real estate

Writer market

Wall Street opens higher after surging Chinese markets

A currency trader walks near the screen showing the Korea Composite Stock Price Index (KOSPI) at a foreign exchange trading floor in Seoul, South Korea, Wednesday, March 16, 2022. Asian stocks rose on Wednesday as investors awaited a widely expected decision from the United States.  Federal Reserve on interest rate policy.  (AP Photo/Lee ​​Jin-man)

A currency trader walks near the screen showing the Korea Composite Stock Price Index (KOSPI) at a foreign exchange trading floor in Seoul, South Korea, Wednesday, March 16, 2022. Asian stocks rose on Wednesday as investors awaited a widely expected decision from the United States. Federal Reserve on interest rate policy. (AP Photo/Lee ​​Jin-man)


Wall Street adds to its gains early Wednesday as markets begin to gather hope that there may be better news on the horizon on inflation, the war in Ukraine and other worries that have unsettled investors . The S&P 500 rose 1.5% and the Nasdaq 1.7%. Chinese markets soared overnight after Beijing promised to help that country’s ailing real estate sector and its internet companies. Ukraine’s president made a direct appeal for help to US lawmakers in a speech. Later today, the Federal Reserve is expected to raise interest rates for the first time since 2018.

THIS IS A BREAKING NEWS UPDATE. AP’s previous story follows below.

NEW YORK (AP) — U.S. markets are poised to follow global stocks higher on Wednesday after Chinese leaders pledged increased support for a slowing Chinese economy, as investors awaited the outcome of a Federal Reserve meeting.

Dow Jones industrial futures rose 1.2% and S&P 500 futures gained 1.3% after Hong Kong’s benchmark jumped 9% overnight .

A variety of factors contributed to the latest rally, including comments from Ukrainian President Volodymyr Zelenskyy suggesting there was still reason to be optimistic the talks could still yield a deal with the Russian government.

Yet Russia stepped up its bombardment of the Ukrainian capital and launched new assaults on the port city of Mariupol, making bloody advances on the ground on Wednesday as Zelenskyy prepared to issue a direct appeal for more help in a rare speech by a foreign leader in the United States. Congress.

France’s CAC 40 jumped 3.5%, while Germany’s DAX gained 3.2% and Britain’s FTSE 100 rose 1.4%.

At its policy meeting later on Wednesday, the Fed is expected to raise its short-term policy rate by 0.25 percentage points. This would be the first increase since 2018, pulling it off its all-time high of near zero, and likely the start of a series of increases.

The Fed is trying to slow the economy enough to stem the high inflation that is sweeping the country while avoiding triggering a recession.

Inflation is already at its highest level in generations, and the most recent figures do not include the spike in oil prices after Russia invaded Ukraine. The move comes as central banks around the world prepare to end support for the global economy following the outbreak of the pandemic.

“The reference to ‘rearranging deck chairs on the Titanic’ is not meant to invoke despair. Rather, it is meant to convey a sense of the inevitability of the upcoming Fed tightening cycle,” said Tan Boon Heng of Mizuho Bank in Singapore.

The surge in Hong Kong’s Hang Seng index was a respite from recent selloffs by Chinese tech companies and other pressures that had taken it to six-year lows.

At a Cabinet meeting on Wednesday, officials promised to “reinvigorate the economy” with “support measures” for struggling real estate and other measures, the official Xinhua news agency reported.

At a meeting led by Vice Premier Liu He, President Xi Jinping’s top economic adviser, Cabinet officials called on government agencies to release other “market-friendly” policies, Xinhua said.

He also said talks between Chinese and U.S. regulators on resolving a dispute over rules governing foreign companies listed on U.S. markets had progressed.

The Hang Seng gained 9.1% to 20,087.50. The Shanghai Composite Index added 3.5% to 3,170.71.

Shares of e-commerce giant Alibaba Group Holding jumped 23.6%. Tencent Holdings, operator of popular messaging service WeChat, jumped 23% and live streaming site Kuaishou Technology added 31.4%.

Japan’s benchmark Nikkei 225 rose 1.6% to end at 25,762.01. Australia’s S&P/ASX 200 gained 1.1% to 7,175.20. The South Korean Kospi gained 1.4% to 2,659.23.

Renewed concerns about COVID-19 in some regions along with a long list of other concerns have caused wild hour-to-hour swings in the markets over the past few weeks. The war in Ukraine has pushed up the prices of oil, wheat and other commodities that the region produces. This increases the threat that already high inflation will persist and combine with a potentially stagnant economy.

Benchmark U.S. crude rose 49 cents to $96.93 a barrel in electronic trading on the New York Mercantile Exchange.

A barrel of US crude fell 6.4% to $96.44 on Tuesday. It had briefly topped $130 last week when concerns about supply disruptions due to the war in Ukraine were at their height.

Brent crude, the international price standard, rose 11 cents to $100.02 a barrel.

In other developments, nickel trading was halted again on the London Metal Exchange on Wednesday after briefly recovering from a week-long suspension when the price of the metal soared to over $100,000 a day. tonne. The exchange said it was investigating a “system error” that resulted in a few trades being made below the lower price limit introduced to curb volatility.

Russia is the world’s third largest producer of nickel. Its price and that of many other commodities rose on speculation of possible supply disruptions as Russia faces widening economic sanctions following its invasion of Ukraine.

In currency trading, the US dollar stood at 118.29 Japanese yen, little changed from 118.31 yen. The Euro traded at $1.1002, down from $1.0955 previously.

Starbucks shares rose more than 5% in premarket trading after chairman and chief executive Kevin Johnson announced he would retire next month. The company’s former CEO and founder, Howard Schultz, will replace him on an interim basis.


AP Business Writer Joe McDonald in Beijing contributed.

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Reading and writing

Horoscope for Wednesday March 9, 2022

Lunar Alert

There are no restrictions on purchases or major decisions. The moon is in Gemini.

Aries (March 21-April 19)

Over the next few weeks you will be playing your cards close to your chest. You might even be discreet. You will definitely succeed in researching as you will easily uncover hidden information and discern the subtext of things. (Don’t leave without your deerstalker.)

Taurus (April 20-May 20)

You will be more involved with the youngest in the coming weeks. It could be a younger friend, but it’s more likely that you’re more involved with a group or organization. This same window of time is a great time to set goals. (Goals help you stay on track and make decision-making easier.)

Gemini (May 21-June 20)

Bosses, parents, teachers and VIPs will be listening to you in the coming weeks. It will be obvious to them that you have something to say, and they want to hear it. Personally, you could start planning your general direction in life.

Cancer (June 21-July 22)

You have a great opportunity in the coming weeks to study and learn. You could use this same astrological influence to finish an important manuscript or article. Many of you will make travel plans and, indeed, some of you will travel.

Leo (July 23-August 22)

This year, you will benefit more than usual from the wealth and resources of others. This windfall can come to you through your partner or through inheritance or government money. In the coming weeks, discussions on shared ownership could take place.

Virgo (August 23-September 22)

Expect to have heated discussions with partners and close friends in the coming weeks as your ruler Mercury will be opposite your sign. For some of you, that means you will attract someone who is talkative and talkative. Yada yada yada.

Libra (September 23-October 22)

You are ready to roll up your sleeves and get started on some tasks over the next few weeks. Some will do it at work; some will in your personal life. You will all accomplish a lot, which could lead to a promotion or a better job. It could also improve your health.

Scorpio (Oct. 23-Nov. 21)

Over the next few weeks, you will enjoy puzzles, mind games, crafts, and opportunities to express your creative talents, especially mentally or with your hands. You are a trickster and will welcome opportunities for a few pranks. The playful moments with the children will delight.

Sagittarius (November 22-December 21)

You focus on home and family. Over the next few weeks, you could be tackling home repairs. Family discussions will take place, probably about real estate opportunities or ways to improve your place of residence. This could include plans for a residential move.

Capricorn (December 22-January 19)

The pace of your days will quicken over the next few weeks as you are busy with appointments, short trips, and an increase in reading, writing, and studying. You will be full of ideas and eager to share your thoughts with others.

Aquarius (January 20-February 18)

It is not surprising that in the next few weeks you will have ideas for making money because this year you will become richer! Something is going to happen to inflate your coffers. Maybe you will earn more, or could you receive gifts or an inheritance?

Pisces (February 19-March 20)

Your need to talk to others and enlighten them about your ideas and hopes for the future will be very strong in the coming weeks. That’s why it’s important to interact with others online or in person, because you need to be heard. Do you have something to say !

If your birthday is today

Actor Oscar Isaac (1979) shares your birthday. You are charming and have a great sense of humor. You are also compassionate and caring for those less fortunate. In particular, you have a strong sense of justice. This year is the last year of a nine-year cycle for you, which means you will let go of what is no longer relevant in your life.

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Reading and writing

Richard Clarida quits Fed early after new transaction questions

Richard H. Clarida, vice chairman of the Federal Reserve, announced Monday that he would resign from his post two weeks earlier than expected. Although he didn’t give a reason, he had come under scrutiny for transactions he made in 2020 as the central bank was on the verge of saving financial markets.

“With my statutory term as governor expiring on January 31, 2022, I am writing to inform you that I intend to resign from the board of directors on January 14, 2022”, wrote Mr. Clarida in a letter to the president. . Biden that the Fed released on Monday.

The New York Times reported last week that Mr Clarida corrected his financial information for 2020 at the end of December. Ethics experts said one of his updated transactions raised questions – he sold an equity fund on February 24 before buying it back on February 27, just before the Fed chairman announced. on February 28 that the central bank was ready to help the markets and the economy.

His first statements had only noted the purchase of the equity fund, which the Fed had described in its name as a planned portfolio rebalancing. But the rapid move out and back of stocks called that explanation into question, some experts said, and the buyout could have put Mr. Clarida in a position to benefit as the Fed reassured markets.

Neither the Fed nor Mr. Clarida provided a new explanation for the transactions, although the Fed’s ethics office noted in the updated record that they always appeared to be in compliance with conflict of interest laws.

Mr Clarida’s updated disclosure garnered widespread media coverage and the attention of lawmakers. Massachusetts Senator Elizabeth Warren called on the Fed on Monday to release more information on the transactions of senior Fed officials in light of the news.

The amended disclosure and the rush of attention came at an inopportune time for Jerome H. Powell, the Fed chairman, who was reappointed to his post by Mr. Biden. He is due to appear Tuesday at a confirmation hearing before the Senate Banking Committee.

Ms Warren sits on the banking committee, so Mr Powell is always pretty sure he is wondering why some Fed officials traded so actively as the markets turned and the Fed staged a huge bailout at the start of the pandemic.

“The whole story of rebalancing, which just collapses over the fact that it sold and then bought,” said Simon Johnson, an economist at the Massachusetts Institute of Technology. “If you’re President Powell, you don’t want your reconfirmation hearing to focus on that. “

Mr Powell and his colleagues have revamped the central bank’s ethical guidelines in recent months – issuing plans in October to revise them and prevent many types of financial activity, including trading in times of turmoil. He can point out that this shows how seriously the Fed has taken the issue.

Mr Clarida’s resignation is the latest development in a months-long trade scandal that has involved senior officials and prompted high-profile departures at the Fed.

Financial information released in late 2021 showed Robert S. Kaplan, the former chairman of the Federal Reserve Bank of Dallas, had made large transactions in individual stocks, while Eric S. Rosengren, the former president of the Boston Fed, had traded real estate securities. These measures prompted an immediate and intense reaction from lawmakers, ethics experts and former Fed employees.

Fed officials actively rescued a wide range of markets in 2020. In March and April, they cut rates to zero, bought mortgage and government bonds en masse, and implemented debt bailouts. businesses and municipalities.

The concern is that continuing to process the affected securities for their own portfolios throughout the year could have given managers the opportunity to benefit from their insider knowledge.

Mr. Kaplan resigned in September, citing the scandal; Mr Rosengren resigned simultaneously, citing health concerns.

Mr. Clarida’s term was to end at the end of this month because his seat as governor was expiring. Bloomberg News first reported on his purchase of equity funds – which was visible before he corrected the disclosure – in October.

Although Mr Clarida did not address the trade issues in his resignation letter, he referred to them indirectly during a speech late last year.

“I have always fulfilled honorably and with integrity of public service obligations,” he said. said in mid-October.

the The Fed’s government watchdog investigating those responsible for transactions made in 2020 and Ms Warren has requested an investigation from the Securities and Exchange Commission. The SEC does not comment on whether such investigations are ongoing.

Mr. Clarida has served as Vice President since 2018, and during that time he has been a close associate of Mr. Powell’s and a valued Second-in-Command. His speeches were closely watched by Wall Street for the political signals they often offered, and he was praised for his skills as a clear and careful communicator.

He also led a campaign to revamp the Fed’s policy-making framework to make it more jobs-oriented and better suited to the challenges of the modern economic age, a hallmark of the Fed’s first term. Mr. Powell.

“I will miss his wise advice and vital ideas,” said Mr. Powell in a statement announcing the early departure of Mr. Clarida.

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Writer market

Real Estate Crypto unveils its charity program a few weeks ago

AL, Italy, December 29, 2021 (GLOBE NEWSWIRE) – As crypto investors remain skeptical about the current state of the market, NerveFlux, a crypto project backed by a registered company, unveiled its charity program within weeks before its public presale. NerveFlux had oversubscribed the private sale and the successful public sale (white list).

NerveFlux is confident that it can bridge the divide between crypto and real estate by allowing crypto holders to invest in real estate without having to convert cryptocurrency to fiat. NerveFlux aims to make it possible to invest in real estate properties seamlessly with crypto.

Mario Ljubicic is the CEO of NerveFlux, speaking with the CEO of Croatian origin, he said “understanding the fact that the NerveFlux solution is 5 years ahead in the crypto space, we bring the necessary innovative solution to a practical problem faced by the crypto industry for over a decade. Invest and participate in our public pre-sale on January 14the, 2022 on PinkSale LaunchPad, should be seen as an opportunity to be an early bird. NerveFlux is not a payment gateway or an investment platform. NerveFlux Marketplace will provide the technological mechanism needed to improve the fast and seamless buying or selling of properties directly with crypto.

With the genesis of Bitcoin, Satoshi Nakamoto hopes that blockchain technology will solve real-life problems, creating value for the crypto industry. As crypto becomes more palatable, making new millionaires all over the world, the gap between crypto and real estate is widening, leaving crypto holders at the mercy of banks. As the crypto market grows, the gap has become so obvious with most of the broken investors. NerveFlux is here to fill this gap, enabling direct investments in crypto real estate while protecting regulations and legal requirements by working with local authorities in any location.

In a world facing climate emergencies and environmental crises, crypto projects can add value to their project by going green. Charity plays an important role in all industries that care about planet Earth.

Juergen Hildebrandt, German-born Marketing Director of NerveFlux, said “Unlike Bitcoin and other major cryptocurrencies, Nerve is not a mineable cryptocurrency. Nerve is a green token. The Nerve Charity program will do its part to fight climate change and help reduce greenhouse gas emissions.

Speaking further, Juergen Hildebrandt said: “Our charity program is a use case that gives value to its holders. For each wallet address that holds Nerve for more than 120 days, a tree will be planted with the wallet address labeled on it. We are going to plant trees in different countries of the world. Anyone can contribute to our charity program by holding a Nerve Token. Our long term goal is to plant a million trees.

The Nerve public presale is scheduled for January 14e, 2022. For more information, visit the official NerveFlux website

For more details see our website: –



Official Email: [email protected]

For the partnership: [email protected]

Contact the writer, Toritseju edema:

[email protected]

The information provided in this press release is not investment advice, financial advice or business advice. It is recommended that you exercise due diligence (including consulting a professional financial advisor before investing or trading in securities and cryptocurrencies).

