Salmonfest Turning The Tide On Music Scene

first_imgAnother of many Alaska great bands, Hope Social Club takes the stage twice throughout the weekend. Salmonfest is supported by and benefits several non-profit organizations on the Kenai Peninsula and in the State of Alaska. Two prominent supportors are the Kachemak Bay Conservation Soceity and Cook Inletkeeper. Both are longstanding Homer-based non profit organizations that seek to educate the public, and both protect and promote Alaska’s fish-filled waters. Facebook0TwitterEmailPrintFriendly分享Salmonfest kicks off it’s three day event this weekend to emphasize and celebrate the connection of all Alaskans to the fish and the waters that “provide this magnificent resource”. On Saturday music begins at 11:15am and later Alaska’s Blackwater Railroad Co. takes the stage at 7:10PM followed by The California Honeydrops before headliner and Grammy Award winner Jason Mraz begins at 10:15pm. In addition, ARCHES Alaska and the Kenai Peninsula Fair Association have teamed up to help make Salmonfest a successful event. View the entire lineup of entertainment at Salmonfestalaska.org. Friday’s headliner and Grammy winner Ani DiFranco hits the Ocean Stage at 9:15pm followed by WookieFoot. Music opens at 12:30pm with Food For The Soul along with the Rainbow Girls first appearance in Alaska playing twice over the weekend, just to name a few of the many great bands.last_img read more

Wilmington Photographer Paul Oliver Attends Imaging USA Conference

first_imgWILMINGTON, MA — Paul Oliver, of Paul Oliver Photography in Wilmington, expanded his skills by attending Imaging USA, the premier professional photography conference in the United States. He joined thousands of industry professionals attending this event January 20-22, 2019 in Atlanta, Georgia at the Georgia World Congress Center.“This was my third time attending Imaging USA,” says Oliver. “It was another exceptional experience. I participated in programs covering Business Marketing, Social Media Strategies, Lighting, Drones & Mirrorless Camera Technology and Photography Techniques, volunteered at the convention, attended the trade show, photographed the Atlanta Skyline, Centennial Olympic Park, and some models in downtown Atlanta. I learned from the best of the best in the professional photography industry. This conference offers a wide range of networking opportunities.”Oliver hopes to attend next year’s Imaging USA in Nashville, Tennessee.“Over the years, we have attended many conventions, but the highlight of each year was and still is attending Imaging USA,” adds former PPA Chairman Michael Timmons, M.Photog.M.Artist.Cr., CPP, F- ASP. “The education everyone has access to here is nearly unlimited, from speaker after speaker presenting their messages, to when friends come together and share.”Imaging USA is the longest-running international photography convention, tradeshow and image exhibition in the world. The event dates back to 1869, when PPA began organizing its annual convention and tradeshow, ran by professional photographers for professional photographers.More than 10,000 photography enthusiasts descended upon Atlanta for three days of photography education and inspiration as well as some exclusive photography-related shopping.Highlights of this year’s event included the three-day Imaging Expo trade show, featuring more than 600 booths, giving photographers the opportunity to demo and purchase the latest products at deeply discounted and tradeshow-only prices. The event also hosted more than 100 speeches, presentations and hands-on demonstrations by some of the most respected names in the industry. Photographers also found mentoring opportunities, portfolio reviews and 10,000+ photographers to network with and create career-spanning relationships—a real bonus for photographers, who typically work for themselves.The photography learning and networking extravaganza helps photographers like Paul Oliver become better photographers and businesspeople, allowing them to better serve their clients in the process. For more information on Imaging USA, visit ImagingUSA.org.To learn about booking your next photography session with Paul Oliver Photography, visit http://www.pauloliverphotography.com or on Instagram @PauliverPhoto.About PPAProfessional Photographers of America (PPA) is the largest international nonprofit association created by professional photographers, for professional photographers. Almost as long-lived as photography itself, PPA’s roots date back to 1869. It assists 30,000 members through protection, education and resources for their continued success. See how PPA helps photographers be more at PPA.com.Skyline of Atlanta, Georgia (photo taken by Paul Oliver)(NOTE: The above press release is from Paul Oliver Photography. Cover photo of Oliver was taken by Seth Dixon.)Like Wilmington Apple on Facebook. Follow Wilmington Apple on Twitter. Follow Wilmington Apple on Instagram. Subscribe to Wilmington Apple’s daily email newsletter HERE. Got a comment, question, photo, press release, or news tip? Email wilmingtonapple@gmail.com.Share this:TwitterFacebookLike this:Like Loading… RelatedWilmington Photographer Attends International Photography ConventionIn “Business”Wilmington Photographer Attends International Photographic ConventionIn “Business”Wilmington’s Paul Oliver Attends Prestigious New England Institute of Professional PhotographyIn “Business”last_img read more

Goa Food Regulator Finds Maggi Noodles Safe to Eat FSSAI Embarrassed

first_imgThe Goa Food and Drugs Administration (FDA) has found Maggi noodles safe to eat, contradicting the ban imposed on the noodle brand by the country’s food regulator, the Food Safety & Standards Authority of India (FSSAI).On 5 June, FSSAI had ordered Nestle India to recall all available stocks of Maggi noodles after finding harmful levels of lead and monosodium glutamate (MSG) in tested samples.Earlier, in June, the Goa FDA had sent five samples of Maggi noodles to Mysuru’s Central Food Technological Research Institute (CFTRI) for re-testing, after the FSSAI said that the state regulator’s findings were ‘questionable’.CFTRI, an institute approved by the FSSAI, has now found that the samples sent by the Goa food regulator did not contain lead above the permissible levels. The institute also did not find any trace of MSG.”The lead content in all these five samples has been reported to be well below the permissible limit and the level of monosodium glutamate, or MSG, is negative when analysis was performed separately on the noodles and tastemaker by the Mysuru lab,” an official with the Goa FDA, told Business Standard.”The lab authorities could not speak on the matter as it was sub-judice,” said a CFTRI official, requesting anonymity.Nestle India has challenged the FSSAI ban on Maggi noodles in the Bombay High Court. Last week, the court had asked Nestle India and the FSSAI to retest Maggi samples, raising hopes of some relief for the noodle maker.The Goa FDA seems to be the only state agency in the country to test the Maggi samples for the third time, to substantiate its findings.”We are complying with the recall order of FSSAI. But we have sent the samples to Mysuru for counter-verification. This is only to reinforce our (Goa) lab’s credibility,” Salim A Veljee, director, Goa FDA, had said.After testing the samples at its lab, the Goa FDA had got them re-tested at the state pollution control board, to ensure that its findings are credible. At both the stages, the Goa food regulator did not find higher levels of lead in the instant noodle.But in the findings sent to the FSSAI, the Goa agency did not inform about the exact levels of lead it found in the samples, as the chemical content remained well below the permissible limits, said Veljee. The FSSAI termed the Goa test results ‘questionable’ for failing to mention the lead content in the samples.Maggi noodles have been declared as safe to eat in many countries such as Singapore, the UK, and Canada, in sharp contrast to the FSSAI’s findings as “hazardous for human consumption.”last_img read more

Infosys ceases using bell curve to evaluate employees performance attrition falling

first_imgJust as other IT majors who abandoned old-fashioned employee appraisal systems, India’s second largest software firm Infosys has finally stopped using the bell curve, a tool used to evaluate its 1.76 lakh employees’ performance.The move is already showing some positive impact and the company’s attrition rate is projected to come down to 13% during the July-September quarter. Infosys reported an attrition level of 20% during the same quarter last year.”From this quarter, we have removed the forced ranking and in the October appraisal, employees will be appraised on the open ranking. From now on, the managers will take a call and reward,” Richard Lobo, senior vice president, human resources department, at Infosys, told The Economic Times.”Attrition is now close to 13 per cent. One of the big reasons for this (attrition) to come down is because we consciously got rid of the bell curve,” Lobo said. “The new system will be more open and flexible with a pronounced focus on rewards for performance.”By ceasing to use the bell curve, Infosys joins a list of global IT companies that moved away from the appraisal system, which is “often criticised as a forced ranking system.”Under the system, managers are compelled to separate the employees into three categories and “rank the performance of 70% as average, 20% as high and 10%, low.””In performance evaluation based on bell curve, it became a race to get to the top for employees. We were losing a lot of good people who were not ranked at the top,” Lobo said.In a similar move, global software giant Accenture had said in July that it would abandon annual performance evaluation and also dump the ranking system for its employees.Accenture laid out plans to put in place a “more fluid system,” which would enable its employees to get “timely feedback” from their superiors on a continuous basis after an assignment is completed.Infosys’ latest move to discontinue using the bell curve is a part of CEO Vishal Sikka’s initiatives to reduce attrition levels and improve employee productivity. Taking charge as the chief of Infosys in August last year, Sikka has brought many changes for ‘Infoscions’, including doing away with the formal dress code.last_img read more

Nipah outbreak hits Kerala again authorities open isolation wards in Kochi hospital

first_imgReutersIn 2018, the entire state of Kerala was in a state of panic as the Nipah virus claimed the lives of 17 people. And now, on June 03, 2019, health authorities in Kerala have hinted at a possible Nipah outbreak. As per reports, authorities have sent the blood sample of the suspected patient to the Pune virology institute, and the entire state is waiting to know whether the dreaded virus has made its way to Kerala. K K Shailaja, Kerala health minister, revealed that the suspected patient has shown signs of Nipah. However, she made it clear that the confirmation will be made only after the blood test. Shailaja also urged people to stay calm and revealed that the state is taking all necessary measures to ensure the safety of citizens.”It is not yet confirmed. But, the suspect patient has shown signs of Nipah. If anyone starts suffering from fever and severe cough, do not try to hide it, you should immediately seek medical advice. We have experience in handling emergency situations. Last year, we had a tough time, but this year, we will ensure that no one will die due to this virus,” said Shailaja. The District Medical Officer urged people not to panic and added that everything is under control now. The DMO also revealed that the place of origin of the current Nipah outbreak was not Ernakulam district.As a precautionary measure, the health ministry has ordered to open five isolation wards in Kalamassery Medical College, Cochin. The health ministry has also apparently asked health professionals in both government and private sectors to stay alert.As per the latest updates, a team of doctors and nurses who handled last year’s Nipah outbreak has already started their journey to Cochin. This team led by Dr. Chandini will work with experts in Cochin to formulate an effective treatment plan.last_img read more

