Odds & Ends: Bombshell’s Smash-ing Kickstarter Total & More

first_img Star Files Here’s a quick roundup of stories you may have missed today.Bombshell’s Smash-ing Kickstarter TotalLess than 24 hours after the announcement of a Kickstarter campaign to fund the one-night-only Actors Fund benefit concert of Bombshell on Broadway on June 8, more than $200,000 has been raised, four times the figure asked for. Although Craig Zadan, who executive produced the first season of Smash has said that “there’s been no plan to create a show out of this,” with these huge numbers, there’s definitely a demand for the drama, the laughter, the tears just like pearls to have a longer run on the Great White Way!Alan Cumming to Emcee Homeland LovefestAlan Cumming will host (something he’s Tony-winningly good at) the upcoming Performance Space 122 Spring Gala, which will honor Claire Danes. The
 April 20 event is set to include appearances and remarks by Tony winner and Danes’ Homeland co-star Mandy Patinkin. And how’s this for adorable? Danes made her performance debut in 1985 with PS122 at the age of six! Aw.Expand Your Theatrical ConversationAlthough many of the spring theatrical affairs are benefits so can be on the pricey side, there are some free events. Broadway alums Bill Army, Stephanie Janssen, Jennifer Van Dyck and more will take part in the Potomac Theatre Project’s inaugural Living Room reading series on March 22 and March 23 in New York—you won’t need to pay, but you will need to reserve.Glee’s Lea Michele & Darren Criss’ TearsLea Michele, Darren Criss, Chris Colfer, Jenna Ushkowitz and Chord Overstreet recently stopped by The Ellen Show to talk about their final days on set of the last season of Glee. There were lots of tears, which soon-to-be Hedwig Criss admits were “cathartic;” they also talk about honoring Cory Monteith’s memory. Check out the interview below. View Commentscenter_img Darren Crisslast_img read more

Australia’s FIRB clears Iberdrola’s takeover bid for Infigen Energy

first_img FacebookTwitterLinkedInEmailPrint分享Renewables Now:The Aussie unit of Iberdrola SA has secured approval from the Foreign Investment Review Board (FIRB) to proceed with its proposed acquisition of renewables company Infigen Energy and its installed wind assets totaling 670 MW.The Spanish renewable energy giant announced the milestone on Tuesday.Iberdrola is offering AUD 0.89 (USD 0.62/EUR 0.55) per share for the Aussie wind developer in what has turned into a fierce battle with UAC Energy Holdings Pty Ltd (UAC). The latter, owned by Philippine conglomerate Ayala Corporation’s AC Energy and Hong Kong-based UPC Renewables Group, at the start of June bought a 12.82% stake in Infigen and made an offer of AUD 0.80 per share for the rest of the stock.Later in June, the group raised its bid to AUD 0.86 per share, thus matching the initial one made by Iberdrola and freed the offer from all conditions apart from the FIRB review. Iberdrola responded by making a counter proposal of AUD 0.89 per share, representing a 3.5% premium to the UAC offer.Infigen’s board has advised investors to reject the UAC bid and take no action in respect of the offer but to support the proposal of Iberdrola. The minimum acceptance condition that calls for Iberdrola to acquire more than 50% of Infigen’s stapled securities has to be met before Iberdrola’s bid expires on July 30.Infigen owns about 670 MW of installed onshore wind capacity along with 268 MW of conventional generation and energy storage firming assets plus 246 MW of additional renewable power purchase agreements (PPAs) with third parties. Also, the company has a 1-GW-plus portfolio of wind and solar projects in different stages of development.[Veselina Petrova]More: Iberdrola gets FIRB clearance for takeover of Aussie Infigen Australia’s FIRB clears Iberdrola’s takeover bid for Infigen Energylast_img read more

