Caribbean Business articles from February 1992

Caribbean Business archives from February 1992

No sale: consumers confused by erratic economy. (Cover Story)
February 6, 1992... Consumers are keeping their wallets and purses so tightly closed that not even the joy of holiday giving could pry them open. At least that is the impression on the majority of retailers interviewed by CARIBBEAN BUSINESS. All evidence points to...

Eximbank to finance export of P.R. products. (Export Import Bank of the United States)
February 6, 1992... The Export Import Bank of the United States (Eximbank) has reached an agreement with the Puerto Rico Economic Development Administration (Fomento) and the Economic Development Bank for Puerto Rico (EDB) to finance the export of products and...

P.R. bonds on hold pending budget deficit.
February 6, 1992... The Commonwealth's budget crisis is forcing a delay of several government bond issues until March at the earliest, since local authorities do not want the looming $256 million deficit to affect the rating and the performance of the bonds. ...

PREPA plans $90M power plant for Arecibo. (Puerto Rico Electric Power Authority)
February 6, 1992... Proposed electric project to produce 200 megawatts daily; 3 firms interested in supplying power generating equipment The Puerto Rico Electric Power Authority (PREPA) is planning to build a 200-megawatt electric power plant in Cambalache,...

Seedman's, N.Y. dept. stores CEO bows out. (NYTSA Acquisition Co., Ronald DeFusco)
February 6, 1992... Ronald DeFusco, CEO and chairman of the board of NYTSA Acquisition Co., holding company of Seedman's and New York Department Stores, has left the 16-store chain, a top retail industry executive told CARIBBEAN BUSINESS. As of Jan. 31,...

Novoste opens venture capital fund in P.R.
February 6, 1992... Novoste Corp. has opened a venture capital fund on the island, the Novoste Single Purpose Investment Fund Inc., to raise equity capital to finance an expansion of the company's medical instruments production in Aguadilla. The fund is being...

TradeWinds Airlines files for Chapter 11. (TradeWinds Airways Ltd.)
February 6, 1992... Tradewinds International Airlines (formerly Wrangler Aviation) has filed for Chapter 11 reorganization under the U.S. Bankruptcy Code. The company is involved in a legal controversy involving its former president who was fired last year. ...

Mixed results for industry on 24-A, 3582.
February 6, 1992... While everyone is cheering higher maximum interest rates, thrifts, small banks, brokers complain of 3582 |sacrifice' The island's financial industry got a mixed bag last week from the Commonwealth Finance Board's final ruling on Regulation...

From Santander Fed to Santander National.
February 6, 1992... Move shrinks P.R. thrift industry; bank targets commercial lending; raises $50M in capital notes from 936 companies It finally happened. Almost two years from the March 1990 date of its initial application, Santander Federal Savings Bank...

Caribbean heads of state to discuss tourism.
February 6, 1992... CARICOM summit to talk joint tourism promotional efforts; stats say industry nets most foreign dollars, creates jobs The tourism industry will be the focus of the Caribbean Community (CARICOM) heads of government meeting to be held in two...

More than 1,000 tourism pros meet in Aruba.
February 6, 1992... Caribbean Hotel Association Market Place forum for P.R. tourism industry, mainland wholesalers, tour operators An estimated 1,000 travel and tourism professionals met on the island of Aruba with hoteliers from throughout the region, Jan....

Bahia Beach resort mired in $40M lawsuit. (Bahia Beach Plantation Resort)
February 6, 1992... Advisors Investment Group Inc., after attempting to buy, charges owners with breach of contract and double dealing As CARIBBEAN BUSINESS first reported on Aug. 29, 1991, the deal to sell the Bahia Beach Plantation Resort property in Rio...

HUD offers HOPE home ownership programs. (Department of Housing and Urban Development, Home Ownership and Opportunities for People Everywhere)
February 6, 1992... Conditions of public housing in P.R. to be less troubled with program that aims to make maintenance more efficient Despite the "severely troubled" conditions of public housing in Puerto Rico, the HOPE home ownership programs offered by the...

