Our 6 ‘Best Buys Now’ Shares Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. “This Stock Could Be Like Buying Amazon in 1997” Why Tesla shares jumped more than 20% this week I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Simply click below to discover how you can take advantage of this. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! TomRodgers has no position in any of the shares mentioned. The Motley Fool UK owns shares of and has recommended Tesla. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Tesla (NASDAQ:TSLA) shares have increased in value fivefold in 2020 but this week saw a particularly sharp rise. The electric carmaker shot up more than 20% to hit its highest price since early October. So what exactly happened?5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Index gainsOn Monday 16 November, Tesla announced that it would enter the S&P 500. This is a US stock index that includes 500 of the biggest companies in the country. Along with the Dow Jones, it is a major benchmark used to track how the US economy is performing. It remains one of the most popular ways to compare US stocks and shares. At a market cap of $470bn, Tesla is more valuable than 99% of the companies currently listed on the S&P 500. In fact, its inclusion would slot it into the top 10 most valuable companies on the index, above JP Morgan Chase, Johnson & Johnson, Walmart, Visa, and Mastercard. Topping the list of the S&P 500 highest market cap companies are Apple, Microsoft and Amazon. Google parent company Alphabet, Facebook, and Warren Buffett’s Berkshire Hathaway round out the list. Tesla’s second-largest investor, FTSE 100-listed Scottish Mortgage Investment Trust, cut its 7.6% stake to 4.25% recently. The flagship Bailie Gifford fund cited whopping valuations for Tesla shares as a reason to take profits. High profileGaining entry to the S&P 500 is also a marker of respect. Just like being added to the FTSE 100, it exposes a company to far more liquidity than it would have otherwise. This means there are far more buyers and sellers for a particular stock. The S&P 500 is weighted by valuation. So the bigger a company’s market cap, the greater proportion of the index it takes up. The minimum market cap to be added to the S&P 500 is just shy of $10bn.This higher profile is not just limited to interest from smaller private investors. Massive index mutual funds and exchange traded funds will also have to buy Tesla shares to accurately replicate the performance of the S&P 500. So it is reasonable to assume that demand for Tesla shares is likely to rise. How Tesla shares made itThe gatekeepers of the S&P 500 demand that companies on the index must be profitable. Specifically, they require that a company must have been in profit in its most recent financial quarter and across the last financial year. Profit was never part of Elon Musk’s early plans to build value into Tesla shares. The wily entrepreneur was laser-focused on using debt to capture market share as well as reinvesting cash to build his giant Gigafactory battery storage plants.And Tesla has been heavily reliant on selling regulatory credits to other electric vehicle firms — rather than making margin on its cars — for its profits. Without these credits, Tesla would have made a loss in the first half of 2020. But better-than-expected third quarter results to the end of September 2020 showed Musk making a net income of $331m on revenues of $8.7bn.Tesla shares will officially join the S&P 500 on Monday 21 December. Enter Your Email Address Image source: Tesla Tom Rodgers | Thursday, 19th November, 2020 | More on: TSLA I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. See all posts by Tom Rodgers
Editor’s Note: This is the ninth in a series of 24 articles published by The Apopka Voice in 2017 that were among the most noteworthy. We will post all of them from December 26th and December 31st. Then on Monday, January 1st we will poll our readers and let them decide which is Apopka’s biggest story of 2017.Story #9: Klouse named Firefighter of the YearFirst published June 10th, 2017Engineer Donald Klouse of the Apopka Fire Department was named Firefighter of the Year at the Apopka Area Chamber of Commerce’s annual Gala event held at the Highland Manor Friday.AFD Engineer Donald Klouse“This award is reflective of all the characteristics and traits that embody the essence of what a career firefighter and emergency responder possess,” said AFD Chief Chuck Carnesale in a speech at the event. “All fire department members are witness to courageous acts of valor, emotional moments of empathy, the outstanding deliverance of leadership, and generous acts of kindness. This year the member that has encompassed so many of these characteristics is Engineer Donald Klouse.”Klouse started his career of service in 1974 with the US Navy serving for 20 years, and retiring as a Chief Petty Officer after an exceptional career which included his last tour on a US Naval Nuclear Submarine. In wanting to continue his service in a different capacity, he chose to enter into the EMS and Fire Service as a second career as an emergency responder.In 1995, Klouse was hired by the AFD, and he quickly was seen as an asset to the community. Later in 1998, he was promoted to the rank of Engineer surpassing others during an exam which is considered to be the most comprehensive