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Saturday, August 4, 2007

Asarco Bankruptcy decision delayed until November 12, 2007

Asarco extension to file reorganization plan

Published on Friday, August 03, 2007

Bankrupt copper miner Asarco has been given an extension until Nov. 12 to finish resolving environmental issues dating back to 1983 and file a reorganization plan.

"The extension of exclusivity will allow Asarco time to complete its remaining restructuring efforts and continue what has thus far been constructive discussions with its constituent groups about various alternatives for emergence from Chapter 11," Joseph Lapinsky, CEO of Asarco, said in a statement.

Asarco is headquartered at 1150 N. Seventh Ave. It filed for bankruptcy protection in Corpus Christi, Texas, in 2005.

Thursday, August 2, 2007

Pearson Forum morning of Aug-4: Superintent Garcia, EPISD

ask why EPISD hired Asarco's P.R. contact, Montoya, to do EPISD media? 

The Ray Pearson Forum
El Paso ’s Longest Running Forum
214 W Franklin
El Paso , TX  79924
Channel 15 Time Warner Cable
Sundays at 7PM also available at

This week the Superintendent for the EPISD Dr. Lorenzo Garcia will be our special
guest.   Come prepared with questions or e-mail them to me ahead of time and I will be happy to ask them for  you. 
Stay well and I hope to see you there,
joe oliva

7th Annual El Paso Pride Environmental Summit

from  Charlie Wakeem , forwarded from Sen. Shapleigh's offices, is the:
7th Annual
El Paso Pride Environmental Summit

September 7th, 2007             8:00 am to 3:30 pm
Ysleta Cultural Center
9600 Sims   
 Get involved!        Be part of the Solution!    
Learn about:  Community Clean Ups
Environmental Crimes Training
Graffiti Tracking
Better uses for Tires and
Construction debris 
Come on, El Paso  Keep It Clean!
Make Us Proud!
Continental Breakfast and luncheon provided
RSVP to Grace @ 834-4970

[Grace is with the TCEQ....h.m.]
Seating is limited!

Asarco investors appeal judge's ruling

Arizona Daily Star

Tucson, Arizona Published: 08.02.2007

Two investors in bankrupt copper producer Asarco LLC are taking an appeal to the U.S. district court on a ruling in July by the bankruptcy judge giving Tucson-based Asarco another 90 days when no one else may file a reorganization plan, Bloomberg News reported.
Saying they hold two-thirds of unsecured bonds and debentures issued by Asarco, Harbinger Capital Partners Master Fund I and Citigroup Global Markets Inc. also are appealing rulings by U.S. Bankruptcy Judge Richard Schmidt preventing them from conducting financial research without signing a confidentiality agreement they said was too restrictive.
A trial is set for September to estimate the amount of asbestos claims that pushed Asarco into bankruptcy.

Wednesday, August 1, 2007

El Paso ASARCO: a Model for how Industry can shed environmental liabilities

Yes, folks, Asarco (El Paso) is being eagerly watched over the world --- will it succeed in getting rid of its environmental liabilities?  Will it succeed in cleansing itself through the bankruptcy process from the environmental liabilities that it never declared on its tax-books?  Can other industries use the model it is creating to shed their own debts? 

In the 1990's all companies were suppose to be honest and declare on their tax books what evironmental liabilities (clean up costs, hazardous waste dumps etc) they had.   Many didn't.   It is a huge criminal liability and a huge problem for many corporations.

Asarco made a secret agreement in 1998 with our government in the Department of Justice to hide its decade of sham recycling/the burning of toxic wastes -- many from military sites--- that poisoned Mexico and New Mexico, mostly poor mexican-american peoples.  It contaminated our water and an international aquifer.  They are still hiding stuff.

Asarco did not declare (and has not declared to this day) its environmental liabilities. The TCEQ and EPA are compromised.  Our government in the highest offices are allowing Asarco to dump these toxic costs.

Asarco was bought by Grupo Mexico (the Carlyle group) and also Glencore -- see: Metal Men: Marc Rich and the 10 Billion Dollar Scam, by A. Craig Copetas... also, see,2933,122,00.html   Grupo Mexico owns over half the freight railroad right-of-way in Mexico.

You and me the taxpayers are getting taken.  We not only are getting the toxic waste dumped on us, but are being asked to take on the debt to deal with the mess. 

The Border region is getting dumped on, violating the La Paz accord (agreement) between nations.  People have been exposed to terrible toxic waste and not told what it is.

The above is the story of the Anapra, Mexico; Anapra and Sunland Park New Mexico people.   And no maneuvering or dodging from the responsible parties can change the irrevocable facts of how it happened and what Asarco and our regulatory officials did.

My thanks to the Sunland Park Environmental Group for this information