Financial Affairs – Radical Philosophy Sat, 11 Sep 2021 08:11:00 +0000 en-US hourly 1 Financial Affairs – Radical Philosophy 32 32 225,000 couples whose marriages have been postponed due to the pandemic owe $ 3.7 billion in loans | national Wed, 07 Apr 2021 23:17:09 +0000

(FOX NEWS) – Weddings are already a huge financial burden on couples and families, but the coronavirus pandemic has added to the frustration of couples planning to get married this year.

Hundreds of thousands of couples are repaying loans for weddings that haven’t even taken place yet, according to a new report.

Last week, online loan platform Declared loan that 225,000 couples who have postponed their marriage collectively repay $ 3.7 billion in loans they have taken out to finance these celebrations.

That’s an average of $ 16,500 per couple.

“This past year has been devastating for many couples,” Loanry founder Ethan Taub said in the report. “Especially for the percentage of loan repayments for weddings that did not take place.”

“However, we can take a positive assessment of this situation. Perhaps this has highlighted that an exuberant marriage is not always the best option, ”Taub added. “The occasion will be memorable no matter how much you spend on it.”

For his report, Loanry used data that shows approximately how many weddings take place each year, how many weddings have been postponed this year, how many personal loans are taken out to pay for weddings, and the average cost of a wedding.

The platform reported that an average of 2 million weddings take place each year in the United States, with the majority of those weddings taking place between March and October.

According to data from The Knot published in May, 93% of couples in the United States have decided to postpone their wedding celebrations.

Of the 20 million personal loans taken out in the United States last year, 1.5% were specifically intended to help couples pay for weddings, Loanry reported.

The lending platform previously found that couples take an average of $ 16,500 in loans for their weddings, which is just under half the average cost of a $ 33,900 wedding, according to data from February. of The knot.

“You should take financing a wedding using a loan very seriously, and we don’t recommend it,” Taub said. “In fact, finding ways to cut the costs of your wedding expenses is a much more effective alternative. This way, you can avoid unnecessary debt while still enjoying your big day.

Copyright 2020 WDRB Media and Fox Media. All rights reserved.

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Texts, voice mail link Rep. Matt Gaetz, Former Seminole County Collector Joel Greenberg – WFTV Wed, 07 Apr 2021 23:17:07 +0000

SEMINOLE COUNTY, Florida – Recently released texts and voicemail recording provide insight into the relationship between North Florida Congressman Matt Gaetz and former Seminole County tax collector Joel Greenberg.

Federal investigators are currently examining the two men in separate cases.

Since the start of last year, Gaetz has been under federal investigation for possibly having sex with a 17-year-old girl and paying her to cross state borders. Gaetz denies these accusations.

READ: Former Seminole County tax collector Joel Greenberg faces new charges related to pandemic loans

Greenberg is already facing charges of child sex trafficking, stalking and identity theft, as well as new charges related to the pandemic loans from the Small Business Administration he received after resigning from his office.

Greenberg and Gaetz were close friends and reportedly visited the Seminole County Tax Collector’s office in Lake Mary together several times after hours before Greenberg resigned according to recently published text messages.

Report: Florida Rep Matt Gaetz investigated possible sexual relationship with a minor

State Representative Anna Eskamani shared a strange voicemail message Greenberg and Gaetz left on her phone on July 4, 2019 on Friday.

“My dear Anna, this is your favorite tax collector,” Greenberg said into voicemail. “I’m up with your favorite congressman, Mr. Gaetz. “

Eskamani said the most telling thing about voicemail was Greenberg’s close relationship with Gaetz.

READ: Body camera footage shows incident that brought former Seminole County tax collector back to jail

“They were very close to each other and were vacationing together and traveling together,” Eskamani said. “It was very revealing to realize that he was trying to get closer to me and it’s something that I’m really glad I did my best to keep that distance.”

Eskamani said the call was unexpected and she never called Greenberg back.

