Misplaced Pages

#209790

80-717: The coliseum opened on September 4, 2004 after a prolonged construction financed by the Government of Puerto Rico . This venue is owned by the Puerto Rico Convention District Authority, a public corporation of Puerto Rico , and managed by ASM Global . It can accommodate up to 19,000 spectators and can be reached by the Hato Rey Station of the Tren Urbano system. The arena hosted the first WWE pay-per-view event outside

160-471: A referendum , not on a particular constitutional amendment as such, but on the general concept of switching from a bicameral to a unicameral system which was held on July 10, 2005. Attended by less than 25% of the islands' electorate, Puerto Rican voters approved the change to a unicameral legislature by 456,267 votes in favor, versus 88,720 against. ( Voter turnout was 22.6% of the electorate.) Almost four years later, incoming Governor Luis Fortuño (from

240-541: A $ 568 million portfolio of non-performing loans to a joint venture between Caribbean Property Group and funds affiliated with Perella Weinberg Partners . In 2014, Popular Community Bank sold many of its mainland United States branches in Central Florida , Illinois and Southern California to cut costs and shore up its reserves against losses caused by foreclosures and the recession in Puerto Rico. After

320-532: A 14-date run for the entire month of December 2022, a record previously held by Daddy Yankee , who had a 12-date run, December 2019. Government of Puerto Rico The government of the Commonwealth of Puerto Rico is a republican democracy established by the Constitution of Puerto Rico in 1952. Under a system of separation of powers , the government is divided among three branches:

400-586: A big development for the bank, when in 1990 it merged with Banco de Ponce , one of the largest banks in Puerto Rico. At this time, Banco Popular's holding company changed its name to BanPonce Corporation. Popular acquired Banco Roig, one of the main banks in the eastern side of the island, in 1997, entering a geographical market in which it had yet to succeed. During the late 1990s, the company began to diversify its services thanks to revisions of state laws that allowed banks certain 'privileges' related to different financial services other than banking. These years saw

480-513: A fiscal turnaround plan by January 28. Just before that deadline, the control board gave the Commonwealth government until February 28 to present a fiscal plan (including negotiations with creditors for restructuring debt) to solve the problems. A moratorium on lawsuits by debtors was extended to May 31. It is essential for Puerto Rico to reach restructuring deals to avoid a bankruptcy-like process under PROMESA . Statehood might be useful as

560-508: A future Tren Urbano station, the Coliseum's planners decided not to incorporate parking facilities to the arena, as to induce visitors to use mass transportation to reach it. Political opponents of Pedro Rosselló 's administration raised various objections to the original plan, claiming that the lot of land purchased for the construction would benefit some of his political party's ( PNP ) heaviest financial contributors. They also objected to

640-455: A group of famous Latin-American musicians in an effort to create a musical televised show. After the large success of this venture, the company began to produce annual live Christmas concerts and television specials with various Puerto Rican and international singers and artists. The 1996 version included the future star Shakira . The concerts and specials are aired in local television stations and then released on CDs and DVD , raising money for

720-455: A living individual and there were talks of making an exception to the law should a living Puerto Rican icon be honored with the name. However, the name of beloved local comedian José Miguel Agrelot was chosen when the Coliseum was near its completion. Agrelot himself had suggested the name of Rafael Hernández Marín to be used, and when someone suggested his name instead he was both surprised and concerned. A major public parking space or garage

800-584: A majority of both chambers. The current heads are Senator Eduardo Bhatia and Representative Jaime Perelló Borrás , respectively. Members are elected to both chambers in general elections held every four years, along with the elections for the Governor and the 78 municipal mayors . Each member of the Legislative Assembly represents an electoral district , with the exception of a number of legislators who are considered at-large and represent

880-556: A means of dealing with the financial crisis, since it would allow for bankruptcy and the relevant protection. In the Puerto Rican status referendum, 2020 , the majority of voters approved of Puerto Rico becoming a state. However, the referendum was non-binding, and there has been little federal action since the referendum. According to the Government Development Bank, statehood might be the only solution to

SECTION 10

#1732797152210

960-585: A previous record that was also achieved by him in 2019. This was the first time a concert was fully broadcast live on national television in Puerto Rico, which was exclusively through the airwaves of Telemundo Puerto Rico . Wisin & Yandel hold various records, some of which they have previously broken as well, including most performances at the Choliseo , by any artist, duo or group, increasing it to 39 and largest number of shows sold out in 24 hours. Their farewell concert tour, La Última Misión World Tour , spun