Market capitalisation of Tata companies at 127 billion

first_imgA man looks at a screen displaying news of markets update inside the Bombay Stock Exchange (BSE) building in Mumbai, June 20, 2016.Reuters fileThe combined market capitalisation of the listed companies of the Tata Group stood at $127.62 billion, or Rs 8,12,877 crore, as of April 27, 2017, based on the closing share prices of the respective companies. The top three listed entities are TCS, Tata Motors and Tata Steel.There are 17 listed entities that include lifestyle company Titan; hospitality venture Indian Hotels Co.; air-conditioner maker Voltas; retail company Trent; telecom ventures Tata Communications and Tata Teleservices (Maharashtra), and non-alcoholic beverages maker Tata Global Beverages, in addition to the three referred above.TCS had market capitalisation of Rs 4,53,474 crore ($70.69 billion), Tata Motors Rs 1,31,649 crore ($20.52 billion) and Tata Steel Rs 43,292 crore ($6.75 billion). On Friday (April 27), TCS shares closed 1.27 percent lower at Rs 2,272, Tata Motors gained 0.41 percent at Rs 458 and Tata Steel ended at Rs 449, up 0.70 percent. The BSE Sensex closed 111 points down at 29,918 on Friday.The April 27 valuation mark a significant fall from $130.80 billion (Rs 8,44,314 crore) as of April 6, 2017.TCS has declared its Q4 and FY2017 results while most of the other companies are yet to do so. Tata Motors will be declaring its April vehicle sales next Monday/Tuesday.The Tata Group comprises more than 100 companies operating in about 100 countries. In 2015-16, the combined revenue of the Tata Group was $103.51 billion.  Market capitalisation of Tata Group.tata.comlast_img read more

Air India divestment More positives than negatives to a Maharajas selloff

first_imgAUTUMN OF THE PATRIARCH: The government should expedite Air India’s sale by increasing the higher FDI component for foreign buyers who can employ the right professional expertise and marketing know-how to turn around the beleaguered airline.Creative CommonsBad mergers create bad blood – in the skies and on the ground. When the government merged India’s two state-owned airlines in 2007, Air India and domestic carrier Indian Airlines, the combined entity would soon grow into a megalith symbolising all the shortcomings of India’s public sector.In just a generation, competition from the private sector, rising fuel costs as a percentage of operational expenditure, strikes by opposing factions of pilots, freebies and upgrades to politicians and bureaucrats, and huge discounting would move the Maharaja from monopolising air travel to being only India’s third largest airline with a 11.8 percent market share.But the literal bottomline here is: Air India has lost money almost every year since its merger despite the UPA II government infusing Rs 30,000 crore into Air India under a financial restructuring plan (FRP). Total equity infused in the airline thus far is Rs 22,280 crore. Banks currently have an exposure of about Rs 53,980 crore.A diverting fact is that state-owned Air India utilised government bailouts while launching price wars with other airlines as part of its survival requirements, leading to the logical conclusion that the government was helping subsidise monopolistic behaviour.Another FRP by the present BJP dispensation to infuse Rs 42,182 crore as additional equity over 22 years has been delayed as the airline grapples with the problem of handling over Rs 50,000 crore in debt, of which an estimated Rs 23,000 crore is by way of aircraft loan advances. It is a no-win situation exacerbated by the airline’s asset deterioration down the years and its inability to even control its operating losses since 2011.Last year, for the first time in about a decade, Air India managed to post Rs 105 crore in operating profit (net loss after tax in 2016 — Rs 3,836.77 crore) on the back of fresh capital infusion from the government and lower ATF prices. But was the intangible benefits of holding on to a 13 percent market share worth splattering more red ink on a battered balance-sheet? The government didn’t think so. Its decision to divest the national carrier spoke of the triumph of experience over, often unrealistic, hope.Dreams Un-linedThe national career was a symbol of public sector ingenuity and operational inventiveness down the decades till its much- ballyhooed merger with Indian Airlines. Then, the losses started piling up with fresh competition from the private sector on key sectors within India. Even Vijay Mallya’s doomed Kingfisher took valuable market share away from Air India. Middle East carriers like Emirates, Gulf Air and Qatar Airways gained top-of-the-mind recall for expatriate travellers to destinations like Dubai, Abu Dhabi, Riyadh, Jeddah and Muscat.For a government long in denial about the dismal picture which Air India presented, the benefits of disinvesting the airline in a single swoop are far more than taking a piecemeal approach as recommended by critics who suggest that it retain 51 percent in the asset-heavy airline. Air India owns prime land in cities like Mumbai, Chennai and Kolkata, the sale of which, disinvestment supporters expect will vault the airline out of troubled times. But this asset class, going by the airline’s own assessment, would yield only Rs 10,000 crore which is not a scratch on its huge debt burden. Raghavendra NThe Dreamliner aircraft and its entitled pilot crews have remained a thorn in the airline’s flesh to this day. Pilot strikes and mutinies since 2012 and largescale operational mismanagement took the airlines to a new low. The airline incurred operational losses of Rs 5,537 crore in 2012 (or Rs 15 crore every day). Subsequent years were not too different, though going by the government’s claims, Air India was actually paring down its losses fiscal after fiscal.Minister of State for Civil Aviation Jayant Sinha had exuded confidence about the airline’s performance since last year, and earlier this year, asserted that it would show operating profits of Rs 300 crore in 2016-17, and the government had no plans to privatise the airline – till the latter poured cold water over his enthusiasm by announcing that a disinvestment program to sell the airline and recover its losses would soon be underway.The Comptroller & Auditor General (CAG) made things stickier when it said that the airline had actually posted operating losses of Rs 321.40 crore in the April-June period of 2015-16, when the government had claimed a profit.But Air India said that its operational performance targets were in line with the turnaround plan. A spokesperson said that “considerable improvement” in on-time performance at 78.2 percent was achieved in 2015-16 as compared to 68.2 percent in 2011-12. The available evidence didn’t justify the airline’s claims.Taking the debt-free roadThe logical answer to Air India’s problems is privatisation — but politicians and bureaucrats, who misuse India’s flag carrier as much as its employees do –, would baulk at such a move. Air India has been surviving on the Rs 30,000-crore bailout package put together by UPA-II in 2012 to help its turnaround, as well as debt relief provided by public sector banks. It is estimated that even a well executed asset sale may not fully cover the airline’s liabilities, and taxpayers cannot escape footing part of the loss — either directly in case the government pays off the airline’s creditors, or indirectly if the public sector banks write off their loans to the airline.The three options on the table could be a full 100 percent selloff, a 74 percent stake sale or retaining a 49 percent share in the airline, as per a tentative note from the Department of Investment and Public Asset Management (DIPAM). Raghavendra NThe decision to form an Air India-specific Alternative Mechanism to take forward the disinvestment plan is timely. But this Mechanism should first shed clarity on how the eventual sale will be executed — whether the airline will be fully privatised or hived off asset-wise to interested bidders like IndiGo, which has expressed interest in buying out the carrier’s international operations and peak hour landing slots in airports like London and New York. These slots if sold should fetch the government at least Rs 3,000 crore.A sale of market slots in airports like Delhi and Mumbai would be attractive to foreign airlines to invest in India, though the government’s stakeholding and quantum of divestment will come under their scrutiny before entering the bidding fray. Experts have suggested that the value of the heritage Air India brand can’t be overlooked either, when even Kingfisher’s hostile lenders valued that brand at Rs 160 crore.If both foreign and prospective domestic buyers like Indigo, are allowed to bid freely for the airline, more value could be realised from a sale. There have been suggestions to add more value to the airline’s assets by hiving off non-core assets with high profit potential into a shell company and demerger and strategic disinvestment of profit-making subsidiaries. This make sense only if the government considers making key changes in its FDI policy to allow foreign investors to buy a more substantial stake in Air India. If it is possible to invest 74 percent FDI in telecom, then why not in aviation?The highly rated Tata-Air Asia Berhad JV which saw Air Asia grabbing a foothold in the huge Indian market, has still not fulfilled its initial promise. Going by the record, almost all airlines that have lost money have only themselves to blame. Their painpoints include inefficient operations, aggressive expansion without consolidation, balance-sheets which are leveraged unduly high, improper route planning and wrong pricing of tickets. These factors have contributed more to the downfall of many an airline meeting its Waterloo in the Indian aviation market, rather than the market itself — which is growing and has many milestones ahead of it. Carriers like IndiGo have excelled in the same market. Stabilising Air India will be an important step ahead for Indian aviation. For a start, in the event of a successful sale, the government and its ministries must start seeing Air India as a revenue source and not a revenue generator.last_img read more

BJP set to sweep Delhi civic polls

first_imgThe BJP was on Wednesday set to sweep the Delhi civic polls, leading in over 140 wards and has won six wards so far, according to the Delhi State Election Commission.The Aam Aadmi Party, was at second spot, leading in 40 wards and has won one ward so far.The Congress was at third spot, and was leading in 28 wards.In the East Delhi Municipal Corporation, the BJP has won two wards — Ramnagar and Krishnanagar.In the South Delhi Municipal Corporation, the BJP has won three wards — Janakpuri West, Janakpuri South and Vishnu Garden.In North Delhi Municipal Corporation, the BJP has won Rajinder Nagar.The AAP has won Shakurpur in North Delhi Municipal Corporation.last_img

Dutch concert cancelled for terror threat

first_imgA van with a Spanish numberplate near the concert venue Maassilo is seen during police investigations after a rock concert was cancelled due to a terror threat, in Rotterdam, The Netherlands. Photo: AFPDutch police are investigating possible terror links after arresting a Spaniard driving a van containing gas canisters close to a rock concert which was abruptly cancelled over fears of an attack.The man “was arrested and taken to the police station,” Rotterdam police said in a Tweet, following a tip-off from Spanish authorities.The arrest came little under a week after twin car-bomb attacks in Spain killed 15 people, in attacks claimed by the Islamic State group.Dutch bomb squad officials “were investigating the van” which was found just two streets away from the Maassilo concert hall where an American rock band was due to play, they added.Earlier in the evening Dutch authorities decided to cancel the concert by Californian group Allah-Las in Europe’s largest port city after a tip-off from Spanish police around 5:30pm (1530 GMT) about a possible terror attack.“In the early evening I was warned by telephone that we had received a threat which had implications for an American concert at the Maassilo in Rotterdam,” the city’s mayor, Ahmed Aboutaleb, told a hastily-called press conference.“This signal came from the Spanish police to the Dutch police,” he added.But Aboutaleb, the country’s first Muslim and immigrant-born mayor who has spoken out against Islamic terror groups, added an investigation was under way and “we cannot say now if the van with the canisters was linked to the threat”.The four-piece band, from Los Angeles, had been escorted from the concert hall by police wearing bullet-proof vests.In a statement sent to AFP, they said they were “unharmed and are very grateful to the Rotterdam police and other responsible agencies for detecting the potential threat before anyone was hurt.”Rotterdam police said that afterwards an officer “stationed close to the venue decided to stop a van that he saw driving at around 21:30 hrs”.“The van had Spanish plates and was driven by a Spanish national. Inside the van were a couple of gas bottles. Whether there is a link with the terror threat is being looked into,” the statement in English said, adding “the driver was taken into custody”.Concert hall evacuatedThe international connections of the cell of mostly Moroccan nationals behind the Spanish attacks are being probed as investigators retrace their movements to France and Belgium.Spanish police carried out new raids overnight Tuesday to Wednesday after vehicles ploughed into pedestrians on Barcelona’s busy Las Ramblas boulevard and a seaside promenade in the resort town of Cambrils.Fifteen people were killed and more than 120 others were wounded.Spanish court documents have shown that at least 500 litres of acetone, large quantities of nails and detonators as well as gas canisters were found in raids on a house in the town of Alcanar, south of Barcelona.The Rotterdam building where Wednesday’s concert was to be held, which can hold about 1,000 people, was searched by the Dutch anti-terror squad after the crowd had been evacuated.The Netherlands has so far been spared from the slew of terror attacks which have rocked its closest European neighbours in past years.But amid a number of scares here in recent months, and reports that people linked to some of the attacks may have crossed briefly into the country, concerned top Dutch security and intelligence officials have been keeping a wary eye on events.A spokesman for the Dutch justice ministry told AFP the threat level in The Netherlands remained at “four” out of a possible five.“Nothing has changed for the moment,” Lodewijk Hekking said, meaning the threat levels remains that there is the real possibility of an attack in the Netherlands.last_img read more

