Minneapolis Loans – Himspairport http://himspairport.com/ Wed, 22 Sep 2021 10:29:47 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://himspairport.com/wp-content/uploads/2021/05/default.png Minneapolis Loans – Himspairport http://himspairport.com/ 32 32 US bank buys West Coast MUFG Union Bank for $ 8 billion https://himspairport.com/us-bank-buys-west-coast-mufg-union-bank-for-8-billion/ https://himspairport.com/us-bank-buys-west-coast-mufg-union-bank-for-8-billion/#respond Tue, 21 Sep 2021 21:11:15 +0000 https://himspairport.com/us-bank-buys-west-coast-mufg-union-bank-for-8-billion/ US Bancorp finally joined the latest wave of banking industry mergers on Tuesday by agreeing to an $ 8 billion deal for the consumer operations of MUFG Union Bank, the main segment of US operations for Japan’s largest bank. The purchase will increase US Bank’s loans and deposits by about 20% and give it a […]]]>

US Bancorp finally joined the latest wave of banking industry mergers on Tuesday by agreeing to an $ 8 billion deal for the consumer operations of MUFG Union Bank, the main segment of US operations for Japan’s largest bank.

The purchase will increase US Bank’s loans and deposits by about 20% and give it a much larger presence on the West Coast, particularly in California where it will drop from 10th to 5th place in market share.

And the deal came with a surprise announcement from senior executives at the US bank. Unlike the large-scale downsizing that accompanies most business mergers, they said there would be no layoffs of frontline workers at MUFG Union branches.

“There are labor shortages in many industries and levels of attrition are higher in the banking industry,” said Andy Cecere, managing director of US Bancorp. “Retaining employees is the right thing to do. It’s also important because frontline branch employees are the ones who work most directly with customers.”

While about 80% of MUFG Union branches are within 3 miles of a U.S. bank branch, executives said they expected there to be plenty of opportunities for branch employees. , even if some sites are eventually merged or closed.

“We will not leave any market or reduce the availability of branches or banking services in low and moderate income neighborhoods,” said Terry Dolan, chief financial officer of US Bank.

This is the Minneapolis-based banking firm’s largest transaction since 2001, when it merged with Milwaukee-based Firstar Corp. in a $ 21 billion deal to become the one of the 10 largest banks in the country. It is also the first purchase of another banking transaction by US Bank since 2014, when it purchased Charter One branches in Chicago.

Formed by dozens of mergers when regulatory changes in the 1990s sparked consolidation, US Bank is today the nation’s No.5 bank with $ 558 billion in assets. But so far it has been on the sidelines of the wave of multi-year transactions shaped by new competitive pressures in the banking industry.

“I think a lot of investors were waiting to see them do something,” said Scott Siefers, banking industry analyst at Piper Sandler in Minneapolis. “USB is a very logical acquirer. They have a good track record and they certainly have the merit to do something. “

Discussing the deal, US Bank and MUFG executives stressed that banks need to scale up to develop digital services and spread costs across a larger customer and asset base.

“Scale is bigger than it has ever been in banking,” said Cecere. “The ability to invest in technology capabilities, digital services, customer experience, everything is critically important. Banks are not only competing with banks, but they are also competing with technology platforms. and fintech players. “

US Bank will support approximately 1 million personal customers and 190,000 small businesses with MUFG Union. It will add $ 58 billion in loans to a base of $ 294 billion. It also gets $ 90 billion in deposits, growing its base by $ 429 billion.

For Mitsubishi UFG, Japan’s largest bank with more than $ 3 trillion in assets, the sale marks its exit from US retail banking. It joins other major global banks, including the Spanish BBVA and the Hong Kong-based HSBC, which this year decided to leave American consumer activities to American banks.

His San Francisco-based company MUFG Union had assets of $ 133 billion and about 300 branches in California, Oregon and Washington. But Japanese leaders decided that was not enough to remain competitive in the United States. Morito Emi, general manager of corporate planning at its Tokyo headquarters, told reporters on Tuesday: “We cannot be successful without a certain scale of activity.”

The U.S. bank will pay MUFG $ 5.5 billion in cash and 44 million of its shares, which were worth $ 2.45 billion at Monday’s closing price of $ 55.68. Once the deal is concluded, MUFG will own an almost 3% stake in US Bancorp.

US Bank acquired a debt service business from MUFG Union last year and also provides merchant processing services to MUFG Union. Cecere said executives of the two companies had been discussing a deal for several months.

“For their customers, they have recognized that we have a great set of products and services,” said Cecere. “Because of our size, we just have more capabilities than it would take them time to develop.”

Federal regulators cited loopholes in MUFG Union’s technological security on Monday, and the company agreed to operate under a consent order with the Office of the Comptroller of the Currency.

The pandemic and recession of last year caused the number of transactions in the banking sector to fall by more than half, both in volume and in value. However, last year’s transactions included one of Minnesota’s best-known banking brands, TCF, which was acquired by Huntington Bancshares Inc. of Ohio. to US Bancorp in size – from US banks to BBVA.

“Everyone is trying to figure out what scale means in this industry,” Siefers said. “You have this unique situation where customer behavior migrates very, very quickly to a digital world, but banks are still supposed to have significant footprints on the ground in the form of branches. There is always a very high expectation of Customer Service. “

Reuters contributed to this report.


