Filmmaking fund – Taking Sides http://taking-sides.com/ Wed, 18 May 2022 04:47:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://taking-sides.com/wp-content/uploads/2021/10/icon-26-120x120.png Filmmaking fund – Taking Sides http://taking-sides.com/ 32 32 “I partially support my partner for 12 years because his business is unfortunately failing: I’m 33 and have $300,000 in stock. Should I sell these shares to pay off my debt of $56,000? https://taking-sides.com/i-partially-support-my-partner-for-12-years-because-his-business-is-unfortunately-failing-im-33-and-have-300000-in-stock-should-i-sell-these-shares-to-pay-off-my-debt-of-56000/ Wed, 18 May 2022 04:47:00 +0000 https://taking-sides.com/i-partially-support-my-partner-for-12-years-because-his-business-is-unfortunately-failing-im-33-and-have-300000-in-stock-should-i-sell-these-shares-to-pay-off-my-debt-of-56000/ I’m 33, currently earning just over $120,000 a year including annual bonus, and my company has offered me about $300,000 of equity in the business, although our stock is brand new, they therefore constantly oscillate from top to bottom. . I put about 6% towards a 401(k) and another 4% towards personal savings, investments and […]]]>

I’m 33, currently earning just over $120,000 a year including annual bonus, and my company has offered me about $300,000 of equity in the business, although our stock is brand new, they therefore constantly oscillate from top to bottom. . I put about 6% towards a 401(k) and another 4% towards personal savings, investments and emergency cash.

As for debt, I have about $35,000 in student loans, $5,000 in credit card debt, and $16,000 in personal loans. I have no car payment. I am partially helping to support my partner for 12 years as his business is unfortunately struggling, but he won’t let go of the business. So part of my income goes to help him cover his bills and expenses.

The big question is, should I sell my company’s equity to pay off my debt? Or should I continue to pay off my debt and allow my stock to grow? I realize that I would have to pay quite a lot of taxes because of the stock gains, so I have to factor that into the sale as well. Thank you very much for your contribution and thank you for your column.

Debt with equity

Dear indebted,

You have come a long way in a very short time. The median salary in the United States for someone your age (25-34) hovers around $50,000 a year, so you’re punching above your weight professionally and with a 12-year relationship under your belt, you are also ahead of the game personally, and clearly living your best life. You don’t have a car payment which is also a plus. So far, so good.

Before we weigh in on your answer, I’m going to offer the first of two unsolicited tips and emphasize the importance of living within your means. If only we could all take this advice to heart! We are all guilty of splurging – sometimes responsibly – from time to time. Your student loan debt was clearly money well spent, and your personal and credit card debt make up a smaller proportion of your overall debt.

That said, it’s important to clear your credit card debt every month and, if possible, avoid paying interest rates on a personal loan. There is no point in paying off your debts if you accumulate a similar amount in the future. This should be the biggest lesson to be learned rather than using your monthly income versus your stock options to go back into the black.

Your student loan debt was clearly money well spent, and your personal and credit card debt make up a smaller proportion of your overall debt.

Before selling shares, it would not be imprudent to consult a tax adviser. For what it’s worth, stock-based compensation awards for services are generally subject to ordinary income tax at the time they acquire or take possession of the stock, says Timothy P. Speiss, tax partner at the firm of equity advisers. personal wealth at Eisner Advisory Group LLC.

“If you acquired the award in 2022, a combined federal and state graduated rate could be approximately 40% (or more) before local tax, employment tax, and additional considerations and other facts. You need confirmation and you should monitor whether you have to pay large enough taxes due to potential gains on the current or future sale of the stock,” he says.

“Your debt level of $56,000 is manageable given your gross income and the value of your assets; however, you should review loan interest rates and consider repaying these amounts, particularly when the interest rate – and interest charges do not appear to be tax deductible – exceeds the return on your investment. assets,” he says. .

Continue to show yourself the same compassion you show your partner and their business, but bring the same critical eye to every effort. It will help you both in the long run.

And now for my second unsolicited tip: Talk to your partner about their plan for the business. You want to balance your support of his dreams with the cold reality of business viability. You may need to hire an independent third-party consultant to help you navigate your partner’s approach to their business. You want to help her make the right decision.

Sometimes it’s hard to let go. But it could mean selling the business, hiring a new business partner, co-investor or even starting a new venture, adds Speiss. “In considering these suggestions, preserving your own income and assets is essential. If the business were to cease, you could still help cover its bills and expenses.

The good news: your debts are manageable and don’t require you to sell your company’s shares, which you may regret later, and you also have other issues to deal with that are just as urgent, namely the business of your partner and your commitment to avoid accumulating even small debts if you don’t have enough money set aside to pay them.

Continue to show yourself the same compassion you show your partner and their business, but bring the same critical eye to every effort. It will help you both in the long run. Sometimes it’s the things you leave on the editing room floor – in which case what questions did you ask do not ask in your letter – it may provide the clearest perspective and ultimately be the most enlightening.

To verify the private Facebook Moneyist group, where we seek answers to life’s trickiest money problems. Readers write to me with all sorts of dilemmas. Ask your questions, tell me what you want to know more or weigh in on the latest Moneyist columns.

The Moneyist regrets not being able to answer the questions individually.

By emailing your questions, you agree to have them published anonymously on MarketWatch. By submitting your story to Dow Jones & Company, the publisher of MarketWatch, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties..