Unmarked buildings quiet legal help for accused priests

first_img Share This! Instagram apostasy stirs controversy over Christian ‘influencers’ August 30, 2019 Facebook Twitter Pinterest LinkedIn ReddIt Email,DRYDEN, Mich. (AP) — The visiting priests arrived discreetly, day and night.Stripped of their collars and cassocks, they went unnoticed in this tiny Midwestern town as they were escorted into a dingy warehouse across from an elementary school playground. Neighbors had no idea some of the dressed-down clergymen dining at local restaurants might have been accused sexual predators.They had been brought to town by a small, nonprofit group called Opus Bono Sacerdotii. For nearly two decades, the group has operated out of a series of unmarked buildings in rural Michigan, providing money, shelter, transport, legal help and other support to hundreds, perhaps thousands, of Catholic priests accused of sexual abuse across the country.Again and again, Opus Bono has served as a rapid-response team for the accused.When a serial pedophile was sent to jail for abusing dozens of minors, Opus Bono was there for him, with regular visits and commissary cash.When a priest admitted sexually assaulting boys under 14, Opus Bono raised funds for his defense.When another priest was criminally charged with abusing a teen, Opus Bono later made him a legal adviser.Informational pamphlets for Opus Bono Sacerdotii are displayed with others at The Assumption of the Blessed Virgin Mary Church in Detroit, on June 7, 2019. For nearly two decades, the small nonprofit organization called Opus Bono Sacerdotii, operating out of a series of unmarked buildings in rural Michigan, has provided money, shelter, transport, legal help and other support to priests accused of sexual abuse. (AP Photo/Paul Sancya)And while powerful clerics have publicly pledged to hold the church accountable for the crimes of its clergy and help survivors heal, some of them arranged meetings, offered blessings or quietly sent checks to this organization that provided support to alleged abusers, The Associated Press has found.Though Catholic leaders deny the church has any official relationship with the group, Opus Bono successfully forged networks reaching all the way to the Vatican.The AP unraveled the continuing story of Opus Bono in dozens of interviews with experts, lawyers, clergy members and former employees, along with hundreds of pages of documents obtained through Freedom of Information requests.In recent months, two of the group’s founders were forced out after Michigan’s attorney general found that Opus Bono had misused donated funds and misled contributors. A third co-founder, a priest, was abruptly removed from ministry earlier this month after the AP began asking about an allegation that he had sexually abused a child decades ago.Still, since 2002, Opus Bono has played a little-known role among conservative Catholic groups that portray the abuse scandal as a media and legal feeding frenzy. These groups contend the scandal maligns the priesthood and harms the Catholic faith.Opus Bono established itself as a counterpoint to the Survivors Network of those Abused by Priests and other groups that have accused the church of trying to cover up the scandal and failing to support victims of clergy misconduct. Opus Bono focuses on what it considers the neglected victims: priests, and the church itself.“All of these people that have made allegations are very well taken care of,” Opus Bono co-founder Joe Maher said in a radio interview, contending that many abuse accusations lodged against priests are false. “The priests are not at all very well taken care of.”___Opus Bono’s roots reach back almost two decades to a sex abuse scandal that convulsed The Assumption of the Blessed Virgin Mary Church, a grand stone structure set amid Detroit’s crumbling brick blight.For 25 years, the Rev. Eduard Perrone presided there. Inside the church, commonly known as Assumption Grotto, glossy Opus Bono brochures tout the pastor’s role as the group’s co-founder and spiritual lifeblood. Stern and imposing, the 70-year-old Perrone is a staunch conservative; he refused to marry couples, for example, if he thought the bride’s dress was too revealing.In this June 9, 2019, file photo, the Rev. Eduard Perrone conducts a choir during a Mass at The Assumption of the Blessed Virgin Mary Church in Detroit. Perrone was a co-founder of a small nonprofit organization called Opus Bono Sacerdotii, which has provided money, shelter, transport, legal help and other support to priests accused of sexual abuse. (AP Photo/Paul Sancya)Earlier this month, his parishioners were shocked when Perrone was removed from ministry after a church review board decided there was a “semblance of truth” to allegations that he abused a child decades ago. Perrone told the AP that he “never would have done such a thing.”In the years before Perrone helped start Opus Bono, he and Assumption Grotto took in at least two priests who had been accused of sexual misconduct at dioceses in other states. One of them later admitted to molesting as many as 50 children in the 1980s and ’90s, according to court documents in Texas.In 1999, Perrone welcomed the other priest — a West African clergyman named Komlan Dem Houndjame — to come work at Assumption Grotto. Two years later, Detroit Archdiocese officials say, they asked Houndjame to return to his home country, Togo, after learning of accusations of sexual misconduct against him in Detroit and at an earlier posting in Florida.Instead he went to a treatment facility in St. Louis.In 2002, Detroit police charged him with sexually assaulting a member of Assumption Grotto’s choir.This undated photo, provided by Mary Rose Maher in 2019, shows her as a child standing with the Rev. Komlan Dem Houndjame at The Assumption of the Blessed Virgin Mary Church in Detroit. Detroit Archdiocese officials said that two years after he arrived at The Assumption of the Blessed Virgin Mary Church in 1999,  they asked Houndjame to return to his home country, Togo, after learning of accusations of sexual misconduct against him in Detroit and at an earlier posting in Florida. Instead he went to a treatment facility in St. Louis. In 2002, Detroit police arrested him and charged him with sexually assaulting a member of the church’s choir. (Courtesy Mary Rose Maher via AP)The 48-year-old parishioner who accused Houndjame of rape said Perrone’s response was to protect the church, testifying in court that he told her, “Just walk by him and ignore him.”Perrone responded to the charges against Houndjame by asking the congregation to support the priest in his time of crisis.Joe Maher was among those who were moved by Perrone’s plea for help.Maher grew up Catholic in the Midwest, then headed to California, where, he said in a podcast, he found work producing live entertainment for Hollywood award shows and other events. “I had access to all the studios,” Maher said. He told a radio interviewer he found his faith again in California before moving his family back to Michigan.Maher led the effort to support Houndjame, serving as media spokesman for the accused priest during the case. Maher even brought the priest home to live with his family, according to his daughter Mary Rose, who was about 10 at the time.In court files, the AP found two other women at Assumption Grotto also had told police about sexual misconduct by Houndjame. But their testimony was never heard in court.When the case went to trial, “it was essentially her word against the priest,” said then-prosecutor Maria Miller. Houndjame was acquitted and moved to Las Vegas. He told the AP that Perrone had been “a real friend.”Joe Maher, meanwhile, was inundated with calls from other desperate priests, begging for help.Out of those pleas, Opus Bono was launched.Around the clock, the organization’s main number rang through to Maher’s cellphone. Maher and fellow co-founder Peter Ferrara, who had worked in accounting, would mobilize, picking priests up in person or buying them plane tickets, then moving them into a hotel, an apartment or one of several “halfway houses.”“We’re on our way to help a priest in need, in the Midwest, so it’s going to be a long trip and not much sleep and it could be potentially a dangerous situation,” Maher said in a homemade video posted on Opus Bono’s Facebook page. He didn’t explain why the mission might be dangerous.___Opus Bono’s client list is confidential, but its promotional brochures say it has helped over 8,000 priests. The Michigan attorney general estimates the real number is closer to 1,000.One of those was Rev. Gregory Ingels, a well-known priest in San Francisco’s archdiocese who was charged in 2003 with abusing a 15-year-old boy in the 1970s. The criminal charges were dismissed after California’s extended statute of limitations was ruled unconstitutional, but the archdiocese later settled a lawsuit filed by another Ingels accuser.Opus Bono made Ingels one of its advisers on canon, or church, law. When reached by the AP, Ingels said the allegations against him were false and said his involvement with Opus Bono was minimal.“With Opus Bono, I only answered canon law questions that they had before I hit retirement age,” he said.The group also provided support to Jason Sigler, a former Detroit priest convicted of molesting dozens of children in New Mexico and Michigan.In a lawsuit, one former altar boy said Sigler forced him into “hundreds of sexual abuse events, each a violation of criminal sexual penetration laws.”Maher visited Sigler in prison regularly, funded his commissary account and took his calls, said Mary Rose Maher. She also says her father introduced her to Sigler before and after he was sentenced to prison, and put her on the phone with him while he was behind bars.“I really didn’t know who Jason was. I had only met him once and I didn’t understand why I had to speak to a priest in prison,” she said.Mary Rose Maher, the daughter of Opus Bono Sacerdotii co-founder Joe Maher, visits a former Opus Bono location in Oxford, Mich., on June 5, 2019. In a February 2017 letter to the state attorney general, she wrote, “A simple investigation into the Michigan non-profit charity Opus Bono Sacerdotii would bring to light the millions of embezzled dollars, years of mail fraud, and the constant systemic abuse of donations.” (AP Photo/Paul Sancya)She told the AP that while she was still a teenager, she and her homeschooled friends began working for her father’s organization — and often spent time with men who were accused of abuse. Sometimes Mary Rose, her father and other employees would meet with accused priests, drive them around town and take them to lunch, she said.Opus Bono also hired accused priest Dennis Druggan, who headed a Catholic seminary high school in Wisconsin for more than a decade. Druggan was put on administrative leave in July 2012 after allegations surfaced that he had engaged in sexual misconduct with a minor at a Catholic high school for Native American teens in Montana in the 1980s.Druggan was later removed from public ministry, according to a 2013 audit of the Capuchin province where he served, and is no longer a member of the order, said the province spokesman Tim Hinkle.Instead, Druggan went to work for Opus Bono, according to employment records the group turned over to Michigan’s attorney general.Druggan occasionally visited Opus Bono’s office to say Mass or conduct other business, according to Mary Rose Maher. She recalls sitting at his side for lessons on fundraising.When contacted by the AP, Druggan said he no longer works for Opus Bono and declined further comment.Another former priest, Robert Kealy, was sent by church officials in Chicago to Opus Bono for “monitoring/therapy” in 2003 after admitting he abused teens. The group described him as an adviser on church law.The exterior of a former location for Opus Bono Sacerdotii is shown in Dryden, Mich., on June 6, 2019. For nearly two decades, the group has operated out of a series of unmarked buildings in rural Michigan, providing money, shelter, transport, legal help and other support to Catholic priests accused of sexual abuse across the country. (AP Photo/Paul Sancya)Earlier, Kealy himself had helped handle sex-abuse cases for the church. Now his out-of-town trips had to be approved by the Chicago Archdiocese, and documents show they outsourced his monitoring to Maher, who was listed as his “Therapist, Spiritual Leader, Doctor, Monitor,” even though there is no indication Maher is a licensed therapist.Kealy also attended a conference Opus Bono put on in Detroit, monitored by Monsignor William Varvaro, a former president of the Canon Law Society of America and an early Opus Bono adviser, records show.Kealy did not respond to requests for comment. Varvaro died in 2007.