0

Wordflipping Victoria boy gets William Shatners support for invented word

first_imgVANCOUVER – When six-year-old Levi Budd saw the word stop on a sign, he created the word pots. Before long, he was imagining words backwards and coming up with rats from star and pets from step.The inquisitive word lover had just one question for his mom that day in January, when the two were in the car and he turned stop into pots: “What do we call a word that spells another word backwards?”His mom and dad, Jessy Friedenberg and Lucky Budd, discovered there’s no word defining such flipped words so Levi decided he better invent one: levidrome, which he told his parents explains why spit is tips and spoons are snoops.Lucky Budd said his son started reading at age three and by four knew that the word palindrome means a word reads the same spelled forward and backward, like racecar.Budd, a historian and author of nine books, has proposed levidrome, pronounced lev-ih-drome, to dictionary publisher Merriam-Webster.Merriam-Webster explained to Budd that a word must be in common use before it’s accepted though levidrome has already been added to its open-source dictionary of user-submitted words and the online Urban Dictionary.A YouTube video (http://bit.ly/2hPVYgu) Budd posted about five weeks ago to explain his son’s levidrome fixation has created buzz among students across the country and has also won support from actor and “Star Trek” veteran William Shatner, whose recent tweet had him appealing to the Oxford Dictionary to include Levi’s “exciting word.”Actress Patricia Arquette has also tweeted her support, saying: “Such a cool idea.”Budd said he’s thrilled that people are talking about words, and that’s the most gratifying part of the levidrome experience so far.“I’ve got schools in Ottawa, and schools in Toronto and Calgary and libraries all getting in touch with me with their boards of palindromes and levidromes. And that’s actually what it’s all about. It’s really exciting.”His aim is to model initiative to his son by taking action on an idea.“If you have a good idea, go for it. You never know what’s going to happen. Whether it makes it into the dictionary or not, at this point the journey of just doing it and how many people have found inspiration is just amazing.”Levi, who was celebrating the loss of his first tooth on Monday, loves reading to his four-year-old sister Emma, who’s more into gymnastics and dancing than words, Budd said.He said his son is an extrovert who aims to be an actor though he’s too young to be directly in the spotlight to discuss his love of levidromes and the excitement that it has generated.“Most days when we go to school Levi walks by a crosswalk and the principal of the school stands there with a stop sign welcoming the kids. She always says to him, ‘You got any good levidromes for me today?’ The other day he said, ‘Yeah, I got stressed and desserts. And drawer and reward.’”Levi’s self-esteem has been boosted by kids who are also having fun flipping words and spreading the word on levidrome, Budd said.“Today he came up with orb from bro. I guess he saw me write bro to somebody.”— Follow @CamilleBains1 on Twitter.last_img read more

0

Over 2700 firearms collected in Toronto gun buyback

first_imgTORONTO (680 NEWS) – Toronto Police say they have collected more than 2,700 unwanted guns from residents through their buyback program.The three-week program offered people $200 for a long gun and $350 for a handgun.Police added it was the largest number of firearms collected through a gun buyback program in the city, with over 1,900 long guns handed in and over 800 handguns.The guns will be inspected to determine if they’ve been used in a crime, and people who hand them over to police will not face a charge for possessing or unsafely storing a firearm. All of the firearms will then be destroyed.The last buyback program occurred in 2008 when over 2,000 guns were turned in.At the beginning of the buyback, a Toronto Police inspector faced some lighthearted ridicule on social media for the age of some of the guns turned in so far.These are just some of the firearms turned in during the past 24 hrs as part of the #GunBuyBackTO to @TPS41Div alone. Call @TorontoPolice if you have a firearm(s) you no longer wish to have. pic.twitter.com/wqPSZFC24r— Paul MacIntyre (@InspMac) May 1, 2019While the guns may be old and the tweet attracted a large response, Insp. Paul MacIntyre replied saying it is still a positive step forward that they are no longer in people’s homes.Toronto Police Chief Mark Saunders said he was pleased with the amount of Torontonians who participated.“These guns can present a potential danger if they fall into the wrong hands,” he said. “Removing access to these guns, many of which are not securely stored, contributes to community safety.”The city funded the program with unanimous approval in council.Mayor John Tory said, “Every gun surrendered is one less gun in our community and one less gun potentially available to people who want to cause problems in our city.”Toronto recorded a record number of homicides last year, along with a major surge in gun-related crimes that saw police seize an unusually high number of handguns from city streets.Chief Saunders said in December that officers had recovered more than 500 handguns, 222 more than in 2017, and the number of homicides caused by shootings had gone up by nearly 30 per cent.last_img read more

0

WEEKEND ROUNDUP – APRIL 21 22 AND 23 2017

first_imgFAT 2017 LEAVE A REPLY Cancel replyLog in to leave a comment Facebook It was a busy weekend in Toronto.  In addition to cinema and theatrical shows, the weekend events consisted of the FAT Show (Fashion Art Toronto), The Toronto Screenwriting Conference, The Harry Jerome Awards, TIFF Kids Festival, The Toronto Monologue Slam and the 1-year anniversary of the Women In The Film Industry Network Meetup.Here are some pics from the weekend. TIFF KIDS 2017 TIFF KIDS 2017 TIFF KIDS 2017 TIFF KIDS 2017 TIFF KIDS 2017 TIFF KIDS 2017 TIFF KIDS 2017 TIFF KIDS 2017 TSC 2017 TSC 2017 (Photo by Carolyn Kennedy) TSC 2017 – Paul Haggis TSC 2017 TSC 2017 (Photo by Carolyn Kennedy) TSC 2017 – Paul Haggis FAT 2017 FAT 2017 FAT 2017 FAT 2017 FAT 2017 FAT 2017 HARRY JEROME AWARDS HARRY JEROME AWARDS Prime Minister Trudeau and wife Sophie arrive at the HARRY JEROME AWARDS Fabi Toronto Mayor John Tory at the HARRY JEROME AWARDS Toronto Monologue Slam Women in the Film Industry Advertisement Advertisement Login/Register With: Twitterlast_img read more

