logo
Officials demand answers as crews work to restore power after another Puerto Rico blackout

Officials demand answers as crews work to restore power after another Puerto Rico blackout

SAN JUAN, Puerto Rico — Crews scrambled to restore power to Puerto Rico on Thursday after a blackout hit the entire island, affecting the main international airport, hospitals and hotels filled with Easter vacationers.
The outage that began past noon Wednesday left 1.4 million customers without electricity and more than 400,000 without water. Power was back on for more than 850,000 customers, or 58%, by Thursday afternoon, and water was restored for 89% of customers. Officials expected 90% of customers to have electricity restored within 48 to 72 hours after the outage.
'This is a shame for the people of Puerto Rico that we have a problem of this magnitude,' said Gov. Jenniffer González, who cut her weeklong vacation short and returned to Puerto Rico on Wednesday evening.
She said it would take at least three days to have preliminary information on what might have caused the blackout, which snarled traffic, forced hundreds of businesses to close and left those unable to afford generators scrambling to buy ice and candles.
'There's still a long road of recovery,' she said. 'Our system is very fragile.'
González warned that the boiler of one power plant was not functioning and would take one week to repair, which could affect generation next week when people return from vacation.
It's the second massive blackout to hit Puerto Rico in less than four months, with the previous one occurring on New Year's Eve.
'Why on holidays?' griped José Luis Richardson, who did not have a generator and kept cool by splashing water on himself every couple of hours.
The roar of generators and smell of fumes filled the air as a growing number of Puerto Ricans renewed calls for the government to cancel the contracts with Luma Energy, which oversees the transmission and distribution of power, and Genera PR, which oversees generation.
González promised to heed those calls.
'That is not under doubt or question,' she said, but added that it's not a quick process. 'It is unacceptable that we have failures of this kind.'
González said a major outage such as the one on Wednesday leads to an estimated $215-million revenue loss daily.
Ramón C. Barquín III, president of the United Retail Center, a nonprofit that represents small- and medium-sized businesses, warned that ongoing outages would spook potential investors at a time when Puerto Rico urgently needs economic development.
'We cannot continue to repeat this cycle of blackouts without taking concrete measures to strengthen our energy infrastructure,' he said.
Many also were concerned about Puerto Rico's elderly population, with the mayor of Canóvanas deploying brigades to visit the bedridden and those who depend on electronic medical equipment.
Meanwhile, the mayor of Vega Alta opened a center to provide power to those with lifesaving medical equipment.
Wednesday night was difficult for many, including 62-year-old Santos Bones Burgos.
'I spent it on the balcony,' he said, adding that he was trying to get some fresh air.
At some point, he fell asleep, he said, and recalled waking up at 5 a.m. to a neighbor yelling, 'The power is back!'
Among those unable to sleep was Dorca Navarrete, a 50-year-old house cleaner who said it was too hot.
'Last night was horrible,' she said. 'I woke up with a headache.'
When she opened her eyes, she saw light and thought it couldn't possibly be the sun at that hour. Then a smile spread across her face when she realized it was from the light she had left on in a room the day before.
It was not immediately clear what caused the shutdown, the latest in a string of major blackouts on the island in recent years.
Officials are looking into whether several breakers failed to open or exploded, González said.
Another possibility is that overgrown vegetation affected the grid, which, if true, should not have happened, said Josué Colón, the island's energy czar and former executive director of Puerto Rico's Electric Power Authority.
He noted that the authority flew daily to check on certain lines, something he said Luma should be doing.
Colón said Luma also needs to explain why all the generators shut down after there was a failure in the transmission system, when only one was supposed to go into protective mode.
Pedro Meléndez, a Luma engineer, said an investigation is ongoing. He said in a news conference Thursday that the line where the failure occurred was inspected last week as part of regular air patrols to check on more than 2,500 miles worth of transmission lines across the island.
'No imminent risk was identified,' he said.
Daniel Hernández, vice president of operations at Genera PR, said Wednesday that a disturbance hit the transmission system shortly after noon, a time when the grid is vulnerable because there are few machines regulating frequency at that hour.
Puerto Rico has struggled with chronic outages since September 2017, when Hurricane Maria pummeled the island as a Category 4 storm, razing a power grid that crews are still struggling to rebuild.
The grid already had been deteriorating as a result of decades of a lack of maintenance and investment under the state's Electric Power Authority, which is struggling to restructure $9 billion in debt.
Coto writes for the Associated Press.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Hospitality Cash Flow Experts Reveal Smart Ways to Keep Your Restaurant Profitable in Australia
Hospitality Cash Flow Experts Reveal Smart Ways to Keep Your Restaurant Profitable in Australia

