3SocialSecurityMythsYouMustn’tBelieve|BusinessNews

Ifyouknowoflocalbusinessopeningsorclosings,pleasenotifyushere. · · · ReneandGriselliesBeniquehaveopened Ezekiel47Cafe at10S.FifthAve.,offFifthandPennavenues,inWestReading.  · AlterEgoSalonandDaySpa inEmmausisholdingagrandopeningSunday,May22,from11a.m.to3p.m.,witharibboncuttingatnoon.  · OrigenLatinFusionhasopenedatthesiteoftheformerTomcatCafeinSinkingSpring,BerksCounty.  · SellersvilleSeniorResidences willholdaribbon-cuttingceremonyMay24.TheBucksCountyaffordable-housingcommunityforadults55andolderhas50apartments,witheightallocatedforpeoplewithbehavioralhealthneeds. · TheHouseandBarninEmmaushasopeneditsShedoutdoordiningandcigarbararea.TheHouseandBarnisat1449ChestnutSt.inEmmaus. · LaSpa&NailBarwillholdagrandopeningfrom11a.m.toclosingonFriday,May20,witharibboncuttingat11a.m.The2765PapermillRoad,Wyomissing. · RealtorAmandaVachrisandtheSchuylkillChamberofCommercewillholdaribboncuttingatVachris’snewKellerWilliamsRealEstateofficeat15St.JohnSt.,SchuylkillHaven,at4p.m.onMay24. · IlGaetanoRistorante willholdagrandopeningonFriday,May20,at5:30p.m.The665ColumbusAve.,Phillipsburg. · FirstCommonwealthFederalCreditUnionwillholdagrandopeningatitsnewheadquartersinTrexlertown,6126HamiltonBlvd.,onMay18. · VinylPressSigns&GraphicshasrelocatedwithinEmmaus.Thenewsiteis15S.SecondSt.,notfarfromtheformerSixthStreetlocation. ·Pedro’sCafeinEmmaustoclose ·SVSports(formerlySchuylkillValleySports)tocloseQuakertownlocation · FlemingtonDIYwillhostaGrandRe-Openingon May14at 26StanglRoad,Flemington. Thecelebrationwillkickoffat10a.m. …

