Category: qwmzqibw

Too much debt in system, stocks may be stuck for years

first_imgBillionaire investor Leon Cooperman told CNBC on Friday that he was concerned about the long-term outlook for the stock market because “too much debt is being created.”“I think the overwhelming reality is the Fed is just creating this environment of free money. You have to kind of make a judgement whether that’s justified, how long it’s going to last and what impact this has on the longer-term outlook,” Cooperman said on “Squawk Box.”- Advertisement – “Longer term, I probably have a dissenting view than Wall Street because I’m of the concern as to who pays for the party when the party is over?’ added Cooperman, chairman of the Omega Family Office.Cooperman said stocks right now are adequately priced. But he said, “I went back and I looked. Whenever you bought into the S&P 500 when it sold at 22 times earnings or more, your five-year return that followed was near zero,” he added. “So I would not be surprised if the market averages very little.”In August, Cooperman also expressed worries about the long-term market outlook, following Wall Street’s robust rally from pandemic-driven lows in late March. “We’ve been pulling a lot of demand forward. I would expect that future returns will be relatively unimpressive for a long time,” he told CNBC then.- Advertisement – – Advertisement – Cooperman said Friday that he recognizes the need for near zero percent interest rates and extraordinary monetary stimulus to help a U.S. economy, which has been upended by the coronavirus pandemic. However, he said that such policy decisions are not without consequences. “There’s just too much debt in the system, and I think ultimately there will be a problem,” he said.But for now, Cooperman said he believes the near-term outlook for the stock market is “favorable,” due to Fed policy, and the impending clarity on the outcome of the presidential race between Democrat Joe Biden and President Donald Trump. He also said Congress may pass another pandemic stimulus package and added that positive developments on a Covid-19 vaccine should be a tailwind for stocks.“I’m assuming that in the next 12 or 18 months, something will happen to change this Goldilocks environment and it will force the hand of the Fed” to change policy, he said. “It might be the dollar going to new lows and inflation picking up.”- Advertisement – Cooperman, a major philanthropist and son of a Bronx plumber, said on CNBC on Election Day that he cast his ballot for Biden in the presidential race, saying he “voted my values and not my pocketbook.” Back in August, he said he was undecided, citing uncertainty over Biden’s policies and concern for Trump’s divisive demeanor.last_img read more

November 20, 2020 0

Offer solutions to Colonie landfill issue

first_imgCategories: Letters to the Editor, Opinion Re  Nov. 8 letter, “Plan to expand the Colonie dump stinks,” by John Kenney: I didn’t see you on the ballot on Nov. 7 to try to be elected and change the direction of Colonie. Maybe being from Clifton Park excluded you from running?If we close the landfill at the end of 2017, then what? Where do the thousands of residents and businesses take their garbage? Do they all have to hire private contractors to take it away? Where is “away?” The Albany landfill has faced the same issue for years.You close your letter by saying the trash has to go somewhere. If Paula Mahan is doing such a terrible job, why does she keep getting re-elected, even after calls to “Dump Mahan?”Here’s the answer to that question. You don’t just close a landfill without an alternative location in place. I noticed you did offer one. Where does the trash from Clifton Park go? Or Malta? Come up with some solutions before your next letter or throw you hat in the ring for the next election. NIMBY stands for “Not in my back yard.” In your case, it stands for “no ideas mentioned by you.”Ken KimballSchenectadyMore from The Daily Gazette:Schenectady, Saratoga casinos say reopening has gone well; revenue down 30%Motorcyclist injured in Thursday afternoon Schenectady crashFoss: Should main downtown branch of the Schenectady County Public Library reopen?Schenectady man dies following Cutler Street dirt bike crashSchenectady High School senior class leaders look to salvage sense of normalcylast_img read more