Time Business News

time2 days ago

  • Time Business News

Hospitality Cash Flow Experts Reveal Smart Ways to Keep Your Restaurant Profitable in Australia

Managing cash flow remains one of the most significant challenges facing Australian hospitality businesses today. Between rising ingredient prices, staff shortages, fluctuating customer demand, and seasonal shifts, restaurant owners must continuously monitor how money moves in and out of their business. Cash flow problems have been the downfall of many bustling restaurants, even those with strong customer turnout. When cash inflows slow down or expenses spike unexpectedly, even profitable operations can find themselves struggling to meet ongoing costs and turn a profit. This article distills valuable insights from hospitality cash flow experts, offering practical tips tailored specifically for Australian restaurants. You will also discover how debt collection services designed for the hospitality sector can assist in recovering unpaid invoices and reducing financial losses. Running a restaurant in Australia is no easy feat. The hospitality industry faces distinct pressures from the cyclical nature of business. Peak seasons like Christmas, Easter, and school holidays bring busy trading periods, whereas months such as February and July can be notoriously slow. Despite fluctuations in sales, rent, wages, and supplier bills must be paid promptly. One delayed payment can cause a domino effect, especially if multiple customers or clients postpone their payments. Even restaurants with steady foot traffic can experience cash flow crunches. Moreover, suppliers often enforce strict payment terms. Falling behind on payments can jeopardize supply reliability, potentially disrupting kitchen operations. Add in recurring expenses such as marketing campaigns, equipment maintenance, and utility bills, and cash flow management becomes a complex balancing act. The unpredictable interplay of revenue and expenses means business owners must maintain a careful watch over daily income and outgoings, anticipating upcoming costs and planning for unexpected setbacks. Cash flow experts bring structured financial planning and clarity to what can often feel like a whirlwind of transactions. These professionals analyse daily sales, spending habits, and fixed costs, providing restaurateurs with a clear picture of how money flows through their operations. Beyond just tracking income and expenses, cash flow experts prepare businesses for significant upcoming spending such as tax obligations, licence renewals, or major equipment repairs ensuring these costs are factored into financial plans well in advance. Their expertise enables early identification of profit leaks and cash flow pressure points. By implementing well-tested strategies and simple operational adjustments recommended by such experts, restaurants can dramatically improve their financial resilience. For example, cash flow consultants may suggest renegotiating supplier terms, tweaking menu prices, or implementing cash flow forecasting software. These insights are invaluable to restaurateurs aiming to sustain profitability through volatile periods. Improving cash flow is often about making small, strategic adjustments that cumulatively create significant positive effects. Here are several actionable tips hospitality cash flow experts recommend: Review Daily Earnings and Stock Levels: Monitor daily sales to adjust your stock purchases accurately. Avoid overstocking items with slower turnover to reduce waste and free up cash. Monitor daily sales to adjust your stock purchases accurately. Avoid overstocking items with slower turnover to reduce waste and free up cash. Focus on High-Margin Menu Items: Identify your best-selling and most profitable dishes, and consider promoting these more heavily. Updating your menu periodically ensures alignment with current customer preferences and profitability goals. Identify your best-selling and most profitable dishes, and consider promoting these more heavily. Updating your menu periodically ensures alignment with current customer preferences and profitability goals. Offer Incentives for Early or Prepaid Bookings: Encourage customers to pay upfront or early by offering small discounts or value-added incentives. This can improve cash flows and reduce the likelihood of no-shows. Encourage customers to pay upfront or early by offering small discounts or value-added incentives. This can improve cash flows and reduce the likelihood of no-shows. Implement Deposit Requirements for Large Groups: For functions or large bookings, require a deposit to secure the reservation. This helps cover upfront costs and reduces the risk of cancellations without notice. For functions or large bookings, require a deposit to secure the reservation. This helps cover upfront costs and reduces the risk of cancellations without notice. Schedule Staff According to Customer Traffic: Use historical sales data to predict busy and slow periods, aligning staff rosters accordingly to avoid overstaffing and minimise labour costs. Use historical sales data to predict busy and slow periods, aligning staff rosters accordingly to avoid overstaffing and minimise labour costs. Use Automated Financial Tracking Software: Invest in software solutions that automatically track income, expenses, and key performance indicators (KPIs). Real-time financial insights enable faster decision-making and accurate budgeting. Invest in software solutions that automatically track income, expenses, and key performance indicators (KPIs). Real-time financial insights enable faster decision-making and accurate budgeting. Maintain a Cash Reserve: Wherever possible, build a cash cushion through disciplined savings during profitable periods to buffer against slow months or unexpected costs. Taking a proactive, data-driven approach to daily operations helps maintain control over money movement and prevents budget overruns. These small improvements also build a culture of financial mindfulness among staff. Many restaurants operate with payment terms, especially when providing group functions, catering, or events where invoices are sent after the service. Unfortunately, delayed or unpaid client invoices are common, which can severely disrupt cash flow. The best debt collection services for restaurants designed specifically for Australian small businesses including restaurants offer expert support to recover overdue payments without harming customer relationships. These agencies understand the hospitality sector's nuances. They balance professional firmness with respectful communication to maintain goodwill and compliance with Australian consumer laws. Some collection agencies integrate directly with your point-of-sale systems, allowing you to send overdue accounts for recovery conveniently. Utilising a reputable debt collection service can reduce losses, improve cash inflows, and free up valuable time for managers to focus on operations rather than chasing payments. If an invoice remains unpaid for over 30 days despite multiple reminders and no response from the client, it may be time to consider professional debt collection. Acting early increases the likelihood of recovering debts and avoids the amount becoming more difficult to recoup later. However, choosing the right agency is crucial. Look for agencies experienced in hospitality, able to tailor their approach to your restaurant's specific needs and budget. Transparent communication and regular case updates are essential features of a reliable service. When selecting a cash flow consultant or financial advisor, hospitality experience is vital. The advisor should provide straightforward, actionable advice that fits your restaurant's size, location, and operational model. Furthermore, compatibility with your existing accountant or bookkeeper ensures seamless integration and avoids duplication or conflicting strategies. Ask for references or case studies demonstrating their success in helping Australian restaurants across major cities such as Melbourne, Sydney, and Brisbane. An ideal advisor will not only crunch numbers but also understand the daily realities of running a restaurant business and offer solutions that are practical and achievable. Cash flow issues affect every restaurant at some stage, but they don't have to signal failure. With the right tools, forward planning, and expert support, your restaurant can maintain profitability . best debt collection services for restaurants withstand the inevitable ups and downs of business. Regularly monitoring your financial health, encouraging upfront deposits, fine-tuning operational efficiencies, and enlisting professional help for overdue payments make a tangible difference. Remember: profit isn't a lucky accident. It comes from disciplined planning, smart decision-making, and the willingness to seek outside help when needed. If you're struggling with cash flow or late payments, don't wait to speak to a debt collection agency or a hospitality cash flow expert today to set your business on stable financial footing and preserve its future success. TIME BUSINESS NEWS

