KCS-content Monday 18 October 2010 8:23 pm Tags: NULL Read This NextThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap THE PLANNED Hong Kong initial public offering of AIA, the Asian life insurance business of American International Group (AIG), is set to close two days earlier than anticipated after institutional investors rushed to pledge their interest in buying the shares, it emerged yesterday.AIA has indicated that it will price the IPO later this week within a range of HK$18.38 (£1.49) and HK$19.68 per share, raising up to $15bn (£9.43bn) as a base scenario before the option to release more shares is exercised. If that happens, the firm could raise up to $20.6bn in the world’s third-biggest ever IPO, leaving its American parent with a stake of just 32.9 per cent.AIA is understood to have easily covered the share sale at the top of the range after a two-week roadshow with investors, prompting plans to close its books today rather than Thursday.Among those investors lapping up the offer are thought to be $300bn Chinese state sovereign wealth fund China Investment Corp and corporates such as China Life Insurance.AIA yesterday also began its retail offering, marketing the shares to the public prior to the stock market debut. AIA to close IPO books early as investors jump to buy the shares whatsapp whatsapp Share Show Comments ▼
Support conservation and fish with NEW Florida specialty license plate The Anatomy of Fear TAGSOrange County Commissioner Rod Love Previous articleNuns on the Bus coming to Apopka next weekNext articleFlorida’s Amendment 4: Restoring voting rights to people with felonies might also reduce crime Denise Connell RELATED ARTICLESMORE FROM AUTHOR You have entered an incorrect email address! Please enter your email address here Upcoming Next Week, Part 2: Orange County Work Session on Children’s ServicesFrom District 2 Orange County Commissioner Rod LoveLet me start off this week’s column by saying that the below is addressed to anyone interested in being effective in addressing family and children issues in communities that have demonstrated the necessity of a laser-like focus to be successful.On October 30th, 2018 at the Commission Chambers at 201 South Rosalind Avenue Orlando, FL 32801, the Orange County Board of County Commissioners will be engaged in a Work Session to address children services. As during the public budget workshops, I am compelled to solicit citizen support for the establishment of Community Empowerment Zones (CEZ) for blighted communities riffled with high juvenile arrests, low performing schools, high incidents of behavioral referrals, high child welfare placements into foster care placements, early learning enrollment of low income families, and an array of undiagnosed children’s services needs.Orange County Commissioner Rod LoveWhile there is much that ails impoverished communities, such as the lack of economic opportunities, CEZ has a singular goal that incorporates a hybrid theory of a very successful law enforcement management philosophy called CompStat. CompStat directs the deployment of limited resources within a defined geographical area to address specific data driven needs while achieving maximum effectiveness.In 2016, the Orange County Board of County Commissioners allocated $250,000 to create a program specifically for small grassroots nonprofit organizations. The Small Scale Citizens’ Review Panel (SSCRP) Funding Program was developed by the Citizen’s Commission for Children (CCC) and is currently being piloted with five nonprofit organizations. The goal of this program is to aid smaller agencies in gaining access to Orange County funding opportunities. I applaud Commissioners Clarke and Siplin for their leadership and efforts in concert with the Board in championing this initiative. In proposing the establishment of Community Empowerment Zones (CEZ), my intent is to build upon the efforts already established and put into the Review Panel program.I am imploring community and faith leaders as well as all community stakeholders to attend the Work Session to exercise your right to speak in favor of the establishment of CEZ during public comment, which will begin promptly at 9:00 a.m. Those who wish to give public comment may do so by arriving early before 9:00 a.m. on October 30th and completing a speaker card at the desk in front of the Chambers or online. CEZ provides an incredible opportunity to empower community stakeholders to engage in taking personal and community responsibility in their communities.My father-in-law, who happens to be a pastor, provides spiritual leadership to my family and I, and one particular verse that he shares is applicable for this topic is James 4:2, “You have not because you ask Not”. Let me be clear: CEZ is not welfare, it is economic wellcare. CEZ utilizes existing resources to provide direct services to children and families who are in desperate need of these services.After Orange County Mayor Teresa Jacobs proposed $20 million for children’s’ services a few months ago, it has become incumbent on the Board to explore a transformative undertaking specific to being purposeful in addressing lack of economic opportunities and resource effectiveness. In doing so, the Board also has the obligation to ensure that such approach is consistent with its past business logic in expending tax-payer dollars for specific purposes with defined and measurable outcomes.As I had stated in a memo to my fellow Board members back in July, the timing could not be better for the establishment of a critical services funding formula based on community needs. This formula would be inclusive of the proposed $20 