promotional exam in the fire service. Several years later in aspiring to continue his growth and educational desires, he successfully completed the rigorous 12-month long Paramedic Program.But away from the AFD, Klouse has another side.Engineer Donald Klouse (pictured standing in the center) was named Firefighter of the Year.His commitment to local organizations during times of needs has proven to be an example for others to follow. He can oftentimes be seen donating his personal time at local food banks and has made himself available for many years during civic events at a moment’s notice. He even dressed as Santa Clause this past Christmas and delivered gifts to all of the patients at Sunbelt Health and Rehab Center here in Apopka. Each Christmas he will purchase several bicycles for less fortunate children, assuring that in a small way he can help put a smile on their face. These actions have been occurring for many years and are unsolicited, and just something that brings joy to him and his family.“Engineer Klouse has been a valued member of this department and I could spend much more time describing all his other accomplishments, yet it was never his style to brag,” said Carnesale. “Don Klouse has shown his family, members of the community, and his fellow firefighters exactly what determination and strong will can produce.” Support conservation and fish with NEW Florida specialty license plate Please enter your name here You have entered an incorrect email address! Please enter your email address here The Anatomy of Fear LEAVE A REPLY Cancel reply TAGSApopka Area Chamber of CommerceApopka Fire DepartmentEngineer Donald Klouse Previous articleWhat Kwanzaa means for black AmericansNext articleThe Apopka news year in review: 25-year veteran promoted to APD Deputy Chief Denise Connell RELATED ARTICLESMORE FROM AUTHOR Free webinar for job seekers on best interview answers, hosted by Goodwill June 11 Share on Facebook Tweet on Twitter Please enter your comment! Save my name, email, and website in this browser for the next time I comment.
ArchDaily “COPY” Chile ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/538812/extension-in-casablanca-ricardo-atanacio-balbontin Clipboard ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/538812/extension-in-casablanca-ricardo-atanacio-balbontin Clipboard “COPY” Extension in Casablanca / Ricardo Atanacio Balbontin Architects: Ricardo Atanacio Balbontin Year Completion year of this architecture project Save this picture!© Aryeh Kornfeld+ 13 Share Collaborators:Diego Terán, David ValenzuelaConstruction:Faena ConstrucciónCity:Casablanca, ChileCountry:ChileMore SpecsLess SpecsSave this picture!© Aryeh KornfeldText description provided by the architects. The project is the extension of an adobe house located in the Casablanca Valley. The existing house is located in a low vegetation perimeter of an area with high light exposure and temperatures that oscillate greatly, so the intermediate exterior spaces are limited and in high demand.Save this picture!PlanThe original house is a characteristic typology in rural areas, a house of 90m2 is located on the edge of a road, built in adobe and with thermal conditions suitable for its location.Save this picture!© Aryeh KornfeldThe project is designed between the original house and a new structure – the grapevine – that defines the distances and the new spaces. The extension of the new elements yields interior, intermediate and exterior spaces, protects from the sunlight and supports vegetation immediately next to the house. It establishes new limits with the immediate landscape, builds and organizes an exterior that lacks a higher spatial organization (however it maintains a territorial order).Save this picture!Exploded AxonometricThe space between the grapevine and the house is designed with a roof that keeps a free interior space and that requires slender and specific supports, defining a spatial condition inverse to that within the adobe house, producing two spatial situations appropriate for each activity.Save this picture!© Aryeh KornfeldThe structure of radiata pine, in 3×8 pillars, allows the overall construction of the house, the roof is structured in 4.8m pine beams, all with carbonileo finish and covered with asphalt membrane, structured in 4 pine beams, installed as inverted beams that lower the overall height and maintain the volume subordinate to the existing house and pattern.Save this picture!© Aryeh KornfeldThe glass is inserted into the pine openings with a frame with 4 mm steel angles that allow fixing the glass directly, it is protected from the deformations of timber by the steel.Project gallerySee allShow lessCraigieburn Library / Francis-Jones Morehen ThorpSelected ProjectsWhy Not Hand A Hermit Crab a Shelter?Architecture News Share 2013 Year: Projects Houses CopyHouses, Extension•Casablanca, Chile, Chile Extension in Casablanca / Ricardo Atanacio BalbontinSave this projectSaveExtension in Casablanca / Ricardo Atanacio Balbontin CopyAbout this officeRicardo Atanacio BalbontinOfficeFollowProductsWoodConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesRefurbishmentExtensionCasablanca, ChileCasablancaChilePublished on August 25, 2014Cite: “Extension in Casablanca / Ricardo Atanacio Balbontin” [Ampliación en Casablanca / Ricardo Atanacio Balbontin] 25 Aug 2014. ArchDaily. Accessed 11 Jun 2021.