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Writer market

The vegetable protein revolution is shaking up agriculture – Writer’s Bloc

Global Plant Protein Market Could Double By 2026, Reducing Meat Requirements

While there are those who demand greater access to agricultural land for city dwellers, especially since COVID-19 has caused many to seek space away from large cities, others want to protect our lands from speculators real estate.

It is a real point of tension and an important debate. But beyond that, our approach to protecting farmland may have to change forever.

Two reasons often motivate governments to protect farmland.

First, many loudly proclaim the impossibility of creating agricultural land. While to some extent true, technologies allow us to reallocate land and make our acreage more efficient. And there are vertical farms. The greenhouse industry increases the efficiency of our spaces and is growing rapidly in Canada and elsewhere.

In addition, our debate on protecting farmland is based on the premise that consumers will continue to consume the same way for years to come. But consumer habits are changing – slowly, but they are changing. With our collective craze for plant-based proteins and the eventual arrival of emerging technologies like precision fermentation and cultured meat that will shake up our plates, protein will have an entirely different meaning in a few decades.

A real transition to vegetable proteins is announced. Most Canadians will continue to consume meat, but in smaller amounts for a variety of reasons. According to a report by the Market Data Forecast group, the global vegetable protein market could double by 2026. This market is estimated today at around 23 billion dollars, so it could exceed 46 billion dollars in a few years.

This huge progression is just the start of a new trend. And don’t let the current Beyond Meat slide fool you. The younger generations are interested in more sustainable, simpler and cheaper proteins. With rising meat prices, the retail price differences between vegetable and animal protein are much smaller than they were a few years ago.

In Canada and around the world, agricultural land devoted to the production of animal feed is significant.

Major field crops include all varieties of wheat, barley, corn, oats, rye, canola, flax, soybeans, dry peas, lentils, dry beans, chickpeas , mustard seeds, canary seed and sunflower. Our grain production is massive.

According to the Animal Nutrition Association of Canada, 80 percent of barley, 60 percent of corn and 30 percent of wheat grown in Canada is used to feed livestock. And according to Statistics Canada, about 15 million acres are used to produce these three crops for livestock in Canada – and 15 million acres is almost the size of New Brunswick.

Some of the land will obviously be reallocated and devoted to other crops, as the pressure to grow crops for livestock could decrease dramatically over time.

Cultivated meat is also on the horizon, along with other technologies that require fewer resources. For example, aquaculture production of fish and seafood could double in the next few years, providing more protein options to consumers.

You can understand where this is all going. A greater plurality of proteins will require more modest agricultural production.

As for milk, the darling of eastern Canadian agriculture, precision fermentation could wipe out the Canadian dairy industry within 15 to 20 years, according to reports.

Protecting farmland is therefore not the only issue we need to be concerned about. We must also think about land use in rural communities.

Despite this, the threat of running out of farmland to feed the planet by 2050 continues to be expressed. Some groups worry about the possibility of running out of food to feed our 10 or 11 billion people by 2050.

But according to the United Nations, 40 million km², or 77% of agricultural land in the world, is devoted to animal production. It’s a safe bet that we will not run out of farmland, the opposite could happen. Experts even say climate change may give Canada new land in the North to grow crops.

We will have to find new ways to occupy our rural land, not just protect it. The management of our agricultural heritage and the support offered to rural economies will experience a major upheaval. The management of farmland in Canada will and must change for the benefit of our rural communities.

Sylvain Charlebois is Senior Director of the Agri-Food Analysis Laboratory and Professor of Food Distribution and Policy at Dalhousie University.

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Writer market

Global stocks drop amid virus concerns and tighter Fed policy

A woman walks past the electronic board of a securities firm in Tokyo on Monday, December 20, 2021. Asian stock markets followed Wall Street lower on Monday amid concerns over the latest variant of the coronavirus and the stricter Federal Reserve policy.  (AP Photo / Koji Sasahara)

A woman walks past the electronic board of a securities firm in Tokyo on Monday, December 20, 2021. Asian stock markets followed Wall Street lower on Monday amid concerns over the latest variant of the coronavirus and the stricter Federal Reserve policy. (AP Photo / Koji Sasahara)


Global stock markets and Wall Street futures fell on Monday amid concerns over the latest variant of the coronavirus and tighter Federal Reserve policy.

London and Frankfurt opened sharply lower. Shanghai, Tokyo and Hong Kong also fell at the start of a stock market week that will be cut short by Christmas. US benchmark oil fell more than $ 3 a barrel.

The spread of the omicron variant has fueled fears that new restrictions on business and travel could worsen supply chain disruptions and spur inflation.

“Omicron threatens to be the Grinch to steal Christmas,” Mizuho Bank’s Vishnu Varathan said in a report. The market “prefers security to unpleasant surprises”.

In early trading, the FTSE 100 in London fell 1.7% to 7,143.60 and the DAX in Frankfurt fell 2.4% to 15,155.71. The CAC 40 in Paris collapsed 2% to 6,787.68.

On Wall Street, futures on the benchmark S&P 500 and the Dow Jones Industrial Average fell 1.5%.

The S&P fell 1% on Friday as traders pulled money from the table after the Fed said it would fight inflation by speeding up the withdrawal of economic stimulus. The index is 2% below its all-time high and up 23% for the year.

The Dow Jones lost 1.5% and the Nasdaq composite, dominated by technology stocks, slipped 0.1%.

In Asia, the Shanghai Composite Index slipped 1.1% to 3,593.60 after China’s central bank cut a key interest rate. The bank lowered its one-year prime rate to 0.05%, but left the five-year rate and its main policy rate unchanged.

The reduction is a “small step towards easing” monetary policy without changing efforts to reduce real estate debt, Macquarie’s Larry Hu and Xinyu Ji said in a report. Beijing’s use of multiple interest rates “is confusing, drastically reducing the signal” if only one is cut, they said.

The Nikkei 225 in Tokyo lost 2.1% to 27,937.81 and the Hang Seng in Hong Kong lost 1.9% to 22,744.86.

Seoul’s Kospi was down 1.8% to 2,963.00 and Sydney’s S & P-ASX 200 was down 0.2% to 7,292.20

India’s Sensex index opened down 2.3% to 55,811.05. New Zealand won as Southeast Asian markets retreated.

Traders had made an offer to airlines, cruise lines and other travel-related actions in hopes that the spread of omicron would not trigger more travel checks.

Sentiment has turned as the United States and other governments warn omicron is more prevalent than expected, leading to travel restrictions in some areas and the cancellation of public events.

The US government on Sunday warned of a possible wave of “revolutionary infections” as Americans travel for the Christmas and New Year holidays.

Stocks rallied briefly last week, then fell after Fed officials said on Wednesday they may accelerate cuts in bond purchases that inject money into financial markets. This sets the stage for the Fed to start raising interest rates next year.

Also potentially weighing on sentiment, a US senator said on Sunday that he would not support President Joe Biden’s $ 2 trillion infrastructure, social spending and climate plan. Joe Manchin’s announcement may doom the plan’s chances in the equally divided Senate.

Inflation has been a growing concern throughout 2021. Higher raw material costs and supply chain issues have increased overall costs for businesses, which have raised commodity prices to offset the impact. .

Consumers have so far absorbed these price increases, but they face continued pressure from price increases and this could lead to lower spending.

In energy markets, benchmark US crude plunged from $ 3.57 to $ 67.15 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell from $ 1.52 on Friday to $ 70.86. Brent crude, the basis of international oil prices, sank from $ 3.41 to $ 70.11 a barrel in London. It lost $ 1.50 the previous session to $ 73.52 a barrel.

The dollar fell to 113.41 yen from 113.70 yen on Friday. The euro gained $ 1.1261 against $ 1.1251.

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Book creator

Business leaders land leading roles in celebrity business ventures

Anakwenze of Abacus Financial said managers sometimes need to steer clients away from risky companies.

Stimulated by peers who sometimes win jackpots, Hollywood talent has branched out into parallel ventures in which, in a new twist, their business leaders and lawyers take on frontline roles. These side activities outside of mainstream entertainment careers may involve drinks, food, cosmetics, fashion, personal fitness, cannabis products, and a range of online media offerings they own or co-own. – own.

“We are living in a unique time where innovation is abundant and capital is readily available,” said Belva Anakwenze, director at Abacus Financial Business Management at Palms.

A prime example of the celebrity gold rush is the Casamigos tequila brand that George Clooney co-created in 2013 and sold for $ 1 billion in 2017 to spirits giant Diageo. Clooney’s co-creator was Rande Gerber, an entertainment entrepreneur married to model Cindy Crawford. This high price has rocked Hollywood.
“Even 10 or 15 years ago, these examples of celebrities taking stakes in business start-ups were rare,” said Shaun Clark, attorney for Century City.

Clark, a partner at Sheppard Mullin Richter & Hampton law firm, sees social media as a real change.

“I attribute a lot of the change to the technology that gives influencers and sophisticated talents a voice and direct connectivity with their fans and demographics,” he said. “You don’t just tap into their name, voice and recognition, you speak to an entire audience that sees and loves what celebrities are saying.”

In the hard liquor industry, where gaining market share is normally a frosty process, celebrity associations are increasing sales of tequila, a category that appears to be overrun by Hollywood and other talent. Besides Casamigos de Clooney, actress / producer Eva Longoria supports Casa Del Sol, basketball player Michael Jordan co-founded Cincoro, LeBron James leads 1707 Lobos, influencer Kendall Jenner pushes 818 Tequila and Nick Jonas of pop music launched Villa One. Jenner’s brand 818 generated mixed reviews from aficionados, but sold out at launch.

The latest sensation is Dwayne “The Rock” Johnson’s Teremana, which ranked 6th among mid-priced tequila brands in 2020, the newest brand in that mid-priced category, according to the Shanken Daily News drinks. Armed with Johnson’s celebrity firepower, the Mast-Jägermeister brand distributor became an instant force in tequila.

“It’s very rare for a high-end brand to achieve this kind of volume in its very first year on the market,” according to researcher Shanken.

Source material

In some cases, celebrities develop their own ideas, but more often than not, celebrities become attached to the embryonic businesses presented to them. These two entrepreneurial options are different from traditional sponsorship deals with big brands that pay a large sum of money to famous talent to essentially be hired presenters for a limited period of time.
When it comes to situations where talent has this idea, business leaders play a leading role in creating a business plan.

“The sales manager can be the quarterback tasked with putting together the financial information that will take the customer’s idea or product to the next level and eventually market,” said Mickey Segal, the founding partner and director of the Westwood-based NKSFB business manager. “They are bigger clients” with significant funds to finance the development.

Segal oversees Hollywood’s largest business management specialist, with 600 employees in five offices, and is a division of Focus Financial Partners.

Talent CEOs can serve as de facto CFOs of companies, oversee product / supplier relationships, point the way to third-party financing, and advise clients on insurance and overhead costs. To a certain extent, business leaders incubate startups born by their clients. This incubation can be indirect by helping others to take over functions which are not in the wheelhouse of the entrepreneur or which are too important to be managed directly.

Business manager Mike Merriman advises a music client who has launched a successful beer-drinking contraption, the Chugbud. Merriman, president of downtown-based Parr3, is the startup’s de facto CFO for his client, known professionally as Mike, a hip-hop / pop singer with 4.5 million monthly listeners. on the Spotify music streamer.

The singer has many followers on the varsity music concert circuit where the party chugbud is a natural fit to the lifestyle. Merriman said his customer “has gone from assembling the product in a garage to outsourcing high volume manufacturing and selling tens of thousands of units.”

Active and passive income

The other model involves many instances where existing embryonic businesses seek to connect with celebrities. Well-known talents are courted to serve as a brand ambassador – often with a share of ownership as payment and long-term involvement – and startups may even seek a celebrity cash investment.
Century City Commercial Director John Blakeman, Partner at Macias Gini & O’Connell, noted that “Early stage investment firms and emerging brands are looking for capital to take them to the next level. Through VCs and other investment avenues, proposals cross the offices of business leaders.

Another role of business leaders and legal advisers is to be upfront when clients want to invest in clearly high-risk businesses that appear to be bad bets and that would force the client to fund themselves personally. Then the business owner’s job is to “talk to them from the ledge and save them from themselves,” Anakwenze said.
In the past, business leaders and lawyers weren’t on the front lines – the personal managers who guide global careers and the agents who book gigs were traditionally the initial catalysts. All are part of a celebrity advisor team.

But with the boom in celebrity monetization avenues, startups and digital media have become blurring the lines. Of course, business leaders remain the mainstays of traditional services in accounting, banking, financial planning and also in the alignment of passive investments such as the purchase of income-producing real estate or small holdings. in startups. Lawyers have also recently become hubs, through their involvement in increasingly complex celebrity sponsorship deals and industry contacts.

These celebrity associations provide instant visibility to business ventures, but there is a risk if the talent gets involved in the controversy down the road. For example, earlier this month brewer Anheuser-Busch Cos. abruptly stopped his drink Cacti Agave Spiked Seltzer, which is branded by rapper Travis Scott, after 10 people died in a crowd surge as Scott performed at the Astroworld festival.

For business owners and lawyers, side businesses, however, help clients achieve their wealth building goals and can establish good faith in business outside of Hollywood, which can be a stepping stone to a second career. .

Plus, unlike traditional Hollywood work, which often requires lengthy concert tours or reporting on Hollywood soundstages at dawn, clients’ creative talents engage in side gigs that have the potential to become self-propelled afterward. to have elbow grease for the launch. Business leaders constantly advise their clients to pursue activities that allow them to “make money while you sleep.”

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Reading and writing

Danbury man’s career influences his passion for writing

DANBURY – Edwin Rivera scribbled on a notepad.

The bounty hunter was on guard with his partner, who had been a Green Beret in the military. Rivera was inspired by his partner and wrote a character based on him in his manuscript.

It was in 1996.

Twenty-five years later, Rivera self-published her fantasy novel, “The Kingdom of Galbothia: The King’s Vengeance”.

This is the twelfth novel by the Danbury resident, although he has 16 more manuscripts he says will be published over the next few years.

For Rivera, characters come first, and many of his characters were inspired by people he met during his nearly 30 years as a bounty hunter.

“They kind of give me ideas,” he said. “Their personality is just amazing. I put it on paper.

His work includes the series “Silencers of the Code”. Rivera said he had developed a “following” of readers across the world, particularly in Europe and on the West Coast. He is in touch with readers who criticize his books and has developed a fan base of around 13,000 people via email and social media who he says are eager for his next stories. He was sending weekly “spoilers” by email.

“Readers keep telling me that they love the originality of the characters,” Rivera said. “They like the way I connect fiction, science fiction to an almost real world. It’s almost like I’m sending a message through my writing, which I am, to be honest.

The theme of the latest novel is “freedom” and that “our world is so precious and we have to take care of it and take care of each other,” he said.

Her late father served in World War II and the Korean War, which inspired this theme.

“By reading it you can tell that I am talking about a lot of the problems that we are having in this country, in the world,” Rivera said.

Bounty hunt

Rivera was born in the Bronx, New York, but he and his family moved to Danbury when he was 12. He attended Rogers Park Middle School and Danbury High School. He wrote as a child and when he worked as a correctional officer after high school. He took numerous writing and literature courses at Western Connecticut State University, although he studied criminal justice, believing he wanted to become a lawyer.

Instead, he was a bounty hunter for 29 years. It was a career he loved, but one that would discourage young people from pursuing because it is “very dangerous work,” he said.

