State bond sale of $50.5 million successful

first_imgState Treasurer Jeb Spaulding announced today that Vermont successfully sold $50.5 million in general obligation bonds. Demand was so high that once the selling period was open, the bonds virtually sold out in less than three hours. We are extremely pleased by the response of our bond offering, said State Treasurer Jeb Spaulding. We received approximately $123 million of orders for the $50.5 million in bonds that were available. The strong response indicates local investors and brokers are eager to invest in the State and support badly needed capital projects.The bonds are scheduled to settle, or close, on March 11, 2009. The State was able to lock in a total interest cost of 3.82 percent. The interest yield investors received on their bond purchases ranged from 0.62 percent for bonds maturing in one year to 4.60 percent for bonds maturing in 20 years. Bonds were offered in amounts as small as $1,000, with maturities ranging from one to 20 years.Demand for the State s bonds was enhanced by the State s strong bond rating. The bonds offered were rated by Moody s Investors Service, Standard & Poor s Ratings Service, and Fitch Ratings as Aaa, AA+ and AA+, respectively. The triple-A rating reflects the highest rating available to government issuers. High demand for the bonds allowed the State to offer a lower rate of return and consequently, lower the cost to the State for borrowing money for capital projects. Costs to the State would have been higher if Vermont s bond ratings were lower. In these challenging economic times, this bond offering gave Vermont investors an opportunity to take advantage of savings on state and federal taxes on investment earnings and also invest in bonds backed by the full faith and credit of the State of Vermont, explained Spaulding.Spaulding acknowledged that with such a strong response to the offering, many Vermont investors may have been disappointed by their inability to purchase the bonds. For future offerings, plans are to alert Vermonters about placing their orders for bonds much earlier. We will use the experience from this sale to help make the bond sale process more accessible and understandable with future issues, Spaulding said.This week s bond sale funds projects that were authorized by the State Legislature in the last legislative session. While the bonds were originally scheduled to be sold this past fall, the Treasurer s Office delayed the sale due to the extremely dysfunctional bond market and because the State s cash flow dictated that new funds were not needed until spring.As part of the annual approval of capital bonding projects, the State is expecting to again offer bonds for sale in the fall. Source: Treasurer s Officelast_img read more

Pedal with a Purpose: Cyclists Climb the Saluda Grade Ten Times to Conquer Cancer

first_imgEach April, Polk County cycling icon John Cash organizes, directs, and rides in his annual Climb to Conquer Cancer bicycle ride, to raise money for the Gibbs Cancer Center’s Survivorship Program in Spartanburg, S.C. John’s ride, held in Polk County, N.C., generally features up to ten climbs of the famous Saluda Grade on U.S. Highway 176, up to Saluda.John Cash’s Jeep, adorned with notes about folks he’s riding for. Photo by Mark SchmerlingEach trip up the grade is four miles, with 1,000 feet of elevation gain—not especially demanding, but doing it ten times as John does, and as a few others do, is tough, giving a total ride of 80 miles with 10,000 feet of elevation gain.Linda Votey, left, a five-year breast cancer survivor, who rides on the Beardon Josey Center for Breast Health team. Votey, who rode in this April 29 Climb to Conquer Cancer, is shown with Stacey Kindall, who coordinates the Gibbs Survivorship Program.Since 2007, John’s rides have raised about $90,000, with this year’s donations (still being accepted) setting a new record at at least $9,000. John rides about 12,000 miles each year, training on the steepest and most difficult climbs (of which there are plenty) in the area and region.“I would love to see cancer cured in my lifetime,” said Cash, who, with his wife Diane, owns and operates Nature’s Storehouse, a health food and natural supplement store in Tryon, N.C.last_img read more

NCUA launches new credit union search tool

first_imgNCUA released an improved online research tool on Tuesday aimed at making detailed information about federally insured credit unions easier to find for consumers.NCUA’s Credit Union Locator features upgraded credit union search functions and turn-by-turn driving directions to reach individual credit unions. The research tool also has a more optimized map feature with “pins” denoting each credit union’s location.This new tool provides consumers with the ability to search for a credit union by name, address, zip code or charter number. If a consumer selects a certain credit union branch, they can see information including a credit union’s Web address, phone number and if it has drive-through access. continue reading » 14SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

