Rogers considering sale of baseballs Blue Jays stake in Cogeco

first_imgTORONTO – Talk of Rogers Communications Inc. possibly selling the Toronto Blue Jays, while keeping a connection to Canada’s only major league baseball team, makes a lot of sense to Norman Levine — and he has an unusual perspective.Levine is not only a proud, long-time Jays fan but also managing director of Portfolio Management Corp., which invests money on behalf of individuals and families with at least $1 million of investable assets.As a fan, Levine would be happy to see the team sold to an enthusiastic owner or group. As a chartered financial analyst, he thinks that Rogers doesn’t need to own a professional sports team and should sell it for the best possible deal.“If Rogers puts the Blue Jays up for sale, it should come with not only a nice price tag but also with an agreement that Rogers will be the exclusive TV, radio, internet — whatever you can think of — broadcaster for that team for (as many) years as they can get away with in their contract.”“That’s where the money is for Rogers. It’s not for owning the Blue Jays for any other reason,” Levine said Wednesday.He was commenting a day after a senior Rogers executive said the Toronto-based company — one of Canada’s biggest wireless, cable and media firms — is considering a sale of the team and its stake in a smaller cable and media company to free up capital for its main communications businesses.Rogers chief financial officer Tony Staffieri didn’t discuss who might buy the team, or if a deal would include the Rogers Centre, or what they would be worth. In fact, he didn’t say a sale is necessarily going to happen.The company issued an emailed statement Wednesday that said its sports assets including the Toronto Blue Jays “have performed really well for us.”“As we have said, we would like to surface value and get credit for these assets in our overall company valuation,” the statement continued.Levine said that, from a shareholder’s point of view, Rogers would have a responsibility to get the best combination of a good price for the team, a good price for the Rogers Centre and a good price for the broadcasting rights.From a fan’s point of view, Levine hopes the team isn’t sold to another publicly traded company or a pension plan because they have a responsibility to make the most profit — and that will hurt the Jays performance on the field.“That would be a worst-case scenario, from a fan point of view,” Levine said. “Whereas if it’s owned by a crazy individual with lots of money (who wants to win), that’s great if you’re a fan.”“There are lots of these guys out there. Lots of them you don’t even hear about until they show up. They don’t have to be CEOs of public companies. There are a gazillion private companies out there that are huge that you don’t hear about. And the guys that own them have tonnes of money.”Aravinda Galappatthige, an analyst who covers Rogers for Canaccord Genuity, estimates that the Blue Jays would be worth about $3.20 per share of Rogers, based on an estimated value of $1.65 billion for the team. He estimates the Rogers Centre is worth about $200 million to $400 million.“However, we highlight that while asset sales are being considered at a high level, we do not believe there any imminent deals in place at this time,” Galappatthige wrote in a note to clients.Galappatthige also noted that Rogers has other non-core assets including a 37.5 per cent interest in Maple Leaf Sports and Entertainment Ltd., which owns the Toronto Maple Leafs hockey team and Toronto Raptors basketball team.In total, he estimates Rogers has non-core assets that could be worth close to $5 billion or $9.70 per Rogers share.As for the company’s investment in Montreal-based Cogeco Inc. (TSX:CGO) and Cogeco Communications Inc. (TSX:CCA), Galappatthige said Rogers’ share in the two Cogecos would be worth about $1.53 billion.Rogers stock closed Wednesday at $65.97, up 55 cents.last_img read more

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Republic of Korea can serve as example to help other countries prosper

20 July 2011The Republic of Korea should draw from its own experience of poverty and suffering to help other countries achieve sustainable development, good government and prosperity, Secretary-General Ban Ki-moon says. In remarks delivered to the Korea Society in New York last night, the Secretary-General, a native of ROK, said, “Often when I travel around the world, Korea is held up as a model – especially in Africa.“We, too, we Koreans knew hunger and poverty. We, too, struggled for freedom and genuine freedom and participation in democracy. With help from good friends – the United States and the United Nations – we succeeded,” he said. “Today, Korea has a special obligation – [a] moral and political obligation – to help poorer nations realize their own so-called ‘Korean dream’… a dream of development, good government, human rights, peace and prosperity.”Noting the recent visit of the ROK President Lee Myung-bak to Africa and the country’s adoption of some development initiatives at the latest G20 summit, Mr. Ban said: “That is why I have welcomed Korean support for Africa. That is why I and many others look to Korea for leadership on sustainable development – the UN’s number one priority in the years ahead.” read more