“You have to use your head a lot and be smart and have the right people working with you,” Rivera said.

He has worked in 32 states, but primarily in Connecticut, handling a variety of cases, ranging from “big” lawsuits. He said all of his cases were important because he was helping keep the community safe by keeping someone out.

“I am proud of all of the cases,” he said.

He is still accredited, but retired about four years ago.

“I get called by some friends and some people who are still working, but I’m like ‘No, not for me. I’m too old now, ”said Rivera, who turned 53 this month.

He works as a real estate agent, in addition to writing.

Escape into fantasy

His first book was published in 2008, “a little ahead of his time” because he wanted his sister, who was battling cancer, to read it before she died. His other two sisters have since died and he dedicated the most recent novel to them.

“I had to do it,” Rivera said.

For each of his books, he writes separate manuscripts with different scenes or locations. In the editing process, he decides what to keep.

He wrote the original 390-page manuscript of “Kingdom of Galbothia” over nine years, but only returned to it relatively recently. He’s struggled with attention deficit disorder, so he’s now writing shorter books, he said.

“I reduced it to no more than 200,” Rivera said.

He publishes himself through companies like Outskirts Press or E-Book LLC, which published the latest book. It aims to put physical copies in local bookstores. The Route 6 mailroom in Danbury has them in stock.

“I went the traditional route for a while and it was a nightmare,” Rivera said.

He also writes poetry, but “Lord of the Rings” fan novels are in the realm of fantasy and science fiction.

The last novel is about a young prince who “inherits, not from a blessed kingdom, but from a broken line of his line”, the book summary states. The new king must protect Galbothia from “tyranny and oppression” as an enemy attempts to “end Galbothia’s way of life”.

He mainly writes between 10 p.m. and 3 a.m. He puts on music and writes for free for hours on end.

“My wife thinks I’m crazy,” he said. “I find it peaceful at the time. My mind is relaxed.

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Biden to Keep Powell as Fed Chairman, Brainard Becomes Vice Chairman | Economic news

By CHRISTOPHER RUGABER, economic editor of the AP

WASHINGTON (AP) – President Joe Biden on Monday said he was appointing Jerome Powell to a second four-year term as Federal Reserve Chairman, endorsing his handling of the economy through a brutal pandemic recession in which politicians The Fed’s ultra-low rates have helped boost confidence and boost the job market.

Biden also said he would appoint Lael Brainard, the only Democrat on the Fed’s board of governors and the preferred alternative to Powell among many progressives, to the post of Vice President.

His decision strikes a note of continuity and bipartisanship at a time when soaring inflation is weighing on households and increasing the risks for the recovery of the economy. By supporting Powell, a Republican who was elevated to his post by President Donald Trump, Biden dismissed progressives’ complaints that the Fed has weakened banking regulations and has been slow to factor climate change into its oversight. banks.

“When our country suffered a job hemorrhage last year and there was panic in our financial markets, Jay’s consistent and decisive leadership helped stabilize markets and put our economy on the back burner. on track for a solid recovery, ”Biden said, using the Powell nickname.

Political cartoons

In a second term that begins in February, Powell would face a difficult and high-risk balance: inflation has hit a three-decade high, causing hardship for millions of families, darkening the recovery and undermining the tenure of the United States. Fed to keep prices stable. But with the economy still more than 4 million jobs below its pre-pandemic level, the Fed has yet to fulfill its other mandate of maximizing employment.

Next year, the Fed is expected to start raising its benchmark interest rate, with financial markets forecasting at least two increases. If it moves too slowly to raise rates, inflation can accelerate further and force the central bank to take more drastic measures later to bring it under control, potentially causing a recession. Yet if the Fed raises rates too quickly, it could stifle hires and the recovery.

If confirmed, Powell would remain one of the most powerful economic leaders in the world. By raising or lowering its short-term interest rate, the Fed seeks to slow or stimulate growth and hiring, and keep prices stable. His efforts to lead the US economy, the world’s largest, usually have global consequences.

The Fed’s benchmark rate, which has been close to zero since the pandemic hit the economy in March 2020, influences a wide range of borrowing costs for consumers and businesses, including mortgages and cards credit. The Fed also oversees the country’s largest banks.

For months, Powell has been the front-runner to be re-elected, but a vigorous campaign by environmental and public interest groups in favor of Brainard has darkened the picture in recent weeks. Critics, including Senator Elizabeth Warren, D-Massachusetts, have argued that Powell relaxed banking regulations put in place after the 2008-2009 financial crisis.

And two other senators voiced their opposition to Powell last week because they said he was not sufficiently committed to using the Fed’s regulatory tools to fight global warming.

Brainard, meanwhile, has cast 20 dissenting votes against changes to financial rules over the past four years. In March 2020, she opposed a regulatory change that she said would reduce the amount of reserves that big banks had to hold to hedge against losses. She also spoke more forcefully than Powell about ways the Fed can deal with global warming.

Biden sought to allay those concerns. He said Powell had pledged to make climate change “a top priority” and agreed to ensure “that our financial regulations stay ahead of emerging risks.”

“Jay, along with the other members of the Fed board that I will appoint, must ensure that we never again expose our economy and our American families to these kinds of risks,” he said. at the White House, referring to the 2008 financial crisis.

Biden still has the option of filling three other positions on the Fed’s board of governors, including that of vice chairman of oversight, a prominent banking regulatory post. Those positions will be filled in early December, Biden said.

Biden admitted that some Democrats had encouraged him to choose a new Fed chairman, for a “fresh start.” But he said he wanted to go in a different direction.

“We need stability and independence at the Federal Reserve,” he said. “I think broad, bipartisan Fed leadership is important, especially now, in such a politically divided nation.”

Biden praised Powell for his efforts to achieve maximum jobs, but did not press him on inflation, which has become the biggest economic threat to his administration. Biden said the US economy is in the midst of a “historic recovery” which gives the Fed the opportunity “to attack inflation from a position of strength, not of weakness.”

Powell said “we know that high inflation negatively impacts families, especially those who are less able to afford the higher costs of basic necessities, such as food, shelter and transportation.” . He pledged to use the tools of the Fed – mainly by raising interest rates – “to prevent higher inflation from taking hold.”

Powell’s re-appointment is expected to have broad approval by the Senate Banking Committee, and then by the Senate as a whole.

Some liberal Democrats such as Sen. Sherrod Brown of Ohio, chairman of the Banking Committee, have supported Powell, as have moderate Democrats, including Sen. Jon Tester of Montana. He was also endorsed by Sen. Pat Toomey, R-Pa., The leading Republican on the panel, and will likely receive broad support from Republicans.

Wall Street applauded the renomination, with stock prices rising and fear measures easing in the market immediately after the announcement. The S&P 500 is about to close at another record.

The 68-year-old lawyer was appointed to the Fed’s Board of Governors in 2011 by President Barack Obama after a lucrative career in private equity and after holding several positions in the federal government.

Unlike his three immediate predecessors, Powell does not have a doctorate. in economy. Yet he earned generally high marks for handling perhaps the world’s most important financial situation, especially in his response to the coronavirus-induced recession.

Still, soaring inflation forced the Powell Fed to slow down its economic stimulus sooner than expected. At its last meeting in early November, the central bank said it would start cutting its monthly bond purchases by $ 120 billion this month and likely end it by mid-2022. These purchases were aimed at keeping long-term borrowing costs low to stimulate borrowing and spending.

For months, Powell called inflation “transient,” but more recently he admitted that higher prices had persisted longer than expected. At a press conference this month, Powell acknowledged that high inflation could last until the end of summer 2022.

Brainard’s rise to the number 2 position of the Fed follows the key role it played in the Fed’s emergency response to the pandemic recession. She is part of a “troika” of key policy makers that includes Powell and Richard Clarida, whom she will replace as vice president in February.

Brainard was the architect of the Fed’s new policy framework, adopted in August 2020, under which it said it would no longer hike rates simply because the unemployment rate had fallen to a low level that could boost the economy. ‘inflation. Instead, the Fed said it would wait for real evidence of the price hike.

Brainard also played a key role in the Fed redefining its maximum employment target as “broad and inclusive,” taking into account the unemployment rate of blacks and other groups and not just Americans as a whole. political decisions.

She also discussed ways in which the Fed could take climate change into account more directly in banking supervision. Many environmental groups say loans to oil and gas companies, as well as commercial real estate developers, could default and cause significant losses to banks if environmental damage worsens or renewables provide a larger share. of electricity production.

“Climate change,” she said, “is expected to have profound effects on the economy and the financial system, and it is already inflicting damage. “

Associated Press writer Josh Boak contributed.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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3 best dividend-paying stocks you can buy right now

Investors turn to dividend-paying stocks for a reason: they want a reliable income stream. Dividend stocks can be ideal for retirees or other income investors because they regularly provide cash.

Investors have two choices for dividend-paying stocks: high-yielding dividend stocks with higher risk or more reliable dividend-paying stocks that constantly increase payouts. Owl Rock Capital Corporation (NYSE: ORCC), Morgan stanley (NYSE: MS), and Travelers (NYSE: TRV) are all dividend paying stocks that range from riskier high yielding stocks to reliable dividend payers.

Image source: Getty Images.

1. Owl Rock Capital Corporation

Owl Rock Capital offers a stellar 8.5% return, but there are a few things investors need to know about this high-yielding stock. Owl Rock Capital provides loans to middle market businesses and is known as the Business Development Corporation (BDC). A BDC is simply a business that grants loans or purchases shares in private companies in the United States. These companies can help finance businesses that banks may consider too risky.

BDCs have tax rules similar to those of real estate investment trusts (REITs), requiring them to pay 90% of their income in the form of dividends. For this reason, BDCs offer higher dividend yields, but can be riskier investments.

Owl Rock Capital provides loans to mid-market companies or companies with earnings before interest, taxes, depreciation and amortization (EBITDA) of $ 10 million and $ 250 million and annual turnover of 50 to 2 , $ 5 billion. The company believes this space is underserved as large institutional investors are subject to tighter liquidity requirements. As a result, these large institutions lend to large companies, leaving a funding hole for small businesses.

This focus on mid-market companies has paid off, with Owl Rock Capital recording investment income of $ 740 million, up 27.1% from 2020 and 43.4% from 2019. Another key metric for BDCs, called net asset value per share (NAV), came in at $ 14.95, up nearly 2% from the same quarter last year. Growing net asset value is one way of knowing if you’re investing in a strong management team that creates long-term value. While the company’s net asset value declined in 2020 due to low interest rates amid the pandemic, it has moved in the right direction over the past year.

Owl Rock Capital’s high yield is attractive. Nonetheless, investors should be aware of the potential default risks if the economy as a whole were to struggle. As the company invests in mid-market companies, these could be the first to feel the pain of an economic downturn.

Investors should also keep an eye out for rising interest rates, which could affect the repayments of these loans by the companies in its portfolio. Rising rates could also make the stock less attractive if its dividend yield does not rise in line with interest rates. However, given the current strength of the economic recovery and loan markets, Owl Rock Capital appears to be a solid, high yield dividend stock that is worth the risk.

2. Morgan Stanley

Morgan Stanley is another solid dividend paying stock, returning investors nearly 2.7%. This dividend had doubled when its quarterly dividend was announced in June, testifying to the company’s solid financial position.

Morgan Stanley is best known for its investment banking services, which have been excellent this year. In the first nine months of 2021, its investment banking revenue grew 61%, thanks to a solid backdrop of M&A (M&A) and initial public offering (IPO) activity.

Although its investment bank has performed well, what excites me most about the company is how it can thrive in various market conditions. Last year, the company focused on diversifying its revenue streams by acquiring E * Trade and Eaton Vance. By adding the E * Trade platform, Morgan Stanley has added a stream of commission and fee income that can work well with increased market volatility, which tends to increase trading.

The addition of Eaton Vance has boosted the company’s asset management segment, providing it with a steady stream of asset management fees to stabilize its revenue. Over nine months this year, the company’s fees and expenses increased 20%, while its asset management income increased 41% from a year ago.

A key indicator to watch for dividend-paying stocks is the payout ratio. This ratio can give you an idea of ​​the sustainability of a dividend. Usually you want to see a business with a payout rate of 50% or less. Morgan Stanley’s payout ratio is around 15%, giving investors confidence that the company can continue to maintain and increase its dividend. With its diverse business model, Morgan Stanley is well positioned to succeed and deserves a place in any dividend investor’s portfolio.

The mechanic looks at the tablet with a customer.

Image source: Getty Images.

3. Travelers

Travelers is a solid dividend paying stock that pays 2.2% and is committed to increasing dividends – which it has done for 17 consecutive years. Travelers is a property and casualty insurance company that offers several coverage options, including auto insurance, workers’ compensation, and property coverage for individuals, businesses and governments. According to S&P Global Market Intelligence, Travelers was the top commercial insurer in the United States in 2020, and it is the only commercial insurer with a top five position in five major product lines, showing its product line.

This year’s growth has been solid for travelers and can be attributed in part to the context for insurers. Insurance companies have recorded larger claims due to the increase in disaster losses caused by extreme weather and other events in recent years. As a result, insurers must respond by increasing premiums, thereby creating an environment conducive to premium growth. Travelers saw their premiums increase by 5.9% in the first nine months of 2021 compared to last year. In the third quarter, its in-force auto and home insurance coverage hit a record high.

Along with strong revenue growth, you want insurers to maintain good profitability on the policies they write. One measure used by insurance companies is the combined ratio, where a ratio of less than 100% indicates that the company is writing profitable policies. Travelers posted a combined ratio of 97% in the first nine months of this year, and in the past 15 years, Travelers has only seen its combined ratio cross 100% once in 2011.

Travelers’ consistency in profitable underwriting is one of the main reasons the company has increased its dividend payouts for 17 consecutive years. That, along with its 24% payout ratio, puts Travelers in a position to continue paying and increasing its dividend payouts, making it another stellar dividend stock for income investors.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are heterogeneous! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.

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The market will not save us: why I vote yes

In the weeks leading up to the November election, I saw the courage of white liberals shattering in real time. This year, residents of St. Paul have the chance to support a voting measure initiated, researched and led by communities of color, a policy that would fundamentally change the unbalanced relationship between landlords and tenants.

Voting yes to stabilizing rents should be an easy choice. But an influential fraction of white town planners muddled the conversation on Question 1, giving well-meaning whites the opportunity to turn unfounded caution – and a desperate desire to be “right” – into complicity with landlords and people. the richest in our city.

The “Yes in My Backyard” or YIMBY concept was created as an inclusive and tenant-friendly contrast to the “Not in my Backyard” or NIMBY movement which relied on whistle racism to oppose new housing in predominantly white neighborhoods. Sadly, a small handful of mostly white men have given too many YIMBYs a reason to vote no to this critical policy.

These white planners reassured potential voters that they are a good person, that they really care about tenants, that they really want rent stabilization, honestly, but not this one. They clearly identified the housing crisis and its devastating effects, but did not go further. If they tried to solve the problem, they would no longer have the right analysis. There would then be expectations, a responsibility beyond another article mourning the supply of housing.

None of these people have spent thousands of hours building a community, collecting signatures, standing fiercely towards the wealthiest people in town. The Keep St. Paul Home campaign did. The voting policy was created and implemented throughout the petition process and thus far by women, organizers of color and tenants. These three groups are seldom the driving force behind the biggest political conversations in our city. But in the whiter, more powerful circles, they’re often bothered. “How to get them to participate? “” How can we increase their participation in important election years? “” How do we know what resources they need? ” I found a simple answer to these questions: support their work and follow their leadership.