October 20, 2020 0

On “Jobs that Pay” Tour, Governor Wolf Visits Jyoti Natural Foods in Sharon Hill

first_img SHARE Email Facebook Twitter Jobs That Pay,  Press Release Sharon Hill, PA – Today on his “Jobs that Pay” tour, Governor Wolf visited Jyoti Natural Foods, a family owned business in Sharon Hill. Jyoti Natural foods currently employs 40 people with an additional ten jobs expected to be added this year. The majority of employees are immigrants and many of these employees have now worked for the business for 10-15 years.“Jyoti Natural Foods is a perfect example of how businesses that create a quality product, make smart investments, and value their employees can succeed in Pennsylvania,” said Governor Tom Wolf. “Not only does Jyoti make delicious food, they also support their community and create a positive working environment for their employees. I want to thank the Guptas for choosing Pennsylvania as the place to grow their business and I look forward to their continued success.”“We are thrilled to have Governor Wolf visit our plant.  We are a long-standing, family-owned Pennsylvania business that is proving that businesses can succeed and grow in our Commonwealth,” said President of Jyoti Natural Foods Dr. Vijai P. Gupta. “Over the coming year, we will be making a significant investment towards a growth plan that will grow our total jobs by approximately 20 percent.  We look forward to working with the Governor and his team in continuing to grow the Pennsylvania economy.”Jyoti Natural Foods was founded in 1979 as a pioneering venture to produce, package and supply high quality, nutritious Indian Foods to all who were familiar with Indian Cuisine. Today, Jyoti a large variety of Indian foods: shelf stable in cans and retort pouches like Chhole, Sambar, Karhi, Dal Makhani, Saag Paneer, Rogan Josh sauce, and refrigerated and frozen foods, and single serving condiments.Jyoti Natural Foods has invested $2 million in the plant since they opened it in 2006 and are planning an additional $1 million in machinery and marketing investment this calendar year.Like Governor Tom Wolf on Facebook: January 09, 2017center_img On “Jobs that Pay” Tour, Governor Wolf Visits Jyoti Natural Foods in Sharon Hilllast_img read more

October 16, 2020 0

Shareholder activism on rise as regulators get tough

first_imgThe most striking example of this was the introduction in the UK of a binding vote on executive pay policy, it said.The vote gives shareholders a right of veto, rather than just a right to advise, on boardroom pay, the firm explained.The annual review included details of companies where it had been influential in bringing about changes.Examples included RSA Insurance Group and Lazard, SLI said.Last year’s AGM season in the US had been particularly interesting, it added, with attention focusing on JP Morgan’s meeting, where a shareholder resolution sought to separate the roles of chairman and chief executive. In the UK, the issue of executive pay continued to dominate.SLI said that, after the experience of the Shareholder Spring in 2012, boards had been anxious to make sure their company was not the victim of investors’ ire.“As a consequence, we witnessed a high level of consultation between remuneration committees and investors designed to ensure that interests and views were appropriately aligned,” SLI said. A number of pay policies were improved and a number of controversial new schemes never saw the light of day, it added. Shareholder activism is increasing, and regulators are becoming more assertive in policing standards of corporate governance, according to UK asset manager Standard Life Investments (SLI).In its 2013 annual review of governance and stewardship – focusing on its own work with companies on behalf of investors – SLI said last year was characterised by “responsibilities and regulations” following 2012’s so-called Shareholder Spring.It said the emerging longer-term picture described in its report was one of increased shareholder activism. The firm said: “Regulators around the world introduced new laws and regulations designed to strengthen corporate governance, especially as it relates to executive pay and audit issues, giving shareholders new rights to hold boards of companies to account.”last_img read more

