Morning Word: PNM Faces SEC Complaint

Environmental group says utility misled investors

It's Monday, July 6, 2015

New Energy Economy wants the Securities and Exchange Commission to investigate the Public Service Company of New Mexico for allegedly misleading its investors by issuing what they call a “deceptive” news release claiming a coal supply deal could save ratepayers $300 million.

Steve Terrell reports.

The war of words between the investor-owned utility and environmentalists continues. On Sunday, Jo An Newton, PNM’s vice president of external affairs and customer service, accused New Energy Economy of twisting the facts about their power replacement proposal and insisted coal-generated energy is the lowest-cost option for consumers despite computer models that show renewable sources may already be a cheaper option.

Read it here.

Dan Boyd, the Albuquerque Journal ’s Capitol Bureau chief, has a good story this morning about the effectiveness of tax incentive packages on economic development and job creation in New Mexico. Boyd says the jury is still out. And even if tax incentives are successful in sparking economic activity, they still come with a cost.

Read it here.

Police departments around the state that have relied on the sale of seized property to boost their budgets are increasingly worried about the impact of the state’s new forfeiture law.

KOB has the story.

The Las Cruces Sun-News ' Walt Rubel is confident that Spaceport America will become a viable space launch site, but he’s not so sure it will ever be safe for passengers to ride rockets.

Read it here.

Now that the US Supreme Court has ordered marriage equality for same-sex couples, Alray Nelson wants the Navajo Nation to repeal the Diné Marriage Act.

Read his view here.

New Mexico is on track to becoming a leader in ending veterans’ homelessness.

Read it at the ABQ Journal.

A state district court judge wants the New Mexico Supreme Court to determine if a law that allows teenagers to be tried as adults is constitutional before sitting a jury to hear murder charges against two teenagers accused of killing two homeless men in Albuquerque last year.

Read it at the ABQ Journal.

The New Mexico Conference of Catholic Bishops will oppose a proposal to impose new work requirements on residents who received Supplemental Nutrition Assistance Program (food stamp) benefits.

Deborah Baker reports.

US Rep. Steve Pearce thinks the best way to stop ISIS is to curb its ability to sell oil on the world markets.

Read his take here.

New Mexico State University is breaking down the science of our state’s favorite fruit.

Read it at the Las Cruces Sun-News.

The founder of Burt Bee’s has died. Burt Shavitz’ famous lip balm has been a favorite of Santa Feans, warding off dry desert heat, for decades.

Read it at the Daily Beast.

Finally, Forbes magazine lists Las Cruces as one of the Top 25 places to retire in the United States because the cost of living is 8 percent lower than the national average. Two drawbacks: the low number of doctors per capita and the city’s low walkability ranking.

Read more here.

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