The valley native made history by clinching a Senatorial spot against Sixty-nine other candidates. Courtesy Image
Texas Border Business
LUBBOCK, Texas – On Friday, March 10th with over 1,554 total ballots casted students elected Dylan Moreno a Hispanic from McAllen, Texas as the next Senator for the College of Arts & Sciences at Texas Tech University. The valley native made history by clinching a Senatorial spot against Sixty-nine other candidates.
“I cannot wait to collaborate with Dylan and see all the great things he’ll be doing for the Senate Chamber,” said campaign supporter.
“As a student here at Texas Tech University it is inspiring to see Dylan Moreno leading the Hispanic movement into having mor representation in the Senate Chamber,” said Texas Tech Student.
Laredo Sector Border Patrol agents foiled two human smuggling attempts at the I-35 Border Patrol checkpoint that resulted in the apprehension of several individuals. USCBP Image for illustration purposes
Texas Border Business
LAREDO, Texas – Laredo Sector Border Patrol agents foiled two human smuggling attempts at the I-35 Border Patrol checkpoint that resulted in the apprehension of several individuals.
On March 12, Border Patrol agents encountered a tractor-trailer at the primary inspection lane. During inspection, Border Patrol agents discovered five individuals inside the sleeper area of the tractor. Record checks revealed that the individuals were in the country illegally and from Mexico. The driver and undocumented individuals were taken into custody and processed accordingly.
On March 13, Border Patrol agents encountered a white SUV at the primary inspection lane. After conducting an immigration inspection of the occupants, Border Patrol agents referred the driver to secondary inspection. At secondary, two of the individuals admitted they were in the country illegally. After record checks were conducted it was confirmed that the individuals were in the country illegally from El Salvador. The driver and undocumented individuals were taken into custody for processing.
U.S. Customs and Border Protection welcomes assistance from the community. Citizens are encouraged to report suspicious activity to the U.S. Border Patrol while remaining anonymous by calling 1-800-343-1994.
Governor Greg Abbott has appointed Ysmael D. Fonseca, Jr. to the 476th Judicial District Court in Hidalgo County for a term set to expire on December 31, 2024, or until his successor is duly elected and qualified. Courtesy Image for illustration purposes
Texas Border Business
AUSTIN, Texas – Governor Greg Abbott has appointed Ysmael D. Fonseca, Jr. to the 476th Judicial District Court in Hidalgo County for a term set to expire on December 31, 2024, or until his successor is duly elected and qualified.
Ysmael D. Fonseca, Jr. of McAllen is partner at Guerra & Sabo, PLLC. Previously, he served as Judge of the 464th Judicial District Court in Hidalgo County, and as a junior partner at Guerra, Leeds, Sabo & Hernandez, PLLC. He is a member of the State Bar of Texas, Hidalgo County Bar Association, Claims and Litigation Management Alliance, and The Federalist Society. Additionally, he serves on several community boards advocating for student success beyond graduation and into the workforce, including the Shary Foundation, where he has served as a high school professional mentor, and RGV LEAD. Fonseca received a Bachelor of Arts in Political Science from the University of Notre Dame and a Juris Doctor degree from the University of Notre Dame Law School.
This appointment is subject to Senate confirmation.
THE NEWLY CREATED 476TH DISTRICT COURT IN HIDALGO COUNTY
McAllen, Texas – Ysmael D. Fonseca, Jr., Governor Abbott’s former appointee to the 464th District Court, has been recently appointed to serve as the presiding judge of the 476th District Court in Hidalgo County.
Not new to the bench, Fonseca has managed and presided over thousands of criminal, family and civil cases. With a reputation for implementing efficient court standards, in addition to the prompt and fair administration of cases, Fonseca has been known to many in the courthouse as an effective and reliable jurist to manage the People’s Court. Hidalgo County is a growing community and the new court will address the increase in cases to be heard. The 476th District Court was created on September 1, 2022.
