TD Bank to buy Banknorth Group

first_imgTD Bank Financial Group to Become Majority Shareholder of Banknorth Group, Inc. Strategic acquisition provides TD with personal and commercial banking growth opportunity in the US Banknorth gains partner to expand its community-based banking model PORTLAND, Maine–Aug. 26, 2004–Banknorth Group, Inc. (NYSE: BNK) and TDBank Financial Group (TDBFG) today announced that they have signed adefinitive agreement for TDBFG to acquire 51% of the outstanding shares ofBanknorth for approximately US$3.8 billion (approximately CDN$5 billion)in cash and TD common shares. This acquisition will provide TD with themajority interest in a growth company that has a proven track record ofmaking strategic acquisitions. “This strategic acquisition provides us with an expanding beachhead inthe Northeastern United States and an outstanding personal and commercialbanking complement to our strong U.S. wealth management franchise,” saidEd Clark, TD Bank Financial Group President and Chief Executive Officer.”The addition of Banknorth to our brand provides us with immediatelyaccretive earnings and a majority interest in a company that has anexcellent management team focused on growing their business bothorganically and through smart and profitable acquisitions.” “Having TDBFG as our majority shareholder offers us the depth tocontinue with our strategy of acquiring high potential banks in strategiclocations and positions us to move to the next level in terms of size andproduct capability,” said William J. Ryan, Banknorth’s Chairman, Presidentand Chief Executive Officer. “Both TD and Banknorth are leaders inemploying a customer-focused approach to their markets and bring proventrack records of successfully integrating acquisitions. I firmly believethat working with TD will be a positive experience for our shareholders,our customers and our employees.” Acquisition Details The agreement between TDBFG and Banknorth provides for the merger ofBanknorth with a TD subsidiary in which each Banknorth shareholder willreceive a package of US$12.24 in cash, 0.2351 of a TD common share and0.49 shares of the new Banknorth stock, which will continue to be listedon the New York Stock Exchange. TD will be permitted to buy additionalBanknorth shares up to a limit of 66 2/3% either in the open market or inspecific circumstances directly from Banknorth, such as if Banknorth werelooking to raise capital. The transaction will be taxable for Banknorth shareholders for U.S.federal income tax purposes with respect to the cash and TD shares theyreceive. The new Banknorth shares will be tax free. The agreement also permits TD to bid for the remaining publicly heldshares in subsequent years, subject to certain limitations in the firsttwo years, approval by a majority of designated independent directors andunaffiliated Banknorth shareholders during the first five years andapproval by a majority of designated independent directors or unaffiliatedBanknorth shareholders after five years. The deal, which is subject toapproval by Banknorth’s shareholders and by U.S. and Canadian regulatoryauthorities, is expected to close in February, 2005 and be immediatelyaccretive to TD’s earnings, without reliance on synergies. “We have structured the deal this way to allow the maximum degree offlexibility for both TD and Banknorth. TD gains an important personal andcommercial footprint in the U.S. while maintaining our strong capitalratios,” said Clark. “From our perspective, we are gaining access to capital and additionalflexibility to allow us to continue to participate in largeracquisitions,” added Ryan. Bill Ryan will remain Chairman, President and CEO of Banknorth and willjoin TD’s Board of Directors upon the conclusion of the deal. He willcontinue to be based at Banknorth’s headquarters in Portland, Maine.Banknorth’s experienced management team was an integral component of thedeal and will remain intact. To maintain the Banknorth board’s effective working size, but at thesame time reflect the interests of the majority shareholder, TD willinitially be adding up to five members to the board in addition to thecurrent 14 Banknorth directors, all of whom are expected to remain on theboard following the closing. A majority of both the full board and thedirectors appointed by TD will be required for any motion put before theBoard to reflect TDBFG’s majority shareholder position. TD will have theright to elect a majority of board members generally as long as it remainsa majority shareholder. Maintaining Community Roots “Banknorth has a long standing reputation of being committed to thecommunities in which it operates and we intend to continue with that sameapproach,” said Ryan. “We are pleased that our two organizations have thesame focus on meeting the needs of our customers in the local markets weserve. We think that there is a good cultural fit between the two banks,”added Clark. TD Bank Financial Group and Banknorth will hold an analyst conferencecall and meeting today, August 26th, 2004 at 8:45 a.m. ET to discuss thedetails of the transaction. The call will feature a presentation by EdClark, President and CEO of TD Bank Financial Group and Bill Ryan,Chairman, President and CEO of Banknorth. A question and answer period forpre-qualified analysts and investors will follow the formal presentation.The call will be webcast live via TD’s website at www.td.com/investor(link is external) aswell as the investor relations section of Banknorth’s website atwww.banknorth.com(link is external). Pre-qualified analysts and investors may access thecall by calling 416-640-1907 or toll free at 1-800-814-4860. Media mayalso access the call at those numbers, but in listen-only mode. Recordingsof the presentation will be archived on TD’s website www.td.com(link is external) followingthe webcast and will be available for replay for a period of at least onemonth. The replay of the webcast will also be accessible from the investorrelations section of Banknorth’s website at www.banknorth.com(link is external). Banknorth Key Facts & Figures A New England-based company recognized by Forbes magazine as the bestmanaged bank in America, Banknorth offers personal and commercial banking,insurance, investment planning and wealth management services. Theoperations of Banknorth include: — 389 branches