The Weekly Journal - Wednesday, July 27, 2022

Wednesday, July 27 - August 2, 2022 - // no. 170

Puerto Rico and the Caribbean

www.theweeklyjournal.com

LGBTQ+ businesses contribution to the economy P6 FED to announce new hike to interest rate P9 How smart a city could be? P10

Short-Term rentals: the challenges and the need to overcome them Different studies point to the effects of the sector in Puerto Rico’s economy

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Madison Choudhry, The Weekly Journal

Angelina, a collective space for entrepreneurs P14-15

he Puerto Rico Tourism Company has continued to highlight the successful recovery of the tourism industry after the devastating impacts of hurricanes Irma and Maria in 2017, and the ongoing Covid-19 pandemic. Just two weeks ago, Discover Puerto Rico’s CEO, Brad Dean, spoke to the U.S. Senate’s Subcommittee on Tourism, Trade, and Export Promotion “showcasing” the industry’s recovery.

“As we emerged from the depths of this crisis, the worst ever in the history of our industry, Puerto Rico’s tourism industry set all-time records in 2021, with more visitors, more tax collections, and (perhaps the most important statistic of all) more people employed in leisure and hospitality than ever before in our history,” Dean explained.

Those assertions have been confirmed by a study commissioned by Airbnb, Inc. to independent global advisory firm Oxford Economics, and published last week. The study.

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a week in review New TRYP for Mayagüez The new TRYP Hotel is now open for business in Mayagüez. The TRYP by Wyndham Mayagüez offers 51 rooms, including single and double rooms, and suites.

Amenities include a swimming pool, gym, market, a business center, high-speed Internet, in addition to being pet friendly.

The hotel offers “an alternative in advanced lodging” to visitors of the Porta del Sol Region.

“At the Tourism Company, we are very pleased with the opening of the TRYP by Wyndham Mayagüez hotel in an area as emblematic as the historic center of the “Sultana del Oeste.” We are certain the hotel will be a robust boost for the tourism industry and the economy of our Porta del Sol tourist region.” said Carlos Mercado, executive director of the Puerto Rico Tourism Company (PRTC).

The latest ‘Z’ Golfers with a purpose Chihuahua Foundation, a recently founded non-profit organization that advertises itself as a club that plays golf with a purpose, recently raised $8,000 during its first golf tournament at Palmas Athletic Club.

The foundation, whose purpose is to support small causes, focusing on children with limited resources, pledged the proceeds from the golf tournament to Sight to See a Horse, a multidisciplinary group of specialists in human development and functional diversity that provide equine therapy. The money will pay for 155 therapies to children with limited economic resources. The Chihuahua Foundation is a group of golfer friends that identified their sport “as a great opportunity to contribute to small causes, giving purpose to an activity that we were already carrying out,” said foundation president Alejandro Meléndez.

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 latest version of the Nissan Z is already in Puerto Rico. Known to generate emotions whether on the quintessential road trip, or on the daily commute, the new Z will please drivers with its 3.0-liter twin turbo V6 engine and 6-speed manual transmission. There is an option for a 9-speed automatic transmission with a paddle shifter. The car is available in three models: Sport, Performance, and a limited edition Proto Spec.

The 400 horsepower engine is rated at 6,400 rpm and 350 pound-feet of torque. Would be Z drivers can choose the color of their car from a six-color palette, including: Brilliant Silver, Boulder Grey, Passion Red, Everest White Pearl, and the new Seiran Blue and Ikazuchi Yellow. “With each generation, Nissan raises the bar and pushes the limits of Z. More than powerful and agile, the legendary Z was designed to create an emotional bond between the car and the driver, regardless of the road ahead,” said Juan Santana Chea, Nissan Commercial Director for Puerto Rico.

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 Customer Service: 787-622-7480

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CONTINUED FROM PAGE 1

visitor spending in general is expected to exceed $8 billion by 2025.

“Economic Impacts of Airbnb in Puerto Rico,” details the contribution of the online lodging The Pros marketplace to Puerto Rico’s tourism industry and According to Ángel Terral, Airbnb director for economy, as well as other aspects of the island’s Mexico and the Caribbean, the company has a economy. It must be noted, though, that there is little over 15,000 rental units on the island and some inconsistent data in the more than 8,000 registered study, as it was presented to the hosts. The term host is used press. to refer to property owners, According to Oxford’s study, administrators or operators the tourism industry contributed participating on the platform. $3.7 billion to Puerto Rico’s Gross Terral explained the difference When Domestic Product (GDP) in 2021, between the number of units individuals take and directly supported 101,000 and hosts arguing there are long-term rentals jobs. Of those $3.7 billion, $872.4 hosts who have “a house with off the market and million (23.5%) came from short three rooms and list each room convert them into the term rentals operating on the independently.” short-term rentals, a Airbnb platform.

Terral said 92% of the hosts contraction in supply Oxford’s study also estimated reported to be Puerto Rico for long-term rentals the total spending by Airbnb residents. occurs. guests to be $1.7 billion, with “In the last few years, shortguest spending accumulating term rentals added a great deal almost a fourth (23.4%) of all to Puerto Rico’s lodging capacity tourism related activities. and helped our tourism industry If the hospitality sector continues to rebound recover. Last year Puerto Rico set new records from the impacts caused by the pandemic and in lodging income, tax collections, and people Hurricane Maria in 2017, the study estimates, employed in the tourism industry. The recovery

In fact,

In the last few years, shortterm rentals added a great deal to Puerto Rico’s lodging capacity and helped our tourism industry recover.

