Saleh, whose son and nephew command the powerful Republican Guard and Central Security forces, stepped down in February after more than a year of protests. The opposition accuses him of meddling in state affairs and trying to undermine reform efforts by his successor, Abed Rabbo Mansour Hadi.A big demonstration was organized in Taiz, Yemen’s second most populous city. Smaller rallies took place in other cities.(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.) New Year’s resolution: don’t spend another year in a kitchen you don’t like Associated PressSANAA, Yemen (AP) – Tens of thousands have rallied in Yemen’s capital, Sanaa, and several other cities to demand the removal of the former president’s relatives and allies from key military and security positions they still hold.The demonstrators took to the streets after Friday prayers vowing to continue their protests until the sons and family members of former president Ali Abdullah Saleh are expelled from their posts. Comments Share More Valley freeways to be closed this weekend for improvements Think Tank analyzes the second round of Democratic debates 4 must play golf courses in Arizona Top Stories Sponsored Stories Meghan McCain to release audiobook on conservatism, family New high school in Mesa lets students pick career paths 5 treatments for adult scoliosis
Top Stories The economic conditions have helped spark small but growing protests in the West Bank. Last week demonstrators halted traffic in key Palestinian cities.There are some 154,000 Palestinian civil servants, and their salaries help keep their extended families out of poverty.Abbas spoke to reporters Saturday in the West Bank city of Ramallah.(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.) Comments Share Ramallah, WEST BANK (AP) – Palestinian President Mahmoud Abbas says that government employees will not receive full salaries this month because donor countries have not delivered promised aid.The U.S. and Arab countries have failed to come through this year with the aid money they have pledged, leaving the Palestinian Authority that governs much of the West Bank in a budgetary shortfall that has contributed to rising prices and delays in the payment of government salaries. Bottoms up! Enjoy a cold one for International Beer Day Former Arizona Rep. Don Shooter shows health improvement Mary Coyle ice cream to reopen in central Phoenix The vital role family plays in society Sponsored Stories Patients with chronic pain give advice 5 things to look for when selecting an ophthalmologist
Former Arizona Rep. Don Shooter shows health improvement New Year’s resolution: don’t spend another year in a kitchen you don’t like Garment exports are Cambodia’s major foreign exchange earner, and as many as 400,000 people work in hundreds of factories in the Phnom Penh area.The government tries to strike a balance between workers’ demands for higher pay and employers’ desires to keep wages low. Many factories are subcontractors for large Western brands. The factories involved in Monday’s incident produce trousers for U.S. and European markets.There has been an outpouring of grief for the late king, who since abdicating in favor of his son Norodom Sihamoni in 2004 spent much of his last years in China for medical treatment. Although Prime Minister Hun Sen’s relations with Sihanouk were cool at best, he has taken care to arrange the proper ceremonies and show his respect.China’s government was a steadfast friend of the late monarch, and it arranged the plane on which his body was returned.The Chinese official news agency Xinhua reported Tuesday that Foreign Ministry spokesman Hong Lei in Beijing called the factory supervisor “wrong” in her actions.(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.) Associated PressPHNOM PENH, Cambodia (AP) – A Cambodian court found a Chinese factory supervisor guilty on Tuesday of desecrating pictures of the country’s recently deceased former king and ordered her deported.The court found Wang Zia Chao guilty of violating statutes on insulting the monarchy and gave her a one-year suspended jail sentence and a 2.5 million riel ($620) fine.She was also ordered to pay 2 million riel ($500) in compensation to a worker at the factory who had demanded her prosecution. Construction begins on Chandler hospital expansion project Mary Coyle ice cream to reopen in central Phoenix Top Stories Comments Share 5 greatest Kentucky Derby finishes The case appeared to be the first in recent decades in which the vaguely worded lese majeste law was applied.The 43-year-old Chinese woman caused an uproar Monday at a garment factory complex in Phnom Penh’s outskirts when she cut up two photos of former King Norodom Sihanouk that workers were carrying before the morning shift. She accused them of shirking work.Sihanouk, who led Cambodia through peace