Category: Montana Lending


Florida Generates the Most Homeowners’ Bonuses in the US: AM Best

November 22, 2022

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Florida is the US state with the most premiums in home insurance lines, AM Best analysts have revealed.

Despite being only the third most populous state, it generated $12.4 billion in direct homeowner bonuses in 2021. That’s more than California, the most populous state, with 11, $2 billion in direct homeowner bonuses, and the second most populous Texas at $11.9 billion. , according to BestLink.

Analysts have pointed out that Florida’s storm-prone location and tough litigation environment keep it at the forefront among U.S. states for losses and the cost of home insurance.

AM Best said: “The total direct premium for owners’ carriers in Florida continues to grow, increasing 11.7% from 2020 to 2021. Florida’s rise was the fourth largest year-over-year percentage increase in 2021. , behind California and the fast-growing Idaho and Montana. The direct premium for owner carriers, in total in the United States, reached $119.7 billion in 2021, an increase of 8.4% compared to 2020.

Analysts also found that due to market dynamics over the past year, some carriers have had to reassess their approach to Florida real estate risk.

Stratumn, by SIA Partners

For example, in July 2022, Bankers Insurance Group announced that it was filing an application to exit the business of owners in Florida, citing in a letter its concerns about maintaining its ability to meet the requirements of sponsored companies by the government, such as Fannie Mae and Freddie Mac.

Shareholder-owned GSEs have been licensed by the US Congress to facilitate mortgage and agricultural lending, including the Federal National Mortgage Association, commonly referred to as Fannie Mae and Federal Home Loan Mortgage Corporation, or Freddie Mac. They incorporate references to AM Best designations in their insurance evaluation documents.

Freddie Mac establishes a requirement that AM’s top-rated insurers and reinsurers must possess a financial strength rating of B+ or better, and non-admitted insurers must hold a minimum rating of A (Excellent).

Fannie Mae requires insurers and reinsurers with the highest AM ratings to hold an FSR of B (Fair) or better.

Bankers Insurance Group is not alone in deciding to pull out of the Florida homeowners market, as it has been joined by 13 other companies that have stopped underwriting homeowners insurance in the state this year, according to Mark Friedlander of the Insurance Information Institute.

Three have since become insolvent, Friedlander added. Of the remaining 10, three said they were voluntarily leaving homeowners’ lines in Florida.

The other seven called the moratorium on new business temporary but did not say when they might resume writing. Many cite the state’s legislative inaction to dissuade trial attorneys from taking action against real estate carriers, Friedlander said.

The rating agency also noted how dependent insurers operating in Florida are on reinsurance. AM Best said, “Each year, insurers operating in the Sunshine State cede billions of dollars in reinsurance premiums.

“Deal retention rates, defined as the percentage of a company’s raw paperwork that is retained for its own account, range from low numbers to 100%. Much of Florida’s reinsurance support comes from Bermuda-based reinsurers.

He added, “AM Best defines Florida personal property specialists as Florida-domiciled regional insurers with predominant exposures to Florida personal property insurance. The commentary revealed that “Florida personal property specialists show significantly higher reliance on reinsurance than the industry average.”

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CIL expects 50 million tonnes sales through e-auctions in H2

November 16, 2022

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State-owned Coal India expects sales of around 50 million tonnes through its online auction platform in the second half of this fiscal year.

The coal miner had sold around 30 million tonnes through the online auction platform in the first half.

“We have already done 30 mt in two quarters. In the third and fourth quarters, another 50 tons should be there. I won’t be able to commit anything, but it will be more than what we have done. EYELASH President Pramod Agrawal told reporters on the sidelines of the Global Mining Summit 2022, hosted by CII.

In the last fiscal year, the volume of electronic auctions amounted to 108 million tonnes.

In the second quarter of this fucal, Coal India had sold 10.36 million tons through electronic auctions and the average realization was Rs 6,061 per ton. The realization of coal sales under the fuel supply agreement was Rs 1413 per ton from sales of 141 million tons.

Read also : Five Star Business Finance Sticks to Secured Loan Segment

“Until now, the priority has been to meet the needs of the electricity sector and our production has increased this year. So in the third and fourth quarters, we will see an increase in electronic auction volume,” Agrawal said.

According to him, the coal miner was all about evacuation and sustainability.

Production will not be a problem but evacuation will be a challenge, he said.

“The company was investing heavily in first-mile connectivity and mechanized evacuation…in three or four years most evacuations will be mechanized,” Agrawal said.

“We have aggressively embraced digitization. Having real-time online data can help improve productivity by 20-30%,” he said.

The FTX Saga: Lessons We Knew But Didn’t Learn

November 13, 2022

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Key points to remember

  • The collapse of Sam Bankman-Fried’s empire shocked the crypto industry and set it back years.
  • The industry overlooked too many red flags, which allowed Bankman-Fried to rise to prominence.
  • The FTX debacle could have been avoided if crypto had stayed true to its fundamentals: don’t trust, verify; and always keep your assets clean.

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After Do Kwon, Three Arrows Capital and Alex Mashinsky set the standard for outrageous misconduct in the crypto space this year, Sam Bankman-Fried’s dramatic downfall brought to mind one of the internet’s most popular memes. : “Hold my beer.”

This week it was revealed that SBF, while hes known in crypto circles, blew a $10 billion hole in the balance sheet of one of the once largest and most trusted centralized cryptocurrency exchanges, FTX. It will take months for the dust to settle and the extent of the damage to become clear.

The lessons that this industry will have to (re)learn to emerge from this crisis, however, will be the same ones it has always preached. Rule 1: not your keys, not your coins; and Rule 2: Don’t Trust, Verify.

Trusted third parties are security holes

Almost 14 years after Satoshi Nakamoto published the Bitcoin White Paperwhere they outlined the plan for “a purely peer-to-peer version of e-money that would allow online payments to be sent directly from one party to another without going through a financial institution,” the crypto looped the loop and most of its trading volume occurred on centralized exchanges, i.e. financial institutions.

Satoshi made his motivation for creating Bitcoin clear, saying he wanted to eliminate the reliance of the financial system on third parties. And even if whoever stood behind Satoshi’s alias was a genius, that idea wasn’t theirs. In 2001, polymath and godfather of smart contracts, Nick Szabo, published a blog post titled “Trusted third parties are security holes.In it, he pointed out the dangers of building systems that rely on trusted third parties and the critical need to build those that don’t.

Then Satoshi came along and created an alternative; Bitcoiners, especially “those pesky, toxic crypto devotees” love to hate, intuitively figured out the idea behind it, latched onto it, and prophesied it to the masses. “Not your keys, not your coins” has become a mantra for the space, aimed at emphasizing the need to self-custody crypto instead of relying on centralized intermediaries. Yet many have ignored this advice. Despite numerous warnings, including the Mount Gox and QuadrigaCX In 2014 and 2019, this year thousands of crypto enthusiasts, including some industry veterans, saw their fortunes wiped out because they used centralized crypto exchanges or lending platforms.

Not only did people choose not to “verify”, but they also blindly trusted completely opaque and inherently risky companies. Billions of dollars have been stuffed into black boxes and guarded by selfish egoists, while the industry has backed off and done nothing. Then we acted shocked when the risks showed up—as if Satoshi hadn’t laid them out clearly in the white paper.

The worst thing about the FTX crisis is that the red flags were clear from the start.

Red flags surrounding FTX

Sam Bankman-Fried made a name for himself in crypto after founding FTX in 2019. He quickly became a prominent industry figure and mainstream media darling without showing any evidence of work demonstrating his previous skills, becoming the world’s richest under 30 as FTX hit $32 billion. dollars in 2022. Bankman-Fried has become known for his geeky personality. and plans to give away his staggering wealth through effective altruism – the wealth he has accumulated rent-seeking and wholesale hopium to venture capitalists who resold it to crypto-tourists looking to make a quick buck by flipping the latest hot coins on the market.

The predatory practices of Alameda Search, the Bankman-Fried trading company founded in 2017, is no secret to the industry. The firm has mined the governance tokens of dozens of promising DeFi projects and then cast them into oblivion, in many cases hurting retail investors and the projects themselves beyond repair. Bankman-Fried also became a strong supporter of Solana, the Layer 1 network whose total value locked was widely inflated by two brothers posing as a team of DeFi developers. Solana has went down several times since it exploded in 2021 and its ecosystem has taken a heavy hit due to the collapse of FTX.

Bankman-Fried has spent this year sticking his face on FTX billboards, mingling with The politicians and regulators, and lobbying for the Digital Products Consumer Protection Act (ACCPD) bill that, if passed, would effectively kill decentralized finance. In other words, he fought his way to the top, then tried to pull the ladder under him to sabotage everyone.

Bankman-Fried oversaw FTX, while Alameda Research was led by Caroline Ellison, a 28-year-old woman with just 19 months’ experience as a junior trader at Jane Street. In 2021, she sparked controversy when she revealed on Twitter that she was using amphetamines. “Nothing like regular amphetamine use to make you realize how stupid a normal, non-drug human experience is,” she wrote. A year later, Ellison found herself at the epicenter of the FTX scandal after it emerged that Bankman-Fried had moved around $10 billion of FTX client money to help the company fight a insolvency crisis.

While plenty of other shenanigans were likely going on behind closed doors, some of which may surface and some that we may never find out, the red flags with Bankman-Fried and Ellison were there for all to see. . Yet very few did – and no one predicted the couple’s fraudulent antics. We fell in love with their spiel despite watching several similar episodes of the same soap this year.

Unfortunately, there are still many red flags in the industry.

We never learn

The events of the past week in crypto are nothing new. History is full of abuse of trust, money and power. This is why Satoshi invented Bitcoin – to create a solid monetary system that eliminates the need for trust and cannot be abused. But it seems we can’t help ourselves. The end of Jeremy Irons monologue in the movie margin call sums it up perfectly:

“It’s just money; it’s invented. Pieces of paper with pictures on them, so we don’t have to kill each other just to get something to eat. It’s not false. And it is certainly no different today than it has ever been. 1637, 1797, 1819, 37, 57, 84, 1901, 07, 29, 1937, 1974, 1987 – Jesus, that didn’t screw me up – 92, 97, 2,000, and whatever you call it. It’s just the same thing over and over again; we can’t help ourselves.

Change the years of financial crises with crypto explosions, i.e. Mt. Gox, QuadrigaCX, Voyager Digital, Celsius, FTX, BlockFi, and the parallels are clear. It’s just the same cycle repeating itself. It seems that we never learn.

In a strange cosmic irony, the crypto industry had come full circle, picking out and replicating the worst aspects of the traditional financial world it initially sought to subvert. Reliance on trusted third parties, shady off-chain transactions, over-leveraged and unsecured borrowing for relentless risk-taking – we’ve done it all, and done it shamelessly, in typical cypherpunk fashion. Only this time, the government and the central bank’s endless balance sheet won’t be there to cushion the blow, privatize the gains and socialize the losses, as has been the real-world tradition for some time.

And for the nocoiners armed and ready to shout, we told you so” – relax. It didn’t happen because crypto is a scam, or because crypto is unregulated. FTX was a regulated company under the comprehensive laws and regulations of the same offshore jurisdictions as your politicians who promote these nonsensical mantras to hide their wealth. In other words, a regulated company has done something illegal without being caught by regulators. What a shock, right?

We screwed up royally this time, not because our goals were dastardly, but because we failed to learn the lessons we already knew: don’t ignore the red flags; don’t trust, verify; and always keep your assets clean.

Disclosure: At the time of writing this article, the author of this feature held ETH and several other cryptocurrencies.

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Goeasy Reports Record Third Quarter Adjusted Net Profit; Loan originations up year-over-year

November 10, 2022

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Newswires MT 2022

All the news from GOEASY LTD.

Analyst Recommendations for GOEASY LTD.

2022 sales 1,022 million
764 million
764 million
Net income 2022 163 million
122 million
122 million
Net debt 2022

PER 2022 ratio 13.5x
2022 return 2.76%
Capitalization 2,033 million
1,520 million
1,520 million
capi. / Sales 2022 1.99x
capi. / Sales 2023 1.68x
# of employees 2,300
Floating 75.8%


Duration :

Period :




goeasy ltd.  Technical Analysis Chart |  MarketScreener

Trends Technical Analysis GOEASY LTD.

Short term Middle term Long term
Tendencies Bullish Neutral Neutral




Evolution of the income statement

Sale

To buy

Medium consensus TO BUY
Number of analysts 9
Last closing price $128.01
Average target price $199.00
Average Spread / Target 55.5%


The ADJD warns against the risks of unbridled borrowing

November 6, 2022

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The Abu Dhabi Judicial Department (ADJD) has warned of the dangers of excessive borrowing and its negative effects on the individual, family and society, in terms of psychological, social or economic pressures that can cause the collapse and disintegration of the family unit and lead to serious misconduct, highlighting the importance of good management of financial resources and establishing spending plans commensurate with income.

Advice against uncontrolled borrowing was given at a credit risk awareness conference, organized by the ADJD in coordination with Majalis Abu Dhabi of the Citizens and Community Affairs Office of the Presidential Court, within the framework of the “Majalesna” initiative, in accordance with the directives of His Highness Sheikh Mansur bin Zayed Al NahyanDeputy Prime Minister, Minister of the Presidential Court and Chairman of the Judiciary Department of Abu Dhabi, to promote awareness and spread legal culture among various segments of society so as to promote the maintenance of security and stability.

dr. Turki Al-Qahtanisenior family counselor at the ADJD, reviewed during its sensitization conference hosted by the Majlis Suhail Shaheen Al-Mararin Khalifa City, Abu Dhabi, the effects of reckless borrowing or lending for unnecessary uses, and stressed the importance of rationalizing expenditures to avoid the risks of unsustainable credits which can lead to a spiral of negative repercussions and impact on social stability.

dr. Al Qahtani also explained that social stability depends on the ability to meet basic needs in terms of goods and services, and that the economic dimension has a clear impact on the perception of security and psychological stability, in addition to securing aspects related to health for the family and meeting all the needs of its members, which involves consolidating a culture of savings, efficient management of financial resources and the adoption of rational spending habits.

-Ends-

Post Courier MiBank Launches Farmer Loan Product

November 3, 2022

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BY RITA PEKI

MiBank in Mt Hagen has launched an agricultural loan product allowing farmers to obtain loans to develop their agricultural activities.

The launch of the loan scheme under the Market for Village Farmers (MVF) project took place outside the MiBank branch in Mt Hagen on Tuesday.

MiBank Chief Credit Officer Wayne Honeyselt said the project aims to facilitate access for farming households and other value chain actors to affordable and diversified financial services, including basic credit services, savings, insurance and funds transfer through innovative and digital distribution channels.

“The objective of the project is to improve the livelihoods of village farming households in selected provinces by facilitating the transition from semi-subsistence agriculture to market-oriented production and commercial agriculture,” said said Mr. Honeyselt.

“At MiBank, we recognize that village farmers should have adequate access to credit to enable them to play a more active role in economic development. We are therefore prepared to consider providing loan facilities to farmers who would not normally be able to provide collateral of the type or amount that financial institutions would otherwise require.

“We are delighted to launch this farmer loan product in Mt Hagen Western Highlands, a province well known for the quality of its fresh produce.

He said the loan product will be made available at their 16 branches nationwide, however, the focus will be on the Western Highlands and other select provinces that are considered part of the food bowl in PNG. .

Mr Honeyselt said the MiBank farmer loan will allow farmers to access finance based on their track record of selling crops to local produce buyers.

“We are convinced that this access to credit will enable farmers to increase crop yields and quality through the purchase of seeds, fertilizers, solar equipment, machinery, water tanks, etc. , so the result will be better financial gains, improved living standards, and financial independence,” he said.

Chaske Spencer on his new role in English

October 31, 2022

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Westerns are getting chic again apparently. Proof of this? Well you might just want to check English, a gritty new western series starring Emily Blunt and Chaske Spencer. Written and directed by Hugo Blick, the series is set in the mythical landscape of central America in 1890.

English follows Cornelia Locke (Emily Blunt), an Englishwoman who arrives in the wild new landscape of the West to seek revenge on the man she believes is responsible for her son’s death. By meeting Eli Whipp (Chaske Spencer), a former cavalry scout and a member of the Pawnee nation by birth, they unite and discover a common history that must be defeated at all costs, if either of them is to survive.

For Chaske, this new role is the latest in a long line of endearing characters he has portrayed in television and film. Best known for his portrayal of ‘Sam Uley’ in the Twilght Saga: New Moon, Eclipse and Breaking Dawn I and IIChaske also starred in the Susanna White directed feature Woman Walks Ahead opposite Jessica Chastain and Sam Rockwell.

Chaske Spencer

Hailing from the Lakota Sioux tribe and raised on Indian reservations in Montana and Idaho, the actor has appeared on series such as NBC’s Blind spotby Netflix Jessica Jones and the Amazon series, Sneaky Pete with Bryan Cranston. His credentials as an actor were confirmed earlier this year when he was nominated for the 2022 Independent Spirit Awards for “Best Supporting Actor” for his work in wild indian.

He is now expanding his repertoire in Englishwhich is due out in November 2022. He is also working hard to lend his presence to the upcoming Disney + Marvel Series Echo, which is slated to premiere in the summer of 2023. With an impressive list of projects, Chaske Spencer is definitely one of Hollywood’s newest talents. In this exclusive interview with AugustManthe actor reveals more about his role in Englishhis upcoming projects and his passion for theater and photography.

Can you tell us more about your character in English?

I play Eli Whipp, a Pawnee Scout who’s been freed and on his way back to reclaim some of his old land. He then meets Emily Blunt’s character, Cornelia, and they both head for the horizon with both adventure and revenge in mind.

What attracted your interest in this project?

Hugo Blick’s writing immediately attracted me to this project. From the witty banter to the clever character development, the entire storyline is masterful.

You star alongside Emily Blunt in this new series; can you share what were your favorite scenes together?

Without giving anything away, I can say that I really enjoyed filming the compass scene with Emily, because it was an incredibly special moment for the characters. I really hope everyone has as much fun watching it as we had making this project.

English is a pure western. Are we witnessing a kind of revival of the genre?

Renewal ? Maybe. I feel like every ten years or so the genre comes back. When Westerns are done well, they form the basis of some of the best storylines on television and in film.

As an actor, how does it feel to represent your culture on screen?

I don’t think playing Eli Whipp was any different than any other role I’ve played when it comes to representing culture. However, again, the writing supports the tone so incredibly well, it was a huge bonus.

You’ve had many roles in franchises like The Twilight Saga and also serious thrillers like wild indian. What motivates you as an actor?

I enjoy a wide variety of experiences as an actor. Walking for a while in someone else’s shoes while playing a role is a fascinating experience. Through each role, I came away with a different perspective on life and that’s incredibly special to me. I like to come back to what I have learned each time.

Chaske Spencer English
Chaske Spencer and Emily Blunt direct The English for Amazon Prime/BBC

How did it feel to be nominated for the 2022 Independent Spirit Awards for ‘Best Supporting Actor’ for your role in wild indian?

It was an honor! I also had a wonderful time at the ceremony, I am grateful to everyone who helped support me on this journey.

You also appear in Echo. This isn’t the first time you’ve been involved with a Marvel project, what’s it like to be involved with another superhero series?

It feels good! I can’t wait for audiences to see Alaqua Cox as Echo. She will kill the role. I feel very lucky to be part of the project and had a great time recently seeing everyone together for this at D23.

Your roles have been quite varied. What roles or characters interest you personally?

I like characters that are furthest from who I really am. It’s harder and I gain so much more experience that way. I look forward to discovering more variety as my career progresses.

Beyond comedy, we understand that you also have a passion for photography. What interests you the most in this medium?

I love all forms of art. The expression of emotion and the reflection of thought when creating something is such a gift. When it comes to choosing photography as a medium, I guess I was too impatient to be a painter. I loved the instant gratification!

Can you share with us your other passions beyond comedy?

Acting really takes up most of my life. When I have time, I have the chance to do photography.

(Photos: Emily Assiran)

Vasiliy Lomachenko-Jamaine Ortiz weigh-in results in New York

October 28, 2022

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Normally stoic in his approach, Vasiliy Lomachenko flashed a bright smile after tipping the scales at 134.6. In what will be his first in-ring appearance since December 21, the Ukrainian was greeted with exuberant and joyful cheers. However, moments earlier, Jamaine Ortiz, his next nemesis and former sparring partner, stood stone-faced as the boos rained down on him.

Yet despite the teasing, the 26-year-old remained unmoved as he checked in at 134 pounds. After sharing the ring with Lomachenko in countless heated training sessions, Ortiz expressed confidence in his ability to hand the former two-time Olympic gold medalist the third loss of his career.

Outside of his familiarity with his star-studded opponent, Ortiz’s confidence stems from his last in-ring appearance.

In what amounted to a career-best performance, Ortiz jumped to the front of the contenders line after his close but clear unanimous decision victory over former champion Jamel Herring. Although his outstanding performance may have brought him to the brink of a world title opportunity, Lomachenko has plans of his own.

After working diligently in the title hunt following his loss to Teofimo Lopez in 2020, Lomachenko picked up back-to-back wins before giving his Ukraine native a helping hand in the ongoing Russian invasion. Now back in the boxing world, the 34-year-old could find himself in trouble for the undisputed lightweight crown against Devin Haney, should he claim victory on Saturday night.

Below are the weights for the full undercard, which airs live on ESPN+ starting at 6:15 p.m. ET.

Robeisy Ramirez (10-1, 6KOs), Gulfport, Fla. via Cienfuegos, Cuba, 125.6 lbs vs. Jose Matias Romero (26-2, 9KOs), Cordoba, Argentina, 127.4 lbs — 10 rounds, featherweight

Nico Ali Walsh (6-0, 5KOs), Las Vegas, 159 lbs vs. Billy Wagner (5-2, 1KO), Great Falls, Montana, 159 lbs—6 rounds, middleweight

Richard Torrez Jr. (3-0, 3KOs), Tulare, Calif., 229.4 lbs vs. Ahmed Hefny (13-2, 5KOs), Brooklyn via Alexandria, Egypt, 218 lbs—6 rounds, heavyweight

Duke Ragan (7-0, 1KOs), Cincinnati, 128 lbs vs Luis Lebron (18-4-1, 11KOs), San Juan, Puerto Rico, 128 lbs—8 rounds, featherweight

Troy Isley (7-0, 4KOs), Alexandria, Va., 159 lbs vs. Quincy LaVallais (14-3-1, 9KOs), Kenner, Louisiana, 157.4 lbs—8 rounds, middleweight

Abdullah Mason (4-0, 3KOs), Cleveland, 135.6 lbs vs. Angel Barrera (4-0, 0KOs), Chicago, 135 lbs—6 rounds, lightweight

Haven Brady Jr. (7-0, 4KOs), Albany, Georgia, 131 lbs vs. Eric Mondragon (7-0-1, 4KOs), Maywood. California, 130.6 lbs – 8 rounds, featherweight

Delante ‘Tiger’ Johnson (5-0, 4KOs), Cleveland, Ohio, 141.4 lbs vs Esteban Garcia (15-1, 7KOs), Brawley, Calif., 139.2 lbs – 6 rounds, middleweight

MRA Explores Opportunities Under New Definition of Workforce Housing State

October 25, 2022

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Martin Kidston

(Missoula Current) With a change in state law regarding workforce housing, the Missoula Redevelopment Agency plans to convene a task force with a number of stakeholders to determine how it may apply tax increment funding to certain projects.

The term workforce housing can mean different things to different groups, and cities across the state are wrestling with how to define it. But if MRA can accelerate a new program around these homes using the tax increase as a catapult, it could help spark a new development tool.

“In the last legislative session, a change was made to the definition of infrastructure in the urban renewal section of the law,” said Annie Gorski, deputy director of the MRA. “We’ve been working since the spring to figure out some things.”

Among the questions, Gorski said the MRA is exploring how other cities in the state that use urban renewal districts are approaching redefining workforce housing as a form of infrastructure.

At the same time, MRA met with the city’s housing office, lenders, developers and other stakeholders to understand what the needs are and how a new program could meet while complying with state law.

“If we were to develop policy and program options, specifically a new grant program where we could invest directly in workforce housing, what would be most beneficial? said Gorsky. “Which programs are simple to administer and flexible, knowing that the needs of a small project may be different from those of a large project, and projects for rent and for sale will need a tool that can be flexible to both types of projects.

MRA has a long history of investing in affordable, market-priced housing. Although this investment is not directly earmarked for housing development, it can be used to fund infrastructure needed for development.

More recently, this has included road and infrastructure works in the Scott Street neighborhood, where several housing projects are underway. This direct investment in infrastructure, including utilities, can help reduce costs for the developer, with the savings passed on to the end user.

But the change in state law could allow MRA to invest directly in housing if it is considered infrastructure.

“If it’s a new grant program, it would be a set of guidelines for that grant program if they’re different from the infrastructure program we have now,” Gorski said. “We have ideas and concepts.”

The state of Montana is also working on housing issues, but Missoula may be ahead of the game given MRA’s investment in housing-related infrastructure and the city’s permanent housing policy. The latter was created by former Mayor John Engen several years ago and features a range of goals that have found their way into city operations and budgeting.

“I think it will be something that will go to city council as policy, and we will execute it,” MRA Director Ellen Buchanan said of any future policy recommendations. “But we really need to check that internally. We have an overview of the revenue from tax increases that are available. This must be at the forefront of any new policy.

Pending approval from city management, the MRA plans to establish a task force to formulate all proposed recommendations. The group will likely consist of bond attorneys, stakeholders, developers, housing experts and a member of city council.

“There are a lot of layers here, and a lot of definitions floating around, depending on what entity you’re talking to,” Buchanan said of the new law. “We need the cooperation of the mayor and the president of the city council. We’ll take the idea to them and see if a working group is something they want to do, or if they’d rather we take it on as a board.

Electric vehicles and charging stations fuel cybersecurity concerns

October 21, 2022

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The increase popularity of electric vehicles prompted the Biden Administration to announce that the government would allocate $5 billion to fund the growing demand for electric vehicle charging stations across the country, but these stations can pose an invisible danger.

Check Point Software Technologies’ Pete Nicoletti recommends that manufacturers of all-electric vehicles address a myriad of cybersecurity risks, saying “hackers can affect a large number of electric vehicle chargers at once.”

Nicoletti argues that EV chargers aren’t “hardened” against physical attack and could easily be used in the same way hackers target ATMs to steal data. “Hackers all know that if you can touch it, you can hack it easily.”

GM and Lead Company to Build Coast-to-Coast EV Fast-Charging Network (GM/Fox News)

BMW ACCELERATES PRODUCTION OF ELECTRIC VEHICLES IN SOUTH CAROLINA WITH INVESTMENT OF $1.7B

Electric cars are vulnerable to data breaches and “man-in-the-middle” attacks, as discussed in UN Regulation No. 155. Hackers can steal personal information, open unauthorized files, and gain Internet or physical access to a car’s server.

In the event of a hack, all data held on the backend servers could be lost or compromised. Any easily leaked information about an electric vehicle can allow someone to eavesdrop on communications. Drivers can use data manipulation to falsify the driver’s identity when communicating with toll systems. It also allows someone to change their mileage and driving speed.

A hack of an electric vehicle charging station could cause network hostages to be blackmailed, for example stability issues by starting and stopping charging on many chargers synchronously.

EV charging station

An electric vehicle charging station lights up green in the parking lot of a Ralph’s supermarket. (Photo by FREDERIC J. BROWN/AFP via Getty Images/Getty Images)

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“In addition to knowing what makes an EV charger safe, it is important to understand common attack vectors that can make EV chargers vulnerable. unpatchable security breaches and application and ecosystem vulnerabilities,” said Mike Sheward, a security professional at IoT Particle. “EV chargers must be physically tamper-proof and equipped with the ability to detect energy theft.”

There are ways to mitigate these threats if you are driving an electric vehicle to avoid being the victim of a crime.

Location of the Tesla Supercharger

Electric vehicles (EVs) at a Tesla Supercharger location at a Hilton hotel in Bozeman, Montana, U.S., Wednesday, July 20, 2022. Across Montana’s 147,000 square miles, the state government recently counted 57 charging stations charging, mostly grouped together (Getty Images)

Nicoletti suggests drivers “report any suspicions, use a one-time password when setting up top-up accounts, use two-factor authentication upgrades whenever possible, update your cars and EV code as recommended by the manufacturer, monitor the manufacturer of your EV charging station and those you use in public, use a separate credit card for EV charging to easily monitor transactions and keep update your EV charger code.”

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Sales of electric cars (including all-electric and plug-in hybrids) doubled in 2021 to a new record high of 6.6 million, according to International Energy Agency. There are more electric cars sold each week than in all of 2012. This pattern of growth continues through 2022, alongside growing safety concerns regarding electric vehicles.

Groups urge World Bank to ‘dramatically increase’ climate investment and action

October 17, 2022

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WASHINGTON — Leading organizations presented a 5-point reform plan to World Bank Group leaders calling for a big increase in its financing for climate action. The plan includes increased funding for climate protection and adaptation, support and provision of climate capital to developing countries, shifting billions of dollars from fossil fuel projects to mitigation and adaptation, and the implementation of innovative strategies on a larger scale to deal with the climate crisis.

“As the climate crisis continues to leave traces of destruction on the planet, the World Bank is in a position to alleviate suffering and create opportunity, but only if it scales up its climate action,” said Jake Schmidt, Director main strategy for the international. Climate at the NRDC (Natural Resources Defense Council), which joined others on the 5-point plan. “The World Bank could free up tens of billions of dollars each year if it acted more assertively to fund climate change projects. The need for such financing is great – for clean energy, adaptation, mitigation – and the World Bank is sitting on capital that could make a real difference to people’s lives and livelihoods.

The groups sent their 5-point reform, “Refresh the World Bank Group for Climate Action” to shareholders and World Bank officials, among others.

“IMF and World Bank shareholders must seize the opportunity to dramatically increase the quantity (more dollars) and quality of lending (aligned with Paris, with no exceptions for fossil fuels). These institutions need new modern tools and approaches to help the poorest countries, trapped in debt, access finance after relentless shocks to their economies,” said Claire Healy, Director of E3G US: “There is a winner- a winner if we can increase financing for developing countries to build clean energy systems and adapt to warmer climates.Shareholders must act as shareholders and demand that their equity be better used.

Better climate finance from the WBG (World Bank Group) has an opportunity to help address several challenges the world is facing in efforts to tackle the climate crisis. These reforms could contribute to:

  • Increase global climate finance at a time when additional resources are desperately needed. Climate finance could increase by more than $13 billion per year in 2025 if the WBG’s climate goal is increased to 50% of its overall financing. This amount could be increased by additional tens of billions if the overall financing capacity is increased by the implementation of the reforms identified in the revision of the Capital Adequacy Framework (CAF).
  • Delivering more climate finance for poorer countries that struggle to access climate finance through other channels. Increasing global climate finance could significantly increase the amount of resources available to the world’s poorest countries and people, given the share of this finance that goes to International Development Association (IDA) countries. .
  • Increase funding for adaptation actions. Adaptation financing could increase by more than $5 billion per year if the WBG climate target is increased and by an even larger amount if overall financing capacity is increased;
  • Move the billions of funding that the WBG provides to support fossil fuel projects aimed at climate change mitigation and adaptation. Since the adoption of the Paris Agreement, the WBG has provided more than $14 billion for fossil fuel projects at a time when scarce resources must be directed to helping countries mobilize more renewable energy and energy efficiency, adapt to the impacts of climate change and stimulate other strategies to combat climate change while reducing poverty.
  • Create more opportunities to trigger large-scale, transformative and innovative strategies. Using its financial clout and the tools at its disposal, the WBG could play a leadership role in supporting countries’ energy transitions, large-scale adaptation strategies, market-transforming interventions across multiple jurisdictions, and innovative financing structures that help attract private finance. .

“The World Bank can — and should — be a climate champion, but it has a lot of work to do first,” said Kyle Ash, director of policy at the Bank Information Center. “Some actions it must take to meet its commitment to 100% alignment with Paris by July 1, 2023 include: removing all fossil fuel investments, involving stakeholders in project design , full disclosure of how it calculates climate co-benefits, and a GHG-neutral portfolio.

The five reforms of the “Refresh the World Bank Group for Climate Action” are as follows:

1. Do better on climate finance. At a time when fiscal space is tight on all fronts, the World Bank should increase the quality and quantity of its overall climate finance, while strategically leveraging scarce resources. It should:

  • increase the target share of its climate finance from 35% to 50% by 2025.
  • provide high quality climate finance that respects human rights.

2. Achieve Paris alignment: faster, credible, comprehensive, inclusive and transparent. It is also essential that all World Bank financing – not just that which counts as climate finance – is aligned with global ambitions to keep temperatures to 1.5°C and support efforts to address climate change. impacts of climate change. The World Bank should:

  • Exclude all fossil finance, not just coal and upstream oil and gas, by FY23, except in rare circumstances where credible alternative analysis transparently and robustly demonstrates that carbon reduction needs poverty cannot be met with a renewable energy, energy efficiency or energy storage option and does not create a fossil fuel lock-in. This should also apply to investments that support internal combustion engines.

3. Significantly increase the investment and the quality of its adaptation support. Improving the overall lending capacity and climate finance target would significantly increase the amount of resources for adaptation given that the World Bank is already a major financier of adaptation. The bank must:

  • provide adaptation finance on highly concessional terms, including revising concessional finance eligibility criteria to include a specific exception for climate vulnerability for adaptation projects;
  • mobilize investments for large-scale, locally-led adaptation strategies aligned with national strategies
  • provide more support in the form of technical assistance for adaptation;
  • integrating adaptation into other strategies and sectors.

4. Reform the incentive structure so that management and staff these short-term goals while laying the groundwork for the WBG to become a leader in climate finance for decades to come.

5. Increase the overall lending capacity of the World Bank. Through the implementation of one or a group of recommendations from the “G20 MDB Capital Adequacy Framework (CAF) Review”, the WBG could increase overall lending capacity by tens of billions dollars a year, which could be spent on pressing development needs, including climate change. The overall WBG climate lending capacity should:

  • Be increased by shareholders to release additional tens of billions of global financing capacity
  • Demonstrate leadership to convince other MDBs to implement CAF recommendations.

In addition to the NRDC, others supported the recommendations: E3G, Bank Information Center, AbibiNsroma Foundation, African Coalition on Green Growth, Brighter Green Center for Financial Accountability, India, Center for International Environmental Law (CIEL), Climate Action Network Canada , ECCO, the Italian Think Tank on Climate Change, Emmaus International, Federation of Community Forestry Users, Nepal (FECOFUN), Foreign Policy for America, Fundación Ambiente y Recursos Naturales (FARN) – Argentina, Germanwatch, Global Citizen, Jamaa Resource Initiatives, Pennsylvania Interfaith Power & Light, RMI (Rocky Mountain Institute), Southern Africa Climate Change Coalition, Union of Concerned Scientists and Zimbabwe Climate Change Coalition.

###

The NRDC (Natural Resources Defense Council) is an international non-profit environmental organization with over 3 million members and online activists. Since 1970, our lawyers, scientists and other environmental specialists have worked to protect the world’s natural resources, public health and the environment. The NRDC has offices in New York, Washington, DC, Los Angeles, San Francisco, Chicago, Bozeman, MT and Beijing. Visit us at www.nrdc.org and follow us on Twitter @NRDC.

Missoula County House District 94

October 13, 2022

Montana Lending

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Thomas France

[email protected]

Political party: Democrat

Date of birth and age: June 15, 1951, age, 71

House: 5900 Thornbird Lane, Missoula, Montana 59808

Occupation: Natural Resources Consultant, State Legislator

Family: My wife is Meg Haenn and we have three adult children, Luke, Sonja and Toni

Education: BA History, University of Montana, JD, Alexander Blewett School of Law, University of Montana

Past employment: Regional Executive Director, National Wildlife Federation

People also read…

Political experience: I’m running for my second term in the Montana Legislative Assembly

Amendments: Planned Parenthood Advocates of Montana, Montana Rural Voters, Montana Conservation Voters, Missoula Fire Fighters Local 271, Montana Federation of Public Employees, Montana Sportsmen’s Alliance, Montana AFL-CIO, SMART-Transportation Division (formerly United Transportation Union), Montanans for Choice

1) The Montana Legislature will likely decide what to do with a revenue surplus of over $1 billion. Tell us what you think should be done.

Montana Democrats have advanced a plan to spend the budget surplus that includes significant property tax relief, support for affordable housing programs and investments in child care and mental health services. Some Republican leaders have also acknowledged the need to address property tax relief, the Warm Spring Hospital crisis, and low salaries for state employees and teachers. I will work to advance a bipartisan plan that makes wise investments in the areas most in need and provides property tax relief for Montanese.

2) Should access to abortion remain a right in Montana? Would you allow abortion drugs to be mailed to addresses in Montana?

Under the Montana Constitution, women have the constitutionally protected right to make private medical decisions without interference from the state government, including the right to an abortion or other health decisions. procreation. I strongly support this right as the foundation of personal freedom and will oppose any legislation banning abortion or overthrowing our state constitution. Montana does not have, and should not have, the right to interfere with drugs approved by the Food and Drug Administration and shipped by US mail.

3) Public schools in Montana, especially schools in rural areas, are experiencing a shortage of teachers. What should the state’s response be? Is there a way to staff these public schools?

The shortages of educators in this state, in our cities, towns and rural areas, can be reversed — and it’s not just about low salaries. Our colleges and universities are producing enough educators to staff our schools, but beginning teachers are leaving Montana for better salaries, better support services, and better access to affordable housing and insurance. The Legislature must increase support for local school districts to increase teacher salaries, especially for beginning teachers, and strengthen affordable housing programs for teachers as well as other workers entering the workforce.

4) Montana’s public psychiatric hospital is over budget by $17 million and 45% of its positions are vacant. Four patients died in hospital between October 2021 and February 2022, after which a female patient was seriously injured following an assault by a male patient. The federal government will no longer pay for hospital services. How does the legislature stabilize this hospital and state mental health programs?

The short-term solution, as repeatedly proposed by Democratic lawmakers, is to use some of Montana’s current $1.6 billion surplus to stabilize the workforce by paying competitive wages. The Gianforte administration has not responded to or acted on this proposal, nor has it taken steps to obtain federal recertification and stands to lose millions of additional federal dollars. In the long term, some patients in public psychiatric hospitals would be better served by community placements and we must work towards this goal.

5) Name a problem of your choice and tell us what you are going to do about it.

Housing and property taxes are the biggest issues, and Democrats will seek to encourage affordable housing and provide property tax relief. I am increasingly concerned about attacks on wildlife management and public access. The Gianforte administration diverted hunting license revenue to the Department of Corrections, implemented an unnecessary and costly pheasant restocking program, transferred hunting licenses to private entities, and undermined Habitat Montana and other programs. of access and habitat. I will introduce legislation to end pheasant stocking and use this funding to expand and strengthen our public access and wildlife habitat programs.







Rebecca Mapton

Rebecca Mapton

[email protected] | 406.426.9474

Political party: Republican

Occupation: Mortgage

Family: Married with 4 children

Education: Degrees in business administration/accounting; Certified in Sports Broadcasting and Sports Media and Communication. Licensed loan officer in MT and WA.

Past employment: Mortgage 20+ years

Political experience: First time candidate

1) The Montana Legislature will likely decide what to do with a revenue surplus of over $1 billion. Tell us what you think should be done.

The Montana Legislature will decide what to do with the surplus, and I support working with my colleagues to do what is best for my state and my constituents. Montana faces many problems. The Legislative Assembly must tackle serious mental health issues, affordable housing and ever-rising taxes.

2) Should access to abortion remain a right in Montana? Would you allow abortion drugs to be mailed to addresses in Montana?

The Armstrong decision made abortion a privacy issue in Montana.

3) Public schools in Montana, especially schools in rural areas, are experiencing a shortage of teachers. What should the state’s response be? Is there a way to staff these public schools?

The Montana Legislature passed the TEACH Act in 2021 to help incentivize teacher salaries. We have to deal with the cost of housing and the shortage to keep good teachers in our state.

4) Montana’s public psychiatric hospital is over budget by $17 million and 45% of its positions are vacant. Four patients died in hospital between October 2021 and February 2022, after which a female patient was seriously injured following an assault by a male patient. The federal government will no longer pay for hospital services. How does the legislature stabilize this hospital and state mental health programs?

The status of mental health and mental health institutions will be one of the most important issues we will deal with during the next legislature. We need to build stronger accountability models. We also need to hire more competent and effective managers and mental health professionals.

5) Name a problem of your choice and tell us what you are going to do about it.

I have spoken to many constituents over the past few months in my district, House District 94. My constituents tell me that their main concern is increased property taxes and affordable housing. As a representative, I pledge to work diligently to address these concerns and find solutions.

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Pelican AI partners with Santander Consumer Bank Austria

October 11, 2022

Montana Lending

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By Leandra Monteiro

Today

  • Austria
  • Cross-border payments
  • Digital payments

Pelican AI announced that Santander Consumer Bank Austria extended its partnership with Pelican to use its PaaS (Payments as a Service) solution. The Pelican digital payments hub and integrated sanctions screening solutions will be used to process Target2, domestic SEPA payments and cross-border SWIFT payments on the Pelican cloud.

