Saving Investment – MHKS http://mhks.org/ Tue, 28 Sep 2021 05:58:17 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://mhks.org/wp-content/uploads/2021/05/mhks-icon-150x150.png Saving Investment – MHKS http://mhks.org/ 32 32 KKR Income Opportunities Fund appoints Eric Mogelof as Trustee, Chairman and Chairman https://mhks.org/kkr-income-opportunities-fund-appoints-eric-mogelof-as-trustee-chairman-and-chairman/ https://mhks.org/kkr-income-opportunities-fund-appoints-eric-mogelof-as-trustee-chairman-and-chairman/#respond Thu, 08 Apr 2021 02:38:28 +0000 https://mhks.org/kkr-income-opportunities-fund-appoints-eric-mogelof-as-trustee-chairman-and-chairman/

NEW YORK–() – KKR Income Opportunities Fund (“KIO” or the “Fund”) (NYSE: KIO) announced today that the Board of Directors of KIO has appointed Eric Mogelof as Trustee, Chairman and Chairman of the Fund. Mr. Mogelof replaces Suzanne Donohoe who has resigned from her duties as Trustee, President and President of KIO. Mr. Mogelof recently joined KKR as a partner and Global Head of KKR’s Customer and Partner Group, succeeding Ms. Donohoe who has been promoted to a new role as KKR’s Senior Global Head of Strategic Growth.

Prior to joining KKR, Mr. Mogelof most recently served as Head of PIMCO’s Global Wealth Management business in the United States and was a member of the PIMCO Executive Committee. He has over two decades of relevant experience, including as Head of PIMCO’s Asia-Pacific Business, Co-Head of PIMCO’s Institutional Business in the Americas, and Head of PIMCO’s Global Consulting Business. Mr. Mogelof is a very experienced leader and personnel manager. During his time at PIMCO, he held several management positions spanning multiple geographies, supervising hundreds of employees.

About the KKR Income Opportunities Fund

KIO is a diversified closed-end investment company managed by KKR Credit Advisors (US) LLC (“KKR Credit”), an indirect subsidiary of KKR & Co. Inc. The primary investment objective of KIO is to seek a high level of current income. with a secondary objective of capital appreciation. KIO will seek to achieve its investment objective by investing primarily in senior and senior secured loans, unsecured loans and high yield corporate debt securities. He plans to employ an aggressive strategy of investing in a targeted portfolio of loans and fixed income instruments of US and non-US issuers and implementing hedging strategies to achieve attractive risk-adjusted returns. . Please visit www.kkrfunds.com/kio for additional information.

About KKR Credit

Launched by KKR in 2004, KKR Credit invests on behalf of its managed funds, clients and accounts across the spectrum of business credit, including secured credit, bank loans and high yield securities. and alternative assets such as mezzanine finance, investing in special situations and structured finance. With approximately 280 employees, including over 130 investment professionals, KKR Credit’s investment teams are closely aligned with KKR’s private equity investment wealth and industry resources.

About KKR

KKR is a leading global investment firm that manages several alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people and driving growth and value creation with the KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For more information about KKR & Co. Inc. (NYSE: KKR), please visit the KKR website at www.kkr.com and on Twitter @KKR_Co.

Forward-looking statements

This press release contains certain statements that may include “forward-looking statements” within the meaning of federal securities laws. All statements, other than statements of historical fact, included in this document are “forward-looking statements”. Forward-looking statements are based on the Fund’s and KKR’s beliefs, assumptions and expectations regarding its future performance, taking into account all information currently available. These beliefs, assumptions and expectations may change due to many possible events or factors, not all of which are known to the Fund or KKR or are not under their control. The Fund and KKR do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date on which such statements were made, except as required by law.

Fund Disclaimer

This press release does not constitute an offer to sell securities and does not solicit an offer to buy securities in any jurisdiction where the offering or sale is not permitted. Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund before investing. The Fund prospectus, which contains this and other important information about the Fund, should be read carefully before investing. A copy of the Fund’s prospectus can be obtained from the Fund’s website. An investment in the Fund should not constitute a complete investment program.

The investment return, price, payout rate, market value and net asset value (“NAV”) of a fund’s shares fluctuate with market conditions. Closed-end, listed funds frequently trade for less than their net asset value, which can increase an investor’s risk of loss. There can be no assurance that the Fund will achieve its investment objectives. The distribution rates of the Fund may be affected by many factors, including changes in realized and projected market returns, the performance of the Fund and other factors. There can be no assurance that a change in market conditions or other factors will not result in a change in the distribution rate of the Fund at a later date.

An investment in the Fund is not suitable for all investors and is not intended to constitute a complete investment program. There are risks associated with investing in the Fund, including the risk that you will receive little or no return on your investment or that you will lose some or even all of your investment. Therefore, potential investors should carefully consider the investment objectives, risks, charges and expenses of the Fund and should consult a tax, legal or financial advisor before making any investment decision. The market price (in the case of KIO) and the net asset value of the shares of the Fund fluctuate and it is possible to lose money by investing in the Fund. Past performance is no guarantee of future results.

The Fund will invest in loans and other types of fixed income instruments and securities. These investments may be guaranteed, partially guaranteed or unsecured and may not be rated, and whether rated or not, may have speculative characteristics. The market price of the Fund’s investments will change in response to changes in interest rates and other factors. Usually, when interest rates rise, the values ​​of fixed income instruments fall, and vice versa.

The use of leverage creates an opportunity for increased income and returns for common shareholders but, at the same time, creates risks, including the likelihood of greater volatility in net asset value and market price and distributions on common shares. In particular, leverage can amplify interest rate risk, which is the risk that the prices of the securities in the portfolio will fall (or rise) if the market interest rates for these types of securities rise (or decrease). Therefore, leverage may result in larger changes in the net asset value of the Fund, which will be fully borne by the holders of common shares of the Fund.

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Auto loans to lead growth | 2018-10-19 https://mhks.org/auto-loans-to-lead-growth-2018-10-19/ https://mhks.org/auto-loans-to-lead-growth-2018-10-19/#respond Thu, 08 Apr 2021 02:38:18 +0000 https://mhks.org/auto-loans-to-lead-growth-2018-10-19/

CUNA economists believe that growth in loans to credit unions will remain strong, but will begin to reflect smaller increases in the future. Overall, we see credit union loans increasing 9.5% this year and 8% in 2019.

Auto loans will continue to lead the way. The average age of cars on the road is at an all-time high of 11.6 years, suggesting healthy underlying demand going forward. The growth in auto loans from credit unions has been a constant throughout the current recovery.

Data from the Federal Reserve and NCUA shows that outstanding new and used auto loans accounted for 31.6% of all credit union loans in mid-2018, up from 30.3% at the end. of 2017 and 22.4% in 2007.

Consulting firm IHS Markit predicts sales of new cars and light trucks for the year 2018 of 17.2 million units, a decrease of 1.3% compared to 2017, with a continued slowdown in the to come up. The company predicts that overall sales will decline by 0.9% in 2019.

Wards Intelligence has a similar forecast, with US sales down 2.1% in 2018 and 1% in 2019.

The dollar amount of outstanding new credit union auto loans increased 13.1% in 2017 and 11.7% in the fiscal year ended June 2018. This is consistent with HIS Markit’s opinion on slightly weaker sales trends.

The outlook for used car credit also looks favorable. Used auto loans from credit unions increased 10.2% in 2017 and 9.9% in the fiscal year ended June 2018. Moody’s Analytics predicts that used car prices will stabilize over the next few years.

That, combined with rising interest rates and tighter credit standards, should make more consumers seriously consider used cars throughout our forecast horizon. Growth expectations remaining close to double-digit levels seem reasonable in the current environment.

Looking ahead, in the 2020s, most experts predict a more obvious slowdown in the automotive sector. This is when many expect the effects of societal mobility transformation, such as ridesharing, carsharing, subscription services and autonomous vehicles, to become more pronounced. .

These changes are expected to be slow at first, but gain momentum over the next decade.

Berylls Strategy Advisors predicts a decline in car sales over the next decade, on average by 2% per year.

MIKE SCHENK is CUNA’s Deputy Chief of Advocacy for Policy Analysis and Chief Economist.

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Why are MSMEs always looking for more government support? https://mhks.org/why-are-msmes-always-looking-for-more-government-support/ https://mhks.org/why-are-msmes-always-looking-for-more-government-support/#respond Thu, 08 Apr 2021 02:38:07 +0000 https://mhks.org/why-are-msmes-always-looking-for-more-government-support/

Ease of doing business for MSMEs: Micro, Small and Medium Enterprises (MSMEs) are the most affected sector in India due to the Covid-19 pandemic lockdown and they are fighting on many fronts. It faces a liquidity crunch, late payments, high default risks, supply chain disruption and labor shortage, among others.

Last year, the government announced a series of initiatives for the sector. Many worked as the Rs 3 lakh crore emergency line of credit guarantee program (ECLGS program) which provided full coverage guarantee to banks and NBFCs so that they could provide emergency credit facilities to MSMEs. and businesses affected by Covid. Under ECLGS, banks sanctioned loans worth Rs 2.46 lakh crore to around 92 lakh borrowers.

However, many sectors, especially services, have been left to fend for themselves. Beauty, travel and tourism businesses, as well as the hospitality industry are still struggling to get back on their feet, and many have closed their doors.

Read more: Electronic GST invoicing is a welcome step for midsize businesses, but could be a challenge for micro and small units: FISME

“Considering the size and scale of the sector, these initiatives do not offer financial support to the MSME sector, only moral support,” Chandrakant Salunkhe, founder and chairman of SME, told Financial Express Online. Chamber of India. He added that according to their survey, only 45% of the workforce is back to work, the rest are still in their villages even a year after the lockdown was announced – most of them are in. sectors such as infrastructure, real estate and logistics. Many factory workers still have not returned. Several of these issues, including delays in trade receivables, will impact their turnover which in turn will significantly reduce their withdrawal limit from banks.

As MSMEs find their feet on the ground, Anil Bhardwaj, general secretary of the Federation of Indian MSMEs (FISME), said the game changer for the sector would be swift legislation and notification of the insolvency resolution framework. for the MSME sector. He explained that currently, the Insolvency and Bankruptcy Code (IBC Code) is aimed at companies while 97% of the MSME sector which includes sole proprietorships and partnership companies is outside its scope. ‘application. Therefore, if they default for whatever reason, there is absolutely no mechanism for them to file for bankruptcy or restructure their loans.

“While the RBI has restructuring programs for MSMEs, they are shackles and do not respond effectively to the needs of the sector, ”he said. It can be seen that when an MSME defaults, banks are predisposed to take over their assets for liquidation in order to allow loan recovery. “What would work is to distinguish between companies that are really sick and those that have the potential for turnaround if a moratorium is granted. This would help the country maintain its productive assets, thereby creating more jobs and income in the future, he said.

One of the industry’s longstanding demands has been to simplify the GST and reduce the tax rate, which is badly needed as the industry revives and adapts to the new normal. “To help MSMEs recover from the liquidity crisis, the government can introduce a mechanism whereby once an SME raises an invoice for its customers, especially large companies, the latter can pay the GST directly to the government. Said Salunkhe. This will ensure that the working capital of SMEs will not be blocked by the GST.

He also suggested diluting strict compliance with labor laws to one year for SMEs that employ up to 100 workers to reduce compliance costs.

The last budget focused on promoting domestic manufacturing that benefits the MSME sector, but rising input costs are putting a lot of pressure on small and medium-sized enterprises. “There is a need to tackle the rising cost of inputs in the form of steel, iron, copper and other metals, which has become a serious concern for the sector. Input costs have increased, which in turn has excluded many smaller players from the market, ”said Rajesh Khosla, president and CEO of glass bottle maker AGI Glaspac.

The government can also justify tariffs and tariffs to increase the contribution of MSMEs to exports. This can be encouraged by research and development through incentives and helping small industries with technology upgrade plans, suggested Milan Thakkar, CEO of building materials manufacturing company Walplast.

Heavy investments in infrastructure and development should also be considered. “The support that the National Infrastructure and Development Finance Bank (NBFID) will provide will determine the support that the MSME sector will also receive in terms of equipment and investments which indirectly also create new jobs,” Thakkar said.

While several programs have been announced by the government, there is a need to offer MSMEs a compendium of incentives that address their concerns holistically.

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[ad_2] ]]> https://mhks.org/why-are-msmes-always-looking-for-more-government-support/feed/ 0 Student Loan Debt Solutions for Biden’s First 100 Days https://mhks.org/student-loan-debt-solutions-for-bidens-first-100-days/ https://mhks.org/student-loan-debt-solutions-for-bidens-first-100-days/#respond Thu, 08 Apr 2021 02:37:51 +0000 https://mhks.org/student-loan-debt-solutions-for-bidens-first-100-days/ President-elect Joe Biden will be sworn in as the 46th President of the United States on January 20, 2021.

Biden, like those who came before him, will set an aggressive schedule for the first 100 days. In that window, he will seek to accomplish at least one historic achievement to temporarily satisfy the toughest employer out there – the American voter.

This achievement is very likely to come in the form of a policy aimed at addressing the worsening student debt crisis in the country.

Why?

First, take a look at the numbers. The country has a student loan debt balance of $ 1.7 trillion, making it the second largest form of consumer debt behind mortgages.


According to EDU loan, the average borrower of a student loan from the 2019 class must $ 29,076 in student loan debt. In Connecticut, the average borrower in this category owes $ 41,579, the highest figure in the country.

How are these young Americans going to move forward after college with such a financial burden?

Second, it is an issue that is taken seriously by members of both parties. Remember, it was President Donald Trump who signed an executive order in August to maintain abstention from the student loan pandemic.

And recently, its Education Secretary, Betsy DeVos, extended the relief until January to leave the incoming administration to take the next step.

The vast majority of young voters, of whom there are many, are in student loan debt and neither party wants to alienate this electoral bloc by having the more severe student loan debt platform.

This means President-elect Biden will likely have his best chance of securing a meaningful 100-day political victory with bipartisan student loan debt reform. He can get something through the legislative bodies and the Resolute Desk within the short time frame of 100 days.

But, it must make sense. Forgiving the $ 1.7 trillion in student loan debt doesn’t just make little sense, it’s truly unfair to anyone who has worked hard to pay off their own student loans.

Here are some bipartisan student debt solutions President-elect Biden can consider.

First, the pandemic student loan forbearance for all federal student loans is expected to be extended until January 2022.

Even with a vaccine in the works, pandemic and social distancing guidelines will likely still have an impact on our lives until the spring, which means the economic recovery will continue to be excruciatingly slow for many unemployed Americans.

This recession is not going anywhere anytime soon, so struggling student loan borrowers will continue to need the financial reprieve that pandemic forbearance offers them.

On top of that, borrowers who have been able to keep paying off their student loans are quickly reducing their debt balances because with interest rates frozen to zero, 100% of payments go to the principal.

Second, all federal student loans that were used to pay for college fees related to the 2020 spring semester should be completely canceled.

