The House legal affairs committee said Wednesday it would continue discussion of a controversial fan identity card after the summer recess because it was impossible to go through the provisions of a bill by Friday, parliament’s last plenum.The committee has been discussing a proposal by ruling Disy that seeks to amend provisions on the fan card to appease organised football supporters who boycotted fixtures during the last season.MPs were told by the justice minister that the card was necessary to tackle violence and that law-abiding supporters had nothing to fear.Giorgos Savvides assured football clubs and supporters in general that law-abiding people had nothing to fear and urged fan clubs to tell their members to issue a card, whose purpose was to fight hooliganism.Admission to any sports venue as of last August is granted only to those possessing the card. Since its introduction, there has been hardly any trouble.MPs also discussed safety and security in the stadiums with most failing to meet the requirements, which are also necessary in the enforcement of the fan card provisions.Around 72,000 people have been issued a fan card.It was opposed by the fan clubs of all major football teams, citing concerns that police would use the data to keep tabs on them.You May LikeCalifornia Earthquake AuthorityEarthquake insurance that fits your future plansCalifornia Earthquake AuthorityUndoPopularEverythingColorado Mom Adopted Two Children, Months Later She Learned Who They Really ArePopularEverythingUndoLivestlyChip And Joanna’s $18M Mansion Is Perfect, But It’s The Backyard Everyone Is Talking AboutLivestlyUndo Varosha move merely a ‘PR stunt’ by Ozersay, expert saysUndoArgaka mukhtar stops conservationists againUndoAuthorities release five of 12 Israeli rape suspects, seven due in court FridayUndoby Taboolaby Taboola
Share640Tweet7ShareEmail647 Sharesmichael kooiman [CC BY 2.0], via Wikimedia CommonsJanuary 29, 2019; CBS News“Millions of middle-class Americans are just one missed paycheck away from poverty,” reports Aimee Picchi for CBS News. Picchi adds that four in ten are considered “liquid-asset poor,” which is defined as lacking “enough savings to make ends meet at the poverty level for three months.”For a family of four to live at a poverty-line income for three months would cost $6,275. Again, four in ten households have cash savings that fall below this amount. For Latinx and Black households, these numbers are higher, as 62.5 percent of Latinx households and 62.7 percent of Black households have cash savings that fall below this level.Of course, a family living a middle-class lifestyle can’t shift gears overnight—rent and car payments, for example, don’t disappear just because you don’t get a paycheck. So even if your family had $6,000-plus in the bank, it would be unlikely to last three months.These findings, Picchi explains, come from a study, titled Vulnerability in the Face of Economic Uncertainty, authored by Kasey Wiedrich and David Newville, released last week from the nonprofit economic advocacy group Prosperity Now. For years, Prosperity Now (once called “CFED,” or the Corporation for Enterprise Development) has released its annual “Prosperity Now Scorecards.” But this year’s report, released just days after a record 35-day federal shutdown ended, is getting more attention, as the economic fragility of so many who consider themselves “middle class” came plainly into view.As Wiedrich tells Picchi, the shutdown illustrated key points made in the report: “These federal jobs are well paying, they are stable, they give benefits,” Wiedrich observes. “But if you lose that paycheck for a couple weeks, people aren’t able to pay their bills.”Additional findings from the report include the following:An estimated 13.2 percent of households fell behind on their bills in the past year. For Latinx households, that number increases to 16.9 percent and, for Black households, 24.3 percent.Households that include a person with a disability find keeping up with bills especially difficult. In 2018, 28.4 percent of such households fell behind on bill payments.An estimated 19.6 percent of Americans lack credit access, including 31.2 percent of Latinx households and 35.9 percent of Black households.An estimated 10.9 percent of whites and 17.2 percent of Blacks decided to skip at least one doctor’s visit due to cost.Almost half (48.1 percent) of US households have credit scores that fall outside the “prime” category (leading to higher interest charges).The