North Amityville Hit-and-run Victim Killed

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York A hit-and-run driver killed a 32-year-old Lindenhurst man when the suspect, who was driving a stolen SUV, crashed into the victim’s car in North Amityville on Tuesday night, Suffolk County police said.Reginald Celifie was driving a Honda Civic eastbound on Brefni Street when his car was struck by a southbound Chevrolet Trailblazer at the corner of Geraldine Avenue at 6:20 p.m., police said.Celifie was taken to Good Samaritan Hospital Medical Center in West Islip, where he was pronounced dead.The driver of the Trailblazer ran away from the scene. Investigators determined that the SUV had been reported stolen on Dec. 8.The suspect was described as a black man, approximately 20 years old, clean-shaven, between 5-feet, 7-inches tall and 5-feet, 8-inches tall with a slim build. He was wearing blue jeans, a black hooded sweatshirt and a black wool hat.Vehicular Crime Unit detectives are continuing the investigation and ask anyone with information regarding this incident to call them at 631-852-6555 or call anonymously to Crime Stoppers at 1-800-220-TIPS. All calls will remain confidentiallast_img read more

Sarinah, SMESCO to bolster growth of Indonesian MSMEs

first_imgThe minister, who also leads the government’s COVID-19 Response and Economic Recovery Committee, said the strategy was part of a collaboration with the Cooperatives and Small and Medium Enterprises Ministry to support MSMEs and national economic recovery amid the ongoing COVID-19 pandemic.Read also: MSMEs expect continued pandemic pressure even if operating online: SurveyThe government also launched on Monday an MSME digital platform called PaDi UMKM, which would allow SOEs to channel transaction and funding to MSMEs. Erick has also issued a ministerial regulation requiring tenders for SOE projects with the capital expenditure of between Rp 250 million (US$16,951) and Rp 14 billion to be opened for MSMEs.“This is to develop a healthy ecosystem for our MSMEs,” he said.Indonesia currently has more than 60 million MSMEs, which account for 60 percent of gross domestic product (GDP).Topics : The government aims to spur the growth of Indonesia’s micro, small and medium enterprises (MSME) by boosting the role of state-owned department store Sarinah and SMESCO, a government institution responsible for training and facilitating small and medium enterprises, in its efforts.“SMESCO will focus on providing coaching to improve the MSMEs’ products while Sarinah will focus on marketing those products,” State-Owned Enterprise (SOE) Minister Erick Thohir said in a press conference broadcasted on Monday.Erick said he wanted to improve the synergy between Sarinah and SMESCO to eliminate the sense of competition between the two state-owned institutions, adding that they should work together to support Indonesian MSMEs.last_img read more

Wolf Administration Holds Final Regional Summit on Warm Hand-Offs for Opioid Overdose Survivors

first_img Press Release,  Substance Use Disorder Harrisburg, PA – Wolf Administration officials recently concluded a series of regional summits to address warm hand-offs for opioid overdose survivors. The summits brought together stakeholders from state and local governments, the drug and alcohol treatment landscape, and health systems to address best practices and challenges in providing a warm hand-off to patients treated for an opioid overdose in order to strengthen warm hand-off programs around the commonwealth. Summits took place at locations across the state through April.“The opioid crisis in Pennsylvania needs to be attacked from all angles,” Governor Tom Wolf said. “And we know that we can’t help those suffering from opioid use disorder without a chance to get them into treatment after surviving an overdose. The warm hand-offs are that link between overdose and treatment, and I am pleased that these summits are getting that message out across the state.”Pennsylvania Department of Health Secretary Dr. Rachel Levine, Department of Drug and Alcohol Programs Secretary Jennifer Smith, and Major General Tony Carrelli, Pennsylvania’s Adjutant General and head of the Department of Military and Veterans Affairs, led the summits and were joined by stakeholders in treatment, health care, and local government.“The time after an overdose is a critical moment for someone with an opioid use disorder. With the expanded availability and use of naloxone, we are able to rescue people who are overdosing, but a direct referral to treatment and support in transitioning to that treatment is vital,” said Secretary Levine. “To save even more lives, we need strong partnerships. Those partners include our county drug and alcohol authorities, drug and alcohol treatment providers, Centers of Excellence, and the other stakeholders represented here today.”In February 2017, the Department of Drug and Alcohol Programs (DDAP), Department of Health, and Pennsylvania chapter of the College of Emergency Physicians released a clinical pathway designed to create an easy transition from care for an opioid overdose to treatment for an opioid use disorder. County drug and alcohol authorities are now required to establish a warm hand-off policy as part of the 2015-2020 grant agreement between DDAP and the Single County Authorities (SCAs).“Surviving an overdose is a critical moment that we must leverage to assist in getting the survivor the help they need to pursue a successful recovery,” said Maj. Gen. Tony Carrelli, Pennsylvania’s adjutant general and head of the PA Department of Military and Veterans Affairs. “In order to succeed, we need to collectively roll up our sleeves and get these survivors into a treatment program that will turn their lives around and put them on a path to recovery.”Representatives from the departments of Aging, Drug and Alcohol Programs, Health, Human Services, Insurance, and Military and Veterans Affairs and the Pennsylvania Commission on Crime and Delinquency participated in and oversaw the Wilkes-Barre summit, which was the final of six planned in conjunction with the Hospital & Healthsystem Association of Pennsylvania and the Pennsylvania Medical Society.“We are all here with the goal of providing better care to the people we serve, but do not lose sight of this goal after you leave here today,” said Secretary Smith. “Fighting this crisis requires coordination at all levels. Take what you learn and the relationships you build and use them to help the patients you care for.”For more information about warm hand-off and the clinical pathway, visit April 13, 2018 Wolf Administration Holds Final Regional Summit on Warm Hand-Offs for Opioid Overdose Survivorscenter_img SHARE Email Facebook Twitterlast_img read more