1040-682: A private entity sponsor the facility and lend its name to it. Most local politicians objected to the idea, due to the 2001 Enron financial scandal , which made the company go bankrupt at a time when their corporate sponsorship named the Houston Astros ' home ballpark as the Enron Field. Some politicians argued over the naming the Coliseum after a Puerto Rican celebrity. Some of the names mentioned were that of pop star Chayanne , boxer Félix "Tito" Trinidad and actor Raúl Juliá . Puerto Rican law demanded that no facility could be named after

1120-419: A private operator would take control of the facility under contract from the government of Puerto Rico under what was perceived as a highly expensive contract. The Rosselló administration countered by stating that previous experience with public sports facilities in Puerto Rico, which would quickly fall into disrepair at an accelerated rate requiring constant remodeling, demanded that a private entity should manage

1200-665: Is an ongoing debate . Puerto Rico was ceded to the United States by Spain at the end of the Spanish–American War by the Treaty of Paris of 1898 . The Foraker Act of 1900 provided for an organization of the civilian government. The Jones–Shafroth Act of 1917 re-organized the government. The United States government authorized Puerto Rico to draft its own constitution by Pub. L.   81–600 , 64  Stat.   319 , enacted July 3, 1950 . On June 4, 1951,

1280-404: Is another title primarily given by the media and the public, though it is considered unofficial. All cabinet-level Secretaries are first nominated by the Governor and are confirmed by the legislative assembly. Each department has different divisions , agencies , bureaus , offices , and services , each with specific duties, in order to provide the necessary services to the general public across

1360-526: Is appointed by the corporations’ Board of Directors . The directors are nominated by the Governor and confirmed by the state legislative assembly. Although government-owned corporations are separate from the commonwealth government, who generate their income and expenses independently, several of those have faced financial troubles, and have constantly relied on so called “bail-outs” from the commonwealth to offset recurring losses and deficits, and have been unable to legally declare bankruptcy . Article III of

1440-401: Is by far the largest branch in the government as well as the largest employer in Puerto Rico with more than 150,000 workers. The head of government is the Governor of Puerto Rico, who is elected every four years in a general election. The position is similar in nature, responsibility, and power as those of a governor of a U.S. state . The position of Governor has the overall responsibility of

1520-523: Is carried out by the Puerto Rico Police (PPR). Puerto Rico's central government, which includes all three branches of government but excludes public corporations and municipalities, has an annual general budget that currently ranges from $ 8.5 billion to $ 9 billion in revenues and expenditures. The government also receives more than $ 4.2 billion annually in subsidies and federal aid from the United States. A substantial portion of this amount

1600-518: Is earmarked for public welfare , including funding educational programs (such as Head Start ), subsidized housing programs (such as Section 8 and public housing projects ), and a food stamp system called the Nutrition Assistance for Puerto Rico program. Government-owned corporations generate approximately $ 6.3 billion in general revenues by charging citizens for the services they provide. The largest government-owned corporation,

1680-509: Is the parent company of Banco Popular de Puerto Rico, Popular Bank, E-Loan , and several other companies. The headquarters of Banco Popular Puerto Rico is in Hato Rey , San Juan . The bank was founded in Puerto Rico in 1893 when the island was still under Spanish administration. It was led in its early stages by Rafael Carrión Sr. and Don Manuel Muñoz Barrios, the latter of which was the company's first president and administrator. During

SECTION 20

#1732797152210

1760-454: The Choliseo can be found and charge a fee. The Tren Urbano is by far the most used transportation mode to and from the Choliseo ; the Hato Rey station , located at a short walking distance, is the only station to extend operating hours after nighttime events end until all passengers using the system have exited at the station of their respective destinations. On May 26, 2011, the Coliseo

1840-579: The Constitution of Puerto Rico and the laws of Puerto Rico are subject to the authority of the Constitution of the United States and the laws of the United States, which are enacted and amended by the Congress of the United States , executed and enforced by the President of the United States , and interpreted and validated by the Supreme Court of the United States . Puerto Rico is subject to