Liability insurance plan debated Board withholds endorsement

first_img April 15, 2001 Gary Blankenship Senior Editor Regular News Liability insurance plan debated Board withholds endorsement Liability insurance plan debated Board withholds endorsement Senior Editor A proposal to endorse a new liability insurance provider has been rejected by the Board of Governors after they were told it could eventually harm the statewide market. The Member Benefits Committee recommended to the board at its recent meeting in Melbourne that it endorse a malpractice insurance program marketed by Seabury & Smith and underwritten by Chicago Insurance Co. But by an overwhelming vote, the board appeared to agree with former Bar President Ray Ferrero that such an action would undermine rate stability brought by Florida Lawyers Mutual Insurance Co., which was founded by the Bar more than a decade ago. Even though it has not been formally endorsed by the Bar, Ferrero said it is listed as a member benefit and was created by the Bar. Bruce Glassman, of the Member Benefits Committee, said a subcommittee that he chaired reviewed proposals from several companies before settling on one offered by Seabury & Smith and Chicago Insurance Co. The criteria used, he said, was to find a solid, highly-rated company offering the best combination of rates, coverages and incentives. “We’re here to present what is perceived as a major, major benefit to members of the Bar,” Glassman said. Incentives include coverage for part-time lawyers, up to $10,000 paid for loss of income caused by a liability case that goes to court, provision of low-cost CLE for Bar members, and a continued coverage for lawyers who retire, become disabled or die. In addition, the Bar would be paid a two percent fee that would yield $100,000 if the company, as expected, writes $5 million of insurance by its third year, Glassman said. He also noted that Seabury & Smith and Chicago Insurance have set up similar programs in five other states, including California, and they have not pulled out of any of those states. But Ferrero, who spearheaded the creation of FLMIC when he was president in 1988-89 and still chairs the FLMIC board, said the Bar endorsing a different carrier could eventually lead to destabilization of the lawyer liability insurance market and higher rates. He recalled that in the early to mid-1980s several insurance companies first offered cut rate premiums to attract business and then rapidly raised rates, with several carriers leaving the state. At one point, there were three rate increases in one year, including one where rates doubled and another where rates rose 40 percent, Ferrero said. FLMIC has brought stability to the market and helped hold down rates, even for lawyers to buy policies from other companies, he said. And the company is controlled and run by Florida lawyers, Ferrero said, adding that accepting the committee’s recommendation would give more control of the Florida legal insurance market to out-of-state corporations. It would be also unfair to lawyers who have invested in or purchased policies from FLMIC, he said. “I’m here to tell you and our board is here to tell you the endorsement will be misleading and confusing to the lawyers of this state and will be detrimental to the lawyers who invested in FLMIC,” Ferrero said. “The lasting legacy of this generation of lawyers to future generations is the formation of a liability company by lawyers for lawyers.” Board member Arthur Rice asked Ferrero why FLMIC couldn’t offer policies at rates competitive to Seabury & Smith and Chicago Insurance. Ferrero, who noted that FLMIC has many incentives similar to the new proposal, said rate wars won’t necessarily help the long-term market. “We’re not going to chase rates, we’re concerned with actuarial soundness,” he said. “That’s what happened in the 1980s, there was a spiral down [of rates] and a quicker spiral up.” Noting that accepting the Member Benefits Committee’s recommendation would mean the first Bar endorsement of a liability carrier, board member David Bianchi said, “I think it would be a horrible mistake for us to do this. I was on the board [as YLD president and president-elect] when this was done [FLMIC created].. . . I think everyone needs to remember we cannot judge what we need to do based on a snapshot in time. We would be biting the hand that feeds us to endorse a commercial carrier when we’ve got a Bar-created company.” Board member Henry Latimer agreed. “The Bar has never officially endorsed a malpractice carrier and I would urge that it not do so,” he said. The board rejected the committee’s recommendation overwhelmingly by a voice vote.last_img read more