UK roundup: AG Barr, Canada Life, Merseyside Pension Fund

first_imgAG Barr, the Scottish soft-drinks manufacturer, has completed a £35m (€40.1m) bulk annuity deal with Canada Life for its pension scheme, covering more than 50% of the scheme’s pensioner liabilities, and focuses on those who have recently retired.The deficit for the AG Barr (2008) Pension and Life Assurance Scheme doubled from £13.7m at the end of July 2015 to £25m a year later, with the scheme’s defined benefit section closed to future accruals from 1 May 2016.The buy-in was primarily funded with Gilts, with the trustees taking advantage of good pricing to optimise their low-risk assets.Lead adviser to the trustees was Hymans Robertson, with Shepherd and Wedderburn providing legal advice. James Mullins, partner and head of risk-transfer solutions at Hymans Robertson, said: “This deal is illustrative of the excellent value the market for pensioner buy-ins represents at the moment.“This is being driven by new entrants to the market such as Canada Life. It’s therefore highly likely we’ll see an increasing number of schemes go down this route, taking them a step closer to fully securing benefits.”In other news, the Merseyside Pension Fund (MPF), the pension scheme for public sector employees in Merseyside, northwest England, has reported an investment return of 1.2% on its £6.8bn portfolio for the year to 31 March, compared with its bespoke benchmark return of -0.4%.This takes average annualised returns to 6.5% for the three years, and 7.1% for the five years, to the same date.The previous year had seen a return of 12.6%, compared with 10.9% for the benchmark.During 2015-16, equities in all geographical regions except North America made negative returns, but other asset classes were all in positive territory, with property by far the best performer, returning around 10% (specific figures are not published).There was little change in asset allocation year on year.The strategic allocations are 30% in overseas equities, 23% in UK equities, 20% in alternatives, 19% in fixed interest and 8% in property.However, councillor Paul Doughty, chair of the fund’s pensions committee, said that, as anticipated in the previous year, volatility in financial markets was picking up, and the fund had been positioned cautiously.With the next triennial valuation to be made as at 31 March, the MPF’s estimated funding level is around 76%, the same as for the previous valuation.last_img read more

