The Weekly Journal - Wednesday, May 11, 2022

Puerto Rico and the Caribbean

Wednesday, May 11-17, 2022 - // no. 159

Healthcare costs still on the rise P7 Cryptocurrencies must face The Bear P9 Pulitzer Prizes focused on Jan. 6th 2021 riots P13

www.theweeklyjournal.com

Reverse Mortgages Fall From Grace with Borrowers Many changes have been introduced in the last 15 years

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Zoe Landi Fontana, The Weekly Journal

Family travel to soothe the pandemic stress P15

@Landi_Zoe

f you are considering the possibility of getting into a reverse mortgage deal to be able to buy a little beachfront property or a country cottage where to spend your golden years, you better start considering a plan B. To have a reverse mortgage on a property, it must be your principal residence, meaning you spend the majority of the year there. That’s why you can’t take out a reverse mortgage to buy a vacation home to live in full-time.

There are three types of reverse mortgages, with

the Home Equity Conversion Mortgage (HECM) being the most common for homes valued below $970,800. HECMs are insured by the Federal Housing Administration (FHA), which is a part of the U.S. Department of Housing and Urban Development (HUD).

In the past 15 years, however, HUD has made numerous changes to their reverse mortgage programs.

“Some time ago, a regular borrower used to be able to take out 65-80% of the value of their home. Now, depending on their age, they can take GO TO PAGE 4

The Weekly Journal > Wednesday, May 11, 2022 >

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Auspiciador Flamboyán

La Junta de Síndicos y el Comité Organizador tienen el honor de invitarles a celebrar la

Auspiciador Heliconia

GRAN GALA MUSEO DE ARTE DE PUERTO RICO sábado, 18 de junio de 2022 8:00 p.m.

Sheraton Puerto Rico Hotel & Casino

Auspiciador Amapola

Información de auspicios y boletos 787. 977.4449 / 787.376.4317

mperez@mapr.org

Auspiciador Helecho

­ ­ ­

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/ Wednesday, May 11, 2022

a week in review Residence Inn by Marriot Opens in Isla Verde Residence Inn by Marriott, officially opens its doors in Isla Verde, offering an optimal location in that neighborhood. The new hotel is just five minutes from the Luis Muñoz Marín International Airport (SJU) and steps from the renowned Isla Verde Beach. With a global presence of more than 870 hotels, Residence Inn is the world leader in the extendedstay accommodation segment, arriving for the first time in Puerto Rico with 231 spacious suites, fully equipped kitchens, and separate living and sleeping areas. The hotel opens at a time when Puerto Rico is setting travel records as a popular destination. Guests are looking for alternative accommodation to staying in a traditional hotel. Designed for extended stays, the hotel will be the ideal destination for business and leisure travelers visiting the island and looking for a place to feel at home.

Miller Lite Launches Collab with J Balvin

2021 Ribera del Duero Qualifies as Excellent Once again, the Regulatory Council of the Ribera del Duero Designation of Origin has brought together a group of professional experts to form the Exceptional Committee in charge of qualifying the 2021 vintage of the wines of Ribera del Duero and the quality of the grapes from the last harvest. For the occasion, Ribera del Duero has counted on an Exceptional Committee: personalities of the wine sector, including sommeliers responsible for the wine selection in Michelin-starred restaurants, opinion leaders of the national wine panorama, and five winemakers of very different profiles. Each of the members of the Committee gave their personal assessment, which was delivered in a closed envelope to the Plenary of the Regulatory Council of the DO. Taking into account the judgment of these professionals, and the internal reports of the Council’s technicians, the plenary decided to qualify the 2021 harvest as excellent.

Powered BY El Vocero de Puerto Rico, 1064 Ave Ponce de León 2nd floor San Juan, PR Postal Address: PO Box 15074, San Juan, PR 00902

The iconic Miller Lite packaging will now have a neon glow thanks to a special edition made in collaboration with the Colombian reggaeton artist J Balvin. Enjoyers will be able to spot the new limited edition Miller Lite aluminum cans with Balvin’s signature look—modern and attractive images in bright, electric tones—in stores and bars soon. The collaboration was announced last year with the war cry “It’s Jose Time”, an initiative tied to the concept of “It’s Miller Time”, inspiring drinkers to enjoy a beer in a natural environment with their real friends. “I’m very proud of this project,” Balvin said, “Miller Lite is already my favorite beer, and it’s amazing to be able to give the brand a J Balvin style. I wanted to take something classic, like the Miller Lite can, and make it bright and unexpected with my signature neon colors. “

President Salvador Hasbún shasbun@elvocero.com

VP of Accounting Félix A. Rosa frosa@elvocero.com

Human Resources Director Arlene Rolón, PHR arolon@elvocero.com

Vp of Marketing and Business Operations Michelle Pérez Miperez@elvocero.com

VP of Production Eligio Dekony edekony@elvocero.com

VP of Editorial Content Juan Miguel Muñiz Guzmán jmuniz@elvocero.com

Multi-Platform Graphic and Technology Director Héctor L. Vázquez hvazquez@elvocero.com

Phone: 787-622-2300, 787-721-2300

Multi-Plataform Digital Director María Arce marce@elvocero.com

Customer Service: 787-622-7480

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CONTINUED FROM PAGE 1

credit to qualify for a reverse mortgage. “In the last five years, we’ve gone from about 150 reverse mortgage loans monthly to about two to three. Before, you could have a borrower be in foreclosure, and they would close a reverse mortgage loan,” Levis described.

That was sometime around 2007. In 2010 they began making little changes until it became a completely different program.

In Puerto Rico, the changes haven’t really worked to fulfill the borrower’s needs.

40-45%, and that has to be divided. They will get half at closing, then wait for 12 months to get the other half,” said David Levis, President and CEO of Moneyhouse Puerto Rico, a full-service mortgage company based in San Juan.

“We’re seeing an increase in reverse mortgage production in the U.S., probably twice what we saw before the pandemic, a little more even with interest rates going up.

[High-interest rates] don’t really affect the reverse mortgage Reverse Mortgages program,” Levis continued.

There are three As Last Resource Homeowners who have a lot types of reverse “We’re the only reverse of money in the equity of their mortgages, with mortgage lender in Puerto Rico home may opt into a reverse the Home Equity currently, but we’re not seeing mortgage - although it isn’t Conversion Mortgage the volume that we’re seeing the only option - for various (HECM) being the in the U.S., [where we’re] the reasons, such as purchasing an most common for #15 top U.S. reverse mortgage investment property, financing homes valued below lender,” Levis said. a better quality of life, or paying $970,800.

Despite decreasing in for medical expenses. popularity, Moneyhouse still Reverse mortgages are offers reverse mortgages, but available in Puerto Rico and they make sure everyone - the work in an almost identical way entire family - is involved. The as in the U.S. HUD reported, however, that over executive mentioned that sometimes at a reverse the past five years many seniors lost their homes mortgage closing, the elderly person’s children will as a result of taking out reverse mortgages. offer to give their parent the money to avoid taking Prior to the HUD’s modifications, borrowers out the loan. didn’t have to be employed nor verify their “At the closing, we require the family to be

In fact,

Some time ago, a regular borrower used to be able to take out 65-80% of the value of their home. Now, depending on their age, they can take 40-45%, and that has to be divided.

David Levis President and CEO, Moneyhouse Puerto Rico

there, so everyone knows what’s going on. After the passing of the parents, we want to make sure everyone knows what’s happening. One of the different things about the Puerto Rican culture is that we help each other out,” Levis said.

Levis advises that if you don’t need to do it take out a reverse mortgage loan - you shouldn’t.

After all, it’s a transaction with fees and expenses.

As a lender, Moneyhouse’s goal is to make sure everyone is informed.

“Because of our culture, parents want to leave their home to their children. If you do a reverse mortgage, and you live for a long time, [when] you pass away, you leave the reverse mortgage,

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and it goes up every month. pandemic,” said Levis.

Federal funding granted to Puerto Rico as a The payments you don’t make Because of the pandemic, result of the pandemic has been very helpful for go into the mortgage. When many clients went into the island’s residents, but pandemic relief wasn’t you pass away, you could owe moratoriums that were just a federal handout, it was more. Because more than you own. Then the imposed by the federal interest rates were so low, it helped mortgage In the past 15 years, children won’t receive anything government, so they wouldn’t borrowers who really needed financial assistance.

HUD has made as part of their inheritance. lose their homes.

“Right before the pandemic, you were almost numerous changes So, that’s one of the issues we “During that time, there was about to not be able to pay your mortgage to their reverse always like to talk about with a moratorium on foreclosures, payment. Then you refinance and get a mortgage mortgage programs. the parents,” Levis cautioned. so there were basically no payment that is half of what you paid before,” Oftentimes, people use a foreclosures. We worked Levis described a scenario that played out for reverse mortgage loan to take with all those borrowers who many people. care of their medical expenses couldn’t pay their mortgages Levis also mentioned the increase in the and food. If there are other and offered them what the minimum wage, which increased from $7.25 to options, Levis recommends looking into those first federal government was offering. [In] terms of $8.50 last January, and will increase annually until before choosing a reverse mortgage loan. delinquency, [the situation] is a lot better than it reaches $10.50.

“We first send them to one of the not-for-profit it was before the “Most of our budgeting agencies that basically check everything. pandemic,” said Levis. mortgages here are They do an analysis of everything you need before Although the with couples that you even do a reverse mortgage. We send them pandemic brought make minimum wage. there to see if there is no other financial program its fair share of A 20% increase in available other than the reverse mortgage. At the grievances, it was a wages and a 50% end of the day, it’s really a last resort program. ‘godsend’ in other decrease in their If you can afford a low mortgage payment, you ways. With interest mortgage is a dramatic should do regular refinancing. There’s a ton of rates at all-time lows, improvement. A lot federal help and programs available for seniors many Puerto Ricans, of good things are and there are local programs that are pretty good who previously didn’t happening in Puerto too,” he explained. qualify for a mortgage Rico, which is why I before the pandemic, think our industry is Improvements To The Island’s Economy could qualify. solid. Delinquencies “The last two years, at the beginning of the Unfortunately, with are down because David Levis pandemic, interest rates had gone down to interest rates back up people can pay,” Levis President and CEO, 2.75%. Mortgages in Puerto Rico were at recordat 5.5%, it’ll be more said optimistically breaking numbers. We probably closed twice Moneyhouse Puerto Rico difficult for them to about the island’s what we did the year before the COVID-19 qualify again. economy.

In fact,

Because of our culture, parents want to leave their home to their children. If you do a reverse mortgage, and you live for a long time, [when] you pass away, you leave the reverse mortgage, and it goes up every month.

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HUD targets housing discrimination

Refusing a service animal is grounds for a lawsuit

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Zoe Landi Fontana, The Weekly Journal

@Landi_Zoe

he U.S. Department of Housing and Urban Development, often referred to by its acronym HUD, has charged Puerto Rico property owners and a real estate agent with discriminating against a person with disabilities.

They allegedly refused to rent to a person with disabilities because she uses a service animal.