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Nav awards $ 10,000 small business grant to black-owned logistics company in Minneapolis | Your money https://himspairport.com/nav-awards-10000-small-business-grant-to-black-owned-logistics-company-in-minneapolis-your-money/ https://himspairport.com/nav-awards-10000-small-business-grant-to-black-owned-logistics-company-in-minneapolis-your-money/#respond Tue, 21 Sep 2021 15:00:00 +0000 https://himspairport.com/nav-awards-10000-small-business-grant-to-black-owned-logistics-company-in-minneapolis-your-money/ SALT LAKE CITY, September 21, 2021 (GLOBE NEWSWIRE) – Navigation, the smart and simple financing platform for small businesses, announced today Logistics Roseland Born as the most recent winner of the $ 10,000 grand prize from its Quarterly Small Business Grant. Roseland Born Logistics is a black owned logistics company that provides inbound and outbound […]]]>

SALT LAKE CITY, September 21, 2021 (GLOBE NEWSWIRE) – Navigation, the smart and simple financing platform for small businesses, announced today Logistics Roseland Born as the most recent winner of the $ 10,000 grand prize from its Quarterly Small Business Grant. Roseland Born Logistics is a black owned logistics company that provides inbound and outbound dry freight services. Owned and operated by Mark Davis and Chris Banks, the logistics company plans to use the grant money to purchase a box truck for the company.

Nav’s Quarterly Small Business Grant comes at a time when many small businesses are seeking financing, but are unable to access new funds due to evolving bank financing offerings and solutions. Nav steps in and provides solutions to small business owners in a post-PPP world through the Small Business Grant and works to ensure small businesses are continuously supported.

“It is an honor for Nav to work with the smallest of small businesses at all ages and at all stages of their business, especially companies like Roseland Born Logistics who are newer to the small business world,” said Greg Ott, CEO of Nav. “We are inspired by the tenacity and willingness of Chris Banks and Mark Davis to go it alone and build a small business, and we look forward to seeing the great job Roseland Born Logistics will do for the Minneapolis area. “

Before opening Roseland Born Logistics, Banks and Davis worked at other companies. When they realized they weren’t being paid their fair value, the two decided they wanted to take charge of their careers and start their own businesses. From there Roseland Born Logistics was launched.

“With my co-owner, Chris Banks, we started this business in April 2021. What we didn’t realize until we started our business is how difficult it is to get financing as a new small business. business – many banks only want to work with businesses that have been in operation for at least a year, ”said Mark Davis, co-owner of Roseland Born Logistics. “As one of the only black-owned transportation companies in Minnesota, we wanted to make a lasting impact in our community. And thanks to Nav’s grant, we continue to meet our goals and grow in our first year of operation.

Nav also awarded a second prize of $ 5,000 to Artland Studios, an arts education studio located in Paden, Oklahoma. Artland Studios owner Leslie Anne Martin founded her business in October 2018 as a sole proprietorship and was recently transformed into an LLC in March 2021. Martin established the studio to provide artistic opportunities for children and adults. living in rural central Oklahoma.

“I grew up in Paden, Oklahoma, so I knew there wasn’t enough funding for arts programs in local schools or arts opportunities for adults,” said Leslie Anne Martin, owner of Artland Studios. “My long-term goal for Artland Studios is to be able to host artist residencies, where an artist can come for a period of time, use the facilities and equipment, create incredible works of art, and then conclude their residency with an art exhibition in the local neighborhood. Martin plans to use Nav’s funds to help build a classroom space in his studio so both adults and children have a place to learn about the arts.

Nav created the Nav Small Business Grant in 2018 to raise awareness of the barriers small business owners and entrepreneurs face when starting and maintaining their businesses. In September 2021, Nav awarded $ 170,500 to small businesses across the country. In the final round of winners, Nav offered a grand prize of $ 10,000 to JW Equestrian Services, a full-service equine training center.

Nav’s next round of Small Business Grants is open now and will end on October 26, 2021. Learn more about the grant and how to apply here.

About navigation Navigation uses real business data to quickly match small businesses with the best loans and credit cards. The leading business financial management application, Nav’s intelligent business finance solution provides insights and opportunities for the day-to-day financial decisions that fuel their success. Nav’s solution is also leveraged by other business service providers to improve their customer experience. Learn more about Nav is available at Nav.com.

Contact pr@nav.com

Pfizer says COVID-19 vaccine works in children ages 5 to 11

Copyright 2021 GlobeNewswire, Inc.


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Green finance: these banks make sustainable development their mission https://himspairport.com/green-finance-these-banks-make-sustainable-development-their-mission/ https://himspairport.com/green-finance-these-banks-make-sustainable-development-their-mission/#respond Tue, 21 Sep 2021 10:00:59 +0000 https://himspairport.com/green-finance-these-banks-make-sustainable-development-their-mission/ By Karen Kroll Mall financial institutions include sustainable development initiatives in their mission statements and marketing materials. A small growing group goes further. Sustainability is the basis of their goal and informs all aspects of their operations and marketing. “It’s an integral part of their mission, vision and values,” says David Reiling, chairman of the […]]]>

By Karen Kroll

Mall financial institutions include sustainable development initiatives in their mission statements and marketing materials. A small growing group goes further. Sustainability is the basis of their goal and informs all aspects of their operations and marketing. “It’s an integral part of their mission, vision and values,” says David Reiling, chairman of the board of the Global Alliance for Banking on Values, a network of banks and banking cooperatives using finance to ensure sustainable economic, social and environmental development.