DealmakingGoesIntoOverdrive–TheHollywoodReporter

Withthe2022midtermelectionskickingintogear,andwhatissuretobeaheatedpresidentialelectioncyclejustoverthehorizon,starjournalistsareinhighdemand.ButwhileTVanchorsandcorrespondentshaveseentheirprofiles(andcompensation)risefordecades,thepastfewyearsinparticularhaveturbochargedthatshift. “Newstalentinthelastfiveyearshavebecomestarsintheirownright,”saysUTAco-presidentJaySures,notinghisagency’sclients:“ThelikesofDonLemon,DavidMuir,AndersonCooper,BretBaier,JakeTapper,NorahO’Donnell.Theyarestars.Theyarewalk-down-the-streetstars.Andasaresultofthat,theyarecompensatedinacommensuratewaywithwhattheybringtotheirrespectiveemployers,whichisarealtrustedsourceinnews—peopleenjoywatchingthemfordifferentreasons.” Thosehigh-profileanchorscannowreasonablyexpectdealsthattotalintheeightfiguresannually,especiallyiftheyincludeotherprojectslikepodcastsordevelopmentdeals.Andwithafreshelectioncyclenearing,thesejournalismstarsaregamingoutwaystomakesuretheyarepartoftheconversationandremaintopofmindfornewsjunkiesandcasualviewers,whethertheypayforcableTVornot.Ithelpsthatnewsissomeoftheonlyprogrammingthatconsistentlydoeswellonlineartelevision,evenasconsumerviewinghabits(nottomentioncorporatebusinessmodels)haveshiftedtowardon-demandstreaming. “ThereisareasonthatABC’sWorldNewsTonightWithDavidMuiristhemost-watchedshowinTVoutsideofsports,”saysWMEpartnerBradleySinger.“Thatsaysalotaboutviewerbehaviorandthevalueoftelevisionnews.” Thecrowdedmedialandscapeof2022looksvastlydifferentfromthewayitdidduringthe1980sandearly1990s,whenaseatbehindanetworkmorningoreveninganchordeskwasajournalist’sonlyrealhopeforamillion-dollarpayday. Butitwastheriseofcablenews—notablyCNNduringtheGulfWarandFoxNewsafter9/11—thatdramaticallyexpandedthelandscapeforanchors,andfortheiragents,whocannilyrecognizedthatA-listanchorscouldturnaroundanewsbroadcastjustaseffectivelyasanA-liststarcouldturnaroundafadingnetworkseries. ItwasthatmediauniversethathelpedturnfirmslikeN.S.Bienstock,ledbyRichardLeibnerandCaroleCooper,intopowerhouseagenciesinthenewsandinformationspace.UTAacquiredBienstockin2014,which,asTHRnotedatthetime,instantlygavetheagency“leadingmarketshare”inthebroadcastnewsbusiness. Withtheriseofstreamingvideo,theemergenceofpodcastsasaviablebusiness,explosivegrowthindigitalmediaand,inthewordsofSures,an“insatiabledesireforfreshcontent,”thepasteightyearsmayhaveseenasmuchchangeinthenewsbusinessastheprevious80. “Thelastseveralyearshaveshownthattheonlythingthatisconstantischange,”saysCAAagentRachelAdler. SowhileEdwardR.Murrow,BarbaraWaltersandDanRatherpavedthewayfortoday’sjournalistsnotonlyinfamebutalsoinfortune,theopportunitiestodayarefargreaterthantheywerebackthen. “Tobeajournalistrightnow,tobeabroadcasterrightnow,doesnotmeanyouhavetohaveabroadcasttelevisiondeal,”Singersays.“Itmeansyoucanbedoingstreamingnews,youcanbedoingpodcasting.Maybeyouareacorrespondentatabroadcastnetwork,maybeyou’reatcable,maybeyouaremakingthingsforNetflix.” Amongthesuperstarjournalistsandhosts,thatincreasinglymeansproductiondeals.RobinRoberts,GeorgeStephanopoulos,JennaBushHager,RachelMaddow,SunnyHostin—allhaveinkeddealstoproducespecials,documentaries,podcastsandotherfarefortheircorporateparentcompanies. Maddow,MSNBC’smost-watchedhost,istransitioningfromhostingfivenightsaweektoonenightaweeksothatshecanworkonoutsideprojects,includingascriptedfilmdirectedbyBenStillerbasedonherbookandpodcastBagMan.(WMEnegotiatedthemegadeallastyear.)“Theylikeitbecauseitisentrepreneurialanditgivesthemanotheroutlet,butitisalsogoodbusiness,”saysSinger.“Ifyouarepayingthesepeoplealotofmoneytobestarsinsideyourcorporation,whynothavethemproduceothertypesofcontent?” Buttheopportunitiesarewiderthanthat.ConsiderABCNewsbusiness,technologyandeconomicscorrespondentRebeccaJarvis:SpeakingtoanintimateroomfulloftopDisneyadvertisersApril25,Jarvisrecalledastorythatstuckwithherovertheyears,eversinceshewaspitchedaprofileaboutanup-and-comingSiliconValleygenius:TheranosfounderElizabethHolmes. Jarvisnevercoveredthatpitch,butyearslater,theinteractionledtoherhostingtheABCNews-produced,award-winningpodcastTheDropout,whichinturnwasadaptedasalimitedseriesforHulu,withJarvisasaproducer.“Shehadtofight[skepticsatABC]togetTheDropoutdone;ittookofflikewildfire,andwesoldtoFoxSearchlightandHuluinabiddingwar,”Suresrecalls. Butitalsopaystobeopportunisticandwillingtostrayfromwherethetraditionalaudiencemaybe,bettingthattherearenewsconsumerswhohaven’tbeenexposedtoyourwork.…

