Man Arrested With Loaded Handgun Following Jamestown Traffic Stop

first_imgJAMESTOWN – A 23-year-old Buffalo man was arrested after police allegedly found drugs and a loaded handgun in his vehicle during a traffic stop on Friday morning.Jamestown Police say Dayrone Ferguson was pulled over in the Brooklyn Square Rite Aid Parking Lot around 4 a.m.Officers said inside Ferguson’s vehicle they allegedly found the loaded gun and a quantity of marijuana.Furthermore, officers said Ferguson did not have a New York State Pistol Permit. Police say he was taken into custody and charged with second-degree criminal possession of a weapon and second-degree unlawful possession of marijuana. He was also issued a traffic ticket for failure to maintain lane.Ferguson was taken to Jamestown City Jail pending arraignment in the case. Share:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to email this to a friend (Opens in new window)last_img read more

Fitch rates Vermont Muni Bond Bank’s $9.5 million Gen Res program bonds ‘AA’; outlook stable

first_imgFitch Ratings assigns an ‘AA’ rating to the following 2011 Vermont Municipal Bond Bank bonds, issued under the 1988 General Resolution:–$9,500,000 (federally taxable qualified school construction bonds) 2011 series 1.The bonds are expected to sell via negotiation on March 9, 2011. Bond proceeds will be loaned to two local school districts for capital improvements.In addition, Fitch affirms $516,930,000 in outstanding general resolution bonds at ‘AA’.The Rating Outlook is Stable.RATING RATIONALE:–The program’s pledged reserves and loan repayments, excluding federal subsidies, allow the bonds to withstand borrower defaults of up to 17.22% for four years without causing an interruption in bond payments. This is consistent with Fitch’s criteria for assigning an ‘AA’ rating given the loan pool’s borrowers’ credit quality, size and diversification.–The program, which consists of more than 260 borrowers, is diverse with low single-borrower concentration.–The program’s loan security is strong, with approximately 97% of all loans backed by a general obligation pledge and additional protection from borrower defaults through a state-aid intercept mechanism.KEY RATING DRIVERS:–The bond bank’s ability to balance future leveraging with program resources to maintain borrower default tolerance levels that pass Fitch’s ‘AA’ stress test scenarios is important to maintain the rating.–Credit quality of the bonds is also linked to repayment performance on the program’s loan portfolio.SECURITY:Program bonds are secured by borrower loan repayments and debt service reserve funds. A state moral obligation on the reserve fund and a state-aid intercept provision for borrowers provide additional credit enhancement.CREDIT SUMMARY:Established in 1970, The Vermont Municipal Bond Bank (VMBB) is a quasi-state agency. It is administered by a five-member board consisting of four gubernatorial appointees and the state treasurer. The bond bank issues bonds and uses the proceeds to make loans to local government borrowers throughout the state. Virtually all of Vermont’s eligible municipalities use the bond bank as their primary borrowing vehicle because it offers local government borrowers the lowest cost of capital.The loan pool consists of more than 260 borrowers from cities, towns, counties, school districts and other local governments throughout the state. Approximately 97% of all loans are backed by a general obligation pledge; the remaining are backed by utility pledges from five borrowers. About 52% of the loans are to school districts, which are further backed by an intercept mechanism that includes any state funds payable to borrowers. State aid is reportedly over 90% of school district debt service. The loan portfolio’s largest borrower, Springfield School District, comprises only 5% of the portfolio. The top 10 borrowers account for 32% of the total outstanding loan balance.Fitch analyzed the default tolerance of the VMBB loan pool using a stress test it also applies to state revolving funds and other municipal loan pools. The stress test considers loan quality, single risk concentration, reserve fund size, and debt service requirements. The program’s pledged reserves and loan repayments, excluding the federal subsidies, allow the bonds to withstand borrower defaults of up to 17.2% for four years without causing an interruption in bond payments. This is consistent with Fitch’s criteria for assigning an ‘AA’ rating given the loan pool’s borrowers’ credit quality, size and diversification (17.09%).With the 2011 -1 issue, VMBB offers its fourth series of federally subsidized bonds, Qualified School Construction and Recovery Zone Economic Development, which provide 0% and 45% in interest rate subsidies, respectively, offsetting the pool participants’ cost of borrowing. However, as the pool continues to leverage these issues, the program’s cash flow margins become tighter under Fitch’s stressed scenarios, which assume that no scheduled federal debt service subsidies are received. Per its report ‘Build America Bonds Broaden Municipal Market – Credit Considerations’ dated April 27, 2010, Fitch assesses the ability of the issuer to pay full interest on the BABs, regardless of the subsidy. While Fitch believes there could be offsets to some annual subsidy payments, it believes that VMBB management would take action to address the reasons for the offset and avoid multiple years with no subsidy, including the use of certain optional redemption provisions for its federally subsidized bonds. Nevertheless, the bond bank’s ability to balance future leveraging with program resources to maintain borrower default tolerance levels that pass Fitch’s ‘AA’ stress test scenarios is important to maintain the rating.The program’s debt service reserve fund, which is sized at the least of maximum annual debt service, 125% average annual debt service, or 10% of bond proceeds, is funded with bond proceeds and invested in U.S. treasury and agency securities. Pledged reserves, currently total $49.9 million, or 9.7% of bonds outstanding. In addition, the bank maintains approximately $10.9 million in unrestricted general fund reserves, which are not pledged to bondholders but may be used if a deficiency occurs. The bonds are also supported by a state moral obligation to replenish the debt service reserve fund if it falls below its minimum specified level. Neither the intercept nor the moral obligation has ever been utilized, because no borrower has defaulted on a loan repayment since the bond bank began operations in 1970.Loan payments are due 15 days before the bond payment dates. Under Vermont’s state intercept provision, if a borrower fails to make its scheduled loan repayment, the bond bank will certify the failure of that payment with the state treasurer. The state treasurer would then pay the defaulted loan amount to the bank’s trustee from amounts appropriated and payable by the state to the defaulted borrower, if available. If sufficient state aid is unavailable, it will be paid from subsequent interceptable state aid payments, with bond bank reserves covering the temporary shortfall. To date, this mechanism has not been tested as there have not been any loan defaults in the history of the program.Additional information is available at www.fitchratings.com(link is external).Applicable Criteria and Related Research:–‘Revenue-Supported Rating Criteria’ (Oct. 8, 2010);–‘State Revolving Fund and Municipal Loan Pool Rating Guidelines’ (April 28, 2008);–‘Build America Bonds Broaden Municipal Market – Credit Considerations’ (April 27, 2010).For information on Build America Bonds, visit www.fitchratings.com/BABs(link is external).Applicable Criteria and Related Research:Revenue-Supported Rating Criteriahttp://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=5…(link is external)State Revolving Fund and Municipal Loan Pool Rating Guidelineshttp://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=3…(link is external)Build America Bonds Broaden Municipal Market — Credit Considerationshttp://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=5…(link is external)  CHICAGO–(BUSINESS WIRE)–last_img read more

