EUR/USD closed slightly higher on Tuesday as it consolidates some of last Friday's decline. The mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI are bearish signalling that a short-term top might be in or is near. Closes below the 20-day moving average crossing...

It is a sign of the times when a decline of 1.0% M/M in durable goods orders can be viewed as a minor victory. But that is indeed the case since the market had expected a 3.0% fall, and a close examination of some of the other aspects of the...

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LAS CRUCES — Discussions about negotiations between city administrators and El Paso Electric Co. on a new franchise agreement and direction to city administrators about Las Cruces Country Club property will be part of the Las Cruces City Council's monthly work session at 1 p.m. Monday at City Hall.

The city's existing franchise agreement with El Paso Electric will expire in April. It was extended two years when the former council voted to do that in January 2007.

The former council rejected a proposed franchise agreement with El Paso Electric because of concerns at that time that the electric company was seeking a rate increase. There was consensus among the council that a new franchise agreement could benefit El Paso Electric's efforts for a rate increase.

At the time, the company was seeking an 18 percent increase in rates, but the New Mexico Public Regulation Commission ultimately approved a substantially lower percentage.

The council also informally agreed at the time it rejected the proposed franchise agreement that residents needed to be involved in negotiations. Most of El Paso Electric's 80,000 customers in New Mexico are city residents or businesses.

The public will also have the opportunity Monday to comment and get more information about the upcoming negotiations, and understanding the process.

The franchise agreement would continue to grant El Paso Electric the right to use city-owned rights of ways to construct, reconstruct, repair, and maintain its infrastructure for distributing electricity.

The city has hired the Albuquerque law firm of Keleher & McLeod to assist in the renegotiations of a new agreement. As part of its contract with the city, the law firm will conduct several public meetings to gather comments from residents about a new agreement. Specific dates and times of those future meetings as still being determined, but they are likely to be conducted in January and February.

The council will also be updated on the status of its participation in attempts to preserve the green and open space at Las Cruces Country Club. Some residents living near the country club have asked city officials to intervene in possible efforts to develop the country club property after it has been transferred to Las Cruces developer Philip Philippou.

Country club members have agreed to transfer ownership of the golf course property to Philippou when a new Las Cruces Country Club opens next year in the new Sierra Norte subdivision.

Philippou has met with city officials and some country club residents and has apparently agreed to consider possible alternatives, provided Philippou's investment is not compromised.

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