skip to main content

Mexico

Macro View

Markets

Finance & Banking

Geostrategic & Long Term Issues

Key Indicators

Economic Activity Index
(2003=100, SA)
112.9,113.2,114.97,116.61,117.02 117.02
Consumer Price Index - Total
INPC
(Index 2002Q2 = 100, NSA)
140.86,141.86,141.41,140.51,140.47 140.47
Foreign Trade
Balance
(Million Dollars, NSA)
243.92,237.34,194.72,178.8,-340.46 -340.46
Industrial Production
Total
(2003 = 100, SA)
109.56,110.31,111.9,111.5,112.75 112.75
28 Days Interbank Equilibrium Rate [TIIE]
(Percent, NSA)
4.9,4.92,4.94,4.95,4.93 4.93
Consumer Survey
Consumer Confidence Index
(January 2003=100, NSA)
80.6,81.8,82.5,84.6,87.5 87.5
data by Moody's

RGE's Q3 2010 Mexico Outlook

RGE continues to expect Mexican GDP expansion of 4% y/y in 2010 (3.5-4.5% range), mainly driven by external demand, especially from the U.S. which RGE anticipates economic and industrial production will grow 2.6% y/y and 4.5% y/y, respectively. Although we expect domestic demand to pull up in Q2-Q3 2010, heightened global risks will likely limit upside potential in the coming months. Overall, our core base scenario for Mexico remains the same in that we expect GDP growth to peak in Q2 2010 at 6.2%—bringing H1 2010 expansion to 5.3%—and then decelerate in H2 2010 to around 3% y/y. Needless to say, at this rate Mexico will grow above potential growth of 3-3.5% and the 10-year average of 2%

Read the Q3 2010 Mexico Outlook.

 

 

 

 

RGE Analysis

LATAM FOCUS

Week Ahead (Week of August 30, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Aug 27, 2010

LATAM FOCUS

Brazil’s Spending Remains High Before Election

By Bertrand Delgado, Juan Lorenzo Maldonado and Alex Giron Aug 27, 2010

LatAm Focus: Brazil’s Inflation Reaches Bottom; Mexico on a Rocky Growth Path

By Bertrand Delgado, Juan Lorenzo Maldonado and Ana Pulido Aug 25, 2010

LATAM FOCUS

Week Ahead (Week of August 16, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Aug 13, 2010

LatAm Focus: Brazil’s Growth Decelerates While Colombia and Venezuela Mend Ties

By Bertrand Delgado, Juan Lorenzo Maldonado and Maria Paula Carvajal Aug 13, 2010

LATAM FOCUS

Mexico and the U.S. Together for the Good Times and Bad

By Bertrand Delgado and Juan Lorenzo Maldonado Aug 11, 2010

By Bertrand Delgado and Juan Lorenzo Maldonado Aug 6, 2010

LatAm Focus: Chile Recovers While Venezuelan Inflation Surprises on Downside

By Bertrand Delgado and Juan Lorenzo Maldonado Aug 6, 2010

LATAM FOCUS

Tightening Cycle to Continue in Chile and Peru

By Bertrand Delgado and Juan Lorenzo Maldonado Aug 4, 2010

LatAm Focus: Brazil Shifts to Dovish While Mexico Stays Neutral

By Bertrand Delgado and Juan Lorenzo Maldonado Jul 30, 2010

LatAm Focus: Brazil's Current Account Deficit Widens

By Bertrand Delgado and Juan Lorenzo Maldonado Jul 28, 2010

LATAM FOCUS

Week Ahead (Week of July 26, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Jul 23, 2010

LatAm Focus: Brazil's Central Bank Sees Lower Inflation Risk

By Bertrand Delgado and Juan Lorenzo Maldonado Jul 23, 2010

LATAM FOCUS

Week Ahead (Week of July 19, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Jul 16, 2010