“Service animals allow people with disabilities

Housing providers are required to allow people with disabilities the use of service animals that they need to fully enjoy their housing.

Damon Smith HUD General Counsel

to perform life’s daily two questions: is the service activities and maintain their animal required because of a independence,” said Demetria disability? What work or task has L. McCain, HUD Principal it been trained to perform?

Assistant Deputy Secretary On the other hand, emotional A service animal for Fair Housing and Equal support, therapy, or companion is a dog that has Opportunity. animals are not considered been individually The woman who tried to service animals under the ADA. trained to do work rent the apartment is legally Although some states or local or perform tasks for blind and uses a guide dog as governments have differing an individual with a a service animal, which she policies allowing emotional disability. explained during a tour of support animals into various Source: Americans with the unit. In response, the real spaces, it is not part of federal law.

Disabilities Act estate agent told her that the building does not accept pets Housing Protections because of their policy. Despite “Housing providers are explaining to the agent and required to allow people with building’s owner that refusing disabilities the use of service animals that they to permit a service animal is grounds for a lawsuit, need to fully enjoy their housing. HUD is committed the woman was denied housing. to vigorously enforcing the Fair Housing Act to

In fact,

Service Animal vs. Emotional Support Animal

A service animal, defined by the Americans with Disabilities Act (ADA) website, is “a dog that has been individually trained to do work or perform tasks for an individual with a disability. The task(s) performed by the dog must be directly related to the person’s disability.” Under this definition, a guide dog for the legally blind qualifies as a service animal.

An establishment can ask the dog’s handler only

protect the rights of individuals with disabilities,” commented Damon Smith, HUD General Counsel.

The Fair Housing Act makes it illegal to discriminate based on disability. Refusing to make reasonable accommodations to allow a person with disabilities to use and enjoy housing is discrimination. In this case, the building’s owner and manager should have waived the “no pet” policy for service animals.

Despite numerous attempts to contact them, the Puerto Rico Association of Realtors declined to comment on the situation.

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Healthcare costs expected to increase as pandemic wanes Cost of employer-sponsored medical insurance is on the rise

H

Juan A. Hernandez, The Weekly Journal

ealthcare costs are expected to increase during 2022 as the COVID-19 pandemic diminishes throughout the world and people resume their regular usage of health services.

In its latest world survey, Aon, estimates the cost of employer-sponsored medical insurance will increase by 7.4 percent in 2022, when compared to the cost in 2021. According to the business solutions advisory firm, the increase will be due to cost. people resuming the use of their health insurance In Puerto Rico, the situation contrasts benefits to pre-pandemic levels now that the worst significantly with the rest of the region. The island part of the pandemic is over. would experience a minimal change of 0.1% More than half of the countries that participated reduction in expected medical costs for this year. in the survey (60%) reported that the rate of Similarly, Peru and Colombia both anticipate use of medical insurance benefits was lower or reductions in their medical costs. This contrasts significantly less in 2020 and 2021 compared to sharply with Mexico, whose projected increase 2019’s numbers, the year before the pandemic. in medical costs is about 16% higher than in the Nevertheless, Aon contends employer-sponsored two previous years. According to the report, this is medical insurance “will continue the result of Mexico’s modified to be prevalent, it being the health protocols designed to more common and fastest guarantee a safe attention growing financing method (with to patients not infected with coverage for new procedures, COVID-19, as well as to the longless exclusions and more flexible The nonterm effects of the disease. inclusion requisites), while most contagious On the other hand, in Puerto of the main insurers widen their diseases with the Rico, costs will remain the same offers to include telemedicine highest morbidity because of insurance companies services and/or mental health in the world are: “working together with medical support.” cancer, muscular/ service providers to keep lower But, while Aon expects a skeletal conditions, costs.” “slightly higher trend in medical cardiovascular “Insurance companies costs in 2022, when compared diseases, diabetes here work closely with service to 2021, mainly due to global and mental health. providers in keeping costs low inflation” in all regions, North by developing limited, or closed America, and Africa and the service networks, including Middle East would move in the pharmacies and hospitals,” said opposite direction, with net Sylvia Ruiz, Client Management Director for Health reductions in their medical costs of 0.6% and 1.0%, Solutions at Aon. respectively.

According to the Aon executive, hospitals

In fact,

Puerto Rico And The Latin American Region Latin America and the Caribbean regions fall with the world with a net 1.0% increase in medical

and pharmacies, along with clinical laboratory testing, are among the services with the higher demand and costs among all the regions surveyed.

Of all the countries surveyed, 88% reported

Lower costs benefit both employers and employees by guaranteeing better insurance contracts at lower rates for them.

Sylvia Ruiz Client Management Director for Health Solutions at Aon

hospitalizations as the most significant element in the cost of insurance, with laboratory testing at 83% and pharmacy (prescribed medication) at 73%.

In Puerto Rico, costs are kept low because insurers guarantee providers a specific business volume in exchange for lower costs.

“Keeping costs low reduces the [economic] impact on [insurance] premiums, coinsurance and co-pays. Lower costs benefit both employers and employees by guaranteeing better insurance contracts at lower rates for them,” Ruiz added.

Highest Morbidity

As it is expected, diseases with the highest morbidity rates always trigger the highest usage of medical insurance benefits. The non-contagious diseases with the highest morbidity in the world are: cancer (tumor growth), muscular/skeletal conditions, cardiovascular diseases, diabetes and mental health.

Despite the record low usage of employersponsored medical insurances in 2020 and 2021 due to the home sheltering ordered by many governments, Aon anticipates healthcare costs will continue to increase at more or less the same rate reported in 2021. Adding to the higher insurance premiums is the aging of the population and its declining health, unhealthy lifestyles and the prevalence of chronic diseases.