Pelican’s PaaS solution, based on the Pelican Digital Payments Hub, handles format-neutral and differentiated processing of all payment types and can co-exist and interoperate with legacy technology-based back-office applications, enabling Santander Consumer Bank Austria to retain and extend the life of its existing core systems without making a significant new investment. Importantly, it will also enable the bank to transition to the latest cloud-based payment services and adopt market and regulatory changes on schedule by leveraging payment automation capabilities, format translation , payment enrichment and statement matching powered by Pelican AI. Built-in AI and NLP-based sanctions screening capabilities will deliver intelligent payment screening in full compliance with European and global regulatory requirements.

Pelican AI gives its customers the ability to use a payment hub that is not only compliant, but can also easily adapt to market changes across the EU in an ever-changing payments landscape. Pelican’s SaaS-based solution, used by leading global banks around the world, can unify the bank’s current infrastructure, providing the necessary integration and delivering significant cost savings.

Parth Desai, CEO, Pelican AI said, “With the PaaS solution using Pelican’s Digital Payments Hub, we are enabling banks like Santander Consumer Bank Austria to be more profitable, grow their business and market share, with a faster return on investment for them and their customers. We are confident that our solution will help them continue to grow. We are thrilled to be a part of their continued success.

The Pelican digital payments hub integrates all payment infrastructures and transaction types, including Target2 for high-value payments, TIPS and EBA RT1 for SEPA instant payments, EBA STEP2 for SEPA transfers, SWIFT MT and MX for correspondent banking and open APIs for PSD2 and Open Banking. The solution is message and format independent and supports several out-of-the-box formats such as ISO 20022, SEPA, SWIFT – MT & MX, FED, CHIPS, regional RTGS, faster payment systems and many more . It delivers exceptional levels of efficiency, control and flexibility through a full payment lifecycle for all payment methods and clearing and settlement mechanisms, exception handling and statement matching, covering transformation, routing, repair and reporting services, including configurable dashboards.

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Latest banking news, October 7, 2022

October 7, 2022

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Michael Nagle/Photographer: Michael Nagle/Bloo

Usman Naeem announced on Wednesday that he is leaving his role as Group Managing Director of Goldman Sachs to join the institutional arm of Coinbase Global for its derivatives efforts. Naeem will serve as global head of derivatives sales and agency trading at Coinbase, led by Brett Tejpaul, according to a LinkedIn position by Naem. Based in London, he spent eight years at Goldman, most recently in equity derivatives. He also worked at Bank of America Merrill Lynch from 2009 to 2014, according to his LinkedIn profile. A Coinbase spokesperson confirmed the appointment with Bloomberg. Coinbase has been laying the groundwork to expand into derivatives for months. In January, Coinbase announced its acquisition of the FairX futures exchange, which is registered with US regulators. It is awaiting approval for its futures commission license to offer futures contracts directly to US users. In June, Coinbase extended the hiring freeze and dismissed 18% of the workforce as the market downturn worsened. People from major financial companies such as Goldman Sachs, Morgan Stanley and BlackRock, have been among them whose job offers have been canceled by Coinbase. The company has since renewed some hiring, including for its expansion abroad. — Yueqi Yang, Bloomberg News

People and Property: Real Estate and Construction News Around NH

October 5, 2022

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A groundbreaking ceremony was held Sept. 19 for Dakota Partners’ Friars Court at 6 Dakota Drive, Hudson, which the developer says is the city’s first and only family-friendly affordable housing community. Present at the ceremony are, left to right: Marc Daigle, Dakota Senior/CEO; Roberto Arista, director/president of Dakota; Nate Bondini, Senior Loan Officer, TD Bank; Hudson city planner Brian Groth; Jeremy Vieira, Director of Dakota Development; Kara Roy, President, Hudson Selectboard; Robert Dapice, CEO, NH Housing; Robert Charest of Boston Financial; Stacey Fuller, senior property manager of Maloney Properties; and Sean Donnelly, project manager for Dakota.

Providence, RI-based grocery distributor United Natural Foods Inc. opened a 125,000 square foot refrigerated distribution center in Londonderry. The company, the largest publicly traded wholesale distributor of natural and specialty foods in North America, now operates 57 distribution centers and warehouses nationwide. Londonderry’s location gives it three in New England, joining one in Chesterfield, NH, and another in Dayville, Conn. commercial retailers and food service providers. It is the main supplier of Whole Foods Market, with this channel’s traffic accounting for more than a third of UNFI’s revenue in 2018.

Construction of the northern branch, Concord, recently completed the Dartmouth Graduate Student Housing Project at 401 Mt. Support Rd. in Lebanon. The project comprises four four-storey apartment buildings with a total of 309 one-bedroom, two-bedroom, three-bedroom and four-bedroom apartments. The project, built on 53 acres of pristine land owned by Dartmouth, was developed by Michaels Student Living LLC of Camden, NJ, which owns and manages the community with a long-term ground lease from Dartmouth. JSA inc. of Portsmouth was the architectural design firm and Vanasse Hangen Brustlin of Bedford provided civil and landscape engineering services.

North Branch also recently completed construction of the SIG Sauer Experience Center in Epping, a two-story, 40,500 square foot facility that includes a 6,000 square foot retail showroom, indoor shooting ranges and a high-tech interactive museum-like educational experience. Design-build services were provided by North Branch and Cowan Goudreau Architectsalso from Concorde.

Metro Keller-Williams, Manchester, will hold their 16th annual KW Charity Auction from 5-9pm on Tuesday October 25 at the Derryfield Country Club in Manchester. The event will include live and silent auctions, raffles and door prizes, refreshments and music. Money raised will support several local charities including Big Brothers-Big Sisters of New Hampshire; Boys and Girls Club of Manchester; girls at work; Granite United Way; ROCA Kidz Club; SEE Science Center; and Waypoint New Hampshire. The 2022 KW Charity Auction is sponsored by KW Metro, Guild Mortgage, Blue Water Mortgage Corp., Monarch Title Services, Cohen Closing & Title, Kent Clean Septic, Radius Financial Group and Boufford Insurance Agency.

The Bedford Department of Public Works has received full accreditation from the American Public Works Association. Accreditation formally verifies and acknowledges that the agency is in full compliance with the recommended management practices set out in the APWA Public Works Management Practices Handbook.

Richard Palermo joined Bar Harbor Bank and Trust as Vice President and Mortgage Originator. He has over 15 years of experience in the financial services industry, 12 of which focused on residential lending. Most recently, he worked for Wells Fargo as a senior credit manager before moving into the role of residential mortgage consultant.

Ellen Grohgeneral manager of the Concord Coalition to End Homelessnesswas named the Greater Concord Chamber of Commerce 2022 Citizen of the Year. She will be recognized at the chamber’s 103rd annual meeting and Citizen of the Year award event on Wednesday, November 2 at the Grappone Conference Center in Concord. As leader, Ellen Groh significantly expanded the ability of the Concord Coalition to End Homelessness to provide essential, sometimes life-saving services to homeless people, officials said. It now serves between 250 and 300 people each month, providing everything from coffee to showers, housing, medical supplies, case management and other items and services.

U-Haul Moving and Storage completed the expansion of one of its Nashua locations, adding 600 self-service storage rooms, the company said. The self-storage rooms at 476 Amherst Street are equipped with individual alarms and air conditioning options. The 7.2-acre property now includes a two-story, 76,000-square-foot building with a retail showroom, a warehouse for U-Box portable storage containers and an access bay for the professional hitch installation, according to the company.

Cashiers in the West Bank mountains switch gears for a day of caring

October 2, 2022

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STORY AND PHOTO OF KAREN BOSSICK

“Eggs, eggs, eggs,” Julisa Vega mumbled as she scanned the paper order she held in her hand.

Normally, Vega would help a customer deposit a paycheck to Mountain West Bank.

But that day, she and her colleagues were busy filling cans of mangoes, milk, apples, pears, celery, potatoes, soup and corn on the cob for customers at The Hunger. Coalition.











Karla Wicks and Katie Curtiss fill a box with sausage and pasta.





Employees of the Hailey and Ketchum branches of Mountain West Bank volunteered at The Hunger Coalition in Bellevue last week as part of the bank’s 13th annual Day of Caring community service campaign.

Employees had planned to help by gleaning fruit from people’s private orchards, then organizing and distributing the gleaned fruit to Hunger Coalition customers. But the harvest has been slow to come this year, and forecast showers have prompted them to move on to filling food boxes in The Hunger Coalition’s warehouse.

“A lot is happening behind the scenes. I had no idea how fast things are moving and how much food is coming out,” said Sarah Gray, customer service manager for Mountain West Bank.

“It’s my first time here and it’s beautiful,” added Karla Wicks.








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Gustavo Romero is stocking up on onions.





The Hunger Coalition loves having groups like Mountain West lend a hand, said Jennifer Rangel, resource coordinator for the Hunger Coalition. Earlier in the day, a group from the community school had helped clean up the greenhouses, she added.

Mountain West employees smiled as they avoided collisions in their rush to fill the boxes.

“Beep, beep, beep,” one smiled, mimicking the emergency beeps of forklifts.

“It’s quite fun helping people,” said Gustavo Romero, “as he picked up some oranges for his box. “It’s hard at first because you don’t know where everything is, but it feels good to know you’re helping people.”








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Sarah Gray places some corn on the cob in a box.





Mountain West employees help out in a variety of ways over the course of a year, including helping the Kiwanis club and registering guests for Camp Rainbow Gold’s Share Your Heart Ball.

“Anything people need help with,” Gray said. “It’s part of our philosophy, our standard as a bank: to give back to the community. »

“It’s a great way to bond with your teammates outside of work. It brings you closer and you do something good,” Vega said.

Giving back to the community has long been a priority for Ketchum native Susan “Sooz” Alfs, who was recently promoted from her role as Ketchum branch manager to vice president of the bank.








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The pace can sometimes get frantic.





In addition to participating in the bank’s annual Day of Caring, she has volunteered at the Sun Valley Wellness Festival and helped raise funds for Wood River Valley Scholarships through the Sun Valley Brewfest. and the Labor Day Duck Race.

She is currently Secretary-Treasurer of the American Legion David Ketchum Post 115 Women’s Auxiliary.

Mountain West, founded in Coeur d’Alene in 1993, operates 22 branches, financial service centers and loan centers in Idaho and eastern Washington. It is a division of Glacier Bank, which operates 223 offices in 143 communities in Idaho, Montana, Utah, Washington, Wyoming, Colorado, Arizona and Nevada.




Unique Background – Soccer – Georgia Tech Yellow Jackets

September 29, 2022

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Inside the chart

Unique background: The upbringing that makes new special teams coordinator Jason Semore different from nearly every Division I football coach.

You have already read this story.

Kid grows up the son of a small town coach. Follows his father into the business. Climbs the coaching ranks, establishing his own success.

It does not Jason Semore all different from the scores of other coaches’ sons that populate the college football staff. After playing for his dad in high school and then writing in college, Semore has spent the past 17 years hopscoping from Division II to FCS to FBS, coast to coast, from smalltime coordinator school to Power-5 analyst and now, finally, linebacker coach at Georgia Tech. On Monday, he was promoted to special teams coordinator for the Yellow Jackets, a role he also held in 2015 at the University of Montana.

But Semore’s background makes him unlike any coach’s son at the Division I level. Maybe any Division I coach, period. And the answer innocently lies at the top of his biography.

Hometown: Ganado, Arizona.

It is information that is easy to ignore, or to skim over, or to remain indifferent. Every coach and player has it listed on their roster page.

Semore’s hometown is a bit of a misnomer. Ganado (population 905), in the northeast corner of Arizona, is technically not a city. It is a chapter of the Navajo Nation.

Semore spent his entire childhood on a reservation, in a place that is 93% Native American according to the 2020 census, immersed in a culture that few if any of his coaching peers have ever experienced.

“It was unique in that you’re in an environment where almost everyone is different from you,” he said.

Ganado is all Semore has known. His grandparents moved there in the early 1970s as part of a Bureau of Indian Affairs program that placed teachers in reserve schools in exchange for paying off their student debts. They lived and worked in Ganado for several years before returning to their native Oklahoma. Semore’s father, Russ, moved his family there after leaving the Air Force shortly after the birth of Jason and his twin brother, Chris, to become an assistant high school football coach.

“Booking is very different. They are very small towns scattered over a huge area. There are nearly a million Navajo, and all of them live on this huge, sprawling reservation, the largest reservation in the world,” Semore explained.

At an elevation of 6,385 feet, Ganado is in the rural and rugged Four Corners region of the United States. His Navajo name, Lók’aahnteel, translates to “Patch of Wide Reeds”. Cattle and sheep ranches stretch along Highway 191 west. Rabbitbrush, pinons, junipers and prickly pears freckle the red clay hills. Copper-colored mesas and escarpments loom in the distance, giving the area a sense of vast, ancient beauty. Hogans, the low ceremonial dwellings built with wood and packed mud, can still be found around Ganado, often standing next to the usual family houses.

“These are high desert plains. It’s really unique in that it’s not quite Utah sandstone, but it’s more vegetation than high desert,” Semore explained.

He knows the stereotypes of communities like his. Ganado is rustic, but it’s not dark or forgotten. It has its challenges, but it is not crippled by the problems that plague so many small reserve communities. Window Rock, the capital of the Navajo Nation, is 25 miles to the east and has banks, grocery stores, and fast food chains, and Ganado has a regional hospital and an airport. The Hubbell Trading Post is a National Historic Site that attracts visitors from across the Southwest. Ganado bills itself as one of the most agriculturally progressive places in the Navajo Nation, and the area is renowned for its Navajo rug making. When Semore and his family lived there, the high school had nearly 1,000 students from across the county.

Jason Semore helped lead Valdosta State to the 2021 NCAA Division II National Championship Game as defensive coordinator before returning to Tech as linebackers coach in 2022. This week he was promoted to special teams coordinator.

It’s a proud, active and tight-knit community, though Semore admits being away from the reservation has had an effect on him.

“There are no big cities. Every town has a gas station, maybe a McDonald’s or something. There was no McDonald’s in Ganado. There’s just not much to do in terms of social life or activities or having a job as a teenager,” Semore said.

The isolation had an advantage, however.

“For me it was an opportunity to really invest in athletics, because you really don’t have any other [social] choice,” he said.

Semore poured his energies into football, baseball, and the track at Ganado High, where his father served as head football coach. On offense, Jason played running back while his twin brother played quarterback; on defense, he earned first-team all-state honors at linebacker. Together they led the Ganado Hornets to four conference championships in the late 1990s.

Semore has fond memories of community support for their games, even though their nearest opponent was 45 minutes away by bus.

“On the reservation, everyone sort of knows that basketball is king. The basketball arenas rival the Power Five basketball arenas. But there was a great crowd. If you live on the reserve and nearest [big] town is Albuquerque, NM, three hours away, there’s not much of a social scene,” Semore said.

He and his brother enjoyed the notoriety that came with being local sports stars. But their recognition of Ganado stemmed from other reasons as well – the fact that he and his family were not native Navajo.

Still, he insists he never felt embarrassed about it. His family had lived in Ganado for most of the past 30 years. As part of his high school education, he had to take a course in Navajo studies where he learned traditional tribal skills like weaving papooses and slaughtering sheep. Navajo culture was everywhere, but Semore never felt out of place. He speaks fondly of the friendliness and strong family environment in Ganado.

“The community is really tight-knit,” he said. “It’s like stepping back in time when you go back. People really like you as a person and the relationships are close. It’s a cool place.

Semore explained that many Navajos share the same surname, even though they are not blood relatives. Their surnames refer more to their clan.

“It’s almost as if everyone around me might as well have asked me what my clan was. It was a really cool experience,” Semore said.

After graduating from high school in 2000, Semore continued his playing career at Division II Adams State in Alamosa, Colorado. When his trainers praised him for “living in the weight room,” he couldn’t help but laugh. He never thought twice about all the time he spent lifting weights at Ganado. What else was there to do?

“When I got to college and left the reserve, I really believed that I had a different view of what I was doing with my time,” Semore said.

By the time he graduated from Adams State, his father had taken a head coaching job at a high school two hours south of Ganado, near the New Mexico border. Semore served as defensive coordinator. The following year, he scored his first college gig, as a secondary Division II coach at the Colorado School of Mines.

Semore has remained in the collegiate ranks ever since, working meticulously through a variety of defensive roles. He returned to Adams State to serve as co-defensive coordinator in 2007, the first of four defensive coordinator positions he has held over the years. He met Tech defensive coordinator Andrew Thacker while a defensive assistant at Oklahoma State in 2012, which eventually connected him with the Georgia Tech staff.

Getting established in coaching is a question of performance, but it’s also a question of networking. Even with a coaching father, Semore knows his background — growing up on a reserve, Division II football — didn’t lend itself to the ready-made relationships of other aspiring college coaches. But he says his experiences at Ganado, growing up among the Navajo, taught him to feel at home in other cultures. And that, in turn, helped him thrive in coaching.

“Being able to build relationships came naturally to me, and it was important to me, and it got me to where I am today,” Semore said.

It’s an experience he wouldn’t trade either. This Saturday, when Georgia Tech takes on Pittsburgh (8 p.m. ET, Legends Sports’ Georgia Tech Sports Network), Ganado’s coach’s son will pursue the next chapter of his career, charting a course few college footballers have duplicated.

Crypto Lender Nexo Obtains US Banking Charter Through Acquisition Deal

September 27, 2022

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The crypto market has been battered this year, with nearly $2 trillion wiped from its value since its peak.

Jonathan Raa | Nurphoto | Getty Images

Cryptocurrency lender Nexo announced on Tuesday that it has taken a stake in a federally regulated U.S. bank, paving the way for the company to offer banking services to Americans as a licensed institution.

Nexo, based in Zug, Switzerland, said it had agreed to buy an undisclosed stake in Hulett Bancorp, which owns a bedyouthe best known bank called Summit National Bank. Through Summit National Bank, which holds a federal banking charter with the Office of the Comptroller of the Currency, Nexo plans to offer a range of products including checking accounts and crypto loans.

The move is an important development for the nascent crypto industry, which is seeking to curry favor with politicians and regulators as investment in and adoption of digital assets increases. The market licked its wounds following the collapse of the controversial terraUSD token, which sparked a wave of liquidations and bankruptcies of companies like Celsius and Three Arrows Capital.

Nexo declined to disclose the size of its stake in Summit National Bank. The company called the deal “an industry-changing transaction.” In addition to the ability to launch new products, Nexo said its banking license would provide users with stronger legal safeguards. The deal will also help Nexo expand its presence in the United States, the company said.

“We already have a strong offering when it comes to our crypto lending, but we always like to have more than one option to provide a particular service,” Nexo co-founder Antoni Trenchev told CNBC.

“Acquiring a stake in a fully-fledged bank enables us to offer our full range of services to US retail and institutional customers, including bank accounts, asset-backed lending, card programs, as well as as escrow and custody solutions, and many other future plans for Nexo’s expansion into the United States that will be unveiled in the coming months.”

Summit National Bank traces its origins to 1984 in Wyoming, where the company was originally licensed as Hulett National Bank. The company later opened branches in Idaho and Montana. According to its website, Summit National Bank’s major loans are for “trade, agriculture, real estate, mortgages and construction.”

The news comes just a day after Nexo faced lawsuits from eight US states alleging the company offered users paid accounts without first registering them as securities and providing necessary information. Nexo allegedly misled investors into thinking it was a licensed and registered platform, according to filings.

In response to the lawsuit, Nexo said it worked with US federal and state regulators. The company sought to differentiate itself from other players who have encountered financial difficulties, saying it “did not engage in unsecured loans, had no exposure to LUNA/UST, did not need ‘be bailed out or did not need to resort to withdrawal restrictions.

Nexo, which has over $4 billion in assets under management, is not the first crypto firm to obtain a banking license, although this is a rare occurrence in the industry. Other fintech companies have already obtained federal banking charters through mergers and acquisitions, including SoFi, which offers crypto trading on its platform, and LendingClub.

Senate committee seeks to improve rural housing stock as needs grow

September 24, 2022

Montana Lending

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Officials are considering how to improve rural housing programs across the United States as more people struggle with the rising cost of living. The U.S. Senate Committee on Banking, Housing, and Urban Affairs held a audience On Tuesday, ask stakeholders and credit professionals how USDA’s Rural Housing Service can better serve rural residents.

In the Mountain West region, more than one-fifth of homeowners with a mortgage spend at least 35% of their monthly income on housing, according to data released last week by the United States Census Bureau. Nearly 40% of tenants across the region spend more than a third of their income on rents, and vacancy rates are falling as supply chains, labor shortages and inflation make it difficult to build additional units.

The Rural Housing Service, or HRH, is one of the only government tools specifically aimed at rural populations. It offers loans, grants and loan guarantees not only for single and multi-family housing, but also for hospitals, fire stations and other critical community infrastructure. However, testimony at the Senate hearing showed that the program has been hampered by staffing shortages, underfunding and technological challenges.

“This disparity negatively impacts rural and Native Americans who rely on them as some of the best and only products designed for rural and Native needs,” said tribal housing expert Tonya Plummer. “We encourage creative solutions.”

Of the total mortgages issued nationwide last year, about 114,000 loans — less than 0.5% of total volume — were USDA-backed, according to David Battany of the Mortgage Lenders Association.

“These programs are worthy of our country’s commitment to them,” he said.

Legislation introduced earlier this week by Sens. Tina Smith, D-Minn., and Jeanne Shaheen, DN.H., aims to further that commitment by making the loan process easier for select rural residents seeking housing assistance.

Most speakers, however, said additional and systematic investments in the USDA are needed to really turn around the HRH. Using South Dakota as an example, Plummer, the tribal housing expert, said program staff in the state are operating at “25% of what they were five years ago.” For starters, she proposed several “nuanced” changes to how the federal government structures its loan, budget, and foreclosure programs during his testimony.

Bettany agreed and added that the current loan payment and application process for lenders and applicants is cumbersome and outdated. RHS response times to approve a loan can take up to 10 days, well beyond the industry standard.

“RHS loans can better serve consumers and industry players,” Bettany said.

“We can advance this goal by addressing three areas: better workflow, better technology, and if both of these areas are achieved, better lending products.”

This comprehensive look at rural housing comes at a time when needs are skyrocketing. In Wyoming, a rental assistance program broke demand records in August, and there was more requests for property tax relief last year than ever.

The Ministry of Housing and Urban Planning is also help to rise for rural homelessness nationwide.

This story was produced by the Mountain West News Bureau, a collaboration between Wyoming Public Media, Boise State Public Radio in Idaho, KUNR in Nevada, the O’Connor Center for the Rocky Mountain West in Montana, KUNC in the Colorado, KUNM in New Mexico, with support from affiliate stations throughout the region. Funding for the Mountain West News Bureau is provided in part by the public broadcasting company.

Copyright 2022 Wyoming Public Radio. To see more, visit Wyoming Public Radio.

Volunteer Day touches the surface of needed help in the community

September 23, 2022

Montana Lending

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NORTH PLATTE, Neb. (KNOP) — To give back to the places it calls home, First Interstate Bank, a community bank with more than 300 branches in 14 states, is hosting its fifth annual Volunteer Day on Wednesday, September 14. First Interstate sites closed that day at noon, giving its employees paid time to volunteer in nearly 400 separate service projects in its communities.

In North Platte, volunteers chose the Salvation Army as the nonprofit organization to help.

Half of First Interstate Bank employees helped out last Wednesday on the city’s North Side, participating in the Kettle Ball and Santa Cop campaigns. The other half worked together at the family’s Salvation Army store, working in the warehouse.

First Interstate Bank of North Platte Business Group Manager Troy Brandt said the Salvation Army people were very grateful for the help.

Salvation Army Major Lynneta Poff said the warehouse contained a huge pile of donations at least a meter high that needed to be sorted.

Lori Gutherless works at the Salvation Army family store. She said that without the help of First Interstate Bank employees, they would still be sifting through the large pile of donations. “They stayed here for four hours and helped us and it was like something we couldn’t do in a week with our staff and everything.”

“It was amazing to have their help and we appreciate it.”

“Today focuses and amplifies the efforts of our wonderful employees, who give generously to the places where they live and work,” said Kevin Riley, President and CEO of First Interstate BancSystem, Inc. “We are honored to celebrate the power of community with our neighbors today.

The overarching philanthropic goal of this year’s Volunteer Day is rooted in the fight against poverty, hunger and homelessness. However, employees have been empowered to select service projects that meet the specific needs of their communities. first highway Volunteer Day Microsite has a comprehensive list of these service projects organized by location, and includes project descriptions, event locations, and on-site points of contact.

Although First Interstate branches will be closed in the afternoon, the Customer Contact Center will be fully staffed and available to assist customers from 7:30 a.m. to 7:00 p.m. MT. Customers can also visit ATMs or use online banking or mobile banking app for their immediate banking needs. Regular branch and service hours will resume on Thursday, September 15.

An attitude of gratitude

Giving back on Volunteer Day isn’t just a unique goal for First Interstate; it’s a philanthropic philosophy that employees put into practice every day.

“Investing in our communities, whether through local sponsorships, donations, volunteer efforts or business development, is what makes us who we are – a full-service community bank offering a unique set of products and services, yes, but more importantly, a trusted community partner and neighbor,” Riley said.

Over the past three months, First Interstate has made that commitment a reality through its inaugural “Believe in Local” campaign, awarding 40 separate $25,000 gifts to deserving nonprofit organizations in its service area, totaling of $1 million. First Interstate’s annual Volunteer Day highlights and punctuates these efforts, amplifying the Bank’s impact to levels never seen before.

Making a difference where the bank calls home

In addition to Volunteer Day and Believe in Local, First Interstate supports other innovative philanthropy-focused programs, including Teach kids to save, neighbors to feed neighbors, give them coats and more, and be credit smart.

Additionally, through its Volunteer Matching Program, First Interstate pays nonprofit organizations $10 for every hour that First Interstate employees volunteer at their organizations (minimum 10 hours). First Interstate also matches employee donations to nonprofits and donates 2% of its pretax net income to charities. For more information on how First Interstate contributes to the health and happiness of the places it calls home, please take a look at our Community Dashboard.

About the first highway

First Interstate is a community bank based in Billings, Montana, providing the best banking and wealth management services in Arizona, Colorado, Idaho, Iowa, Kansas, Montana, Nebraska, Missouri, Minnesota, North Dakota, Oregon, South Dakota, Washington and Wyoming. With more than 300 offices, First Interstate improves the communities it serves through an innovative corporate philanthropy program, which includes donating a portion of company profits, matching personal financial contributions from employees and the donation of $10 per hour for volunteer efforts in eligible organizations. To learn more, please visit www.firstinterstate.com.

Copyright 2022 KNOP. All rights reserved.

SouthCoast retailers are hoping for the best this holiday season

September 16, 2022

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You may have noticed the “C” word creeping into more and more conversations as the summer of 2022 fades and the chill of fall fills the air. Christmas is approaching and local merchants are holding their collective breath after two years of the COVID pandemic and are now recording inflation.

Many retailers, including local family businesses, rely heavily on the holiday shopping season. For some, it can be the difference between living to fight another day and winding up.

SouthCoast retailers are hoping for the best this holiday season

Dan McCready/Townsquare Media

SouthCoast Chamber of Commerce President Rick Kidder said, “We look forward to a robust holiday shopping season, but need to keep a close eye on inflationary pressures and economic indicators. One thing we know is that ‘local shopping’ supports the local economy.”

There are, however, good reasons to be nervous. A CNBC headline proclaimed: “Holiday shopping season should be muted, as inflation squeezes buyers.”

CNBC reported that while consumers will likely spend more this year than last, the increase will likely be much smaller when adjusted for inflation.

SouthCoast retailers are hoping for the best this holiday season

Barry Richard/Townsquare Media

SouthCoast retailers are hoping for the best this holiday season

Barry Richard/Townsquare Media

Fortune reported that the forecasts of “accounting giant” Deloitte a slowdown in spending growth.

The National Retail Federation (NRF) said more and more people are start their holiday shopping earlier than ever and they are looking for bargains. The NRF said there was a good chance they would find them.

Kidder urged shoppers to consider their local retailer when shopping for holiday gifts.

“The pandemic, along with other price pressures, has made people more conditioned to shopping online, but local shopping means local jobs and local service commitments,” he said.

SouthCoast retailers are hoping for the best this holiday season

Barry Richard/Townsquare Media

Kidder said it was a particularly difficult time for local traders.

“Overall growth has been slow, and many businesses are facing labor shortages, the challenge of rising wages, and now inflation and supply issues,” he said. declared. “Prices are going up, wages are going up, but companies are under pressure to afford those increases, which is creating an inflation spiral.”

Dan McCready/Townsquare Media

Dan McCready/Townsquare Media

Ian Abreu, Business Development Manager and Chairman of the Southcoast Chamber of Commerce Council, echoed the drive to buy local.

“According to the Small Business Administration, of every $100 spent on a local small business, approximately $50 is returned to the local economy in the form of wages and salaries, tax revenue and local purchases of services,” said he declared. said.

“When you shop at a local family store, you’re helping someone who actually lives in our community, who provides top-notch service,” he said. “You’re helping a neighbor, a friend, a Little League baseball team sponsor – someone who’s invested in us.”

Beware of these 50 jobs that could disappear in the next 50 years

WATCH: States with the most new small businesses per capita

Homebuyer Education Course Enrollment Open

September 14, 2022

Montana Lending

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The Community Action Partnership of Northwest Montana (CAPNM) is once again presenting HUD-approved in-person classes for homebuyers at its Kalispell location on Main Street. The first class is scheduled for Saturday, October 8, from 8:30 a.m. to 6 p.m. The cost is $75 per household; however, scholarships are available by contacting Sara Briggs. All registration materials with payment must be received no later than September 28 at 5 p.m.

Registration packages are available by contacting [email protected], or by visiting the website at www.capnm.net and clicking on “Workshops” then “Homebuyer Education”. Click on the button to access the admission file.

All admissions packages must be completed and returned no later than 5 p.m. September 28 to CAPNM at 214 Main St. in Kalispell, by email to [email protected] (use PDF attachments) or by fax to 406 -565-4834, or by mail to Sara Briggs, CAPNM, PO Box 88, Kalispell, MT 59903. A check or cash must also be received by 5 p.m. to complete registration.

Once the admission package is received, an individual counseling session required by HUD must be scheduled. Normally, this session takes place before the course is held. The schedule for consultation sessions is flexible. Registrants can choose to have it over the phone or in person; it takes about an hour.

During the course, enrollees will meet and be able to interact with several area lenders and other professionals such as real estate agents, insurance agents, building inspectors, etc. Completion of this course and individual counseling session is one of the key elements to qualifying for various loan products and down payment assistance programs.

RIL, Tata Steel, ONGC, Bank of Baroda in brief

September 12, 2022

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Reliance Industries RIL): RIL said its wholly owned subsidiary Reliance Petroleum Retail has signed the definitive documents to acquire the polyester businesses of Shubhalakshmi Polyesters (SPL) and Shubhlaxmi Polytex (SPTex). Reliance Petroleum Retail (trading as “Reliance Polyester”) will acquire the polyester businesses of SPL and SPTex for cash consideration of Rs 1,522 crore and Rs 70 crore, respectively, totaling Rs 1,592 crore by way of down sale on an ongoing operating basis.

Tata Steel: The steel major’s board is due to meet on September 14, 2022 to consider the issuance of unsecured non-convertible debentures on a private placement basis.

Oil and Natural Gas Corporation (ONGC): ONGC has signed 6 contracts for Small Open Fields (DSF) under the Offshore Tender under DSF-III, with 3 each for the Arabian Sea fields and the Bay of Bengal. These include 4 contract areas as sole bidder and 2 contract areas in partnership with Indian Oil Corporation Limited (IOCL). The company has also signed 2 contracts for fields under CBM specials around 2021 blocks in Jharkhand and Madhya Pradesh.

Bank of Baroda: The public sector lender on Friday announced an increase in the lending rate based on the marginal cost of funds (MCLR) by 5 to 15 basis points, effective Monday, September 12, 2022.

Container Corporation of India: Container Corporation of India said the ICRA has reaffirmed the credit rating of the company’s debt securities. The ratings, however, continue to be monitored with developing implications, the agency said.

Indian Overseas Bank: PSU Bank announced on Friday an increase in the lending rate based on the marginal cost of funds (MCLR) by 10 basis points, effective Saturday, September 10, 2022.

Spicejet: Spicejet on Friday announced the appointment of Ashish Kumar as Chief Financial Officer (CFO) effective September 9, 2022.

Trident: Trident announced its production point for August 2022 on Saturday, September 10, 2022. In the linens division, production of bath linens fell 37.17% to 3,091 metric tons (MT) in August 2022 vs. 4,920 MT posted in August 2021. Bed linen production fell by 37.74% to 1.93 million meters (MM) in August 2022 from 3.1 MM recorded in August 2021. Yarn production fell by 41.72% to 6,471 MT in August 2022, compared to 11,103 MT reported in the same period a year ago.

Venus Pipes & Tubes: Venus Pipes & Tubes has declared that it has been recognized as an ALL INDIA FIRST (AIF) Manufacturer to receive Bureau of Indian Standards (BIS) Approval for Seamless and Welded Stainless Steel Pipes and Tubes .

Spandana Sphoorty Financial: Spandana Sphoorty Financial said its board approved the allotment of 600 non-convertible debentures on a private placement basis for an aggregate consideration of Rs 60 crore.

HG Infra: EPC Company announced on Friday that its wholly owned subsidiary, HG Ateli Narnaul Highway, has received the Certificate of Completion for a construction project in Haryana.

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Cancellation of student loans will have an outsized impact in the Mountain West

September 9, 2022

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A substantial percentage of people in the Mountain West area with student loans will see up to $20,000 in student loan debt forgiven after a recent announcement of the Biden administration.

Nearly 38% of Wyoming borrowers will be student loan free as a result of this forgiveness initiative, according to a recent analysis by Student Loan Hero, a student loan servicing company owned by Lending Tree.

This is the highest share in the country, and Nevada and Utah are not far behind.

President Joe Biden said last month he hoped to make it easier for the middle and working classes to build careers without a huge financial burden.

“The cost of education beyond high school has increased dramatically. The total cost to attend a four-year public university has tripled, almost tripled, in 40 years,” he said.

Most borrowers will get $10,000 forgiven, while Pell Grant recipients, which are given to low-income students, will get $20,000. Only people earning less than $125,000 a year, or $250,000 for married couples, are eligible.

Analysis shows that most Mountain West states have fewer people taking loans on average, and those students tend to choose less expensive schools. Therefore, canceling $10,000 of debt has a bigger impact and allows more people to go debt-free.

“That said, even in these states at the top of the list, the average debt is still high,” says Student Loan Hero. “For example, our Utah student loan analysis shows average balances between federal and private borrowers of $31,046. Our Nevada student loan data shows average balances of $32,402.”

Several Republican officials in the region were critical of Biden’s announcement, saying it’s a federal document that doesn’t address the high costs of education.

This story was produced by the Mountain West News Bureau, a collaboration between Wyoming Public Media, Nevada Public Radio, Boise State Public Radio in Idaho, KUNR in Nevada, the O’Connor Center for the Rocky Mountain West in Montana , KUNC in Colorado, KUNM in New Mexico, with support from affiliate stations throughout the region. Funding for the Mountain West News Bureau is provided in part by the public broadcasting company.

Copyright 2022 Wyoming Public Radio. To see more, visit Wyoming Public Radio.

New Bedford City Council to vote on wage reclassification

September 8, 2022

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The New Bedford City Council will vote tonight on an agenda item that will allow the salary reclassification of city employees – which Mayor Jon Mitchell said will help New Bedford attract the best candidates and fill some positions that have been vacant for a long time.

“The reclassification is essentially a reshuffling of the pay scale for city government management employees, that is, non-union employees,” Mitchell said during his weekly appearance on WBSM.

“We constantly negotiate the contracts that the union enters into with the various collective bargaining units in the city. Usually we sign every negotiation up to a three-year contract which invariably includes salary increases every year,” he said. “In these salary increases, we can somehow maintain a fair and competitive salary scale.

However, this reclassification will allow the City of New Bedford to offer more money to management employees who are not part of unions.

“For management employees, we don’t do this periodically,” Mitchell said. “What we try to do from time to time is try to update their salary to make sure we can bring quality candidates into the city because that’s what the city deserves. It deserves high quality, sharp, knowledgeable and highly competent people who do the very important work of providing municipal services and managing people in municipal government.

Mitchell said the city was “struggling to fill positions” such as chief financial officer and city auditor.

“We’ve had a few retirements lately, some people have gone elsewhere. There are a lot of reasons why there was turnover,” he said. “But we have to replace those people and what we find is that we swing and miss too often because our salaries just aren’t competitive. So we have to keep up, and this reclassification effort is our attempt to ensure that New Bedford recruits high-quality people to fill the really important positions in city government.

Mitchell said when it comes to hiring those positions, the city “gets no bites.” An executive recruiter – or “headhunter” – named Bernie Lynch was hired by the City to find candidates for the positions of chief financial officer and auditor, because of his expertise in potential candidates for such positions.

“He spent over six months beating the pot, trying to find candidates, and it was left empty,” Mitchell said.

He said they had found a highly qualified candidate in a nearby town.

“But he wanted to start at something higher,” Mitchell said. “In order not to take a pay cut from his current position, he had to start at something higher than the entry-level salary at New Bedford, and long story short, the city council was unwilling to take him on. do, and so we lost it.

Mitchell said the goal for now is simply to get wages reclassified so the city can offer a higher salary to potential hires, after comparing salaries currently offered with other cities in New Brunswick. England.

“I think in the long run, and in the vast majority of cities we looked at, the mayor has the power to launch a candidate higher than first, because you need some flexibility when someone wants to be here, but to avoid a pay cut, sometimes you have to start something higher than the low,” he said.

He said the board will address this flexibility at a later date.

“For now, we are simply resetting all salaries in a way that is both competitive but also fair to the whole of municipal government, so that people feel that the city is working to ensure that everyone is supported and that we’re getting the highest quality candidates possible, and retaining them as well,” Mitchell said.

If the board approves the reclassification, Mitchell said the salary increase would take effect “immediately.”

Beware of these 50 jobs that could disappear in the next 50 years

WATCH: States with the most new small businesses per capita

States with the most and the least student debt | Smart Change: Personal Finances

September 3, 2022

Montana Lending

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In the late 1980s, a high school graduate who wanted to attend college or university was looking at average tuition costs of $15,160 per year for a private, nonprofit school and $3,190 per year for a public college or university. By 2021, that number had jumped to $37,600 for private non-profit colleges and $9,400 for public schools. Once the cost of books, room and board, and other fees are added in, paying for college with a part-time or summer job becomes more and more a thing of the past.

Today’s students are turning to loans instead, leading to a widespread debt crisis. Americans currently owe $1.58 trillion in student loans, which is changing the shape and trajectory of the US economy. Instead of buying cars or homes, many millennials focus on finding jobs that will allow them to repay their loans without defaulting.

Some states are taking steps to help by adopting a Charter of rights of the student borrower and offer a variety of scholarship and loan repayment programs to qualified graduates. In New York in 2017, for example, New York announced a scholarship program that would provide free tuition at public colleges residents whose families earn less than $125,000 per year.

Stacker reviewed 2022 data from the New York Federal Reserve to determine where student debt is hitting the nation the hardest. In case of a tie, we looked at the number of borrowers in all tied states.

Read on to see where your state falls on the list.

You might also like: Highest Paying Management Jobs

Coinbase investigates network payment delays

September 2, 2022

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Ethereum-based asset management protocol Babylon Finance will shut down completely in November after it failed to recover from the $80 million exploit on Rari Capital in April, Coindesk wrote.

Rari has made it so users can contribute and borrow any asset from its Fuse pools to earn returns, allowing users to create their own pools with Ethereum-based assets.

Babylon stored around $30 million in many cryptocurrencies at its peak, among the major lending pools on Rari.

In other news, Crypto.com has backed out of a five-year sponsorship deal worth $495 million with the UEFA Champions League, which is Europe’s elite soccer league, Coindesk wrote.

The deal had apparently been agreed in principle and would have seen Crypto.com take over as sponsor from Russian state-owned energy company Gazprom. UEFA canceled Gazprom’s contract in March after Russia invaded Ukraine.

Additionally, a date will soon be set for the distribution of funds from former crypto exchange Mt. Gox, Coindesk wrote, which will see creditors reimbursed for a 2014 hack that lost 850,000 bitcoins.

A court document says the date will be determined “in due course.” Creditors were given a September 15 deadline to make or transfer a claim.

Creditors will receive a base payment initially and can choose to receive the rest as an early lump sum payment or as a later payment after the end of the legal proceedings.

Additionally, former CFTC Commissioner Jill Sommers now sits on the board of FTX US Derivatives, according to a press release.

FTX US Derivatives is regulated by the CFTC. FTX US Derivatives was established in 2017 as LedgerX and made crypto-related options and swap contracts available to investors 24/7. Sommers hailed the company as being “at the forefront of bridging the gap between traditional and digital assets while staying true to its founding principles of transparency and leading the charge to become the most trusted digital asset exchange.” regulated in the world”.