LatAm Focus: Inflation Outlook Brightens for Brazil

By Bertrand Delgado and Juan Lorenzo Maldonado Jul 13, 2010

GLOBAL ECONOMIC OUTLOOK

Latin America: Q3 2010 Outlook

By Bertrand Delgado Jul 10, 2010

GLOBAL ECONOMIC OUTLOOK

Mexico: Q3 2010 Outlook

By Bertrand Delgado Jul 10, 2010

By Bertrand Delgado and Juan Lorenzo Maldonado Jul 9, 2010

LatAm Focus: Don't Get Too Comfortable With Falling Inflation

By Bertrand Delgado and Juan Lorenzo Maldonado Jul 8, 2010

LatAm Focus: Chile Makes a Full Post-Quake Recovery

By Bertrand Delgado and Juan Lorenzo Maldonado Jul 6, 2010

LATAM FOCUS

Week Ahead (Week of July 5, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Jul 2, 2010

LatAm Focus: Brazil Settles Into Slower Growth

By Bertrand Delgado and Juan Lorenzo Maldonado Jul 1, 2010

LATAM FOCUS

Mexico's Economic Activity Fails to Impress

By Bertrand Delgado and Juan Lorenzo Maldonado Jun 29, 2010

LATAM FOCUS

Week Ahead (Week of June 28, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Jun 25, 2010

LATAM FOCUS

Signs of Marginal Deceleration in Brazil

By Bertrand Delgado and Juan Lorenzo Maldonado Jun 24, 2010

LATAM FOCUS

Parsing Colombia's New President

By Bertrand Delgado and Juan Lorenzo Maldonado Jun 22, 2010

LATAM FOCUS

Week Ahead (Week of June 21, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Jun 18, 2010

LatAm Focus: Central Banks Determined to Tighten but Cautious of Global Jitters

By Bertrand Delgado and Juan Lorenzo Maldonado Jun 17, 2010

LATAM FOCUS

Peru Shows No Sign of Slowing

By Bertrand Delgado and Juan Lorenzo Maldonado Jun 15, 2010

LatAm Focus: Inflation Behaving but Still Under Watch

By Bertrand Delgado and Juan Lorenzo Maldonado Jun 10, 2010

LATAM FOCUS

Week Ahead (Week of June 7, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Jun 4, 2010

LatAm Focus: Eurozone Jitters Yet to Shake Mexico Consumer Confidence

By Bertrand Delgado and Juan Lorenzo Maldonado Jun 3, 2010

LATAM FOCUS

Santos on the Clear Road to Election

By Bertrand Delgado and Juan Lorenzo Maldonado Jun 1, 2010

LATAM FOCUS

Week Ahead (Week of May 31, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado May 28, 2010

LatAm Focus: Eurozone Woes Loom Over Forecasts

By Bertrand Delgado and Juan Lorenzo Maldonado May 25, 2010

LATAM FOCUS

What's Coming Up? (Week of May 24, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado May 21, 2010

LatAm Focus: Demand-Pull Pressures Keep Hurting Prices in Brazil

By Bertrand Delgado and Juan Lorenzo Maldonado May 20, 2010

LATAM FOCUS

What's Coming Up? (Week of May 17, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado May 14, 2010

LatAm Focus: Inflation Swells in Brazil, Dwindles in Mexico

By Bertrand Delgado and Juan Lorenzo Maldonado May 11, 2010

LATAM FOCUS

What's Coming Up? (Week of May 3, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Apr 30, 2010

LATAM FOCUS

Revising the Tightening Cycle in Brazil

By Bertrand Delgado and Juan Lorenzo Maldonado Apr 29, 2010

LatAm Focus: Hawkish Statements Foreshadow Brazil’s Next Move

By Bertrand Delgado and Juan Lorenzo Maldonado Apr 27, 2010

LATAM FOCUS

Seasonal Factors Temper Mexico's Inflation

By Bertrand Delgado and Juan Lorenzo Maldonado Apr 22, 2010

By Bertrand Delgado and Juan Lorenzo Maldonado Apr 20, 2010

LATAM FOCUS

What's Coming Up? (Week of April 19, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Apr 16, 2010