“I am honored and humbled to have received Governor Abbott’s confidence to serve as the presiding Judge for the 476th District Court. I am looking forward to working for the State of Texas again and serving in the fair and impartial administration of justice,” said Fonseca.
The 476th District Court is a court of general jurisdiction. It oversees civil and criminal matters including, but not limited to: divorce and custody disputes, contract disputes, personal injury cases, medical malpractice suits, and felony criminal offenses ranging from capital murder, aggravated assault, and sexual assault of adults and minors to robbery, intoxication and drug possession.
Fonseca is a partner at Guerra & Sabo, PLLC in McAllen where he specializes in civil defense, municipal and governmental law, and small business and non-profit representation. His service to the Court goes beyond the bench through his work on community boards that advocate for student success after graduation and into the workforce. Fonseca lives in McAllen with his wife Alejandra and their three children: AnaMaria, JuanPablo, and Josemaria.
Not to worry! The basic problems for each of the affected banks boiled down to inadequate risk management and issues specific to their situations rather than any systemwide weakness. Image for illustration purposes
Texas Border Business
Dr. M. Ray Perryman President and Chief Executive Officer of The Perryman Group
The recent shenanigans in several banks stoked fears of another financial crisis similar to the Great Recession in 2008 or the meltdown of the 1980s (I wrote a book about that one). Not to worry! The basic problems for each of the affected banks boiled down to inadequate risk management and issues specific to their situations rather than any systemwide weakness.
Quick action by the Federal Reserve, Treasury Department, and FDIC have calmed markets and depositors sufficiently to contain the fallout. There will no doubt be some jitters and gyrations around the globe for a while, but the system is sound.
Banks are the arteries of modern economies, taking in deposits from some customers and lending them to others. Usually, when numerous banks have problems on a broad scale, it’s due to high-risk practices (such as the subpar mortgage origination and securitization prior to the Great Recession), changes in the regulatory environment (such as the schizophrenic tax and financial policies which first incentivized syndications and then tanked them in the 1980s), or similar systematic issues.
Silicon Valley Bank (SVB) customers were highly concentrated in technology sectors (start-ups, in particular), As these firms came under pressure, they needed additional cash to fund operations. However, SVB had invested its assets into US Treasury and similar bonds with values sensitive to interest rates. These vehicles are risk-free if held to maturity, but subject to fluctuations when they are liquidated unexpectedly. As rates rose, the value of SVB’s portfolio fell. The bank raced to sell them at a loss or raise equity in other ways to manage the spate of withdrawals, but social media musings created and amplified a major run on deposits.
Clearly, SVB’s risk management was inadequate. Excess funds were too concentrated, and a hedge against interest rate risk should have been implemented. Greater diversification of its loan portfolio would have also been wise. In essence, bad choices took down SVB. The other two failures were basically generated by bets on the cryptocurrency market that did not pan out.
Fear can be contagious, and it will take a bit of time and a bit of data to fully restore confidence. The response by regulators (which does not reward shareholders, management, or bondholders) was appropriate given the situation and the need to maintain smooth functioning of the economy.
One result of this debacle is that the Federal Reserve now has yet another concern to deal with in its ongoing quest to promote both economic growth and modest inflation. The important point, however, is that neither tech dominance nor crypto concentration is the norm among US banks. This is neither 2008 nor the 1980s, and our financial infrastructure is fundamentally strong. Stay safe!
______________________________________
Dr. M. Ray Perryman is President and Chief Executive Officer of The Perryman Group (www.perrymangroup.com), which has served the needs of over 3,000 clients over the past four decades.
Packages containing 10 pounds of fentanyl seized by CBP officers at Juarez-Lincoln Bridge. USCBP Image
Texas Border Business
LAREDO, Texas—U.S. Customs and Border Protection (CBP), Office of Field Operations (OFO) officers assigned to the Juarez-Lincoln Bridge seized hard narcotics that totaled over $660,000 in street value.
