Robbie Whelan
@RWhelanWSJ
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I cover Hollywood for @WSJ . Writing a book on Bob Iger’s @Disney for HarperCollins/WM. Lover of bluegrass, @Steelers @FCBarcelona @Bucks robbie.whelan @wsj .com
PGH—Bmore—NY—CDMX—LA
Joined April 2010
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WaPo: U.S./Mexico close to a deal to avoid tariffs. Mexico has proposed sending 6,000 troops to its southern border w/ Guatemala and what sounds like a modified version of a “safe third country” agreement. Unclear how close or if it will satisfy Trump.
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Mexico's gasoline supply is paralyzed by closed fuel pipelines, but there are other factors: Pemex refining and downstream infrastructure are a mess, AMLO has stopped importing U.S. light crude, and January daily import volumes are down 45% from 2018:
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A lot of Mexican Twitter is retweeting this story as proof that AMLO caused the gasoline crisis on purpose by cutting imports of U.S. fuel and light crude, and is using the huachicol crackdown as a pretext.
I urge you all to subscribe to
@WSJ
b/c that's NOT what the story says.
Mexico's gasoline supply is paralyzed by closed fuel pipelines, but there are other factors: Pemex refining and downstream infrastructure are a mess, AMLO has stopped importing U.S. light crude, and January daily import volumes are down 45% from 2018:
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Carlos Slim made a last ditch effort to save the new Mexico City airport, sending a handwritten note to AMLO offering to take it totally private and take on much of the risk himself. His entreaty fell on deaf ears. Great story by
@andreanavarror
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Aquí véanse el análisis correcto y sin asunciones sobreexcitadas de mi nota. Es hecho que las importaciones de combustible y crudo ligero de los EU bajaron notablemente, pero de mi reportaje no se puede concluir que la crisis de desabasto fue manufacturado por voluntad de nadie.
Pues resulta que sí bajaron más importaciones de gasolina estadunidense, según una fuente especializada que consultó The Wall Street Journal: en diciembre fue 28% menos que en igual mes de 2017; y en lo que va de enero, 43% menos que en el mismo periodo del año anterior.
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A mom complains on Twitter about how unsafe she feels in Mexico City.
A top city government official replies (in public!) by telling her to look at falling crime stats, then says sarcastically she must miss the opacity of the prior administration.
Talk about bedside manner!
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Regardless of whether or not the salaries are accurate the fact remains that the state oil company in the world's 8th-largest petro-exporter country is an agronomist with zero experience in the energy sector. And his country is in the middle of a gasoline shortage crisis.
Don't know how accurate this is, but it compares CEOs of oil majors to that of Mexico's Pemex, the state run firm currently struggling to combat a gasoline shortage.
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Mexico's Hidalgo state gave a contract to a firm owned by the son of Manuel Bartlett, head of Mexico's public power utility and a veteran PRI politician, to produce 20 ventilators at ~$62,000 each. That's 4x the price GM is charging to manufacture them.
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@JorgeRamosNews
gives the Mexican press corps a clinic in how to demand answers from AMLO at his daily press conferences. Be respectful, give minimal context and say exactly what you want to know. Too often the mañaneras are a complete waste of time, a circus of sycophancy.
Ojo. Vean a
@jorgeramosnews
confrontar al poder con la verdad, hacer preguntas incómodas/difíciles que el presidente con frecuencia evade, enseñar cómo deberían ser la mañaneras: un ejercicio de rendición de cuentas producto de un periodismo punzante. 👊
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Now that January is over, numbers are in: Mexico's Maritime gasoline imports in 01/2019 were down -23%, YOY, -26% MOM, despite
@lopezobrador_
's insistence that Mexico was "buying" more fuel. Helpful report in Spanish from
@ClipperData
and
@amir_richani
:
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@JohnMAckerman
No, John, once again you’re attacking an article you’ve either not read or not grasped.
We reported that imports of US gasoline fell “under AMLO” — so from Dec. 1 to Jan. 10, compared to a year earlier.
We also specified that the YOY drop in Jan. was 45%.
I’m always careful.