Probe puts Arochem power plant on hold.
February 6, 1992... Allegations of fraud involving top officials of Arochem Corp. have put in jeopardy the company's plans to build a multimillion-dollar electrical power and steam generating (cogeneration) plant in Penuelas, Puerto Rico. Arochem operated an...

Plaza Del Caribe Mall to open on schedule.
February 6, 1992... Leasing of the 700,000-square-foot Plaza Del Caribe Mall in Ponce, scheduled to begin operating in September, is going according to plans, according to Gladys Torres Vega, in-house counsel and leasing coordinator of Plaza Las Americas Inc., a...

Ballester Hmnos. sues Campbell for $55.3M. (Ballester Hermanos Inc.)
February 6, 1992... Ballester Hermanos Inc. has filed a $55.3 million lawsuit with the U.S. District Court for the District of Puerto Rico against the New Jersey-based Campbell Soup Company for breach of distribution contract and damages under Law 75. The claim...

Plaza Las Americas expansion about to begin.
February 6, 1992... A Plaza Las Americas expansion project, initially slated for spring 1991, is finally about to begin in the next few days. The project is scheduled to be completed one year after the starting date. According to Gladys Torres Vega, in-house...

Fuel tax, rising costs worry ship operators.
February 6, 1992... Cruise ships plan to refuel elsewhere if tax is imposed; increase in harbor pilot fee contributes to rising costs A Puerto Rico Treasury Department (Hacienda) proposal to impose a six-cent tax on marine fuel would deal a devastating blow to...

Accidental espionage: who else is on the line?
February 6, 1992... You do not have to be the President of the United States or the Prime Minister of Great Britain to have to worry about what you say over the telephone. Eavesdropping -- both accidental and intentional -- is much more common than many people...

FAX-9 inaugurates three P.R. locations.
February 6, 1992... Island branches of public fax service network open shop in Moscoso stores in El Senorial, Trujillo Alto, Dorado FAX-9, a facsimile service franchise, recently inaugurated its first three Puerto Rico locations, all of which automatically...

Equal access in U.S.V.I. to begin Feb. 28. (United States Virgin Islands)
February 6, 1992... Ballot process to use procedure similar to 1990 in P.R.; simultaneous conversion of all 48,000 lines set for May 31 As the equal access process in the U.S. Virgin Islands gets closer to takeoff, long distance carriers are being informed...

Beeflover is moving to Costa Brava site. (Beeflover Restaurant, Costa Brava Restaurant)
February 6, 1992... Restaurant to relocate operation to facilities it bought recently and is remodeling on Roosevelt Ave. in Hato Rey Beeflover Restaurant has purchased the assets of the Costa Brava Restaurant in Hato Rey on Roosevelt Avenue for an undisclosed...

Cash & carries band together to form Union.
February 6, 1992... Co-operative will offer its 11 charter members increased competitive edge, better buying power, joint advertising A group of 11 local cash & carry operations have joined forces under the Union trade name to increase their purchasing power...

Human resources society swears in the new president. (Society for Human Resources Management, Fernando Espinosa)
February 6, 1992... Fernando Espinosa of ConAgra expounds on goals for coming term in office, underscores importance of global awareness The Society for Human Resources Management (SHRM) recently swore in its new president, Fernando Espinosa, who is currently...

Leo Burnett's wisdom still spells success.
February 6, 1992... Principals set down by founder in 1935 resulted in global billings of $3.6B in |90, P.R. billings of $26M last year The year 1991 was tough on the advertising industry, leading many to think it would continue this way for a long time....

Prospects increase for a lasting recovery, consumer confidence. (Special Feature - Economic Outlook 1)
February 6, 1992... In our quarterly economic column of August 1990, we said that trying to forecast at that time where the U.S. economy or the Puerto Rico economy would be going was impossible. There were too many dark clouds and too much stormy weather -- a...