Finally, Coinbase is reportedly addressing an issue where multiple networks have had issues with deposits and withdrawals, the exchange said at 12:52 a.m. ET, Seeking Alpha wrote.

But the notice was removed at 1:20 p.m. ET. The company said it fixed an issue that caused processing delays.

For all the PYMNTS crypto coverage, subscribe to the Daily Crypto Newsletter.

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China and the Democratic Republic of the Congo: a gradually deepening bilateral partnership

August 27, 2022

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Located in sub-Saharan Africa, the Democratic Republic of the Congo is one of the richest countries in natural resources and holds huge untapped deposits of minerals, including cobalt, copper, diamonds and gold, representing approximately $24 trillion. It has vast reserves of tropical forests and has one of the highest hydroelectric capacities in Africa and the world.

Since its independence from Belgian colonial rule in 1960, the DRC has faced complex challenges in state building due to a history of political instability and civil war. Until 1997, it remained under the kleptocratic and dictatorial regime of Mobutu Sese Seko backed by the West amid Cold War bipolarity.

With the advent of the 21st century, moving away from earlier trends of state-centric economic planning and private business ownership and the appropriation of revenues by a corrupt political apparatus, the DRC has turned towards a market-oriented economic system undertaking structural reforms for macroeconomic recovery with the involvement of the Bretton Woods institutions. While economic improvements were observed in 2001-2014, the DRC’s economic situation was sharp deterioration since 2016-2017. Ranked first in the world for poverty and human rights violations, the DRC continues to be one of the least developed countries in the world, as indicated by its position of 175 out of 189 countries in the world. Human Development Index 2020. There is a clear causal relationship between the humanitarian crisis and the current social unrest in the DRC and the exploitation it has suffered during decades of colonial hegemony.

The DRC’s strategic importance to Central Africa and global politics emanates from its potential as an economic powerhouse and its resource wealth amid expansion of global capitalism and demand for resources which has led to growing interest from multinational corporations and neo-imperialist forces such as China. The DRC’s main source of export revenue, its mining sector, has always been controlled by foreign companies. Since 2006, China’s participation in the DRC’s mining industry has been on the rise. The needs of China’s rapidly growing economy have further diverted its attention to the Democratic Republic of Congo, renowned for its prime supply of mineral resources.

Nature and history of China-DRC relations

While Sino-Congolese (DR) associations were established in the 1960s, formal relations have remained intact since 1972. The bilateral relationship exhibits a dualistic nature; on the one hand that of a strategic alliance favoring the objective of China to maintain a considerable presence in Africa and on the other hand, a deepening of the commercial partnership allowing to increase the private investments of China in the DRC. This latter trend can be understood in the context of China’Zou-chuqu (exit) policy; a component of China’s broader economic reform and modernization strategy instituted under Deng Xiaoping aimed at encouraging excess national capital to be invested abroad in order to “deepen access to foreign markets, natural resources and advanced technologies, leading to further growth and stabilization”. China’s strategy vis-à-vis the DRC is shaped by a “resource for infrastructure” approach; where investments in infrastructure projects in resource-rich countries are undertaken in exchange for the exploitation of resources.

China’s investment, aid and development strategy in the DRC has been seen as a profitable opportunity by the Congolese government addressing the urgent need for infrastructure development for socio-economic improvement. Moreover, unlike the approach of Western powers and international financial institutions, China’s development partnership is based on a policy of mutual economic benefits without any interference in countries’ internal affairs or political conditionalities. It does not impose requirements of democracy, adequate human rights conditions, transparent and uncorrupted governance, etc. ; factors that have reached disastrous proportions in the Democratic Republic of Congo. Ipso facto, this acted as a catalyst strengthening Sino-DRC relations.

China-DRC relations are essentially marked by an element of inequality due to China’s status as a globally dominant power juxtaposed with the DRC’s status as a markedly weaker and less developed power. However, strong economic relations are expected to continue due to their mutual interdependence and what China has called win-win arrangement. “For China, the DRC is a secure source of strategic natural resources, a market for its manufactured goods and a space to invest in infrastructure development. For the DRC, China is a source of financing and know-how for its infrastructure, and a source of manufactured products.

An important landmark delimiting economic relations between China and the DRC has been the Sino Congolese Mining (Sicomines pact) in 2008. Through this agreement, the Chinese partners (with a 68% stake) obtained cobalt and copper mining rights in exchange for China’s agreement to carry out infrastructure projects . The “mutually beneficial” deal was envisioned to boost exports, economic growth, incomes and job opportunities in Congo (DR) while building China’s critical mineral resource capacities through mining rights. According to the 2008 OKChina would be the beneficiary of “10 million tonnes (mt) of copper and 600,000 mt of cobalt with an estimated value of US$50 billion over a 25 year period”. It should be noted that the Sicomine agreement paved the way for Chinese investment to enter and capital to flow into the political economy of the DRC. Despite much criticism, over the years cobalt production and the DRC’s macroeconomic performance more broadly have increased, lending weight to the notion of China as a valuable strategic partner for low-income countries. However, the DRC’s increased economic dependence on China carries a plausible threat of an asymmetric relationship serving narrow interests given the high rates of corruption in the DRC. To illustrate further, while the DRC accounted for 70% of the world’s cobalt production capacity as of 2020Chinese investors have taken control of 70% of the DRC’s mining sector through RFI offers (resources for infrastructure) expressive of China’s growing monopoly on the cobalt market.

The DRC and the Belt and Road Initiative

As explained above, the DRC is an integral part of Chinese foreign policy, which is best exemplified by China’s One Belt One Road initiative. It involves a Chinese-led development approach based on investment and infrastructure construction projects from Asia to Europe. Although there have been substantial debates on whether the BRI is merely an economic enterprise or a strategic and coercive tool used by China to expand its political and geo-economic influence, the increase in partnerships with the BRI has accelerated its pace.

In January 2021, Kinshasa served as the venue for inter-state negotiations between the Minister of Foreign Affairs of the PRC and the Minister of State and Foreign Affairs of the DRC which resulted in a Memorandum of Understanding on the BRI. Making the DRC the BRI’s 45th cooperation partner is one of the most recent developments defining Sino-Congolese relations. It also speaks to a steady and deepening bilateral engagement on economic and other fronts between the two countries as we move forward. The DRC’s welcome into the BRI was precipitated by China’s desire to forego DRC’s “interest-free” loans of $28 million in 2020 and China’s decision to pledge US$17 million for development and aid projects. It should also be pointed out that, unlike Africa’s total debt to China of $140 billion, only 5% are interest-free loans. Essentially, by canceling a tiny amount of debt, China seduced the DRC into its BRI by ensuring that Chinese investors in the Congolese (DR) mining industry were incentivized to increase their stakes in the cobalt and copper industry; lucrative raw materials that boost China’s rapidly growing manufacturing and energy capabilities. The latest turn of events secures China’s position as a frontrunner in the immediate future amid the rush for resources and expanding markets.

According to Chinese rhetoric, China is a development and trade partner that contributes to the economic progress of the DRC. However, a critical look at China’s approach in the DRC would highlight its neo-imperialist character. China’s strategy towards nations with relatively weaker negotiating potential has often been associated with the phenomenon of “debt trap diplomacy”; this term is used to describe its predatory lending practices to countries, which makes them vulnerable to Beijing’s demands, which will further China’s long-term geostrategic interests. This has sparked alarming concern in strategic communities in light of the fact that the Democratic Republic of Congo, among other countries in sub-Saharan Africa, accounts for a significant share of China’s lending to the continent according to World Bank International Debt Statistics.

Western concerns are currently centered on Chinese investments in Africa as a possible trigger for another debt crisis in addition to the threat of Beijing’s growing geopolitical influence. Conversely, the ‘debt trap narrative’ positioning China with ‘usurer’ ambitions in Africa has been met with skepticism, as Chinese investment in strategic infrastructure projects is a much-needed option for African countries struggling with booming population growth, slow economic development, lack of job creation and an underdeveloped manufacturing sector. Nevertheless, it must be underline that the the emphasis on Chinese investment in African countries has been marked by a generalization trend perceive the entire continent as a single entity ignoring the diverse socio-economic nature of African countries.

Accordingly, it is critical to conclude on the note that regardless of differing views on China’s engagements with the DRC, the outcomes of Sino-Congolese relations should ultimately be assessed on the basis of holistic socio-economic improvements and improvements stimulated in the Democratic Republic of Congo. In this regard, Chinese development projects in the DRC have not yet come to fruition.

[Image credit: Discott, CC BY-SA 3.0, via Wikimedia Commons]

The views and opinions expressed in this article are those of the author.

Multifamily construction surged in the Ninth District during the pandemic

August 26, 2022

Montana Lending

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If you drive around Sioux Falls, South Dakota, it’s hard to miss the apartment complexes sprouting up all over town.

Butch Warrington, building manager for Sioux Falls, said the city had “an incredible, just incredible number” of multi-family units licensed through July of this year.

Although this year has been exceptional, multi-family construction has been flourishing in the city for several years.

Sioux Falls isn’t the only area experiencing this multi-family bonanza. After nearly a decade of slow growth, most states in the Ninth District have seen residential construction surge, especially during the pandemic.

The total number of licensed housing units in the Ninth District is up 35% from 2019 levels, according to Census Bureau data. Although single-family construction has been healthy, the recent construction surge has been driven primarily by multi-family construction, which is a relatively new trend for the region.

Historically, new single-family homes have significantly exceeded the number of new multi-family units in the Ninth Ward. While there has still been more single-family than multi-family construction during the pandemic, a jump in multi-family growth over the past two years has closed most of that gap in the region.

Multifamily permits now account for almost half of the total housing permits issued in the district (Figure 1). This is the highest share of multi-family permits issued according to data available since 1980.

Loading Table 1…

The multifamily makes significant gains

Following the housing market crash in the mid-2000s, residential construction plummeted in the Ninth Ward and much of the country. In the years that followed, the total number of units permitted grew at a breakneck pace, with modest increases in single-family dwellings while multi-family construction remained largely stagnant.

Minnesota and Wisconsin were the early leaders of the region’s wave of multi-family permits. In Minnesota, the pace of new multifamily construction began to accelerate in 2014, then picked up another speed from 2018 (Figure 2). By 2021, annual multi-family units had grown nearly 2½ times their level of just eight years earlier.

The Twin Cities drove much of the increase, with multi-family permits consistently outpacing single-family permits in the metro area after 2017.

“We have this huge demographic of millennials who are often over-indebted and delaying household formation, [and this is] increasing the demand for rentals,” according to Cecil Smith, president and CEO of the Minnesota Multi Housing Association. “Since Minnesota has a large metropolitan area with good prospects for job growth, the institutional capital [for multifamily construction] started coming here.

Much of the initial activity was in the central cities of Minneapolis and St. Paul – and continues today. Minneapolis has authorized nearly 2,600 units through July, according to Housing First Minnesota.

But there’s also activity happening in the suburbs now, Smith said. “The suburban markets had all of that [multifamily housing] from the 80s and 90s that needed a refresh and new equipment. That’s where the focus is now: a highly appointed luxury product in the suburbs. »

In more rural states like Montana and South Dakota, multifamily growth was supercharged in 2020 after being largely stagnant in the previous decade.

Sioux Falls and Rapid City, South Dakota’s largest cities, have seen multifamily construction records over the past two years. In 2021, Sioux Falls reported a 183% increase in the number of multi-family units over 2019 levels. This trend does not appear to be slowing, as the number of multi-family units permitted through July 2022 has already exceeded the number total units in 2021.

Warrington, the city’s chief building official, hopes the recent surge will increase the city’s low vacancy rate of 3.7%.

“We have issued 2,512 multi-family units this year so far, so I think we would start to get to the point where we will see the vacancy rate go up a bit next year when they become lettable. It will be interesting what we see in a year.

Multifamily construction in Montana has also been strong lately, with new units more than doubling from 2019 to 2021. Single-family construction has been healthy but more stable in recent years. As a result, nearly 56% of all housing units licensed in Montana last year were multifamily, a level not seen since the report began (Figure 3).

Much of this recent growth in Montana and South Dakota has coincided with substantial increases in net migration to the states, where residential construction is surging to meet new demand.

Cheryl Cohen, administrator of the Montana Housing Division at the Montana Department of Commerce, explained how population growth has been a major factor in the recent growth of multifamily construction in the state.

“We had a net migration of just over 22,000 people from April 2020 to July 2021, which is quite significant,” Cohen said. “Builders responded to population growth and associated market demand, and investors saw the potential for good investment returns by looking at the historically high rents here as well as the low interest rates at the time.”

While much of the growth is happening in Montana’s biggest cities, Cohen noted there’s been more interest in building in smaller towns outside of cities.

“We are seeing an increase in construction in many communities like Belgrade, outside of Bozeman, or even in smaller towns like Townsend which are a stone’s throw from Helena,” Cohen added. “Since the immediate downtown area may be more expensive and less affordable, we are seeing this growth happening in adjacent transitional communities.”

Loading Table 3…

Despite the rise, demand still exceeds supply

While the recent surge in residential construction is impressive, it is still not enough to meet the high levels of demand in the area. Many parts of the Ninth District continue to feel the strains of nearly a decade of slowing housing production as home prices and rent levels continue to rise, especially in areas experiencing population growth like western Montana.

Home prices in Montana are currently up 48% from 2019 levels according to the Federal Housing Finance Agency Housing price index, which is the largest increase ever since reports began. Rents are also rising, putting pressure on residents of the state.

“We experienced a 37% rent increase in Lewis and Clark County from the first quarter of 2020 through the second quarter of 2022,” said Cohen of Montana Housing. “There were only four other counties in the entire country with a higher rent increase than that.”

Rent increases exacerbate housing affordability in Montana, according to Cohen, who noted that a quarter of renters in Montana have extremely low incomes.

Minnesota has a similar problem, despite resuming residential construction earlier than other states in the region. According to the Minnesota Housing Finance Agency, the state still lacked about 54,000 homes between late 2018 and early 2020.

“We need to build two to three hundred units at a time, not two or three infill units. It won’t be enough,” said Smith of the Minnesota Multi Housing Association. “We need large-scale housing built here.”

Construction remains solid despite increased challenges

Through June 2022, the total number of units permitted in the district continues to be high, and multi-family units permitted so far exceed single-family permits according to preliminary data from the Census Bureau.

However, ongoing challenges such as labor shortages in the construction industry, supply chain issues that drive up input prices, and recent increases in interest rates could have an impact. chilling effect on residential construction in the ninth arrondissement for the rest of the year.

The Twin Cities are already experiencing a slight slowdown in single-family construction as home prices and mortgage rates rise, dampening demand. However, a July report from Housing First Minnesota shows that multifamily construction is still progressing in the metro, seemingly undeterred yet.

Things aren’t slowing down in Sioux Falls for multifamily construction, either, according to Warrington, who recently met with an architect for a new 150-unit apartment building.

“Things are still pretty busy and active here,” Warrington said. “I thought I might start to see things slow down, especially with rising interest rates, but I haven’t seen it at all yet.”

Abaca and Pacific Valley Bank Partner to Expand Cannabis Banking Options in California

August 25, 2022

Montana Lending

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Abaca accounts now available for lawyers California cannabis operators

SALINAS, Calif., August 25, 2022 /PRNewswire/ — Abaca, an industry-recognized financial platform for cannabis operators, and Pacific Valley Bank (OTC Pink: PVBK), are partnering to expand access to cannabis banking services in the California market.

For the first time since the state legalized medical marijuana 26 years ago, legal operators in the industry have access to the powerful combination: a bank aligned with the California community and a leading cannabis fintech provider with a nationally compliant financial services track record. The partnership, Abaca x PVB, provides a single point of access for deposit bank accounts, electronic payment services and cash management options for licensed cannabis businesses in California.

“Abaca has been an agile, reliable and innovative industry leader in helping to connect legal cannabis businesses to financial services,” said Anker Fanoe, CEO of Pacific Valley Bank. “Pacific Valley Bank is a community bank that has served the cannabis industry for over two years, with clients from San Diego at Sacramento. Offering accounts with Abaca allows us to offer a streamlined one-stop shop for current and future commercial cannabis customers and amplifies the work we have already done as one of the first FDIC-insured banks in California working with the legal cannabis industry.”

Only a small portion of banks and credit unions across the country are ready to serve the cannabis industry. As a result, the cannabis industry remains significantly underbanked. Many operators find it difficult to access banking services that meet their needs.

As a result, these companies are very cash-intensive, sometimes even putting employees and the public at risk. Abaca x PVB helps this problem in California standardizing access to modern financial services and cash management for the cannabis industry statewide and nationally.

“Many operators across the state have been let down by unsophisticated, unreliable, and unnecessarily cumbersome banking solutions,” said Dan Roda, CEO of Abaca. “Now operators have access to the best of both worlds: the human touch of a California community bank with a deep understanding of unique market needs and the powerful technology of a financial platform that enables traders to seamlessly manage their finances online. Together, Abaca and Pacific Valley Bank are committed to providing the highest quality banking experience to California the cannabis industry.”

Founded in 2017, Abaca works with its FDIC-insured banking partners to enable traditional banking services for operators ranging from single dispensaries to entire MSOs in 13 states – and now California. Additionally, the Company’s online banking platform offers payment and treasury services to cannabis businesses nationwide. Abaca announced in early 2022 that it had compliantly processed over $3 billion in customer transactions.

About abaca

Abaca provides state-legal cannabis businesses with compliant bank accounts, cash management, electronic payments, and other financial services through its compliant, technology-based cannabis banking platform. Abaca and its partner financial institutions are currently accepting traditional bank account applications in Arkansas, California, Colorado, Florida, Illinois, Louisiana, Michigan, Mississippi, Missouri, Montana, North Dakota, Ohio, Oklahoma and South Dakota. The company’s banking platform also offers lending and payment processing services to cannabis businesses nationwide. Learn more about goabaca.com/california-cannabis-banking.

About Pacific Valley Bank

Pacific Valley Bank (member Federal Deposit Insurance Corporation) is a full-service merchant bank that began operations in September 2004 provide exceptional service to customers in California. The Bank offers a wide range of banking products and services, including credit and deposit services to small and medium-sized enterprises, agriculture-related businesses, non-profit organizations, professional service providers and individuals. . For more information, visit www.pacificvalleybank.com.

This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance and/or achievements to differ materially from those projected. . Accordingly, readers should not place undue reliance on these forward-looking statements. These risks and uncertainties include, but are not limited to, economic conditions in all areas in which the Bank operates, including the competitive environment to attract loans and deposits; supply and demand for real estate and the periodic deterioration of real estate prices and/or values ​​in California or other states where we lend; changes in the financial performance and/or condition of our borrowers, depositors, key suppliers or counterparties; changes in our levels of delinquent loans, non-performing assets, loan loss provisions and write-offs; the effect of changes in laws and regulations, including accounting practices; changes in estimates of future reserve requirements and minimum capital requirements based on a periodic review thereof in accordance with applicable regulatory and accounting requirements; fluctuations in interest rates and the market environment; cybersecurity threats, including loss of system functionality, theft, loss of customer data or money; technological changes and the increasing use of technology in banking; the costs and effects of legal, compliance and regulatory actions; acts of war or terrorism, or natural disasters; and other factors beyond the control of the Bank. These forward-looking statements, which reflect management’s beliefs, speak as of the date of this release. Pacific Valley Bank has no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.

SOURCEAbaca

Gary N. Geisel, head of M&T Bank Co. (NYSE:MTB), sells 533 shares

August 23, 2022

Montana Lending

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M&T Bank Co. (NYSE: MTBGet a rating) Director Gary N. Geisel sold 533 shares of the company in a trade dated Friday, August 19. The shares were sold at an average price of $189.34, for a total value of $100,918.22. Following completion of the transaction, the administrator now directly owns 17,740 shares of the company, valued at $3,358,891.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via the SEC website.

Performance of M&T Bank shares

MTB opened at $184.08 on Tuesday. The company’s 50-day moving average is $169.65 and its 200-day moving average is $172.11. The stock has a market capitalization of $33.03 billion, a PE ratio of 17.11, a price-to-growth earnings ratio of 0.84 and a beta of 0.91. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt ratio of 0.13. M&T Bank Co. has a 12-month low of $131.42 and a 12-month high of $193.42.

M&T Bank (NYSE: MTBGet a rating) last released its quarterly results on Wednesday, July 20. The financial services provider reported earnings per share of $1.08 for the quarter, missing analyst consensus estimates of $2.75 per ($1.67). M&T Bank posted a net margin of 23.21% and a return on equity of 10.76%. During the same period a year earlier, the company posted EPS of $3.45. On average, analysts predict M&T Bank Co. will post 15.21 earnings per share for the current year.

M&T Bank announces dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30. Shareholders of record on Thursday, September 1 will receive a dividend of $1.20 per share. The ex-date of this dividend is Wednesday, August 31. This represents a dividend of $4.80 on an annualized basis and a dividend yield of 2.61%. M&T Bank’s dividend payout ratio (DPR) is currently 44.61%.

M&T Bank announced that its board had authorized a share buyback plan on Tuesday, July 19 that allows the company to repurchase $3.00 billion of outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 9.7% of its shares through purchases on the open market. Stock buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Hedge funds weigh on M&T Bank

Hedge funds have recently changed their stock holdings. AIA Group Ltd increased its position in M&T Bank shares by 118.8% in the 1st quarter. AIA Group Ltd now owns 361 shares of the financial services provider worth $61,000 after buying an additional 196 shares during the period. Mutual of America Capital Management LLC increased its position in M&T Bank shares by 1.1% in the 1st quarter. Mutual of America Capital Management LLC now owns 17,175 shares of the financial services provider valued at $2,911,000 after purchasing an additional 184 shares during the period. Arizona State Retirement System increased its position in M&T Bank shares by 2.2% in the 1st quarter. Arizona State Retirement System now owns 35,820 shares of the financial services provider valued at $6,071,000 after purchasing an additional 785 shares during the period. Sciencast Management LP acquired a new position in M&T Bank stock in Q1 worth $1,695,000. Finally, Belpointe Asset Management LLC acquired a new position in M&T Bank shares in the 1st quarter with a value of $112,000. 87.61% of the shares are currently held by institutional investors and hedge funds.

Analysts set new price targets

Several research companies have commented on the MTB. Wedbush raised its price target on M&T Bank to $188.00 in a Friday, July 22 research report. Wells Fargo & Company lowered its target price on M&T Bank from $195.00 to $175.00 and set an “equal weight” rating for the company in a Friday, July 1 research note. Citigroup raised its target price on M&T Bank to $200.00 in a Friday July 22 research note. Robert W. Baird upgraded M&T Bank from a “neutral” rating to an “outperforming” rating and raised its target price for the company from $175.00 to $200.00 in a Friday, June 17 research note. To finish, StockNews.com downgraded M&T Bank from a “hold” to a “sell” rating in a Friday, August 12 research note. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned the company’s stock a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $198.71.

About M&T Bank

(Get a rating)

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The Company’s Business Banking segment provides deposit, lending, cash management and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial loans and leases, letters of credit and cash management services to medium and large commercial enterprises.

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Insider buying and selling by quarter for M&T Bank (NYSE:MTB)



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Governor Glenn Youngkin announces Virginia’s next energy plan is open to public comment and is now accepting ideas and comments for Virginia’s next energy plan – Royal Examiner

August 21, 2022

Montana Lending

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Attorney General Jason Miyares has reached a tentative agreement with opioid maker Endo International PLC and its lenders that would provide up to $450 million to participating states and local governments, ban promotion of Endo’s opioids, and require Endo to hand over millions of documents related to its role in the opioid crisis for publication in an online public archive. The Commonwealth of Virginia should receive at least $9 million.

Tentative settlement with Endo, which filed for Chapter 11 bankruptcy protection on Tuesday, August 16, 2022, in the Southern District of New York, resolves allegations that Endo boosted opioid sales using deceptive marketing that minimized the risk of addiction and exaggerated the benefits. Endo, an Ireland-based drugmaker with its US headquarters in Malvern, Pennsylvania, makes generic and branded opioids including Percocet and Endocet, and also made Opana ER, which was taken off the market in 2017. States allege that Endo falsely promoted the benefits of Opana ER’s so-called anti-abuse formulation, which did nothing to deter oral abuse and led to deadly outbreaks of hepatitis and HIV due to its widespread abuse by injection.

“Virginia has seen the brutal impact of the opioid epidemic in every corner of the Commonwealth. This national agreement will allow for extensive investment and remediation efforts for devastated communities. Although no prizes can be awarded to the thousands of lives lost, this settlement represents a major step in ensuring victims receive the treatment and care they need,” Attorney General Miyares said.

The resolution, which is dependent on final documentation and bankruptcy court approval, involves the following:


  • Requires payment of $450 million in cash over 10 years to participating states and subdivisions.
  • Demands that Endo turn over its opioid-related documents for publication online in a public records archive and pay $2.75 million for archiving expenses.
  • Forever banned the marketing of Endo’s opioids.

Negotiations are led by Virginia and the following states: Maine, Massachusetts, New Hampshire, Pennsylvania, Tennessee and Vermont. The settlement is also joined by the attorneys general of Arizona, Colorado, Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Montana, Nebraska, Nevada, New Jersey, North Carolina, North Dakota, Rhode Island, South Carolina, South Dakota, Utah , Washington, Wisconsin, Wyoming and the US Virgin Islands.


US Treasury offers another $10 billion in pandemic relief to small businesses in 4 states

August 19, 2022

Montana Lending

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The latest round of US Treasury relief is on its way to small businesses as recession worries continue to mount across the country.

The U.S. Treasury on Friday announced plans to roll out its third round of reauthorized State Small Business Credit Initiative (SSBCI) funds to Colorado, Montana, New York and Oregon. In total, the four additional states have been approved to receive up to $751 million in aid.

The SSBCI is a small business relief program that has been around since 2010, but was revived in March 2021 thanks to the $1.9 trillion U.S. Bailout Act that President Joe Biden signed into law.

The $10 billion financing program aims to expand access to capital for underserved communities. SSBCI funds are not distributed directly to companies, but rather to lenders. Qualifying small businesses and startups – generally defined as businesses with 500 or fewer employees – can seek loans or investments as they normally would through their bank, community lender or equity investor. shares.

The news follows an earlier release of funds in May in five states: Hawaii, Kansas, Maryland, Michigan and West Virginia. The five states have been approved for relief of up to approximately $639 million.

In July, the Treasury approved $1.5 billion in additional funding after greenlighting nine state plans from Arizona, Connecticut, Indiana, Maine, New Hampshire, Pennsylvania, South Carolina, South Dakota and Vermont. The agency has announced more than $2.25 billion in funding approvals so far, nearly a quarter of the $10 billion program.

The Treasury estimates the program could generate $10 in private investment for every $1 in federal funding, bringing the state total to $100 billion in total lending authority.

There is a menu of resources available to businesses through the SSBCI, which include venture capital, access to capital, collateral support, loan participation, and loan guarantee programs. State governments previously submitted their individual plans to the Treasury outlining how they would allocate funds to small businesses.

Montana, for its part, says it will operate a loan participation program with its funding and plans to expand opportunities for rural and Native American entrepreneurs in the state. Colorado plans to oversee three different programs focused on small businesses and specifically set aside $10 million of its SSBCI allocation to help businesses recover from the pandemic. Colorado Governor Jared Polis welcomed the announcement in a Friday press release, saying the funding will help support more than 11,000 jobs in the Centennial State.

US Treasury Secretary Janet Yellen echoed the praise: “This is a historic investment in entrepreneurship, small business growth and innovation through the US bailout that will help reduce barriers to access to capital for traditionally underserved communities, including those in rural areas,” Yellen said in a statement Friday.

The roadmap for future releases and the amount of relief is unclear. Details are expected to be released as funding is approved.

M&T Bank Corp sells 3,707 shares of Annaly Capital Management, Inc. (NYSE: NLY)

August 15, 2022

Montana Lending

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M&T Bank Corp reduced its position in shares of Annaly Capital Management, Inc. (NYSE: NLYGet a rating) by 5.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor held 65,541 shares of the real estate investment trust after selling 3,707 shares during the quarter. M&T Bank Corp’s holdings in Annaly Capital Management were worth $461,000 at the end of the most recent period.

Several other institutional investors and hedge funds have also recently changed their positions in NLY. Riverview Trust Co acquired a new position in Annaly Capital Management in the first quarter worth approximately $25,000. Hardy Reed LLC purchased a new stock position from Annaly Capital Management during Q1 worth approximately $27,000. Byrne Asset Management LLC acquired a new position in shares of Annaly Capital Management in Q4 worth approximately $31,000. CWM LLC acquired a new stake in Annaly Capital Management during the 4th quarter for a value of approximately $31,000. Finally, SJS Investment Consulting Inc. acquired a new stake in Annaly Capital Management during Q1 worth approximately $30,000. Institutional investors and hedge funds hold 41.79% of the company’s shares.

Annaly Capital Management Stock performance

NLY opened at $6.82 on Monday. The company’s 50-day simple moving average is $6.31 and its 200-day simple moving average is $6.71. Annaly Capital Management, Inc. has a 52-week low of $5.45 and a 52-week high of $8.94. The company has a market capitalization of $11.08 billion, a PE ratio of 2.71, a PEG ratio of 1.25 and a beta of 1.16.

Annaly Capital Management (NYSE: NLYGet a rating) last reported quarterly earnings data on Wednesday, July 27. The REIT reported earnings per share (EPS) of $0.30 for the quarter, beating analyst consensus estimates of $0.25 by $0.05. The company posted revenue of $475.14 million for the quarter, versus $399.39 million expected by analysts. Annaly Capital Management achieved a return on equity of 16.72% and a net margin of 178.91%. The company’s revenues were down 18.2% from the same quarter last year. In the same quarter a year earlier, the company posted EPS of $0.30. On average, research analysts expect Annaly Capital Management, Inc. to post 1.08 earnings per share for the current year.

Annaly Capital Management announces a dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 29. Shareholders of record on Thursday, June 30 received a dividend of $0.22. The ex-dividend date was Wednesday, June 29. This represents a dividend of $0.88 on an annualized basis and a dividend yield of 12.90%. The payout ratio of Annaly Capital Management is 34.92%.

Insider activity at Annaly Capital Management

In other news from Annaly Capital Management, CEO David L. Finkelstein bought 200,000 shares in a trade on Friday, June 17. The shares were purchased at an average price of $5.56 per share, with a total value of $1,112,000.00. Following completion of the transaction, the CEO now directly owns 1,669,013 shares of the company, valued at $9,279,712.28. The acquisition was disclosed in a legal filing with the SEC, accessible via this link. 0.31% of the shares are currently held by insiders of the company.

Analyst upgrades and downgrades

NLY has been the subject of several research analyst reports. Piper Sandler cut her price target on Annaly Capital Management shares from $6.50 to $6.00 and set a “neutral” rating for the company in a Tuesday, June 28 report. Credit Suisse Group lowered its price target on Annaly Capital Management to $6.50 in a Friday, July 22 report. JPMorgan Chase & Co. cut its price target on Annaly Capital Management from $7.50 to $6.50 and set an “overweight” rating on the stock in a Monday, April 25 report. Barclays lowered its target price on Annaly Capital Management from $8.00 to $7.00 in a Wednesday April 27 research report. Finally, Keefe, Bruyette & Woods upgraded Annaly Capital Management from a “market performer” rating to an “outperformer” rating and raised their price target for the stock from $6.25 to $6.75. in a Wednesday, June 8 research report. Five research analysts gave the stock a hold rating and two gave the company a buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.67.

Annaly Capital Management Company Profile

(Get a rating)

Annaly Capital Management, Inc, a diversified capital manager, engages in mortgage financing and middle market business lending. The Company invests in agency mortgage-backed securities, mortgage servicing rights, agency commercial mortgage-backed securities, non-agency residential mortgage assets, residential mortgages, transfer securities credit risk, corporate debt and other commercial real estate investments.

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Want to see what other hedge funds hold NLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Annaly Capital Management, Inc. (NYSE: NLYGet a rating).

Institutional ownership by quarter for Annaly Capital Management (NYSE:NLY)



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Kirk W. Walters sells 21,116 shares of M&T Bank Co. (NYSE: MTB)

August 13, 2022

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M&T Bank Co. (NYSE: MTBGet a rating) Director Kirk W. Walters sold 21,116 shares of the company in a trade on Tuesday, August 9. The shares were sold at an average price of $180.00, for a total transaction of $3,800,880.00. Following the completion of the sale, the administrator now directly owns 6,134 shares of the company, valued at $1,104,120. The transaction was disclosed in an SEC filing, which is available via this hyperlink.

M&T Bank shares up 1.6%

Shares of MTB opened at $189.82 on Friday. The stock has a market capitalization of $34.06 billion, a PE ratio of 17.64, a P/E/G ratio of 0.82 and a beta of 0.91. M&T Bank Co. has a 1-year low of $131.42 and a 1-year high of $189.88. The company has a debt ratio of 0.13, a quick ratio of 1.05 and a current ratio of 0.98. The company’s 50-day simple moving average is $167.40 and its 200-day simple moving average is $171.25.

M&T Bank (NYSE: MTBGet a rating) last released its quarterly results on Wednesday, July 20. The financial services provider reported earnings per share (EPS) of $1.08 for the quarter, missing the consensus estimate of $2.75 per ($1.67). M&T Bank had a return on equity of 10.76% and a net margin of 23.21%. During the same quarter last year, the company posted EPS of $3.45. Analysts expect M&T Bank Co. to post earnings per share of 15.21 for the current fiscal year.

M&T Bank said its board authorized a stock repurchase plan on Tuesday, July 19 that sees the company repurchase $3.00 billion of outstanding stock. This repurchase authorization allows the financial services provider to repurchase up to 9.7% of its shares through purchases on the open market. Stock repurchase plans usually indicate that the company’s board of directors believe its stock is undervalued.

M&T Bank announces dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 30. Investors of record on Wednesday, June 1 received a dividend of $1.20. The ex-dividend date was Tuesday, May 31. This represents an annualized dividend of $4.80 and a yield of 2.53%. M&T Bank’s dividend payout ratio (DPR) is 44.61%.

Changes to analyst ratings

Several analysts have recently commented on MTB shares. Piper Sandler raised her price target on M&T Bank shares from $200.00 to $210.00 in a Wednesday, April 20 research note. StockNews.com cut M&T Bank shares from a “hold” rating to a “sell” rating in a research note on Friday. JPMorgan Chase & Co. cut its price target on M&T Bank shares from $200.00 to $195.00 and set a “neutral” rating for the company in a Friday, July 1 research note. Robert W. Baird upgraded M&T Bank shares from a ‘neutral’ rating to an ‘outperforming’ rating and raised his price target for the stock from $175.00 to $200.00 in a research report Friday, June 17. Finally, Citigroup raised its price target on M&T Bank shares to $200.00 in a Friday, July 22 research report. One analyst rated the stock with a sell rating, four gave the company a hold rating and eight gave the company a buy rating. Based on MarketBeat data, M&T Bank currently has a consensus rating of “Moderate Buy” and an average target price of $198.71.

Hedge funds weigh on M&T Bank

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Riverview Trust Co acquired a new position in M&T Bank in Q1 worth approximately $27,000. WASHINGTON TRUST Co increased its holdings in M&T Bank by 77.4% in the 2nd quarter. WASHINGTON TRUST Co now owns 188 shares of the financial services provider worth $30,000 after acquiring 82 additional shares during the period. Bank of New Hampshire bought a new position in M&T Bank in Q1 for about $34,000. Cordasco Financial Network bought a new position in M&T Bank in Q1 worth around $34,000. Finally, JW Cole Advisors Inc. bought a new position in M&T Bank in Q1 worth around $34,000. 87.61% of the shares are currently held by hedge funds and other institutional investors.

About M&T Bank

(Get a rating)

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The Company’s Business Banking segment provides deposit, lending, cash management and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial loans and leases, letters of credit and cash management services to medium and large commercial enterprises.

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$160 million deal reached to advance next-generation aerial firefighting platforms

August 11, 2022

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DA Davidson, a team of capital market professionals, assessed and closed $160 million in industrial development revenue and revenue repayment obligations for Bridger Aerospace, a Montana-based aviation services provider.

The deal represents one of the largest taxable unrated municipal ESG bonds in the country.

Proceeds from the bond will help Bridger Aerospace fund two aircraft hangars to be located at Gallatin Field in Belgrade, Montana, and acquire four new SuperScooper firefighting aircraft.

“Bridger Aerospace operates the largest and most sophisticated fleet of firefighting aircraft, and as it redefines its technology to meet the emerging challenges of aerial wildfire fighting, we are grateful to have the opportunity to provide the financial solutions necessary to support a strategy of continued growth”, said Kyle Thomas, CEO of DA Davidson.

Founded in 2014 and led by current CEO and former Navy SEAL Tim Sheehy, Bridger is a company focused on addressing the year-round threat of economic and environmental damage caused by wildfires.

Through its fleet of aircraft and FireTRAC, its data collection, aerial surveillance and reporting platform, Bridger provides its federal agency and state government customers with a range of aerial response solutions. against fires.

Bank of Valletta removes high balance fees on business deposits

August 9, 2022

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Bank of Valletta will no longer charge high balance fees on deposits to non-personal customers, following the interest rate hike by the European Central Bank.

The high balance fee was introduced following the negative interest rate scenario that prevailed until the end of July 2022.

BOV specifies in a press release that the fee has been withdrawn from the tariff of charges as of August 1, 2022.

Albert Frendo, director of corporate banking, said BOV is following and adapting to the changing environment. “We ensure that changes in market dynamics are reflected in our pricing and business strategy.”

The ECB raised its key rate by 0.5 percentage points to 0% last month and plans further hikes this year in a bid to calm runaway inflation. The rate has been negative since 2014 in an effort to revive the eurozone economy after years of weak growth.

But with inflation on the rise, the ECB has been forced to intervene, even as economists fear the European economy could slip into recession.

Frendo said BOV ensures that the level of corporate deposits is sustainable and within required parameters. “With this in mind, we ensure that any benefits resulting from market changes flow immediately to the customer, while effectively managing negative changes as much as possible,” he said.

The bank said its decision was part of other efforts to support Maltese entrepreneurs. “In an ensuing period of inflation, the bank continues to ensure that it remains the leading provider of trade finance, underpinned by strong credit fundamentals and effective feasibility assessments to continue to support sustainable economic growth in the various economic sectors that drive the Maltese economy,” says Frendo.

‘Quasi-preneurs’ see opportunities and challenges in franchising | Lifestyles

August 6, 2022

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By MAE ANDERSON – AP Business Writer

NEW YORK (AP) — In 2020, Kelly Jackson and Davina Arceneaux wanted to quit their corporate jobs and become business owners. They were looking for something that was both COVID-proof and recession-proof.

Instead of completely stepping out of a corporate umbrella, they turned to franchising. Both worried about notoriously tight restaurant margins. They considered a drug testing franchise, but the initial investment was too high.

A franchise mentor told them about Motto Mortgage Home Services, and Jackson and Arceneaux opened one in Oakbrook Terrace, Illinois, in July 2020 with an initial investment of $35,000.

“People always need new places to live and always buy and sell houses,” Jackson said. It takes rising interest rates in stride. “Interest rates go up and down, that’s what they do, it’s part of the industry.”

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Jackson and Arceneaux, who had served as senior IT program and project manager and assistant restaurant manager, respectively, had no mortgage experience, but Motto Mortgage provided training and support.

“You don’t necessarily need experience in this industry to fit into this category, the brand will train you,” said Matt Haller, president and CEO of the International Franchise Association.

In the months following the outbreak of the pandemic, many people in corporate jobs decided to step aside, in what is known as the “great resignation”. They looked for alternatives, including opening a franchise with an established brand.

Quasi-preneurs who open franchises say they like the opportunity to buy a proven brand and access to tools and operations you wouldn’t get if you were starting your own small business. But the franchise also comes with many challenges. There are many rules and regulations to follow. Contracts are long and can be difficult to terminate.

The number of U.S. franchises rose about 3% in 2021 to 774,965 after a decline in 2020, according to the IFA. These include large franchises like McDonald’s or 7-Eleven, but all types of businesses can be franchised, from pool cleaners to hair salons.

There are approximately 3,000 franchise brands in the United States. The IFA predicts that the number of franchises in the United States will increase by 2% to 792,014 this year. This is still only a fraction of the 32.5 million total small businesses in the United States.

Franchise owners purchase with an upfront fee – ranging from tens of thousands to hundreds of thousands of dollars – to get their business, then pay a monthly royalty percentage. In return, they get use of the brand name and marketing, as well as other media.

A classically trained pastry chef, Helen Kim has often dreamed of owning her own bakery. But when she decided to go it alone, Kim thought building a business from scratch would be “too big a mountain for me to climb.”

While working at the Aria Resort & Casino in Las Vegas, Kim was a frequent customer of Paris Baguette. She was impressed and last year bought a Paris Baguette franchise in the city with her sister.

Although the financial requirements are strict — according to the company’s website, franchisees need a net worth of $1.5 million and $500,000 in cash — Kim said it’s worth it . Although money invested in a franchise is always at risk if the business fails, brand recognition and support from the franchisor provides more of a safety net than establishing an unknown brand.

