Eleventh decade 1993 – 2003

Puerto Rico

  • OnSeptember 11, 2011, four terrorist events against the United States caused the death of 3,016 people, and injuries to over 6,000 others. The events were at the Twin Towers in New York, the Pentagon, and a field in Pennsylvania.
  • In 1996, Congress eliminated fiscal incentives for companies that established themselves in Puerto Rico and ordered that existing incentives be gradually eliminated. It also derogated the Section 936, albeit with a clause that allowed the incentives to persist for businesses that had already moved to Puerto Rico for a period of ten years.
  • Governor Pedro J. Roselló declared both Spanish and English its official languages.
  • In 1998, the government sold the Puerto Rico Telephone Company (PRTC), and this sale generated protests and unrest on the island.
  • On 21 September 1998, category 4 Hurricane Georges slammed into the island, causing widespread destruction and leaving most residents in a total blackout.
  • The hotel Caribe Hilton, which had been owned by the government since its inception, was sold to the Hilton hotel chain.
  • The XVII Central American and Caribbean games were celebrated on the island.
  • Pedro Rosselló was reelected to a second mandate in 1996.
  • In 1999, the civilian David Sanes Rodríguez was killed during military exercises in Vieques. This prompted a wave of protests and the occupation of Navy land by protestors.
  • In 2000, Sila María Calederón was elected Governor of Puerto Rico, the first woman to occupy the highest executive position on the island.
  • In 2004, Aníbal Acevedo Vilá was elected Governor of Puerto Rico, but both legislative chambers, the position of Resident Commissioner, and many mayorships went to the rival New Progressive Party.
  • After many protests, civil disobedience in Vieques, and a large march against military exercises, the United States Navy withdrew from the island municipality in 2003.

Banco Popular

  • After the merger with Banco de Ponce, Popular initiates a four-pronged change in its strategy: fortifying Puerto Rico, diversifying to grow through subsidiaries, better service to clients, and expansion of its business outside of Puerto Rico.
  • In 1996, Banco Popular acquires Banco Roig.
  • To sustain the use of electronic transactions, Popular becomes part of the consortium that acquired the Telefónica. There were many difficult moments in this transaction due to the protests related to the Telefónica’s sale, some directed at Banco Popular.
  • In 1999, Popular acquired GM Group, a technology company whose product would allow the bank to provide services to businesses that operated outside of their network.
  • Popular’s banking network in the United States had grown to 91 branches, and more branches were opened in the Virgin Islands. The bank began to do business in Jamaica, the Dominican Republic, and Costa Rica. Banco Popular Insurance was established.
  • Despite transparent banking practices and the integrity with which the bank has always operated, in 1997 Banco Popular received a judicial order from the Department of Justice related to a client who was accused of money laundering.
  • The federal government confiscated $21.6 million because of actions taken against the bank. By the end of the case, it was clear that the bank and its employees had not committed any crimes during their dealings with the accused client. In 2007, the Federal Reserve Bank of New York apologized to Banco Popular for the trouble they experienced and they invited Richard Carrión to sit on their Board of Directors.
  • Popular contributed funds and several initiatives to assist employees, residents, and the Blue Cross in the wake of the destruction caused by Hurricane Marilyn in the Virgin Islands and Hurricane Georges in Puerto Rico.
  • The devastation caused by the hurricanes was frightening, something Puerto Rico would relieve in 2017 upon Hurricane María’s landfall.

Music

  • This was the decade of Spanish rock and pop music. With the help of radio stations like Alfa Rock and Radio Heavy, along with the rise of the channel MTV, U.S-based rock was extremely successful in Puerto Rico.
  • Among those who stood out in this scene where René Farrait, Robi “Draco” Rosa, Ricky Martín, Chayanne, Wilkins, Tommy Torres, Luis Fonsi, Fiel a la Vega, Cultura Profética, Los Chicos, Las Cheris, Salsa Kids, and as a precursor to this pop and rock generation, Menudo. One of the forefathers of Puerto Rican pop was José Feliciano, who played soul music, rock, and Latino pop.

Christmas tree

  • Professional designers began to decorate the trees, and large stores began to sell thematic decoration kits with textures, and matching ornaments and colors.
  • Towards the end of this decade, LED lights are used for the first time.