a 78 percent increase in energy costs, which represent 30 percent of total costs for this sector.
* COLOMBIA
Obscure retail company DMG breaks downThe pyramid (Ponzi scheme) phenomenon seems to have reached a breaking point with the arrest warrant against the founder of retail holding DMG, David Murcia Guzmán, who now faces extradition from Panama to Colombia on illegal money procurement charges. The General Attorney's Office has also found evidence that would prove the illegal origin of DMG's capital. Colombian President, Álvaro Uribe Vélez, made the following remarks regarding this case: "There is evidence, which could show attorneys and judges that certain owners and promoters of these schemes where involved with fraudulent procurement, money laundering, and are related to drug trafficking."Coffee exports on the riseThe Colombian Coffee-growers Federation (Fedecafé: Federación Nactional de Cafeteros) registered coffee exports in the first nine months of 2008 reached 9.1 million sacks (60 kg. per sack). This volume of exports implies a 3 percent increase compared to the 8.9 million sacks exported in the same period of 2007.
* ECUADOR
Crisis planIn a meeting with top Ecuadorian exporters in Guayaquil the President of Ecuador, Rafael Correa, announced a plan to assure liquidity for exporters amidst the current financial crisis. President Correa said he would issue the relevant decrees and define the legal framework of this scheme next Thursday.
* VENEZUELA
Izarra vs. KrauzeA quarrel has ignited between the Venezuelan government and Mexican historian Enrique Krauze, who wrote an essay on President Hugo Chávez titled Power and Delirium (El poder y el delirio), which did not receive a warm welcome among members of the Venezuelan government. On the other hand, Andrés Izarra, Venezuelan Minister of Communications and Information, sent an email to Krauze, which included "improper terms" according to the Spanish news agency EFE. Finally, the writer said on this issue: "This confirms that tolerance is not a virtue of the regime from Hugo Chávez."DMG subsidiary is closedThe Institute for the Protection of People's Access to Goods and Services (Indepabis: Instituto para la Defensa de las Personas en el Acceso a Bienes y Servicios) closed indefinitely the subsidiary of the Colombia based retail company DMG alluding it was not operating legally in Venezuela. Eduardo Samán, President of Indepabis, said they adopted a preventive approach in accordance to the news originated in Colombia due to the pyramid and money laundering scam being indicted to DMG Colombia. However the local representatives of DMG denied any link to what is happening in the neighbor country.
* CHILE
Football enters the stock exchangeAlthough the current financial markets are struggling and face a bleak forecast, yesterday began the Initial Public Offering (IPO) of Universidad de Chile's stock (the second most popular football team in Chile). The initial uproar in which US $15 million were raised for 54% of the club was overshadowed by an 18.51% fall in the football team's stock, which is the worst closure after an IPO in the last 20 years.
* ARGENTINA
Wrong policyThe anxiety to better public funding in Argentina is turning into madness. Although the construction sector is going to suffer from the burdens of a forecasted economic slowdown, the local government in Buenos Aires designed a scheme to increase taxes on new real state projects, which could even reach 30% for high-value housing. However, due to the protests unleashed by this news the local authorities have decided to step down from this initiative.
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