“It’s not like we do our business here and then do these other things there,” adds Reiling, who is also CEO of the $ 1.6 billion Sunrise Banks in Minneapolis. In addition to avoiding activities they deem harmful, these banks finance projects, such as solar installations, which can have a positive impact on the environment. Member banks are also working to reduce their own environmental impact.

A sustainability mission can pay off. A GABV 2020 report, “Real Economy-Real Returns: The Business Case for Values-based Banking”, found that value-based banks, or those that consider people, planet and prosperity in their missions, have enjoyed higher rates of return on assets and equity than systemically important banks global during the five-year period ending in 2018.

The leaders of these financial institutions also say their organizations have a responsibility to play an active role in tackling climate change and promoting sustainability. “We believe that banks should feed communities, not extract from them,” said Lynn Marie Auzenne, director of marketing at Beneficial State Bank, a bank that describes itself as having a threefold purpose: “people, planet, prosperity” .

Regulations also bring about changes. New Zealand requires all banks to report on the climate, says Auzenne. In 2020, the European Central Bank published its final guide to the climate and associated risks for banks.

Of course, no single bank can solve all environmental or social challenges on its own. Instead, community and regional banks need to come together and educate consumers, says Auzenne, noting that people vote every day with their money. “As banks, if we can collectively motivate people to adopt greener banking practices, then we can amplify the sustainability of our entire economy,” she adds.

Benefit and mission

The mission of Climate First Bank in Florida is to “reimagine finance as a force for good and become the most influential bank contributing to the reduction of atmospheric CO2,” according to its website.

Like many banks engaged in the fight against climate change, Climate First is a legal benefits company. That is, it is structured to pursue two objectives: to make a profit and to promote the public good. A de novo that opened in July, Climate First is also working towards the B Corporation certification. B Corps certified are independently assessed and meet high standards of verified social and environmental performance, among other criteria.

“We are merging for-profit community banking with our mission-driven nonprofit goal,” said Executive Vice President Valerie Nussbaum-Harris. The bank offers personal and business banking services focused on environmental sustainability, such as loans for solar and other renewable energy projects, building renovations and purchasing certified carbon offsets. “Solar energy is an industry that we plan to disrupt,” through a solar loan program, she said.

The bank is also buying carbon offsets to counter the energy it uses at its current location, a historic home in St. Petersburg, Fla., Which does not allow for an energy efficient retrofit.

Attract employees with green

Sustainability is both a journey and a different way of doing business, says Samantha Pause, director of marketing at Mascoma Bank, a Certified B company with offices in New Hampshire, Maine and Vermont.

“Every decision we make, it all comes down to, what’s the (environmental) impact of that?” she says. While the bank needs to make a profit, it seeks to do so in a way that supports local communities, she adds.

To this end, the bank’s management supports companies, such as solar installers, that support the environment, Pause says. The bank has also partnered with several companies that have installed large solar panels to offset the energy Mascoma uses to power its 31 sites.

As Mascoma makes plans to renovate some of its sites, management is thinking about the type of materials used, as well as how the waste will be disposed of. They are also looking for women-owned and minority-owned entrepreneurs. “All of these considerations guide our decisions,” says Pause.

An employee-led environmental impact team is looking for ways for Mascoma to gradually reduce its waste production to zero. Getting there requires “essentially diving into dumpsters,” Pause explains, to identify the types of waste generated by the bank and how it can be recycled, reused and / or donated. This includes not only paper and soda cans, but also building materials from the renovations.

Operating with a triple bottom line business model can mean decision making takes longer and projects can cost more, bankers say. And while it may not be possible to show the ROI of becoming a sustainability-focused B Company, it has helped Mascoma recruit and retain talented people, Pause said. “They come to the door and say, ‘We would never have considered working for a bank, but because you’re a B corporation, we will,’” she says.

Climate, racial and social justice

Climate justice is inextricably linked with racial and social justice, says Auzenne of Beneficial State Bank. “We also cannot claim to be pro-racial equity and finance industries that disproportionately impact diverse, low-income communities, such as pipelines and conventional agriculture,” she says.

At least 75 percent of Beneficial’s loans, in dollars and numbers, must be aligned with the mission and meet its triple bottom line commitment, Auzenne says. At the same time, Beneficial cannot engage in “counter-mission” activities that generate short-term profits, but to the long-term detriment of people and the planet. This includes extractive industries like fossil fuels, hydraulic fracturing, coal, pipelines, and nuclear.

As of December 2020, Beneficial had granted $ 135 million in loans to the environmental sustainability sector and $ 42 million to the renewable energy sector. It also measures and discloses the carbon footprint of its loans, using the methodology of the Partnership for Carbon Accounting Financials. This is a step towards a goal of net zero emissions.

Beneficial also measures its own greenhouse gas emissions, including those directly caused by the bank’s energy consumption, as well as those generated indirectly by activities such as employee commuting and business travel. It then buys and withdraws carbon offsets to neutralize these emissions.

Its environmental efforts do not appear to have slowed the growth of Beneficial. Between its launch in 2007 and 2018, Beneficial grew from $ 29 million to $ 1 billion in assets.

Non-green banks

The “green bank” umbrella often includes financial companies other than traditional banks. Montgomery County Green Bank is not a bank in the traditional sense, says CEO Tom Deyo. Instead, it is a nonprofit middleman that provides credit enhancement to help traditional banks support clean energy investments. “We’re trying to make a bigger pot of investment (funding) available in the clean energy and renewable energy markets,” he says.