“Looking to the year ahead, most of the countries expect higher medical [services] usage than those observed at the beginning of the pandemic,” said Max Saraví, Head of Health and Human Capital Solutions at Aon Latin America.

“Preventive care and ambulatory services are the medical services expected to experience the highest usage next year. Also, telehealth services are expected to increase in 2022.”

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The Mustang Mach-E is Ford’s first all-electric crossover and has a range of up to 300 miles.

Ford to launch several EV models this year

But is not ready yet to ditch internal combustion vehicles

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Héctor L. Vázquez, The Weekly Journal

ooking at current trends within the automotive industry, especially mobility, electrification and the competitiveness of internal combustion engine, Ford Motor Company anticipates many innovations for the near future.

The Weekly Journal had the opportunity to learn more about the innovations the automaker has been working on from Rosángela Guerra, Ford’s new director for Puerto Rico, Central America and the Caribbean, and ask her what can be expected for the coming years.

Taking into consideration that when people think of American cars, Ford is in the top of their mind, it’s understandable the expectation surrounding the company’s belated announcement for the industry’s transition into electric vehicles.

Guerra anticipated that the coming transformation will be “fascinating.”

“The company has just created two separate internal structures. One is going to be dedicated exclusively to electric cars and the other is going to handle everything related to internal combustion engines,” she said.

“We believe that an important change towards electrification will take place by 2026 because at that point the price of batteries –which is 60% the price of a vehicle– is going to become more

affordable. The company has just announced a $50 I love it seeing them on the roads. Seeing so many billion [investment] to develop electric vehicles, Ford trucks gives me a thrill because it’s a vehicle and we expect that by 2030, 50% of our sales will that I love,” said Guerra, adding that last year 3,048 be from electric vehicles, which would represent F-150s were sold in Puerto Rico. By the end of approximately 2 million cars,” Guerra said.

March this year Ford had already sold 830 units of The Ford executive this model. anticipated that by Ford recently the end of this year’s launched the Maverick, third quarter, Ford a smaller pick-up. For will launch the electric the first quarter of the version of Ford’s iconic year, the Maverick sold Mustang, the Mach-E, 350 units. Meanwhile, in Puerto Rico. The the Raptor edition of new Mustang is a the newly redesigned sports utility vehicle Bronco is also (SUV) built around a expected to arrive by 480 hp electric engine the end of the year. in its GT model.

Guerra said that since her appointment Also arriving later as regional director she this year will be Rosángela Guerra has visited the island the F150 Lightning, Regional Director, Ford Motor Company on several occasions, an electric pickup. and she loves touring The Lightning was the streets of the island launched last week in in a Bronco, which is one of her favorite models. the U.S. The electric version of the Transit minivan “In the last few months I have been to Puerto Rico is also scheduled to arrive in the near future. three times, and well, I’m delighted to be here on On the subject of recharging, Ford has car the island because the truth is this is a privileged chargers available for its customers in its nine dealerships throughout the island and as they and divine place” she said.

Guerra added that she even enjoyed a little bring more electric vehicles, the number of “chinchorreo” on the eastern side of the island, available chargers will increase.

On the other hand, Guerra said the most sought which she described as “a pleasant adventure” driving the legendary SUV, which she considers after Ford model by consumers in Puerto Rico is ideal for the experience. The tour included Fajardo, the F150 pick-up.

El Yunque and the mandatory stop at the kiosks on “Our sales on the island confirm that the most sought after [model] is, undoubtedly, the F150 and Luquillo Beach.

We believe that an important change towards electrification will take place by 2026, because at that point the price of batteries is going to become more affordable.

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How the Amateur-Crypto Investor

Can Navigate the Bear Market Puerto Rico continues as hub for investors and entrepreneurs

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Zoe Landi Fontana, The Weekly Journal

@Landi_Zoe

he crypto market has been in the doldrums lately. In Europe, the number of crypto app installations was down by almost 20% in the first quarter of 2022, a reflection of the market overall. Before 2021, these apps were fairly uncommon throughout Europe, but they were mass-adapted by European crypto enthusiasts that year.

So, what is going on in the cryptocurrency market?

THE WEEKLY JOURNAL spoke with David Johnston, Chief Operation Officer at DLTx, to hear more about cryptocurrency market trends, tips for the curious, and Puerto Rico’s contributions to its development.

Analyzing the current crypto plunge, Johnston said, “I’ve been in the industry full time since 2012, I’ve been through three market cycles - 2013, 2017, 2021. In that period, adoption went from a few hundred thousand users to 150 million people. The metric that matters is global adoption.”

Every four years or so, the cryptocurrency market goes through a correction of about 50%.

In a market like the one we’re seeing now - a bear market - the value decreases by half, but with each cycle, the industry has grown so much that the new lows are much higher than the last highs.

The global market value of digital assets was around a few trillion dollars back in November.

Since then, it’s decreased substantially. Regardless, it’s still early days for the industry. “If it’s the internet, it’s 1997 in terms of adoption,” Johnston explained where we are in the development of cryptocurrency usage and DeFi (decentralized finance) development.

“If you look at the Dot-com boom and bust and only looked at the stocks, you would’ve thought it was going away, [but] user numbers and connected devices never stopped growing, regardless of the stock market,” he continued, “Anything with finance, banking - [these are] industries that are being disrupted by crypto.”