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“How can I be fair to both? : I spent $20,000 more on my daughter’s education than on my son’s. Should I level the playing field and invest $20,000 in stocks for my son’s retirement?

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VAHHS: review of health care bill as lawmakers return home https://taking-sides.com/vahhs-review-of-health-care-bill-as-lawmakers-return-home/ Mon, 16 May 2022 12:34:35 +0000 https://taking-sides.com/vahhs-review-of-health-care-bill-as-lawmakers-return-home/ by Devon Green, Vice President of Government Relations, VAHHS Ding, dong, the 2021-2022 legislative biennium is dead! Or, on life support until we see if the governor issues any more vetoes and calls a special session. It’s been a long two years, as evidenced by the number of departing legislators, including Bill Lippert, Chairman of […]]]>

by Devon Green, Vice President of Government Relations, VAHHS Ding, dong, the 2021-2022 legislative biennium is dead! Or, on life support until we see if the governor issues any more vetoes and calls a special session.

It’s been a long two years, as evidenced by the number of departing legislators, including Bill Lippert, Chairman of the House Health Care Committee. I will never forget that day in March 2019 when he asked health care providers what they needed during the pandemic and then passed supportive legislation in about 24 hours. Thank you.

Our priorities this year were workforce, mental health and regulatory relaxations. Regulatory flexibilities have been extended through the spring of 2023. The Legislature has passed several workforce initiatives for nurses, including: $2 million for nurse educators, $400,000 for preceptor compensation at hospitals at critical access, $2.5 million for employer nursing pipelines, $2.5 million in loan repayment to nurses. and other suppliers, $1 million in loans to nursing professors and $1 million to simulation labs. The Legislature also allocated significant funding for mental health personnel and passed the governor’s proposal for $500,000 in emergency services for mental health crisis patients with long stays.

Click HERE for links to VAHHS Bill Tracker.

These ventures would be strenuous during a regular session, but labor challenges, new variants, and supply shortages cropped up like a chainsaw murderer in a 70s horror movie every time we thought to be able to take a collective breath. Fortunately, I work closely with those who move our health care system and our government forward to serve Vermonters. These people are truly inspiring and I appreciate their work.

Vermont Association of Hospitals and Health Systems May 16, 2022

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Virginia Court Approved $489 Million in Aid for Victims of Illegal Internet Payday Loans https://taking-sides.com/virginia-court-approved-489-million-in-aid-for-victims-of-illegal-internet-payday-loans/ Sat, 14 May 2022 13:20:37 +0000 https://taking-sides.com/virginia-court-approved-489-million-in-aid-for-victims-of-illegal-internet-payday-loans/ RICHMOND, Va. (WRIC) – The federal court in Richmond has given preliminary approval to a class action settlement that would provide $489 million in relief to victims of illegal internet lending. The ruling was released Thursday, May 12, and will affect approximately 555,000 consumers who have been charged more than 600% interest on loans by […]]]>

RICHMOND, Va. (WRIC) – The federal court in Richmond has given preliminary approval to a class action settlement that would provide $489 million in relief to victims of illegal internet lending.

The ruling was released Thursday, May 12, and will affect approximately 555,000 consumers who have been charged more than 600% interest on loans by predatory internet payday lenders.

Litigation against predatory lenders began more than three years ago when a coalition of law firms, including the Virginia Poverty Law Center, Kelly Guzzo and Consumer Litigation Associates, came together to address the ongoing challenge of lending illegal wages.

“These law firms have taken the illegal lenders to court,” said Jay Speer, executive director of the Virginia Poverty Law Center. “We are very grateful for their tenacity and passion in engaging in this three-year fight for today’s settlement.”

Today’s settlement is one of many these law firms have secured with illegal internet lenders in recent years, including a $433 million settlement in 2019.

The proposed settlement provides $450 million in consumer debt forgiveness that will be paid in cash for most consumers.

The settlement will also set aside $39 million for the creation of a common fund for those who have repaid illegal amounts.

Settlement Class Members will not need to submit a Claim Form and will receive notice by email or US Mail.

In addition to litigation, VPLC helps borrowers through the organization’s predatory lending hotline to 866-830-4501 and advocating for better laws to protect borrowers.

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Business leaders understand the cost of living crisis better than politicians https://taking-sides.com/business-leaders-understand-the-cost-of-living-crisis-better-than-politicians/ Fri, 13 May 2022 04:00:43 +0000 https://taking-sides.com/business-leaders-understand-the-cost-of-living-crisis-better-than-politicians/ The Queen’s Speech this week paved the way for dozens of parliamentary bills to come – but there was very little to solve the problem of soaring household bills. The absence of legislation for a windfall tax or new measures to deal with the worsening cost of living crisis has left the government feeling like […]]]>

The Queen’s Speech this week paved the way for dozens of parliamentary bills to come – but there was very little to solve the problem of soaring household bills.

The absence of legislation for a windfall tax or new measures to deal with the worsening cost of living crisis has left the government feeling like it is out of ideas or simply not s worry about it.

With calls for an emergency budget growing louder by the day, consumer-facing business leaders have spoken out about how soaring inflation is hitting Britain’s economy focused on consumption.

This week, think tank NIESR said 11.3 million households were struggling to make ends meet, predicting that 1.5 million faced food and energy bills that exceeded their disposable income.