million in new funding for children services and the existing $67 million currently allocated for children services, for a total of approximately $90 million. After the establishment of the funding formula, critical need services could be targeted in geographical areas with documented needs based on empirical data. Several of the identified geographical areas would be designated as CEZ with the specific intent to concentrate children and family services through economic investment in under-served communities. The primary focus areas are: Head Start; child welfare; juvenile delinquency; healthcare disparities; and mental/behavioral health.In addition, the Board must solidify the commitment to this initiative by codifying it into policy as a mandate to ensure funding appropriations are based on empirical data and specific outcome objectives. To this end, the level of funding for CEZs should commensurate with and proportionate to the level of need as indicated by empirical data in the identified areas.This is an opportunity to create a new paradigm of social responsibility and accountability through the creation of CEZs that incentivize local community stakeholders to invest directly or indirectly in the creation of human service jobs. The jobs will benefit disadvantaged youth, families, and communities while positively impacting the local economy, and CEZ in particular. Additionally, this initiative places true community responsibility on contractual outcomes that improves quality of life issues in communities decimated by poverty and other related issues. Furthermore, this initiative would also strengthen and develop direct community-based leadership and accountability in the delivery of services to children and families.We as a Board have a vested interest in moving the needle towards a more effective and efficient use of tax payer dollars. However, we also need the input and perspectives of community stakeholders to carry out this initiative. Talk to your neighbors, friends and family. Ask your pastors and community leaders where they stand on this topic. Will they show up? Will you? Whether you plan to speak or not, I am requesting that everyone wear the color green which symbolizes hope and growth as well as to show your support for this important issue.I hope to see all of you (again) on October 30th. Please enter your name here Please enter your comment! 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ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/916126/bornet-house-savioz-fabrizzi-architectes Clipboard Architects: Savioz Fabrizzi Architectes Area Area of this architecture project Manufacturers: KWC, Miele, Siemens, Winckelmans ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/916126/bornet-house-savioz-fabrizzi-architectes Clipboard Area: 115 m² Year Completion year of this architecture project Laurent Savioz, Barbora Pisanova Save this picture!© Kristyna StrejcovskaText description provided by the architects. This former barn constructed of rubble masonry is in the center of the village of ollon, which is densely built-up. The ground floor is a single space, broken up by a utility area. The living room is to the west, next to the entrance, and the main bedroom, which is on a slightly higher level, is to the east. This difference in levels between the living area and the sleeping area reduces the spatial impact of the utility area on the sleeping area and gives the sitting room some height. The floor line is the same as that of the present sloping floor and is therefore compatible with the existing wall openings.Save this picture!© Kristyna StrejcovskaSave this picture!Ground Floor PlanSave this picture!© Kristyna StrejcovskaThese openings are all retained, in order to preserve the historic design of the barn. however, the west wall, which needed to be rebuilt, contains a window that runs across the entire width of the building. The design takes advantage of the unobstructed space provided by the sloping site to give the living room a view over the rhône valley, while the bedroom enjoys direct access onto a small terrace. Save this picture!© Kristyna StrejcovskaThe lateral wall openings are left unaltered and are a modern reinterpretation of the wooden screen walls which used to help keep the barn properly ventilated. The new screen walls are aligned with the outer wall and will provide future occupants with a degree of privacy. The basement contains an office with a bathroom, and the plant room, which is partly underground. An exposed concrete slab, stained black, runs along the whole of the ground floor. the walls are covered in OSB, also stained black.Save this picture!© Kristyna StrejcovskaSave this picture!Section 1Save this picture!© Kristyna StrejcovskaProject gallerySee allShow lessReaction And Fire Resistance: How Are Materials Classified In The Event Of A Fire?ArticlesBrasserie 2050 Restaurant / Overtreders WSelected Projects Share Switzerland “COPY” Photographs: Kristyna Strejcovska, Thomas Jantscher Manufacturers Brands with products used in this architecture project CopyHouses•Ollon, Switzerland Bornet House / Savioz Fabrizzi Architectes Year: Save this picture!© Kristyna Strejcovska+ 40Curated by Paula Pintos Share Houses Projects Photographs “COPY” Bornet House / Savioz Fabrizzi ArchitectesSave this projectSaveBornet House / Savioz Fabrizzi Architectes 2017 ArchDaily Lead Architects: CopyAbout this officeSavioz Fabrizzi ArchitectesOfficeFollowProductsStoneConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesOllonSwitzerlandPublished on May 01, 2019Cite: “Bornet House / Savioz Fabrizzi Architectes” 01 May 2019. ArchDaily. Accessed 11 Jun 2021.
