Category: kfwtfbyo

04
Sep
2021

Airbus and Boeing trade blows

first_imgTuesday 25 January 2011 9:34 pm More From Our Partners Matt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com Airbus and Boeing trade blows whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Airbus and Boeing traded blows yesterday ahead of a final World Trade Organisation ruling on claims Boeing received subsidies, in a tit-for-tat case brought by the European Union over similar US claims against Airbus. An Airbus spokeswoman said in a statement that the report would confirm Boeing got “massive illegal subsidies” from research grants. A spokesman for Boeing said illegal European subsidies to Airbus which the WTO has already identified in a previous case “dwarf” those in the counter-suit. whatsappcenter_img Share Tags: NULL Show Comments ▼ KCS-content last_img read more

24
Aug
2021

First legal bets placed in Pennsylvania

first_img Subscribe to the iGaming newsletter First legal bets placed in Pennsylvania AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 16th November 2018 | By contenteditor Pennsylvania became the seventh US state to process a legal sports wager yesterday (Thursday) when Penn National Gaming tested out its system with punters at Hollywood Casino at Penn National Race Course.A further test phase will take place from 2pm to midnight today next to the newly renovated Skybox Sports bar at the venue before a full implementation in the coming days. Research by Eilers & Krejcik Gaming estimates $12bn could be wagered annually in Pennsylvania when the market matures – nearly three times more than Nevada.Penn National confirmed that it started processing sports bets at 3pm local time, with the test launch allowing staff to get to grips with the new system and iron out the kinds of teething problems that have been reported with sportsbook launches in some other US states in recent months.“We are extremely appreciative for the tireless effort and support of the Pennsylvania Gaming Control Board,” Hollywood Casino general manager Dan Ihm said. “They moved heaven and earth to get us to this point and we couldn’t be more excited to be Pennsylvania’s first sportsbook.”Hollywood Casino at Penn National Race Course and Parx Casino last month became the first casinos to receive approval from the Pennsylvania Gaming Control Board (PGCB) to launch sports wagering. It is understood that Parx could also go live with its sportsbook before the end of this month.Since then, Harrah’s Philadelphia, Rivers Casino Pittsburgh, SugarHouse Casino and Valley Forge have also applied for sports betting licences. Any casinos that wish to launch sports betting in Pennsylvania have to cough up an initial licence fee of $10m (£7.7m/€8.7m) and will face a 36% tax rate on sports wagers.Pennsylvania follows Delaware, Mississippi, Nevada, New Jersey, New Mexico and West Virginia in offering sports betting following the repeal of PASPA by the US Supreme Court in May.Penn National CEO Timothy Wilmott said that the company was “excited to be the first casino to offer sports wagering in Pennsylvania”.He added: “The enthusiasm around sports betting has been growing since the federal ban was repealed in May, and we look forward to providing our patrons with another great amenity to enjoy at Hollywood Casino at Penn National Race Course.”The PGCB is also currently processing out-of-state applications for online gambling licences in the state.A PGCB spokesperson told iGamingBusiness.com in September that a “co-ordinated launch” was possible before the end of the year, with applicants for the remaining licences set to face the luck of a draw to see if they have been successful.Penn National has previously said it expects the first online bets to be taken in Q1 2019. Regions: US Pennsylvaniacenter_img Topics: Sports betting Tech & innovation Sports betting Email Address Hollywood Casino at Penn National Race Course processed first bet yesterdaylast_img read more

