Is your credit union board financially literate?

first_img continue reading » April is National Financial Literacy month, a month devoted to highlighting the importance of financial literacy and teaching us how to establish and maintain healthy financial habits. This is also a good time to implement a training program that will ensure financial literacy of your Credit Union’s Board of Directors.Financial Literacy is one of many responsibilities tasked to the Board Members, under Section b- NCUA Rules & Regulations 701.4, General authorities and duties of Federal credit union directors. Some state chartered credit unions have similar requirements in place under their state laws. This rule clarifies the fiduciary duties and responsibilities for Federal credit union directors:b. Duties of Federal credit union directorsCarry out duties in good faithAdminister affairs fairly and impartiallyWithin a reasonable time (not to exceed six months) have familiarity with basic financial and accounting practices;Ability to read and understand balance sheet and income statementsAbility to ask appropriate questions 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Disneyland still closed in California, dragging on Disney earnings

first_imgThe other 50% included the greater Orange County area as well as Los Angeles, where Universal Studios is located, and day trips to San Diego.Without the tourism boost from Disney’s parks, Karmel Shuttle Service’s revenue is down more than 95%, Afram said.As it stands, theme parks in California will remain shuttered well into 2021, as state guidelines prohibit reopening until coronavirus cases in counties fall below one per 100,000 — a target that will be difficult to achieve as cases soar throughout the country. This prolonged closure will be a massive drag on Disney’s earnings for quarters to come and exacerbate the financial difficulties that local businesses are facing during the pandemic.Thousands of jobs at risk- Advertisement – While Disney has been able to reopen in Florida, Shanghai, Japan and Hong Kong with limited capacity, its Paris theme park was closed in late October amid a resurgance of Covid-19 cases and will not reopen until 2021.With its California parks unable to open, Disney laid off 28,000 workers across its parks, experiences and consumer products division in September. Then earlier this week, the company announced additional workers at its California theme parks, including executive, salaried and hourly employees, will face furloughs. Disney didn’t disclose the number of impacted workers.“In 2020, Disney was forced into damage limitation mode and their Covid hangover looks set to linger with businesses such as their theme parks not expected to get back to full swing for 12 months,” said Joe McCormack, a senior analyst at Third Bridge research firm.Florida as a modelBill Coan, president and CEO of ITEC Entertainment, said the California reopening guidelines are “overly aggressive.” Coan, a theme park attractions developer and a former Walt Disney Imagineer, said Disney’s Florida reopening is a template for what could happen in California. So far, there have been no indications that the parks in Orlando have been responsible for any coronavirus outbreaks, he said.Even with limited attendance, demand is rising, Coan said. While there are fewer international guests and guests from out of state, folks who are able to drive to the parks are doing so in droves.“They may not stay for seven days, but they are coming in and going to the park and demonstrating that it can work,” he said.Republican State Senator Patricia Bates, who represents southern Orange and North San Diego counties, visited Disneyland a few weeks ago and told CNBC that she was “really quite impressed” with the safety measures that the company has put in place at the parks. She also visited Downtown Disney and witnessed guests adhering to Disney’s social distancing guidelines while shopping and dining.Bates worked at Disneyland during her time at Occidental College in Los Angeles and believes that the parks should be able to open sooner than the current state guidelines would permit.“Opening them up is vital to the local communities,” she said, explaining how small businesses in the surrounding counties rely on the tourism generated by Disneyland and other parks in the area.Not to mention, the majority of the workers who were laid off two months ago, live in those local counties. Before the pandemic Michael Afram’s transportation company was averaging 450 to 500 rides a day in the area between Los Angeles and San Diego. A hefty percentage of Karmel Shuttle Service’s destinations were Disneyland, Universal Studios and SeaWorld San Diego.With theme parks in California shuttered and air travel demand at a fraction of what it was in 2019, Afram’s business only had 140 transports for the whole month of October.Around 50% of Afram’s business was in the Anaheim resort area where Disney’s two California parks and its Downtown Disney shopping center is located. His shuttle company traveled to local airports, hotels, theme parks, restaurants and other local tourist destinations in the area.