However, getting used to a franchise structure can be an adjustment. When Chris Dordell and husband Jason Fenske decided to quit their jobs at Wells Fargo and Salesforce and open two Pilates Clubs in 2018 and a YogaSix studio in 2020, in and around Palm Springs, they appreciated the playbook provided by the franchisor Xponential.

“It was interesting at this point after having been in corporate jobs for over 20 years that we could plug into an existing model,” Dordell said.

But Dordell said you have to adapt to company rules. Some costs incurred while building the franchises could have been reduced, but “to maintain consistency across the business, we needed to follow the model.”

If a franchisor changes direction or is sold, a franchisee may be left behind.

Tom Lee and his wife opened a home health care franchise, Home Care Assistance, in Burlington, Vermont, in late 2016 after Lee decided to quit his career in sales management for a large corporation. After initially investing $300,000 and spending three years living on savings without receiving a salary, the business began to take off.

Lee currently employs 65 carers and posted double-digit profit increases in 2020 and 2021. But the franchisor changed ownership and began buying out franchisees to operate them privately. In 2022 it was rebranded as The Key, leaving the approximately 20 remaining franchisees, still known as Home Care Assistance, in limbo.

Lee said he still pays a 5% monthly royalty, but doesn’t receive the same support. The Key made an offer to buy the business, but it was well below market value, Lee said.

Key did not respond to a request for comment.

“They no longer have the staff to support us,” he said. “They’ve really dropped the brand.”

As with any business venture, franchisees need to be aware of what they are getting into.

Mario Herman, a Washington-based attorney who focuses on franchise litigation, said it’s important for potential franchisees to carefully review contracts to make sure nothing is obscured like previous bankruptcies or a lack of profitability.

Earlier this year, the Federal Trade Commission sued Burgerim, a franchiser of the Calabasas, Calif., burger chain, which it said tricked 1,500 people into paying $50,000 to $70,000 in fees to open restaurants. franchises without giving them enough information about the risks. Burgerim promised a refund if franchisees couldn’t open a restaurant but didn’t deliver, according to the complaint. Burgerim did not respond to a request for comment.

“If done right, (a franchise is) great, but you have to be extremely careful,” Herman said. “There are a lot of frauds out there.”

Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

Has your crypto exchange gone bankrupt? The best money moves to make next, according to experts

August 2, 2022

Montana Lending

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Maneerate of Nattakorn / iStock.com

This crypto winter has been particularly harsh following the recent collapse of several crypto platforms which left investors frustrated as to how to recover their assets.

Find out: Will Crypto recover? Here’s what you need to know
Discover: 7 things you should never do when planning your retirement

Crypto lending platforms Voyager Digital and Celsius promised eye-popping returns to their clients – until they both filed for bankruptcy in early July due to their exposure to the now infamous Three Arrows Capital, which has itself went bankrupt after the implosion of Terra LUNA and its stablecoin TerraUSD (UST).

Voyager makes loans, “usually in the form of a specific type of cryptocurrency, to counterparties in the cryptocurrency industry to facilitate liquidity or trade settlement and interest earned on company loans. are passed on to customers, who earn a ‘return’ on their cryptocurrency storage,” the company explained in the bankruptcy court filing.

Celsius, which had a similar pattern, said in its bankruptcy filing that “these Chapter 11 cases will provide debtors ‘respite’ to negotiate and implement a plan that will maximize the value of its business and generate recoveries. meaningful to our stakeholders as quickly as possible.”

According to the court filing, Celsius has a $1.2 billion deficit on its balance sheet and owes users $4.7 billion. The company says it has $167 million in cash, “which will provide sufficient liquidity to support certain operations during the restructuring process,” according to a statement announcing the Chapter 11 proceeding.

The collapse of Terra and the loss of over $50 billion in Luna and UST coin values ​​over a three-day period created a domino effect and immediate problems for many market participants, leading to the eventual “ cryptocalyse” and “many of these market participants have had to halt operations, limit withdrawals, or take out emergency rescue loans to survive,” according to Celsius’ bankruptcy filing.

And now, retail investors seem to have little to no options.

Is there a way to recover your loss?

Jeffrey Blockinger, general counsel for Web3 company Quadrata, told GOBankingRates that a user’s ability to recover assets will depend on asset segregation and the total amount of assets remaining on different companies’ balance sheets.

“It looks like most users will end up as creditors of the bankruptcy estate and will receive less than the amounts that have been deposited on the various platforms, if anything,” he said. “The process can take a long time. Generally, funds will be frozen until a count of all assets is completed and a user’s claim is deemed valid by the bankruptcy court.

“Celsius has previously warned that the funds could be unrecoverable and Voyager said some assets are held in FDIC-covered accounts. It remains to be seen what level of protection, if any, Voyager investors will receive through these accounts. If these platforms had insurance, users could recover some of their deposits, but the insurance is unlikely to cover all users’ total losses,” he continued.

Unfortunately for investors, on July 28, the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board took away all hope of recovering any money. In fact, the agencies issued a joint letter asking crypto brokerage firm Voyager Digital to stop telling clients that their investments were insured and demanded that the company remove any previous claims insinuating that clients who had invested with Voyager would receive FDIC insurance coverage for all funds. provided to, and owned by, Voyager.

“These representations are false and misleading. Based on the information gathered to date, it appears that these representations have likely been misleading and have been relied upon by customers who have placed their funds with Voyager and do not have immediate access to their funds,” according to the agencies.

How long could it take to recover even a little money?

Adding another layer of frustration, investors will need to be very patient as bankruptcy proceedings tend to be lengthy. Rahsan Boykin, general counsel for decentralized exchange Hashflow, told GOBankingRates that a typical bankruptcy proceeding can take three to four months, however, it would not be surprising if a proceeding of this size and visibility take a little longer.

Boykin added that there’s not much users can do to get their funds back at this time, as Voyager and Celsius view customers as “unsecured creditors” who will be the last to get their money back.

“Look at Mt. Gox as an example of what to expect. The exchange failed in 2014 and no one has been reimbursed yet,” he said. bankruptcy, but it seems unlikely to bring good news to customers.”

“Another aspect to watch is the role of strategic third-party players – we have seen FTX offer financial assistance to struggling companies in an effort to acquire assets at a discount,” he added.

He also shared that at this point, the best-case scenario for most users is probably only a partial refund and the ability to write off their tax losses in a few years.

Can these losses be used as tax deductions?

Jay Fraser, head of strategy at blockchain-enabled securities exchange BSTX, echoed the sentiment, telling GOBankingRates that what will most likely happen is that users will write off their holdings as bad debts. on their taxes, but they can only do that if it’s a total loss.

“With so much of the industry-wide collapse caused by Three Arrows’ defaults, the amount of money customers recover will depend on how much money can be recovered from Three Arrows,” a- he declared. “So far, that’s only been $40 million out of about $3 billion in loans. This experience, painful as it is, could be positive for the long-term adoption of crypto by institutional managers. With more guardrails and regulation that closely mirrors traditional finance, risk managers could enable greater exploration of crypto assets for institutional portfolios.

How should investors approach buying crypto in the future?

Although options are limited to recoup losses, experts recommend certain steps for investors before returning to crypto.

Hayden Hughes, CEO of crypto social trading platform Alpha Impact, told GOBankingRates that going back to crypto, consider dollar cost averaging, which is buying a fixed amount of investments each month.

“Use Twitter. Start following well-known crypto accounts. Unlike most other industries, in crypto news travels faster on Twitter,” he said. the subject of many rumors weeks before the suspension of withdrawals. Pay attention to traditional finance news: As of 2020, crypto has been highly correlated to the stock market. What’s bad for the stock market tends to be bad for crypto, and vice versa.

He also recommends finding an expert trader to follow, for example using a social trading platform, but remember to only take trading advice from someone whose background you know.

It is also crucial to watch the Fed, he said, because there is still a lot of uncertainty in traditional markets, due to the rapid increase in interest rates, which in turn would lead to a continued decline in stocks, crypto and other assets.

Learn: Are these cryptos the next Bitcoin or Ethereum?
See: What are Play-to-Earn games? Here are the 10 Best Crypto NFT Games of 2022

“Decide on your budget. Figure out how much of your salary should be spent on investments and what percentage crypto should take up in your overall portfolio,” he said. “And diversify with lower-risk investments. Crypto shouldn’t be your only investment. Consider ETFS, stocks, bonds and other assets.

More from GOBankingRates

About the Author

Yael Bizouati-Kennedy is a full-time financial journalist and has written for several publications, including Dow Jones, The Financial Times Group, Bloomberg and Business Insider. She has also worked as a VP/Senior Content Writer for major New York-based financial firms, including New York Life and MSCI. Yael is now independent and most recently co-authored the book “Blockchain for Medical Research: Accelerating Trust in Healthcare”, with Dr. Sean Manion. (CRC Press, April 2020) She holds two master’s degrees, including one in journalism from New York University and one in Russian studies from Toulouse-Jean Jaurès University, France.

Submarine Force Launches Inaugural Submarine Conference of the Americas > United States Navy > News-Stories

July 29, 2022

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The inaugural SCOTA was hosted by Western Hemisphere Submarine Leaders (WHEM) from Allied and Partner nations operating submarines to showcase and address national submarine domain capabilities, interoperability challenges and underwater collaboration against strategic competitors in the WHEM.

Vice Admiral William Houston, Commander of the Submarine Forces, kicked off the multinational conference with a word of welcome to participants from Argentina, Brazil, Canada, Chile, Colombia, Peru and the United States

“We are all at this conference together because our countries share the same values ​​of democracy,” Houston said. “Our submarine forces all offer unique capabilities and advantages and this conference will allow us all to take a new step in our partnerships while strengthening our ability to operate as a cohesive joint and combined force that can respond to emerging crises if necessary. “

Following Houston’s introduction, a video of Secretary of the Navy Carlos Del Toro was played for attendees thanking them for their time and cooperation while encouraging them to take advantage of the unique opportunity to build knowledge between building relationships between allies and partnerships.

“I want to thank all of the top leaders in the Western submarine domain who are participating in this important conference today,” Del Toro said. “I believe SCOTA will lay the foundation for a renewed sense of collaboration and threat awareness in the underwater realm, so I urge you to make the most of this gathering and continue to grow our security partnerships. vital.”

After two days of presentations and discussions, Rear Admiral Carlos Alfonso Saz Garcia, Commander of the Peruvian Navy Submarine Forces, left the conference with a deeper understanding of the challenges of interoperability and submarine collaboration. Navy Against Strategic Competitors in the Western Hemisphere (WHEM).

“For us, it is very important to participate in this type of gathering, which is the first Submarine Conference of the Americas, because it seeks to unify collaboration between all submarine forces in the Western Hemisphere,” said Saz Garcia. “We have a lot in common, we sail the same seas and have similar submarines. I sincerely believe that SCOTA will strengthen ongoing partnerships and provide a different submarine take on a common security issue across the Americas.

The conference included presentations from several subject matter experts on global threats in the undersea theater, Navy security, the future of combined warfare in the Western Hemisphere, and lessons in hemispheric security. Admiral Daryl Caudle, Commander of Fleet Force Command, was a subject matter expert, who spoke about the advantages and capabilities of participating nations versus potential adversaries.

“One of our major advantages collectively in this room is the capabilities and superiority of our marines in the underwater realm,” Caudle said. “Our competitors cannot replicate or match the advantages we hold in the underwater environment. We all need to have a thorough understanding of the strengths and capabilities of each of our navies, so that we can better integrate when the time comes.

The conference also included a tour of the Virginia-class fast-attack submarine USS Montana (SSN 794), allowing attendees to see the capabilities of the US Submarine Force in person while providing a chance to pose and share questions and ideas.

The Submarine Force carries out the mission of the Department of the Navy in and from the submarine realm. In addition to giving additional capability to naval forces, the submarine force, in particular, should take advantage of the special advantages that come with submarine concealment to enable operational, deterrent and combat effects that the navy and nation cannot. could not get otherwise.

The submarine force and supporting organizations constitute the main submarine arm of the navy. Submarines and their crews remain the tip of the underwater spear.

Can you legally share how much you get paid with your colleagues?

July 25, 2022

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Over the years, regardless of my job, I’ve always felt like it’s taboo to talk about how much you get paid. Whether it’s your family, friends, or colleagues, the feeling is that you’re not supposed to tell anyone about it. It’s meant to be kept as a deep, dark secret that only you know.

But why? Is there really an unspoken rule that says it’s rude to discuss your salary with someone? Can you really get in trouble for talking about salary? Or have we all been manipulated by companies and their bosses and managers into thinking that our salary is a forbidden topic of conversation?

Can you get in trouble and even get fired from your job if you talk about your salary?

Does your employer have the right to punish or fire you for discussing how much the company is paying you?

The answer? NOPE.

According to National Labor Relations Commission, workers in Indiana, Kentucky and Illinois are protected. The same is true for all workers in the country.

… When you and another employee have a conversation or communication about your salary, it is illegal for your employer to punish or retaliate against you in any way for having that conversation.

Sharing your salary can help you in the future and others

Sharktank’s most ruthless and demanding businessman even says that we should share our salary information.

In my opinion, I think we should be very open about the amount we receive. Many times when I was asked what I wanted to do, I had no idea. Was I going to ask too much and be ignored, or God forbid, too little and be stuck being paid far less than I should be?

Most of the time I ended up selling myself short and getting paid much less than everyone else doing the same job. If we were all more comfortable discussing how much we paid, I would have had an idea of ​​what other people were earning and reasonably asked for more money upfront.

It’s confusing, so that might help.

Although workers can legally discuss their wages with co-workers, eastcoastriskmanagement.com says this,

Although the NLRA prohibits employers from preventing discussions of wages and working conditions, the provision is vague and the practice is common. Last year, in a national survey conducted by the Institute for Women’s Policy Research, half of adults said discussions about pay were either prohibited or discouraged in their workplaces.

If you are an employer, get me the details of what you can and cannot do, legally, regarding your employees by discussing how much you pay them, benefits, bonuses, incentives, terms and conditions work, etc.,

“> HERE.

WATCH: Here are 25 ways to start saving money today

Whether it’s finding discounts or simple changes to your daily habits, these money-saving tips can come in handy whether you have a specific savings goal, want to save money, money for retirement or just want to earn a few pennies. It’s never too late to be more financially savvy. Read on to learn more about how you can start saving now. [From: 25 ways you could be saving money today]

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Head-to-head record: Eagle Bancorp Montana (NASDAQ:EBMT) vs. Renasant (NASDAQ:RNST)

July 23, 2022

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Eagle Bancorp Montana (NASDAQ: EBMTGet a rating) and Renasant (NASDAQ:RNSTGet a rating) are both small cap finance companies, but which is the better company? We’ll compare the two companies based on their dividend strength, analyst recommendations, risk, valuation, profitability, institutional ownership and earnings.

Analyst Recommendations

This is a breakdown of the current ratings of Eagle Bancorp Montana and Renasant, as reported by MarketBeat.

Sales Ratings Hold odds Buy reviews Strong buy odds Rating
Eagle Bancorp Montana 0 1 0 0 2.00
Renasant 0 1 2 0 2.67

Eagle Bancorp Montana currently has a consensus target price of $22.00, indicating a potential upside of 12.76%. Renasant has a consensus target price of $34.63, indicating a potential upside of 12.09%. Given Eagle Bancorp Montana’s likely higher upside, stock analysts clearly believe that Eagle Bancorp Montana is more favorable than Renasant.

Volatility and risk

Eagle Bancorp Montana has a beta of 0.64, indicating its stock price is 36% less volatile than the S&P 500. By comparison, Renasant has a beta of 1.09, indicating its stock price is 9% more volatile than the S&P 500.

Dividends

Eagle Bancorp Montana pays an annual dividend of $0.50 per share and has a dividend yield of 2.6%. Renasant pays an annual dividend of $0.88 per share and has a dividend yield of 2.8%. Eagle Bancorp Montana pays 29.4% of its earnings as a dividend. Renasant distributes 32.7% of its profits as a dividend. Both companies have healthy payout ratios and should be able to cover their dividend payments with earnings over the next few years. Eagle Bancorp Montana has increased its dividend for 11 consecutive years.

Profitability

This table compares the net margins, return on equity and return on assets of Eagle Bancorp Montana and Renasant.

Net margins Return on equity return on assets
Eagle Bancorp Montana 12.04% 7.52% 0.80%
Renasant 23.66% 7.01% 0.93%

Insider and Institutional Ownership

46.9% of Eagle Bancorp Montana shares are held by institutional investors. Comparatively, 78.7% of Renasant shares are held by institutional investors. 7.4% of the shares of Eagle Bancorp Montana are held by insiders of the company. By comparison, 2.9% of Renasant shares are held by company insiders. Strong institutional ownership is an indication that endowments, large fund managers, and hedge funds believe a company will outperform the market over the long term.

Valuation and benefits

This chart compares gross revenue, earnings per share (EPS), and valuation of Eagle Bancorp Montana and Renasant.

Gross revenue Price/sales ratio Net revenue Earnings per share Price/earnings ratio
Eagle Bancorp Montana $97.52 million 1.34 $14.42 million $1.70 11:48
Renasant $695.67 million 2.48 $175.89 million $2.69 11:48

Renasant has higher revenues and profits than Eagle Bancorp Montana. Eagle Bancorp Montana trades at a lower price-to-earnings ratio than Renasant, indicating that it is currently the more affordable of the two stocks.

Summary

Renasant beats Eagle Bancorp Montana on 12 of the 17 factors compared between the two stocks.

About Eagle Bancorp Montana

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Eagle Bancorp Montana, Inc. operates as a bank holding company for Opportunity Bank of Montana, which provides various retail banking products and services to small businesses and individuals in Montana. It accepts various deposit products, such as individual checking, savings, money market and retirement accounts, as well as certificates of deposit accounts. The Company also offers 1 to 4 family residential mortgages, such as residential mortgages and building residential properties; commercial real estate loans, including multi-family housing, non-residential property, commercial construction and development, and farmland loans; and second mortgage/home equity loans. In addition, it offers consumer loans, such as loans secured by collateral other than real estate, such as automobiles, recreational vehicles and boats; personal loans and lines of credit; commercial business loans consisting of secured and unsecured business loans and lines of credit; building loans; agricultural loans; and mortgage lending services. The company operates 23 full-service branches, 1 community banking office and 25 ATMs. Eagle Bancorp Montana, Inc. was founded in 1922 and is headquartered in Helena, Montana.

About Renasant

(Get a rating)

Renasant LogoRenasant Corporation operates as a bank holding company for Renasant Bank which provides a range of financial, wealth management, trust and insurance services to retail and commercial customers. It operates through three segments: community banks, insurance and wealth management. The community banking segment offers checking and savings accounts, business and personal loans, asset lending and equipment rental services, as well as safe deposit and night deposit services . It also grants commercial, financial and agricultural loans; financing and leasing of equipment; real estate-1-4 family mortgage; real estate-commercial mortgage; real estate construction loans for the construction of single-family residential properties, multi-family properties and commercial projects; personal installment loans; and interim construction loans, as well as automated teller machines (ATMs), online and mobile banking, call centers and cash management services. The Insurance segment provides insurance agency services, such as commercial and personal insurance products through insurance companies. The Wealth Management segment offers a range of wealth management and trust services, including the administration and management of trust accounts, such as personal and corporate benefit accounts, and custodial accounts, as well as accounting and fund management for trust accounts; annuities, mutual funds and other investment services through a third party broker; and qualified retirement plans, IRAs, employee benefit plans, personal trusts and estates. As of December 31, 2021, the company operated a network of 189 banking, credit and mortgage offices located in Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina and Tennessee; 150 full-service branches and 11 limited-service branches; 173 ATMs; and 38 ATMs. Renasant Corporation was founded in 1904 and is headquartered in Tupelo, Mississippi.



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Fintech Legal Report – July 2022 | Coie Perkins

July 22, 2022

Montana Lending

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[co-author: Dania Assas]

Weekly Fintech focus

  • The CFPB is terminating a no-action letter with an AI credit underwriter.
  • A CFPB circular confirms that IA’s underwriting models are subject to anti-discrimination laws, including adverse action notices.
  • BNPL companies and credit bureaus are urged by the CFPB to properly report consumer information.
  • The CFPB is launching an initiative to improve customer service at major banks.

CFPB Terminates AI Credit Underwriting No Action Letter

On June 8, 2022, the Consumer Financial Protection Bureau (CFPB) issued a order ending a No Action Letter (NAL) that the CFPB originally granted to lending platform Upstart Network, Inc. (Upstart), in 2017 (CFPB’s first-ever NAL) and subsequently renewed in November 2020 for a period of three years.

Under the CFPB’s NAL policy, a person may seek treatment without action on a new product or service that offers the potential for significant consumer benefits where there is uncertainty as to how the CFPB would apply provisions specific to the law. Granting treatment without action means that the CFPB does not currently intend to take supervisory or enforcement action against the recipient with respect to the subject matter of the NAL.

The CFPB’s termination of Upstart NAL is the latest in a series of CFPB actions that have raised questions about the future of its NAL policy. The following timeline briefly summarizes these events:

  • In 2017, Upstart requested an NAL from the CFPB to clarify that Upstart’s credit underwriting model, which involved proprietary applications of artificial intelligence and machine learning to complement traditional credit scoring methodologies, did not present a violation of the Equal Credit Opportunity Act (ECOA) and Regulation B. The CFPB granted Upstart’s request, making Upstart the first entity to receive no-action treatment under the new policy NAL of the CFPB.
  • On November 30, 2020, the CFPB renewed NAL from Upstart for another three years. The NAL terms and conditions required Upstart to notify the CFPB of material changes to Upstart’s model.
  • On April 13, 2022, Upstart notified the CFPB of its intention to add new variables to its underwriting and pricing model. According to the CFPB’s June 8 termination order, CFPB staff requested more time to review Upstart’s proposal.
  • On May 24, 2022, the CFPB announcement that it was replacing its Office of Innovation (which handled NAL applications) and its Project Catalyst (another initiative to encourage innovation) with a new Office of Competition and Innovation. The CFPB press release states that “[a]fter a review of these programs, the agency concludes that the initiatives have proven ineffective and that some firms participating in these programs have made public statements that the Bureau has provided them with benefits that the Bureau has not expressly granted.
  • On May 27, 2022, per the CFPB Termination Order, Upstart asked the CFPB to amend the NAL to reduce its term from 36 months to 18 months, meaning it would end three days later on May 30, 2022 .
  • On June 8, 2022, the CFPB announcement that he issued the order to terminate Upstart’s listing on his list of approved NALs.

CFPB Circular Confirms Anti-Discrimination Laws Apply to Algorithms

The CFPB published a circular confirming that federal anti-discrimination law requires explanations of the specific reasons for denying credit applications or taking other adverse action against applicants. The circular warns companies using algorithmic decision engines (or AI engines) that a “black box model” for loan decisions does not exempt the company from explaining adverse actions to applicants as required. the law. The agency warns that with some black box models, users and developers may not be able to know the reasoning behind the model’s results, which could prevent companies from meeting adverse action notification requirements. of ECOA. ECOA and Regulation B require a creditor to provide notice when taking adverse action against a plaintiff, explaining with specific and specific reasons why the creditor took such action. If the creditor uses technology that does not allow them to explain their decision-making process, then the creditor will not be able to comply with the law. In short, complexity, opacity, or time in the market will not be considered excuses for failure to meet a creditor’s notice of adverse action requirements.

BNPL companies invited by the CFPB to declare their credit data

On June 15, 2022, the CFPB published a blog post followed by his request (which we talked about here) into “buy now, pay later” (BNPL) companies. In the message, the agency urges BNPL companies to report positive and negative data to credit bureaus when BNPL payments are provided. In addition, the CFPB encourages the BNPL industry to develop standardized BNPL furnishing codes and formats to provide data that matches BNPL’s unique product offering. Although the major credit bureaus have announced their intention to accept BNPL data, the CFPB is concerned that differences between credit bureau plans could lead to inconsistent treatment of this data, meaning that the provision of this data will benefit consumers less. The CFPB will monitor the BNPL industry’s progress as the consumer credit data reporting changes are implemented.

CFPB launches initiative to improve customer service in major banks

CFPB Director Rohit Chopra led a town hall on June 14, 2022 in Great Falls, Montana to discuss the agency’s new initiative. The CFPB is seeking feedback from consumers on their relationship with their banks, including how they assert their rights to better service with major banks and credit institutions. The town hall included local community organizations, advocates, leaders and members of the public. Together, the group discussed the challenges faced by people in rural Montana and how banking deserts negatively affect Montana’s financial landscape.

Chopra noted that recent banking consolidation has had mixed results for consumers and customer service experiences, especially in rural communities. Rural customers faced reduced access to banking services as they were more likely to go to smaller banks or credit unions, but now live in rural banking deserts with no intimate banking relationship.

Additionally, many financial institutions and tech companies are turning to what Chopra calls “algorithmic banking,” which relies on using large amounts of data about an individual through tracking and surveillance to make predictions. on his behavior and banking habits. Chopra concedes that moving away from traditional banking relationships could eliminate discrimination based on human judgment, but warns that automated technologies are also a problem, as algorithmic biases can unfairly affect results.

To revitalize relationship banking, the CFPB has launched a Request for Information to find out how everyone can assert their right to better customer service with their depository institution. “Big bank customers shouldn’t have to go through an obstacle course to get a clear answer on their account,” Director Chopra said at the town hall meeting. In particular, the CFPB seeks to understand, among other things, (i) the types of information people request from their bank and how they use that information; (ii) what information is not currently available to consumers from their banks; and (iii) any customer service impediments that impede a consumer’s ability to bank (for example, wait times, disconnected calls, or the quality of answers to questions).

The CFPB also seeks to ensure that the algorithmic bank does not receive preferential treatment and must follow the same laws as traditional banks. The CFPB issued a policy in March confirming that financial firms must explain to applicants the specific reasons for denying a credit application or taking other adverse action. He also ordered several Big Tech companies, such as Facebook, Apple and Google, to provide the CFPB with information about their efforts to better monitor payment systems and how they plan to use customer data to power their algorithms.

[View source.]

No food, no fuel and no jobs: the economic disaster engulfing Sri Lanka

July 20, 2022

Montana Lending

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Before the collapse of the Sri Lankan economy, Nazir, 50, spent scorching days hauling carts full of rolls of cloth, piles of coconuts and sacks of garlic through the narrow streets of the market in Pettah to Colombo.

Now dressed in a black cap, T-shirt and gray pants, Nazir sits idly in front of dozens of empty carts, listening to speeches on his mobile phone. He turns up the volume and points to the screen: “Aragalaya!referring to the popular uprising in Sri Lanka that overthrew its president last week.

On a good day, Nazir earned the equivalent of $8, just enough to feed his family of six, of which he is the breadwinner. “Now the business is dead,” he said. If he’s out of work today, he’ll go home with less than a dollar in his pocket.

Sri Lanka’s economic collapse has been blamed on former President Gotabaya Rajapaksa, who flew to Singapore after initially fleeing the country on a military plane to the Maldives as a wave of protests rocked the island nation.

Protesters were furious with the president for borrowing heavily to build China-backed projects and his eccentric policies, which included a ban on fertilizer imports.

Erratic economic management has been compounded by a drop in tourism revenue due to the coronavirus pandemic and the war in Ukraine, which has failed Sri Lanka and sent its currency plummeting.

Sri Lanka, which has run out of foreign currency, has experienced severe fuel shortages, leading to mile-long queues for petrol © Arun Sankar/AFP/Getty Images

Sri Lanka’s debt stands at $51 billion, just over half of which is owed to bilateral and multilateral lenders, including China.

The economic fallout has had devastating consequences. “My family is skipping meals,” Nazir said. “At dinner, we share pieces of bread with coconut sambal. I use firewood for cooking because there is no fuel or kerosene.

Stories like Nazir’s reverberate through the Pettah Market, which was once a teeming maze of clothing shops and stalls selling everything from the latest electronics and washing up liquid to spices and coffee.

But the half-empty streets surrounding the country’s most important market, located directly behind the port of Colombo, are an indication of a failing Sri Lanka, which has been battered by soaring prices, rising unemployment, poverty and hunger.

With foreign currency reserves depleted, the nation of 22 million has run out of money to import fuel, leading to mile-long queues at gas stations. The fuel shortage has effectively driven many people out of work and forced schools, offices and businesses across the country to close.

On the other side of the market, MT Niyas, 55, drinks his second coffee of the day at the Lucky Cool Spot, a café serving workers with buns, hot drinks and cigarettes sold individually.

His sunburned body covered from head to toe in flour, Niyas said his daily wage for carrying sacks on his back had more than halved to SLR 2,500 ($7) as the trucks stopped working. arrive, while bus fares doubled to 70 rupees.

“I’ve worked here since 1981 and it’s the worst I’ve ever had,” Niyas said. “It’s good that the former president is gone. All we ask of whoever replaces him is that we can eat three full meals a day. It can’t be that hard!

MT Nias
MT Niyas: “All we ask. . . is that we can have three full meals a day” © Antoni Slodkowski/FT

Nisham, the 26-year-old bearded owner, steps in as he clears tables for new customers, gives change and pours fresh tea: “The workers came maybe 10 times in a long day for a tea quick or to chat. Now they come maybe twice a day.

He announces dizzying price increases in the last quarter: the price of milk powder has tripled to reach SLR 3,000 per kg, while those of sugar and even tea, which Sri Lanka exports all over the world, have more than doubled.

Nisham is open about his hatred for the Rajapaksa family, which has dominated Sri Lankan politics for decades. But there’s also a hint of wounded pride, echoed in many other conversations. “We have many natural resources in our beautiful country: tea, rubber, coffee, precious stones,” he said. “We should be able to do better than that.”

He and his fellow traders complained that ghost brokers stepped in to fill the void after banks stopped lending money. A 65-year-old woman named Aruna, who sells curry leaves, said she borrowed SLR 10,000 to keep her business afloat. But she has to repay SLR 1000 per day for 12 days.

Day laborers like those at Lucky Cool Spot are among the hardest hit, but they are no exception. The World Food Program said 3 million people were receiving emergency humanitarian aid after food inflation hit 80% last month. Nearly 90% of all households skip meals or skimp to make food last longer, the organization added.

Afzal Fasehudeen, a construction engineer who came to Pettah to stock up on leeks and carrots, had no doubts who was responsible for the crisis.

“This whole disappearance was caused by massive mismanagement and a complete lack of proper planning. The Rajapaksas have started construction projects right, left and center – it’s ridiculous,” Fasehudeen said.

As the construction boom came to a screeching halt, Fasehudeen said he and many of his friends who finished college two years ago were planning to leave the country.

“My business could soon go bankrupt. I don’t want to leave, but if nothing changes in the next few months, I will try to find a job in one of the Gulf countries,” Fasehudeen said.

“Everything increases, but not income. People are angry.

Avantax Advisory Services Inc. holds $636,000 worth of stock in M&T Bank Co. (NYSE:MTB)

July 18, 2022

Montana Lending

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Avantax Advisory Services Inc. increased its stake in the shares of M&T Bank Co. (NYSE: MTBGet a rating) by 24.1% in the first quarter, according to its most recent SEC filing. The company held 3,759 shares of the financial services provider after acquiring an additional 730 shares during the period. Avantax Advisory Services Inc.’s holdings in M&T Bank were worth $636,000 when it last filed with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Spire Wealth Management increased its holdings of M&T Bank shares by 8.3% in the fourth quarter. Spire Wealth Management now owns 896 shares of the financial services provider valued at $138,000 after purchasing an additional 69 shares during the period. Russell Investments Group Ltd. increased its holdings of M&T Bank shares by 20.6% in the fourth quarter. Russell Investments Group Ltd. now owns 95,710 shares of the financial services provider valued at $14,689,000 after purchasing an additional 16,362 shares during the period. Wealthfront Advisers LLC increased its holdings of M&T Bank shares by 7.1% in the fourth quarter. Wealthfront Advisers LLC now owns 26,468 shares of the financial services provider valued at $4,065,000 after purchasing an additional 1,763 shares during the period. Trust Co. of Vermont increased its holdings of M&T Bank shares by 1.0% in the fourth quarter. Trust Co. of Vermont now owns 11,606 shares of the financial services provider valued at $1,783,000 after purchasing 117 additional shares during the period. Finally, Denali Advisors LLC increased its stake in M&T Bank shares by 21.3% in the fourth quarter. Denali Advisors LLC now owns 570 shares of the financial services provider valued at $88,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds hold 87.61% of the company’s shares.

Insider activity

In other news, Vice President Kevin J. Pearson sold 5,000 shares of the company in a transaction dated Tuesday, May 17. The shares were sold at an average price of $169.71, for a total value of $848,550.00. Following the sale, the insider now directly owns 39,008 shares of the company, valued at approximately $6,620,047.68. The sale was disclosed in a legal filing with the SEC, accessible via the SEC website. Separately, Executive Vice President Robert J. Bojdak sold 525 shares of the company in a transaction dated Wednesday, June 8. The shares were sold at an average price of $177.82, for a total value of $93,355.50. Following the transaction, the executive vice president now owns 19,075 shares of the company, valued at approximately $3,391,916.50. The sale was disclosed in a document filed with the SEC, accessible via this link. Additionally, Vice Chairman Kevin J. Pearson sold 5,000 shares of the company in a trade dated Tuesday, May 17. The shares were sold at an average price of $169.71, for a total transaction of $848,550.00. Following the completion of the transaction, the insider now owns 39,008 shares of the company, valued at approximately $6,620,047.68. Disclosure of this sale can be found here. In the past ninety days, insiders have sold 7,725 shares of the company valued at $1,335,332. 0.73% of the shares are held by insiders of the company.

Analysts set new price targets

The VTT has been the subject of several research analyst reports. JPMorgan Chase & Co. cut its price target on M&T Bank shares from $200.00 to $195.00 and set a “neutral” rating for the company in a Friday, July 1 report. Deutsche Bank Aktiengesellschaft raised its price target on M&T Bank shares from $180.00 to $200.00 in a Friday, March 25 research note. StockNews.com upgraded M&T Bank shares from a “sell” to a “hold” rating in a Friday, June 10 research note. Wedbush raised its price target on M&T Bank shares from $187.00 to $212.00 in a Thursday, April 21 research note. Finally, the Goldman Sachs Group raised its price target on M&T Bank shares from $183.00 to $210.00 and gave the stock a “neutral” rating in a Monday, April 4 research note. Seven equity research analysts gave the stock a hold rating and seven gave the company a buy rating. According to data from MarketBeat, the stock has an average rating of “moderate buy” and a consensus target price of $190.51.

M&T Bank shares up 3.7%

Shares of MTB stock opened at $156.21 on Monday. The company has a debt ratio of 0.21, a quick ratio of 1.05 and a current ratio of 1.05. The company’s 50-day moving average is $166.21 and its 200-day moving average is $171.02. The stock has a market capitalization of $28.03 billion, a price/earnings ratio of 11.93, a PEG ratio of 0.74 and a beta of 0.89. M&T Bank Co. has a 52-week low of $128.46 and a 52-week high of $186.95.

M&T Bank (NYSE: MTBGet a rating) last released its results on Wednesday, April 20. The financial services provider reported earnings per share (EPS) of $2.73 for the quarter, beating analyst consensus estimates of $2.26 by $0.47. The company posted revenue of $1.45 billion for the quarter, versus $1.43 billion for analysts. M&T Bank posted a net margin of 29.31% and a return on equity of 11.45%. During the same period of the previous year, the company achieved EPS of $3.41. Sell-side analysts expect M&T Bank Co. to post EPS of 15.12 for the current year.

M&T Bank announces dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 30. Shareholders of record on Wednesday, June 1 received a dividend of $1.20. The ex-dividend date was Tuesday, May 31. This represents a dividend of $4.80 on an annualized basis and a dividend yield of 3.07%. M&T Bank’s payout ratio is 36.67%.

M&T Bank Company Profile

(Get a rating)

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The Company’s Business Banking segment provides deposit, lending, cash management and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial loans and leases, letters of credit and cash management services to medium and large commercial enterprises.

See also

Institutional ownership by quarter for M&T Bank (NYSE:MTB)



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3 Crypto Stocks to Buy Before a Crypto Bounce

July 16, 2022

Montana Lending

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The dismal performance of the crypto market has not only impacted cryptocurrencies themselves, but also companies that incorporate these assets into their business models. The crypto landscape seems to be changing day by day, but stocks like Coinbase (PIECE OF MONEY 0.69%), Marathon Digital Backgrounds (MARA 0.50%)and To block (SQ 5.70%) are best positioned to capitalize on a potential rebound in cryptocurrencies.

Coinbase

Neil Patel (Coinbase): With down actions a whopping 78% in 2022 (as of July 12), Coinbase tracked the significant weakness that plagued the broader crypto market. But the company has proven it can thrive if the conditions are right, making it a great stock to own in a turnaround scenario.

Coinbase’s business deteriorated in the first quarter, which is part of the reason why the stock took such a beating. In the first quarter of 2022, the company generated 87% of its total sales through transaction fees which depend on the volume of transactions mainly from retail customers on its platform. Unsurprisingly, as the entire digital asset market crashed, investor interest in cryptocurrencies also increased. And that means less activity on Coinbase’s network, which translates to net revenue of $1.2 billion in the first quarter, down 27% year-over-year.

If the crypto market rebounds, it’s not hard to see how Coinbase would benefit immediately. A rise in crypto prices would attract speculators looking to chase the upside yields, resulting in higher fees for the business. In 2021, a strong market for cryptocurrencies, Coinbase generated $3.6 billion in profit on $7.4 billion in revenue, up 1,025% and 545%, respectively, from the last year. The company is undoubtedly affected by the volatility of crypto, but in good times, the finances speak for themselves.

Besides being just a brokerage and exchange operator profiting from rising crypto asset prices, Coinbase’s management team, led by Founder and CEO Brian Armstrong, hopes to build a crypto economy dominated by crypto assets. utility rather than through financial speculation. The goal is to use cryptography to help create a new financial system and application platform.

Additionally, Coinbase Ventures, the company’s in-house investment arm, has made hundreds of investments in crypto businesses around the world. This gives Coinbase even more skin in the game to benefit from if things turn around and valuations rise again. Therefore, it is hard to find better stock than Coinbase that investors should consider in anticipation of a crypto rebound.

Marathon

RJ Fulton (Marathon Digital Holdings): Marathon Digital Holdings is the largest Bitcoin mining company by market capitalization – and for good reason. Since its inception in 2010, the company has gone through several crypto winters and prioritized innovative business models that are needed in a competitive industry. While in the midst of the current crypto winter, Marathon is still pursuing new ways to stay profitable.

Marathon has been busy for the past two months. The company has begun moving miners from their primary location in Montana to a new facility in West Texas that will offer lower energy costs.

These miners leaving Montana will join 19,000 other miners who are currently awaiting federal approval to get power so they can start mining Bitcoin. Once powered up, the 19,000 miners will increase Marathon’s mining power by nearly 50% from current levels.

To quantify mining power, a statistic known as hashrate is used. Hashrate is measured in exahashes per second (EH/s). It could be compared to the power of a car. Marathon’s current hashrate is only around 3.9 PE/s. This ranks near the top of the industry, but not as high as the company hopes it will be in the future.

The company has set a goal to increase its hashrate to 23.3 PE/s by 2023, an increase of almost 800%. To achieve this, another 49,000 miners are expected to join the 19,000 waiting for power in West Texas by the end of September. And the company does not stop there. Not only does it plan to increase its capacity, but it has also pledged to be carbon neutral by 2023.

Marathon leads an industry that is no stranger to innovation. The widespread crypto downturn has shredded Bitcoin mining company stocks. Companies that continue to innovate are the ones investors should be looking to add to their portfolio if a crypto rebound is on the horizon.

To block

Michael Byrne (Block): Although not as closely associated with cryptocurrency as Coinbase or Marathon Digital, Block (the company formerly known as Square) has a strong claim to be the ultimate Bitcoin stock. It starts with the CEO. Jack Dorsey has been one of Bitcoin’s most ardent and visible supporters in years and has reportedly stepped down as CEO of Bitcoin. Twitter so he can focus more on bitcoin. The company even changed its name from Square to Block to more directly reflect its focus on Bitcoin and blockchain technology. But it’s not just about talking – whether it’s onboarding millions of users to the Bitcoin Lightning Network with Cash App or developing new Bitcoin mining rigs, Block is becoming an increasingly part of more entrenched of bitcoin’s future.

Block brought the Bitcoin Lightning Network, a solution that allows Bitcoin to scale efficiently for small transactions, to Cash App in 2022 and put it in front of over 40 million users. Users of Cash App’s Cash Card products can choose to round up their debit or credit card purchases and use the change to buy Bitcoins. Cash App users can also choose to convert part of their salary into Bitcoin seamlessly. Miles Suter, Cash App’s Crypto Product Manager, said: “This is the biggest rollout of a feature like this to date. With two clicks, you’ll be able to choose a percentage between one and a hundred and boom. , you have finished. ”

Outside of Cash App, Block partners with Telsa on a joint venture to mine Bitcoin in Texas using the company’s Megapacks and solar panels. Elsewhere, Block’s “TBD” business segment is working on ambitious if somewhat esoteric projects like developing what it calls Web5, a bitcoin-centric answer to Web3, and a decentralized bitcoin exchange. It’s important to note that Block is more a play on broader Bitcoin adoption than cryptocurrencies as a whole, as Dorsey is an outspoken Bitcoin maximalist. Also, it’s worth noting that the company’s bitcoin ventures are only a small part of its business today, unlike stocks like Coinbase or Marathon Digital which have much more direct exposure to cryptocurrency.