report also offers a snapshot of other economic trends. For example, median student loan debt continues to rise, reaching $18,366 in 2018, with 15.2 percent of borrowers currently with delinquent status. The rate of children with health insurance, which had fallen since the Affordable Care Act was passed, climbed in 2018 from 6.1 percent to 6.9 percent.A companion report, authored by Solana Rice, Lebaron Sims, Jr., Holden Weisman, and Emma Polson, titled Accounting for Race: A New Way to Compare the Financial Health of Households in States, breaks income insecurity data down to the state level. Some of the trends are not unexpected—many of the states with the greatest economic insecurity are in the South, while many northern states do better. But states do not always follow these regional patterns. For instance, Pennsylvania falls in the lowest category (highest economic insecurity), while Virginia ranks among the top tier of states. The report also finds that racial disparities are lowest in Maryland, but highest in Minnesota. Overall, the five states with the least economic insecurity are (in rank order) Vermont, Hawai’i, New Hampshire, Washington, and Utah. On the other side of the ledger, Louisiana has the highest economic insecurity and is followed in rank order by South Carolina, Mississippi, Alabama, and Washington, DC.The chart below illustrates what the differences mean in people’s lives.VermontLouisiana Households that fall behind on bills10.6%17.7%Adults forgoing doctor visits due to costs8.8%17.1%Student loan delinquency rate9.7%19.7%Underemployment rate6.1%9.1%Can policy help? Both reports offer suggestions. Wiedrich and Newville recommend boosting financial security through safety net programs, increasing consumer protections, supporting affordable homeownership, changing the tax code to encourage savings by low-income households, and providing government-funded universal child savings accounts at birth.States, note Rice and her coauthors, can pass (as 29 states and DC have done) state earned income tax credit laws and remove asset caps that counterproductively kick residents who save off of benefit programs. Broader suggestions are listed in a Prosperity Now report from last fall and its companion
European satellite operator Eutelsat has agreed to by 100% of Satélites Mexicanos (Satmex) for US$1.142 billion (€861 million) as it looks to up its presence in the Latin American market.Eutelsat said that the deal, together with the recently ordered Eutelsat 65 West A satellite, will position the firm “as a major satellite operator in Latin America,” and reflects its strategy to expand in high growth markets.“With Satmex’s strategic orbital slots, state of the art fleet and upcoming satellites, Eutelsat is gaining a robust platform from which to access the significant opportunities in this region,” said Eutelsat CEO Michel de Rosen.Satmex is based in Mexico and operates three satellites – Satmex 6 at 113.0° west, Satmex 5 at 114.9° west and Satmex 8 at 116.8° west that cover 90% of the population of the Americas. It has frequency rights in C and Ku-bands and was granted Ka-band rights in 2012 and currently has has an 11% market share in Latin America, according to Eutelsat.Eutelsat agreed to buy Satmex for US$831 million and take on its US$311 million net debt, giving the deal an enterprise value of US$1.14 billion. Eutelsat said the agreement will benefit its top-line growth. Satmex’s fixed service satellite business generated revenues of US$111.8 million and adjusted EBITDA of US$89.1 million last year.“Our fleet will provide Eutelsat with a unique strategic opportunity to enter the fast-growing Latin American market and obtain premier orbital locations across the continent. Our clients will benefit from the integration of our network into Eutelsat’s world-class satellite fleet and operations,” said Satmex CEO, Patricio Northland.The news comes a day after Eutelsat reported revenue for the year ending 30 June of €1.284 billion, up 5.1% year-on-year. EBITDA came in at €995.3 million, up 4% year-on-year.“Our industry is continuing to grow, albeit at a lesser pace than in the past decade. Several markets are still developing at a high pace – notably Russia, Central Asia and Africa, where we already enjoy strong positions, and Asia Pacific and Latin America, where we are actively developing our footprint,” said de Rosen.The Satmex deal is expected to close by the end of the year, subject to government and regulatory approvals.