- Advertisement – “Many of our hard working residents will be struggling and that is something that Californians cannot afford,” said Quirk-Silva. Andrea Zinder, president of UFCW 324, the labor union that represents all of the retail employees at Disney’s two parks and at Downtown Disney, said members are eager to return to work. Many were recalled to work at the shops at Downtown Disney and at Buena Vista Street, a restaurant and retail area within one of Disney’s parks. But others are still waiting. “We would like to see the state allow Disney to reopen with reduced capacity once Orange County is in the ‘orange’ tier,” Zinder said. “Disney has implemented many safety protocols over and above those required by the state and is also offering regular testing to all employees.”The orange tier in California is when there are between one and 3.9 cases per 100,000 residents. This is the category that theme parks had hoped the state would use to permit them to reopen.The worry is that while big companies like Disney will be able to weather the pandemic — leaning on revenue from other parts of its business like streaming, consumer products and advertising — smaller businesses won’t be around when the storm ebbs.“[Big theme parks] have deep pockets, which make them very sustainable, but my pockets are just the pockets I have in my pants,” Afram said.Disclosure: Comcast is the parent company of NBCUniversal and CNBC. Brittany Losey takes a picture with her daughter Madison Losey, 7, outside the entrance to Disneyland at the Disneyland Resort is closed in Anaheim, CA, on Thursday, October 22, 2020.MediaNews Group/Orange County Register via Getty Images | MediaNews Group | Getty Images Currently Orange County, where Disneyland’s two California parks and Knott’s Berry Farm are located, is seeing 5.6 cases per 100,000 people. Los Angeles County, where Universal Studios is located, is seeing 11.5 cases per 100,000 residents.“It’s completely unattainable right now,” Afram said. “I’m not sure how and why Disney as a corporation is able to follow protocols, set up procedures and guidelines and open up in Orlando and Paris and Shanghai and Tokyo, but in Anaheim for whatever reason they can’t do the same.” California Gov. Gavin Newsom has raised concerns over the number of people who typically frequent theme parks, the duration of the time they spend there and the possibility that transmission rates could rise if the parks are reopened. Assemblywoman Sharon Quirk-Silva, a Democrat, who represents the 65th California Assembly District, which includes northern Orange County, wants to strike a better balance. “I believe that the guidelines set forth by Governor Newsom were released with the right framework and message of prioritizing public health and safety for both theme park employees and guests.” she said.“However, as we have seen the economic impact this pandemic has had on all business sectors, we can acknowledge that public health and economics are not exclusive from each other,” she said. “I have voiced my concerns about the state’s guidelines having a significantly negative impact on thousands of jobs, small business, and ultimately billions in revenue for California. I would urge the Governor and his administration to review the numbers and encourage them to update the guidelines for our theme parks.”Last year, Disney’s parks, experiences and consumer products segment was its fastest-growing profit driver. Since the outbreak began, Disney has been hemorrhaging cash. In the second quarter, the company reported a loss of $1 billion in operating income due to the closures of its parks, hotels and cruise lines. In the third quarter, the company reported a steeper loss of $3.5 billion. It is set to report its fourth-quarter results Thursday.The coronavirus pandemic has caused many headaches for Disney. The company has faced movie theater closures, film and TV production shutdowns, docked cruise ships and the suspension of most live sporting events. But the blow to theme parks has been huge. – Advertisement – – Advertisement – A couple waits in line to enter Downtown Disney in Anaheim, California on July 9, 2020, the first day the outdoor shopping and dining complex has been open to the public. (Photo by Robyn Beck / AFP) (Photo by ROBYN BECK/AFP via Getty Images)ROBYN BECKlast_img read more

