by Kay B. Day
Labor union anger doesn’t just happen in the U.S. Right now Mexico’s president Felipe Calderón has his hands full because of financial and production problems at state-owned Luz y Fuerza del Centro. The Wall Street Journal said Calderón “sent more than 1,000 riot police to take over operations.” The utility provides light and power to approximately 25 million customers. The president justified his actions by claiming subsidies for the power company were unaffordable, and he said, “Today, we have to change what doesn't work in the country." Expenses were double the amount of revenue—a balance sheet only a bureaucracy could love. And last year the company lost 1/3 of the energy it bought from Mexico’s main generator said the WSJ.