So it is both baffling and disappointing that when communities of color are engaged, when tenants have a significant issue to solve in an election, those same people turn into wheelchair housing experts with superior insight than those who have direct experience of housing instability.

Among the paternalistic criticisms of town planners is the hypothesis that the Keep St. Paul Home campaign has not done its homework. That the policy – which would limit annual rent increases to 3% for all units in the city – will have unintended consequences the authors weren’t smart enough to see.

Some of the most common concerns:

The ordinance does not exempt new housing.

This is because simply adding new homes at market price to our real estate ecosystem and waiting for the mythical trickle down effect is not enough. New homes can still be valued cost-effectively for developers, but by including them in the ordinance, it prevents out-of-control rental spikes. The homes in our community should be homes and not speculative investment products.

“The ordinance does not index rent increases to inflation.

Until workers’ incomes are indexed to inflation, why should landowners have such favorable profit controls attached to the price of their “product” (which also happens to be people’s homes). If there was a hypothetical inflation crisis, would we rather see tenants evicted across town as rents move away from wages, or banks and developers getting their hair cut while neighbors? stay at home?

“The ordinance does not include the abolition of the control of vacant posts. “

Control vacancy is when a unit is released from price control after a tenant leaves. It is also the genesis of all the horror stories about landlords in cities with stabilized rents leaving their properties to deteriorate to drive out tenants so that they can raise the rent. Deregulation is a tax incentive to neglect and cruelty.

Obviously, there are good reasons why none of these items are included in the ordinance: each has been used as a loophole for the benefit of homeowners.

What is really in conflict here are the two different frameworks of thought. Critics of YIMBY fear that the order does not offer enough deference and support to the market. Supporters and directly affected residents know that the market is the genesis of our current housing crisis and we must separate housing from the demands of profit. We have tried market-based solutions to deal with the housing supply and have only delved deeper into this crisis. It’s time to take a new approach.

The root of the opposition is as predictable as it is well funded: the Minnesota Multifamily Housing Association. Under the guise of the Sensible Housing Ballot Committee, they have raised nearly $ 4 million – the majority of which comes from outside the Twin Cities – for senders, dialers and canvassers. This is because no self-respecting politician or community leader would do their job for free, in shilling for the unlimited profits of those who already have all the money. That’s why it’s deeply baffling to see YIMBYs embrace their talking points, giving every white voter, college graduate, and homeowner the incentive moment they needed to shy away from the best chance at this year to shake things up on the housing crisis.

The YIMBYs do not see that one or the other position on rent stabilization undermines their position as “correct on housing”. In support of this, they should have shed their merchant mantras and found themselves among the socialists and tenants, all the resources of the real estate industry were deployed against them, telling them they were wrong. In opposition, they tried to have it both ways and it cost them their credibility. The real estate industry will be happy to use and lose them and the tenants will remain helpless as before.

Landlords have inherent power over tenants. Their financial control over a person’s housing means that by exercising their right to freedom of expression, a tenant can endanger the safety and security of their housing. People are tired of living their lives under threat. People are no longer happy with a housing strategy that concentrates profits on the wealthiest citizens of the community. People are ready to call the housing industry the bluff. We have to be brave enough to change the paradigm. The market will not save us, we have to save ourselves.

Editor’s Note: Find your polling station and sample ballot for the November 2 election on the MN Secretary of State’s website

As indicated in our “About” section: The views, opinions and positions expressed by each author – and those providing comments – are theirs alone and do not necessarily reflect the views, opinions or positions of the board of directors of or any other contributor to the site. Additionally, the editor worked with the author of this article after publication to remove a few phrases and word choices that had offended some readers, while leaving the main points and arguments of the article intact.

Signage “Keep St Paul at home: vote yes on November 2 for stabilization of rents”

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DroneBase investment $ 20 million for renewable energies

DroneBase investmentDroneBase investment: company raises $ 20 million for renewable energy and global growth

by Ian M. Crosby, editor-in-chief of DRONELIFE

DroneBase, the leader in intelligent aerial imagery, raised an additional $ 20 million in just under five months after grossing $ 12.5 million in its Series C round, with the new round led by Euclidian Capital. The financing will allow the company to continue its rapid global expansion in the renewable energy sector and other sectors with high value-added infrastructure.

Previous investors such as Union Square Ventures, Upfront Ventures, Energy Transition Ventures, Hearst Ventures, Pritzker Group Venture Capital and Valor Equity Partners also contributed to the increase.

“We have witnessed a significant shift in the smart imaging industry over the past six months; the industry has consolidated with several companies unable to compete on a global scale or unable to find the right combination of software and deep vertical expertise, ”said Ashvin Chhabra, President and Chief Investment Officer of Euclidean Capital . “We chose to invest in DroneBase because the company has a unique operational and software approach that creates value for companies with high value assets in many sectors, such as renewable energy, insurance, commercial real estate and construction.

With a global shift towards more sustainable high-value infrastructure, including assets such as solar and wind power systems and better buildings to support 21st century commerce and supply chains, imaging and l DroneBase’s intelligent aerial scans enable businesses to manage risk and protect these properties in an efficient and cost-effective manner.

“This year, we added top talent to our team and expanded into Europe,” said Dan Burton, CEO of DroneBase. “Although we have completed over 37 GW of renewable energy inspections to date, this growth funding allows us to significantly increase those numbers, evolving to meet the needs of the renewable energy industry. Ultimately, we intend to meet the needs of our global customers in a complete solution that covers analysis and data capture.

DroneBase investment partners, new and old

Burton continued, “We are delighted to be working with new investment partner Euclidian Capital and to have continued to invest in this cycle from our previous partners, who recognize the upcoming opportunities for global smart imaging.

“The solar market is on a path to rapid growth, driven by the requirements for net zero commitments,” said Craig Lawrence, partner at Energy Transition Ventures and former executive at SunEdison and SolarBridge. “The industry absolutely needs advanced data capture and analysis to continue to evolve. The smart software and services provided by Dronebase will help improve systems production and allow renewable energy market leaders to continue to grow rapidly. We are delighted to continue our partnership with DroneBase and to join Euclidien Capital for this increase. “

Previously, in June, DroneBase announced that it had raised $ 12.5 million in its C-Series and had more than 37 GW of aerial analysis and renewable energy data around the world. The company’s customers include some of the world’s largest owners and operators of wind and solar power and high-value infrastructure assets.

Learn more about the DroneBase investment, the partnership with Hangar, the strategic investment of FLIR and CEO Dan Burton on LAANC.

Ian attended the Dominican University of California, where he obtained a BA in English in 2019. A lifelong passionate about writing and storytelling and a keen interest in technology, he now contributes to DroneLife as a writer.

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Agenda for an economic charter

The writer is a former civil servant.

Our economy faces structural problems of twin deficits, circular debt, loss-making public enterprises, low productivity, low-end exports and is therefore trapped in a boom and bust cycle.

Growth spurts are invariably halted by what economists call an ‘overheating’ of the economy, forcing us to resort to fiscal stabilization measures to slow growth momentum, mainly because the underlying structural problems crippling the economy. economy are still unresolved due to political economy constraints. The boom and bust cycle over the last seventy years of our economic history tells us that there is no shortcut to sustainable growth until we tackle these structural issues head-on.

The periodic strong growth has been driven by episodic public sector spending and investment, sometimes in the form of CPECs or sometimes by inflows of foreign aid. It is therefore high time that we developed a minimum political consensus on solving the structural problems of our economy in the medium and long term, because any further delay would exacerbate our economic difficulties and pose serious challenges to the stability of our regime.

These are the key areas where political parties need to come to an agreement to get the country out of the weak development path – a path characterized by low productivity, low value-added exports and low growth:

First, reduce the budget deficit by increasing revenue and reducing or freezing spending: political parties should agree to increase the tax-to-GDP ratio to 20% from the current 10% over a period of, say, the next ten years. years. There should be broad consensus on broadening the tax base, streamlining tax rates, removing exemptions, plugging leaks, updating and integrating the database of different economic transactions, strengthening enforcement, reducing the imbalance between direct and indirect taxes and restructuring and overhauling the tax mechanism / administration.

At the same time, we need to control and freeze our current spending by rationalizing the number of government employees with a clear understanding that government can no longer be the employer of last resort and making pensions an “off budget” item through creation. pension fund and change the pension design from the existing defined benefit pension system to a defined contribution plan for new employees.

Second, tackle the current account deficit by promoting higher productivity and high-end exports rather than relying on borrowing and remittances. The gap between exports and imports has always held back our path to economic recovery and growth on a sustained basis, as rising imports relative to stagnant, low-value-added exports worsen the trade deficit, weakening the currency resulting in devaluation and inflation pressures further requiring adjustments to stabilize the economy rather than continuing on the path of economic growth over a longer period of time to move from low income to middle / high income countries.

Economic history tells us that the way to achieve sustained growth is to convert your comparative advantage into competitive advantage by switching from low-end exports to high-end exports through technological upgrading and higher productivity. South Korea is an example. On the one hand, it requires investing in your human capital. On the other hand, we need to design a strategy to increase exports that should cover both goods and services, explore and develop hitherto unexplored sectors and find new markets to earn the foreign currencies we have. so much needed. We need to focus on the IT sector, mining and minerals, automobiles (a sector that has extensive backward and forward linkages with other sectors of the economy), pharmaceuticals, etc. to $ 40 billion over the next five years.

We need to prepare a very comprehensive set of incentives for new and high-tech sectors, as well as export targets (as has been done by South Korea), to become globally competitive, and then maintain that set. without interruption, regardless of any changes in political government. We also need to use electronic commerce, modernize our infrastructure and improve the efficiency of ports and shipping services in order to reduce the cost of doing business and improve our competitiveness.

The third area where we need political agreement is that of privatization. The political forces of this country must agree that the government will not venture into an area where goods and services can be provided by the private sector in the first place (with a few exceptions for strategic reasons like national security). The economic rationale for continuing to support organizations like PIA and Pakistan Railways, to name a few, at the cost of a budget deficit is no longer tenable given our precarious budget situation. There is no justification for running companies and businesses.

Having a consensus on privatization will achieve the triple objective of improving the efficiency of the economy, expanding the private sector and also reducing the budget deficit, as a huge amount is provided through annual budgets. loss-making public sector companies. in the form of financial support.

Fourth, subsidies to public sector enterprises and to food and energy products also contribute to the budget deficit. It must be agreed that the government will not try to control or subsidize the market prices of food and energy products. All products must be traded in the market at prevailing market prices. The government will only provide direct cash transfers to the poorest of the poor. Cash transfers should be linked to food and energy prices. In times of high commodity prices, the amount of cash transfers should be increased and vice versa. We have come a long way in institutionalizing a strong system to manage and run a direct money transfer program in the form of Ehsaas / BISP and we just need to eliminate a parallel system of provide general grants to the rich and the poor.

Fifth, solving structural problems will remain an elusive dream without holistic reform of our energy sector and it is imperative to have a consensus in this sector, given that successive political governments have hesitated to directly address the fundamental problems of the energy sector. energy sector because of the immense political costs. that a political regime might have to bear as a result of reform measures. There is a need to reduce the currently predominant dependence on imported fuels for power generation by switching to renewable energy sources such as solar, wind and hydropower as part of a well-defined plan. to be implemented over a period of time. Additionally, we need to replace cross-subsidy with direct subsidy using the Ehsaas database to identify deserving users.

The government must deregulate and privatize the distribution of electricity and gas and allow the private sector to compete and provide these services, as has been done successfully in other countries. Even if the tariff determined by Nepra is fully implemented, the circular debt flow will not stop due to under-collection of billing and excessive losses in transmission and distribution, which requires reform and, finally, the privatization of DISCO which has been repeatedly delayed by successive governments due to political policies. pressures. We therefore need a global political agreement to take ownership of this reform. The privatization of DISCO should be supported by a strong and effective regulatory regime with well-defined incentives and sanction structures.

Sixth, the 7th National Finance Commission Prize has resulted in an unequal distribution of resources between the federal government and the provinces, leaving the federal government at a fiscal disadvantage as the latter continues to pay down debt, budget for subsidies (intended for the population residing in the provinces), finance the expenses of the BISP / social protection (which should ideally be borne by the provinces) and incur the expenses of the civilian armed forces which essentially carry out law enforcement functions mainly in provincial jurisdictions.

As a result, provinces have little incentive to increase their own incomes – despite being required to help increase the tax-to-GDP ratio by taxing the agriculture and real estate sectors under the 7th NFC. There is therefore a need to revisit the NFC agreement either by amending the revenue sharing agreements to make them more balanced and fair, or by involving the provinces in some of the spending liabilities that are primarily theirs in the first place, in accordance with the mission. functions provided for by the constitution.

Seventh, Pakistani debt indicators continue to deteriorate due to persistent primary deficits, relatively high exposure to external debt (resulting in a sharp increase in the debt burden due to currency devaluation) and the high cost of domestic debt (due to higher inflation and cost of savings plans). External debt represents 35% of total public debt. We need to run primary surpluses for the next ten years, which means we don’t have to incur additional debt to cover our non-interest expenses. Second, we must reduce the proportion of external debt from 35% to 25% or less over the next five years. Third, political parties should make a solemn commitment to strictly adhere to the debt-to-GDP ratio ceilings prescribed by the Fiscal Responsibility and Debt Limitation Act. Fourth, lower inflation combined with lower borrowing requirements would translate into lower borrowing costs, which would allow more resources to be available for private and public sector investment, stimulating economic growth. Finally, we need to increase the share of long-term debt in our overall debt portfolio.

The process to reach consensus on the above issues should be led by the government involving consultations with all major political actors and other stakeholders and any changes after the finalization of the charter of the economy should also be made. only with the agreement of all parties concerned.

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Writer market

Are we heading for a stock market crash?

It sounds strange right now, I know. I mean, the FTSE 100 The index hit its highest level in two months on Thursday. As I write this Friday afternoon, it is maintaining those levels.

So why am I talking about a stock market crash?

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UK economy shows weak recovery, FTSE 250 stalls

I am basing myself on the growing risks to the global recovery, which could weigh on the performance of companies and the stock markets.

The latest UK growth figures, weak for August, have been a wake-up call to me. The economy grew only 0.4% month-on-month in August, even after the easing of containment measures. In relation, the FTSE 250 The index, which is roughly representative of the performance of UK-based companies, stagnated last month. This could indicate that the stocks that make it up are not rising fast enough to push the index up.

Lower numbers expected across the pond

And it’s not just the UK where growth is disappointing. investment bank Goldman Sachs has just revised downwards its growth forecasts in the United States. He now expects growth in 2022 to slow from 4.4% to 4%. Economic growth is a reflection of how individual businesses are doing at a collective level. So, the expected weakness of the economy means that we can also expect weaker corporate results.

The United States is the world’s largest economy. So everything that happens in the United States affects the rest of the world as well. Now, the latest forecast cut is hardly scary. But slower growth can be unsustainable for some companies. This can trigger contagion. We have seen this recently in the Chinese context. The near collapse of real estate developer Evergrande caused stock market jolts around the world.

Withdrawal of support

I would not rule out such events any further, especially since the support policies are withdrawn. In the UK, the holiday scheme has been abolished, which could lead to higher unemployment. And the cancellation of the stamp duty holiday could be bad news for the real estate market. This is mainly because the recovery is too weak to sustain it. A handful of real estate developer stocks in the FTSE 100 have supported it well over the past year, as their stock prices have rebounded from soaring house prices. They may not be able to do it now.

Central bank quantitative easing in the form of bond purchases could also be reduced. The US Federal Reserve mentioned this in the context of rising inflation. This could derail any recovery seen so far. And inflation as such is also a big imminent risk.

