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Friday, a press conference due to be held at the 2,400 megawatt, $5 billion USD Hidroituango hydroelectric dam featuring Medellín’s Mayor Daniel Quintero was canceled just hours before it was to take place. This was the third consecutive press conference to discuss the project’s...

Medellín is showing a rise in property crime of 20%, while Envigado has managed to remain stable with only a 1% increase.

"Medellin is partner in the ownership of 5 airports in Colombia: Rionegro, Olaya Herrera, Encarepa, Enquito, Corozal Sucre. When an airplane lands in any of those airports, Medellin earns some pesos."

"From SINPRO we see with great concern how in this administration there have been repetitive changes in the EPM structure and appointments that affect the transparency and the rigors that have characterized our company."

he event, organized by Mayor Daniel Quintero and the municipal investment promotion agency ACI Medellin hosted ambassadors from several countries.

EPM’s management has been a constantly revolving door since Medellín’s Mayor Daniel Quintero took office, the utility seeing 4 CEOs in less than two years, resignation of the board of directors, and further intrigue. Now that instability appears to be affecting Afinia.

Not only did Quintero fire Rendón earlier this year after appointing him to head the city-owned utility conglomerate a year before, Quintero made several public statements that Rendón considers disparaging, slanderous, and untrue leading to the lawsuit.

City council member Daniel Carvalho has said enough is enough, and that the mayor’s mismanagement is putting Colombia’s second largest enterprise and Medellín’s single largest municipal revenue source at grave risk.

Bond investors and ratings agencies will be watching closely for signs that Carrillo has both the autonomy and acumen to successfully move the company forward while avoiding the political intrigue brewing in Colombia’s second largest city.

The letter of resignation came just hours after a contentious press conference where Calderón wished to discuss his investment plan, but the press, including Finance Colombia, wished to delve into the numerous gaps and inconsistencies in his qualifications.