“It was out of the blue, but it was this behavior of two men acting like college kids that is all too common in politics and so you sort of accept it as the norm, but realize that something is going on. much deeper, which is why its important to share our stories, ”she said.

READ: Former Seminole County tax collector has been re-arrested for violating federal duty; bail revoked by federal judge

Watch the video above to hear voicemail.

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Gaming companies line up for pandemic relief loans Wed, 07 Apr 2021 23:17:05 +0000

Developers take advantage of US program that will cancel loans to retain staff, deadline to apply is August 8

While some sectors of the video game industry have seen their businesses improve with the ongoing COVID-19 pandemic, others are not so fortunate.

As part of its response to COVID-19, the United States launched the Paycheck Protection Program (PPP) to encourage employers to keep staff on the payroll, and a A review of data released by the program identified more than 75 game companies that combined for a minimum of $ 30 million in loans.

Under the terms of the program, the loans carry an interest rate of 1% and can be canceled if the borrowing companies spend at least 60% of the money on the payroll. There are no fees or guarantees required.

There is still time for developers to take advantage of the program, as the deadline to apply for PPP is August 8. More information is available at the US Small Business Administration website.

As of June 30, nearly 4.9 million PPP loans have been approved for a total of over $ 521 billion loaned. Loans of $ 150,000 or less accounted for 86.5% of loans approved and 27.2% of money loaned.

A list of the gaming industry companies we’ve identified in PPP data (minus distributors, retailers, and arcade operators) and the dollar range of their loans follow below. At least one of the companies below, Star Theory Games, has closed since he received his loan.

$ 2 million to $ 5 million

$ 1 million to $ 2 million

  • Blind squirrel entertainment
  • Boss Fight Entertainment
  • Firewalk Studios (probably monsters)
  • Halon entertainment
  • Interpid Studios
  • Iron galaxy studios
  • Just Games Interactive Entertainment (Kung Fu Factory)
  • Manticore games
  • Schell games
  • Interactive Smart Bomb (WildWorks)
  • Super Gaming League
  • Interactive Tripwire

$ 350,000 – $ 1 million

  • Allied Sports International
  • Artix Entertainment
  • Cauldron Studios (probably monsters)
  • Counter-play games
  • Demiurge workshops
  • E-line Ventures (Gamestar Mechanic)
  • Esports Arena Las Vegas
  • HoldCo Esports
  • Filament sets
  • Final strike games
  • Free range games
  • Entry games
  • Heavy iron studios
  • Hidden Path Entertainment
  • Limited run games
  • Maximum family games (maximum games)
  • Monster games
  • Entertainment elsewhere
  • Petroglyph games
  • Phosphorus games
  • Probably monsters
  • Prophecy games
  • Red games
  • Robot entertainment
  • Snail Games USA
  • Squanch games
  • Standing stone games
  • Supergiant games
  • Twisted pixel games
  • Uber Entertainment (Star Theory Games)
  • Valkyrie Entertainment

$ 150,000 – $ 350,000

  • 1047 games
  • Interactive Entertainment Academy
  • Addictive games
  • Location of Aksys games
  • Disruptive games
  • DM Esports
  • Esport arena
  • Esports one
  • e-United Esports
  • Fun-gi games
  • Games for change
  • Hidden Variable Studios
  • Entertainment Intelligence
  • IThrive Games Foundation
  • Lost boys interactive
  • Mitosis games
  • Mohawk games
  • P1 Esports
  • Phaser Lock Interactive
  • Pro Esports Gaming
  • Red lentil sets
  • Rotating games
  • Rogue Games
  • Secret society games
  • Six foot sets
  • Soul-related studios
  • Stray Kite Studios
  • Surge Esports
  • Interactive Push
  • Tonk Tonk Games
  • Wichita Esports
  • Wolfjaw studios
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Friends Forever – Kevin Cassar Wed, 07 Apr 2021 23:17:02 +0000

“Don’t worry, I didn’t do anything behind Joseph Muscat’s back. It was Keith Schembri’s sworn testimony to the Caruana Galizia survey.

