Nunavut government facing heat over housing corp red ink

first_imgAPTN National NewsNunavut legislators are demanding a public inquiry into the territory’s housing corporation.MLA’s are calling for an inquiry to get to the bottom of the housing corporation, which has found itself $100 million in the red.The Nunavut government, however, is resisting the call.APTN National News reporter Kent Driscoll has more on this escalating political battle that could topple the premier.last_img

Homeless Inuk man trying to leave Ottawa streets behind

first_imgAPTN National NewsFor the past few days APTN’s Annette Francis has been meeting with a homeless Inuk man in Ottawa.Danny Toolooktook speaks about his long struggle on the street and the lifestyle he’s trying to leave behind.last_img

Top UN envoy rebuffs accusations of partiality in Afghan polls

8 October 2009Rejecting “unacceptable” media accusations ranging from partiality in Afghanistan’s presidential election process to fraud concealment, the top United Nations envoy to the South Asian nation today reiterated his resolve to do all he can to ensure that a final outcome to the polls is determined. “My silence is now being exploited, to a point where these allegations are impeding the ongoing election process,” Kai Eide, the Secretary-General’s Special Representative, said in a statement.“I have been motivated by my determination to make every effort to bring the election process to a conclusion,” he added.The audit of suspicious ballot boxes being carried out by the Electoral Complaints Commission (ECC) and Independent Election Commission (IEC), in the presence of monitors and candidates’ representatives, is nearing an end.“We need to allow both these bodies, which were created under the laws of this country, to conclude their investigations, identify fraud, and deliver a credible result in the next few days,” Mr. Eide, who also heads the UN Assistance Mission in Afghanistan (UNAMA), said.The mission reported yesterday that just over 100 of the 358 suspicious ballot boxes remain to be examined by the auditing process, with the remaining boxes slated to be inspected today.The Special Representative also underscored in today’s statement that “the accusations that the United Nations has covered up or that I asked for fraud to be covered up are patently false,” adding that he plans to deal with these allegations “at the appropriate time.”The world body, he said, is mandated by the Security Council to support the election process but not to interfere in it. “This has been, and remains, the basis of all my efforts.”Yesterday, UN officials stressed that the envoy has only ever sided with electoral institutions in the country’s recent presidential ballot, and never with any of the candidates.In recent days, former Deputy Special Representative Peter Galbraith has accused Mr. Eide of favouring incumbent Afghan President Hamid Karzai in the run-up to and after the country’s 20 August election by allowing voting irregularities to occur.“What Kai Eide did, what he was supposed to do and what he did very faithfully, is side with the institutions,” a Director of the Department of Peacekeeping Operations (DPKO), Wolfgang Weisbrod-Weber, told reporters yesterday in New York.“He was always keen and he still is keen to let the institutions work out the process,” said Mr. Weisbrod-Weber, who runs the Asia and Middle East Division of DPKO.In the preparations for the election and in the aftermath, Mr. Eide has been dedicated to strengthening the ECC and IEC – especially regarding the rules and regulations governing the ballot – to make it as credible as possible, said Mr. Weisbrod-Weber. Assistant-Secretary-General for Peacekeeping Operations Edmond Mulet said yesterday that Mr. Galbraith made “all sorts of assertions that were not true and that are completely out of bounds with our mandate in UNAMA regarding the election.”Mr. Mulet added that Mr. Galbraith wanted to close 1,500 of the 6,900 polling stations in volatile regions, a measure that would disenfranchise a large number of potential voters. The Government decided to close down 500 of the stations. He also proposed to annul the elections and set up a transitional government, said Mr. Mulet. “The fact that he was proposing this unconstitutional change and establishing a de facto government in Kabul was one of the elements that convinced us that he was not the right person to be in UNAMA at this point.”Secretary-General Ban Ki-moon recalled Mr. Galbraith from Afghanistan at the end of September, terminating his appointment with UNAMA. read more

