Tres Amigas road dollars a good start

Clovis Media Inc. irst comes the road, then comes the superconductor power station. While development work continues to finance and design the $1.2 billion Tres Amigas plant north of Clovis, the first step of the three-phase electrical project should begin later this year. Curry County will receive $350,000 in capital funds to pay for a […]

Report: Stalled projects costing jobs, revenue

Staff and wire reports A canceled Clovis ethanol plant is among five stalled New Mexico energy projects cited as costing the state jobs and revenue in a national report released Thursday. The U.S. Chamber of Commerce says a handful of stalled energy projects are costing New Mexico billions of dollars of investment and thousands of […]

More scrutiny sought for SIC contracts

By Kate Nash: The Santa Fe New Mexican A movement this session to put more eyes on contracts issued by the State Investment Council means potential contractors could face extra scrutiny before landing deals with the state. At least one current contractor says he doesn’t mind the extra attention. Brian Birk, managing partner at Santa […]

Bill seeks more scrutiny over state contracts

By Kate Nash: The Santa Fe New Mexican Records show that a contract between the State Investment Office and an international law firm has been amended six times since 2005, boosting the original $30,000 cost to $5.8 million. The deal — which among other things calls for Paul, Hastings, Janofsky and Walker LLP to create […]

1-27 Legislative tidbits

The Santa Fe New Mexican Days remaining: 22 Investment panel to review contract: The State Investment Council on Tuesday agreed to have a subcommittee review a multi-million dollar contract with the Paul, Hastings, Janofsky and Walker law firm. As part of the contract, which is drawing scrutiny from state lawmakers this session, the firm is […]

State investment case costs rise to $517,000

By Kate Nash: The Santa Fe New Mexican The state has spent $177,211.56 on legal fees since July 2009 in an alleged pay-to-play case involving the State Investment Office and the Educational Retirement Board, according to records obtained by The New Mexican. The total spent so far is $517,014. The biggest chunk of the legal […]

Land commissioner defends request for legal fees

By Steven Terrell: The Santa Fe New Mexican State Land Commissioner Patrick Lyons, who also sits on the State Investment Council, on Monday defended the SIC’s request for millions of dollars in additional legal fees to a San Francisco law firm conducting an internal review of documents related to federal investigations of state investment practices. […]

County treasurer says she has faith in investment

By Sharna Johnson: CNJ staff writer Curry County Treasurer Bernice Baker said she has faith in a $2.3 million investment that, as of the end of December, has lost nearly $20,000 and paid almost $6,000 in management fees. At a special study session scheduled Wednesday, she plans to show the account and its losses have […]

County commission schedules meeting to discuss investment concerns

By Sharna Johnson: CNJ staff writer County commissioners have questions about a $2.3 million investment made by Curry County Treasurer Bernice Baker and have scheduled a special meeting Wednesday to examine the fund’s performance. A report compiled in December shows the investment with fund manager Macquarie Allegiance Capital lost money in its first three months […]

Overzealous lending not just in U.S.

Freedom New Mexico The announcement that Dubai World, the state-owned investment/development arm of the emirate of Dubai on the Persian Gulf, wants to postpone payment on some $60 billion in debt by six months sent immediate shock waves through the world financial system last week. But markets recovered Friday and Monday, suggesting that while Dubai’s […]

Officials change promotion policy regarding senior NCO academy

American Forces Press Service Effective Jan. 1, Air Force officials here will implement policy aimed at improving the skill sets of Air Force senior noncommissioned officers and increasing the return on investment for the Air Force Senior Noncommissioned Officer Academy. The new policy will require the completion of resident SNCOA prior to promotion to senior […]

Investment protection not government’s concern

Freedom New Mexico Victims of Bernard Madoff’s $65 billion Ponzi scheme at least have the satisfaction of knowing the man who ruined their lives will die in prison. In June, he received a 150-year sentence at the age of 71. You may remember U.S. District Judge Denny Chin sent a strong message to investment consultants […]

Measure would promote green jobs

The New Mexican Days remaining in session: 30 Green measures: A pair of bills in the Senate, (SB318) and (SB420), aim to promote green jobs in the state. Sen. Eric G. Griego, D-Albuquerque, is carrying the bills. One would require spending of a minimum of $1 million each year from the Development Training Fund for […]

NM investment lawsuit names former governor aide

By Tim Korte: The Associated Press ALBUQUERQUE — A former state investment officer claims Gov. Bill Richardson’s former chief of staff pressured board members to support $90 million in failed investments because of political considerations. Frank Foy on Tuesday identified David Contarino as the previously undisclosed “John Doe 2” in his lawsuit. Contarino later issued […]

Food market investments helpful, risky

Freedom New Mexico The New York Times reports that in light of the world food crisis, large private investment funds around the world are going beyond placing bets on agricultural commodities like corn, wheat, soybeans and the like. Several are buying farmland, fertilizer, grain elevators, barges and ships. They figure that although the current run-up […]

No ethanol plant for Clovis

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CNJ staff photo: Tony Bullocks ConAgra withdrew its plans to build an ethanol plant near Peavey Grain Elevators located on highway U.S. 60/84 west of Clovis. By Gabriel Monte: CNJ staff writer Plans to build a $200 million ethanol plant on the edge of Clovis have been scrapped. ConAgra foods withdrew its application for an […]

Check your ROI often

By Sandra Taylor-Sawyer: Everybody’s Business In previous columns, I’ve discussed how business owners can use financial ratios to assist in making management decisions. Another important financial ratio in determining success is the return on investment ratio. Business owners should set an ROI goal and review the ratio regularly. A business owner’s desire is to make […]

Protectionist measure hinders investment

By Freedom Newspapers Whenever Congress passes something unanimously you can be sure it is either entirely innocuous or utterly stupid and harmful. In the case of a bill the House passed 423-0, to give the government broader powers to review foreign investments in certain kinds of U.S. industries and facilities, it is the latter. The […]

European tax laws inhibit growth

By Walter Williams: Syndicated columnist Some Americans look to European countries such as France, Germany and its Scandinavian neighbors and suggest that we adopt some of their economic policies. I agree, we should look at Europe for the lessons they can teach us. Dr. Daniel Mitchell, research fellow at the Heritage Foundation, does just that […]