U.S. has been plundered from within. (Special Feature - Economic Outlook 1)
February 6, 1992... Here's a have-you-ever-wondered question for you. Government, government expenditures, and government borrowing are higher at all levels than they've been in the history of the United States. Despite these record expenditures, however, we...

Island's economy just holding on, awaiting recovery in States. (Special Feature - Economic Outlook 1)
February 6, 1992... A little more than a month into the new year, the outlook for the economies of Puerto Rico and the U.S. mainland has not been altered much since year end. The consensus among economists and business leaders remains that both economies will...

Restaurant Du Port: cruising into the good life. (The Chef's Table)
February 6, 1992... The next time you are cruising about in your yacht in the Fajardo area around lunch or dinner time, slip into Puerto del Rey Marina where the food is good and the living is easy -- at Restaurant du Port. If your yacht is being refurbished,...

Eating 'out in the island' without leaving town. (Casa De Campo restaurant)
February 6, 1992... If you have resisted joining the weekend exodus from San Juan to restaurants out on the island because (A) you hate long drives and mountain roads, (B) when you get there the restaurants weren't worth it, or (C) all of the above, you may very...

Holding back. (Puerto Rican economy) (Editorial)
February 6, 1992... Like a bad dream, most retailers in Puerto Rico would just as soon forget the recent holiday shopping season. The official year-end numbers on retail sales should be out soon from the Commonwealth Department of Commerce, but most retailers...

Stock market prediction for 'Year of the Monkey.'
February 6, 1992... Okay, folks, here it is -- the one newspaper column each year that really tells you where the stock market is going. Here's your chance to save hundreds, if not thousands of dollars that otherwise would be wasted seeking the views of...

Nanny syndrome is crushing freedom in U.S.
February 6, 1992... A funny thing happens in America. Bureaucrats or politics come up with a nice bit of sophistry to justify a spending increase, a bureaucratic expansion, or an encroachment on liberty and before you know it, the special-purpose piece of...

Capital punishment and 'rights of the unborn.'
February 6, 1992... WASHINGTON -- Picture this: A coldblooded, hardhearted thug stabs and kills two innocent young children, is tried and convicted, and now sits on death row awaiting society's ultimate retribution. But he longs to perpetuate his family name...

Group raises funds for needy, AIDS victims. (Puerto Rico Foundation for Health & Well Being)
February 6, 1992... Foundation holds lotto with goals of collecting $50,000, refrigerated van for Caribbean Food Bank's perishables The Puerto Rico Foundation for Health & Well Being, a non-profit organization established in 1989, has initiated a new...

Prospects for El Conquistador brighten. (financing search for the El Conquistador Resort and Country Club project)
February 6, 1992... Government Development Bank meets with Mitsubishi Bank, Williams Hospitality, to come up with package to save project After an all day marathon session on Monday, the El Conquistador Resort & Country Club is expected to receive badly needed...

Section 936 and the 1992 Congress; how will it fare? (Section 936 of Internal Revenue Code)
February 13, 1992... Is Section 936 once again the lamb ready for slaughter in Washington? If it is up to knife-wielding Congressmen Stark, Schulze, Kostmayer, Pryor and a few dozen others, the answer could very well be yes. All signs point to another year of...

Higher repatriations to help close deficit; Hacienda said to be considering legislation to change way 936 companies are taxed and to increase repatriations. (Puerto Rico Treasury Department)
February 13, 1992... The Puerto Rico Treasury Department (Hacienda) is negotiating with 936 companies to increase sharply the repatriation of 936 profits and thus raise tollgate tax income to help close the Commonwealth government's $339 million budget deficit,...

March deadline set for LMM airport hotel; ports authority delivers ultimatum to developers to begin construction of facility or agency will take over project. (Luis Munoz Marin International Airport)
February 13, 1992... Ports Authority delivers ultimatum to developers to begin construction of facility or agency will take over project Developers of the proposed 240-room hotel at the Luis Munoz Marin International Airport (LMM) have until March to begin...