Among other activities in 2020, the bank launched a $ 600,000 small business energy saving loan program, as well as a low-rate, fixed-rate, no-fee residential solar program. It also supported $ 2.5 million in seven clean energy projects.

Atmos Financial is not a bank but a “climate finance technology company,” says co-founder Peter Hellwig.

The company, launched in January 2021, will fund climate-positive projects with deposits. “One of the main obstacles to the massive adoption of emission reduction technologies is access to low-cost capital,” notes the Atmos website. Because it is not a bank, Atmos is partnering with other banks to offer FDIC insurance on its accounts.

Why not become a bank? “Our ability to maximize our impact to solve problems,” Hellwig says, “is faster outside of the regulated banking environment.”

Become a sustainable bank

Only a handful of banks and other financial institutions have made sustainability a core mission. “To some extent, we all do this on our own,” says Nussbaum-Harris of Climate First.

Still, a few guidelines have become evident. At least one person and preferably one team should be dedicated to environmental initiatives, says Becca Hoeft, brand director at Sunrise Banks, which is also a B company. This team should monitor progress and be in control of the data. “Data is the foundation of every story we tell,” she adds.

The bank cannot just pretend to do good, it must act on it, says Hoeft. “You need to make sure the brand messages align with your organization’s core values ​​and you have the support of your leadership team. “

While focusing on the climate requires a commitment of time and resources, it can also help banks gain relevance, especially with younger customers, and even when financial services become mainstream, Reiling explains. To achieve this, authenticity is key. “You have to live the values ​​you profess,” he says.

Karen M. Kroll is a business and financial services writer and content marketer based in Minnesota.


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September 2021 – ELCA Grand Canyon Synod https://himspairport.com/september-2021-elca-grand-canyon-synod/ https://himspairport.com/september-2021-elca-grand-canyon-synod/#respond Mon, 20 Sep 2021 18:00:00 +0000 https://himspairport.com/september-2021-elca-grand-canyon-synod/ Youth Gathering July 2022 – Registration opens September 22 Every three years, 30,000 high school youth and their adult leaders from across ELCA come together for a week of faith training known as ELCA Youth Gathering. Through days dedicated to interactive learning, worship, Bible study, service and fellowship, young people grow in faith and are […]]]>

Youth Gathering July 2022 – Registration opens September 22

Every three years, 30,000 high school youth and their adult leaders from across ELCA come together for a week of faith training known as ELCA Youth Gathering. Through days dedicated to interactive learning, worship, Bible study, service and fellowship, young people grow in faith and are challenged and inspired to live their faith in their own. everyday life.
The 2022 ELCA Youth Gathering will take place July 24-28 in Minneapolis, featuring our pre-events, MYLE (Multicultural Youth Leadership Event) and the table July 21-24. Registration opens September 22 via the Gathering website. The funds available to offset the registration fee are limited. Visit the Financial aid section of our website to learn more or apply. When you are on the website, we encourage you to subscribe to the gNews, our monthly newsletter filled with tips, resources and reminders as we prepare for next summer. Also, don’t forget to visit the Key dates section of our website to see what deadlines are approaching!

SBA Launches New Portal to Streamline the Referral Process for PPP Loans of $ 150,000 or Less

The Small Business Administration’s new streamlined application portal will make forgiveness easier for many small congregations that have obtained Paycheck Protection Program loans to survive the pandemic. The majority of borrowers awaiting forgiveness have loans of less than $ 150,000 and have faced an overly complicated forgiveness process. The new portal will simplify the process and offer forgiveness more effectively. >Following

Portico Benefit Services – three important details of the 2022 annual registration

The annual sign-up will be there before you know it, and Portico wants to make sure you have the information you need to make the process run smoothly. 1) This year, your organization’s registration window is earlier and shorter, October 4-15. 2) Employers who do not make a health insurance selection by the deadline will be awarded the Silver + level associated with the employer’s contribution to the Level A Health Savings Account (HSA). 3) Several Resources were created to support a successful registration season.

ELCA Federal Credit Union has granted 360 PPP loans to congregations and ministries

Last year the Federal Credit Union ELCA quickly pivoted operations to becoming an SBA Certified Lender and offered special assistance to ELCA congregations and ministries that struggled to make payroll during the pandemic. Find out how this program has impacted our church, our members, and the ministry we share. >Following

Extended public service loan remission for clergy and religious workers

Enrolled ministers and other church employees with federal student loans may now be eligible for loan forgiveness. When religious workers ask for forgiveness, the form should be completed by their direct employer. Synods cannot complete forms for congregational staff, and the church-wide organization cannot complete forms for synod or congregation staff. >Following

Safety in bad weather

Do you know the difference between a watch and a warning? Do you have a designated place to gather during a severe storm? Severe weather can consist of hazardous conditions produced by thunderstorms, including damaging winds, tornadoes, large hail, flooding and flash floods. >Following


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Climate change is an infrastructure problem. A map of electric vehicle chargers shows one reason why https://himspairport.com/climate-change-is-an-infrastructure-problem-a-map-of-electric-vehicle-chargers-shows-one-reason-why/ https://himspairport.com/climate-change-is-an-infrastructure-problem-a-map-of-electric-vehicle-chargers-shows-one-reason-why/#respond Mon, 20 Sep 2021 10:01:10 +0000 https://himspairport.com/climate-change-is-an-infrastructure-problem-a-map-of-electric-vehicle-chargers-shows-one-reason-why/ Most Americans 107,000 service stations can fill multiple cars every five or 10 minutes at multiple pumps. This is not the case for electric vehicle chargers – at least not yet. Today, the United States has approximately 43,000 public charging stations for electric vehicles, with around 106,000 points of sale. Each outlet can only charge […]]]>

Most Americans 107,000 service stations can fill multiple cars every five or 10 minutes at multiple pumps. This is not the case for electric vehicle chargers – at least not yet. Today, the United States has approximately 43,000 public charging stations for electric vehicles, with around 106,000 points of sale. Each outlet can only charge one vehicle at a time, and even fast charging sockets take an hour to provide a value of 180-240 miles; most take much longer.