1920-654: The Constitution of Puerto Rico grants all legislative powers of the commonwealth government to the Legislative Assembly of Puerto Rico , which is divided into two chambers: a 27-member Senate and a 51-member House of Representatives . The chambers are presided over by the President of the Senate and the Speaker of the House , respectively. Both positions are occupied by an active member of each body, elected by

2000-701: The Court of First Instance consisting of the Superior Courts and the Municipal Courts. The Supreme Court, the commonwealth's highest court, holds its sessions in San Juan's Miramar district. Puerto Rico is divided into 78 municipalities, each headed by a mayor. The municipalities also have a municipal legislature, which is in charge of overseeing the mayor's operations, holding public meetings, and enacting municipal resolutions and ordinances. Both

2080-524: The New Progressive Party or New Party of Progress (NPP) ) discarded the alternative of unicameralism claiming that the NPP's platform, rather than advocating unicameralism, supported submitting to the people a constitutional amendment proposing a substantial reduction in seats in the existing bicameral legislature. In 2012, Governor Fortuño proposed, and by a two thirds majority in both houses,

2160-470: The Puerto Rican government-debt crisis posed serious problems for the government which was saddled with outstanding bond debt that had climbed to $ 70 billion or $ 12,000 per capita at a time with a 45 percent poverty rate and 12.4% unemployment that is more than twice the mainland U.S. average. The debt had been increasing during a decade long recession. The Commonwealth had been defaulting on many debts, including bonds, since 2015. With debt payments due,

2240-640: The Puerto Rico Electric Power Authority (PREPA), generates almost half of those revenues alone ($ 3 billion). However, government-owned corporations generate about $ 10.6 billion in expenses when combined, requiring substantial subsidies by the central government. In 2005, the central government provided more than $ 2.6 billion in subsidies, while the remaining expenditures were funded through interest and investment earnings. When considering all three branches of government, including all government-owned corporations and municipalities,

2320-538: The Secretary of State . Article IV of the Constitution of Puerto Rico establishes that the Secretary of State should serve as acting governor when the Governor is not available. The Constitution and Puerto Rican law establishes a governmental line of succession for special cases when neither the Governor nor the Secretary are available. Article IV of the Constitution of Puerto Rico establishes that

2400-560: The Virgin Islands and as Popular Bank in the mainland United States, is a financial services conglomerate that has operated in Puerto Rico for over 125 years and in the mainland United States for over 52 years. In recent years, it has expanded into other areas of the Caribbean and Central America . The BPPR in the logo stands for Banco Popular de Puerto Rico , where the bank has its major historical footprint. Popular, Inc.

2480-621: The archipelago and island of Puerto Rico. Article IV defines the executive branch as headed by the governor , currently Pedro Pierluisi , who is also the head of government . Article III defines the legislative branch as consisting of a bicameral legislature, namely the Legislative Assembly , composed by the Senate as its upper house and by the House of Representatives as its lower house . The governor and legislators are elected by popular vote every four years . Article V defines

José Miguel Agrelot Coliseum - Misplaced Pages Continue

2560-468: The executive , the legislative , and the judicial . As a territory of the United States , the government of Puerto Rico is under the jurisdiction of the federal government of the United States . Article I of the Constitution of Puerto Rico defines the government of Puerto Rico as a republican form of government seated in San Juan with executive, legislative, and judicial powers within

2640-558: The judicial branch as headed by the Chief Justice of the Supreme Court of Puerto Rico , currently Maite Oronoz Rodríguez . The legal system is a mixture of the civil law and the common law systems. Members of the judicial branch are appointed by the governor with advice and consent from the Senate. The extent of the powers of the government of Puerto Rico and the rights of the citizens of Puerto Rico as enumerated in

2720-720: The jurisdiction of the federal government of the United States and the territorial sovereignty of the United States . Its head of state is the president of the United States, currently Joe Biden . As an unincorporated territory of the United States, Puerto Rico is neither a sovereign state nor a state of the United States . The federal government of the United States has enumerated powers , including monetary policy , foreign relations , and defense . The local government of Puerto Rico has reserved powers , including education , law enforcement , and elections . Both governments share concurrent powers , including taxation and fiscal policy . The political status of Puerto Rico