When campuses across the country were closed to combat the spread of the virus, students were deprived of the full university experience for which they had taken out federal loans.

They did not have access to state-of-the-art facilities and world-class educators. Instead, they took Zoom courses online from their beds and kitchen tables. Their tuition fees for this semester should more accurately reflect the latter, not the former.

By forgiving federal student loans taken out for this semester only, President-elect Biden can do the right thing for these students because their loan balances will be more in line with the educational value they received.

Third, at the root of the student debt crisis, colleges and universities must finally be held accountable by the federal government.

When a student has federal student loan debt, they don’t owe the school money, they owe the government money because the government has already paid for the school. The same goes for private student loans, except the government is swapped for a private lender.

This system gave us the student loan debt crisis because colleges were able to raise tuition fees to outrageous levels without fear of not getting paid. Students must then incur more and more student debt to meet these obscene tuition fees.

So the government and students are left behind, while colleges and universities fuel these endowments.

If the system is to remain, a government accountability system must be created where colleges and universities are punished if they develop a history of high student debt and default rates.

One form of punishment imposed on schools by the government would be forcing the institutions concerned to become equal repayment partners with borrowers who have taken out student loans to attend these schools. If they don’t comply, the federal government can simply freeze funding for these schools or even not provide federal student loans for students to attend these schools.

It’s my prediction that colleges and universities would quickly drop tuition fees to avoid high debts and defaults if President-elect Biden signed such a policy within the first 100 days.

Michael Brown is the Director of Communications at EDU loan. He can be reached at brown@lendedu.com.

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How students try to avoid college loans https://mhks.org/how-students-try-to-avoid-college-loans/ https://mhks.org/how-students-try-to-avoid-college-loans/#respond Thu, 08 Apr 2021 02:37:29 +0000 https://mhks.org/how-students-try-to-avoid-college-loans/

Student debt can seem inevitable. Today, more than 44 million Americans must nearly $ 1.5 trillion in student loans. This debt has been blamed for many things: Americans lack of retirement savings, falling homeownership rates, same the death of marriage.

Some state governments and private universities are exploring ways to alleviate the burden. Schools like the University of Utah and Purdue University are considering revenue sharing agreements, where instead of taking out loans, students are expected to pay the school part of their income once they find a job. About 20 states are on the right track to offer free public college, and last year, New York University School of Medicine announced that all tuition fees would be free, effective immediately. After the announcement, applications to the school increased by 47%.

Marketplace spoke to three students about their approach to earning a debt-free degree: a NYU medical student, a computer programmer-in-training, and an aspiring welder.


Name: Travis John
Age: 18
Site: Orange County, California
The school: Universal Technical Institute
Cost: $ 21,000

Travis John didn’t go to community college this month like he once thought. Instead, as most freshmen moved into their dorms, he began a welding program at a local trade school.

“I was actually thinking about going to community college for two years and then going to college,” John said. His plans changed when a representative from the Universal Technical Institute, a for-profit national vocational school, stopped by his high school welding class. “He just went through all the details about it and I was like, ‘Yeah, that’s what I want to do.'”

The nine-month welding program at UTI in Rancho Cucamonga, Calif. Will cost John around $ 21,000, most of which will be covered by a college fund his grandmother opened for him. He feels grateful.

“I won’t have to worry about debt and it’s a lot cheaper than going to community college and then transferring to university. “

When John announced his decision to his parents, they were surprised. But to him, it all made sense. “I am not a schoolboy. So I will go to this trades school for nine months and then I will be finished, ”he explained.

He hopes to use his certificate to get a job as a field welder, and is optimistic about his job prospects.

“I have a huge advantage because all the baby boomers are going to retire soon,” he said. He’s probably on to something; according to the American Welding Society, there will be a shortage of more than 450,000 welders by 2022.


Asim Zaidi attends a computer school in San Francisco which allows students to finance their studies through a revenue sharing agreement. Photo courtesy of Asim Zaidi

Name: Asim Zaidi
Age: 22
Site: San Francisco, California
The school: Make school
Cost: 20% of future income for five years

Growing up, Asim Zaidi was always told that getting a college degree was the only way to be financially secure. When he graduated from high school, he enrolled in the College of Engineering at the University of Illinois at Chicago.

But he found college wasn’t everything he imagined. Not only did he not like the atmosphere, he was also getting more and more into debt. After high school, Zaidi continued to live at home. One of four children and the son of a single mother, he was entitled to financial assistance, but it was not enough to cover everything. He had to take out about $ 6,000 in loans in the first year.

With two years of college behind him, Zaidi decided to take a break to pull himself together. It was then that he heard about Make School, a computer science school in San Francisco that allows students to finance their studies through income sharing agreements.

Upon finishing his studies, according to the ISA, Zaidi would not have to pay any tuition fees. Provided he graduates and gets paid employment of at least $ 60,000, he will spend five years donating 20% ​​of his income to school.

“Twenty percent may sound like a lot,” he said. “At first I was skeptical, but then I met tons of program alumni in San Francisco.” He spent time with them in their apartments and saw that they were “living comfortably”.

The only thing Zaidi regrets is that he didn’t hear about Make School sooner.