05
Jul
2021

2 penny stocks to buy in June

first_imgSimply click below to discover how you can take advantage of this. Rupert Hargreaves | Sunday, 23rd May, 2021 | More on: MARS NRR Our 6 ‘Best Buys Now’ Shares Rupert Hargreaves owns no share mentioned. The Motley Fool UK has recommended Marstons. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Enter Your Email Address Click here to claim your copy of this special investment report — and we’ll tell you the name of this Top Small-Cap Stock… free of charge! The high-calibre small-cap stock flying under the City’s radarcenter_img Image source: Getty Images. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Adventurous investors like you won’t want to miss out on what could be a truly astonishing opportunity…You see, over the past three years, this AIM-listed company has been quietly powering ahead… rewarding its shareholders with generous share price growth thanks to a carefully orchestrated ‘buy and build’ strategy.And with a first-class management team at the helm, a proven, well-executed business model, plus market-leading positions in high-margin, niche products… our analysts believe there’s still plenty more potential growth in the pipeline.Here’s your chance to discover exactly what has got our Motley Fool UK investment team all hot-under-the-collar about this tiny £350+ million enterprise… inside a specially prepared free investment report.But here’s the really exciting part… right now, we believe many UK investors have quite simply never heard of this company before! 2 penny stocks to buy in June See all posts by Rupert Hargreaves As the UK economy continues to open up, I’ve been looking for penny stocks to add to my portfolio. Here are two companies I’d buy ahead of the next stage of reopening in June. Penny stocks to buyThe first company on my list of penny stocks to buy is hospitality business Marston’s (LSE: MARS). As the economy reopens, consumers are out to spend their lockdown savings. 5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Marston’s is already starting to reap the benefits. In its latest market update, the business reported that pubs allowed to open outside on the 12 April had reported sales of around 80% of pre-Covid levels.At that rate, the company noted, it was on track to break even on an earnings before interest, tax, depreciation and amortisation (EBITDA) basis. In addition, management believes there will be further sales growth as the lockdown continues to ease. Based on these projections, I think Marston’s could be a great addition to my portfolio of penny stocks for June. Assuming the government’s roadmap for reopening isn’t disrupted, the group could be back to normal by the end of August. In my opinion, in this best-case scenario, the stock could be worth more than it is today. That’s why I’d buy the shares. However, if the government has to delay the full reopening, Marston’s may hit the rocks. It has had to take on considerable debt over the past 12 months to survive. With this additional borrowing, it may struggle to pull through another lockdown. That’s the most considerable risk facing the enterprise right now. Property portfolio As penny stocks go, NewRiver REIT (LSE: NRR) is quite risky. The value of its commercial property portfolio has been thwacked over the past year. Book value per share, which can be used as a quick way to identify how much a business is worth after deducting all liabilities from assets, has fallen from 295p in 2018, to 169p. This is a decline of 43%. The value of the property portfolio could fall further if there’s another lockdown. That would cause even more pain for the business, which has been pulling out all the stops to survive over the past year. Still, I’d buy this business for my penny stocks portfolio in June as a recovery play. Green shoots are already appearing in the firm’s property portfolio. At the end of March, retail occupancy was 95.8%.Meanwhile, rent collection in the quarter to the end of March was tracking ahead of the same period last year. The group also ended its fiscal 2021 financial year with £198m of cash and undrawn financing facilities, giving management a level of balance sheet flexibility. As the economy continues to open up, I think rent collection will improve. This, in turn, could have a positive impact on NewRiver’s shares. As confidence returns to the retail sector, demand for the company’s properties may also increase, pushing up rents. These are the key reasons why I’d buy the company for my portfolio of penny stocks today. last_img read more

16
Jun
2021

Fundraising Healthcheck now open to all organisations

first_img The Fundraising Healthcheck, the free, confidential diagnostic tool designed to help charities understand the impact of the recession on their fundraising portfolio, is now open for use.Created by the Institute of Fundraising and THINK Consulting Solutions, the Fundraising Healthcheck was initially available only to members of the Institute of Fundraising.From the beginning of April though it has been made available to other organisations.Lindsay Boswell, CEO of the Institute of Fundraising, and Tony Elischer, MD of THINK Consulting Solutions, told UK Fundraising why the tool was created and how it will help fundraisers and fundraising organisations.www.fundraisinghealthcheck.org Fundraising Healthcheck now open to all organisations AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. Tagged with: Digital Institute of Fundraising Management recession  29 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Howard Lake | 7 April 2009 | Newslast_img read more