___From the very beginning, the group won backing from influential members of the Roman Catholic hierarchy who were eager to advocate for the rights of accused priests.In 2002, Maher sent a news article about Opus Bono to Father Richard John Neuhaus, the editor of a conservative Catholic journal who served as an unofficial adviser to President George W. Bush. “Some priests have suggested I write to you and let you know what we’re doing,” Maher told Neuhaus.“More power to you!” Neuhaus replied in a letter the AP located in archives at the Catholic University of America. “The demand that a person ‘must be punished,’ no matter how long ago the offense or the repentance and transformation of the offender is nothing more than a demand for vengeance.”Neuhaus introduced Maher to his friend Cardinal Avery Dulles, the son of John Foster Dulles, the former U.S. Secretary of State. Dulles was a pre-eminent conservative Catholic theologian in his two decades at Fordham University.Both men became Opus Bono’s theological advisers. Correspondence shows they forged critical connections for Maher in Rome with at least three powerful Vatican officials. Photographs of American cardinals Raymond Burke and Edmund Szoka were displayed in the group’s promotional materials, along with pictures of other high-ranking church officials who paid calls to the group’s Michigan headquarters. Others sent donations.Cardinal Edwin O’Brien, the former archbishop of Baltimore and now a Vatican official, said he occasionally sent money to Opus Bono over the years but has not done so in at least a year. He said he never met Maher, Ferrara or other founding members and never visited Michigan.“I saw some charity being done and wanted to encourage them. They were very appreciative,” O’Brien said, but added that the next time the group reaches out, he will ask that his photo be removed from its Facebook page.Vatican spokesman Alessandro Gisotti said the only contact between the Vatican and the U.S. group that he was aware of was the receipt of some promotional materials from Opus Bono years ago. He was not aware of a response.Don Hanchon, an auxiliary bishop in Detroit, said he was surprised his images were featured on the group’s website and in brochures. Hanchon told the AP he might have sent in a donation, but the photograph “seems like I’m a big supporter, and that’s just not the truth.”Szoka died in 2014 and Burke could not be reached for comment.The Rev. Eduard Perrone talks to a reporter in Warren, Mich., on June 7, 2019. In July 2019, Detroit’s Catholic archdiocese removed Perrone, one of Opus Bono Sacerdotii’s co-founders, from public ministry after a church review board decided there was a “semblance of truth” to allegations that he abused a child decades ago.  Perrone told the AP that he “never would have done such a thing.” (AP Photo/Paul Sancya)Perrone told an interviewer in 2013 that Opus Bono’s relationship with the Roman Catholic Church was deliberately arms-length.“The church benefits from what we’re doing but it doesn’t give it the support,” he said. “The whole point of this is to be a counterpoint to a movement which is also outside the church, a movement of dissent and against the priesthood.”But the group also presented itself as deeply entwined with the church, right down to its name, which means “work for the good of the priesthood.”“Use of the Latin, which is the official language of the Church, helps to identify OBS with the Catholic Church in Rome and the Papacy,” the group’s founding documents note.In addition to courting religious leaders, Opus Bono also has benefited from connections to wealthy U.S. Catholics.A radio network founded by Tom Monaghan, a billionaire Domino’s Pizza founder who later advised President Donald Trump’s 2016 campaign, interviewed Maher and Perrone and promoted Opus Bono’s work, according to archived Ave Maria Radio recordings.Monaghan’s Ave Maria Foundation also sponsored a community talk Maher gave at a Detroit hotel, according to the recordings. And a former chaplain at Florida-based Ave Maria School of Law, which Monaghan founded and on whose board he serves, was listed as an Opus Bono adviser on the group’s website.A spokesman for Monaghan declined to comment on Opus Bono. Joe Maher has said that Monaghan never made any direct donations to the group.___In their four locations over 17 years — three of them in towns in rural Michigan — the group didn’t post signs.In 2005, in Oxford, Michigan, Opus Bono retrofitted one side of an old metal-casting facility adjacent to a high school for its headquarters. At noon, metal workers would halt their noisy work to let Opus Bono staffers observe Mass and sometimes join in prayer, two former employees of the group said.The group’s next move, in 2014, was 20 miles away to the village of Dryden. Local officials were puzzled when they heard Maher and Ferrara wanted to set up a Hollywood-style production studio in a dilapidated warehouse off Main Street — again facing an elementary school playground.Nothing was mentioned about priests.“They were very tight-lipped and never talked about anything having to do with priests,” said Gyrome Edwards, a building and zoning official in Dryden. “They were just trying to go unseen.”Each week inside the warehouse, office workers mailed out appeals to potential donors in envelopes featuring pictures of the pope. The letters inside, as well as postings on the group’s website, included testimonials describing the purported experiences of priests who’d faced desperate crises, including false accusations of sexual abuse.One testimonial from May 2018, for example, claimed that a “Father David” had been stalked by a mentally unbalanced parishioner who had accused him of sexual misconduct after he turned down her offers of gifts and money.“Even when a priest has done absolutely nothing wrong,” the testimonial asserted, “the Church will sometimes go to the nth degree, including subjecting some priests to unwarranted psychological trauma, and a very long wait to return to active ministry, all to appease a terribly aggressive accuser.”The testimonials, however, were misleading, an investigation by Michigan’s attorney general found. Opus Bono’s lawyers conceded to state investigators that Maher had concocted them by stitching together stories from various priests.Mary Rose Maher, the daughter of Opus Bono Sacerdotii co-founder Joe Maher, holds a photo from her childhood with her parents in Detroit, on June 12, 2019. Opus Bono’s finances came under scrutiny after authorities were contacted by a once-loyal employee — Mary Rose — who began questioning the way money was spent. (AP Photo/Paul Sancya)The state’s investigation began after it was contacted by a once-loyal Opus Bono employee — Maher’s own daughter, Mary Rose, now 27.In February 2017, she wrote a letter to the state attorney general accusing the group of financial misconduct.“A simple investigation into the Michigan non-profit charity Opus Bono Sacerdotii would bring to light the millions of embezzled dollars, years of mail fraud, and the constant systemic abuse of donations,” she wrote.The tip landed on the desk of Assistant Attorney General William Bloomfield, a devout Catholic with a law degree from Ave Maria.The investigation lasted more than a year.Investigators concluded the group’s fundraising solicitations had been deceptive. They also found that Maher and Ferrara had violated state charity laws by using donated funds to cover such personal expenses as sushi lunches, chiropractor visits and power tools to work on their homes, according to a cease and desist order filed by Michigan’s attorney general.Opus Bono Sacerdotii, a Michigan based nonprofit that aims to assist priests accused of sexual abuse, raised more than $8 million between 2002 and 2016. (AP Graphic)Over the years, as the group grew richer — financial records show donations increased from $73,000 in 2002 to $1.3 million in 2016 — Maher’s pay soared from $40,500 to $212,000. Ferrara’s rose from $16,300 to $316,000.“Maher and Ferrara took what they wanted, when they wanted it,” the attorney general’s office wrote, demanding repayment of more than $500,000.A former board member — J. Michael Carrigan, a former Smithsonian Institution director — said that whatever the co-founders paid themselves was only to reimburse the tens of thousands of dollars they spent out of their own pockets supporting priests in Opus Bono’s early days.Ultimately, Bloomfield oversaw a settlement last December that required Opus Bono to pay $10,000 to cover the costs of the state’s investigation and forced Ferrara and Maher from their jobs at the nonprofit. The group’s entire board of directors was replaced.Within weeks of the settlement, Bloomfield left his job at the attorney general’s office and took a job with the Catholic Diocese of Lansing, Michigan, as general counsel.Bloomfield said his work on the investigation did not represent a conflict of interest because Opus Bono is a nonprofit, separate from the church.But four years before Bloomfield began directing the state’s investigation of Opus Bono, he attended a service chanted by Perrone and the Assumption Grotto choir that moved him “to a deep and joyful praise of God,” he wrote on Facebook. Bloomfield told the AP his parents knew Perrone and that he had attended services at Assumption Grotto on occasion as a youth.Bloomfield also sells religious texts through his own imprint, Sacred Art Series, which sometimes can be found for sale at Assumption Grotto’s gift shop, a clerk said. Bloomfield said he has never sold books there directly, but added it’s possible that his mother, who served on a nonprofit board with Perrone, may have dropped off copies.___Despite the settlement, the story of Opus Bono continues to unfold.The Archdiocese of Detroit has asked the Vatican to review the sexual misconduct allegations against Father Perrone.Mary Rose Maher recently launched her own nonprofit group. She says the group will support survivors of sexual abuse, positioning it squarely in opposition to her father’s organization even as she adapts some of its tactics — offering shelter, legal representation and emotional and financial help. She is soliciting donations to build a “safe haven house” and raising money by selling tickets to a banquet that will be held at an as-yet-determined date.Her father, who was required by the state to never again run a nonprofit in Michigan, has launched a second nonprofit that seems to have the identical mission of helping priests in need.The new group is called Men of Melchizedek, a reference to an Old Testament figure who was thought to be both a king and a priest. It is registered in Indiana, but its website says its “principal office” is located in Michigan. The group lists Maher as its president.In a March letter to the Michigan attorney general, Maher’s attorney described him something akin to a case worker whose labors are “a corporal and spiritual work of mercy; it is how he practices his Catholic faith.” The letter said the new group will provide the same services as Opus Bono, but warned that “more vulnerable beneficiaries may be lost to suicide during the transition.”Both Opus Bono and Men of Melchizedek now list the same canon lawyer, the Rev. David Deibel, as their chairman.Deibel, Joe Maher and Maher’s attorneys did not return multiple messages from the AP.On its website, the new group promises “non-judgmental support and life-time accompaniment for our priest-clients who are so very much in need.”“We turn no priest away,” it says.(Martha Mendoza, Juliet Linderman and Garance Burke write for The Associated Press.)  Cancel replyYou must be logged in to post a comment.,The Village Church sued for more than $1 million over alleged abuse at church camp Catholicism By: The Associated Press Photos of the Week August 30, 2019 The Associated Press Share This! Facebook Twitter Pinterest LinkedIn ReddIt Email As Amazon burns, Vatican prepares for summit on region’s faith and sustainabilit … August 30, 2019 Facebook Twitter Pinterest LinkedIn ReddIt Email,About the authorView All Posts Share This!center_img News • Photos of the Week Investigation reveals Chicago Archdiocese’s financial woes By: The Associated Press Share This! News By: The Associated Press The Associated Press,Add Comment Click here to post a comment Facebook Twitter Pinterest LinkedIn ReddIt Email TagsCatholic Church clergy sex Eduard Perrone homepage featured Komlan Dem Houndjame Opus Bono Sacerdotii Survivors Network of those Abused by Priests,You may also like Share This! Facebook Twitter Pinterest LinkedIn ReddIt Emaillast_img read more