Sky Deutschland said it is on track to deliver positive full-year EBITDA for the first time, after announcing strong third quarter figures. The German pay TV provider reported a 19% year-on-year revenue increase in the quarter to €392.7 million.It said subscription revenues were the key driver, supported by higher subscriber numbers, as well as a €1.85 increase in average revenue per user to €34.07.EBITDA was positive at €29.2 million, while it narrowed its net loss from €16.5 million in Q3 last year to €14.2 million this year.The firm reported record Q3 viewership with 11.5 million unique viewers and logged 76,000 new subscribers. However, this was below Reuters’ estimates of 81,500 new subscribers.“Sky’s outstanding entertainment offering is accessible to more customers than ever before, serving as a great platform for further growth,” said Sky Deutschland CEO, Brian Sullivan.Among the highlights of the quarter, Sullivan mentioned the Sky’s “greatly enhanced Bundesliga offering,” an expanded HD channel line-up, the introduction of its Sky Sport News HD App, and more exclusive content for its Sky Anytime and Sky Go services.Overall, the firm said it had 3.53 million customers at the end of September, up from 3.21 million at the same time last year. Of these, 1.75 million were signed up to Sky’s Premium HD offering. The firm also logged 18.1 million Sky Go customer sessions in the quarter, an increase of 122% year-on-year.“Our innovations are transforming the viewing experience for our customers by giving them greater choice, flexibility and control. And in today’s mixed economic environment our financial performance puts us right on track to deliver Sky’s first ever positive full year EBITDA result,” said Sullivan.
Liberty Global-owned satellite TV unit UPC DTH is adding new services to its freeSAT service in the Czech Republic and Slovakia, UPC Direct in Hungary and Focus Sat in Romania.The DTH unit is adding five channels to the Czech, Slovak and Hungarian services and six to the Romanian service.New channels to join from March 10 include educational channel Da Vinci Learning, crime and investigation channel Investigation Discovery, lifestyle channel Fashion TV, martial arts channel BlackBelt TV, motorsport channel Auto Motor Sport and – in Romania only – Asian entertainment channel Bollywood TV.UPC DTH is also adding the Music Choice music streaming service to freeSAT and UPC Direct. The service will be available to basic package customers with a Humax HD set-top or DVR. Music Choice offers a choice of 10 genre-specific channels.“We are pleased to further enrich our packages in all our markets through the addition of these channels. We regularly ask our customers what type of content would enhance their viewing experience. Based on the feedback received we are confident the additions of these channels and the new music service will be well received. This change further enhances our already rich packages, giving UPC DTH customers everywhere more choice without additional cost or compromise,” said UPC DTH managing director Michael Lee.
Italian free-to-view satellite platform TivùSat has added Cairo Communication-owned channel La7d to its programming line-up.The channel, aimed at a younger female audience, airs a mix of programming including Grey’s Anatomy and Wife Swap.Turin-based Cairo Communication’s general news and entertainment channel La7 is already available on TivùSat.
Liberty Global-owned cable operator UPC Austria is to extend its Wi-Free public WiFi offering to its entire network following what it said was a successful pilot project in Graz.Wi-Free, based on the partitioning of UPC subscribers’ private WiFi clouds, gives users access to thousands of hotspots across the country, with downstream speeds of up to 10Mbps and upstream speeds of up to 2Mbps. UPC Austria will make the service available across Austria from October 19.UPC Wi-Free is already available in other Liberty Global networks including those in the Netherlands, Romania, Poland, the Czech Republic and Ireland.
Apple CEO, Tim CookApple CEO Tim Cook said that its new, revamped Apple TV had a “huge first day” after it starting taking orders for the device at the start of the week.Speaking on Apple’s fiscal fourth quarter earnings call, Cook said that the company would bring its Apple Music service to the new Apple TV device beginning this week and that the new iPad Pro would begin shipping next month.“We want to provide the same innovation in the living room that we delivered in our iOS devices. People are already watching more TV through apps today and we think apps represent the future of TV,” said Cook.The Apple boss said that fiscal 2015 was Apple’s “most successful year ever, with revenue growing 28% to nearly US$234 billion.” This, he said, was a result of Apple making the “best, most innovative products on earth”.For the quarter ended September 26, 2015, the company posted quarterly revenue of US$51.5 billion and quarterly net profit of US$11.1 billion.Apple unveiled its next generation Apple TV device in September and starts to ship the device this week. The new box will run on the new tvOS operating system, based on Apple’s iOS, allowing iOS developers to create new apps and games specifically for Apple TV.Other new features include a new touch-surface remote control with built-in Siri voice commands, which lets users search for TV shows and movies across multiple content providers by title, genre, cast, crew, rating or popularity.