Calls for nominations issued for areas offshore Canada

first_imgThe Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has issued calls for the submission of nominations of areas of interest located in the South Eastern Newfoundland Region and the Jeanne d’Arc Region.Source: C-NLOPBCall for nominations, labeled as NL18-CFN02 for South Eastern Newfoundland and NL18-CFN03 in Jeanne d’Arc, will assist the C-NLOPB in selecting parcels to be included in subsequent 2019 Calls for Bids, which will close in November 2019.Following the call for bids in 2019, any successful bidders would be awarded licenses in early 2020.The C-NLOPB said on Thursday that it was issuing the call for nominations under its scheduled land tenure system.According to the Board, offshore safety and environmental protection are important in all of its decisions. The South Eastern Newfoundland Sector NL01-SEN and the Jeanne d’Arc Region were included in the Eastern Newfoundland Strategic Environmental Assessment (SEA) concluded by the C-NLOPB, with input from a multi-stakeholder working group in 2014.Also, for any lands entirely or partially beyond Canada’s 200 nautical mile zone, additional terms and conditions may be applied, either through legislation, regulations, amendments to licenses, or otherwise, to any resulting license from a call for bids to meet obligations under the UN Convention on the Law of the Sea.To remind, the last call for nominations issued by the C-NLOPB was for areas of interest located in the Eastern Newfoundland region in January.last_img read more

Ponant Takes Delivery of Newest Cruise Ship

first_imgFrench cruise company Ponant has received its new cruise ship, Le Bougainville, bringing its fleet to eight vessels.The ship, which is the third in the Ponant Explorers series, joined the company on April 5, 2019.The unit left Søvik in Norway in the morning hours of April 8 and is currently sailing to Malaga, Spain, from where it would start its maiden cruise voyage on April 15. It will be officially inaugurated on June 4.Le Bougainville was constructed by VARD, the Norwegian subsidiary of Italy’s Fincantieri. The company’s fourth vessel from the batch, Le Dumont-d’Urville, is scheduled to be handed over from the shipyard in June 2019.The remaining three units under construction, namely Le Bellot, Le Jacques Cartier and Le Commandant Charcot, are expected to join the fleet in April and July 2020, and May 2021, respectively.“I wanted the ships in the Ponant Explorers series to embody the very best in expedition cruise. Le Bougainville is the incarnation of that,” Jean Emmanuel Sauvée, CEO and co-founder of PONANT, said.?? #Live from Søvik, in Norway, where our ships the Le Bougainville and the Le Dumont d’Urville are both currently being built!? One is due to take to the sea in a few days, the other is set to leave the shipyard in June!See you very soon onboard— PONANT Cruises (@ponant_cruises) April 4, 2019last_img read more

Jewish community in Toronto supports a peaceful Caribbean

first_imgTORONTO, Canada — During a special service for Israel on Tuesday night held at the Beth Avraham Yoseph Synagogue in Toronto, Canada, under the theme “Canada standing with Israel and Israel’s right to exist in the Middle East,” participants also expressed solidarity with the aims and objectives of the organisers of the Peaceful Caribbean Conference, scheduled to be held in Barbados next month, in their initiative to seek solutions to the spread of violence and terrorism in the wider Caribbean.(L-R) Peaceful Caribbean Conference Media Director Melanius Alphonse; Conference Director Rebecca Theodore; and Amir R. Gissin, Israeli Consul General in TorontoConference director Rebecca Theodore participated in the discussions and took the opportunity to draw attention to the ongoing efforts by Iran to establish a foothold in Latin American countries — in North America’s backyard – specifically in Venezuela, which provides a springboard for activity in the region.She pointed out that Iran and its emissaries in the region also engage in extensive social, cultural, and religious activity aimed at exporting the Islamic Revolution. The resulting infrastructure in Latin America could, in time of need, help Iran act against the United States itself or against Western interests in Latin America in various scenarios: if its nuclear installations are attacked by Israel and/or the United States, or if, should Iran’s sense of isolation and encirclement intensify, it seeks to initiate crises with the US, perhaps on the model of the Cuban missile crisis. In the meantime, according to Theodore, Iran is exploiting the relative proximity to the US to illegally penetrate its territory (via Mexico) as well as to prepare a terror and sabotage infrastructure within the US itself.Equally, Iran and Hezbollah will take and most likely are taking advantage of Venezuelan ties and influence in the wider Caribbean to infiltrate the small countries and islands of the region, thereby moving ever closer to the United States and Canada.Members of the Jewish community in Toronto have expressed a firm interest in the aims and objectives of the Peaceful Caribbean Conference 2012 and indicated a willingness to attend and support a presentation at the Jamaican Canadian Centre in Toronto on Saturday, March 17, 2012, at 3:00 pm in support of the conference.By Caribbean News Now contributor Share 52 Views   no discussions Share Sharing is caring!center_img Share Tweet FaithInternationalLifestylePrint Jewish community in Toronto supports a peaceful Caribbean by: – March 9, 2012last_img read more