15
Jun
2021

What it takes to unite the workers & oppressed

first_imgWORKERS WORLD PARTY CONFERENCEExcerpts from the talk given by Larry Holmes at the 2014 Workers World Party National Conference in New York City.WW photo: Brenda RyanComrades, I want to start by saying a word about the immense Boston struggle.In the relationships between capital and labor at any given time there is a norm. We all know what it has been: givebacks, concessions, two-tier wage levels.From Detroit to Philadelphia, everywhere, the workers have been decimated. But there are exceptions, and the Boston school bus drivers are one. They have somehow managed for almost 40 years to get good contracts. It hasn’t been easy. They have been on strike; their leaders have been fired.In addition this union has a worldwide reputation for internationalism, for what it says about Palestine and imperialist war, and in solidarity with Black and Brown communities fighting racist police terror. There is a reason for this. This union has communists in it. It has many great people and a good piece of Workers World Party in it.We were there at the beginning. We helped organize the union more than 40 years ago, at the time of a struggle to desegregate the Boston schools. The racists were violently trying to stop that. An anniversary is coming up on Dec. 14 of the 1974 March Against Racism. This wonderful school bus union grew out of that struggle.So is it any wonder that Veolia wants to get the party out of there, wants to get radical influence out of there by hook or crook? The workers know this. They are smart and know what is in their interest. They know that not just Steve Kirschbaum is charged. They know it is the union. And if Veolia is able to separate the party from that union, it is highly unlikely the union will remain the same. The workers support and love our comrades, but that is not the fundamental reason. They know their own class interests and are fighting for themselves.The struggle is entering a very intense period. The trial opens Nov. 24. We need to be there with the workers. Veolia has now intensified its hostility with respect to contract negotiations. It is firing workers in the yard and harassing the workers. It is coming to a showdown over the contract, over rehiring the fired workers. And the school bus drivers are getting ready. But they can’t do it alone, comrades.They are here! I see them walking through the door. Stand up. Union! Union! Union!The bus drivers are here to remind us that if they are to prevail, they have to consolidate union support not only in Boston, but everywhere.If a strike happens, it is going to get national attention. They have to consolidate the Black and Brown community, which they already have relationships with. And we have to help them. They are here to thank us, but they are also here to remind us that they need our help. We have to make sure that we don’t let them down, comrades.Significance of FergusonWhy is the Ferguson struggle so important? Many young Black and Brown people are massacred by vicious, racist cops. Those crimes are just as bad as what happened to Michael Brown on Aug. 9. But in Ferguson there was a rebellion that has never ended.There was also a military occupation. There were huge anti-austerity protests this week in Brussels. The state was so afraid they brought out water cannons and tear gas.But in Ferguson they brought out tanks, armored personnel carriers, state-of-the-art military weapons. They were aimed at unarmed protesters, like in Gaza, Iraq or Afghanistan.In some places the repression against Occupy Wall Street was very vicious, but it didn’t come close to this. This is what the capitalist state does when the oppressed rise up.In many ways the labor movement, the progressive movement, let Ferguson down, in my view.They should have embraced this rebellion, come to its support — no holds barred. Shut down cities, occupy whatever they could. There should have been work actions in support of this. Labor did a lot more than it usually does when there are rebellions, and that is good, but it wasn’t decisive. And the progressive movement went about their business pretty much as usual. The climate march was necessary, but you wouldn’t know there was a Black rebellion in the center of the country.You can’t win over the oppressed to the working class unless you come to their defense and show them that you feel what they feel. If the movement and the working class had embraced the Ferguson rebellion, there would be a better working class today.The decision of the grand jury is coming down any time. We have more than 50 locations around the country where there are going to be militant response demonstrations, including right here in metropolitan New York.Can we be the agent for drawing more political and social forces of our huge class into defense of Ferguson? We’ve got to figure it out. Maybe we can do something on the Martin Luther King holiday in January. Right after that is Black History Month. February 21 marks the 50th anniversary of the assassination of Malcolm X, a revolutionary. Maybe these dates will help us raise the level in terms of this struggle in Ferguson.Low-wage workersAbout a year ago I wrote a document on low-wage workers. Two days ago workers pulled the first sit-down strike in a Walmart in Los Angeles. Some were arrested. Things are now heating up. I said the entrance of low-wage workers into the struggle represents millions: there are 4 