“I wish I hadn’t wasted those few years in college. I would have liked to hear about it when I was 18, it would have been so much better, ”he said. “It’s a five-year thing; I will be 27 years old and debt free. It’s a good thing. I am a big supporter of the ISA. I think this is the way education payments should be. You should only pay if you get a good job.


Not having to worry about paying off thousands of dollars in student loans has given Margareta Ianosi-Irimie a new sense of freedom. Photo credit: Jana Kasperkevic for Marketplace

Name: Margareta Ianosi-Irimie
Age: 22
Site: New York, New York
The school: New York University School of Medicine
Cost: To free

In August 2018, Margareta Ianosi-Irimie learned that she had changed her life. The tuition fees for his medical school were fully covered.

The announcement was made at the end of the so-called “white coat ceremony,” a rite of passage in some schools when graduates enter the medical profession. The tension was already high, according to Ianosi-Irimie, when Kenneth G. Langone, the founder of Home Depot, took the stage. Langone contributed approximately $ 100 million towards the $ 600 million the university needed to make free tuition a reality.

“Sir. Langone got on the podium and started talking and all of a sudden he said things and then the screen went blue and he said ‘free tuition for all’, he said. she said. “Everyone was applauding. I don’t think I have applauded that long all my life. I lost my voice after that.

Her parents couldn’t attend, but as soon as she could, she texted them the picture of the blue screen.

“My dad sent me four question marks over text,” she said. “He had no idea what was going on. He thought it was a joke or something. I ended up calling my parents afterwards and the moment I said the words out loud I started to cry.

When she was first accepted to NYU School of Medicine, Ianosi-Irimie was elated. How she would pay for school was not in the foreground of her mind, but as medical school approached, so did the tuition. For her undergraduate degree, she attended the University of Massachusetts Amherst on a scholarship that allowed her to graduate without going into debt.

Ianosi-Irimie spent last summer helping his dad at his phone repair store in Maine. She and her father spent hours every day looking for loans, trying to find where to find the money for medical school.

Not having to worry about paying off thousands of dollars in student loans gave Ianosi-Irimie a new sense of freedom.

“I don’t have to get into a very high paying specialty just because I know I’m going to have endless loans that I have to pay back,” she said. “I can do something because I really want to do it, and I think that’s the best way I can contribute to medicine and help patients.”

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Littelfuse to Release First Quarter Financial Results April 28 https://mhks.org/littelfuse-to-release-first-quarter-financial-results-april-28/ https://mhks.org/littelfuse-to-release-first-quarter-financial-results-april-28/#respond Thu, 08 Apr 2021 02:36:37 +0000 https://mhks.org/littelfuse-to-release-first-quarter-financial-results-april-28/

Littelfuse, Inc. (NASDAQ: LFUS), an industrial technology manufacturing company that enables a sustainable, connected and safer world, today announced that it will release financial results for its first quarter of fiscal 2021 before the market opens. Wednesday April 28, 2021.

The press release and slide presentation will be available in the Investor Relations section of the Company‘s website, followed by a conference call at 9:00 a.m. CST. The live conference call will be available via webcast from www.littelfuse.com and available in replay on the company’s website.

About Littelfuse

Littelfuse (NASDAQ: LFUS) is an industrial technology manufacturing company that enables a sustainable, connected and safer world. In more than 15 countries and with 12,000 associates around the world, we work in partnership with our customers to design and deliver innovative and reliable solutions. Serving more than 100,000 end customers, our products can be found in a variety of industrial, transportation and electronics end markets – everywhere, every day. Learn more about Littelfuse.com.

LFUS-F

See the source version on businesswire.com: https://www.businesswire.com/news/home/20210407005065/en/

Contacts

Elisabeth saha
Senior Investor Relations Analyst
investor relations@littelfuse.com

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Lawsuit Against Brophy Prep and Diocese of Phoenix Claims Sexual Abuse by Priest | Arizona News https://mhks.org/lawsuit-against-brophy-prep-and-diocese-of-phoenix-claims-sexual-abuse-by-priest-arizona-news/ https://mhks.org/lawsuit-against-brophy-prep-and-diocese-of-phoenix-claims-sexual-abuse-by-priest-arizona-news/#respond Wed, 07 Apr 2021 23:17:41 +0000 https://mhks.org/lawsuit-against-brophy-prep-and-diocese-of-phoenix-claims-sexual-abuse-by-priest-arizona-news/

PHOENIX (3TV / CBS 5) – There is yet another allegation of sexual abuse by a Catholic priest in Phoenix. On Monday, a lawsuit filed in Maricopa County targets both Brophy College Preparatory and the Roman Catholic Diocese of Phoenix for allowing a priest to sexually abuse a student in the 1980s.

From 1980 to 1987 Father James Sinnerud worked as a teacher and trainer at Brophy. The lawsuit claims it left the plaintiff “John RK Doe” with “emotional distress, embarrassment, loss of self-esteem, disgrace, humiliation, anger, rage, frustration, loss of enjoyment of life, loss of consortium, loss of love and affection, sexual dysfunction, past and future medical expenses for psychological treatment, therapy and counseling.