Man Who Faked Drowning Gets 7 Years in Prison

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York Raymond RothA man was sentenced Thursday to 2 1/2 to 7 years in prison for faking his own drowning death in order to collect the insurance money and later impersonating a police officer.Raymond Roth had pleaded guilty at Nassau County court last year  to conspiracy in a deal with prosecutors that included a 90-day jail sentence, plus repaying $36,000 in restitution to authorities that wasted resources searching for him at Jones Beach in July 2012.Hours after that plea, the 48-year-old man pulled up his van beside a woman in Freeport, told her he was a cop and ordered her to get inside before following her into a store, authorities have said.Roth was later convicted of impersonating a police officer and other charges in that case. The sentence handed down this week covers both crimes.Roth’s son, Jonathan, was sentenced to a year in jail after he pleaded guilty to conspiracy for helping his father with the fake-drowning plot.last_img read more

Cops Seek 2 Males Responsible for 11 Armed Robberies in Suffolk

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York Suffolk County Police Department’s Pattern Crimes Unit is looking for two suspects involved in a string of armed robberies that began in late December—and a $3,000 reward is being offered to anyone with information that leads to their arrest. At least 11 businesses—gas stations and donut shops—across Suffolk County have been hit since Dec. 22, police said. Investigators believe two males are responsible for the crimes. Each time, a black handgun is used to force clerks to hand over cash, police said. The latest incident occurred Thursday night in Sayville, police said. The most recent robberies involve a male, medium to tall height, dressed in a black jacket, black pants, black hoodie, and a black ski mask, police said. Investigators believe the male used an accomplice in previous robberies. That suspect is described as male, with a short build and dressed in a sweat suit, police said. Citing the ongoing investigation, police said they will not be releasing photos or video of the robberies at this time. The department is asking anyone with information about the suspects or the incidents to call Crime Stoppers at 1-800-220-TIPS. Crime Stoppers is offering a $3,000 reward for information that leads to the suspects’ arrest. Locations, dates, and times of robberies:Sayville 01/08/15 (9:49 p.m.)Farmingville 01/07/15 (9:00 p.m.)Bohemia 01/05/15 (9:55 p.m.)Holbrook 01/03/15 (10:20 p.m.)Hunt Station 01/02/15 (9:27 p.m.)Deer Park 01/01/15 (6:49 p.m.)Commack 12/29/14 (7:41 p.m.)Smithtown 12/29/14 (8:15 p.m.)St James 12/26/14 (6:18 p.m.)West Hills 12/25/14 (2:30 p.m.)Deer Park 12/22/14 (9:12 p.m.)last_img read more

Bank threats on FOM rules will galvanize credit unions: CUNA

first_imgCUNA Chief Advocacy Officer Ryan Donovan says a banker’s threat to sue reinforces the need for credit unions to have a strong united voice in support of a proposal by the National Credit Union Administration to modernize rules that control who can join which credit unions.“We anticipated the bankers would push back hard against this proposal, after all they did not even wait to see the proposal before indicating their opposition to it,” he says. “It reflects their strategy to oppose anything that might enhance access to credit unions, and it is as much anti-consumer and anti-small business as it is anti-credit union.”The National Credit Union Administration proposed a plan to update field-of-membership (FOM) rules on Nov. 19.In a Nov. 24 American Banker article titled, “Field-of-Membership Clash Takes Nasty Turn with Legal Threat,” Camden Fine, president/CEO of the Independent Community Bankers of America, said the NCUA’s proposal has left bankers “apoplectic.”He added that if the NCUA doesn’t “back off,” there is a “good chance” his group will litigate, the article reported. continue reading » 3SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

NCUA wants to give CUs greater compensation flexibility

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » NCUA headquarterscenter_img Responding to what it sees as a need to update “outdated and burdensome” regulations, the NCUA on Thursday issued an Advanced Notice of Proposed Rulemaking requesting information on how to update regulations related to how senior executives are compensated. Remember, this is an Advanced Notice of Proposed Rulemaking, meaning it is just the informational stage during which NCUA will gather information which it will use to come out with proposed amendments. It is the latest in a series of proposed amendments the agency has made to update its regulations and provide greater clarity.The NCUA’s focus is 12 CFR 701.21(c)(8)(iii) which authorizes federal credit unions to pay an incentive or bonus to an employee “based on the credit union’s overall financial performance.” I have not dug in and done independent research yet on this provision. According to NCUA, the language has caused confusion for credit unions to provide appropriate incentives to their executives.This regulation applies not only to executives but employees as well. For those of you who provide mortgage loans and are looking for greater flexibility regarding sales incentives, keep in mind that whatever you propose also has to comply with the CFPB’s wonderfully nuanced and complicated loan originator compensation rule. The Association will be coming out with a survey on this ANPR and I am curious how much interest it generates.last_img read more