Jean Allan, tesco chair, said the UK was already experiencing ‘true food poverty for the first time in a generation’, with customers regularly asking cashiers to ‘stop when you reach £40’. Allan, who is also chairman of the CBI, supports a windfall tax on energy companies, which is saying something.

The head of Centrica retaliate saying it would be like ‘burning the furniture to keep warm’ – just like the firefighters in London issued security warnings against doing just that after a man looking to save money on his energy bills unintentionally burned down his home in the capital.

The ScottishPower chief has warned the government that the time needed to rethink its existing energy support scheme is “running out fast”. As political pressure mounts, the Treasury has indicated that it may announce more support in August, when the level of the October energy price cap is known.

If the cap rises to £2,900 this autumn, as ScottishPower predicts, up to 40% of UK households could be in fuel poverty, spending more than 10% of their income on energy bills.

The company suggests setting up a ‘deficit fund’ to cut £1,000 off the annual bills of struggling households on prepayment meters or receiving means-tested benefits. It would cost £10billion, funded by an annual £40 levy on everyone’s electricity bills for the next decade.

Directing the most aid to the poorest is how the Chancellor should have targeted his existing aid measures, but if average bills reached £2,900, the finances of middle-income families would also be horribly squeezed. Is it right to deny them any help?

It’s not as if the Queen’s Speech hinted at better solutions, other than “growing the economy” and boosting renewable energy production in the years to come.

In his speech on Tuesday, Boris Johnson, the Prime Minister, admitted it would be impossible to ‘completely protect people from the fallout’, but the half-hearted promise to ‘continue to look at what more we can do to mitigate the pressure over the next few months” just doesn’t cut it.

With more and more households running deficit budgets, one thing we can be certain of is a huge increase in late payments, growing arrears and bad debts that will mar the personal finances of millions of people for years to come.

The Queen’s Speech Money Bill should have contained more innovative measures to address this.

To quote ScottishPower chief executive Keith Anderson, this crisis is hitting “people who have never been in debt and who have never had trouble paying their bills”. Many will rely on credit to fill the gap.

Credit card spending has soared and this week the Financial Times revealed that some struggling households were resorting to ‘buy now, pay later’ loans to cover rising energy bills.

Overall levels of financial resilience are worrying. New search According to PwC, 16 million UK adults would have to use the credit to pay an unexpected bill of £300. However, more than 20 million do not meet the credit requirements of traditional lenders (compared to 16 million before the pandemic), making it even more expensive for them to borrow.

A series of scandals involving high-cost credit providers eliminated many subprime lenders, leaving people vulnerable to illegal loan sharks.

With millions relying on high-cost credit to cover emergencies, it’s high time the government galvanized support for non-profit lenders, such as credit unions and community development financial institutions (CDFI). They charge much lower interest rates, but suffer from a lack of awareness (and loan capital).

“More and more people are unbuffered and turning to community lenders when emergencies tip them into crisis,” says Theodora Hadjimichael, chief executive of Responsible finance, the professional body for CDFIs. “We are seeing people from higher income levels and more working families, which shows that the level of financial exclusion is increasing.”

CDFIs can only lend if it is affordable, but if clients are denied a loan, many will still try to help in other ways. “This could include using benefit checkers to make sure customers are claiming all the help they’re entitled to, referring them to energy charities or even formal debt counseling,” says Hadjimichael. .

Theodora Hadjimichael, Chief Responsible Finance Officer

Currently the sector is tiny, lending around £36million a year to 67,000 customers. Expanding it is a cause the government – ​​and the big banks – should support.

At present, many customers are referred to responsible lenders through ‘signalling relationships’ with local authorities, housing associations and financial advice organisations.

“If traditional banks flagged our services to all of their basic bank account holders, that would be a huge boost,” she says, adding that customers who build a credit history with community lenders will be more likely to access their bank’s traditional credit products in the future.

With millions of dollars about to be knocked out of their banks in the coming year, directing rejected borrowers to nonprofit lenders seems like a sensible move — but there’s a problem.

For community loans to work at scale, more loan capital is urgently needed. In the UK, CDFIs do not hold deposits, which gives them more flexibility as to who they can lend, but means they rely on external sources of funding to fund their loans.

In the US, banks have an obligation to support community lenders – so why not legislate for this in the UK?

The government could provide more capital through the Dormant Assets Bill, which has already received royal assent. A consultation on how to use £880m of cash in forgotten bank accounts and pensions will be launching this summer and community funding initiatives deserve a big chunk.

He put in place Fair4All Finance increase access; the financial regulator is supportive and as the sector begins to gain momentum, the hope is that impact investors might also really support it. But we have no time to waste.

So I appeal to those who know best the dire state of consumer finances – the heads of our retail banks. Why wait for the government to force your support? Show us that your corporate social responsibility programs really matter and support community lenders today.

Claer Barrett is the FT’s consumer editor: claer.barrett@ft.com; Twitter @Claerb; instagram @Claerb

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Farm Losses From Texas Wildfires Estimate $23.1 Million https://taking-sides.com/farm-losses-from-texas-wildfires-estimate-23-1-million/ Tue, 10 May 2022 19:44:48 +0000 https://taking-sides.com/farm-losses-from-texas-wildfires-estimate-23-1-million/ The Texas wildfires that ripped through the Eastland Complex, parts of Panhandle County and Coryell county areas covering 433,000 acres resulted in preliminary agricultural loss estimates of $23.1 million, according to Texas A&M AgriLife Extension Service economists. Preliminary estimates for the devastating wildfires in Texas are $23.1 million, which includes fencing repair costs. (Texas A&M […]]]>

The Texas wildfires that ripped through the Eastland Complex, parts of Panhandle County and Coryell county areas covering 433,000 acres resulted in preliminary agricultural loss estimates of $23.1 million, according to Texas A&M AgriLife Extension Service economists.