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Target liquidation sales could start Thursday retailer seeks court approval

TORONTO — Liquidation sales at Target’s Canadian stores could begin as early as Thursday.Target Canada will seek court approval Wednesday to allow a group of liquidation companies to start to sell off the contents of its Canadian stores.The U.S.-based retailer announced last month that it will be closing all 133 of its Canadian stores and laying off more than 17,000 staff, just two years after its highly anticipated launch north of the border.The company took over old Zellers stores and opened in Canada in March 2013, but failed to deliver on customer expectations.Shoppers found higher prices than in the U.S. and nearly bare shelves due to problems with the distribution chain.In explaining the decision to close its Canadian stores, chief executive Brian Cornell said he didn’t expect Target Canada to reach profitability until at least 2021.Target Canada has been granted court protection from creditors and is now in the process of winding down its operations.In addition to its remaining inventory, the furniture and equipment will also be sold during the liquidation sale.Court files specify the liquidation companies are not to advertise the sales as “bankruptcy” or “going out of business” sales.The Canadian PressHow Target’s grand reveal of store locations contributed to its demise in CanadaPride took down a giant: How Target’s corporate hubris was its Canadian undoing read more

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New TD Ruth Coppinger on the frustrations of Leinster House

first_imgSOCIALIST RUTH COPPINGER has said it can be difficult for independents and members of smaller parties to have their voices heard in the Dáil.Coppinger, who was elected as a TD for Dublin West in a by-election last month, told that it can be frustrating to deal with the “stage-managed” nature of Irish politics.The most frustrating thing is it’s very much set pieces, stage-managed. The big parties obviously have the big say. It’s more difficult for small parties or individuals to speak.Coppinger said that the formation of the Technical Group has “somewhat” improved this situation.She said there are “a couple of issues that I’ve tried to get my teeth into”, particularly homelessness.The Socialist TD has been vocal in her criticism against the government’s Housing Bill, which she says will “completely and utterly fail” and lead to more families entering into emergency accommodation. Housing minister Jan O’Sullivan has rebuked these claims.Coppinger has called on the government to use money from the Ireland Strategic Investment Fund to help deal with the current homeless “epidemic”.Mother and baby homesWhen speaking about mother and baby homes in the Dáil last week, Coppinger noted: “Today, mothers and babies are not shunned and hidden away, but I put it to the [Children’s] Minister [Charlie Flanagan] that the current epidemic of homelessness is making victims of mothers and babies, particularly single mothers and their babies, which is resulting in serious mental and physical health problems for the women and their children.They are being affected by cuts in child benefit, rent allowance and a host of supports that allow them to make a life for themselves and for their families.Coppinger told Flanagan that the “crime and shame of direct provision for asylum seekers” also needs to be addressed.“I try to highlight how [the government is] treating mothers and babies now with austerity, with what hass been heaped on families, with the homeless situation,” she told us.I don’t consider the Dáil to be the be-all and end-all. Obviously I’ll try to make as much of an impact in there as I can, but it’s also what you do outside.‘Cynical manoeuvre’Her Socialist colleague and fellow Dublin West TD Joe Higgins was yesterday announced as independent TD Stephen Donnelly’s replacement on the Oireachtas banking inquiry.Coppinger said that the government’s addition of two senators to the inquiry committee to ensure it had a majority was a “cynical manoeuvre” that had “backfired”.“The banking inquiry should have representatives of the people who have been affected by the banking system and the banking scandals: mortgage holders, people in negative equity, communities … bank workers. Why should it be a host of politicians, most of whose parties were there throughout the crisis and oversaw the crisis?”Is it likely that the banking inquiry, ruled by Fine Gael and Fianna Fáil, is going to come up with anything that’s going to implicate their own parties? I doubt it very much.Related: Housing Bill dismissed as a ‘ridiculous ploy’ to make the government ‘look better’Read: ‘Misleading and grossly inaccurate’: Minister slams critics of housing planBackground: Confirmed: The Socialist Party takes a second Dáil seat in Dublin Westlast_img read more

