Tag Archives: Economy & Finance

Tehuana Power

Screen Shot 2015-11-02 at 1.58.46 PMBy Deborah Van Hoewyk

What Frida Wore: Tehuanas in Charge?

Women. Mexico. Mexican women. What do you see? Maybe Frida Kahlo comes first to mind, maybe just something fuzzy that is not Mexican machismo. Despite the 2006 passage by the Mexican parliament of the General Act on Equality between Women and Men, which has heralded considerable improvement in male-female equality, genuine gender equity still has a way to go in Mexico. Continue reading Tehuana Power

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How To Buy Property in Mexico

By Erin May

Buying property in Mexico is easier than you think. As with all real estate purchases, you will need to choose your location, do your research and hire the right professionals. Tens of thousands of foreigners have purchased real estate in Mexico and with the right approach; you can be one of them. It is important to understand Mexican property law which will safeguard your investment and make the purchase process easy and smooth. Continue reading How To Buy Property in Mexico

The Slippery Slope of Fuel

Screen Shot 2016-04-07 at 4.15.35 PMBy Julie Etra

Pemex, short for Petroleos Mexicanos, is the state run supplier of petroleum products and by definition a monopoly. It is responsible for exploration, production, refinement and distribution.

Pemex has its origins in the United Kingdom when in 1919, Shell (Royal Dutch Shell, with headquarters at The Hague, Netherlands but registered in London with 60% Dutch ownership and 40% British) took control of the Mexican Eagle Petroleum Company and formed Shell-Mex Limited. As of 1935, oil companies were still under control of foreign owned companies who tried to prevent the formation of unions. Continue reading The Slippery Slope of Fuel

Mexican Car Insurance: A Personal Essay

By Larry Turk

On the evening of January 22nd, 2012, I was sitting at Señor Puck’s, a cold Pacifico con limon in hand, intently watching my San Francisco 49ers as they prepared to kick off to the NY Giants to begin the over time quarter, tied at 17. It just doesn’t get better than this.

A tap on my shoulder, and a friend informed me my vehicle, parked on the curb, had just been rear-ended by another vehicle. Continue reading Mexican Car Insurance: A Personal Essay

Mexican Auto Industry Surprising the World

Screen Shot 2016-04-07 at 4.16.07 PMBy Neal Erickson

Mexico is number 8 in world auto production as of 2012, and is poised to displace number 7 Brazil in the near future. Some of the newest, most modern and efficient auto assembly plants in the world are located in Aguascalientes, Toluca, Hermosillo, and Guanajuato. The auto industry of Mexico provides 56,000 jobs, 21.9% of the country’s exports, represents 18% of its manufacturing GDP (Gross Domestic Product), and is growing at a steady rate. Continue reading Mexican Auto Industry Surprising the World

Grassroots Micro-finance in Oaxaca: Fundación en Vía

By Alvin Starkman, M.A., J.D.

Four years ago Juana, a resident of Teotitlán del Valle, Oaxaca’s main rug village, was earning virtually nothing selling the odd bottle of soda pop or package of gum out of her family’s narrow, halfempty storefront. Today, with the assistance of small, interest-free loans facilitated through $50 USD donations from tourists visiting Oaxaca, she earns a decent living as the proprietor of a handicrafts store filled with colorful handwoven wool rugs, tapestries and handbags. Continue reading Grassroots Micro-finance in Oaxaca: Fundación en Vía

Microlending: Mexico’s Double-Edged Sword

By Neal Erickson

Internationally, microlending has been lauded as a tremendous benefit for the working poor. In Bangladesh a man named Mohammad Yunus founded the Grameen Bank in 1983, and in 2006 was awarded the Nobel Peace Prize for his work making fair priced loans available to poor working people. The Grameen Bank has been an inspiration to like-minded people around the world.

In Mexico, there have been numerous organizations formed to bring this benefit to the people (see Alvin Starkman’s article on Fundación en Via in this issue), and have a seemingly endless list of success stories of those who have used small amounts of borrowed money to make large advances in their lives. However some corporations have entered this market, and because of lack of government regulations or laws limiting excesses, have built extremely efficient, and some say obscenely profitable business models. One of the most visible of these, but not by any means the only, is Elektra/Banco Azteca. Continue reading Microlending: Mexico’s Double-Edged Sword

The Richest Mexicans

Screen Shot 2015-10-22 at 7.53.06 AMBy Julie Etra

#1. Carlos Slim Helú.,  $69.0 billion

Commonly known as Carlos Slim, is the richest individual in the world with a net worth of $69 billion as of March 2012. He made his fortune through the telecommunications business, specifically as Chairman and CEO of the Mexican mega monopolies Telmex, Telcel and América Móvil. His parents were both of Lebanese descent, having migrated eventually to Mexico City, although his mother was born in Chihuahua Mexico. His father and his uncle founded the business La Estrella de Oriente (“the Star of the East”), a dry goods store, with 25,800 pesos. The young Carlos learned about business early in life, although his father died when Carlos was only 13. He received a degree in engineering from UNAM, and started the Grupo Carso in 1965, the first of his many businesses. He is also a respected philanthropist and baseball lover. Continue reading The Richest Mexicans