One killed 17 injured in two road accidents

first_imgKolkata: One person was killed and seventeen others injured in two separate road accidents in two districts. The first incident took place at Belpahari block in Jhragram on Tuesday morning. The deceased has been identified as Md Basir (26). He was a resident of Madhubani district in Bihar. The victim along with some others were going to Jhargram from Bihar in a bus which overturned. The cause of the accident is yet to be ascertained by the district police. Around 10 other passengers received injuries in the accident. They were taken to a local hospital for treatment. In a separate incident, seven persons, who were travelling in a matador, received injuries when the vehicle overturned on Kachkal-Rajarhat road in North 24-Parganas on Tuesday afternoon. Two of the injured passengers are stated serious.last_img read more

Transat Distribution Canada AIR MILES sign on for expanded partnership

first_img Posted by Transat Distribution Canada, AIR MILES sign on for expanded partnership Thursday, July 6, 2017 Tags: Transat Travelweek Group center_img TORONTO — Transat Distribution Canada has upped the ante in its partnership with AIR MILES, signing a deal that includes extra AIR MILES benefits for customers who book travel with TDC.“After a relationship of nearly 20 years, we are thrilled to be able to take it to the next level,” says Nathalie Boyer, General Manager, Transat Distribution Canada. “This represents a great opportunity for our travel agencies and travel professionals to showcase the quality of Transat Distribution’s customer service by improving the Collector’s overall redemption experience.”Effective Aug. 13 AIR MILES Packaged Vacation and Cruise (PVC) bookings will now be completed through Transat Distribution’s travel agency network.Collectors will be able to use their Miles for more destinations and at more partners than ever before, including Collette, Encore Cruises TravelBrands, AmaWaterways and Tours Chanteclerc.They’ll also be able to redeem exclusively online for Marlin Travel, Club Voyages, Transat Travel, TripCentral Atlantic Canada, and TravelPlus eVouchers (currently available using Cash Miles) and physical Certificates (available Aug. 13 in $100 denominations using Dream Miles). These can be used towards PVC travel bookings with participating preferred partners through any of Transat Distribution’s 286 participating travel agency locations across Canada or through the TDC call centre.More news:  Beep, beep! Transat hits the streets with Cubamania truckTo make it easier to receive the physical Dream Certificates, AIR MILES will be shipping certificates within 72 business hours from redemption, at no cost to the Collector.Collectors can also take advantage of more opportunities to earn miles. As of Aug. 13, they will receive 1 Mile for every $20 spent (versus 1 Mile for $35) on any PVC booking with a participating Transat Distribution travel agency. This includes any additional Cash portion spent on the PVC booking, beyond the certificate value.In 2018, AIR MILES, together with Transat Distribution Canada, will launch a new PVC website, which will allow Collectors to use their Miles immediately for PVC bookings online, 24/7 with participating partners.“We are always looking for new opportunities to make the Collector experience better, and we are thrilled to be able to deliver on that promise,” said Sharmane Good, SVP, Member Experience, AIR MILES Reward Program. “This expansion provides Collectors with increased booking options and earning potential, providing a better PVC travel booking experience. We are excited to roll out these features as just a few of the many ways we will continue to augment our rewards offering.” << Previous PostNext Post >> Sharelast_img read more

Bouygues Telecom French constructiontotelecoms c

first_imgBouygues TelecomFrench construction-to-telecoms conglomerate Bouygues has categorically denied that it is in talks with other French operators after news service La Lettre de l’Expansion reported that Orange CEO Stéphane Richard and Martin Bouygues had talks about possible consolidation at the beginning of March.“Following the article published in La Lettre de l’Expansion on 13 March 2017 entitled ‘Orange-Bouygues, un accord en vue’, Bouygues wishes to categorically deny the existence of any discussions with other operators with a view to consolidating the French telecoms market,” said the company.La Lettre de l’Expansion reported that Bouygues’ bankers were looking for a deal that would see Bouygues Telecom valued at about the same level as when negotiations were taking place last year – about €10 billion.Any deal would be expected to involve the other main French telecom players – Free and SFR – to allay competition concerns. The most widely discussed scenario involves the Free Mobile taking over Bouygues wireless spectrum while Orange and SFR share the fourth operator’s subscribers and retail outlets.Bouygues broke off talks with Orange early last year after failing to find agreement with the larger player on key elements including the level of participation of Bouygues in Orange post the acquisition, the risks of execution and the value placed on Bouygues Telecom, as well as the fate of its employees.Bouygues said at the time that it would pursue a standalone strategy in a market that still had growth potential.last_img read more

Frances TF1 Group has put the final piece in plac

first_imgFrance’s TF1 Group has put the final piece in place to secure universal fixed-line IPTV distribution after striking a deal with Iliad Telecom/Free.As with previous deals, TF1 said the agreement with Free covered both its linear channels and associated non-linear services, with Free subscribers set to benefit from “innovative functionality” from new services.The agreement covers catch-up services on the MYTF1 service, with extended windows for content, the availability of some programmes in an avant-première window ahead of their airing on terrestrial TV and unspecified advanced functionality that will “allow free to launch new services”.In addition, the deal will bring two time-shifted channels to Free customers – TF1+1 and TMC+1 – later this year, as well as event-based programming in 4K UHD.The carriage deal also covers digital channels TV Breizh, Ushaïa TV, Histoire and TFOU Max.TF1 did not reveal terms of the agreement, which appears to bring Free into line with other fixed-line service providers that have made concessions to secure an agreement.The broadcaster had been in dispute with IPTV providers Orange and Free along with pay TV operator Canal+ over its demand for retransmission fees for the carriage of its channels, having earlier struck carriage agreements with Bouygues Telecom – with which it has a shared owner in the form of Bouygues Group – and Altice France/SFR, which has itself called for retransmission fees for its own channels.TF1 struck an agreement with Orange in March after a long dispute with the operator, leaving Free as the only hold-out among fixed-line telecom players.The broadcaster has yet to strike a deal with Canal+, which briefly suspended broadcasting TF1’s channels in March.TF1’s agreement with Free also follows a deal between the IPTV provider and the country’s other main commercial broadcaster M6 Group, which had also demanded retransmission fees. That deal meant that M6 has struck agreements with all the main distributors in France, including Canal+.last_img read more