Novatek gets financing from Eurobank, EDB; P.R. firm secures $10 million in manufacturing contracts; has begun electronic production with 65 workers in Cayey. (Novatek Manufacturing Corp.; Economic Development Bank for Puerto Rico)
February 13, 1992... P.R. firm secures $10 million in manufacturing contracts; has begun electronic production with 65 workers in Cayer Novatek Manufacturing Corp., a P.R. capital company specializing in contract manufacturing of electronic equipment, has...

Parque Forestal residents press their case; group refuses to accept $760,000 offer made by Oriental to settle out of court over alleged construction defects. (Oriental Federal Savings Bank)
February 13, 1992... Group refuses to accept &$760, offer made by Oriental to settle out of court over alleged construction defects Residents of the Parque Forestal residential development in Rio Piedras are pressing ahead with their case against Oriental...

Three more venture capital funds approved; approval raises total funds licensed at the end of 1991 to 7; commissioner Sosa may extend venture capital law till '96. (Jose Sosa)
February 13, 1992... Approval raises total licensed at end of 1991 to 7; Commissioner Sosa may extend venture capital law till '96 The list of new local venture capital funds licensed at the close of 1991 continues to grow. Financial Commissioner Jose Sosa told...

P.R. solar-powered car heads for Expo '92.
February 13, 1992... The Shining Star of the Caribbean, the first solar-powered automobile designed and built in Puerto Rico, will be exhibited at the Expo '92 Energy Pavilion in Seville, Spain. The solar-powered vehicle was designed and built in 1990 by a...

Angel Alvarez buys more 1st Federal stock. (First Federal Savings Bank)
February 13, 1992... CARIBBEAN BUSINESS has learned that the president of First Federal Savings Bank, Angel Alvarez, has raised his ownership of the bank's stock in recent weeks from 2.95% to about 4%. "I'm optimistic about this institution," Alvarez told...

Officials seek to ease bite of 3582 rule; government considering suggestions from banking industry on ways to soften impact of 5% 936-funds investment rule.
February 13, 1992... Government considering suggestions from banking industry on ways to soften impact of 5% 936-funds investment rule Commonwealth government officials are busy looking for ways to ease the impact of the new 936 investment requirement to be...

Banco Central issues $75M in capital notes; infusion to increase the bank's capital ratio to 12.7% of assets; Santander Federal, Ponce Federal issue notes.
February 13, 1992... Infusion to increase the bank's capital ratio to 12.7% of assets; Santander Federal, Ponce Federal issue notes Banco Central Corp. is in the midst of raising $75 million in capital from 936 companies on the island. The bank began selling...

Guarantee fund to help 936 loans in region; GDB, Carifa, 936 companies to join forces in an estimated $12 million fund designed to help mostly small regional projects. (Government Development Bank for Puerto Rico; Caribbean Basin Financing Authority)
February 13, 1992... GDB, Carifa, 936 companies to join forces in an estimated $12M fund designed to help mostly small regional projects The Commonwealth government is putting together a fund to guarantee 936 loans in the Caribbean. The fund is designed to fill...

Boehringer Mannheim set to grow in P.R.; firms Ponce plant to export to Germany and sell locally; Puerto Rico operations could be expanded in near future.
February 13, 1992... Firm's Ponce plant to export to Germany and sell locally; Puerto Rico operations could be expaded in near future Boehringer Mannheim America Ltd. is seeking to establish a more visible presence in Puerto Rico and to expand the role of its...

Fomento makes staff changes; Bernardo Medina will direct Fomento Film Institute; Soraya Sesto will direct Los Angeles, Calif. office. (Puerto Rico Economic Development Administration)
February 13, 1992... The Puerto Rico Economic Development Administration (Fomento) recently made some personnel changes and appointments at its New York and San Juan offices. Fomento Administrator Alfredo Salazar Jr. has named Bernardo Medina as director of...