2800-474: The 1970s, the company's commercials were popular on Puerto Rican television: they presented a balding, middle aged man in a white tee shirt, announcing the company in a comic way. The 1970s also saw a giant step in the development of Banco Popular as Puerto Rico's biggest bank, when it bought two-thirds of the Banco de Crédito y Ahorro Ponceño. Through this purchase, Popular entered the credit-card industry. During

2880-517: The Cabinet serve at the pleasure of the Governor, who may dismiss them or reappoint them (to other posts) at will. The day-to-day enforcement and administration of laws is delegated by the Governor to 16 executive departments created by the Constitution or by statute to deal with specific areas of government. The heads of the departments, chosen by the governor and approved by the Senate (with

2960-542: The Constitutional Convention of Puerto Rico reconvened and approved the conditions established by Pub. L.   82–447 . On July 25, 1952, Governor Luis Muñoz Marín proclaimed that the Constitution of Puerto Rico was in effect. The executive branch is responsible for administering public resources, as well as providing all necessary public services to the Puerto Rican general public. It

3040-777: The Governor shall be assisted by Secretaries who shall collectively constitute the Governor's advisory council and be designated as the Council of Secretaries although it's mostly referred to as the Cabinet . The Cabinet is composed by the Constitutional Cabinet , composed by the Secretaries established by the Constitution, and the Operational Cabinet , composed by the Secretaries established by extraconstitutional Puerto Rican law or appointed by

3120-426: The Governor was facing the risk of a government shutdown and failure to fund the managed care health system. "Without action before April, Puerto Rico’s ability to execute contracts for Fiscal Year 2018 with its managed care organizations will be threatened, thereby putting at risk beginning July 1, 2017 the health care of up to 900,000 poor U.S. citizens living in Puerto Rico", according to a letter sent to Congress by

3200-489: The Governor. These Cabinets do not exist as agencies, but are referred as such in transcripts, records, official documents, and conversations for brevity and easiness. All Cabinet members are nominated by the Governor and then presented to the Senate for advice and consent by a simple majority . If they are approved, they are sworn in and then begin their duties. All members receive the title of Secretary . Members of

3280-471: The Legislature approved submitting to the people a constitutional amendment reducing the size of the House from 51 to 39 seats and the Senate from 27 to 17 seats, essentially a 30% reduction in size. However, in an August 18, 2012 referendum, the constitutional proposition failed by a 54% to 46% margin. The judiciary of Puerto Rico consists of the Supreme Court of Puerto Rico , Court of Appeals , and

José Miguel Agrelot Coliseum - Misplaced Pages Continue

3360-487: The Puerto Ricans voted to hold a constitutional convention in a referendum, and elected delegates on August 27, 1951. The convention adopted a constitution on 6 February 1952 and was ratified by Puerto Rico's electorate in a referendum on March 3, 1952 . The United States government approved an amended version by Pub. L.   82–447 , 66  Stat.   327 , enacted July 3, 1952 , and on July 10, 1952,

3440-458: The Secretary of the Treasury and the Secretary of Health and Human Services. They also said that "Congress must enact measures recommended by both Republicans and Democrats that fix Puerto Rico’s inequitable health care financing structure and promote sustained economic growth." Initially, the oversight board created under PROMESA called for Puerto Rico's governor Ricardo Rosselló to deliver

3520-643: The Senate and, in a handful of cases, the House, as well. Similar to a U.S. State, the Governor has authority over the Puerto Rico National Guard. Although Puerto Rico does not have the position of Lieutenant Governor , sections 7 and 8 of the Constitution empower the Secretary of the Puerto Rico State Department to act as Acting Governor, should the governor be absent from Puerto Rico, become temporarily disabled or unable to discharge his/her duties, and as Governor for

3600-576: The aggressive expansion in the United States, the company changed its name once again in 2000 to Popular, Inc. , a name that goes back to the traditional roots of the corporation and which also reflects the common title in almost all of the subsidiaries of the company. During this period, the company reorganized itself into three main subsidiary companies: Banco Popular de Puerto Rico, with David Chafey Jr. as president; Popular Bank, with Roberto Herencia as president; and Evertec, with Felix Villamil as president. Richard Carrión remained as president and CEO of

3680-619: The bank re-branded its mainland branches as Popular Community Bank in an effort to attract more non-Hispanic customers. The first branches to bear the new name were in the Chicago market followed by those in Southern California and Florida, then New York City and New Jersey. As of January, 2012, Popular, Inc. still owed $ 935 million to the US government Troubled Asset Relief Program . In March 2013, Popular announced it would sell