Blackwater Valley

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

Dozens of KPK employees resign, following footsteps of ex-spokesperson

first_img“They resigned for various reasons. Most of them stated they wanted to develop their career outside of the KPK,” Ali said in a statement on Saturday.He added that such resignations were common within the KPK, as 126 employees had resigned from the commission between 2016 and 2019.Read also: Drastic action needed to save KPK amid controversies, lackluster performance: ActivistsThe spokesperson went on to say that the antigraft body respected their decisions and urged the resigned employees to become “anti-corruption agents” to promote antigraft values based on their experience working with the KPK.“We understand that it is not an easy decision to resign, or to keep fighting against corruption from within the KPK amid changing situations,” said Ali.In his resignation letter dated Sept. 18, Febri cited “changes in the KPK’s political and legal state” over the past 11 months as the reason for his departure. Many assumed that he was referring to changes caused by the controversial revision to the KPK Law in September last year.Activists previously said that the KPK was “entering its bleakest days [and] no longer trusted by the public” due to its poor enforcement against graft suspects and controversies embroiling the commission, which is currently led by police general Comr. Gen. Firli Bahuri. (kuk)Topics : The Corruption Eradication Commission (KPK) has revealed that dozens of its employees have resigned from the agency.The word on resignations broke days after the antigraft body confirmed that its public relations head and former spokesperson, Febri Diansyah, had resigned from the commission.KPK acting spokesperson Ali Fikri said that 31 employees had filed their resignation letters between January and September.last_img read more

John Stones ready to talk to Mikel Arteta as Arsenal plot January transfer move

first_imgStones is looking to secure his place in Gareth Southgate’s Euro 2020 team (Picture: Getty)Stones has badly struggled for form and fitness and the ex-Everton star has started just nine games in the Premier League this term.AdvertisementAdvertisementArteta shares a good relationship with Stones from his time in the City dugout as Guardiola’s assistant and feels the England international would be a good fit at the Emirates.The Spaniard allowed young defender Konstantinos Mavropanos to join Nurnberg on loan earlier this week which has freed up a space in Arsenal’s squad for a new addition.Stones and Arteta share the same agency which Arsenal could use to their advantage should they press ahead with a bid to land the City defender. Arteta is desperate to sign a defender following Chambers’ injury (Picture: Getty)Arteta has confirmed that he’s looking to bolster his defensive options this winter and Jerome Boateng, Dayot Upamecano and Nathan Ake have all been linked as well as Stones.‘My obligation is to give my opinion on the things we can improve,’ the Spaniard said last week.‘Obviously we have a bad injury with Calum a few days ago that will change our plans at the back.More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man City‘The reality is we will not be able to do much. I’m more concerned about getting players back from injury and try to improve the players I have here, get everybody on board and understanding what we’re trying to do.‘And if something extra comes up and we think it is the right opportunity to improve what we have, then let’s do it.’Arsenal are also on the lookout for a new recruit in defensive midfield and Athletico Paranaense president Mario Celso Petraglia confirmed their interest in Bruno Guimaraes at the weekend.MORE: Atletico Madrid ready to offer Thomas Lemar to Arsenal in exchange for Alexandre Lacazette John Stones ready to talk to Mikel Arteta as Arsenal plot January transfer move Metro Sport ReporterTuesday 14 Jan 2020 12:57 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link8.5kShares Arsenal are lining up a move for Manchester City defender John Stones (Picture: Getty)Manchester City ace John Stones is reportedly ready to hold discussions with Mikel Arteta to join Arsenal this January.The 25-year-old has failed to win Pep Guardiola’s trust after a series of high-profile mistakes across his three-and-a-half-year stay at the Etihad and makeshift centre-back Fernandinho has overtaken him in the pecking order at the heart of City’s defence.Arsenal are on the hunt for defensive reinforcements after Calum Chambers was ruled out for the season with a serious knee injury and Arteta is keen to pursue either a temporary or a permanent move for Stones.According to The Sun, Stones would be interested in talking to the Gunners as he looks to secure regular game-time and nail down his place in England’s starting XI ahead of Euro 2020.ADVERTISEMENT Stones’ honours at Manchester City Premier League – 2017/18, 2018/19FA Cup – 2018/19EFL Cup – 2017/18FA Community Shield – 2018, 2019 Advertisement Advertisement Commentlast_img read more