Preliminary estimates for the devastating wildfires in Texas are $23.1 million, which includes fencing repair costs. (Texas A&M AgriLife photo by Kay Ledbetter)

Losses include over 400 livestock deaths, loss of grazing values ​​and fencing repair costs. Dry and windy conditions throughout the winter season and into early spring increased the threat of fire danger.

“AgriLife Extension continues its commitment to provide the necessary resources to landowners and ranchers to help recover from this tragic event,” said Rick Avery, Ph.D., director of AgriLife Extension, Bryan-College Station. “We appreciate the continued efforts of our dedicated agent network and industry partners. Texas agricultural producers are resilient, even though the damage to thousands of acres of pasture, livestock and infrastructure will last a long time.

“The Texas Division of Emergency Management will continue to support local officials’ response and recovery efforts following the devastating wildfires that affected the state this year,” said Texas Division of Emergency Management Chief Nim Kidd. “I thank the hundreds of local and state first responders who worked around the clock to protect life and property from these wildfires. TDEM field staff will continue to support local partners in affected areas as these communities recover.

Preliminary estimates were calculated starting with the fires in early March and continuing through the end of April. AgriLife Extension economists say preliminary loss estimates could rise due to ongoing fire threats.

“Drought conditions only intensify the potential for further economic losses given the outlook for hay availability and associated feed costs,” said David Anderson, Ph.D., AgriLife Extension Livestock Economist. , Bryan-College Station.

AgriLife Extension has deployed its Disaster Assessment Recovery Officers along with its County Officers to set up animal supply points in the Eastland complex at Rising Star, Cross Plains and Gorman. Officers helped collect donations and distribute hay, animal feed and other resources. They also provided field support and damage assessment.

“Our disaster recovery agents have worked tirelessly to establish and operate animal supply points in key areas,” said Monty Dozier, Ph.D., AgriLife Extension Disaster Assessment Recovery Program Coordinator, Bryan-College Station. “Officers were working around the clock to coordinate the distribution of hundreds of round bales of hay, livestock and pet food, assisting with field assessments and livestock identification during this catastrophic event. Once again, we thank those in Texas and our out-of-state friends who donated during this critical time of need.

AgriLife extension, Texas A&M Forest Service and Texas Division of Emergency Managementall part of The Texas A&M University Systemprovided extensive support and response efforts throughout the wildfire that began in March.

During a seven-day period in late March, state, federal and local fire resources responded to 192 wildfires that burned 173,559 acres. More than 300 firefighters from the Texas A&M Forest Service and more than 200 firefighters from the Texas Intrastate Fire Mutual Aid System, along with firefighting personnel from 28 states, have been positioned statewide to respond.

Disaster Assistance

The United States Department of Agriculture’s Farm Service Agency has approved low-interest physical loss loans to help producers repair or replace eligible damaged or destroyed physical assets. To confirm your eligibility and access application information, contact your local USDA service center.

The U.S. Small Business Administration has approved Governor Greg Abbott’s request for a disaster declaration in communities affected by the Eastland Complex Fire, unlocking access to several loan programs. Applicants can apply for loans, receive additional information on disaster relief and download apps online. Applicants may also call the SBA Customer Service Center at 800-659-2955 or email disastercustomerservice@sba.gov for more information about SBA disaster assistance.

Texans affected by the wildfires are encouraged to submit property damage to pity.tdem.texas.gov to help officials identify resource needs and determine the state’s eligibility for additional disaster assistance.

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Valuation bias and digital redlining: no one-step solution https://taking-sides.com/valuation-bias-and-digital-redlining-no-one-step-solution/ Mon, 09 May 2022 04:05:11 +0000 https://taking-sides.com/valuation-bias-and-digital-redlining-no-one-step-solution/ Today, non-white homeowners tend to own property that is lower in value than their white counterparts. Across the country, minority-majority neighborhoods are cheaper to buy, but that also means residents build less intergenerational wealth there over time, which is just one factor that compounds existing racial inequalities. As new technologies play an increasingly important role […]]]>

Today, non-white homeowners tend to own property that is lower in value than their white counterparts. Across the country, minority-majority neighborhoods are cheaper to buy, but that also means residents build less intergenerational wealth there over time, which is just one factor that compounds existing racial inequalities.

As new technologies play an increasingly important role in home appraisals and a large portion of today’s appraisers reach retirement age, industry stakeholders need to take steps to ensure that the lingering legacy of racism does not remain entrenched for another generation. .

What is digital redlining?

There are many ways to describe digital redlining, but understanding the history of physics Redlining is a crucial first step.

In short: In the early and mid-twentieth century, official government policy made it more difficult – often impossible – for nonwhites to buy a home or obtain a mortgage because the Federal The Housing Administration considered ownership in majority minority neighborhoods too risky for loan underwriting. The term “redlining” comes from the color-coded charts the FHA used to categorize lending risk into neighborhoods, but is now used colloquially to describe all kinds of systemic discrimination against non-whites.