The existing network is acceptable for many purposes. But the chargers are very unevenly distributed; nearly a third of all outlets are in California. This makes electric vehicles problematic for long trips, like the 550 miles of sparsely populated desert highway between Reno and Salt Lake City. “Range anxiety” about longer journeys is one of the reasons electric vehicles are still present less than 1% American passenger cars and trucks.

This uneven and limited charging infrastructure is a major obstacle to the rapid electrification of the US vehicle fleet, considered crucial to reducing greenhouse gas emissions responsible for climate change.

It’s also a clear example of how climate change is an infrastructure issue – my specialty as a historian of climate science at Stanford University and publisher of the book series “Infrastructure. “

For many decades, the United States has built transportation, heating, cooling, manufacturing, and agricultural systems that rely primarily on fossil fuels. The greenhouse gas emissions that these fossil fuels release when burned have raised global temperatures by about 1.1 ° C (2 ° F), with serious consequences for human lives and livelihoods. , like the recent report of the United Nations Intergovernmental Panel on Climate Change demonstrates.

The new assessment, like its predecessor Special report on global warming of 1.5 ° C, shows that minimizing future climate change and its most damaging impacts will require a rapid shift away from fossil fuels and instead shifting to renewable and sustainable energy sources such as wind, solar and tidal power.

It means reinventing the way people use energy: how they travel, what and where they build, how they make goods and how they grow food.

Gas stations were also transport infrastructure

Gasoline vehicles with internal combustion engines completely dominated American road transport for 120 years. It’s long for path dependence settle down, as America has put in place a nationwide system to support vehicles powered by fossil fuels.

Gas stations are just the ends of this huge system, which also includes oil wells, pipelines, tankers, refineries and tankers – a full-fledged energy production and distribution infrastructure that also supplies manufacturing, agriculture, fuel oil, shipping, air transportation, and power generation.

Without it, your average gas sedan wouldn’t get from Reno to Salt Lake City, either.

The burning of fossil fuels in the transport sector is now America’s largest single source greenhouse gas emissions causing climate change. Converting to electric vehicles could significantly reduce these emissions. A recent life cycle study found that in the United States, a 2021 battery-powered EV – charged from the current electricity grid – only creates about a third of the greenhouse gas emissions of a similar 2021 gasoline car. These emissions will decrease even further as more electricity comes from renewable sources.

Despite higher upfront costs, today’s electric vehicles are actually less expensive than gasoline cars due to their greater fuel efficiency and far fewer moving parts. An EV owner can expect to save US $ 6,000-10,000 over the life of the car compared to a comparable conventional car. Large companies like UPS, FedEx, Amazon and Walmart are already switch to electric delivery vehicles to save money on fuel and maintenance.

All of this will be good news for the climate, but only if the electricity to power electric vehicles comes from low-carbon sources such as solar, tidal, geothermal and wind power. (Nuclear is also low carbon, but expensive and politically problematic.) Since our current electricity grid relies on fossil fuels for about 60% of its production capacity, that’s a big challenge.

To achieve maximum climate benefits, the power grid will not only need to power all cars that once used fossil fuels. At the same time, it will also have to meet the growing demand for other transitions to fossil fuels, such as electric water heaters, heat pumps and stoves to replace the millions of similar devices currently running on fossil natural gas.

The infrastructure bill

The 2020 Net-Zero America Study of Princeton University estimates that engineering, construction and provision of a low-carbon grid that could replace most uses of fossil fuels would require an investment of around $ 600 billion by 2030 .

The infrastructure bill currently being debated in Congress was originally designed to achieve this goal. It initially included $ 157 billion for electric vehicles and $ 82 billion for power grid upgrades. Besides, $ 363 billion in clean energy tax credits would have supported low-carbon electric power sources, as well as energy storage to provide back-up power during times of high demand or reduced production of renewables. During negotiations, however, the Senate completely ditched clean energy credits and cut EV funding by more than 90%.

Of the remaining $ 15 billion for electric vehicles, $ 2.5 billion would buy electric school buses, while an electric vehicle charging network project of some 500,000 stations would get $ 7.5 billion – about half of the amount needed, according to Energy Secretary Jennifer Granholm.

On the power grid, the infrastructure bill includes around $ 27 billion in direct financing and loans to improve grid reliability and climate resilience. It would also create a Network Development Authority under the US Department of Energy, responsible for developing a national grid capable of moving renewable energy across the country.

The infrastructure bill may be further amended by the House before it reaches President Joe Biden’s office, but many items that were dropped have been added to another bill that is heading towards the Chamber: the 3.5 trillion dollars budget plan.

As agreed by Senate Democrats, this plan incorporates many of the Biden administration’s climate proposals, including tax credits for solar, wind and electric vehicles; a carbon tax on imports; and the requirements for utilities to increase the amount of renewable energy in their energy mix. Senators can approve the budget by a simple majority vote at “reconciliation”, although by then it will almost certainly have been cut again.