0

Imran Khan says Indo-Pak relations to remain tense till elections in India

first_imgIslamabad: Prime Minister Imran Khan has said Indo-Pak relations would remain tense till the general elections in India are over, adding he feared “another misadventure” by Pakistan’s eastern neighbour. Tensions between India and Pakistan escalated after the February 14 attack by Pakistan-based Jaish-e-Mohammed in Pulwama. Amid mounting outrage, the Indian Air Force carried out a counter-terror operation, hitting what it said was a JeM training camp in Balakot, deep inside Pakistan on February 26. The next day, Pakistan Air Force retaliated and downed a MiG-21 in an aerial combat and captured an Indian pilot, who was handed over to India later. Also Read – Saudi Crown Prince ‘snubbed’ Pak PM, recalled jet from USKhan said shadows of war were still hovering over Pakistan and India as Prime Minister Narendra Modi’s administration could go for “another misadventure” before the general elections. “The danger is not over. The situation will remain tense till forthcoming general elections in India. We are already prepared to avert any aggression from India,” Dawn quoted Khan as saying. Khan also claimed that he cancelled his scheduled meeting with the Taliban in Islamabad due to “concerns” expressed by the Afghan government. The Taliban last month said that its representatives would visit Islamabad to meet Prime Minister Khan on February 18. Media reports later suggested that the Taliban called off the meeting as most of the members of their negotiating team could not travel to Pakistan due to sanctions imposed on them by the US and the United Nations.last_img read more

0

EC seeks report on Supriyo’s remarks

first_imgKolkata: Babul Supriyo, outgoing BJP MP from Asansol, who is contesting from the same constituency in the ongoing Lok Sabha elections seemed to have made a habit of courting controversy every now and then ever since the notification of the elections has taken place.This time around, a serious allegation has surfaced against Supriyo who has allegedly abused two Trinamool Congress supporters and passed controversial remarks against the duo. The Election Commission has taken a strong exception to Supriyo’s comments and the way he behaved during his election rally on April 11. After the Election Commission received a specific complaint in this regard, the office of the Chief Electoral Officer (CEO) in the state has sought a report from the District Election Officer (DEO) of West Burdwan and also wanted to know what steps have been taken so far in this regard. The CEO office will go through the report submitted by the DEO and then decide what can be done in connection to the incident. Supriyo lost his cool during his election rally on Thursday morning when two local Trinamool Congress supporters protested against him for accusing his Trinamool Congress rival of running a syndicate with the coal mafias. The protest by the two individuals did not go down well with Supriyo and he soon engaged in a heated altercation with them. Supriyo’s wrath went to such an extent that he instructed his partymen to slap them. Following the incident, the two victims were heckled by the BJP activists in presence of Supriyo. It was also alleged that the outgoing MP told the BJP workers to throw them out. The incident triggered a political slugfest with the Trinamool Congress calling it a classic example of breaching the Model Code of Conduct (MCC). The incident occurred at Dhandadihi area of Andal when Supriyo was conducting a road show. The duo protested against Supriyo as he was accusing TMC of being involved in a syndicate operating out of coal mine areas. Supriyo, however, claimed that the TMC might have deployed the youths to disrupt his road show. As Supriyo was spewing venom against the TMC, the two supporters allegedly shouted the slogan ‘Chowkidar Chor Hain.’ The situation was brought under control following the intervention of the local residents. Supriyo triggered controversy in previous occasions as well. He sang and released a theme song for his party without the prior permission from the Election Commission. He went ahead and played the song during his election rallies despite a ban imposed by the EC. Eventually, he was forced to stop playing the song.last_img read more

0

Yogshala Expo 2019 wraps up

first_imgThe most awaited 4th edition of India’s largest Health and Wellness Exhibition ‘The Yogshala Expo 2019’ along with seventh edition of ‘Aarogya Sangoshthi’ and second edition of ‘The Grand Master of Yoga’ was organised by Namo Gange Trust at Pragati Maidan from May 10-12, 2019. Ministry of AYUSH, Government of India, was one of the major exhibitors in this expo along with several renowned organisations related to health and wellness industries.The Expo was inaugurated by Acharya Jagdish Ji Maharaj, Founder, Namo Gange Trust; Padma Bhushan Vaidya Devinder Triguna, President, Rashtriya Ayurveda Vidyapeeth, Government of India; Sandeep Marwah, Founder, Noida Film City, and Ramanand Meena, Deputy Secretary, Ministry of AYUSH. Indresh Kumar, RSS Leader and social activist also graced the event as the chief guest. The Yogshala Expo 2019 as the full spectrum of health and wellness showcased various products and services allied to AYUSH with over 100-150 exhibitors and more than 50 health and wellness activities including workshops, seminars, performances, and live contests. This expo was showcase for Yoga, Ayurveda, Naturopathy, Homeopathy, Herbal Therapy, Unani, Siddha, Organic Food and Herbal Cosmetic, Wellness Products in the national and international market. It was a golden opportunity for all Health experts, Consumers, Business Houses and Exporters to research and evaluate competition, develop commercial structures by identifying new ideas and initiatives, joint ventures and project partnerships. Dr Sandeep Marwah, Founder of Noida Film City; Padma Shri Bharat Bhushan, B.H.U. Chairman of Yamini Tripathi; and M D Subodh Tiwari of Kewalya Dham were present as the chief guest in the organised seminar on ‘Yoga and Neuropathy’. Padma Shri Bharat Bhushan said that the main purpose of this seminar was to maintain the integrity, concentration, tolerance within the people. “Fidelity concentration is just meditation. It can be cured by yoga and naturopathy, and today it is necessary for every person to take meditation and Naturopathy,” he added. In a three-day long ‘Grand Master of Yoga’ competition, 140 children participated. Young kids performed various yoga asanas and caught everybody’s attention. Also, ancient Indian medicine such as yoga and Ayurveda, Siddha, natural free medical camps for treatments like medicine, etc were also available. More than 100 companies associated with Yoga, Ayurveda, Health and Wellness participated.last_img read more

0

Man with paintball gun arrested at Lime Ridge Mall

Hamilton police took down a man inside Lime Ridge Mall Sunday morning.With recent terrorist threats to North American malls, police took the situation very seriously.Police say they received a number of calls around 11:20 a.m. from people saying there was a man dressed in all black with an assault rifle walking around the mall.The man was taken into custody at gunpoint.His weapon turned out to be a paintball gun.No one was injured in the incident.No charges have been laid because police say the man did not mean any harm he was simply going to a paintball game after stopping off at the mall. read more