IAAFA, Bridge of the Americas

first_imgBy Geraldine Cook/Diálogo April 09, 2018 The Inter-American Air Forces Academy (IAAFA) offers a unique environment. Students receive an education focused on technical, operational, and professional instruction, while at the same time creating lasting alliances and strengthening solidarity among the U.S. Air Force and the air and security forces of partner nations in Latin America, the Caribbean. U.S. Air Force Colonel Isaac Davidson, IAAFA commandant, is proud of the welcoming academic environment at the institution and works to continue to develop that environment. As commandant of the school since August 2017, he is responsible for military and technical education offered yearly (mostly in Spanish) to more than 900 students from government agencies and air forces of 21 Latin American and Caribbean countries. IAAFA opened its doors in 1943 at the Albrook Air Force Station in Panama at the request of then Peruvian Air Force General Fernando Melgar, then Minister of Aviation. It was the first regional academic institution of the air forces to offer its members a shared forum to learn, debate, and plan. Since then, the number of students continues to increase. IAAFA put on its finest to celebrate its 75th anniversary. Col. Davidson spoke with Diálogo during the anniversary celebrations, which took place March 12th–16th in San Antonio, Texas. Among other events were the Third Western Hemisphere Exchange Symposium, a gala dinner, a flag parade, and an athletic competition for students. Col. Davidson talked about the importance of the symposium, the institution’s 75 years, and the benefits it brings to air forces of the region. Diálogo: The Third Western Hemisphere Exchange Symposium focused on four topics: humanitarian aid and natural disaster response; operations against drug trafficking; air space command and control; and aircraft upkeep and maintenance. What is the importance of these topics within the framework of IAAFA’s 75th anniversary celebration? U.S. Air Force Colonel Isaac Davidson, IAAFA commandant: We have a very big challenge in the region, for example, humanitarian aid, natural disaster response, and aircraft upkeep and maintenance. These challenges are shared throughout the Americas. It’s important to know how to respond to a natural disaster as a country and as an air force, how to cooperate not only among armed forces, but also with civilian and non-governmental organizations, and how to work with neighboring countries. This symposium was to go over the lessons learned of the different countries that experienced natural disasters, such as the earthquakes in Haiti, Ecuador, and Mexico in 2010, 2016, and 2017. Today, IAAFA plays an important role in handling these issues. The school provides a physical space and structure to learn. It’s an academic institution, and that’s what we do. The challenges change, and IAAFA responds to those challenges and changes. The point is not to meet the challenge, but to exceed the challenge. Diálogo: What is the added value that IAAFA offers Latin American and Caribbean air forces as it turns 75? Col. Davidson: By law, IAAFA offers training and education to military members throughout the Americas. However, it also offers education to other countries that are eligible to receive funding from the U.S. Department of State. The added value is that IAAFA fosters lasting friendships that allow opportunities for cooperation to be created. The impact that IAAFA has had in the past 75 years has been fundamental, especially because its students have forged lasting friendships. As a result of these friendships, it generated cooperation on security matters to the benefit of all the countries involved—the United States and the Americas in general. For example, there have been emergencies in different countries on multiple occasions, and the graduates and/or students find out that the person they need to contact in the other country was a graduate and/or a student at the same time. This completely changes the dynamic of the aid process, which, at the end of the day, benefits the countries themselves. This happens quite often with members of IAAFA. I am only repeating the words of generals and chiefs of the air forces, many of them IAAFA graduates, who say that the institution allowed them to have these friendships, along with the training and education they acquired, which create benefits and allow them to cooperate with each other whenever necessary. Diálogo: What does it mean for you to be at the helm of IAAFA’s 75th anniversary celebration? Col. Davidson: It’s a privilege that I truly do not deserve, but an opportunity that God has given me. With that in mind, I am a public servant just like the other members of IAAFA, since we are a great team. I am a public servant, and it comes from the heart. This is an opportunity that I wouldn’t miss for the world. I didn’t ask to come to IAAFA. Someone in the military hierarchy decided that, and I am very happy to be here today. Diálogo: What are IAAFA’s plans in the medium and long term? Col. Davidson: In the medium term, we want to formally connect in an effort to set budgets for what IAAFA needs to support the objectives of U.S. Northern Command, U.S. Southern Command, and U.S. Central Command. We also want to train our instructors more so they can strengthen their capacities. In the long term, we want to dramatically transform the way we teach so that it becomes a continuous learning process that’s much more dynamic, interactive, and successful. Diálogo: What kinds of educational changes are you referring to? Col. Davidson: Imagine you’re in a large room that has two interactive electronic panels, students have an electronic tablet, and all these devices can project images from the Internet or from any media, play a video, add notes, etc. All these means of information work at the same time. In the future, our education will be more virtual and will have a combination of online classes, in-person classes, and distance learning, and it will be continuous education. Traditionally, education was formatted so that teaching and learning happened in the classroom, and the lesson would begin at a specific time and end after an hour or two of class. This new learning model will be more continuous. Students will learn what they want to learn, when they want to, and where they want to. In other words, a student’s education won’t end when the course is over and the student graduates. On the contary, the student will continue to have access to class material and new academic materials. Diálogo: IAAFA has international instructors from partner nations. How is that exchange done? Col. Davidson: Partner nations have the opportunity to have instructors be a part of IAAFA. It’s a process that begins through the U.S. Embassy with the Office of Security Cooperation. The application eventually goes to IAAFA to be evaluated and for a decision to be made. We received commissioned and non-commissioned officer instructors from various countries who usually participate in the institution for a period of two years. It’s very valuable to have international instructors because they contribute to the institution’s mission. Diálogo: What are the benefits of having U.S. Air Force students interacting with those of partner nation air forces? Col. Davidson: There are many benefits because this interaction that happens at IAAFA means that we learn from each other—we learn from our partner nations, and they also learn from us. Founded on lasting friendships, IAAFA is a bridge to the Americas, and, for the Americas, IAAFA represents a bridge to the United States. IAAFA has been a bridge these past 75 years, as it has been for international security in the region. Diálogo: What is your message to the other air forces in the region? Col. Davidson: IAAFA is here for them, for our partner nations in the region. IAAFA’s name itself is proof of that. It’s a school that belongs to the Americas; it is the Inter-American Air Forces Academy. In this way, we are part of IAAFA, and each of our partner nations is part of IAAFA. This academy belongs to us so that we can educate ourselves, build our skills, and foster these fundamental long-term friendships.last_img read more