UN finds some women in Sri Lanka forced into sex to pay

“I have learned of cases of borrowers who tried to sell their kidneys to repay the loans. Some leave their villages, suffer domestic violence as a punishment for the “contract breach,” or have to work much harder and more hours to earn sufficient money to repay the debts. Suicides committed by borrowers have been associated to this abusive microcredit dynamic,” he said. As of today, World Bank, Asian Development Bank, Japan, Korea, India and China’s project loans alone account for a total USD 19.3 billion or 48 percent of the total loans taken by the State. Therefore, he says he advised international financial partners to establish more robust frameworks to assess the human rights implications of the projects, covering both substantive and procedural rights. (Colombo Gazette) He noted that because these lenders do not follow any particular guideline to assess the credit risks of these loans, combined with usurious terms, a very high number of women in the country default on their debts and get trapped in an exploitative financial system.Meanwhile, Juan Pablo Bohoslavsky also said that there were concerns there was no human right impact assessment of the major infrastructure projects carried out in Sri Lanka.Bohoslavsky noted that after the end of war in 2009, large-scale infrastructure projects have flourished over the country. The United Nations has found that some women in Sri Lanka are pressured by debt collectors to exchange sexual favours for installments.Speaking to reporters in Colombo today following the end of an official visit, the UN Independent Expert on foreign debt and human rights, Juan Pablo Bohoslavsky said that women are at times exposed to psychological and physical violence by these collectors. However, he says the number, frequency and seriousness of the lenders’ abuses he has have found in the country call for an urgent State action.“I learned that while the universe of borrowers is broad, women in poor and war affected areas are specially targeted by microfinance financial institutions, which charge their loans with up to 220 per cent interest rate and apply compound interest,” he said. During his visit, he says, a number of concerns were expressed pertaining to whether and how the positive slipovers of these -and other- projects are capitalized by the country to boost inclusive development and address inequalities as well as to prevent their adverse consequences for human rights.He said that all international lenders and donors he met in Colombo expressed concerns for the environmental and human rights implications of the projects they finance.“However, none of them have in place a human rights impact assessment framework. Some mentioned “social” and “gender” impact evaluations conducted before taking the final decision on the projects but the legal standards against which the projects are assessed were not clear, and the result of these evaluations are not publicly available,” he said. Pablo Bohoslavsky said that microcredit has actually helped lift many people out of poverty by enabling borrowers their livelihoods. read more

In London Annan discusses regional hotspots with Prime Minister top UK officials

Mr. Annan, who flew to London earlier this week following a tour of the Middle East, discussed the situation in that region during detailed talks with Prime Minister Tony Blair, according to a United Nations spokesman. The two leaders also touched on Iraq, the Balkans, the proposed global AIDS fund, economic assistance to Africa, and progress in Sierra Leone.”Following that meeting, the office of the Secretary of State for Foreign Affairs, Jack Straw, issued a statement supporting the Secretary-General’s bid for a second term as UN Secretary-General,” said spokesman Manoel de Almeida e Silva. “The Secretary-General received the Prime Minister’s personal warm endorsement today,” he added.The Secretary-General later held talks with the Secretary-General of the Commonwealth, Donald McKinnon, who briefed Mr. Annan on Commonwealth activities in