Northeastern Corridor slump affects P.R.; although hotel occupancy rates report slight increase over last year, they have yet to match the 80.9% in '90.
February 13, 1992... Although hotel occupancy rates report slightly increases over last year, they have yet to match the 80.9% in '90 The severe recession affecting the Northeastern U.S. continues to be felt in Puerto Rico during the 1992 winter tourism season....

Hyatt Caribbean weathers the economic storm; beyond Cerromar and Dorado Beach in P.R., chain also has successful presence in Aruba, Cayman, St. John, Key West.
February 13, 1992... Beyond Cerromar and Dorado Beach in P.R., chain also has successful presence in Aruba, Cayman, St. John, Key West In spite of the difficult times endured by the tourism industry over the past year and a half, Hyatt Resorts Caribbean stands...

McCaffrey & McCall to market Caribbean; N.Y.-based advertising agency to create $15m campaign including TV, print ads, direct marketing to sell region.
February 13, 1992... N.Y.-based advertising agency to create $15M campaign including TV, print ads, direct marketing to sell region New York-based advertising agency McCaffrey & McCall has been selected to handle the first regional tourism campaign, which will...

CostaClassica sets sail for Caribbean. (cruise ship)
February 13, 1992... On Feb. 3, Costa Cruise Lines' elegant replacement for the venerable Carla C, the CostaClassica, berthed in San Juan for the first time during its maiden voyage from its home port in Ft. Lauderdale, Fla. The 1,300-passenger, $325 million...

Campbell reaffirms commitment with Casera; despite $55.3M Ballester suit over severed distributorship, firm sees Casera as key to U.S. Hispanic market penetration. (Campbell North and South America; Casera Foods)
February 13, 1992... Despite $55.3M Ballester suit over severed distributorship, firm sees Casera as key to U.S. Hispanic market penetration Only a few days after the U.S. District Court for the District of Puerto Rico issued a temporary restraining order to...

Xtra poised for decision on land dispute. (Pueblo Supermarkets)
February 13, 1992... For more than a year, Pueblo Supermarkets has been patiently waiting for a boundary dispute to be settled that has delayed the opening of its new Xtra super food store in the $18 million Plaza Guayama Mall. In the meantime, the supermarket...

January bankruptcies down 5% from last year; sharpest drop was in Chapter 11 corporate reorganization; Chapter 13 personal cases, noncorporations held steady.
February 13, 1992... Sharpest drop was in Chapter 11 corporate reorganization; Chapter 13 personal cases, noncorporations held steady The total number of bankruptcies filed with the U.S. Bankruptcy Court for the District of Puerto Rico during the first month of...

N.Y. Dept. Stores confirms CEO's leaving. (Ronald DeFusco)
February 13, 1992... The board of directors of New York Department Stores of Puerto Rico Inc., holding company of New York Department Stores and Seedman's, has issued an official release confirming Ronald DeFusco's resignation as chairman of the board and CEO of...

Taino-Carib fiber-optic cable on the way; AT&T Submarine Services given $17M construction contract; cable to connect P.R. with St. Thomas, Tortola, Venezuela.
February 13, 1992... AT&T Submarine Services given $17M construction contract; cable to connect P.R. with St. Thomas, Tortola, Venezuela Construction of the Taino-Carib system, a fiber-optic cable system that will connect Puerto Rico, St. Thomas and Tortola, is...

U.S.V.I. equal access participants announced; seven major long distance carriers have signed up in time for their company name to appear on the selection ballots. (Virgin Islands)
February 13, 1992... Seven major long distance carriers have signed up in time for their company name to appear on the selection ballots Officials of Vitelco, the telephone company of the U.S. Virgin Islands (U.S.V.I.), recently announced the participants in...