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"RRR" is a way better movie overall than "Avatar: The Way of Water," and I'd argue it's more visually stunning, unless you prefer Magic Eye posters to, say, Monet
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Been on the tarmac for an hour at Benito Juárez after arriving on a domestic flight, pilot saying the airport is “totalmente saturado,” meaning we’ve been waiting for a gate longer than we were in the air...
Remind me again why Mexico City doesn’t need a new airport? Too fifí?
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AMLO’s assertions that the
@WSJ
is “not serious” and mistaken never really rattled me: we don’t make things up out of thin air. What’s troubling is the knee jerk assertion that just because the President doesn’t like a story, it must be wrong and merits an ad hominem attack.
Report from
@Pemex
(quintisential Friday afternoon data burial) shows Mexico’s January gasoline imports fell SEVENTEEN PERCENT (17%) from a month earlier -- despite
@lopezobrador_
's adamant denial of
@RWhelanWSJ
's story that imports were dropping.
On
@TheTerminal
@amystillman
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“Facebook, Instagram and WhatsApp, together attract more than 3.5 billion average monthly users—a figure equivalent to almost half the world’s population. Horizon is currently reaching less than the population of Sioux Falls, S.D.”
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Mexico’s TV Azteca, controlled by billionaire
@RicardoBSalinas
, is in default on its bonds after skipping two payments of $16.5 million each over the last year, and faces creditor threats to seize collateral.
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El Financiero crunches numbers from Mexico’s Energy Ministry to confirm the story we first published January 9th using
@ClipperData
numbers: imports of gasoline were way down at the beginning of January, as a result of bottlenecks caused by pipeline closures.
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Very strange ad from the new Mexican Tourism Ministry. It's mainly about AMLO's election and how he's going to "change the paradigm," "renew morality," "transform the life of the people" and end corruption. A "new tourism model" is mentioned, but not explained.
Este video presentando la estrategia turística del nuevo gobierno parece hecho para ahuyentar turistas y adoctrinar adeptos. No presenta un plan; más bien hace propaganda política. Y la frase célebre: “los datos y cifras a veces deforman la realidad”.
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A story on Corona, but the kind you drink.
“Planes, Trains & Beer”
AMLO’s referendum is on a $1.4b Constellation brewery in Mexicali. Voters will decide tomorrow whether it goes forward.
An example of why investors have little confidence in Mexico.
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AMLO just returned from a mini tour of the Yucatán to promote the Tren Maya. Here’s my in-depth look, with amazing photos and graphics, at the megaproject, and the debate between economic development and preserving Mexico’s fragile ecosystems:
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@JohnMAckerman
@lopezobrador_
How is that “bad faith”?
The article says quite simply that the closed pipelines are not the only reason for the shortages. There are also:
- Lower gasoline imports
- No more imports of US light crude
- inefficient refineries
- insufficient storage and transport infrastructure
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Preliminary results show that
@NayibBukele
, the outsider who ran on an anti-corruption platform with promises to invest in youth programs, has won El Salvador's presidency. With 88% of votes counted he has 53.8%, more than
@FMLNoficial
and ARENA combined, avoiding a runoff.
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I wrote about parosmia, a bizarre Covid side effect that makes people smell unpleasant odors like rotting meat or burning tires. Good news is, it's a sign that the body is recovering from neurological damage and it's helping us understand the virus better.
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How Mexico’s second richest man, Ricardo Salinas, secretly gained control of and profited handsomely from the sale of a defuct fertilizer manufacturer called Fertinal, now at the center of huge corruption scandal in Mexico. My story with
@PerezEnMexico
:
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“You can’t build a monster refinery like this, at this low a cost, on such a short timeline. López Obrador will have to sacrifice one of those things. That’s what the companies that were bidding on this project are saying” -
@GMonroyEnergy
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@RodCiudadano
No, I have not concluded that, nor does the article I wrote. I concluded that lower imports are one of several factors behind the shortages. They are also a consequence of the closure of the pipelines, as I explain in the story.
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Échate un vistazo a esa historia. Es muy, muy fuerte el tema. Una brutalidad.
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@JohnMAckerman
John, you can read as well as I can — that article deals with the period up through November 2018, before AMLO took office. Our article uses data from a shipment tracking company and interviews with energy industry sources related to import volumes in Dec. 2018 and Jan. 2019.