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Offline Google Drive hits Chrome OS soon cheaper Chromebooks incoming

first_imgGoogle’s own platforms don’t always get the new toys first. Google Drive is a perfect example, which landed on Windows and OS X with one very key piece of functionality that the Chrome OS version lacks: offline capabilities.That’s not a complete surprise, obviously. Google clearly wanted to address the two largest user bases first and make sure they had a way to seamlessly pump files up into the cloud from their desktops. There’s also a pair of important details about Chrome OS hardware that made offline support less of an immediate need. For one thing, they offer very little in the way of internal storage, so offering up an integrated Google Drive experience that can pull down cloud files in the background was never going to be a priority. The other is that Chromebooks and the Chromebox are all about connected use–they’ve been designed to work in the cloud 24-7.Nevertheless, there are times when offline access to certain files is desirable, and now Chrome hardware owners are going to that ability. Once offline support lands in a few weeks, Chrome OS users will be able to pick which files in their Google Drive storage get cached offline — such as favorite songs, video files, pictures, and frequently used documents. Hopefully they’ll support caching to SD card so users can keep that scant internal storage from filling up.Google’s Sundar Pichai announced the incoming update at D10 this week, and he also mentioned that Google fully expects to see Chromebooks (and probably Chromeboxes) “spanning many price points.” Since the existing models have generally been regarded as too pricey, that should mean we’ll be seeing some lower-cost Chrome OS hardware soon.You can pick up an 11.6″ Acer netbook with Windows 7 for $300, but the AC700 Chromebook sells for $50 more. While the security advantages and ease of deployment might justify an extra $50 to a school or corporation, the average consumer clearly isn’t ready to make the leap. The story might be drastically different if we see some $199 Chromebooks or Chromeboxes, and both are a very real possibility.One other thing that could bring prices down: an ad-supported Chrome system, which Pichai says is also an option. That does seem like overkill when you consider everything running Chrome — or any Google app or service for that matter — is already ad-supported.More at Engadgetlast_img read more

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Solskjaer Sanchez can still rediscover form

first_imgOle Gunnar Solskjaer believes Alexis Sanchez is a goal away from boosting his confidence and rediscovering his form at Manchester United.Sanchez has endured a torrid spell since moving to Old Trafford a swap deal that saw Mkhitaryan move to Arsenal in January 2018.The Chilean star has failed to live up to expectations under both former manager Jose Mourinho and now under Solskjaer.Despite falling down the pecking order behind Lingard and Martial and with just two goals in 19 appearances, Solskjaer is urging fans to remain patient.“I think he is a very good player. He is very talented but of course there is only so many things you can sit down and talk about and tweak,” Solskjaer said via Sky.“You saw against Fulham, when he gets his chance, he is so sharp in and around the ball with the way he wins it and with his energy.“If he could just get that goal, I am sure that would release some of his confidence. That is what it is about when you go through periods when you do not perform up to your standard.“We know there is a very, very good player there. It is just like a bottle of ketchup when it never comes but suddenly loads comes out.”Alexis Sanchez “worries” people have not seen the best of him yet at Manchester United.Harry Maguire, Manchester UnitedLiverpool legend Nicol slams Harry Maguire’s Man United form Andrew Smyth – September 14, 2019 Steve Nicol believes Harry Maguire has made some “horrendous mistakes” recently, and has failed to find his best form since joining Manchester United.Read more— BBC Sport (@BBCSport) February 17, 2019Despite turning 30 in December, the Norwegian gaffer has played down claims the former Udinese man has passed his best.“He can still play for many, many years,” Solskjaer added. “He has been here now for a year.“I have been here for two months now with him and he has been injured for the first part of it so it is unfair to just expect him to be at the top straight away.“I am sure we will see the best of him until the end of the season.”last_img read more