and war, died Oct. 15 in Beijing at age 89. His body was returned last Wednesday to his homeland, where it was taken to the Royal Palace for a week of official mourning.The factory supervisor told the court Tuesday that she did not know the photos were of the late monarch. “If I knew, I would not have ripped them up,” she said.More than 1,000 outraged workers marched Monday to the palace to demand she be punished, The factories’ managers fired her and turned her over to the authorities.Phnom Penh police chief Lt. Gen. Chuon Sovann said Monday that if police had not arrived on time, the woman would have been in danger of being physically attacked by the workers.The case touched some sensitive nerves. Foreign investors are a key element in Cambodia’s economic growth, while workers represent a potentially powerful domestic political force. 5 treatments for adult scoliosis Bottoms up! Enjoy a cold one for International Beer Day Sponsored Stories
Associated PressBEIJING (AP) – If China’s leadership were a one-man show, Li Keqiang might have landed the Communist Party’s top job Thursday. He was President Hu Jintao’s preferred successor, but the need to balance party factions meant that the post went to consensus candidate Xi Jinping.Li instead will play a different but still pivotal role within the seven-man council where Beijing’s power is centered. As China’s presumptive premier, he will be charged with steering its mammoth economy, which is slowing after years of double-digit growth. Parents, stop beating yourself up Beijing hadn’t acknowledged the problem yet, and Li oversaw a campaign to squelch reporting about it, harass activists and isolate affected villages. When the government finally did go public four years later, Li showed canny political instincts by quickly channeling government assistance to victims and making public shows of compassion.Li has called for structural reform of China’s economy, citing the need for greater balance, coordination and stability. In an April speech to the Boao Forum, a gathering of government officials and business leaders in southern China, he said China wants to create an “open, transparent, fair, competitive, and predictable marketplace and legal environment.”Yet similar pledges have been made many times before, including in China’s latest Five Year Plan. Questions remain about Li’s willingness to take on vested interests, particularly in the state-owned enterprises, said Patrick Chovanec, a business professor at Beijing’s Tsinghua University.“It remains to be seen whether Li will come out as a leader, or just follow a weak, watered-down consensus,” Chovanec said.That demand for consensus severely constrains the scope of any administrative reform, even though Li and the party say they are necessary, said U.S. Naval Academy China scholar Yu Maochun. Former Arizona Rep. Don Shooter shows health improvement Construction begins on Chandler hospital expansion project 0 Comments Share Bottoms up! Enjoy a cold one for International Beer Day Top Stories Mary Coyle ice cream to reopen in central Phoenix “You can’t change the key parts of China’s economic structure without fundamentally changing China’s political structure, so I don’t expect much” from Li, Yu said.Since his 2007 appointment to the Standing Committee, Li has overseen modest progress in his areas of responsibility, including public health, food safety and housing, which have long been plagued by funding difficulties, lax supervision and soaring prices.He’s maintained a steady, if low-key, schedule of meetings and speeches. A visit last year to the Chinese autonomous region of Hong Kong attracted the greatest attention _ though not necessarily for the right reasons.The stifling security surrounding Li and his unwillingness to meet with political critics seemed to cast him as a typical Chinese leader, tone deaf to public opinion in the former British colony, which maintains political freedoms and its own legal system.Li has largely steered clear of the webs of corruption surrounding other leading Chinese officials, although questions have been raised over whether his brother’s powerful position at the government tobacco monopoly clashes with Li’s role in making health policy. Li’s formative years are typical of the fifth generation of communist leaders. He was introduced to politics during the chaotic 1966-76 Cultural Revolution, then entered the prestigious Peking University.After graduation, Li went to work at the Communist Youth League, an organization that grooms university students for party roles, and at the time was led by Hu.After serving as Henan governor, Li’s next posting was in the northeastern rustbelt province of Liaoning, where he oversaw a revival that drew foreign investment from BMW and Intel.