“Narcotic interdiction continues to be a key component in the CBP border security mission,” said Port Director Alberto Flores, Laredo Port of Entry. “These significant seizures demonstrate the result of our officers’ diligent work and dedication to stopping dangerous drugs from crossing the border.”
The first seizure occurred on Thursday, March 9, at the Juarez-Lincoln Bridge, when a CBP officer referred a 21-year-old male Mexican citizen driving a 2018 Hyundai Elantra for secondary inspection. Following a canine and non-intrusive inspection system examination, CBP officers discovered a total of 30.33 pounds of alleged cocaine and 2.8 pounds of alleged methamphetamine within the vehicle. The narcotics had a street value of $431,392.
The second seizure occurred on Friday, March 10, at the Juarez-Lincoln Bridge, when a CBP officer referred a 49-year-old female United States citizen driving a 2008 Pontiac Grand Prix for secondary inspection. Following a canine and non-intrusive inspection system examination, CBP officers discovered a total of 10.14 pounds of alleged fentanyl within the vehicle. The narcotics had a street value of $236,900.
The narcotics had a combined street value of $668,292.
CBP seized the narcotics and two vehicles. Both drivers in the separate cases were arrested. Homeland Security Investigations (HSI) special agents are investigating the seizures.
Laredo Sector Border Patrol agents assigned to Cotulla Station apprehended halted a failed human smuggling attempt utilizing a belly dump truck in Cotulla, Texas. USCBP Image
Texas Border Business
LAREDO, Texas – Laredo Sector Border Patrol agents assigned to Cotulla Station apprehended halted a failed human smuggling attempt utilizing a belly dump truck in Cotulla, Texas.
On March 13, Border Patrol agents while working their assigned duties, with assistance from Texas Department of Public Safety (DPS) and La Salle County Sheriff’s Office attempted a vehicle stop near the intersection of Farm to Market Road 468 and 469. The driver exited the road into a nearby ranch and continued to travel north. When Border Patrol agents arrived at the scene, they located the belly dump truck abandoned in the ranch. Border Patrol agents tracked and apprehended two individuals in the nearby brush.
After conducting record checks on the individuals, Border Patrol agents confirmed that the individuals were illegally in the United States. They were from the country of Mexico. All subjects were taken into custody and processed accordingly.
Smuggling organizations continue to exploit children as a commodity! USCBP Image
Texas Border Business
EDINBURG, Texas – This week, Rio Grande Valley Sector Border Patrol agents had a violent encounter, prevented an individual from drowning and saved three abandoned children near the river.
On March 15, McAllen agents apprehended a group of migrants by the Bentsen State Park. During the encounter, an agent was physically assaulted and had to give the individual several commands before the individual let go. Several agents responded to the area to assist with the non-compliant individual. The subject, a citizen of Honduras, continued to resist until the agents were able to place him in handcuffs.
Later that afternoon, a McAllen Riverine Unit responded to a call from an Air and Marine Operations helicopter concerning an individual who appeared to be in distress, attempting to swim back to Mexico. The crew located the person struggling to stay afloat and safely extracted him from the water. The male individual was medically evaluated and treated by a Border Patrol Emergency Medical Technician (EMT).
Within a 24-hour time period, in separate incidents, Fort Brown and Weslaco agents encountered children abandoned by the riverbank. On March 14, in Weslaco, a female child was soaking wet due to local storms. Agents requested an EMT as a precaution but determined the child was not in need of emergent medical attention and immediately transported the child to a Border Patrol processing facility.
“While executing our border security mission, Border Patrol agents frequently encounter unavoidable dangers and emergency situations. Agents immediately jumped into action to prevent any further injury and save lives” stated RGV Sector Chief Patrol Agent Gloria I. Chavez.
Border Patrol processed all the individuals accordingly.
