PRNewswire - Rollins Inc. announced that the company, through its wholly-owned subsidiary Orkin, has established an international franchise in Mexico City. This marks the company's 19th international franchise worldwide.
Dow Jones – Mexican President Felipe Calderon Tuesday told the U.S. Chamber of Commerce in Washington that the "end of the tunnel" on the global financial crisis is in sight, with hopes that G 20 leaders can reach a deal on boosting IMF resources.
Bloomberg - Ener-G Holdings, a U.K. renewable-energy developer, completed Mexico’s first plant that captures and converts landfill gases into electricity that’s sold to a Nissan Motor Co. factory in Aquascalientes.
redOrbit - Satellites continue to provide a look at the ash and gas clouds emitted from the Popocatepetl volcano. Most of the time, winds carry the debris far to the east in the mornings, while daily rains bring down the ash in the afternoon.
UPI - The White House is working with lawmakers on legislation needed to work with the Mexican government on oil reserves in shared waters. U.S. Department of Interior Secretary Ken Salazar said a bill is being formed on an transboundary agreement.
Bloomberg - Telefonos de Mexico, the fixed-line unit of America Movil, reported a 7.3 percent decline in first-quarter profit after cutting fees for calls to mobile phones and spending more on its pension fund.
Dow Jones - Mexico's peso gave back early gains and closed slightly weaker Tuesday following some soft economic data in the U.S. and a dovish inflation report in Mexico. The peso closed at 13.1965 to the dollar.
By Randal C. Archibold
The New York Times
Every now and then, the health department shows up at José Luis García’s food store in an affluent neighborhood of Mexico City. García immediately reaches for his wallet.
“They first say there is some fine and then they say, ‘We can fix this another way,’ ” said García, who typically pays $50 to $100 to make the inspectors go away.
It is an article of faith in Mexico that the fastest way to resolve difficulties with a health inspector, traffic police officer or nettlesome ministry functionary is to pay a sum under the table.
A baroque bureaucracy, something economists have long warned slows the potential for growth, and low pay for public servants leads to peso-greased shortcuts for the simplest transactions.
The bigger the project, experts say, the more palms that are likely to spread open.
“Although you may have all your permits, they say you have to contribute something,” said Salvador Contreras, a contractor on an office building going up on a major boulevard. “If you do it the normal way or without paying, it can take double the normal time to do anything.”
As deep as the bribery, as well as the resulting frustration, is the acceptance. So the report in The New York Times over the weekend that Wal-Mart de México had paid bribes to speed up the expansion of its empire here and then sought to cover up the payments came as no surprise. What raised eyebrows were the amounts involved — more than $24 million — and that the surreptitious behavior, which Mexicans are confronted with on a much smaller scale in their everyday lives, was so publicly revealed.
By JP Donlon / Chief Executive
Claudio Gonzalez, 72, is one of the few remaining members of a vanishing breed of senior business figures that have won both deep respect at home and a strong international reputation abroad.
From 1973 to 2008, he served as CEO of Kimberly-Clark de Mexico and continues today as that company’s non-executive chairman. His nominal title belies his standing as the de facto voice of that country’s business community.
A graduate of Stanford University, Gonzalez is worried. The increasing tension over illegal immigration coupled with the violence stemming from the drug war threatens to derail Mexico’s attempt to attract tourists and investors alike. In an interview with Chief Executive, he shared his thinking about Mexico and U.S.-Mexico relations.
Dow Jones - The Mexican government said late Monday it sees no need to itself investigate retailer Wal-Mart de Mexico amid allegations that the company paid bribes in Mexico to speed permits for new store openings, saying the issue is a state and local matter.