A Vote of Confidence for Bank of America

first_img Share Save The Best Markets For Residential Property Investors 2 days ago Previous: CFPB Clears the Way for Class-Action Lawsuits Next: CFPB Names Advisory Board Members in Daily Dose, Featured, Headlines, News Related Articles Bank of America will be getting a new investor soon, according to a press release—and that investor’s name is Warren Buffet, Chairman and CEO of Berkshire Hathaway.The company, who’s 2011, $5 billion deal on preferred stock with Bank of America, also included warrants to purchase 700 million shares of common stock. Buffet shared in a letter to his stockholders that he intends on capitalizing on these warrants.Bank of America’s stock currently trades at $24.88, as of July 10, 2017; however, Berkshire Hathaway’s warrants allow the company to purchase Bank of America stock at $7.14 per share. With Bank of America recently increasing their dividends to $0.12 per share in response to The Fed’s stress test results last month, 700 million shares amounts to nearly $336 million in dividend payouts over the course of the year.This isn’t the first time Berkshire Hathaway has invested in a bank. They’ve held American Express since the 60s, and also have positions in Well Fargo, U.S. Bancorp, and Bank of New York Mellon.The bank stands to benefit from the long-term investment that Buffet is known for, particularly from the vote of confidence that such an investment holds in the market. Bank of America’s stock has been struggling since the housing bubble burst, when it had peaked at around $55 a share. By 2009, the stock was as low as $5 per share. Since that time, Bank of America has been struggling with legal expenses, elevated operating costs as a result of industry mandated regulations, and loan charge-offs. It is estimated that the bank has incurred expenses of close to $200 billion. Since the 2009, the bank’s stock has slowly been climbing back, but still remains 46.6 percent lower than its highest point.aBerkshire Hathaway’s investment in Bank of America will make the conglomerate the bank’s largest shareholder. About Author: Joey Pizzolato Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Bank of American Investment Warren Buffet A Vote of Confidence for Bank of America Home / Daily Dose / A Vote of Confidence for Bank of America Joey Pizzolato is the Online Editor of DS News and MReport. He is a graduate of Spalding University, where he holds a holds an MFA in Writing as well as DePaul University, where he received a B.A. in English. His fiction and nonfiction have been published in a variety of print and online journals and magazines. To contact Pizzolato, email [email protected] Bank of American Investment Warren Buffet 2017-07-10 Joey Pizzolato Sign up for DS News Daily center_img July 10, 2017 1,313 Views Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribelast_img read more

Status and trends of albatrosses in the French Southern Territories, Western Indian Ocean

first_imgToday albatrosses are threatened worldwide, especially by fishing activities, and many populations are currently in decline. Albatrosses breeding at the French Southern Territories in the south-western Indian Ocean, on the Crozet, Kerguelen and Saint-Paul–Amsterdam island archipelagos, are monitored regularly. This monitoring has been based on a sample of species and sites, and there was a need for an assessment of the population trends for all species at each site. During the past 3 years most populations have been surveyed, allowing an assessment of the trends of albatrosses breeding at the archipelagos of the French Southern Territories over the past 40 years. Wandering Albatrosses show similar trends at all sites within the Crozet and Kerguelen archipelagos, with a recent recovery of colonies after strong declines in the 1970s. Amsterdam Albatrosses are increasing, albeit at lower rates during recent years. Indian Yellow-nosed Albatrosses show a global decline over the entire range. The trends among Black-browed and Grey-headed Albatrosses vary between colonies and archipelagos. Sooty Albatrosses have continuously decreased in numbers whereas Light-mantled Albatross numbers vary considerably between years, with an overall increase over the past 30 years. These results confirm that the French Southern Territories in the south-west Indian Ocean support a significant portion of the world populations of several albatross species. Several species appear to be steadily decreasing probably because of the impact of fisheries and disease outbreaks. The reasons for different trends among populations of the same species are not well understood and require further investigation.last_img read more