Air monitoring systems to debut in P.R.; Sound Aire System selects island as one of first markets for office, industrial air quality monitoring equipment.
February 13, 1992... Sound Aire Systems selects island as one of first markets for office, industrial air quality monitoring equipment Sound Aire Systems Inc. will soon begin to market its fully computerized air monitoring system in Puerto Rico. The New...

Alive but not well. (industry suffers during recession) (Special Report: The Ornamental Plant Industry in Puerto Rico)
February 13, 1992... Not so many years ago, Puerto Rico was one of the main suppliers of ornamental plants to the U.S. mainland. In fact, business with the States was doing so well, that many farms relied solely on it for their profits. Things are not the same...

Orchids are unique among ornamental plants. (Special Report: The Ornamental Plant Industry in Puerto Rico)
February 13, 1992... Orchids are in a category by themselves within the ornamental plant business. Most growers who produce other types of ornamental plants at a commercial scale usually stay away from orchids and vice versa. This is because the care that...

CNA's new name is Integrand Assurance Co. (CNA Casualty of Puerto Rico Inc.)
February 13, 1992... Change last step in contract made when Victor J. Salgado purchased interest held in P.R. subsidiary by its parent CNA Casualty of Puerto Rico Inc., one of the leading property insurers on the island, has changed its corporate name and logo...

New branch of Institute of Packaging Professionals sets goals.
February 13, 1992... The new Caribbean regional chapter of the Institute of Packaging Professionals (IoPP), formed late last year on the island, is working on its first annual program. "Our goal is to do the same here as the national organization does in the...

Flexible Packaging makes packaging materials at 3 P.R. plants.
February 13, 1992... The Flexible Packaging Group includes three manufacturing plants of packaging materials on the island: in Caguas, Aguadilla and Bayamon. CARIBBEAN BUSINESS talked with Carlos A. Casellas, president of the group at Interplast Inc., the...

ALPHA Caribe began making plastic bottles in P.R. 14 years ago.
February 13, 1992... Possibly one of the largest plastic bottle manufacturers on the island is ALPLA Caribe Inc. near Guayama on Highway 3. ALPLA has been manufacturing bottles for 14 years on the island. Three years ago, it moved from its leased Pridco (Puerto...

Bradford introduces antistatic cushioning for circuit boards. (Bradford Company)
February 13, 1992... At the Puerto Rico Industrial Manufacturing Electronics/Electrical Show (PRIME), held Jan. 31-Feb. 1, at the Caribe Hilton Hotel, the Bradford Company brought out its latest cushioning product ESD Windows. The new package is designed to...

Yanber and Superior make plastic liners for industry. (Yanber Industrial Packaging Corp.; Superior Packaging Inc.)
February 13, 1992... Manuel Quintana Puente doesn't leave his office on Mondays. "That's panic day," he said. "That's when our manufacturing clients discover they are either low on or have run out of plastic liners, which threatens their production." As...

P.R. occupational committee computerizes. (Puerto Rican Occupational Coordinating Committee)
February 13, 1992... Electronic job counseling program helps students to make career choices, self-analysis, even interviews by computer The Puerto Rico Occupational Information Coordinating Committee recently introduced the Opciones occupational program....

Compaq notebook computers debut. (Compaq Computer Corp.) (Product Announcement)
February 13, 1992... Compaq Computer Corp. recently introduced Compaq LTE Lite/25 and Lite/20, two new personal computers (PC) based on Intel's 25 and 20 megahertz (MHz) microprocessors that offer high performance and feature a smaller, lighter notebook design. ...

Foote, Cone & Belding optimistic about '92.
February 13, 1992... In 1969, mankind made its mark on the moon; the Concorde took off on its maiden voyage; the first artificial heart was implanted; and the New York Mets won their first World Series playing against the Baltimore Orioles. Great things were...