Plastic bag levy raises almost £10m for charities, according to CAF figures Tagged with: corporate plastic bag levy Melanie May | 5 August 2016 | News AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis24 180 total views, 2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis24 Between October 2015 and April 2016 Marks & Spencer used 45.7 million single use carrier bags in its UK stores. The net proceeds were £1.9m with the money raised going to a number of charities via CAF with whom the retailer has worked for many years including Breast Cancer Now, UNICEF and WWF.Sainsbury’s removed all single use carrier bags from its stores in England, Scotland and Wales, instead charging 5p for stronger, re-useable bags made from 100% recyclable material. If they wear out the retailer replaces them free of charge. While not subject to the levy, profit from sale of the bags is donated by individual stores to local charities via CAF with over a thousand good causes supported overall.Props to @sainsburys for their new tougher, reusable, perpetually replaceable 5p bags!Less #marinelitter? pic.twitter.com/05wQqFtWp6— Richard Ticehurst (@RichTheTall) October 6, 2015 Klara Kozlov, head of CAF’s Corporate Clients team, said:“Not only has the introduction of the plastic bag levy benefitted the environment, but it has had a huge positive impact for charities. Millions of pounds has been raised for good causes which has helped to fund vital work which otherwise may not have been possible.“By working with CAF, using CAF company account charitable accounts and creating new strategic partnerships, retailers have maximised the opportunity to support national as well as local organisations. We hope they will continue to work together to develop these worthwhile relationships which benefit so many good causes.” 179 total views, 1 views today Nearly £10 million has been distributed to charities via the Charities Aid Foundation by retailers including Aldi, Marks & Spencer and Sainsbury’s since the levy was introduced in October 2015, CAF has revealed.CAF figures show that the levy had raised at least £29 million in total for good causes in its first six months.Aldi has raised approximately £1.1m by the sale of carrier bags in its stores., and has donated £580,000 to the RSPB as part of a three year partnership, according to CAF. The partnership has enabled the implementation of a UK-wide education programme with the aim of re-engaging children with nature. The remainder of the money has been placed into Aldi’s CAF Company Account for distribution to other good causes.Did you know that every 5p you spend on an Aldi carrier bag goes directly to the RSPB! https://t.co/IAzpi9CQN0 pic.twitter.com/4Saq6LRZyh— Aldi Stores UK (@AldiUK) January 3, 2016 Advertisement About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via www.thepurplepim.com.