and 548 Automated Teller Machines (ATMs) in 6 states — 1.3 million households served — US $29.3 billion in assets, as of June 30, 2004 — US $19.3 billion in deposits, as of June 30, 2004 Banknorth is first in combined market share in Maine, New Hampshire andVermont, and 5th in Massachusetts and 6th in Connecticut. About TD Bank Financial Group The Toronto-Dominion Bank and its subsidiaries are collectively known asTD Bank Financial Group. In Canada and around the world, TD Bank FinancialGroup serves more than 13 million customers in three key businesses:personal and commercial banking including TD Canada Trust; wealthmanagement including the global operations of TD Waterhouse; and wholesalebanking, including TD Securities, operating in a number of locations inkey financial centres around the globe. TD Bank Financial Group also ranksamong the world’s leading on-line financial services firms, with more than4.5 million on-line customers. TD Bank Financial Group had CDN$312 billionin assets, as of April 30, 2004. The Toronto-Dominion Bank trades on theToronto and New York Stock Exchanges under the symbol “TD”. About Banknorth At June 30, 2004, Banknorth Group, Inc. headquartered in Portland, Maineand one of the 30 largest publicly-traded commercial banks in the country,had $29.3 billion in assets. Banknorth’s banking subsidiary, Banknorth,N.A., operates banking divisions in Connecticut (Banknorth Connecticut);Maine (Peoples Heritage Bank); Massachusetts (Banknorth Massachusetts);New Hampshire (Bank of New Hampshire); New York (Evergreen Bank); andVermont (Banknorth Vermont). The Company and Banknorth, N.A. also operatesubsidiaries and divisions in insurance, money management, merchantservices, mortgage banking, government banking and other financialservices and offer investment products in association with PrimeVestFinancial Services, Inc. The Company’s website is at www.banknorth.com(link is external). This press release contains “forward-looking statements” within themeaning of the Private Securities Litigation Reform Act of 1995. Suchstatements include, but are not limited to, statements relating toanticipated financial and operating results, the companies’ plans,objectives, expectations and intentions and other statements includingwords such as “anticipate,” “believe,” “plan,” “estimate,” “expect,””intend,” “will,” “should,” “may,” “and other similar expression. Suchstatements are based upon the current beliefs and expectations of TD BankFinancial Group’s and Banknorth Group, Inc.’s management and involve anumber of significant risks and uncertainties. Actual results may differmaterially from the results anticipated in these forward-lookingstatements. The following factors, among others, could cause or contributeto such materially differences: change in general economic conditions; theperformance of financial markets and interest rates; the ability to obtaingovernmental approvals of the transaction on the proposed terms andschedule; the failure of Banknorth Group, Inc.’s shareholders to approvethe transaction; disruption from the transaction making it more difficultto maintain relationships with clients, employees or suppliers; increasedcompetition and its effect on pricing, spending, third-party relationshipsand revenues; the risk of new and changing regulation in the U.S. andCanada; acts of terrorism; and war or political instability. Additionalfactors that could cause TD Bank Financial Group’s and Banknorth Group,Inc.’s results to differ materially from those described in theforward-looking statements can be found in the 2003 Annual Report on Form40-F for TD Bank Financial Group and the 2003 Annual Report on Form 10-Kof Banknorth Group, Inc. filed with the Securities and Exchange Commissionand available at the Securities and Exchange Commission’s Internet site(http://www.sec.gov(link is external) ). This communication is being made in respect of the proposed mergertransactions involving the acquisition by TD Bank Financial Group of 51%of the outstanding common stock of Banknorth Group, Inc. In connectionwith the proposed transactions, a combined registration statement on FormF-4 and S-4 containing a proxy statement/prospectus will be filed with theSecurities and Exchange Commission. Shareholders of Banknorth Group, Inc.are urged to read the proxy statement/prospectus regarding the proposedtransaction when it becomes available, because it will contain importantinformation. Shareholders will be able to obtain a free copy of the proxystatement/prospectus, as well as other filings containing informationabout TD Bank Financial Group and Banknorth Group, Inc., without charge,at the Securities and Exchange Commission’s Internet site(http://www.sec.gov(link is external) ). Copies of the proxystatement/prospectus and the filings with the Securities and ExchangeCommission that will be incorporated by reference in the proxystatement/prospectus can also be obtained, without charge, by directing arequest to TD Bank Financial Group 66 Wellington Street West, Toronto, ONM5K 1A2,Attention: Investor Relations 416-982-5075 or to Banknorth Group, Inc.,Attention: Investor Relations 207-761-8517. TD Bank Financial Group, Banknorth Group, Inc. and their respectivedirectors and executive officers and other persons may be deemed to beparticipants in the solicitation of proxies in respect of the proposedtransaction. Information regarding TD Bank Financial Group’s directors andexecutive officers is available in its Annual Report on Form 40-F for theyear ended October 31, 2003, which was filed with the Securities andExchange Commission on December 15, 2003, and its notice of annual meetingand proxy circular for its 2004 annual meeting, which was filed with theSecurities and Exchange Commission on February 17, 2004, and informationregarding Banknorth Group, Inc.’s directors and executive officers isavailable in Banknorth’s proxy statement, which was filed with theSecurities and Exchange Commission on March 17, 2004. Other informationregarding the participants in the proxy solicitation and a description oftheir direct and indirect interests, by security holdings or otherwise,will be contained in the proxy statement/prospectus and other relevantmaterials to be filed with the Securities and Exchange Commission whenthey become available.last_img read more