What i would do now

What I mean is keeping in mind that the stock markets were very nervous until recently, I think any news could trigger them into a crash. This does not mean a catastrophe, it would probably only be a short-term market downturn. Also, I can’t ignore the fact that the FTSE 100 is currently hitting two month highs so the crash might not happen at all. But I would still be prepared for a stock market crash and keep my investment wishlist ready to add stocks to my investment portfolio if their prices drop.

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The opinions expressed on the companies mentioned in this article are those of the author and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. At The Motley Fool, we believe that considering a wide range of ideas makes us better investors.

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Book creator

Meet the Food Guy Steve Dolinsky – NBC Chicago

Steve Dolinsky has won 13 James Beard Awards for his television, radio and podcast work.

He is the Food Reporter for NBC 5 (Chicago), where his “Food Guy” reports air every Thursday night at 10pm.

Steve is also the producer and host of “Pizza City,” a bi-monthly podcast featuring some of the nation’s biggest pizza makers, and was previously co-creator and co-host of The Feed Podcast with Chef Rick Bayless. (which garnered a Beard Award in 2015 for Best Podcast), a weekly show that ran from 2014 to 2019. He also wrote food and travel stories for the Travel sections of the Chicago Tribune and The Globe and Mail of Canada, and has frequently contributed to public radio. “The world” of International.

Steve is the author of “Pizza City, USA: 101 Reasons Chicago is America’s Biggest Pizza City” (Northwestern University Press). To write the book, he visited 185 places in Chicagoland over the course of six months of meals. His “Pizza City USA Tours” began in May 2018. Steve runs four tours around the city, each giving guests the chance to sample four styles of pizza in three hours. There is one bus tour (usually led by Steve) and three walking tours each weekend. More information on His second book, “The Ultimate Chicago Pizza Guide: A History of Squares & Slices in the Windy City” is due out in fall 2021.

On the board side, Steve launched Culinary Communications, a food industry-focused media training company that works with chefs and other food and beverage professionals outside of Chicago, teaching them how to prepare. and manage all kinds of media exposure. He also works with real estate companies to organize spaces involving food and beverage clients, organizes and leads virtual pizza and / or cocktail experiences for businesses, and works with individual clients to organize unique dining experiences.

Since 2009, Steve has been one of the 26 Presidents of the Academy of the 50 Best Restaurants in the World, recruiting and supervising 40 voters in the Mid-USA / Canada region. He has spoken and / or hosted several industry events including the James Beard Awards, Food & Wine Magazine Classic in Aspen, and the New York City Wine and Food Festival.

Steve volunteers for Chicago area charities that focus on fighting hunger, including Share Our Strength and Meals on Wheels.

Prior to joining ABC 7, Steve was executive producer and host of “Good Eating”. The weekly half-hour show aired on CLTV, the 24-hour cable news channel owned by The Tribune Company. He produced and hosted 52 shows a year for 8 years, winning six Beard Awards for his work there.

You can follow his culinary adventures on Twitter and Instagram @stevedolinsky, as well as on his website:

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Writer market

Stocks Open Lower As Volatility Hits Wall Street; oil drops

A man wearing a protective mask walks past an electronic board displaying Japan's Nikkei 225 index at a securities firm on Wednesday, October 6, 2021 in Tokyo.  Asian stocks slid in cautious trading on Wednesday, ignoring a rally on Wall Street, with the Tokyo Nikkei 225 index retreating after an open higher.  (AP Photo / Eugene Hoshiko)

A man wearing a protective mask walks past an electronic board displaying Japan’s Nikkei 225 index at a securities firm on Wednesday, October 6, 2021 in Tokyo. Asian stocks slid in cautious trading on Wednesday, ignoring a rally on Wall Street, with Tokyo’s Nikkei 225 index retreating after an open higher. (AP Photo / Eugene Hoshiko)


Stocks fall on Wall Street as the market experiences a period of volatility. The S&P 500 fell 0.6% on Wednesday morning. The benchmark has alternated gains and losses of over 1% over the previous four days. The Dow Jones Industrial Average slipped 0.5% and the Nasdaq slipped 0.7%. International markets also sold off, with trade in Japan, South Korea, Germany and France all falling by more than 1%. Energy prices retreat after a strong recovery which has helped rekindle inflationary fears among investors. US oil fell 1.6% to $ 77.66 a barrel and natural gas fell 8.1%. The yield on the 10-year Treasury bill fell to 1.51%.

THIS IS A CURRENT UPDATE. AP’s previous story follows below.

Global stocks slid in cautious trading on Wednesday, ignoring a rally on Wall Street led by tech companies and banks that wiped out most of the losses from the previous day’s sell-off.

The French CAC 40 fell 1.9% early in trading to 6,450.56, while the German DAX fell 2.1% to 14,869.63. The UK FTSE 100 lost 1.6% to 6,964.13. The future of Dow industrials fell 0.9% to 33,860.00. S&P 500 futures were down 1.2% to 4,280.00.

Japan’s Nikkei 225 benchmark fell 1.1% to end at 27,528.87 for its eighth consecutive session of losses.

South Korea’s Kospi fell 1.8% to 2,908.31. The Australian S & P / ASX 200 lost 0.6% to 7,206.50. The Hong Kong Hang Seng edged down 0.6% to 23,966.49. The trade was closed in Shanghai for the Chinese national holidays.

Concerns remain in Asia over ongoing coronavirus infections, although hopes are growing that economic activity will be closer to normal later this year, rebounding from the deep downturn in 2020.

“On the risk front, China’s credit problems and contagion risks have certainly not abated, with developer concerns still surfacing. As such, caution has not been thrown to the winds, ”said Tan Boon Heng of the Asia and Oceania Treasury Department at Mizuho Bank in Singapore.

The risk of default by real estate developer China Evergrande Group of defaulting on its debt of more than $ 300 billion has alarmed investors already worried about the slowdown in Chinese growth.

The outlook for Japan, the world’s third-largest economy, remains uncertain. Fitch’s agency maintained a “negative outlook” for Japan, citing “downside risks to the macroeconomic and fiscal outlook from the coronavirus shock.”

Shares fell in New Zealand after its central bank raised interest rates for the first time in more than seven years, removing some of the support it put in place when the coronavirus pandemic began.

The Reserve Bank raised the benchmark rate from a record high of 0.25% to 0.5%. The move came despite a lockdown in Auckland due to a coronavirus outbreak.

The bank said inflation is expected to rise to 4% in the short term before falling to 2% in the medium term.

The market has been choppy for weeks, with inflation worries driving up and down swings for tech companies and the market at large.

Yet Wall Street still expects solid corporate profit growth when the third quarter earnings season kicks off later this month. S&P 500 companies are expected to post a 27.7% increase in profits for the July-September quarter from a year earlier, according to FactSet.

In energy trading, benchmark US crude fell 27 cents to $ 78.66 a barrel in electronic trading on the New York Mercantile Exchange. It gained $ 1.31 to $ 78.93 a barrel on Tuesday.

Brent crude, the international standard, fell 26 cents to $ 82.30 a barrel.

In currency trading, the US dollar rose from 111.45 yen to 111.56 Japanese yen. The euro cost $ 1.1546, compared to $ 1.1601.

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Writer market

Stocks drop in tech, oil hits highest since 2014

People stand near a bank's electronic board showing the Hong Kong Stock Index on the Hong Kong Stock Exchange in Hong Kong on Monday, October 4, 2021. Asian markets were mixed on Monday, while the benchmark index of Hong Kong lost more than 2% after China property developer struggled Evergrande shares were suspended from trading.  (AP Photo / Vincent Yu)

People stand near a bank’s electronic board showing the Hong Kong Stock Index on the Hong Kong Stock Exchange in Hong Kong on Monday, October 4, 2021. Asian markets were mixed on Monday, while the benchmark index of Hong Kong lost more than 2% after China property developer struggled Evergrande shares were suspended from trading. (AP Photo / Vincent Yu)


Stocks fell sharply on Monday afternoon as Wall Street just had its worst week since the winter. The price of oil hit a seven-year high as OPEC and allied oil producers stuck to a plan to cautiously increase production even as global demand for crude oil increases.

The S&P 500 fell 1.4% at 12:03 a.m. Eastern time. The Dow Jones Industrial Average lost 363 points, or 1.1%, to 33,962.

Losses in tech stocks pushed the Nasdaq down 2.3%. Apple fell 2.5% and Microsoft 2.4%. The big communications companies have also slipped. Facebook fell 4.7%.

US crude oil prices rose 2.6% and topped $ 77 a barrel for the first time since 2014. OPEC and allied oil-producing countries on Monday decided to maintain their cautious approach to restore oil production. reduced oil during the pandemic, agreeing to add 400,000 barrels per day in November.

Natural gas prices jumped 5.7%. Energy companies have increased along with energy prices. Devon Energy rose 3.9%.

The 10-year Treasury yield fell from 1.47% on Friday to 1.48%. The return was 1.31% on September 20 and the recent surge contributed to the weakness in tech stocks. A rapid rise in interest rates has made it necessary to reassess whether stocks have become too expensive, especially the already expensive tech companies.

Investors are increasingly worried about inflation as oil prices rise and companies continue to face supply issues that drive up their costs and force them to raise prices. Wall Street is also worried about the Federal Reserve’s timing to reduce its bond purchases and its possible decision to raise its benchmark interest rate.

“You really have a lot of reasons for the Band to be trading defensively right now,” said Julian Emanuel, chief equities and derivatives strategist at BTIG. “If you’re not going to see the bond market pick up and yields go down, then you’re likely to see more volatility in stocks,” he said.

Investors are also bracing for the latest round of corporate earnings, which will rise over the coming weeks. They are also closely monitoring economic data for more signals on the pace of the recovery as businesses and consumers continue to grapple with the impact of COVID-19 and the highly contagious delta variant.

Wall Street will get more information on the health of the economy this week. On Tuesday, the Institute for Supply Management will release its service sector index for September. The service sector is the largest part of the economy and its health is a key factor for growth.

The Ministry of Labor will release its employment report for September on Friday. The job market is struggling to fully recover from the damage caused by COVID-19 over a year ago.

Tesla rose 1.5% after the electric vehicle maker reported surprisingly good third quarter deliveries.

In Asia, the Hong Kong benchmark fell more than 2% after shares in struggling real estate developer China Evergrande were suspended. Stocks in most European markets edged up.

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Fiction publisher

Law Review: Bulwer-Lytton Prize, Part Two

As a reminder: the Bulwer-Lytton competition is named after the novelist Edward George Earl Bulwer-Lytton who wrote many famous novels including “Paul Gifford” which began with the words immortal (often parodied), “It was a dark night and stormy “.

The Competition rewards novice writers who compose intentionally bad opening sentences for imaginary novels. These are some of my favorites.


Our story begins in the cozy cottage of Bynnoldh-Dyr, son of Asgwitch-Torgwyr, in the idyllic Elven village of Myrthffolwrd, but our book actually begins some two hundred pages earlier, in which you are pummeled by an irrelevant story and unpronounceable names, because my publisher pays me per word. (Fantasy & Horror, Dishonorable Mention)


The cat purred like a Geiger counter beside the fireplace which crackled like a gunshot (which reminded Detective Greenwich of his service in Ukraine and Latvia), with this feline the only witness to the nanny’s murder and, at least let the purr count, he didn’t speak. (Crime & Detective, Dishonorable Mention)


It wasn’t until Liam sat down, wrapped in a white, blue, and red flag, with a bucket of fried chicken, throwing the bones into the plastic-filled ocean next to him while stroking his gun that he realized he had become truly American. (Odious Outliers, Dishonoring Mention)


His fist hit like one of those boxing gloves on a spring that you used to see in the Saturday morning cartoons when you were just a kid crazy about sugary cereal and unaware your parents were making it. love in the bedroom and hit me hard right between the eyes. (Odious Outliers, Dishonoring Mention)


Standing atop his half-finished pyramid, and surveying the long rows of stone extractors and crackers, the Pharaoh had a doubt: was he building the key to his eternal life, or would he later be seen as a mere tourist trap? (Historical fiction, Dishonorable mention)


Neanderthal parents Hru-Vak and Chee weren’t too happy when their eldest daughter Fa-al brought home one of those recently arrived Homo sapien boys, but after a while they got used to her arcade. non-protruding eyebrow, straight posture and problem-solving skills. capabilities. (Historical fiction, Dishonorable mention)


Despite an exhaustive search, rescuers were unable to locate young Christopher Robin in the Hundred Acre Woods until hypothermia took hold of him, and the animals he once called friends descended on his corpse like an old man. silly bear on a jar of honey. (Literature for children and young adults, Laureate)


Little Timmy was suffering from Claustraphobia: the fear of being trapped in a closet with Santa Claus. (Youth and youth literature, Dishonorable mention)


Even though Bambi the deer grew up to be a sleek and powerful 10-point buck, the other deer often berated him about his name, which was a perfectly apt name for a cocktail waitress but not so much for a deer. male. (Youth and youth literature, Dishonorable mention)


Mary savored her stew, savoring each hot and tasty bite, each one reminding her of her little lamb, Coco, and the way he happily hopped beside her as they walked down the alley. . . speaking of Coco, where was he anyway? (Youth and youth literature, Dishonorable mention)


“Ding dong, the witch is dead, ding dong, the witch is dead, ding. . . “before I could tenor the next” dong “, the black cat that sat on the anonymous grave stared at me with a strange look and a sudden explosion of sparks overwhelmed me and changed me from a villager to a green frog, and now I spend my days sitting at the edge of the duck pond in which we drowned the witch, all alone and afraid that a Frenchman will come and please me on my little legs. (Youth and Youth Literature, Mention dishonorable)


As Snow White, the most beautiful of them all, rushes into the forest to escape the death of her evil stepmother, she is about to be the most unhappy of them all, as she is now trapped in a miniature house as a pseudo-mother of seven. man children. (Youth and youth literature, Dishonorable mention)


The post-game cake, a long-standing tradition for the Mudville Nine, was taken off the menu when new manager Sperb Farquhar made it clear that everyone, including the team’s hitters, would be called upon to sacrifice bundt. (Vile Puns, Dishonorable Mention)


The Door to Happiness, which was now closed so cruelly for Clare, had been slammed the day Jimmy died, yet she lived in the hope that someday someone would come somewhere, not maybe with that key. Jimmy’s superior, the one that matched the lock of his affections so perfectly, but one like the key card that finally manages to open the door to your dreary motel room after a whole bunch of shaking and fiddling. (Romance, Dishonorable Mention)

Jim Porter is a Porter Simon attorney licensed in California and Nevada, with offices in Truckee and Tahoe City, California, and Reno, Nevada. Jim’s practice areas include: real estate, development, construction, business, HOA, contracts, personal injury, accidents, mediation, and other transactional matters. He can be contacted at [email protected] or

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Writer market

Rising bond yields scare investors, deflate tech stocks

People wearing face masks walk past the electronic board of a bank displaying the Hong Kong stock index in Hong Kong on Tuesday, September 28, 2021. Asian stocks fell mainly on Tuesday as concerns over China rocked the bank. investor optimism after mixed results on Wall Street.  (AP Photo / Kin Cheung)

People wearing face masks walk past the electronic board of a bank displaying the Hong Kong stock index in Hong Kong on Tuesday, September 28, 2021. Asian stocks fell mainly on Tuesday as concerns over China rocked the bank. investor optimism after mixed results on Wall Street. (AP Photo / Kin Cheung)


Tech companies led a large decline in stocks on Wall Street on Tuesday, accentuating the market’s collapse in September.