Twitter Home Local News Government Outside firm replaces city attorney WhatsApp Twitter Facebook By admin – February 16, 2018 Landgraf staffer resigns following investigation Foolproof Roasted Pork TenderloinVirgin Coco MojitoHawaiian Roll Ham SlidersPowered By 10 Sec Mama’s Deviled Eggs NextStay Local NewsGovernment Outside firm replaces city attorney Facebook Larry Long, Odessa city attorney. Pinterest The City of Odessa will pay more than $25,000 a month to a law firm that will serve as a temporary replacement for City Attorney Larry Long, who is set to retire at the end of this month following a sexual harassment complaint corroborated by the city’s human resources department.On Tuesday, in a 3-2 vote, the Odessa City Council approved budgeting $130,000 for legal services provided by the Austin-based Bojorquez Law Firm, which specializes in municipal law and cites experience working as the city attorney for cities including Waco and Tyler.The arrangement with the firm, paid a monthly retainer for an attorney to work in Odessa five days a week, can be terminated at anytime, said Darrell Wells, the head of the city’s human resources department. And Mayor David Turner said the city will post a job advertisement for the city attorney position in the coming weeks so the City Council can find a permanent replacement for Long.Wells said hiring an outside firm to handle the city’s routine legal work is not uncommon in Texas. And two council members who serve on a personnel committee — District 3 Councilwoman Barbara Graff and District 5 Councilman Filiberto Gonzales — had recommended the approach. Both had said the city should move quickly to hire the firm so an attorney can begin work ahead of Long’s retirement for a smooth transition.But Graff joined District 1 Councilman Malcolm Hamilton on Tuesday in arguing that the City Council should delay hiring the firm.“To me we’ve got a lot of questions to answer and ask before we sign a contract,” Graff said, adding later that she wanted to meet behind closed doors first to talk to the attorney who will fill in for Long.Hamilton, who missed a meeting last week where council members discussed hiring the firm, criticized what he described as a last-minute decision.“Why didn’t we start the process the day that we understood that Larry would be moving on?” Hamilton.Turner replied that the council had been working on the temporary replacement, a process that included vetting the firm, for about a month.The City Council members who approved hiring the firm were District 2 Councilman Dewey Bryant, District 4 Councilman Mike Gardner and Gonzales.“It’s not necessarily the individual that we are hiring,” Gonzales said. “We are hiring a firm that has many people on the team that actually can come and provide the service that we need.”Wells said the specific attorney who will serve as the replacement has not been selected.“It may very well be that more than one would end up being interviewed (so) that we can find the right fit,” Wells said.Long’s departure follows a complaint filed last summer by a female legal assistant who accused him of sexually harassing her in ways including touching her hair against her will and staring at her. HR officials corroborated her account through an investigation that included interviews with additional employees.The July 24 HR report also pointed to behavior by Long such as sitting too close to her and calling his employees pet names. One of the authors of that report, HR Director Bonita Hall, who later resigned, also noted it was repeated behavior by Long from another sexual harassment case in 2007 that resulted in a month-long unpaid suspension.“If Larry Long is to remain in the employment of the Odessa City Council, greater discipline than the previous 30-day suspension should be meted out,” the HR officials wrote, along with other recommendations that also included changes to the way the legal department is managed.But Gonzales and Graff dismissed the findings of an HR report. And the three remaining council members said later they were not provided the report for months. After the full City Council had it, they still never disciplined Long.Instead, Long was allowed to retire.Long announced his resignation on Nov. 28, telling reporters he wanted to work through the end of this month for better retirement benefits and because he had work he wanted to continue. Long has denied the allegations and repeatedly declined to discuss them.Meanwhile, the total costs of resolving the sexual harassment complaint remain unclear. The city continues to fight the release of records showing any payment of taxpayer money as part of a settlement to the legal assistant, who had filed a complaint with the federal Equal Employment Opportunity Commission.City officials later reported resolving that case but refused to discuss the terms. The city’s outside counsel, Cal Hendrick, cited a confidentiality agreement between the city and the legal assistant in a pending appeal to the state Attorney General’s office that seeks to withhold records requested by the Odessa American.Open government experts say any payment of public funds is clearly public information that the city should not be able to keep secret.The City of Odessa, on Jan. 16, disclosed it had paid $23,300 for Hendrick’s work related to the sexual harassment complaint.After Long’s resignation, the city projected paying about another $10,800 toward his retirement benefits through the state. Long’s salary, after the City Council awarded him a 3 percent raise in November, is about $201,500.There will also be a retirement party for Long next week at City Hall. 