December 10, 2014 – Well we returned to the US today after a modified 38 Day Tour, the folks we had with us were not big fans of the beach. We still maintained a reasonable pace with some quality R & R time. We took only one couple back as 3 couples dropped off in La Paz returning next month, Ferne took the Ferry to Mazatlan as planned and two couples departed from La Paz early (3rd day). Andrea & Marianne were anxious to get in some skiing, Randy & Liz were keen to get repairs made on their Class “A” which had been plagued with a number of issues, both on the road to Baja and in Mexico. Unfortunate news via Facebook; Randy and Liz clipped a curb coming into Rivera Del Mar RV Park, it is tricky, always important to make the wide turn to the left then right. In addition sounds like they lost their Motorhome Driver’s side mirror as it collided with a Tractor Trailer Mirror and must be replaced. As we understand it both the gals and Randy & Liz have crossed back into the US on Saturday, December 6 according to the schedule they laid out. Good thing Randy & Liz are staying in Yuma for the next 4 months, they will need the time to make all the repairs and unwind from their Baja Adventure. Good news for them is lots of good shops and repair facilities for RVers for sure.
La Paz
We always enjoy our time in La Paz and this was no exception, dinner at Maguayes, our visit to the downtown core, Lisa purchased some unique fabric for our RV Shows, a walk on the Malecon, dropped in on Kathy & Bruce at Allende Books, and lunch at our favourite Hot Dog & Hamberguesa stand. Cindy & Jose have finished their house, looks wonderful, we also had a visit with Bill & Marilyn who are staying in a house at the back. In addition to a Happy Hour we got in some pool time and a birthday Pinata for Darlene. Sad news from Ibarra’s Pottery Vicky’s father passed away only a week or so prior to our arrival, we knew when we showed up that things had changed. Vicky’s Mom & Dad started the business decades ago and he will missed greatly as the Master Potter, fortunately he has passed down knowledge and shared his skills with other family members. We made a side trip to the AquaMarina RV Park where our Alberta couples are staying for a few weeks, very nice, we have not seen this park in many years.
Loreto
Leaving La Paz behind we headed to Loreto, staying at Rivera del Mar, a change for us but Puerto Escondido was still recovering from Odile and Pedro’s restaurant was not open. Good time to catch up on some WiFi and have dinner at Orlando’s just down the street from the park, always popular with both tourists and local Mexicans.
Mulege
Pulled into the Hotel Serenindad and only one other RV present, not much else going on. They have laid some new gravel and are replacing the tiles in the outside patio, for a Friday business was slow, even by the Serenidad’s standard. Our excursion included a drive out the lighthouse, well as far as we could drive. Yes the lighthouse is cut off again thanks to Odile and the Malecon installed about 3 years ago in now a peninsula, what a mess. The effects of Odile really changed the course of the river after the bridge. Over at the Orchard things looked worse than I have ever seen them before, lots of debris and damage, did not see Chris & Jeannie and we have heard that Maurice & Vivianne have sold finally. We did not get around to seeing Jim & Penny in the Oasis, they must have had their share of mud and water as well. Before our visit was over Bruce & Marian dropped by for a good chat, we always look forward to their company and local updates.
Guerrero Negro & Catavina
Onwards north we ventured next stop was Mario’s in Guerrero Negro. It appears he is building something new, two walls are up, we will see what becomes of this. We had a couple of RVs arrive later in the day, folks heading for Playa Coyote, one of the rigs was a 42’ Diesel pusher who said they have been going for years and you just have to take care with the big rock outcrop at the entrance. The next day we headed for Catavina, only one other RV joined us for the night, some travelers from Montana going to Pescadero, BCS to spend the winter. Ralph had me up to the house for the first time. He and Pat have been there since 1980 tucked away up and behind Santa Ines on 10 acres. The house is tucked into mountain side, with everything you can imagine including solar and generator power when required, as well a very cool 1950 Olds Camper., a truly one of a kind. Among the many things Ralph does is he the communication coordinator for Baja Mil in this region, he has a great shop and is always willing to help or assist Rvers in need. We can attest to this when Tom & Linda, our guests one year, had transmission woes Ralph was instrumental in getting the repairs made and them back on the road. We will always be in his debt for this help, as will Tom & Linda.