LATAM FOCUS

New Forecast for Brazil After Pleasant Surprises

By Bertrand Delgado and Juan Lorenzo Maldonado Apr 15, 2010

LatAm Focus: Inflation Outlook Defies Brazil's Central Bank Target

By Bertrand Delgado and Juan Lorenzo Maldonado Apr 13, 2010

GLOBAL ECONOMIC OUTLOOK

Mexico: Q2 2010 Outlook

By Bertrand Delgado Apr 12, 2010

LATAM FOCUS

What's Coming Up? (Week of April 12, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Apr 9, 2010

LatAm Focus: Blame Perishables for High Inflation

By Bertrand Delgado and Juan Lorenzo Maldonado Apr 8, 2010

LATAM FOCUS

Mexico's Inflation Outlook Dims

By Bertrand Delgado and Juan Lorenzo Maldonado Apr 6, 2010

LATAM FOCUS

What's Coming Up? (Week of April 5, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Apr 2, 2010

LatAm: What's Coming Up? (Week of March 29, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Mar 26, 2010

LatAm: All Signs Point to April Hike for Brazil

By Bertrand Delgado and Juan Lorenzo Maldonado Mar 25, 2010

LatAm: Mexico Not Yet Fueling Its Own Engine

By Bertrand Delgado and Juan Lorenzo Maldonado Mar 23, 2010

LatAm: What's Coming Up? (Week of March 22, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Mar 19, 2010

LatAm: Brazil Central Bank Still Won’t Budge

By Bertrand Delgado and Juan Lorenzo Maldonado Mar 18, 2010

LatAm: Do Brazil's Numbers Add up to a March Hike?

By Bertrand Delgado and Juan Lorenzo Maldonado Mar 16, 2010

LatAm: Brazil Strides Forward, Chile Treads with Caution

By Bertrand Delgado and Juan Lorenzo Maldonado Mar 11, 2010

LatAm: Waiting on Hikes and Surveying Quake Damage

By Bertrand Delgado and Juan Lorenzo Maldonado Mar 9, 2010

LatAm: Positive Dynamics Persist but Beware of Cool Breezes from the North

By Bertrand Delgado and Juan Lorenzo Maldonado Mar 4, 2010

LatAm: Never a Dull Moment

By Bertrand Delgado and Juan Lorenzo Maldonado Mar 2, 2010

Latin America: What's Coming Up?

By Bertrand Delgado and Juan L. Maldonado Feb 19, 2010

Latin America: What's Coming Up?

By Bertrand Delgado and Juan L. Maldonado Feb 12, 2010

Latin America: Inflation on the Rise at the Beginning of 2010

By Bertrand Delgado and Juan L. Maldonado Feb 9, 2010

Latin America: What’s Coming Up?

By Bertrand Delgado Feb 8, 2010

GLOBAL ECONOMIC OUTLOOK

Mexico: Q1 2010 Outlook

By Bertrand Delgado Jan 30, 2010

Carry Trade Hotspots: A Currency by Currency Forecast for 2010

By Mikka Pineda, Mary Stokes, Bertrand Delgado, Mikko Forss, Kavitha Cherian, Arpitha Bykere and Christian Menegatti Jan 4, 2010

Come to Mother: An RGE Strategy for the 2010 Carry Trade

Arnab Das, Natalia Gurushina, Jennifer Kapila, Elisa Parisi-Capone Jan 4, 2010

RGE Currency Outlook: The Mexican Peso

By Bertrand Delgado Jan 1, 2010

Latin American CDS: Fully Recovered, What Are the Risks?

Alejandro Rivera, Elisa Parisi-Capone and Bertrand Delgado Nov 13, 2009

Global Monetary Policy Outlook

The RGE Analyst Team Nov 11, 2009

Are Capital Controls in Fashion Again?

RGE Analyst Team Oct 28, 2009

Mexico Economic Outlook, Q4 2009

Bertrand Delgado Oct 7, 2009

Mexico Economic Outlook, Q3 2009

Bertrand Delgado Jul 24, 2009

ECB, BoT, BoK, BoE, BoJ; China; Mexico; Iceland

Christian Menegatti Apr 10, 2008

EconoMonitors

RGE Analysts' EconoMonitor

Mexico: Investors Looking at Business Confidence and Future Growth

Bertrand Delgado Aug 30, 2010

Latin America Economonitor

Rule of Law and Security Update

Alejandro Schtulmann Jul 23, 2010

Latin America Economonitor

Mexico’s July 4th State and Local Elections Results: Analysis and Ramifications

Alejandro Schtulmann Jul 15, 2010

Latin America Economonitor

Mexico: Labor Reform, One Last Attempt?