The S&P 500 fell 2%, its worst drop since May. The tech-rich Nasdaq fell 2.8%, its biggest drop since March. Descenders outnumbered New York Stock Exchange advances 4 to 1.

The benchmark S&P 500 is down 3.8% since the start of the month and on pace with its first monthly loss since January. The September crisis was an exception to a mostly steady stream of gains so far this year, which has pushed the S&P 500 up 15.9% since the start of 2021.

The sell-off came as a rapid rise in Treasury yields is forcing investors to reassess whether prices have been too high for stocks, especially the more popular ones. The yield on the 10-year Treasury bill, a benchmark for many types of loans, including mortgages, jumped to 1.54%. This is its highest level since the end of June and up from 1.32% a week ago.

Bond yields started rising last week after the Federal Reserve sent the clearest signals yet that the central bank is moving closer to start pulling back the unprecedented support it has provided to the economy throughout throughout the pandemic. The Fed has indicated that it may start raising its benchmark interest rate over the next year and will likely start slashing the pace of its monthly bond purchases before the end of this year.

“This is all taking one of the weights that was keeping returns low and removing it,” said Sameer Samana, senior global markets strategist at Wells Fargo Investment Institute. “This clearly has a big impact on large caps, higher growth, multiple stocks.

Higher yields mean Treasuries pay more interest, causing investors to pay less high prices for stocks and other things that are riskier bets than super-safe US government bonds. . The recent rate hike has hit tech stocks particularly hard, as their prices appear to be more expensive than the rest of the market, relative to their earnings.

There have also been many tech stocks recently offered due to expectations of significant earnings growth in the distant future. When interest rates are low, an investor doesn’t lose much by paying high prices for the stock and waiting years for growth to occur. But when Treasuries pay more in the meantime, investors are less willing.

The S&P 500 lost 90.48 points to 4,352.63. The Dow Jones Industrial Average lost 569.38 points, or 1.6%, to 34,299.99. The blue chip index briefly lost 614 points.

Small business stocks also lost ground. The Russell 2000 Index lost 51.23 points, or 2.2%, to 2,229.78.

This week’s slump for the market is reminiscent of an episode earlier this year when expectations of rising inflation and a stronger economy pushed Treasury yields up sharply. The 10-year rate jumped to nearly 1.75% in March after starting the year around 0.90%. Tech stocks were also hit hard by this slowdown.

Chipmaker Nvidia fell 4.4%, Apple slipped 2.4%, and Microsoft fell 3.6%. The wider tech sector is also facing a global shortage of chips and parts due to the virus pandemic and this could worsen as an electricity crisis in parts of China closes factories.

Communication companies have also weighed on the market. Facebook and Google’s parent company Alphabet each fell 3.7%.

Energy was the only sector in the S&P 500 that was not in the red. Exxon Mobil rose 1% and Schlumberger gained 2.4% for the biggest gain among S&P 500 stocks.

Another lingering concern in the market originating in China is the possible collapse of one of China’s largest real estate developers. Evergrande Group is fighting to avoid default on billions of dollars in debt.

Asian markets were mixed while European markets fell.

Investors faced a turbulent market in September as they tried to assess the progress of the economic recovery and its impact on various industries.

COVID-19 remains a persistent threat and continues to wreak havoc on businesses and consumers. Economic data on consumer spending and the labor market are mixed. US consumer confidence fell for the third consecutive month in September, according to a Conference Board report.

Companies warn that supply chain issues and rising prices could hurt sales and profits. The Federal Reserve has maintained that the rise in inflation is temporary and linked to these supply chain issues as the economy recovers from the pandemic. Investors continue to fear that higher inflation may no longer be permanent, and rising bond yields reflect some of these concerns.

“At the end of the day, the supply chain thesis is really tested and the Fed, businesses and consumers have had to react to some of the realities on the ground,” said Eric Freedman, chief investment officer at US Bank Wealth Management. .

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Book creator

At 75, the Ojai Music Festival remains focused on the future

OJAI, Calif .– The return is a process. It is rarely linear.

The Ojai Music Festival, for example, returned September 16-19 to celebrate its 75th birthday after a long pandemic absence. But there have been setbacks among the returns. Compromises were made to accommodate her move from spring to the last days of summer. An artist has been detained in Spain by travel restrictions. Diligently enforced security measures have slightly hardened the mood of this historic event, a harsh yet relaxing haven for contemporary music nestled in an idyllic valley of deadpan mysticism and sweet Pixie tangerines.

This edition of the festival is the first under the leadership of Ara Guzelimian, back at the helm after a race in the 1990s. Each year, the person in his position organizes the programming with a new musical director; for Guzelimian’s debut, he chose composer John Adams, the paterfamilias of American classical music, who was born in the year of the first festival. Uninterested in a retrospective for this milestone anniversary, they presented their concerts as a prospective survey of young artists, which befits a festival that has long focused on the future.

But in music, the past, present and future always inform each other. Bach and Beethoven haunted new and recent works; pianist Vikingur Olafsson treated Mozart, as he likes to say, as if the ink had just dried on the sheet music. There is no future without looking back.

Guzelimian and Adams looked back as far as they could as they weaved the valley’s Indigenous history into the festival. The cover of her program was the photograph of Cindy Pitou Burton “Ghost Poppy” – the name of the flower given by the Chumash people, the first known inhabitants of this region, who after the arrival of Europeans were almost wiped out by disease. and violence, and who no longer have land in Ojai.

It’s a story that was shared, among lighter stories, by Chumash elder Julie Tumamait-Stenslie, who opened Friday’s lineup with tales about a misty field in Soule Park; that night she started a concert with a blessing.

Despite the best intentions, these were among the highlights of the festival. The predominantly white and wealthy audience responded to details of colonial brutality with a subconsciously affirming buzz, much as they later applauded. “Building a House” by Rhiannon Giddens a searing, sweeping accusation in American history – as if those listeners weren’t involved in his message.

The festival was at its best when the music spoke for itself. (Most concerts are broadcast online.) It must be said, however, that programming still had its limits; just as this review cannot cover the whole event, the three days of Ojai (and a brief prelude the night before) represented only a fragment of the field and excluded some of the more thorny and more experimental in progress.

Adams was nonetheless interested, it seems, in artists who operate as if they were free from orthodoxy and the genre – far from what he called “the bad old days” of modernism. .

Beyond the composers, this translated to the performers, a roster that included the festival orchestra (not just a pickup band with brilliant violinist Alexi Kenney as first violin); members of the Los Angeles Philharmonic New Music Group; and the Los Angeles Chamber Orchestra. And soloists like violinist – for one piece, also violist – Miranda Cuckson, who called upon the strength of a complete ensemble in Anthony Cheung’s “Studies of Character” and Dai Fujikura’s “Prism Spectra”, and followed with agility Bach’s Second Partita with “Friezes” in place of the famous Chaconne finale of the partita.

Olafsson, whose recordings demonstrated his genius as a programmer – with a keen ear for connections within the work of a single composer, or across centuries and genres – convincingly moderated a conversation between Rameau, Debussy and Philip Glass, as well as another on Mozart. and his contemporaries, with a masterful voice and enlightening clarity.

Giddens was equally at home in a range of styles, his polymathic musicality and chameleonic voice unfolding as touchingly in an Adams tune as it did in American folk. Playing with her own band (whose members include Francesco Turrisi, her partner), she was unmoved and charismatic; alongside the Attacca quartet, she simply sat in front of a microphone with a laser focused gaze, commanding the stage with only her sound.

Attacca’s appearance was only too brief, but might justify their own turn to run the festival someday. Whether in the works of Adams, Jessie Montgomery or Caroline Shaw, in the episodic “Benkei’s Standing Death” by Paul Wiancko or in the jam-like “Carrot Revolution” by Gabriella Smith, these players with open ears and open-minded people don’t seem to bring a piece to the scene until it’s engraved in their bones, so much each score is embodied.

There was an overlap of composer and performer in Timo Andres, whose works were well represented but who also served as a soloist – scintillating, patient and tender – in Ingram Marshall’s magnificent piano concerto “Flow”.

Andres then gave a cold Sunday morning recital that opened with selections from “I’m still playing” a set of miniatures written for Robert Hurwitz, the longtime and influential frontman of Nonesuch Records. It continued with one of Samuel Adams’ Impromptus, an inspired piece of keyboard writing designed to complement Schubert, with lightnings by that composer as well as warmth and subtle harmonic undertones to match. And it ended with the first live performance of Smith’s “Imaginary Pancake,” which had a respectable start online at the start of the pandemic but really roared in person.

In very Ojai fashion, there were so many living composers scheduled that Esa-Pekka Salonen was not even called a headliner. Rather, he was a known quantity that involuntarily faded amid the novelty of the other voices. Carlos Simon’s propulsive and galvanizing “Fate Now Conquers” winked at Beethoven, but on its own cheeky terms. And there are still only promises in the emergence of Inti Figgis-Vizueta, whose “To give you shape and breath”, for three percussionists, slyly distorted time in a juxtaposition of resonating and dull sounds of found objects such as wood and planters.

Much of the real estate was donated to Gabriela Ortiz, who in addition to being performed – providing a wonderfully exciting climax for the festival with an expanded version of her “La calaca” on Sunday night – stepped in as curator when an Anna Margules recital was canceled because she couldn’t travel to the United States. This concert, an investigation of Mexican composers, offered one of the great delights of the festival: percussionist Lynn Vartan in Javier Álvarez’s “Temazcal”, a work for maracas and electronics that demands a dancing performance in a revelation of acoustic possibilities. of an instrument most people treat as just a toy.

Ortiz’s chamber works revealed a knack for surprising acoustic chords, such as two harps and a steel plan in “Río de las Mariposas,” which opened a late-morning concert on Sunday. It’s a sound that had a brother in a premiere that ended this program: “Sunt Lacrimae Rerum” by Dylan Mattingly, its title taken from “The Aeneid”.

The work is also for two harps (Emily Levin and Julie Smith Phillips) – but also for two pianos which, microtonally out of tune, could sometimes be mistaken for the sound of a steel pan. There is a slight dissonance, but not unpleasant; the effect is more like memory distortion. And there was nothing unpleasant about this cry of joy. Ecstasy emanated from the open pianos, played by Joanne Pearce Martin and Vicki Ray, as they were lightly hammered at their upper registers, joined by the sparkle of the music box in the harps.

The mood became more meditative in the comparatively subdued midsection, but the carrying thrill of the opening returned at the end: first in fragments, then at full strength. “Sunt Lacrimae Rerum” was the last work of the festival, a piece that looked back on a year that was traumatic for all of us. But Mattingly met the moment with music that was teeming with provocative and unfazed hope for the future.

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Asian Stocks Extend Losses As China Worries About Darkening Sentiment | Economic news

By YURI KAGEYAMA, AP Business Writer

TOKYO (AP) – Asian stocks fell on Tuesday, Tokyo down 2% as concerns over heavily indebted Chinese real estate developers weighed on sentiment.

On Monday, US stocks posted their biggest drop since May, with the highly technical Nasdaq composite slumping 2.2%.

Markets were closed Tuesday in Taiwan, Shanghai and South Korea.

In Hong Kong, the Hang Seng fell 0.5% to 23,971.73 as sales from real estate developers slowed.

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The Nikkei 225 lost 601.48 points to 29,898.57. The Australian S&P ASX 200 slipped 0.1% to 7,244.80.

Analysts said fears that the damage caused by a real estate crisis in China would spill over into the world were based on memories of past financial crises such as the bursting of the Japanese economic “bubble” or the crisis. subprime mortgages in 2008.

In Japan, this disaster is called the Lehman Crisis for the collapse of Lehman Brothers in 2008 which made the situation worse.

“The whisper is that this could be China’s ‘Lehman moment’. Even with the Chinese markets closing until Wednesday, we are seeing massive sales around the world, ”RaboResearch said.

The S&P 500 fell 1.7% on Monday to 4,357.73, its biggest drop since May. The S&P 500 was emerging from two weeks of losses and is on track for its first monthly decline since January.

The Dow Jones Industrial Average fell 1.8% to 33,970.47. The Nasdaq lost 2.2% to 14,713.90. The Russell 2000 fell 2.4% to 2,182.20.

Tech companies have led the market as a whole to the downside. Apple fell 2.1% and chipmaker Nvidia fell 3.6%.

Airlines were among the few bright spots. American Airlines rose 3% to dominate all S&P 500 winners. Delta Air Lines rose 1.7% and United Airlines added 1.6%.

“What has happened here is that the list of risks has finally become too long to ignore,” said Michael Arone, chief investment strategist at State Street Global Advisors. “There is just a lot of uncertainty at a difficult seasonal time for the markets.”

Concerns about Chinese real estate developers and debt have recently focused on Evergrande, one of China’s largest real estate developers, which appears to be unable to repay its debts.

These real estate companies have been major engines of China’s economy, which is the second largest in the world.

If they fail to repay their debts, the heavy losses suffered by investors who hold their bonds would raise concerns about their financial strength. These bondholders could also be forced to sell other independent investments to raise funds, which could hurt prices in seemingly independent markets.

It’s a product of how global markets have become tightly connected, and it’s a concept the financial world calls “contagion.”

Many analysts say they expect the Chinese government to prevent such a scenario, and that it doesn’t sound like a Lehman-type moment. Still, any hint of uncertainty may be enough to upend Wall Street after the S&P 500 has climbed almost uninterruptedly since October, leaving stocks looking expensive and with less margin for error.

In addition to these concerns, investors are watching to see if the Federal Reserve could ease off on its support for the economy. And heavy government spending to counter the impact of the pandemic has increased the likelihood that Congress will opt for a destructive chicken game before allowing the US Treasury to borrow more money.

The Fed is due to release its latest update on economic policy and interest rates on Wednesday.

In energy trading, benchmark US crude rose 61 cents to $ 70.90 a barrel. Brent crude, the international standard, added 57 cents to $ 74.49 a barrel.

In currency trading, the US dollar added 10 cents to 109.49 Japanese yen. The euro cost $ 1.1740, compared to $ 1.1726.

AP Business Writers Damian J. Troise, Stan Choe and Alex Veiga contributed.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Marlboro Man’s $ 8 Million Market House near the Black Forest | North Springs Edition

Marlboro Man’s $ 8 million house on the edge of the Black Forest is up for grabs.

Bob Norris, the non-smoker who portrayed the archetypal cowboy in Marlboro cigarette advertisements in the 1950s and 1960s, found his perfect location north of Colorado Springs in 1961. He had a perfect view on Pikes Peak and felt like the perfect place to build a house. and raising a family, according to listing broker Amie Streater of Engel & Völkers.

Spanning 15 acres, the 14,430 square foot home at 12795 Oak Cliff Way now features eight bedrooms, 10 bathrooms, a 5,300 square foot indoor ice rink with changing room, cinema, two heated three-car garages, tennis court and pickleball courts, a saltwater pool and a small sanctuary dedicated to Norris in the kitchen, which includes photos and an inscription of his favorite sayings.

Bob Norris, a non-smoker who portrayed the archetypal cowboy in Marlboro cigarette advertisements in the 1950s and 1960s, found his ideal location for a house north of Colorado Springs in 1961.

The list can be viewed online at

“It’s very welcoming, very comfortable,” Streater said. “There is an overwhelming sense of peace and relaxation that you don’t normally see in a home at this price point. These types of homes can be imposing and intimidating. They can feel very embarrassed and uncomfortable. It feels like home.