Fiji and land reform in Zimbabwe. They also touched on the situation in West Africa, including the proposed special court for Sierra Leone, as well as the upcoming World Conference on Racism and UN efforts to combat AIDS.Mr. Annan later attended a working lunch with Clare Short, the Secretary for International Development. “Their wide-ranging discussions included issues in Africa, peacekeeping training and rapid reaction, the architecture of the proposed Global Fund for AIDS, and humanitarian situations as well as security for humanitarian workers, among other topics,” Mr. de Almeida e Silva said.During a subsequent meeting with Geoffrey Hoon, the Secretary of State for Defence, Mr. Annan raised “the issue of the training of African troops for peacekeeping in Africa by the United Kingdom and other advanced military countries,” the spokesman said. Discussions also covered UN peace operations as well as the situations Sierra Leone, Bosnia and Herzegovina, and Kosovo. read more

Loonie down commodities slip traders look to Bank of Canada rate announcement

AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email TORONTO – The Canadian dollar closed slightly lower Monday as traders look ahead to the Bank of Canada’s next scheduled interest rate announcement on Wednesday.Crude oil at a two-month low also helped push the loonie down 0.06 of a cent to 97.3 cents US.No one expects Canada’s central bank to change its key rate from one per cent because of persistently weak economic conditions, but it could make subtle changes to its statement about its interest rate intentions.The tepid pace of the economy was highlighted Friday when data showed fourth quarter growth came in at an annualized rate of 0.6 per cent, with growth actually contracting during December.“Although Friday’s Q4 GDP release came in line with expectations… it was also below the Bank of Canada’s forecast from the January Monetary Policy Report,” said Scotia Capital currency strategist Eric Theoret.“As such, there is the risk of a further moderation in the BoC’s hawkish bias.”At its last meeting in late January, the bank lowered its economic estimates.That was enough to push the loonie below parity with the greenback, where it has stayed ever since, falling to an eight-month low. And economists don’t expect it to rise above parity any time soon.Disappointing Chinese data helped commodity prices remain weak after losing ground on Friday.Expansion in China’s services sector slowed last month to its lowest level since September. The non-manufacturing Purchasing Managers’ Index fell to 54.5 in February from 56.2 in January.Buying sentiment was also depressed Monday by a move by the Chinese government to cool surging housing prices. The government said it will raise required minimum down payments in areas where prices are deemed to be rising too fast and crack down on efforts to evade limits on how many properties each buyer can acquire.Any move to tighten China’s economy is usually taken as a negative because the world’s second biggest economy has played a huge role in helping the overall global economy recover from the 2008 financial collapse and subsequent recession.The April crude contract on the New York Mercantile Exchange fell 56 cents to US$90.12 a barrel, its lowest close since Dec. 24, 2012.May copper was unchanged at US$3.50 a pound while April bullion inched up a dime to US$1,572.40 an ounce.There is plenty of major economic data coming down this week that would weigh on the Canadian dollar.On Friday, Statistics Canada releases the February jobs report.Economists anticipate job creation for February to come in at 8,000 after a plunge of 22,000 positions during January, with the jobless rate edging up 0.1 of a point to 7.1 per cent.The U.S. government’s employment report for February also comes out Friday. It is expected that the economy cranked out 155,000 jobs, roughly the same amount as January. by Malcolm Morrison, The Canadian Press Posted Mar 4, 2013 8:30 am MDT Loonie down: commodities slip, traders look to Bank of Canada rate announcement read more