million fast food workers, 2 million Walmart workers and probably 18 to 20 million in retail, most of them low-wage workers. These are enormous organizing drives. The biggest in history, whatever their problems.But why isn’t labor calling on the progressive movement? We have a Workers Assembly fighting to put a referendum for $15 an hour on the LA ballot; we have the Baltimore Workers Assembly. We are waiting for the union, in this case the Service Employees, to call on the movement. Do they think the workers can do it alone? No matter how brave the McDonald’s or Walmart workers are, in this period of capitalism at a dead end, with reorganization of the working class on a global basis, workers in any specific place or industry need more to win.The fast food workers are planning a strike on Dec. 4 and another, bigger one in the spring. They want to bring McDonald’s to the negotiating table, which would be incredible. If they do that, all the other fast food chains would come along. Millions of workers and unemployed people would come and occupy those stores — if you called on them. There is a vast, untapped human reservoir of working-class and radical support for low-wage workers, but nobody is calling on it. We’ve got to begin to change this.We’ve got to be able to offer our own suggestions on how to massify the struggle, how to bring more social forces into the working class.I was asked to write a document for this conference. The title is “What is the working class and does it retain its revolutionary potential?” It sounds abstract, but it is a deeply political, ideological and strategic question. Either the capitalist ruling class is right, and these changes in the capitalist economy, globalization and technology have further atomized and fragmented the workers — don’t even call them workers; call them associates — until we no longer have the same class interests, or there is something else going on. I smell a rat.There is a deliberate, conscious strategy on the part of the ruling class to convince the working class that it is not one class and that, instead of being in solidarity with each other, they should compete, be fearful of each other, fight and hate each other. That lets capitalism remain on top. The truth of the matter is that the changes in capitalism have not shrunk the working class, but enlarged it. People who formerly thought they were in another class are beginning to realize they are in the working class — even with PhDs and master’s degrees. Young white people who thought they might be privileged, like their parents, are in the working class.The ideas of the bourgeoisie infect even the labor movement. That is why the labor leaders have such narrow, limited ways. We have to fight bourgeois influence in the movement. We have to let everybody know that the working class is low-wage workers, migrant workers. Why wouldn’t you want the millions of migrant workers to be in the union movement? They are the most militant and the most politically advanced, the strongest sector. We want the migrant workers leading it and the militant youth who have no job and may never have a job. Including the youth who rose up in Ferguson! That is our class.Our relationship to them is not based on sentiment or altruism. They are our class sisters and brothers, regardless of their circumstances. The homeless, the prisoners, the most downtrodden and oppressed are part of our class.We have got to get over narrow, stupid, bourgeois ideas, old encrusted ideas that somehow confuse or reverse that truth.The ruling class celebrated the 25th anniversary of the fall of the Berlin Wall. They see it as the beginning of the period that led to the collapse of the Soviet Union.But they are not as cocky as 25 years ago, because their world system is in deep crisis. The world capitalist economy is so bad there is going to be something — whether a bank failing somewhere or some other event — that starts it. Whether it is a war — and you see their mission creep to a wider war in the Middle East. Whether it is a struggle with Ukraine and Russia, or whatever is the catalyst for the next catastrophic economic and financial crisis. It is coming.The collapse of the Soviet Union was the biggest disaster for the working class in history. Our class is still reeling from it. But our conception of world socialist revolution was never exclusively based on the existence of a camp where the working class held power. That is important. The more places the working class holds power, the better. We all agree.But world socialist revolution does not depend on that alone. World socialist revolution is dependent on the working class rising up from the bottom everywhere and anywhere. It can’t be merely a geographical struggle: East vs. West, South vs. North.That paradigm is passing. The economic crisis and changes in the capitalist system are making the world smaller – the distance between New York and Berlin, South Africa, Indonesia, Buenos Aires or Iraq is much smaller. The decisive thing for the revolutionary party is to do what is necessary to forge unity between the workers and oppressed. In order to forge that unity the working-class movement has to militantly, aggressively, consciously seek out ways of coming to the aid of the most oppressed. It is the only way, the only path to real global unity of the workers and the oppressed, and it is the path to socialist revolution.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