PJM: Ohio’s nuclear and coal subsidy bill likely to cost more than forecast

first_img FacebookTwitterLinkedInEmailPrint分享Energy News Network:A bill to subsidize FirstEnergy Solutions’ two Ohio nuclear plants could cost customers even more than the hundreds of millions of dollars in direct charges proposed to prop up those plus two older coal plants.A new analysis from grid operator PJM concludes that keeping FirstEnergy’s nuclear plants open could also cost ratepayers as much as $16 million a year in lost savings by discouraging cheaper gas generation from coming online.House Bill 6 passed in the Ohio House of Representatives by a vote of 53-43 on May 29. Under the current version, all retail consumers in the state would pay 50 cents per month for the first year and then $1 per month for the next six years to subsidize FirstEnergy Solutions’ Perry and Davis-Besse nuclear power plants. FirstEnergy Solutions and other FirstEnergy generation subsidiaries are currently in bankruptcy. The bill would also subsidize 1950s-era coal plants and gut Ohio’s clean energy standards.PJM’s analysis contradicts an earlier statement by FirstEnergy Solutions Vice President David Griffing, who claimed that closing the nuclear plants would cost Ohioans an average of $35 per year between 2022 and 2029. Ohio Consumers’ Counsel Bruce Weston responded by asking PJM for a fact check on the projected effects on wholesale and retail electric prices if the two Ohio nuclear plants close.Yet the PJM analysis may still underestimate costs to consumers. “While useful, the analysis looks only at the energy market, which is an important shortcoming,” said Dan Sawmiller, Ohio energy policy director at the Natural Resources Defense Council. PJM’s report said that it didn’t consider impacts on longer-term capacity markets because of time constraints.Ohio Public Utilities Commission Chair Sam Randazzo also testified Wednesday before the Ohio Senate committee. By his estimate, the annual out-of-pocket costs to ratepayers are slightly more than a third of a billion dollars. Before his appointment to the commission this year, Randazzo had long represented Industrial Energy Users-Ohio, which has consistently opposed the state’s clean energy standards.More: Costs of FirstEnergy nuclear bailout bill could exceed out-of-pocket subsidies PJM: Ohio’s nuclear and coal subsidy bill likely to cost more than forecastlast_img read more