A giant nude statue in California is stirring controversy

In this photo taken Wednesday Oct. 19, 2016, a woman poses beneath a 55-foot nude statue in San Leandro, Calif. The statue of a naked woman is stirring controversy and a lot of conversation. City officials and the sculptor of the steel nude, which was unveiled this week across from San Leandro’s main commuter train stop, say they want to draw attention to “feminine energy.” Critics say the 13,000-pound towering nude is not appropriate public art. (AP Photo/Jocelyn Gecker) by Jocelyn Gecker, The Associated Press Posted Oct 21, 2016 2:33 am MDT Last Updated Oct 21, 2016 at 1:51 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email A giant nude statue in California is stirring controversy SAN LEANDRO, Calif. – There have long been complaints about the lack of women in the tech industry. Now there’s a towering female figure, in a tech park across the bay from San Francisco, although not quite what some people had in mind.A 55-foot tall statue of a nude woman unveiled this week in the working-class community of San Leandro is stirring controversy and a lot of conversation.The statue — roughly three times as tall as Michelangelo’s David — is made of steel mesh in the form of a graceful dancer, with an arched back and arms stretched overhead. At the base of the statue is a message in 10 languages that says: “What would the world be like if women were safe?”The debate is not over the statue’s artistic merit or its message of female empowerment, which is aimed at the general public, not the tech industry. It centres on whether the 13,000-pound nude is appropriate in public.“If she’s a ballerina, she should have some clothes on,” said Tonette Watts, 57, a resident and mother of a teen girl, who stopped and stared at the statue on her way to work. “If you’ve got kids you do not want them seeing that.”Another parent, Keith Verville, 48, studied the sculpture and then asked: “Why is it so big? And SO not clothed?”The statue, called “Truth is Beauty,” is on private property at the edge of a new tech office complex — in a highly trafficked and visible area just across from San Leandro’s commuter rail station.Many people, including city officials, have welcomed the statue as a reflection of the changing demographics in San Leandro, where young millennials now outnumber older residents.“This is something I’d never have thought would come to San Leandro,” said Mayor Pauline Russo Cutter. “It’s edgy and modern, and it makes me proud.”The statue debuted in 2013 at Burning Man, the annual counterculture celebration in the Nevada desert. It was then bought by developers of the complex, for a price they haven’t disclosed, under a requirement by the city to include public art at the site.Cutter said some city officials initially weren’t thrilled by the choice but ultimately liked the idea of starting a conversation about art. The mayor says the statue sends a powerful message of female strength that’s more apparent when seen up close.The sculptor, Marco Cochrane, says he was marked as a child by the rape of a neighbourhood friend and tries through art to bring attention to sexual assault and to the fear of many women, but also to the strength women feel when not afraid.“She feels safe and she is loving herself in that moment, and hopefully people can feel that feeling,” Cochrane said of the statue. “It’s a beautiful woman, and part of it is to draw men in. Then they look down and see the message and they go, ‘Ohhhh.’ I hope that happens thousands of times.”As word spreads about the statue, it’s becoming a popular selfie spot.“She is exceptional,” said Jo Sutton, 43, a high school art teacher who hopes to bring her class to see the statue.Businessman Michael Fennell, 73, stood taking pictures from several angles to send to his son, a sculptor in New York.“This is a world-class statue,” Fennell said. “This is not a woman cowering because the world is against her. This is a woman saying, ‘Here we are! We have arrived!’ I love it.” read more

East Bank Berbice home destroyed by fire of unknown origin

Police are now investigating a mysterious fire which consumed a home located in Glasgow Housing Scheme, East Bank Berbice during the late hours of Sunday evening.Based on reports received, the fire of unknown origin began in the bedroom of the one story concrete home at around 22:30hrs.Inews was reliably informed that no one was at home during the ordeal but, the neighbours in the area who noticed the blaze informed the fire service.Eyewitnesses told the media that the sound of an explosion erupting from inside of the building made them aware of the fire.While persons commended the Guyana Fire Service for their prompt response, they were unable to save the building which was scorched significantly on the inside and had its roof burnt completely, leaving millions in losses.The owners of the home were not immediately available to speak to Inews on Monday.Investigations are ongoing. Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Related read more