0

JPMorgan Chase CEO says executives responsible for 2 billion loss may have

by News Staff Posted Jun 13, 2012 8:04 pm MDT JPMorgan Chase CEO says executives responsible for $2 billion loss may have pay seized by bank WASHINGTON – JPMorgan Chase CEO Jamie Dimon told Congress on Wednesday that senior bank executives responsible for a $2 billion trading loss will probably have some of their pay taken back by the company.Under bank policy, stock grants and bonuses can be recovered from executives, even for exercising bad judgment, Dimon told the Senate Banking Commitee. The policy has never been invoked, he said, but he strongly suggested that it will be.“It’s likely that there will be clawbacks,” he said.Among the most likely candidates would be Ina Drew, JPMorgan’s chief investment officer, who left the bank days after Dimon disclosed the loss on May 10. Drew oversaw the trading group responsible for the $2 billion loss.Dimon, under close questioning from lawmakers about his own role in setting up the investment division responsible for the mess, declared: “We made a mistake. I’m absolutely responsible. The buck stops with me.”The trading loss has raised concerns that the biggest banks still pose risks to the U.S. financial system, less than four years after the financial crisis erupted in the fall of 2008.Dimon’s reputation for cost cutting and his perceived mastery of risk, particularly during the crisis, earned him respect in Washington. JPMorgan Chase & Co. weathered the crisis with relatively little damage.At every turn before the committee, Dimon responded easily and in rapid-fire style to questions. He sounded notes of contrition — “We should have gotten it earlier” — but also defended the bank and his own criticism of some financial regulation.Other than a few critical jabs from a couple of Democratic senators, the panel’s treatment of Dimon was gentle compared to that received by other Wall Street executives in recent years on Capitol Hill.Lloyd Blankfein, the CEO of Goldman Sachs, was roughed up at a hearing by a Senate investigative panel looking into allegations that the firm steered investors toward mortgage securities it knew would likely fail.In December, former New Jersey Gov. Jon Corzine endured grueling questioning by three different committees over the collapse of the brokerage firm MF Global, which he had led as CEO.Those grillings came after a parade of financial titans were derided and questioned by congressional committees conducting autopsies of the financial crisis for the TV cameras.On Wednesday, Republican Sen. Jim DeMint told Dimon sympathetically that Congress manages to lose at least $2 billion every day. Referring to the bank, he said: “You appear to be in much better fiscal shape than we are as a country.”“The intent here is really not to sit in judgment,” the senator said.Far from crouching, Dimon appeared to strike a posture of a public advocate as the hearing ended. He urged Congress to act quickly to avoid the so-called fiscal cliff at the end of this year, when billions of dollars in tax cuts will expire and billions more in automatic government spending cuts will take effect.“I think we’d better do something now, so we don’t create additional uncertainty among businesses and consumers,” Dimon said.The start of the hearing was delayed by demonstrators in the room who shouted about stopping foreclosures. Another demonstrator shouted, “Jamie Dimon’s a crook.” At least a dozen people were escorted from the hearing room.Dimon appeared serene during the outbursts, which lasted several minutes. At another point before the questioning began, he gave a broad smile.The JPMorgan CEO contended that the trading loss, disclosed in a surprise conference call with reporters and banking analysts, was meant to hedge risk to the company and to protect it in case “things got really bad.”Two Democrats on the committee, Sens. Charles Schumer of New York and Robert Menendez of New Jersey, expressed concern about what would have happened if the trading loss had occurred at a weaker bank.JPMorgan Chase is the largest bank in the United States by assets and is considered among the strongest. Dimon often makes note of the bank’s “fortress balance sheet.”But Menendez hypothesized about a larger loss, perhaps $50 billion, that creates a run on the bank “and that ultimately becomes the collective responsibility of each and every American.”Menendez also challenged Dimon on his strenuous opposition to stricter financial regulation and noted that JPMorgan received a $20 billion taxpayer bailout loan at the depths of the 2008 crisis.Dimon last September described as “anti-American” new international standards stipulating banks hold larger cash cushions to protect against losses, which U.S. regulators also have proposed for U.S. banks.“You railed against us when we were in fact trying to pursue great capitalization of these banks,” Menendez said. And he reminded Dimon scoldingly: “It seems to me that the American people are a big part of helping to make your bank healthy.”Dimon insisted that his bank “did not fight everything” and that there are elements of tougher financial regulation that he does support.He skated a fine line in talking about his specific role in relation to the bank’s trading operation. Asked whether he personally approved the investment office’s trading strategy, Dimon said, “I was aware of it, but I didn’t approve it.”Republlican Sen. Bob Corker, who has received $10,000 since January 2011 from JPMorgan’s political action committee, the most any candidate has received from the bank, praised Dimon as one of the “best CEOs in the country for financial institutions.”Still, he wondered: “You missed this. It’s a blip on the radar screen. But are these institutions today just too complex to manage?”Sixteen of the 22 members of the banking panel, including Chairman Sen. Tim Johnson, a Democrat, and senior Republican Sen. Richard Shelby have received money from the bank’s political action committee, according to figures compiled by the Center for Responsive Politics.JPMorgan Chase’s stock price was flat at the start of trading, at 9:30 a.m., but began climbing steadily when the hearing began at 10 a.m. It finished the day up 1.6 per cent, the second-best performer among the 30 stocks in the Dow Jones industrial average, after Johnson & Johnson.The so-called Volcker rule, which goes into effect in July, will prevent banks from making certain trades for their own profit. Banks won an exemption to trade to protect their broad portfolios, as Dimon has said JPMorgan was doing in this case.Dimon told the committee, however, that “I have a hard time distinguishing it.” He allowed that “it’s possible” that the Volcker rule would have prevented the debacle at JPMorgan but said he didn’t know.The CEO said that JPMorgan adopted a strategy late last year to reduce risk, but it backfired in its investment operation by heightening risk instead. The bank has named a new leader for the investment operation that was responsible for the loss.A key regulator of JPMorgan, Thomas Curry, the U.S. comptroller of the currency, suggested last week that the bank lacked strong controls to contain risk in its investment operations.And The Wall Street Journal reported Tuesday that some senior JPMorgan executives, including the chief financial officer and chief risk officer, were told about risky trading in London two years before the losses came to light.Dimon himself knew of some of the trades and sometimes spoke with the traders involved, the Journal reported, citing unnamed people familiar with the matter.The Securities and Exchange Commission is reviewing what JPMorgan told investors about its finances and the risks it took before the loss.In April, in a conference call with analysts, Dimon dismissed concerns about the bank’s trading as a “tempest in a teapot.” Later, adopting a more conciliatory stance, he conceded that he’d been “dead wrong” to minimize those concerns. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email read more

