TODAY'S TOP STORIES: Big lender target of state lawsuit
Countrywide Financial Corp. misled investors according to a lawsuit filed on behalf of the state Investment Council, the Educational Retirement Board and the Public Employees Retirement Association on Friday, according to an AP report. Countrywide, once the nation's largest Mortgage broker, has been widely blamed for contributing to the subprime mortgage crisis. The lawsuit states that the company negotiated mortgages which it knew its customers could not afford and ignored its own underwriting procedures.
New Mexico green chile growers are looking for ways to automate the harvesting process. A meeting of chile growers, processors and researchers tested a mechanical prototype at New Mexico State University yesterday, according to the Las Cruces Sun News. Chile production is down 45 percent in New Mexico since 2005. Experts at the conference stated that "automation is needed to reduce high labor costs associated with the harvest, which will allow them to compete with foreign-grown chile."
While John McCain was having a town-hall meeting in Las Cruces, U.S. Rep. Tom Udall held a less recognized town-hall of his own at Eastern New Mexico University yesterday. The New Mexico Democrat spoke to students and residents as part of his "Doing Right By New Mexico Tour", according to the Clovis News Journal. When asked about a national energy policy Udall stated that the public is in the dark about the nation's current energy policy because it was "formulated in secret by the Bush administration. "(The policy) looks like Bush travels to Saudi Arabia with hat-in-hand to get them to turn the spigot back on. That’s not going to work." Udall noted the need for U.S. oil exploration but stated "nuclear power, conservation and investment in alternative energy and technology research were equally important."
The Governor's office will announce Las Cruces as the site location for a new veterans museum today at noon. The site was recommended to the Governor by the Veterans Museum Task Force on Wednesday, according to the Albuquerque Journal. There were six cities in the running to house the museum. "Las Cruces may have enjoyed an advantage over the other communities, because state legislators from the region have set aside $1.3 million in capital outlay funds for the project here since 2007," according to the report.
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