Facility Solutions: Integrating physical and digital delivery

first_imgJust a few years ago, Brett King, author of Banking 2.0 and Banking 3.0, and I appeared to be in two very different camps. His was: “Branches are dead.” Mine was: “Not so fast, Mr. King.”This played out in a number of online exchanges on LinkedIn group sites. King has gone on to great success on the technology side, but the vast majority of financial institutions are still trying to find the perfect balance of technology and human touch, of hitting target member preferences and economic possibility.The search for the perfect delivery solution is certainly good for our business. It helps credit unions integrate the right technologies and drives a strong unique brand experience. We know that in addition to a strong branch network optimization plan, a great location, and a powerful branch business model and branded experience, staff’s ability to deliver on the brand promise is critical. The only way staff can deliver is by living in both the physical and technological worlds.Reflective of this, over the past few years we have seen new employee titles. Teller and MSR have become universal associate; branch operations manager has changed to member experience manager; and, most recently, greeter or concierge is now referred to as digital ambassador. continue reading » 3SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Northbrook strikes big in Belfast

first_imgWould you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletters To access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.last_img

On the trail: Biden warns against ‘bloodbath’ fight with Sanders as next contests loom

first_imgTopics : Biden warns against primary ‘bloodbath’After Sanders, a self-described democratic socialist, ramped up his attacks on Biden on Friday, Biden told a crowd at a fundraiser in Bethesda, Maryland, he was worried his battle with Sanders for the Democratic nomination could turn ugly.“What we can’t let happen is let this primary become a negative bloodbath. We can’t tear this party apart and re-elect Trump. We have to keep our eyes on the ball,” Biden said as he telephoned in to the Bethesda event.Sanders, a US senator from Vermont, had assailed Biden’s record on trade, Social Security, gay rights and abortion on Friday – although he did promise to support the former vice president if he becomes the nominee. The race has become a two-man contest between Biden and Sanders. Tulsi Gabbard, a Hawaii congresswoman, is the only other Democratic candidate still in the nominating contest, but has virtually no chance of winning.Biden and Sanders will face off on Tuesday in Idaho, Mississippi, Missouri, Washington state, North Dakota and Michigan. A big win for Biden in delegate-rich Michigan would deliver a major blow to Sanders’ hopes of becoming the nominee.Showing continued momentum following his Super Tuesday wins, Biden’s campaign said on Friday it had raised about $22 million in five days.Biden wins dozens of endorsements in Missouri The moderate wing of the Democratic Party has been rapidly coalescing around Biden to stop a Sanders nomination, since Biden’s big win in South Carolina on Feb. 29. On Saturday morning the Biden campaign announced another slew of endorsements from Democratic lawmakers in Missouri – over 60.Missouri is one of six states to vote on Tuesday, where Biden was due to hold two events on Saturday. Jay Nixon, the state’s former Democratic governor, swung his support behind Biden, leading a well-choreographed army of Missouri officials – 68 in all – to come out in support. They included current and former state politicians, judges, council members and aldermen.Biden was due to campaign on Saturday in St. Louis and Kansas City, Missouri, where he is scheduled to be joined by US Representative Emanuel Cleaver of Missouri, a former Congressional Black Caucus chairman who endorsed Biden in September.Sanders focuses on MichiganOn Saturday, Sanders begins a weekend of campaigning in the crucial battleground state of Michigan, which offers 125 of the 1,991 delegates needed to win the nomination.Sanders, who won the Michigan primary in 2016 when he ran unsuccessfully for the nomination against Hillary Clinton, will hold a rally in the Detroit suburb of Dearborn, and a town hall focused on racial and economic justice in Flint. On Sunday he is set to visit Grand Rapids and Ann Arbor.Speaking to a crowd of more than 6,000 in downtown Detroit on Friday, Sanders continued to assail Biden for voting for the war in Iraq and trade deals, including the North American Free Trade Agreement, which he said had cost millions of American jobs in Michigan and other battleground states.”Now, if we are going to defeat Trump in Michigan, Pennsylvania and Wisconsin, it will be very hard for a candidate who voted for these disastrous trade deals,” Sanders said.Sanders questioned whether Biden could generate enough energy and enthusiasm to prevail against Trump. But he also called Biden a friend, and said both were in agreement that they would support the other against Trump should the other win the nomination.center_img US Democratic presidential candidates Joe Biden and Bernie Sanders will campaign in the Midwest on Saturday, as the two prepare for a showdown in Michigan, Missouri and four other nominating contests next week.Sanders, 78, who until recently was the front-runner in the party’s race to face Republican President Donald Trump in November, is now trailing in delegates and desperate to regain momentum after Biden, 77, received a rush of endorsements from party establishment figures following his strong “Super Tuesday” showing this week.Below is what is happening on Saturday:last_img read more