Bill would give legislators control of the Bar’s budget

first_img May 1, 2001 Regular News Bill would give legislators control of the Bar’s budget In a session filled with brushfires on judicial and Florida Bar independence, another blaze flared up in a technical bill on the state budget on April 17. The bill, PCB 01-67 by the House Fiscal Responsibility Council, would place both the budgets of The Florida Bar and the Florida Board of Bar Examiners under the Florida Legislature. The council passed the bill which mostly deals with technical budget issues but several members expressed reservations and said they expect the bill to be amended before final passage by the lower chamber. Rep. Timothy Ryan, D-Dania Beach, introduced an amendment to delete the Bar and the FBBE from the bill, but then withdrew it and two other amendments as committee members worked to move the technical budget bill quickly. Steve Metz, the Bar’s outside legislative advisor, spoke against the bill. He warned it raised separation of powers questions since the Florida Constitution delegates regulation of the legal profession to the Supreme Court. House Speaker Tom Feeney, however, was quoted in a St. Petersburg Times article as endorsing the changes, saying it was wrong to treat lawyers differently from other professions regulated by the state. The proposed bill amends Chapters 216 to define both the Bar and the FBBE as state agencies whose budgets are reviewed and approved by the legislature. At Bar News deadline, no Senate companion bill had been introduced. Bill would give legislators control of the Bar’s budgetlast_img read more

US to Send 450 More Troops to Iraq, Yet Congress Refuses to Authorize War

first_imgThe lack of a clear strategic end-game was crystallized by the administration’s decision to bolster the US troop presence in Iraq, just as ISIS has claimed more territory. In a conference call with reporters last week, a transcript of which was posted online, US officials asserted that the additional 450 troops would help train and “advise and assist” Iraqi security forces at Taqaddum military base in eastern Anbar Province. Troops will not be placed into ground combat, officials said. “The intent of the additional site is to provide personnel to assist with planning, integration, logistics, and support to the Iraqi security forces and tribal forces as they fight to retake Ramadi and Fallujah, and ultimately all throughout Anbar,” said Elissa Slotkin, Assistant Secretary of Defense for International Security Affairs.As more troops head overseas to assist the Iraqi army, US Congress remains non-committal with respect to authorizing the ISIS war. US troops and the American people are left to wait and see if its elected lawmakers act on their oath to discharge the duties of their office. Sign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York [dropcap]I[/dropcap]t was more than three years ago when the last remaining US service members were withdrawn from Iraq, capping a devastating nine-year war that saw more than 4,000 Americans casualties and countless survivors suffering traumatic physical and psychological wounds. As a war-weary American public is all-too aware, US troops have returned to Iraq to assist a seemingly dysfunctional Iraq army in what has now become a 10-month battle against the so-called Islamic State, also known as ISIS or ISIL. The number of troops there grew last week when the Obama administration—following a request from Iraqi Prime Minister Haider al-Abadi—authorized the deployment of 450 US troops, bringing to 3,550 the total number of US soldiers in Iraq. The administration’s decision to bolster the number of troops in the war-torn country follows troubling advances by ISIS, most notably its recent takeover of Ramadi, the capital of western Anbar Province. This time last year, ISIS routed the Iraqi army and claimed Mosul, which Iraqi security forces have failed to retake.While troops were preparing to embark on another mission in Iraq, albeit in an advisory role, Congress was offered the opportunity to vote on an amendment added to a defense appropriations bill that would’ve forced lawmakers to authorize the war against ISIS. That amendment failed to pass. For the last 10 months, the US has been fighting a war that has yet to be authorized by Congress, the only branch of government with the power to approve war. The Obama administration has been relying on a pair of post-Sept. 11 war authorizations—the 2001 AUMF and 2002 AUMF—to justify its war on ISIS. The administration often evokes those versions to validate its borderless drone war and to explain why it had the authority to kill a US citizen-turned-radical cleric in Yemen. The 2001 AUMF, drafted in the days following Sept. 11, in particular has been blasted by civil liberty groups as overbroad. That version gave President George W. Bush the authority to defend the nation against the perpetrators of the terrorist attacks, meaning al Qaeda. ISIS didn’t exist then. And although it was born out of the terror network, al Qaeda has since disavowed the group, partly due to its brutality. After Congress decided not to act in the months preceding the mid-term elections, the Obama administration proposed its own AUMF, which would remain in effect for three years. Yet, as US Secretary of State John Kerry explained in one of the few debates on Obama’s war authorization, the administration doesn’t believe it needs Congress’ legal endorsement. The Obama AUMF is essentially a symbolic move to ostensibly show the international community that US lawmakers, the military, and the executive branch are united in the effort to “degrade and destroy” ISIS. One day after Obama authorized the troop build-up, Congress was in session, debating a defense appropriations bill. Rep. Adam Schiff (D-CA) proposed an amendment that would’ve required Congress to vote on war authorization by March 31, 2016. If Congress failed to do so, funding for the ISIS war would’ve halted immediately. The amendment failed by a 196-231 vote. Long Island’s Congressional delegation voted along party lines, with Rep. Kathleen Rice (D-Garden City), Rep. Gregory Meeks (D-St. Albans), and Rep. Steve Israel (D-Dix Hills) voting in favor of the amendment. LI’s GOP contingent, Rep. Peter King (R-Seaford) and Rep. Lee Zeldin (R-Shirley), voted no. “If this is worth fighting ISIS, and I believe it is, it’s worth having Congress do its job,” Schiff said during his floor speech. “If we’re going to ask our service members to risk their lives, we ought to have the courage ourselves to take a vote on this war.” Schiff accused Congress of being “derelict” and slammed his colleagues for abdicating their duties. “During the course of that war, we have put our pilots and other service members at considerable risk and we have suffered casualties,” Schiff said. “We’ve expended hundreds of millions, if not billions of dollars. And as yet there is no end in sight to this conflict.”last_img read more

Is Wavell Heights the next hit suburb?

first_img14 Kinmond Ave, Wavell Heights sold at auction for $1.646 million.MOVE over Clayfield and Ascot, Wavell Heights is the new hit suburb with buyers seeking homes close to inner-city Brisbane.Today’s auction of a 1908 Queenslander on 1715sq m of land at 14 Kinmond Ave, Wavell Heights drew a crowd of around 100 people and 13 registered bidders.The iconic ‘Noora’ estate sold under the hammer for $1.646 million but Ray White Ascot’s Rosemary Ahearn said interest was due to more than just the property’s wonderful features.“I consider Wavell Heights to be the next suburb on fire, it already is,” she said.“There’s been huge movement in the bottom section of the market and that’s filtering through.”More from newsMould, age, not enough to stop 17 bidders fighting for this home3 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor9 hours ago14 Kinmond Ave, Wavell HeightsMs Ahearn said Wavell Heights, only 9km from the CBD, had always been a quality suburb.“There are 27 hills in Brisbane and Wavell Heights has all the old original homes with that lovely tree ambience,” she said.Today’s buyers were a couple with children seeking a larger property. “It’s just so hard to get the big blocks anymore because everything has been subdivided,” Ms Ahearn said.“We are delighted that it’s somebody who intends to keep the block as one and who values that old-fashioned large block and the ambience of that.”The median house price in Wavell Heights is $648,500, according to researcher CoreLogic.last_img read more

Queensland’s million-dollar suburbs triple: Look who’s joined the club

first_imgThis home on a large block with a tennis court at 56 Victoria Ave, Chelmer, is for sale.It’s good news for Kathy and Rod O’Connell, who are selling their home of 27 years in million-dollar club member, Chelmer.The suburb, which is 7km west of Brisbane’s CBD, has a median house price of $1.05 million, but the O’Connell’s home at 56 Victoria Avenue is likely to fetch much more than that.The five-bedroom, turn-of-the-century Queenslander on a massive 2704 sqm block has a swimming pool, tennis court and character features such as 14ft ceilings, decorative timber fretwork and an ornate fireplace. Rod and Kathy O’Connell at their Chelmer home. Picture: AAP Image/Claudia Baxter.IF you happen to live in one of these suburbs, congratulations – you’re part of Queensland’s burgeoning millionaire’s club.The number of suburbs with million-dollar medians has more than tripled in the state in just three years, according to the latest data provided exclusively to The Courier-Mail from property analytics company CoreLogic.There are now more than 30 suburbs in Queensland with a median house price of $1 million or more, compared to just nine suburbs in the middle of 2014.And there are another 22 so-called “bridesmaids” — suburbs with median house prices of $900,000 or more — nipping at their heels. Kalinga now has a median house price of $1 million. Picture: Mark Cranitch.The tiny, tightly-held pocket of Kalinga, 7km north of Brisbane’s CBD, is the newest suburb in the state to crack seven digits.Kalinga, which only officially became recognised as a suburb in 2015, now boasts a median house price of $1 million thanks to a number of big sales this year and increasing demand for Brisbane’s inner northern suburbs.“Overall the Brisbane market’s not necessarily that strong, but some of those blue chip areas in the inner north seem to be quite strong at the moment with lots of demand, and that’s pushing up prices,” CoreLogic research analyst Cameron Kusher said. REA Group chief economist Nerida Conisbee.Ms Conisbee said Townsville was starting to see a recovery from the mining downturn and the city’s premium suburbs were beginning to attract buyers.“People think it’s probably at the bottom of the cycle now,” she said.Three years ago, the only suburbs in Queensland sitting on median house prices above $1 million were Ascot, New Farm, Chandler, Teneriffe, Hamilton, Surfers Paradise, Sunshine Beach, Hawthorne and Bulimba. MILLIONAIRE ‘BRIDESMAIDS’Brookfield $992,500Auchenflower $990,000Runaway Bay $970,500Castaways Beach $965,000Rochedale $958,000Castle Hill $955,000Alexandra Headland $952,500Yeronga $942,500Upper Brookfield $940,100Carbrook $940,000Noosaville $940,000Kangaroo Point $935,000Taringa $935,000Willow Vale $930,000Gumdale $930,000Shelly Beach $917,500Milton $915,000Currumbin Valley $910,000Grange $904,000Bardon $903,000Noosa Heads $900,000Ashgrove $900,000(Source: CoreLogic) CoreLogic research analyst Cameron Kusher.“Interstate migration is picking up in southeast Queensland and people coming from Sydney are seeing what you can get for your money (in Brisbane’s inner north).” REA chief economist Nerida Conisbee agreed, noting Kalinga was the second most in-demand suburb in Queensland on realestate.com.au in the past six months.The state’s most expensive suburb continues to be Teneriffe, with its median house price jumping a massive 122 per cent in three years.Teneriffe is now on the cusp of becoming Queensland’s first ever $3 million suburb, sitting at $2.62 million. Penfold Property Group has significant greenfield land holdings in Pallara and surrounding suburbs.First National Metro agent Michael Hatzifotis said prices in the suburb had gone through the roof after a recent rezoning.“Not many people know about it,” he said.“Some people ring me up and don’t realise how expensive it is out there now.” Mr Hatzifotis said many buyers were keen to landbank because there was little land left in Brisbane with industrial zoning close to the CBD.“That’s the end goal for a lot of these people,” he said.“They’re looking to hold on to it, wait for it grow in value and then subdivide and sell it off.” The view over Townsville from Castle Hill. Photo: Lindsay Button.Castle Hill in Townsville, Alexandra Headland on the Sunshine Coast and Grange in Brisbane’s inner-north are among the next wave of “bridesmaid” suburbs waiting to join the million dollar club.Castle Hill’s median house price currently sits at $955,000, having risen 11 per cent in 12 months, and REA chief economist Nerida Conisbee expects it to hit seven figures very soon. QUEENSLAND’S NOD TO THE HAMPTONS HOUSE PRICE DROP WARNING HOMES MADE FOR CRICKET LOVERS This home at 56 Victoria Ave, Chelmer, is for sale for the first time in 27 years.Mrs O’Connell said the home was on one of the few large blocks of land left in Chelmer, as many of the tennis courts in the suburb had been sold off and developed.“We’re really going to miss the tennis court,” she said. “That was the main reason we bought the house, so our boys could play tennis and keep them out of trouble.”More from newsParks and wildlife the new lust-haves post coronavirus23 hours agoNoosa’s best beachfront penthouse is about to hit the market23 hours agoThe property is scheduled for auction on December 9 through Jason Adcock of Adcock Prestige.Mrs O’Connell said Chelmer had a community-feel and its tree-lined streets were close to good schools, a train station, parks, shops and restaurants.QLD’S MILLIONAIRE SUBURBS – DOES YOURS MAKE THE CUT?Suburb Median house priceTeneriffe $2.62mSouth Brisbane $1.6485mNew Farm $1.575mMermaid Beach $1.52mMain Beach $1.5125mPallara $1.51mAscot $1.47mSurfers Paradise $1.3875mChandler $1.325mSt Lucia $1.2835mBulimba $1.26mFig Tree Pocket $1.2mWilston $1.2mClear Island Waters $1.195mHighgate Hill $1.188mSunshine Beach $1.15mClayfield $1.135mHawthorne $1.125mWest End $1.1225mSpring Hill $1.1mPullenvale $1.085mBroadbeach Waters $1.08mHamilton $1.08mParadise Point $1.05mBundall $1.05mChelmer $1.05mSamford Valley $1.04mBalmoral $1.0275mHendra $1.01mRobertson $1.005mKalinga $1mPaddington $1m(Source: CoreLogic) This huge house at 52 Henry St, Kalinga, recently sold for $1.9 million. Teneriffe is Queensland’s most expensive suburb with a median house price of $2.62m.Ascot, New Farm, Hamilton, Bulimba and Hawthorne have all retained their spots on the elite list, but some of the newer suburbs are not your usual suspects.The outer suburb of Samford Valley, 20km from Brisbane’s CBD, is also in the million dollar club with a median house price of $1.04 million – up 16 per cent in 12 months. Mr Kusher said it classified as a “lifestyle” suburb similar to Pullenvale and Chandler. GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX HERE He said appetite for big properties on acreage was also spreading to the Gold Coast, with suburbs like Currumbin Valley now boasting a median house price of $910,000.The little known suburb of Pallara, 13km from Brisbane’s CBD, is one of the biggest surprises, with its median house price jumping a massive 47 per cent in just 12 months to $1.51 million.last_img read more