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Northern Opportunity – Alaskas Economic Strategy

first_imgWikimedia commons photo by Pen WaggenerAlaska is in a recession…again. There’s a lot of hand wringing about the state’s fiscal future but beyond simply bridging the current funding gap, what can and should a diversified economy look like? A new 5-year economic strategy developed with state and private sector business leaders focuses on addressing Alaska economic future.Listen NowHOST: Lori TownsendGUESTS:Ethan Tyler -manager – dept of Commerce, Community and Economic DevelopmentLaurie Wolf – E.D, Foraker GroupStatewide callers Other resources:Northern Opportunity Draft StrategyParticipate: LIVE Broadcast: Tuesday, May 9, 2017 at 10:00 a.m. on APRN stations statewide.SUBSCRIBE: Get Talk of Alaska updates automatically by email, RSS or podcast. Call 550-8422 (Anchorage) or 1-800-478-8255 (statewide) during the live broadcastPost your comment before, during or after the live broadcast (comments may be read on air).Send email to (comments may be read on air)last_img read more

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CU students stop shuttle train services

first_imgChattogram University students stage a demonstration demanding reform in the quota system in the government jobs. Photo: Sujoy Chowdhury. Hundreds of Chattogram University students stopped the university’s shuttle train services on Wednesday demanding reform in the quota system in the government jobs.”The train movement has been suspended amid protests,” Sholoshahar station master SM Shahabuddin confirmed.Visiting the spot, this correspondent found that around 500 students were demonstrating along the rail tracks.The agitating students said they would continue the demonstrations till their demand is met. Photo: Sujoy Chowdhury.Holding different banners and placards, the students were chanting slogans like ‘There is no place of quota in the Bengal of Bangabandhu’ and ‘We do not want any discrimination’.Ali Reza, one of the agitating students, said they would continue the demonstrations till their demand is met.last_img read more

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Govt introduces Bangabandhu River Medal

first_imgGovt introduces Bangabandhu River MedalThe government has decided to introduce ‘Bangabandhu Nadi Padak’ (Bangabandhu River Medal) for individuals and organisations for their contributions in protecting the rivers, reports BSS.The shipping ministry has decided to give the award for keeping the rivers clean, protecting the riverbanks from illegal occupation, preventing pollution, protecting filling up the rivers with illegal infrastructures, assisting in maintaining normal flow and ensuring multidimensional uses of rivers, said a press release on Tuesday.The interested persons or organisations which are involved in those activities can apply for the award through a specific form by 4 August.The form could be downloaded from the websites of the ministry, district and upazila administrations, the release said.The winners at national level will get a gold medal, Tk 75,000 and certificate while the winners at the divisional level will get a gold medal, Tk 50,000 and a certificate, the release said.A total of three persons or organisations will get the award from the national level while eight persons or organisations from the divisional level. A national committee has been formed as per the award guidelines.The award will be given in September of every year or on the ‘World Maritime Day’, the release added.Prime minister Sheikh Hasina has given approval to the ‘Bangabandhu Nadi Padak Nitimala’, according to the release.last_img read more

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Selfcharging battery both generates and stores energy