CopyHouses, Houses Interiors•Belén de Escobar, Argentina Projects ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/937806/escobar-house-luciano-kruk Clipboard Save this picture!© Daniela Mac Adden+ 36Curated by Clara Ott Share ArchDaily Photographs Photographs: Daniela Mac Adden Luciano Kruk Houses “COPY” Escobar House / Luciano Kruk Lead Architect: 2019 Argentina Year: Area: 282 m² Year Completion year of this architecture project Project Coordinator:Belén FerrandCollaborators:Ekaterina Künzel, Josefina Perez Silva, Christian Studer, Andrés Conde BlancoCity:Belén de EscobarCountry:ArgentinaMore SpecsLess SpecsSave this picture!© Daniela Mac AddenText description provided by the architects. Escobar House is located in Haras Santa María de Escobar, a gated community on the North corridor, 54 km away from the center of Buenos Aires city.The ample neighborhood’s lots are organized around a golf court. The one on which Escobar House lies is characterized by its plain topography and its privileged back view towards this court and a vast green area oriented to the North.Save this picture!© Daniela Mac AddenSave this picture!Save this picture!© Daniela Mac AddenThe client—a young couple—asked for a weekend house that, in the short term would become their permanent home.Intended as the most prominent space in the house, the social area would have a clearance higher than that of the rest of the rooms and it would rise above the natural terrain’s level in order to achieve grander views over the exterior surroundings.Save this picture!© Daniela Mac AddenThe brief included an en suite master bedroom and two secondary bedrooms for the children to come, who would also make use of a playroom as far from the social area as possible.They requested that the living –dining room open into a semi covered expansion directly attached to a swimming pool. The house should open up to the vegetation around and should have areas especially designated for its contemplation.Save this picture!© Daniela Mac AddenSave this picture!Save this picture!© Daniela Mac AddenWe proposed a house made of exposed concrete and glass, which don’t need much maintenance.We intended to produce architectural synthesis regarding floorplan organization and unicity when it came to total morphology.Save this picture!© Daniela Mac AddenIt was decided that the main platform, containing the entrance and the social area, would be the starting point of our project, disposing the rest of the rooms at half height. This articulation made it possible to connect the rooms organically while at the same time providing them with their independence.Save this picture!© Daniela Mac AddenSave this picture!Save this picture!© Daniela Mac AddenA circulatory and services corridor on the front of the house gives privacy from the street to the nobler rooms, which are oriented in the opposite direction, towards the lot’s back. Being almost blind towards the outside, this corridor opens through longitudinal cracks. Most of the house’s front is shut, whereas the rear connects fluidly with the outside through a completely transparent shell.The supporting structure is organized around two parallel inverted beams running along the whole house. So as to visually emphasize the volume’s horizontality, these beams were set back from the closing shell, both at the front and the back.Save this picture!© Daniela Mac AddenLying according to the space’s interior organization, these structural stripes help arrange the service corridor at the front, the social areas and the semi covered deck at the back.Moreover, we aimed at framing the views into rectangles of apparent horizontality to project them towards the vegetation outside and the golf court at the back. With the same intention, lines of trees were laid out on the lot’s limits that would also give privacy to the house from the neighboring residences.Save this picture!© Daniela Mac AddenThe swimming pool was set as the client requested: incorporated into the terrace of the house. It was configured as a rectangular plate with 3 cantilever sides hiding its depth to expose a floating mirror, both in the exterior view of the house and in from the inside. Standing from the top of the terrace, the water mirror reflects creating a living sky portrait.We managed to come up with a compact volume with a sober shell inside of which the different heights, natural light effects, and envelopes of each room would produce very diverse spatial conditions. We aimed at designing a cozy house through means of simple lines and artifice free spaces that would establish a close dialog with their natural surroundings.Save this picture!