Research and History from the Depths of the Sea

first_imgBy Geraldine Cook/Diálogo January 22, 2018 The mission of the Chilean Navy’s Strategic Studies Center (CEDESTRA, in Spanish) is very specific: to conduct research and analyses—principally of a forward-looking nature—related to the Chilean Navy’s strategic areas. Topics like security and defense, military sociology, and international maritime law are some of the lines of investigation the institution spearheads in the area of military studies for more than two decades. The work of CEDESTRA focuses on advising the Navy General Staff to prepare the institution for future scenarios with strategic planning. “It’s an enormous challenge to lead CEDESTRA because of the multiple issues we work on,” said Chilean Navy Vice Admiral (R) Jorge Ibarra Rodríguez, executive director of CEDESTRA. “The challenge is to be an organization that the Chilean Navy can count on for its research in different areas.” Since its creation in 1991, the center moved into various facilities and is now located in Valparaíso, Chile, at the Navy General Staff’s facilities. In addition to the research topics it spearheads, CEDESTRA creates room for discussion, exchange, and knowledge in the areas of security and defense, among other topics. The center CEDESTRA focuses on two specific areas: research and institutional outreach. Research focuses on developing strategic studies on national security and defense, maritime history, military sociology, international maritime law, and maritime interests, among others. Through its institutional outreach, CEDESTRA coordinates activities with academic centers of the Armed Forces of Chile, including the National Academy of Political and Strategic Studies, the Center of Aerospace Strategic Studies, the Chilean Air Force, and the Army General Staff Center for Military Studies and Research. CEDESTRA also implements activities and maintains agreements with public and private universities, and carries out international exchanges with countries throughout the region. CEDESTRA orients its academic tasks according to directives from the Chilean Navy’s strategic development plan, known as the Ocean Directive. The directive allows CEDESTRA to work on its regular research topics and stay open to new research areas such as the politics of inclusion, Antarctica, the environment, etc. Special study areas “Naval history is no longer approached solely from the perspective of naval combat,” said Susana Iduya Guerrero, CEDESTRA historian and researcher. “We currently have a more complete view, including strategic, political, and social points of view.” Naval history is not very developed in Chile, Iduya said, so the fields of naval history and military sociology have become new disciplines. “Military sociology as a discipline is not very common in the military field,” said Chilean Navy Captain (R) Omar Gutiérrez Valdebenito, a specialist in military sociology. “My responsibility is to follow social transformation processes that have an effect on society and how these impact the military institution.” “The social transformations are so innumerable and fast that suddenly it’s hard to say which impacted the Armed Forces most in the past few years in Chile,” Capt. Gutiérrez said. “Maybe the most relevant for the Chilean Navy has been the incorporation of women.” The Chilean Navy counts about 25,000 uniformed personnel, of which 10 percent are women. Women have been a part of the Navy since 1936, when the institution incorporated the first nurses and administrative staff. But it was in 2003, when uniforms were regulated to take into account the distinct insignia for ranks and specialties. According to Capt. Gutiérrez, military sociology studies how naval forces prepared and adapted its organizational culture for the inclusion of women, as well as their performance within military ranks, including life aboard a military ship, participation in combat, and leadership within the organization, among others. “From military sociology, we have the chance to alert the institution with respect to upcoming changes and challenges,” Capt. Gutiérrez concluded.last_img read more

Colombia’s confirmed coronavirus cases rise above 50,000

first_imgTopics : Colombia’s economy has been battered by the twin ills of a coronavirus quarantine put in place by President Ivan Duque and falling oil prices.The country entered a national lockdown in late March, which is expected to be lifted on July 1.But as certain sectors start to reopen and the quarantine begins to lift, medics are bracing for a spike in COVID-19 cases.At a news conference on Sunday, Bogota Mayor Claudia Lopez declared new restrictions in which residents can only leave home to go shopping or access financial services on days corresponding with the numbers on their ID cards. Strict two-week quarantines will also be imposed in a number of Bogota’s districts where infection rates are high.The lockdown has led to thousands of businesses being shuttered, causing rising joblessness.In April, unemployment in Colombia hit a historic 23.5% in urban areas, equivalent to more than 4 million people out of work, as the government promised further measures to help those most affected.Colombia’s economy will contract 5.5% in 2020, according to the Finance Ministry, because of the semi-paralysis caused by the quarantine.The country will widen its fiscal deficit to 6.1% of gross domestic product – equivalent to more than 60 trillion pesos ($16 billion) – from an original 2.2% of GDP.center_img Confirmed coronavirus cases in Colombia have risen to over 50,000, the country’s Health Ministry said on Sunday, while neighboring Ecuador approached the same milestone.Colombia has reported 50,939 cases of the coronavirus and 1,667 deaths. In Ecuador, cases have surpassed 46,700 and deaths stand at 3,896.COVID-19, the respiratory disease caused by the novel coronavirus, has overwhelmed Ecuador’s health system, in some cases leaving authorities unable to collect the bodies of the dead and forcing the government to store corpses temporarily in refrigerated shipping containers.last_img read more