Many real estate developments, especially in the decades following World War II, also prohibited non-whites who could afford to buy homes.

” Its very important. The history of various policies, not just redlining but many government policies, has a great impact on the current housing situation,” said Kenon Chen, executive vice president of corporate strategy at Clear Capital, a real estate appraisal technology.

Today, digital redlining can mean not only how technology perpetuates low property values ​​in historically redlined neighborhoods, but also other ways in which all kinds of technology can be subtly or overtly discriminatory.

“Redlining, historically, has created a valuation disparity in majority black neighborhoods,” says Mark Alston, public affairs president for the National Association of Real Estate Brokers (NAREB). “If you have a perfect appraisal in a majority black neighborhood today with perfect comps and no bias on the part of the appraiser,” chances are it will always be appraised at a lower value than a similar property in a predominantly white neighborhood because of this historical bias.

Can technology help?

Desktop appraisals, which allow appraisers to estimate the value of a home without visiting the property – a practice that has gained much more traction during the pandemic – and automated valuation models (AVMs) are increasingly more common. Earlier this spring, Fannie Mae made office appraisals a permanent option for appraisers appraising single-family primary residences.

These methods could potentially help remove some biases from the equation – and help fill the void as more evaluators retire – but technology alone is not the answer and has limitations.

“In some of the underserved communities in this country, you have thriving areas,” says Alston. “How sensitive is the algorithm to this area? The lack of transparency is really a problem.

The accuracy of AVM also varies greatly depending on the number comps are available at the time of the assessment run.

According to CoreLogic. “Generally, the more property sales, data and property information available in an area, the more accurate the AVM estimate is likely to be.”

Beyond the amount of comps available, if these recent sales are within a historically bounded area, AVMs often contribute to the problem rather than limit it.

What else can we do?

Making assessments fairer for all will depend as much on the adoption of new technologies as diversifying the ranks of the reviewers themselves, says Alston. According to data from the Bureau of Labor Statistics, nearly 98% of active appraisers are white and only about 30% are women.

The Biden administration released a proposal this spring, the Plan to Advance Property Appraisal and Valuation Equity (PAVE), which suggests a number of assessment reforms, including:

  • Create an appeal process when an assessment falls below expectations
  • Strengthen data comps used for assessments
  • Addressing Bias in AVMs

Additionally, in the fall, the US Department of Justice announced an anti-redlining initiative, which includes increased oversight of lending institutions that discriminate against minority borrowers.

These big steps are easier said than done, however, says Alston.

“I don’t know what ointments are other than diversifying the assessment field,” says Alston. “I think you have to do it first and then we have to talk about repair. If I cement this lower valuation, I cement the disparity and the redlining has its intended effect forever.

There’s no easy fix that can level the playing field in real estate overnight, but experts say work can be done to start addressing some of the disparities that exist.

“This is actually an amazing opportunity. The ‘Never let a good crisis go to waste’ quote: we are finally looking at some of these long-standing issues head-on,” Chen says. “As we look at both the challenge reduce bias and increase diversity in the profession, both of these problems can be solved with the same solutions.”

At the end of the line

Lower property values ​​make it harder for nonwhite and especially black homeowners to build family wealth, so finding ways to address the disparity is crucial to help nonwhites achieve greater economic stability. If industry stakeholders do not take active steps to make assessments fairer, existing biases will never be corrected and may be further perpetuated by new technologies. As the assessment process adopts greater automation, it is essential to ensure that these new practices are implemented fairly.

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“Trapping” or “incompetence”? Sri Lanka’s debt crisis revives debate over Chinese loans https://taking-sides.com/trapping-or-incompetence-sri-lankas-debt-crisis-revives-debate-over-chinese-loans/ Sat, 07 May 2022 12:14:00 +0000 https://taking-sides.com/trapping-or-incompetence-sri-lankas-debt-crisis-revives-debate-over-chinese-loans/ While Chinese lending may have added to debt problems in some countries, the debt owed to China was in most cases dwarfed by what was owed to other lenders. While Chinese lending may have added to debt problems in some countries, the debt owed to China was in most cases dwarfed by what was owed […]]]>

While Chinese lending may have added to debt problems in some countries, the debt owed to China was in most cases dwarfed by what was owed to other lenders.

While Chinese lending may have added to debt problems in some countries, the debt owed to China was in most cases dwarfed by what was owed to other lenders.

As Sri Lanka’s ongoing debt crisis shines a spotlight on China’s lending practices, Beijing has pushed back against allegations of what has been called “debt trap diplomacy”.

Many economies are reeling from the impact of the COVID-19 pandemic, which has heightened financial stress. Some of these countries, such as Sri Lanka and Zambia, have also benefited from large Chinese loans.

Former Chinese central bank governor Zhou Xiaochuan acknowledged at a conference last month that there were debt problems in partner countries, but refuted suggestions that China had a motive to foment such crises.

“The most of [the lending] is for projects that companies from debtor countries have demanded, and at the same time they have economic benefits and are beneficial to the country in the long run,” he said, as quoted by the Hong Kong-based agency. . South China Morning Post. “There is a degree of difficulty in this process and it needs to be carefully considered and designed to find a way to alleviate the debt problems of countries along the Belt and Road, while avoiding suggestions according to which there are bad motives,” he said.