Vicente Guerrero & Sordo Mudo
Great drive the next day as the wind was down, now if they could only do something about the arroyos at each end of Catavina and the road north of town, it is awful with more potholes than pavement. We were able to make an unscheduled stop at Mama Espinoza’s Restaurant for a couple of bumper stickers and Gary purchased some very significant Onyx sculptures. Mama Espinoza is still going strong at 108 years old; to put that in perspective she was born before, the Mexican Revolution, WW 1 or the Russian Revolution and before Teddy Roosevelt was elected President of the US. Prior to arriving at the Baja Fiesta Restaurant we stopped for fuel and tacos at Baja Fish. Alfonso & Alejandra operate this stand, great fish and shrimp tacos on homemade corn tortillas! Turns out Alfonso is Celcila’s nephew. Speaking of Baja Fiesta we showed up only to discover they were closed, oops. No problem we headed over to Posada Don Diego RV Park Motel & Restaurant Bar, we had power and water but dinner was better at Cecelia’s digs, still not a bad option B. 8 am precisely and we were off to the Valley of Guadalupe and Wine Country. First a short stop in Ensenada to register with Yolanda for my Spanish immersion course and then headed to the Wine Museum before arriving at our destination, to Sordo Mudo. What an interesting and educational place for sure, they did a great job bring together all the history from the region, it is all about the Vino! Did you know Wine was created in Georgia (the Country 7000 years ago? I managed to get a siesta under warm sunny skies, not too hot, later Ed Everett came over for a meeting about the RV Park and services they offer for transportation. Interesting guy Edward, we are looking forward to working with him in the near future.
Tecate/US Border
We left for Tecate a few minutes early this morning and arrived at the border at 9:05 AM, crossing at 9:55 AM, pleased to report no incidents of any kinds, just warm sunny skies. Lots for us to do before heading back to Ensanada for a Spanish immersion course and Xmas at Villarino. Before you know it we will be celbrating New Years Eve and meeting with our January tour.
Did you know?
Carlos Slim Helú (Spanish pronunciation:[ˈkaɾlos esˈlim eˈlu]; born January 28, 1940) is a Mexican business magnate, investor, and philanthropist. From 2010 to 2013, Slim was ranked as the richest person in the world with an estimated net worth of $75.6 billion USD as of November 1, 2014. Known as the “Warren Buffett of Mexico”, Slim has extensive holdings in a considerable number of Mexican companies through his conglomerate, Grupo Carso, SA de CV, have amassed interests in the fields of communications, real estate, airlines, media, technology, retailing, and finance. Presently, Slim is the chairperson and chief executive of telecommunications companies Telmex and América Móvil. América Móvil, which was Latin America’s largest mobile-phone carrier in 2010, accounted for around US$49 billion of Slim’s wealth by the end of that year.
Family
Slim was born in Mexico City, Mexico in 1940 to Maronite Catholic parents, Julián Slim Haddad and Linda Helú, both of Lebanese descent. His father, born Khalil Salim Haddad Aglamaz, immigrated to Mexico from Lebanon (then part of the Ottoman Empire) at the age of 14 in 1902 and changed his name to Julián Slim Haddad. It was not uncommon for Lebanese children to be sent abroad before they reached the age of 15 to avoid being conscripted into the Ottoman army; four of Haddad’s older brothers were already living in Mexico at the time of his arrival. Carlos Slim’s mother, Linda Helú Atta, was born in Parral, Chihuahua, of Lebanese parents who had immigrated to Mexico in the late 19th century. Her parents upon immigrating to Mexico had founded one of the first Arabic language magazines for the Lebanese-Mexican community, using a printing press they had brought with them. In 1911, Julián established a dry goods store, La Estrella del Oriente (The Star of the Orient). By 1921, he had purchased real estate in the flourishing commercial district of Mexico City. These enterprises became the source of considerable wealth. In August 1926, Julián Slim and Linda Helú married. They had six children: Nour, Alma, Julián, José, Carlos and Linda. Julián senior died in 1953.