Sr. Gloria Gallagher O.S.F

first_imgSr. Gloria Gallagher, age 94 of the Srs. of St. Francis in Oldenburg, died Monday, January 7, 2019 at the convent.  Born November 12, 1924 in Cincinnati, Ohio, she is the daughter of Elizabeth (Nee: Phillips) and Edward Gallagher.Sr. Gloria attended St. Clare School and Our Lady of Angels High School in Cincinnati where she met the Franciscan Sisters and began to pursue her music career.  She accepted a scholarship to Marian University in Indianapolis, pursuing a degree in chemistry with a minor in music.  By the end of her sophomore year, she reversed her major and music soon became her life.She earned an A.B. in music and chemistry from Marian, a B.M. from the College of Music in Cincinnati and an M.M. from the Conservatory of Music at the University of Cincinnati.  Her career spanned 63 years teaching at Our Lady of Angels Academy and Fenwick High School in Ohio, Oldenburg Academy and Marian University in Indiana as well as serving as the organist and liturgist at the convent for 20 years.In 2000 she celebrated her golden jubilee.  Much to her surprise, over 160 former Oldenburg Academy students secretly met for over year to plan and present a “Mr. Holland’s Opus” type of concert in her honor.  As she entered the auditorium, she froze in amazement as she discovered it was filled with former students, family and friends gathered in her honor.  A two hour concert followed, featuring many of her favorite instrumental and choral selections.  It culminated with Sr. Gloria being invited to conduct the finale, Handel’s Hallelujah Chorus.Earlier in Sr. Gloria’s career she wrote “The Blessing of St. Clare” which continues to be sung by the Sisters when extending their blessing to others in song.  When Congregational Minister Sr. Christa announced Sr. Gloria’s death, she noted, “As Sr. Gloria sang many times the “Blessing of St. Clare”, may God pour forth all graces on her abundantly and in heaven may God place her among the saints.”Visitation is Thursday, January 10th, from 1 -3 p.m. at the convent chapel.  Funeral services follow at 3 p.m. with Rev. Bob Weakley O.F.M., officiating and burial will follow in the convent cemetery.  Memorials may be made to the Srs. of St. Francis, P.O. Box 100, Oldenburg, Indiana, 47036 (www.OldenburgFranciscans.org). Weigel Funeral Home is in charge of arrangements (www.weigelfh.com for online condolences).last_img read more