Block is a boon for bitcoin because it brings millions of new users into the bitcoin network. On the other hand, Block will also benefit from the growing interest and adoption of Bitcoin by the general public, as it is arguably the best known and easiest way for a new user to start getting involved. in bitcoin.

Which markets are hot and which are not? | New

July 14, 2022

Montana Lending

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Before the coronavirus recession, Utah’s housing market was on fire. Then came the COVID-19 pandemic, which sent residents of Northern California and Seattle in search of affordable homes and more space, and an already hot market intensified.

Dave Robison, former president of the Utah Association of Realtors, simply summarizes the activity. “It’s crazy,” says Robison, a Salt Lake City real estate broker.

Its evaluation is not only the art of the sale. Home prices in Utah have soared as Californians flock to the state. Utah has the fastest pace of job growth in the nation, along with the lowest unemployment rate, few mortgage defaults, and low local and state taxes.

All of these factors propelled Utah to the top spot on Bankrate’s Housing Heat Index when it debuted in 2020. Utah continues to hold the top spot for the first quarter of 2022. Residential Real Estate boomed during the coronavirus recession, and Utah became a particularly desirable market.

Other states in the Rocky Mountain time zone are also booming. Montana, Arizona and Nevada rank second, fourth and eighth respectively in the Bankrate Index.

At the opposite end of the list is Louisiana, where price appreciation is among the slowest in the country and mortgage defaults are among the highest. Hawaii – a state that has been hit hard by the COVID-19 pandemic – has fallen from the bottom of Bankrate’s ranking. It rose from dead last in the first quarter ranking to 12th in the index based on winter economic data.

The 5 States With The Fastest Housing Economies

The Housing Heat Index shows how state housing markets are faring in the coronavirus-fueled housing boom and how they might fare in the future. To calculate the ranking, Bankrate analyzed six data points: annual house price appreciation, share of mortgages in arrears, unemployment, annual employment growth, cost of living index statewide and state-by-state tax burdens.

These five states had the strongest housing economies in the first quarter of 2022:

1. Utah – Its home values ​​jumped 26.8% in the 12 months that ended March 31, the third best among US states, according to the Federal Housing Finance Agency. Utah posted the lowest unemployment rate in the nation in March 2022, according to a Bankrate analysis of Labor Department data. Additionally, Utah’s tax burden is among the lowest in the country, according to the Tax Foundation.

2. Montana – Home values ​​soared 25% and Montana posted the top five spots in delinquent mortgages, job growth and tax burden.

3. Florida – Sunshine State home values ​​have jumped 30%, job growth is strong and taxes are low.

4. Arizona – Home values ​​jumped 28%, the best in the nation, and few homeowners fell behind on their loans.

5. Tennessee – Home values ​​are up 26%, job growth is strong and the cost of living is moderate.

Homebuyers are looking for affordability, space

Significant rankings of Mountain Time Zone states illustrate a shift in the housing market: Americans are still attracted to healthy labor markets, but even before the coronavirus pandemic, they were increasingly unwilling to pay to live in places like San Jose, Seattle and Boston.

COVID-19 has caused many people – especially those who can work remotely – to leave the more expensive areas for more affordable regions.

“We are seeing the preparations for a new affordable migration,” says Mark Vitner, senior economist at Wells Fargo. “The beneficiaries of this change have largely been the mid-sized metros in the western mountain states.”

The median price of a single-family home sold in Silicon Valley during the first quarter was $1.88 million, according to the National Association of Realtors. The typical price in Salt Lake City was $556,900 – above the national median, but not dramatically, and just a fraction of the price paid by residents of Northern California.

The price gap has prompted many people in high-cost markets to consider moving. The notion is particularly appealing to workers who can take their well-paying jobs to areas with lower costs of living.

“People suddenly have the ability to choose where they live, because they’re not tied to an office,” says Alicia Holdaway, agent at Summit Sotheby’s International Realty in Draper, Utah, and former chair of the Salt Lake City Board of Realtors. . “We have net immigration that has been happening for years, and it has only increased.”

Every boom brings its drawbacks, of course. In some cases, newcomers to the Utah housing market are loaded with money and ready to drive up prices.

“There’s always a setback,” Holdaway says. “We have seen housing affordability become a crisis.”

The 5 States With The Coolest Housing Savings

As a nationwide housing boom rages, every state saw property values ​​rise in the 12 months ending in September. However, some state economies are struggling with weak job growth and other challenges. The bottom five in our index:

47. Connecticut – This state showed poor performance across the board.

48. Washington, DC — The district’s score was dragged down by low appreciation, high unemployment, and a heavy tax burden.

49. Alaska – Slow job growth and high unemployment have weighed on the northernmost state.

50. Maryland – The state posted a relatively weak 11% appreciation, along with a high level of delinquent loans and a sluggish job market.

51. Louisiana – It ranks worst for delinquent loans, with 6.8% of homeowners behind on their mortgage payments. Louisiana is also doing poorly in terms of price appreciation, job growth and tax burden.

Brush fire in the area of ​​Highways 285 and 8 near Mount Lindo prompts evacuations

July 13, 2022

Montana Lending

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JEFFERSON COUNTY, Colo. (KRDO) – A reported bushfire in Jefferson County has forced evacuations.

At 3:23 p.m. Tuesday, the Jefferson County Sheriff’s Office (Jeffco) said crews were responding to the fire burning in the area of ​​Highway 285 and Highway 8 near Mount Lindo.

Officials said the blaze, dubbed the Snowcreek Fire, was on the south side of the highway and was spreading south. Although no structures were immediately threatened, authorities announced mandatory evacuations.

At 3:37 p.m., the Jeffco Sheriff’s Office declared a full evacuation for Mount Lindo and Willow Springs Point. At that time, officials announced that the evacuation site was The Fort.

However, at 4:35 p.m. the sheriff’s office said the evacuation center had been moved to Bear Creek High School.

Jeffco Sheriff personnel conducted door-to-door evacuations.

According to the sheriff’s office, West Metro Fire and Air Support arrived on the scene to assist in the effort. Douglas County lends its helicopter to the effort.

West Metro Fire said the area was difficult to access, three fire crews with hand tools were forced to walk to the fire.

Authorities also say Highway 8, Snowcreek Lane and Tiger Bend Lane are closed.

Waiting for the last bitcoin mile

July 11, 2022

Montana Lending

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Bitcoin rose 12.6% to end near $21,600 but rebounded from gains in the $20,500 area early in the day, registering a decline of 3.9% in the past 24 hours. Ethereum essentially copies the momentum of the first cryptocurrency, losing 3.8% in 24 hours to $1150. The top 10 altcoins are losing between 2.4% (BNB) and 5.5% (Solana).

The total crypto market cap, according to CoinMarketCap, rose 5.8% over the week to $916 billion. Bitcoin’s dominance index climbed 0.6% to 42.8% over the same period.

The Cryptocurrency Fear and Greed Index rose 13 points for the week to 24, but fell 2 points on Monday and remains in “extreme fear”.

BTC’s rise last week was halted by the 200-week moving average, now rising near $22,500. Bitcoin continued to move sideways for three weeks near the critical $20,000 level, the previous cycle high.

BTC has never fallen below these levels before, so it now has support from buyers confident in the long-term growth of the premier cryptocurrency. Another supporting factor was the rebound in financial markets, where the new semester was greeted by increased buying.

However, as always in recent months, many questions remain about the sustainability of the rebound in the context of a sharp increase in interest rates by the Fed and an economic slowdown.

Rockefeller International Managing Director Ruchir Sharma believes that the deleveraging process is not over and that BTC could fall further over the next six months as the stock market declines.

Galaxy Digital CEO Michael Novogratz says the decline in the cryptocurrency market is about to be over. However, there may be a final “tug” of the bears shortly. He pointed out that he doesn’t believe BTC will fall to $13,000.

Cryptocurrency lending service Celsius has transferred 25,000 wBTC tokens worth $528 million to the FTX exchange. The market fears that Celsius will sell off the tokens and drive down the bitcoin exchange rate. According to Arkham, Celsius lost $390 million in client funds on investments in DeFi and NFT.

Nobuaki Kobayashi, the trustee of the bankrupt Mt.Gox exchange, has begun preparations to repay creditors. The situation in the market could worsen if 150,000 BTC were distributed to MtGox users and immediately flooded the market.

The US Federal Deposit Insurance Corporation (FDIC) is investigating Voyager Digital. According to the agency, the cryptocurrency broker misled users by claiming that their assets were protected by the agency’s program.

This article was written by FxProAlex Kuptsikevich, Senior Market Analyst.

Commerce Bancshares (NASDAQ:CBSH) and M&T Bank (NYSE:MTB)

July 9, 2022

Montana Lending

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M&T Bank (NYSE: MTBGet a rating) and Commerce Bancshares (NASDAQ: CBSHGet a rating) are both finance companies, but which company is better? We will compare the two companies based on the strength of their profitability, institutional ownership, analyst recommendations, risk, dividends, earnings and valuation.

Dividends

M&T Bank pays an annual dividend of $4.80 per share and has a dividend yield of 3.0%. Commerce Bancshares pays an annual dividend of $1.06 per share and has a dividend yield of 1.6%. M&T Bank pays 36.7% of its profits as a dividend. Commerce Bancshares pays 25.1% of its profits as a dividend. Both companies have healthy payout ratios and should be able to cover their dividend payments with earnings over the next few years. M&T Bank increased its dividend for 1 consecutive year and Commerce Bancshares increased its dividend for 1 consecutive year.

Analyst Notes

This is a breakdown of recent ratings and target prices for M&T Bank and Commerce Bancshares, as reported by MarketBeat.

Sales Ratings Hold odds Buy reviews Strong buy odds Rating
M&T Bank 0 6 seven 0 2.54
Bancshares Trading 1 2 0 0 1.67

M&T Bank currently has a consensus price target of $193.31, suggesting a potential upside of 21.64%. Commerce Bancshares has a consensus price target of $66.62, suggesting a potential downside of 0.77%. Given M&T Bank’s stronger consensus rating and higher likely upside, equity research analysts clearly believe that M&T Bank is more favorable than Commerce Bancshares.

Risk and Volatility

M&T Bank has a beta of 0.89, indicating that its stock price is 11% less volatile than the S&P 500. In comparison, Commerce Bancshares has a beta of 0.81, indicating that its stock price stock is 19% less volatile than the S&P 500.

Profitability

This table compares the net margins, return on equity and return on assets of M&T Bank and Commerce Bancshares.

Net margins Return on equity return on assets
M&T Bank 29.31% 11.45% 1.20%
Bancshares Trading 36.83% 15.45% 1.48%

Benefits and evaluation

This table compares revenue, earnings per share and valuation of M&T Bank and Commerce Bancshares.

Gross revenue Price/sales ratio Net revenue Earnings per share Price/earnings ratio
M&T Bank $6.11 billion 4.67 $1.86 billion $13.09 12.14
Bancshares Trading $1.41 billion 5.75 $530.77 million $4.22 15.89

M&T Bank has higher revenue and profit than Commerce Bancshares. M&T Bank trades at a lower price-to-earnings ratio than Commerce Bancshares, indicating that it is currently the more affordable of the two stocks.

Insider and Institutional Ownership

87.6% of M&T Bank shares are held by institutional investors. Comparatively, 67.9% of Commerce Bancshares shares are held by institutional investors. 0.7% of M&T Bank shares are held by insiders of the company. Comparatively, 3.2% of Commerce Bancshares shares are held by company insiders. Strong institutional ownership indicates that large fund managers, endowments, and hedge funds believe a stock is poised for long-term growth.

Summary

M&T Bank beats Commerce Bancshares on 9 out of 16 factors compared between the two stocks.

About M&T Bank (Get a rating)

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The Company’s Business Banking segment provides deposit, lending, cash management and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial loans and leases, letters of credit and cash management services to medium and large commercial enterprises. The Company’s commercial real estate segment originates, sells and services commercial real estate loans; and offers deposit services. Its discretionary portfolio segment provides deposits; securities, residential real estate loans and other assets; and short-term and long-term borrowed funds, as well as foreign exchange services. The Company’s Residential Mortgage Banking segment offers residential real estate loans to consumers and sells these loans in the secondary market; and purchases service rights on loans issued by other entities. Its Retail Banking segment offers current, savings and term accounts; consumer installment loans, auto and recreational finance loans, home equity loans and lines of credit, and credit cards; mutual funds and annuities; and other services. The company also offers fiduciary management and wealth management services; trustee and custodian; Insurance Agency; institutional brokerage and securities; and investment management services. It offers its services through bank offices, business banking centers, telephone and internet banking, and automated banking machines. As of December 31, 2021, the company operated 688 national banking offices in New York State, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia, and the District of Columbia; and a full-service commercial banking office in Ontario, Canada. M&T Bank Corporation was founded in 1856 and is headquartered in Buffalo, New York.

About Commerce Bancshares (Get a rating)

Bancshares Trade LogoCommerce Bancshares, Inc. operates as a banking holding company for Commerce Bank which provides retail banking, mortgage banking, corporate, investment, trust and asset management products and services to individuals and to businesses in the United States. It operates through three segments: Consumer, Commercial and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed and revolving, and other consumer loans; patient health care funding; real estate loans; indirect financing and other consumer financing; personal mortgage banking services; consumer installment loans; and consumer credit and debit cards. The Commercial segment provides business lending, leasing, international, business and commercial bank cards, securities custody and bond accounting; and commercial products, government deposits and related commercial cash management services, as well as the sale of fixed income securities to correspondent banks, corporations, public institutions, municipalities and individuals. The Wealth segment offers traditional trust and estate planning, advisory and discretionary investment portfolio management, brokerage, and private banking accounts. The Company also offers private equity investment, securities brokerage, insurance agency, specialty lending and leasing services, as well as online and mobile banking. It operates through a network of 287 locations in Missouri, Kansas, Illinois, Oklahoma and Colorado, as well as sales offices. Commerce Bancshares, Inc. was founded in 1865 and is headquartered in Kansas City, Missouri.



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Loan tree data breach, sensitive information potentially leaked in hack • LegalScoops

July 8, 2022

Montana Lending

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On June 29, 2022, Lending Tree, LLC, an online lending marketplace based in Charlotte, North Carolina, reported a data breach to the Montana Attorney General’s office.

According to the company’s data breach notice, between mid-February 2022 and sometime in June 2022, “a code vulnerability likely resulted in the unauthorized disclosure of certain sensitive personal information.”

Lending Tree discovered the “vulnerability” on June 3, 2022. He appears to have started notifying those affected on June 29, 2022.

In its data breach notice loan tree, it is stated that “the vulnerability in the code no longer exists”.

Sensitive personal information that may have been accessed or acquired includes full names, dates of birth, mailing address and social security numbers (SSN).

Lending Tree’s advisory provides no explanation of what it means by “code vulnerability”, how its data was taken or by whom. The media reported that the data is now freely available on the Internet, but, according to this report, Lending Tree denied that the data circulating online came from the company.

The full data breach notice provided to the Attorney General of Montana may be viewed here.

Lending Tree is offering affected individuals two years of free identity monitoring services through IdentityForce. The registration deadline for IdentityForce services is 90 days from the date of the letter.

For a free privacy consultation, fill out the form below or call us at 1-844-BREACH8 (1-844-273-2248).

Special California Laws Protect You

California has laws that specifically protect your personal information.

  • The California Customer Records Act(CCRA) requires businesses to implement and maintain reasonable security procedures and practices to protect consumers’ personal information. Companies must also notify affected California consumers promptly and without unreasonable delay.
  • The California Consumer Privacy Act (CCPA) contains numerous protections for the personal information of California residents, including implementing and maintaining reasonable security procedures.

If certain types of personal information, such as social security numbers and names, are not encrypted and are accessed, stolen, or hacked because a company has failed to meet its obligation to implement and maintain reasonable security concerns, an affected California resident may sue to protect their rights under the CCPA and the CCRA.

If you are a California resident and received a recent data breach notice from Lending Tree, you may be entitled to between $100 and $750 or your actual damages, whichever is greater.

Participants in Data Breach Lawsuits May Obtain Damages, an injunction (to ensure that the company has reasonable security practices in place to prevent further disclosure of consumer data) and any other action the court deems necessary to compensate data breach victims and prevent that this damage does not reoccur.

For free information about your legal right to claim compensation, fill out the form below or call us at 1-844-BREACH8 (1-844-273-2248).

Two years of identity theft services may not be enough

▸ Electronic personal data does not degrade

It’s a sad reality that cybercrimes are an attractive target for hackers: data can be bought and sold anonymously, and the going rate is around $20 per record depending on the type of information, according to the Privacy Affairs Dark Web Index 2021.

Some types of critical personal information — like social security numbers, names, and birth dates — are impossible, or nearly impossible, to change.

Thieves can choose to wait years before capitalizing on compromised personal data. The longer cyber thieves can go unnoticed, the more they profit from their illegal activities.

It pays to know what credit monitoring services can do for you

It is important to understand the benefits and limitations of any spoofing service. Not all credit monitoring and identity theft services offer the same protections or cover the same duration.

Before signing up for a credit monitoring service, here are some helpful questions to ask:

  • Does this service offer dark web monitoring?
  • Does the service monitor the three major credit bureaus on my behalf? (for example, the IdentityForce service described in the data breach notice offers a one-stop credit monitoring bureau)
  • Does the service come with insurance to cover any immediate financial loss I may incur as a result of this data breach? What proof of claim do I need to present? How am I reimbursed?
  • What if I have financial losses after the service expires?
  • Does this service help with fraudulently filed tax returns? Medical identity theft?
  • What exactly will the service do for me if my personal information is sold on the dark web?
  • Can the service prevent fraudulent charges from being made to my credit cards? Will they reimburse me if fraudulent charges are made?

Compromised SSNs can be a complicated problem

  1. A hacker with your SSN can use it to get other personal information about you.
  2. Identity thieves can use your SSN and name to apply for credit under your name. When new credit cards are used by thieves and they don’t pay, it hurts your credit. You may not know about the scam until creditors start contacting you for non-payment of the thief’s bills, or you are denied credit.
  3. Stolen SSNs can be used to fraudulently file taxes, apply for jobs, and receive other government benefits.

“Remember that a new [SSN] probably won’t solve all your problems. This is because other government agencies (such as the IRS and state motor vehicle agencies) and private businesses (such as banks and credit reporting companies) will have records under your old number.

Along with other personal information, credit reporting companies use the number to identify your credit file. So using a new number will not guarantee you a fresh start. This is especially true if your other personal information, such as your name and address, remains the same. » (Social Security Administration Publication No. 05-10064 July 2021.)

Once you know that your personal data has been disclosed, it is reasonable to take steps to avoid fears that your data will be used to cause you significant financial loss.

Compromised data also increases the risk of hacking, phishing, and increased anxiety about future loss and identity theft.

Personal data is extremely valuable, both for businesses and for criminals who want to sell this information on the dark web to identity thieves and other black marketers.

However, “it is clear that many organizations need to hone their security skills, training, practices and procedures to properly protect consumers.”[1] The stakes are high: data breach victims are more likely to also be victims of further fraud.[2]

We can help you exercise your legal rights

Experimented data breach and class action lawyers can help you exercise your rights, assess your options and decide if you are entitled to compensation under the CCPA and the CCRA.

There are no disbursements to you, because we only get paid if we win.

Confidential • Free of charge • No obligation

For free information on your legal right to claim compensation, complete the form below or call us on 1-844-BREACH8 (1-844-273-2248).

Free Privacy Consultation

[1] Source: K. Harris, Former Attorney General, California DOJ, California Data Breach Report 2012-2015 (2016).

[2] Same

‘Mat Kilau’ producer admits mistake in not mentioning Finas, Ministry of Communications

July 6, 2022

Montana Lending

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The cast and crew of ‘Mat Kilau: Kebangkitan Pahlawan’ during a press conference. – Photo via Instagram/Filem_matkilau

KUALA LUMPUR (July 6): A dispute has emerged between the National Film Development Corporation Malaysia (Finas) and the makers of popular film Mat Kilau: Kebangkitan Pahlawan.

Finas claimed that there was a breach of an agreement because Studio Kembara (the filmmakers) failed to give proper credit to Finas and the Ministry of Communications and Multimedia in a few media related to the film, the producer of the film now admitting the error.

Abdul Rahman Mt Dali said Berita Harian that the mistake was accidental and reckless.

He admitted that as a newcomer to the local film industry, the company was still not used to handling promotional materials with the credits list.

“It happened because we neglected it. All of our credit-related matters were outsourced to a third party.

“We didn’t know we hadn’t included the Finas logo in the film’s credits until the day of the premiere recently.

“The errors also came from us not properly checking the film before its release,” Abdul Rahman said.

The 62-year-old also said the company had submitted a letter to Finas apologizing for the incident and looking forward to meeting with Finas representatives.

He also said there was no conflict between the two sides

Previously it was reported by Berita Harian that Finas had asked his lawyers to review his credit agreement with Studio Kembara.

According to Finas Managing Director Prof. Mohd Nasir Ibrahim, they found that Studio Kembara had not given the film proper credit as per their agreement.

He said the producers did not include Finas’ logo in their print materials for the film, even though it was stated in the deal.

“Other than that, (our) credits on the film’s credits were only added seven days after Mat Kilau: Kebangkitan Pahlawan was shown in cinemas.

“This is clearly a breach of contract that has already been agreed and corrected by both parties,” he said.

Nasir also pointed out that Finas had provided RM1.5 million through the Digital Content Fund (DKD) to the film producers so that they could revive the RM8 million budget film which was previously scrapped.

“Besides DKD, Finas had also provided them with marketing fund worth RM300,000 in addition to lending our post-production studio to Studio Mixtage, Kompleks Studio Merdeka worth RM180,000 for free,” did he declare.

Nasir added that Finas was surprised when the film’s producers half-heartedly apologized for their breach of contract and even blamed Finas for not telling them about their credit deal.

Apart from this, commenting on Datuk Adi Putra’s performance as a prominent Malay warrior, Mat Kilau, in the film, Nasir said that more holistic research is needed whenever a historical figure is involved in a film. .

“The character, his looks, his accent, his walking style and his silat, everything has to be studied. For example in Gandhi’s film (1982), the actor studied and lived like the character.

“The actor put in all this effort to be able to portray Gandhi as the way Indian citizens see the figure,” Nasir said referring to Sir Ben Kingsley’s acting efforts in the 1982 Hollywood biopic.

Critics had arisen regarding Adi’s portrayal of the title character.

However, Nasir, in a press release shared on Finas’ Facebook page, also took the opportunity to congratulate the success of the film, while emphasizing that the success is proof of the resilience of local films to overcome challenges. of the Covid-19 pandemic.

“We at Finas hope the growing support for this film can spark more interest in other local films.

“We also hope it will encourage local filmmakers to produce more quality works that could penetrate local and international markets,” Nasir said in the press release.

Berita Harian also reported that Mat Kilau: Kebangkitan Pahlawan is now Malaysia’s highest-grossing film after collecting RM51.8 million in ticket sales, beating the previous record holder, 2018’s Munafik 2 which collected RM48 million. RM.

The film Syamsul Yusof is a historical action drama set in the late 19th century during the British administration in Malaysia.

The film stars Datuk Adi Putra as the legendary Malay warrior, Mat Kilau, along with Beto Kusyairi, Fattah Amin, Yayan Ruhan and Johan As’ari as well as Indonesian action star, Yayan Ruhian. – Malaysian Mail






Stocks to watch today: RIL, HDFC, Birlasoft, IndiGo, Coal India, IT stocks

July 4, 2022

Montana Lending

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Stocks to watch today: Markets are likely to start trading on a lukewarm note and then look to key index heavyweights for directional movement given the news flow at most counters. At 07:00, SGX Nifty futures were quoted at 15,700, indicating an opening loss of around 50 points.

Meanwhile, the following stocks should see action in trading on Monday.


Metals, Oil producers: The recently announced special tax on exports of steel, iron ore and petroleum products, as well as a windfall tax on crude oil producers are expected to affect overall corporate profits in FY23 Mining and metals and crude oil producers – such as Tata Steel, JSW Steel, Vedanta, Hindalco, ONGC and Reliance Industries – led corporate earnings growth in FY22 and any decline in their earnings due to regulatory changes is likely to lower earnings for FY23. READ THE ANALYSIS


InterGlobe Aviation (IndiGo): More than half of flights operated by IndiGo were delayed on Saturday after a large number of the airline’s cabin crew members called in sick at the last moment, amid a massive recruitment drive by competitors Air India, Jet and Akasa owned by Tata. READ MORE


Reliance Industries (RIL): RIL’s institutional shareholders are awaiting major announcements from the company, including a timetable for the listing of its telecommunications and retail subsidiaries. They expect that to unlock value for the company, which saw a sharp drop in market valuation on Friday. READ MORE


IT inventory: Amid fears of a likely recession in the United States and Europe and rising inflation around the world, first-quarter FY23 results in India’s IT services sector will be closely watched for management comments on demand outlook. With supply-side challenges yet to be resolved, margins will be under pressure due to higher retention costs and shifts. However, the silver lining might be a rupee down. READ THE ANALYSIS


HDFC, HDFC Bank: HDFC’s proposed merger with its banking subsidiary HDFC Bank, the largest transaction in Indian corporate history, has received stock exchange approval. The merger still requires a series of approvals from financial industry regulators, including RBI and CCI, before being passed to NCLT and shareholders. READ MORE


Birlasoft: The company has set July 15 as the record date for the proposed takeover worth Rs 390 crore. The company’s board had approved the buyback of up to 78 lakh shares at Rs 500 each. The stock last traded at Rs 350.


Bharat’s Forge: The auto parts maker and its subsidiary BF Industrial Solutions have successfully completed the acquisition of Coimbatore-based JS Autocast Foundry India. The enterprise value of the transaction was Rs 489.63 crore.


Coal India (CIL): The state-owned company said its coal production rose 29 percent year-on-year to a record 159.8 MT in April-June this fiscal year. CIL supplied an average of 1.684 MT of coal per day to the electricity sector during the June quarter of 2022, compared to a daily requirement of 1.650 MT.


Shriram Transport Funding: Shriram Group is on track for technology integration and merger between Shriram City Union Finance Ltd (SCUF) and


State Bank of India (SBI): The public bank plans to focus more on personal and agricultural gold lending after lending over Rs 1 trillion in this segment till June 2022. The bank’s agricultural gold loan portfolio is rose to Rs 73,601 crore in FY22 from Rs 66,878 crore in FY21. READ MORE


NTPC: The company has informed BSE that its 100 megawatt (MW) floating solar PV project in Telangana is fully operational.

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Fifth Third Bancorp reduces its equity holdings in M&T Bank Co. (NYSE:MTB)

July 2, 2022

Montana Lending

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Fifth Third Bancorp reduced its stake in M&T Bank Co. (NYSE: MTBGet a rating) by 4.6% in the 1st quarter, according to its last Form 13F filed with the Securities & Exchange Commission. The institutional investor held 37,439 shares of the financial services provider after selling 1,805 shares during the quarter. Fifth Third Bancorp’s holdings in M&T Bank were worth $6,346,000 at the end of the last quarter.

Several other large investors have also recently changed their holdings in the company. Commerce Bank increased its position in M&T Bank shares by 1.2% during the 4th quarter. Commerce Bank now owns 4,979 shares of the financial services provider valued at $765,000 after buying 57 additional shares during the period. Bradley Foster & Sargent Inc. CT increased its position in M&T Bank shares by 2.1% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 2,774 shares of the financial services provider valued at $426,000 after purchasing 58 additional shares during the period. Mercer Global Advisors Inc. ADV increased its position in M&T Bank shares by 1.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 4,931 shares of the financial services provider valued at $757,000 after purchasing an additional 62 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its position in M&T Bank shares by 1.9% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 3,376 shares of the financial services provider valued at $518,000 after buying 63 additional shares during the period. Finally, Wedbush Securities Inc. increased its position in M&T Bank shares by 3.9% during the 4th quarter. Wedbush Securities Inc. now owns 1,859 shares of the financial services provider valued at $286,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds hold 87.61% of the company’s shares.

Separately, Executive Vice President Robert J. Bojdak sold 525 shares of the company in a transaction dated Wednesday, June 8. The stock was sold at an average price of $177.82, for a total transaction of $93,355.50. Following the transaction, the executive vice president now directly owns 19,075 shares of the company, valued at $3,391,916.50. The sale was disclosed in a filing with the Securities & Exchange Commission, available at this hyperlink. Additionally, Vice Chairman Kevin J. Pearson sold 5,000 shares of the company in a trade dated Tuesday, May 17. The shares were sold at an average price of $169.71, for a total value of $848,550.00. Following the transaction, the insider now owns 39,008 shares of the company, valued at $6,620,047.68. Disclosure of this sale can be found here. Insiders sold a total of 7,725 shares of the company valued at $1,335,332 over the past three months. 0.73% of the shares are held by insiders.

Shares of NYSE: MTB opened at $159.71 on Friday. M&T Bank Co. has a fifty-two-week low of $128.46 and a fifty-two-week high of $186.95. The company has a 50-day moving average of $168.99 and a two-hundred-day moving average of $170.33. The stock has a market capitalization of $28.65 billion, a P/E ratio of 12.20, a P/E/G ratio of 0.96 and a beta of 0.86. The company has a debt ratio of 0.21, a current ratio of 1.05 and a quick ratio of 1.05.

M&T Bank (NYSE: MTBGet a rating) last released its quarterly earnings data on Wednesday, April 20. The financial services provider reported earnings per share of $2.73 for the quarter, beating the consensus estimate of $2.26 by $0.47. M&T Bank had a return on equity of 11.45% and a net margin of 29.31%. The company posted revenue of $1.45 billion in the quarter, versus $1.43 billion expected by analysts. In the same quarter of the previous year, the company achieved EPS of $3.41. As a group, research analysts expect M&T Bank Co. to post EPS of 14.11 for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30. Investors of record on Wednesday, June 1 received a dividend of $1.20 per share. The ex-dividend date was Tuesday, May 31. This represents an annualized dividend of $4.80 and a dividend yield of 3.01%. M&T Bank’s dividend payout ratio is currently 36.67%.

A number of stock analysts have recently released reports on MTB shares. Deutsche Bank Aktiengesellschaft raised its price target on M&T Bank from $180.00 to $200.00 in a Friday, March 25 report. Robert W. Baird upgraded M&T Bank from a “neutral” rating to an “outperforming” rating and raised its share price target from $175.00 to $200.00 in a Friday, June 17 report. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a Friday, June 10 report. JPMorgan Chase & Co. cut its target price on M&T Bank from $200.00 to $195.00 and set a “neutral” rating on the stock in a report released Friday. Finally, Piper Sandler raised her price target on M&T Bank from $200.00 to $210.00 in a Wednesday, April 20 report. Seven equity research analysts gave the stock a hold rating and eight gave the company a buy rating. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $193.31.

M&T Bank Company Profile (Get a rating)

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The Company’s Business Banking segment provides deposit, lending, cash management and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial loans and leases, letters of credit and cash management services to medium and large commercial enterprises.

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Institutional ownership by quarter for M&T Bank (NYSE:MTB)



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Metal Tiger plc UK Regulatory Announcement: Sandfire – 147 Mt of Mineral Resources provide solid foundation for MATSA’s long-term optimization and growth

June 30, 2022

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LONDON–(BUSINESS WIRE)–

June 30, 2022

Metal Tiger plc

(“Metal Tiger” or the “Company”)

Sandfire – 147Mt Mineral Resource lays solid foundation for MATSA’s long-term optimization and growth

Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed investor in natural resource opportunities, is pleased to announce that Sandfire Resources Ltd (“Sandfire”) has published an updated estimate of the Measured, Indicated and Inferred Mineral Resources for the MATSA mining operations, located in the Iberian Pyrite Belt in southern Spain, totaling 147.2 Mt grading 1.4% Cu, 3.0% Zn, 1.0% Pb and 39.6 g/t Ag containing approximately 2.1 Mt copper, 4.4 Mt zinc, 1.5 Mt lead and 187.6Moz silver.

Metal Tiger is interested in 7,087,057 Sandfire shares representing approximately 1.72% of the issued share capital of Sandfire. As previously announced, 2,842,667 of the Sandfire shares held by the Company are subject to an equity derivative financing agreement with a global investment bank.

A link to Sandfire’s MATSA Copper Operations site visit information pack, released today, is shown below:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02536902-6A1097705?access_token=83ff96335c2d45a094df02a206a39ff4

A link to the Sandfire release, announced today, is shown below:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02536659-6A1097631?access_token=83ff96335c2d45a094df02a206a39ff4

For more information about the Company, visit www.metaltigerplc.com:

Michel McNeilly

(Chief executive officer)

Tel: +44 (0)20 3287 5349

Mark Potier

(Investment Director)

James Dance

James Harris

charlie hammond

Strand Hanson Limited (appointed adviser)

Tel +44 (0)20 7409 3494

Steve Douglas

Simon Johnson

Arden Partners plc (Broker)

Tel: +44 (0)20 7614 5900

Gordon Pool

James Crothers

Rebecca Waterworth

Camarco (financial PR)

Tel: +44 (0)20 3757 4980

Notes to editors:

Metal Tiger PLC is listed on the AIM Market of the London Stock Exchange AIM Market (“AIM”) and the ASX Market of the Australian Securities Exchange Market (“ASX”) with the trading code MTR and invests in mining projects high potential with a focus on base, precious and strategic metals.

The Company’s objective is to provide a high return to shareholders by investing in largely undervalued and/or high potential opportunities in the mining exploration and development sector.

Equity investments invests in undervalued natural resource companies. The majority of its investments are listed on AIM, TSX and ASX, including its stake in Sandfire Resources Limited (ASX:SFR). The Company also considers selective opportunities to invest in private natural resource companies, generally where there is an identifiable path to IPO.

The Company actively evaluates new investment opportunities on an ongoing basis and has access to a diversified portfolio of new opportunities in the natural resources and mining sectors. For pipeline opportunities deemed sufficiently attractive, Metal Tiger may invest in the project or entity by purchasing publicly traded equity, private financing and/or entering into a joint venture.

Category Code: MSCU

Sequence number: 918519

Received time (offset from UTC): 20220630T091517+0100

IBM Retirement Fund holds $348,000 position in M&T Bank Co. (NYSE:MTB)

June 28, 2022

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IBM Retirement Fund reduced its position in shares of M&T Bank Co. (NYSE: MTBGet a rating) by 3.8% in the first quarter, HoldingsChannel.com reports. The company held 2,055 shares of the financial services provider after selling 81 shares during the quarter. IBM Retirement Fund’s holdings in M&T Bank were worth $348,000 at the end of the last quarter.

Other institutional investors have also recently increased or reduced their stake in the company. Yousif Capital Management LLC acquired a new stake in shares of M&T Bank during the fourth quarter at a value of $3,343,000. UMB Bank NA MO acquired a new position in M&T Bank in the fourth quarter worth $49,000. NuWave Investment Management LLC acquired a new position in M&T Bank in the first quarter worth $47,000. Thrivent Financial for Lutherans increased its stake in M&T Bank by 7,874.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 450,790 shares of the financial services provider valued at $69,233,000 after purchasing an additional 445,137 shares during the period. Finally, Desjardins International Asset Management Inc. acquired a new position in M&T Bank in the fourth quarter worth $1,831,000. Hedge funds and other institutional investors own 87.61% of the company’s shares.

Separately, Executive Vice President Robert J. Bojdak sold 525 shares of the company in a trade on Wednesday, June 8. The shares were sold at an average price of $177.82, for a total transaction of $93,355.50. Following the completion of the transaction, the executive vice president now directly owns 19,075 shares of the company, valued at approximately $3,391,916.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC website. Additionally, Executive Vice President Christopher E. Kay sold 2,200 shares in a trade on Friday, June 3. The stock was sold at an average price of $178.83, for a total value of $393,426.00. Following the completion of the sale, the executive vice president now owns 5,350 shares of the company, valued at approximately $956,740.50. Disclosure of this sale can be found here. Insiders sold a total of 7,725 shares of the company worth $1,335,332 in the past 90 days. 0.73% of the shares are currently held by insiders.

MTB opened at $164.42 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt ratio of 0.21. The stock has a market capitalization of $29.50 billion, a price-earnings ratio of 12.56, a PEG ratio of 0.96 and a beta of 0.86. M&T Bank Co. has a 12-month low of $128.46 and a 12-month high of $186.95. The company’s 50-day moving average price is $169.87 and its two-hundred-day moving average price is $170.28.

M&T Bank (NYSE: MTBGet a rating) last reported results on Wednesday, April 20. The financial services provider reported earnings per share of $2.73 for the quarter, beating analyst consensus estimates of $2.26 by $0.47. The company posted revenue of $1.45 billion for the quarter, compared to $1.43 billion for analysts. M&T Bank posted a net margin of 29.31% and a return on equity of 11.45%. In the same period a year earlier, the company earned earnings per share of $3.41. As a group, sell-side analysts expect M&T Bank Co. to post earnings per share of 14.11 for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30. Investors of record on Wednesday, June 1 will receive a dividend of $1.20 per share. This represents a dividend of $4.80 on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Tuesday, May 31. M&T Bank’s payout ratio is currently 36.67%.

Several stock analysts have recently released reports on the stock. Wedbush raised its price target on M&T Bank shares from $187.00 to $212.00 in a Thursday, April 21 report. Robert W. Baird upgraded M&T Bank shares from a “neutral” rating to an “outperforming” rating and raised his target price for the company from $175.00 to $200.00 in a Friday, June 17 report . Piper Sandler raised her price target on M&T Bank shares from $200.00 to $210.00 in a Wednesday, April 20 report. StockNews.com upgraded M&T Bank shares from a “sell” rating to a “hold” rating in a Friday, June 10 report. Finally, Wells Fargo & Company raised its price target on M&T Bank shares from $180.00 to $195.00 and gave the company an “equal weight” rating in a Thursday, April 21 report. Seven investment analysts gave the stock a hold rating and eight gave the stock a buy rating. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $194.62.

M&T Bank Profile (Get a rating)

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The Company’s Business Banking segment provides deposit, lending, cash management and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial loans and leases, letters of credit and cash management services to medium and large commercial enterprises.

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Institutional ownership by quarter for M&T Bank (NYSE:MTB)



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President of M&T Bank Corporation – GuruFocus.com

June 26, 2022

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BUFFALO, NY, June 16, 2022 /PRNewswire/ — Richard (“Rich”) Goldpresident and chief operating officer of M&T Bank Corporation (NYSE: MTB), announced his intention to retire, effective in the first quarter of 2023. Gold plans to remain on the board of directors of M&T Bank.

“It’s hard to overstate Rich’s impact on our business,” said Rene Jones, president and CEO of M&T. “It has been his life’s work to instill and perpetuate a culture that we are all proud of, a culture that allows us to function with a sense of purpose and to feel that we are part of something bigger. This focus on culture, coupled with an acute ability to identify and cultivate leaders, has provided us with an exceptional talent base to pursue our purpose and continue to make a difference in people’s lives.”

After joining the bank in 1989, Gold held senior positions in retail banking, corporate banking, mortgages, consumer loans and marketing. In 2014, he was named Vice President and assumed the role of Chief Risk Officer. In 2017, he was named president and chief operating officer, the culmination of a five-decade career in which the bank has grown exponentially, expanding its footprint to include 12 states and the District of Colombia.

Prior to joining M&T, Gold held positions in cash management and operations at Bankers Trust Company, and in marketing and product development at Citibank. He obtained a Bachelor of Science from Cornell University School of Industrial and Labor Relations and a Masters in Business Administration from New York University Stern School of Business.

Gold has long been committed to supporting both the Western New York community and the banking sector in general. He currently sits on the boards of the Westminster Foundation, the Buffalo Niagara Partnership and the Consumer Bankers Association, and has previously served on the boards of the United Way of Buffalo and Erie County, Shea’s Performing Arts Center and Buffalo Seminary. He also serves on the Dean’s Advisory Council at the University at Buffalo School of Management, where he is an Adjunct Professor, teaching Organizational Behavior Management.

About M&T

M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T’s principal banking subsidiary, M&T Bank, provides banking products and services in 12 states in the northeastern United States, from Maine at Virginia and washington d.c. Trust-related services are provided in certain markets in the United States and abroad by affiliates of M&T’s Wilmington Trust and M&T Bank. For more information about M&T Bank, visit www.mtb.com.

Media Contact:
Maya Dillon
(646) 735-1958
[email protected]

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NuWave Investment Management LLC takes $47,000 position in M&T Bank Co. (NYSE: MTB)

June 24, 2022

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NuWave Investment Management LLC has purchased a new stake in the shares of M&T Bank Co. (NYSE: MTBGet a rating) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The company bought 279 shares of the financial services provider, valued at around $47,000.