LIClisting:Analystsfearstockmaydipfurther

NEWDELHI:LifeInsuranceCorporationofIndia,thecountry’slargestlifeinsurerwithamarketshareof64.1percentintermsofpremiums,listedontheNSEatRs872at8.11%discountoveritsissueprice.ThescriptgotlistedatBSEatRs867.20pershare,8.62%percentdiscountoveritsissuepriceofRs949.ThesharesofthecompanyatdayendclosedatRs875.45pershareonBSEandatRs875.25pershareonNSE.TheinitialpublicofferingwasofferedatalowerpricebandofRs902pershareandhigherpricebandofRs949perequityshare.ThemarketcapitalizationofthecompanypostclosingstoodatRs.5.53lakhcroreasperBSEandRs.5.52lakhcroreasperNSE,whichmeansthatinvestorslostnearlyRs50,000croreonthestock’sdebutonMay17.Withthelisting,policyholdersandemployeesalsosawtheirinvestmentsturnnegative.LIChadofferedadiscountofRs60toeligiblepolicyholdersandRs45toretailinvestorsandemployees,whichtransalatesintoanissuepriceofRs889ashareforpolicyholdersandRs904forretailinvestorsandemployees.ThefirmraisedaroundRs21,000croreandwasvaluedatRs6.01lakhcroreatitsupperpricebandoftheissueofRs949ashare.AccordingtoBloombergresearch,LICwillbecomethesecond-worstlistingamong11firmsthatlistedgloballyandwhichraisedover$1billionthisyear.ASRMicroelectronicsCoLtdinShanghai,whichraisedalittleover$1billion,listedonJanuary14atanearly34percentdiscount.Analystsareconcernedthatthestockcoulddropfurtherasretailinvestorslookforlistinggains,littlegrowthprospectsforthelegacybusiness,risksoffurtherdisinvestmentbythegovernmentandtheabsenceofmajorincentivesforshareholders.“Webelievethatretailinvestorsarelikelytolookforlistinggains,sothereislikelytobesellingpressureonthestockinthenearterm.IfthestockfallsbelowIPOprice,itwillhurtallstocksinthissector,againnearterm.Thisdoesn’tchangethelongtermstory,buttellsyouthatifyouwanttomakemoneyfromthissector,youwillhavetobepatient.LICisaverydifferentbeastcomparedtootherpublicsectorgeneralinsurers-andyoushouldwaitforresultsoftheFY22(whichtheywillhavetoreleasesoon)beforeyoutakeabigleap…Rememberthoughthatthisisagovernmentcompanysoyoushouldnotgettooexcitedaboutitregardless,”saidDeepakShenoy,smallcasemanager.Thestockisa“goodportfoliohedgeagainstvolatility,”saidJayeshBhanushali,assistantvicepresidentforresearchatIIFLSecuritiesLtd.,butthesharescouldfaceheadwindsinthemediumtermifthegovernmentdecidestodiluteitsstakeinLICfurther,headded.A“3%-4%regulardividendcouldbeasweetenerthatwillmakeshareholdersstayput,”hesaid.“LICdidn’tpayanydividendsinthelastfinancialyear,sotherearehighchancesthatthecompanymightdeclareagooddividendthisyear,thusmakingitagooddividendplay,”saidSantoshMeena,HeadofResearch,SwastikaInvestmartLtd.“LIC’sdividendpayoutneedstobeattractivetokeepinvestors’faithinthestock,”saidChokkalingamG,astrategistatEquinomicsResearch&AdvisoryPvt.“Thestockhasplungedbelowthepriceitwasallottedtoretailinvestorsandifitfallsfurther,therehastobesomethingthatmakesinvestorsholdit.”Some,however,feelthecurrentdipistheperfecttimeforinvestorstoaccumulatethestockforthelong-term.Ifyouwanttobuyshareofcountry’slargestinsurancecompany,thismaybetheperfecttime.Thediponthepricehasgivenachancetothenewinvestorstoaccumulatetheirshareforthelongterm,accordingtoAjitMishra,VP-research,ReligareBroking.“WebelieveLICcontinuestobeasolidbetinthelongrunasitisaplayonthegrowthstoryoftheunder-penetratedlifeinsuranceindustry.Itssustainedmarketleadershipposition,robustpan-Indiadistributionnetwork,andshiftingfocustowardsprofitableproducts,thussupportingmarginsandimprovingpersistencyratios,willcollectivelymakeLICanattractivepickfromalong-termperspective,”saidBGopkumar,managingdirectorandchiefexecutiveofficer,AxisSecurities.“Newinvestorscantakeadvantageofthedipstoaccumulatethisshareforthelongterm…Thecompany’sfurtherdownsidewillbelimitedduetolowfloatpostlisting,”saidParthNyati,founder,Tradingo.LIC’sisthefourth-largestdealamongglobalIPOspricedthisyear.Itcomeswhenthereisadearthoflarge-sizeofferingsinfinancialhubsfromNewYorktoLondonandHongKong.Therehasn’tbeenanylistingexceeding$1billioninHongKongorEuropesofarthisyear.theweakstartalsobringsbackmemoriesofmarketdebutsbyanumberoflargepublic-sectorcompaniesthatfellbelowissuepriceonlisting.NewIndiaAssuranceCo.,listedinNovember2017,finisheditsfirstsession9%belowthelistingprice.Infact,ofthe21state-runfirmsthathavedebutedsince2010,halfarestilltradingbelowtheirrespectiveIPOprice.MacquarieCapitalSecurities(India)Pvt.startedcoverageofLIC’sstockwithaneutralratingandapricetargetofRs1,000.“ThecallhereiswhetherLICwillbeabletodiversifytheproductmixinfavorofhighmarginnon-parproducts,”analystsledbySureshGanapathywroteinareportTuesday,notingthattheinsurerhaslostmarketshareinindividualbusinessoverthepastseveralyearsduetolackofa“diversifiedproductportfolioandexcessivefocusonsinglepremiumandgroupbusiness.” WithinputsfromBloomberg Sourcelink