September 29, 2020 0

Consent for ConocoPhillips to use West Linus rig on Tor

first_imgOil major ConocoPhillips has received consent from the offshore safety body, the Petroleum Safety Authority (PSA), for production drilling on the Tor field off Norway using the West Linus drilling rig.West Linus; Image source: SeadrillThe PSA said on Friday that the consent covered the drilling and completion of eight production wells in connection with the new development of the Tor II field.The Tor field is located in the southern part of the North Sea, north-east of Ekofisk. ConocoPhillips operates the project with a 30,66 percent stake, Total owns 48,2 percent, Vår Energi 10,82 percent, Equinor 6,64 percent, and Petoro 3,69 percent.ConocoPhillips submitted a plan for development and operation (PDO) for a re-development of the Tor field to Norwegian authorities in July 2019. The Norwegian Ministry of Petroleum and Energy approved ConocoPhillips’ development plan for the Tor 2 earlier in November.The field was in production from 1978 until it was shut down in 2015 when the installation reached the end of its lifetime. At shutdown, just 20 percent of the resources in place had been produced.Tor will be re-developed via a two-by-four slot Subsea Production System (SPS) with eight production wells. The SPS is planned to be connected to the Ekofisk Complex by multiphase production and lift gas pipelines to existing risers at the Ekofisk 2/4 M wellhead platform. Controls and utilities are provided through a service umbilical from the same existing platform.Seven production wells are planned to be drilled in the Tor formation. In addition, a pilot well is planned to test long-term productivity in the Ekofisk formation. The resource potential for the Tor II project is in the range of 60-70 million barrels of oil equivalent.The recoverable reserves are estimated at 10 million standard cubic meters of oil equivalents (Sm3).The plan is to re-start production in late 2020. The total investment costs for the re-development are estimated at NOK 6.1 billion ($664 million).It is worth noting that the Norwegian Ministry of Petroleum and Energy approved ConocoPhillips’ development plan for the Tor 2 earlier in November.As for the West Linus, it is a jack-up rig of a Gusto MSC CJ70-X150A type. The rig is owned and operated by Seadrill.Spotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email. Also, if you’re interested in showcasing your company, product or technology on Offshore Energy Today, please contact us via our advertising form where you can also see our media kit.last_img read more

September 28, 2020 0

Joanne Woolston, 56

first_imgJoanne Woolston, 56, Letts, Indiana, passed away on Monday, January 9, 2017 at her residence.Born July 7, 1960 in Greensburg, Indiana, she was the daughter of Donald Ray Dyer and Wilma Jean (Maple) Chandler.Joanne was a member of the American Legion Ladies Auxiliary.  She had worked as a dietary aide for several years at the Decatur County Memorial Hospital.  She was a loving mother, sister, and friend.She is survived by three sons, Donald Powers, Jr, Greensburg, Kelly Powers, Greensburg, Cody Woolston, Greensburg; five brothers, Billy Ray Dyer, Greensburg, James M. Dyer, Greensburg, Ronald Dyer, Greensburg, David Dyer, Greensburg, Charles Dyer, Milroy; five sisters, Darlene Roberts, Greensburg, Phyllis Bolden, Milroy, Brenda Kay Powers, Greensburg, Betty Zapfe, Westport, Janet Hankins, Milroy; six grandchildren; several nieces, nephew, and cousins.She was preceded in death by her father and step mother, Frieda Dyer.Visitation will be held on Thursday from 4 to 8:00 p.m. at the Porter-Oliger-Pearson Funeral Home in Greensburg.Funeral Services will be held at 11:00 a.m. on Friday, January 13, 2017 at the funeral home with Rev. Ron Simbro officiating.Interment will be held in the South Park Cemetery.Memorials may be made through the funeral home to the family for help with the purchase of a headstone.Online condolences can be made to the family at www.popfuneralhome.comlast_img read more