Michael Moore Posting Bail Money for Julian Assange

first_imgDocumentary filmmaker Michael Moore this morning announced that he will be contributing $20,000 to help bail WikiLeaks founder Julian Assange out of jail. The Fahrenheit 911 director didn’t go too far into the sexual assault charges for which Assange is being held, instead using the opportunities to extol the virtues of his site, calling support of WikiLeaks “true patriotism.” “Just imagine if the men who planned this war crime back in 2002 had had a WikiLeaks to deal with,” wrote Moore. They might not have been able to pull it off. The only reason they thought they could get away with it was because they had a guaranteed cloak of secrecy. That guarantee has now been ripped from them, and I hope they are never able to operate in secret again.”Moore also promised to offer “my website, my servers, my domain names and anything else I can do to keep WikiLeaks alive and thriving as it continues its work to expose the crimes that were concocted in secret and carried out in our name and with our tax dollars.”last_img read more

Im fked Trump tried to fire Mueller from Russia probe but claims

first_img US PRESIDENT DONALD Trump attempted to fire Special Counsel Robert Mueller nearly two years ago from the probe into Russian meddling in the 2016 presidential election.The Mueller report, which was released today in full, describe Trump’s efforts to remove the special counsel following press reports that the president was under investigation for obstruction of justice.Following the report’s release today, Trump hailed its conclusions as an exoneration, reiterating his now-famous mantra: “No Collusion. No Obstruction.”The Mueller report, however, does reveal interesting details and insights into Russian meddling and the White House reaction to Mueller’s investigation.On 17 June 2017, the Mueller report notes, Trump called White House counsel Don McGahn at home “and directed him to call the Acting Attorney General and say that the Special Counsel had conflicts of interest and must be removed.”“McGahn did not carry out the direction, however, deciding that he would resign rather than trigger what he regarded as a potential Saturday Night Massacre,” the report said, a reference to an effort by US president Richard Nixon in 1973 to thwart the Watergate investigation.As with the president’s firing of former FBI Director James Comey in May 2017, the attempt to remove Special Counsel Mueller “would qualify as an obstructive act if it would naturally obstruct the investigation and any grand jury proceedings that might flow from the inquiry,” the report notes.The report also notes that there is “substantial evidence” indicating that Trump’s attempts to remove Robert Mueller were linked to the special counsel’s oversight of investigations that involved the president’s conduct – and, most immediately, to reports that the president was being investigated for potential obstruction of justice.There is also substantial evidence that “the president’s effort to have former Attorney General Jeff Sessions limit the scope of the special counsel’s investigation to future election interference was intended to prevent further investigative scrutiny of the president’s and his campaign’s conduct,” the report notes.‘I’m f****d’The main findings of the Mueller report, a heavily redacted and colour-coded manuscript, were already pre-rempted by Attorney General William Barr’s March 24 statement which said the Mueller investigation found no criminal collusion by Trump’s 2016 campaign with Russia, and insufficient evidence of obstruction of justice.At a press conference this morning, Barr that there was not enough evidence to conclude that Trump obstructed justice.The report, however, concludes that “if we had confidence a thorough investigations of the facts that the president clearly did not commit obstruction of justice, we would so state.”For two years, the White House has denied any wrongdoing or collusion with Russia in 2016′s Presidential Election.The report notes that when former Attorney General Jeff Sessions told Trump that Mueller had been appointed Special Counsel to oversee the investigation in 2016, the President “slumped back in his chair” and said: “Oh my God. This is terrible. This is the end of my Presidency. I’m fucked.”Trump then became angry and “lambasted” Sessions for his decision to recuse himself from the investigation, asking: “How could you let this happen Jeff?”Trump felt that Sessions had let him down and that Sessions recalled that Trump said words to the effect that “you were supposed to protect me”.Trump then described Mueller’s appointment as ” the worst thing that ever happened to me.”The report also notes that the investigation team sought “a voluntary interview ” with the President. “After more than a year of discussion the President declined to be interviewed [REDACTED].”“We made the decision in view of the substantial delay that such an investigative step would likely produce at a late stage in our investigation.”‘Pursued to some degree’The investigation into Russian meddling in 2016′s election receieved testimony from 500 witnesses, issued 2,800 subpoenas, executed nearly 500 search warrants and examined more than 1.4 million pages of documents.The report notes that, throughout 2016, the Trump campaign expressed interest in Hillary Clinton’s private email server and whether approximately 30,000 emails from that server had in fact been permanently destroyed, as reported by the media, the report notes.“Several individuals associated with the campaign were contacted in 2016 about various efforts to obtain the missing Clinton emails and other stolen material in support of the Trump campaign.”“Some of these contacts were met with scepticism, and nothing came of them; others were pursued to some degree.”The investigation, however, did not find evidence that the Trump campaign recovered any such Clinton emails, or that these contacts were part of a coordinated effort between Russia and the Trump campaign.Top Democrats have already called for Special Counsel Mueller to testify before the House and Senate.In a joint-statement today, House Speaker Nancy Pelosi and Senate Democratic Leader Chuck Schumer criticised Barr for holding a press conference before Mueller’s report was delivered to Congress and hit out at what they described as his “slanted” letter from 24 March.“We believe the only way to begin restoring public trust in the handling of the Special Counsel’s investigation is for Special Counsel Mueller himself to provide public testimony in the House and Senate as soon as possible. The American people deserve to hear the truth.”Representative Jerry Nadler, chairman of the House Judiciary Committee, said this afternoon that “even in its incomplete form, the Mueller report outlines disturbing evidence that President Trump engaged in obstruction of justice and other misconduct.”“The responsibility now falls to Congress to hold the president accountable for his actions.”Nadler called for Mueller to testify before Congress no later than 23 May. At a press conference this afternoon, Trump declared of the Mueller probe: “This should never happen to another president again.” Apr 18th 2019, 6:01 PM Thursday 18 Apr 2019, 6:01 PM ‘I’m f**ked’: Trump tried to fire Mueller from Russia probe but claims victory now after no collusion found The Mueller report was released in full today. 25,936 Views Share10 Tweet Email1 By Cónal Thomas With reporting from Sean Murraycenter_img 50 Comments https://jrnl.ie/4599279 Tweet thisShare on FacebookEmail this article Image: PA Images Short URL Image: PA Imageslast_img read more