Asinflationslowsandrublerallies,Russiaishopingtoavoidacrisis

RussianPresidentVladimirPutin. Pool|Reuters Russiabelievesithasswervedafinancialcrisisasitscurrencyralliesandeconomicdataimproves,butstrategistssaythenumbersmasksomeuglytruthsforMoscow. Althoughinflationinthecountryisrunninghot,therearesignsthatpricerisesareslowingandwillcontinuetodoso,whiletheRussianrublehasgonefromanall-timelowinMarchtotheworld’sbestperformingcurrencythisyear. Meanwhile,economicactivityindicatorsareimprovingandRussiahasthusfarmanagedtoavoiddefaultingonitsforeigncurrencydebt,despiteWesternsanctionsfreezinglargeswathesofitsreserves. Russianinflationcameinatatwo-decadehighof17.8%year-on-yearinApril,upfrom16.7%inMarch,butpricerisesarebeginningtoshowsignsofslowing.Consumerpricegrowthslowedsharplyfrom7.6%inMarchto1.6%inApril,andnon-foodgoodspricesincreasedbyjust0.5%,versus11.3%inMarch. Furtherrisesinthecomingmonthsareexpectedtobemodest,andthemarketbackstheCentralBankofRussiatocontinuetounwinditsemergencyinterestratehike,possiblywitha200basispointcutinJune. ItcomesaftertheCBRimplementedanemergencyratehikethattookthecountry’skeyinterestratefrom9.5%to20%inlateFebruary,severaldaysafterRussia’sunprovokedinvasionofUkraine,inabidtorescuetheruble.Thecentralbankhassincebeenabletomovetherateto14%astheoutlookforinflationandthecurrencyimproved,andCapitalEconomicsseesfurtherchangesahead. “Today’s[inflation]figureswillfurthersupportthecentralbank’sassessmentthattheacutephaseofRussia’scrisishaspassed,”EmergingMarketsEconomistLiamPeachwroteinanotelastweek. “It’spossiblethatconsumerpricesrisebylessthan1%m/minMayasawholeandthatheadlineinflationendsuppeakingatjustbelow20%laterthisyear.” Rubleresilience Theslowingpriceincreasesfollowasteepappreciationoftheruble,whichinturnreducesimportprices. AsofTuesdaymorninginEurope,therublewastradingatjustover62tothedollar,havingplungedtoanall-timelowof150tothedollaronMarch7,followingtheannouncementofasuiteofinternationalsanctionsinresponsetoRussia’sinvasionofUkraine. Despitethedollar’sbroadstrength,owinginparttoitsperceivedsafe-havenstatusamidriskaversioninglobalmarkets,thegreenbackisdownalmost17%againsttheRussiancurrencyyear-to-date. StrictcapitalcontrolmeasuresfromRussia’scentralbank—whichincludeorderingcompaniestoconvert80%oftheirforeigncurrencyrevenuesintorubles—havehelpedrevivetheailingcurrency.TheKremlinalsoinitiallybannedRussiancitizensfromtransferringmoneyabroad,andtransfersarenowlimitedto$10,000permonthforindividualsuntiltheendof2022. “TheRussianeconomycontinuestorecoverfromtheinitialshockinlateFebruaryandearlyMarch,”Goldman’seconomistClemensGrafewroteinanoteearlierthismonth.”Concernsaboutfinancialstabilityarefading,theRUBhasstrengthenedbacktoearly2020levels.”…