0

Mens Basketball Ohio State sets tone after win against Cincinnati

Ohio State senior guard C.J. Jackson (3) sizes up his defender during the second half of the game against UNC Pembroke on Nov. 1. Ohio State won 81-63. Credit: Amal Saeed | Assistant Photo EditorChris Holtmann has never been one to shy away from big non-conference games. In his time as head coach at Butler, he helped schedule matchups against the perennial college basketball powerhouses. Opponents that would test his teams. Test the resiliency of his roster. Holtmann brought those same ideas with him to Ohio State. When gaining control of the schedule, the second-year head coach planned a home-and-home with Cincinnati, the first time Ohio State has played the Bearcats within state borders since 1920. With the weight of the series history between the Bearcats and the Buckeyes, with the weight of the recruiting implications, Holtmann used this opportunity to test his team like he tested Butler. And Ohio State lived up to the first test, defeating Cincinnati 64-56 on Wednesday, starting the season with a road win in an environment. To senior guard C.J. Jackson, it’s just the kind of person Holtmann is: a resilient and work-hard personality that Ohio State molded into as he built his program. “Once he kind of got his hands on this team, it was so new,” Jackson said. “Last year’s team was kind of established, we were all from kind of another coaching staff, so this team is basically kind of his team, so we all just took after him and that win has a lot to do with coach Holtmann.” Sophomore forward Kaleb Wesson knew what was coming first. As the freshmen and the new members of the program became acclimated with Ohio State, this Cincinnati game had been circled on the calendar for months. It was the first opportunity for the Buckeyes to show what they had without the reigning Big Ten Player of the Year and without their emotional leader. This was a mentality that Wesson felt as Ohio State neared the first game of the season. “Nobody respects us like they did last year,” Wesson said. “So, I tell everybody just get real disrespectful in your preparations.”  Ohio State came out for its first game of the season already with a chip on its shoulder. For Holtmann’s team, he said the main priority, especially for an unproven team such as this one, is to make an impact defensively, something the Buckeyes showed Wednesday night. The Buckeyes allowed Cincinnati to shoot 27.4 percent from the field, with the Bearcats making 6-of-26 from behind the 3-point line. Even with the announcement of the transfer of junior forward Micah Potter, Wesson and sophomore forward Kyle Young stepped up, both starting at forward with Young backing up Wesson at the center spot, the spot Potter would have had. Wesson and Young combined for 15 of Ohio State’s 33 rebounds. It also gave an opportunity for the new players to show what they could do in a Buckeye uniform. Wesson said a game like this is a good opportunity for the younger players to get a chance to see what this level of play is all about, setting the tone for the remainder of the season. “I feel like having it early for the young guys, they see what college basketball is about, how tough it is, how the trenches are,” Wesson said. And that’s the point. That’s the point of the tough schedule to start the season for Holtmann and his Ohio State team. To test his players early. To see what their flaws are, to see what needs to improve prior to Big Ten play, prior to when important games become more of a reality. Resiliency is something teams don’t normally form after the first game of the season. But it’s something Jackson sees from his teammates day one. “I think we found out what type of guys we got. It’s guys that really care. We can’t really go wrong,” Jackson said. “Everybody is going to make mistakes. It’s a long game and it’s new. We are a new team. New faces. So as long as they give their all, you can’t really ask for anything else.” read more

0

FactCheck Does this years Budget include the biggest ever investment in health

first_imgTheJournal.ie’s FactCheck is a signatory to the International Fact-Checking Network’s Code of Principles. You can read it here.For information on how FactCheck works, what the verdicts mean, and how you can take part, check out our Reader’s Guide here.  http://jrnl.ie/3032121 Find more FactChecks here Share3 Tweet Email By Dan MacGuill FactCheck: Does this year’s Budget include the biggest ever investment in health? Questions surrounded one of the government’s biggest talking points from the Budget. FactCheck gets to the truth. 12 Comments Tweet thisShare on FacebookEmail this article Updated: 5 NovemberONE OF THE government’s biggest talking points in the aftermath of last month’s Budget announcement was the claim that they had just made the biggest investment in health in Irish history.Public Expenditure Minister Paschal Donohoe said it during his Dáil speech, Health Minister Simon Harris said it during a post-Budget press conference, and Taoiseach Enda Kenny repeated the claim in the Dáil later on.But is it true?(Send your FactCheck requests to factcheck@thejournal.ie, tweet @TJ_FactCheck, or send us a DM).Claim: Budget 2017 includes the biggest ever investment in healthVerdict: TRUEWhat was said: Source: TheJournal.ie/YouTubeYou can see excerpts of government ministers reiterating the claim, in the video above.In his Dáil speech on Budget Day, Paschal Donohoe described the health budget as “the highest ever level of health funding in the history of our country”.At a press conference that evening, Simon Harris said:center_img Nov 5th 2016, 6:10 AM 9,232 Views Saturday 5 Nov 2016, 6:10 AM Short URL This is the single biggest exchequer investment in health, ever, when you take it on a like-for-like basis.And later in the month, Taoiseach Enda Kenny told the Dáil the €14.6 billion in gross spending in the budget was the “highest ever allocated to the health portfolio”.At the post-Budget press conference, however, Sunday Business Post health correspondent Susan Mitchell questioned the claim, and correctly pointed out that gross expenditure was actually higher in 2008 and 2009.THE FACTS Health Minister Simon Harris outside government buildings on Budget Day Source: Sam Boal/RollingNews.ieIn response to our request for evidence, the Department of Health sent us a detailed breakdown of health spending from 2008 to the present day.It should also be noted that, between the HSE and the Department of Health, it took more than three weeks for the relevant figures to be provided and clarified.This issue gets a bit complicated, so we’re going to try to keep it as simple as possible, but for details, you can download a spreadsheet with all the data, below.Annual government spending is, in short, categorised into “groups”. In the Department of Public Expenditure’s Databank, health spending is (as you may have guessed) included in the “Health” group.This is total health group spending between 1994 and 2017. Obviously, the 2017 figures are not for spending, but rather spending allocation, taken from this Budget document. Source: For a full-size version of this chart, click hereYou can see the problem.Gross spending in the health group was higher between 2007 and 2010, than the allocation for 2017.Exclusions and AdjustmentsRound 1In previous years, certain spending was included in the Health group, which is no longer included in it, and has since been transferred to other government departments, and therefore other spending groups.The first two items are the Office of the Minister for Children and the Child and Family Agency, which since 2014 have been transferred over from the HSE to the Children and Youth Affairs spending group.The third is the Domiciliary Care Allowance, which was included in HSE spending from 2005-2010, but has since moved to the Department of Social Protection group.So spending that in previous years was included in the Health group, is no longer there, and the Department argued – quite reasonably – that the figures should be adjusted to account for this.Let’s see how health spending looks, if we exclude the Office of the Minister for Children, the Child and Family Agency, and the Domiciliary Care Allowance from all years, and only count the HSE and the Department of Health.(Note: Despite repeated requests over the course of more than two weeks, the HSE did not provide figures for the Child and Family Agency for 2005-2007). Source: For a full-size version of this chart, click hereAs you can see, health funding was higher in 2008 and 2009 than the allocation for 2017, even when we make these exclusions.Round 2However, the Department of Health argues that further spending should be removed from previous years, because it too has since been removed from the Health budget.This gets quite complicated, but here it is:Before 2015, the HSE got a separate section (known as a “vote”) in Health group spending. Included in gross HSE spending were certain sources of income known as “appropriations-in-aid”.These were counted as part of gross spending, and are sources of funding that the HSE generates directly for itself, rather than being given to the HSE from the exchequer – which is like the central government current account.These are items like pension levy deductions from HSE staff, hospital charges, and so on.Since 2015, the HSE no longer has its own section in the Health group.And since then, some of these funding sources (appropriations-in-aid) are no longer reported as part of overall gross health spending, although they continue to exist.So this type of funding has been present every year since the HSE was set up 2004, but from 2015 to 2017, they’re not being reported as part of gross health spending.Therefore, the Department of Health argues, quite reasonably, that you have to exclude this funding from previous years, in order to make a fair comparison.Let’s take 2007-2017 (since years before this are not even close to the current level of spending). Source: For a full-size version of this chart, click hereFinally, we’re going to something that the Department of Health for some reason did not do – adjust for inflation.This is essential for a proper, meaningful comparison of figures across years.Here are the figures, adjusted for inflation using the CSO’s inflation calculator set to September 2016. Source: For a full-size version of this chart, click hereAs you can see, after all the necessary and reasonable exclusions and adjustments, it is the case that the Budget 2017 investment in health is, in fact, the biggest ever, though not by all that much.At €14,606,552,000, it is €215.6 million higher than the second-highest investment, which was (adjusted for inflation) €14,390,990,110 in 2009.No year before 2007 came close to next year’s budget, even after inflation, so we’ve excluded them from this chart.Also, the figure for 2007 includes funding for the Child and Family Agency. Despite our requests, the HSE did not provide the amount of this funding, but the result is that the €14.2 billion in 2007 slightly overstates the case.It is worth noting that we are comparing the budget for 2017, and estimates for 2016, with actual spending in years previous to that.It is possible that actual spending in 2017 may turn out to be lower than expected, but this is unlikely, since health spending is usually higher than budgeted for, not lower.We rate the claim TRUE.Population changeThis doesn’t effect the verdict, because the claim related to the overall spending allocation for health in the budget, but it’s important to be aware of the role of changes in the Irish population in analysing this.Firstly, here’s health spending per person from 2007-2017, based on the CSO’s annual population estimates, and the Department of Health’s own projections for 2017 (pg 74). Source: For a full-size version of this chart, click here Follow TJ_FactCheck on Twitter Based on these figures, it would appear that while the overall health budget (the subject of the government’s claim) is higher than ever, per capita spending is not at the level of previous years.To download a spreadsheet containing all the relevant data, click here.Update: This article has been revised to add an analysis of population change and per capita spending. Originally published: 4 Novemberlast_img read more

