{"id":42359,"date":"2015-08-27T07:00:00","date_gmt":"2015-08-27T11:00:00","guid":{"rendered":"http:\/\/hispanicprwire.com\/?p=42359"},"modified":"2015-08-26T22:26:24","modified_gmt":"2015-08-27T02:26:24","slug":"60-plus-lanza-la-main-street-bondholders-coalition-para-tenedores-de-bonos-de-puerto-rico","status":"publish","type":"post","link":"https:\/\/hispanicprwire.com\/en\/60-plus-lanza-la-main-street-bondholders-coalition-para-tenedores-de-bonos-de-puerto-rico\/","title":{"rendered":"60 Plus Launches Main Street Bondholders Coalition for Puerto Rican Bondholders"},"content":{"rendered":"<p><html><br \/>\n  <head><br \/>\n    <META http-equiv=\"Content-Type\" content=\"text\/html; charset=utf-8\"><\/META><\/p>\n<style type=\"text\/css\">\n\/* Style Definitions *\/\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}<\/p>\n<p>BODY {\nFONT-SIZE: 0.83em; COLOR: black; FONT-FAMILY: \"Arial\"\n}\nA {\nCOLOR: blue\n}\n#divWide\n{\nmargin:0;\nmargin-top:1.33em;\n}\nLI {\nFONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: \"Arial\"\n}\n<\/style>\n<p><\/head><br \/>\n  <body topmargin=\"0\" leftmargin=\"0\"><br \/>\n    <\/p>\n<div id=\"divHeadline\" style=\"width:800px;margin-left:10pt\">\n      <!-- #Begin headline --><\/p>\n<p style=\"TEXT-ALIGN: center\">\n        <b>60 Plus Launches\u00a0Main Street Bondholders Coalition for Puerto Rican Bondholders<\/b>\n      <\/p>\n<p>\n        <b>Media Teleconference Scheduled for 11:00a.m. EDT, Thurs, Aug 27<\/b>\n      <\/p>\n<p>      <!-- #End headline -->\n    <\/div>\n<div id=\"divBody\" style=\"width:800px;margin-left:10pt\">\n      <!-- #Begin release --><br \/>\n<!-- #Begin Wide Release --><\/p>\n<div id=\"divWide\">\n<p>ALEXANDRIA, Va., Aug. 27, 2015 \/PRNewswire-HISPANIC PR WIRE\/ &#8212; Today The 60 Plus Association announced the formation of &#8220;Main Street Bondholders,&#8221; a new small bondholder coalition made up of ordinary investors from Puerto Rico and the United States mainland who hold retirement, college and life savings in Puerto Rican bonds.\u00a0 These investments are threatened by Governor Alejandro Garcia Padilla&#8217;s recent statements that he would refuse to honor Puerto Rico&#8217;s debts.\u00a0\u00a0 <\/p>\n<p>To launch the Main Street Bondholder Coalition, <b>Matthew Kandrach<\/b>, Vice President of the 60 Plus Association, and <b>Dr. El\u00edas Guti\u00e9rrez<\/b>, a small bondholder and economics professor at the Graduate School of Planning at the University of Puerto Rico will host a <b>media call on Thursday, August 27<\/b> at<b> 11:00 a.m. EDT.\u00a0<\/b>\u00a0<\/p>\n<p>&#8220;Governor Garcia Padilla&#8217;s recent statements that his government would refuse to honor its debts, including Puerto Rico&#8217;s own constitutional debt, are reckless, and are a serious threat to thousands of our members who hold investments in Puerto Rico bonds,&#8221; said Kandrach.\u00a0 <\/p>\n<p>Kandrach continued, &#8220;Puerto Rico can fix its problems, but fixing Puerto Rico needs to start with fiscal reform, not punishing \u00a0creditors.\u00a0 The Governor and his circle of advisors, who are the same bunch representing deadbeat sovereigns like Argentina, have chosen to manufacture a crisis in order to get Washington&#8217;s help in their plan to stiff creditors.\u00a0 Congress must not allow that to happen.\u00a0 Puerto Rico would benefit from a fiscal control board, just like the District of Columbia had in the 1990s when it faced financial crisis.\u00a0 Congress must also oppose the Governor&#8217;s plan to restructure Puerto Rico&#8217;s constitutional bonds.\u00a0 Allowing him to do so would set a terrible precedent, and open a Pandora&#8217;s box of other state defaults.