Not once but three times, Schembri insisted that whatever he did, Muscat knew about it.

“Have you spoken to Joseph Muscat about your friendship with Yorgen Fenech,” he was asked.

Schembri could have simply answered “Yes, I did”. Instead, his response revealed a lot more. “Muscat knew everything. I didn’t hide anything from him.

Schembri’s calculated revelation is an intimidating message to Muscat. It is also a message to the nation: I was not alone. Don’t blame me, Muscat was the boss.

Schembri was determined to get his point across.

It was requested by the commission of inquiry if he knew that cabinet ministers claimed he had betrayed Muscat.

Again another message for Joseph: “I am still friends with Joseph Muscat” until now. He insisted: “I have never done anything without informing the Prime Minister”.

Schembri was not an uncontrollable maverick. He was just following the roadmap – Joseph’s roadmap.

Schembri’s message rings loud and clear. Those like Robert Abela who claimed at that chaotic cabinet meeting in November 2019 when Schembri resigned as chief of staff that “Keith Schembri screwed you up” were wrong. Schembri was categorical: Muscat “knew” everything, had planned everything.

Schembri’s testimony at the inquest had a clear purpose: to deliver a message to Muscat: “You must continue to protect me because if I go down, you will too; I know too much about you.

To prove that he was ready to yell at Muscat if necessary, he revealed that he informed Muscat who was the ultimate beneficial owner of 17 Black.

Muscat had repeatedly denied knowing who owned 17 Blacks.

What Schembri was really telling us was that Muscat had lied.

What he was saying to Muscat was: be careful, I’ll speak if I have to.

Muscat got the message.

Schembri was arrested and charged with money laundering, creating documents containing false information, using false names, using illegal means, details or untruths to mislead, making profits at the expense of others, to join forces with others in Malta and abroad to commit a crime punishable by imprisonment, bribe others, make false statements to public authorities, give false testimony in court, present false documents, falsify public documents and knowingly using false documents.

Yet as Muscat was pursued by the media for commenting on the dramatic developments surrounding his former chief of staff, he posted a shy facebook post. He did not even dare to pronounce Schembri’s name.

“That’s all I have to say,” Muscat commented.

All gently tiptoe around the chef, desperately avoiding disturbing him in any way-Kévin Cassar

“A number of people, including Malta timetables, are accused of a case of alleged corruption in the private sector that occurred under the administration of the PN.

Muscat shuddered in terror at the threatening Schembri.

Muscat’s grip on the party is demonstrated by the blind repetition of the lies of his false message by the party apparatus.

It was just a case of corruption in the private sector. (There have been many cases and they have occurred deep within his government, one involving his Golden Passport program.)

It all happened under a PN administration. (Corruption, forgery, lies and lies continued until Schembri’s resignation in 2019 and beyond).

Schembri knows that if he keeps control of Muscat, he controls the party.

Chris Fearne, Deputy Prime Minister, testified before the same inquiry that Muscat refused to discuss Schembri’s sacking, even after serious revelations about him.

“He’s my trusted person and it’s up to me, not the cabinet,” Muscat reportedly told Fearne.

Schembri’s position was “not to be discussed”.

On May 22, 2016, after the Panama Papers were revealed, Schembri refused to answer journalists’ questions. He said he had no intention of resigning. He simply ignored the Panama Papers.

Instead, he launched a brutal attack on those who exposed his betrayal. He accused the Times to “build a plot” against him.

In typical cruelty, he claimed he had given a loan of 1.5 million euros to Progress Press.

“The Times knows the identity of this client well, ”he blackmailed. (Allied Group later clarified that it did not have any loans of any kind with its suppliers.)

