Mexico's president touts austerity on his way out of office but lavishes largesse on friends [Financial Post (Toronto, Ontario, Canada)]
Vulcan Materials Company (Holding Company) (VMC)
Last vulcan materials company (holding company) earnings: 2/18 07:30 am
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Source: Financial Post
MEXICO CITY (AP) — Mexico's outgoing president has always taken pride in his reputation as a penny-pincher but on Friday, three days before leaving office, Andres Manuel Lopez Obrador announced generous cash giveaways for his allies in a radical union movement. It was part of what analysts call Lopez Obrador's contradictory policies of cutting some government services to the bone while handing out vast amounts for his own pet projects and to political supporters. He granted an electrical workers' union about $95 million a year in unearned pension benefits, describing it as “an act of justice.” In 2009, some 7,000 of the unionized workers from the debt-ridden, corrupt and overstaffed government power company were laid off. Still, they spent the next decade supporting Lopez Obrador's two subsequent presidential campaigns. At the time they were sacked, the workers had not accumulated enough years to retire, under policies allowing retirement after 25 years of service. On Frida
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VMC
Earnings
- 10/30/24 - Miss
VMC
Sec Filings
- 11/20/24 - Form 8-K
- 11/19/24 - Form 424B5
- 11/19/24 - Form FWP
- VMC's page on the SEC website