0

St Andrews hosts visiting Greek theologian

first_imgThis Wednesday, Professor Georgios Mantzarides, Emeritus Professor of the School of Theology at the Aristotelian University of Thessaloniki, will give a keynote speech in St Andrew’s College Patristic Symposium 2010. I’ve read his books, and now I’m wanting to meet the man.St Andrew’s College Registrar Dr Philip Kariatlis said he is looking forward to hearing what Professor Mantzarides has to say in his speech, ‘Knowledge of the Human Person and God According to St Gregory the Theologian.’ “I’ve read his books, and now I’m wanting to meet the man,” Dr Kariatlis said. Professor Mantzarides has written several books, including Time and Man, and The Deification of Man: St. Gregory Palamas and the Orthodox Tradition. “He’s dedicated his life to the Fathers,” Dr Kariatlis said. Dr Kariatlis said the speech will be delivered in Greek, but a translation will be available up on the screen simultaneously, so it will be accessible to a broad Sydney audience. He said they’re expecting around 100 people, including members of the college as well as the wider theological community. “This theological college is a member of the Sydney College of Divinity, so all of the other colleges know about it,” he said. The speech will also be available online after the event, as will all speeches in St Andrew’s second annual Patristic Symposium. The symposium runs every Wednesday until October 6, featuring a series of six lectures dedicated to a common Saint. This year’s focus is on St Gregory, whom Dr Kariatlis said is one of the more well-known Saints in the church. “He was a fourth century father, who played a decisive role in articulating our doctrine of God in the Father, the Son and the Holy Spirit, and his doctrine remains decisive to this day,” Dr Kariatlis said. One of only three Saints named ‘The Theologian,’ St Gregory is understood by scholars through a long poem he wrote about his own life. Dr Kariatlis said St Gregory’s poem is painfully honest, detailing the deaths of his brother and close friend, and finally asking, “Is God asleep?” He said St Gregory remains one of the most relevant and interesting Saints because he questioned the existence of God. “The beauty is, here is a Saint, yet he’s not shying away from how he feels, so it’s something we can relate to and take courage and strength,” he said. Wednesday, September 22 at 7pm, 242 Cleveland Street, Redfern, in the Main Hall. For enquiries, contact the Registrar on (02) 9549 3100. For audio of all speeches go to http://www.sagotc.edu.au/downloads Facebook Twitter: @NeosKosmos Instagramlast_img read more

0

Hunger striker enters 31st day of protest

first_img Facebook Twitter: @NeosKosmos Instagram There is increasing concern for the health of a 29-year-old man who has completed a month on hunger strike in protest at being imprisoned without trial for over two and a half years. Kostas Sakkas, who started his protest on June 4, has been in hospitalised since June 17 at Nikea general hospital, following his transfer from Korydallos prison in Piraeus. On Thursday, he entered his 31st day on a full hunger strike, during which he has refused all food, including sugared water. On 4 December 2010, Sakkas, who states that he is an anarchist, was arrested, along with another man, in the Athens suburb of Nea Smyrni, while leaving a rented warehouse where arms were being stored. He was subsequently charged with membership of an unknown terrorist organisation and aggravated possession of a firearm. He has been kept on remand since, with the authorities renewing his pretrial detention period twice. Firstly, in the summer of 2012 for an additional year, when the legal maximum of one and a half years was completed. Last month, an appeals court extended his remand for another six months, a move his lawyers say is illegal as exceeds the maximum amount of time a person can be kept in pretrial custody. His lawyer, Marina Daliani, has said that “only solution is to resort to the European Court of Human Rights”. The decision to extend his remand resulted in Sakkas acting on his warning that he would go on hunger strike in protest. He is demanding his immediate release. Additional charges During his incarceration, he was subsequently charged – twice – with membership of the Fire Cells Conspiracy (SPF) group, although he and the group have insisted that this is not the case. He says that his name doesn’t appear once in the case file involving the Fire Cells Conspiracy charges. Sakkas accepts that he has been active politically as an anarchist, which is not a criminal activity in itself. “Since the beginning, I have admitted my connection with this place as well as the weapons found there. I have stated, since the first moment, that I am an anarchist and that my presence in this specific place was related to my political identity and the choices I make as a consequence of this,” he wrote from his prison cell on May 29. “I have clarified in the past – as the SPF did for their part – that I’m not a member of this organisation. I didn’t do this to avoid the vengeful, punitive odyssey that the bourgeois justice reserves for all those accused of being members of that organisation, but simply because that’s how it is. I ought to set the history straight; not only for me but also for the SPF.” Concerns A doctor who examined Sakkas on June 28 said he had lost 13kg in weight. Medical colleagues said Sakkas’ vital organs face irreparable damage and was in danger of sufferng a heart attack. On Wednesday, the justice minister, Haralambos Athanassiou, told a delegation of Syriza MPs who approached him about Sakkas’ case, that “the Greek justice system will exercise due caution, as it does in other cases”. The length of Sakkas’ remand has also been condemned by the Thesssaloniki bar association as a violation of the constitution and the penal code. In a comments made recently to Elefterotypia, two lawyers raised their concerns about Sakkas’ treatment at the hands of the state. Constitutional lawyer Yiorgos Katrougalos referred to it as a “grave attack on the rule of law” while Dimitris Katsaris, a lawyer, described it as an “abuse of power, misconduct and moral restraint contrary to the constitution”. Source: EnetEnglishlast_img read more