Peoplemovers look to the millenium

first_imgBYLINE: Lawrence J Fabian *BYLINE: * Lawrence J Fabian is Director of Trans21, PO Box 249, Fields Corner Station Boston Massachusetts 02122, USA.Tel: +1 617 825 2318Fax: +1 617 482 7417e-mail: LFabian@ compuserve.comPROSPECTS of an exciting future for automated peoplemovers emerged at the American Society of Civil Engineers’s 6th international APM conference in Las Vegas during April.Maintaining urban rail services has long been an uphill battle, and attracting new passengers seems to be getting even more difficult. As the 20th century closes, many cities around the world are struggling to subsidise rail operations. Most are losing the larger war – an ever-increasing portion of urban travel is made by private car. Even transit optimists find our fin de siècle limited. Others see it as outright bleak.But why such a cloud over mass transit? Too many rail professionals have been, as the old song goes, ’looking for love in all the wrong places.’ We are fixated on dense corridors, whereas today most urban growth is dispersed, making rail transit uneconomic. The debate at Las Vegas centred on harnessing new technologies to serve areas such as airports, shopping malls, office districts, and institutional campuses, or to act as feeders to regional rail. The findings may offer a brighter future for public transport.Service-proven After almost 30 years of vision and experimentation, the APM industry has started to mature. Airports were the first to benefit, with 20 peoplemovers now in operation and 50 more planned around the world. There is a growing menu of proven peoplemover options. Adtranz, Bombardier, Matra, Mitsubishi, and Otis have airport experience, satisfying rigorous, round-the-clock service requirements at costs of over $20 million per km. Now airport peoplemovers are reaching out beyond simple terminal connections to serve remote parking or link to regional rail services, as at Newark and Chicago O’Hare. Five consortia are currently vying for a US$1bn peoplemover network to serve New York’s JFK airport (Table I). With a 12 km main line haul, this will link the air terminals with a nearby subway station and a distant commuter rail hub. Full automation has been specified for steel-wheeled vehicles running on steel rails, offering the prospect of future integration into the Big Apple’s vast rail network.There is a growing number of automated peoplemover projects outside the airport sector. Four driverless metro lines are under construction in France, with others in Ankara, Kuala Lumpur, Singapore, and Torino. Smaller peoplemovers in leisure parks, casinos and other small centres of activity add to the diversity of the industry. In total the current projects in the pipeline are worth some US$6bn.Technology development is reviving: Poma-Otis now has two test tracks operational. Doppelmayr, Garaventa, Leitner, Schindler and Yantrak are bringing new technologies to the market, and even the bus company in Uppsala, Sweden, is testing a marketable peoplemover. Paris’s Charles de Gaulle airport will soon establish the Soulé SK technology as a serious player. The cutting edgeHigher-order technology and intermodal projects are also under way. Outside Boston, personal rapid transit is being developed by Raytheon and the Chicago RTA. A prototype vehicle was prominently displayed in Las Vegas, catching the attention of local television reporters. Raytheon is testing three PRT vehicles, in a research and development programme which entails precision engineering, advanced analysis and commercial patience. PRT promises service more akin to automated taxis than light rail, serving flows of 2000 to 3000 passengers/h for any guideway link. Such capacities may seem low for rail professionals, but it should be kept in mind that this is where the real need is – economic ways to serve modest flows and densities. Are PRT advocates looking for love in the right places? Will they bring a reliable, economic product to this potentially vast market? One obstacle to overcome is our fixation on linear corridors. PRT operates as a network. Ingmar Andreasson’s pioneering simulation work in Sweden has established that adding extra links can satisfy any demand that exceeds the capacity of a single PRT corridor. Meanwhile, planning is under way for PRT demonstrations in Rosemont, near Chicago O’Hare Airport, and near SeaTac airport in Washington state. So far no firm customer has materialised, but planners, investors and potential suppliers are watching with great interest.Innovative approachesThe 400 delegates at APM97 also heard about innovative approaches to public-private funding. A prime example is the recently-opened Mystic Transport Center outside Boston. A small, simple peoplemover, with a pair of Poma-Otis shuttles hauling passive cars over rails by cable, is the key to a bigger, intermodal project.The 235m line, elevated above rail yards, links a station on MBTA’s Orange metro line to the parking garage of an expanding office park along the Mystic River. MBTA is delighted that the US$3m privately-funded project delivers more passengers to its trains. The project has been privately funded as part of a larger parking scheme, supported by a long-term public lease of designated Park + Ride spaces. The simplicity and low cost of the project surprised many who gathered in Las Vegas.Leitner is working on a similar rail-to-parking project in Milano, and Doppelmayr has another shuttle linking two rail lines in Wien. In the early years of the next century, PRT, hectos and automated peoplemovers look set to become more and more common as part of the world’s urban rail framework. For many, the gamble of peoplemover innovation that started in the 1970s may finally be paying off. oTABLE: Table I: Turnkey contenders for the JFK airport access projectSupplier Engineer ConstructorAdtranz Kaiser Yonkers/TurnerBombardier STV Slattery/Perini Siemens-Matra DeLeuw Cather Ralph ParsonsAnsaldo-Breda Edwards+Kelcey RaytheonGEC-Alsthom Morse Diesel Fluor-DanielCAPTION: Is it transit? This privately developed peoplemover in downtown Tampa is both a local amenity and a public service. Supplied by Otis Elevator, it opened in 1985CAPTION: Simple and light, the 235m Mystic Center peoplemover outside Boston, Massachusetts, is part of an innovative Park + Ride strategylast_img read more