Carlos the entrepreneur
Slim and his siblings were taught basic business practices by their father, and at the age of 12, Slim bought shares in a Mexican bank. At the age of 17, he earned 200 pesos a week working for his father’s company. Later he pursued a post-secondary education in civil engineering at the National Autonomous University of Mexico, where he also concurrently taught algebra and linear programming. After graduating from college, Slim began his career as a trader in Mexico to hone his business skills. He formed his own brokerage firm that later expanded to invest in individual businesses, ranging from construction and manufacturing to retail and restaurants. In 1965, he incorporated Inversora Bursátil and bought Jarritos del Sur and as of 1966, already worth USD $40 million, he founded Inmobiliaria Carso. Three months later, he married Soumaya Domit Gemayel (the Carso name derives from the first three letters of Carlos and the first two of Soumaya), and they remained married until her death in 1999.
Companies found within the construction, real estate, and mining industries were the focus of Slim’s early career. By 1972, he had established or acquired a further seven businesses in these categories, including one which rented construction equipment. In 1976, he branched out by buying a 60% interest in a printing business, and in 1980, he consolidated his business interests by forming Grupo Galas as the parent company of a conglomerate that had interests in industry, construction, mining, retail, food, and tobacco.
In 1982, the Mexican economy, which had substantially relied on oil exports, contracted rapidly as the price of oil fell and interest rates rose worldwide. Banks and other businesses were nationalized, crippled, or collapsed, and the peso was devalued (Our first visit to Mexico was in 1985 and the exchange rate was 600 pesos to a US dollar). At this time, and during the period of recovery to 1985, Slim wisely invested heavily. He bought all or a large percentage of numerous Mexican businesses, including Reynolds Aluminio, General Popo (General Tire’s trading name in Mexico), Bimex hotels, and the Sanborns food retailer. In addition acquired a 40% and 50% interest in the Mexican arms of British American Tobacco and The Hershey Company, respectively. Carlos also moved into financial services as well, buying Seguros de México and creating from it, along with other purchases such as Fianzas La Guardiana and Casa de Bolsa Inbursa, the Grupo Financiero Inbursa. Many of these acquisitions were financed by the cash flows from Cigatam, a tobacco business which he bought early in the economic downturn.
In 1988 Slim added the Nacrobre group of companies – which trade in copper and aluminum products – along with a chemicals business, Química Fluor, and others. In 1990, the Grupo Carso was floated as a public company initially in Mexico and then worldwide. Later in 1990, Slim acted in concert with France Télécom and Southwestern Bell Corporation in order to buy the landline telephony company Telmex from the Mexican government (Working for BC Tel and having a TWU Pension I can attest to the value of a Telephone Company). By 2006, 90 percent of the telephone lines in Mexico were operated by Telmex, and his mobile telephony company, Telcel, which was created out of the Radiomóvil Dipsa Company, operated almost 80 percent of all the country’s cellphones. In 1991, he acquired Hoteles Calinda (now OSTAR Grupo Hotelero), and in 1993, he increased his stakes in General Tire and Grupo Aluminio to the point where he had a majority interest.
In 1996, Grupo Carso was split into three companies: Carso Global Telecom, Grupo Carso, and Invercorporación. In the following year, Slim bought the Mexican arm of Sears Roebuck. 1999 saw Slim expanding his business interests beyond Latin America; he set up Telmex USA and also acquired a stake in Tracfone, a US cellular telephone company. At the same time, he established Carso Infraestructura y Construcción, S. A. (CICSA) as a construction and engineering company within Grupo Carso. In 1999 Slim had heart surgery and subsequently passed on much of the day-to-day involvement in the businesses to his children and their spouses.
América Telecom, the holding company for América Móvil, was incorporated in 2000. It took stakes in various cellular telephone companies outside of Mexico, including the Brazilian ATL and Telecom Americas concerns, Techtel in Argentina, and others in Guatemala and Ecuador. In subsequent years, there was further investment in Latin-American, with companies in Colombia, Nicaragua, Peru, Chile, Honduras, and El Salvador. 2000 also saw a venture with Microsoft which led to the start of the Spanish T1msn portal, later renamed ProdigyMSN. In 2005, Slim invested in the Volaris airline and formed Impulsora del Desarrollo y el Empleo en America Latina SAB de CV (using the acronym “IDEAL”—roughly translated as “Promoter of Development and Employment in Latin America”), a Mexico-based company primarily engaged in not-for-profit infrastructure development.