Several other large investors also bought and sold shares of MTB. CVA Family Office LLC acquired a new stake in M&T Bank stock during Q4 valued at approximately $31,000. Widmann Financial Services Inc. acquired a new stake in M&T Bank in Q4 worth approximately $37,000. UMB Bank NA MO acquired a new stake in M&T Bank in Q4 worth approximately $49,000. Lindbrook Capital LLC increased its holdings in M&T Bank by 39.2% in the fourth quarter. Lindbrook Capital LLC now owns 355 shares of the financial services provider worth $55,000 after buying an additional 100 shares in the last quarter. Finally, Covestor Ltd acquired a new stake in M&T Bank in Q4 worth approximately $55,000. Hedge funds and other institutional investors own 87.61% of the company’s shares.

Several equity research analysts have recently released reports on MTB shares. Goldman Sachs Group raised its price target on M&T Bank from $183.00 to $210.00 and gave the stock a “neutral” rating in a Monday, April 4 report. Wolfe Research lowered its price target on M&T Bank from $214.00 to $187.00 and set an “outperform” rating on the stock in a Thursday, May 26 report. JPMorgan Chase & Co. launched a hedge on M&T Bank in a Thursday, April 14 report. They issued a “neutral” rating on the title. Citigroup launched coverage on M&T Bank shares in a research note on Thursday, March 24. They issued a “buy” rating on the stock. To finish, StockNews.com upgraded M&T Bank shares from a “sell” to a “hold” rating in a Friday, June 10 research note. Seven research analysts have rated the stock with a hold rating and eight have assigned the stock a buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $194.62.

MTB stock opened at $159.64 on Friday. The company has a market capitalization of $28.64 billion, a PE ratio of 12.20, a PEG ratio of 0.95 and a beta of 0.86. The company has a debt ratio of 0.21, a quick ratio of 1.05 and a current ratio of 1.05. The company’s 50-day moving average price is $169.63 and its 200-day moving average price is $169.84. M&T Bank Co. has a one-year low of $128.46 and a one-year high of $186.95.

M&T Bank (NYSE: MTBGet a rating) last released its quarterly results on Wednesday, April 20. The financial services provider reported EPS of $2.73 for the quarter, beating the consensus estimate of $2.26 by $0.47. The company posted revenue of $1.45 billion for the quarter, compared to analysts’ estimates of $1.43 billion. M&T Bank posted a net margin of 29.31% and a return on equity of 11.45%. In the same quarter of the previous year, the company achieved EPS of $3.41. Equity research analysts expect M&T Bank Co. to post EPS of 14.11 for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30. Shareholders of record on Wednesday, June 1 will receive a dividend of $1.20. This represents a dividend of $4.80 on an annualized basis and a yield of 3.01%. The ex-dividend date is Tuesday, May 31. M&T Bank’s payout ratio is 36.67%.

In other M&T Bank news, Vice Chairman Kevin J. Pearson sold 5,000 shares of the company in a trade that took place on Tuesday, May 17. The stock was sold at an average price of $169.71, for a total value of $848,550.00. Following the sale, the insider now owns 39,008 shares of the company, valued at $6,620,047.68. The sale was disclosed in a filing with the SEC, accessible via the SEC website. Also, VPE Robert J. Bojdak sold 525 shares of the company in a transaction that took place on Wednesday, June 8. The shares were sold at an average price of $177.82, for a total value of $93,355.50. Following the completion of the sale, the executive vice president now directly owns 19,075 shares of the company, valued at approximately $3,391,916.50. Disclosure of this sale can be found here. In the past three months, insiders have sold 7,725 shares of the company worth $1,335,332. 0.73% of the shares are held by insiders.

M&T Bank Profile (Get a rating)

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The Company’s Business Banking segment provides deposit, lending, cash management and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial loans and leases, letters of credit and cash management services to medium and large commercial enterprises.

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Institutional ownership by quarter for M&T Bank (NYSE:MTB)



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New developments aim to ease Bozeman’s affordable housing crisis

June 20, 2022

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The Perennial Park development recently opened behind Lowe’s just off North 19th Ave. (Frank Eltman/MTFP)

BOZEMAN — The first time Anna Stone met “Randy” in 2019, he was sleeping under a bridge. She recalled that he seemed to have psychological problems and was not interested in help from a stranger. Their introduction did not go well.

They met again in May 2020 when Stone, the housing case coordinator at the Human Resources Development Council, found him at a hotel for people over 65 who might be vulnerable to COVID-19.

“Randy,” who didn’t want his full name used for this story, slowly built a relationship of trust with Stone, who for two years worked with him to transition from homelessness.

Il sera bientôt le dernier résident à emménager dans un nouveau lotissement de 96 logements fondés sur le revenu pour adultes de plus de 55 ans appelé Perennial Park. This is the last effort of those responsible to put at least a small breach in the emerging problem of affordable housing in the region.

“Knowing that last summer he was sleeping on the floor in Lindley Park and that this summer he’s going to be in an air-conditioned room with [donated]

Depuis fin avril, des camions de déménagement déchargent les affaires des nouveaux arrivants au parc Perennial, situé derrière Lowe’s juste à côté de la 19e avenue nord à Bozeman. It is part of a larger development which includes the adjacent Arrowleaf project of 136 units, which is oriented towards families.

Also on the property are what turned out to be two key components of the $69 million project needed for Seattle-based developer GMD Development to comply with city zoning regulations.

The Community Health Partners building at the entrance to the property will provide medical, dental and mental health clinics, as well as a pharmacy, to residents of the Bozeman area. On the other side, Family Promise offers early childhood learning.

Residents of Perennial Park and Arrowleaf must meet income criteria below 60% of the region’s median income: $41,760 for an individual and $59,640 for a family of four.

In a city where one-bedroom apartments typically rent for nearly $2,000, eligible residents of Perennial Park apartments pay $1,119 for a one-bedroom apartment; $1,342 for two bedrooms; and $1,551 for a three-bedroom, said HRDC associate director Tracy Menuez.

Menuez said the people who need affordable housing the most are “the people who feed Bozeman.” Elle a noté que la plus récente évaluation régionale des besoins en logement a déterminé que le comté de Gallatin avait besoin de 6 000 unités supplémentaires.

“If you want to go out to dinner, they work in the restaurant. If you want to go to the house supplies store, it is the people who work at the counter, working the floor, “she said. “My God, these are the people who teach your children.”

In addition to access to childcare and health services, the development is within walking distance of a supermarket and other retail outlets and restaurants along a busy stretch of 19th Avenue. .

“J’adore ça”, a déclaré Bonnie Budd, une brigadière scolaire à la retraite et sauveteuse qui déplaçait ses affaires d’un camion U-Haul un matin récent. “New people are moving in and I can’t wait to have a whole new life.”

Bozeman Deputy Mayor Terry Cunningham said the development was made possible through the federal Department of Housing and Urban Development’s low-income tax credit scheme. Le programme fournit des subventions fédérales aux promoteurs en échange d’une garantie qu’ils maintiendront les loyers en dessous de 60% du revenu médian de la région.

He also recognized an acute need for affordable housing in Bozeman.

“Chaque jour, vous entendez des histoires de gens qui disent:” J’adorerais être ici, c’est ma ville de prédilection et, malheureusement, le marché du logement n’est pas celui que je peux gérer. “”

Cunningham said these feelings are “heartbreaking for anyone, especially for people who care about the city”.

The city contributed $500,000 from its community housing fund to help complete the project, Cunningham said. He said the 232 units in the two developments provide affordable housing for 400 to 500 people.

“Nous perdons des logements abordables chaque fois qu’un parc de maisons mobiles est démoli, chaque fois qu’une subvention du HUD expire”, a-t-il déclaré. “So being able to say, ‘Boom, here’s 232 units that can solve the problems of 400 to 500 people’, you know, that’s huge.”

Seattle-based GMD Development partner Steve Dymoke said his firm relied exclusively on the low-income tax credit system to develop projects like the Arrowhead/Perennial Park property.

Il a déclaré que la société avait développé le projet Larkspur Commons à Bozeman il y a plusieurs années et venait récemment de clôturer son 10e projet dans le Montana. GMD has also developed affordable housing projects in Alaska, Washington and Idaho.

He said the $500,000 Bozeman donated for the Arrowhead/Perennial Park project was a key factor.

“You know, it may seem like a small percentage, but it plays an outsized role in feasibility,” he said. «Cela a vraiment conclu l’affaire, et au-delà de cela, cela signale vraiment à nos investisseurs, nos prêteurs, que la ville s’engage en quelque sorte à la soutenir financièrement. That’s a really strong vote of support.”

Dymoke praised Bozeman’s Rotherham Construction, which was responsible for building the complex. He said that despite COVID-19 challenges and supply chain issues, Rotherham “really managed to deliver on time overall. It’s really been impressive.”

Although residents are moving forward since the end of April, Dymoke said that a major opening celebration is scheduled for the site on June 8.

“If you had three wishes from the Affordable Housing Genius, this would be at the top of your wish list,” Cunningham said. “I can’t think of a project that has met so many community needs in one project. It’s really unique.

FAU Study: New England States Lead in Lawyer Discipline | Your money

June 17, 2022

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BOCA RATON Florida, June 17, 2022 (GLOBE NEWSWIRE) — The New England states of New Hampshire, Massachusetts and Vermont lead the 50 states in lawyer discipline, devoting more resources to processing and to the resolution of wrongdoing complaints, according to a study by researchers at Florida Atlantic University.

The study, published in The Quarterly Review of Economics and Finance, also found that Alabama, New York, and Missouri finished with the bottom three composite scores, respectively.

Florida ranked seventh lowest in the United States, according to the study, which found that poor lawyer discipline is an indicator of corruption but not a direct measure.

UFA researchers James McNultyPh.D., and graduate student Jason Damm, Ph.D., said states with limited discipline have less reliable and less predictable legal systems, which makes it more difficult for businesses to operate smoothly.

Researchers have also found a correlation between states committed to disciplining lawyers and long-term economic growth, although there is no direct link. They suggest that more research in this area could prove useful.

“More resources for lawyer discipline would likely improve economic growth rates for states at the bottom of our rankings,” said McNulty, professor emeritus of finance at FAU. College of Business. “Law schools in these states would also be wise to focus more on legal ethics.”

Damm earned a doctorate from FAU this year and will begin teaching at the University of Miami in the fall. He and McNulty reached their conclusions after analyzing data from 2000 to 2017.

They used the American Bar Association’s Annual Survey of Lawyer Discipline (SOLD) and developed five measures of discipline: number of complaints; number of lawyers accused of misconduct; the relationship between the number of lawyers assigned and the number of complaints; the budget for the discipline of lawyers; and workload per disciplinary lawyer.

In scoring the highest, New Hampshire had the fourth fewest complaints of the 50 states, the fourth lowest case count, and the fourth highest case count per disciplinary attorney.

Alabama’s highest ranking was 25th among indicted attorneys, and the state finished no better than No. 31 in the other four categories.

After Vermont, the states with the highest composite scores are: South Carolina; Texas; California; Hawaii; Georgia; Virginia; and Washington. The other states in the bottom 10 of the ranking were: Kentucky; Ohio; North Carolina; Indiana; Montana; and Idaho.

McNulty and Damm said they were unaware of another study that used SOLD data to assess lawyer discipline and its effect on state growth.

The researchers noted that if the states are alike in all material respects except for lawyer discipline, it is likely that lawyers struggling with ethical issues will choose to practice in the most lenient area. Additionally, companies that generate large profits through unethical practices such as racketeering, extreme pollution, and predatory lending are more likely to do business in states where there are more lawyers for defend them and who are willing to deviate from the standards governing the legal profession.

“Prosecutors are officers of justice,” according to the study. “If citizens cannot trust the people who make and enforce laws, it is more difficult for any society to function effectively.”

Paul Owers Florida Atlantic University College of Business 561-221-4090 [email protected]

Copyright 2022 GlobeNewswire, Inc.

A look back at the Colorado Avalanche’s very first game in 1995, the Stanley Cup victory in 1996

June 14, 2022

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DENVER — The Colorado Avalanche’s first-ever game of 1995 started and ended with a bang, kicking off a season that ended with the Lord Stanley Cup in the hands of all Denver’s new hockey team.

The Avs traveled to Denver via financial difficulties in Quebec City, Quebec, Canada. The Quebec Nordiques were truly a “low level team” and Comsat Entertainment (now Ascent Entertainment) purchased them on May 25, 1995. The deal was finalized on July 1 and after the Nordiques moved to Denver, the franchise was officially named the Colorado Avalanche about a month later, according to the NHL.

It rekindled enthusiasm for the city of Denver and the Colorados who had no local team to cheer on since the Colorado Rockies hockey team relocated to become the New Jersey Devils in 1982.

After the move was announced, more than 12,000 season tickets were sold in 37 days, according to the NHL.

On the evening of Oct. 6, 1995, the Avs donned their new uniforms and skated on the ice at Denver’s McNichols Sports Arena — which was torn down and rebuilt as the Pepsi Center in 2000 and renamed the Ball Arena in 2020 — for their first match. Fireworks exploded into the air in celebration, according to the Associated Press.

In its very first regular season game, the Avalanche won 3-2 against the Detroit Red Wings in front of a sold-out arena, with left winger Valeri Kamensky scoring two goals, including one near the 10th minute and another with less than four minutes left in the game. Defender Craig Wolanin scored the second goal, the AP reported.

The Vancouver SUN | October 7, 1995 (Joe Mahoney/Associated Press photo)

The puck found the net behind Avs goaltender Stephane Fiset within the first two minutes of the game, but he was “almost flawless thereafter, stopping 30 shots,” according to the AP.

“After the first goal I knew I had to close the door,” Fiset told the AP. “It’s my job, just to keep the team in the game. I knew we had a lot of time to score, so I just wanted to keep us close and give us a chance to win.

The first penalty in Avalanche history was awarded to Claude Lemieux for a high stick 42 seconds into that game, according to the AP.

READ MORE: Commerce City boy practices in full goalie gear while watching Avalanche games

After the Avs’ victory that night, NHL Commissioner Gary Bettman helped raise a banner at McNichols Sports Arena in Denver to signal the successful return of hockey to Colorado.

It “proved to be a hit with the vocal fans and Avalanche players,” the AP wrote the next day.

Headlines touted the Avs win: “Red Wings buried by Avalanche,” “Avalanche start season in Denver,” “Avalanche slide to 3-2 win with Kamensky goal in third.”

“If goalie Stephane Fiset doesn’t fade in the playoffs like he did last season, the team is a Stanley Cup threat,” wrote a Montana Standard reporter.

The players also expressed their enthusiasm to the media.

Right-winger Owen Nolan told The Gazette from Quebec that “We had good fans in Quebec, but it’s like night and day when it comes to volume. … It’s really a great motivator, especially when the guys are tired. pick us up as a team.

Avalanche Captain Joe Sakic — now Executive Vice President of Hockey Operations for the Avs — says the Red Wings caught them off guard early on.

“It was pretty important for us to knock out the first one at home, and it shows how far we’ve come,” he told The Associated Press.

The Avs fought tooth and nail throughout the regular season, acquiring big names along the way, like goaltender Patrick Roy and forward Mike Keane in December 1995.

After a season of ups and downs – but mostly ups – Denver was buzzing with excitement in May 1996 as the city’s new home team headed to the Stanley Cup Finals against the Florida Panthers.

Final tickets were the most popular items in town, The Daily Sentinel reported on May 31, adding that fans gathered outside the 16,000-seat McNichols Arena hours before tickets became available in the hope to get a seat to see the series.

VANBIESKBROUCK FITZGERALD RICCI

ED ANDRIESKI/Associated Press

Colorado Avalanche center Mike Ricci, bottom forward, falls to the ice after hitting the puck for a goal past Florida Panthers center Tom Fitzgerald, center, and goaltender John Vanbiesbrouck in the second period during the first Stanley Cup game at McNichols Sports Arena in Denver on Tuesday, June 4, 1996. (AP Photo/Ed Andrieski)

Game 1 started on June 4, 1996.

How was the series? As the AP wrote on June 11, the day after Game 4 in Miami: “The Colorado Avalanche took a long time to make quick work of the Florida Panthers.”

In a four-game sweep, the Avs clinched victory, but not before the longest playoff day of the season, when the game went to triple overtime. With 44:31 of overtime – lending to a game that from start to finish lasted four hours and 58 minutes – Game 4 is ranked as the longest scoreless contest and the third longest in the history of the final of the Stanley Cup, the AP reported.

Defender Uwe Krupp scored the game-winning goal at 4:31 of third overtime.

Team captain Sakic, also the league’s MVP that year, called the victory the greatest moment of his life. In total, he scored 18 playoff goals, nearly tying the NHL record. Of those 18, six were winners, according to the AP.

Joe Sakic holding the Stanley Cup after winning in 1996

The Daily Sentinel | June 11, 1996 (Associated Press photo)

Even the Panthers acknowledged the outstanding competition.

“There’s not a guy in the room that I’m not personally proud of,” Panthers player John Vanbiesbrouck told the AP. “The game was intense. It was an epic game.”

The Avs praised their goaltender, Roy, as an “almost royal thing” who wasn’t the loudest, strongest or fastest player, but “there’s no doubt he’s the Colorado Avalanche man,” the Daily Sentinel reported on June 11.

Sports Illustrated Colorado Avs 1996 Stanley Cup Victory

The Daily Sentinel | June 12, 1996 (Associated Press photo)

“Hockey is a dynamic sport,” Av defender Sylvain Jean Lefebvre told a reporter. “And there will be times when the other team will have it. A lot of times in those situations it’s up to the goalkeeper to reverse the momentum. It’s up to the goalkeeper to calm everybody down, to bringing everyone back to the same page. And when your keeper is Patrick Roy, when you look back and see him in the net, it’s an incredible feeling. You just know that everything is going to be okay.

As victory came in Miami, Denver’s Larimer Square erupted with horns and cheers after Krupp’s goal.

“For all of us who have been waiting to say we are the world champions of something, we can finally say it,” former Denver mayor Wellington Webb told the AP. “We are very proud of it and we are going to celebrate all aspects of it.

In a newspaper article published two days after the victory, the AP wrote that the Avalanche “did what the Broncos of the NFL and the Nuggets of the NBA could not accomplish, which the Rockies of hockey (who later moved to New Jersey) failed to approach in six seasons and what baseball’s Rockies only see in their dreams.

CORBET

RICK BOWMER/ASSOCIATED PRESS

Colorado Avalanche’s Rene Corbet hoists the Stanley Cup in the air after the Colorado Avalanche beat the Florida Panthers 1-0 in triple overtime to sweep the final 4-0 in Miami on Monday, June 10, 1996. (AP Photo/Rick Bowmer)

Excluding the first five years of major North American professional sports leagues, the Avs were only the second team to win a title in their first year, the AP reported.

Among the celebrations, first-year coach Marc Crawford paid tribute to dedicated Nordiques-turned-Avs fans in Quebec.

“I would like them to feel included in our victory,” he told the AP. “We lived in a wonderful hockey city and we were lucky to be welcomed into another. We had a beautiful house in Quebec and now we have a beautiful house in Denver.

It was a nod to a long journey crowned with the best prize in the game.

“A year ago Denver didn’t have a hockey team. Now he has a Stanley Cup,” the AP article read.

Although the Avs had successful games in subsequent regular seasons, they didn’t make a return to the Stanley Cup Finals until 2001 when the team defeated the New Jersey Devils in Game 7. .

The Avalanche are now back in contention for the Stanley Cup for the first time since 2001 as they prepare to face the Tampa Bay Lightning.

Oilers Avalanche Hockey

Jack Dempsey/AP

Colorado Avalanche goaltender Pavel Francouz skates on the ice after the team’s 4-0 win over the Edmonton Oilers in Game 2 of the Western Conference Playoff Finals of the NHL Stanley Cup on Thursday, June 2, 2022, in Denver. (AP Photo/Jack Dempsey)

Game 1 begins at 6 p.m. Wednesday and Denver7 brings you all the action on our airwaves.

Here’s a breakdown of the games, which all start at 6 p.m. on Denver7 (with pregame coverage at 5:30 p.m.):

  • Game 1: Wednesday, June 15
  • Game 2: Saturday June 18
  • Game 3: Monday, June 20
  • Game 4: Wednesday, June 22
  • Game 5: Friday, June 24 (if needed)
  • Game 6: Sunday June 26 (if needed)
  • Game 7: Tuesday, June 28 (if needed)

Click here for more ways and places to watch Stanley Cup Finals games.

READ MORE: Ball Arena and Denver Sports Commission speak out on Stanley Cup Final impacts

Sri Lanka’s steps towards the end of the heat wave – Analysis – Eurasia Review

June 12, 2022

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With progress towards political stability and the assurance of broad external support, there is hope that Sri Lanka will overcome the crisis.

After months of economic distress, peaceful expressions of public anger punctuated by indiscriminate violence, political strife and institutional instability, Sri Lanka now seems on the road to a return to normalcy.

There’s no denying that the winding queues for fuel and cooking gas are still there, and the prices for basic necessities are sky-high. Some basic necessities such as powdered milk have either disappeared from the market or are too expensive. But the power supply has improved significantly, putting an end, so to speak, to an “age of darkness”.

The term of government, which had ceased to run in several parts of the country, including the critical space outside the president’s office in Colombo, has been reinstated. The threat of disciplinary action prevented a strike by Ceylon Electricity Board engineers, which would have cut power to the entire island. The engineers demanded the cancellation of two energy projects financed by the foreign private sector, including one by the Adanis of India.

As India continues to deliver essentials like food, fuel, fertilizer and medicine to the best of its ability, China has finally come out of its shell and signaled its readiness to step in to help the Sri Lanka in trouble. A row with Russia (a potential fuel supplier) over the legality of an Aeroflot flight ended in a diplomatic engagement, albeit belatedly. Apparently, it takes time for the Lankan bureaucracy to assimilate Prime Minister Ranil Wickremesinghe’s advice that it should treat the country’s traditional friends with respect and consideration.

Political stability

Painfully elusive political stability now seems within reach. It finally became clear to the main political actors, both on the side of power and the opposition, that without political stability, international financial assistance will not be available.

While President Gotabaya Rajapaksa has remained steadfast in his position that he would only step down if expelled by constitutional means and not under pressure from street agitators, the Aragalaya or The struggle to force him to quit has run out of steam. This allowed him to start functioning normally. But the “Go Gota Go” activists could take satisfaction from the fact that they ousted the other Rajapaksas, including Prime Minister Mahinda Rajapaksa.

Appointment of Wickremesinghe

The problems created by instability in Parliament and confusion in foreign relations were partially resolved by the appointment of Ranil Wickremseinghe as Prime Minister in place of Mahinda Rajapaksa. Although Wickremesinghe’s appointment was bitterly criticized for being the only member of his party in parliament, Wickremesinghe highlighted his good relations with the international community and donors.

The dispute in parliament over the content of the 21st Amendment (21A) aimed at reducing the powers of the executive president seems to end with the removal of one of the main obstacles. Basil Rajapaksa, a powerful member of the ruling Sri Lanka Podujana Peramuna Party (SLPP) and a dual citizen (US-Lanka), resigned on Thursday, abiding by a clause in Bill 21A which stated that dual citizens are not eligible to hold political office. . Once that issue is resolved and MPs agree to let the president retain the defense portfolio, 21A is expected to pass with the required two-thirds majority and without a referendum.

Given the informal agreement between President Gotabaya and Prime Minister Wickremesinghe to work harmoniously, the unfortunate history of Sri Lanka’s troubled diarchies will hopefully not be repeated. This will help the international community to trust the government of Lanka and accelerate its aid programs.

The likely appointment of leading entrepreneur Dhammika Perera to replace Basil Rajapaksa as the ruling SLPP MP will be welcomed by the business sector as well as the international community as he has released a detailed plan to improve Sri Lanka’s revenue. , sector by sector. . It could even be housed in cabinet in line with the president’s and prime minister’s penchant for involving subject matter experts in governance.

The Prime Minister held talks with IMF Managing Director Kristalina Georgieva to expedite the services-level agreement with Sri Lanka and extend the IMF facility by September. For its part, China said it is “ready to work with relevant countries and international financial institutions to continue to play a positive role in supporting Sri Lanka’s response to the current difficulties and efforts to alleviate debt burden and achieve sustainable development”.

Long way to go

While these developments are encouraging, Sri Lanka still has a long way to go before normalcy is restored. The prime minister has told parliament that Sri Lanka needs to find US$3.3 trillion for oil imports over the next six months. It would need US$250 million over the next six months to supply cooking gas. He warned that winding queues at petrol stations would continue for the next three weeks and called for fuel rationing through a coupon system.

Sri Lanka’s annual rice requirements are 2.5 million tonnes. But he only has 1.6 tons in stock. To overcome severe shortages in the coming months, Sri Lanka must import $150 million worth of rice each month. It would cost $600 million a year to import fertilizer. An improvement in the harvest situation is not expected until February 2023.

A recent study by the World Food Program (WFP) found that 73% of participating households had reduced their diet and food intake. Sri Lanka needs US$5 billion over the next six months to ensure daily life is not disrupted. Another billion US dollars is needed to strengthen the rupee. In total, the country needs 6 billion dollars, at least, for the next six months.

According to the Central Bank, average GDP growth in 2022 will be -3.5% but according to the International Monetary Fund, growth will be negative at 6.5%, partly due to the conflict in Ukraine. Recovery is only expected in 2024.

Sri Lanka’s foreign loans amount to $53 billion. Many loan installments received from multilateral institutions are due to be repaid this month. In fact, Sri Lanka has already defaulted and is seeking new repayment reschedulings.

Loss of income

The prime minister said the government lost LKR 6.6 billion ($18.3 million) in revenue with the abolition of a tax system introduced in 2019. Inflation rose with money printing . LKR 2.5 billion has been released into the economy from 2020 to May 20, 2022. There has been chronic mismanagement of finances by ministries. The government is unable to provide funds to cover the losses of any of the public enterprises.

Corrective actions

Regarding the proposed corrective measures, the Prime Minister said that with the help of the IMF, by 2024, Sri Lanka will have an economic recovery plan. By 2025, the budget could be balanced.

“We call on the International Monetary Fund to organize a conference to help unite our lending partners. The holding of such a conference under the leadership of India, China and Japan will be a great strength for our country. China and Japan have different credit approaches. We hope that consensus on lending approaches can be reached through such a conference,” the Prime Minister said.

Provisional budget

The interim budget will reduce unnecessary government spending, while controlling other costs, he said. On what is for the poor, Wickremesinghe said the annual expenditure to provide various reliefs to economically backward people will increase from $350 million to $550 million. Loans to farmers would be amortized at 100%. Loans obtained by farmers with less than two hectares of land will be stopped immediately.

NJ man found guilty of Jamesburg double murder, including his father

June 10, 2022

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A Middlesex County jury found a Jamesburg man guilty of kill his own father and a second man before setting fire to a house in a cover-up attempt more than two years ago.

Jaree Kitchen, 24, was convicted of the 2019 murders of Clifford Kitchen Jr. and Gregory Fisher, both 53 and of Jamesburg.

During a two-week trial that ended on June 1, prosecutors said Jaree Kitchen had moved back to Jamesburg from Georgia to live with her father – but soon after they started having ” important issues”.

House in Jamesburg after a fire

House in Jamesburg after a fire (RLS Metro Breaking News)

Things turned sour with a brutal brawl on November 4, 2019, in which Jaree Kitchen fatally stabbed her father and Fisher, who lived in the same house at 7 Sheridan Street.

Two days later, he set fire to the house in an attempt to destroy evidence of what he had done, prosecutors said.

Kitchen was also convicted of aggravated arson, possession of a weapon, possession of a weapon for an unlawful purpose, two counts of desecration of human remains and tampering with evidence related to the murders.

He is due to be sentenced on October 28 in Middlesex County Superior Court.

Erin Vogt is a reporter and anchor for New Jersey 101.5. You can reach her at [email protected]

Click here to contact an editor about a comment or correction for this story.

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Find your municipality in this alphabetical list to see how its average property tax bill for 2021 compares to others. You can also see how much the average bill has changed since 2020. For an interactive map version, Click here. And for the full analysis by New Jersey 101.5, read this story.

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States Add New Requirement for High School Graduation: Financial Literacy

June 9, 2022

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Michigan lawmakers have approved a bill requiring high school students to take personal finance to classify. It now goes to Governor Gretchen Whitmer for her signature.

This would make Michigan the 14th state to require public high schools to teach personal finance. Florida and Georgia also passed similar laws this year, and a number of other states are considering them.

Number of States Requiring Personal Finance in High School has nearly tripled since 2019 after barely budging for years.

John Pelletier of the Center for Financial Literacy at Champlain College has a theory as to why:

“I actually think COVID has really opened people’s eyes to how financially precarious people are in how they live their lives.”

On top of that, he said, it has become very easy for anyone, including teenagers, to buy stocks – and cryptos. “You’re dealing with a young person who can, in probably 10 minutes, open a Robin Hood account, right, or a Coinbase account, so those concepts, I think, are almost more important now,” he said.

Research shows that requiring a personal finance course in high school changes people’s behavior for the bettersaid Carly Urban at Montana State University.

“[It] improves credit scores at age 22. It reduces crime rates. Student loan repayment is actually much higher after graduation. And payday loans are going down,” Urban said.

According to Next Gen Personal Finance Nonprofit20 states are currently considering legislation to require a high school class.

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2022 ‘Stranger Things’ Cast Net Worth

June 7, 2022

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The first season of stranger things premiered on Netflix on July 15, 2016 and instantly catapulted into the 21st century pop culture zeitgeist. The sci-fi series quickly became one of the most-watched shows on the streaming service and maintained its popularity. When Volume 1 Season 4 premiered over Memorial Day weekend 2022, it broke Netflix’s record for the biggest premiere weekend ever. According Deadlinethe seven-episode installment totaled 286.79 million (!!) viewing hours.

Four iterations later, it has undeniably become a worldwide phenomenon and has made its cast into mega-stars, including Millie Bobby Brown, Noah Schnapp, Finn Wolfhard, Caleb McLaughlin, Gaten Matarazzo, Sadie Sink and many more. The franchise has expanded into a possible spin-off series and endless merchandising designed for a mega-fandom, there are even Upside Down-inspired makeup collections.

Volume 2 of stranger things 4 debuts on July 1, and after that Season 5 marks the final chapter of the Hawkins gang. Even though the show is coming to an end soon, its main cast have earned some serious $$$ from the show. Here we break down the net worth of stranger things stars.

Millie Bobby Brown (Eleven)

netflix

British actress Millie Bobby Brown instantly became a household name after the hugely successful first season of stranger things. According Deadline, MBB reportedly earned $30,000 per episode for seasons 1 and 2, and somewhere between $200,000 and $250,000 for season 3. It’s unclear how much she took in for season 4, but it’s estimated that she now earns around $300,000 per episode. Above stranger thingsMillie starred in 2019 Godzilla: King of the Monsters and 2021 Godzilla vs. Kong. She deserved to act and produce credits on the film adaptations of Mysteries of Enola Holmes book series and the original Netflix movie The girls I’ve been. In 2019, Millie launched her beauty line, Florence by Mills. All of that, plus her campaigns with big brands like Samsung, Converse, Vogue Eyewear and EA Games, earned the 18-year-old a net worth of around $10 million, according to Celebrity Net Worth.

Noah Schnap (Will Byers)

stranger things

Courtesy of Netflix

The story of Noah Schnapp’s character, Will Byers, launched the stranger things franchise after his sudden demise on November 6, 1983. As previously reported, Noah and the other younger cast members reportedly earned around $30,000 per episode for the show’s first two seasons, and around $250,000 per episode for the following seasons. But Noah also starred in Steven Spielberg’s 2015 film. bridge of spies2019 abe2020s Waiting for Anyaand he even voiced Charlie Brown in Peanuts movie information. According Celebrity Net WorthNoah has a net worth of $3 million.

Finn Wolfhard (Mike Wheeler)

stranger things finn wolfhard as mike wheeler in stranger things cr courtesy of netflix © 2022

Courtesy of Netflix

Finn Wolfhard plays Mike Wheeler, a vital member of the Dungeons & Dragons team, Will’s best friend, and El’s eventual boyfriend. Besides his main role in stranger thingsFinn has acting credits in many other film projects such as Ghostbusters: Afterlife, This, It Chapter Twoand The goldfinch. Considering all of this and knowing that he now earns around $250,000 per stranger things episode, according to Celebrity Net WorthFinn is estimated to have a net worth of $4 million.

Caleb McLaughlinLucas Sinclair

stranger things caleb mclaughlin as lucas sinclair in stranger things cr courtesy of netflix © 2022

Courtesy of Netflix

Like many of his co-stars, Caleb landed his breakout role in stranger things. He stars as Lucas Sinclair and now earns around $250,000 per episode of the sci-fi series. Before stranger thingsthe actor guest-starred on such popular series as Blue blood, Law and Order: Special Victims Unitand shades of blue. In 2020 he starred alongside Idris Elba in the Netflix original movie concrete cowboyand in 2019, appeared in the sports drama directed by Steven Soderbergh High flying bird. According Celebrity Net WorthCaleb has a net worth of $3 million.

Gaten Matarazzo (Dustin Henderson)

stranger things

netflix

Gaten Matarazzo warmed all of our hearts as Dustin “Dusty” Henderson on stranger things, often coming into play in dire situations to communicate and solve mysteries via his amateur radio. Prior to her standout role on the show, Gaten starred in Les Miserables: The Broadway Musical and held a guest spot on The black list. But in the years that followed stranger thingshe played in The Angry Birds 2 movieand on May 25, it was announced that he would be returning to the Broadway stage as Jared Kleinman in Dear Evan Hansen. The 19-year-old also starred in campaigns for Verizon Fios and Old Navy, loaning out his net worth of $5 million, according to Celebrity Net Worth.

Sadie Sink (Max Mayfield)

stranger things sadie cast as max mayfield in stranger things cr courtesy of netflix © 2022

Courtesy of Netflix

Sadie Sink joined the stranger things cast as Max Mayfield in season two, and according to Statistical, she was earning $150,000 per episode as of October 2018. But given her larger storylines in seasons three and four, she is now expected to earn over $250,000 like her other co-stars. The actress also starred in Taylor Swift’s short ‘All Too Well’ alongside Dylan O’Brien and has been the face of campaigns for major fashion houses including Miu Miu, Kate Spade and Givenchy. She even walked the runway for Undercover’s Fall 2018 show during Paris Fashion Week. Celebrity Net Worth estimates his net worth to be around $1 million, but considering his pay per episode for stranger thingswe expect it to be closer to $3 million.

Maya HawkeRobin Buckley

stranger things

netflix

Maya Hawke – who comes from a famous family, being the daughter of actors Ethan Hawke and Uma Thurman – was also a later addition to the stranger things family She is likely to earn roughly the same as her other cast members and earn around $200,000 or $250,000 per episode. She also appeared in Once upon a time… in Hollywood, Fear Street: Part One – 1994and the Little woman TV shows. Besides acting, she models for brands such as vogue and Calvin Klein. This all adds up to his estimated net worth of $3 million, per Celebrity Net Worth.

Charlie HeatonJonathan Byers

stranger things

netflix

Charlie Heaton retained an important role in stranger things since Season 1, with Will’s shy older brother, Jonathan Byers. Before landing his role in the series, the actor guest-starred on British television series such as DCI banks and Vera. He has also acted in films including As you are, Shut in, marrow boneand no future. According NME, Charlie previously played in UK-based band Comanechi and toured with the band for over a year. Considering the fact that he probably earns around $250,000 per stranger things episode, Celebrity Net Worth estimates that Charlie’s net worth is around $4 million.

Natalia DyerNancy Wheeler

stranger things

netflix

Natalia Dyer’s acting credits date back to 2009 when she made her film debut as Clarissa Granger in Hannah Montana: The Movie. She then starred in smaller film projects such as Blue like jazz, Don’t let me goand Nightfall before landing the role of Mike’s older sister, Nancy Wheeler, in stranger things. The actress has appeared in several films since and earns a salary similar to hers stranger things costars, adding to his net worth of around $4 million, per Celebrity Net Worth.

Joe Keery (Steve Harrington)

stranger things l to r gaten matarazzo as dustin henderson and joe keery as steve harrington in stranger things cr courtesy of netflix © 2022

Courtesy of Netflix

Joe Keery has been a stranger things mainstay since Season 1, first as Nancy Wheeler’s love interest and now as everyone’s favorite babysitter, Steve Harrington. He has acted in films including the drama directed by Jessica Chastain Molly’s Game in 2017, and the Shawn Levy-directed comedy free guy in 2021. In addition to acting, Joe was a guitarist in the Chicago-based psychedelic rock band Post Animal, per NMEbut now works solo under the name DJ – he even performed at festivals such as Lollapalooza and Boston Calling, and went on tour in April 2022. Celebrity Net Worth estimates that Joe’s net worth is around $4 million.

Winona RyderJoyce Byers

stranger things winona ryder as joyce byers in stranger things cr courtesy of netflix © 2022

Courtesy of Netflix

As one of the biggest names in the business who signed on stranger thingsWinona Ryder is an established actress who has starred in major productions like beetle juice, Heathers, Edward Scissorhandsand Girl interrupted. In 1994, she won the Golden Globe for Best Supporting Actress for her role in The age of innocence. She was also recognized by the organization for her roles in the 1991s Sirens and stranger thingsand in 1994 and 1995 she was nominated for an Academy Award for The age of innocence and the 1995 TV series Little woman. Due to his rich career, Celebrity Net Worth reports that she originally earned $100,000 per episode for the first two seasons of stranger things, and now earns around $350,000 per episode. The outlet estimates his net worth to be around $18 million.

David HarborJim Hopper

stranger things

netflix

Like Winona, David Harbor was an established actor when he joined the stranger things cast as Police Chief Jim Hopper. Before the sci-fi series, he appeared in films such as Brokeback Mountain, War of the Worldsand Revolutionary Roadand most recently starred in Hellboy, suicide squad, Black Widowand the HBO television series The press room. According Celebrity Net WorthDavid and Winona earned similar paychecks throughout stranger things‘ so far, and the outlet reports that the actor has a net worth of around $6 million.

The Barbie Pop-Up Truck Tour is coming to New Jersey

June 3, 2022

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If you have a little girl (or, to be honest, a little boy) who loves playing with Barbies, New Jersey is the place to be for the next two weeks.

The Barbie Malibu Pop-Up Truck continues its 2022 tour with a stop Saturday June 4 at Edison at Menlo Park Mall and Saturday June 11 at Paramus at Westfield Garden State Plaza.

The truck tour started in 2019 to celebrate Barbie’s 60th birthday and is now celebrating 50 years of Malibu Barbie.

According to Patch.com, the merchandise offered for sale by the truck is retro and includes:

  • Barbie Logo Embroidered Denim Jacket
  • Pink Barbie Logo Hoodie
  • Tie-dye bucket hat
  • ring t-shirt
  • Set of embroidered patches
  • Enamel pin set
  • Tote
  • Insulated stainless steel bottle
  • Beach towel
  • Malibu Barbie Necklace
  • Barbie Logo Mug

The products will be available for purchase of the Barbie Pop Up Truck by credit card. The price ranges from $12 to $75.

Chief Operating Officer Hannie Peng said MyCentralJersey.com,

“The Malibu Barbie theme is just love for Barbie fans – it doesn’t have to be just for the California girl. Everyone can relate to her free spirit and love of fun in the sun.

At Edison, the truck will be parked in the grassy area near Macy’s from 10 a.m. to 7 p.m. At Paramus, it will be parked around the corner from the mall entrance near Capital Grille from 10 a.m. to 7 p.m.

The truck has visited more than 50 cities so far.

The views expressed in the above post are those of New Jersey 101.5 talk show host Bill Doyle only.

You can now listen to Deminski & Doyle — On demand! Listen to New Jersey’s favorite radio show every day of the week. Download the Deminski & Doyle show wherever you get podcasts, on our free app, or listen now.

Click here to contact an editor about a comment or correction for this story.

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How Somerset County saved 2,000 NJ residents from COVID eviction

June 2, 2022

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On Tuesday, the Somerset County Board of Commissioners approved the allocation of up to $1.6 million from the US bailout to add to a previous federal grant of $7.7 million from the federal rescue program. emergency rental assistance for which the application deadline expired in mid-April.

The total funding of more than $9 million, the county said, prevents the eviction of more than 2,000 residents from nearly 900 households following the lifting of COVID-19 moratoriums.

Commissioner-Director Shanel Robinson said the effort she and her colleagues undertook actually started with making sure the owners were compensated.

“We went through a process to identify tenants and landlords who were part of this cohort who may have been behind on their rent, and/or landlords who had been unable to collect,” Robinson said. .

The average support package offered to households so far has been valued at just under $10,000 for up to 12 months of rent arrears, three months of term rent and assistance with utility bills. , according to Robinson.

The county said 18 of its municipalities received housing assistance funding, led by Franklin Township at nearly $2.9 million, and black residents made up about half of those who identified their race. or their ethnic origin.

“Hopefully this will get us through this next phase, but again we continue to monitor the situation,” she said. “It’s very fluid. We just want people to be healed and stronger than before the pandemic.”

Other counties in New Jersey, Robinson said, may have abandoned their process for managing this emergency aid or hired outside consultants.