Funding at largest Dutch schemes stands at 80% in real terms – DNB

first_imgThe average coverage ratio for the largest pension funds in the Netherlands now stands at about 80% in real terms, according to recent statistics compiled by the financial regulator (DNB). BpfBouw, the €54bn scheme for the Dutch building sector, is the exception among the five largest schemes, with a real funding of 90%.The coverage ratio relative to inflation at the €372bn civil service scheme ABP stands at 80.6%, while the ratio at the €179bn healthcare fund PFZW is slightly worse at 78%.Real funding at the large metal schemes PMT and PME was estimated at 79.5% and 79.3%, respectively. The Dutch regulator has started publishing real-funding figures for the first time, as well as statistics on the costs pension funds incur for administration, asset management and transactions.It said this was part of its aim to improve transparency with respect to its supervisory work and increase information regarding pension funds’ financial positions.Last year, the regulator began publishing data on schemes’ premiums, indexation and official ‘policy funding’ – the 12-month average of actual funding, and the criterion for rights cuts and indexation.Of the approximately 250 pension funds in the Netherlands, 19 boast a real funding of more than 100%.With real funding of about 166%, SPMS, the €10bn occupational scheme for medical consultants, is in the best position.The pension funds HAL, Forward (Unilever) and Provisum (C&A) also enjoy relatively high real coverage, of 156%, 134.5% and 127.3%, respectively.With a funding in real terms of 71.7%, the pension funds for dental technicians, Tandtechniek, and Hoop Terneuzen are at the lowest end of the scale.The five largest pension funds reported asset management costs of between 0.61% (ABP) and 0.32% (PME), with the Alliance (Nestlé) and Mars schemes incurring the highest costs, of 1.14% and 1.5%, respectively.Positive exceptions are the pension funds of Ford Netherlands and GPs in training, which both spent 0.13% on asset management.Transaction costs at the five largest schemes ranged between 0.06% (ABP) and 0.10% (PMT and BpfBouw).Several pension funds, including Nielsen AC, Norit and Cosun, have kept the cost of their deals limited to 0.01%, according to DNB.The €67m Pensioenfonds Calpam, which received the Pensioen Pro award for best pension fund in the Netherlands last year, paid 0.02% for transactions and 0.17% for asset management.Despite administration costs of €1,383 per participant, its real funding came in at 133%.Meanwhile, in other news, Jetta Klijnsma, state secretary for Social Affairs, said she would assess the possible effect of a longer recovery period on pension funds’ financial positions.The new financial assessment framework (nFTK) allows for a recovery term of 10 years.During a debate in Parliament, Klijnsma said she would look into whether this option could offer respite to pension funds facing rights cuts.last_img read more