Nexus launches Seguros Multiples campaign. (Communicadora Nexus; Cooperativa de Seguros Multiples de Puerto Rico)
February 13, 1992... Comunicadora Nexus recently launched a new campaign for Cooperativa de Seguros Multiples de Puerto Rico with an ad entitled "As fast as it happens, we're on the way" (Tan rapido como sucedio. Asi te respondemos"). The campaign will appear...

P.R./N.Y. merger creates Cadilla/DMB&B. (advertising agencies)
February 13, 1992... The recent merger between local advertising agency Ulises Cadilla and the New York-based D'Arcy, Masius, Benton & Bowles (DMB&B), is anticipated to open up new markets and resources for the Puerto Rico firm. The new agency will be called...

A rush to action. (Puerto Rican investment policy) (Editorial)
February 13, 1992... Puerto Rico has used Section 936 of the U.S. Internal Revenue as a key tool to encourage U.S. corporations to set up subsidiary operations on our island. Section 936 has been very effective for us. However, with the U.S. Treasury...

What may be the real question in 1992 presidential election.
February 13, 1992... Does the national Democratic Party have a death wish on economic policy? That may be the real question in the 1992 presidential election, as an obviously weakened President Bush faces an opposition that can't decide whether it wants to...

We must change lifestyle to save planet.
February 13, 1992... The middle of a recession is an awkward time to bring it up, but we're going to have to learn a third alternative to recession or unrestrained industrial growth if we want to sustain life on this planet. Easy enough to forget in this urban...

Why traditional banks are a thing of the past.
February 13, 1992... What does it take to run a successful business? Brains, profit, a little humility - as anyone can see who looks at the dunce-caps and the gold-star winners in banking. Citicorp, America's largest bank, announced Tuesday that it lost $457...

Tidewater merges with Zapata Gulf Marine. (shipping carriers)
February 13, 1992... Tidewater Inc. of New Orleans, La. has concluded its merger with Zapata Gulf Marine Corp. The merger makes Tidewater Inc. the majority stockholder in Marine Transportation Services Sea-Barge Inc. (Sea-Barge), the fourth-largest ocean carrier...

Fading dreams: tourism projects hit a losing streak. (Puerto Rico's hotel industry's expansion program's downtrend) (Industry Overview)
February 20, 1992... Despite years of hard work and dedication by Miguel A. Domenech and his staff at the Puerto Rico Tourism Company, the dream of expanding the island's hotel industry is beginning to fade. Indeed Puerto Rico has 1,230 fewer rooms today than it...

Pridco to open La Guancha on schedule. (Puerto Rico Industrial Development Co.; La Guancha Hotel)
February 20, 1992... Hotel developers in Puerto Rico have learned over the past four years that attempting to build a tourism project on the island has proven, with few exceptions, to be a near impossible task. The extremely complicated permit process - involving...

Telefonica de Espana, TLD deal takes form. (acquisition of Telefonica Larga Distancia)
February 20, 1992... Employees to be granted $2.8 million worth of shares; none will be fired because of sale or lose pension plan As reported in CARIBBEAN BUSINESS Jan. 16 issue, Telefonica Larga Distancia (TLD) is to be acquired by Telefonica de Espana S.A....

Looking at the long run. (Jaime Fonalledas, president of Plaza Las Americas Inc.) (Top 10 Business Leaders of Puerto Rico: 1991)
February 20, 1992... Jaime Fonalledas, president of Plaza Las Americas Inc., Tres Monjitas dairy and more than 40 other companies, is a man more inclined to talk about how he feels about his more than 800 employees than about what he did to maintain his companies'...

How to motivate a sales force is a common management problem. (Salesperson's Week)
February 20, 1992... Other than those who study motivational problems, there is probably no group more concerned with motivation than company executives, managers and supervisors. A common question is: "How do I motivate my people?" Motivation is the intention...

Threats to computers spur hot new industry. (computer virus and outages)
February 20, 1992... When you and I get a virus, we call the doctor. But when a company's information services get sick, it calls in the computer cops - the faster the better. Computer outages, malicious and otherwise, have become a bane of our electronic...