Alejandro Schtulmann Apr 7, 2010

Latin America Economonitor

High Business Inequality, Very Low Productivity

Eduardo Lora Mar 25, 2010

RGE Analysts' EconoMonitor

Exit Strategy Has begun in Brazil, Inflation Surprised to the Downside in Mexico

Bertrand Delgado and Juan Lorenzo Maldonado Feb 25, 2010

RGE Analysts' EconoMonitor

Latin America: A Closer Look at Inflation and Growth Dynamics in Brazil, Mexico, Argentina and Colombia

Bertrand Delgado, Juan Lorenzo Maldonado, and Christian Menegatti Feb 23, 2010

RGE Analysts' EconoMonitor

Stars Align for an Early Hike in Brazil, Mexico's Regulators Ease Pension Fund Investment Rules

Bertrand Delgado and Juan Lorenzo Maldonado Feb 18, 2010

RGE Analysts' EconoMonitor

Latin America: Positive Growth Dynamics but Deteriorating Inflation Expectations

Bertrand Delgado and Juan Lorenzo Maldonado Feb 11, 2010

Latin America Economonitor

Mexico - 2010 State and Local Elections: Relevance, Current Dynamics, and Outlook

Alejandro Schtulmann Feb 3, 2010

Latin America Economonitor

A New Latin American Boom Seems to be Starting but it will be Plagued with Risks

Eduardo Lora Feb 2, 2010

Latin America Economonitor

Mexico: Five Key Political Risks in 2010

Alejandro Schtulmann Jan 15, 2010

Emerging Markets Monitor

In Praise of Roads

Walter Molano Jan 14, 2010

Latin America Economonitor

Outlook for Mexico in 2010

Alejandro Schtulmann Jan 12, 2010

Latin America Economonitor

Carstens Proposed to Lead Banxico; Cordero Goes to Hacienda; Changes Do Not Improve the Status Quo; Political Appointments Prevail at Hacienda and Sedesol

Alejandro Schtulmann Dec 10, 2009

Latin America Economonitor

Banxico’s Chairman Election Process: Unnecessary Uncertainty

Alejandro Schtulmann Dec 8, 2009

Latin America Economonitor

Drug Violence: Reaching a New Pinnacle

Alejandro Schtulmann Nov 17, 2009

RGE Analysts' EconoMonitor

Latin American CDS: Fully Recovered, What are the Risks?

Alejandro Rivera, Elisa Parisi-Capone and Bertrand Delgado Nov 17, 2009

Latin America Economonitor

The End of Luz y Fuerza: Recap, Analysis, and Ramifications

Alejandro Schtulmann Oct 20, 2009

Latin America Economonitor

Desertion, Low Morale, and Readiness: Assessing the Mexican Army’s Involvement in the War Against the Cartels and its Impact on Capabilities for Traditional Responses

Alejandro Schtulmann Sep 29, 2009

Latin America Economonitor

On the Links to a Recovery in Latin America

Javier Guillermo Gomez Pineda Sep 8, 2009

Daily Digest

News

UPDATE 1-Mexico inflation outlook falls, growth up in poll

Reuters  Patrick Rucker Sep 01, 2010

News

Mexico parades ‘The Barbie’ drugs suspect

Financial Times  Adam Thomson Aug 31, 2010

News

Mexico to announce plan to protect migrants

CNN  Arthur Brice Aug 31, 2010

News

Mexico's Next War of Independence: Against the Narcos?

