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    Puerto Rico: The Economic Rescue Manual
    Puerto Rico: The Economic Rescue Manual
    Puerto Rico: The Economic Rescue Manual
    Ebook62 pages40 minutes

    Puerto Rico: The Economic Rescue Manual

    By David R. Martin

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    About this ebook

    A step-by-step guide to Puerto Rico's economic renaissance.

    Corporate attorney David R. Martin proposes a transformational economic development plan for Puerto Rico.

    Critical of Puerto Rico's use of tax exemptions to promote manufacturing, Mr. Martin argues that the Island must fundamentally remake itself.

    Buffeted by globalization, Puerto Rico is no longer competitive in manufacturing. Generous tax exemptions have failed to stem the loss of manufacturing jobs and have contributed to an alarming fiscal crisis.

    While having better baseline attributes than Las Vegas, Macau and Dubai, Puerto Rico's leisure and entertainment potential remains grossly underdeveloped. The overuse of isolated high-end, resort enclaves has inhibited the sector's growth.

    The centerpiece of Mr. Martin's plan is the creation of a mega-entertainment city on the east coast of the Island. By adopting the specific initiatives and policies of The Rescue Manual, the Island will be poised for a new era spectacular growth.

    LanguageEnglish
    PublisherDavid R. Martin
    Release dateJan 13, 2013
    ISBN9780985242442
    Puerto Rico: The Economic Rescue Manual
    Author

    David R. Martin

    David R. Martin was born in Toledo, Ohio. He is a graduate Amherst College and the law schools of the University of Puerto Rico and New York University, the latter awarding him a master of laws in taxation. He has additional post-baccalaureate studies in accounting, finance and economics from Georgia State University. He practices corporate law in Atlanta, Georgia.

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      Book preview

      Puerto Rico - David R. Martin

      Puerto Rico: The Economic Rescue Manual

      By David R. Martin

      Copyright 2013 David R. Martin

      Smashwords Edition

      Smashwords Edition

      Copyright 2013 David R. Martin

      All rights reserved.

      License Notes: This ebook is licensed for your personal enjoyment only. This ebook may not be re-sold or given away to other people. If you would like to share this ebook with another person, please purchase an additional copy for each person you share it with. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then you should return to Smashwords.com and purchase your own copy. Thank you for respecting the hard work of this author.

      For information about the author or other questions or comments, please contact D.R. Martin, LLC 5200 Peachtree Road, Suite 3116, Atlanta, GA 30341 or dmartinl@abogar.com.

      TABLE OF CONTENTS

      Dedication

      Acknowledgments

      Preface

      Introduction

      The Ultimate Goal: The Economy At Large

      1st Goal: A Clean and Beautiful Island is the Highest Priority

      2d Goal: Repair the Island’s Finances

      3d Goal: A New City

      4th Goal: Transport – Our Airlift and Elimination of Cars

      5th Goal: Internet for All

      6th Goal: Useful Education

      7th Goal: The Status

      About the Author

      Appendix A – Puerto Rico City

      Appendix B – Sovereign Wealth Funds

      Appendix C – Macau

      Appendix D – Las Vegas

      Appendix E – Roosevelt Roads

      DEDICATION

      To my fellow Puerto Ricans

      Panama Canal? Impossible.

      Empire State Building? Impossible.

      Hoover Dam? Impossible.

      Golden Gate Bridge? Impossible

      Etcetera? Impossible.

      - All overheard by someone.

      All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.

      - Arthur Schopenhauer

      We already have a sovereign wealth fund. It’s called Puerto Rico City

      - Lino Mendoza

      ACKNOWLEDGMENTS

      I want to thank José Piñol, Carolina Madelaire, Heidi Angell, Rene DeVries, and Dennis Markunas for their thoughtful comments to this manual.

      Preface

      During the 1996 Olympics in Atlanta, Georgia, I attended a gathering of the Puerto Rico Olympic Committee at a restaurant in Midtown. The committee was vying to host the 2004 Games in San Juan. At the event, I ran into Luis Fortuño, who, if I recall, was then the head of the Puerto Rico Tourism Company.

      Before moving to Atlanta from San Juan, I had worked with Luis in the same law firm of McConnell Valdés. His father had been my dentist, and his uncle and cousins had lived across the street from my family in Río Piedras. I wished Luis and the Puerto Rico committee well in their efforts to stage one of world’s largest sporting events.

      At that time, I had a general sense of the enormous obstacles to Puerto Rico’s bid. After becoming more informed, however, I realized that hosting the Olympics in San Juan would have been physically impossible.

      When I arrived in 1990, Atlanta had all the sparks and energy of a boomtown. The city was practically a forest of construction cranes. New homes, trendy

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