Ricardo Cortés, director of Public Affairs of Discover Puerto Rico

was an industry-wide effort and short-term rentals had a special role in the process,” said Ricardo Cortés, director of Public Affairs of Discover Puerto Rico.

According to the study, non-resident guests account for the majority of spending made by people booking through Airbnb.

According to Terral, “economic activity stimulated by the people using Airbnb benefits Puerto Rico in general, promoting employment and income in communities and industries. Also, most of the spending by guests who stayed at Airbnb occurs in a range of non-accommodation

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…every 10% increase in the total number of Airbnb rentals led to a 0.42% increase in rent prices and a 0.76% increase in house prices in a given area.

UCLA study, “The Effect of Home-Sharing on House Prices and Rents”

sectors such as restaurants, stores and transportation providers, and in different types of business categories...”

Figures regarding Airbnb operations in Puerto Rico are very favorable. But, regardless of that, there is a downside to Airbnb and short term rentals’ business.

The Cons

The opposition to short-term rentals in Puerto Rico points to the current lack of affordable housing options as a main determent. The reasoning behind it being that individuals are buying up affordable housing and converting them into short-term rentals instead of renting it out, long term, to local residents, who are quick to point out that, as rent has increased, the number of places to live in has conversely decreased.

A UCLA study on “The Effect of Home-Sharing on House Prices and Rents” supports this claim.

The study shows precisely how Airbnb affects home prices and rents. From 2012 to 2016, “this study found that every 10% increase in the total number of Airbnb rentals led to a 0.42% increase in rent prices and a 0.76% increase in house prices in a given area.”

This information comes to many Puerto Ricans with little to no surprise. This phenomena of

buying property with the hopes of converting it into a short term rental is not a phenomenon experienced by just one municipality. Rather, you can see this trend occurring across the island.

Why does Airbnb and other short-term rentals affect home prices this way? It all boils down to the laws of supply and demand. When landlords take long-term rentals off the market and convert them into the shortterm rental market a contraction in supply for long-term rentals occurs. Meaning tenants are forced to bid higher for the

remaining properties. Thus, the competition increases prices and the rental yields.

Jennifer Márquez, the founder of The Reserve LLC, a hospitality If the management company, said in hospitality sector an interview with USA Today continues to that, “when you drive around rebound from the you can tell when it’s a local impacts caused by person or an outsider.

Every the pandemic and single home that you see that is hurricane Maria in going through a renovation, is 2017, Puerto Rico is getting ready for Airbnb. It’s not expected to exceed getting ready to be a [long term] $8 billion in visitor rental home.” Márquez added spending by 2025. that, “you have locals, and then you have the internationals, you know… travelers who saw potential because of Act 20 and Act 22 tax incentives.”

Act 20 and Act 22 (now grouped under Act 60) are tax incentives for U.S. residents that were designed to entice investors to take up residency in Puerto Rico. For example, “Americans who move existing, or create qualifying businesses or investments in Puerto Rico, can lower their federal income tax rate from up to 37%, in the states, to zero on income earned in Puerto Rico,” reported USA Today.

The Department of Economic Development and Commerce (DDEC, for its Spanish acronym) reported on its website that, “between 20152019, Act 20 and 22 beneficiaries invested $2.5 billion in Puerto Rico’s economy, while directly and indirectly creating an estimated 36,200 jobs.” According to the DDEC, “68% of Act 22 beneficiaries bought property in Puerto Rico.”

When asked her opinion on whether only international investors are buying properties or not, Márquez said “you have a little bit of everything… It’s like 50-50.”

In fact,

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In fact, Discover Puerto Rico has played a fundamental role in the tourism sector by promoting and attracting tourists to these [LGBTQ+] businesses through promotional tour packages.

LGBTQ+ businesses have a positive impact on PR’s economy

$780 million are estimated to be spent in tourism related activities

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Efraín Montalbán Ríos, The Weekly Journal

rom the shadows to the multiple of colors that identify what some call “pride” and others “community,” is how Joey Colón, executive director and creator of the Puerto Rico LGBTQ+ Chamber of Commerce (LGBTQ+CC), would characterized the transformation thousands of LGBTQ+ businesses have undergone throughout history.

According to data provided by the LGBTQ+CC, there are 14,210 businesses in the LGBTQ+ community on the island, with an estimated 30% allied businesses –open to cater to people from this sector– which translates into an estimated economic impact of $780 million, and 6,000 direct jobs for Puerto Rico.

Colón argued the LGBTQ+ community has always generated significant revenues for the island, as evidenced by the average profile of the businesses owners.

“This economic impact has always existed, but was not openly admitted because usually the community is made up of professionals who prepare themselves, who study, who enterprise and create businesses… that has always happened.

But it used to happen in the closet. Now we see what’s happening in front of the world,” said Colón.

“The community contributes $780 million every year to the local economy and that’s pretty big.”

For Colón, corporations, small businesses, non-profit organizations, restaurants, and bars,

among other businesses, are all part of the island’s inclusive commercial offering. Nevertheless, Colón pointed out this “opening” is due to a generational shift among members of the community.

