I am writing today to announce the closure of the New Mexico Independent. After three and a half years of operation in New Mexico, the board of the American Independent News Network, has decided to shift publication of its news…
While environmental activists played their part yesterday during demonstrations at the capitol building, going so far as to dress up as solar panels and to sing the tune of “You Are My Sunshine,” their counterparts, the anti-cap-and-trade contingency who has…
Roughly one quarter of University of New Mexico students are unimpressed with the state’s flagship public school, according to a survey that questioned college students about their higher education experiences.
CDR Financial Products is the company at the center of the investigation involving Gov. Bill Richardson and the New Mexico Finance Authority.
As we’ve mentioned, CDR received a lucrative contract with NMFA, despite the fact that it did not rank highest among the firms that responded to the agency’s request for proposals. Smith Barney/Ryan Labs scored highest, with 99 points, but the staff evaluation team of former NMFA chief financial officer Keith Mellor and controller Joe Gosline, recommended that the services be split between the two companies.
CDR got the SWAP and GIC advisement and brokerage work, while Smith Barney/Ryan Labs got a contract to provide other investment advisory services. The interesting part is that CDR did not receive a contract, but a “contingency arrangement,” in which the company would be used only for SWAP/GIC services only after receiving board approval.
Here’s the memo from Mellor that spells it all out:
