Isle Of Man Real Estate – MHKS Fri, 04 Jun 2021 18:56:40 +0000 en-US hourly 1 Isle Of Man Real Estate – MHKS 32 32 Billionaire David Tepper bets on 3 big buy stocks Fri, 04 Jun 2021 13:27:26 +0000

Eevery investor wants an entry, a key to unlock the best returns on the markets. For some, that key is found by following legendary market investors, stock market gurus who have leveraged their intuition and knowledge to build multibillion dollar fortunes. And among these legendary investors, David Tepper stands tall.

Tepper is the co-founder of Appaloosa Management, which he launched in 1993 after leaving Goldman Sachs. The hedge management company took off with an initial capital of $ 57 million, and since then it has never stopped growing; Appaloosa had $ 12 billion in assets under management in 2021.

In reviewing the Appaloosa equity basket, we chose three of the fund’s new holdings that TipRanks Database turns out to be “solid buys” and offers healthy upside potential. Let’s take a closer look and see what Wall Street analysts have to say.

Paysafe (PSFE)

Based on the Isle of Man under UK regulations, Paysafe is a multinational online payments processor, offering services through its namesake brand as well as through its subsidiaries including Neteller and Skrill. The company had a transaction volume of $ 92 billion last year, from businesses and consumers in 40 currencies around the world. Paysafe’s payment solutions are designed for mobile use and offer real-time analytics.

Like many companies over the past two years, Paysafe has jumped on the SPAC wagon, entering the public market through a merger transaction with a Special Purpose Acquisition Company (SPAC), in this case Foley Trasimeno Acquisition Corporation II. Paysafe and Foley completed the merger process in March of this year, and on March 31, PSFE shares began trading on the New York Stock Exchange.

Last May, Paysafe published its first report on results as a public company. For the first quarter, the company reported revenue of $ 377.4 million, up 5% year-over-year, derived from a total payment volume of $ 27.7 billion. dollars, up 8% year-on-year. The company strengthened its balance sheet with a one-time debt reduction payment of $ 1.2 billion, made after the PSPC merger, and ended the quarter with free cash flow of $ 108.5 million, in 28% increase over the quarter of last year.

Tepper, in his 13F file for the first quarter, revealed that his fund had bought 10 million shares of PSFE, a huge investment in the new stock. At current appraisal, this stake is worth $ 118.2 million.

Paysafe Coverage for RBC, 5 Star Analyst Daniel Perlin reminds investors that there are significant gains in reserve for the PSFE in 2021. Perlin rates the PSFE as an Outperforming (i.e. a Buy), and its price target of $ 19 implies an increase of 61% within one year. (To see Perlin’s track record, Click here)

“We believe that PSFE offers a unique combination of digital wallet capabilities, accelerated cash conversion for consumers who would otherwise be outside the ecom loop, and integrated payments, all focused on specialized and complex end markets, creating a competitive gap and pricing power, ”Perlin said.

Perlin adds that Paysafe offers one of the best combinations of services in the online payment space: “PSFE has created a unique bilateral network allowing merchants to accept payments online and in store (in specific vertical niches) , while providing consumers with a digital wallet and eCash solution, which converts large cash users into digital users. We believe that it is this combination that allows PSFE to generate participation rates higher than those of its peers.

Overall, it’s clear that Wall Street analysts generally agree with Perlin. Paysafe has registered 6 reviews, and all are positive, making the analyst consensus a strong buy. The average price target of $ 17.67 suggests a ~ 50% rise from the trade price of $ 11.82. (See the analysis of PSFE shares on TipRanks)

Baidu, Inc. (BIDU)

Tepper’s next pick is from China. Baidu is the largest online search engine in this country and, in fact, the largest Chinese language internet search platform. The 1.3 billion Chinese speakers make up the largest single language block in the world and give Baidu a huge natural user base. Baidu’s holds over 76% of the search engine market share in China, making it the second largest search engine in the world, and is investing heavily in AI initiatives. The company has a market capitalization of $ 64 billion.

So Baidu is great. It reached $ 4.3 billion in revenue for 1Q21, up 25% year-over-year. Diluted EPS, at $ 11.66, was light years away from the 1 cent value a year ago, and up 404% from $ 2.31 reported in 4Q20.

All of this – the strong leadership position in the research market in China and the strong earnings report – makes Baidu attractive. David Tepper, for his part, took a small step on this stock, with an initial position of 45,000 shares purchased during the first quarter. This block of shares is worth $ 8.83 million at current prices.

5 Star Analyst Jiang fawn, of Benchmark, writes of BIDU: “We are positive about the long-term growth prospects of AI-based companies in China, and BIDU is poised to benefit from favorable industry trends as a main player in AI. We believe BIDU is well positioned to become a significantly expanded TAM by capitalizing on growth opportunities in the cloud, smart transportation, smart driving, and other AI initiatives.

To that end, Jiang rates BIDU stock as a buy, with a price target of $ 370 to indicate a rise of around 95% over the next 12 months. (To look at Jiang’s background, Click here)

The word in the streets is extremely bullish for this tech stock, as TipRanks analyzes present BIDU as a strong buy. Of 19 analysts surveyed in the past 3 months, 16 say Buy while the other 3 say Hold. With a potential return of 62%, the consensual target price for the stock is $ 308.13. (See the analysis of BIDU shares on TipRanks)

DR Horton, Inc. (DHI)

Finally, Texas-based DH Horton is the largest homebuilder in the United States, by volume. The company operates in 91 markets in 29 states and has held a leadership position in the industry since 2002. In the past 12 months ending last March, DH Horton has closed 76,330 new homes. The company builds homes in a wide range of price ranges, from $ 150,000 to $ 1 million.

Over the past 12 months, shares of DHI have risen steadily. The stock rose 63% during that time, topping the S&P’s 37% year-over-year gain. In the most recent quarterly report, for fiscal 2Q21, DHI announced a 95% year-over-year increase in EPS, to $ 2.53, while revenue increased 43% to 6 , $ 4 billion. These gains come as the real estate industry recovers from the COVID pandemic. The company saw its net sales orders increase 35% from the quarter last year, to 27,059 units. The aggregate value of those orders was $ 8.8 billion, up 47%.

In addition to the ever increasing share price and financial results, DHI pays a modest dividend. At 20 cents a share quarterly, it returns a modest 0.8%; the important point here is not that the dividend is important, but that it is reliable, with a history of growth of 7 years behind it. This is another regular comeback from this solid company.

David Tepper, for his part, saw a lot to like about this stock, and his fund opened its DHI position with 1,165,000 shares, now worth $ 111 million.

BTIG Analyst Carl Reichardt also counts as a fan. Reichardt gives DHI shares a buy rating, and his price target of $ 124 suggests the stock is up 36% year-over-year. (To look at Reichardt’s record, Click here)

“This was another exceptional quarter, and DHI remains our preferred choice of large cap stocks given the company’s deep local market share positions, substantial relative growth, an efficient production business model, breadth of geographic markets, affordable entry-level domestic approach, consistent cash generation and conservative leverage, ”noted Reichardt.

Overall, analysts’ consensus on IHD is not unanimous, but almost. The consensus strong buy rating is supported by 11 buys against a single take. The shares are selling for $ 91.33 and the average price target of $ 110.25 indicates a rise of 21%. (See the analysis of DHI shares on TipRanks)

To find great ideas for trading stocks at attractive valuations, visit TipRanks’ Best stocks to buy, a recently launched tool that brings together all the information about TipRanks equity.

Warning: The opinions expressed in this article are solely those of the analysts presented. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Waterfall City developer Attacq has now sold more than R12 billion to MAS Wed, 02 Jun 2021 22:01:12 +0000

JSE-listed real estate investment trust (Reit) Attacq aggressively cuts its debt-to-loan-to-value (LTV) ratio with news of another asset sale on Tuesday as it weathered the financial crisis of Covid-19.

The group, which is the developer of Waterfall City’s multibillion Rand mega-development in Gauteng and majority owner of Mall of Africa, revealed in a statement from Sens that it had sold an additional Rand 328 million stake in MAS Real Estate to three South Africans. fund managers.


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This follows the sale of two stakes in European-oriented MAS in December 2020 and March of this year, for a total of R888 million.


The R500 million sale in December was to an investment company linked to the Oppenheimer family, while the March deal was with PKM Development Limited.

With this week’s deal, that effectively means Attacq has sold around two-thirds or just over Rand 1.2 billion of his stake in the Isle of Man-based group since December of this year. last.

Before the disposals, Attacq held a 20.7% stake in MAS, valued at 1.8 billion rand. This made it the largest shareholder in the offshore fund, which incidentally has a secondary listing on the JSE.

Much of the sales money is used to repay the South African Reit’s euro debt, which will also help reduce the group’s gearing or LTV levels.

Attacq’s LTV crossed 46% in December 2020, prompting the group’s leaders to approach its banks to bring the fund’s level of covenant to 60%.

It came in the wake of the financial fallout from Covid-19, which saw the group’s property valuations and stock prices plummet last year. This in turn has seen its LTV ratio skyrocket, as has been the case with several other investment firms such as Redefine Properties and Rebosis Property Fund.


The last sale by Attacq of its investment in the MAS was made at a discount, according to its press release from Sens.

“The sale price of R16 per MAS share represents a 3% discount from the closing spot price of R16.50 on May 28, 2021. [being the date prior to the agreement of terms] and a 3.7% discount from the 30-day volume weighted average price of R16.61 on the same date, ”he noted.

This discount indicates a sort of forced sale given that Attacq and his JSE-listed colleague Reit Hyprop are currently struggling to sell their joint assets in the rest of Africa.

“The proceeds of the sale will be used to settle Attacq’s remaining debt in euros and finance future development opportunities,” he said.

“Attacq does not intend to sell any of its remaining MAS shares in the foreseeable future,” he added.

However, while the group said late last year that it was looking to divest around R2 billion in assets to strengthen its balance sheet and improve LTV levels, it did not mention that it was considering selling its stake in MAS at the time.

“This sale is in line with Attacq’s stated desire to reduce its overall indebtedness and improve its interest coverage rate. Following the [latest] sale, Attacq’s remaining stake in MAS will be 46,157,934 shares, representing 6.5% of the issued share capital of MAS ”, he specified in the Sens press release.

Attacq stated that the buyers and the portion of the sale proceeds attributable to each buyer (in connection with the last sale of MAS shares) are as follows:

  • Prudential Investment Managers (on behalf of the underlying clients in terms of discretionary mandates) – 12 million shares for 192 million rand
  • Meago Asset Managers (on behalf of its clients) – 5.5 million shares for 88 million rand; and
  • Sesfikile Capital (on behalf of its clients) – three million shares for R48 million.

“The disposals are not subject to any condition precedent and will be carried out by way of off-market block transactions on or around June 2, 2021,” Attacq specified.

Speaking to Moneyweb about Attacq’s latest sale to MAS, Garreth Elston, chief investment officer at Reitway Global, said the move made sense because it means South African Reit would structure its business better.

“From the point of view of an Attacq investor, it is also more efficient because if investors want exposure to MAS, they can get it directly, rather than owning shares in a company with some ownership. SA in addition to MAS, ”he explained.

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Do your kids know how to survive a rising tide? Tue, 01 Jun 2021 10:00:42 +0000

On my first live broadcast from the legendary Asbury Park promenade, I had the privilege of meeting local Oceanic expert Don Walsh. Speak of an awesome person … Don is on a mission to teach others about safety at sea, prepare Olympic swimmers and even prepare Navy SEAL candidates for rigorous aquatic missions. So when I had questions about my kids and the currents, I’m pretty sure I asked the right guy.

Just check out this resume … he has competed in open water races ranging from 1 mile to 10 km for the past 41 years. He completed these swim marathons: Key West (12.5 miles) … Mays Landing River (21 miles) … Manhattan Island (28.5 miles – 3 times) … and Jersey Island in England (41.5 miles). He has coached at club, high school and college level. In addition, Don has traveled the country for 6 years working with two former Olympic swimmers and Olympic swimming coaches to organize swimming clinics for high schools, colleges and adult triathletes. And for 22 years, he has taught Combat Side Stroke and mentored more than 7,400 Navy SEAL candidates. Of course, he did not leave out the little ones … Don has also written a children’s book on safety at sea, called “Teach the Beach”.

Listen to Shannon Holly Mornings on 94.3 The Point and download our free 94.3 The Point app.

photo by Devon daniel at Unsplash

What is the biggest danger we need to watch out for when swimming in the ocean? Rip Currents … generally we have a SE wind during summer afternoons. Winds push surface water against rocks and wooden jetties, creating a backflow as the water rushes out to sea.

What safety advice would you give to parents of children who have difficulty swimming? Even if you go to the same beach every summer, it’s a good idea to talk to lifeguards before you go for a swim. Storms change their background during the winter and where you could stand last summer you may not be able to stand this summer. Lifeguards are the beach experts and will advise you on where to swim safely. As always … “When in doubt, don’t go out!”

What defines a good swimmer? A strong swimmer is someone who knows the right technique and trains for open water. Just because you can swim comfortably in a pool doesn’t mean you’ll enjoy the same comfort in the ocean with waves, currents (return currents and currents), tides, and cooler water than in a swimming pool. . Not to mention the lack of visual feedback to keep you on track like lane lines and lines at the bottom of the pool.

How does someone condition themselves to hold their breath for longer underwater? Conditioning yourself to hold your breath underwater is not a good idea. Even though recruits must swim underwater the length of a 50 meter pool at BUDS (Basic Underwater Demolition SEALs), we are not allowed to teach our candidates as it is not safe. If a candidate pushes his or her limits and passes out in a swimming pool, it can be fatal. We teach them how to swim effectively underwater but only over very short distances.

What do you do if you get caught in a rip current or get stuck in the water? Call for help and wave your arms to alert people on the beach. If you get caught in a reverse current, DO NOT fight the current, let it take you out to sea past the waves. Once you get past the waves you can swim or paddle doggy style around the current to shore or float on your back until help arrives (first responder – police). You are very buoyant in salt water, so it should be easy to float on your back.

Can we identify the return currents before entering the water and what would we experience if we got caught in one of them? Return currents are usually a different color from the rest of the water and are usually found next to a rock or wooden jetty. They can also be found in the middle of the beach if there is a break in the sand bar where water can collect and flow back out to sea. DO NOT fight against the current … swim or paddle doggy style parallel to the beach to get out of the current. If you can’t swim or paddle with your dog … Flip … Float … & Follow … Flip on your back … Float … And follow the current past waves and danger . Once past the return current, you can swim or row doggy style all the way to shore. Keep in mind that a return current does not pull you underwater, it pulls you out to sea beyond the waves.

Take a dip in New Jersey’s most breathtaking backyard pools

KEEP READING: Discover The Richest Person In Each State

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Lil ‘Kim’s Memoir, “The Queen Bee,” Set to Release This Fall | Daily break Mon, 31 May 2021 04:00:00 +0000

Lil ‘Kim finally tells the story of his life.

The Grammy Award-winning hip-hop icon is releasing her first memoir, titled “The Queen Bee,” on November 2, which she recently announced on Instagram.

“IT’S FINALLY HERE !! That’s right, the book Lil ‘Kim The Queen Bee Life Story. I am so excited to announce the release of my memoir in November !! You thought you knew me but you have no idea, ”Lil ‘Kim (real name Kimberly Denise Jones) wrote with a wink emoji.

Lil ‘Kim’s memoir, “The Queen Bee,” will be released on November 2.

Written with acclaimed author and journalist Kathy Iandoli, the tome will feature a behind-the-scenes account of the multi-platform rapper’s life and career – from her Brooklyn debut through her teenage years with the Notorious BIG to her trailblazer. solo hip-hop career.

A former writer for and other reputable trendy outlets, Iandoli previously published the books “God Save The Queens: The Essential History of Women in Hip-Hop” and “Commissary Kitchen: My Infamous Prison Cookbook” with rapper Mobb Deep, Prodigy.

One of the most successful artists of her time, Lil ‘Kim will also talk about her high profile, complex relationships, the misogyny she faced in the music industry, her self-image in the spotlight. and when she finally got her to jail. the book, which will be published by Hachette Book Group – the largest publishing house in France.

“I’m so glad I can finally tell my story after all this time,” the “Magic Stick” lyricist (real name Kimberly Denise Jones) said in a statement. “A lot of people thought they knew Lil ‘Kim’s story, but they have no idea. I am delighted [co-author] Kathy [Iandoli] and I created something special with Hachette Books for my fans.

The 46-year-old mother has already signed a lucrative book deal with Simon & Schuster to write her memoir after her one-year stint at the Philadelphia Detention Center. In 2004, the literary publishing giant canceled the rapper’s contract and demanded his $ 40,000 advance.

“The Queen Bee” will be released in tandem with the 25th anniversary of Lil ‘Kim’s debut solo album, “Hard Core.”

Hachette described the book as “a true page turner from start to finish (who is) just as fierce, empowering and badass as the woman at the heart of this story – and firmly cements her legacy as a true feminist icon.” .

Selling over 30 million singles worldwide and over 15 million albums since its breakthrough in 1994 alongside Brooklyn-born rap collective Junior MAFIA, the former Atlantic Records hitmaker was the protégé and the lover of the last rap boss The Notorious BIG in the 1990s.

With his bold lyrics and sexually explicit character, Lil ‘Kim paved the way for current rap superstars Nicki Minaj, Cardi B and Megan Thee Stallion.

Copyright 2021 Tribune content agency.

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Presque Isle Lighthouse opens for the season – WJET / WFXP / Thu, 27 May 2021 21:55:46 +0000

4 injured, horse dead after buggy and van crash in Mercer County

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UK competition regulator examines $ 39 billion AstraZeneca-Alexion deal Tue, 25 May 2021 06:15:55 +0000

Globe Newswire

$ 1.83 Billion in Electroencephalography (ECG) Devices Market, 2028

Dublin, May 25, 2021 (GLOBE NEWSWIRE) – The Analysis Report of Electroencephalography Devices Market Share, Size, Trends, by Modality; by application; by product; by end use; by regions; Segment forecast, 2021-2028 “The report has been added to the offering of According to a new study, the global market size for electroencephalography (EEG) devices is expected to reach USD 1.83 billion by 2028.The autonomous segment dominated the global electroencephalography devices market in 2020. However, the market demand for portable EEG devices is expected to increase during the forecast period.Wearable electroencephalography (EEG) devices are growing. used in outpatient centers and patient home care Some advantages associated with the portable device market segment include cost reduction, mobility, light weight, shorter set-up time and reduced patient travel. The different applications of electroencephalography machines include trauma and surgery, disease diagnosis, anesthesia monitoring, s sleep monitoring, etc. Electroencephalography machines are increasingly used for the diagnosis of diseases such as brain tumors, brain damage caused by head trauma, brain dysfunction, brain inflammation and stroke, among others. Electroencephalography machines allow doctors to diagnose disease and determine its stage, plan treatment, and monitor the progress of treatment. The detailed information provided by these devices enables neurologists to offer effective treatment. The 32-channel EEG market segment has dominated the global electroencephalography device market in 2020. The need for high scanning speed , increased efficiency and improved patient experience increased adoption. 32-channel EEG devices. The growing need for neuro-scans, the increase in the geriatric population, and the increase in healthcare spending in developing countries, such as India, China and Japan, are driving the adoption of healthcare systems. electroencephalography Electroencephalography devices are used in hospitals, clinics, diagnostic centers and research. laboratories and others. The hospital market segment accounted for the highest share in 2020. The increasing occurrence of neurological diseases, coupled with government initiatives to provide advanced health services to citizens, is supporting the growth of this segment. The availability of state-of-the-art equipment and financial funds, supporting government initiatives, and the introduction of medical programs have increased adoption of electroencephalography devices in hospitals.North America has dominated the global market for electroencephalography. electroencephalography devices in 2020 and is expected to maintain its dominance during the forecast period. . The increasing occurrence of neurological diseases, the availability of technologically advanced equipment, and the presence of well-established healthcare infrastructure are increasing the demand for electroencephalography devices in North America. experience significant growth during the forecast period due to increasing population, increase health awareness and increase health spending. The main global players are expanding their presence in the developing countries of China, Japan, India and South Korea to exploit the growth opportunities offered by these countries. Company Profiles MedtronicCadwell Laboratories Inc.Neurosoft Ltd. Compumedics Ltd. Elekta ABNeuroWave Devices Inc.Electrical Geodesics Inc.BrainScope Company Inc.Koninklijke PhilipsNatus Medical Inc.Nihon Kohden America Inc.Noraxon USA Inc.Lifelines Neurodiagnostic Devices Inc. Jordan NeuroScience Inc. Cephalon A / S. Scope of Report Electroencephalography (EEG) Devices Modality Outlook PortableStandalone Electroencephalography (EEG) Devices Application Outlook Trauma & SurgeryDisease DiagnosisAnesthesia MonitoringSleep Monitoring End-Use Devices Outlook HospitalsClinicsDiagnostic CentersResearch LaboratoriesOthers For more information about this report, visit CONTACT: CONTACT: Laura Wood, Senior Press Manager For EST Office Hours Call 1-917-300-0470 For USA / CAN Free Call 1-800-526-8630 For GMT office hours, call + 353-1-416-8900

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Sewell Man Busted in Brigantine NJ for attempted luring of a child Mon, 24 May 2021 18:53:13 +0000

With the help of a citizens’ organization, brigantine police arrested a 55-year-old man from Sewell for attempted child luring.

The situation arose on Friday, when the police received a call from “members of an organization that seeks to expose people who use the internet and mobile applications to meet minors for the purpose of sexual acts. “

Police said those who called said they were at a hotel in Brigantine where they found a manwho had had sexually explicit conversations via a mobile app with a member of their organization posing as a 15-year-old boy. for having met what he believed to be the 15-year-old. “

The police then said to send agents and conduct an investigation. From there, police arrested Michael J. Sharp, 55, of Sewell, accusing him of “attempt to entice a child by electronic means for the purpose of committing a criminal offense against or with the child, a 2nd degree crime. “

Sharp was taken to the Atlantic County Jail pending a court hearing.

Finally, the police said: “It should be noted that the organization mentioned above has conducted a private investigation and is not known to be affiliated with law enforcement or any other New Jersey state government organization.

Please note that all those arrested are presumed innocent until found guilty.

SOURCE: Brigantine Police Department

WATCH: Here are America’s 50 Best Beach Towns

Each beach town has its own set of pros and cons, which got us thinking about what makes a beach town the best to live in. Stacker consulted WalletHub data, published on June 17, 2020, which compares American seaside towns. Ratings are based on six categories: Affordability, Weather, Safety, Economy, Education, and Health and Quality of Life. Cities had between 10,000 and 150,000 inhabitants, but they had to have at least one local beach listed on TripAdvisor. Read it full methodology here. From these rankings, we have selected the top 50. Readers who live in California and Florida will not be surprised to learn that many of the cities featured here are in one of these two states.

Read on to see if your favorite beach town got it right.

READ MORE: Find out which states people live longest

Read on to find out the average life expectancy in each state.

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Danbury sells city center property to developer with best building plan Mon, 24 May 2021 09:27:17 +0000

If you were a developer and owned this prime real estate on the corner of Liberty and Delay Street in downtown Danbury, what would you build there for the benefit of the City of Danbury?

This is the question Danbury officials will ask themselves before choosing the new owner. In the city’s application package, officials made it clear that they were looking for potential buyers “execute a high quality and financially feasible project that advances the vision of the city”, according to a Hearst Connecticut Media article.

This means that the city will not sell to a developer who plans to keep the property as a parking lot or parking garage. Instead, Danbury city officials have made it clear that they are pushing for projects that include retail space on the ground floor, restaurants and residential accommodation on the top floor.

Photo courtesy of the Danbury Ice Arena FB page …

The Danbury Ice Arena is just a short walk from the property for sale on the corner of Liberty and Delay Street. With the return in October of our professional hockey team, the Danbury Hat Tricks, as well as the continuation of the Downtown Danbury Streetscape Renaissance Project, the downtown area could experience a well-deserved revival.

City officials plan to form a committee that will include Danbury’s planning director to review the developer’s proposals. Any interested developer must submit proposals by 2:00 p.m. on July 14.

Google Images of Greater Danbury Area Hilariously Over-Analyzed

Candlewood Lakes Island House

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Flood triggers flooding in Louisiana town [Video] Thu, 20 May 2021 20:33:00 +0000

Slowly but surely, Lake Charles staggered backwards. In southwest Louisiana, shingles had begun to replace blue tarps on more roofs. Signs and streetlights that were once twisted like paper clips have been replaced.

After two hurricanes pulverized the city last year, Lake Charles has been on a long and daunting road to recovery.

But this week, Lake Charles faces disaster again.

The storms dumped up to 15 inches of rain in some places. Dozens of residents were rescued from their homes as floodwaters gushed in and left some streets navigable only by boat and large trucks.

At least four people have died in Louisiana after a flood that began Monday that caused flooding across much of the coast. Baton Rouge, about 130 miles east of Charles Lake, has had more than a foot of rain in places, prompting local authorities to declare a state of emergency and stir up painful memories of the flooding catastrophic events that ravaged the region in 2016.

Beyond the devastation, the floods have been a demoralizing blow to communities who are fed up with their resilience being tested.