Schembri slashed the PN for “fomenting instability by attacking the country’s institutions”. However, in the last Facebook post before his imprisonment, he attacked the institutions, the investigating judge, the conclusions of the investigation and legal experts.

“All people of goodwill expect a measured and tempered forum for democratic debate, not cap and dagger machinations and conspiracy theories,” he falsely concluded.

No one is more adept at cloak-and-dagger machinations than Keith “il-Kasco”. And it is this skill that gives him the assurance that soon enough he will be free.

“How fucked up” was Muscat’s first thought as Daphne Caruana Galizia was exterminated. As Schembri tightens that screw, Muscat has lost its arrogance.

She is a tormented soul, living in fear that an angry Schembri will knock over the fuse.

It’s no surprise that in the face of such overwhelming evidence (or evidence, as Labor loyalists prefer to call it) against Schembri, there is complete silence – from Labor, Muscat and Abela.

Not a single sentence of regret, apology or contrition.

No denunciation or declaration.

All gently tiptoed around the leader, desperately avoiding disturbing him in any way. Muscat is afraid to name it. Labor is the scapegoat for the Times. And from Abela, a pathetic and nervous response: “I can only answer for what I have done.”

Indeed, he should, during the years of cowardly tolerate Schembri’s perfidy.

The files on the prime minister, ministers, parliamentary secretaries and others that Schembri offered to share with Pierre Portelli are now useful.

These are Schembri’s levers of control.

Their content will start to leak unless Schembri gets what he wants.

Schembri’s testimony resonates deafeningly in Muscat’s ears, day and night:

“Don’t worry, I didn’t do anything behind his back.”

We were in it together, friends forever.

We will not separate – whether free or incarcerated – in Baku or Kordin.

Kevin Cassar is a professor of surgery and a former PN candidate.

Independent journalism costs money. Support Times of Malta for the price of a coffee.

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Long-distance broadband finish line | Gila County Wed, 07 Apr 2021 23:16:59 +0000

Homero Vela of Gila County, Deputy County Director, has worked for the past 18 months with partners on a broadband strategic plan across Gila County. Project partners include Kimley-Horn, EntryPoint Networks and BPG Designs.

The group gathered data, including possible costs. Vela and various partners provided the information to the Gila County Supervisory Board in a working session on March 30, which included a two-hour presentation and a 44-slide PowerPoint program.

Vela told the board that it could take up to five years to build a reliable and cost-effective broadband system. Once in place, this is an infrastructure upgrade of at least 50 years.

The county hopes the project will increase redundancy, speed, reliability and lower costs. The aim is to create a network open to all Internet service providers, available nationwide and allowing users to subscribe or unsubscribe.

The vision of the plan: to create a county-wide broadband district; BB District installs broadband infrastructure and makes it available at low cost to Internet Service Providers (ISPs); requires homeowners to pay fiber installation costs – $ 4,000 (estimate) as a lump sum payment or on a 20 year plan; the BB District operates and maintains the network via a monthly maintenance fee – $ 20 / month (estimate); a third party manages software that enables online, real-time selection of ISPs.

To provide county-wide broadband service, Vela said they need to address three things: the first mile, the middle, and the last mile.

For the first mile, Vela said there had been discussions about the county building its own “first mile” to Phoenix, but the cost was prohibitive at $ 4.9 million, and because the project crosses federal lands, it would take a long time to do so. all the necessary education – and money.

The best solution is to rent two “dark” lines in the fiber networks already in place from APS and SRP. Vela said the cost would be around $ 6,800 for each line. The problem with that option would force the county to pay for lines from Phoenix connecting to major utility fiber network centers, he said.

The problem with working with Lumen, CenturyLink, and Sparklight is that they are both dead ends in Payson, failing to provide critical redundancy or, in Lumen’s case, reliability.

The goal is to make broadband service accessible and affordable for everyone in the county. On average, residential customers pay $ 89 per month for Internet costs and commercial users pay $ 141.