15
Jun
2021

Toward a Popular Salvation Front in Spain

first_imgRed Network, a communist, anti-imperialist organization that sees socialism as the only way out of the capitalist crisis, published this first draft of a program aimed, after discussion, at uniting other such organizations in the Spanish state in a common front. The program’s goal is to defend the lives and interests of the working class from the virus and from the assault of the capitalists, a goal we in Workers World share. Translation by John Catalinotto. (redroja.net, April 1)The collapse of the health care system, which nobody denies anymore, has put the demands of the groups in the struggle to defend Public Healthcare on the agenda. These demands include budgeting greater resources, beginning with reversing the brutal cuts of the previous decade; and annulling the privatizations that have tried to make health care a business that, moreover, discriminates between patients according to their social class.We see how public health care is overflowing with patients while privately run hospitals, which receive public funding, look the other way. Meanwhile private insurers, in the midst of the tragedy, are trying to make a killing on people’s anguish.For all these reasons, today it is essential to definitively nationalize private health care, repealing Law 15/97. But this is insufficient in the current health and social emergency. The supply of hospital and protective material must be guaranteed to the maximum by intervening in the business sphere, including in the pharmaceutical industry.On the labor side, this must do away with the painful image of workers forced to do their work without safety provisions. At the same time, social planning for isolation is necessary to stop many people from being abandoned after the already scarce social services have been cut off. And intervention is required in the area of housing, in view of the uncertainty weighing on thousands of families as to how they will ensure payment of their rents and mortgages.But this health emergency has accelerated and aggravated the deep socioeconomic crisis that could be foreseen already. Up to now, more than 1.7 million workers have been affected by government-funded ERTEs [ERTE mechanisms give companies permission to temporarily lay off workers; the bosses pay social security but no wages, and the workers can apply for unemployment insurance]. We are witnessing a veritable avalanche of more than 200,000 ERTE layoffs, the largest being from El Corte Inglés [department stores], Securitas Direct [home alarms], Seat, Burger King, Iberia, Renault … and are awaiting the ERTE of Inditex [textiles, clothing], which will affect another 25,000 workers.It is clear that, given the recession that threatens us and the endemic dependence on tourism, many of these workers will end up losing their jobs for good. In addition, countless companies are not resorting to the ERTE but choosing individual and definitive dismissal.Government protects the banksThe government has approved a series of measures which, although announced as a “social shield,” could be better described as a shield for the banks and large enterprises. The State will guarantee 117 billion euros ($127 billion) so that the banks can administer more loans at their will and with total security.Obviously, the financial groups will decide which companies to lend to. More than likely, financial logic will lead them to give this money to the large corporations with which the banks are intertwined. And, moreover, without any risk: Indeed, when a default occurs, the State will guarantee payment.What will happen to the 150,000 small businesses and the 3 million self-employed who are threatened with permanent closure? For its part, the European Union has approved the purchase of 750 billion euros ($815 billion) in assets by the European Central Bank, and there is no doubt that the part of these assets destined for Spain will be used to buy bonds from these same banks and large corporations.All these measures benefitting big capital anticipate a new bailout. If it is not completed on the same terms as the previous one, it will be because the system itself has less room for maneuver and the squabbling within the EU itself is being exacerbated. It is precisely the dominant countries of the European Union that want to use the crisis as a weapon to conquer entire economic sectors of the weakest countries, as was the case with Greece, among others, a few years ago.We must put everyone on alert that the coronavirus will be used for propaganda purposes, in order to cover up the rottenness and barbarity inherent in a system dominated by parasitic financial capitalism. This system is no longer even capable of stabilizing “its own” real productive economy. Consequently, we must also immunize ourselves as soon as possible against the perverse use of the state of alarm — which imposes confinement — to muzzle us even more and stifle the capacity for redoubled struggle that we will require.We must learn from the accumulated experiences of the systemic crisis of 2007-08, from which we are still suffering the social and labor cuts that were the other side of the first great rescue of big “patriotic” capital.And we must also retain the lessons of the tidal waves of mobilization that began in 2011, which have been largely stamped out on the altar of increasingly impossible reformism and the illusion of electoral politics.In that cycle of massive and widespread mobilizations by sectors of the working class, what was left suspended was the task of merging them into a single torrent that would embrace a common program. This program would not be limited to particular demands, nor to a critique of one or another government — all of which serve big capital — but would aim at raising a challenge for real political power. Today it is time to complete this task.Workers need a common frontTo forge a response to the economic crisis and to reverse the cruel social and labor consequences that the crisis will have, we propose that workers’ organizations and social activism promote a common front dedicated to saving the people and not big capital.We urge the unification of all the sectors in struggle and that they adopt a minimum set of measures. Without representing any particular sector, these measures apply to all: a common political alternative that clearly points to the contest for real power, without which none of the measures proposed by any sector will have any guarantee of being obtained and maintained.1) Expropriate private banks, which are parasites on the rest of society. Through arbitrary credit, these banks suffocate the real productive economy itself. This parasitism is increasingly present in strong international competition, with the bank rescue as a weapon of struggle among foreign powers. As a counterpoint, create a solid public bank that relaunches production.2) Refuse to pay the so-called “public debt,” a tool artificially created by international and national financial capital to keep us indefinitely subject to its extortion. The payment of interest on the debt alone has already amounted to 31.4 billion euros per year, 86 million euros per day. These resources could be used to rescue the people.3) Break with the dictates of the EU, whose chief executives have adopted the “everyone for themselves” approach, even in the face of the drama experienced in the Italian and Spanish states, and consigned us to our status as the backyard of the central powers of that imperialist bloc.4) Intervene in the large enterprises that produce and distribute, preventing the flight of capital that is already taking place and that contributes greatly to millions of workers being left chronically unemployed, and even literally dispossessed of their jobs and left in the streets.Only this way can we achieve what is most necessary:5) Implement the rational and democratic planning of the economy according to the real needs of the population and not at the service of speculation and the profit of the oligarchs. Today, the already observed bankruptcy of sectors such as construction and tourism helps us to rethink our development model.In the spirit of breaking with the systemThis political program can be modified and made more explicit, always in the spirit of breaking with the existing economic (dis)order. In any case, it is necessary to turn these ideas into solid political action. The enemy will put their experience to use — and we must do the same. If in the last period of crisis this was not possible, there is no time to lose now. We call on the people and on trade union, social and political activism. It is time to put aside our differences, our legitimate differences, and get down to work to form a Popular Salvation Front so that it is not the people who pay the costs of this crisis, but the financial and economic oligarchy — those who caused the crisis in the first place.We also salute the networks of popular self-support that have been created and that, not by chance, have emerged where activism has maintained its strength. In order to make this proposal a reality, it will be vital to have grassroots popular power to build popular power from every corner, but with a united program of breaking with the old system. This is the strategy we need so that the popular sectors and their various detachments can confront this avalanche and move on to counterattack.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