Publix Reports Second Quarter 2025 Results and Stock Price
Publix Reports Second Quarter 2025 Results and Stock Price

Business Wire

time3 days ago

  • Business Wire

Publix Reports Second Quarter 2025 Results and Stock Price

LAKELAND, Fla.--(BUSINESS WIRE)--Publix's sales for the three months ended June 28, 2025 were $15.6 billion, a 7.3% increase from $14.5 billion in 2024. Comparable store sales for the three months ended June 28, 2025 increased 6%. The company estimates the increase in sales for the three months ended June 28, 2025 compared to the three months ended June 29, 2024 was 1% higher due to the effect of the Easter holiday being in the second quarter in 2025 and in the first quarter in 2024. Net earnings for the three months ended June 28, 2025 were $1.4 billion, compared to $972 million in 2024, an increase of 41.5%. Earnings per share for the three months ended June 28, 2025 increased to $0.42 per share, up from $0.29 per share in 2024. Excluding the impact of net unrealized gains on equity securities in 2025 and 2024, net earnings for the three months ended June 28, 2025 would have been $1 billion, compared to $940 million in 2024, an increase of 11%. Earnings per share for the three months ended June 28, 2025 would have been $0.32 per share, compared to $0.29 per share in 2024. Publix's sales for the six months ended June 28, 2025 were $31.4 billion, a 6.2% increase from $29.6 billion in 2024. Comparable store sales for the six months ended June 28, 2025 increased 5%. Net earnings for the six months ended June 28, 2025 were $2.4 billion, compared to $2.3 billion in 2024, an increase of 2.1%. Earnings per share for the six months ended June 28, 2025 increased to $0.73 per share, up from $0.71 per share in 2024. Excluding the impact of net unrealized gains on equity securities in 2025 and 2024, net earnings for the six months ended June 28, 2025 would have been $2.2 billion, compared to $2 billion in 2024, an increase of 10.1%. Earnings per share for the six months ended June 28, 2025 would have been $0.68 per share, compared to $0.61 per share in 2024. These amounts are based on unaudited financial statements that will be filed today with the U.S. Securities and Exchange Commission and made available on the company's website at Effective Aug. 1, 2025, Publix's stock price increased from $20.20 per share to $21.15 per share. Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors. 'Next month, we will celebrate Publix's 95 th anniversary,' said Publix CEO Kevin Murphy. 'I'm proud our associates continue to deliver on the vision our founder had when he started this special company.' Non-GAAP Financial Measures In addition to reporting financial results for the three and six months ended June 28, 2025 and June 29, 2024 in accordance with U.S. generally accepted accounting principles (GAAP), the company presents net earnings and earnings per share excluding the impact of equity securities being measured at fair value with net unrealized gains and losses from changes in the fair value recognized in earnings (fair value adjustment). These measures are not in accordance with, or an alternative to, GAAP. The company excludes the impact of the fair value adjustment since it is primarily due to temporary equity market fluctuations that do not reflect the company's operations. The company believes this information is useful in providing period-to-period comparisons of the results of operations. Following is a reconciliation of net earnings to net earnings excluding the impact of the fair value adjustment for the three months ended June 28, 2025 and June 29, 2024: Following is a reconciliation of net earnings to net earnings excluding the impact of the fair value adjustment for the six months ended June 28, 2025 and June 29, 2024: (1) Income tax expense is based on the company's combined federal and state statutory income tax rates. Expand Publix, the largest employee-owned company in the U.S. with more than 260,000 associates, currently operates 1,413 stores in Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina, Virginia and Kentucky. For 28 consecutive years, the company has been recognized by Fortune as a great place to work. In addition, Publix's dedication to superior quality and customer service is recognized among the top in the grocery business. For more information, visit the company's newsroom at