BLOG: Pennsylvania Conference for Women

first_img November 19, 2015 SHARE Email Facebook Twitter BLOG: Pennsylvania Conference for Women Equality,  First Lady Frances Wolf,  The Blog Today my husband and I attended the Pennsylvania Conference for Women at the convention center in Philadelphia. At the conference, a number of women making an impact in the world including Gloria Steinem, Jessica Alba,  and Joanne Ryder, shared their stories.This conference was conceived ten years ago by the Pennsylvania Commission for Women under then-Governor Ed Rendell and has since grown to reach thousands of Pennsylvania women. This year, there were approximately 9,000 women in attendance. It is a gathering dedicated to the issues that matter in a career – networking, professional development and personal growth.But it’s also a gathering dedicated to the things issues that matter to a healthy functioning society. It is a gathering place for women who want to make Pennsylvania better.That’s precisely what my husband wants for our commonwealth. But it’s what we can’t have as long as we have gender inequality in Pennsylvania. Despite our half-century old equal pay law, women make only 76 cents for every dollar men make.That is just plain wrong. Tom and I are the proud parents of two talented daughters, one of whom is an architect and one who is a geologist. Tom has smart and talented women serving as his Chief of Staff, as his General Counsel, and in a number of important positions in his executive staff and cabinet. He also recently announced the launch of the new Pennsylvania Commission for Women, which is made up of a very talented and dedicated group of Pennsylvanians, who will act as tireless advocates on behalf of Pennsylvania’s women and girls.It’s wrong from a moral and political sense that women are not given the same opportunity as men. But it’s not only unfair, it’s just plain bad policy.Gender inequality keeps Pennsylvania from deriving the full benefits of its talented population. It keeps us from taking full advantage of all the human skills, experience and insights we have here right in our own backyard.Discrimination of any sort shrinks our talent pool and it just doesn’t make sense.From a purely self-interested point of view, we need to make sure the talent pool we draw from is as large as possible in our businesses, in our schools, and in our government.We need to work together to stamp out discrimination and resolve to level our playing field not just because discrimination is morally repugnant, but because it’s also smart policy. Pennsylvania should embrace the practice of fairness to show that we are smart and sensible.We need to work to make the world a fairer place. That is clearly good for not only the women of Pennsylvania, but for all Pennsylvanians.I’m proud of the work my husband does every day to make Pennsylvania a more fair community.center_img Like Governor Tom Wolf on Facebook: By: First Lady Frances Wolflast_img read more

Governor Wolf Announces Funding for Monaca Gateway Project in Beaver County, Improving Traffic Flow and Community Safety

first_img Economy,  Infrastructure,  Press Release,  Transportation Monaca, PA – Today, Governor Tom Wolf was joined by local leaders and state officials to announce the approval of crucial new funding for infrastructure improvements in Monaca, Beaver County, that will enhance traffic flow in the area and to the nearby Shell cracker plant site currently under construction.“The Shell cracker plant represents a truly transformative project for this region, creating more than 600 new jobs – but with that growth comes the need for infrastructure improvements to support it,” Governor Wolf said. “This crucial infrastructure project won’t just make life easier and safer for Monaca residents and businesses, it will enable the true economic growth potential of the Shell cracker plant and other projects in the region.”Monaca Borough was approved for a $3 million grant for the Monaca Gateway Initiative project that will help fund improvements to approximately 6,200 feet of State Route 18 and the construction of a roundabout at the intersection of State Route 18 and State Route 51. Currently, the roads in Monaca are not designed for the heavy flow of industrial traffic, face deteriorating conditions, and become frequently bottlenecked. The improvements to this transportation corridor will enhance traffic flow and support an increased level of service to the Shell cracker plant that will create 600 new, permanent jobs in the region. It will also create a gateway to downtown Monaca.“As progress in our region continues to grow with the building of the Shell cracker plant and major infrastructure changes, I believe that the improvement of Monaca’s Gateway corridor will continue to help this process by making it a safer and more viable route for our community and industry,” said Monaca Mayor Simon Short. “I personally can’t thank Governor Wolf and Secretary Davin enough for recognizing our issues.”“Economic development and infrastructure are inherently tied together, making a project like this one a truly vital piece of the economic development puzzle for Beaver County,” Department of Community and Economic Development (DCED) Secretary Dennis Davin said. “We will continue to work with Monaca and other municipalities in the region to ensure they have the resources necessary to grow and thrive.”Funding for the project was provided by the Transportation Infrastructure Investment Funds (TIIF) program. The TIIF program is administered in cooperation with DCED and the Pennsylvania Department of Transportation (PennDOT).“We are delighted to join with Monaca Borough to enhance its quality of life with these transportation improvements that benefit a cross section of the community – businesses, drivers, bicyclists and pedestrians,’’ said PennDOT Secretary Leslie S. Richards. “This embodies what I have pushed for statewide as part of my PennDOT Connects initiatives – projects that from the very beginning of planning reflect broad input from diverse segments of society.” Governor Wolf Announces Funding for Monaca Gateway Project in Beaver County, Improving Traffic Flow and Community Safety August 14, 2018center_img SHARE Email Facebook Twitterlast_img read more