Time  Tim Padgetth and Dolly Mascareñas Aug 31, 2010

News

Mexico Purges 3,200 Police Officers in Anti-Corruption Drive

Bloomberg  Thomas Black and Jens Erik Gould Aug 30, 2010

News

Rising China Wages Cut Advantage Over Mexico, Flextronics Says

Bloomberg  Frederik Balfour and Tim Culpan Aug 30, 2010

News

Mexican troops hunt killers of 72 migrants

Reuters  Henry Romero Aug 26, 2010

News

Mexico: Zetas gang ordered killing of mayor

AP  E. EDUARDO CASTILLO Aug 25, 2010

News

Factbox: Worst attacks in Mexico's drug war

Reuters  Robin Emott Aug 25, 2010

Opinions

Mexico: Rosy Present, Uncertain Future

Credit Suisse  Pascal Rohner Aug 24, 2010

Analysis

Did trade liberalisation benefit women? The case of Mexico in the 1990s

VoxEU  Chinhui Juhn, Ernesto Aguayo-téllez and Jim Airola Aug 24, 2010

News

Mexicana Pilots, Local Investor Group Buy Mexican Airline in Bankruptcy

Bloomberg  Jens Erik Gould Aug 23, 2010

Blogs

In Mexico, where the trouble isn’t

LA TImes  Christopher Reynolds Aug 23, 2010

News

Mexico June Retail Sales +1.5 Yr/Yr, Wholesale +5.3%

iMarket News  Aug 23, 2010

News

UPDATE 1-Mexico June retail sales down 0.77 pct from May

Reuters  Patrick Rucker Aug 23, 2010

News

Police Arrested in Slaying of Mexico Mayor

New American  Kelly Holt Aug 23, 2010

News

Mexico's Peso Falls for a Fourth Day on Concern of U.S. Economic Slowdown

Bloomberg  Andres R. Martinez Aug 23, 2010

News

UPDATE 1-Minefinders finds new mineralized zone at Mexico mine

Reuters  Bhaswati Mukhopadhyay Aug 19, 2010

News

Analysis: Mexico will keep buying U.S. pork despite tariff

Reuters  Bob Burgdorfer Aug 19, 2010

News

Lawmakers in Mexico to Debate Drug Fight

NYT  Elizabeth Malkin Aug 19, 2010

News

Mexican Mayor Cavazos Found Dead Near Monterrey After Aug. 15 Kidnapping

Bloomberg  Jens Erik Gould Aug 18, 2010

News

Factbox: Worst attacks in Mexico's drug war

Reuters  Aug 18, 2010

News

Mexico Imposes Tariffs on U.S. Food Products in Dispute Over Truck Access

Bloomberg  Jens Erik Gould and Laura Price Aug 18, 2010

News

UPDATE 2-Mexico appoints new deputy finance minister

Reuters  Patrick Rucker and Robert Campbell Aug 18, 2010

Blogs

Mexico Is Right To Retaliate Over U.S. Ban On Mexican Trucks

Forbes  Dan Ikenson Aug 18, 2010

News

Mexico: City’s Mayor Is Kidnapped

NYT  Aug 17, 2010

News

Ambassadors Say Mexico Is Not a Failed State

The Texas Tribune  Julian Aguilar Aug 17, 2010

News

Mexico Peso Rises for Fourth Straight Day as U.S. Earnings Beat Estimates

Bloomberg  Andres R. Martinez Aug 17, 2010

News

Blast hits Mexican TV station

AL Jazeera  Aug 16, 2010

News

Thinking the unthinkable

The Economist  Aug 12, 2010

News

EMERGING MARKETS-Colombia, Chile peso dip on intervention talk

Reuters  Michael O'Boyle Aug 13, 2010

News

Obama signs border security bill, with no comment

US Today  MANDEL NGAN Aug 13, 2010

Blogs

Weekly Roundup from Across the Americas

Americas Quarterly  AS-COA Online Aug 11, 2010

News

Mexico rethinks drugs strategy as violence escalates

Guardian  Jo Tuckman Aug 12, 2010

News

Solar company cuts US jobs, expands in Mexico

Business Week  Aug 12, 2010

News

Mexico President Seeks Crime Answers

NYT  Aug 12, 2010

News

EMERGING MARKETS-Latam stocks slip on U.S., China slowdown woes