If the county leases lines to APS and SRP (it would have to work with both companies because SRP is in the south and APS serves the north), Vela said a diverse backbone fiber route connecting the leased lines should be built.

For the middle mile, Vela said the plan currently links paths with fire stations and government buildings across Gila County. It would use the main fiber optic distribution centers within each identified location.

Currently, the main locations identified are: Payson – Sheriff’s Office, 108 W. Main St .; Globe – Emergency Management Office, 5515 S. Apache Ave .; and Tonto Basin – Sheriff’s Office, 28449 N. Hwy. 188. In addition, hubs would be located at the 21 fire stations in Gila County.

The cost split for building the middle mile to the county government and fire stations would range from $ 383,604 in Tonto Basin to $ 6 million in East Payson.

The proposed design for the last mile: connect the service areas of the fiber optic network to the regional areas of Gila County; design costs are based on a half mile radius of the fire stations.

Installation of nodes and pedestals – fiber routes from fiber distribution hubs to nodes and fiber routes from nodes to bases.

Vela said the nodes can serve up to 200 homes or businesses and the plinths can serve up to six homes or businesses.

The estimated costs for building the last mile, from node to pedestal, would be $ 330,515 if the construction was underground, or $ 1,653 for the customer. If the construction was aerial, the total cost would be $ 97,875 or $ 489 per subscriber. Vela said the cost of subscribers will decrease as the number of subscribers increases.

The strategic plan also explores the financing mechanisms for the multi-million dollar cost of the broadband system being discussed.

• A cooperative – A business owned and operated by the people who use its products and services and benefit from what the business offers. The county would support a group of community and business leaders to create a co-op that would provide broadband service to areas of the county.

• A public-private partnership – The county would seek and establish a partnership with a private company to support the expansion of broadband, increase the resilience of the existing network and reduce the cost of broadband services.

• Improvement District – A district / special tax area, usually created to meet a need and to enable the delivery of services in an area that might otherwise be prevented from receiving those services. Homeowners pay for improvements based on assessed future benefits – either by paying up front or by financing the costs. The financed costs are covered by a deposit. The county would assess property taxes until the bonds are paid off.

Vela said that one of the problems with creating a Broadband / Telecommunications Improvement District is that there are currently no identified services that could be covered by an identification and that would require a change in state law.

It requires landowners to petition the county for the formation of the district and area of ​​the district determined by the community concerned.

Another source of funding is a variety of different federal grants and loans to create or improve broadband service. Several were created in response to the COVID-19 crisis, but Vela said there was only one that could apply to the county – Americans unserved from the US Department of Commerce, he has $ 300 million and does not require correspondence from a successful county in a request for funds. The Community Connect grant, with $ 100,000 to $ 3 million available, is another possibility, requiring a 15% cash match; there is also a broadband loan and loan guarantee program, offering between $ 100,000 and $ 10 million and requiring 10% equity.

Additionally, President Biden has just come up with a massive infrastructure program, which includes money for broadband needs.

Implementation strategies

1. Determine the priority and the best method to add resilience in the first mile

• Priority 1 – Work with APS and ISPs to determine the effectiveness of the operator’s hotel in Payson to add a first mile connection to Phoenix via APS leased fiber.

• Priority 2 – Work with SRP to complete a redundant path through Globe to the Internet Point of Presence in Phoenix and continue to analyze the government facilities loop for the Globe region.

2. Survey communities on the interest and commitment to build and pay for a fiber optic network.

• County and interested communities / ISPs are working to develop out of the box network designs and costs.

• Use BPG cost models to develop conceptual costs – determine the feasibility of costs for the community.

• Total cost from point of presence in Phoenix to homes / businesses – first, middle and last mile.

• Cost based on cost sharing of fiber lines leased from Phoenix. Prepare the grant submission to design / cost a ready-to-go project.

3. County and interested communities / ISPs are working on grant funding for the intermediate mile using the fire district concept to extend the fiber optic network to the communities.