A Beginner’s Approach To Investing In Crypto

When asked how everyday people - those who aren’t deeply involved in finance, banking, nor crypto or blockchain technologies - can get involved in the rapidly expanding industry,

Johnston recommended that most people crypto investors and startups, Puerto Rico has an shouldn’t try to become day-traders. opportunity to position itself as a hub and even Investors should buy and hold using dollarreverse the brain drain it’s been suffering over the cost averaging - an investment strategy where past decade. the investor splits the total amount to be invested “I literally get a call every few days from a friend into periodic purchases of the desired asset. By moving to Puerto Rico,” he said of the influx of doing this, they can reduce the Americans moving to the island. He impact of the potential volatility believes that Puerto Rico is wellof the overall purchase. positioned to become a technology “Buy a little every week, and hub, especially within the crypto build a position. Emphasize the space. “I think PR is big enough, blue chips - Bitcoin, Ethereum it’s about the same size as Austin, In Europe, the - the large established players.

Texas. It has all the elements, number of crypto Treat it like a savings account, the government has been super app installations was not money you need tomorrow. helpful. [There’s been] an influx down by almost 20% In five years, do you think more of entrepreneurs and young in the first quarter of people will be using internet technologists,” Johnston described.

2022. money? If you answer yes, Act 60 and its recipients can be give it a try. Keep focused on a sensitive subject for many, who the fundamentals,” Johnston claim that the tax incentives exploit advised, “Don’t buy anything the island and bring little value. To you wouldn’t hold for the next this Johnston replied, “Well I think five years.” it’s a misconception, trust me we’re still paying plenty in taxes. What I would love to see is the program expanded into an ‘Act 60 for Everyone’.

Puerto Rico, A Crypto Island?

I don’t think there should be a difference. It Johnston’s business, DLTx, is a publicly traded would be great if everyone here would be able to technology company based in Norway with an benefit.” office in San Juan. They produce revenues on “I think it’s important for people to understand blockchains, a process that doesn’t closely follow that a lot of this is being built by families,” said the day-to-day fluctuations in crypto values.

Johnston, who moved down with his wife, kids, and He’s also one of the founding sponsors of the parents, “I think the demographics have changed.

Puerto Rico Blockchain Trade Association (PRBTA).

Young, hungry families, entrepreneurs, and people About one year ago, Johnston and his family moving down to build a life. We’re here for the moved down to Puerto Rico, attracted by the long term, We love this place, and we want to see business opportunities and growing technology it get better and better. We’re investing our time, community. With states like New York and money, and effort to see it happen.”

California implementing restrictive policies for

In fact,

human beings during the year to come.

resolutions we are about to make.

Almost every dream we have as

their record, their honesty and their achievements. With primaries in

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country took over th defend its values and

/ Wednesday, May 11, 2022

opinion As we see in the first paragraph, this is simply not true. You might Secretary of the Department of Economic Development and Commerce think these companies should Entrepreneur & Founder of Los Cidrines contribute even more, but ignoring that they already are one of the most important contributors to our economy and society in terms of job creation and paid taxes, is completely absurd.

I write this op-ed because this industry, which we’ve already established plays a vital role in our he economic inflation forces us to urgently search for economy, is coming under attack, alternatives to reduce costs and for the second time in 20 years. It be more efficient to maintain in the island.

Instead, our he worries me to see a lack of action and improve competitiveness. pharmaceutical from our government and pharma The possibility of a Global politicians refer to them as foreign, when they are US companies, industryTax is may impact Puerto Minimum leaders. I fully expected that by Rico’s historical strategy of leveraging incentives and continuously attack them, undoubtedly now, industry and government to attract foreign investment and urges us to pivot the workhorse threatening to raise their taxes one leaders would have come out our approach towards improving the island’s way or another whenever there is a to announce a joint workgroup of Puerto Rico’s overall competitiveness and reduce the cost of budget shortfall or some governor economy.

It pays doing business, with energy being a significant dedicated solely to solving the piece of said costs. $3 billion in annual taxes, which wants to spend more money. issues generated by the phaseout Today, our energyofsources primarily depend on Therefore, it is not surprising is over 33 percent our budget, of Act 154. the import of fossil fuels, which rely heavily on a that a large portion of our employs 78,000 direct workers But this hasn’t happened; both global market that is subject to constant market population does not understand who earn on average $62,000 and due to groups appear to have taken shifts, and daily changes; most recently the importance of the spends $500inmillion in makes our the conflict Ukraine.annually Dependency an “ignore and pray nothing energy capacity – and its – vulnerable to pharmaceutical these and medical device happens” mentality and that capital expenditures incost its plants. which create instability and are not industries to our economy and To fluctuations, put this into perspective, is not acceptable. Hoping our controlled by local agencies or regulators. society as a whole.

Our politicians’ pharma represents 30 percent of government takes the lead in these This vulnerability, in conjunction with populist rhetoric has actually led Puerto Rico’s GDP, while tourism is environmental and sustainability considerations, conversations is futile, we are in were key elements in the development of Puerto just 7 percent. many to believe that these are evil, the middle of an election cycle, and Rico’s Energyfor Policy, which set forth an aggressive corporations that take, take and However, some inexplicable it is evident that our governor and transformation of the existing system. The Pierluisi take while giving nothing back reason, our government has her opponents are more worried administration’s plan includes facilitating and to their communities and the spent decades a coherent about campaigning than actually accelerating thewithout development of clean distributed generation, energy efficiency implementations, strategy to keep them investing island. preventing an economic crisis.

Manuel Cidre Cidre Miranda

By Manuel

T

T

Therefore, I think it’s pharma’s industry le control of the narrat our government into making the phaseou election issue.