Altice has selected Arris’ E6000 Converged Edge Router (CER) to deliver of gigabit internet services to subscribers in France, the Dominican Republic and the US.Altice said it will deploy the Arris E6000 CER with SFR in France, Orange-Tricom in the Dominican Republic, and will expand the E6000 CER footprint in its recently acquired US property, Suddenlink Communications.“Working with Arris assures us from both a technological and operational perspective as the Arris E6000 CER is a proven, global platform with a clear roadmap for the future,” said Altice CTO, Max Blumberg.Bruce McClelland, president of network and cloud, global services at Arris added: “Altice is fast-becoming a major player in the global pay TV market, and it’s an exciting time for Arris to be collaborating with operators from the Altice Group around the world.”“These deployments further cement the Arris E6000 CER as the leading CCAP solution for operators who want the best technology to meet the crucial demand for higher broadband speeds as more and more devices become connected in the home.”
Netflix remains “the benchmark for its rivals” despite its poor second quarter financial results, according to analysts.Paolo Pescatore at CCS Insight said this was the case and that the streaming giant traditionally struggles in Q2 because of seasonal trends. He added that he expected “the outlook to remain challenging owing to competition, the 2016 Olympic Games and further prices rises”.However, Pescatore added: “We should not forget that Netflix is still the first truly global pay TV service – quite an accolade within a short period of time. This latest quarter may be a slight falter for Netflix, but it still sets the benchmark for its rivals.”Overall, Netflix currently has 83.1 million subscribers, well ahead of the likes of Hulu and Amazon Prime in the US. It is also distributed far wider than those services, after its surprise 130-territory launch in January propelled it into a total of 188 overall.A Juniper Research whitepaper, however, has suggested Netflix’s rivals may ultimately benefit from the streaming leader’s recent price increases, which came after the international expansion.As evidence, Juniper referenced this week’s financial results, which saw it add 800,000 fewer subs than predicted and led to a share price nosedive.“Whilst Netflix has expanded its coverage globally, the test will be whether it can meet its original content production costs, as well as provide quality content to consumers,” said research author Lauren Foye.“It is believed that US rival Hulu is now close to offering the same amount of content as Netflix, and others are pushing new models such as Amazon’s monthly subscriptions to Prime video, and YouTube Red subscriptions for exclusive content.”Analysis from IHS Technology’s senior analyst, Jonathan Broughton, claimed that Netflix’s “Q1-2 subscriber growth was always going to be bad as many ‘grandfather’ customers [were] faced with price hikes after enjoying many years of cheap streaming”.Broughton noted Netflix’s new pricing structures will bring all subscribers in line with the US – US$7.99 per-month for SD access, US$9.99 for HD, and US$11.99 for Ultra HD – with rival services.“Netflix falling short of expectations for new subscribers is indicative of the changing nature of the video streaming landscape,” claimed Haydn Jones, account managing director within IT solutions business Fujitsu’s media team.“Consumers not only demand content when and where they want it, but also, as a group that is increasingly characterised by fee fatigue, they don’t want to pay for it – or if they do, they want a minimal fee, so increasing prices was never going to go down well.”“It is no longer enough to simply employ digital technologies and services, organisations such as Netflix simply must embrace the digital economy or risk being left behind by providers that meet the two-pronged desire for on-demand and free content.”Mike Goodman, director of digital media strategies at analyst Strategy Analytics, meanwhile, predicted the international market would provide the Los Gatos-based streaming service with its greatest challenge.“Netflix’s share has declined, and will continue to do so, as the SVOD market becomes saturated with competition, both domestically and internationally – there are over 20 SVOD services operating in North America and Western Europe.“The international market is Netflix’ biggest concern around profitability. In Q1, the average US subscriber delivered a US$9 profit, however, internationally, the average subscriber is costing nearly US$3.50 more to acquire than the revenue they generate. Netflix will have to establish a tremendous slate of high quality global content before it can get overseas viewers to pay more for its content.”Netflix’s share price was US$85.84 at press time, down 13% on the pre-result price, and from nearly US$100 on July 18.