Records reveal details in homicide of Vancouver woman

first_imgAshley BensonVancouver woman’s body found Dec. 26 in a Portland hotel PORTLAND– New court records show detectives used phone records to track down a Washington man accused of killing an escort last month at a Portland hotel.Search warrant affidavits filed in Seattle and obtained by The Oregonian show Tae Bum Yoon sent or received more than 25 text messages from Ashley Benson on Christmas and called her twice. The records indicate he arrived at the hotel Christmas night and got a room where Benson had gone to meet a man. The records show Benson and Yoon had previous encounters and had some type of disagreement over money owed.Benson’s body was clothed when it was found Dec. 26 just inside a stairwell door at a DoubleTree hotel near downtown. The affidavit says a medical examiner believes Benson’s attacker strangled her.Yoon, 24, pleaded not guilty to murder at a court appearance last week. He remains in custody at a Portland jail.According to the affidavits, Yoon, who also goes by Chris and lives in Bellevue, had checked into his room at the hotel under a reservation made by another Bellevue man with a similar name: Chris Youn, was expected to arrive the next day.Yoon showed up at the hotel’s front desk about 9 p.m. Christmas and pretended to be Chris Youn, the records state. He said he wanted to check in early.last_img read more

Borrowing in a Time of Credit Crisis

first_imgPublishers with multiple adjustments to their financial statements won’t have much wiggle room with loan terms. “Lenders are looking for clean financial statements—free of adjustments and/or add-backs, particularly for acquisition targets—and consistent, solid financial performance from the existing company,” says Tom Flynn, chief financial officer at Summit Business Media (which completed its last major refinance last July right before the credit market soured). “There is not as much flexibility in the market place on terms and conditions as there was in prior years.”Publishers with existing loan agreements shouldn’t feel that their terms are locked in. “I have noticed that, for existing credit agreements, especially those that were negotiated prior to the credit markets becoming much more challenged, the lenders are holding you ‘to the letter,’” says Flynn. “There is a general feeling that banks are much more inclined to charge not just fees for changes and amendments but will also implement a re-pricing for what, in the past, may have been a rather minor change to an existing agreement. This can be frustrating to a business even with an existing agreement.”What Lenders Look ForStill publishers that have positioned themselves with multiple revenue streams and emerging new media models are more likely to receive favorable terms which have always been differentiated depending on business model, scale of the company, competitive positioning, etc. An established publisher with a category-leading product offerings and scale is generally going to receive more favorable financing terms and conditions than a smaller, less-seasoned publisher with developing product offerings. In the current environment, lenders and investors are placing more value on publishing companies with successful e-media and event businesses as part of their total company mix and as such are more willing to provide more favorable financing terms. Subscription-based and usage-driven revenue sources in particular are considered a valuable component, especially in the weaker advertising environment, according to Shu.“Generally, in the b-to-b space, we look for companies with either the #1 or #2 position in their category that can deliver their content to audiences in a variety of ways, from print to online to in-person events such as trade shows or conferences,” says Shu. “The #1 or #2 position is important since in a slower economic environment, advertisers or sponsors with a smaller budget will typically gravitate toward the market leaders. A seasoned management team that has operated through various economic cycles is critical as well.”Mangan says the most important consideration is diversity of cash flow. “Properties with single titles are the toughest to finance,” he adds. “Diversity of flagship titles and a complement of events and trade shows demonstrate that diversity of collateral, for a lack of better phrase. With the loss of eyeballs on the print side, you want to see the Web at least bridging that gap.” But being a proven performer can go a long way toward a favorable relationship with your lenders. “You must continue to deliver the financial results as agreed to in your financing agreements,” says Flynn. “You have to focus on having your existing assets perform and continue to invest in assets with upside potential and take advantage of areas for consolidation to mitigate risk in sluggish economy. Remember, this is a challenging market for everyone right now. Once the market settles a bit, you want to be a proven performer whom the lending partners want to continue to do business with and help grow your business.” The credit crunch, which began in July 2007 as result of the subprime fallout and subsequent fall-out in liquidity, is pinching the magazine industry well beyond just magazine M&A. “You’ve got to spend money to make money” or so the old saying goes, and at a time when publishers are trying to reinvent themselves and investing in both online staff and technology (as well as buying new media companies), loans are necessary to fund the growth. But getting those loans at a favorable rate is much harder than it was two years ago. “Lending levels and terms are much less liberal,” says Ray Shu, media team leader for GE Media, Communication and Entertainment Group, part of GE Capital Markets Inc. “Funded leverage (on both a senior and total basis) has dropped meaningfully.”Previously, financing was available at up to 5.5x senior debt and up to 7.5x with a second lien for many publishing deals of scale ($15MM+ EBITDA companies), according to Shu. Average equity-to-total capital levels were typically in the 25 percent to 30 percent range. In today’s market, senior debt leverage levels are in the 3.5x to 4x range with total debt levels topping out at 5x to 5.5x. Average equity-to-total capital requirements are typically in the 45 to 55 percent range, says Shu.“Gone are the days when the senior first lien piece was up in the fives and maybe a little bit more with the second lien or mezzanine,” says Chris Mangan, managing director and head of U.S. media finance with Stamford, Connecticut-based Bank of Ireland. “If you consider we’re a year into this credit crunch, leverage multiples are off at least a full turn at the senior and mezzanine levels.” last_img read more

USPS Loses 15 Billion in FYQ2

first_img As a class, periodicals continued to decline for the USPS. Volume was down 1.2 percent, contributing to a 1-percent revenue loss from magazines, newspapers and other publications distributed by mail. Operating revenue was up 1.3 percent, or $223 million, to $16.9 billion, on the strength of 14.4-percent growth in shipping and package volume. Total mail volume fell by 1.3 percent however. Meanwhile, the USPS posted a net loss of $1.5 billion in the quarter. Excluding a retiree health benefit prefunding expense, the net loss would have dropped to $44 million though. The U.S. Postal Service saw operating revenue increase in its fiscal second quarter, though it continued its record of net losses. “For years, trends in hard-copy reading behavior and advertising shifts from print to other media have impacted this segment,” the report notes. “Periodicals are not expected to rebound as e-readers and electronic content continue to grow in popularity with the public.”last_img read more

