2026-07-072026-07-07http://salesiana.dossiersoluciones.com/handle/123456789/33627This is a review of current black-hole theory, concentrating on local, dynamical aspects.Expanded version of the brief talk given to open the Generalized Horizons of the Ninth Marcel Grossmann Meeting (7 revtex pages, 4 eps figures, minor changes)General Relativity and Quantum Cosmologytext