TV technology company Amino has launched Fusion Home Monitor, a new Internet of Things home monitoring product designed for network operators.The compact camera will be part of Amino’s Fusion platform, a hosted service that is designed to enable operators to provide smart home applications to their customers.Fusion Home Monitor is integrated with Amino’s Engage service assurance platform, providing operators with tools to manage activation, setup and service assignment. The product is available as a white label service. The offering includes the self-installable Wi-Fi camera and companion operator-branded mobile and web applications, as well as potentially revenue-generating options for cloud video storage.For TV operators, Amino has integrated Fusion Home Monitor into the TV viewing experience to enable features such as on-screen notifications, picture-in-picture and pan control.Amino says that the product works across DSL, fibre, DOCSIS and cellular networks.“The number one request among our hundreds of customers is to bring them solutions for growing their broadband business, especially for premium services where their high ARPU customers reside,” said Steve McKay, VP of worldwide sales at Amino.“The beauty of Fusion is its simplicity, especially compared to past generations of connected home services that involved truck rolls and houses full of proprietary sensors. Fusion Home Monitor is a single device delivered in the mail, allowing consumers to be up and running with a new billable service in five minutes.”
Stéphane Richard at Show HelloOrange is to ‘virtualise’ its set-top box, removing the TV decoder from its dual-box Livebox device completely within the next five years.Interviewed by O1netTV at Orange’s Show Hello event in Paris, Stéphane Richard, CEO of Orange, said the virtualisation was a “revolution in the architecture of the system”.He said Orange currently used the Livebox to fulfill two functions – connectivity and distribution and storage of TV and media content. He said Orange planned to use the box only to provide connectivity with other functionality placed in the network. The box will disappear into the cloud. He said Orange would double its data centre capability to handle the change.“The next box of Orange will be a non-box,” he said, adding that TV services would be delivered from the cloud. The company will begin the process of virtualising the box next year, said Richard. He said that the change will be managed progressively, but added that in “three to five years” there will be no second box in Orange homes.Orange said that it planned to transfer services and functionalities from the box to remote servers in the network, enabling users to access them and manage them from wherever they are.The company said that virtualisation will eliminate material constraints, allowing data, technical resources and services to be shared from one Livebox to another through a secure Orange connection.Orange plans to move DVR functionality to the cloud in France from next year, following a pilot in Romania and a launch in Poland later this year.Orange deployed the latest – and ultimate – version of its Livebox decoder in May last year. The set-top part of the dual-box device is Ultra HD-capable and includes a 1TB hard drive.In his interview, Richard said that investment in content was becoming more important for telecom operators. He deflected a question about the company’s relationship with Canal+, saying only that Orange’s relationship with the pay TV operator was “very pragmatic”. He said consumers wanted freedom to purchase pay TV services from multiple sources, and that he did not believe in exclusive distribution of pay TV services on specific platforms.Ricahrd rejected the idea that Orange should adopt a strategy of producing its own exclusive content, focusing instead on acting as a distributor. However, he said that the renewal of Orange’s contract with HBO on an exclusive basis was evidence of the strength of OCS.In addition to virtualisation of the Livebox, Orange used Show Hello to announce a new voice-enabled assistant, Djingo, that can be used to stream programmes or launch or control other devices in the home. Djingo is available via the remote control of Orange’s most recent TV box, and comes with its own speaker that can be controlled by voice or text.Orange is also branching out into new areas including banking, launching Orange Bank, a mobile phone banking service that will be available for the general public in France from June.Richard said that competition was intensifying in France but prices were declining, and that is necessary to diversify. He said Orange had a target that the banking offer should attract two million customers in 10 years.Also in his interview with 01netTV, Richard also said he did not believe the four-operator environment in France would change soon, following the failure to secure the acquisition of Bouygues Telecom.
Discovery and the PGA TOUR are due to launch GOLFTV, a new live and on-demand video streaming service, globally outside the US on January 1, 2019.The service will supersede PGA TOUR LIVE across global markets, with the new branded service to offer a wide range of golf content – including 2,000 hours of live action each year.“Our long-term goal is to create a must-have experience that truly enhances the way global fans watch, play and engage with the game every day. Unveiling the new GOLFTV brand is an exciting next step in our journey,” said Alex Kaplan, president and general manager, Discovery Golf.News of the GOLFTV launch comes after Discovery struck a 12-year deal with the PGA Tour in June to create a new multi-platform home for golf that includes global TV and multi-platform rights outside the US to all PGA Tour properties.Discovery said at the time that it will create a new PGA Tour-branded OTT video streaming service to attract international golf fans across all screens in 220 markets and territories, with the partnership between the pair to kick off in 2019 and carry through to 2030.Live PGA Tour coverage will become available via GOLFTV in line with the market-by-market rights activation dates. In 2019 live coverage will be available in Australia, Canada, Italy, Japan, Netherlands, Portugal, Russia, Spain; in 2020 the live rights will extend to Poland and South Korea; in 2021 to Belgium, China, Germany, South Africa; in 2022 to Denmark, Finland, India, Norway, Sweden, and the UK; and finally in 2024 to France.“Building on Discovery’s heritage of real-life storytelling and direct-to-consumer platform experience, we’ve already established a world-class GOLFTV team,” said Kaplan. “With work well underway, our carefully considered plans will allow us to continually enhance GOLFTV as we roll-out and further develop the product.”