The dollar index closed on Friday at 8277…and gap

first_img The dollar index closed on Friday at 82.77…and gapped down about 10 basis points as soon as trading opened on Sunday night in New York.  After that, it rallied to its high of the day…82.89…which came at the open of equity trading in New York…9:30 a.m. Eastern time.  From there it got sold off into the close…finishing the Monday session at 82.65…down 12 basis points on the day. A cursory glance at the gold and silver charts from yesterday shows no correlation between the precious metals and the dollar index. Although gold’s low came at 10:30 a.m. in New York, the gold shares didn’t hit their nadir until 12:15 p.m. Eastern.  After that they rallied weakly along with the gold price…and then traded sideways after 2:00 p.m. Eastern time.  The HUI finished up 1.49%. Sponsor Advertisement Being a Tuesday, I have lots of stories from the weekend…and a goodly portion of them are gold related and well worth reading, so I hope you can find the time to spend on them. Obviously the U.S. Mint can’t keep up with demand for Silver Eagles…placing it in violation of the law which mandates enough bullion Silver and Gold Eagles must be produced to satisfy demand. But man-made laws can’t trump the law of supply and demand indefinitely. Many are still quick to point out that any silver shortage is confined to a number of retail forms of silver and not in the wholesale industry standard form of 1,000 oz bars. That seems to be true, but the silver retail shortage is burning intensely and the winds are strong and the firebreak separating retail and wholesale are more likely than ever to be breached. The simple fact is that these retail silver shortages have been flaring up on a recurring basis over the past few years and the current one is the strongest one yet. From everything I’ve observed, the retail shortage is bound to intensify…and I won’t keep it a secret as to what is the underlying cause – the price of silver is too low. – Silver analyst Ted Butler…20 April 2013 In a bifurcated market such as this one, it’s always hard to determine whether the hourly and daily charts for gold or silver are remotely close to free markets.  At times they have characteristics of a free market…but then a not-for-profit seller shows up…and that’s it for the day…with yesterday’s price action in both gold and silver being another case in point. As Ted mentioned in his quote above, the silver price is too low…way too low…and so is gold.  And as Grant Williams so exquisitely put it in his commentary posted above…”I can promise you that not a single one of those crashes, collapses, or crises ended up with retail investors stampeding to buy the asset that was supposedly cratering.” As the stories in the ‘Crticial Read’ section have pointed out…the precious metal markets are a firestorm of buyers…and they have sucked the pipeline clean of all precious metals world-wide over the last week.  It will take many months to fill it again, if it can be done at all, especially if JPMorgan Chase et al continue to keep the precious metals at these giveaway prices. We’re still only selling 100 oz. silver bars at the store, as that’s all we can get…and I’d bet that even this tiny window that we have into the silver market will disappear soon.  There’s nothing to buy anywhere, unless you want to pay a huge premium on e-bay. Well, the Commitment of Traders Report was not changed yesterday, so I doubt very much if it will be until Friday’s COT Report.  At that point we’ll find out whether this now-obvious false reporting from last week will be rectified at that point…or have JPMorgan Chase and the CME Group corrupted this report permanently?  We’ll find out soon enough. This bifurcated market cannot…and will not last.  The total disconnect between the paper market price and the physical market price has to resolved…and resolved quickly…as the pressure on physical demand has gone supernova.  Now that this fire is lit, it will be self-sustaining until prices change…and change drastically. The bullion banks and central banks are really up against it now…and have been caught in a trap of their own making…a plan that literally blew up in their faces.  They discovered in a real hurry that the buyers of 2013 were wise to them…and didn’t react the way they had back in 2011 when “da boyz” pulled this same stunt. If there every was a time for the world’s central banks to mark up the prices of all the precious metals [plus copper and crude oil] this would be the time to do it.  But in order to kill demand in precious metals stone-cold dead…it will take a big price adjustment to do it…and that’s why they’re going all-out to rid themselves of as much of their short positions [and/or go long] in these six commodities as they can.  And that’s why the last COT report was a fabrication, as they don’t want anyone to see what progress they’re making. I note that all four precious metals came under selling pressure in the thinly-traded and highly illiquid Far East trading session on their Tuesday, with the lows coming just moments before 3:00 p.m. in Hong Kong…which was just moments before the 8:00 a.m. BST London open.  As of 3:30 a.m. Eastern time, gross volumes are already very chunky in gold…over 44,000 contracts…and over 12,000 contracts [net] in silver.  The high-frequency traders are definitely out and about. And as I hit the ‘send’ button at 5:10 a.m. Eastern time, I see that “Da Boyz” continued to be active even past the London open…and it should come as no surprise to you, dear reader, that silver was hit the hardest once again.  As you already know, this precious metal is the biggest problem child of JPMorgan Chase, Canada’s Bank of Nova Scotia…and HSBC USA.  Gold is down about eleven bucks…and silver is down 65 cents..but was down over 80 cents at its 8:55 a.m. BST low.  Gold’s gross volume is now north of 58,000 contracts…and silver’s net volume is just above the 15,000 contract mark. The dollar index dipped about 15 basis points going into the London open…and then blasted skyward.  It’s just an eyelash above the 83.00 mark as I write this. I’m watching the current situation with morbid fascination and, like everyone else out there, I’m making things up as I go along, as this really is a Star Trek-type of precious metals market.  Right now we’re only at Warp Factor 1…but I don’t expect that to last too much longer. The rest of today’s trading action, once we get past the noon silver fix in London, should prove interesting. See you tomorrow. Here’s your “cute quota” for the day… (Click on image to enlarge) For whatever reason, the CME Daily Delivery Report was never updated from Friday’s data.  I’m looking at the correct page on their website at ten minutes before midnight Eastern Daylight time…and it has not been updated.  Normally it’s updated by 10:00 p.m. Eastern. Well, the finally did the update, but it was after midnight Eastern time before the got around to it. I discovered it around 4:30 a.m. Eastern when I was doing the final edit.  The report showed that 43 gold and 11 silver contracts were posted for delivery tomorrow…and the link to the current Issuers and Stoppers Report is here. GLD took another big hit yesterday, as 589,959 troy ounces were reported withdrawn yesterday…and as of 11:55 p.m. Eastern time last night, there were no reported changes in SLV. There was a decent sales report from the U.S. Mint yesterday.  They sold 7,500 ounces of gold eagles…7,000 one-ounce 24K gold buffaloes…and 681,000 silver eagles. Over at the Comex-approved depositories on Friday, they didn’t report receiving any silver…but they shipped 702,149 troy ounces of the stuff out the door.  The link to that activity is here. Monday was another busy sales day at the store…but not quite as busy as Friday.  Gold sales were really strong, as one customer came in and ordered an eye-watering amount of gold maple leafs.  We still only have 100 oz. silver bars for sale…and there was still no change from the mints or the wholesalers, as none of them are taking orders. Here’s a chart that reader Richard Sypher sent my way yesterday.  He borrowed it from yesterday’s edition of the “Daily Pfennig“..and I thank him for it.center_img Silver’s price pattern was similar, but the rally into the noon hour London high wasn’t anywhere near as impressive as gold’s.  After that high tick, the silver price pretty much followed the gold price pattern. Silver closed at $23.41 spot…up a whole 13 cents from Friday’s close.  Volume, net of roll-overs out of the May contract, was only 32,500 contracts. The precious metal markets are a firestorm of buyers…and they have sucked the pipeline clean Gold traded flat when it opened in New York on Sunday night…but early in Tokyo trading on their Monday morning, the price jumped up about ten bucks…and stayed there until 10:00 a.m. in London, where it jumped up a few more times, but ran into the proverbial brick wall shortly after 12:00 o’clock noon BST. From that high, gold got sold down about twenty-five bucks…hitting it New York low at 10:30 a.m. Eastern time.  After that, it slowly gained back some of that loss by 2:00 p.m…and then didn’t do much going into the 5:15 p.m. close of electronic trading. Gold closed the Monday trading session at $1426.30 spot…up $19.80 on the day.  Gross volume was around 199,000 contracts…with a large chunk of that occurring early in the trading day…up until the London high of the day. The silver stocks traded mixed…and Nick Laird’s Intraday Silver Sentiment Index closed up a smallish 0.57%. Freegold Ventures Limited is a North American gold exploration company with three gold projects in Alaska. Current projects include Golden Summit, Vinasale and Rob. Both Vinasale and Golden Summit host NI 43-101 Compliant Resource Calculations. An updated NI 43-101 resource was calculated on Golden Summit in October 2012 and using 0.3 g/t cutoff  the current resource is 73,580,000 tonnes grading 0.67 g/t Au for total of 1,576,000 contained ounces in the indicated category, and 223,300,000 tonnes grading 0.62 g/t Au for a total of 4,437,000 contained ounces in the inferred category. In addition to the Golden Summit Project the Vinasale also hosts a NI 43-101 resource calculation which was updated in March 2013. Indicated resources are 3.41 million tonnes averaging 1.48 g/t Au for 162,000 ounces, and Inferred resources are 53.25 million tonnes averaging 1.05 g/t Au for 1,799,000 ounces of gold utilizing a cutoff value of 0.5 grams/tonne (g/t) as a possible open pit cutoff. Please send us an email for more information, ir@freegoldventures.comlast_img read more