Ex-Super Eagles forward attracting Roma interest

first_img Promoted ContentWhy Do So Many Digital Assistants Have Feminine Names & Voices?The Highest Paid Football Players In The WorldThe 10 Best Secondary Education Systems In The WorldMost Popular Movies With Sylvester Stallone7 Things That Actually Ruin Your Phone7 Universities In The World With The Highest Market ValueWhat Is A Black Hole And Is It Dangerous For Us All?10 Risky Jobs Some Women DoBirds Enjoy Living In A Gallery Space Created For Them8 Shows You Didn’t Want To Watch At The End7 Universities Where Getting An Education Costs A Hefty PennyWhat Happens To Your Brain When You Play Too Much Video Games? Loading… Serie A campaigners Roma are reportedly keen to keep ex-Super Eagles and Chelsea wing-back Victor Moses in the Italian topflight once his loan deal with Inter Milan expires. The Nigeria international has spent the second half of the elongated 2019-20 campaign at San Siro, making 13 appearances for Inter in all competitions. Moses is expected to return to Chelsea in the coming weeks but, with just one year to run on his contract, Calciomercato suggests that the Blues are looking to cash in. Advertisement Read Also: Chelsea must off-load centre-back to buy Atletico Madrid defender Gimenez Roma are supposedly interested in signing the 29-year-old as they look to strengthen down the right-hand side ahead of next campaign. Moses signed for Chelsea in 2012 but has been loaned out five times, taking in spells with Stoke City, Liverpool, West Ham United, Fenerbahce and Inter. FacebookTwitterWhatsAppEmail分享 last_img read more

Coega crude refinery ‘on track’

first_img20 February 2008The Petroleum, Oil and Gas Corporation of South Africa’s (PetroSA’s) plans to build a crude refinery at the Coega industrial development zone outside Port Elizabeth have been given a boost, with the announcement on Monday that the state-owned oil company has been chosen as the preferred investor for earmarked land.“Planning for the new refinery is well under way,” PetroSA CEO Sipho Mkhize said in a statement on Monday. “Design is well-advanced and we are in discussion with several local and international parties who have expressed interest in possible financial and operating partnerships.”According to the company, a final decision on the investment, said to be worth about R39-billion, will be made around 2010, once the technical and commercial aspects have been clarified.Mkhize said that while it was being built to secure future fuel supplies in the country, the decision to locate the refinery at Coega was not solely based on commercial criteria.“This location also considers national interests such as alternate strategic access, port decongestion, wealth-generation equalisation and potential environmental impact,” Mkhize said. “PetroSA’s planning includes the provision of new oil terminals and upgrades at Cape Town, Mossel Bay, Port Elizabeth, Durban and Gauteng.”Project MthomboDubbed Project Mthombo, the proposed crude oil refinery is expected to produce about 250 000 barrels of fuel a day and is due to be operational by 2014.“Project Mthombo will be one of the biggest post-2010 investments in South Africa,” Mkhize said at the time of the project’s announcement late last year. “It is estimated that the project will generate about 5 000 direct jobs during operations and 20 000 indirect jobs.”The project, he said, would also significantly improve South Africa’s fuels import bill, serving to “redefine South Africa’s energy landscape.”Based on the current growth rate of demand for fuel, Mkhize said that building a new crude oil refinery within the next five to seven years would be fully justified.“The demand for automotive fuels in southern Africa already exceeds the local production capacity, and South Africa is becoming increasingly dependent on the import of refined automotive products.”Coega IDZAccording to PetroSA, the Coega industrial development zone (IDZ) was chosen as the site for the proposed new refinery after a thorough and independent screening of five potential locations around South Africa.The oil company said that Coega offered world-class infrastructure, was ideally located near growing demand centres in the Eastern and Western Cape and had sufficient land available for secondary industries to develop around the refinery.PetroSA added that it believed that strong and complementary partnerships would be required to carry out a project of such a size and nature, both to mitigate any project related risk and to enhance the commercial and financial viability of the project.“These partnerships will be established across the crude refining value chain, from the supply of crude oil, through the erection and operation of the refinery to the distribution and marketing of the automotive products,” Mkhize said.“PetroSA is already in discussion with various potential partners to help bring Project Mthombo to fruition.”SAinfo reporter Want to use this article in your publication or on your website?See: Using SAinfo materiallast_img read more