“For [those who haven’t suffered abuse], that was many years ago. But for the adult survivor, it is still part of their daily life, ”said Robert Pastor, the plaintiff’s lawyer.

In 2018, Jesuits West published a list of Jesuit priests who had been credibly accused of sexual abuse dating back 60 years. Eight of these priests had ties to Brophy; six of them had already died. Sinnerud, however, still lives in Nebraska, as far as Pasteur knows. Sinnerud worked at another Catholic school, Creighton Preparatory, in Omaha. Creighton recently uncovered allegations of abuse against him, which they say occurred before he arrived in Omaha. Sinnerud’s days at Brophy ended in 1987, and from there he immediately went to Creighton. This week’s trial lists Brophy and the Diocese of Phoenix as entities who attempted to cover up Sinnerud’s behavior.

“The Diocese of Phoenix and I think the Catholic Church in general, although they verbally commit to being transparent and being truthful, always deal in secrecy,” said Pastor.

The lawyer himself graduated from Brophy in 1993 and still actively practices Catholicism. He feels he is following what he learned in school – to be a man of service to others – by representing victims of abuse.

“It’s almost like they’re expecting, ‘Well, we’re not going to say anything until a survivor appears,’ said Pastor.

Brophy issued the following statement regarding the lawsuit:

Brophy College Preparatory is deeply saddened to acknowledge that on September 22, 2020, we were informed through a lawsuit of allegations of abuse against Fr. James A. Sinnerud, SJ. Bro. Sinnerud was employed as a teacher at Brophy four decades ago – from 1980 to 1987. He has not been part of our faculty since that time. In December 2018, Brophy and the Western Jesuit Province publicly made credible accusations against eight priests who had been assigned to Brophy for a period of 60 years, starting in the 1950s. We were not aware of it. no credible accusations against Fr. Sinnerud at that time. We encourage anyone who may have information about this, or who has been abused, to come forward by contacting Adria Renke, President of Brophy College Preparatory, at arenke@brophyprep.org or 602-264-5291, ext. 6777. We are deeply saddened by the suffering of all victims of religious abuse and will participate fully and transparently in efforts to advance healing and justice.

The lawsuit says Brophy should have known that Sinnerud “was unfit to work as a priest” even before he was hired at the Phoenix school.

“Studies and statistics tell me that, yes, there will probably be more casualties, and there will probably be priests who have not been identified,” Pastor said.

The Arizona family also received a statement from the diocese:

The Diocese of Phoenix is ​​aware of the lawsuit filed against Father James Sinnerud, a Jesuit priest who taught at Brophy College Preparatory in the 1980s. As this is an ongoing litigation, we are unable to comment further. The Diocese of Phoenix encourages anyone who has been a victim or who may have information about abuse to call a local law enforcement agency. We pray for all who have been harmed by child abuse and remain vigilant to protect the dignity of each person. For more information on support services for victims of violence, please contact the Child and Youth Protection Office at (602) 354-2396 or dphx.org/protection-de-la-jeunesse.

Arizona passed a law last summer that extended the age limit for victims of abuse to file a complaint in court, but that extension only lasts until the end of this year.

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Mercury in Great Lakes fish remains stable despite pollution reductions https://mhks.org/mercury-in-great-lakes-fish-remains-stable-despite-pollution-reductions/ https://mhks.org/mercury-in-great-lakes-fish-remains-stable-despite-pollution-reductions/#respond Wed, 07 Apr 2021 23:17:39 +0000 https://mhks.org/mercury-in-great-lakes-fish-remains-stable-despite-pollution-reductions/

Some scientists who study the Great Lakes say they have figured out what causes mercury levels in fish to rise or remain stable, despite a reduction in pollution in the area.

Three years ago, some scientists were puzzled by an increase in mercury levels in the Great Lakes regions despite a steady decline in mercury levels since the 1970s. Levels still did not exceed US Agency thresholds environmental protection, according to a 2017 Detroit Free Press article, but scientists were baffled by how it happened.

But recent studies show that there are several food web and invasive species reasons behind the unwavering mercury in Great Lakes fish.

“We are disappointed that the concentrations have not fallen further, but it is not because of our actions, at least in terms of mercury management,” said Ryan Lepak, post-doctoral researcher at the National Science Foundation. . “It’s because of invasive species and changes in ecosystems.”

Many fish in the Great Lakes are above what would prompt agencies like the Michigan Department of Health and Human Services to issue consumption advisories, Lepak said. But that’s mainly because when people fish in the Great Lakes, they’re preying on the big fish. And these large fish are the ones most likely to have high levels of mercury.

“Mercury is unique in that it undergoes what is called biomagnification. Basically, by saying that you consume what you eat and then you have more of it than what you have consumed, ”Lepak said.

For example, plankton contains more mercury than the water in which it swims. Anything that eats plankton is going to have more mercury than plankton, and so on up the food chain, with each fish getting a little more mercury into their system.

Lepak explained that the mercury levels in the lakes themselves are actually not very high, in fact they are among the lowest levels of any ecosystem in the world. But since the Great Lakes are a very cold and hospitable ecosystem, fish tend to grow slowly and live longer.