© Daniela Mac AddenProject gallerySee allShow lessStudio Precht Imagines a Park for Physical Distancing During the Coronavirus PandemicArchitecture NewsNew Film by Spirit of Space Showcases The REACH at the Kennedy Center for the Perfor…Architecture News Share Architects: Luciano Kruk Area Area of this architecture project ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/937806/escobar-house-luciano-kruk Clipboard “COPY” Escobar House / Luciano KrukSave this projectSaveEscobar House / Luciano Kruk CopyAbout this officeLuciano KrukOffice•••ProductsWoodConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesInterior DesignResidential InteriorsHouse InteriorsBelén de EscobarOn InstagramOn FacebookArgentinaPublished on April 17, 2020Cite: “Escobar House / Luciano Kruk” [Casa Escobar / Luciano Kruk] 17 Apr 2020. ArchDaily. Accessed 10 Jun 2021.
One-day general strikes were held by thousands of members of PAME, the Greek trade union confederation close to the Greek Communist Party (KKE), and members of ADEDY, the union confederation of civil service workers, on Aug. 13. They gathered in Athens’ Syntagma Square, in front of the Parliament building, to call for a “no” (“OXI”) vote on an austerity plan being proposed by the Syriza government.The PAME march had begun separately, in Omonia Square, while ADEDY members gathered in Syntagma Square. Video clips show that once PAME got to Syntagma, there was effectively one demonstration.Workers interviewed by British Broadcasting (BBC), Reuters, Russian television (RTFB) and the French news agency (AFP) all called on Syriza to honor the pledge it had made to end austerity, which was what got it elected.In its call for the demonstration, PAME said: “There is no time to lose! No resignation, frustration and acceptance of the attacks from the government, the European Union, employers. We respond by organizing struggles in every workplace, every business, every neighborhood. We strengthen PAME, class trade unions, popular committees.” (Red Globe, Aug. 11)Nevertheless, the austerity proposal still passed by a margin of 222 votes in favor to 64 against, with 11 abstentions. But the government of Alexis Tsipras lost so many votes from his own party — more than 40 Syriza members of Parliament voted against the proposal — that under Greek law, he has to call for a vote of confidence and probably new elections.Even though the vote was lopsided, there was still a lot of opposition inside Parliament. MPs pointed out that they only had a day or so to go through the 400-page document, which forced them to rely on summaries.Panagiotis Lafazanis, former minister of energy, and 12 other MPs announced they would form a coalition against this new memorandum. Lafazanis, who leads a group called the Left Platform inside Syriza, had begun his political career in the KKE. He left it in 1992 to join a eurocommunist organization called Synaspismos.Zoe Konstantopoulou, speaker of the Greek Parliament and a leader of Syriza, refused to call it an “agreement.” In a speech to Parliament on July 22, during the first debate over accepting this proposal, she had said: “Those conditions are blatant blackmail by foreign governments of European Union member states on this government and on the members of Parliament.”German imperialism is the leader in Europe of this anti-Greek, anti-human plan. Its finance minister, Wolfgang Schäuble, was also architect of the plan that destroyed the East German economy after the fall of the Berlin Wall. (Workers World, July 18) The austerity plan Schäuble wants to impose on the Greek economy — according to many economists, including those working for the International Monetary Fund — will drive Greece’s debt-to-gross-domestic-product ratio to over 200 percent; that is, Greece will owe twice what its economy produces in a year.The IMF has gone further. It has taken the position that Greece’s debt is unsustainable, which means that under its rules the IMF cannot participate in this bailout.Greece is a country in deep distress. Its workers and poor are suffering from an economy that has been in a deep depression for five years, while its bankers are looking forward to an infusion of billions of euros from this latest bailout. But both in Parliament and on the streets, resistance is rising.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare this
Twitter arbitrarily blocks South African newsweekly and several reporters over Covid vaccine story November 27, 2020 Find out more September 23, 2010 – Updated on January 20, 2016 Authorities urged to drop two projects that threaten media freedom News RSF_en As the leaders of the ruling African National Congress meet this week in the eastern city of Durban, Reporters Without Borders urges the South African government to abandon two projects, one to create a media tribunal and one to pass a bill protecting information involving “national security.”The press freedom organisation offers South Africa’s media and civil society its full support in their efforts to combat these two retrograde projects.“We are amazed that the ANC keeps on coming up with this kind of measure which, if implemented, would represent a dramatic step backwards,” Reporters Without Borders said. “We hope that President Jacob Zuma and all the government will understand the reservations expressed by the media and press freedom groups in recent weeks and will abandon these projects. Not only the independence of South Africa’s journalists but also the country’s image and its role as the engine for all of Africa are at stake.”The ANC plans to create a media tribunal whose members would be appointed by the government and would have the power to punish breaches of journalistic ethics. If created, the tribunal would usurp the existing system of self-regulation. Led by President Zuma, officials insist that their intention is to protect the public against media abuses. But in the hands of the authorities and the ANC, such a tribunal would jeopardise the media independence that is guaranteed by the 1994 constitution.The South African parliament is examining a protection of information bill that would classify information that could endanger national security and make publication of such information punishable by up to 25 years in prison. The possibility that journalists could be jailed because of their work, the length of the sentences they could face and the failure to clearly define what is meant by “national security” are all reasons for great concern.The proposed law could end up making investigative journalism impossible or even illegal. Reporters Without Borders fears that journalists would no longer be able to investigate sensitive stories, such as corruption scandals, for fear of being jailed.The debate about media freedom in South Africa, which is eliciting heated comments both domestically and abroad, comes at a time of great mistrust between the authorities and the media. When ANC Youth League leader Julius Malema expelled BBC correspondent Jonah Fisher from a news conference on 8 April, he called him a “bastard” and “bloody agent”. Watch the video .President Zuma’s relations with the media are fraught, especially with those that criticise the way he governs, cover his private life and investigate such sensitive issues as corruption and crime. The times have changed and South Africa has moved on since 1994, but the attitude of the ANC’s current leaders towards the press is disturbing when one recalls the role the party once played in defending fundamental freedoms.With its bold and diverse media, South Africa has until now been a model of media freedom in Africa. Ranked 33rd out of 175 countries in the 2009 Reporters Without Borders press freedom index, it was one of the three African countries that showed most respect for the work of journalists. The ANC’s two projects could change that. February 4, 2021 Find out more Follow the news on South Africa Help by sharing this information News South AfricaAfrica Receive email alerts to go further South AfricaAfrica News The 2020 pandemic has challenged press freedom in Africa Reports Organisation On eve of the G20 Riyadh summit, RSF calls for public support to secure the release of jailed journalists in Saudi Arabia November 19, 2020 Find out more
Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Community News A new community support group is beginning for persons with Fibromyalgia and/or Arthritis. The group will meet monthly at La Canada Presbyterian Church for personal and social support, and education in lifestyle management of these difficult medical issues.The support group will be led by Dianne Whiting, MA, PT and Katie Phillips-Rector, MS, MFT Intern. Dianne has extensive experience as a physical therapist working with people with Fibromyalgia and Arthritis and is Program Director for the Fibromyalgia Management Program at Casa Colina Hospital in Pomona. She has been leading a Fibromyalgia support group at Casa Colina for the past 20 years. Katie is a Marriage and Family Therapist Intern who works with individuals and families facing a variety of chronic pain and health conditions. She also lives with Rheumatoid Arthritis and Fibromyalgia herself, and is passionate about helping others finding strength and encouragement while living these medical issues.The support group will meet at La