KeepingFinancesInCheck:30+How-TosFromVeteranRealEstateAgents

Therearesomanyfinancialaspectsofthebusinessonallsidesofthetransaction,andyetonethingwehearoverandoveragain,isthatnotenoughistaughtonthetopic.So,weroundedupsomesageadvicefromcontributorstohelpguideyouontheareasthatmightbenew,putonthebackburnerorlongforgotten. Newagentadvice 9financialtipsfornew(andnot-so-new)agents  Herearesomefinancialtipsandtechniquesthatcanhelpyouearnmore,savemoreandprepareforeventualretirement. Anewrealestateagent’sguidetofinancialplanning:Year1 Ifyou’reabrandnewagent,youneedtokeepyoureyeonthebottomlinewhileeffectivelypromotingyourbusiness.Here’sadvicefromtheexpertstokeepyourbudgetontrackandbusinessbooming. PLAN:A1-yearmarketingcalendarforbrandnewagents Asanewbiewithlittleexperience,whippinguparobustmarketingplancanfeellikeanimpossibletask.Hereisamonth-by-monthbreakdowntogetyouthroughyourfirstyearinrealestate. 5smartfinancialandleadgenmovesforbrandnewagents Startingoutintherealestatebusinesspresentsitsownuniquechallenges.Bytakingthetimetoconsideryourfinancesandleadgenerationactivities,you’llsetyourselfupforsuccessinthelongrun. Makingbank Everythingtoknowabouthowagentsaremakingmoneyin2022 Salescommissionsarestillthenorminrealestate,buttheindustryisalsointhemidstofarapidevolutionwhenitcomestoagentpay. Repeatcustomersonlock!Howthisagentachievesa99.7%repeatclientrate Ifyou’relookingforconsistentgrowthinyourbusiness,makesureyouaredevotingtimeandefforttothepeoplewhoalreadyknow,likeandtrustyou,saysJimmyBurgess.Theserelationshipsaretheseedsforfuturegrowth. Yoursuccesshingesonthese3numbers:Doyouknowthem?…

Costoflivingcrisis:Inflationhits40-yearhighof9%|BusinessNews

Inflationhashititshighestlevelin40yearsamidthedeterioratingcostoflivingcrisis. Therateshotupto9%lastmonth-itshighestlevelsincecomparablereadingsin1982. DatareleasedbytheOfficeforNationalStatistics(ONS)showedabroad-basedhikeinpricesforeverydaygoodsandservicesduringApril-withalmostthree-quartersoftheincreaseaccountedforbytheunprecedented54%increaseintheenergypricecapwhichkickedinatthestartofthemonth. Thehighestpricesonrecordforbothpetrolanddieselwereothermajorfactors. Themainupwardpriceshiftsoverthe12monthstoApril: •Naturalgas-95.5% •Electricity-53.5% •Motorfuels-31.4% •Furnitureandmaintenance-10.7% •Restaurantsandhotels-8% •Foodandnon-alcoholicdrinks-6.7% Theheadlineconsumerpricesindex(CPI)measurehadstoodat7%inMarchastheimmediateeffectsofRussia’swarinUkrainefilteredthroughtothelikesoffuelforecourts. Costoflivingcrisislatest ItwasontopofexistinginflationcausedbytheeasingofCOVID-19restrictionsthatsawdemandwidelyoutstrippingsupplyacrosstheglobaleconomy. ONSchiefeconomistGrantFitznersaidofthelatestdata:”InflationrosesteeplyinApril,drivenbythesharpclimbinelectricityandgaspricesasthehigherpricecapcameintoeffect. “Aroundthree-quartersoftheincreaseintheannualratethismonthcamefromutilitybills.”…