Tennis Mustangs’ win streak halted; Lakers go 3-0

first_imgTwo games from defeat, Megan Mitchell and Morgan Walsh pulled it out over Abbie Austin and Allison Soulier 5-7, 7-5, 6-4. Sophia Shaw and Maddie Vetsch had a chance at the clinching point, but could not hold on in a 3-6, 6-4, 10-3 defeat to the Bears’ Leah Demauro and Jessica Hallock.Skaneateles rolled past Pulaski 7-0 last Tuesday, with the Lakers’ singles trio of Kenna Ellis, Isabella Kroon and Lily Miller allowing just one game in six combined sets. Only once in four doubles matches did Skaneateles surrender a game, and even there Sofia Capozza and Sophia Soderberg won, 6-2, 6-3, over Isabella Pierce and Cara Reynolds.A day later, the Lakers topped Homer 6-1, with Ellis working past Sienna Haskins 6-3, 6-1 as Kroon blanked Lydia Sujkowski 6-0, 6-0 and Emma Miller taking her turn in singles, winning 6-0, 6-0 over Brynne Peck. Tags: girls tennisJ-EMarcellusskaneatelesWest Genesee In between rainouts of all of the matches last Monday and Thursday, another busy and exciting week for area high school girls tennis teams unfolded, with the regular season about to conclude.Marcellus carried an eight-match win streak into last Monday’s match at Chittenango, only to struggle in singles and not make up for it in doubles during a 4-3 loss to the Bears.Swept by Chittenango in singles, the Mustangs needed all four doubles points. Kathleen DeMarle and Elaina Mahoney won, 6-2, 7-5, over Riley Ellis and Sarah Lanphear, with Bella Clarke and Isabella Demeis rallying past Brianna Crystal and Keelin Davie 4-6, 6-1, 6-2. Share this:FacebookTwitterLinkedInRedditComment on this Story Ella Danforth and Emma Miller paired up to beat Ellis Han and Marlena Kruman 7-6, 6-1, with Rachel Hackler and Kelsey Rutledge beating Emily Barber and Charlotte Wallis 6-1, 6-2. Meg Benedict and Olivia Walker topped Natalie Brown and Abby McLaughlin in straight sets 6-1, 6-3.Back in action on Friday afternoon, Skaneateles faced Jordan-Elbridge and won again, topping the Eagles 5-2.In singles, Kroon shut out Wendy Carter 6-0, 6-0, with Lily Miller rolling past Maria LaFleur 6-1, 6-1, which made up for J-E getting on the board when Anisa Bort rallied and, in a third-set tie-breaker, beat Ellis 2-6, 6-4, 7-6.The Eagles also won in doubles when Katelyn Precourt and Gabrielle Skotinski beat Benedict and Walker 7-6, 6-3, but Skaneateles earned the other three points as the teams of Hackler-Rutledge, Capozza-Soderberg and Danforth-Emma Miller lost just four games in six sets.Earlier in the week, J-E took a 5-2 defeat to the other Lakers from Cazenovia, with Bort getting a singles point for the Eagles 7-5, 7-5 over the Lakers’ Nova Berger. In doubles, Precourt and Skotinski won, 6-2, 6-4, over Regan Dauenhauer and Emma Thornton.West Genesee, in its latest attempt to upend Fayetteville-Manlius, lost 6-1 to the Hornets last Tuesday afternoon, the lone point coming in doubles, where Angelina Llanos and Katie Viau routed Samhitha Adivikolanu and Angela Iskander 6-0, 6-1.Angelina Allen was the lone Wildcats singles player to earn games in a 6-0, 6-4 defeat to Trisha Adivikolanu. In the other doubles matches, Kara Chawgo and Isabelle Wells held up well in a 6-2, 6-4 loss to Maya McKenzie and Camilla Wojtasiewicz.Back in action on Friday, WG beat Central Square 4-3 entirely with its doubles teams, with Llanos-Viau and Wells-Madelyn Chuff each getting 6-0, 6-0 shutouts and the teams of Alyssa Congel-Margaret Mello and Chawgo-Aislinn Dow dropping just two games apiece.last_img read more