\u00a0 No retirement account in America would be safe.&#8221;<\/p>\n<p>As a longtime economist and holder of Puerto Rican bonds, Dr. El\u00edas Guti\u00e9rrez added, &#8220;I invested my family&#8217;s life savings in Puerto Rican bonds because I wanted to support Puerto Rico and believed the government would never abandon its obligations.\u00a0 Bondholder&#8217;s rights must be protected. Our word and our laws must be valued above all else.\u00a0 The Commonwealth must honor its debts, especially constitutional debt. We will have no credibility if we repudiate on our promises.\u00a0 Governor Garcia Padilla must seek to restore confidence and credibility in capital markets, which can only be done by joining those in his party that are rejecting the current strategy of his consultants and legal team, or our economy and the people of Puerto Rico will continue to suffer.&#8221;<\/p>\n<p>The 60 Plus Association has a history of uniting and providing a platform for small bondholders. In 2009, 60 Plus launched the GM Main Street Bondholders Coalition that was dedicated to call attention to small bondholders who were not given a voice throughout the General Motors bankruptcy negotiation process. <\/p>\n<p>The following are details for the 60 Plus Main Street Bondholder Tele-press conference:<\/p>\n<p><b>What: <\/b>Main Street Bondholders Coalition Launch Teleconference<\/p>\n<p><b>When: <\/b>Thursday, August 27 at <b>11:00 a.m. EDT<\/b><\/p>\n<p><b>Who:<\/b>\u00a0<b>Matthew Kandrach, <\/b>Vice President of the 60 Plus Association<\/p>\n<p><b>El\u00edas Guti\u00e9rrez, <\/b>Economist at University of Puerto Rico and Puerto Rican bondholder <\/p>\n<p><b>Dial-in: <\/b>(800) 230-1092\u00a0 <\/p>\n<p><b>RSVP:<\/b> To participate in the teleconference, RSVP to <a href=\"mailto:media@mainstreetbondholders.org\" target=\"_blank\">media@mainstreetbondholders.org<\/a> <\/p>\n<p><b>Main Street Bondholders Coalition<\/b> is a project of the 60 Plus Association that is made up of small bondholders from across America who are committed to a policy process that returns Puerto Rico to sound financial management, respects the rule of law, and protects their retirement savings.<\/p>\n<p>Contact: <a href=\"mailto:media@mainstreetbondholders.org\" target=\"_blank\">media@mainstreetbondholders.org<\/a><\/p>\n<\/div>\n<p><!-- #End Wide Release --><\/p>\n<div id=\"divMediaContact\">\n<p>\u00a0<\/p>\n<\/div>\n<p><!-- #End release --><\/div>\n<p>\n  <\/body><br \/>\n<\/html> <\/p>","protected":false},"excerpt":{"rendered":"<p>60 Plus Launches\u00a0Main Street Bondholders Coalition for Puerto Rican Bondholders Media Teleconference Scheduled for 11:00a.m. EDT, Thurs, Aug 27 ALEXANDRIA, Va., Aug. 27, 2015 \/PRNewswire-HISPANIC PR WIRE\/ &#8212; Today The 60 Plus Association announced the formation of &#8220;Main Street Bondholders,&#8221; a new small bondholder coalition made up of ordinary investors from Puerto Rico and the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-42359","post","type-post","status-publish","format-standard","hentry","category-negocios-y-finanzas"],"acf":[],"_links":{"self":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/42359","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/comments?post=42359"}],"version-history":[{"count":0,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/42359\/revisions"}],"wp:attachment":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media?parent=42359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/categories?post=42359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/tags?post=42359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}