“Just insult to injury,” said Phillip Tarver, who represents Lake Charles in the state legislature and is a city car dealership. “These nine months have been difficult. It really is.

The threat of severe storms has also reached Texas this week, where forecasters have warned of flooding in Houston as the ground becomes oversaturated with precipitation. “Continue to stay abreast of weather conditions and be safe,” the National Weather Service said in an advisory.

The flood was an agonizing reminder of the impact of climate change on the Gulf of Mexico coast, especially after a hurricane season last year that was among the busiest on record. Mayor Nic Hunter of Lake Charles said President Biden called him on Wednesday and they had a “very candid conversation about struggles and needs.”

“Everyone is tired,” Hunter said in a Facebook post. “Some now face the unthinkable prospect of repairing a house for the third time in less than a year.”

The flooding comes after Mr Biden visited Lake Charles this month as he tried to spend trillions of dollars to shore up the country’s decaying infrastructure, promising not only to restore the city, but to strengthen it. in the face of climate change.

“I promise you we’ll build back better,” Biden said. “Better ability to withstand storms that are becoming more severe and more frequent than ever.”

Lake Charles, like much of the Louisiana coast, has borne the brunt of this reality. In August, Hurricane Laura, one of the most powerful storms to ever hit the state, brought 150 mph winds that devoured homes and businesses, destroying entire blocks, toppling trees and utility poles and leaving a mess that only intensified when another storm, Hurricane Delta, hit the city in October. By some estimates, the storms caused more than $ 12 billion in damage.

“Our hearts are truly broken,” Governor John Bel Edwards of Louisiana said at a recent press conference. “I’m sorry you have to deal with this again.”

Meteorologists said most of the precipitation occurred on Monday, when the storms dropped 12 to 15 inches over Charles Lake in less than six hours. “With the rate dropping, the drainage just couldn’t keep up,” said Jonathan Brazzell, a forecaster with the National Weather Service.

Forecasters are now warning of more precipitation in the coming days and further flooding of the river as water drains from Charles Lake. Until Friday morning, a stretch from Lake Charles to Houston could take another two to four inches, with a potential of up to 15 inches in isolated locations. Baton Rouge could also receive several additional inches of rain.

In Baton Rouge, authorities said one man was likely dead from power outages cutting off the oxygen machines he needed, and another man was found dead in a submerged vehicle in an underpass. In the parish of West Baton Rouge, at least one man died after a car crashed into a canal. In the Lake Charles area, a man was found in a flooded vehicle on Tuesday.

At Lafayette, familiar anguishes rose with the water level of the bayou. Residents watched the clouds darken and swell just a week after gusts of rain soaked the low-lying parish and lifted the Bayou Vermilion to flood stage. The historic floods of 2016, which damaged nearly 2,000 homes there, traumatized homeowners in the area.

On Wednesday, two days after taking water for the third time in four years, patrons of Kirk’s U-Needa-Butcher on Lafayette’s North Side chose refrigerators stocked with specialty seasoned meats and walked out with Styrofoam boxes. filled with stuffed turkey wings or chicken crackers. .

Owner Blake Gallet said Monday’s downpour, when the skies opened up right after work, took him by surprise. A neighbor alerted him to water entering the store, and he watched the passing cars create a wake that spread over the top of hastily assembled sandbags. Fifteen cars are blocked there by a sudden lake.

Thinking of the possibility of more rain for the remainder of the week, Mr Gallet hid sandbags nearby, taking no chances on a light forecast. The procedure had become strangely familiar.

“It’s sad that when your crew knows what they’re doing, they do it really well and it doesn’t take long,” said Gallet. “This is the third time we have to do it, and we are becoming more efficient.”

Even residents spared the floodwaters sweated what could happen. Water crept within three inches of Pam Suire’s house on Monday evening. She and her husband lifted furniture onto risers before it rained. The Suires took 14 inches of water in 2016 and have had near misses since.

“I’ve become good enough not to worry about the things I can’t control,” Ms. Suire said. She and her husband are looking for a grant to raise their house. “It will only take a few meters,” she said, adding that the project would be expensive.

In Lake Charles, the community feared how much their progress had been canceled out by the flooding.

The shock of the initial destruction caused by hurricanes had long given way to the agonizing marathon of the recovery – a series of inconveniences, bureaucratic tangles and a nagging mixture of desperation and frustration.

