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 […]