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Puerto Rico
Weird as it sounds, I think Puerto Rico is the luckiest place on Earth! They foolishly ran the Navy out of Roosevelt Roads, which was the biggest employer on the island, and have been going broke ever since thanks to their communist spending plans. They've been borrowing for years to cover the losses, and then they hit a point of immanent bankruptcy.
They've spent most of the last year trying to get a bailout from Congress, but those dollars will come with strings attached, like reigning in spending, and the Puerto Rican government refuses to want conditions attached to the money, which is why they haven't gotten it. As a result their jobs are gone and their residents are leaving.
Then comes Irma and all that changes. Yeah, they have a lot of damage and a lot of inconvenience, but looking at it long term they will be getting hundreds of billions in aid that will be used to rebuild the island and put the residents back to work, which is what their government wanted.
Hopefully they won't blow this opportunity like they did with Roosevelt Roads.
They've spent most of the last year trying to get a bailout from Congress, but those dollars will come with strings attached, like reigning in spending, and the Puerto Rican government refuses to want conditions attached to the money, which is why they haven't gotten it. As a result their jobs are gone and their residents are leaving.
Then comes Irma and all that changes. Yeah, they have a lot of damage and a lot of inconvenience, but looking at it long term they will be getting hundreds of billions in aid that will be used to rebuild the island and put the residents back to work, which is what their government wanted.
Hopefully they won't blow this opportunity like they did with Roosevelt Roads.
Comments
I had a nephew who was an intern at a clinic somewhere across the island & tried to call him. The phone system wouldn't work even then.
I finally took a one dollar ride in a VW mini-bus. Blasted thing was so crowded I had to have a young lady sit on my lap all the way.
Every house I saw had bars on the doors & windows.
I went there as one of the stops on a cruise about thirty years ago.
I had a nephew who was an intern at a clinic somewhere across the island & tried to call him. The phone system wouldn't work even then.
I finally took a one dollar ride in a VW mini-bus. Blasted thing was so crowded I had to have a young lady sit on my lap all the way.
Every house I saw had bars on the doors & windows.
That's typical of all the locations south of the U.S.A. Add broken glass cemented to the top of brick walls around houses. The door locks are different, NO WAY to shut the doors w/o locking. Shut the door and w/o a key to get in,, you're SOL. Hate that, had to bring my own locks from the U.S.
From what I've seen in Houston the only thing that's different is No broken glass on the top of walls because it would invite suits. My door is metal but looks like wood, screen door is metal "wrought iron", all windows have decorative bars and so is 90% of every house around.
Richer folks have nicer looking "protection" and some have private "sheriff" patrols and barred and gated communities.
The only way you'll get away with NO BARS in the U.S. is to live in a smaller community 30+ miles away from the large cities.
It's just a tax haven for pharmaceuticals companies anyway.
Saying it's white people hating on minorities is not the cause of their problem in my opinion. It's stupid politicians propping up an unsustainable life style on an island with an infrastructure failure of making life bearable there for any sane person wishing to live there.
serf
https://www.outsourcedpharma.com/doc/puerto-rico-back-on-the-map-of-pharmaceutical-locations-0001
Puerto Rico still has a sizeable tax incentive to offer pharma. Because the Commonwealth is an independent tax jurisdiction, U.S. companies are not required to file U.S. federal tax returns. Medina provides an example: ?If a biotech goes to North Carolina, and they negotiate a 4% tax rate there, it also has to file U.S. federal tax returns. This makes the combined rate 40%, 36% federal and 4% state. If you set yourself up in Puerto Rico, and you negotiate a 4% local tax, you pay 4%. Period.? (Editor?s note: apologies to North Carolina, a great state for the biotechnology and life science industries.)