Experts noted that while Chinese lending may have added to debt problems in some countries, debt owed to China was in most cases dwarfed by what was owed to other lenders, including the Bank. world and the International Monetary Fund.

In 2020, Zambia became the first significant default during the pandemic. Since the end of last year, the To post reported, its debt had reached $32 billion, or 120% of GDP. Chinese loans, however, accounted for 18% of this figure.

For Sri Lanka, this figure is even lower. According to the Sri Lankan government, China accounted for 10% of outstanding external debt of $35 billion in April 2021.

Either way, China’s debt appeared to be more a symptom than a cause of the crisis, due to economic policies that led governments to seek short-term solutions or pursue projects they could not afford. . Some governments have turned to China because they could not find loans on similar terms elsewhere. In these cases, Chinese lending worsened rather than caused, which was already about exposure. And the countries themselves have sought Chinese funding.

With the increase in Chinese lending, especially since the launch of the Belt and Road Initiative in 2013, an increasing number of countries are exposed to Chinese debt. A 2021 study by AidData, a development research lab at the College of William & Mary in the United States, found $385 billion in underreported debt in projects in dozens of countries around the world. BIS framework, and 42 countries now have levels of public debt exposure to China above 10% of GDP.

From 2000 to 2017, Iraq ($8.5 billion), North Korea ($7.17 billion) and Ethiopia ($6.57) were the top recipients of Chinese aid, while Russia ($151.8 billion), Venezuela ($81.96 billion) and Angola ($50.47 billion) were the largest recipients of Chinese loans. India ranked 23rd in the list of top Chinese loan recipients from 2000 to 2017, receiving $8.86 billion, according to the study.

While debt is rising and fueling problems for partner countries, however, the gains for China are not clearly apparent, as the “debt trap” theory suggests. In most of these cases, Chinese companies had little to gain from defaulted loans and ended up restructuring the loans rather than repossessing the assets.

Research by Chinese scholars Deborah Brautigam and Meg Rithmire showed that “Chinese banks are willing to restructure the terms of existing loans and have never seized an asset from any country, let alone Hambantota Port” in Sri Lanka, which is the most widely cited. example of the “debt trap” theory.

However, this does not mean that Chinese loans are without problems. A study that analyzed 100 contracts between Chinese public entities and government borrowers in 24 developing countries in Africa, Asia, Eastern Europe, Latin America and Oceania, led by Anna Gelpern at the Peterson Institute for International Economics, Sebastian Horn at the Kiel Institute for the World Economy, and others have found that one of the problems with Chinese contracts is “unusual confidentiality clauses that prevent borrowers from disclosing the terms or even the existence of the debt”.

Other research on Chinese loans suggests that the funding from China, rather than a plan coordinated by Beijing, has been haphazard and very poorly thought out, resulting in losses for Chinese companies. As noted in a study by Lee Jones of Queen Mary University of London and Shahar Hameiri of the University of Queensland for Chatham House, China’s overseas loans were “a system of international development finance fragmented and uncoordinated”.

It’s not unlike lending in China itself, where domestic debt has reached alarming levels and regulators have sought to tighten debt-fueled growth and cut wasteful spending on unnecessary projects. .

As noted Beijing-based economist Michael Pettis recently observed, the debt problems facing countries that received Chinese loans were more likely the result of “incompetence,” rather than a consequence of ” nefarious conspiracies”.

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dentalcorp invests $1 million in student support and well-being at University of Alberta School of Dentistry https://taking-sides.com/dentalcorp-invests-1-million-in-student-support-and-well-being-at-university-of-alberta-school-of-dentistry/ Thu, 05 May 2022 20:31:00 +0000 https://taking-sides.com/dentalcorp-invests-1-million-in-student-support-and-well-being-at-university-of-alberta-school-of-dentistry/ TORONTO, May 5, 2022 /CNW/ – Dentalcorp (TSX: DNTL), from Canada bigger and North America fastest growing dental practice networks, today announced a $1 million gift in student support and welfare for from the University of Alberta (U of A) School of Dentistry. “Like from Canada leading dental services organization, we feel responsible for bringing […]]]>

TORONTO, May 5, 2022 /CNW/ – Dentalcorp (TSX: DNTL), from Canada bigger and North America fastest growing dental practice networks, today announced a $1 million gift in student support and welfare for from the University of Alberta (U of A) School of Dentistry.

“Like from Canada leading dental services organization, we feel responsible for bringing about positive change in our industry, which includes doing our part to support the next generation of clinicians,” says guy amini, Chairman, Dentalcorp. “We are honored to partner with the world-renowned U of A School of Dentistry to not only support students’ academic journey, but their well-being as well.”

This investment will help the University of Alberta provide the best possible student experience at its dental school by improving a learner-focused curriculum, student infrastructure and scholarships. In close alignment with dentalcorp’s commitment to improving oral care in from Alberta communities, the goal of Student Support and Wellness is to help dental and dental hygiene students achieve their full potential and become successful dental professionals improving oral health in from Alberta communities.

“dentalcorp has a history of supporting dental education through Canadaand the School of Dentistry is thrilled with the impact this donation will have at the U of A. We are extremely grateful for their commitment to enriching our students’ learning experiences and well-being,” says the dr. Paul Majorpresident of the from the University of Alberta School of Dentistry. “This very generous donation and commitment will improve student well-being by providing much-needed support to students with demonstrated financial need. The scholarships and emergency funding for students provided by dentalcorp will help break down financial barriers by ensuring more equitable access to dental education.