12
Jun
2021

Western Asset Mortgage Capital Corporation Announces Second Quarter 2014 Results

first_img Top of the News faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Subscribe Community News Business News EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Western Asset Mortgage Capital Corporation, today reported its results for the second quarter ended June 30, 2014. The Company, which previously declared a $0.67 per share dividend for the quarter, recorded GAAP net income of $67.6 million, or $1.68 per basic and diluted share for the second quarter ended June 30, 2014. Core earnings for the period were $30.0 million, or $0.75 per basic and diluted share1. Core earnings plus drop income for the second quarter was $40.0 million, or $1.00 per basic and diluted share1,2. The Company also reported a net book value of $15.31 per share as of June 30, 20143.SECOND QUARTER 2014• Declared a $0.67 per share cash dividend for the quarter• Recorded GAAP net income of $67.6 million, or $1.68 per basic and diluted share– Net income includes $114.1 million of net unrealized gains on MBS and other securities, $14.3 million of net realized loss on MBS and other securities, and $66.0 million of net loss on derivative instruments and linked transactions• Generated core earnings plus drop income of $40.0 million, or $1.00 per basic and diluted share1,2– Core earnings of $0.75 per share– Drop income of $0.25 per share2• $15.31 per share net book value as of June 30, 20143• Generated an economic return for the quarter of 12.6%4• Total Stockholders’ Equity of $638.9 million as of June 30, 2014• 3.86% weighted average portfolio yield on Agency and Non-Agency MBS and other securities, including IO securities accounted for as derivatives and “linked transactions” under GAAP1• 1.17% weighted average effective cost of financing on Agency and Non-Agency MBS and other securities, including swaps and linked transactions1• 2.69% weighted average net interest spread on Agency and Non-Agency MBS and other securities, including IO securities accounted for as derivatives and swaps1• $4.7 billion investment portfolio fair value as of June 30, 2014, including linked transactions• Constant prepayment rate on its Agency RMBS portfolio of 4.9% for the quarter• 6.5x leverage (including borrowings on linked transactions) as of June 30, 2014– 7.5x leverage when adjusted for net TBA position 1, 5COMMON STOCK OFFERING AND PRIVATE PLACEMENTOn April 9, 2014, the Company closed an offering of 13,000,000 shares of its common stock sold to the public and a concurrent private placement of 650,000 shares of its common stock sold to its external manager Western Asset Management Company. The combined net proceeds from the public offering and the private placement were approximately $200.0 million, after deducting the underwriting discount and estimated offering expenses payable by the Company.On May 2, 2014, underwriters from the April stock offering notified the Company that they had elected to exercise a portion of their overallotment option and purchased an additional 1,000,000 shares of common stock from the Company providing the Company with incremental proceeds of approximately $14.7 million. Proceeds were received on May 7, 2014.SECOND QUARTER 2014 RESULTSFor the second quarter ended June 30, 2014, the Company recorded GAAP net income of $67.6 million, or $1.68 per basic and diluted share. This compares to a net loss of $8.4 million, or $0.32 per basic and diluted share for the first quarter ended March 31, 2014. During the second quarter of 2014, the Company generated core earnings plus drop income of $40.0 million, or $1.00 per basic and diluted share. This compares to core earnings plus drop income of $15.2 million, or $0.56 per basic and diluted share for the first quarter ended March 31, 2014. Core earnings represents a non-GAAP financial measure and is defined as net income (loss) excluding: (i) net realized gain (loss) on investments and derivative contracts; (ii) net unrealized gain (loss) on investments; (iii) loss resulting from mark-to-market adjustments on derivative contracts; (iv) other loss on MBS and other securities; (v) non-cash stock-based compensation expense; and (vi) certain other non-cash charges. Drop income represents a non-GAAP financial measure and is derived from the use of ‘to-be-announced’ forward contract (“TBA”) dollar roll transactions and is defined as the difference between the spot price and the forward settlement price for a comparable security on the trade date.For the quarter ended June 30, 2014, the average amortized cost of MBS and other securities held, including Agency and Non-Agency Interest-Only Strips accounted for as derivatives and linked transactions, was $4.83 billion, as compared to $3.09 billion for the quarter ended March 31, 2014.For the quarter ended June 30, 2014, the Company’s weighted average yield on its portfolio was 3.86%, including Agency and Non-Agency MBS and other securities, interest from Interest-Only securities accounted for as derivatives and linked transactions that occurred during the quarter. The Company’s effective cost of funds on its Agency and Non-Agency MBS and other securities financing (including the cost of interest rate swaps and linked transactions) was 1.17%. The annualized net interest spread on its portfolio was 2.69%, including Agency and Non-Agency MBS and other securities, interest from Interest-Only securities accounted for as derivatives and linked transactions, and taking into account the cost of the interest rate swaps. This compares with a weighted average yield of 3.57%, an effective cost of funds of 1.77%, and an annualized net interest spread of 1.80% for the quarter ended March 31, 2014.The actual constant prepayment rate (“CPR”) for the Company’s Agency RMBS portfolio during the second quarter was 4.9% on an annualized basis, as compared to 3.8% for the first quarter of 2014.COMMENTARY“We delivered a strong performance in the second quarter, which reflects the positive impact of our strategic decision to diversify our portfolio away from an Agency REIT and move toward a more “hybrid” REIT model. We successfully deployed the $215 million of capital that we raised early in the quarter and increased the size of our investment portfolio to approximately $4.7 billion,” said Gavin James, Chief Executive Officer of Western Asset Mortgage Capital Corporation. “During the quarter, we generated strong core earnings and delivered an economic return on book value of 12.6%, which is the highest quarterly economic return since our inception. Our exceptional results reflect the strength of the Western platform and our versatile approach to investing across the broad mortgage spectrum, based on where we believe we can generate attractive risk-adjusted