Trader Joe's brings back 'popular' product early
Trader Joe's brings back 'popular' product early

Miami Herald

time5 days ago

  • Miami Herald

Trader Joe's brings back 'popular' product early

There are a few things that make shopping at Trader Joe's different from shopping at your typical grocery store. For one thing, you'll mostly find private-label products on Trader Joe's shelves. And you also won't find nearly the same selection of products as you would at a traditional supermarket. Related: Costco jumps on viral dessert trend In fact, a lot of people can only do some of their food shopping at Trader Joe's, and require a larger supermarket to truly stock their kitchens with everything they need. That's a definite drawback. But the fact that Trader Joe's doesn't have such a wide range of inventory is something that makes it special. Don't miss the move: Subscribe to TheStreet's free daily newsletter You may not find every single type of yogurt or cereal on the shelves. But what you willfind is a selection of fun, unique products at what are usually affordable prices. Plus, there's something to be said for Trader Joe's outstanding customer service. From the friendly employees to the fact that you can return any item you're not happy with for a hassle-free refund, it's nice to shop at a store that appreciates you. Image source: Shutterstock Another reason people tend to love Trader Joe's is its seasonal products. In August, you'll typically start to see apple-related items hit the shelves. But those don't get to hog the spotlight for too long. Related: Costco, Trader Joe's slammed over food items customer reject By early to mid-September, pumpkin tends to take over. And those products tend to stick around well into October. Once pumpkin season is over, it's all things winter and holidays. If you're someone who loves peppermint-flavored goodies, you're in luck, because Trader Joe's tends to stock a wide range of holiday items starting in late November. And during the spring, you'll find a host of Easter-themed sweets. The trend in retail these days seems to be to bring back seasonal items far in advance. It's not unusual, for example, to find Halloween costumes at Costco in August, or to find Christmas items at Target in October. Related: Another large grocery chain follows Kroger in closing stores For this reason, Trader Joe's customers may not be totally surprised to see that pumpkin products are starting to hit the shelves as early as late July. So far, the store's famous Pumpkin Pancake and Waffle Mix has been spotted in multiple locations. Typically, it doesn't show up until September. And chances are, if you head to Trader Joe's in August, you'll see a bunch of additional pumpkin products show up. Whether that's a good thing or a bad thing is up to you. On the one hand, Trader Joe's is famous for its selection of pumpkin-flavored goods, from snacks to entrees to dog treats. So if you're someone who loves pumpkin, you may be stoked to see those products hit the shelves early. On the other hand, a lot of us associate pumpkin flavors with fall weather and don't want to dive into pumpkin until it's cold enough to at least warrant a jacket. It's hard to get excited about pumpkin spice cookies when it's 97 degrees outside and you're still walking around in your flip flops. More Retail: Walmart CEO sounds alarm on a big problem for customersTarget makes a change that might scare Walmart, CostcoTop investor takes firm stance on troubled retail brandWalmart and Costco making major change affecting all customers But either way, the return of Trader Joe's Pumpkin Pancake and Waffle Mix in July likely means that the pumpkin explosion will happen even earlier this year than in years past. You may want to start stocking up before some of your favorite items sell out sooner than expected. Related: Costco has another rule members may not know The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store