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Mexico’s foremost historian and critic of caudillismo: “Rejecting the dictator Maduro is not supporting the fascist Trump. It’s supporting the democratic will of the Venezuelan people.”
Rechazar al dictador Maduro no es apoyar al fascista Trump. Es apoyar la voluntad democrática del pueblo venezolano.
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In early 2018 I interviewed Mexican Energy Sec
@rocionahle
. She said oil rights auctions will be suspended until it can be determined if previous awards were "good for the Mexican people."
I asked her, who will determine that?
She pointed to her chest and said, "Me. I will."
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Cartel Jalisco Nueva Generación pumping up their leader, El Mencho, in a video where they resemble nothing short of a private army operating with impunity in Mexico
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Re: AMLO's comments today that he has "other stats" than WSJ or Bloomberg on fuel imports, here is a chart released this week by INEGI showing a steep decline in petro-products imports in Dec. Using
@ClipperData
numbers has been helpful because they are real-time thru January.
@elmisterSi
@DBeckerF
es verdad que crecieron las exportaciones, y también que cayeron las importaciones de petrolíferos en diciembre
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A pattern has emerged with AMLO and his Morena party: if he doesn’t like an autonomous body that checks his power, like a regulator or court, he attacks it and cuts its budget. The latest target:
@garcialcocer
of the
@CRE_Mexico
. Our story:
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Trump says "no way" to Toyota Corolla plant in Mexico, except he gets location wrong - it's in Guanajuato, not Baja:
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This story’s Deep Throat is Ric Erwin, head of the Fraternal Order of Real Bearded Santas, who recorded calls with loose-cannon HHS spokesman Michael Caputo about a bizarre vaccine-access-for-PR campaign that has since been scrapped by the Trump admin.
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Tankers unloaded nearly 800,000 barrels of fuel at Minatitlán and Tuxpan on Saturday, easing congestion and raising the daily import avg, but Mexican imports of US gasoline since of AMLO’s term began are down 25% from the year-earlier period. via
@WSJ
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Today Frida, the heroic Mexican Navy rescue dog, retires. During the Mexico City earthquake of 2017, she became a symbol of national hope and a sign of trust in the Mexican armed forces. I profiled Frida in the
@WSJ
here:
At ease, Frida. Good girl!
La amada Frida se retira este día. Por los sismos de septiembre de 2017 fue que más supimos de ella, pero en su carrera hubo una infinidad de rescates y labores que muchos humanos le agradecen.
Por siempre, Frida.
Foto:
@jaz_adrian
.
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AMLO plans to leave the Mexican army on the streets, fighting crime. Last night, he swore to Televisa that he's never said otherwise, and invited journalists to prove that he had. Well, here's the proof. His stance on using the army for domestic law enforcement has long been anti
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Nayib Bukele, the social media savvy, 37yo ex mayor of San Salvador, is poised to win the presidency of El Salvador. If elected he’d be the “death blow” to 30 years of FMLN/ARENA hegemony and the latest maverick populist to gain power in LatAm. My story:
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Mexico's president congratulates Trump on his victory, and makes a plea for the U.S.-Mexico bilateral relationship
Felicito a EUA por su proceso electoral y le reitero a
@realDonaldTrump
la disposición de trabajar juntos en favor de la relación bilateral.
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This is remarkable. Gasoline offload in January at Tuxpan, a key port supplying Mexico with fuel, was half the monthly average level over the last two years. Not being able to get gasoline into the country certainly can't be helping end Mexico's fuel shortage crisis.
#Gasoline
imports into Tuxpam over the last two years have averaged 215kbd in 2017 and 208kbd in 2018. Imports so far in January are less than half that at 100kbd amid port congestion.
#ClipperData
#OOTT
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Ricardo Salinas Pliego, Mexico’s 2nd-richest man, has extensive ties to companies that owned shares in Fertinal. Pemex bought Fertinal in 2016 at a price the gov’t says was inflated by ~$200m. The deal is now the subject of multiple corruption probes.