Overall, the bipartisan infrastructure bill looks like a small but real down payment on a more climate-friendly transport sector and electricity grid, which will take years to develop.

But to claim global leadership to avoid the worst potential effects of climate change, the United States will need at least the much larger commitment promised in the Democrats’ budget plan.

Like an electric car, this commitment will seem expensive at first. But as the recent IPCC report reminds us, in the long term, the potential savings linked to climate risks like droughts, floods, forest fires, deadly heat waves and sea level rise would be much, much bigger.The conversation

This article is republished from The conversation under a Creative Commons license. Read it original article.

Paul N Edwards is William J. Perry Fellow in International Security and Senior Research Fellow at the Center for International Security and Cooperation at Stanford University. He also remains a professor of information and history at the University of Michigan. Edwards writes and teaches on knowledge and information infrastructures.


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Fighting Inequalities after the Occupation of Wall Street https://himspairport.com/fighting-inequalities-after-the-occupation-of-wall-street/ https://himspairport.com/fighting-inequalities-after-the-occupation-of-wall-street/#respond Sat, 18 Sep 2021 09:57:08 +0000 https://himspairport.com/fighting-inequalities-after-the-occupation-of-wall-street/ NOT Occupy Wall Street was criticized at the time for exposing systemic problems without offering a concrete list of solutions. Yet the protesters spoke about policies they saw as unfair and others that would tackle the evils they stood up to. The movement has left an indelible mark not only on the national debate on […]]]>

NOT

Occupy Wall Street was criticized at the time for exposing systemic problems without offering a concrete list of solutions. Yet the protesters spoke about policies they saw as unfair and others that would tackle the evils they stood up to. The movement has left an indelible mark not only on the national debate on inequality, but also on the laws and structures that allow it. The rampant inequality decried by Occupy has been perpetuated over decades of political choices and can be reversed by the same. Below, we identify eight policy areas in which activists and lawmakers have, since 2011, tried to work for a more just America.

Search for Katrina Janco and Gloria Oladipo.

NOT

MINIMUM SALARY OF $ 15

Occupy Wall Street has shed light on the huge sums of money being accumulated by the people at the top, but it also got the country talking about the meager wages paid to those at the bottom. Just a year after protesters occupied Zuccotti Park, the Fight for $ 15 movement began demanding a minimum wage of $ 15 an hour, plus the right to unionize, and it was surprisingly successful. Ten states and Washington, DC, have now passed legislation to raise their minimum wages to that level, as have dozens of cities. During his administration, President Obama supported a minimum wage of $ 9 an hour, but in 2016 the Democratic Party had a minimum wage of $ 15 in its platform. Democrats have yet to vote a raise while controlling Congress and the White House. President Biden has, however, taken executive action to raise the wages of federal contractors to this level, affecting at least a quarter of a million people.

NOT

FREE COLLEGE

Protesters who camped at Zuccotti Park created the Occupy Student Debt campaign in an effort to create a movement to end all student debt. One of the fundamental principles was to advocate for free public higher education, and that left a mark. Since 2011, 16 states have launched statewide programs that make college free to students at certain types of institutions. It’s also an idea that has resonated with federal lawmakers, even though they have yet to pass legislation. Members of Congress introduced a bill to provide tuition-free college, and after campaigning for two years of free-for-all community college, President Biden included it in his U.S. plan for families, which is now part of the Democrats’ Autonomous Infrastructure Package. .


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Editorial – Bloomberg Opinion: Biden Faces Crucial Choice in Financial Reform | Editorials https://himspairport.com/editorial-bloomberg-opinion-biden-faces-crucial-choice-in-financial-reform-editorials/ https://himspairport.com/editorial-bloomberg-opinion-biden-faces-crucial-choice-in-financial-reform-editorials/#respond Sat, 18 Sep 2021 04:15:00 +0000 https://himspairport.com/editorial-bloomberg-opinion-biden-faces-crucial-choice-in-financial-reform-editorials/ This editorial appeared in Bloomberg Opinion on September 14: NEW YORK – Federal Reserve Chairman Jerome Powell has done a great job managing the U.S. economy both through the vagaries of the Trump administration and the ongoing coronavirus pandemic. Yet the Fed under his leadership failed in one crucial area: ensuring the long-term health and […]]]>

This editorial appeared in Bloomberg Opinion on September 14:

NEW YORK – Federal Reserve Chairman Jerome Powell has done a great job managing the U.S. economy both through the vagaries of the Trump administration and the ongoing coronavirus pandemic. Yet the Fed under his leadership failed in one crucial area: ensuring the long-term health and resilience of the country’s financial system.

President Joe Biden has the opportunity to remedy this shortcoming. He should use it.

Given how the financial system appears to have weathered the pandemic, one could be forgiven for concluding that everything is in order. It’s not.

Banks have avoided debilitating losses in large part because the Fed and the Treasury have pledged trillions of dollars to stabilize markets and help borrowers repay their loans. It was the correct answer, but it also obscured some lingering weaknesses.

Consider a crucial indicator of financial strength: equity. Unlike forms of debt such as deposits, capital represents funds from investors willing to share the risk of losses. When banks have plenty of them, they are better able to operate in a crisis and help with the Fed’s recession-fighting efforts. But to achieve this, it takes persistence: bank executives generally prefer to resort to more debt or leverage, which benefits from government subsidies and increases certain measures of profitability in good times.