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TAGS Local NewsBusiness Pinterest WhatsApp LUXEMBOURG–(BUSINESS WIRE)–Feb 24, 2021– SES Networks has announced today that it is working with Virgin Voyages to provide its fleet with the industry’s leading high-speed, low-latency connectivity. The ultra-modern Wi-Fi service will be free for every sailor. That’s pretty fly for Wi-Fi! This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210223006270/en/ SES Networks to Power Ultimate Guest Connectivity Experience on Virgin Voyages’ Scarlet Lady (Photo: Business Wire) Virgin Voyages’ Lady Ships will boast incredible speeds, unprecedented reliability, and all the bandwidth passengers could possibly need thanks to SES Networks’ satellite-enabled Signature Cruise Solution. Sailors on board the fleet will be able to stream their favourite HD movies, game online without lag, and seamlessly keep posting to the ‘gram while living for the moment and getting their full dose of Vitamin Sea. “SES Networks offers us unique, reliable capabilities that rival land speed connectivity,” said Andy Schwalb, Chief Marine & Technology Officer at Virgin Voyages. “This service has played a critical role in the success of our inaugural events last year, while also enabling our crew to remain connected and close to their loved ones during this challenging time. We know our Sailors will enjoy this service during their voyage as they document their vacation and share with others.” “It’s a delight to work with partners like Virgin Voyages who are raising the bar in the industry. They’re creating a sea change in the cruise market and high-speed connectivity is critical to realising their sky high ambitions,” said Simon Maher, Vice President Global Sales, Cruise Maritime Services at SES Networks. “Through our ultra-fast, low-latency connectivity, we’re able to empower Virgin Voyages’ sailors with Pretty Fly for a WiFi at sea that’s even faster than most home broadband.” SES Networks’ Signature Cruise Solution is an end-to-end service that combines SES’s low-latency O3b satellite constellation, its upcoming next-generation O3b mPOWER system and its highly reliable geostationary (GEO) fleet to ensure seamless connectivity across the globe. Both O3b and O3b mPOWER systems are operating in the medium earth orbit, around 8,000km above earth’s surface. The O3b mPOWER, when operational in 2022, will deliver significant increase of flexibility and throughput, and can deliver multiple gigabits per second to any Virgin Voyage ship sailing anywhere on earth during seasonal peaks and in areas of high density. Follow us on: Twitter | Facebook | YouTube | LinkedIn | Instagram Read our Blogs > Visit the Media Gallery > About SES SES has a bold vision to deliver amazing experiences everywhere on earth by distributing the highest quality video content and providing seamless connectivity around the world. As the leader in global content connectivity solutions, SES operates the world’s only multi-orbit constellation of satellites with the unique combination of global coverage and high performance, including the commercially-proven, low-latency Medium Earth Orbit O3b system. By leveraging a vast and intelligent, cloud-enabled network, SES is able to deliver high-quality connectivity solutions anywhere on land, at sea or in the air, and is a trusted partner to the world’s leading telecommunications companies, mobile network operators, governments, connectivity and cloud service providers, broadcasters, video platform operators and content owners. SES’s video network carries over 8,200 channels and has an unparalleled reach of 367 million households, delivering managed media services for both linear and non-linear content. The company is listed on Paris and Luxembourg stock exchanges (Ticker: SESG). Further information is available at: www.ses.com. About Virgin Voyages Virgin Voyages is a new lifestyle travel brand focused on delivering irresistible cruise vacations. The brand currently has four ships on order with master shipbuilder Fincantieri and has operations in the US, UK and across Europe. Virgin Voyages’ first ship, Scarlet Lady was designed to reflect a yacht’s sleek luxury, offering the intimate, elevated