September 24, 2020 0

WADA hands over findings on Russian athletes

first_img(REUTERS) – THE World Anti-Doping Agency (WADA) said on Thursday its investigation into 298 Russian athletes targeted in a doping probe has been completed and the findings passed onto international federations for further action.Code named “Operation LIMS”, the probe conducted by WADA’s Intelligence and Investigations committee examined institutionalised doping in Russia using data mined from the Moscow laboratory at the heart of the scandal.The investigation, which took a year to complete, was complicated because Russian officials at first refused WADA investigators access to material in the Laboratory Information Management System (LIMS) and were later found guilty of tampering with that data.As a result of the tampering, Russia was declared non-compliant late last year and handed a four-year ban.Russia is in the process of appealing against the ban on its athletes competing at major international sporting events under their flag as punishment for that alteration of laboratory data.Of the 298 cases handed over 153 were unaffected by the alleged manipulation, WADA said.Investigation packages of all 298 cases have now been turned over to 28 Anti-Doping Organisations (ADOs), including 27 International Federations (IFs) and one major event organisation who have to decide in each case whether to bring it forward.WADA said it will discuss the facts with each ADO and will review the decisions rendered by the ADOs and appeal, if appropriate, to the Court of Arbitration for Sport (CAS).“This has been the most complex enquiry in anti-doping history and WADA’s investigations team has been doing an outstanding job,” WADA president Witold Banka said in a statement.“It has been a huge undertaking, involving thousands of samples, 24 terabytes of data, hundreds of athletes across 28 organisations, and it is delivering real results.“The Russian doping crisis has dominated WADA’s time and resources over the past five years and the Agency’s investigations team has been on the frontline,” Banka added.“This is not the end of the road. There is still more reanalysis of the samples retrieved from the former Moscow Laboratory that is ongoing.”last_img read more

September 18, 2020 0

New guidelines against spitting, other related football offences

first_imgIN AN effort to prevent the possible spread of the coronavirus, the Fédération Internationale de Football Association (FIFA) has issued guidelines relative to penalisation of spitting and other related offences during play in response to organisers, who “have issued protocols recommending that players refrain from spitting and similar actions such as nose-clearing during matches.”In a correspondence dated May 27, FIFA advised the following: “Spitting at someone is a sending-off (red-card) offence under the Laws of the Game.However, where spitting does not fall into this category, it would be impractical to make it a yellow-card (YC) offence because it is impossible for the match officials to detect every incident, as spitting can occur anywhere on the pitch, at any time and often away from play (e.g. as players move to take up a position before the next sequence of play). Consequently, treating ‘general’ spitting and other such actions as a YC offence during matches would lead to inconsistency and unfairness.”As a result, FIFA noted, “where a competition wishes to enforce protocols regarding spitting (and other related areas), any disciplinary decision should be taken by the relevant competition organiser or member association after the match.last_img read more

September 18, 2020 0

Early season television schedule revealed

first_imgThe kickoff times and television plans for four of USC’s first five football games in the upcoming season have been locked in.The Trojans kick off the season at the Coliseum against Hawaii on Sept. 1 at 4:30 p.m. The contest will also be broadcasted live on Fox.USC’s following road game against Syracuse on Sept. 8 begins at 12:30 p.m. and airs live on ABC.USC will take on Stanford in Palo Alto on Sept. 15 at 4:30 p.m. on Fox.Though the kickoff time for USC’s following home matchup against California on Sept. 22 has not been released, it has been confirmed that the game will air on the new Pac-12 Network.The Trojans’ Thursday game at Utah on Oct. 4 begins at 6 p.m., broadcasted by ESPN.The start times and television plans for USC’s remaining eight games will be released six to 12 days prior to game day.The only exception is USC’s regular season finale against Notre Dame at the Coliseum on Nov. 24, which will air on either ABC or ESPN. The kickoff time has not yet been determined.last_img read more