But Somerset County has identified people within its borders who could be ambassadors, helping with applications at county libraries.

This expanded and maximized the county’s outreach potential, according to Robinson.

“Mobile services and meeting people where they are, not just meeting their needs where they are, but being physically among them in the community where they actually live,” she said. “Certainly, as we come out of or emerge from this pandemic, we want to make sure everyone is on solid ground, but especially our most vulnerable populations.”

While no single legislative body has all the answers about how to lift its residents out of pandemic-related financial stress, Robinson said, collaboration leads to better outcomes for everyone.

So no matter what county a New Jersey resident is from, she suggested reaching out to local elected officials and agencies when needed.

Patrick Lavery is a reporter and anchor for New Jersey 101.5. You can reach him at [email protected]

Click here to contact an editor about a comment or correction for this story.

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Municipal tax bill for every town and city in NJ, filed

Just under 30 cents of every $1 of property taxes collected in New Jersey supports municipal services provided by cities, townships, boroughs, and villages. Statewide, the average municipal tax bill alone in 2021 was $2,725, but that varied widely from over $13,000 in Tavistock to nothing in three townships. In addition to the $9.22 billion in taxes for municipal purposes, special tax districts that in some locations provide municipal services such as fire protection, garbage collection or economic development collected 323, $8 million in 2021.

New Jersey’s New Legislative Districts for the 2020s

The boundaries of the 40 legislative districts for the Senate and Assembly elections from 2023 to 2029, and possibly 2031, were approved in a bipartisan Allocation Commission vote on February 18, 2022. The map continues to favor the Democrats, although Republicans say it gives them a chance of winning a majority.

Kaley Cuoco is dating again, and her stewardess co-star talks about new Beau Tom Pelphrey

May 31, 2022

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Kaley Cuoco revealed her new relationship with ozark‘ Tom Pelphrey just a few weeks ago on his social media. Since then, the new Hollywood couple have been sharing candid snaps here and there. It was a nice change of pace after the tough year she went through following her split from Karl Cook. With her romance with Pelphrey in the public sphere, her Flight attendant the co-star opened up about her new beau.

Since starring as best friends on the HBO Max series, Cuoco and Zosia Mamet’s on-screen chemistry has carried over into real life as Mamet helped her get back on track after the divorce. Being such close friends, Girls the alum was required to meet the The Big Bang Theory the vet’s new buddy. It appeared that Pelphrey made a good impression on Mamet. By speaking with HEYthe actress gave her take on the new couple’s budding relationship.

You know what. It’s really interesting, and she said it from the start, I knew it when she knew it. When you’re someone’s best friend, when you’re truly their best friend and love them deeply, you’re so interconnected. And when I met him, I was one of the last to meet him. I met him and I was like, ‘I feel like I’ve known you forever.’ And he likes it like nobody’s business, and that’s all that matters to me.

Watching your best friend fall in love again after a devastating heartbreak is (usually) a cathartic moment for everyone involved. Listening is one thing, but Mamet felt the same connection Cuoco had with Pelphrey. As the actress mentioned, all you want is for your friends to be happy and to feel loved again. With her off-screen best friend being the last to meet her new boyfriend, Kaley Cuoco couldn’t help but feel bad for the two people closest to her who hadn’t met earlier.

It’s weird, she was like, the last one to meet him. I was devastated.

Well, at least her BFF and her new beau finally met and hooked up instantly. So things have generally settled down. Hopefully, fans can see photos of Cuoco, Mamet and Pelphrey hanging out together at some point.

His new relationship seemed like a personal bright spot after a mixed year of personal lows and professional highs. The The Big Bang Theory alum chatted with fellow divorcee Kelly Clarkson as they drank wine while talking about their split. Of course, Clarkson understood the sitcom star’s grief given that she and her former husband Brandon Blackstock were officially declared ‘divorced’ in 2021. Of note, the 8 simple rules vet and her ex were apparently on friendly terms while supporting her after their split. But the OG american idol The star and her ex had a rocky breakup, fighting over custody of the kids and their Montana ranch. Yet the two stars have found a common ally in each other.

Kaley Cuoco has several people supporting her as she moves on with newfound love. With a new handsome, his series The stewardess recently wrapped Season 2, which saw Cassie heal from some personal issues in the finale. As viewers wait to hear news of a third season, Kaley Cuoco has several TV projects set to debut in 2022.

Pop-up party rumors say this Jersey Shore town could be next

May 29, 2022

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ASBURY PARK — Police in a popular Jersey Shore beach town are investigating whether their community is the target of another pop-up party similar to last weekend’s mayhem in Long Branch.

Asbury Park Police said on social networks that it is still working to determine the credibility of message details. Police said the messages advertised a party on Sunday, but did not say where or when.

The department added that it was coordinating with other law enforcement agencies for the safety of residents and visitors.

“There will be zero tolerance for any illegal acts and lewd behavior in reference to this pop-up party or any other future event,” police said.

Police did not immediately respond Sunday morning to a request for an update on the investigation.

Fears of short-lived parties on the Jersey Shore resurfaced after 5,000 people showed up in Long Branch on Saturday, May 21. Authorities said most revelers took the train to get there.

Both Asbury Park and Long Branch are in Monmouth County. NJ Transit train rides between the two coastal cities take less than 15 minutes.

In response, the city implemented a curfew and called for help from nearby law enforcement.

Police in tactical gear responded to disperse the crowd using smoke and a flash bang. 15 people have been arrested, according to the Monmouth County District Attorney’s Office.

Posts on social media have indicated that another pop-up party at Long Branch is scheduled for June 19. A flyer for the event promoted dancing, music and a $1,000 “twerking contest”.

Instagram/@sosactivated

Instagram/@sosactivated

Local officials and state lawmakers said they were working to suppress similar future events.

Public Safety Director Domingos Saldida said the goal was to create a plan to deal with overwhelming crowds that other communities could implement. Saldida added that social media has made it easier for “out of town” groups to coordinate their celebrations.

“When masses show up by NJ Transit and 5,000 people take over Pier Village, it creates a very difficult situation to manage,” Saldida said.

Long Branch Mayor John Pallone said he was considering taking legal action against social media platforms used to promote the parties. It’s unclear exactly what that would entail.

(via stuffed_0live on TikTok /ogden1 on TikTok)

(via stuffed_0live on TikTok /ogden1 on TikTok)

“Our city will not be a place for those who disrespect our city, public spaces, shopping streets with acts of violence, drinking or smoking,” Pallone said.

Senator Vin Gopal, D-Monmouth, said he would introduce a bill to make revelers responsible for the wreckage they leave behind. Gopal, a Long Branch resident, said the legislation would hold parents accountable for the actions of minors.

“Some of these videos I saw were absolutely disgraceful and the amount of litter left on the streets afterwards was disgusting,” Gopal said.

Rick Rickman is a reporter for New Jersey 101.5. You can reach him at [email protected]

Click here to contact an editor about a comment or correction for this story.

NJ Beach Tag Guide for Summer 2022

We are coming another summer to the Jersey Shore! Before you lose yourself in the excitement of sunny days on the sand, we calculate how much seasonal/weekly/daily beach beacons will cost you, and pre-season deals you can still take advantage of!

A glimpse of Alicia Keys’ mansion

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The reason many sports fans don’t like seeing Drake around their favorite team

May 27, 2022

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In 2022 there was another instance of the Drake Curse, and again it cost Drake money. A lot of money. This time the victim came from the world of Formula 1. Ferrari driver Charles Leclerc had stuck his car in pole position, giving himself a great chance to take a win and extend his championship lead over the 2021 defending champion, Max Verstappen of Red Bull Racing, by Sports News.

Leclerc took a substantial lead, and it looked like the Monegasque driver was on course for an easy flag-light victory for Ferrari. However, according to Sporting News, it all came crashing down on lap 28 when the Ferrari power unit in the rear of his car failed. It was a shock retirement that cost Leclerc the lead in the championship standings, especially when the Ferrari power unit was known for its reliability, for Sports car. However, it quickly became apparent that other forces may be at work.

According Daily mail, ahead of the race, Drake posted a photo of his betting slip on his Instagram story with the caption, “First F1 bet let’s see how it goes.” The bet was CAD$300,000 ($230,000 USD) to win CAD$750,000 ($590,000 USD) that Leclerc would win the Spanish Grand Prix. Fans were quick to notice that it looked like Drake’s curse was still very much alive.

New Bedford City Council votes against mayor’s health care plan

May 26, 2022

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When New Bedford Mayor Jon Mitchell delivered his state of the city address last month, he mentioned renegotiating what the city pays for employee health care as one of his priorities. cost reduction. When he presented his $471 million budget to New Bedford City Council last week, he again insisted it was one of the few areas with potential for savings.

On Tuesday evening, the council took up Mayor Mitchell’s third attempt to get the city to pass Sections 21-23 of Chapter 32B of the Massachusetts General Laws, which would allow the city to negotiate these health care costs with public union representatives. through a neutral arbitrator, and for the third time the board rejected it.

First, a vote on whether to send the motion to the council’s finance committee failed 3-7, with councilors Brad Markey, Linda Morad and Ryan Pereria the only votes in favor. A second vote on whether to proceed with the motion was approved 8 to 2, with only councilors Markey and Morad voting against. Ward 4 Councilor Derek Baptiste was not present.

During his weekly appearance on WBSM on Wednesday, Mitchell shared his disappointment with the board’s decision.

“There aren’t a lot of levers the city can use to save taxpayers money on non-discretionary spending. You provide health care, and it’s there, and you have to pay the bill. We provide our employees with very good medical coverage, but we provide it inefficiently,” he said. “State law provides us with the opportunity to negotiate effective and efficient health care for our employees and we have not taken advantage of it.”

Mitchell particularly took issue with the fact that the board didn’t even bring the matter to the finance committee for discussion.

“Not only did they reject it, they didn’t even vote to discuss it. Now think about it,” he said. “The merits of the case should be discussed in open session so that people can weigh the costs and benefits of this, but last night the fire and police unions filled the room in the council chambers, as they have done before when this came, and the councilors come to shoot down not only the measure itself, and I can’t stress this enough, shot down the very opportunity to discuss it.

Mitchell says health care costs for the city have increased by about $1 million a year since 2012, from $35.2 million to $45.7 million, and he expects that these costs increase by another 7% in the immediate future. He said without renegotiating the percentage of an employee’s health care paid by the city, it would result in higher taxes for city residents and business owners.

“Look, the board can’t have it both ways. The council can’t say we’re against raising taxes, but on the other hand, not taking meaningful steps to do something about it,” he said. “Instead they said, ‘No, we’re not even going to discuss it,’ and I think that’s a real problem. It’s going to make it harder in the long run for taxpayers, for taxpayers. municipal services I’m disappointed, but I think all the taxpayers in the city are also disappointed.

City Council chairman Ian Abreu said he voted against the motion because he believed savings could be made without having to refer the matter to arbitration.

“I have always believed that our Public Service Committee exists for one purpose: to work with our administration to analyze costs and to work with our executive to find common ground. All parties need to come together around the table to help find a solution,” Abreu said. “I have very serious concerns about what changing our health care benefits would mean for our retirees, paraprofessionals, food service workers and custodial staff who are already stretched thin. Between 2019 and 2021, the PEC saved taxpayers $2,700,000 in healthcare plan concessions. However, savings only happen when both parties come together and negotiate.

General Counsel Shane Burgo voted against the motion and also cited PEC as a viable option.

“Rising health care costs are a national problem and will not be solved by cutting benefits or increasing out-of-pocket spending. The New Bedford Public Employees Committee (PEC) continues to bargain in good faith, I encourage this administration to do the same,” Burgo said. “PEC has made many concessions that have saved them almost $3,000,000 over the past three years. I will continue to support their bargaining position to negotiate fair and equitable health care.

Ward 3 Councilman Hugh Dunn, who also voted against the motion, suggested an ulterior motive in bringing the idea of ​​negotiating healthcare costs back to council.

“The proposal is a tired and perennial red herring tabled again to distract from administration spending in the annual budget. There has been no tax rate reduction in any municipality where this proposal has been enacted. The only thing that has been cut is essential health care coverage for city workers,” he said. “I support the right of our employees to negotiate their health care – and I refuse to compromise that commitment, especially during a pandemic.”

Mitchell said that despite the council having rejected this motion three times, he will continue to bring it forward until he decides to act.

“What we’re trying to do is not wait for a financial crisis to put in place these useful reforms, these meaningful reforms,” ​​he said. “That’s what we do in New Bedford, wait until there’s a big hole in the roof before we go fix it. I happen to follow the saying fix your roof while the sun is still shining, because we don’t want to get to a point where things are so tight, finances are so tight, that we actually have to cut things that really matter to people or unduly tax taxpayers and/or both.

“That’s why I preach the long term. This is a long-term measure that will put the city on a better footing,” he said. “Unfortunately the council missed that opportunity (Tuesday) evening.”

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WATCH: Things from the year you were born that no longer exist

Iconic (and sometimes silly) toys, tech, and electronics have been usurped since their grand entrance, either through technological advancements or common-sense breakthroughs. See how many things on this list trigger childhood memories – and which ones were there and gone so fast you completely missed them.

7 stocks reporting profits the week of May 23, 2022

May 21, 2022

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InvestorPlace – Stock market news, stock advice and trading tips

Tough week for traders. Big wins missed by walmart (NYSE:WMT), Target (NYSE:TGT) and Kohls (NYSE:KSS) left investors in shock and contributed to a strong sell off in the stock marketsincluding the biggest one-day drop in two years on May 18.

Wall Street will be looking for better results in the week ahead as we get first-quarter impressions from the latest major retailers to report, as well as some notable tech companies.

Taken together, earnings reports for the next few days should provide more evidence of how the consumer and economy are holding up as inflation continues to hit a 40-year high and the Federal Reserve prepares to raise interest rates at its next meeting on June 14 and 15. Here are seven stocks reporting profits the week of May 23:

  • best buy (NYSE:BBY)
  • petco (NASDAQ:FRAME)
  • Nvidia (NASDAQ:NVDA)
  • Dick Sporting Goods (NYSE:SDKs)
  • Snowflake (NYSE:SNOW)
  • Ali Baba (NYSE:BABA)
  • Costco (NASDAQ:COST)

Stock reporting earnings: Best Buy (BBY)

Source: Bob Noah / Shutterstock.com

First out is consumer electronics and appliance retailer Best Buy. The Richfield, Minnesota-based company could benefit from some good news. Year-to-date, BBY stock is down 26% to $75.68 per share. The stock price was pulled down along with the wider market. However, the company was recently appointed to investment banking Goldman Sachs (NYSE:GS) safety margin listcomposed of stocks that have attractive valuations and strong balance sheets.

For his winnings next week, analysts expect that Best Buy will report earnings per share (EPS) of $1.64 on revenue of $10.44 billion. Anything better than that, and BBY stock could bounce higher. Currently, the stock is trading near its 52-week low of $72, providing an attractive entry point for investors before or immediately after its results. the median target price on Best Buy stock among 21 analysts who cover the company is currently $120, implying a 57% upside.

Petco (WOOF)

The front of a Petco (WOOF) store in Los Angeles, California.

Source: Walter Cicchetti / Shutterstock.com

Pet retailer and animal welfare company Petco releases its first quarter figures on May 24. Wall Street expects the San Diego, Calif.-based company will report EPS of $0.16 on revenue of $1.46 billion for the January-March period. The company recently announced a retail partnership aimed at attracting dog owners who are also outdoor enthusiasts and particularly enjoy camping.

The partnership is with Backcountry, an online retailer specializing in camping, hiking and outdoor gear. The two companies create a collection of outdoor gear for dogs that participate in outdoor experiences with their owners. Called “Backcountry x Petco,” the collection will be sold at Petco stores as well as the Petco.com and Backcountry.com websites. WOOF stock is down 14% this year at $17.26 per share.

Stock reporting earnings: Nvidia (NVDA)

Nvidia (NVDA) logo and sign on corporate headquarters.  Blurred foreground with green trees

Source: Michael Vi / Shutterstock.com

Semiconductor and microchip giant Nvidia announces its earnings on May 25, and the results will be closely scrutinized on Wall Street. NVDA shares have been hammered this year along with shares of all semiconductor companies as concerns grow over supply chain issues and slowing demand. So far in 2022, NVDA stock has fallen 42% to trade at $175.78 per share. Most analysts say Nvidia stock is a shout buy at current levels. the median target price on stocks is $332.00, suggesting an 89% upside from current levels.

Gaming, artificial intelligence, data centers, self-driving cars and 5G wireless are expected to continue to propel Nvidia’s product sales. The company’s revenue has grown from $4.3 billion in 2013 to $26.9 billion today, making it the world’s largest chipmaker. Analysts seem to agree that Nvidia can keep growing at a steady pace despite current supply chain issues and market volatility. For the first quarter of this year, Wall Street planned that Nvidia will report EPS of $1.29 on revenue of $8.12 billion.

Dick’s Sporting Goods (DKS)

Exterior of Dick's Sporting Goods retail store, including sign and logo.

Source: George Sheldon via Shutterstock

Shares of Dick’s Sporting Goods fell sharply last week, along with the wider retail sector. On May 18, DKS stock fell more than 12% after Walmart and Target sniffed out their first-quarter numbers. The company’s stock price is now down 30% on the year to $80 a share. At its current level, and with a price/earnings ratio (P/E) of just 5, most analysts believe Dick’s stock is undervalued and ripe for the picking. the median target price on the stock price is $137, which would be 70% higher than where the stock is currently trading.

Analysts are looking for Dick’s Sporting Goods will report EPS of $2.46 on revenue of $2.61 billion when it reports quarterly results on May 25. investment bank Morgan Stanley (NYSE:MRS) recently named DKS one of the most “unappreciated post-COVID stocks” and urged investors to add it to their portfolios. As the pandemic settles firmly in our collective rear-view mirrors and summer is fast approaching, Dick’s Sporting Goods should see sales increase.

Stocks Reporting Earnings: Snowflake (SNOW)

Snowflake symbol and logo at the company's headquarters in Silicon Valley.  Stock of SNOW.

Source: various photographs / Shutterstock

Snowflake, another big tech stock that announces its first quarter next week, is the cloud computing data warehousing company. Shares of the Bozeman, Montana-based company were hit harder than most stocks during the market selloff this year. Year-to-date, SNOW stock is down 54% to $151.31 per share, and is now 63% below its 52-week high of $405 per share. Analysts expect the company reports EPS of $0.01 on revenue of $41.76 million for the first quarter of this year.

SNOW stock has also been hit in recent weeks by revelations that another cloud computing giant Selling power (NYSE:RCMP) possesses left his entire position in the business. Salesforce had invested $250 million in Snowflake at the time of the software company’s initial public offering (IPO) in 2020. However, as of the end of the first quarter, Salesforce held no Snowflake shares, according to a regulatory filing, selling all his actions. as the market weakens and falls.

Alibaba (BABA)

Alibaba (BABA) logo on the side of a glass-walled building.

Source: test / Shutterstock.com

Is the worst over for Chinese tech giant Alibaba? After two years of a punitive government crackdown, analysts and investors are cautiously optimistic that authorities in Beijing may finally be drop listed companies, especially large-cap tech stocks. The Chinese government has pledged to support the country’s tech sector and said it backs plans for new internet companies to go public. Many investors are keeping their fingers crossed that e-commerce giant Alibaba can get its business back on track.

Granted, the BABA stock could use a lift. Shares of the Hangzhou-based company are currently trading at $89, down 61% from a 52-week high of $230.89. Investor confidence in Alibaba shares has also been shaken by the prospect that more Chinese companies could be forced to delist from US stock exchangeseither by Chinese authorities or by the United States Securities and Exchange Commission, which applies more rigor to Chinese companies trading in New York. Analysts expect Alibaba reports first-quarter EPS of $1.09 on revenue of $29.53 billion.

Stocks Reporting Earnings: Costco (COST)

Short-term profit taking can lower Costco stock price

Source: Helen89 / Shutterstock.com

Finally, we’ll hear from big-box grocery retailer Costco next week. The major retailer’s earnings are all but certain to influence markets when the Seattle-based company releases its report on May 26. alone to trade at $424 per share. The title is now down 25% over the year. Analysts expect that Costco will report EPS of $3.04 on revenue of $51.38 billion.

The big question for Costco as earnings approach is whether it has been able to pass on the higher costs to its customers? While some retailers, like Home deposit (NYSE:HD) have succeeded, others, such as Walmart, have not.

Costco has been looking for ways to raise prices at its more than 800 locations around the world, including to increase the price of its famous cheap hot dogs. However, the company decided against the move after encountering backlash from customers, who appreciate being able to purchase a hot dog and soda at Costco outlets for $1.50 since the launch of the combo in 1985.

Disclosure: As of the date of publication, Joel Baglole held long-standing roles at MS and NVDA. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publication guidelines.

The post office 7 stocks reporting profits the week of May 23, 2022 appeared first on InvestorPlace.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Allow taxes to rise, then give credits to some

May 20, 2022

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TRENTON — Taxes that businesses pay into the unemployment fund are set to rise in July and again next summer, but the legislature could take steps to ease that financial bite.

A bill (A3683/2152) advanced by the Assembly’s Committee on Commerce and Economic Development on Thursday would not eliminate a projected $216 million tax increase due in the fiscal year that begins in six weeks. Instead, it would give certain companies tax credits equal to the increase, offsetting the impact.

Assemblyman Roy Freiman, D-Somerset, said more than 70 percent of New Jersey businesses would benefit from the bill, which offers no respite for large employers.

“What we’re doing here is good for our business community,” Freiman said. “We’re telling them, listen, we realize that the increases that are currently planned will have a negative effect, and with this bill, we will in effect give them a tax credit for all these increases that they may incur. »

Assemblyman Bob Auth, R-Bergen, said the bill is unnecessarily complicated and some small businesses won’t have time to deal with the appropriations.

“They’re just going to drop him through the cracks. That’s not what we want to do here. You don’t want to do that here either,” Auth said. “You want to bring immediate relief to these people. And that’s what we should be doing, so this particular aspect of this bill is flawed.

The bill would provide tax credits that business owners could use to lower their corporate or income tax bills over the next seven years. They would be available from tax years 2023 and 2024, based on potential increases in unemployment insurance premiums seen between July 2022 and June 2024.

The bill also puts $375 million into a fund that would be used to repay federal loans used to pay unemployment benefits. This loan currently has no balance, but further borrowing is planned – which could lead to increased federal business taxes, if the loan has a balance in the last seven weeks of 2022.

Business groups pushing the state to use billions in federal funds to avoid payroll tax increases support the scaled-back alternative.

“Understanding the art of compromise, there is no perfect bill,” said Michael Egenton, executive vice president of the New Jersey Chamber of Commerce. “Would we rather have seen other components of this one?” Sure. But at the same time, it is something that is desperately needed.

Sheila Reynertson, senior policy analyst for New Jersey Policy Perspective, objected, saying the bill was unnecessary given the state of the economy and that the legislature was paying too much attention to corporations.

“Essentially another giveaway to cover a modest cost that they’re already being charged to pay and diverts resources that people, especially those who are still laid off, need right now,” Reynertson said.

Under the bill, the Department of Labor and Workforce Development would have to provide at least 30 days notice to employers when the unemployment insurance tax rate changes. They were told after last year that the hike had already started – although they knew more than six months earlier that a hike was coming, but not their exact rate.

The bill now heads to the Assembly Appropriations Committee for further consideration.

Michael Symons is the Statehouse Bureau Chief for New Jersey 101.5. You can reach him at [email protected]

Click here to contact an editor about a comment or correction for this story.

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New England single mother is speechless after receiving gigantic tip

May 16, 2022

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According to UPI.comJennifer Vernancio has been a waitress at a pizzeria in Cranston, Rhode Island called Big Cheese & Pub for three and a half years.

She is a single mother of a 16 year old daughter and a 3 year old son.

She told the news site that caring for her children and earning an income amid the pandemic has been difficult, to say the least.

It turns out that she had a particularly stressful day. Her 3-year-old felt sick, which meant he couldn’t go to daycare. This left Jen scrambling for a babysitter, which made her late for work. Fortunately, the pizzeria where she works is incredibly accommodating and helps her whenever she can.

Jen arrived at work exhausted and her very first table of the day changed everything. A husband and wife were warm and kind and asked Jen about herself. They ordered a few sandwiches, salads and drinks. As they walked out, they thanked Jen and told her to have a great day! She went over to where they were sitting and saw that they had left her an $810 tip on a check for $48!

She was absolutely speechless. The amount of money was extremely generous, but beyond that, the act of kindness from complete strangers left her overwhelmed and so grateful. When you’re unlucky and life seems really hard for you, if someone shows you a little humility, it can completely change things.

Jen used the money to buy her daughter a new pair of shoes, and her son is getting a toy police truck. She will use the rest of the money to pay the bills. She never got the couple’s name, but it’s safe to say she’ll never forget what they did for her when she needed it most.

WATCH: States with the most new small businesses per capita

28-year-old NJ man admits stabbing student roommate’s death

May 12, 2022

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JERSEY CITY — A 28-year-old city resident has admitted to the stabbing death of his 23-year-old roommate nearly two years ago.

Tong Cheng pleaded guilty to manslaughter, Hudson County District Attorney Esther Suarez announced Wednesday.

On August 8, 2020, the Jersey City Police Department responded to a call about a suspicious condition at a New York Avenue apartment near Hutton Street.

Yuting Ge was found in the apartment the two men shared, unresponsive with multiple stab wounds.

Ge was a student at Stevens Institute of Technology.

Cheng is an alumnus of Stevens Institute of Technology Graduate School.

He was arrested at a hotel in Weehawken two days later.

When Cheng is sentenced in late July, the state will recommend a 30-year prison sentence, subject to the No Early Release Act.

Erin Vogt is a reporter and anchor for New Jersey 101.5. You can reach her at [email protected]

Click here to contact an editor about a comment or correction for this story.

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Inside Whitney Houston’s $1.6 Million Home and Studio

Take a look at the late Whitney Houston’s longtime New Jersey home and studio, now for sale.

Incredibly expensive divorces

Voting for the New Jersey Hall of Fame Class of 2022

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NJ County Fairs are making a comeback: Check out the schedule for 2022

UPDATE 4/10: A current list of county fairs happening in the Garden State for 2022. From rides, food, animals and hot air balloons, each county fair has something unique to offer.

(Fairs are listed in geographic order from South NJ to North NJ)

Many More NJ Cities Should Switch to the Legal Weed Market

May 8, 2022

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When the deadline arrived in August 2021, about 70% of New Jersey municipalities had passed ordinances stating that no business related to the state’s legal recreational market could operate within their boundaries.

But the number of cities opting out has dwindled since last summer as municipalities learned more about New Jersey’s cannabis rules. And experts expect dozens, if not hundreds more cities to green light marijuana operations over the next two years.

“I think a lot of cities will start signing up because they’ll see it’s a compliant business, there really isn’t a lot of drama…and they’ll also see the opportunities economic,” said Rob Mejia, lead instructor for University of Stockton Minor in Cannabis Studies.

The market doesn’t just translate into tax revenue for the city, Mejia said — there are great opportunities for building a dispensary, for example, as well as jobs.

“Cannabis is currently the fastest growing industry in the country, and every time you move from a medical market to an adult market, your cannabis job market grows up to 10 times what he was,” he said.

On April 21, the day the New Jersey market opened, 12 dispensaries took in a total of about $1.9 million.

Cities that have opted out are free to participate at any time, by modifying an existing ordinance or adopting a new one. Municipalities that chose to allow cannabis operations in town, however, would have to wait 5 years before abandoning the industry. Cities are not allowed to refuse delivery.

“Several municipalities that have opted out of their options are currently evaluating these regulations and market development to determine their best next steps,” said Michael Cerra, executive director of the New Jersey State League of Municipalities.

Dover, Maplewood and South Orange are just a few cities that had passed temporary bans against the legal sale of cannabis, but have since decided to go into the market.

“A lot of towns pulled out just to find out what was going on,” said Morristown Fox Rothschild partner Fruqan Mouzon. “Because it’s brand new, a lot of people were hesitant.”

Mouzon noted that unsubscribes aren’t just an inconvenience to potential consumers; they also prevent potential business owners from obtaining a “microlicense”, specifically designed for small family operations majority-owned by a local resident.

Dino Flammia is a reporter for New Jersey 101.5. You can reach him at [email protected]

Click here to contact an editor about a comment or correction for this story.

WATCH: States with the most new small businesses per capita

NJ Beach Tag Guide for Summer 2022

We are coming another summer to the Jersey Shore! Before you lose yourself in the excitement of sunny days on the sand, we calculate how much seasonal/weekly/daily beach beacons will cost you, and pre-season deals you can still take advantage of!

Trade School or College – Which is Better for NJ?

May 6, 2022

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If you’ve been to high school in New Jersey in the last 30 years, you’ve probably faced the same pressure as kids today regarding what to do.

High schools are geared towards producing middle schoolers, plain and simple. There’s a cultural stigma that seems to be placed on kids who don’t want to go to college.

Tim Gouw on Unsplash

Tim Gouw on Unsplash

We even have massive government programs to deal with the “crisis” of not being able to afford college. We now have politicians spending taxpayers’ money to pay illegal immigrants to attend college for free. And a White House focused on paying off a certain amount of student debt. This is wrong and wrong policy.

We need to change direction and recognize that young people need options and opportunities.

PTTI EDU through Unsplash

PTTI EDU through Unsplash

Why should every child go to college? Why should taxpayers subsidize elite academics who charge families hundreds of thousands of dollars for an education that may have no positive impact on their future careers? Billions of dollars to these institutions and billions of debt to working families.

We heard stories throughout the morning of kids graduating from high school, going to trade school, joining a union, and hitting six figures in their twenties.

Maybe it’s time to stop measuring high school success by the percentage of kids who go on to college. What about the percentage of kids who buy a house within five years of graduating? Or just a note from those employed after high school? Certainly, a more accurate representation of success in the real world.

It’s time for taxpayers to stop subsidizing “Big College” and start investing our resources to help our local economy grow and lift people to the next level of success. It starts with changing the way we evaluate our secondary schools.

Let’s completely change the conversation and give kids better choices.

The above post reflects the thoughts and observations of Bill Spadea, host of New Jersey talk show 101.5. All opinions expressed are those of Bill. Bill Spadea is on the air weekdays from 6-10 a.m., speaking from Jersey, taking your calls at 1-800-283-1015.

WATCH: States with the most new small businesses per capita

Voting for the New Jersey Hall of Fame Class of 2022

These are the nominees for the New Jersey Hall of Fame Class of 2022. They come from all walks of life, spanning generations dating back to colonial times. The nominees span Arts and Humanities, Business, Performing Arts and Entertainment, Public Service and Sports.

Wonderland Pier worker in Ocean City, NJ, dies after fall

May 2, 2022

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UPDATE: KYW-TV identified the worker who was killed while Robert W. Sanger, 62, of Pittsgrove, Salem County. Our original report continues below.

An employee of a subcontractor at Gillian’s Wonderland Pier in Ocean City died Monday after falling while working there.

A brief statement from Gillian’s as posted on social media reads,

We are saddened to report that a contractor employee working on an elevator at Gillian’s Wonderland Pier suffered a fatal injury on Monday morning.

According to a first report of the Atlantic City pressthe accident happened around 10:30 a.m. while work was underway on the park’s Ferris wheel.

Attraction operators say they are cooperating with authorities as an investigation into the accident is ongoing.

This is a developing story that will be updated when more information becomes available.

WATCH: States with the most new small businesses per capita

How the World Seen New Jersey—1940s to 1980s

This is how New Jersey saw the world from 1940 to 1980. All of these photos are from AP and Getty publications, which means they were used in a magazine or newspaper. There have been many inventions and stories made in New Jersey. Check the photos below.

All the NJ Pizza Restaurants Barstool’s Dave Portnoy Reviewed

Dave Portnoy, commonly known as El Presidente, is the founder of Barstool Sports. Somewhere along the way, he decided to start reviewing local pizzerias, and the concept took off. Here are all the New Jersey pizzerias Dave has stopped at, and how he rated them.

Financial comparison: First Interstate BancSystem (NASDAQ: FIBK) and First Business Financial Services (NASDAQ: FBIZ)

May 1, 2022

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First business financial services (NASDAQ: FBIZGet a rating) and First Interstate BancSystem (NASDAQ: FIBKGet a rating) are both finance companies, but which stock is superior? We’ll compare the two companies based on valuation strength, profitability, risk, earnings, institutional ownership, analyst recommendations and dividends.

Analyst Recommendations

This is a summary of recent ratings and target prices for First Business Financial Services and First Interstate BancSystem, as provided by MarketBeat.com.

Sales Ratings Hold odds Buy reviews Strong buy odds Rating
First business financial services 0 1 1 0 2.50
First interstate banking system 0 2 1 0 2.33

First Business Financial Services currently has a consensus price target of $34.00, indicating a potential downside of 1.93%. First Interstate BancSystem has a consensus price target of $45.00, indicating a potential upside of 38.38%. Given the higher possible upside of First Interstate BancSystem, analysts clearly believe that First Interstate BancSystem is more favorable than First Business Financial Services.

Insider and Institutional Ownership

58.3% of First Business Financial Services shares are held by institutional investors. By comparison, 66.8% of First Interstate BancSystem’s shares are held by institutional investors. 6.1% of the shares of First Business Financial Services are held by insiders of the company. By comparison, 22.0% of the shares of First Interstate BancSystem are held by insiders of the company. Strong institutional ownership indicates that hedge funds, endowments, and large fund managers believe a stock is poised for long-term growth.

Volatility and risk

First Business Financial Services has a beta of 0.81, meaning its stock price is 19% less volatile than the S&P 500. In comparison, First Interstate BancSystem has a beta of 1.03, meaning its stock price is 3% more volatile than the S&P 500. .

Benefits and evaluation

This chart compares the revenue, earnings per share, and valuation of First Business Financial Services and First Interstate BancSystem.

Gross revenue Price/sales ratio Net revenue Earnings per share Price/earnings ratio
First business financial services $124.10 million 2.36 $35.76 million $4.05 8.56
First interstate banking system $656.00 million 3.08 $192.10 million $1.92 16.94

First Interstate BancSystem has higher revenue and profit than First Business Financial Services. First Business Financial Services trades at a lower price-to-earnings ratio than First Interstate BancSystem, indicating that it is currently the more affordable of the two stocks.

Profitability

This table compares the net margins, return on equity and return on assets of First Business Financial Services and First Interstate BancSystem.

Net margins Return on equity return on assets
First business financial services 28.81% 16.00% 1.33%
First interstate banking system 29.28% 10.07% 1.04%

Dividends

First Business Financial Services pays an annual dividend of $0.79 per share and has a dividend yield of 2.3%. First Interstate BancSystem pays an annual dividend of $1.64 per share and has a dividend yield of 5.0%. First Business Financial Services pays 19.5% of its profits as a dividend. First Interstate BancSystem pays 85.4% of its earnings as dividends, suggesting it may not have enough earnings to cover its dividend payment in the future. First Business Financial Services has increased its dividend for 10 consecutive years and First Interstate BancSystem has increased its dividend for 9 consecutive years.

Summary

First Interstate BancSystem beats First Business Financial Services on 10 out of 16 factors compared between the two stocks.

About First Business Financial Services (Get a rating)

First Business Financial Services, Inc. operates as a banking holding company for First Business Bank which provides commercial banking products and services to small and medium-sized businesses, business owners, executives, professionals and high net worth individuals. The Company offers deposit products, such as non-interest bearing transaction accounts, interest bearing transaction accounts, money market accounts, term deposits and certificates of deposit, as well as credit cards. It also offers lending products, including commercial real estate loans, commercial and industrial loans, small business administration loans and direct finance leases, as well as consumer and other loans comprising the value net of property, first and second mortgages and other personal loans for business and executive clients. The company offers commercial lending, asset-based lending, equipment financing, accounts receivable financing, vendor financing, floor plan financing, cash management services and employee retirement plans. business ; trust and estate administration, financial planning, investment management and private banking; and investment portfolio administration, asset-liability management, and asset-liability management process validation services for other financial institutions. First Business Financial Services, Inc. was founded in 1909 and is headquartered in Madison, Wisconsin.

About First Interstate BancSystem (Get a rating)

First Interstate BancSystem logoFirst Interstate BancSystem, Inc. operates as a bank holding company for First Interstate Bank which provides a range of banking products and services in the United States. It offers various traditional deposit products, including checks, savings deposits and term deposits; and repurchase agreements primarily for commercial and municipal depositors. The Company also offers real estate loans including commercial real estate, construction, residential, agricultural and other real estate loans; consumer loans including direct personal loans, credit card loans and lines of credit and indirect loans; variable and fixed rate commercial loans for small and medium sized manufacturing, wholesale, retail and service businesses for working capital needs and business expansion; and agricultural loans. Additionally, it provides a range of trust, employee benefits, investment management, insurance, agency and custodial services to individuals, businesses and non-profit organizations. In addition, the Company provides marketing, credit review, loan servicing, credit card issuance and servicing, mortgage sales and servicing, indirect purchase and processing of consumer loans, loan collection and other operational services, as well as online and mobile banking. It serves individuals, businesses, municipalities, and other entities in a variety of industries, including agriculture, construction, education, energy, government services, healthcare, hospitality, housing, l mining, professional services, real estate development, retail, technology, tourism and wholesale. Trade. As of December 31, 2021, it operated 147 banking offices, including individual drive-through facilities in communities in Idaho, Montana, Oregon, South Dakota, Washington, and Wyoming. The company was incorporated in 1971 and is based in Billings, Montana.



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Bird flu is suspected cause of death of six geese in Rochester Park

April 28, 2022

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Rochester, MN (KROC-AM News) – Avian flu is the suspected cause of death for six Canada geese found in Silver Lake Park.

City officials said a Rochester resident reported six dead Canada geese in the park. The Minnesota DNR has removed the remains and is testing for highly pathogenic avian influenza (HPAI).

If the geese test positive for HPAI, City of Rochester employees who potentially had contact with the infected birds will be monitored by the Minnesota Department of Health’s (MDH) Zoonotic Disease Unit.

According to the Centers for Disease Control and Prevention (CDC), infections in people are rare. However, the disease can spread when enough of the virus gets into a person’s eyes, nose or mouth, or is inhaled. The spread of bird flu viruses from an infected person to close contact is rare, and when it has occurred has not led to continued spread among people.

Kim David/TSM

Kim David/TSM

“It’s rare to find a number of dead geese in the park with no apparent injuries,” Rochester Parks and Recreation Director Paul Widman said. We are taking precautions and working with county and state authorities to prepare for bird flu.

Widman said Rochester city parks will continue to be open to the public, but attendees should follow guidelines provided by Olmsted County Public Health (OCPH).

“Keeping away from wildlife is always recommended. Since the geese are currently in their nesting season, they tend to be a bit more aggressive than usual,” Widman said. “Park participants are encouraged to stay away from geese and other waterfowl.”

Kim David/TSM

Kim David/TSM

When bird flu is detected in Minnesota, a response zone is created around the infected premises to control movement and establish an area for testing and surveillance protocols to be performed. The Minnesota Board of Animal Health will determine if other birds near the park are infected.

Although people are not susceptible to bird flu, advice from the Centers for Disease Control and Prevention (CDC) to prevent exposure includes:

  • Avoid direct contact with wild birds and observe them only from a distance.
  • Avoid contact with poultry that appear sick or dead.
  • Avoid contact with surfaces that appear to be contaminated with the droppings of wild or domestic birds
  • Wear gloves and wash your hands with soap and water if you must handle wild birds or sick or dead poultry.
  • Wear respiratory protection, such as a medical mask, when handling birds.
  • Change clothes before contact with healthy poultry and domestic birds.

Residents who keep chickens, ducks or other birds at risk for HPAI should follow guidelines provided by the Minnesota Department of Animal Health.

WATCH: States with the most new small businesses per capita

The popular New Jersey brunch restaurant will now offer franchises

April 26, 2022

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Apparently, the concept of a restaurant that only serves breakfast, lunch and brunch is proving popular, as Turning Point announced its first franchise deal.

There are already 21 Turning Points in New Jersey, Pennsylvania and Delaware (13 in NJ).

The upcoming 22 in Montgomery County, Pennsylvania, specifically in Upper Dublin, will be the first franchise location.

In a statement, the company said Turning Point is reinventing the breakfast, brunch and lunch experience by offering unique, creatively designed seasonal options in an environment that feels like home.

The restaurants are open from 7:30 a.m. to 3 p.m.

The company says the limited hours make owning a franchise even more attractive, providing a better quality of life for the owner as well as the employees. “Our franchisees can say goodbye to 80-hour workweeks and say hello to spending more time with loved ones and in control of their financial destinies.”

Some of Turning Point’s menu offerings include Avocado Smash Benny, Yankee Shrimp & Cheddar Grits, ‘OMG’ French Toast, as well as French pressed coffee ground by order.

Kirk Ruoff founded Turning Point in 1998 in Little Silver.

“Over the past 23 years, we’ve honed our skills to create this special concept, and we’re looking for talented, hard-working people to help us grow,” Ruoff said. “We are looking for successful, family-oriented restaurateurs with strong community ties to represent and implement the values ​​of Turning Point.”