Alaska News Nightly Tuesday Mar 8 2016

first_imgStories are posted on the APRN news page. You can subscribe to APRN’s newsfeeds via email, podcast and RSS. Follow us on Facebook at alaskapublic.org and on Twitter @aprn.Download AudioIvy Spohnholz named to fill vacant Gruenberg seatAndrew Kitchenman, KTOO – JuneauGovernor Bill Walker named Ivy Spohnholz Tuesday as his choice to fill the vacancy caused by the death of Representative Max Gruenberg in February.USFW chief says no to delay of Tongass timber transitionLiz Ruskin, APRN – Washington D.C.This morning in Washington, Forest Service chief Tom Tidwell said the same thing several different ways. He repeatedly insisted the plan to move to young-growth trees in the Tongass can sustain Southeast Alaska’s timber industry. Sen. Lisa Murkowski is unconvinced.Foster care and services for Native children now handled by largest tribal governmentEd Schoenfeld, CoastAlaska – JuneauThe largest tribal government in Southeast Alaska now has authority over foster care and other services for Native children facing abuse or neglect. An agreement signed Wednesday this week transfers state management, as well as funding, to the Central Council of Tlingit and Haida Indian Tribes of Alaska.Brent Sass, Noah Burmeister, and Dallas Seavey race on to McGrathBen Matheson, APRN Contributor – AnchorageDallas Seavey has surged to the front of the Iditarod pack between Nikolai and McGrath. The defending race champion dropped one dog and rested four hours in Nikolai, about 250 miles into the race. His father Mitch Seavey and Wade Marrs are following closely behind as of 4:00 p.m. this afternoon, according to the Iditarod Insider GPS tracker. Pete Kaiser and Aily Zirkle round out the front pack.Dallas Seavey: Iditarod reaches a turning point in Nikolai Emily Schwing, KNOM – NomeNikolai was bustling all day as dog teams pulled in and out of the sixth checkpoint. It’s a turning point in the race.  Teams have passed over some of the roughest trail. From here, mushers will evaluate their dogs as they try to decide how best to execute their race plans.Aging Southeast: Assisted living comes up shortLisa Phu, KTOO – JuneauDue to a shortage of assisted living homes, some of Southeast Alaska’s aging residents can’t stay in their home communities. Facilities in Juneau, Ketchikan, Sitka and Petersburg provide assistance to seniors needing help with daily activities, such as cooking, dressing and medication management. As part of the CoastAlaska series Aging Southeast, KTOO’s Lisa Phu reports on how the region isn’t keeping up with the demand for assisted living, and that demand is only expected to grow.Alaska musicians get creative for Tiny Desk ContestKiera Alkema, KTOO – JuneauLast week, NPR Music announced the winner of its second-ever Tiny Desk contest, Duluth, Minnesota’s Gaelynn Lea. More than 6,000 hopeful bands and solo musicians submitted videos of their original music for a chance to play NPR Music’s coveted Tiny Desk at headquarters in Washington, DC. Though there can only be one winner, here are some of the stand out Alaskan performers who competed for the title.last_img read more

Throwback When Bollywood stars alienated Vivek Oberoi over his ugly spat with

first_imgPictured: Vivek Oberoi on Yaaron Ki Baarat; Salman Khan on Bigg Boss 10.Varinder ChawlaThe infamous brawl between Salman Khan and Vivek Oberoi will always remain one of the ugliest spats in the Bollywood industry. In 2003, Vivek had called a press conference and had claimed that Salman had telephoned him in the mid-night 41 times accusing him of having physical relationships with his ex-girlfriend Aishwarya Rai, Diya Mirza, Rani Mukherjee and Somy Ali. Vivek had even said that an inebriated Salman had threatened to kill him.Interestingly, no one from the Bollywood industry came out in support of Vivek’s outburst in the media. Instead, they all spoke against Vivek for speaking about the incident in the media rather than sorting out their differences personally.”In the film industry, there is a code of honour whereby all problems are sorted out internally,” Abhishek Bachchan had spoken in support of Salman against his ugly spat with Vivek Oberoi.Kareena Kapoor, who had worked with Salman in a film and was good friends with him, too had expressed her dismay over the entire controversy and said that “if Vivek had a problem with Salman, why could he not solve it instead of going to the press?”Salman’s good friend Suniel Shetty had also said that Vivek calling a press conference to talk about Salman behaving badly with him was in a very bad taste.”I don’t know what’s happening with Vivek and how he looks at life. Being an actor and a coartiste, he should not have taken the matter to the press. If he felt Salman had behaved badly, he [Oberoi] should have confronted him [Khan] physically instead of talking about it on television. I thought it was in very bad taste. Everyone believes Vivek has done it for publicity,” Shetty had said back then.He had further added, “I know Salman,” continues Shetty, “He is a fantastic human being. He [Khan] says he made a call or two. But he says he wasn’t abusive. I get irked with some seniors, for example, when they come late on the sets. But I still hero worship them. Where is the question of Salman getting insecure about his career? Filmmakers keep going back to Salman.”Director Sanjay Leela Bhansali had described Salman Khan as the best human being and said that Vivek had committed the biggest blunder ever by any actor in Mumbai. He had further said that he was scared of Vivek after his outburst and would never be able to work with him in the future. “Vivek must learn discretion from stars like Shah Rukh Khan, Aamir Khan, Hrithik Roshan and Ajay Devgan,” he added.Taking a dig at Vivek, Bhansali had said, “I may shout at him on the sets and he may call a press conference against me. All the heroines should touch his feet for protecting their dignity. If Vivek’s dog has dysentery tomorrow, we should be prepared to hear Vivek talk about it on camera for three hours.” Salman Khan, Aishwarya Rai, Vivek OberoiPost his infamous brawl with Salman, Vivek’s acting career had started losing the limelight. In 2017, Vivek had opened up about his downfall in Bollywood and said that even after delivering a hit, no movie offers would come to him.”When my personal life got messed up, I couldn’t keep my eye on the ball. Even if I gave a hit, work wouldn’t follow. Shootout at Lokhandwala became a huge hit, but I sat at home for a year after that,” he revealed, suggesting that no one was approaching Vivek for roles as Salman had instructed all not to.However, after splitting up with Aishwarya in 2005, Vivek had apologised to Salman during a public performance in 2007, but it failed to amuse Salman.Well, as they say, you must never mess up things with Salman.last_img read more