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Justice Mr. Sergio Moro, Brazil's corruption crusader & prominent right-wing politician has resigned over dispute with/ president, saying Bolsonaro wanted to co-opt federal police investigations. Bad sign for Bolsonaro and viability of his gov't going fwd:
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At a crucial moment, resource nationalism overruled economics and the AMLO administration ended the previous government's imports of light crude oil from the U.S. The result was likely that Mexico's fuel shortage crisis was made worse. My story:
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A Milenio reporter was threatened this year after asking AMLO about corruption in his social programs. "The harassment has intensified in recent weeks with sexual and death threats on Twitter. One included a photo of a corpse wrapped with plastic bags."
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Avg. daily Mexican imports of gasoline:
Dec. 2018: 601k
Jan. 2019: 814.5k
according to
@rocionahle
's Energy Department.
The numbers in our story from this weekend referred only to seaborne imports from the U.S., and these numbers refer to fuel from all countries... 1/2
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Leo has the correct reading of the story. Thank you, Leo.
El Wall Street Journal confirma que PEMEX redujo la importación de gasolina desde Estados Unidos, así como la importación de petróleo ligero, utilizado para refinar gasolina.
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Thanks to this article I now have Big Star's "In The Street," the greatest sitcom opener selection of all time, on repeat in my head.
When Wilmer Valderrama found out “That ‘70s Show” was ending, he knew he wanted that Vista Cruiser. “Every time I see it, I am 18 again, embarking on this adventure with my best friends, my brothers and sisters, and we’re shooting the opening sequence.”
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Fitch, Moody's and now S&P downgrades of Pemex debt have really gotten under the skin of Mexico's ruling Morena party. Here, the president of the Senate says that ratings agencies that maintained Pemex's investment grade thru years of corruption and output declines arent credible
Una calificadora que no pudo o no quiso calificar la corrupción, el derroche, la caída de la producción y el robo de combustible está descalificada para calificar el cambio.
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Just learned the Spanish word for "snuggle" -- "apapachar" -- que bonita palabra
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“There are rarely any girls in the Hot Girl Summer Rooftop Pool Party, and in Murder Village there is often no one to kill. Even the company’s showcase worlds, such as Questy’s, a virtual arcade featured in a Super Bowl commercial earlier this year, are mostly barren of users.”
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An investor went on the record to say this after meeting and hearing from the new Pemex CFO Alberto Velazquez:
“The CFO had no handle on the company and was not impressive at all...AMLO’s problem as he tapped him for the job...He has to go.”
Yikes!
Pemex New York Roadshow Backfires as Investor Concerns Grow
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Puebla Governor Martha Erika Alonso and her husband, ex-governor Rafael Moreno Valle, die in a Christmas Eve helicopter crash. One of the most powerful political families in Mexico, big loss for the opposition PAN party.
@ElFinanciero_Mx
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Gun battles erupted on the streets of Culiacán today after El Chapo's son Ovidio Guzmán was arrested. One exclusive detail: He was released on orders from top gov't officials after they were informed that at least six soldiers were being held by gunmen.
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This is a great story.
Mexico is super under-banked. International banks charge Mexican customers ridiculous fees, much higher than in their own countries.
The new Morena Congress wants to cut fees. But that would likely curb lending and cause branch closures. Catch-22.
I'd always heard bank fees were high in Mexico. But once I dug around I realized how bad it is.
Citibank and HSBC charge close to $50 for a bounced check. That's more than 2 days' pay here!!
Citi only charges $34 in the US, and Americans earn much more!
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The honeymoon between Andrés Manuel López Obrador and investors is over. Cancelling the airport and insisting on “popular polls” to decide major policy issues is spooking markets. Everyone’s worried that reversing the oil reform is the next shoe to drop.
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Interesting article on how a host of pro-AMLO social media accounts provoke attacks by commenters on reporters who dare ask the president challenging questions.
“Hay un ambiente polarizado, estás con López Obrador o contra él. Se ha generado un estigma en contra del escrutinio”
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The recent fuel shortages made people even less receptive to orders from police, the commander said. “If there’s another spill, they will gather again. It’s out of necessity.”