experience of a boutique hotel at sea. Featuring spaces designed by some of the top names in contemporary interiors, Scarlet Lady is Adult-by-Design and a sanctuary at sea for the 18+ traveler. A dose of Vitamin Sea will be naturally intertwined across the entire ship, with well-being, relaxation and rejuvenation at the forefront. Scarlet Lady will also feature alluring entertainment and 20+ world-class intimate eateries on board. With a modern twist on luxury, coupled with discerning design, Virgin Voyages offers incredible value for its sailors, including unlimited access to all restaurants and eateries, group fitness classes, free WiFi and tips covered in the voyage fare. View source version on businesswire.com:https://www.businesswire.com/news/home/20210223006270/en/ CONTACT: Suzanne Ong External Communications +352 710 725 500 [email protected] KEYWORD: LUXEMBOURG EUROPE INDUSTRY KEYWORD: TELECOMMUNICATIONS SATELLITE NETWORKS AUDIO/VIDEO TRAVEL CRUISE TECHNOLOGY MOBILE/WIRELESS SOURCE: SES Copyright Business Wire 2021. PUB: 02/24/2021 02:50 AM/DISC: 02/24/2021 02:50 AM http://www.businesswire.com/news/home/20210223006270/en WhatsApp Facebook Twitter Previous articleBiden mourns 500,000 dead, balancing nation’s grief and hopeNext articleHewlett Packard Enterprise Paves Way For Mass Deployment of Open RAN in 5G Networks with Industry-First Open RAN Solution Stack Digital AIM Web Support Facebook Twitter Pinterest By Digital AIM Web Support – April 6, 2021 SES Networks to Power Ultimate Guest Connectivity Experience on Virgin Voyages’ Scarlet Lady
FHFA Report to Congress Reveals Milestones, Problems Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Government, Headlines, News Tagged with: Congress Conservatorship Fannie Mae FHFA Freddie Mac June 16, 2014 804,736 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / FHFA Report to Congress Reveals Milestones, Problems Servicers Navigate the Post-Pandemic World 2 days ago Previous: Home Price Appreciation Continues in April Next: May Inventory Up; Home Sales Down Colin Robins is the online editor for DSNews.com. He holds a Bachelor of Arts from Texas A&M University and a Master of Arts from the University of Texas, Dallas. Additionally, he contributes to the MReport, DS News’ sister site. About Author: Colin Robins Related Articles Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Congress Conservatorship Fannie Mae FHFA Freddie Mac 2014-06-16 Colin Robins The Best Markets For Residential Property Investors 2 days ago Subscribe The Federal Housing Finance Agency (FHFA) submitted its 2013 Report to Congress, which detailed findings from the agency’s examination of Fannie Mae and Freddie Mac. The report found that although experiencing significant exposure to credit losses from mortgage originations several years prior to the government’s conservatorship, the two GSEs had record amounts of net income in 2013.The report noted that combined net income for Fannie and Freddie totaled $132.7 billion, benefiting from a number of non-recurring items such as “the reversal of the valuation allowance associated with deferred tax assets and various legal settlements.”The FHFA found that the credit quality of new single-family guarantees in 2013 remained high by historical comparisons. They found that higher risk loans, such as no-income documentation or interest-only mortgages, have mostly been eliminated from the GSEs portfolio. Loan-to-value ratios for mortgages in 2013 stood at 73 percent, while the average credit score for purchase money mortgages stood in the 740s. The group noted that the average FICO score at the end of 2013 was roughly 25 points higher than scores prior to conservatorship.The FHFA’s report also found that although the Treasury’s financial support helped stabilize the two companies, they are not in “sound financial condition.””The Enterprises remain exposed to credit, counterparty and operational risks. Credit risk management remains a key priority for both Enterprises given their substantial amount of remaining legacy distressed assets and ongoing stress in certain housing markets,” FHFA said. The agency also noted a growing shift—more mortgage servicing portfolios are being transferred from banking organizations to non-depository institutions.Record keeping, legacy systems, and human capital all remain concerns for the government agency.In 2013 alone, the FHFA reported it had completed 448,000 foreclosure alternative actions in 2013, including 243,000 loan modifications. “The Enterprises remain exposed to credit, counterparty and operational risks. Credit risk management remains a key priority for both Enterprises given their substantial amount of remaining legacy distressed assets and ongoing stress in certain housing markets,” the agency’s report said.However, the FHFA believes that the Enterprises cannot remain in conservatorship permanently. The agency said that the expansion of private sector participation is essential for the long-term health of the mortgage market, with the goal of executing risk-sharing transactions on $30 billion of mortgages as having been met.The FHFA believes that, “In particular, it is critical that the Enterprises dedicate appropriate resources to maintaining safe and sound operations in the face of uncertainty regarding the long-term prospects of the Enterprises’ operations and charters.” Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Print This Post