0

Free admission at three museums Saturday

first_imgThe annual Museum Day Live! hosted by Smithsonian magazine is Saturday. That means participating museums across the country offer free admission to visitors.In the spirit of Smithsonian Museums, which offer free admission daily, museums offer free admission for two people for every Museum Day Live! ticket presented at the door.Only an official Museum Day Live! ticket is eligible for free entry. Official tickets can be downloaded and printed from the Museum Day Live! Website: Smithsonian.com.Household are limited to one two-person ticket each. A ticket will gain entry to only one of the participating museums.In Clark County, participating museums are:• Clark County Historical Museum, 1511 Main St., 11 a.m. to 4 p.m., 360-993-5679.• Pearson Air Museum, 1115 E. Fifth St., 10 a.m. to 5 p.m., 360-694-7026.• Two Rivers Heritage Museum, 1 Durgan St., Washougal, 11 a.m. to 3 p.m., 360-835-8742.last_img read more

0

DX to face legal action over minimum wage and holiday pay

first_imgMail and parcel delivery organisation DX is to face legal action over the entitlement of its delivery drivers to employment rights, such as being paid the national minimum wage and holiday pay.The legal claim, which is being brought to employment tribunal by law firm Leigh Day, argues that drivers are not self-employed contractors but workers, and that they should therefore be entitled to receive employment rights. This would include being paid holiday pay and the national minimum wage.The legal action is being brought on behalf of six DX drivers, and is supported by the GMB trade union.The employment status issues were submitted to Acas, the workplace conciliation service, in March 2017, however an outcome was not reached.Michael Newman, partner in the employment team at Leigh Day, said: “We believe that gig economy employers such as DX are trying to avoid their legal responsibilities by dressing up relations with their workers as self-employment. We intend to challenge this through the courts on behalf of those workers who are losing out.“The gig economy refers to [organisations] operating a system where temporary positions are common and an attempt is made to label those working on short-term engagements as independent contractors. This practice can allow both the [organisation] and the individual more flexibility in the way they carry out their work. However, this flexibility is often used as an excuse to deny individuals security and basic workers’ rights.”Justin Bowden, national secretary at GMB, added: “It is high time that gig economy employers like DX stepped up to their responsibilities for those who put in the hours for them. GMB will continue to challenge this shameful practice wherever we can. Multi-million pound employers need to realise that they cannot continue to avoid basic workers’ rights.”DX had not provided a response to a request for comment at the time of publication.last_img read more

0

Starship Robots Will Deliver Pizza for Dominos

first_imgMarch 29, 2017 How Success Happens Listen Now 2 min read This story originally appeared on PCMag Starship Technologies decided to bypass many of the hurdles associated with drone delivery by air by opting to invest in ground based delivery robots, too. And in January, those autonomous robots started carrying out deliveries for DoorDash and Postmates in the U.S. Starship’s latest partnership is all about delivering freshly made pizza.Domino’s and Starship are collaborating to allow Starship’s six-wheeled robots to start delivering pizza across German and Dutch cities. The delivery network will be limited to begin with, focusing on selected stores and only carrying out deliveries within a one mile radius. Don Meij, Domino’s Group CEO and managing director, views the partnership as, “an important next step in bringing robot pizza deliveries to reality.”So important is robot deliveries to Domino’s the company setup a dedicated division called DRU (Domino’s Robotic Unit). DRU will oversee the Starship partnership, which if successful, is likely to expand rapidly across the company’s more than 2,000 stores worldwide. Meij believes Domino’s needs robots because, “with our growth plans over the next five to 10 years, we simply won’t have enough delivery drivers.”Starship’s robots are designed to carry out deliveries up to two miles away with a travel time of up to 30 minutes. With that in mind, it should be easy for Domino’s to double the delivery range around each store if the robots prove successful. It’s also not the only drone delivery Domino’s is experimenting with. You may remember last year pizza was being delivered by air in New Zealand. Hear from Polar Explorers, ultra marathoners, authors, artists and a range of other unique personalities to better understand the traits that make excellence possible.last_img read more