Reuters  Michael O'Boyle and Luciana Lopez Aug 11, 2010

News

Mexico Peso Declines for First Time This Week on Economic Recovery Outlook

Bloomberg  Andres R. Martinez Aug 11, 2010

Opinions

Mexico facing uncertain future

JDNews  Aug 10, 2010

News

The Drug War in Mexico: By Any Other Name it's Terrorism

Mexidata  Barnard R. Thompson Aug 09, 2010

News

Ex-Mexico president calls for legalizing drugs

AP  E. EDUARDO CASTILLO Aug 09, 2010

News

Mexico's Drug Cartels up the Ante in Desperation

The Cutting Edge  Stratfor Aug 09, 2010

Analysis

Mexico's Oil Production in the Wake of the Gulf Oil Spill

Center for Strategic and International Studies  Aug 05, 2010

News

Mexico Peso Rises for Fifth Day on Manufacturing, Service Data

Business Week  Andres R. Martinez Aug 05, 2010

Analysis

Mexico and China: Partners or Competitors?

COHA  Jeanie Gong Aug 03, 2010

News

Mexico Peso Rises for Fourth Straight Day as Investors Seek Higher Yields

Bloomberg  Andres R. Martinez Aug 04, 2010

News

Mexico's IMEF Manufacturing Index Slips For 3rd Month In July

Wall Street Journal  Laurence Iliff Aug 03, 2010

News

Mexico's 1-month Cetes yield seen flat in auction

Reuters  Lorena Segura Aug 04, 2010

News

UPDATE: General Motors To Invest $500M In Mexico Plant

Wall Street Journal  Paul Kiernan Aug 03, 2010

News

Mexico: Remittances drop 4 pct in 1st half of 2010

Business Week  Aug 04, 2010

News

Mexico Peso Rises a Fourth Day as Investors Seek Higher Yields

Business Week  Andres R. Martinez Aug 04, 2010

News

Drug-related Violence Growing In Mexico

RTT News  Aug 04, 2010

News

EMERGING MARKETS-Latam stocks fall on U.S. data

Reuters  James Matthews Aug 03, 2010

News

UPDATE 1-Mexico's Penoles posts lower second-quarter profit

Reuters  Mica Rosenberg Aug 03, 2010

News

Mexicana seeks creditor protection in Mexico and U.S.

Reuters  Cyntia Barrera Diaz Aug 03, 2010

Analysis

A Guide to Mexican Investing

Seeking Alpha  World Market Pulse July 30, 2010

News

Media 'under attack' in Mexico

AL Jazeera  Mariana Sanchez Aug 03, 2010

News

FAA Downgrades Mexico Safety Rankings, Aeromexico Responds

Travel Agent Central  Joe Pike Aug 03, 2010

Opinions

Leaning against Chávez?

The Miami Herald  SUSAN KAUFMAN PURCELL Aug 03, 2010

News

Mexico's Stocks, Currency Piggyback On Global Market Rally

Wall Street Journal  Ken Parks Aug 02, 2010

News

Mexico Peso Gains to Strongest Level Since June on Earnings, U.S. Stocks

Bloomberg  Andres R. Martinez Aug 02, 2010

News

Mexico's violence largely spares foreign firms

Reuters  Patrick Rucker Jul 29, 2010

Opinions

Colombia Can Win Mexico’s Drug War

NYT  Gustavo A. Flores Macias Jul 30, 2010

News

US Closes Consulate in Mexico's Ciudad Juarez

VOA News  Jul 30, 2010

News

Mexico's Central Bank Maintains 2010 Economic Growth Forecast at 4% to 5%

Bloomberg  Andres R. Martinez and Jonathan J. Levin Jul 28, 2010

News

Drug Hitmen Kidnap Four Mexican Journalists

ABC News  Jul 28, 2010

News

Mexican Tortillas Assure Carstens Lending Rate Can Stay Steady

Bloomberg  Jonathan J. Levin Jul 28, 2010

News

EMERGING MARKETS-Latam stocks rise on earnings, U.S. data

Reuters  Luciana Lopez Jul 27, 2010

News

Mexican Peso Rises to the Strongest Level in a Month on Growth

Business Week  Andres R. Martinez Jul 27, 2010