The people need t understand what wil if the deductions pro Act 154 are phased o federal government. understand what op the table to help pha in Puerto Rico and m the sector’s contribu economy. Whether i the industry’s tax str that Trump’s guilty t apply, extending cur allowing plants to bu generation without i from the AEE, or som thing that only indus know.

I genuinely believ proactive communic education, we can ch current narrative of foreigners and get e understand that wha the industry is good and vice versa. As Pu we can’t allow for a r 936 debacle to happ might not survive it.

Energy Transformation: Watch Out! Don’t Threat Workhorsetoofimprove PR’s competitiveness Anthe opportunity Puerto Rico’s Economy

and the development of microgrids. The private sector is leading advances in these developments, and the government is accelerating them with important allocations of federal reconstruction and recovery funds. Combining this unprecedented investment with local funds –for example, incentives developed to aid specific sectors and individuals – is key to maximize community impact and spur transition to cleaner, more reliable systems.

The results of “Apoyo Energético,” a recently created incentives program for small businesses, show how the efficient managing these funds contributes directly to our energy goals. A total of 888 projects, which will add a total of 16.8MW of distributed renewable energy, have been impacted. Supplies and installation services for the development of these projects are being provided by local small businesses certified by the DEDC’s Energy Policy Program and selected by the beneficiaries as part of the application process. This incentive model will provide savings and resiliency to small businesses in a wide range of sectors and regions, including Vieques and Culebra.

As an additional benefit from the incentive program, 56 small companies will have the

This vulnerability, in conjunction with environmental and sustainability considerations, were key elements in the development of Puerto Rico’s Energy Policy. opportunity to make their businesses grow while expanding Puerto Rico’s capability to achieve its energy goals. To ensure these small business suppliers have the tools to develop the incentivized projects, the DEDC will support additional programs to enable them to develop their workforce, apply for green energy incentive decrees, and facilitate access to capital, among others. External support will also be coordinated by the DEDC, including commitments from LUMA to facilitate project interconnections.

Information from more than 1,500 small businesses was captured during the registration process for this incentive program, and will be analyzed for the development of future programs and to identified sectors and regions with the most need for support. The information will be shared in a public report to provide a benchmark for energy consumption per commercial sector and the green energy market.

Furthermore, the Fiscal Oversight and Management Board recent approval of the integration of more than 845MW of renewable energy into the grid, the framework to finally facilitate transmission, and the upcoming integration of hydrogen to our energy generation will accelerate the transition to clean energy sources and will help us reduce the import of fossil fuels.

This ongoing transformation of the energy system is historical, and the Government is fully committed to its completion. The unprecedented allocations of federal funds have given Puerto Rico a once-in-a-lifetime opportunity to make this transformation a reality and will undoubtedly improve the island’s competitiveness by offering stable and low-cost energy to continue accelerating our economic growth.

11 < The Weekly Journal > Wednesday, May 11, 2022

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/ Wednesday, May 11, 2022

Ms. Pac-Man clears path to World Video Game Hall of Fame Inductees are recognized for their popularity and influence on the pop culture

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The Associated Press

OCHESTER, N.Y. — More than 40 years after blazing a trail for female video game characters, Ms. Pac-Man was inducted last week into the World Video Game Hall of Fame, along with Dance Dance Revolution, The Legend of Zelda: Ocarina of Time and Sid Meier’s Civilization.

The Hall of Fame considers electronic games of all types each year — arcade, console, computer, handheld and mobile. Inductees are recognized for their popularity and influence on the video game industry or pop culture over time.

The Ms. Pac-Man arcade game was released in 1981 as Midway’s follow-up to Pac-Man, which “Music has been an integral part of human entered the hall as part of the inaugural class in life since prehistoric times, so it comes as no 2015. The Pac-Man sequel reimagined the main surprise that DDR enjoyed a unique popularity that character to acknowledge the original game’s spanned ages, genders, and regions,” said video female fans, according to the hall. After selling game curator Lindsey Kurano.

125,000 cabinets within the first five years, it A home version of the game followed on the became one of the best-selling arcade games of all Sony PlayStation in 1999. time.

The Legend of Zelda: Ocarina of Time, also first There was nothing inherently gendered about released in 1998, came out for the Nintendo 64 early video games, said Julia Novakovic, senior gaming console and defined what a 3D action archivist at the hall. But video game could be, Hall of “by offering the first widely Fame officials said. The awardrecognized female video game winning game sold more than character,” she said, “Ms. Pac7.6 million copies worldwide Man represented a turn in the and continues to be recognized cultural conversation about by some players and critics as The Ms. Pac-Man women’s place in the arcade, as one of the best video games arcade game was well as in society at large.” ever made. released in 1981 as The Class of 2022 was “Even today, developers Midway’s follow-up chosen from a field of finalists throughout the world credit to Pac-Man. that also included Assassin’s The Legend of Zelda: Ocarina Creed, Candy Crush Saga, of Time as influencing the way Minesweeper, NBA Jam, they create games,” digital PaRappa the Rapper, Resident games curator Andrew Borman Evil, Rogue, and Words with said. “The game’s sprawling 3D Friends. It is the eighth class to be inducted world, fluid combat, complex puzzles and timesince the World Video Game Hall of Fame was shifting story combined to inspire a wonder in established at The Strong National Museum of Play players that they have never forgotten.” in Rochester, New York.

Sid Meier’s Civilization, released in 1991, was Konami’s Dance Dance Revolution, first seen recognized as an influential simulation and in arcades in Japan in 1998, was recognized for strategy game. The game, which invited players helping to pave the way for other music-centered to develop their own empires, launched a series games like Guitar Hero and Rock Band. The fastof successor games, including the most recent paced game put players on a dance floor with a Civilization: Beyond Earth and Civilization VI. screen in front to direct their moves.

