February 22, 2020         
BodyLogicMD Announces $5,000 Scholastic Scholarship for Medical Students Interested in Pursuing a Career Focused in Achieving Be   •   Methodist Le Bonheur Healthcare, Urban Child Institute Introduce Babies to Books through Pilot Program at Methodist South Hospit   •   SmartBear and Drift Present Candid Panel Discussion to Spotlight Racial Challenges in Tech   •   Tutors International Reports Record Requests for Private Tuition in Central and South America   •   Tropical Smoothie Cafe Provides a Winter Wonderland for Families at Camp Sunshine   •   The Association of Black Cardiologists Celebrates Fourth Annual Heart Valve Disease Awareness Day in Harlem   •   ADDING MULTIMEDIA Clean Beauty Meets K-Beauty: Feminine Care Brand Rael Expands Into Wellness Skincare Products   •   2nd STREET USA, Inc. to Open First East Coast Store on February 22, 2020, in Manhattan’s NoHo Neighborhood   •   Survival Guide for Allergy Season: Latest Tips According to Shirin Peters, M.D. With Bethany Medical Clinic   •   The Stellar Gospel Music Awards Announces Talent Lineup For 35th Anniversary Show   •   Jamul Indian Village Tribal Leaders to Speak at TGPN's 2020 Women in Tribal Gaming Symposium   •   Victims Of Chipotle's Alleged Child Labor Violations To Hold News Conference In New Jersey   •   LeapFrog® Announces New Blue's Clues & You! Toys Joining Expanded Infant and Preschool Learning Toy Collection   •   HITN’s Inaugural ¡Tú Cuentas! Cine Youth Festival Announces Call for Entries   •   The Mexican Ministry of Tourism Has Been Recognised by Queer Destinations and the International Gay & Lesbian Travel Associa   •   Blake Shelton Joins the Lineup for the 2020 ‘iHeartCountry Festival Presented by Capital One’   •   CEMEX Announces Ambitious Strategy to Address Climate Change   •   Yellowstone Co-Creator Taylor Sheridan Signs Overall Production and Development Deal with ViacomCBS Entertainment & Youth Br   •   L.O.L. Surprise! by MGA Entertainment Snags Prestigious "Toy of the Year" Award for Third Straight Year   •   RRD’s Customizable Kits Streamline the Path to a Better Brand Experience
Bookmark and Share

Coalition Seeks Investigation Of Rum 'Deal'

WASHINGTON  - The Board of Directors of the National Puerto Rican Coalition (NPRC) have announced they have made a formal request to the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) to investigate a deal between Diageo, a UK-based liquor conglomerate, and the U.S. Virgin Islands.  (http://www.nprcinc.org/files/NPRC DOJ letter.pdfhttp://www.nprcinc.org/files/NPRC SEC letter.pdf)

"Diageo has structured an unusual and highly suspect agreement with the government of the U.S. Virgin Islands," said NPRC Chairman Miguel Lausell. "American taxpayers deserve to know why a British-owned company should receive $6 billion from U.S. taxpayers to create only 40 jobs."

"This is a sweetheart deal of such epic proportions that it should shock the conscience of every Member of Congress," said NPRC President & CEO Rafael Fantauzzi. "The subsidy to Diageo is worth about twice the cost of its rum production. The cost of producing a 'proof gallon' (a measurement of alcohol) of rum in a Puerto Rico distillery is $3.07. Diageo stands to receive$6.38 in direct payments for producing the same rum.

"What's most troubling about this sour deal is that Federal and State officials involved in sanctioning it have close personal ties. That is why we are demanding investigations from the Department of Justice and the Securities and Exchange Commission into whether the activities and actions that led us here directly violate or otherwise seek to circumvent U.S. laws and regulations.

"Investigators should ask: How can a publicly-traded company secure a deal so sweet that it is guaranteed profits that exceed 100 percent annually for up to 60 years? How can a corporate entity guarantee revenue inflows to its shareholders, when the 'rebates' are based on a strictly discretionary federal program that Congress may change or eliminate in any given year? In fact, Congress has modified the 'rum cover-over' formula several times over the last few decades.

"We must question whether those involved have something at stake in this deal. We should demand that every one of them be asked, under oath, if they will be receiving any kind of compensation or future deals from this transaction."

For a copy of the press statement:     CLICK HERE


STORY TAGS: HISPANIC , LATINO , MEXICAN , MINORITY , CIVIL RIGHTS , DISCRIMINATION , RACISM , DIVERSITY , LATINA , RACIAL EQUALITY , BIAS , EQUALITY



Back to top
| Back to home page
Video

White House Live Stream
LIVE VIDEO EVERY SATURDAY
Breaking News
alsharpton Rev. Al Sharpton
9 to 11 am EST
jjackson Rev. Jesse Jackson
10 to noon CST


Video

LIVE BROADCASTS
Sounds Make the News ®
WAOK-Urban
Atlanta - WAOK-Urban
KPFA-Progressive
Berkley / San Francisco - KPFA-Progressive
WVON-Urban
Chicago - WVON-Urban
KJLH - Urban
Los Angeles - KJLH - Urban
WKDM-Mandarin Chinese
New York - WKDM-Mandarin Chinese
WADO-Spanish
New York - WADO-Spanish
WBAI - Progressive
New York - WBAI - Progressive
WOL-Urban
Washington - WOL-Urban

Listen to United Natiosns News