“It’s definitely a setback,” said Matt Redd, a real estate developer in Lake Charles.

“Unfortunately, we are experienced in this area,” he added. “It’s depressing, but at the same time, we’re a pretty resilient bunch, and we’re going to start fixing our things.”

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Private investors doubt their ability to handle defaults in post-pandemic recession Thu, 20 May 2021 14:33:00 +0000

– New study reveals that 87% of investors in financial markets pursue a direct lending strategy

– However, almost half (47%) are not confident in their ability to manage loss recovery

LONDON, May 20, 2021 / PRNewswire / – An overwhelming majority (87%) of capital market investors pursue direct lending strategies, although nearly half (47%) lack confidence in their ability to handle loss recoveries, leading to could have serious implications if business failures increase due to a pandemic. government support schemes are abolished.

According to a capital markets report, Navigating CovExit: Searching for Value in Debt Markets, commissioned by Ocorian1, a global leader in capital markets, fund administration, and corporate and trust services1, the majority (57%) of capital market investors have a direct lending strategy that they are looking to develop, and 30% have a strategy that they are executing.

With $ 207 billion deployed by 327 direct loan funds around the world over the past 10 years2, the study highlights a lack of investor confidence in the ability of their direct loans to weather the storm. They expressed the least confidence in recovery of losses (47%), risk assessment (53%), filing of returns (54%) and monitoring of commitments (57%).

Ocorian commissioned an independent study of 100 financial market decision makers working in investment banks and private equity firms in Europe, North America, Africa and Asia assess their operational readiness as they plan their post-coronavirus pandemic investment strategies.

Respondents from start-ups under 10 were the least confident about their direct loan loss recovery abilities, with only 41% expressing confidence. Regionally, levels of confidence in the ability to have strong loss recovery capabilities were lowest among European respondents (28%) – significantly behind North American (40%), African (48%) respondents and Asian (72%).

Despite their concerns, around 92% of respondents expect bankruptcies and corporate restructurings to present them with opportunities in the next 12 months, of which 22% believe these opportunities will be significant.

Alan booth, Global Head of Capital Markets at Ocorian said: “Relatively few defaults to date suggest that private debt investments have been resilient, but government support and low cost of financing can mask a varying degree of trauma in the market.” As this support wanes and interest rates rise, we can expect to see distress and even opportunity in some sectors.The reaction of private debt managers will be varied and the hawks are likely to be more numerous as the doves.

“Despite their operational concerns and weakening near-term fundamentals in private credit markets, investors are increasingly drawn to the sector in anticipation of debt restructurings as well as M&A activity resulting from the pandemic. . Succession to direct loans may have difficulty adapting their infrastructure to meet their need for rapid execution.

“It is essential that managers have sufficiently robust and scalable operational, risk management and compliance processes internally or through an outsourced arrangement to avoid unnecessary delays and risks to themselves and their LPs. “

To learn more, join the June 9 webinar or to download the full report Navigating CovExit: Searching for Value in Debt Markets, click here.

Notes to Editors

1 The research was conducted with a panel of 100 high-level financial market professionals March 2021. All respondents were involved in business decision-making processes and were evenly distributed Europe, North America, Africa and Asia, from medium or large capitalization investment banks or private equity firms. Respondents worked in companies with balance sheets ranging from around $ 50 billion to finish $ 1 billion.

2 Preqin data published in S&P Market Intelligence 2021 Direct Lending Outlook document on 18e December 2020

About Ocorian

Ocorian is a global leader in business and trust services, fund administration and financial markets. He has 260 billion USD in assets under administration and employs 1,250 professionals.

Supporting and protecting global investments is Ocorian’s priority; it manages more than 17,000 structures on behalf of 8,000 clients, including financial institutions, large international organizations and high net worth individuals.

Ocorian provides fully compliant solutions tailored to the needs of clients, no matter where in the world they have financial interests or whatever their structure.

The group offers a full range of services to companies, funds and private clients through a network of 16 offices covering all the financial centers of the world. Locations include Bermuda, BVI, Cayman, Guernsey, Hong Kong, Ireland, Isle of man, Jersey, Luxembourg, Malta, Mauritius, Netherlands, Singapore, UAE and UK, as well as a representative office in the US.

To learn more about Ocorian and its services, including regulatory information, visit

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SOURCE Ocorian

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