European insurer tenders emerging market equity mandate on IPE-Quest

first_imgA Europe-based insurance company has tendered a €200m emerging market equity mandate, according to a search on IPE-Quest.The unnamed investor has put out a search for an asset manager to run a euro-denominated portfolio of all/large-cap equities within emerging markets.The assets should be managed using a core style, and the insurance company has said specifically that the investment process should definitely not result in a value bias.The process has been stipulated as active, with the benchmark for the portfolio being the MSCI Emerging Markets Index. The investment process should involve fundamental analysis of countries, sectors and companies, the insurance company said.It also said it had a preference for a top-down thematic approach in the first phase of the process.Tracking error is expected to be kept between 2% and 7%.Firms responding to the search should have assets under management (AUM) for this asset class of at least €1.25bn, and total AUM for the firm of €2.5bn.Performance should be stated in US dollars to 31 May.The firm should have a track record of at least five years.The deadline for submissions is 26 June.After that, the deadline for the section of a shortlist is 15 July, followed by a deadline for submission of RFPs on 24 August.The final selection will be made by the board on 1 December, according to the search.The IPE news team is unable to answer any further questions about IPE-Quest tender notices to protect the interests of clients conducting the search. To obtain information directly from IPE-Quest, please contact Jayna Vishram on +44 (0) 20 7261 4630 or email jayna.vishram@ipe-quest.com.last_img read more

New Track Surface

first_imgThank you to athletic director, Bryan Helvie, and principal, Andy Allen, and the Batesville School Board for the beautiful restoration of the Batesville High School track surface.  At the football game on Friday night I saw the new track and learned that there were 3 new layers of surface added to the base.Again, the Batesville Community Schools have found an economical way to provide our young students with a complete education–physical as well as mental.  This will provide a safe surface for the track team and others who use the track until funds are available to completely re-do the facility.last_img read more

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