PSUs Qualify For Exemption Granted to Govt Offices In MHA Guidelines: Delhi HC Dismisses Plea Seeking Shutting Down of PSUs During the Lockdown [Read Order]
News UpdatesPSUs Qualify For Exemption Granted to Govt Offices In MHA Guidelines: Delhi HC Dismisses Plea Seeking Shutting Down of PSUs During the Lockdown [Read Order] Karan Tripathi6 May 2020 5:16 AMShare This – xDelhi High Court has dismissed a plea seeking shutting down the offices of Public Sector Undertakings and Government Companies, which are dealing with non-essential services, till the pendency of the lockdown period. While providing purposive interpretation to the MHA Guidelines issued on April 15, the Division Bench of Chief Justice DN Patel and Justice Hari Shankar noted that…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginDelhi High Court has dismissed a plea seeking shutting down the offices of Public Sector Undertakings and Government Companies, which are dealing with non-essential services, till the pendency of the lockdown period. While providing purposive interpretation to the MHA Guidelines issued on April 15, the Division Bench of Chief Justice DN Patel and Justice Hari Shankar noted that as PSUs and government companies have a certain level of government control, they will qualify for directions laid down for partial functioning of the Government Ministries and Departments. The order has come in a PIL filed by Advocate Anil K Aggarwal seeking the following reliefs: Issuance of mandamus to Union of India to strictly enforce MHA guidelines dated April 15, and shut down offices of PSUs and Government Companies that are dealing with non-essential services Issuance of navana mandamus to the concerned Ministries/Departments to trace all the PSUs and Government Companies, which deal with non essential goods as services, which are keeping their offices open, and conduct departmental inquiry against the Heads and Board Members of these companies. Thereafter, lodge an FIR against those Heads/Board Members under section 58 of the Disaster Management Act The primary argument of the Petitioner was that the April 15 guidelines had only exempted offices of the government ministries and departments from the lockdown. Only the offices belonging to government ministries and departments are allowed to function, with officers of Deputy Secretary and above coming to offices. As per the judgments of the Supreme Court in AK Bindal v. Union of India, and Mohd Hadi Raja v. State of Bihar, the Petitioner argued, the offices of PSUs and Government Companies can’t be included in the exemptions given to Ministries/Departments, as these PSUs are not controlled by the government. Countering these claims, Mr Gudipati G Kashyap, who appeared for the PSUs, informed the court that an OM was issued by the Department of Public Enterprises, which had directed the PSUs to comply with the MHA order dated April 15. Mr Kashyap further submitted that the PSUs, such as the NBCC, were under the control of their nodal/parent Ministries – in the case of the NBCC, the Ministry of Housing and Urban Affairs – and, therefore, had to ensure 100% attendance of all officers, who were equivalent to the rank of Deputy Secretary, in the Central Government, and above. Before going into the merits of the submissions, the Bench headed by the Chief Justice highlighted that: ‘The measures, which the government authorities have, assiduously, put into place, to tackle the crisis, could not be treated as either foreseeable or predictable, in any manner. The flip side of the coin is, unfortunately, imminent economic regression, and, in national and public interest, the Government is also committed to ensuring that the economic edifice of the country does not fall to the ground. A fine, and nice, balance is, therefore, to be struck, by the executive, in safeguarding the concerns of health and economy, without compromising on either, to any extent. The clamping down, on the citizenry, of lockdown, and the simultaneous relaxation, of the rigour of the lockdown, in respect of certain offices and enterprises, is an effort at maintaining such a delicate balance.’ After this, the court observed that the very fact that the said Office Memorandum of DPE requested that PSUs be instructed to comply with the MHA Order dated 15th April, is a pointer, to some extent, to the fact that the said Order did not contemplate complete closure of all PSUs. While perusing the judgements cited by the Petitioner, the court noted that the reason for the existence of control, or the source to which such control owes its origin, is entirely irrelevant, while interpreting Clause 18 (ii) of the guidelines dated 15th April, 2020. Governmental control, over the affairs of PSUs, unquestionably exists and that, in court’s view, is enough for PSUs to regard themselves as officers under the control of the Government. The court further highlighted that it is not within the powers of the court to determine what are essential and non essential services, and use such interpretation to rewrite the guidelines issued by the MHA. The court observed that: ‘It cannot be said that there is no intelligible differentia, between the categories of economic establishments and industries, excepted, by the Guidelines dated 15th April, 2020, from the rigour of the lockdown, and other establishments run by private individuals. Neither can this Court be a signatory to any declaration that every establishments should be permitted to operate, during the currency of the COVID-19 pandemic. It is entirely within the realm of the executive, seized with the crisis and the necessity of tiding over it in the best possible manner, to take a decision regarding the establishments which may be permitted to function, and to the extent thereof. Any expression of opinion, by the judiciary, with respect thereto, is fraught with serious and debilitating consequences.’Click Here To Download Order[Read Order] Next Story
CorporateNCLT Notifies Transfer Of 3 Members With Immediate Effect [Read Notification] LIVELAW NEWS NETWORK12 May 2020 3:59 AMShare This – xThe National Company Law Tribunal on Tuesday notified the transfer of three of its Members with immediate effect. The following are the members who have been transferred: 1. HP Chaturvedi, Member (Judicial) – NCLT Ahmedabad to NCLT Mumbai 2. MB Gosavi, Member (Judicial) – NCLT Kolkata to NCLT Ahmedabad 3. Rajasekhar VK, Member (Judicial) – NCLT Mumbai to NCLT Kolkata The…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe National Company Law Tribunal on Tuesday notified the transfer of three of its Members with immediate effect. The following are the members who have been transferred: 1. HP Chaturvedi, Member (Judicial) – NCLT Ahmedabad to NCLT Mumbai 2. MB Gosavi, Member (Judicial) – NCLT Kolkata to NCLT Ahmedabad 3. Rajasekhar VK, Member (Judicial) – NCLT Mumbai to NCLT Kolkata The members are expected to move to their new stations of posting after the lockdown is lifted by the Central Government and the respective State Governments.On April 30, the NCLT had notified the transfer of 8 members.Click here to download notification Read NotificationSubscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Story
Top Stories[Breaking] CLAT 2020 Results Announced LIVELAW NEWS NETWORK5 Oct 2020 4:16 AMShare This – xThe Consortium of National Law Universities has now published the Consolidated Merit List of CLAT-2020 on the Consortium’s website. Each candidate can check the category rank and other details through their individual login ids and can download their score card. The Executive Committee in its meeting held on October 5, 2020 while approving the CLAT-2020 Result has also resolved that in order…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe Consortium of National Law Universities has now published the Consolidated Merit List of CLAT-2020 on the Consortium’s website. Each candidate can check the category rank and other details through their individual login ids and can download their score card. The Executive Committee in its meeting held on October 5, 2020 while approving the CLAT-2020 Result has also resolved that in order to give more time to the candidates to complete the process of registration for counselling, the Counselling Registration process will start at 9:00 a.m. instead of 12:00 noon on October 6, 2020. Candidates are requested to note the change in the timing and accordingly register for counselling. Further the invite for Counselling will be sent to approximately five time the number of seats in each category instead of three times as notified earlier. The list of candidates invited for Counselling will be published by 9:00 a.m. on October 6, 2020. Only the candidates whose names / admit card numbers appear in the Counselling List can participate in the counselling registration process. An invite for Counselling registration will be sent through SMS and email to the candidates. Candidates who do not complete the counselling registration process will not be considered for allotment of seat. Candidates are requested to go through the Counselling Guidelines notified on the Consortium website and also regularly check the website for updates. The schedule notified by the Consortium should be strictly adhered to. No extension of time for any of the processes will be granted by the Consortium and also by the NLUs.Next Story