In 2007 after having amassed a 50.1% stake in the Cigatam tobacco company, Slim reduced his holdings by selling a large portion to Philip Morris for $1.1bn, while in the same year also selling his entire interest in a tile company, Porcelanite, for $800m. He licensed the Saks name and opened Saks Fifth Avenue in Santa Fe, Mexico. In 2008 he took a 6.4% stake in The New York Times Company, which increased to 8% by 2012. On December 8, 2007, Grupo Carso announced that the remaining 103 CompUSA stores would be either liquidated or sold, bringing an end to the struggling company, although the IT tech part of CompUSA continued under the name Telvista with U.S. locations in Dallas, Texas (U.S. Corporate Office) and Danville, Virginia. Telvista has five centers in Mexico (three in Tijuana, one center in Mexicali, and one in México City). After 28 years, Slim became the Honorary Lifetime Chairman of the business. He is also Chair of Teléfonos de Mexico, América Móvil, and Grupo Financiero Inbursa.
Carlos Slim has since built Plaza Carso in Mexico City, where most of his ventures share a common headquarters address. In March 2012, Slim along with American television host Larry King established Ora TV, an on-demand digital television network that produces and distributes television shows including Larry King Now, Politicking with Larry King, Recessionista, and Jesse Ventura Uncensored. The network was used as an outlet to produce a new show for Larry King after leaving CNN. On April 23, 2014 Slim took control of Telekom Austria established in seven Central and Eastern European countries outside Austria, under a 10 year agreement, being his first successful acquisition in Europe. In a syndicate holding structure the Austrian state holding company OIAG’s 28 percent are combined with Slim’s 27 percent ownership. America Movil will spend as much as $2 billion to buy out minority shareholders in a mandatory public offer and invest up to 1 billion euros ($1.38 billion) into the company, which it sees as “platform for expansion into central and eastern Europe”. Labor representatives boycotted attending the OIAG supervisory board meeting for 12 hours criticizing lack of explicit job guarantees.
Personal life
As mentioned before Carlos Slim was married to Soumaya Domit from 1967 until her death in 1999. Among her interests were various philanthropic projects, including the creation of a legal framework for organ donation. Slim has six children: Carlos, Marco Antonio, Patrick, Soumaya, Vanessa, and Johanna. Carlos Slim has made a full and complete recovery since he underwent heart surgery in 1999.
Personal fortune – Wealth
On March 29, 2007, Slim surpassed Warren Buffett as the world’s second richest person with an estimated net worth of $53.1 billion compared to Buffet’s $52.4 billion. On August 4, 2007, The Wall Street Journal ran a cover story profiling Slim. The article said, “While the market value of his stake in publicly traded companies could decline at any time, at the moment he is probably wealthier than Bill Gates”. According to The Wall Street Journal, Slim credits part of his ability to “discover investment opportunities” early to the writings of his friend, futurist author Alvin Toffler.
On August 8, 2007, Fortune reported that Slim had overtaken Gates as the world’s richest person. Slim’s estimated fortune soared to $59 billion, based on the value of his public holdings at the end of July. Gates’ net worth was estimated to be at least $58 billion. On March 5, 2008, Forbes ranked Slim as the world’s second-richest person, behind Warren Buffett and ahead of Bill Gates. On March 11, 2009, Forbes ranked Slim as the world’s third-richest person, behind Gates and Buffett and ahead of Larry Ellison. On March 10, 2010, Forbes once again reported that Slim had overtaken Gates as the world’s richest person, with a net worth of $53.5 billion. At the time, Gates and Buffett had a net worth of $53 billion and $47 billion respectively. He was the first Mexican to top the list. It was the first time in 16 years that the person on top of the list was not from the United States. It was also the first time the person at the top of the list was from an “emerging economy.” In March 2011, Forbes stated that Slim had maintained his position as the wealthiest person in the world, with his fortune estimated at $74 billion.
In December 2012, according to the Bloomberg Billionaires Index, Carlos Slim Helú remains the world’s richest person with an estimated net worth of $75.5 billion. On March 5, 2013, Forbes stated that Slim is still maintaining his first place position as the wealthiest person on the globe, with an estimated net worth of US $73 billion. On May 16, 2013, Bloomberg L.P. ranked Slim the second richest person in the world, after Bill Gates. As of July 15, 2014, Forbes announced that Slim had reclaimed the position of the wealthiest person in the world, with a fortune of $79.6 billion. In September 2014, Forbes listed Slim as number 1 on its list of billionaires with a net worth of $81.6 billion. Irrespective of where Carlos Slim is placed today among billionaires his financial achievements are remarkable.