3760-742: The birth of Popular Auto, Popular Finance, Popular Mortgage, Popular Insurance, Popular Leasing, among others. During this time, the company created one of its flagship subsidiaries, Popular Securities. It quickly became the investment banking, retail brokerage, and institutional sales arm of Banco Popular. On the retail side, Popular Securities has an extensive network of brokers in Puerto Rico , rivaled only by Swiss giant UBS and more recently by Banco Santander . Popular Securities has additional offices in New York City , San Antonio , Houston , and Chicago . Due to its growth in Puerto Rico, and

3840-514: The building's foundations would have had to be redone because of this. There was even talk of demolishing what had been built and starting from scratch, which infuriated Rosselló supporters, who dismissed the suggestion as merely an excuse to spend more government money, this time to benefit the PPD's financial backers. Plans for a redesigned interior added during the Calderón administration added fuel to

3920-623: The continental United States, Canada and the United Kingdom, since SummerSlam 1992 when New Year's Revolution was held there in 2005. On May 26, 2011, the arena was ranked 8th on the Top 50 Arena Venues of the world and second of the West Hemisphere in worldwide ticket sales by Pollstar . As of May 2013, the arena has received over 5 million spectators, hosting more than 600 events with a gross ticket revenue around $ 200 million. After

4000-464: The contract, but the Government of Puerto Rico stood by their original contract with Ticketpop. Local producer Angelo Medina spearheaded a group that wanted the legislature to curb the managing powers of SMG (before merging to ASM Global in 2019), recently-named to oversee operations and activities, because they feared that the company's relationship with non-local television companies would limit

4080-456: The current two-chamber system (House and Senate) prevalent in 49 of the 50 states of the nation to one-chamber ( unicameralism ). The reasons for this proposed change was based on the growing public opinion that members of the assembly are overpaid, and that a smaller assembly might achieve the same work results as the bicameral one with less public expenditures. However, an official report of 1995 indicates that this argument should not be considered

SECTION 50

#1732797152210

4160-662: The debt crisis. Congress has the power to vote to allow Chapter 9 protection without the need for statehood, but in late 2015 there was very little support in the House for this concept. Other benefits to statehood include increased disability benefits and Medicaid funding, the right to vote in Presidential elections and the higher (federal) minimum wage. Banco Popular de Puerto Rico Carlos Rosario Chief Financial Officer Jose Coleman, Executive Vice President, Chief Legal Council and Corporate Secretary Popular, Inc. , doing business as Banco Popular in Puerto Rico and

4240-428: The exception of the Secretary of State, who requires Senate and House confirmation), form a council of advisers generally known as the Governor's Cabinet. The Constitution provides for the creation of at least 8 departments: Departments of State , Justice , Education , Health , Treasury , Labor , Agriculture , Commerce , and Public Works . However, due to the increase in population, economy, and public needs over

4320-409: The facility. The contract's expense would be justified by bringing in an operating partner with international experience managing world-class facilities, whose reputation would ensure that performers and sport events that had never been staged in Puerto Rico could visit the island. The Coliseum's construction was stopped for close to two years during the administration of governor Sila María Calderón ,

4400-507: The following decades, Banco Popular put great of emphasis on the company's public image. It was during the 1980s, after Rafael Carrion, Sr.'s death, that Richard L. Carrión assumed the role as President of the corporation. In 1989, the bank introduced a children's savings service with a bear, " Populoso ", as its mascot. The Club del Ahorro (or Savings Club) was (and still is) intended to encourage children to open savings accounts and keep track of their money. The following decade started with

4480-666: The games been held in San Juan. However, in 1997 the International Olympic Committee selected Athens to host the Olympics and the construction of the Coliseum was jeopardized. Recognizing the need for such a facility anyway, the government decided to continue the construction, this time at a site physically close to San Juan's financial district, the Golden Mile . Since the new site was adjacent to

4560-617: The government eliminated the excise tax of 6.6% on imports (taxes on cigarettes, liquor, and cars are still in effect) and substituted it for a 5.5% islandwide Sales and Use Tax , plus a municipal sales tax of 1.5%, for a total of 7%, in what has been known as the Puerto Rico Tax Reform . This change was partly due to the government's growing expenditures and fiscal deficits which remained unchecked and uncorrected for several years, until several credit agencies warned public officials that all general-obligation bonds issued by