• Sponsorship legislation to allow broadband improvement districts.

• Work in partnership with ISPs.

• Support other complementary projects throughout the region.

• Strengthen connection to Phoenix – SRP and APS connectivity.

• Work on legislation for the last mile.

• Pursue grant opportunities for the intermediate mile.

• Build a public safety backbone – Connect fire stations and county facilities.

• Incremental path to full county connectivity.

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Real Estate Stocks to Buy – Expert Nilesh Jain Sees Significant Rise in Godrej Properties; talks about Sobha stock price as it hits 52-week high Wed, 07 Apr 2021 23:16:56 +0000 understands that your privacy is important to you and we are committed to being transparent about the technologies we use. This Cookie Policy explains how and why cookies and other similar technologies may be stored on and accessed on your device when you use or visit websites that link to this policy (collectively, “the Sites “). This cookie policy should be read in conjunction with our privacy policy.

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Rs330m approved for aircraft maintenance Wed, 07 Apr 2021 23:16:54 +0000

ISLAMABAD: While giving the green light for the dismissal of 25 percent of the workforce or around 3,500 through the Voluntary Separation Plan (VSS), the cabinet’s Economic Coordination Committee (ECC) on Wednesday approved a 457 billion rupee restructuring plan for the loss of cash at Pakistan International Airlines (PIA).

The meeting approved Rs330 million for the Ministry of Defense for aircraft maintenance. This PIA restructuring plan will be implemented after obtaining the approval of the Federal Cabinet. The ECC ordered the authorities concerned to further refine the restructuring plan and reconcile the figures before presenting it to the cabinet.

The PIA has asked the government for 13 billion rupees for the implementation of the VSS to lay off about 25% of a total workforce of 14,000, indicating that around 3,500 employees will be made redundant as part of the restructuring plan .

When contacted, the Prime Minister’s adviser on institutional reforms, Dr Ishrat Hussain, said PIA’s restructuring plan would convert the total loan amount of Rs 457 billion into equity, as accounting adjustments would be carried out in stages to clean up PIA’s balance sheet. He said that PIA’s balance sheet is negative and therefore requires a restructuring plan on an immediate basis.

He said there would be no cash injections, but loans and debts would be converted to equity on a phased basis and PIA would be restructured. He said there were many other government institutions where loans were converted to equity, so the same would be done with PIA to run the national carrier efficiently.

The ECC, which held its meeting under the chairmanship of Finance and Revenue Minister Hammad Azhar, was informed on Wednesday through a summary submitted by the Civil Aviation Authority (CAA) that the losses PIA totals reached Rs 457 billion as of 30-09-2020 including GoP- secured loans of Rs201.8 billion, GoP loans Rs55.6 billion, balance sheet loans PIA Rs53 billion and mark-up on loans Rs16 billion, so in total loans and mark-up peaked at Rs326.4 billion.

PIA’s balance sheet further revealed that debts to PSO amounted to 16.4 billion rupees, 86.7 billion CAA rupees, unpaid tax debts of 14.7 billion rupees, so in total debts. to various government institutions amounted to 117.8 billion rupees. In total, PIA losses amounted to Rs457 billion. Now the ECC has approved the GoP guaranteed loan of Rs 201.8 billion to be converted into equity, as this outstanding amount will be repaid in accordance with the amortization schedule for fiscal year 2020-21 to 2026-27. .

Outstanding GoP loans of Rs 55.6 billion will be settled as book entry and PIA’s balance sheet loans of Rs 52.9 billion will be repaid as an amortization schedule. Debts to government institutions in the amount of Rs 117.8 billion will be settled subject to an agreement between CAA, PSO and FBR to waive becoming debts. The VSS amount of Rs12.9 billion has already been approved by the government.