returns.”Anup Agarwal, Chief Investment Officer of Western Asset Mortgage Capital Corporation, commented, “Our portfolio was positioned well for the lower interest rate volatility we saw during the second quarter. We increased our exposure to Non-Agency RMBS and CMBS, and continued to take advantage of the attractiveness of TBA dollar roll transactions. As a result of the continued shift within the portfolio among mortgage sectors, we experienced improved yields. This, combined with our lower hedge adjusted financing costs, resulted in an 89 basis point increase in our weighted average net interest spread over the prior quarter. We believe that there are ample opportunities in the Non-Agency sector to generate attractive returns while further diversifying our portfolio. Along with the current Non-Agency RMBS and Agency and Non Agency CMBS asset classes, where we have already increased our exposure, we currently expect to begin investing in structures that provide exposure to residential mortgage whole loans in the near future.”“We continue to have access to repo financing in excess of our current needs and are comfortable with our leverage, given our near-term outlook for continued low interest rate volatility. We will remain proactive in seeking to capture the relative value opportunities we have across the mortgage sector, as well as the broader fixed income and credit markets,” added Mr. Agarwal.DIVIDENDOn June 19, 2014, the Company declared a regular cash dividend of $0.67 per share for each common share. Since inception in May of 2012, WMC has declared and paid total dividends of $8.79 per share in a combination of cash and stock.PORTFOLIO COMPOSITIONAs of June 30, 2014, the Company owned an aggregate securities portfolio equaling $4.71 billion in market value, comprised of $2.04 billion of 30-year fixed-rate Agency RMBS (residential mortgage-backed securities for which the principal and interest payments are guaranteed by a U.S. Government agency or sponsored entity), $1.13 billion of 20-year fixed-rate Agency RMBS, $713.2 million of Non-Agency RMBS (including $15.2 million of linked transactions), $436.6 million of Agency and Non-Agency CMBS (commercial mortgage-backed securities)(including $25.3 million of linked transactions consisting of Non-U.S. CMBS, the Company’s first non U.S. investment), $192.4 million of Agency MBS interest-only and $113.1 million of Agency MBS inverse interest-only strips, $30.7 million of Non-Agency MBS interest-only and $28.6 million of Non-Agency MBS inverse interest-only strips, and $33.9 million of other securities.The following table sets forth additional information regarding the Company’s portfolio as of June 30, 2014:PORTFOLIO FINANCINGAt June 30, 2014, the Company financed its portfolio with $4.1 billion of borrowings, including $27.5 million of borrowings related to linked transactions, under master repurchase agreements with nineteen (19) of our twenty-three (23) approved counterparties, bearing fixed interest rates with maturities between July 2014 and October 2014.The Company has also entered into approximately $5.4 billion notional amount of pay-fixed interest rate swaps, excluding forward starting swaps of $1.4 billion (approximately 14.9 months forward) that have variable maturities between October 2014 and February 2044, and $2.5 billion notional amount of pay-variable interest rate swaps, excluding forward starting swaps of $110.0 million (approximately 58.3 months forward) that have variable maturities between October 2018 and August 2043. In addition, the Company has entered into approximately $305.0 million notional amount of pay-fixed interest rate swaptions with swap terms that range between 1 and 10 years and have exercise expiration dates that range from October 2014 to June 2016.The following tables set forth additional information regarding the Company’s portfolio financing as of June 30, 2014: Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Make a comment Name (required)  Mail (required) (not be published)  Website  CONFERENCE CALLThe Company will host a conference call with a live webcast today at 12:00 p.m. Eastern Time/9:00 a.m. Pacific Time, to discuss financial results for the second quarter ended June 30, 2014.Individuals interested in participating in the conference call may do so by dialing 866.235.9914 from the United States, or 412.902.4115 from outside the United States and referencing “Western Asset Mortgage Capital Corporation.” Those interested in listening to the conference call live via the Internet may do so by visiting the Investor Relations section of the Company’s website at www.westernassetmcc.com.A telephone replay will be available through August 29, 2014 by dialing (877) 344-7529 from the United States, or (412) 317-0088 from outside the United States, and entering conference ID 10050488. A webcast replay will be available for 90 days.About Western Asset Mortgage Capital CorportationWestern Asset Mortgage Capital Corporation is a mortgage REIT that invests in Agency RMBS, which are residential mortgage-backed securities for which the principal and interest payments are guaranteed by a U.S. Government agency (such as GNMA) or a U.S. Government-sponsored entity (such as FNMA or FHLMC). The Company also invests in residential mortgage-backed securities that are not guaranteed by a U.S. Government agency or sponsored entity as well as commercial mortgage-backed securities or CMBS and other securities. In the future, it may invest in residential and commercial whole-loans and opportunistically invest in other asset-backed securities or ABS. The Company is externally managed and advised by Western Asset Management Company, an investment advisor registered with the SEC and a wholly-owned subsidiary of Legg Mason, Inc. Company News Briefs Western Asset Mortgage Capital Corporation Announces Second Quarter 2014 Results From STAFF REPORTS Published on Thursday, August 7, 2014 | 12:18 pm More Cool Stuff Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena Your email address will not be published. Required fields are marked * 6 recommended0 commentsShareShareTweetSharePin it First Heatwave Expected Next Week Herbeauty7 Most Startling Movie Moments We Didn’t Realize Were InsensitiveHerbeautyHerbeautyHerbeautyA Mental Health Chatbot Which Helps People With DepressionHerbeautyHerbeautyHerbeautyAt 9 Years Old, This Young Girl Dazzled The World Of FashionHerbeautyHerbeautyHerbeauty5 Things To Avoid If You Want To Have Whiter TeethHerbeautyHerbeautyHerbeautyHere Is What Scientists Say Will Happen When You Eat AvocadosHerbeautyHerbeautyHerbeautyInstall These Measures To Keep Your Household Safe From Covid19HerbeautyHerbeauty Community News Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday last_img read more