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S&P cuts outlook on Mexico from stable to negative, citing "a recent shift in government policy to reduce private-sector involvement in the energy sector," falling investor confidence and lower GDP growth, raising possibility of a sovereign downgrade:
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Mexican state oil company Pemex making it crystal clear how new management feels about previous president Enrique Peña Nieto's opening of Mexico's energy sector to private investment. New logo for Twitter says: "For the Recovery of Sovereignty"
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“According to internal statistics, only 9% of worlds built by creators are ever visited by at least 50 ppl. Most are never visited at all.
‘An empty world is a sad world,’said a document summarizing the company’s efforts to herd users toward venues where theyd encounter others.”
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Mexico says it is upping overall gasoline imports in order to address the ongoing fuel shortage, but we still don’t know all the details of the logistics or sources of increased imports.
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A father with his two young kids in Culiacan today, crouched by the side of their car until gunfire stops
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Bob Iger weighs in with support for Damar Hamlin after one of the worst NFL injuries in recent memory was broadcast live on Disney-owned ESPN.
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Twitter supporters of
@lopezobrador_
are boycotting Kimberly-Clark, seller of Kleenex and diapers, because its CEO said on a 3Q earnings call that bc of weak economic growth and worrisome gov't policies, it won't invest in Mexico in the short term:
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No one ever became a billionaire without mastering the art of milking the government for taxpayer-funded subsidies.
This story is amazing. by
@thetrough
and
@bykowicz
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Newly-installed Mexican Supreme Court justice Yasmín Esquivel -- who is the wife of close AMLO associate and construction magnate José Maria Riobóo -- argues that the legality of abortion should be decided by local congresspeople because they know their districts best.
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Mexico's state-owned electric utility CFE could pay $17.70 per megawatt hour of power using long-term contracts with private renewables suppliers. Instead, it pays >$30/mh to generate its own power using fossil fuels, at the expense of consumers and the environment, per
@Reforma
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The
@NFL
only wants you to be "aware" of breast cancer during October. Otherwise, pink interferes w/ branding, sorry
http://t.co/spTceswLV6
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Troubling story. Also, it’s amazing how a Disney vacation has become this totem of rising costs and household debt. LendingTree found recently that 18% of Disney theme park visitors take on debt to pay for their vacations, but 70% of them don’t regret it.
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AMLO calls Mexicans Against Corruption and Impunity -- the media outlet that revealed alleged corruption by son of top gov't official Manuel Bartlett -- "Mexicans in Favor of Corruption" to try and discredit the report. Hard not to hear Trump's "Fake News CNN" etc in his response
Le preguntan al presidente por la sanción que impuso la
@SFP_mx
al hijo de
@ManuelBartlett
por el tema de los ventiladores y contesta que no está muy enterado y que no le genera mucha confianza la investigación periodística que la detonó.
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While most of the world pulls back in investing in energy amid the crash in oil prices and the demand shock caused by coronavirus, Mexico President Andrés Manuel López Obrador is doubling down on Pemex ‘in order to save Mexico’
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We all know about El Chapo the drug trafficker, torturer, and cold-blooded killer, but what about Chapo the salesman, finance chief, people manager and CEO? Great yarn by
@SamWalkers
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Not really clear what this would mean. Pemex files public financial reports, Mexico's sovereign debt is widely traded, and all three of these ratings agencies are based in the U.S., so there's no way to keep them from publishing reports and assigning ratings to securities.
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Carlos Chamorro (
@cefeche
), the editorial director of Confidencial, is one of the smartest journalists in all of Nicaragua. He's also a fierce critic of Daniel Ortega, who's rapidly becoming a dictator on the order of Somoza, the right-wing authoritarian he fought in the 70s.
Nicaraguan police ransack Confidencial, one of the few independent media outlets still functioning under Ortega's authoritarian gov
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This includes the agency's consumer confidence survey and surveys related to agriculture, household technology, and child labor.
INEGI, the most reliable government agency for statistical information on Mexico, is facing an MX$500 million budget cut, meaning that 14 surveys will be affected/canceled.
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Deaths from Friday’s blast at a Pemex fuel pipeline in Hidalgo rise above 70z The tragedy puts AMLO in a tough spot: those who died were locals likely out to earn some extra money. But they were also thieves committing a crime. How will he describe them?