“LGBTQ+ businesses are positioning themselves more openly every day. When compared 10 years ago, these LGBTQ+ businesses experienced a certain discomfort about openly being part of the community. Now we are seeing a change,” he said.

Colón explained these businesses do not refuse entrance to heterosexuals, but rather encourage it, as is the case of the businesses operating in Boquerón, Cabo Rojo, on the southwestern coast of the island.

This economic impact has always existed, but was not openly admitted… it used to happen in the closet.

Joey Colón, executive director LGBTQ+CC

“LGBTQ+ businesses are already part of the regular economic ecosystem... with a ‘straight’ person being able to go to these businesses.

We are seeing it in different tourist destinations.

Boquerón’s case is incredible and I would like to see the same happening in all coastal towns, because I think that 90% of the businesses are LGBTQ +,” the activist argued.

Colón mentioned that Discover Puerto Rico has played a fundamental role in the tourism sector by promoting and attracting tourists to these businesses through promotional tour packages,

which benefit both the island’s economy and LGBTQ+ businesses.

Ricardo Cortés, director of public affairs at Discover Puerto Rico, assured promotion of inclusive destinations on the island has happened organically and he is convinced that tourism from the LGBTQ+ community is on the rise.

“This happened in an organic way. This is a very important niche in the industry. I think the visits from the LGBTQ+ community have increased in recent years, precisely because Puerto Rico has been promoted as a destination that welcomes the community,” Cortés said.

According to a study by Puerto Rico’s Destination Marketing Organization (DMO), 19% of LGBTQ+ travelers identified Puerto Rico as a welcoming destination for this community. This figure allegedly increased to 41%, as a result of campaigns and initiatives directed at people who belong to the community.

Currently, the Puerto Rico LGBTQ+CC is part of the international network of chambers of commerce in the tourism sector, and they will attend the upcoming LGBTQ+ Forum in Las Vegas to attract more business to the island.

“Puerto Rico is at the forefront of LGBTQ+ economy in the Caribbean. It is much further ahead than all the Caribbean islands and Central America itself, not including Mexico,” Colón said.

Opportunity for tourism

The International LGBTQ+ Travel Association selected Puerto Rico as the venue for its 2023 Global Convention. The event, which will take place in San Juan, will be the first to be held in the Caribbean since 1985, and will mark the 40th anniversary on the organization.

According to data from the Puerto Rico LGBTQ Community Center, this community accounts for 10% of the world’s tourists, and 15% of the spending.

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/ Wednesday, July 27, 2022

Hobbled by chip, other shortages, GM profit slides 40% in Q2 The automaker couldn’t deliver 95,000 vehicles between April and June

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Tom Krisher – The Associated Press

ETROIT – General Motors’ second-quarter net income fell 40% from a year ago as computer chip and parts shortages hobbled factory output and drove the company’s U.S. sales down

more than 15%.

The Detroit automaker earned $1.67 billion from April through June, in part because it couldn’t deliver 95,000 vehicles because they were built without one part or another. A year ago, it made $2.79 billion.

Although the company said it’s preparing for an economic downturn, it stuck to its prior earnings Chief Financial Officer Paul Jacobson said the guidance for the full year. company already has started to clear out vehicles Unlike Walmart, which on Monday lowered its profit outlook for year and said that consumers are that were built without some components and would have them all sold by year’s end. cutting back on discretionary spending, GM said He said the company restructured years ago, demand remains strong for its vehicles.

“Right now, we can’t build enough full-size trucks so it doesn’t foresee any layoffs like Tesla, Rivian and other automakers. Crosstown rival Ford and SUVs,” CEO Mary Barra told analysts Tuesday. reportedly is considering “A lot of these vehicles, we have salaried worker cuts to help customers waiting for them.” fund the transition to electric And even when pent-up vehicles. demand starts to wane, Barra Despite the profit drop, GM said GM still has to build held its full-year net income inventories more toward The company only guidance steady at between normal levels. The company has a 10 to 15-day $9.6 billion and $11.2 billion. only has a 10 to 15-day supply on dealer lots, The company still expects supply on dealer lots, when when automakers pretax income of $13 billion to automakers used to target used to target having $15 billion. having 60 days. Barra said GM 60 days.

Shares of GM fell 2.4% in will restore inventories, but not early trading Tuesday. to traditional levels as it tries to The company reported move more toward a customeran adjusted profit of $1.14 ordering model. per share, falling short of GM expects full-year sales Wall Street expectations for $1.27. Revenue to dealers to rise 25% to 30% over last year as the for the quarter was up 5% to $35.76 billion on supply of semiconductors improves through the strong pricing, beating estimates of $33.9 billion, year and into 2023.

But it’s not certain that the year will go exactly as according to FactSet. J.D. Power estimates that the average sales price planned. Barra said there are economic concerns, of a new vehicle for the first six months of the year so GM is taking steps to manage costs, including reducing discretionary spending and limiting hiring hit nearly $45,000, a record that is 17.5% higher to critical positions needed to support growth. “We than a year ago.

Like other automakers, GM has been forced to also have modeled many downturn scenarios and slow its factories since late in 2020 largely due to a we are prepared to take deliberate action when global shortage of semiconductors, but GM was hit and if necessary,” Barra said in a statement.