Canada Presbyterian Church on the fourth Wednesday of every month, from 1:00-2:15 p.m. in the Library. There is no fee or sign-up for this program and all are welcome to join us. Please email Katie ([email protected]) or Dianne ([email protected]) if you have any questions.La Canada Presbyterian Church, 626 Foothill Blvd, La Cañada Flintridge, (818) 790-6708 or visit www.lacanadapc.org. EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Your email address will not be published. Required fields are marked * Community News 13 recommended0 commentsShareShareTweetSharePin it Name (required) Mail (required) (not be published) Website Faith & Religion News La Canada Presbyterian Church Presents Fibromyalgia/Arthritis Support Group From STAFF REPORTS Published on Wednesday, May 3, 2017 | 5:56 pm Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Make a comment HerbeautyGained Back All The Weight You Lost?HerbeautyHerbeautyHerbeautyNutritional Strategies To Ease AnxietyHerbeautyHerbeautyHerbeautyThis Trend Looks Kind Of Cool!HerbeautyHerbeautyHerbeautyIs It Bad To Give Your Boyfriend An Ultimatum?HerbeautyHerbeautyHerbeautyThese Are 15 Great Style Tips From Asian WomenHerbeautyHerbeautyHerbeautyAmazing Sparks Of On-Screen Chemistry From The 90-sHerbeautyHerbeauty faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyCitizen Service CenterPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes First Heatwave Expected Next Week Business News Subscribe Top of the News Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena More Cool Stuff
How Mortgage Default Rates Are Trending Print This Post Tagged with: default The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Subscribe December 17, 2019 2,781 Views Previous: Low-End Rentals Propping Up Investment Growth Next: Wells Fargo Commits $10M to Philadelphia Home / Daily Dose / How Mortgage Default Rates Are Trending in Daily Dose, Featured, Market Studies, News The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Seth Welborn Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago default 2019-12-17 Seth Welborn The Week Ahead: Nearing the Forbearance Exit 2 days ago While first mortgage default stayed the same overall in November 2019, the most recent S&P/Experian Consumer Credit Default Indices revealed that default increased year over year, from 0.64% in November 2018 to 0.77% in November 2019.Four of the five major metropolitan statistical areas showed higher default rates compared to the previous month. Miami showed the largest increase, up 22 basis points to 1.53%. The default rate for Los Angeles rose 12 basis points to 0.77%, while the rate for New York climbed seven basis points to 1.14%. The level for Dallas rose four basis points to 1.01%, while the rate for Chicago was three basis points lower at 1.14%.The composite default rate, composed of first mortgage, bank card, and auto loan defaults, rose one basis point in November 2019 from 0.93% to 0.94%, and up year over year from 0.83%.The previous release from S&P/Experian Consumer Credit Default Indices saw default rates rise for first time mortgages rose for the third month in a row.Despite October’s rise in mortgage defaults, the indices shows that the composite rate was unchanged at 0.93%, as other forms of credit fell that month. The bank card default rate fell 44 basis points to 2.88%. The auto loan default rate was down two basis points to 1.03%, and the first mortgage default rate increased four basis points to 0.77%.In an effort to further reduce future defaults on FHA-insured mortgages, the Federal Housing Administration (FHA) has signaled that it may tighten credit, noting that the debt-to-income (DTI) ratio for FHA-insured loans has been consistently increasing for six years. In a new report, Urban Institute examined how important DTI ratios in predicting a borrower’s ability to make on-time mortgage payments, and how debt burden impacts ability to repay FHA mortgages.According to Urban, DTI ratios are much less significant predictors of loan performance than FICO scores and that many high-DTI loans have strong FICO scores. Additionally, Urban’s analysis found that higher-DTI loans do not always have higher serious delinquency rates, and 5.6% of loans with DTI ratios ranging from 0 to 35% have been seriously delinquent at 60 months of age, compared with 7.6% of loans with DTI ratios of 35–45. But for loans with DTI ratios greater than 50, the D90+ rate at 60 months is 6.9%, lower than those with DTI ratios of 35–45. Data Provider Black Knight to Acquire Top of Mind 2 days ago