French commercial broadcaster TF1’s CEO Gilles Pélisson remains “optimistic” about the prospects for Salto, the subscription video-on-demand service JV between TF1, fellow commercial player M6 and public broadcaster France Télévisions, despite delays in getting the project off the ground.Speaking at the Series Mania event in Lille yesterday, Pélisson said that the partners in the venture were convinced they could “create something that will be attractive for the public”.Salto has been bedevilled by regulatory delays (see separate story) since the project was announced last year. Pélisson said that the project was still had to be examined French competition watchdog, the Autorité de la Concurrence, but said that the technical platform for the service was in place, thanks in part to the work of M6 within the RTL Group.He said that it was also challenging to get a project involving three competitive groups up and running.“It’s complex to have three actors in competition…cooperate,” he said.Despite the delays, Pélisson said that “we have not lost too much time” and said he was confident that the service up quickly because a lot of the preparatory technical work had been done already.Despite its commitment to Salto, TF1 is not abjuring cooperation with Netflix. The commercial broadcaster this week struck a deal with the streaming giant to pre-finance a major period drama project, Le Bazar de la Charité, a co-production between TF1 and Quad Télévision.The financing agreement for the fin du siècle-set 8 x 52 minute series, written by Catherine Ramberg and Karine Spreuzkouski, directed by Alexandre Laurent and starring Audrey Fleurot, Julie De Bona and Camille Lou, will give Netflix exclusive SVOD rights for four years, including in France eight days after the airing of the final episode on TF1, and internationally the day after the first episode airs.Pélisson said that the pair were “taking the risk together…and sharing in the success” of such a project and said that such deals were positive if the terms were transparent.
The cable industry has begun a multi-year migration toward a common platform for video and data. While CCAP defines a particular architecture, there are numerous ways to reach that converged endpoint. Drawing from the real-life experience that service providers have had to date, this paper recognizes the diversity and ongoing evolution of the headend and existing cable infrastructures; focusing on three paths to full CCAP.
ShareTweet 101DUNMORE GARDENSPOLICE APPEAL OVER BID TO STEAL CAR IN DERRYPSNI POLICE in Derry are appealing for information about an attempted car theft.A spokesperson said officers want witnesses who spotted anyone trying to steal a red Corsa in Dunmore Gardens on the Tuesday night, October 18.“Please ring 101 ref 375 19/10/16 with details,” added the spokesperson.. POLICE APPEAL OVER BID TO STEAL CAR IN DERRY was last modified: October 20th, 2016 by John2John2 Tags:
POLICE say an 18 year old local man has been arrested on suspicion of murder following the death of a teenager in the William Street area of Derry in the early hours of this morning.He is currently in custody at Strand Road PSNI Station. The man who died has been named as 19-year-old ordan McConomy from the Rossnagalliagh area of the city. Detective Chief Inspector Geoff Boyce of the PSNI Serious Crime Branch is appealing for witnesses to the incident to contact police.He said: “We know that many people were socialising in William Street early this morning and we would like to hear from members of the public who witnessed an altercation in the area between approximately 1:45am and a 2:15am to get in touch with detectives at Strand Road on telephone number 101, quoting reference number 228 of 24/9/17. “Police would particularly like to hear from motorists who were either parked on or travelling along William Street during these times and who had a dash cam fitted to their vehicle.“Alternatively, information can also be given anonymously through the independent charity Crimestoppers on 0800 555 111.” DCI GEOFF BOYCEDerryMAN ARRESTED IN DERRY OVER MURDER OF TEENAGER JORDAN MCCONOMYrossnagalliagh MAN ARRESTED IN DERRY OVER MURDER OF TEENAGER JORDAN MCCONOMY was last modified: September 24th, 2017 by John2John2 Tags: ShareTweet