“Scholarships are an invaluable resource for many students, easing the financial stress of dental school and allowing us to focus on becoming the best clinician we can be,” said Lou-ann de Goeij, President. of the Dental Students’ Association. “It is through donations like these that we provide opportunities for students from diverse socio-economic backgrounds to pursue careers in dentistry. We thank dentalcorp for their incredible generosity!”

With these funds, the University intends to support:

  • the Dentistry for Life Scholarship Endowment Fundwhich helps dental and dental hygiene students overcome the financial barrier to education, supporting an equitable and inclusive community of practice.
  • the Dental Student Emergency Loan Fundwhich provides emergency loans to dental students with temporary financial needs.
  • the Paths to dentistry student initiative, which facilitates equal educational opportunity through the financial assistance of aspiring high school graduates from low-income families.

The School of Dentistry will also recognize this investment by designating the Dentalcorp Student Lab and the Dentalcorp Simulation Lab. These clinical classrooms provide dental and dental hygiene students with a safe environment that reinforces standardized patient care and patient safety procedures. These key spaces connect the School of Dentistry to the community by providing its students with hands-on experience, providing care to more than 10,000 patients each year.

About Dentalcorp

dentalcorp is from Canada bigger and North America fastest growing networks of dental practices committed to advancing the overall well-being of Canadians by providing the best clinical results and unforgettable experiences. dentalcorp acquires leading dental practices, uniting its network in a common goal: to be from Canada most trusted health care network. Leveraging its industry-leading technology, expertise and scale, dentalcorp offers professionals the unique opportunity to maintain clinical autonomy while unlocking their potential for future growth. To learn more, visit dentalcorp.ca

SOURCE dentalcorp holdings ltd.

For further information: Michelle Robichaud, [email protected]For investor inquiries, please contact: 416.558.8338 ext. 116, [email protected]

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Infrastructure Part II: What’s in the Pipeline? https://taking-sides.com/infrastructure-part-ii-whats-in-the-pipeline/ Tue, 03 May 2022 04:02:58 +0000 https://taking-sides.com/infrastructure-part-ii-whats-in-the-pipeline/ AAs an investor-owned utility, McDonough says only a small portion of IIJA money will be available for NJAW. This will likely be provided for lead service lines due to legislation signed by the Governor last year that requires a public community water systemtime to inventory and replace lead service lines within 10 years. This legislation […]]]>

AAs an investor-owned utility, McDonough says only a small portion of IIJA money will be available for NJAW. This will likely be provided for lead service lines due to legislation signed by the Governor last year that requires a public community water systemtime to inventory and replace lead service lines within 10 years. This legislation provides for cost recovery by investor-owned public water systems.

Overall, McDonough hopes NJAW will be a resource for municipalities that it is not already serve if the infrastructure money they receive is not enough for their water system problems.

This is the ecosystem

According to George Kimmerlefounding partner of The Kimmerle Group, the Harding Township-based architecture and planning firm, water inThe issue of infrastructure encompasses the entire ecosystem, including land use planning. Although there is a lot of talk about replacing lead service lines in the IIJA, Kimmerle points out that there are other issues that need to be taken into accountlike the quasurface water flowing into reservoirs, aquifers and wells, in addition to flooding issues.

“You have to look at the larger question of what’s happening, developmentally, across the state,” Kimmerle said. “In terms of individual cities, there are natural spaces and landscaped spaces. We to have to understand the relationship – and buffer and boundary – that must exist between the two to ensure that each is a viable ecosystem.

A recent study Kimmerle conducted with the United States in Mayors Association of 1,320 communities nationwide, revealed that mayors also understood that infrastructure funding must go to flood control. “Areas like Hoboken and Lower Manhattan need flood valves or some type of physical barriers,” Kimmerle said. “EMayors understand that controlling development in these types of areas has a direct impact on the type of flooding that occurs upstream.

Broadband

The IIJA is also providing $65 billion nationwide for Internet deployment and accessibility efforts, which New Jersey is expected to receive a minimum of $100 million. According to a White House press release, there are at least 115,468 people in the state without internet access, and 18% of the state’s population, or 1.56 million people, will be eligible to Participate in the FCC’s Affordability Connectivity Benefit (ACP) program. The CPA was originally called the Emergency Broadband Benefit program and was created in response to the need and importance of connectivity during the COVID-19 pandemic. Under the ACP, low-income households can reduce their Internet or wireless costs by up to $30 per month.

Nationally, AT&T has participated in the program, and according to Joseph Divis, president of AT&T New Jersey, the state is well positioned relative to other States regarding broadband availability.

The other side of providing broadband access to those who don’t have it is the digital literacy and equity component, Divis says. “With all the work to make sure broadband is readily available and affordable, you need to ensure residents and families are able to use the technology,” says Divis. “It’s something we’re already working on with the AT&T Connected Learning Initiative.”

Through this $2 billion national AT&T program, the company is educating on the users through digital browsers; people who support and educate local individuals on new technologies.

According to Divis, AT&T has a long history of investing in New Jersey. For the three years ending in 2021, the company has invested $1.2 billion in the stat. “That’s part of the reason New Jersey is well positioned to embark on the journey to universal broadband,” he said.