U.S. Customs and Border Protection officers working at the Bridge of the Americas Border Crossing intercepted fentanyl and cocaine on two separate failed smuggling attempts on Tuesday. USCBP Image for illustration purposes
Texas Border Business
EL PASO, Texas – U.S. Customs and Border Protection officers working at the Bridge of the Americas Border Crossing intercepted fentanyl and cocaine on two separate failed smuggling attempts on Tuesday.
“CBP Officers remain ever vigilant in their enforcement efforts to prevent illicit drugs from entering our country,” said El Paso Port Director Ray Provencio. “Experienced CBP Officers utilize their skill, and various tools and other resources to aid in the successful interception of these dangerous drugs.”
The first interception occurred shortly before 11:00 a.m. when CBP Officers encountered a 26-year-old female, U.S. citizen who arrived from Mexico via the vehicle lanes. The woman was referred for a secondary inspection of the vehicle which included screening by a CBP canine team and non-intrusive exam. Physical inspection of the vehicle resulted in the discovery of mixed bundles containing 5.77 pounds of cocaine and 16.31 pounds of fentanyl.
A few hours later, CBP officers encountered a 34-year-old female, Mexican citizen who arrived from Mexico via the vehicle lanes. The woman was referred for a secondary inspection of the vehicle where a CBP canine team and a non-intrusive exam led CBP officers to locate 23.05 pounds of cocaine.
The subjects arrested by CBP officers were turned over to state and local authorities for prosecution.
El Paso Sector Chief Patrol Agent Anthony “Scott” Good. USCBP Image
Texas Border Business
EL PASO, Texas – U.S. Border Patrol Chief Raul L. Ortiz announced, the selection of El Paso Sector Chief Patrol Agent (CPA) Anthony “Scott” Good, as the new El Paso Sector Chief Patrol Agent. CPA Good will assume his duties this week.
CPA Good entered on duty in 2001, as a graduate of the 466th session of the USBP Academy. He was initially assigned to Calexico Station, in El Centro Sector, California.
Throughout his 22-year federal career, CPA Good has held various positions along the Southern and Northern Border Sectors, including USBP Headquarters, and the Transportation Security Administration. He has served in such leadership positions as Patrol Agent in Charge, Ajo Station; Division Chief, Laredo Sector; Humanitarian Counselor to the Commissioner, U.S. Customs and Border Protection; and CPA, Havre Sector.
CPA Good earned a Master’s of Military Art and Science in Homeland Security Studies from the U.S. Army Command and General Staff College, and a Bachelor of Science in Criminal Justice from Bowling Green State University, Bowling Green, Ohio. He is also a graduate of the Department of Homeland Security Senior Executive Service Candidate Development Program.
El Paso Sector’s outgoing Acting CPA Peter Jaquez will resume his role as this sector’s Deputy Chief Patrol Agent (DCPA) upon CPA Good’s arrival. Chief Jaquez has served as the Acting CPA of the El Paso Sector since October 9, 2022. During his tenure, Acting CPA Jaquez’s leadership, operational experience, and his outstanding partnerships with local, state, federal and international stakeholders has enhanced the operational effectiveness of the El Paso Sector. Currently, the El Paso Sector is recorded as the busiest sector in the nation followed by Del Rio and Tucson Sectors.
“I am grateful and honored to have served the El Paso Sector as Acting Chief Patrol Agent,” said Acting Chief Patrol Agent Peter Jaquez. “I am looking forward to working alongside Chief Good to continue supporting our workforce, with our very important national security mission, and serving our communities where we live and operate.”
The proposed Texas CHIPS Act would create the Texas Semiconductor Innovation Consortium and Fund. Image for illustration purposes
Texas Border Business
AUSTIN, Texas – The proposed Texas CHIPS Act would create the Texas Semiconductor Innovation Consortium and Fund, focused on research and development to leverage Texas’ efforts in winning semiconductor chip projects and bolstering the industry’s prevalence statewide. Chairman Huffman and Chairman Bonnen have filed companion Texas CHIPS Act legislation in their respective chambers.