The ECC was further informed that PIA’s assets stood at Rs 147.5 billion while its liabilities soared to Rs 457 billion, demonstrating the financial health of the national carrier heading for complete disaster. PIA’s short-term assets stood at Rs53.2 billion. The assets retained in the form of total tangible fixed assets were estimated at Rs 82.6 billion and the total non-current assets of PIA amounted to Rs 88.9 billion. Other assets including shops and spare parts to the tune of Rs 2.4 billion, trade debts Rs 14.8 billion, advances Rs 1.6 billion, trade deposits Rs 2.5 billion, short term receivables Rs 8.8 billion, cash and bank balance Rs 8.6 billion and VSS cash payment Rs12.9 billion.

According to a statement released by the Ministry of Finance after the ECC, the Aviation Division submitted a summary to the ECC regarding the restructuring plan of Pakistan International Airlines Corporation Ltd (PIACL). The PM adviser on institutional reforms and austerity made a detailed presentation on human resources and operational restructuring of PIACL. He drew attention to the various restructuring options and described measures to minimize losses and transform PIACL into a financially viable entity. This included restructuring human resources through VSS, hiring aviation experts, modernizing the fleet, streamlining routes, product development and revenue improvement measures.

After detailed consultation, the ECC recommended that PIACL’s restructuring plan be submitted to the cabinet at a later date, after reconciliation of tax payable figures, with an instruction to cap future debt that PIACL could incur against its improved balance sheet. , once the restructuring plan has been implemented, the declaration concludes.

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Brothers and firefighters on leave save elderly man who fell in icy pond Wed, 07 Apr 2021 23:16:51 +0000

MONROE COUNTY, MI – An 81-year-old man from Monroe who fell through the ice of a frozen pond on Sunday afternoon was rescued by a firefighter on leave who spotted him passing through the area and called on his brothers for help with the rescue.

Dundee Township Firefighter Paul Motylinski was driving east on Custer Road near Baldwin Road in Raisinville Township when he saw a man in distress up to his head and shoulders in the frozen water from a pond on the south side of the road, according to the Monroe County Sheriff’s Office.

Motylinski immediately called 911, then called his brothers who were at his mother’s house a short distance away, police said.

His brothers Patrick, Philip and Benjamin, who is also a Dundee firefighter, quickly arrived at the scene and retrieved a small boat near the area that two of the brothers had used to get out on the water to save the man, a indicated the police.

Once the man was on the boat, the other two brothers used a rope to bring the boat ashore as additional rescue teams arrived at the scene, police said.

The man was taken to ProMedica Monroe Regional Hospital where he was listed in stable condition and is expected to make a full recovery, police said.

“The heroic actions of the rescuers are credited with ensuring a positive outcome to a life threatening situation,” said Monroe County Sheriff Troy Goodnough.

It is not known what the man was doing on the pond. The incident is still under investigation.

Anyone with information about the incident is urged to contact the Monroe County Sheriff’s Office at 734-240-7717.

The Monroe Community Ambulance and LMR Fire Department responded to the scene.

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Supervisors open new discussions on affordable housing initiatives Wed, 07 Apr 2021 23:16:48 +0000

Supervisors in Loudoun got their first glimpse of a long-awaited strategic plan to tackle the high cost of housing in the county on Tuesday evening.

The Strategic plan on unmet housing needs was called for in the 2019 General Plan, the first rewrite of the county’s comprehensive plan in nearly 20 years. The general plan recognizes and calls for a solution to the problem of the cost of housing in Loudoun. But despite years spent on this plan, it gave no detailed action to address this issue, but instead set in motion work on the separate plan of unmet housing need. This work began in September 2019.

The draft plan first highlights the need to provide housing for a range of incomes in Loudoun. These include factors ranging from the importance of good housing to the health and well-being of children and families and its importance for the economic stability of workers and families, to the relief that locally available housing can provide. bring for traffic and long journeys.

It also highlights the growth and changes in the county. According to the draft plan, from 2000 to 2015, Loudoun created more than 67,000 new jobs, a growth of nearly 77%, and young working families are expected to be a key part of Loudoun’s growth over the next 25 years, through jobs and schools and amenities.