Silvers early morning rally in the Far East ran i

first_img Silver’s early morning rally in the Far East ran into a major seller of last resort, as volume was north of 12,000 contracts by 11 a.m. in Tokyo. Silver was up almost 70 cents by that time, and from there it got sold down in fits and starts to its London low around $20.80 spot, which occurred about 12:15 p.m. BST in London, a slightly late silver fix, perhaps?  After that, the silver price pretty much followed the gold price up until 9:20 a.m. EDT in New York.  But, unlike gold, silver didn’t get sold down, it continued to creep higher in price, with the high tick [$21.59 spot] coming in electronic trading after the Comex close.  The silver price got sold down a bit going into the 5:15 close. Silver finished the day at $21.42, up 87 cents from Friday’s close.  Of course it, like gold, would have finished phenomenally higher if it had been allowed to do so, which it obviously wasn’t.  Net volume was around 51,500 contracts, with about 12, 000 or so contracts traded by 10 a.m. Hong Kong time.  The volume after that was slightly elevated, but nothing special. For the day, gold was up 1.72%, silver closed up 4.23%, platinum was down 0.40%, and palladium was down 0.54%. The dollar index closed on Friday at 81.12, and traded pretty flat until 2 p.m. in Hong Kong yesterday afternoon local time.  From there it rallied to its 81.50 high, which occurred at 8:20 a.m. EDT, right at the Comex open.  By noon it was back down to 81.30, before rallying into the close.  The index finished the Monday trading session at 81.48, up 36 basis points from Friday’s close. Not surprisingly, the silver stocks did even better, as Nick Laird’s Intraday Silver Sentiment Index finished the day up 6.11%.  A lot of the smaller junior producers/exploration companies finished up double digits.  However, at these depressed share prices, that’s not hard to do, but nice to see, anyway. (Click on image to enlarge) The CME’s Daily Delivery Report showed that 58 gold and zero silver contracts were posted for delivery within the Comex-approved depositories tomorrow.  The short/issuer of all 58 contracts was JPMorgan Chase out of its client account, and the only long/stopper of note was JPMorgan Chase in its proprietary [in-house] account.  It was ever thus!  The link to yesterday’s Issuers and Stoppers Report is here. The CME’s preliminary volume report for Monday’s trading shows that there are still around 1,300 gold contracts still open in August.  It will be interesting to see not only how many of these contract holders actually stand for delivery, but who the issuers and stoppers might be. I was rather surprised to see that there were no additions to either GLD or SLV yesterday.  But maybe I’m being impatient.  Let’s see what today brings.  I’m particularly interested in seeing what, if anything, is deposited in SLV in response to Monday’s [and last Thursday’s] move in the silver price. Joshua Gibbons, the Guru of the SLV Bar List finally updated his website with last week’s data.  Here, in part, is what he had to say about SLV’s bar list as of the close of business on Wednesday, August 7th, “Analysis of the 07 August bar list, and comparison to the previous week’s list showed that 717,065.6 oz. were removed (0.5M oz. from Via Mat, 0.2M oz. from Brinks London), and no bars were added or had a serial number change.  The bars removed were from: JSC (0.3M oz.), Korea Zinc (0.2M oz.), Shui Kou (0.1M oz.), and 4 others.”  The link to his website is here. The U.S. Mint had a sales report.  Once again, gold sales were very poor.  They sold only 500 ounces of gold eagles, 1,500 one-ounce 24K gold buffaloes, and 746,000 silver eagles. Over at the Comex-approved depositories on Friday, they reported shipping out 164,500 troy ounces of silver, and didn’t report receiving any.  None of the reported movements involved JPMorgan Chase.  The link to that activity is here. In gold, they reported receiving 73,146 troy ounces, and shipped 100,467 ounces out the door.  But a cursory glance at the numbers shows that a large percentage of it involved transfers within the Comex-approved depositories, Scotiabank to HSBC USA, and HSBC USA to JPMorgan Chase, the ‘Big 3’ shorts in silver, and two of the three biggest short holders in gold.  In other words, it was “all the usual suspects”.  The link to that action is here. Considering this is a Tuesday column, I don’t have all that many stories, and most of the ones I do have are precious metal related.  I hope you have time to read them all. The reduction in the SLV short position by deposits of physical metal, and not by plain-vanilla share buying to cover short sales, points to tightness in the wholesale physical silver market. How so? Because it strongly suggests that SLV shares were originally sold short precisely because there was not sufficient metal available to deposit into the trust at that time. Only after the physical metal could be procured did the deposits take place. This is not the first time this has occurred and this is certainly not the only sign of wholesale tightness in the wholesale silver market. After a while, when it looks like, quacks like, and walks like a duck, chances are it is a duck (or genuine silver wholesale tightness). – Silver analyst Ted Butler, 10 August 2013 I was certainly happy to see the nice moves in both gold and silver yesterday, and it should come as no surprise to you, dear reader, that silver vastly outperformed gold.  That should continue. But I wasn’t overly amused by the fact that there was obvious opposition by a not-for-profit seller in the Far East on their Monday morning, as the volume was enormous for that time of day.  We’ll have to wait until Friday’s Commitment of Traders Report to see how much damage was done, not only yesterday, but for the entire reporting week, which has seen a big jump in price in both metals.  Today, at the close of Comex trading, is the cut-off for that report. It’s also obvious that the 50-day moving averages in both silver and gold got totally obliterated yesterday.  Here are their respective 6-month charts. It should come as no surprise to you, dear reader, that silver vastly outperformed gold. Gold rallied right from the open in New York on Sunday night.  The buying ended, or the rally got capped, about forty-five minutes later.  Volume by 11 a.m. in Tokyo was just north of 25,000 contracts, so these rallies did not go unopposed. The gold price traded sideways in a tight range either side of $1,330 spot until about  half an hour after the 8 a.m. London open, and developed a negative bias going into the noon BST London silver fix.  It began to rally from there, but it was the two [short covering?] rallies between 9 and 9:30 a.m. in New York that added another fifteen bucks to the price in very short order.  The high tick came around 9:20 a.m. EDT, which Kitco recorded as $1,345.60 spot. After that, gold got sold down ten bucks going into the 1:30 p.m. Comex close, and didn’t do much from there. Gold finished the Monday trading session at $1,337.30, up $22.60 on the day, but well off its high.  Volume, net of August and September, was around 151,000, but a big chunk of that traded in the first hour in Tokyo on their Monday morning, as it appeared that a fair amount of firepower was used to kill that rally. (Click on image to enlarge) The gold stocks gapped up a bit over four percent at the open yesterday, and were up almost seven percent at their highest, which was shortly before 1 p.m. EDT.  After that they faded a bit for the rest of the day.  The HUI turned a respectable performance nonetheless, closing up 5.51%. Sponsor Advertisement (Click on image to enlarge) Needless to say, I’m looking forward to what the technical funds do with their massive short positions now that this key moving average has been penetrated with a vengeance.  And even more important, will JPMorgan Chase be there on the sell side when these funds begin to cover?  I’m sure that Ted Butler’s raptors will be taking profits as the price climbs, but JPMorgan Chase is still running this show, and now have a long-side corner on the market.  It remains to be seen how they use it, and I suspect that we won’t have long to wait to get the answer to that question. I took a quick peek at the preliminary volume numbers for Monday’s trading day, and even though I don’t wish to read too much into them, as they can change quite a bit when the final numbers get posted later this morning EDT, I was surprised to see that gold’s open interest was only up 3,000 contracts, which isn’t a lot.  However, silver’s open interest blew out by 6,700 contracts, and that’s a huge amount.  Hopefully the final numbers will show improvements, especially in silver. The price action in Far East trading on their Tuesday was choppy, and volumes reasonably light, and mostly of the high-frequency trading variety, so I’m not going to read a thing into these markets.  However, at 2 p.m. Hong Kong time, all four precious metals began to move higher in unison, but all got capped the moment that London opened for trading an hour later.  And as I hit the ‘send’ button on this morning’s column at 5:18 a.m. EDT, gold is back below Monday’s close by a few bucks, platinum is up a bit over a percent, and palladium is up a few bucks.  But silver is struggling higher, as it appears that the sellers of last resort are throwing everything they can at the price.  It was up over 40 cents at one point, but is now up only about 22 cents. Volumes have really blow out.  Gold volume has now doubled since London opened, and is now a bit north of 36,000 contracts.  The same can be said for silver, as the volume is now a whopping 18,000 contracts.  I can tell by looking at the numbers on the CME’s website, that it’s almost all of the high-frequency trading variety, so it’s obvious that these rallies are destined to go nowhere for the moment. I will be more than interested in seeing what the price action is like once New York starts to trade but, for the moment,  JPMorgan’s high-frequency traders are in complete control. See you tomorrow. Platinum and palladium were dancing to their own music yesterday, as they usually do, and here are their charts. Rub Elbows with Dr. Ron Paul, Doug Casey, and 24 Other Renowned Economic and Investment Experts We all know the value of networking when it comes to our careers. But it can be even more valuable to your portfolio. You can see for yourself at the Casey Research 3 Days With Casey Summit, to be held October 4-6 in beautiful Tucson, Arizona. Attend and you might run in to Dr. Ron Paul, who’s delivering the keynote address. Like many of the speakers, he plans to stick around for the entire three days (the Summit is that important). Or perhaps you’ll want to rub elbows with legendary contrarian investor Doug Casey… natural resource speculator extraordinaire Rick Rule… Solari Report Publisher Catherine Austin Fitts… Obamacare expert Dr. Elizabeth Vliet… or any of the other 21 financial and investment experts at the 3 Days With Casey Summit speakers. Click now for a comprehensive speakers list. Please don’t miss this rare opportunity meet and talk with some of the world’s foremost economic and investment experts. Seats are selling fast, so you need to reserve your spot now.last_img read more

Abolish the Federal Reserve

first_img Abolish the Federal Reserve. The United States of America is not what it used to be. Unsustainable mountains of debt, continuous meddling by the government and Fed to “stimulate the economy,” and the US dollar’s dwindling status as the world’s reserve currency are very real threats to Americans’ standard of living. Here are some opinions from the recently concluded Casey Research Fall Summit on the state of the state and how to fix it. Marc Victor, a criminal defense attorney from Arizona and a staunch liberty advocate, says there’s really no such thing as “the state”—“it’s just some people bossing other people around.” Not everyone wants to fix things, he says; the bosses like the status quo. For example, aside from drug lords, DEA agents are the ones benefiting most from the “War on Drugs.” Victor believes that democracy and freedom are incompatible, since “democracy is majority rule, and freedom is self-rule.” If you want to bring true freedom to America, he says, winning hearts and minds is the only way to reboot this country and create a free society. Paul Rosenberg, adventure capitalist, Casey Research contributor, and editor of “A Free Man’s Take,” views America’s future similarly. He thinks the United States is in a state of entropy. The bad news, says Rosenberg, is that there will be no revolution. The good news is that the peak of citizens’ obedience to the state is behind us, and people are getting fed up with the government’s shenanigans. Real change is slow, he says, so we must work persistently to create a better world. Stephen Moore, chief economist at the Heritage Foundation, says the problem is liberal economic policy: Red states in the US, he says, have blown away blue states in job creation since 1990. Texas alone accounts for the entire net growth of the US economy over the past five years. As another proof point in favor of a free-market economy, Moore emphasizes that both Obama and Reagan took office during terrible economic times. While Obama has raised taxes and instituted Obamacare, Reagan cut taxes and regulation. As a result, the Reagan economic recovery was almost twice as robust as the Obama “recovery.” One of the US’s biggest problems, says Moore, is that companies can’t reinvest profits because dividend, capital gains, and income taxes all have increased under Obama. Corporate taxes in the rest of the world have dramatically declined in the last 25 years, but in the US, they haven’t budged. The average corporate tax rate around the world is 24%—in the US, it’s 38%. Overall, though, Moore is bullish on the US economy. American companies, he says, are the best-run in the world, if only the US government would adopt less economically destructive policies. Doug Casey, chairman of Casey Research, legendary speculator, and best-selling financial author, isn’t so optimistic. First of all, he says, we’re in the Greater Depression right now, which began in 2008. He fears it’s too late to repair America, but says if anyone would attempt to do so, the following seven-step program would help: Allow the collapse of “zombie companies” (companies that are only being held up by government handouts and other cash infusions). Abolish all regulatory agencies. Cut the size of the military by at least 90%. Eliminate the income tax. Sell all US government assets. Default on the national debt. Of course, says Casey, that’s not going to happen, so individual investors shouldn’t hope for a political solution or waste their time and money trying to stop the inevitable collapse of the US economy. The only way to save yourself and your assets is to internationalize. He recommends owning significant assets outside your home country: for example, by buying foreign real estate. You should also buy and store gold, “the only financial asset that’s not simultaneously someone else’s liability.” Casey’s suggestions include going short bubbles that are about to burst (like Japanese bonds denominated in yen), selling expensive assets like collectible cars and expensive real estate in major cities, as well as looking toward places like Africa as contrarian investment opportunities. Nick Giambruno, senior editor of International Man, agrees that internationalizing your wealth—and yourself—is the most prudent way to go for today’s high-net-worth investors. It ensures that “no single government can control your destiny,” and that you put your money, business, and yourself where they are treated best. You should internationalize each of these six aspects of your life, says Giambruno: our assets; your citizenship; your income/business; your legal residency; your lifestyle residency; and your digital presence. Regarding your assets, you can find better capitalized, more liquid banks abroad, and using international brokerage accounts can provide you access to new investment markets. To hear all of Nick Giambruno’s detailed tips on how to go global, as well as every single presentation of the Summit, order your 26+-hour Summit Audio Collection now. It’s available in CD and/or MP3 format. Learn more here.last_img read more