AP1 to review equity, fixed income management costs

first_imgSwedish buffer fund AP1 is to review its external equity and fixed income mandates with the aim of cutting management costs.In a tender, the fund said it was looking at ways to reduce the “long-term” cost of its long-only fixed income and equity portfolio.It said it was reviewing its approach to external mandates with several goals in mind.In addition to cutting costs, these include increasing transparency and the time its internal management team spends on matters relating to external mandates AP1 is also looking to improve integrated and operational-risk management, its manager-selection process and the flow of data from external managers.The buffer fund is seeking an investment services provider to help research transition managers and custodians.It said it would consider only providers with demonstrable track records of working with similarly sized clients.AP1 currently manages SEK297bn (€31.3bn) in assets, 37.3% of which is held in equities and 31.2% in fixed income securities.Interested parties have until 28 November to respond to the tender.last_img read more

Vantage secures jack-up gig with Eni

first_imgWhen it comes to Eni and its operations in Montenegro, the company signed a concession contract with Montenegro’s government in 2016 for exploring and producing in the four blocks 4118-4, 4118-5, 4118-9, and 4118-10, all offshore. The Topaz Driller is an independent leg cantilever jack-up rig of a BMC 375 design built in 2009. Ihab Toma, the Company’s Chief Executive Officer, commented, “Securing this contract during these challenging times demonstrates that Vantage, with its high-specification rigs and experienced crews, is a leader in safety and operational performance. According to Vantage’s latest fleet status report, the Topaz Driller was warm stacked sometime during the second quarter. “We look forward to commencing work for our esteemed client during Q1 2021”. It is scheduled to be reactivated at the end of 3Q for a contract with New Age. Eni Montenegro and Novatek are operators in a joint venture, with a 50 per cent interest each.center_img Vantage said on Tuesday that the contract with Eni is for 180 days. Vantage Drilling has entered into a contract with Eni for its premium jack-up rig, the Topaz Driller, to perform drilling services offshore of Montenegro. After that, following contract preparation, the rig will work for Eni in Montenegro, starting during 1Q 2021. The blocks cover an overall surface of 1,228 km2 and were assigned through the first round of international competitive bidding. The rig previously operated for Eni in Gabon back in 2019. After that, it went on to work for Vaalco, also in Gabon. last_img read more

Three strikes law supported by 68 per cent of Kiwis, survey finds

first_imgNZ Herald 2 June 2018Third-strike offenders have an average of 63 criminal convictions and 68 per cent of Kiwis approve of the hardline policy, according to a new survey.Under the “Third Strikes” law, a person who has three warnings for serious violent, sexual or drugs offending can be sentenced to the maximum jail time without parole.Justice Minister Andrew Little will take the controversial law, introduced in 2010, to the Cabinet next week to soften it, but a new survey has found the majority of New Zealanders support the law as it is.The Sensible Sentencing Trust commissioned poll of 965 adults found 68 per cent approved of the law, and 20 per cent did not. The rest were unsure or refused to answer.Family First NZ said the independent nationwide poll showed the Coalition Government had no public mandate for scrapping the law, and that evidence proved it is having the desired effect.“The law appears to be working as planned because there is a dramatic drop from the number of first strikes (9632) to second strikes (273), and then again to a third strike (4),” national director Bob McCoskrie said.“Criminals aren’t stupid. They are well aware of the law and its consequences. If the regime is scrapped, the Government is in danger of sending a message that we’re not serious about the It’s Not OK zero-tolerance message on family violence,” he said.Ministry of Justice figures provided in a December 2017 response under the Official Information Act analysed the number of offenders becoming second, third or fourth strikers in the five years after Three Strikes was passed, compared with the five years prior to 2010.The figures showed a 34 per cent reduction in “strike” recidivism, McCoskrie said.“This is the kind of result that should be welcomed, not repealed.”READ MORE: read more