4640-449: The government of Puerto Rico's annual expenditures can reach to more than $ 28 billion. The central government's main source of revenue is income tax imposed on individual citizens and private companies, which can amount to approximately $ 5.5 billion. Other significant sources of revenue include excise taxes on imports, cigarettes, liquor, hotel rooms, cement, and vehicles ($ 2 billion); and lotteries ($ 870 million). On November 15, 2006,

4720-414: The government were to be downgraded if the problem was not corrected. The situation reached a turning point when the executive branch of the government was partially shutdown, the events now known as the 2006 Puerto Rico budget crisis . Thirty-three (33) agencies were closed and 95,762 employees were sent home without pay. Following public bickering between the two main political parties, the new sales tax

4800-544: The hit from Hurricane Maria , in the 2017 Atlantic hurricane season , events after mid-September 2017 were cancelled. For a while, the Choliseo was used as a warehouse and recollection center by the Government of Puerto Rico to prepare and distribute food, water and basic necessities to those affected by the deadliest and costliest hurricane in Puerto Rican history. The arena resumed hosting events in March 2018. The Coliseum

4880-689: The intense public controversy. Another controversy came about when Banco Popular 's subsidiary Ticketpop was named the ticketing distributor through an exclusive contract, almost ignoring the bid by competitor TicketCenter. Ticketpop remained the sole ticketing distributor, from the venue's opening day until August 28, 2019 when rising competitor Ticketera was given the exclusive contract; Ticketpop's entire subsidiary operations were later sold to Ticketera in April 2021, whose founders also founded Ticketpop. The original ticket vendor bidding controversy almost went to trial, as both parties argued over who would receive

SECTION 60

#1732797152210

4960-423: The island as a whole. Members representing specific districts are elected by the citizens residing within the district, while at-large legislators are elected by accumulation of all island votes. In recent years, two referendums have been held to propose constitutional changes to substantially modify the composition of the Legislative Assembly. Various organizations pushed for changing the legislative assembly from

5040-405: The island. Puerto Rico has also established several government-owned corporations in order to provide basic and public services to its citizens, including electricity, water, transportation, and education, among others. These are separate legal entities from the Commonwealth, but the government owns virtually all of these corporations' stock . Each corporation is headed by an executive director who

5120-468: The lack of parking space, claiming that nearby private parking operators, supposedly also money donors to Rosselló's party, would extort high parking fees from people who could not or would not use public transportation to the venue. At the time, the Tren Urbano was in its initial stages of construction; by the time the facility opened it was still under construction. Objectors would also point out that

5200-409: The leader of the opposition party ( PPD ) whose administration followed Rosselló's. She claimed that the Puerto Rican government had spent $ 242 million for a facility where only 42% of its scheduled project plan had been completed when she took office. The planners and constructors had overlooked the fact that a water pumping station next to the facility had been built over unstable land, and a portion of

5280-529: The mayor and the municipal legislators are elected at-large by the municipality's citizens in general elections held every four years. Unlike most towns, cities and states in the United States, Puerto Rico does not have local or state sheriffs; sheriff duties are instead performed by the Puerto Rico Commonwealth Marshal's Office. Many municipalities have established municipal police departments, although most law enforcement activity

5360-494: The new Citi Field . Popular's world headquarters are located in the San Juan's Hato Rey business district, on a stretch of a thoroughfare commonly known as Milla de Oro ("The Golden Mile") due to the number of banks headquartered in the area. Travelers who fly into the Luis Muñoz Marín International Airport can appreciate Popular's landmark building below. Between 2010 and 2012,

5440-574: The parent company, Popular, Inc. In the January 24, 2005 issue of Fortune , Popular, Inc. was chosen as one of the 100 Best Companies to Work For . On April 11, 2005, Popular Bank announced a five-year agreement with the New York Mets under which Popular would operate seven ATMs and display various advertisements at Shea Stadium until it closed in September 2008, and the team moved to

5520-400: The participation of local talent in the arena. The Coliseum was finally inaugurated on September 4, 2004. The first major show was Van Halen , on September 13, 2004. The naming of the structure caused a controversy by itself. During the construction phase, plans called for the coliseum to be named simply El Coliseo de Puerto Rico (The Coliseum of Puerto Rico). It was also suggested to have