0

Dont use Microsofts Security Update Guide yet

first_imgDon’t use Microsoft’s Security Update Guide (yet) by Martin Brinkmann on March 16, 2017 in Companies, Microsoft – Last Update: January 04, 2018 – 24 commentsMicrosoft announced a while ago that it plans to do away with the two-decade old security bulletin release scheme, and switch over to the Security Update Guide service instead for update information.Planned for February 2017 initially, the change was postponed. We don’t know why, but the postponing of security update releases for Windows and other Microsoft products in February may have had something to do with it.In March 2017, Microsoft released security bulletins as if the previous announcement never happened. Coincidentally, we don’t know why Microsoft postponed the February Patch day, the company never stated why.Security Update Guide issuesThe Security Update Guide will be the place to go for security update information in the future. There is little doubt that Microsoft will still go ahead with the planned change.If you open the Security Update Guide right now, you will notice that it is already live. It lists release notes for February and March, and security updates that date back to mid-February 2017.The site looks fine on first glance. You can filter the listing by date, product, severity, impact, or KB ID for instance, and also search in the results again.If you look closely however, you will notice that Microsoft does not list all security updates there for a given operating system or product.Take the recently released security update for Microsoft Internet Explorer, KB4012204 for instance. The bulletin lists KB4012204 for Internet Explorer 9, 10 and 11.If you check the Security Update Guide, you will notice that Internet Explorer 10 and 11 are not listed there. If you search for the KB ID, you only get the listing for Internet Explorer 9 (which means Vista and Server 2008).If you download security updates manually, you may miss out on this important Internet Explorer update as it is not included in the monthly security only update release for Windows 7, 8.1, 10, and the server versions.As Woody notes, the Internet Explorer update is also not listed on the cumulative update history page for Windows 7 and Windows Server 2008 R2, nor for Windows 8.1 and Windows Server 2012, 2012R2.The question is, how do you know about future updates that are released that are not mentioned by Microsoft in key locations?This is not a problem for systems that are updated through Windows Update. The Internet Explorer patch is delivered along with other security updates in this case.If you happen to install updates manually for Windows however, you may miss out on pages due to oversights by Microsoft.In case you are wondering, the updates are listed on the Microsoft Update Catalog. The information that you need to install 4012204 is also listed on the KB4012213 KB4012212 KB4012215 KB4012216 pages of the security only quality update release.Still, the fact that the information is missing on the Security Update Guide listing is a blunder by Microsoft that the company should address quickly. If it is intended to be your one-stop shop for all things security updates, it has to list them all.Now You: How would you like Microsoft to handle update information? SummaryArticle NameDon’t use Microsoft’s Security Update Guide (yet)DescriptionMicrosoft announced a while ago that it plans to do away with security bulletin releases, and switch over to the Security Update Guide service instead.Author Martin BrinkmannPublisher Ghacks Technology NewsLogo Advertisementlast_img read more

0

Discover these Top Five North American Island Escapes with Collette

first_imgDiscover these Top Five North American Island Escapes with ColletteDiscover these Top Five North American Island Escapes with ColletteVery few travellers think of North America as an island escape destination, but Collette has announced its top five picks to surprise and enchant travellers and show them that when it comes to the perfect guided holiday, there is an ocean of possibilities.Ideal for the first and second time visitor, these islands include some destinations made famous by films and television shows, as well as being popular holiday spots for American Presidents.Collette is a family-owned business established in the USA with 100 years of experience in crafting holidays around the world, and in particular, in North America. A regional specialist, the company’s tours include visits to lesser known parts of the US which feature pristine, wildlife-abundant islands which are not well-known outside of North America.1.     Islands of Martha’s Vineyard and NantucketFrom exploring exquisite coastline to marvelling at mansions, Collette’s Islands of New England tour has something for every traveller. Guests on this 7-day itinerary will have the chance to walk in the footsteps of America’s Presidents, artists, writers and celebrities with a ferry ride to famous Martha’s Vineyard. On this beautiful island, a local guide will show guests the highlights of the Vineyard, including quaint gingerbread-styled cottages and the old whaling port. Cruising back to Cape Cod, travellers will indulge in a traditional New England seafood and lobster feast.In Cape Cod Bay, guests can choose between a whale watching cruise or a scenic adventure through the iconic sand dunes of the Cape. Next on the itinerary is a panoramic ferry ride to the idyllic island of Nantucket, where picturesque beaches and lighthouses await.Other highlights of this tour include the chance to explore Providence, “America’s Renaissance City”, with its prestigious Brown University and vibrant cultural scene, a trip down Ocean Drive to mansion-lined Bellevue Avenue, and leisure time in Boston to wander the Freedom Trail.2.     Bay of IslandsNature lovers will be in their element with Collette’s 12-day Newfoundland and Labrador Discovery tour.  Exploring Canada’s Bay of Islands, Collette will offer guests on this tour the chance to visit the stunning Butterfly House where they can admire thousands of diverse and vibrantly-hued butterflies, and take a scenic cruise of Witless Bay Ecological Reserve. Here, travellers will be joined by a local specialist who will give a talk on the spectacular marine life in the region, featuring wildlife encounters with majestic humpback and minke whales, as well as some adorable puffins.After meandering the quaint fishing and coastal villages of Clarenville, travellers will explore Tableland Mountains in Gros Morne National Park and uncover hidden fjords, stark peaks and highland tundras.This tour also offers travellers ferry rides across the Straits of Belle Isle and around the pristine waters of Newfoundland and Labrador, with visits to the UNESCO World Heritage site of Red Bay and a stop at the Bay of Islands on the way to idyllic Lark Harbour.Culinary highlights of the tour include a traditional Newfoundland gathering known as a “Jiggs dinner” in Twillingate, a Newfoundland “Screech-In” ceremony that includes a shot of rum, followed by a dinner overlooking the Gulf of St. Lawrence and later in the tour, a visit to an economuseum to learn how to make jams, sauces and vinegars out of the local partridgeberry and bakeapple.3.     Cape Breton Island, Prince Edward Island, Oak IslandCollette’s 11-day Maritime Coastal Wonders tour begins in Halifax, the capital of Nova Scotia province coined ‘Canada’s Maritimes’, celebrated for its rugged and pristine beauty and fun-loving Acadian and Gaelic culture. In Peggy Cove, travellers will visit historic lighthouses overlooking the vast Atlantic Ocean, before embarking on a charming tour of the Halifax waterfront featuring the Public Gardens, Spring Garden Road and the Victorian-Era fortress, the Halifax Citadel.Travellers on this tour will trek the craggy Cabot Trail and take a ferry ride to the ‘Land Cradled on the Waves’ and the filming location for Netflix’s Anne with an E; Prince Edward Island. Here, guests can reignite their own sense of adventure and imagination, journeying along the sea-sprayed shoreline and visiting the Anne of Green Gables Museum. After a day of exploring, guests will arrive at the Hopewell Rocks and savour a traditional Maritimes’ lobster feast.Maritime history aficionados will be in paradise as they head down the striking Lighthouse Route, board a fishing boat at the Fisheries Museum of the Atlantic and learn to shuck scallops. Taking in views of stunning Cape Breton Island and Oak Island, guests on this tour will uncover the magic and wonder of this spectacular seafaring destination.Maritimes Coastal Wonders featuring the Cabot Trail4.     Mackinac Island  After three nights getting familiar with ‘the Windy City’ of Chicago, travellers board a ferry to Mackinac Island; a place where the neighs and clip-clops of horses replace the roar of engines and the accommodation is two nights nestled in the glorious Victorian-era Grand Hotel. A National Historic Landmark, Mackinac Island is a wooded paradise accented with limestone formations, all set against the picture-perfect Lake Huron.Travellers will experience a horse-drawn carriage ride for a tour of the island that includes stops at the Surrey Hills Carriage Museum and Arch Rock. There is ample time for guests to stroll around the island at their leisure and enjoy the brilliant views, visit the downtown shops and buy some delicious fudge – a specialty of Mackinac Island. Later, a menu of tasty delicacies awaits with a dinner at the elegant Salle à Manger dining room, featuring exquisite chamber music played by the Grand Hotel’s orchestra.Mackinac Island is a must-see for history-buffs and those interested in anthropology. Archaeologists have carried out excavations at sites on the island since the 1960s. These digs have revealed traditional fish hooks, pottery and other artefacts which tell the story of the island’s earliest Native American inhabitants, the Anishinaabe, who consider it to be home to the Gitche Manitou – the “Great Spirit”. The Island was a significant spiritual gathering place for the local tribes where their offerings were made to the Gitche Manitou, and it became the burial place of tribal chiefs.5.       Jekyll Island and St. Simons IslandCollette’s 7-day Southern Charm itinerary offers travellers a window into the past, with the chance to soak up some Southern hospitality in Georgia and South Carolina.The tour begins in Charleston, known as the ‘Holy City’ – a place which has survived the Civil War, major fires and natural disasters including an earthquake and hurricanes, and still exudes old-world elegance. A guide will escort guests along Charleston’s cobblestone streets, lined with stately, historic homes and restored buildings – some built before the Revolution.Next up is a trip to the exclusive Jekyll Island Club Hotel, grandly situated in the midst of the fabled Golden Isles – former winter retreat of prominent Gilded Age families like the Rockefellers and the Vanderbilts. St. Simons Island offers travellers views of its strikingly tall lighthouse, a visit to the Museum of Coastal History and leisure time to wander the unspoiled Georgian coastline of marshlands, winding rivers and beaches to historic Savannah.Other key highlights include a visit to one of America’s oldest working plantations, Boone Hall Plantation, or the Patriots Point Naval & Maritime Museum and a cooking demonstration featuring regional specialties in Savannah.For details of the full tours or to book a trip:Contact your local travel agentCall Collette on 1300 792 195 or visit www.gocollette.com About ColletteTouring for today’s traveller…Featuring the luxurious Collette Chauffeur return airport transfer service, award-winning tour managers, and superior accommodation, Collette has been a pioneer in guided touring since 1918.With classic tours, small groups, river cruises and ‘spotlight’ city stays, there are over 150 tours which go to more than 55 countries offering customers exceptional choice, value and superior 4 star+ quality.Collette is a third-generation, family-owned worldwide tour operator. With headquarters in Rhode Island, Collette’s Sydney office (opened in 2014) adds to the company’s global presence which includes offices in Vancouver, Toronto and London.Renowned for connecting guests with cultural experiences which go far beyond those of an ordinary holiday, Collette prides itself on providing real value to its guests and agent partners.Expert tour managers, an industry-leading travel protection plan and inclusive touring are just part of the top-quality Collette experience.Private Chauffeur ServiceCollette’s private chauffeur service is included on all Collette tours for customers within 40km of an Australian international airport. For more information visit gocollette.com/chauffeurSource = Collettelast_img read more