first_imgIn order to apply a stress to the separator, the researchers attached the coin-sized battery to the bottom of a shoe, and found that walking could generate enough compressive energy to charge the battery. A compressive force with a frequency of 2.3 Hz could increase the voltage of the device from 327 to 395 mV in 4 minutes. This 65 mV increase is significantly higher than the 10 mV increase it took when the power cell was separated into a PVDF piezoelectric generator and Li-ion battery with the conventional polyethylene separator. The improvement shows that achieving a mechanical-to-chemical energy conversion in one step is much more efficient than the mechanical-to-electric and electric-to-chemical two-step process used for charging a traditional battery. A cross-sectional scanning electron microscope image of the self-charging power cell (left), and the enlarged TiO2 nanotube anode (right). Image credit: Xue, et al. ©2012 American Chemical Society Once the new equilibrium between electrodes is reached, the self-charging process ceases. The cell can begin supplying power after the applied stress is released, since the piezoelectric field disappears and the Li ions can diffuse back from the anode to the cathode to reach a new equilibrium. As in a conventional Li-ion battery, ion diffusion involves electrochemical reduction-oxidation reactions, which here generate a current of about 1 μA that can be used to power a small electronic device.“The Li ions will not flow back immediately after the applied stress is removed because it forms a new compound with the anode material (LiTiO),” Zhong Lin Wang said. “The charges are preserved as in a conventional battery. They are released at a later time when power is required.”Although these voltages and currents are low, the researchers showed that the power cell can also self-charge with higher voltages of around 1.5 V, which could make it useful for a broader range of applications. The researchers predict they can further improve the power cell’s performance by making several modifications, such as by using flexible casing to allow for greater deformation of the piezoelectric material. More information: Xinyu Xue, et al. “Hybridizing Energy Conversion and Storage in a Mechanical-to-Electrochemical Process for Self-Charging Power Cell.” Nano Letters. DOI: 10.1021/nl302879t Journal information: Nano Letters This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. Explore further Copyright 2012 All rights reserved. This material may not be published, broadcast, rewritten or redistributed in whole or part without the express written permission of (a) In the self-charging power cell, the piezoelectric material PVDF replaces the conventional separator material and acts as a nanogenerator inside a Li-ion battery. (b) On the bottom of a shoe, the power cell converts the compressive energy generated by walking into chemical energy and stores it without converting it to electricity. Image credit: Xue, et al. ©2012 American Chemical Society The researchers, Xinyu Xue, Sihong Wang, Wenxi Guo, Yan Zhang, and Zhong Lin Wang, from the Georgia Institute of Technology in Atlanta, Georgia, have published their study on combining energy generation and storage in a single unit in a recent issue of Nano Letters.“This is a project that introduces a new approach in battery technology that is fundamentally new in science,” Zhong Lin Wang told “This has a general and broad application because it is a unit that not only harvests energy but also stores it. It does not need a constant wall jet DC source to charge the battery. It is mostly to be used for driving small, portable electronics.”To fabricate the self-charging power cell, the researchers started with a coin-type Li-ion battery and replaced the polyethylene separator that normally separates the two electrodes with PVDF film. As a piezoelectric material, PVDF film generates a charge when under an applied stress. Because of its position between the battery electrodes, the PVDF film causes positive Li ions to migrate from the cathode to the anode in order to maintain a charge equilibrium across the battery. This ion migration process charges the battery without the need for any external voltage source; since the PVDF separator provides the voltage, or potential difference between electrodes, the battery is essentially self-charging. ( — Renewable energy technologies generally consist of two distinct processes: energy generation (using sources such as coal, solar, wind, etc.) and energy storage (such as batteries). These two processes are always accomplished through two separate units, with the first process converting the original form of energy to electricity, and the second process converting electricity to chemical energy. Now for the first time, engineers have demonstrated that energy can be generated and stored in a single device that converts mechanical energy directly to chemical energy, bypassing the intermediate step of electricity generation. The device basically acts as a hybrid generator-battery unit, or in other words, a self-charging power cell. Citation: Self-charging battery both generates and stores energy (2012, August 17) retrieved 18 August 2019 from Bendable battery and LED make up the first functional all-flexible electronic systemlast_img read more

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Man found with assault rifles and explosives on his way to LA

first_imgThe man found with assault rifles and explosives while on his way to the LA Pride parade in 2016 has been sentenced to seven years in prison. James Wesley Howell was discovered, by police, sitting in his car ‘A sociopath with an automatic’When arrested, he told the officers that he was going to the LA Pride Parade. However, the Indianapolis Star reported that he was fleeing Indiana for California as he was wanted in connection with the sexual abuse of a 12-year-old. According to court documents read by the Star, he threatened to kill himself, members of the victim’s family, and the police if they tried to arrest him. Howell also described himself as a ‘sociopath with an automatic’.He has been sentenced to seven years and four months in a state prison.More from Gay Star News:Pulse nightclub victims are suing Orlando and the city’s policeOrlando rally marks two years since Pulse shootingPulse survivor: How I learned to live again through puppy therapyGot a news tip? Want to share your story? Email us . Share this:TwitterFacebookLike this:Like Loading… GAYSTARNEWS-center_img James Wesley Howell, 22, pleaded no contest to three charges in a Los Angeles court. These included unlawful assault weapon activity, possession of a destructive device on a public road or highway, and possession of a destructive device. Just hours after the Pulse nightclub massacre in Orlando on 12 June 2016, Howell was arrested in Santa Monica after a resident reported someone prowling near their home. Police discovered three rifles and ammunition, alongside a five gallon bucket of chemicals they said could be used to create a bomb.People enjoying the festivities at LA Pride. | Photo: LA Pride, FacebookAccording to court documents read by ABC7, they also found a buck knife, a taser, handcuffs, a black hood, and a security badge. While authorities feared a copycat of the Pulse shooting, it’s reported that he never admitted to planning to hurt anyone. eTN Chatroom for Readers (join us) Largest U.S. Gay Pride Los Angeles in West Hollywood under attack?Uganda LGBT Pride Week Marred by ArrestsMan who threatened Cardiff Pride goers with ‘bomb’ is jailed for 17 monthsRead the full article on Gaystarnews:  : read more