September 17, 2020 0

Syracuse’s 4th quarter offense leads to 67-65 comeback win over Virginia Tech

first_img Facebook Twitter Google+ Published on January 31, 2020 at 12:24 am Contact David: It’s rare for Syracuse to start a game as well as it did Thursday night. The Orange have been outscored in the first quarter for five consecutive games—four of those ended in losses. After a 3-for-3 start from the field against Virginia Tech, SU’s scoring woes looked to be at least temporarily solved, perhaps long enough to earn a win and keep its tournament hopes alive.It didn’t take long for Syracuse’s start to turn. Starting at the 7:51 mark of the first quarter, the Orange failed to score over the next nine minutes and 41 seconds. It took SU more than 10 minutes to reach double digits, a mark it was just a basket away from after two minutes.As Syracuse (10-10, 4-5 Atlantic Coast) gradually chipped away at a 16-point deficit over the next two-and-a-half quarters, its offense changed, particularly in the final frame. Point guard Kiara Lewis spearheaded a comeback that culminated with her game-winning layup with 4.6 seconds remaining, the final touch in a 67-65 victory over Virginia Tech (15-5, 5-4 Atlantic Coast) on Thursday night in the Carrier Dome.“It started with our bigs, they were making plays in the post and it opened up driving lanes for me,” Lewis said. “We were dumping it down there, I was able to finish.”Among SU’s problems during its recent skid has been its offense, almost everything about it. Including Thursday night, the Orange have shot 16-for-69 (23.2%) from behind the arc in the last three games. Lewis has remained the Orange’s top scoring threat, but forced shots and turnovers have proved costly. Digna Strautmane, SU’s sharpshooter, is 6-for-35 (17.1%) from deep in the last six games. Emily Engstler had two points in losses to Georgia Tech and Duke, her lowest totals of the season.AdvertisementThis is placeholder textSyracuse head coach Quentin Hillsman has said throughout the season that the 3-pointer is a crucial part of the team’s gameplan, and SU aims to make 10 long balls per game. The Orange haven’t reached that clip since their 84-76 loss to Michigan on Dec. 5. Twelve games have passed since. On Thursday night, the 3-ball wasn’t working, so SU altered its plan on offense in the second half, a change spurred by assistant coach Vonn Read.“Vonn told us we need to start running some stuff to get the ball into the paint,” Hillsman said. “We started calling sets to get the ball posted to that midline, so credit goes to the players for making the shots and Vonn for getting me back focused on the sideline.”Down 57-47 with nine minutes remaining, the Orange’s offense switched on. Lewis stopped settling for jumpers, instead driving to the paint and using her instinct to decide whether to pass or shoot. Unlike the first half, the Chicago native’s decision-making and finishing around the rim was smart and swift. As she began to get Amaya Finklea-Guity, Maeva Djaldi-Tabdi and Engstler involved, SU’s comeback bid became a reality to the excited Carrier Dome crowd.“Everybody can play,” Lewis said about Syracuse’s turnaround. “There are no bad basketball players on our team and I mean, that’s what’s expected.”Lewis brought the deficit back to single-digits with just over six minutes remaining in the game. She inbounded the ball to Finklea-Guity, quickly got it back, then collided with two Hokies defenders as she rose for a layup. And-1. Two minutes later, Finklea-Guity drilled a hook shot followed by an Engstler 3, one of SU’s two attempts from behind the arc in the final quarter.The Orange continued to pound the ball inside to Finklea-Guity and Djaldi-Tabdi, who combined for eight of Syracuse’s 22 points in the fourth quarter. Down by two with a minute to go, Engstler fed Djaldi-Tabdi in the paint where she backed Elizabeth Kitley towards the basket. Djaldi-Tabdi spun left and converted the game-tying layup. A stop on the other end 30 seconds later meant SU would have the final shot.Lewis hovered around the top of the key and did exactly what propelled the Orange back into the game — attacking the rim. She went straight at Kitley and cut left, giving herself the separation needed to float the ball over the defender’s hand and off the backboard. From there, it dropped into the basket, and somehow SU was back in the lead, something it held for less than two minutes of the game.Staring at the box score as she answered questions from the media postgame, Gabrielle Cooper, Syracuse’s only rostered senior, reflected on what was a special and perhaps season-altering comeback win.After a 30-point blowout loss to Duke a week ago, Cooper said SU needed to “make a commitment to making stops, to playing defense” while continuing to score. On Thursday, Syracuse did just that.“I’m just looking at the numbers and I’m so proud,” Cooper said. “We held them to nine points in the fourth quarter and we were outscored every other quarter. So we literally needed every bucket we scored and we needed to close down the top. And we did.” Commentslast_img read more

September 16, 2020 0