Businessownersgetadviceontech,health|LocalNews

ThreewomengaveusefuladvicetoaroomfullofentrepreneursTuesday. LoveleeBrooks,DivineBunchandSakinahBunchspokeattheRadcliffSmallBusinessAlliance’smonthlymeeting,providingtipsfromsearchengineoptimizationtomanagingmentalhealth. BrooksownsLoveleeOccasion&Etc.,avirtualsolutionsbusiness.Shesaidvirtualassistants,whichareremotecontractworkersthatcanperformavarietyofservices,canbevaluabletosmallbusinessowners,especiallythosethataren’tastechsavvy.Shesaidinabusinessenvironmentbecomingmoreandmoredependentontheinternet,beingofflinemeansalienatingalargeportionofpotentialcustomers. “Thereisanestimated9billionpeopleonEarth,and4.6billionofthemareonsomebody’ssocialmediaplatform,”shesaid. Shesaidmakinggooduseofsocialmediawasn’tasstraightforwardasitmayseem,andconsultingwithavirtualassistantmayhelpbusinessownersgetbetterresults. DivineBunchspokeaboutsearchengineoptimization.Shecomparedsearchengineoptimization,orSEO,tohavingadesirablespotintheyellowpages. “Peopledon’twanttodigthroughallthedifferentlettersintheyellowpagestofindabusiness,”shesaid. OwnerofDivineWritingAgency,DivinecreateswrittencontentforwebsitesandusesSEOtechniquestoputbusinesseshigherinsearchengineresults.Shesaidconsistentcontentpostingandlinkscomingbacktoyourwebsitefromotherplacesresultedinhigherplacement,meaningpotentialcustomersweremorelikelytoseeyourbusinessonline. Sakina,aholisticcoachandwellnessadvocate,stressedtheimportanceofbalancingworkwithmentalandphysicalhealth.Shesaidshestruggledwithdepressionforyears,workingfrommorningtonightandeatingwhatevershecouldgrab.Shewarnedthat,eventually,itwouldendbadly. “Ifwedon’tmaketimeforourwellness,wewillbeforcedtomaketimeforourillness,”shesaid. Shesuggestedprofitdidn’talwayshavetobemoneyandsaidgoodrelationshipsandfriendshipsareworthbuilding. “Isprofitlegaltenderoracurrencywereinvestinthelivesofothers,especiallytheonesthatwelove?”sheaskedrhetorically. Shesaid72%ofentrepreneursexperiencementalhealthconcernsatsomepointintheirlife,and49%experienceachronicmentalillness. “Workyourbusiness,butneverletyourbusinessworkyou,”shesaid. Sourcelink