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Bob Norris, the first Marlboro Man, built a house near the Black Forest in 1961. The last owners added an indoor ice rink, which can also be used without ice as an arena. The property is for sale for $ 8 million. Courtesy of Engel & Völkers

Norris, his wife and four children lived in the house for 10 to 12 years, after the tobacco company recruited him in 1955. In 1964, the surgeon general declared that smoking was dangerous for health, and some years later, Norris’ conscience got the better of him – he quit his job at Marlboro, claiming he thought he was setting a bad example for his children, according to a New York Times obituary. Norris was 90 when he died almost two years ago in Springs. His wife, Jane Norris, died in 2016. She was 88 years old.

091521 norris 8.jpg

Bob Norris, the first Marlboro Man, his wife and four children lived in their Black Forest home for 10 to 12 years. Since then, three other families have owned the property, including the current owners, real estate developer Rob Oldach and his wife, Denise Oldach, who bought the property in 2006 for $ 2.6 million. They spent nearly $ 6 million renovating the property, including adding the ice rink, which was used for hockey, skating, parties and charity activities. The arena, minus the ice, was also used for soccer, line hockey, pickle ball, and other sports and games. Courtesy of Engel & Völkers

After the Norrises, three other families have owned the property, including its current owners, real estate developer Rob Oldach and his wife, Denise Oldach, who bought the property in 2006 for $ 2.6 million. They spent nearly $ 6 million renovating the property, including adding the ice rink, which was used for hockey, skating, parties and charity activities. The arena, without the ice, was also used for soccer, line hockey, pickleball, and other sports and games.

091521 norris 9.jpg

Spanning 15 acres, Bob Norris’ 14,430 square foot home now features eight bedrooms, 10 bathrooms, a 5,300 square foot indoor ice rink with changing room, movie theater, two heated three-car garages, tennis courts and pickleball, saltwater pool and a little sanctuary at Norris in the kitchen, which includes photos and an inscription of his favorite sayings. The list can be viewed online at Courtesy of Engel & Völkers

The Oldachs first put the house up for sale in 2014 for $ 7.2 million. The price has fluctuated since then and was recently taken over by Engel & Völkers and relisted.

091521 norris.jpg

Bob Norris’ former home, located at 12795 Oak Cliff Way, now features eight bedrooms, 10 bathrooms, a 5,300 square foot indoor ice rink with changing room, cinema, two heated three-car garages, tennis courts and from pickleball, saltwater pool and a little sanctuary to Norris in the kitchen, which includes photos and an inscription of his favorite sayings. Courtesy of Engel & Völkers

“What impresses me is the long, winding road through the forest,” Streater said. “When you get off Hwy 83 and Shoup Road and walk down the driveway, it’s a transformation. The car stops at the automatic gates and they open and there’s this beautiful house.

Contact the author: [email protected]

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Reading and writing

How accounting giants craft favorable tax rules inside government

This year, Mr. Harter returned to PwC.

“I have fully complied with the Treasury Department’s conflict rules by not meeting with PwC officials” during a two-year ‘cooling off’ period that prevents government officials from meeting their former employers, said Mr. Harter. Although he participated in the construction of the offshore tax relief and met with corporate lobbyists, Mr Harter said he did not recall meeting Ms Olson or other PwC officials on the matter.

Ms Olson referred the questions to PwC.

The 2017 tax overhaul included a provision allowing certain people to benefit from a 20% tax deduction on certain types of business income. But the law … known as section 199A – largely excluded an undefined category of “brokerage services”. In 2018, lobbyists from several industries, including real estate and insurance, went to the Treasury to try to persuade officials that the broker ban should not apply to them.

On August 1, records show Ms Ellis met with her former PwC colleague, Mr Feuerstein, and three other lobbyists for her client, the National Association of Realtors. They wanted real estate brokers to be entitled to the 20% deduction.

The meeting took place even before the first draft of the proposed rules were made public, which meant that from the start Ms Ellis’ former PwC colleague and her client had a privileged lead.

When the Treasury released its first version of the rules proposed a week later, real estate brokers were eligible. The national association of real estate agents took the credit for the victory on its website. (The final rules only applied to brokers in stocks and other securities.)

Ms Ellis’ meeting with Mr Feuerstein appeared to violate a federal ethical rule that prevents government officials from meeting with their former colleagues in the private sector, said Don Fox, acting director of the Office of Government Ethics under the Obama administration and, prior to that, a lawyer in the Republican and Democratic administrations.

Mr. Fox called the meeting improper. “It will definitely call into question the way this regulation was drafted,” he said. “There’s no way to undo the taint that’s going to be attached to it now.”

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McCrory Owners Cannot Oppose It | News, Sports, Jobs

The owners of the abandoned McCrory building on 11th Avenue apparently have no intention of filing preliminary objections to the city’s declaration to take possession of the property.

This could simplify the process of obtaining possession – but without ensuring that the city can take control immediately, according to the city’s attorney.

If the 30-day filing expires on Friday without objection, the main issue will be the payment of fair compensation, Tom Finn said at a city council meeting on Monday. Council members reiterated their concern that the building will not be salvageable unless it is stabilized before winter.

“(But) just because 30 days have expired, we can’t walk in there and do whatever we want”, Finn said afterwards.

If no preliminary objections are filed by Friday, the city could make an offer to “Fair estimated compensation” – an amount “The convict reasonably believes to be fair on the basis of the evaluations” by one or more experts, according to information from the West Chester law firm Lamb McErlane in an article on eminent field.

In addition, the city can ask the court for a “Title of possession” if the previous owner refuses to authorize the repossession, according to the information in the article.

In practice, however, there can be complications, according to Finn.

One of them documents fair compensation, he said.

The owners obtained an appraisal but did not share it with the city – although it took legal steps to obtain a copy, Finn said.

The appraisal would help provide the city with a basis on which to judge the distance that might exist between the parties on the value of the property, officials said.

The city may have commissioned its own assessment, although Finn refused to confirm it.

“I have no evaluation in my possession” he said.

If and when the city makes an offer, the owner can accept or reject it, and if the owner rejects and refuses to hand over the property, the city can apply to the court for a possession order, Finn said.

But that means filing a petition, serving that petition on the previous owner, and if the owner disputes the case, scheduling arguments and a court hearing.

It all takes time, he says.

Once he sees the owners’ assessment, he will have a better idea of ​​how long it will take for the city to take control of the building, Finn said. It would be easier if the parties agreed on the amount to be paid.

If the parties can’t come to an agreement, the case can go to a board of directors, Finn said.

Either party can apply for a board of directors, and that request must be made within six years of declaration of taking or payment of estimated fair compensation, according to Lamb McErlane.

There is a lawyer and usually two real estate experts on the board, appointed by the court, Finn said.

The board takes testimony, listens to expert advice, and then makes a recommendation on fair market value under current conditions, Finn said.

Either party can appeal the council’s decision to Blair County Court.

The judge would not be bound by what the council recommended and could hold a new hearing, Finn said.

Mirror staff writer William Kibler is at 814-949-7038.

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Should we prepare for a real estate crash in 2021?

pbk-pg /

Will there be a real estate crash in 2021? A majority of experts do not think so.

“People say we’re in a real estate bubble, but I don’t think the term real estate bubble is the right description, ”said Tabitha Mazzara, director of operations at mortgage lender MBanc. “A bubble is something that will burst. I see it as a phase. The market is cyclical, and there may be a slight fix, but it won’t be as bad as what we’ve seen In 2008. What is different today than what we saw in 2008 is that the people who are eligible for loans are actually qualified. They are solvent. Were in the situation we are in now because of simple supply and demand.

Buy: The cost of owning a 3 bedroom house in each state
Read more: Homes in these 25 waterfront towns are a total theft

Erik Wright of New Horizon Homebuyers has a similar opinion. “Personally, I think the factors influencing our current market are very different from those in 2008,” he said. “I expect the market to start to cool, but this will be more of a plateau than a crash. However, I’m still looking for how I can be prepared in case something serious. would happen and we were experiencing a real estate crash. “

So what should you do if you are planning to move into today’s housing market? What is the answer?

“Trying to prepare for a possible real estate crash is a bit like trying to prepare for a possible house fire, ”said Clay Risher, investment professional and columnist for Nareit, a trade publication for commercial, residential and mortgage real estate investment trusts. “All you can do is tone down risk as much as possible and hope for the best.

Whether you’re looking to stay put, sell, buy (or sell and buy), here are tips from seasoned industry experts to help you avoid the negative effects of a possible real estate crash in the future.

Other options: Buying a Home Is Crazy Right Now – Consider Renting In These 10 Cities To Save Money

Advice for homeowners not looking to sell

If you’re not looking to sell your home, you might be wondering if you should consider refinancing your home to save money over the life of your mortgage. Here’s what industry experts are saying.

“If you already own a house and you don’t plan to sell, you should still refinance now for insanely low rates, allowing you to sit back tight and withstand any storm that hits the market, ”said Dawn Pfaff, president of My State MLS, a national MLS and referral network.

Peter Murray, owner of Murray Steel Buildings, a residential and commercial construction company, supports Pfaff’s opinion. “Even if you bought your house in the years, you should spend time looking at mortgage refinancing rates. The last 12 months have shown mortgage financing rates that are lower than they have ever been. Depending on your financial situation, you may be able to refinance at a rate of around 2.5% -3.5% which could save you tens of thousands of dollars if not more in a 30 year mortgage. This doesn’t hurt to shop around for refinancing quotes – I would recommend looking at least three different providers and comparing prices.

Upgraded: 8 Insider Tips to Getting Rich in Real Estate
Home value: How much homes will be worth in your state by the end of 2021

Tips for homeowners considering selling

Maybe your home has temporarily increased in value due to the current market and you are tempted to sell it now to reap the benefits that will not be available forever. Here’s what the experts are saying.

“If you are planning to sell in the next few years, now is the time; the market is hot, interest rates are low and you will get the best deal for your home, ”Pfaff said.

However, Omer Reiner, licensed real estate agent and president of Florida Cash HomeBuyers, LLC, cautions against Pfaff’s advice:

“If you are a homeowner who is considering selling his property at take advantage of high selling prices, remember that selling high too goes hand in hand with a high buy, ”Reiner said. “It’s better to secure your next life situation before you put your house on the market to avoid getting stuck.

One way to sell your home without having to buy another right away is to rent until the market calms down. In the meantime, consult with a financial advisor and tax professional to find out how best to manage the profits you make from the sale of your home.

Housing Market: 50 Housing Markets Going Wrong

Advice for future home buyers

If you are considering buying a home, Murray recommends avoiding overpaying if possible. “It goes without saying that the accommodation the market is currently extremely competitive, with many homes for sale receive 10 to 25 cash offers, ”he said. “It usually means that you will pay too much in order to remain competitive. If you look at your house dreams, maybe it’s worth paying too much to get your offer accepted, but if it’s not your forever home, paying too much be immediately in the equity hole once the market has finally equalizes.

Eric Jeanette, owner of Dream Home Financing and FHA Lenders has a similar point of view:

“If you are a home buyer, consider waiting to buy,” he said. “Rent for a year and watch the market if you want to buy a house only to see its value drop in a market correction. However, if you are buying a home that you plan to live in for the next 20 years, today’s purchase price really shouldn’t be a concern. Just buy the house you prefer to live in today.

Good to know: States with the highest property taxes

Overbought is risky, and one way to avoid overbought is to follow Pfaff’s advice. She believes that you should create a strict home-buying budget before doing your home shopping and stick to it to avoid financial exhaustion.

While this could mean that you won’t end up buying a home just yet, you still have other options, such as refinancing, leasing, or just staying in your current living situation until the market. stabilizes.

More from GOBankingTaux

Last updated: August 4, 2021

This article originally appeared on Should You Prepare for a Housing Market Slump in 2021?

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Here is the biggest predictor of the success of a PSPC

When it comes to investing in specialized acquisition companies, or SAVS, there are plenty of choices. So how do you separate the long term winners from the rest of the pack? In this fool live Video clip, recorded July 12, contributor Matt Frankel, CFP, and Focus on industry Host Jason Moser talks about the one factor that turns out to be the best predictor of PSPC’s long-term returns.

Jason Moser: Matt, we talk a bit about PSPCs on this show, we even aired a four part series on PSPCs earlier this year. I had a lot of fun putting together these shows. You and I were talking about an article we just read here on CNBC regarding PSPCs. There was some interesting data from Wolfe Research in this article, it was talking about the performance of PSPCs. I think it’s basically about a year here. But these data from Wolfe Research indicate that, on average, the SAVS with experienced sponsors register higher returns since by the sponsors, it is the blank check company that introduces the real company into its universe, to make it. public. We want to talk about this for a minute, just from the larger SPAC perspective and what do you think of this data, what do you think it says? Then also talk a little more. There is one specific SPAC that has been in the headlines here in recent days, Galactic Virgo (NYSE: SPCE), for obvious reasons, a successful flight in space. But let’s go ahead and start with the broader implications here. Because it doesn’t sound that surprising, but at the same time, it feels like it’s still a very short timeline to be judged on.

Matt Frankel: It does and I think what they are trying to argue is that the market has been inundated with SAVS. I have some statistics here. In 2018, 46 PSPCs went public, in 2019 there were 59, in 2020 there were 248.

Moser: The sacred cow.

Frankel: Already in 2021, they were 367.

Moser: Wow.

Frankel: The market was inundated with them. In the old days, when you were a sponsor of SASP, it was because you knew something about the business or industry that you were trying to pursue. Now it’s like everyone with any credibility is starting a PSPC, Shaquille O’Neal has their own PSPC.

Moser: I was going to say you don’t even feel like you really need that credibility. All you need is a name.

Frankel: Unless he was trying to go public with the Los Angeles Lakers. I really don’t know how his experience would come into play.

Moser: Or Papa Jean‘s (NASDAQ: PZZA) maybe i could see at least one pizza place because he’s on the board of papa john’s i still think-

Frankel: He owns a lot of Five Guys.

Moser: It’s rather good.

Frankel: But I love Shaq, so nothing against Shaq.

Moser: Yes. Me too.

Frankel: But the point is, and it’s really one of the things that I’m looking for, everyone always says, how do you choose all of these PSPCs? There are 400, how do you decide which three to put in your wallet? This is one of the things that I watch. Remember Latch (NASDAQ: LTCH) we had at the show, they will make it public through an innovation acquisition from TSI sponsored by Tishman Speyer, one of the nation’s largest commercial real estate companies. He is clearly a sponsor who knows a lot about this industry, he is a good partner. In PSPCs, the partnership aspect is really undervalued. The celebrity aspect is getting too much attention and the partnership aspect is getting too little. Think of The Motley Fool’s investment strategy, how we want partner companies. We want companies where the CEO is a partner of their shareholders. When I was hired here, they told me that we would rather have a good partner than a great writer. It’s such a valuable part of business in general, and it’s become undervalued throughout the PSPC craze just because of all the big names throwing their names away and not even like sharks like Bill Ackman and Chamath [Palihapitiya].

Moser: Yes.

Frankel: Chamath worked at Facebook (NASDAQ: FB), has he ever started a space travel business? No, this one is well done. But this is the exception, not the rule according to this research.

Moser: Yes.

Frankel: There are a lot of successful SPACs that have partnered with people who know this industry very well. I mentioned Latch as a great example, 23 and me (NASDAQ: ME) you can safely say that Richard Branson has a lot of experience with consumer branding and things like that. I don’t think he did any genetic research himself, but that’s not really the issue, he’s a consumer products business at this point.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are heterogeneous! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.

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Book credit

Manhattan DA now has Trump’s tax returns

The tax and financial records that former President Donald J. Trump fought to keep secret for nearly 18 months have been turned over to the Manhattan District Attorney’s Office, which is investigating possible fraud by Mr. Trump and his business, an official said.