Baby locked in car at Oval Shopping Centre

first_imgSharaj Ambulance Services also responded to the scene.The frantic parents were delighted to see their child safe and unharmed.Story updated WebsiteWebsiteWebsite WebsiteWebsiteWebsite WebsiteWebsiteWebsite An 18-month-old baby was locked in a car this morning (Monday) at the Oval Shopping Centre.It is believed that the parents got out of the car and before they could take the child out of the car the car doors were accidentally locked. The car key’s were locked inside the car with the child.Public Safety Assistant Manager Mehmood Abdool broke one of the car’s windows in order to get the infant out.last_img read more

5 things to do at home on a lazy Sunday

first_img1- Get lost in a good book. Ditch the dull reads (work-related documents, emails, bills and other unexciting paperwork) on the weekend and lose yourself in a gripping novel, literary classic or trashy ‘chick lit’ instead. Reading isn’t just a pleasurable pastime; studies have shown that it also offers numerous health benefits  such as improving brain function and reducing stress levels, making it the perfect way to relax on a Sunday before the start of the new work week.2-  Host a  casual get-together. What better way to spend your Sunday afternoon than by inviting your family and friends over for a low-key lunch.3- Whip up a batch of treats. Baking is a great Sunday activity, as it is both creative and fun. Not to mention the tasty treats for all!4- Challenge your family to a board game. You know how much fun this can be, from classics like Monopoly to a host of others!5- Enjoy a movie marathon. Whether horror, action or comedy is your cup of tea, settle down and be enthralled for hours on end! WebsiteWebsiteWebsite WebsiteWebsiteWebsite WebsiteWebsiteWebsite How do you normally spend your Sunday afternoons? Do you like to potter around your home and do a quick tidy-up as you meander from room to room? Find a quiet spot to relax and indulge in some ‘me time’? Or is this time solely dedicated to chilling at home with the family?  Here are 5 ways you can make the most of your lazy Sunday.last_img read more

Goa Tourism gears up to facilitate screen tourism

first_imgIn order to develop Goa as a film tourism destination, the government is looking forward to ensuring various infrastructure facilities in place such as a film city and facilitate film production. It has plans for providing equipment such as cranes, spotlights, reflectors, camera etc. along with many other production facilities needed for film shootings. Easing editing will also create employment opportunities in the state.Manohar Ajgaonkar, Minister for Tourism, Government of Goa, said, “Goa is all set to organise the annual International Film Festival (IFFI) which will draw the film fraternity and film fans to Goa in large numbers. The Entertainment Society of Goa is also playing an important role in easing out procedures and permissions for film shootings in Goa through a single window system.”He also added that Goa is the most preferred destination for film shootings. Goa’s picturesque locations make it a hotspot for films and producers to come and capture the scenic locations of Goa which includes the beaches, heritage, hinterlands, monsoons, adventure activities, festivals and much more.last_img read more

Sources Ole Miss planning to hire Phil Longo and Wes McGriff

first_imgOle Miss is planning to hire Phil Longo as its offensive coordinator and Wes McGriff as its defensive coordinator, sources told FootballScoop Thursday.A source tells FootballScoop that once the deals are finalized an announcement should come no later than Friday.Longo will arrive to Oxford from Sam Houston State, where he put together one of the most potent attacks in the NCAA. The Bearkats reached the FCS Quarterfinals with an offense that led the subdivision in total offense (547.3 yards per game) while ranking second in scoring (49.5 points per game), passing offense (368.3 yards per game) and placed fourth in passing efficiency. Sam Houston State topped the 40-point barrier 11 times in its 12-1 season, broke the 50-point mark seven times and reached 60 points in three games.Longo is a finalist for the FCS Coordinator of the Year award. AD Quality Auto 360p 720p 1080p Sponsored By Connatix McGriff presently serves as Auburn’s defensive backs coach and coached the secondary for the New Orleans Saints for three years before that. Affectionately known as “Crime Dawg,” McGriff has experience at four different SEC schools, including a 1-season stint on Hugh Freeze’s Ole Miss staff in 2012. An excellent recruiter and coach, Ole Miss will be McGriff’s first coordinator job, though FootballScoop learned last year Vanderbilt offered to make him their defensive coordinator last year before talks broke down in the late stage due to contractual issues.Ole Miss is looking to rebound from the first down season of the 5-year Freeze era, dipping to a 5-7 mark after winning 19 games in 2014-15. The Rebels ranked 45th nationally in scoring offense and 100th in scoring defense.As always, stay tuned to The Scoop for the latest.last_img read more