In fact,

General Motors’ second-quarter net income fell 40% from a year ago as computer chip and parts shortages hobbled factory output and drove the company’s U.S. sales down more than 15%. >AP Photo/Matt Rourke, File

Right now, we can’t build enough full-size trucks and SUVs. Mary Barra, GM’s CEO

particularly hard in the second quarter.

GM made $2.3 billion before taxes in North America, its most profitable market, a 21% tumble from a year ago. The company said strong demand, coupled with production cuts, continues to limit dealer inventory.

The company reported a $100 million equity income loss during the quarter from its joint venture in China, largely driven by pandemicrelated lockdowns. But GM said production began to recover in June.

The company’s liquidity, measured by cash and available credit lines, fell by more than 10% since the end of the year to $33 billion.

Jacobson said the cash burn was temporary, much of it caused by timing of expenditures, including increased capital investment. The company started the quarter thinking it would produce more vehicles than it did, he said.

“Essentially all of those vehicles will come back in the second half,” he said.

More patience will be needed before GM shares, which are down over 40% this year, turn a corner, wrote CFRA Analyst Garrett Nelson.

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In fact, Migration distances were shorter for Black and Hispanic individuals, compared to white and Asian young adults.

Study: Millennials didn’t stray far from where they grew up

Most young adults in the U.S. live in the same area where they were raised

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Mike Schneider – The Associated Press

rowing up in mid-sized Virginia Beach, Andrew Waldholtz wanted to live in a big city so he moved to the District of Columbia for college. After four years in the comparatively expensive city, he realized he wanted a place to live that was more affordable.

Waldholtz, 35, eventually found a happy compromise in St. Louis whose Midwestern affordability and opportunities to build his career in corporate compliance had the added bonus that his sister and brother-in-law lived there.

Now living 940 miles (1,513 kilometers) away from Virginia Beach, Waldholtz is in a distinct minority among others who reached adulthood in the 21st century in that he resides a half-continent away from where he grew up, according to a new study by U.S. Census Bureau and Harvard University researchers released Monday.

The study found that by age 26 more than two-thirds of young adults in the U.S. lived in the same area where they grew up, 80% had moved less than 100 miles (161 kilometers) away and 90% resided less than 500 miles (804 kilometers) away. Migration distances were shorter for Black and Hispanic individuals, compared to white and Asian young adults, and the children of higher income parents traveled farther away from their hometowns than those of less wealthy parents,

according to the study.

“For many individuals, the ‘radius of economic opportunity’ is quite narrow,” the report said.

Young adulthood is a period in life when migration is highest in the U.S. The study looked at the likelihood of people born primarily between 1984 and 1992 moving away from the commuting zone they grew up in. Commuting zones are made up of one or more counties that reflect a local labor market, and there are more than 700 commuting zones in the U.S. The birth range in the study overlaps the generation typically referred to as millennials.

It turns out that the most common destinations for young adults were concentrated near where they grew up, said the study which utilized decennial census, survey and tax data.

For instance, three quarters of people who grew up in the Chicago area stayed there. Rockford was the top destination for people who moved away and stayed in Illinois but only represented less than 1% of the young adults from Chicago. Los Angeles was the top destination for those who moved out of state but that accounted for only 1.1% of young adults from Chicago, according to an interactive data tool that accompanies the study.

Where young adults moved to varied by race.

Atlanta was the most popular destination for young Black adults moving away from their hometowns, followed by Houston and Washington.

Young Black adults who grew up in high-income households were multiple times more likely to move to these cities in a “New Great Migration” than those from low-income families, according to the study.

For white adults leaving their hometowns, New York, Los Angeles, Washington and Denver were the most population destinations. Los Angeles and New York were the top two destinations for

For many individuals, the ‘radius of economic opportunity’ is quite narrow.

U.S. Census Bureau and Harvard University study

Asians and Hispanic young adults. San Antonio and Phoenix also were popular with Hispanics, while San Francisco also appealed to Asian young adults.

Despite the region’s economic woes and the prospect of job opportunities elsewhere, young adults in Appalachia were less likely to move far from their hometowns compared to those of similar incomes living elsewhere, the report said.

The reluctance of millennials to move far away is backed up by recent studies showing declines in mobility in the U.S. for the overall population. In the middle of the last century, about a fifth of U.S. residents, not just young adults, moved each year.

That figure has dropped steadily since the 1950s, going from about 20% to 8.4% last year, due to an aging population, dual-income households that make it more difficult to pick up and move and, more recently, the pandemic, according to a recent report from Brookings.

A Pew Research Center survey released last week showed that a quarter of U.S. adults ages 25 to 34 resided in a multigenerational family household in 2021, up from 9% in 1971. The age groups in the Pew study and the study by the Census Bureau and Harvard University researchers overlap to some degree.

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Fed set to impose another big rate hike to fight inflation

The Fed’s moves will make borrowing costlier for individuals and companies Christopher Rugaber –The Associated Press

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ASHINGTON — Conflicting signs about the health of the U.S. economy have thrust the Federal Reserve into a difficult spot.

With inflation raging at a four-decade high, the job market strong and consumer spending still solid, the Fed is under pressure to raise interest rates aggressively.