“The addictive nature of the game, which creator

In fact,

…by offering the first widely recognized female video game character, Ms. Pac-Man represented a turn in the cultural conversation about women’s place in the arcade, as well as in society at large.

Julia Novakovic Senior archivist, World Video Game Hall of Fame

Sid Meier himself called the ‘one more turn’ quality, and its nearly unlimited choices that prevented repetitive gameplay, earned Civilization recognition from Computer Gaming World as the best video game of all time in 1996,” said Jon-Paul Dyson, director of The Strong’s International Center for the History of Electronic games. “Altogether — and given the extraordinarily long periods of play the game afforded — players have engaged with the Civilization series for more than a billion hours.”

Anyone can nominate a game for the World Video Game Hall of Fame. Final selections are made on the advice of journalists, scholars and others with knowledge of the history of video games and their role in society.

/ Wednesday, May 11, 2022

A Pulitzer for The Washington Post

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Getty Images photographers were also awarded

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Deepti Hajela, The Associated Press

EW YORK — The Washington Post won the Pulitzer Prize in public service journalism for its coverage of the Jan. 6 insurrection at the U.S. Capitol, an attack on democracy that was a shocking start to a tumultuous year that also saw the end of the United States’ longest war, in Afghanistan.

The Post’s extensive reporting, published in a sophisticated interactive series, found numerous problems and failures in political systems and security before, during and after the Jan. 6, 2021, riot in the newspaper’s own backyard.

The “compellingly told and vividly presented account” gave the public “a thorough and The photo shows U.S. Capitol police officers aiming their weapons at the main door of the House Chamber, while unflinching understanding of one of the nation’s members of a mob supporting U.S. President Donald Trump try to gain entry, Jan. 6, 2021 in Washington, DC. darkest days,” said Marjorie Miller, administrator of >Drew Angerer/Getty Images via AP the prizes, in announcing the award.

The Tampa Bay Times won the investigative The New York Times also won in the national Five Getty Images photographers were reporting award for “Poisoned,” its in-depth look reporting category, for a project looking at awarded one of the two prizes in breaking news into a polluting lead factory.

The Miami Herald took police traffic stops that ended in fatalities, and photography for their coverage of the riot. the breaking news award for its work covering the Salamishah Tillet, a contributing critic-at-large at The other prize awarded in breaking news deadly Surfside condo the Times, won the criticism award. photography went tower collapse, while A story that used graphics in comic form to tell the to Los Angeles Times The Better Government story of Zumrat Dawut, a Uyghur woman who said correspondent and Association and the she was persecuted and detained by the Chinese photographer Marcus Chicago Tribune government as part of systemic abuses against her Yam, for work related won the local community, brought the illustrated reporting and to the fall of Kabul. reporting award commentary prize to Fahmida Azim, Anthony Del Col, The U.S. pullout for “Deadly Fires, Josh Adams and Walt Hickey of Insider. and resurrection of Broken Promises,” Jennifer Senior of The Atlantic won the award the Taliban’s grip the watchdog for feature writing, for a piece marking the 20th on Afghanistan and newspaper’s anniversary of the 9/11 attacks through a family’s grief. permeated across examination of a lack The editorial writing prize went to Lisa categories, with of enforcement of fire Falkenberg, Michael Lindenberger, Joe Holley and The New York Marjorie Miller safety standards.

Luis Carrasco of the Houston Chronicle, for pieces Times winning in Administrator, Pulitzer Prizes “As a newsroom, that called for voting reforms and exposed voter the international we poured our hearts suppression tactics. reporting category for into the breaking news The prize for feature photography went to reporting challenging and the ongoing daily Adnan Abidi, Sanna Irshad Mattoo, Amit Dave official accounts of civilian deaths from U.S. coverage, and subsequent investigative coverage, and Danish Siddiqui of Reuters for photos of the airstrikes in Syria, Iraq and Afghanistan. of the Champlain Towers South condominium COVID-19 toll in India. Siddiqui, 38, who won a The Pulitzer Prizes, administered by Columbia collapse story,” The Miami Herald’s executive 2018 Pulitzer in the same category, was killed in University and considered the most prestigious editor, Monica Richardson, wrote in a statement.

Afghanistan in July while documenting fighting in American journalism, recognize work in 15 “It was our story to tell because the people and between Afghan forces and the Taliban. journalism categories and seven arts categories. the families in Surfside who were impacted by this The Pulitzer Prizes also awarded a special This year’s awards, which were livestreamed, unthinkable tragedy are a part of our community.” citation to journalists of Ukraine, acknowledging honored work produced in 2021. The winner of The prize for explanatory reporting went to their “courage, endurance and commitment” in the public service award receives a gold medal, Quanta Magazine, with the board highlighting covering the ongoing Russian invasion that began while winners of each of the other categories get the work of Natalie Wolchover, for a long-form earlier this year. Last August, the Pulitzer board $15,000. piece about the James Webb space telescope, granted a special citation to Afghan journalists who The intersection of health, safety and a $10 billion engineering effort to gain a better risked their safety to help produce news stories infrastructure played a prominent role among the understanding about the origins of the universe. and images from their own war-torn country. winning projects.

The compellingly told and vividly presented account gave the public a thorough and unflinching understanding of one of the nation’s darkest days.

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/ Wednesday, May 11, 2022

Diverticulosis, diverticulitis and food

Both conditions are similar, but different in symptoms and treatment

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Rosa M. García Chef and owner of Criolite

urely, you have heard, seen or met someone who has mentioned diverticula or diverticulitis to you.