The authorities were successful in raising more capital in the aftermath of the 2008 financial crisis, but never went far enough. At the four largest U.S. banks, tangible equity peaked at around 8% of tangible assets at the end of 2015, far less than research from the Minneapolis Fed and others suggests would be needed to reduce risk. failure to an acceptable level. Since then, capital levels have declined with political will: in June 2021, this tangible capital ratio stood at around 6.4%.

The Fed played a leading role in the fraying. Randal Quarles, the vice president of banking supervision appointed by Trump, asserted in 2019 that “the capital formation phase of the post-crisis era is now over”, citing as evidence the ability of banks to resist to hypothetical recessions and market collapses during annual strains. testing. Yet those tests failed to capture the severity of a real crisis – and under Quarles, the Fed made them even less stressful, allowing banks to return large amounts of capital to shareholders in the form of dividends and cash. share buybacks.

Under the rubric of greater simplicity, the Fed has also weakened supervision in other ways. He turned an initially sensible reform into an ouster of the Volcker rule, intended to curb speculation in financial institutions that benefit from government safety nets. All of this put an end to the old annual “living wills,” aimed at streamlining corporate structures by challenging banks to explain how, if they failed, authorities could quickly dismantle them with minimal collateral damage.

Now, for larger institutions, full plans are only required once every four years. Imagine trying to shut down Lehman Brothers in 2008 using instructions written in 2004.

The Fed is right about one thing: supervision can and should be simpler. The way to do this, however, is first to insist that banks accumulate enough capital to absorb the losses that real crises have historically generated and have yet to spare.

If banks were stronger, restrictive practices such as regular stress testing and micromanagement by reviewers would be unnecessary. And if regulators imposed more stringent and effective limits on taxpayer-supported activities, hundreds of additional pages of rules could be removed.

This is where Biden comes in. The Fed needs a bank supervisor who is willing and able to pursue the twin goals of strength and simplicity.

Quarles’ four-year term ends in October. With the right appointment, the president can send Powell an unequivocal signal – and set a much more promising path for financial reform.

Editorials are written by the editorial board of Bloomberg Opinion. © 2021 Bloomberg Notice.

As an Amazon Associate, I earn Qualifying Purchases.


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Restaurant closes after obtaining $ 464,040 in COVID funds; owner accuses government and then retracts | Restaurants https://himspairport.com/restaurant-closes-after-obtaining-464040-in-covid-funds-owner-accuses-government-and-then-retracts-restaurants/ https://himspairport.com/restaurant-closes-after-obtaining-464040-in-covid-funds-owner-accuses-government-and-then-retracts-restaurants/#respond Fri, 17 Sep 2021 18:10:00 +0000 https://himspairport.com/restaurant-closes-after-obtaining-464040-in-covid-funds-owner-accuses-government-and-then-retracts-restaurants/ Now knowing that McKay’s lease was ending “and not giving us any notice it was devastating,” she said. Suiter, 37, who was a bakery worker at Pine Cone for the past year, said she was unsure whether McKay used the P3 money to pay his staff, but said he employed his son, daughter and wife […]]]>

Now knowing that McKay’s lease was ending “and not giving us any notice it was devastating,” she said.

Suiter, 37, who was a bakery worker at Pine Cone for the past year, said she was unsure whether McKay used the P3 money to pay his staff, but said he employed his son, daughter and wife full time in the past. the summer, whereas before, they were only filling.

She said McKay told his employees he was audited and reimbursed most of his servers on their last paychecks.

“It was very, very difficult to swallow to see the panel accusing the government he set up when he did not mention it among the many reasons he gave us,” he said. she declared.

Suiter said she wished McKay had visited the restaurant owner Pine Cone in Johnson Creek to see if he wanted to take over the DeForest restaurant. She said McKay admitted to staff that he had not tried to find a buyer in the community.

McKay told the Wisconsin State Journal that he was friends with the owner of the other Pine Cone, which is still in business.

DeForest Pine Cone’s website shows that he had been in business for 49 years.

“Since The Pine Cone started in 1973, we’ve taken great pride in bringing you food of exceptional quality,” the website says. “We believe The Pine Cone is a living link to the past where food was plentiful and prices right. Maintaining this standard and providing our customers with exceptional service is kind of a motto for us. “


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Bridgewater Bancshares (BWB) drops 0.19% to high volume on September 16 https://himspairport.com/bridgewater-bancshares-bwb-drops-0-19-to-high-volume-on-september-16/ https://himspairport.com/bridgewater-bancshares-bwb-drops-0-19-to-high-volume-on-september-16/#respond Fri, 17 Sep 2021 01:39:00 +0000 https://himspairport.com/bridgewater-bancshares-bwb-drops-0-19-to-high-volume-on-september-16/ Last prize $ Last trade Switch $ Percentage of change % Open $ Previous Close $ High $ moo $ 52 weeks high $ 52 weeks low $ Market capitalization P / E ratio Volume To exchange BWB – Market data and news To exchange Shares of Bridgewater Bancshares Inc (NASDAQ: BWB) fell 0.19%, or […]]]>

Shares of Bridgewater Bancshares Inc (NASDAQ: BWB) fell 0.19%, or $ 0.03 per share, to close Thursday at $ 15.89. After opening the day at $ 15.92, shares of Bridgewater Bancshares have fluctuated between $ 16.01 and $ 15.82. 40,557 shares traded in the hands, an increase from their 30-day average of 36,754. Thursday’s activity brought the market cap of Bridgewater Bancshares to $ 447,868,024.

Bridgewater Bancshares is headquartered in St Louis Park, Minnesota.