But other signs suggest the economy is slowing and might even have shrunk in the first half of the year. Such evidence would typically lead the Fed to Federal Reserve Chairman Jerome Powell speaks to the Senate Banking, Housing and Urban Affairs Committee. stop raising rates — or even cut them. >AP Photo/Manuel Balce Ceneta, File For now, though, the Fed is focused squarely on its inflation fight, and this week it’s set to announce can slow growth just enough to tame inflation yet another hefty hike in its benchmark interest rate. not so much as to trigger a recession — a risk that Together with its previous rate increases, the Fed’s many analysts fear may end badly. moves will make borrowing costlier for individuals The Fed’s rate hikes aren’t suited to address and companies and likely weaken the economy all the causes of high inflation. Higher borrowing over time. rates can reduce spending. But they cannot “Until there’s very clear evidence of the labor reverse other factors, notably the global shortages market beginning to meaningfully deteriorate, of food, energy, factory parts and other items, the No. 1 focus for the Fed must be inflation,” which have been worsened by Russia’s war against said Matthew Luzzetti, chief U.S. Ukraine and COVID-19-related economist at Deutsche Bank. shutdowns in China.

After its policy meeting It will also likely take months Matthew Luzzetti, chief U.S. economist, Wednesday, the Fed is expected for the Fed’s higher rates to Deutsche Bank. to impose a second consecutive reduce spending on airline flights, three-quarter-point hike, restaurant meals and other The central elevating its key rate to a range of services. Many economists worry bank is betting it 2.25% to 2.5%. It will be its fourth some measures the economy is barely growing, that this means the Fed will have can slow growth rate hike since March, when if at all. When the government reports Thursday to clamp down even harder on just enough to it announced a quarter-point on growth in the April-June period, it may show consumer and business demand, tame inflation yet increase. Since then, with inflation that the economy shrank for a second consecutive to bring it into balance with the not so much as to setting new four-decade highs, quarter. economy’s restricted supply of trigger a recession. the central bank has tightened Though two straight quarters of negative growth goods and labor. credit ever more aggressively. are sometimes seen as an informal definition of The nation’s June jobs report By raising borrowing rates, the recession, few economists think the economy is in showed that hiring has remained Fed makes it costlier to take out a downturn. Instead, recessions are defined by the healthy, with employers adding a mortgage or an auto or business loan. In turn, National Bureau of Economic Research, a nonprofit 372,000 jobs last month. Employers’ continued consumers and businesses will likely borrow and group of economists. The NBER assesses a broad need for labor has been elevating wages and spend less, cooling the economy and slowing price range of data in determining recessions and places contributing to inflation as companies pass their increases. The Fed’s hikes have already led to a heavy weight on incomes and jobs. Economists higher labor costs on to customers in the form of doubling of the average rate on a 30-year fixed note that employers have added 2.7 million jobs so price increases. mortgage in the past year, to 5.5%, and home far this year, which points to an economy far from Oddly enough, though, despite the robust job sales have tumbled. The central bank is betting it recession. market and its role in keeping inflation high, by

In fact,

Until there’s very clear evidence of the labor market beginning to meaningfully deteriorate, the No. 1 focus for the Fed must be inflation.

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Eduardo Burgos-Suazo,

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COO of ABEXUS Analytics and Professor at UPRCA

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ack in 2015, 193 countries agreed on several desirable global goals that are known today as Sustainable Development Goals (SDGs). Of the 17 SDGs, goal number 11 focuses on Sustainable Cities and Communities. This comes as no surprise when one examines historic population movement data and finds that societies are becoming highly urbanized. As seen in the past few years, this process brings environmental, technological, sociocultural, demographic, and governmental challenges. In fact, it is forecast that by 2040, 65% of the world population will live in cities. Therefore, it is imperative to tackle a roadmap that blends the necessary infrastructure to embrace the demanding realities of the next decades.

Considering the historic juncture and the once-in-a-generation inflow of federal funds to rebuild Puerto Rico after the devastation of Hurricane María, the island is ripe to consider innovative, datadriven solutions to rebuild and face the challenges of tomorrow. Governments all around the world are betting on roadmaps to develop “smart cities”. Let’s dive in!

Smart City… What?

It is likely that on a daily basis one interacts with multiple devices that are interconnected in one way or another like smart watches, wireless earbuds, cellphones, and smart speakers. Maybe at home one controls dimming the lights for certain periods, adjusting the thermostat of air conditioning systems, or even modifying security camera angles, all from a cellphone. These are

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The Journey to Smart Cities Starts with a Single Data Point examples of what is called “Internet of Things” (IoT), which refers to a network of connected devices (mainly through the internet) that are embedded with sensors and software that generate, transmit, and send us vast amounts of data to “make things” happen.

What if… one could implement the same logic to transform a city into a data powerhouse by interconnecting public infrastructure, while also leveraging the potential of data analytics to make smarter decisions?

Even though data generation has increased exponentially, the cost of collecting primary data has also gone up dramatically (particularly in scenarios where probabilistic sampling is required). This roadmap enables cities to produce massive amounts of updated and realtime data at a fraction of the price, thereby empowering governments to transform data into information and information into knowledge, which will optimize city functions and promote economic growth.

It is my belief that this relatively unexpensive technology (IoT) can

bridge the gap between sustainability and urban development strategies, while mitigating the serious data infrastructure problem that the island suffers.