Homebuyers revert to ‘closed plan’ design as privacy is back in vogue

first_img >>FOLLOW EMILY BLACK ON FACEBOOK<< Deb Fitzgerald at her new home in Raby Bay. She moved a few doors down to take advantage of a closed plan layout. IMAGE: Tara Croser.Home buyers are losing interest in what was the ever-popular open plan design as they start to remember, or realise, the benefits of a more closed layout. Eight of the best time warp homes Interior stylist Emma Blomfield says it is easier to style a closed floorplan. IMAGE: SuppliedInterior stylist Emma Blomfield said it was easier to style these spaces as well.“Styling a closed floor plan is a little easier than an open plan space as you have walls dictating where you place furniture and how big you can go with the size of your sofa, armchairs and dining tables,” Ms Blomfield said.“A closed space dining room generally only offers one layout for the table making it easy to work out where to place everything and what size/shape dining table to purchase. Staying together is better RELATED: Ms Carroll said the demand was so great that she found it harder to sell new homes with an open plan design, versus those built in the 1990s and prior.More from newsParks and wildlife the new lust-haves post coronavirus13 hours agoNoosa’s best beachfront penthouse is about to hit the market13 hours ago“Homes that have been built in the last five to 10 years, the more open plan ones, I find them harder move,” she said.“The older more traditional style … for families that are in that mode where they’ve got teenagers or teens, they’re just looking for that sense of privacy as well as having that space for everyone to enjoy together.”When it comes to building new, Burbank national general manager residential Louis Sultan said they were starting to see more demand for a separate living space that could be closed off.“We have seen an increase in homebuyers wanting a separate living space that can be closed off from the main living area, providing a place to relax,” Mr Sultan said.“The desire for a socially engaged family lifestyle has led to demand for alfresco spaces that can be used for dining and entertaining so now almost every home we offer now includes an alfresco area as a standard offering.” MORE: Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:51Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:51 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p432p432p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenStarting your hunt for a dream home00:51 Golden oldie lands suburb’s biggest 2019 sale “The same goes for a closed space lounge room, one wall is for the TV, another is for the sofa to go against and then you work within the rest of the space.” Waterline Real Estate principal Christine Carroll said buyers were concerned with mounting heating and cooling costs, noise and the lack of privacy — especially for families with teenagers.“Only this week I’ve been taking a gentleman through homes and his biggest problem is finding a house that will have the media room, separate lounge, somewhere for a gym, somewhere for his teenagers to hang out when they come and stay and also an open space to entertain in,” Ms Carroll said.“Our own home is one of those homes that’s open plan and one of our biggest issues was heating and cooling.“When we bought it we felt that it was a nice design and we could do things with it, but after living in it we’ve actually had to add on to provide us with that extra separation that we really couldn’t achieve.” Deb Fitzgerald is looking forward to the privacy her closed plan layout will give her and her grandchildren. IMAGE: Tara Croser.Archicentre Australia director Peter Georgiev said open planned living came about as a counter to the bygone era approach of closeting the kitchen from social activities.“This developed further in the 1990s to extend transparency between kitchen, living and outdoor areas, say a deck or terrace, to the other cooking zone — the barbecue area,” Mr Georgiev said.“Along with opening up come potential disadvantages, so architectural tailoring of design needs to take into account some balance, use of wing walls or giving spatial definition to alcoves or vaulted ceilings.”For homeowner Deb Fitzgerald, the need to convert from open plan to closed plan was so great, she sold and moved few doors up on the same street.“We have grandchildren now, and when they come … they’re watching things on television that you don’t want to watch and they want space, that makes thing a bit difficult,: Mrs Fitzgerald said.“Also the fact that we do have grown up children coming to visit, having a separate space can make that a little bit easier.”last_img read more

Pommec’s eTWIN LARS for BC-opleidingen Diving School

first_imgDiving systems manufacturer and supplier, Pommec, has received an order to build the eTWIN, a fully electrical driven twin basket diver Launch and Recovery System (LARS) from BC-opleidingen, a diving school in the Netherlands.The Pommec LARS will give the diving school extra opportunities to train their commercial and navy diver students with all procedures that have to be taken into account when diving with a LARS.BC-opleidingen have built a brand new facility in Enkhuizen, the Netherlands.Pommec’s LARS comes with two separate diver baskets operated from one A-frame. Both baskets will have their own clump weight. Cable wires will be handled by stainless steel direct-electrical driven main (2x) and secondary (2x) winches specially rated for personnel handling.Winches and A-frame are operated via remote control.last_img read more