Carlos Slim the Philanthropist
Carlos Slim has also been a very generous man for the greater Mexico at large founding three non-profit foundations concentrating on Mexico City: one for the arts, education and health care, one for sports and one for downtown restoration.
Fundación Carlos Slim Helú
Established in 1986 Fundación Carlos Slim Helú sponsors the Museo Soumaya in Mexico City, named after Slim’s late wife, Soumaya Domit, opened 2011. It holds 66,000 pieces, including religious relics, contains the world’s second-largest collection of Rodin sculptures, including The Kiss, the largest Dalí collection in Latin America, works by Leonardo da Vinci, Pablo Picasso, Pierre-Auguste Renoir, and coins from the viceroys of Spain. The inauguration in 2011 was attended by the President of Mexico, Nobel Prize laureates, writers and other celebrities. After stating that he had donated $4 billion of dividends to Fundación Carlos Slim Helú, $2 billion in 2006 and another $2 billion in 2010, Slim was ranked fifth in Forbes’ World’s Biggest Givers in May 2011. Education and health care projects have included $100 million to perform 50,000 cataract surgeries in Peru through the Clinton Initiative, a $20 million fund to strengthen small and medium-size businesses in Colombia, and a digital education program for youth in Mexico, $150 million for programs in nutrition and disease prevention in Central America with the Bill & Melinda Gates Foundation and the government of Spain, $50 million to work with the World Wildlife Fund on restoration of six areas for species in Mexico, including the monarch butterfly and $100 million on education programs for young people through Colombian singer Shakira’s Alas Foundation.
Fundación Telmex
In 1995 Slim established Fundación Telmex, a broad-ranging philanthropic foundation, which as he announced in 2007 had been provided with an asset base of $4 billion to establish Carso Institutes for Health, Sports and Education. Furthermore, it was to work in support of an initiative of Bill Clinton to aid the people of Latin America. Because Mexican foundations are not required to publish their financial information, it is not possible to confirm Slim’s claims of charitable giving through a public source however the foundation has organized Copa Telmex, an amateur sports tournament, recognized in 2007 and 2008 by Guinness World Records as having the most participants of any such tournament in the world. Together with Fundación Carlos Slim Helú, Telmex announced in 2008 that it was to invest more than $250 million in Mexican sports programs, from grass-roots level to Olympic standard. Telmex sponsored the Sauber F1 team for the 2011 season.
Fundación del Centro Histórico de la Ciudad de México A.C.
In 2000, Slim and ex-broadcaster Jacobo Zabludowsky organized the Fundación del Centro Histórico de la Ciudad de México A.C. (Mexico City Historic Downtown Foundation),to revitalize and rescue Mexico City’s historic downtown area to enable more people to live, work and find entertainment there. He has been Chair of the Council for the Restoration of the Historic Downtown of Mexico City since 2001. In 2011 he, along with the President of Mexico, Mexico City Mayor and Mexico City Archbishop, inaugurated the first phase of Plaza Mariana close to Basilica de Guadalupe. The complex, whose construction was funded by Slim, includes an evangelization center, museum, columbarium, health center, and market. These revitalization efforts are important in the modern History of Mexico City.
Other Significant Personal Achievements
Carlos Slim has been vice-president of the Mexican Stock Exchange and president of the Mexican Association of Brokerage Houses. He was the first president of the Latin-American Committee of the New York Stock Exchange Administration Council, and was in office from 1996 through 1998.
Slim was on the Board of Directors of the Altria Group (previously known as Philip Morris) until his resignation in April 2006. Slim was also on the Board of Directors of Alcatel. Slim currently sits on the Board of Directors for Philip Morris International. He was on the Board of Directors of SBC Communications until July 2004, when he quit to devote more time to the World Education & Development Fund, which is focused on infrastructure, health and education projects. In 1997, just before the company introduced its iMac line, Slim bought 3% of Apple Inc.’s stock.
Although the Mexican magnate’s growing fortune has caused controversy, because it has been amassed in a developing country where average per capita income does not surpass $14,500 a year, and nearly 17% of the population lives in poverty. Carlos Slim is a true Mexican success story, an individual from humble beginnings who has generated enormous wealth for the Mexican economy and community at large.