A concrete example of this would be smart roads, which use sensors that collect data on vehicle and pedestrian levels in order to, for instance, optimize and divert traffic according to different conditions.

These sensors could establish population density in different areas of the city to know when and where to deploy police officers, as well as improve public safety. Smart street lights are weather adaptive to boost energy consumption, for example.

That, in combination with smart waste management, will help monitor street bins and collect data on waste levels, which would optimize fuel usage of waste collectors. Within the city, one could even engage citizen participation via different applications in order to report any sort of situation (automatically georeferencing them). In essence, the city would be transformed into a digital platform. Just to name a few

It is my belief that this relatively unexpensive technology (IoT) can bridge the gap between sustainability and urban development strategie…

Eduardo Burgos

examples.

Now, one may believe that the above-mentioned explanation is coming from a science fiction movie or from the wonders of Isaac Asimov’s stories, but… it is no longer a question of if, but when.

Traditional urban planning and development techniques must be evaluated to embrace designs that incorporate data-driven methods that will build and enhance the cities of tomorrow. Let’s welcome a culture of open data, transparency, and data-driven decision-making to city management. Puerto Rico has the unique chance of becoming a model of innovation as it rebuilds and becomes part of the future.

We need to decide whether we would rather stay in the past or create the ecosystem necessary to become part of the select few that will establish sustainable cities and communities over the next decade.

The author is COO of ABEXUS Analytics and Professor at UPRCA.

11

La verdad te necesita para cuidar el futuro.

La verdad no tiene precio.

< The Weekly Journal > Wednesday, July 27, 2022

La verdad es que no podemos ensenarles a ser buenos, tratandolos mal.

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/ Wednesday, July 27, 2022

In fact, Comic-Con makes most of its news as a venue to show off trailers and footage from forthcoming films and TV shows.

Jay Acey, left, dressed as A-Train from the television series “The Boys,” Faeren Adams, center, dressed as Marvel superhero Doctor Strange, and Derek Shackleton, dressed as Marvel superhero Moon Knight, walk together outside Preview Night at the 2022 Comic-Con International. >AP Photo/Chris Pizzello)

The characters and the spectacle of Comic-Con Cosplayers were the self-made stars of the show

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The Associated Press

AN DIEGO, Calif. (AP) – Comic-Con is back in person, and back in character.

The spectacle was everywhere in and around the San Diego Convention Center amid the crowd of tens of thousands of fans at the first full-attendance version of the pop culture phenomenon since 2019.

They came to watch panels and previews from movies like “Dungeons and Dragons: Honor Among Thieves,” and from TV shows like on Amazon’s “Lord of the Rings: The Rings of Power” and Apple’s heavily Emmy-nominated dystopian drama “Severance.”

“Everybody’s just been cooped up for a while, and they had been anticipating this,” said Minneapolis resident Dinh Truong, 34, who came to Comic-Con for the second time. “I was excited to see everybody cosplaying and all that, and just getting back to what we used to be.”

And as they were in years’ past, the cosplayers were the self-made stars of the show, drawing gawking from convention-goers and photographers.

While spot-on cinematic authenticity is the goal for some of the costume wearers, others use their characters as a starting point for broader creativity or expressions of identity.

Kaleigh Kailani of Los Angeles dressed as an especially electric Mad Hatter, with long, shimmering green hair, purple top hat, striped tights and a skirt that looked like layered tutus.

In a Marvel meets Marie Antoinette mash-

up, Kerri Zehrung added a powdered wig and lampshade skirt to her Iron Man costume, and Jasmine Preston gave the same transformation to Spider-Man. San Diego locals Lisa Lower and Shawn Richter used almost the entire color spectrum for their outfits, adding rainbow elements of the LGBTQ pride flag to the metal mask of the Mandalorian from the “Star Wars” galaxy, with an umbrella, suspenders and feathers to boot.

One group of cosplayers were done up in giant masks and plastic clothes as Funko Pop dolls of characters including Wonder Woman, Batman, and Ursula the Sea Witch from “The Little Mermaid.”

When they weren’t acting out their roles, cosplayers led more pedestrian lives. They had to get their fictional weapons tagged as safe by security guards. They sat and looked at their phones. Paul Forest of Toronto, dressed impeccably as the original Mr. Spock from “Star Trek,” got a shoeshine from Daniel Golden, who was dressed as his superior officer Captain Kirk.

Lorelei McKelvey, 54, who is from San Diego but now lives in Yokosuka, Japan, was dressed as Captain Carter, Captain America’s British World War II-era counterpart.

“I had to do one that I could authentically replicate,” McKelvey said. “I went and did my research and found out what were the authentic British officer leathers worn in World War II, and I found manufacturers to actually make those leathers.”

She walked the Convention Center floor in real-as-possible officer cavalry boots and Royal Air Force gauntlets, and carried a 5-pound steel shield.

McKelvey came to Comic-Con and worked a booth for 20 straight years. This is her first time coming as a cosplayer, and her second time coming as a trans woman, and she’s excited to be reunited with the cherished friends she’s made here.

Comic-Con makes most of its news as a venue

I was excited to see everybody cosplaying and all that, and just getting back to what we used to be.