a month agoBournemouth boss Howe: Southampton clash will be really feisty

first_imgAbout the authorPaul VegasShare the loveHave your say Bournemouth boss Howe: Southampton clash will be really feistyby Paul Vegasa month agoSend to a friendShare the loveBournemouth boss Eddie Howe expects the tackles to fly tomorrow night against Southampton.Southampton meet traditional rivals Portsmouth in the Carabao Cup on Tuesday, but Howe feels Bournemouth’s games against the Saints are “gaining in everybody’s focus”.”It should be a really feisty game, a really good atmosphere and an entertaining match,” Bournemouth boss Howe told Sky Sports. “Southampton have started very well, too.”It’s gaining in everybody’s focus. The more games we have, the more the rivalry will intensify I think.”We’ve enjoyed the games against Southampton which have been tight and tough, from both clubs’ perspectives. We’re looking forward to another entertaining match.” last_img read more

Nova Scotia election roundup

first_imgHALIFAX – (Liberals-Caregivers)The Liberals say they will spend $25 million expanding eligibility for the caregiver benefit over four years.The program gives about $400 a month to those caring for people with severe dementia.Premier Stephen McNeil says the program would be expanded to include 400 people who care for those with lower levels of dementia this year and another 1,200 people caring for those with mental illness in 2018.He says the change will mean about 1,600 more Nova Scotians will qualify for financial help.(The Canadian Press)—(NSHA-Executive-Furniture)The NDP released documents showing the Nova Scotia Health Authority spent nearly $500,000 on new furniture and renovations for its executive offices.The documents show the furniture cost over $257,000 while the renovations came in at just under $195,000.NDP Leader Gary Burrill says after cuts to long-term care in particular, Premier Stephen McNeil owes an explanation for the expenses.McNeil says the cost of the furniture “makes no sense to me,” and spending that kind of money at a time when money is needed for care in the health system is “excessive and inappropriate.”(The Canadian Press)—(NSElxn-Tories)Nova Scotia’s Progressive Conservatives are promising to bring back a refundable film tax credit.Tory Leader Jamie Baillie has announced $34 million to revive the credit in a bid to aid the film and TV industry.He says the industry was set back when the Liberals controversially axed the tax in 2015.—(NSElxn-NDP)The NDP are pledging to restore funding for seniors’ care if elected May 30th.Leader Gary Burrill says $60 million over four years would be put towards long-term care for seniors.Burrill says he would also freeze pharmacare premiums and lobby for a national pharmacare plan.(The Canadian Press)—(Party-Nominations)Elections Nova Scotia says nominations for the May 30 vote have closed.It says 203 candidates have been nominated in the province’s 51 electoral districts.The Liberals, Tories and NDP have candidates in all 51 ridings.The Green Party has nominated 32 candidates while the Atlantica Party is running 15 and there are three Independents.(The Canadian Press)—(N.S. Election Roundup by The Canadian Press)last_img read more

Outstanding transactions at Phoenix pay centre surpass 500000 says minister

first_imgOTTAWA – The backlog of outstanding pay problems faced by federal civil servants has now reached a staggering 520,000, the minister responsible for the problem-plagued Phoenix pay system has revealed in a letter of apology to government employees.That number is expected to grow further, Public Services and Procurement Minister Carla Qualtrough said in the letter being circulated to federal civil servants over the next couple of days, which was provided to The Canadian Press.“I am truly sorry that more than half of public servants continue to experience some form of pay issue,” the minister’s letter states. “Too many of you have been waiting too long for your pay.”“Your stories of hardship caused by the backlog of financial transactions keep me awake at night.”The outstanding transactions include non-financial requests from employees, such as changes to banking or home address information.But it also includes 265,000 cases in which government workers have been underpaid, overpaid, or not paid at all and have waited beyond what the government considers an acceptable period of time for their issues to be resolved.In the letter, Qualtrough repeated what she and her predecessor in the portfolio have been saying for months — that the situation is “unacceptable.”And she emphasized that anyone working in government who is experiencing financial hardship as a result of pay problems can request an emergency salary advance.One major factor that has prevented the government from reducing the pay issue backlog was the recent need to retroactively adjust the paycheques of government workers after new collective agreements were ratified.So far, roughly 184,000 government employees have seen their paycheques adjusted to the new contracts, the minister said.But another 20,000 collective agreement payments have yet to be processed and the number is expected to grow in coming weeks as more renewed contracts come into force.Qualtrough said dealing with the pay system backlog will continue to be a slow process as the government seeks a “permanent solution” to the Phoenix debacle.But her letter made no mention of a call this week by one of the country’s biggest civil service unions to build an in-house pay system and to scrap the Phoenix system altogether.The Professional Institute of the Public Service of Canada said earlier this week that IT professionals already working within government can build and thoroughly test a new pay system within a year.The government has so far earmarked $400 million to fix the system and to deal with the existing pay backlog, partly by hiring more pay administrators at centres in Quebec and New Brunswick. But Qualtrough said in an interview aired last weekend that she could not guarantee the amount wouldn’t reach $1 billion.The government hasn’t hired nearly enough people, quickly enough, to deal with the massive backlog of pay cases, the Public Service Alliance of Canada said Thursday.“The government needs to step up its hiring process and expand the compensation capacity both in the pay centres and in departments,” said PSAC national president Robyn Benson.Initiated by the previous Conservative government in 2009, the Phoenix system was meant to streamline the payroll of public servants across dozens of departments and agencies, and save more than $70 million annually.In a joint statement issued Thursday, Qualtrough and Treasury Board President Scott Brison again accused the Conservatives of saddling the government with a “botched” system.“They rushed the design and implementation, did not train staff, all while firing 700 experienced pay advisers who were needed to make sure public servants were paid on time,” said the statement.The Conservatives have denied responsibility for the debacle, saying it was the Liberals, elected in 2015, who ultimately failed to heed warnings from civil service unions that the system wasn’t ready before fully launching it in April 2016.A report from an auditor general’s review of the Phoenix pay system problems is expected to be made public next week.— Follow @tpedwell on Twitterlast_img read more