Home NewsWatch National News Pitcher Roy Halladay dies in Gulf of Mexico plane crash Pinterest National NewsNewsWatchSportsSports NewsTop Stories Pitcher Roy Halladay dies in Gulf of Mexico plane crash By Tyler BarkerNov 07, 2017, 16:35 pm 554 0 Google+ Tumblr Mail HOLIDAY, Fla. (AP) – Authorities have confirmed that former Major League Baseball pitcher Roy Halladay died in a small plane crash in the Gulf of Mexico off the coast of Florida.Pasco County Sheriff Chris Nocco said during a news conference that Halladay’s ICON A5 went down about noon Tuesday near Holiday, Florida.The sheriff’s office marine unit responded to the downed plane and found Halladay’s body. No survivors were found.They said they couldn’t confirm if there were additional passengers on the plane or say where it was headed.Halladay retired in 2013 after 12 seasons with the Toronto Blue Jays followed by four seasons with the Philadelphia Phillies. Linkedin Tyler Barker Tyler Barker is currently the Interim News Director and Digital Content Manager for WOAY-TV. I was promoted to this job in Mid-November. I still will fill in on weather from time to time. Follow me on Facebook and Twitter @wxtylerb. Have any news tips or weather questions? Email me at firstname.lastname@example.org Facebook Previous PostTrump sent aide to McDonald’s when the WH chef couldn’t get his burger right Twitter Next PostWVU Tech celebrates “First Generation” students; The first in their families to go to college
By Dan Steinhart, Casey ResearchUS corporations are sitting on more cash than at any point since World War 2.That’s without including banks. I’m only talking about nonfinancial corporations – the ones that sell goods and services and make the economy go.Those businesses hold $1.4 trillion. In absolute terms, that’s the most ever. In relative terms, it’s the most since World War II.(Click on image to enlarge)As investors, we can infer quite a bit from corporations’ inability (or unwillingness) to deploy their cash.For one, it indicates that business have assumed a very defensive stance.Cash, of course, is a buffer against uncertainty – the uncertainty that business slows for any reason. Management wants a healthy cash reserve with which to pay the bills and remain liquid should anything unexpected happen. I think we can all agree that this is prudent, and a good business practice.But $1.4 trillion? That tells me that businesses are not just a little jittery about the future. They’re prepared for an apocalypse.Think about this, it’s important;If these businesses could conjure up even the most marginal of projects to earn a meager 1% return, they would generate $14 billion profit. Instead, they’re sitting on the cash and earning near zero for a guaranteed after-inflation loss.It’s a bad omen that corporate management would forego a collective $14b per year. Clearly, by their judgment, the risk of investing in new projects outweighs the reward – the exact opposite of the conditions needed to produce healthy economic growth.That’s the bad news. But here’s the good, if paradoxical, news: Even with all of this corporate slack, earnings and profit margins are very healthy, and stocks have performed quite well. Case in point, the S&P 500 is up 15% YTD.Why the disconnect? Well, the rising margins and earnings are easy to explain: corporations have cut costs over the past few years, becoming leaner and more efficient. This also partially explains higher stock prices.But I think there’s another contributing factor to rising stock prices: the downright terrible outlook for bonds. Our analysis of stocks vs. bonds indicates that stocks are by far the better investment today.“The overriding reason is simple: at near zero interest rates, bonds offer almost no upside and catastrophic downside” Simply by virtue of not being bonds, stocks have done well.Back to that pile of corporate cash. There’s no question that it’s a waste today. But today’s waste is tomorrow’s potential. Corporations aren’t going to sit on that cash forever. Eventually conditions will be such that they’ll either want to or have to invest in new projects.Perhaps inflation will be the catalyst – corporations can tolerate losing 1.7% per year today. But if the inflation rate heats up to, say, 4%, you can bet that corps will be scrambling to deploy that now idle cash into whatever mediocre projects they can rustle up.“When that happens, they have $1.4 trillion in cash ready to go. No need to negotiate a loan. No need to issue equity to raise funds. They have all the fuel they need. The gas tank is full.So while the economy has plenty of problems, and stocks are a far better bet than bonds, lack of cash is not one of them.Companies are ready to invest and grow. They just need an economic and political environment conducive to doing so.