Dinh Truong, 34, two-time Comic-Con attendee

to show off trailers and footage from forthcoming films and TV shows during star-studded megapanels held in Hall H, which holds some 6,000 people. Panels this year included Warner Bros. and the DC Universe’s “Black Adam.”

“Get ready, because the hype is real,” Johnson said in pro-wrestler promo mode on Instagram earlier this month. “Guess who’s coming to town, the most electrifying man in all the DC Universe.”

Marvel may held back its best material for Disney’s forthcoming D23 Expo, but teased with its next film, “Black Panther: Wakanda Forever” and the Disney+ TV series “She-Hulk: Attorney at Law.” A pair of much-anticipated fantasy prequels also gave fans a taste of their worlds. A new trailer dropped Wednesday in advance of a panel from HBO Max showing off the “Game of Thrones” spinoff, “House of the Dragon,” set 200 years before the original series.

Amazon on its part, went back in time 2000 years for “The Lord of the Rings: The Rings of Power,” a tale of the emergence of evil among the elves long before Frodo and Bilbo walked Middle Earth. Their panel this year came 21 years after director Peter Jackson presented footage from the first of the original films at Comic-Con.

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Pope in Canada honors grandparents after apology The event was marked by the Feast of St. Anne, a figure of particular veneration for Canadian Catholics

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Nicole Winfield and Peter Smith – The Associated Press

DMONTON, Alberta — Pope Francis arrived for his first big Mass in Canada on Tuesday to honor grandparents, a day after he apologized for the Catholic Church’s role in severing generations of Indigenous family ties by participating in Canada’s “disastrous” residential school system.

Tens of thousands of people in attendance at government-funded Christian schools from the Commonwealth Stadium in Edmonton, Alberta, cheered as Francis entered and looped around the 19th century until the 1970s in an effort to isolate them from the influence of their families and field in his popemobile, stopping occasionally to culture. The aim was to Christianize and assimilate kiss babies. Accompanying him was a steady beat them into mainstream society, which previous from Indigenous hand drummers.

Canadian governments considered superior.

Phil Fontaine, former chief of the Assembly of In his first event in Canada, Francis on First Nations and a residential school survivor, Monday blasted the residential school policy as urged the crowd to forgive in remarks delivered a “disastrous error” that did “catastrophic” harm. before Francis’ arrival: “We will never achieve At the site of a former school in Maskwacis, he healing and reconciliation without forgiveness,” he apologized for the “evil committed by so many said. “We will never forget, but we must forgive.”

Christians against the Indigenous peoples” and The Mass marked the Feast of St. Anne, the vowed further investigation and grandmother of Jesus and a steps to promote healing. figure of particular veneration Reaction to his visit and for Canadian Catholics. Francis’ words was mixed: Some ode to grandparents was to survivors stayed away and continue later Tuesday with criticized Indigenous leaders’ a prayer service at one of decision to present Francis Pope Francis North America’s most popular with a feathered headdress, apologized for the pilgrimage sites, Lac Ste. Anne, which is a sign of respect. “evil committed by considered to be a place of Others welcomed his apology so many Christians healing. as genuine and praised the against the Francis has long lauded attention his visit has drawn to Indigenous peoples.” the role of grandmothers the horrors of the residential in passing the faith on to school system. younger generations, citing Indigenous leaders urged his own experience with his him to make good on his pledge grandmother, Rosa, while to continue the path of reconciliation with concrete growing up in Buenos Aires, Argentina. For several action: turning over church records about the months Francis has delivered weekly catechism fate of Indigenous children who died at schools, lessons on the need to treasure grandparental funding therapeutic healing programs for survivors wisdom and not discard them as part of today’s and facilitating investigations of those responsible “culture of waste.” for abuses.

That message has great resonance in Canada, Francis “can’t just say sorry and walk away,” where Indigenous families were torn apart by a said Chief Tony Alexis of the Alexis Nakota Sioux church-enforced government policy of forcible Nation. assimilation.

Cree Nation Chief Vernon Saddleback said many More than 150,000 Native children in Canada “survivors and thrivers” in his community were were taken from their homes and forced to attend

In fact,

Pope Francis kisses a baby as he arrives at Commonwealth Stadium to take part in a public mass in Edmonton. >Nathan Denette/The Canadian Press via AP

We will never achieve healing and reconciliation without forgiveness… We will never forget, but we must forgive.

Phil Fontaine, former chief of the Assembly of First Nations

pleased: “Words cannot describe how important today is for the healing journey for a lot of First Nations people.”

Lac St. Anne is a century-old pilgrimage site where the faithful come and wade into the lake.

Francis was to preside over a liturgy of the word service there and bless the waters. In the runup to the pope’s visit, Alberta health authorities issued a blue-green algae bloom advisory for the lake, warning visitors to avoid contact with the blooms and refrain from wading where they are visible.

The lake is known as Wakamne, or “God’s Lake,” by the Alexis Nakota Sioux Nation who live nearby and Manito Sahkahiga, or “Spirit Lake,” by the Cree.

The name “Lac Ste Anne” was given to it by the Rev. Jean-Baptiste Thibault, the first Catholic priest to establish a mission on the site.