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“It’s middle-class Mexicans who are most affected...’Those of us who have worked hard to get a university degree, to become professionals, we are not going to risk losing what little resources we have over someone’s erratic decisions.’” by
@Isabella_CS
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It is worth pointing out that the mom in question was a civil servant with a similar job to Merino’s in a previous CDMX government.
Still, this is the public tone that Mexico City’s administrators have chosen to adopt in the face of a persistent public security problem.
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Televisa cancels TV show hosted by controversial newspaper columnist
@RicardoAlemanMx
after he posts tweet suggesting that maybe a supporter of leading presidential candidate
@lopezobrador_
might assassinate him. He says the tweet was a joke. Not a very good one, surely.
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Ricardo Salinas Pliego is President López Obrador's favorite billionaire. He's also part-owner of a tech startup that was trying to put tablets and digital payment systems in Mexico City's 140,000 taxis that is now suing AMLO's government for $2.4 billion.
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Today at his morning press conference,
@lopezobrador_
responded to a question on the 20+ tankers waiting in the Gulf of Mexico to unload their cargo and appeared to describe that gasoline, which México, plagued by fuel shortages, doesn’t have yet, as part of “our inventory”
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Mexico is slipping toward a recession even as the U.S. economy grows, the first time since the Tequila Crisis 25 years ago that the neighbors’ economic cycles have fallen sharply out of sync.
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Mexican Senator from AMLO’s party says femicide is “a product of neoliberalism” and that female factory workers on the border were its “first victims.”
Among other problems w/ this argument, AMLO has repeatedly said the “neoliberal era” is over— yet femicides in Mexico continue.
Es cierto. El feminicidio, como se conoce en nuestros días, es producto del neoliberalismo. Ciudad Juárez lo demuestra. Trabajadoras de las maquilas fronterizas, lejos de sus ciudades de origen y sus familias, sin red de protección social, fueron las primeras víctimas.
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The implication here is that imported cars -- 40% of which come from Canada or Mexico, the U.S.'s two Nafta trade partners -- are a threat to U.S. national security. What's unclear to me is how Section 232 tariffs like this can withstand challenges under FTAs or WTO rules.
NEW: Trump administration plans to launch Section 232 investigation into imported vehicles, with the intention of imposing tariffs of up to 25% on them
with
@willmauldin
@TimPuko
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Each year, about 500 wealthy Mexicans travel to Vail, Colo., to ski and socialize. This year, they brought back an unwanted stowaway: the coronavirus. Our tale of how Covid-19 penetrated the Mexican 1%, and how it's stoking class tensions across the globe:
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Carlos Slim played peacemaker, hashed out an agreement between AMLO and pipeline operators Ienova, TC Energy, Fermaca and Carso. Mexico pays more up front but contract fees are reduced and terms extended. Now let’s see if they can close the deal.
#scoop
:
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Bob Chapek has long evangelized for a management framework called ARCI (or RACI), that holds that for every big decision, you have to find someone who's Accountable, Responsible, Consulted and Informed.
In meetings he'd say, "Who's got the 'A' on this?"
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"IMSS administers a health system that cannot be described as anything but miraculous." Mexico's social security health insurance program covers 68 million people -- roughly the same as the NHS in the UK -- on one-tenth the budget. Cutting it further is "inhumane," Martínez said.
Germán Martínez, Mexico's social security chief, quits over healthcare cuts, AMLO's first cabinet resignation.
The context is here in this
@jorgeacast
column, which argues Mexico is cutting healthcare in order to rescue Pemex:
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Mexican Senate Prez, of ruling Morena party, says there are two types of autonomy:
Nat'l Autonomous University, Human Rights Commission, Electoral Institute and Self-Governing Indigenous Areas = Good Autonomy
Oil Regulators, Antitrust Commission and "others" = Bad Autonomy
Hay de autonomías a autonomías.
La autonomía de la UNAM, CNDH, INE y Pueblos Indios fortalece a la sociedad.
La autonomía de la CRE, CNH, COFECE y otras es para fortalecer a los consorcios privados frente a las empresas públicas.
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"With $106b in financial debt, Pemex would likely see borrowing costs soar" [in event of a downgrade.] After Brazilian state oil firm Petrobras had $41b of its bonds classified as junk in 2015, its financing costs jumped from $1.6b to $8.8b in one year."
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