0

MTDC to strengthen Student Exchange programmes between India and Japan

first_imgOn the second day of the tour in the Wakayama Prefecture in Japan, Tourism Minister of Maharashtra, Jaykumar Rawal was welcomed by the Mayor of Tanabe City Mitsutoshi Manago to visit Tanabe City.The Tourism Minister along with the Maharashtra Tourism Development Corporation (MTDC) team visited The Toyo Junior High School where the school children made an excellent presentation on the World Heritage sites in Japan. MTDC also introduced children to various destinations, festivals and food culture in Maharashtra.Jaykumar Rawal, stated, “Our discussion with the Mayor focussed on several issues among the proposal by the President of Municipal Council, Dondaicha for sister city relationship with Tanabe City. We were overwhelmed with the efforts put in by the students of Toyo Junior High School and we look forward to continuing cultural, tourism and other bilateral exchanges through student exchange programs between Tanabe and Dondaicha.”Toyo Junior High School Principal Satake appreciated the efforts put by MTDC and promised to strengthen the ties further through the student exchange programmes.Managing Director, MTDC, Dr K H Govinda Raj in his address to the Toyo Junior High School committee emphasised on the endeavours made by the students in presenting the show and that too in English and appreciated the efforts one has to make in mastering a foreign language like English, both to the Japanese and Indians.last_img read more

0

Fannie Mae Freddie Mac Q2 Earnings Reach 88 Billion

first_img October 5, 2015 728 Views The combined second quarter 2015 earnings of Fannie Mae and Freddie Mac increased $2.4 billion from the first quarter to a total of $8.8 billion, according to the Quarterly Performance Report of the Housing GSEs from the Federal Housing Finance Agency (FHFA).FHFA says the major drivers of the increase were net interest income and gains on derivatives as increases in swap rates contributed to earnings. The report also added that “earnings during the quarter also benefited from rising house prices, combined with the continued decline in the number of delinquent loans guaranteed by the Enterprises.”The Enterprises also reported a combined $5.6 billion gain on derivatives in the second quarter, mostly due to an increase in medium- and longer-term swap rates.The report also showed credit quality of new single-family business remained high during the first six months of 2015. The weighted average credit score was 750 for Fannie Mae and 751 for Freddie Mac, up from 744 reported for both Enterprises in 2014.In addition, the average loan-to-value ratio for new business declined at both Fannie Mae and Freddie Mac as refinances outweighed purchase-mortgage originations.Refinances made up 61 percent of  single-family new business volume at Fannie Mae and 63 percent at Freddie Mac. Meanwhile, HARP volume was steady at 31,600 refinances for the first and second quarter of 2015.The Enterprises and Ginnie Mae accounted for $258 billion or 67 percent of mortgage-backed security issuance volume in the second quarter, up from $207 billion recorded in the first quarter.FHFA also issued a conservator’s update on Fannie Mae and Freddie Mac, noting that by the end of 2007, the Enterprises had $71 billion of combined capital. However, the Enterprises have $254 billion in combined charges against capital from 2007 to the second quarter of 2015.To put this into perspective, the Treasury must support $187.5 billion of these charges through the Senior Preferred Stock Purchase Agreements.The Federal Home Loan Bank (FHLBank) System reported a total net income of $669 billion in the second quarter of 2015, down $355 million from $1.023 billion in the first quarter.”Net income was primarily lower due to lower net interest income and higher operating expenses related to the [FHLBanks of Seattle and Des Moines] merger,” the FHFA said. Share Fannie Mae & Freddie Mac Q2 Earnings Reach $8.8 Billion Click here to view the full report. Fannie Mae FHLBanks Freddie Mac Q2 Net Income 2015-10-05 Staff Writer in Daily Dose, Data, Government, Headlines, Newslast_img read more

1 2 3 8