Michigan Democrat: Hydroxychloroquine Saved My Life, Thanks President Trump

first_img“Congratulations to State Representative Karen Whitsett of Michigan,” he wrote. “So glad you are getting better!”Trump has repeatedly highlighted the drug’s ability to fight COVID-19, especially when combined with the antibiotic azithromycin. But health professionals have argued it is unproven and carries multiple risks. They also say Trump’s promotion of the drug could lead to a shortage of the medication of those who normally use it for other illnesses. A Michigan state lawmaker infected with COVID-19 is crediting the controversial anti-malarial drug hydroxychloroquine with saving her life. She proclaims she felt better within a few hours of taking her prescription which was difficult to obtain.Democratic State Rep. Karen Whitsett of Detroit told FOX News’ “The Ingraham Angle” Monday that she went into home quarantine on March 12, the day she last attended a session at the State House in Lansing, and her condition only got worse from there.“It took the longest [time] for me to actually be able to get an appointment and getting with my doctor, which was the 18th of March, and then actually getting the COVID test,” Whitsett said on the program.She initially thought she’d contracted a bout of pneumonia and was prescribed the anti-viral drug amoxicillin.But then on March 31, she tested positive for COVID-19. By then, she said, her condition had “just plummeted”.“It went from the headaches being severe to fluid building up in my lungs, to sweats breaking out to the cough and my breathing being labored,” Whitsett said. “It all happened in a matter of hours.”At the hospital, Whitsett learned that the Michigan Department of Licensing and Regulatory Affairs, under Democratic Gov. Gretchen Whitmer, had issued a state order prohibiting the use of hydroxychloroquine. Though that order was retracted several days later, at the time, Whitsett struggled to get her hands on the medication.“I did have a difficult time, even that day, obtaining the medication because of an order that was put down in my state,” she said on the program. “And it was on that day so you can imagine how terrified I was that I had to beg and plead and go through a whole lot to try to get the medication.”Whitsett suffers from chronic Lyme disease — for which hydroxychloroquine is also used as a treatment — but she said she had never thought of it as a potential coronavirus treatment until President Donald Trump touted the drug.see alsoThese are the drugs being tested in fight against coronavirus“If President Trump had not talked about this it wouldn’t have been something that would be accessible for anyone to be able to get right now,” the lawmaker said.“It has a lot to do with the president … bringing it up,” the freshman lawmaker told The Detroit Free Press. “He is the only person who has the power to make it a priority.”Trump tweeted the Free Press’ story Monday.last_img read more

Blood Service joins Football Fridays

first_img17 March 2010The South African National Blood Service (SANBS) has thrown its weight behind Football Fridays as the campaign to unite South Africans behind the national 2010 Fifa World Cup™ effort intensifies.SANBS chief executive Loyiso Mpuntsha and SANBS executive management members joined staff at SANBS KwaZulu-Natal’s Donor Services offices on 5 March to launch Football Fridays at the SANBS.Click arrow to play slideshow.Then click bottom right button for fullscreen (ESC to exit).To view captions in fullscreen, click “show info”.Football Fridays News Desklast_img read more

NFU says Congressional tax plans jeopardize the farm safety net

first_imgShare Facebook Twitter Google + LinkedIn Pinterest Amidst the steepest drop in farm profitability in a generation, U.S. Congressional leadership is proposing tax reform legislation that would jeopardize all funding for farm bill commodity safety net programs.The two tax bills being considered in both the U.S. Senate and the U.S. House of Representatives would add $1.5 trillion to the federal deficit. According to new Congressional Budget Office analysis of the bills, that $1.5 trillion deficit increase would need to be offset by eliminating all funding for vital farm programs such as Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC), among other mandatory federal spending programs.“If Congress passes legislation that increases the deficit, they will subsequently be forced to cut federal spending. In the case of the tax bill, current law could require 100% sequestration of all commodity program payments and other farm bill programs,” said National Farmers Union President Roger Johnson. “Tax cuts for the highest income brackets should absolutely not come at the expense of programs that protect our nation’s family farmers and ranchers.”The House and Senate budget resolution that was passed earlier this year paves the way for tax cuts that would increase the U.S. federal deficit by $1.5 trillion over ten years. Statutory pay-as-you-go (PAYGO) rules require that increases in deficit spending be offset by reduced spending across non-exempt mandatory programs. The government would be required to cut such programs by $150 billion per year in accordance with PAYGO.The total available pool of funding across all non-exempt mandatory programs amounts to, in CBO’s estimation, “only between $85 billion to $90 billion,” meaning that all impacted mandatory spending programs other than Medicare, including the Commodity Credit Corporation (CCC), would be entirely stripped of funding.The CCC is the second largest non-exempt mandatory program, after Medicare. It funds dairy and other farm program payments, including ARC and PLC, both of which are critical for keeping family farmers and ranchers in business during times of economic uncertainty. Discretionary spending and a number of mandatory programs, including Social Security, the Supplemental Nutrition Assistance Program (SNAP), federal crop insurance, and the Conservation Reserve Program (CRP), are exempt from PAYGO.“Farmers Union has long opposed using budget sequestration to reduce the federal deficit, especially through cuts to agricultural programs,” Johnson said. “This proposal asks farmers and ranchers to trade any possible tax benefits for the elimination of farm safety net payments, like ARC and PLC. That would be a disastrous trade. NFU continues to advocate for a simplified, progressive tax code that does not risk programs vital to the livelihoods and well-being of American family farmers and ranchers.”last_img read more