AerCapHoldings:Largestaircraftownerlost113planestoRussiaduetosanctions

Theseizuresoftheplanesand11jetenginesbyRussianauthoritiescausedAerCaptotakea$2.7billionpre-taxchargeduringthequarter,causingthecompanytoreportanetlossof$2billionratherthanthe$500millionprofititwouldhavemadewithoutthehit.ButcompanyexecutivessaidthequarterwasactuallyagoodoneandtheyseebettertimesaheadasglobaldemandforflyingcontinuestorecoverfromtheCovidpandemic. “ButfortheimpactofRussia,thisisastrongunderlyingquarterforthecompany,”saidCEOAengusKellyincommentstoanalysts.”Acrossallourbusinesslines…weareseeingimprovingdemand,increasedutilizationofourassetsandtheimprovingfinancialhealthofourcustomers.” InvestorsagreedandsharesofDublin-basedAerCap(AER)gained6%inafternoontradingfollowingthereport. Thecompanywasabletorecover22jetsand3enginesbeforetheywereseizedbyRussianauthorities.Ithasfiledinsuranceclaimstoseektorecoverthelostaircraft,althoughsomeofthoseclaimsarewithRussianinsurancecompanies.ThosepoliciesarebackedbyWesternre-insurancecompanies,butAerCapstatedthat”thetimingandamountofanyrecoveriesunderthesepoliciesareuncertain.” Thecompanyownsatotalof1,624aircraft,farmorethanownedoroperatedanysingleairline.ThejetslosttoRussiarepresentedlessthan5%ofthenetvalueofAercap’sfleet,whichgrewlargerduringthepandemicbypurchasingrivalleasingfirmGECASfromGeneralElectric(GE). Aercapshouldeasilyrideoutthefinanciallossofthejets,saidRichardAboulafia,managingdirectorwithAeroDynamicAdvisory.Evenifthewarweretoendandthesanctionsweretobelifted,theplaneshavelosttheiroperatingcertificatesintheeyesofWesternaviationregulators. “Oncethedocumentationgoes,there’sverylittlepointineventryingtogetthemback,”hesaid. WhenRussiainvadedUkraineonFebruary24,Russia’saircarrierswereoperating861commercialplanes,accordingtodatafromaviationanalyticsfirmCirium.Justoverhalfofthoseplanes,withanestimatedmarketvalueof$9.2billion,wereownedbynon-Russianleasingcompanies. SanctionsbymultiplecountriesrequiredinternationalaircraftleasingcompaniesthatownedthejetstorepossessthembytheendofMarch.Anestimated79jetswererepossessed,butRussiaannounceditwasnationalizinghundredsmore. Sourcelink

Bidenadmin’s‘bureaucraticbungling’madebabyformulashortageworse,CEOwhorescuedGMsays

Rep.NancyMace,R-S.C.,discussesthebabyformulashortageasAbbottLabsandtheFDAreachadealtoreopentheplant,theWhiteHousebeingchallengedonraisingtaxesoncorporationsandBiden’spresidency. CEOandcorporaterecoveryexpertresponsibleforturningaroundGeneralMotorsin2009blamestheBidenadministration’s‘bureaucraticbungling’andahostofcorporateandgovernment‘screw-ups’forexacerbatingtheinfantformulacrisis. TurnaroundCEOandGoldmanSachsalumHarryWilsonhasspentthelast30yearsrescuingcompaniesonthebrinkofcollapsebycuttingwastefulspendingandreorganizinginefficientcorporatestructures.In2009,duringtheaftermathofthe2008economiccrisis,Wilson,alifelongRepublican,wasbroughtinbytheObamaadministrationasasenioradvisertotheU.S.DepartmentoftheTreasuryandledtheturnaroundofGeneralMotorsafteritfiledforChapter11bankruptcy.  BABYFORMULASHORTAGE:CHANGESABBOTTMADEAHEADOFMICHIGANPLANTRESTART Now,asacandidateforgovernorofNewYork,WilsoniscallingoutboththeBidenadministrationandcorporateleadersfor‘failures’thathaveexacerbatedababyformulashortagethatcameontheheelsofaproductrecallattheAbbottplantinMichiganfollowingreportsofcontaminationandhassentparentsofinfantsinallcornersoftheU.S.intoafrenzy. PresidentBidentookheatfromtheliberalmedialastweek.(AP)Storeshelvesareemptyafterababyformulashortage. (APNewsroom;FoxNewsDigital/APNewsroom) “Becauseofbureaucraticbungling,slownessandnotdealingwiththeimplicationsofanoversupplyeconomy,wenowhavethistragicshortagethat’sreallyhurtingfamiliesacrossthecountry,”HarryWilsontoldFoxNewsDigital. WilsonsaidtherecessiontheU.S.ispotentiallyfacingunderBidenmaybe”morecomplicated,hardertosolveandjustasdire”asthe2008economiccrisisandispartlytoblameforthefearanduncertaintymanyparentsarefacingfollowingtheAbbottplantshutdown. WilsonclaimsBiden’sAmericanRescuePlanAct(ARPA)isresponsibleforsky-highpricesaffectingconsumeracrossthecountryandsaidthenegativeimpactofthe$1.9trillionstimuluspackagedoesn’tendwithinflation. “Thereareothereffectsdrivenbyexcessdemand,drivenbyfederalgovernmentspending.So,forexample,becausethere’sexcessdemand,that’sputtingstrainonbothfreightandlaborandwell,that’strueforthewholeeconomy,”Wilsonsaid. WithoutthefreightandlaborcapacitytodealwithrampingupproductionoutsidetheAbbottplant,it’snotpossibletomeetthedemandforgoodsevenascriticalasinfantsupplies,accordingtoWilson. ABBOTTSAYSITWILLBEATLEASTTWOMONTHSBEFOREBABYFORMULAFROMSHUTTEREDPLANTHITSSHELVES “Soit’sadirectresultoftheBidenadministrationoverstimulatingtheeconomythroughARPA,”theCEOtoldFoxNewsDigital. Acknowledgingthat”recallsarealwaysarisk,”evenattop-performingcompanies,Wilsonstillisn’tconvincedthatthecontaminationwashandledefficientlybyeitherAbbottortheBidenadministration. HarryWilson,founderandchiefexecutiveofficerofthecorporaterestructuringfirmMaevaAdvisorsLLC,speaksduringaninterviewathishomeinScarsdale,NewYork,U.S.,onThursday,Aug.30,2012.WilsonwasaseniormemberoftheU.S.Treasury(MichaelNagle/BloombergviaGettyImages/GettyImages) “ThewhistleblowerwhoidentifiedtheprobleminAbbottcalledtheFDAinOctober.Theyweren’tevenintervieweduntilDecember.Theinspectionoftheplantsdidn’thappenuntilJanuaryfortherecalltofirsthappeninFebruary.”…