If you want to be a franchisee, it is better to have a lot of money; according to a release, the initial investment to become a Turning Point franchisee ranges from $695,000 to $1,195,000, which includes an initial franchise fee of $45,000.

The opening of the new site is scheduled for May.

The views expressed in the above post are those of New Jersey 101.5 talk show host Bill Doyle only.

You can now listen to Deminski & Doyle — On demand! Listen to New Jersey’s favorite radio show every day of the week. Download the Deminski & Doyle show wherever you get podcasts, on our free app, or listen now:

Inside Scarlett Johansson’s $1.8 Million Penthouse in New York City

Take a look inside Scarlett Johansson’s longtime New York penthouse, which she sold for $1.8 million.

NJ Beach Tag Guide for Summer 2022

We are coming another summer to the Jersey Shore! Before you lose yourself in the excitement of sunny days on the sand, we calculate how much seasonal/weekly/daily beach beacons will cost you, and pre-season deals you can still take advantage of!

WATCH: States with the most new small businesses per capita

Supermarket car parks targeted by thieves

April 22, 2022

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POHATCONG — There may be evidence of an ongoing scam in the parking lots of grocery stores and supermarkets in Warren County, according to police responding to the latest such incident on Thursday.

Pohatcong Township Police Department said on facebook that one of its agents was dispatched to the parking lot of Aldi to speak with an elderly victim who claimed her wallet had been stolen – but it did not happen outside that store.

Instead, the woman told police she was in her vehicle outside the ShopRite in nearby Greenwich Township earlier on Thursday when she was approached by someone she described as a hispanic man.

Police said the woman told them the man showed her lug nuts from a vehicle tire and explained, in broken English, that the pieces had come loose from his car.

When she rolled down her window, according to the inquest, the man took her wallet and fled on foot.

Pohatcong police say they have seen “several similar cases” this year which are “very alarming” and have already made one arrest.

Police Chief Scott Robb confirmed in an email to New Jersey 101.5 that the arrest stemmed from an incident about a month ago at the Pohatcong Stop & Shop.

Police say all of the encounters involved a Hispanic male, and the police department said it will release photos soon.

Anyone with further information is urged to contact the authorities.

Patrick Lavery is a reporter and anchor for New Jersey 101.5. You can reach him at [email protected]

Click here to contact an editor about a comment or correction for this story.

WATCH: States with the most new small businesses per capita

Municipal tax bill for every city and town in NJ, filed

Just under 30 cents of every $1 of property taxes collected in New Jersey supports municipal services provided by cities, townships, boroughs, and villages. Statewide, the average municipal tax bill alone in 2021 was $2,725, but that varied widely from over $13,000 in Tavistock to nothing in three townships. In addition to the $9.22 billion in taxes for municipal purposes, special tax districts that in some locations provide municipal services such as fire protection, garbage collection or economic development collected 323, $8 million in 2021.

How the World Seen New Jersey—1940s to 1980s

This is how New Jersey saw the world from 1940 to 1980. All of these photos are from AP and Getty publications, which means they were used in a magazine or newspaper. There have been many inventions and stories made in New Jersey. Check the photos below.

NJ Can’t Get Enough Legal Weed…Yet

April 22, 2022

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The first day of legal recreational weed sales saw long lines and fast sales. Many people who took the time to go said it was worth the trip even though the prices are high. It was a historic day, and most people went to take a selfie while queuing to be able to post it on social media.

On the first day, traffic backed onto Route 1 on Route 295 north to the Zen Leaf Dispensary in Lawrenceville.

Photo Dennis Malloy

Photo Dennis Malloy

Zen Leaf has three locations in New Jersey and dozens across the country. That’s a lot of overhead that businesses need to operate. There is marketing, rent, payroll, legal, etc.

The guy named Noz you met in the parking lot at Wawa or who pulls up in your driveway twice a month has none of those expenses. It can keep the price low and offer about as much variety. We had a few calls from dealers this week who said they would drop their price as low as necessary to stay competitive.

It’s a coincidence that a story came out this week warning people that drug dealers were mixing some of their products, including marijuana with fentanyl, theoretically to give their customers a bigger high and more business. . It’s definitely a danger and can happen with stronger drugs, but unlikely with weed.

New Jersey Recreational Cannabis

PA

Was this story started this week to encourage weed smokers to ditch their street vendor and head to state-regulated dispensaries? You can form your own opinion on that.

The other reason your dealer may offer it for less besides overhead is taxes. And we know the state of New Jersey is more addicted to tax money than a heroin addict. They didn’t legalize recreational weed because they wanted to advance the cause of freedom for consenting adults.

The reason most often cited is social justice, most citing the impact of drug laws on minorities. Nice cover, but IT’S THE MONEY, STUPID! They want everything they can grab to keep the government growing.

The views expressed in the above post are those of New Jersey 101.5 talk show host Dennis Malloy only.

You can now listen to Dennis & Judi — On demand! Listen to New Jersey’s favorite Best Friends anytime, anywhere, and any day of the week. Download the Dennis & Judi show wherever you get podcasts, on our free app, or listen now:

WATCH: States with the most new small businesses per capita

New Jersey lawyer and a judge dig into cops getting high

April 21, 2022

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He’s a New Jersey State Senator by day, but by night Jon Bramnick is known as “New Jersey’s Funniest Lawyer” and this Saturday night he’ll be appearing at Catch A Rising Star at the Princeton Hyatt Regency with Vince August, a Municipal Court judge who ditched the bench to do stand-up.

Bramnick and August were guests on my radio show New Jersey 101.5 and the controversial topic of “Now that we’ve legalized recreational marijuana, should the New Jersey police be able to get high on their day off?”

You can listen to the request from 0:59:30:

Original photo source Adobe Stock by Iarygin Andrii

original photo source Adobe Stock Iarygin by Andrii

“It’s new because how to tell someone that you can not do something legal?” said August. “We say this because marijuana remains in your bloodstream longer, unlike alcohol, but it does not necessarily mean you harm. »

August, who tours with Trevor Noah, continued with his tongue firmly planted in his cheek.

“Here’s the thing about cops getting high. They eat a lot of donuts like that already. Do we really want these guys to really take that aspect of their lives to the next level?”

“What I do not understand,” said Bramnick, “is if they are allowed to drink alcohol and get drunk as much as they want on Saturday night. How do you claim that they should not marijuana, which is now legal, “I understand that there are demands for it but I do not understand simply. I do not really understand what the difference between them drinking on Saturday night or smoking marijuana. I lost it. “

Photo provided by Jon Bramnick

Photo provided by Jon Bramnick

“The biggest problem here,” August says, “is having cops who are DREs (Drug Recognition Experts) in marijuana because that’s a new thing. That’s a thing with alcohol. , you can pretty much tell when somebody’s drunk. But with pot, you’re gonna have to give these guys all kinds of training. Now anyone can arrest somebody for DWI, but with marijuana, these guys will all need specialized training.

The month of August relativized

“A lot of people I know, I think they’re stoned half the time anyway. And they’re not. They’re just stupid. So we have to be careful with this thing.”

Photo provided by Trevor Noah

Photo provided by Trevor Noah

August then put his tongue back in his cheek.

“If we’re going to have cops, stoned, with guns. We’re going to have guys arresting dragons, we’re going to have guys arresting dinosaurs. We can’t have cops imagining or hallucinating while they’re drive the car shooting at imaginary things. We did it with kids a few years ago with pokemon on their phones chasing imaginary things in the park. Cope is going to do pokemon only they are going to get their ass kicked.

For tickets to see Jon Bramnick and Vince August with a Q&A afterwards, click here.

The views expressed in the above post are those of New Jersey 101.5 talk show host Steve Trevelise only. Follow him on Twitter @realstevetrev.

You can now listen to Steve Trevelise – On demand! Learn more about the personalities of New Jersey and what makes the Garden State interesting. Download the issue of Steve Trevelise wherever you get podcasts on our free app, or listening to now:

NJ Beach Tag Guide for Summer 2022

We reach another summer at the Jersey shore! Before you get lost in the excitement of sunny days on the sand, we calculate how much cost you seasonal beach tags / weekly / daily, and offers pre-season you can still enjoy!

WATCH: States with the most new small businesses per capita

A “housing shortage” amid a building boom that is outpacing household growth?

April 19, 2022

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Something has to give.

By Wolf Richter for WOLF STREET.

Builders began construction of 147,400 private homes of all types in March, the biggest March since 2006. Housing starts are highly seasonal and peak in the summer. This included:

  • 99,100 single-family homeswhich was lower than March 2021 (102,800 homes), but both were the largest March starts since 2007.
  • 46,700 units in buildings with 5+ units, such as rental apartments and condos. It was the biggest month — any month, not just March — since 1986, as the boom in multi-family building construction continues, undisturbed by rumors of some sort of urban exodus.

In terms of seasonally adjusted annual rateBuilders began construction at a pace of 1.79 million housing units of all types in March, the highest for any month since June 2006.

Single-Family Homes vs. Units in Multi-Family Buildings.

Single-family housing starts, on a seasonally adjusted annual basis, fell from February to 1.20 million in March, in the same relatively high range that has prevailed since the end of 2020 and is measured up there with 2007 (red line in the graph below).

Housing starts in buildings with five or more units reached a seasonally adjusted annual rate of 574,000 units. This and the January 2020 spike were the largest multi-family housing starts since 1986 (purple line):

Construction and the industries it supports are important parts of the US economy. A downturn in the construction industry can significantly contribute to an overall economic recession.

Prior to the Great Recession, housing starts peaked in 2005 after years of overbuilding, then entered a long period of slowdown. The Great Recession didn’t begin until December 2007, by which time housing starts had plunged. Housing starts bottomed out in early 2009 and sat in the trash for another two years before starting to recover.

Today, housing starts are booming and there are no signs of a slowdown in construction, beyond the problems imposed on the industry by shortages of materials and labor that are delaying construction projects.

The “housing shortage?

On a theoretical level, let’s compare the annual rate of housing starts to the annual rate of increase in the number of households. It’s not 100% on target because housing starts alone don’t include the (relatively few) housing units demolished to make way for new housing units. But this serves as a rough indication of the trend over time.

In the chart below, the horizontal purple line marks the average annual increase in the number of households since 2000, according to Census Bureau annual data through 2020, an average increase of 1.17 million households per year. Annual household growth varies from year to year. In 2020, household growth actually turned negative for the first time in annual data dating back to 1948.

A household is defined by the people living in a dwelling (an address), whether it is a single person or a multigenerational family or a group of roommates. As long as they live in the same dwelling, it is a “household”.

Where the red line – the seasonally adjusted annual rate (SAR) of housing starts of all types – is above the purple line, housing units were built faster than households were added in mean.

As the chart shows, during the housing construction boom up to 2005, there was significant overbuilding, which later contributed to the housing slump.

Even as the housing crisis took hold and the land was flooded with vacant and newly built housing units, housing starts continued to outpace household growth until 2007, when housing starts had plunged enough that there were fewer housing starts over the next few years. than average household growth, and these additional households began to absorb housing units (purchased or rented).

Between 2015 and 2019, housing starts and household growth were roughly in balance. But they’re not in balance now – with housing starts significantly outpacing average household growth, especially in light of negative household growth in 2020.

The much-quoted “housing shortage” picture is clouded by many factors, including the building boom that is outpacing household growth. Many households have acquired more than one dwelling, while the other dwellings are vacant most of the time, if not all of the time. It could be a second home or third home, a vacation rental, or a home they haven’t sold yet after moving in order to ride the market all the way and resell it (I know a few people who do precisely that).

However, when investors buy homes and then put them on the rental market, there is no impact on the overall “housing shortage”. It is when someone buys a second home or vacation home that sits mostly unoccupied, or is converted into a vacation rental, that a dwelling is retired as a dwelling.

What there is, however, is a shortage of housing that is so priced that people can actually afford to live in it, renting or buying, after the massive price increases in recent years. years and rent increases in many cities.

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11 movies to see in Bay Area theaters during SFFilm 2022

April 17, 2022

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Cicero Lucas plays a teenager who dreams of traveling to space in “Mars One”. Photo: SFILM

For the first time since 2019, the San Francisco International Film Festival will be held in theaters across the Bay Area, bringing together numerous films between its opening drama “Stay Awake,” screened Thursday, April 21, and its closes April 30. “Cha Cha really smooth.”

Here are some of the highlights of the festival’s lineup:

“March One”

A teenager dreams of one day joining a colony on Mars, while his family here on Earth struggles but strives in this lively Brazilian drama that observes not only the daily life of the clan, but also their individual ambitions and the secrets they hold. are hiding.

8:45 p.m. Friday, April 22. Roxie Theater, 3117 16th St., SF; 7:45 p.m. Saturday, April 23. Berkeley Art Museum and Pacific Film Archive, 2155 Center St., Berkeley.

French volcanologists Maurice and Katia Krafft in “Fire of Love” by Berkeley filmmaker Sara Dosa. Photo: Sandbox Films

“Fire of Love”

If ever a movie demanded to be seen on the big screen, it was this documentary from Berkeley filmmaker Sara Dosa, which premiered at the Sundance Film Festival in January. The story of French volcanologists Katia and Maurice Krafft, told through the couple’s images and photos of lava flows and ash plumes, captures the majesty and danger of an earth in motion.

Dosa, with the help of narrator Miranda July, tells a story steeped in science and romance, tracing the couple’s passion for their work and for each other.

1 p.m. Saturday, April 23. Castro Theater, 429 Castro St., SF; 5 p.m. April 24. Berkeley Art Museum and Pacific Film Archive.

Era Balaj, Flaka Latifi and Andi Bajgora in “The hill where the lionesses roar”. Photo: Hugo Paturel / SFFILM

“The hill where the lionesses roar”

Franco-Kosovar actress Luàna Bajrami (“Portrait of a Lady on Fire”) was only 18 when she made this film, her writing-directing debut in which three young Kosovar women refuse to accept the hopeless future that awaits them and star in spectacular scenes. fashion.

2:45 p.m. Saturday, April 23. Vogue Theater, 3290 Sacramento St., SF

Filmmaker Christine Choy in “The Exiles”. Photo: SFILM

“The exiled”

More than 30 years ago, Oscar-nominated director Christine Choy sought out the exiled leaders of China’s 1989 Tiananmen Square protests, but abandoned the project. Now she’s handing over the reins to two of her former New York University students, Violet Columbus (daughter of ‘Mrs. Doubtfire’ director Chris Columbus) and Ben Klein for this gripping documentary – winner of the Grand Jury Prize for Documentary American Sundance – blending old and new footage in an examination of the aftermath of a strangled revolution.

3 p.m. Saturday, April 23. Victoria Theatre, 2961 16th St., SF; 2:00 p.m. 24 April. Berkeley Art Museum and Pacific Film Archive.

Russian opposition leader Alexei Navalny is the subject of the documentary ‘Navalny’. Photo: SFFilm

‘Navalny’

When a would-be assassin poisons Russian politician Alexei Navalny, Daniel Roher’s documentary becomes as much a taut thriller as it is a profile of a man with the temerity to oppose Vladimir Putin.

Essential viewing in the wake of Russia’s invasion of Ukraine, “Navalny” – winner of the Audience Awards and Festival Favorite at Sundance – provides foreshadowing and context to current events rocking the world.

4:30 p.m. Saturday, April 23. Castro Theatre.

Martin Miller as an aspiring musician and a teenager pining for his best friend in the Argentinian coming-of-age drama “Sublime.” Photo: SFFilm

‘Gorgeous’

A teenager grapples with new erotic feelings for his childhood best friend and bandmate, as they prepare to put on a show, in this compelling Argentinian coming-of-age tale.

In his feature debut, writer-director Mariano Biasin elicits strong performances from his young cast in a winning drama that captures youthful aspirations, all set to a seductive garage rock beat.

9 p.m. on Saturday, April 23. Victoria Theatre.

John Boyega stars in the hostage drama “892,” the 65th SFFilm Festival’s flagship film on April 27 at the Castro Theater. Photo: Courtesy of SFFilm

‘892’

This slow-burning, headline-ripping thriller – the festival’s flagship film – stars John Boyega as an Iraqi war veteran who takes hostages at a Georgian bank in his campaign for Veterans Affairs to do what it takes for him.

Nicole Beharie and Selenis Leyva as hostages, and the late Michael Kenneth Williams as police negotiator, provide strong support. But that’s Boyega’s show, and it’s fascinating.

7:30 p.m. April 27. Castro Theatre.

Haley Lu Richardson and Owen Teague play estranged siblings in “Montana Story.” Photo: SFILM

“History of Montana”

Former San Franciscans David Siegel and Scott McGehee (“What Maisie Knew”) visit the land of Big Sky for their first film in nearly a decade.

Against the natural beauty of rural Montana, an ugly tale of family dysfunction emerges as their father’s impending death forces the estranged siblings (both terrific Haley Lu Richardson and Owen Teague) to come together and confront the issues that separated them.

8:30 p.m. April 28. Victoria Theatre.

Jeremy Irvine as Ivor Novello and Jack Lowden as Siegfried Sassoon in Terence Davies’ ‘Benediction’. Photo: Laurence Cendrowicz / Road Attractions

‘Blessing’

Terence Davies’ first feature film since the 2016 Emily Dickinson biopic “A Quiet Passion” pays homage to fellow poet, Siegfried Sassoon, in a drama that draws a stark contrast between his fiery youth and muted old age.

Jack Lowden and Peter Capaldi star as Sassoon in a gorgeous film that uses the writer’s verse as the story weaves through time.

4 p.m. April 29. Berkeley Art Museum and Pacific Film Archive; 3:30 p.m. April. Castro Theatre.

Oakland filmmaker Reid Davenport films from his wheelchair-bound perspective in “I Didn’t See You There.” Photo: Reid Davenport / SFFilm

“I didn’t see you there”

Oakland filmmaker Reid Davenport won the American Documentary Achievement Award at Sundance for this documentary shot entirely from his point of view as he navigates everyday life in a wheelchair.

A circus tent popping up near Davenport’s apartment inspires commentary on freak show history and attitudes towards those seen as ‘freaks’, while blocked railings and other obstacles underscore the recklessness and the microaggressions of today’s world.

6 p.m. April 29. Victoria Theatre; 3:30 p.m. April. Berkeley Art Museum and Pacific Film Archive.

Wanda Johnson, mother of Oscar Grant, in the documentary ‘Black Mothers Love and Resist’. Photo: SFILM

“Black Mothers Love and Resist”

The activism of Wanda Johnson, Oscar Grant’s mother, in the years following her death in 2009 on a BART platform is at the forefront of this documentary, focusing on mothers left behind when their children are killed by the police.

While depicting families’ emotional wounds and survivors’ efforts to change laws and institutions, the film also depicts Johnson helping Angela Williams, a woman from Troy, Alabama, whose son survived a beating by the police. police, fight for justice.

8:30 p.m. April 29. Roxie Theatre.



LEO HLDG: Local Bounti® Closes Acquisition of Pete’s® – Form 8-K

April 7, 2022

Montana Lending

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Local premium® Closes Acquisition of Pete’s®

HAMILTON, Montana, April 5, 2022 – Local Bounti Corporation (NYSE: LOCL, LOCL WS) (“Local Bounti Corporation®” or the “Company”), a groundbreaking U.S. indoor farming company combining the best aspects of vertical and greenhouse growing technologies, today announced that it has completed its acquisition of the California-based complementary indoor farming company Hollandia Produce Group, Inc., which operates as Pete®as of April 4, 2022.

“Combining Pete’s operational scale and retail distribution footprint with our peak unit level economics creates immediate value for our employees, customers, partners and shareholders,” said Craig Hurlbert, co – CEO of Local Bounti. “This acquisition is immediately accretive and opens the door to further margin expansion as we implement our proprietary Stack & Flow technology. in Pete’s facilities and unlock additional operational synergies. Combined, this platform is well positioned to tackle the growing market for environmentally controlled agricultural products, which is expected to reach $30 billion in the United States by 2025, and generate accelerated returns on invested capital. . We welcome all 130 Pete employees to the Local Bounti family and look forward to a seamless onboarding process. »

Magda Overgaag, co-founder, matriarch of Hollandia Produce Group, Inc. and mother of Pete, said, “The closing of the transaction with Local Bounti marks another important milestone for my family and our long history in the industry. CEA which started over 100 years ago when my father and my husband’s father started growing under glass in the Netherlands. We immigrated our family to California in 1968 and have been innovating in cultivation techniques for various cultures ever since. Today, Pete’s is a trusted brand that provides the highest quality live lettuce varieties in the industry. We couldn’t be more excited about this transaction, which ensures our family’s legacy will live on and be a formidable force in the CEA industry for generations to come.

Local Bounti financed the purchase price of $122.5 million, with a combination of $92.5 million in cash provided under Local Bounti’s loan facility with Cargill, and $30.0 million dollars of consideration payable in common shares of Local Bounti. Along with the closing, Local Bounti also announced the appointment of Brian Cook as President of Local Bounti, who will report to co-CEOs Craig Hurlbert and Travis Joyner. Mr Cook previously served as Chairman of Pete’s from November 2017 until its acquisition by Local Bounti.

About Local Bounti®

Local Bounti is a leading Controlled Environment Agriculture (CEA) company redefining conversion efficiency and environmental, social and governance (ESG) standards for indoor agriculture. Local Bounti operates an advanced indoor grow facility in Hamilton, Montana, a few hours drive from its retail and restaurant partners. Reaching retail shelves in record time after harvest, Local Bounti products are superior in taste and quality to traditional field-grown greens. USDA Harmonized Good Agricultural Practices (GAP Plus+) and Local Bounti non-genetically modified organism (GMO) products are sustainably grown using proprietary technology 365 days a year, pesticide free no herbicides, and using 90% less land and 90% less water than conventional outdoor farming methods. With a mission to “bring our farm to your kitchen with as few miles as possible,” Local Bounti disrupts the growing and delivery of produce. Local Bounti is also committed to making meaningful connections and giving back to each of the communities it serves. To learn more, visit localbounti.com or follow the company on LinkedIn for the latest news and developments.

Forward-looking statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. In some instances, you may identify these forward-looking statements by words such as “anticipate, “”approximate”, “believe”, “commit”, “continue”, “could”, “estimate”, “expect”, “hope”, “intend”, “may”, “prospects”, “plan”, “project”, “potential”, “should”, “should”, “shall” and other similar words or expressions. Forward-looking statements reflect the Company’s current expectations or beliefs regarding future events and actual events may differ materially from historical results or current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which are not guarantees of future performance and are subject to a number of uncertainties, risks, assumptions and other factors, many of which are beyond under the control of the Company. . The forward-looking statements contained in this press release address a variety of topics, including, for example, the Company’s business prospects following the transaction. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: the effects of disruption to Local Bounti’s business as a result of the transaction; the impact of transaction costs on Local Bounti’s 2022 interim and full-year 2022 financial results; Local Bounti’s ability to retain Pete’s customers after completion of the transaction; Local Bounti’s ability to realize the expected benefits of the transaction; uncertainty of water supply (and related uncertainty of certain water use rights) for Pete’s facilities located in California; Local Bounti’s ability to effectively integrate acquired operations into its own operations; Local Bounti’s ability to retain and hire key personnel; the uncertainty of projected financial information; diversion of management’s time on transaction-related matters; the increased leverage of Local Bounti due to the additional indebtedness incurred in connection with the transaction; restrictions contained in Local Bounti’s debt facility agreements with Cargill; Local Bounti’s ability to repay, refinance, restructure and/or extend its indebtedness upon maturity; and unknown liabilities that may be assumed in the transaction. In addition, actual results are subject to other risks and uncertainties that relate more broadly to the Company’s overall business, including Local Bounti’s ability to generate revenue; the risk that Local Bounti will never achieve or maintain profitability; the risk that Local Bounti will not be able to effectively manage its future growth; the risk that Local Bounti will not be able to obtain the necessary additional capital when needed on acceptable terms, or at all; Local Bounti’s ability to construct additional facilities; reliance on third parties for construction, delays in delivery of materials and supply chains and fluctuation in material prices; Local Bounti’s ability to reduce cost of goods sold over time; the potential for damage or problems with Local Bounti’s CEA facilities; Local Bounti’s ability to attract and retain qualified employees; Local Bounti’s ability to develop and maintain its brand or any brands it may acquire; Local Bounti’s ability to maintain its corporate culture or focus on its vision as it grows; Local Bounti’s ability to execute its growth strategy; the risks of diseases and pests destroying crops; Local Bounti’s ability to compete successfully in the highly competitive natural foods market; Local Bounti’s ability to defend against intellectual property infringement claims; changes in consumer preferences, perception and consumption habits in the food industry; seasonality; Local Bounti’s ability to achieve its sustainability goals; and other risks and uncertainties disclosed from time to time, including those under “Risk Factors” and “Forward-Looking Statements” in Local Bounti’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, filed with the Securities and Exchange Commission (the SEC) on March 30, 2022, as supplemented by subsequent quarterly reports on Form 10-Q and annual reports on Form 10-K, as well as other reports and documents that Local Bounti files from time to time with the SEC. Local Bounti cautions that the above list of factors is not exclusive and cautions readers not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Local Bounti does not undertake or accept any obligation or commitment to update or revise any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

Contact:

Kathleen Valiasek, Chief Financial Officer

Local bonus

[email protected]

Warning

Local Bounti Society published this content on 07 April 2022 and is solely responsible for the information contained therein. Distributed by Audienceunedited and unmodified, on Apr 07, 2022 21:17:33 UTC.

© Publicnow 2022

Sales

Net revenue

Net debt

P/E ratio
Yield
Capitalization 325 million
325 million
EV / Sales -1
EV / Sales 0
# of employees
Floating


Duration :

Period :




LEO HLDG Technical Analysis Chart |  MarketScreener



Evolution of the income statement


Participating NJ Applebee’s® Announces Late Night Dollar Dollar Beverage Special for All of April | national news

April 6, 2022

Montana Lending

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Every night from 10:00 p.m. until closing, Applebee’s, owned by Doherty Enterprises, New Jersey, will be giving away $1 ‘Dollaritas’

ALLENDALE, NJ, April 6, 2022 (SEND2PRESS NEWSWIRE) — Applebee’s Neighborhood Grill & Bar welcomes spring with a $1 late night drink special every night in April from 10 p.m. until closing. Starting today and through April 30, 2022, customers can enjoy a tasty Dollarita Margarita ($1), plus select half-price appetizers, at Applebee’s® restaurants in New Jersey that are owned and operated by local franchisee Doherty Enterprises (see list of participating locations below).

The famous $1 margarita – known as Dollarita – will be available at Applebee’s® stores owned by Doherty Enterprises throughout the Garden State.

The Dollarita is a classic drink – and now this neighborhood favorite can be enjoyed for just a dollar. It’s refreshing and affordable, perfect for rocking your late nights.

“This unbeatable late-night beverage offering is our special way to celebrate the arrival of spring with our guests,” said Tim Doherty, CEO of Doherty Enterprises. “There’s no better way to satisfy a late-night craving than with a $1 drink and one of our signature half-price appetizers.”

The NJ Applebee’s® locations, owned and operated by Doherty Enterprises, participating in this special offer are:

New Jersey: Brick, Bridgewater, Butler, Clark, Clifton, Edison, Garfield, Hackensack, Hackettstown, Hillsborough, Howell, Jersey City, Kearny, Lacey, Linden, Manahawkin, Manalapan, Manchester, Middletown, Milltown, Mt. Olive, Newton, North Bergen, Ocean, Paramus, Parsippany, Phillipsburg, Piscataway, Rockaway, Tinton Falls, Totowa and Union.

For more information and other limited time offers from Applebee’s, stop by your local Applebee restaurant.

*Offer valid only for on-site dining at Applebee’s® locations owned and operated by Doherty Enterprises in New Jersey and guests must be 21 years of age or older to enjoy responsibly. Offer valid from 04/01/22 to 04/30/22. Learn more: https://www.applebees.com/fr

About Doherty Enterprises, Inc.

Founded in 1985, Doherty Enterprises owns and operates more than 130 restaurants in New Jersey, New York, Florida and Georgia, including five restaurant concepts: Applebee’s Neighborhood Grill & Bar, Panera Bread, Chevys Fresh Mex and its own concepts, The Shannon Rose Irish Pub and Spuntino Wine Bar and Italian Tapas. Additionally, Doherty Enterprises is also a Sola Salon Studios franchisee with 8 locations in Staten Island and New Jersey. Doherty Enterprises is ranked 11th among the Top 200 Franchisees in the United States by Restaurant Finance Monitor, is recognized as the 77th Largest Foodservice Company in the United States by Nation’s Restaurant News, the 73rd Largest Privately Owned Company in the Metro Area of New York by Crain’s Business and 34th Largest Private Company in New Jersey by NJBIZ.

Doherty’s vision is to be the “best foodservice company in the communities we serve” and its mission is to “wow every guest every time, wow our employees, wow our communities and wow our suppliers”. Doherty Enterprises has also lent a helping hand to team members and their immediate families when they are financially burdened through the WOW a Friend Foundation. To date, the foundation has helped over 3,100 people and donated over $4.1 million directly to those in need. Learn more: https://www.dohertyinc.com/

About Applebee’s®

As one of the world’s leading casual dining brands, Applebee’s Neighborhood Grill + Bar serves as an American kitchen table, offering diners a lively dining experience that combines simple, mouth-watering American fare with classic drinks and drafts. local. Applebee’s makes it easy for family and friends to communicate with each other, whether in a dining room or the comfort of a living room, Eatin’ Good in the Neighborhood™ is a familiar and affordable escape from the everyday. Applebee Restaurants are owned and operated by entrepreneurs who are dedicated to not only serving great food, but also building the communities we call home. From raising money for local charities to hosting community fundraisers, Applebee’s is always Doin’ Good in the Neighborhood®. Applebee’s franchised and company-operated operations included 1,680 Applebee restaurants in the United States, two U.S. territories, and 11 countries outside the United States as of December 31, 2021. This number does not include the two shadow kitchens in ‘Applebee’ (small kitchens without store-front presence, used to fulfill off-site orders) and eight international Applebee ghost kitchens. Applebee’s is franchised by subsidiaries of Dine Brands Global Inc. [NYSE: DIN]which is one of the largest full-service catering companies in the world.

MEDIA CONTACT:

Lynn Munroe

845-548-121

NEWS SOURCE: Doherty Enterprises

This press release has been issued on behalf of the source of the information (Doherty Enterprises) which is solely responsible for its accuracy, by Send2Press® Newswire. The information is believed to be accurate but not guaranteed. Story ID: 80590 APDF-R8.5

© 2022 Send2Press®, a press release and electronic marketing service of NEOTROPE®, California, USA.

To see the original version, visit: https://www.send2press.com/wire/participating-nj-applebees-announces-special-late-night-one-dollar-drink-offer-for-the-entire-month-of-april/

Disclaimer: The content of this press release was not created by The Associated Press (AP).

Local Bounti® closes Acquisiti – GuruFocus.com

April 5, 2022

Montana Lending

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HAMILTON, Mont., April 5, 2022 /PRNewswire/ — Local Bounti Corporation (NYSE: LOCL, LOCL WS) (“Local Bounti®” or the “Company”), a revolutionary U.S. indoor farming company combining the best aspects of vertical and greenhouse growing technologies , today announced the successful completion of its acquisition of CaliforniaHollandia Produce Group, Inc., a New York-based complementary indoor farming company, trading as Pete’s®, beginning in April 42022.

“The combination of Pete’s operational scale and retail distribution footprint with our peak unit level economics creates immediate value for our employees, customers, partners and shareholders,” said Craig Hurlbert, co-CEO of Local Bounti. “This acquisition is immediately accretive and opens the door to further margin expansion as we implement our proprietary Stack & Flow Technology™ at Pete’s facilities and unlock additional operational synergies. product market, which should reach $30 billion in the United States by 2025 and generate accelerated returns on invested capital. We welcome all 130 Pete employees to the Local Bounti family and look forward to a seamless onboarding process. »

Magda Overgaagco-founder, matriarch of Hollandia Produce Group, Inc. and mother of Pete, said, “The closing of the transaction with Local Bounti marks another important milestone for my family and our long history in the CEA industry which has started over 100 years ago. ago when my father and my husband’s father started growing under glass in the Netherlands. We immigrated our family to California in 1968 and have been at the forefront of innovation in growing techniques for a variety of crops ever since. Today, Pete’s is a trusted brand that offers the highest quality live lettuce varieties in the industry. We couldn’t be more excited about this transaction, which ensures our family’s legacy will live on and be a formidable force in the CEA industry for generations to come. »

Local Bounti financed the purchase price of $122.5 millionwith a combination of $92.5 million cash provided under Local Bounti’s loan facility with Cargill, and $30.0 million consideration payable in common shares of Local Bounti. Along with the closing, Local Bounti also announced the appointment of Brian Cook as President at Local Bounti, who will report to the Co-CEOs Craig Hurlbert and Travis Joyner. Mr. Cook previously served as Chairman of Pete’s de November 2017 until its acquisition by Local Bounti.

About Local Bounti®
Local Bounti is a leading Controlled Environment Agriculture (CEA) company redefining conversion efficiency and environmental, social and governance (ESG) standards for indoor agriculture. Local Bounti operates an advanced indoor growing facility in Hamilton, Montana, a few hours drive from its retail and restaurant partners. Reaching retail shelves in record time after harvest, Local Bounti products are superior in taste and quality to traditional field-grown greens. USDA Harmonized Good Agricultural Practices (GAP Plus+) and Local Bounti non-genetically modified organism (GMO) products are sustainably grown using proprietary technology 365 days a year, pesticide free no herbicides, and using 90% less land and 90% less water than conventional outdoor farming methods. With a mission to “bring our farm to your kitchen with as few miles as possible,” Local Bounti disrupts the growing and delivery of produce. Local Bounti is also committed to making meaningful connections and giving back to each of the communities it serves. To learn more, visit localbounti.com or follow the company on LinkedIn for the latest news and developments.

Forward-looking statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. In some instances, you may identify these forward-looking statements by words such as “anticipate, “”approximate”, “believe”, “commit”, “continue”, “could”, “estimate”, “expect”, “hope”, “intend”, “may”, “prospects”, “plan”, “project”, “potential”, “should”, “should”, “shall” and other similar words or expressions. Forward-looking statements reflect the Company’s current expectations or beliefs regarding future events and actual events may differ materially from historical results or current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which are not guarantees of future performance and are subject to a number of uncertainties, risks, assumptions and other factors, many of which are beyond under the control of the Company. . The forward-looking statements contained in this press release address a variety of topics, including, for example, the Company’s business prospects following the transaction. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: the effects of disruption to Local Bounti’s business as a result of the transaction; the impact of transaction costs on Local Bounti’s 2022 interim and full-year 2022 financial results; Local Bounti’s ability to retain Pete’s customers after completion of the transaction; Local Bounti’s ability to realize the expected benefits of the transaction; uncertainty of water supply (and related uncertainty for certain water rights) for Pete’s facilities located at California; Local Bounti’s ability to effectively integrate acquired operations into its own operations; Local Bounti’s ability to retain and hire key personnel; the uncertainty of projected financial information; diversion of management’s time on transaction-related matters; the increased leverage of Local Bounti due to the additional indebtedness incurred in connection with the transaction; restrictions contained in Local Bounti’s debt facility agreements with Cargill; Local Bounti’s ability to repay, refinance, restructure and/or extend its indebtedness upon maturity; and unknown liabilities that may be assumed in the transaction. In addition, actual results are subject to other risks and uncertainties that relate more broadly to the Company’s overall business, including Local Bounti’s ability to generate revenue; the risk that Local Bounti will never achieve or maintain profitability; the risk that Local Bounti will not be able to effectively manage its future growth; the risk that Local Bounti will not be able to obtain the necessary additional capital when needed on acceptable terms, or at all; Local Bounti’s ability to construct additional facilities; reliance on third parties for construction, delays in delivery of materials and supply chains and fluctuation in prices of materials; Local Bounti’s ability to reduce cost of goods sold over time; the potential for damage or problems with Local Bounti’s CEA facilities; Local Bounti’s ability to attract and retain qualified employees; Local Bounti’s ability to develop and maintain its brand or any brands it may acquire; Local Bounti’s ability to maintain its corporate culture or focus on its vision as it grows; Local Bounti’s ability to execute its growth strategy; the risks of diseases and pests destroying crops; Local Bounti’s ability to compete successfully in the highly competitive natural foods market; Local Bounti’s ability to defend against intellectual property infringement claims; changes in consumer preferences, perception and consumption habits in the food industry; seasonality; Local Bounti’s ability to achieve its sustainability goals; and other risks and uncertainties disclosed from time to time, including those under “Risk Factors” and “Forward-Looking Statements” in Local Bounti’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021filed with the Securities and Exchange Commission (the SEC) on March 30, 2022, as supplemented by subsequent quarterly reports on Form 10-Q and annual reports on Form 10-K, and other reports and documents that Local Bounti files from time to time with the SEC. Local Bounti cautions that the above list of factors is not exclusive and cautions readers not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Local Bounti does not undertake or accept any obligation or commitment to update or revise any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

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Publication of the file gives details of the fatal accident of South Dakota AG | national news

March 31, 2022

Montana Lending

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SIOUX FALLS, SD (AP) – South Dakota Details Attorney General Jason Ravnsborg A fatal 2020 pedestrian crash was publicly revealed on Wednesday as the Legislative Assembly released unredacted portions of the accident investigation, offering a fresh look at the minutes surrounding the accident but leaving unanswered how Ravnsborg couldn’t have seen the man he hit.

Nearly 200 case files in the crash investigations and arraignment were posted online on Wednesday, allowing public scrutiny of the investigation for the first time since the fatal crash in September 2020. Parts of the investigation about the crash, including messages on Ravnsborg’s phones and photos of the body of pedestrian Joseph Boever, were redacted by the House committee.

Lawmakers wrapped up a month-long inquiry on Monday by voting to party lines t o recommend that Ravnsborg not be impeached. The House will meet on April 12 to consider the committee’s report.

Republican Attorney General last year pleaded no contest to a pair of misdemeanors in the accident and had to pay fines. He called the crash a tragic accident, insisting he didn’t realize he had killed a man until he returned to the scene the next day and found his body.

Accident investigation records revealed that Ravnsborg had been stopped more than 25 times for traffic violations, including eight times since he took office in 2019. Ravnsborg told investigators: ” I never exceed more than four”, even though he had been stopped for speeding five times. times since 2019.

The House impeachment committee also found that Ravnsborg in law enforcement interviews ‘understated or omitted, and at worst, misrepresented’ how he scrolled his cell phone while commuting from a pickup. of GOP funds the night of the crash. However, Republican lawmakers argued it did not rise to the level of an impenetrable offense because it was not part of his official “on duty” duties as Attorney General.

Ravnsborg told investigators the last thing he remembered was looking at his speedometer “and then wham.” He hit Boever.

Boever’s body suffered “multiple traumatic injuries”, according to an autopsy. A toxicology report also revealed that Boever had taken a large amount of Lorazepam, an anxiolytic, but not enough to be fatal.

Crash investigators found that Ravnborg’s car had driven completely across the shoulder of the freeway when it hit Boever. It then took 44 seconds for Ravnsborg to stop his car and dial 911, investigators found after examining his cellphone.

Ravnsborg searched the crash area, according to cellphone data, and approached within a few feet of Boever’s body. But the attorney general insisted he had not seen his body or a small flashlight he was carrying.

“I still don’t know what happened while I was driving,” Ravnsborg texted his top aides about 30 minutes after the crash.

Hyde County Sheriff Mike Volek, who responded to the scene, also said he had not seen the body. After assuming that Ravnsborg had hit a deer, Volek sent the attorney general home, lending him a personal vehicle.

However, as Volek waited for a tow truck to show up, he was disturbed that no deer had been found and took another look around the scene. He saw Boever’s flashlight shining in the grass, he told investigators, but did not look closely because he thought it was a bulb from Ravnsborg’s car.

Ravnsborg reported Boever’s death to Volek the following day after returning to the scene of the crash and finding Boever’s body.

That evening, Governor Kristi Noem was preparing to give a press conference about the crash, and her chief of staff at the time was coordinating with the attorney general’s office to release a statement saying he would cooperate with the crash. investigation, according to text messages.

But a few days later, Noem, another Republican, would push Ravnsborg to resign.

Three days after the accident and with the investigation ongoing, Ravnsborg was at the Criminal Investigation Division headquarters in Pierre when he approached an officer, Brent Gromer, who had expertise in forensic examinations of phones. laptops and asked him what investigators could find on his phones. . The accident investigation says a detective was told the interaction made Gromer “uncomfortable”, but does not say who told the detective.

The same day, the governor’s chief of staff, Tony Venhuizen, texted Ravnsborg: “Given what is happening, the governor is going to ask you to take some time off, at least until the conclusion of the investigation.”

At the end of the inquest last year, Noem publicly called for Ravnsborg’s resignation, and after avoiding jail for the accident, she would push harder for his removal.

So far it has been thwarted. Ravnsborg refused to withdraw. He also asked Ross Garber, a professor at Tulane Law School, to send a letter to the House impeachment committee opposing the impeachment because his actions “were unrelated to his office.”

Republicans on the committee agreed in a majority report that whatever Ravnsborg did wrong was not part of his job in office.