Francis’ has said his six-day visit, which also will take him to Quebec City and northern Iqaluit, Nunavut, is a “penitential pilgrimage” to atone for the Catholic Church’s role in the residential school system. It fulfills a key recommendation of Canada’s Truth and Reconciliation Commission, which sought a papal apology to be delivered on Canadian soil.

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/ Wednesday, July 27, 2022

Angelina, an eclectic community of entrepreneurs The cost of starting-up a business leads to a collective effort

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Juan A. Hernández, The Weekly Journal

he entrepreneurial spirit is a family trait for Laura Feliciano, a.k.a. Laura OM. Back in the 1960s and 70s, her grandmother owned and operated an ice plant on Hoare Street, in Santurce, while her grandfather sold chickens. So, it didn’t surprised anyone in her family when she decided to open a beauty salon when she came back from the U.S. in the early 2000s.

“I’ve been an entrepreneur since I was 23… I’ve been in the restaurant business, in entertainment and in cultural venues while still operating my beauty salons,” said the beautician. “Those were additional activities I dived into, but the salons have been a constant.”

… I’ve rented some commercial spaces to small entrepreneurs which are committed to work collectively for our success.

OM Studio beauty salon at Angelina.

of entrepreneurs that could collaborate with each other to develop their businesses and push them forward. “‘Angelina’ is now that space. I have my salons here, and at the same time I’ve rented some commercial spaces to small entrepreneurs which are committed to work collectively for our success,” Laura said. It has always been my intention to support other entrepreneurs that don’t have all the financial resources needed to

Laura OM, beauty specialist and entrepreneur

A Santurce resident, Laura’s sense of entrepreneurship is very connected to the community she lives in. She considers Santurce “the heart of San Juan” not because of a nostalgic memory of a time long gone, but because of its very convenient location –within walking distance from Condado, the beach, Old San Juan and a bus ride away from Río Piedras. Also, Santurce is a diverse community that still manages to stay put, despite the urban sprawling that characterized Puerto Rico during the 1970s and 80s.

With that in mind, Laura bought the building where the old Sal’s Beauty Supplies store was located on Ponce de León Avenue. She was looking for a place big enough as to house a community

“Rizo Adentro” beauty salon at Angelina.

open their own businesses.”

The Santurce businesswoman pointed to the difficulties of opening a business “from scratch.”

“The whole thing is very expensive… from the permits, equipment, utilities, insurance… All these cost a lot,” she said.

At ‘Angelina,’ business owners rent an “all included” space that affords them to start up their businesses without having to get in debt.

Business owners here rent their space with

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/ Wednesday, July 27, 2022

Then, all of a sudden she realized she had been At the moment there are five businesses making more vegan (coconut milk based) flavors operating in ‘Angelina,’ including Laura’s two than regular milk-based ice cream. beauty salons, OM Studio and “Rizo Adentro.”

Vía Láctea clients are diverse. “I see them OM Studio is a professional salon that offers its clientele all beauty services, walking around in their robes, from cutting and styling, to hair rollers and little aluminum dyeing and makeup. On the pieces on their hair and talking other hand, “Rizo Adentro” is about what they are getting what is now known as a ‘blow done to their hair. They buy their bar’ that specializes in quicker, ice cream and go back to the less complicated services, such [beauty] salon. A little later they At ‘Angelina,’ as blow drying, and styling. come back to show me how they business owners Laura also offers custom look with their new hairdos,” rent an “all included” hair dyeing –with colors mixed Alicea said. “It’s very cool.” space that affords to order in her own color them to start up room– and her own lines of their businesses Cafelera (coffee shop) hair care products –OM My without having to get This coffee shop is the first Goodness and Maranta Power. in debt. thing you see walking down Other members of the ‘Angelina’s’ main hallway, right ‘Angelina’ community are: under the stair to the second floor –hence, Cafelera, a mashup Tereques-La Tiendita between the Spanish words for An arts and crafts and accessories shop, coffee (café) and stair (escalera).

Tereques has a diverse inventory from women “This is a small space, but is cozy and it looks artisans that design their own jewelry lines, crafts nice,” said owner Addiel Rivera. and art pieces.

“The best thing here is that there are other “Aside from being an incubator for emerging businesses here and people have the chance of brands, Tereques is also a tool for the getting their hair done, which takes a little time, development of those brands,” said owner Belisa and have a cup of coffee, or maybe a sandwich, Álvarez, who is convinced of the benefits of while they wait.” collective work.

Laura assured her business successful enough “This is not just about the financial advantages, for her to assume the full cost of its operation, “but that is not my mission as an entrepreneur or as a but also about business and emotional support,” person.” she added while catering to one of the salon’s “My mission as an entrepreneur is being able customers waiting for her hairdo to be finished. to lend a hand to someone that is in the same situation I was 20 years ago,” she said.

Vía Láctea (ice cream shop) Lorivie Alicea started out making regular ice cream, but her business partner Reinaldo Sánchez is lactose intolerant, so she decided to do some batches of vegan ice cream so he could enjoy a good sundae.

In fact,

Tereques-La Tiendita, accesories and crafts shop at Angelina.

utilities and insurance included in their rent.

“We try to do everything collectively. We hold events where everyone has the chance to benefit and we all help each other. We even try to make decisions together, as a community,” Laura said.

Cafelera, the coffee shop under the stairs, at Angelina.

Vía Láctea ice cream shop at Angelina.

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