And a significant number of Loudoun residents work in lower paying sectors, while at the same time houses in Loudoun County tend to be larger: 48.3% of all dwellings have four or more bedrooms.

In 2019, according to the plan, 35,000 households in Loudoun are overburdened with costs, spending more than 30% of their income on housing. And most of them are low-income households, who feel this pain the most – they may then have to choose between housing and other necessities.

Both the General Plan and the Unmet Housing Needs Plan predict that most of the county’s future growth will occur in the New Urban Policy Area, which centers around future Metrorail stops. But this area is also already widely developed, he notes. And the plan recognizes that even small units in this area, without rent controls or government investment, will be too expensive for many people.

Given the scale of the problem, the plan offers a wide variety of goals to tackle the problem.

One is for the county government to take a leadership role in coordinating and collaborating among organizations such as nonprofits, social service agencies, the private sector, and affordable housing developers.

Another might see the county scrambling to find land to build affordable housing, including using public land for housing, buying and holding land in a land bank for use, and creating or operating. partnering with a community land trust, which would hold land and lease it to homebuyers representing the area’s median income.

The county should also seek funding sources for this work. New sources have already been found, such as the Belmont Ridge Affordable Housing Trust of 1992, which was established to help income-qualifying home buyers with a second mortgage, a loan to cover down payments, for homes purchased. in the development of Belmont Ridge at a certain price point. These properties have risen in value so much that no one who can buy a home there meets the income requirements, leaving $ 750,000 essentially unusable, locked in the fund.

The county could also look to other sources of state and federal funding.

Another goal would be to see the county put in place incentives to build affordable housing and increase access to that housing. And the county could change its policies, for example by pledging not to lose affordable housing.

Supervisors should then present the draft plan to a public hearing.

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]]> 0 The quality of banks’ assets remains controllable despite a lower increase in NPAs: ICRA Wed, 07 Apr 2021 23:16:46 +0000

Despite a decline in gross and net non-performing assets reported by banks, the quality of their assets remains controllable, ICRA Ratings said. Even including the pro forma GNPA of Rs 1.3 lakh crore (1.1% of gross advances) and the NNPA of Rs 1 lakh crore (1% of net advances), the GNPA and NNPA of banks stood at 8 , 3% and 2.7%. as at December 31, 2020 compared to 8.6% and 3% respectively as at March 31, 2020.

However, this decline was caused by loan cancellations of Rs 1.1 lakh crore (1 percent of advances) during 9M FY21. In addition, on the basis of restructuring guidelines given by various banks, the overall volume of restructured advances is estimated at 1.3 to 1.5 percent of advances, which is much lower than initial estimates by ICRA.

“While the asset quality and restructuring figures are encouraging, they do not reflect the underlying tensions over banks’ asset quality,” said Anil Gupta, head of the financial sector ratings sector at the Bank. ‘ICRA. “The level of loans in the overdue categories increased after the lifting of the moratorium and the impact on the quality of assets will be spread over fiscal years 21 and 22, as various interventions and relief measures have prevented a significant one-off hit on bank profitability and capital. “

Despite the impact of the Covid-19 pandemic on borrowers’ debt service capacity, the new gross slippages for banks were well below Rs 1.8 crore lakh (2.7% of advances on an annualized basis ) during 9M FY2021 compared to Rs 3.6 crore lakh (4.1 percent) in FY 20. This was motivated by various relief measures such as the moratorium on loan repayments, the status quo on asset classification and extended liquidity to borrowers with secured emergency line of credit.

As the impact of these interventions wears off, pressures on asset quality are likely to resurface. ICRA expects GNPA (excluding depreciation) to decrease from 9.6 to 9.7% by March 31, 2021 and from 9.9 to 10.2% by March 31, 2022, against 8.6% as of March 31, 2020 (ANI)

(This story was not edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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