July 2011

Part 3 Flying high for the Sinaloa drug cartel

Los Angeles Times
Times were good for Carlsbad pilot John Ward as he smuggled cocaine across the U.S. for Mexico's Sinaloa cartel. But the men at the other end -- they worried him.

Taking off from Riverside County's Corona Municipal Airport at dawn, Ward could be back the next day, feeding twenties and hundreds into the counting machine at his home in Carlsbad.

Still, he had some nagging concerns. The Mexican distributors in Pennsylvania were trying to cut costs by hiring immigrant truckers to haul drugs from Southern California. And U.S. agents were keeping a close watch on traffickers.


Stocks gain at close on bargain hunting

Dow Jones - Mexican stocks closed higher on Wednesday after turning deep morning losses into afternoon gains on bargain-hunting. The IPC index rose 0.7 percent to 35,598 points as investors set aside concerns over U.S. debt wrangling and snapped up stocks.


GAP wins victory in dispute with Grupo Mexico

Sentido Comun - Grupo Aeroportuario del Pacífico (GAP) said that on July 25 a federal court of last resort upheld GAP's request for a preliminary injunction suspending certain Banking and Securities Commission actions, regarding its Grupo Mexico tender offer.


Despite violence, Mexican tourism continues to grow

CNN - Mexico's image might be taking hits because of drug cartel violence, but it hasn't hurt tourism. International tourism has increased 2.1 percent in the first five months of 2011, and it remains the top destination for Americans traveling abroad.


Tropical wave aims for Texas-Mexico region

Beaumont Enterprise - A tropical wave with a "small window" for formation into a more organized depression is expected to strike the Texas-Mexico border by Friday, a National Weather Service meteorologist said today.


Mexican police reporter found dead

Voice of America - A newspaper reporter who covered police stories in Mexico's Gulf coast state of Veracruz has been found dead. The body of Yolanda Ordaz de la Cruz, a reporter for Notiver, was discovered Tuesday. She had been missing since Sunday.


Judge sentences teen to 3 years for four beheadings

The Guardian - A Mexican judge on Tuesday sentenced a teenage US citizen to three years in prison for homicide, kidnapping and drug and weapons possession. The 15-year-old confessed to killing four people whose beheaded bodies were suspended from a bridge.


Brazil's tariffs complicate trade deal, says official

Bloomberg - Brazil’s existing tariff barriers complicate promised negotiations on a free-trade agreement with Mexico and there is no date to start formal talks, Mexico’s undersecretary of industry and commerce said.


Homex 2nd quarter profit rises 9.7 percent

Reuters - Mexican home builder Homex said its second-quarter net profit rose 9.7 percent driven by stronger sales and higher prices. Homex earned 473 million pesos ($40 million) in the April-June period, up from 431 million pesos in the same quarter last year.


Televisa reaches content agreement with Netflix

Dow Jones - Mexican broadcast and telecommunications company Grupo Televisa said Tuesday it has reached a licensing agreement to provide content for online movie and television provider Netflix Inc.