About Bridgewater Bancshares Inc

Bridgewater Bancshares, Inc. is a financial holding company headquartered in St. Louis Park, Minnesota. The Company has two wholly owned subsidiaries, Bridgewater Bank, a Minnesota chartered commercial bank founded in November 2005, and Bridgewater Risk Management, Inc., a captive insurance company founded in December 2016. Bridgewater Bank has seven locations serving customers throughout Minneapolis-St. Paul in the Minnesota Metropolitan Statistical Area and offers a full line of simple, quality loan and deposit products, primarily for business customers. As of June 30, 2020, the Company had total assets of approximately $ 2.75 billion, total loans of approximately $ 2.19 billion, total deposits of approximately $ 2.24 billion, and shareholders’ equity. totals of approximately $ 257.2 million.

Visit the Bridgewater Bancshares Inc profile for more information.

About the Nasdaq Stock Market

The Nasdaq Stock Market is a global leader in trading data and services, as well as the listing of stocks and options. The Nasdaq is the world’s largest stock exchange for options volume and is home to the five largest US companies – Apple, Microsoft, Amazon, Alphabet and Facebook.

To get more information about Bridgewater Bancshares Inc and keep up with the latest company updates, you can visit the Company Profile page here: Bridgewater Bancshares Inc’s Profile. For more information on the financial markets, be sure to visit Equities News. Also, don’t forget to sign up for the Daily Fix to get the best stories delivered to your inbox 5 days a week.

Sources: The chart is provided by TradingView based on 15 minute lag prices. All other data is provided by IEX Cloud as of 8:05 p.m. ET on the day of publication.

DISCLOSURE:
The views and opinions expressed in this article are those of the authors and do not represent the views of equities.com. Readers should not take the author’s statements as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please visit: http://www.equities.com/disclaimer


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No charge in 1st case under NYPD choking ban https://himspairport.com/no-charge-in-1st-case-under-nypd-choking-ban/ https://himspairport.com/no-charge-in-1st-case-under-nypd-choking-ban/#respond Wed, 15 Sep 2021 01:23:55 +0000 https://himspairport.com/no-charge-in-1st-case-under-nypd-choking-ban/ NEW YORK (AP) – A case seen as a first test of New York’s law criminalizing police strangulation has ended without charge. A Queens grand jury on Tuesday dismissed the charges against David Afanador, a former New York police officer who was seen on cellphone video last year wrapping his arm around a man’s neck […]]]>

NEW YORK (AP) – A case seen as a first test of New York’s law criminalizing police strangulation has ended without charge.

A Queens grand jury on Tuesday dismissed the charges against David Afanador, a former New York police officer who was seen on cellphone video last year wrapping his arm around a man’s neck on Tuesday. the Rockaway Beach Boardwalk.

The June 2020 showdown came less than a month after George Floyd was murdered by Minneapolis police and just nine days after the state’s smothering ban was enacted as part of a set of police reforms.

Afanador, 40, was the first officer charged under the law. Queens District Attorney Melinda Katz said at the time the ink “was barely dry”. the NYPD.

The grand jury decision Tuesday in the Queens strangulation case overturns aggravated strangulation and attempted strangulation charges prosecutors initially brought against Afanador last year.


In New York, grand juries serve as a check on prosecutors, and all felony cases require an indictment before they can be tried, unless a defendant waives the requirement.

Afanador’s attorney Stephen Worth said on Tuesday they were “pleased that the grand jury saw this act for what it was: a simple act of detaining an emotionally disturbed person for it is evaluated “.

Worth said Afanador testified before the grand jury, although he was not required to.

“There was no bottleneck,” Worth said.

Afanador was suspended by the NYPD and arrested after a video played on his cell phone showing him attacking Ricky Bellevue, 35, and putting his arm around Bellevue’s neck as he lay face down on the ground on the promenade.

Prosecutors said Afanador kept Bellevue in strangulation, a tactic the NYPD had banned for years, while other officers handcuff him, making him appear limp and lose consciousness.

Afanador finally let go of Bellevue’s neck after another officer shot her back, prosecutors said.

Before the teardown, prosecutors said, Bellevue appeared to take a can from a trash can and asked officers if they were scared. Bellevue’s attorney said police knew he was suffering from a mental illness.

Bellevue attorney Sanford Rubenstein said on Tuesday he was disappointed with the grand jury’s decision. He said a lawsuit against Afanador and the police department is continuing.

Reverend Kevin McCall, who is organizing a protest and rally on behalf of Bellevue in Queens Criminal Court on Wednesday, called it a “misfortune of justice”.

Katz said in a statement that the law prohibited her from discussing what had happened in the grand jury, but that she would seek disclosure of the proceedings “in the interests of transparency.”

In 2016, Afanador was acquitted of the charges of hitting a 16-year-old boy with a pistol during a marijuana bust, breaking two of his teeth. The beating, seen on video, continued until the boy fell to the ground and was handcuffed.

In March, he was arrested after Long Island police said he fired a pistol into the Atlantic Ocean while off duty.

Police said officers investigating a report of gunfire at Long Beach saw Afanador walking off the beach with a loaded Beretta 9mm pistol and three magazines loaded with 15 rounds. Afanador has also been cited for possession of alcohol for carrying an open can of Truly Hard Seltzer.

Afanador remains free on bail while this case is pending. His next court appearance is scheduled for October 12.

___

Follow Michael Sisak on Twitter at twitter.com/mikesisak



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