Gold stocks just had their best day since the fina

first_imgGold stocks just had their best day since the financial crisis… On Friday, the VanEck Vectors Gold Miners ETF (GDX), which holds some of the world’s largest gold miners, surged 11.2%. It was its best day since October 2008. As you may know, gold miners are leveraged to the price of gold. A small jump in gold can cause gold stocks to soar. On Friday, the price of gold spiked 2.8%, which sparked the rally in gold stocks. Today, we’ll look at what caused this big jump… As you’ll see, it’s the latest sign that the U.S. economy may be headed for a recession… And it’s yet another reason you absolutely need to dedicate a portion of your portfolio to gold and gold stocks right now… • Last month, the economy added its fewest amount of new jobs in six years… According to the U.S. Labor Department, the economy created just 38,000 jobs in May—the fewest in one month over the past six years. According to Bloomberg Markets, economists expected 160,000 new jobs. Gold and gold stocks spiked on the news. The U.S. dollar fell 1.7%. And the S&P 500 closed Friday down 0.29%. • Jobs are getting more scarce… Bloomberg Markets reported on Friday: The report showed a broad hiring slowdown, including declines in payrolls in construction, manufacturing and mining. Job growth at private service producers slowed, with employment climbing by just 61,000… Friday’s report showed employment in the information sector dropped by 34,000. Millions of Americans have picked up part-time jobs to make ends meet. Bloomberg Markets added: Americans who are working part-time though would rather have a full-time position, or the measure known as part-time for economic reasons, climbed to 6.4 million in May, the highest since August, from 6 million a month earlier. And underneath the surface, other indicators are suggesting the economy is in bad shape… • The number of folks employed by “temp” agencies fell by 21,000 last month… Temp agencies place workers into temporary job assignments, such as seasonal work. Temp agencies are often the first to hire workers when the economy is growing. When the economy slows, they’re often the first companies to lay off workers. That’s why a surge in temp layoffs can be an early sign that the economy is struggling. • Temp agencies have laid off more workers than they’ve hired in four of the past five months… Today, the industry employs 64,000 fewer workers than it did at the start of the year. David Rosenberg, chief economist at wealth management firm Gluskin Sheff + Associates, warned that this is a major problem. He wrote in Business Insider: [T]his type of weakness over such a stretch, again not to sound like an alarmist, occurred just prior to economic recessions in the past, without exception and with no “head fakes”. Yes, it typically is not good news when the headhunters are the ones to start chopping off heads — this is a leading indicator. So I may not want to sound alarmist, but the answer is yes … I am worried. He continued: I don’t want to alarm anyone but the facts are the facts, and the fact here is simply that this is precisely the sort of rundown we saw in November 1969, May 1974, December 1979, October 1989, November 2000 and May 2007. Each one of these periods presaged a recession just a few months later — the average being five months. If you’ve been reading the Dispatch, you know the U.S. economy is barely limping along. The current “recovery” is the slowest since World War II. And it’s not just the U.S… Other major economies are in rough shape too. China, the world’s second-biggest economy, is growing at its slowest pace since 1990. Japan’s economy, the third biggest, hasn’t grown in two decades. • But perhaps the most concerning number comes from South Korea—the “canary in the coal mine” for the global economy… South Korea is one of the first countries in the world to report export data. And with more than 40% of its exports going to the U.S., China, and Japan, a significant drop in South Korean exports is often an early warning sign of trouble in the global economy. South Korean exports fell 6.0% in May. It was the 17th consecutive month in which exports have dropped. The sharp decline follows an 11.2% drop in April. You’ll Be SHOCKED if You Haven’t Seen This… If you haven’t seen this raw footage yet, we’re not sure why. In fact, we’d be shocked if you haven’t at least heard about it. That said, it is simply too important for you to miss. So just to be 100% sure you have a chance to see it… Please click here to view it now. • Over the last few months, we’ve covered lots of reasons why you should invest very cautiously right now… Corporate profits are tanking. The S&P 500 hasn’t set a new high in over a year. Some of America’s most iconic businesses are closing stores and laying off workers by the thousands. We’ve also been urging you to maintain a “defensive” portfolio—one that can withstand an economic shock like a stock market crash. That’s why E.B. Tucker, editor of The Casey Report, has been encouraging readers to own a significant amount of physical gold. Gold is one of the only assets that can do well during a financial crisis or recession. And as we often point out, gold is real money. It’s held its value for centuries because it has a unique set of qualities: It’s easily divisible, easy to transport, and durable. No matter where you go in the world, folks recognize its value. Gold is up 18% already this year. And as we’ve mentioned, it’s set to soar much higher in the months ahead. • For a limited time, Casey readers can get in on the cheapest way to buy gold coins we’ve ever found… Last month, E.B. worked out an exclusive deal with Gainesville Coins, one of the largest U.S. coin dealers. The company offers exceptional service and some of the industry’s lowest premiums…especially if you’re a Casey Research reader. If you’ve bought a gold coin, you know the “premium” is the fee gold sellers charge above the market price. Premiums vary from one gold dealer to another. The lower the premium, the better the deal. Now, for a limited time, you have an opportunity to purchase these coins at a HUGE discount to what other major brokers charge—including a one-ounce South African Gold Krugerrand for just $20 over the “spot” price of gold. Click here to see the full selection of special prices. Again, this offer is only for Casey readers, so make sure to take advantage while you still can. (Keep in mind, Gainesville Coins is not paying us a commission to recommend them. Instead of collecting a commission, we asked Gainesville to give Casey readers a special discount on gold coins.) • To increase your profits from investing in gold, consider buying gold stocks… E.B. expects gold to go much higher in the coming years. To profit from higher gold prices, he recommended two gold stocks earlier this year. One is up 47% since March. The other is up 34% since April. Those are huge gains for such short periods of time. And if gold continues to move higher as E.B. expects, these stocks should soar much higher. The average gold stock gained 602% during the 2000–2003 bull market. The best ones soared 1,000% or more. You should know that gold stocks aren’t for everyone. They’re incredibly volatile. As we saw on Friday, it’s common for gold stocks to move 10% or more in a day. But if you’re OK with taking on some extra risk, owning gold stocks is a great way to potentially earn big 2x or 3x profits in a short period of time. You can learn E.B.’s two favorite gold stocks by taking a risk-free trial to The Casey Report. By clicking this link, you’ll also get a chance to watch a short, free video where E.B. explains a huge threat looming in the American economy…and what you can do (in addition to buying gold) to protect your money. Watch it here. Chart of the Day U.S. companies are hiring at the slowest rate in years… Today’s chart shows how many jobs were created each month since February. As you can see, the number of new jobs has plummeted by around 200,000. This is not a sign of a healthy economy. If you don’t own gold yet, we recommend you buy some today. Another ugly jobs report could cause the price of gold to skyrocket. Regards, Justin Spittler Delray Beach, Florida June 6, 2016 We want to hear from you. If you have a question or comment, please send it to feedback@caseyresearch.com. We read every email that comes in, and we’ll publish comments, questions, and answers that we think other readers will find useful. Man Responsible for Video Warning Americans Returns to DC for Interview After his video detailing the truth about the Obama economy went nearly viral last year, this Maryland father of six was asked to come to DC to talk about it.  But what he said changes everything…center_img – — Recommended Linkslast_img read more

California Paves the Way for Cars With Empty Drivers Seats

first_img Learn from renowned serial entrepreneur David Meltzer how to find your frequency in order to stand out from your competitors and build a brand that is authentic, lasting and impactful. Officials in California proposed new rules on Friday that would let companies test autonomous cars on public roads with no human driver present.The proposal is a significant update to the state’s self-driving car regulations adopted in 2014, which allow testing on public roads only if a driver is inside the vehicle. With the new rules, companies that want to test cars without human drivers will have to apply for a special permit and meet federal standards defined by the National Highway Traffic Safety Administration.To be approved for the permit, companies will also have to obtain written support from the jurisdiction that they want to test in, which suggests that local governments could object to testing on their streets.According to the California Department of Motor Vehicles, 21 companies are currently testing autonomous vehicles in the state. Among them are tech companies such as Waymo, which took over Google’s self-driving project last year, as well as traditional automakers such as Toyota and BMW.”California has more manufacturers testing autonomous vehicles than any other state and today’s rules continue our leadership with this emerging technology,” California Transportation Agency Secretary Brian Kelly said in a statement. The state’s updated regulations will now enter a 45-day public comment period before they are adopted.Although California is a hotbed of autonomous vehicle research, it is not the only state that is working on regulations to govern the industry. In December, Michigan adopted new laws that establish comprehensive self-driving car regulations and made it the first state to allow completely autonomous ride-sharing fleets.   Fireside Chat | July 25: Three Surprising Ways to Build Your Brand Cars 56shares Next Article Image credit: Mark Wilson | Getty Images California Paves the Way for Cars With Empty Driver’s Seats Add to Queuecenter_img Proposed regulations would let companies test self-driving cars on public roads without a human driver present. News reporter This story originally appeared on PCMag 2 min read March 13, 2017 Tom Brant Enroll Now for $5last_img read more

Can Marijuana Replace Lost Steel Jobs Pennsylvania Town Has High Hopes

first_imgCannabis Free Green Entrepreneur App Download Our Free Android App Guest Writer –shares Keep up with the latest trends and news in the cannabis industry with our free articles and videos, plus subscribe to the digital edition of Green Entrepreneur magazine. Can Marijuana Replace Lost Steel Jobs? Pennsylvania Town Has High Hopes. A region of the Keystone State impoverished by industrial decline and ravaged by opioid addiction sees a future in medical cannabis. Next Article Add to Queue March 28, 2017 4 min read Opinions expressed by Entrepreneur contributors are their own. The promise of big profits and job creation continues to draw communities to the legal marijuana industry, particularly in places where the economy has long suffered.Nowhere is this more apparent than in southwestern Pennsylvania. City leaders in Braddock, located east of Pittsburgh, have submitted an application with the state in hopes to land a license that will allow for a new cannabis cultivation facility. The goal is for legal medical marijuana to bring back jobs lost over the past decades by the decline in the steel industry.They have partnered with a company that includes a Pennsylvania legend among its top executives: Hall of Fame running back Franco Harris, who played for the Pittsburg Steelers. The company has a goal of his own: finding out if marijuana can become an effective pain management medicine that replaces opioids.Related: 5 Routes the Cannabis Industry Could Take to Get Around Federal Banking RestrictionsTough TimesIn many places, such as in California and Colorado, businesses and communities vie against each other to win potentially lucrative licenses from the state for creating and operating marijuana cultivation centers and retail outlets. However, in a place such as Braddock, leaders see it as a means of survival.Braddock has been decimated by the jobs lost with cutbacks in the steel industry since the late 1980s. The city’s economic state landed it on the Pennsylvania Act 47 roll of financially distressed cities. Braddock has been on the list since 1988.In numerous media appearances, Mayor John Fetterman thinks a large medical marijuana cultivation center can change the town’s fortunes. As many as 70 new jobs would be created at the outset, and the city would reap the tax benefits of having the facility in town.“It’s a great story to have with a community that’s been kind of left behind by an industry in decline like steel to be resurrected financially from a brand new industry that didn’t even exist in Pennsylvania six months ago,” Fetterman said in a Facebook Live interview with the Pittsburgh Post-Gazette.State lawmakers and Gov. Tom Wolf approved medical marijuana in Pennsylvania in 2016.Braddock already faces competition for the license from nearby McKeesport, which also plans to submit an application. The state has said it will only allow a limited number of facilities within six different regions of the state.Related: Colorado Takes Aim at the Marijuana Black MarketLaurel Green MedicalHarris is chairman of Laurel Green Medical, which would run the facility in Braddock if the project wins the state permit.On its website, the company said its cultivation center “will use sustainable growing techniques to facilitate the best species of the plant. We will oversee the production of our medicine from seed to sale; this allows us to offer more affordable prices to our patients across-the-board.”Harris became interested in medical marijuana through fellow former and current NFL players who told him that using opioids to manage pain sometimes led to addiction to the drug, according to the Post-Gazette. He also noted that Pennsylvania has been one of the states hit hardest by the opioid addiction crisis.Related: How Do We Measure the Statistical Significance of Legal Cannabis?Research into the uses of medical marijuana is “something that’s very much need,” Harris said.Permit applications were sent to the state in March. The state is expected to grant permits within the next several months, with the businesses beginning operation by mid-2017.Follow dispensaries.com on Instagram to stay up to date on the latest cannabis news.  Image credit: Oliver Contreras | The Washington Post | Getty Images dispensaries.com Easy Search. Quality Finds. Your partner and digital portal for the cannabis community.last_img read more