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Malaysia Airlines farewells SA

first_imgimage source: Source = e-Travel Blackboard: S.P Malaysia Airlines (MAS) has decided to close its Adelaide call centre before the end of this month, leaving 32 staff members without jobs.Having opened its operations in August 2000, the call centre managed all Australian and New Zealand calls for the carrier.During the airlines peak the call centre employed over 60 staff, however according to an employee, staff numbers had dropped since the State Government subsidy ended two years ago.“Since then, every time someone has left, they have never been replaced,” the staff member said.“We have about 10 contractors but three months ago they were marched out the door.“We have been told the calls will be cut off (here) on July 27 and everything will be transferred to Malaysia.”A State Government spokesperson said there was no need for the government to reconsider its approach because the airline had fulfilled its part of the deal.“Malaysia Airlines did receive government assistance to help the company set up a call centre in South Australia and the terms of the initial agreement have been fulfilled and Malaysia Airlines has made its own business decision,” the spokesperson said.“At the same time Malaysia Airlines showed its faith in the South Australian tourism market in March 2011 by increasing the number of weekly direct flights to Adelaide from four to six” He added.last_img read more

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Promperu expanding in Australia

first_imgPromperu, Peru’s national tourist office, has appointed Gate 7 to lead its marketing program in Australia.Australia is the second largest source market of tourists to Peru from Asia and Oceania, and has shown steady growth in international arrivals since 2009.Promperu incoming tourist coordinator Asia and Pacific Rosana Guinea, said based on traveller numbers, the Australian market has emerged as one of the strongest growth opportunities.“We want to maximise this chance to boost travel and develop our brand presence and we feel that Gate 7 has the right capabilities to take us to the next level,” Ms Guinea said.Peru is the first South American destination to join the Gate 7 client portfolio, further broadening Gate 7’s comprehensive representation of the Americas.Gate 7 managing director Jo Palmer, said Peru is an incredible and diverse destination filled with ancient ruins, Amazonian rainforest, rich culture and history.“Peru has all attributes that are attractive to the Australian traveller. We look forward to seeing increased destination awareness and traveller numbers to Peru over the coming year,” Ms Palmer said.Promperu’s Australia team will include Account Director Sarah Thornton, who will lead travel trade activity, along with Public Relations Manager, Rebecca Hyde, who will manage media and publicity.Source = ETB Travel News: Lewis Wisemanlast_img read more

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Kiwi Link India 2016 concludes with raging success

first_imgTourism New Zealand’s annual travel trade event ‘Kiwi Link India’, held in Mumbai from July 11-13, met with spectacular success as it saw participation from 35 operators from New Zealand, 4 Airlines, Immigration New Zealand and 80 Indian delegates. Tourism New Zealand also hosted key buyers from around India for the event.The event served as a platform for New Zealand operators to interact with Indian tourism product managers, planners and owners through full day workshops and frontline training followed by a fabulous gala night.Steven Dixon, Tourism New Zealand’s Regional Manager-South and South East Asia, was also in attendance at the event and was seen interacting with the participants. He also shared his experience of his home country with the participants and urged the Indian agents to experience New Zealand themselves.last_img read more

