December 28, 2002 |
When Bank of America Corp. announced a couple of weeks ago that it was expanding more aggressively into the business of helping Mexican immigrants send money back to their homeland, you might have thought that a money-transfer company such as Sigue Corp. would become alarmed. As Sigue Vice President Manuel Diaz sees it, though, it's the big bank that should worry.
December 15, 2000 |
Drenched by downpours, Guillermo de la Vina wandered the agricultural outposts of Oregon and Washington in a thin raincoat and polished shoes, courting immigrant owners of small markets and stores. The businesses were rundown, planted in the mud of one-street towns. But De la Vina knew they could be gatekeepers for billions of dollars that Mexican migrant workers send home yearly.
March 17, 1993 |
The hunt for overseas connections to the World Trade Center bombing intensified Tuesday as federal investigators said that they have identified a man in Germany as the source of a cash payment to a New Jersey man charged in the case. The man wired funds from Duesseldorf to the Jersey City, N.J., bank account of Mohammed A. Salameh nine days before the bombing, authorities said.
CALIFORNIA | LOCAL
July 19, 1996 |
Moving aggressively into the billion-dollar market for cash transfers to Mexico, U.S. postal authorities Thursday kicked off a new service allowing residents to send money orders south of the border with expedited delivery and guarantees of payment or reimbursement. The Postal Service, in collaboration with Mexican officials, unveiled the initiative--known as Giro Express, after the Spanish word widely used for such transfers--at the Mexican Consulate in Los Angeles.
November 7, 1997 |
Every two weeks, Alfredo Cervantes sends home all the money he can spare--$50, $100, sometimes $200. Saving the cash from his factory job has been tough, Cervantes said, but getting it to relatives in the small Mexican town of Sahuayo has been even tougher. Money orders disappeared in the mail. Dollars sent through an informal cross-border network were stolen. Friends who traveled to Tijuana to deposit money in Mexican banks were robbed at knifepoint.
December 30, 1991 |
The bills crunch with the satisfying newness of uncirculated currency. As Luis Carlos Ortiz counts out the $1,200 that he sends to his family in Colombia every month or so, he smiles in the knowledge that he has done well since he left home five years ago. "I buy and sell things-- self-employed," he says with a shrug, handing the money to a transfer agent who will see it safely on its way. The money Ortiz sends makes life a little easier for his 12 brothers and his parents.
February 3, 1995 |
Socrates Galindo doesn't like to wire money to Mexico. He prefers to take a check with him so that he can buy gifts and give them in person when he visits his family in Acapulco. But the 32-year-old Galindo, who works at an antique store in Laguna Beach, has changed his custom of late. His younger brother, Alejandro, is having a birthday soon, so Galindo sent a few dollars for the celebration. Because U.S.
August 8, 1991 |
The BCCI scandal has blown up a roaring political storm in Peru, where opponents of former President Alan Garcia are attempting to link him to bribes allegedly paid in exchange for official Peruvian deposits of $270 million in the bank. At a news conference Wednesday, Garcia called a congressional committee's investigation of his finances "a scandalous witch hunt," and he denied that he had anything to do with the Bank of Credit & Commerce International or any bribes.
November 29, 2001 |
Cash remittances from Mexican immigrants in the United States continued to grow over the third quarter, rather than decline as some immigration experts expected. The Mexican central bank said remittances were $2.358 billion in the quarter, up 40% from a year ago. Remittances now represent Mexico's second-largest source of foreign exchange after oil sales. Total remittances for 2001 are on pace to top $9 billion, compared with $6.28 billion last year.
October 3, 2006 |
PG&E Corp. on Monday lost a U.S. Supreme Court appeal aimed at thwarting California's effort to recoup $5 billion transferred by the company's Pacific Gas & Electric utility unit before its 2001 bankruptcy filing. The justices, without comment, refused to consider PG&E's arguments that California Atty. Gen. Bill Lockyer could press his case only through the U.S. Bankruptcy Court process and not in state court.