Ohio State womens soccer splits weekend matchups

OSU sophomore forward Lindsay Agnew (20) throws the ball into play Oct. 24 in a match against Iowa at Jesse Owens Memorial Stadium. OSU lost, 2-1. Credit: Regina Bonfiglio / Lantern photographerWhile trying to keep its hopes of making the Big Ten Tournament alive, the Ohio State women’s soccer team fell to Iowa, but bounced back against Nebraska.The Buckeyes (6-9-3, 3-6-3) and Cornhuskers (7-9-2, 3-7-2) played to a scoreless first half on Sunday before OSU broke through with three goals in the second.Before the barrage of goals, OSU entered halftime with a 4-1 lead in shots and 2-1 lead in shots on goal. Coach Lori Walker said the team contained the Cornhuskers’ offense through teamwork.“Everything for us recently has just been about taking care of ourselves and not giving away opportunities for other teams to capitalize on,” Walker said. “You do that by playing together and playing as a united group.”Things picked up in the second half when Nebraska senior forward Mayme Conroy scored the first goal of the game off an assist from junior defender Jaylyn Odermann to give Nebraska a 1-0 lead in the 57th minute.The Buckeyes responded in the 76th minute when a cross from sophomore forward Nichelle Prince allowed freshman forward Sammy Edwards to tie the game.OSU went ahead in the 87th minute after freshman midfielder Nikki Walts nailed a 22-yard shot. The Buckeyes cemented the victory after Prince finished a breakaway into an empty net in the 90th minute to give OSU the 3-1 win.The Buckeyes outshot Nebraska, 25-7, in the game.Senior midfielder Ellyn Gruber said the Cornhuskers’ style of play was a challenge but OSU was able to match it.“They were very physical and very aggressive,” Gruber said. “I think we handled that aggression very well and played physical right back.”Walker praised the team’s ability to respond after giving up a goal in the second half. “If anyone has had the best training in adversity this season, it’s been our squad,” Walker said. “We got down and were able to pick ourselves back up.” The win was the first for the Buckeyes since defeating Northwestern on Sept. 28. OSU had gone 0-3-3 since that game. Prince said getting the win felt like the culmination of the stretch.  “We’ve been on a very long journey,” Prince said. “We’ve been working really hard and it’s been hard to get results, but we’ve pushed through and haven’t given up yet.”It was a different story when the Buckeyes played Iowa on Friday. The Hawkeyes took the early lead after senior forward Cloe Lacasse put a header in the back of the OSU net in the fifth minute. The rest of the first half remained quiet as the Hawkeyes took a 1-0 lead into halftime. Iowa scored again, as a free kick from senior defender Melanie Pickert doubled the lead in the 80th minute. OSU got on the board in the 86th minute after Prince converted off an assist from sophomore forward Taylor Schissler. The Buckeyes weren’t able to tie it up, giving Iowa the 2-1 win.The Buckeyes are scheduled to play their final game of the regular season against Rutgers on Friday at 7 p.m. at Jesse Owens Memorial Stadium. read more