CharlestonCityleadersdiscussKingStreetbusinessimprovementplans

CHARLESTON,S.C.(WCBD)–KingStreetbusinessownersgavetheirfeedbacktoCharlestonCityCouncilonaplanthatthecitysayswouldimprovetheKingStreetexperience.Somebusinessessaytheplanwouldcostthemmoneyforthingsthecityshouldbehandling. “Whyisn’tlivabilitydoingtheirjobandwhyareyouaskingmetopaymoretaxes?”saysHarrisCohen,OwnerofKingStreetCookies. CharlestoncityleadersheardobjectionsandcommentsfromKingStreetbusinessownersabouttheBusinessImprovementDistrict(BID)plans.MayorJohnTecklenburgsaysthiswouldaddbeautificationandsafetyamenitiesthatwouldenhancethearea. “Itwillkeepitcleaner,saferandhelpallkindsofdailychallengesthatpresentthemselvesinarealbusybusinessdistrict,”saysMayorTecklenburg. TheBIDplansaresettocostnearly$11millionover10-yearsandcreateaspecialfeeassessedtopropertyownersinadditiontotheirnormaltaxes.Somebusinessownerssaytheydisapproveofthathappening. “Ireallydon’tlikeincreasingourtaxes.Iwouldrathertakeapercentageofourexistingtaxestogivetothisagencytoseeiftheydoagoodjobforayear,ortwoorthreewhateveritis,”saysoneowner. SuePrennerandherhusbandhaveruntheirbusinessonKingStreetformorethan40years.Prennerwantscitycouncilmemberstolookatusingcitybudgetmoneyfortheimprovements. “Wedon’tbelievethatnon-governmentalagenciesshoulddofunctionsthatareallocatedthroughtaxpayerfunds,tothecity,”saysPrenner. MayorTecklenburgsaystokeepupwiththegrowingcentralbusinessdistrictaddingthesemeasureswillmakeitamoreenjoyableareaforpeoplewhoworkorvisittheHolyCity. “WewanttoprovideextraservicetobusinessthatoccurshereinordertomakeKingStreetanessentialbusinessdistrict,asgreatasitcanbe,”hesays. CitycouncilwillgooverthebusinessobjectionsatnextTuesday’scitycouncilmeeting. Sourcelink

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