The obvious market interventions throughout the entire trading week-to-date should be noted As is pretty much always the case, gold didn’t do much in Far East or early London trading yesterday. Then, just before noon GMT, the gold price popped a bit…and then got sold down an equal amount shortly after the Comex open. The gold price rallied again shortly after 9:00 a.m. in New York…and that rally ran into the usual group of not-for-profit sellers the moment it stuck its nose above the $1,600 spot price mark. From there gold got sold down until around 10:45 a.m. Eastern time, which was fifteen minutes before the London gold market closed for the day…and from that point, the gold price traded virtually flat into the 5:15 p.m. electronic close. The New York high and low price ticks were $1,600.90 spot…and $1,584.90 spot. Gold finished the Wednesday trading session at $1,587.70 spot…down five bucks even on the day. Net volume was virtually unchanged from Tuesday, checking in around the 118,000 contract mark. The dollar index opened in the Far East at 82.58…and then fell to its low of the day [82.33] just minutes before 9:00 a.m. in London. Then away it went to the upside, hitting its zenith [83.02] right at the London p.m. gold fix at 3:00 p.m. GMT…10:00 a.m. Eastern time in New York. From there it slid a bit into the close…finishing the Wednesday trading session at 82.92…up 34 basis point. Once again, there was no correlation between the currency move and the precious metals price action yesterday. It was more or less the same price action in silver…and their respective charts look virtually identical…with the only significant difference being a quick price spike down to silver’s low of the day…and that came late in the New York lunch hour. The 9:20 a.m. high tick was $29.41 spot…and the low price tick was at 12:50 p.m. Eastern. That was recorded by Kitco at $28.78 spot. But once it was all done for the day, the silver price was closed back below the $29 spot price once again at $28.92 spot. Volume was average…around 38,000 contracts, which was about 10,000 contracts more than on Tuesday. (Click on image to enlarge) The CME’s Daily Delivery Report showed that 382 gold and 37 silver contracts were posted for delivery on Friday. JPMorgan Chase were the short/issuers on all 382 contracts…and Canada’s Bank of Nova Scotia, along with Barclays, were the only two long/stoppers. In silver, it was ABN Amro and Jefferies on the issue side…and ‘all the usual suspects’ as stoppers. The link to yesterday’s Issuers and Stoppers Report is here. There were no reported changes in either GLD or SLV yesterday. As of the close of business on March 12th over at Switzerland’s Zürcher Kantonalbank, they reported that their gold ETF declined by 36,785 troy ounces…but their silver ETF went in the other direction, rising by 69,060 troy ounces. There was a smallish sales report from the U.S. Mint once again. They sold 5,000 ounces of gold eagles…and 1,000 one-ounce 24K gold buffaloes. Over at the Comex-approved depositories on Tuesday, they didn’t receive any silver…and shipped only 140,669 troy ounces of the stuff out the door. The link to that activity is here. Here’s Nick Laird’s chart showing Chinese Gold Imports Through Hong Kong for the month of January…and I have a story about that futher down in the ‘Critical Reads’ section. Canon 7D…125mm…1 second…f5.6…ISO 1250. Enough time and enough speed with the available light to show some of the comet’s tail…plus enough ‘earth shine’ to clearly show the old moon in the new moon’s arms. Photo courtesy of spaceweather.com I have a lot of stories today, so I hope you can find the time to read the ones that are of the most interest to you…and there are quite a few must reads as well. I would buy Gold in JPY and go to sleep…sell JPY, buy Gold, go to sleep…and wake up ten years later and you’ll be fine. Don’t put all your money in it, but that is the single best investment you can make today. – Kyle Bass…March 2013…when asked which one investment he would make for the next ten years. Well, there’s not too much to say about yesterday’s price action that I haven’t already addressed in my comments at the top of this column. It should be obvious that JPMorgan et al are keeping the closing price of gold below $1,600…and silver below $29…but for what reason, I haven’t a clue. They’re not going to stay here forever, of course, but the obvious market interventions throughout the entire trading week-to-date should be noted. Also of note is what happened during the thinly-traded Far East market during their Thursday, as all four metals got smacked for no reason that I could discern…and all in different ways…and at slightly