04 May 2011

MEXICO: Little Hope Remains For 9 Coal Miners After Explosion Kills 5; Billionaire Carlos Slim Slammed By Court.

AFP

    Labor Secretary Javier Lozano stated that only small possibility exists that 9 miners survived a gas explosion that killed 5 in a primitive coal mine in San Juan de Sabinas.
    There were 14 of  25 miners in the 197-foot-deep/60 meters shaft when the explosion tore through the newly opened mine.

   AND:  Carlos Slim (pictured), reportedly the world's richest man with $84 bn usd, suffered a defeat in his lucrative Mexican telephonic near-monopoly...when the Supreme Court there made it more difficult for his America Movil to protect the prices it wants to charge competitors. The company, of course, said it will appeal the fee cut decision...but can no longer rely on injunctions to delay the price cuts from taking effect.
   Dozens of  phone carriers disputed America Movil’s high fees to connect customers to their network.
   http://www.bloomberg.com/news/2011-05-04/defeating-slim-makes-maxcom-s-21-yields-a-buy-to-jpmorgan-mexico-credit.html