Friday’s Top Stories
- Former New Mexico lawmaker to stand trial on federal fraud charges after years of delays
- How many pounds of illegal cannabis has the New Mexico Cannabis Enforcement Bureau destroyed?
- New Mexico regulators order Blackstone and PNM’s parent company to undo $400M stock transaction
- Four New Mexico lawmakers to propose bill that would pause construction of new data centers
- AFR and APD to patrol looking for illegal fireworks starting Friday
- New Mexico Department of Justice requests records on DEA’s handling of fentanyl investigations
Friday’s Five Facts
[1] New Mexico regulators order Blackstone and PNM’s parent company to undo $400M stock transaction – State regulators have ruled that a $400 million stock trade between PNM and private equity firm Blackstone broke state law. The decision came after hundreds of PNM customers filled a public regulation hearing Thursday to oppose the merger. While that ruling will not affect the proposed plans, the two companies must find a way to undo the transaction as commissioners say they did not seek approval first. The Public Regulation Commission says both companies must submit a compliance report within 30 days to show how they plan to void the transaction. After that, the commission will determine the next steps for the proposed acquisition. PNM says they are reviewing the order and Blackstone declined to comment.
[2] Crews battle fire at St. Catherine’s Indian School in Santa Fe – One person is behind bars after a fire engulfed a historic Santa Fe school. The fire started Thursday afternoon at the closed down St. Catherine’s Indian School located near the national cemetery. We spoke with one resident who used to attend church on campus, expressing sadness at the loss of a building on the 140 year old campus. Police have not said if the person in custody will be facing any charges
[3] Seasonably hot holiday weekend ahead – Hot weather is in store this holiday weekend, reaching the 80s, 90s, and 100s in parts of New Mexico. Spotty showers and storm chances are possible on Saturday before we get to more increasing coverage on Sunday…