“But they still eat to survive,” Lepak said. “And so they eat, they always pick up mercury, but they grow at a slow rate. So they also get more mercury.

Brandon Armstrong, an aquatic biologist for EGLE, said the agency is seeing an increase in mercury in top predators, such as walleye and lake trout, but not in carp. A major culprit for a decrease in pollution that does not mean a decrease in mercury levels in fish? Invasive species.

The introduction of invasive species into the Great Lakes has altered the food web of fish already there.

“Resource managers have their plate full with this,” said Lepak. “We’ve started to get really good traction on all of these mitigation efforts … These invasive species just changed the whole narrative.”

In Michigan, EGLE monitors zebra mussels. Zebra mussels filter water, gallons per day, Armstrong said. As they filter, they pick up contaminants like mercury. These zebra mussels, now with mercury in their system, are then eaten by the goby, which is eaten by larger fish and up the food chain.

“So you have a change in that food web,” Armstrong said.

Quagga mussels and zebra mussels have changed how the entire Great Lakes system works, Lepak said. This change in the food web made it more difficult for the fish that were already there to feed. This made the fish work harder to find less nutritious food.

“So you can see a scenario where you are essentially eating your food at a similar or higher rate, getting the same amount of mercury as before, but now you are not growing as fast because it is not as good.” meals, ”Lepak said. “And in fact, we see it.”

While it may seem contrary to fishing desire to “catch the big one”, small fish are safer to eat. This is because the small fish tend to be younger and therefore have had less time to absorb mercury and other contaminants.

Mercury levels in seafood tend not to be a problem for most adults. But too much, or exposure for some populations, can be harmful. Pregnant women or women who are planning to become pregnant, for example, should avoid mercury.

The The United States Food and Drug Administration recommends a maximum of two to three servings per week of the “best choices” of fish, such as tilapia, freshwater trout, shrimp, whitefish, salmon, and freshwater or saltwater perch. agency warns of fish containing the highest levels of mercury, such as bigeye tuna, orange roughy and marlin.

No factor can be taken in isolation, said Lepak. It is a combination of several factors that play a role in determining the amount of mercury in fish, and that includes human impact.

Despite recent actions by President Donald Trump The administration to reduce pollution regulations, especially pollution from emissions, is on the decline, Lepak said.

But some regions of the Great Lakes have experienced a increase in mercury concentrations over the past 20 years, according to the State Department of Environment, Great Lakes and Energy (EGLE), although other regions are not experiencing either a trend or a decrease in mercury.

Much of the mercury in the Great Lakes that comes from pollution comes from air emissions caused by humans, Armstrong said.

“We know that coal-fired power plants and waste incineration and certain mining and smelting operations contribute mercury to the atmosphere,” Armstrong said.

This is despite declining emissions in recent decades and some of the lowest concentrations of mercury in water and sediment the Great Lakes have ever seen, said Sarah Janssen, research chemist with the US Geological Survey. But some areas do not react to the drop or even the rise in mercury levels.

“Things like invasive species, where fish eat, what they eat – it’s all related,” she said. “So the source is a very important part, but the ecological aspects of these fish are also important because it dictates how much you can eat of each different species of fish, and which you cannot.”

As a result, ending pollution is simply not enough.

“If you stopped all the pumps today in the United States, the fish wouldn’t go to zero. This is not what I am saying. It’s too complex for that, ”said Lepak. “But I think you would see, I know you would see, an immediate response in the fish here. An improvement in these fisheries.

Although invasive species and pollution are known to impact mercury levels, the question remains whether large fluctuations in water levels make the problem worse.

The impact of massive changes in Great Lakes water levels in recent years on mercury levels has not been closely studied. Nonetheless, it could be a contributing factor, said Carl Watras, a researcher in the Wisconsin Department of Natural Resources.

Watras studied the impact of water levels on mercury amounts in inland lakes in the Great Lakes region. Monitoring changes in mercury levels in fish and loons in hundreds of Wisconsin lakes over the course of 30 years, he found that water and mercury levels fluctuate together.

But the question of whether this applies to fluctuating mercury levels in fish from the five Great Lakes is still open and needs further study, he said.

“I probably wouldn’t bet one way or the other,” he said. “It’s probably because the effects of the water level change in these large lakes, in the critical zone … it’s smaller than on the inland lakes.”

Lepak believes water levels are of little relevance to mercury in Great Lakes fish. The process that creates methylmercury, the mercury that is actually found in fish, can have a greater impact in small lakes. Instead, he said that you really need to focus on how the ecosystem is changing and the size of the fish.

“These ecosystems are actually great, perfectly clean for the mercury, but all the other factors are against the fish,” he said.