5600-491: The primary objective because the savings are not significant. The legislative spending in Puerto Rico, compared with the consolidated government budget is less than 1% of total government spending. Lacking the two-thirds majority necessary in both houses of the Legislature to submit constitutional amendments to the electorate, in 2004 the Popular Democratic Party's then-majority approved legislation to hold

5680-412: The remainder of the term should a permanent vacancy occur. Puerto Rico does not have a post for lieutenant governor but it has a Secretary of State which performs a similar role. The Secretary of State is the successor of the Governor and is empowered to act as acting governor — the Constitution of Puerto Rico and Puerto Rican law establishes a governmental line of succession starting with

5760-677: The sale, Popular Community Bank retained 49 branches in South Florida , New Jersey , and New York . On September 12, 2014, Harbor Community Bank purchased Popular's branches in Orlando and central Florida. On November 7, 2014, Banc of California in Irvine purchased 20 branches of Popular Community Bank in southern California. In 2018, Popular Community Bank changed its name to Popular Bank (Legal name) and Popular, commercial name. For its 100th Anniversary celebration, Popular gathered

5840-479: The state of the commonwealth, equivalent to the state of the union in the U.S. The official residence of the governor is La Fortaleza , the oldest executive mansion in continuous use in the Western Hemisphere. The Governor has the authority to nominate agency heads, trial and appellate judges , as well as Supreme Court justices and directors of public corporations, although these must be confirmed by

5920-429: The years, the Puerto Rico government has expanded the executive branch by establishing additional executive departments not specified in the Constitution. These additional departments are established by public law or so-called "reorganization plans", as approved by the legislative assembly. The title of Secretary is given to the heads of the executive departments, whose position is also created by statute. Cabinet member

6000-486: Was a project started during the administration of Governor Rafael Hernández Colón , initially as part of a bid to host the 2004 Olympic Games . The facility was supposed to be constructed between the Roberto Clemente Coliseum and Hiram Bithorn Stadium , about a mile and a half away from the current arena site. The Coliseum would have been used for events such as Gymnastics and Olympic Basketball had

6080-626: Was approved in favor of the excise tax on imports on May 10, 2006, ending the budget crisis. The largest types of expenditures made by the government are those related to education. In 2005 alone, the government expended more than $ 5 billion in public education and education-related programs, representing approx. 28% of total government expenditures (excluding public corporations). Other significant expenditures include public housing and welfare ($ 3.4 billion or 19%), public safety ($ 2.5 billion or 14%) and public health ($ 2.3 billion or 13%). In May 2007, local economists expressed serious concerns when it

6160-456: Was not included in the planning or construction for the arena. Instead, only three parking lots were constructed, one for backstage entrance for authorized talent, production, equipment, props, etc., a medium-sized lot to the West entrance mostly for handicapped and the smallest lot, access-controlled, located across the box office and nearby the heavy rail station; privately-owned parking lots around

6240-457: Was ranked 13 times in the 25 best arenas worldwide, according to Pollstar , Billboard and Venues Today . The largest attendance record that the Choliseo has hosted was achieved on July 28, 2022, with Bad Bunny 's Un Verano Sin Ti. The singer established an all-time record of 18,749 spectators, 249 spectators over the venue's capacity, on the first night of his three-night performances, breaking

6320-703: Was ranked 8th on the Top 50 Arena Venues of the world and second of the West Hemisphere in worldwide ticket sales by Pollstar , surpassing the Staples Center in Los Angeles, the American Airlines Arena in Miami , Wembley Arena in London, etc. In the first three months of 2011, the coliseum received an overwhelming number of people of over 205,000. During the first trimester, the coliseum

6400-740: Was revealed that the Puerto Rico public debt equaled to 76% of its gross national product (GNP), making it one of the most indebted countries by percentage in the world, even more than the United States. Economists have criticized the government's fiscal policy, whose level of expenditures and indebtedness has increased significantly within the past decade while the economy was grown at a much slower pace. Between 2000 and 2006 alone, Puerto Rico's GNP rose 5.37%, while its public debt's relation to GNP rose 18%. By comparison, many other Latin American countries have seen reductions in their GNP-public debt percentages during that same time period. By early 2017,

#209790