Perhaps you have heard both terms linked to each other, which is not correct. Diverticulosis (diverticula) are small bags or sacs in the inner part at the end of the intestine (colon) while diverticulitis is when the diverticula become inflamed by feces and bacteria trapped in the colon.

According to the International Foundation for Gastrointestinal Disorders (IFFGD), diverticular disease affects the colon, which is the part of the large intestine from where waste is eliminated from the body. It is important to understand that they are not the same and, therefore, the diets to help improve the conditions are totally different.

Knowledge is power, if you are well informed about the difference, you can clarify doubts and avoid mistakes when starting a diet if you suffer from one of the two conditions.

According to health professionals, we can prevent diverticulosis by maintaining a high-fiber diet. What is the importance of fiber at this stage?

The fiber remains in the colon and absorbs water thus avoiding constipation as it facilitates the passage of stool in bowel movements, preventing them from being hard and difficult to pass. In your diet, choose foods with more than 3 grams of fiber, choose to consume fruits, green vegetables, whole grains and, of course, water consumption is important.

If you are one of those who do not consume fruits and vegetables, there are options of unflavored powdered fiber, such as psyllium, a natural dietary fiber, composed of soluble and insoluble fiber that comes from a herb grown in India. You can also opt for flax seeds or ground chia seeds mixed with water. According to the Mayo Clinic, women should aim to eat at least 21 to 25 grams of fiber per day, while men should aim to eat 30 to 38 grams per day.

On the other hand, when the condition becomes diverticulitis, serious problems can occur such as blockages in the digestive system, infection,

inflammation, bleeding, intense pain and even seeds, fish, and low-fiber cereals, such as white perforations, which can cause death. In some rice. cases, the alternative is surgery As is generally known, food to remove the affected part of plays an important role in our the colon. According to nutrition body, it is like gasoline for the and dietetics specialist Jeannette engine. We can avoid suffering Rivera, “at this stage the diet from health conditions by making is very different… It is low in changes to our diet. Remember to If you are one of fiber to reduce the amount of read the nutritional label and the those who do not excretion and allow the tissue list of ingredients on processed consume fruits and to heal. This low-fiber diet is foods, it is the only way to be vegetables, there are continued until the doctor aware of the food you consume. A options of unflavored indicates it is necessary, and diet high in fiber, fruits, vegetables powdered fiber, such then, little by little, high-fiber and lots of water prevents as psyllium, a natural foods are added. constipation, and can be a good dietary fiber, that At this stage, only clear alternative to avoid diverticulosis, comes from a herb broths (bone broth is an and therefore, get diverticulitis. grown in India. excellent alternative), gelatin, It is important to understand juices without the pulp, and this issue because both conditions no added sugar should be are very similar, but different. consumed. In the next stage When making changes in diet, of the condition, with the supervision of a health consulting a dietitian or health professional is professional, you can add fruits without shells or necessary. Take care of yourself!

In fact,

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/ Wednesday, May 11, 2022

The Transformative Power of a Vacation Shared experiences as an antidote to pandemic stress

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Zoe Landi Fontana, The Weekly Journal

@Landi_Zoe

hat is it about a vacation that makes us feel so refreshed? Perhaps the answer depends on the destination - a beach getaway certainly restores a sense of peace and imparts a healthy glow, while touring a new city with a packed itinerary might stimulate a new kind of curiosity.

More vital than the place, however, is the people that surround you.

According to the results of a study conducted by UNICEF and Gallup in 21 countries, emotions such as uncertainty, loneliness, and sadness took over the lives of thousands of families. Children and adolescents were greatly affected by the radical changes in their routines, with their mental health and support being impacted.

“Moving away from face-to-face interactions in social, academic, and family settings reinforced children’s isolation and insecurity. In addition, the lack of social, sensory, physical, and educational stimulation caused lags and deficiencies in their development, and lost many important vital

Marriott International taken in the Caribbean and Latin America, 40% of participants planned on taking an upcoming vacation with their family.

“Following the pandemic, we saw a new focus on values, and spending time with loved ones is at the top of the list. Traditional family vacations have been expanded to become multi-generational and include the extended family, as our guests want to meet again and make up for lost time,” said Diana Plazas-Trowbridge, Chief Sales and Marketing Officer at Marriott International in the Caribbean and Latin America.

Family vacations could be the ideal antidote Rubén la Rosa to the pandemic’s negative effects. Enjoying Psychologist beautiful moments as a family can bring lasting feelings of happiness to children. These types of vacations help to support opportunities for their growth,” increased rational, reflective, and said Rubén la Rosa, an infant critical thinking. New values and psychologist. emotional and social abilities can To revitalize your family’s be acquired as well, according to mental health, as well as studies by the pediatric Hospital your own, the transformative Sant Joan de Déu in Barcelona.

Nearly 90% of power of a vacation cannot be “The post-COVID family must Americans have underestimated. reconnect emotionally and enjoy trips planned. all together on a journey that Source: Destination will reinforce emotional ties and Family: The Key To An Analysts reported communication.

Beyond this, Enriching Vacation children’s brains learn beyond a Nearly 90% of Americans have screen or the sheets of a book trips planned, despite widespread they learn by experience, by the concern over economic struggles enjoyment and safety of being with the family,” and global turmoil, researchers at Destination said Rubén la Rosa.

Analysts reported. Furthermore, in a study by

The post-COVID family must reconnect emotionally and enjoy all together on a journey that will reinforce emotional ties and communication.

In fact,

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