More from MLive:

MichMash: Unexplored Waters Ahead for Great Lakes Fishing

Michigan’s dying commercial fishing industry fears state bills may be the last nail in the coffin

“The battle is not over. The fight to shut down the Great Lakes pipeline has been going on for years

A History of Oil Spills and Battles Around Michigan’s Enbridge Pipeline

Trump presents himself as the champion of the Great Lakes, but his policies can do lasting damage

Great Lakes beach cleanup took a hit during the coronavirus summer

How Michigan Scientists Use Beach Testing Tools to Detect COVID-19 Infections

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PianoFight expands to Oakland and takes over The Flight Deck theater https://mhks.org/pianofight-expands-to-oakland-and-takes-over-the-flight-deck-theater/ https://mhks.org/pianofight-expands-to-oakland-and-takes-over-the-flight-deck-theater/#respond Wed, 07 Apr 2021 23:17:37 +0000 https://mhks.org/pianofight-expands-to-oakland-and-takes-over-the-flight-deck-theater/

Despite continued uncertainty over the return of theatrical performances, the Tenderloin’s Piano Wrestling don’t let the pandemic slow it down.

Instead, it is expansion in Oakland, taking over the neighboring theater the Flight Deck (1540 Broadway, between 15th and 16th streets).

The deal has been underway since November, when the Flight Deck announced it was relinquishing its lease. Fearing that Oakland’s only black box theater would be gutted and turned into a co-working space for startups, PianoFight took action, seeking funding from local foundations.

Co-founder Dan Williams said the Rainin, Hewlett and Zellerbach Foundations will contribute $ 100,000 to ensure “the theater remains a theater.”

“Nobody wants [the alternative]”said co-founder and artistic director Rob Ready.” Not even startups. “

The interior of the Flight Deck, soon to be PianoFight Oakland. | Photo: The cockpit /Bark

PianoFight occupied its Tenderloin space, with an on-site bar and restaurant, a cabaret stage and two black box theaters, since 2014.

Before the pandemic, it hosted a diverse collection of acts, from stand-up comedians to groups and improv groups. It was also entangled in the Tenderloin community, offering its spaces to Code Tenderloin and other local organizations during the day.

At the moment, the location of Tenderloin is rely on crowdfunding to succeed. He raised $ 55,000 from the community and secured both payroll protection program loans and economic disaster loans to help keep the business afloat.

Ready says the attraction of the Oakland expansion is its “badass artist community, already there, that makes it work.”

PianoFight’s house group, the Californicorns, have been performing in an Oakland studio since 2009, and the theater regularly collaborates with teams of independent artists in East Bay, such as Hoodslam and Tourette’s without Regrets.

The theater also plans to retain the employees of the former tenant of The Flight Deck, Set of tattered wings, to help support operations and planning.

“We love Oakland,” Ready said. “It’s full of great artists that we’re now going to be able to work with on a much deeper level.”

PianoFight has been operating at 144 Taylor Street since 2014. | Image: Kevin Y. /Bark

With a stage, risers and lighting already built, the space won’t need a lot of work, Williams said. All it takes is a few small cosmetic changes, including new signage and a fresh coat of paint in the lobby.

Since no theater can open until San Francisco and Alameda counties give the green light for in-person events, PianoFight turns to the virtual sphere. He will be hosting his own digital streaming event in early fall and hopes to help other Bay Area artists “get their work safely online as soon as possible,” Ready said.

In the meantime, fans can stay engaged through the theater’s social media feeds, which include a live events schedule, subscribe to its email newsletter, or offer financial support via Patreon Where Pay Pal.

“Or just send us nice emails with compliments – we love them too,” Ready said.

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Westpac Announces Low Interest Small Business Loans Under Small Business Recovery Loan Program https://mhks.org/westpac-announces-low-interest-small-business-loans-under-small-business-recovery-loan-program/ https://mhks.org/westpac-announces-low-interest-small-business-loans-under-small-business-recovery-loan-program/#respond Wed, 07 Apr 2021 23:17:36 +0000 https://mhks.org/westpac-announces-low-interest-small-business-loans-under-small-business-recovery-loan-program/

Westpac has expanded its support for small businesses impacted by the COVID-19 pandemic by releasing new low-interest loans under the federal government’s SME Recovery Loan Program.

Businesses affected by recent flooding are also encouraged to apply for funding under the program.

As of today, eligible new and existing small businesses can access the following loans:

  • 2.58% per annum interest rate for fully secured variable loans of 3 or 5 years1.
  • Interest rate of 3.48% per annum for variable loans fully guaranteed over 10 years1.

“The federal government’s SME Stimulus Loan Program will provide a lifeline for businesses that need more time and support to get back on their feet from the impacts of the COVID-19 pandemic and flooding,” he said. said Chris de, Managing Director of Westpac Consumer & Business Banking. Bruin.

“Small businesses are the engine room of the Australian economy and it is essential that we stay the course to help these businesses continue and grow as part of Australia’s broader economic recovery.

“This targeted support is necessary for sectors and geographies that still face ongoing challenges due to the effects of the pandemic. The new loans allow small businesses to access low-rate financing, with the ability to defer repayments, to provide additional respite for business owners.

“From tourism operators in Queensland to hotel business owners in South Australia, we have generated strong interest from clients to access the SME Recovery Loan Program to help them meet the challenges ahead,” said declared M. de Bruin.

/ Public distribution. This material is from the original organization / authors and may be ad hoc in nature, edited for clarity, style and length. The views and opinions expressed are those of the author (s). here.

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