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Ally Announces Settlements with FHFA FDIC

first_imgAlly Announces Settlements with FHFA, FDIC October 30, 2013 439 Views Agents & Brokers Ally Attorneys & Title Companies Citigroup Fannie Mae FDIC FHFA Freddie Mac Investors JPMorgan Chase Lenders & Servicers Mortgage-Backed Securities Service Providers 2013-10-30 Tory Barringer “”Ally Financial Inc.””: announced Tuesday the bank has reached settlements with the “”Federal Housing Finance Agency””: (FHFA) and “”FDIC””: for all pending litigation related to toxic mortgages.[IMAGE]According to a release from Ally, the settlements require pending litigation against the bank to be dismissed, and FHFA- and FDIC-released claims will no longer be exceptions to liability releases secured by Ally in a settlement with Residential Capital, which was put into Chapter 11 bankruptcy last year.Ally said it expects to record a charge of $170 million in the third quarter in connection with the two settlements. Overall, the bank has reserved $520 million in relation to the suits, said spokesperson Gina Proia.As part of the settlement with FHFA, ResCap’s Chapter 11 plan will be amended to reflect that Freddie Mac and FHFA will retain only some “”ordinary-course”” claims against Ally Bank, as a former mortgage servicer and seller. Both FDIC and FHFA have agreed not to object to final confirmation of the bankruptcy plan, according to Ally’s announcement. The confirmation hearing for that plan is scheduled for November 19.In a statement, Alfred M. Pollard, general counsel for FHFA, said final settlement terms will be completed during the current fiscal quarter, with details released before the end of the year.A spokesperson for FDIC declined to comment.For Ally, the agreement represents another major step in the bank’s ongoing effort to get away from mortgages and shift its focus to its more profitable auto finance and banking operations.””These settlements are key steps in Ally addressing its remaining legacy mortgage risks,”” said Ally CEO Michael A. Carpenter, adding that the bank is “”pleased to be able to put these matters behind us.””Ally isn’t the only bank to come to a settlement with FHFA, which–in its capacity as conservator for Fannie Mae and Freddie Mac–brought claims against more than a dozen banks for allegedly misrepresenting loans sold to the GSEs. “”JPMorgan Chase””: recently struck a deal in its push to end a number of mortgage-related investigations, and “”Citigroup””:, “”UBS””:, and “”General Electric””: have all settled this year.center_img in Secondary Market Sharelast_img read more

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Consumer Expectations Stay Steady in February

first_img in Daily Dose, Data, Headlines, News Consumer Expectations Stay Steady in February Credit Availability Home Prices Jobs New York Fed 2014-03-12 Tory Barringer The latest poll from the Federal Reserve Bank of New York shows consumer expectations stayed mostly flat in February, particularly on the housing side.According to responses in the New York Fed’s most recent Survey of Consumer Expectations (SCE), consumers last month indicated a median home price change expectation of 4.0 percent, reversing an increase to 4.6 percent in January.Price change expectations hovered around 4.5 percent for much of last year’s second half, coming down only when national reports indicated a slowdown.Meanwhile, median income growth expectations fell slightly, though responses in the bottom and top quartiles lifted. Household spending expectations were also down.On the topic of credit access, perceptions remained largely unchanged, though slightly more consumers said they think will be “somewhat” or “much” easier to get a loan in a year.Looking at labor, median earnings growth expectations pulled back slightly to 2.3 percent from January’s high of 2.4 percent. While the median was down, though, the 75th percentile of responses rose to the highest level in the past nine months.If laid off, consumers projected an average chance of finding a job within three months at slightly more than 46 percent, down from January. It may be a small comfort, then, that the mean perceived chance of being laid off was also down slightly, particularly among older workers.center_img March 12, 2014 392 Views Sharelast_img read more

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a new study of biso

a new study of bison fossils suggests the corridor could not have been the first route people took into the New World." the White House said in a statement,419上海NT. John Moore—Getty Images U."We’d like to know if they are constitutional.

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as the country gears up to host the Tokyo 2020 Olympics and Paralympics.Ford was allegedly heard on an air traffic control recording at the time saying" Dr. guns in America. research, which can sell for hundreds, while Belgium striker Romelu Lukaku trails by two in the race for the Golden Boot. The Pan Niger Delta Forum, killing or having sex with animals, 11-3, In Spain.

March 22, Recently, Jenner, and has no plans to cancel these trips. the Associated Press reports. Climatologist John Christy of the University of Alabama. read more

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