News UpdatesNCLT Kochi Allows Promoter Of Corporate Debtor MSME To File Resolution Plan In Individual Capacity Lydia Suzanne Thomas7 May 2021 12:15 AMShare This – xInsolvency and Bankruptcy CodeThe National Company Law Tribunal at Kochi has held that the promoter of an MSME can submit a Resolution Plan Application in his individual capacity, and that the Plan would be eligible to be considered along with those of other prospective Resolution applicants. Judicial Member Ashok Kumar Borah of the NCLT Bench at Kochi recently made this pronouncement on an application made by the promoter of a corporate debtor. Facts Prayag Polytech Private Limited, Operational Creditor, sought the initiation of Corporate Insolvency Resolution Process against the Corporate Debtor Propyl Packaging Limited in February last year. K Satheesh Babu Rajesh, a promoter in Propyl Packaging, however, wished to restart Propyl’s business operations and sought to submit a Resolution Plan. However, the eligibility criterion for an individual to submit Expression of Interest (EoI) prescribed a Minimum ‘Tangible Net Worth of INR 10 Crores’. Citing this reason, the Resolution Professional rejected his EoI in January 2021. Submissions Rajesh’s Counsel Advocate Shivshankar R. Panicker relied on a Gazette Notification dated June 26, 2020 to argue that a Corporate Debtor would now come within the purview of an MSME. He went on to point out that Rajesh was eligible to apply as a Prospective Resolution Applicant under Section 240A of IBC since he was not a wilful defaulter. The lawyer buttressed his submissions by relying on Saravana Global Holdings Ltd. v. Bafna Pharmaceuticals Limited and others, where it was stated that it is not necessary for the promoters to compete with other Resolution Applicants to regain the control of the Corporate Debtor. On the other hand, the lawyer for the Corporate Resolution Professional, Advocate Vinod P.V. iterated that Rajesh’s EoI did not meet the eligibility criteria, since he did not prove his net worth with a certificate. Moreover, he stated, the eligibility criterion for the presentation of a Resolution Plan was approved by the Committee of Creditors in a meeting held in September 2020. Despite an opportunity being given to rectify the defect, this was not corrected, with Rajesh instead requesting a waiver on the eligibility criteria. This request was subsequently rejected by the Committee of Creditors in January this year, Advocate Vinod averred. As far as the Circular went, the Resolution Professional was willing to act according to the direction of the NCLT, the lawyer informed the Tribunal. He stressed, however, that the new MSME Circular that Rajesh relied upon was issued after the admission of the CIRP application, even though Propyl would qualify as an MSME in terms of the Circular. What the NCLT held Ruling that the Corporate Debtor could be registered as an MSME in terms of Saravana and the Circular, the Kochi Bench directed the Resolution Professional to consider the Resolution Plan if the promoter submitted a “viable and feasible” Resolution Plan that “maximises the value of assets of the Corporate Debtor in a way that prevents liquidation”. The Tribunal referred the Saravana decision where it was emphasised, “The intention of the legislature shows that the Promoters of ‘MSME’ should be encouraged to pay back the amount with the satisfaction of the ‘Committee of Creditors’ to regain the control of the ‘Corporate Debtor’ and entrepreneurship by filing ‘Resolution Plan’ which is viable, feasible and fulfils other criteria as laid down by the ‘Insolvency and Bankruptcy Board of India’.” However, the Tribunal agreed with the Resolution Professional that a Corporate Debtor could not submit a resolution as per the IBBI regulations, at which the promoter agreed to submit the Resolution in his individual capacity. Therefore, the Tribunal directed that – Rajesh submit an EoI/Resolution Plan in his individual capacity within two weeks from the date of the NCLT’s order,If Rajesh did so, the Resolution Professional was to register the Corporate Debtor as an MSME, provided he produces the certificate of Registration as an MSME under the “Udhayam Registration” of the Ministry of Micro Small and Medium Enterprises.After considering the Expression of Interest of the applicant, the Reesolution Professional was to publish a list of Prospective Resolution Applicants, without further delay CASE: K Satheesh Babu Rajesh v George Varkey COUNSEL: Advocate Shivshankar R Panicker for Rajesh, Advocate Vinod PV for Varkey.Click here to download the orderTagsInsolvency Resolution Insolvency Code Corporate Insolvency Resolution Process (CIRP) NCLT Kochi Insolvency and Bankruptcy Code Ashok Kumar Borah Next Story