Divis sees public/private partnerships as a way to put federal funds to good use, as telecommunications companies such as AT&T has a long history of investing and capitalizing on providing robust broadband connectivity.

Workforce infrastructure

At Matrix New World Engineering, the national and global engineering firm headquartered in New Jersey in Florham Park, Andy RaichlePE, vice president, says the company expects to be extremely busy as IIJA money begins to roll in, but he is concerned about the shortage of engineers and construction workers on the ground.

He explains the the world of architecture and engineering was busy and experiencing a labor crisis before the federal government invoice, and attributes the labor shortage to the fact that the country has not invested in STEM (science, technology, engineering and mathematics) education for a long time. “For 30 years or more, STEM [education] did not follow [workforce] request. So when you get hit with a big chunk of work like this [IIJA money]the problem becomes acute, Raichle said.

Even with the shortage, he said, IIJA funds mmust be take advantage of. “We have deferred this investment for a lifetime,” Raichle said. “We can’t wait any longer. We will have to wrestle with the problem. However, if anyone can do it, this country can.

For more business news, visit NYC News Now.

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Fullerton India offers personal loan to meet emergency medical expenses https://taking-sides.com/fullerton-india-offers-personal-loan-to-meet-emergency-medical-expenses/ Fri, 29 Apr 2022 04:30:00 +0000 https://taking-sides.com/fullerton-india-offers-personal-loan-to-meet-emergency-medical-expenses/ Bombay, Maharashtra, India: Fullerton India Credit Company is a leading non-banking financial institution that offers a convenient way to get a loan. Customers can have a smooth and hassle-free experience with Fullerton India. Salaried applicants can apply for an emergency medical loan on the fully digital Fullerton India InstaLoan app for planned and unplanned […]]]>


Bombay, Maharashtra, India:
Fullerton India Credit Company is a leading non-banking financial institution that offers a convenient way to get a loan. Customers can have a smooth and hassle-free experience with Fullerton India. Salaried applicants can apply for an emergency medical loan on the fully digital Fullerton India InstaLoan app for planned and unplanned medical expenses. Enjoy instant approvals, faster loan processing and more.



Meet unforeseen medical expenses easily with Fullerton India


Medical emergencies are rarely accompanied by a clear indication. These situations must be dealt with quickly, without causing delay. However, an emergency can impose heavy financial burdens on people. A Personal Loan Fullerton India helps eligible applicants easily acquire funds through simple loan eligibility and accessible online application services.



Why trust Fullerton India in medical emergencies?


Below is a list of key features offered by Fullerton India to help customers during all kinds of medical emergencies:

 

  • Get a higher sanctioned amount:



When people run out of funds, they compromise on treatments. However, with Fullerton India, personal loan customers can avoid a cash crunch and risky delays in processing. Depending on their eligibility, applicants can get a loan of up to INR 25 lakhs*. Moreover, they can use it to pay for all medical expenses without any restrictions on end use.

 

  • Smooth application and approval process:



The Fullerton InstaLoan app allows salaried applicants to apply for a loan from anywhere, anytime. Depending on their eligibility, they may also receive an approval in principle or a decision instantly within minutes of submitting the online application form. Thus, the hassle of visiting a branch and waiting in long queues can be easily avoided. One can also check the maximum loan amount they can get using the Personal Loan Eligibility Calculator. After successful verification checks and evaluation of documents, the loan is approved, after which the required funds will be credited to the respective bank account.

 



Fullerton India offers easy repayment plans with an option to schedule their monthly EMIs and tenure based on the monthly income of the borrower. Clients have the opportunity to be financially stable in the midst of a medical crisis. They can choose a repayment term between 12 and 60 months so that the resulting EMI fits into their budget.

 

  • Competitive interest rates:



the personal loan interest rates are profitable. Competitive rates are in line with market standards. Eligible borrowers with excellent repayment capacity and good credit ratings can negotiate better deals. As a result, customers can take out a loan and weather the crisis without too much stress.

 

  • Get a loan without collateral:



With an emergency loan from Fullerton India, sudden and unforeseen expenses can be tackled without the need to pledge existing assets or investments as collateral.

When clients are looking for a personal loan for an emergency, they can trust Fullerton India personal loan. Its prominent features such as online application, instant approvals, online disbursement, competitive interest rates and flexible terms make it a reliable and convenient option for borrowers. Employed borrowers can also apply to the Fullerton India Instaloan Appavailable on Android and iOS.

About Fullerton India

Fullerton India Credit Co. Ltd. is an NBFC (non-bank financial company) registered with the Reserve Bank of India and is owned by SMFG and FFH. As an NBFC, Fullerton India offers different types of loans to customers for their distinct needs with low interest rates and easy EMIs. Fullerton India offers quick personal loans, business loans, SME loans and home loans. In addition, it offers various retail financial services to clients ranging from rural households to SMEs in the areas it serves. Headquartered in Mumbai, the company employs over 14,000 people in 648 branches, serving nearly 3.6 million customers in 600 cities and over 58,000 villages in India.



For more information,

Contact: 1800 103 6001
Opening hours: 9:00 a.m. to 7:00 p.m. (every day except Sunday, the 4th Saturday of the month and public holidays)

Website: www.fullertoninde.com
You can also visit: https://associations.fullertonindia.com/contact-us.aspx


*Terms and conditions of application.


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