The voluminous files, including eight years of personal income tax returns, were turned over to prosecutors on Monday, the same day the Supreme Court rejected Mr. Trump’s latest offer to block a subpoena on their behalf.

A spokesperson for District Attorney Cyrus R. Vance Jr. confirmed in an email that the office received the files just hours after the court issued its brief unsigned order.

Mr Vance’s investigation, which began more than two years ago, recently focused on possible tax and bank fraud. Investigators are particularly wondering if the Trump Organization has inflated or otherwise manipulated the value of its properties in order to obtain loans and tax benefits.

Mr Trump lambasted Mr Vance and his investigators, saying their work is just the latest example of a politically motivated campaign to indict him criminally. In a lengthy statement reacting to the Supreme Court’s ruling, he again referred to the investigation as a “fishing, fishing” and “witch-hunt”, linking it to his other legal issues, including a special prosecutor’s investigation. on Russian interference in the 2016 elections and his two impeachment trials. He swore to “fight”.

The work facing Mr. Vance’s office is daunting. Prosecutors began to scan millions of pages of esoteric financial documents, saved as digital files. In addition, an external consulting firm set up by Mr. Vance scrutinizes commercial and tax real estate strategies. The office also enlisted the help of a former federal prosecutor, Mark F. Pomerantz, who has extensive experience with white collar workers and organized crime.

Public interest in the case remains at its peak in New York and other Democratic strongholds. This is a key issue in the campaign to succeed Mr Vance as Manhattan district attorney, although the eight candidates for the post, all Democrats, have mostly refrained from commenting on the details of his investigation.

Along with the Manhattan investigation, Mr. Trump is also the subject of a criminal investigation by Fulton County prosecutors in Atlanta, who are investigating his attempts to persuade officials to manipulate the election results in Georgia.

Despite the appetite for lawsuits among Democrats, experts say the case against the former president will not be easy to pursue.

“In an office that has handled so many high-profile cases over several decades, this would be the most high-profile case ever,” said Daniel R. Alonso, who was Mr. Vance’s senior deputy from 2010 to 2014. and who now practices in private practice. “We won’t know until we see the evidence how difficult it would be to get convictions, but cases like this are never easy.”

The Supreme Court ruling allowed Mr. Vance to obtain eight years of tax returns from Mr. Trump. But it also gave his office access to the business records underlying the information in those returns, which may contain important detail and context that prosecutors wouldn’t find in tax returns alone.

One of the goals of Mr. Vance’s investigation is to find out whether Mr. Trump’s company, the Trump Organization, falsely inflated the value of some of his signature properties to get the best loans possible, while downplaying values ​​for lowering property taxes, people familiar with the subject said. Prosecutors are also reviewing statements by the Trump Organization to insurance companies about the value of various assets.

If Mr. Vance were to indict Mr. Trump – which is far from a sure thing – the result would be the potential criminal trial of a former U.S. president, a startling event that would likely keep Mr. Trump’s name in the limelight. news for months. to come, but not on terms the former president would prefer.

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Bank with Louis DeNaples Offers $ 50 Million Relief Loan to Mount Airy Casino

Banker and businessman Louis A. DeNaples seems unable to stay clear and under the radar when it comes to his continued involvement in Mont-Airy Casino in pennsylvania Pocono Mountains.

More recently, it is FNC Bank, a piggy bank from Scranton, PA, with DeNaples and three family members on the board, drawing attention for a huge loan of 50 million dollars of a taxpayer-backed program to help midsize businesses during the coronavirus pandemic.

The beneficiary of the largesse of the FNC Bank via taxpayer money?

Why, it’s Mount Airy Casino, according to a recent story in the Philadelphia Investigator.

DeNaples’ presence thwarted the license of the Mount Airy mini-casino

And last year, it was DeNaples’ alleged presence in a failed bid by Mount Airy at add a mini-casino in Western PA who put him on the radar.

Regulators had previously told DeNaples he had to no practical implication with the casino company he created. They forced him to pass on ownership and control to his children and grandchildren. However, strangely, he remained licensed by PA because he stayed on loan guarantor to low income casino ownership.

Citing funding issues, the Pennsylvania Gaming Control Council (PGCB) revoked the license of the mini-casino. But a Beaver County online post alleged DeNaples continued to show up at local planning meetings, which was not allowed after being forced to relinquish control of Mount Airy.

The mini license lost by Mount Airy has since been resold by the state for 10,000 $ 101 To Ira lubert. A Philadelphia stocks and real estate man Lubert proposed to build the new satellite casino near State College, Pennsylvania.

DeNaples bought and rebuilt Mount Airy into a casino

DeNaples, an octogenarian, continuing his entanglement in the PA games industry despite being listed on Mafia Wiki is confusing, to say the least.

Despite alleged ties to a once powerful Mafia family in northeastern Pennsylvania, buffaloes, and one 1978 plea of ​​no contest that he and three others defrauded the federal government disaster recovery fund after tropical storm Agnes, it was obtained a casino license in late 2006.

A year later in 2007, he opened the refurbished Mount Airy Lodge like a $ 412 million casino.

Settlement of perjury charges deprived DeNaples of control of Mount Airy

But he would have lied about his relations with thugs, in particular William “Big Billy” D’Elia the last known leader of the Buffalino crime family. The namesake of the crime family was Russel buffalo, played by actor Joe Pesci in recent mafia movie Irish.

In 2006, the authorities indicted D’Elia for money laundering $ 600,000 in illegal drug money – oh, and I try to have a co-accused killed. Two years later, D’Elia pleaded guilty on less serious charges and spilled on DeNaples.

A the grand jury indicted DeNaples early 2008.

Load? Perjure before the Pennsylvania Gaming Control Board.

To settle the matter, DeNaples created a family trust run by his daughter, a dentist, for the casino property, which is in place to license renewal in August of next year.

Friends and family are the way DeNaples does business

Despite the confidence and obligation to stay out of day-to-day operations, DeNaples has repeatedly sought to do business with Mount Airy, the Pocono Record the newspaper reported.

The Times-Tribune of Scranton has consistently pointed out that DeNaples and its companies receive favors from the legislators to which it contributes. Businesses – auto parts, landfills, garbage collection, real estate – are operated from Dunmore, a suburb adjacent to Scranton.

The $ 50 million loan from Main Street Loan Program aims to answer strains caused by the virus. And it is not backed by DeNaples’ bank, but by the federal government.

This means the audience is hooked if Mount Airy fails.

PGCB spokesperson Doug Harbach declined, in the Applicant history, to determine if the loan could have violated a previous measure. The measure in question was intended to prevent DeNaples from profiting in any way from the casino.

Harbach said PlayPennsylvania Wednesday that he was not aware of any ongoing investigation of DeNaples by gaming regulators.

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Cents of Community: Is It Time to Refinance Your Home Loan?

This monthly column comes from Arlington Community Federal Credit Union as part of their community financial empowerment mission. Credit unions are member-owned, non-profit cooperatives and anyone who lives, works, worship, volunteers, goes to school, or does business in Arlington, Falls Church, Alexandria or the county. of Fairfax is eligible to join ACFCU. *

Your mortgage and home equity products are probably some of your biggest expenses.

With rates low, many people find it a good financial decision to refinance to meet their financial goals. If you’re thinking about refinancing, here are some reasons to contact your financial institution:

  • You are ready to consolidate your mortgage loans: If you got a first mortgage and an equity loan to buy your home, you may be able to refinance the two loans into one and lower your overall monthly payments. Equity loan rates tend to be higher than first mortgage rates, so you can save on the total interest paid over the life of the loan.
  • Cash in rfinance: Use the equity in your home to pay for major expenses like home improvement, college, vacations, or to pay off higher interest credit card debt.
  • Lower rate and lower payments: Refinance at a lower interest rate to reduce monthly payments and the overall amount of interest paid over the life of the loan.
  • Shorten the duration: To build equity faster, reduce the interest paid over the life of the loan. If you’ve owned your home for several years, you can shorten your term and keep roughly the same monthly payment.
  • Change product: Many people refinance from an adjustable rate mortgage (ARM) to a fixed rate product. ARM rates are generally lower and are popular for entering a home for the lowest monthly payment. However, with an ARM loan, your interest rate and the resulting monthly payments fluctuate throughout the life of the loan. Many people choose to refinance a fixed rate mortgage so they don’t have to worry about changing interest rates and payments.

If you are ready to explore refinancing, contact a financial institution. The ACFCU real estate team is here to listen to you and advise you on your best options.

* Equal Housing Loan. Membership eligibility conditions apply. Federal insurance by NCUA.

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JLL Capital Markets arranges $ 9 million loan for Camber Real Estate Partners

JLL Capital Markets has arranged a $ 9 million financing for a 77,875 square foot fully leased industrial facility located at 100 Industrial Rd. In the community of Berkeley Heights, northern New Jersey.

JLL worked exclusively for the Borrower, a joint venture between Camber Real Estate Partners and an institutional investor, to place the five-year fixed rate loan with First Bank.

The borrower acquired the vacant property in an off-market transaction earlier this year and is doing extensive renovations to divide the building into two well-appointed units which are both long-term leased. Located on 4.58 acres in the industrial submarket of Route 78/22, Berkeley Heights is a wealthy suburban New York City dormitory community located in Union County. The building is in a small industrial district that has access to northern New Jersey transportation infrastructure, including highways 78 and 287 and US Highway 22.

The JLL Capital Markets Debt Placement team representing the borrower was led by Senior Managing Director Greg Nalbandian and Vice President Michael Lachs.

“Cambre has created significant value by pre-letting the entire building at very attractive rents,” said Nalbandian. “These attributes combined with top notch sponsorship made this a very attractive fundraising opportunity. First Bank did a tremendous job securing this loan, and we were honored to represent Camber on another successful project. “

JLL Capital Markets is a global full service provider of capital solutions for real estate investors and occupiers. The company’s in-depth knowledge of the local market and global investors provides the best solutions for clients, whether it is investment advice, debt placement, equity placement or recapitalization. The company has more than 3,700 capital markets specialists around the world with offices in nearly 50 countries.

To access more business news, visit NJB News Now.

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Under New Management, Fashion Square Sees Stores Close, Risks Sale | Local News

After a request from Midland Loan Services, Fashion Square’s special service, a judge in March approved Krista Freitag’s appointment as a special service. Freitag then hired The Woodmont Company to manage and lease the property.

Neither Freitag nor representatives for The Woodmont Company responded to multiple requests for comment.

In a June comment from Trepp LLC, a New York-based commercial real estate research and data provider, the company noted that Midland “is evaluating the property to determine the right time to put it on the market for sale. “.

According to documents and reports filed with the Albemarle County Circuit Court, since his appointment in March, Freitag has reviewed financial information, contacted a “potential JCP buyer” and finalized “a rent relief program and a recommendation for Sbarro “, among others.

The formal occupation of the property and the activity of the tenants were not listed in the receiver’s reports, citing “the confidential and sensitive nature of the information”.

A number of mall stores closed since late 2018 were owned by companies that have declared bankruptcy, including Sears Holdings, Charlotte Russe, Crazy 8, Payless ShoeSource, Charming Charlie, Destination Maternity and GNC Holdings.

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Guess & Co. Corporation Expands Covid-19 Solutions to

MIAMI, Nov 05, 2020 (GLOBE NEWSWIRE) – As many small businesses continue to struggle with a slower recovery, Guess & Co. Corporation has announced an extension of its Covid-19 solutions to include financing. Guess & Co. Corporation’s Covid-19 financing solutions are ideal for small businesses that generate at least $ 1 million in annual revenue and have been in business for at least 12 months, such as builders, general contractors, sub -treaters, doctor’s offices, dental offices, restaurants, hotels, motels, retailers, manufacturers, salons, transportation services, trucking companies, car dealers, farmers, child care providers, practices lawyers, accounting firms, consulting firms, franchises and many more. Guess & Co. Corporation has established a set of trusted lending partners with the ability to lend over $ 50,000,000 immediately, and as a broker, the company works with these lending partners to immediately obtain financing for its clients. . Loans range from $ 100,000 to $ 2,500,000 for unsecured business financing. The typical loan amount will be the equivalent of 7-10% of a business’s gross annual income. For example, a business generating $ 1,250,000 in annual revenue will generally qualify for an unsecured business loan of $ 125,000. Most loans have terms of 6 to 12 months and require daily or weekly payments. Loans are similar to a business credit card and interest rates can be as high as 6% per month depending on the history of the business. Businesses are licensed even if they have outstanding bank loans. Guess & Co. Corporation has a 99.9% approval rating for its clients. Approvals are generally guaranteed within one business day and loans are funded the day after verification. Customers benefit from a simple, hassle-free process that requires them to submit standard documents such as bank statements and tax returns via email with a two-page request. Unsecured funding can be used for working capital to cover payroll, buy inventory, etc. Unlike the federal government’s Paycheck Protection Program (PPP), the loans provided by the lending partners of Guess & Co. Corporation have no restrictions, the funds can be used for any business purpose.

In addition to unsecured commercial finance, Guess & Co. Corporation offers commercial real estate finance, including refinancing / cashing out owner-occupied commercial properties. Commercial real estate finance loans range from $ 100,000 to $ 40 million. Equipment financing is offered from $ 100,000 to $ 100 million. Accounts receivable funding is available from $ 1 million to $ 10 million. Guess & Co. Corporation also provides specialist financing for high-end diamond dealers and jewelers, ranging from $ 1 million to $ 100 million, which can be provided within days through its lending partners. For clients with art collections, Guess & Co. Corporation will also provide art funding through a trusted lending partner and funding is available up to $ 250 million.

Guess & Co. Corporation provides a “white glove” level service to help clients obtain financing. Senior management oversees a team that works closely with the client to identify the best financing scenario and the client is kept informed. Customers are encouraged to borrow sensibly and responsibly, and the team at Guess & Co. Corporation works with customers to put together a workable repayment plan. Customers are also introduced to other products and services provided by Guess & Co. Corporation which will help them grow their business both in terms of revenue and profitability. “We were tired of reading about businesses that were going bankrupt and we decided to put in place a set of programs to do something and help businesses survive and thrive in these uncertain times,” said Jerry D. Guess, Founder, President and CEO of Guess & Co. Corporation. The company has invested more than $ 250,000 in community outreach efforts to educate businesses on available solutions. More recently, Guess & Co. Corporation has broadcast 60-second radio commercials in select markets across the United States to advertise funding programs available to it through its lending partners. The company has also launched a social media campaign, “No Stimulus, No Problem”. “Our company is trying to let all the businesses know that we are ready to help them, we are really a phone call away and they are a phone call away from having capital when they could really use it. most. Said Michelle Stewart, vice president, president, chief operating officer and chief financial officer of Guess & Co. Corporation. The company’s senior management team also includes Mandy L. Hall, who is Senior Executive Vice President, Chief Executive Officer and Global Managing Director. Ms. Hall is responsible for overseeing client relationships and overseeing the client relations teams who work directly with the company’s clients.

About Guess & Co. Corporation

Guess & Co. Corporation is an emerging global stewardship solutions company with four main business units: energy, healthcare, technology and real estate. The company has more than ten secondary businesses, including commercial loan brokerage, compliance, intelligence, security, commodities, asset management and others. We work in partnership with communities, businesses and governments to improve the well-being of people. Guess & Co. Corporation is a registered contractor with the US government to provide solutions to federal government agencies and members of our company have active top-secret / SCI authorizations. We are based in Miami, Florida with offices in Overland Park, Kansas and Cary, North Carolina. Guess & Co. Corporation was founded in August 2017. The management team of Guess & Co. Corporation has over 50 years of combined experience.

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