27
May
2021

Independent Councillor says first council meeting will be a farce

first_img Google+ Twitter Facebook Further drop in people receiving PUP in Donegal Facebook News Pinterest WhatsApp Newly elected Independent Donegal County Councillor Dessie Shiels says the first meeting of the local authority this Friday is a farce.The first 45 items on the agenda is to fill positions on forums, committees and groups as well appoint the Chairperson and Vice-Chairperson of the council.Councillor Sheils says no consideration is given to whether the councillors have any qualification or useful reason to be involved in the various bodies.He has also questioned why 15 members are appointed to the Islands committee while only two are appointed to the Audit committee:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2014/06/dessieraw.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. 75 positive cases of Covid confirmed in North Previous articleDonegal retains its 13 Blue Flags and 6 Green Coast AwardsNext articleArlene Foster confident businesses will locate at Strabane Business Park soon News Highland Independent Councillor says first council meeting will be a farcecenter_img 365 additional cases of Covid-19 in Republic Pinterest Google+ RELATED ARTICLESMORE FROM AUTHOR Main Evening News, Sport and Obituaries Tuesday May 25th Twitter WhatsApp Man arrested on suspicion of drugs and criminal property offences in Derry By News Highland – June 4, 2014 Gardai continue to investigate Kilmacrennan firelast_img read more

25
May
2021

Glencolmcille reassured work on poor phone coverage ‘imminent’

first_img WhatsApp Glencolmcille reassured work on poor phone coverage ‘imminent’ By admin – August 21, 2019 WhatsApp FT Report: Derry City 2 St Pats 2 Google+ AudioHomepage BannerNews The community of Glencolmcille are being reassured that work to address poor phone coverage in the area is imminent. It follows serious concern raised that Community First Responders have missed emergency call outs in Glencolmcille due to a weak signal.While recent fundraising has led to extra defibrillators for the community, it’s thought locally that not having a signal will cost lives.While acknowledging that this is a major problem for the locality, Cllr Niamh Kennedy says that the Council is committed to resolving the issue, and that work is to start in the coming weeks and will only only take two days to complete:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2019/08/niamhphone.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Previous article21 people awaiting in-patient beds at LUHNext articleHigh Court grants injunction to stop Ryanair pilots’ strike admin Pinterest Facebook Google+center_img Facebook News, Sport and Obituaries on Monday May 24th Twitter Pinterest Journey home will be easier – Paul Hegarty Harps come back to win in Waterford RELATED ARTICLESMORE FROM AUTHOR Twitter DL Debate – 24/05/21 Derry draw with Pats: Higgins & Thomson Reaction last_img read more

25
May
2021

Bank Lane renamed in honour of Presbyterian Minister

first_imgAudioHomepage BannerNews Important message for people attending LUH’s INR clinic Pinterest Google+ Twitter Previous articlePeople urged to #LoveDonegal today on social mediaNext articleBeef Plan Movement “confident” following talks News Highland News, Sport and Obituaries on Monday May 24th Twitter Facebook Pinterest Facebook Google+center_img Arranmore progress and potential flagged as population grows WhatsApp The renaming of Bank Lane in Letterkenny to Kinnear Lane has been widely welcomed.Local Councillor Jimmy Kavanagh proposed to Donegal County Council in 2017, at the request of the Letterkenny History Group that the lane be renamed in honour of the late Reverend Dr John Kinnear.Dr Kinnear, born in 1823 in Co Tyrone served as a Presbyterian Minister in Letterkenny and was the first clergyman with a congregation to become a member of Parliament.An MP from 1880 to 1885, Dr Kinnear also spoke at one of the biggest ever tenants gatherings in Ulster when over 10,000 people attended a rally in Market Square, Letterkenny in 1870.Councillor Kavanagh says the erection of the new signage is a fitting tribute………….Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2019/08/kavanaghkinnear1pm.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. RELATED ARTICLESMORE FROM AUTHOR Derry draw with Pats: Higgins & Thomson Reaction Bank Lane renamed in honour of Presbyterian Minister By News Highland – August 14, 2019 FT Report: Derry City 2 St Pats 2 WhatsApp DL Debate – 24/05/21 last_img read more