(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.) Sponsored Stories Arizona families, Arizona farms: providing the local community with responsibly produced dairy Check your body, save your life Li, currently vice premier, will not officially succeed Premier Wen Jiabao until March, but with Wen out of the leadership lineup announced Thursday, the transition has begun.Li’s relationship with Xi remains ambiguous, although the two are expected to follow the existing model under which Hu stayed somewhat aloof as head of state while Wen acted as the public face of the administration.Xi and Li, who speaks English and is married to an English professor, are seen as part of a generation of leaders more comfortable with the West than their predecessors, said Ding Xueliang of Hong Kong University of Science and Technology.“Their reference for great power status from Day One was the United States, unlike Hu Jintao and Wen Jiabao, who looked toward the Soviet Union,” Ding said.Li has been a cautious bureaucrat who rose through, and is bound by, a consensus-oriented Communist Party that has been slow to reform its massive state-owned enterprises while reflexively stifling dissent. He has been an enforcer, keeping a lid on bad news, but has also been able to rapidly reverse course.He was governor of the agricultural province of Henan in 1998 during an unusual explosion of AIDS cases. Tens of thousands of people had contracted HIV from illegal blood-buying rings that pooled plasma and reinjected it into donors after removing the blood products.
Parents, stop beating yourself up Writing for the court, Justice Samuel Alito said the justices wouldn’t take up the disability rights issue because it hadn’t been fully considered by lower courts.Qualified immunity protects public officials from being sued for damages unless the official violated a constitutional right that was clearly established at the time of the misconduct.Six justices agreed that the police officers could not be sued in this case. Justices Antonin Scalia and Elena Kagan wrote separately to say they would have dismissed the case entirely. Justice Stephen Breyer took no part in the case, as his brother was the federal judge who heard the case.The case had attracted attention from mental health advocates who said that failing to take account of a suspect’s disability often results in unnecessary shootings by police.Law enforcement groups also weighed in, saying a ruling in Sheehan’s favor could undermine police tactics, place officers and bystanders at risk and open them to additional liability.The ADA generally requires public officials to make “reasonable accommodations” to avoid discriminating against people with disabilities. But lower courts have split on how the law should apply to police conduct when public safety is at risk. Sponsored Stories Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Ex-FBI agent details raid on Phoenix body donation facility Former Arizona Rep. Don Shooter shows health improvement Milstead says best way to stop wrong-way incidents is driving sober The difference between men and women when it comes to pain Comments Share WASHINGTON (AP) — The Supreme Court ruled Monday that police are immune from a lawsuit arising from the arrest and shooting of a mentally ill woman in San Francisco.But the justices left undecided the question of whether police must take special precautions when arresting armed and violent people suffering from mental illness.The case involved a 2008 incident in which two police officers forced their way into Teresa Sheehan’s room at a group home and shot her five times after she came at them with a knife. Sheehan claimed the officers should have used less confrontational tactics because they are covered by the Americans with Disabilities Act. That law requires “reasonable accommodations” for people with mental illnesses. 4 sleep positions for men and what they mean Top Stories New Valley school lets students pick career-path academies The Supreme Court initially took up the case because the city argued that the disability act does not apply when police face armed and dangerous suspects. But then attorneys for the city changed their argument to say that Sheehan was not “qualified” for an accommodation under the law. Alito said it would not be “prudent” to decide a question that hadn’t been fully considered by lower courts.In Sheehan’s case, her social worker called police for help in restraining her so she could be taken to a hospital for treatment. Officers entered her room with a key, but Sheehan threatened them with a knife, so they closed the door and called for backup. But they said they weren’t sure whether Sheehan had a way to escape, and were concerned that she might have other weapons inside.The officers then forced their way in and tried to subdue her with pepper spray. But she continued to come toward them with the knife and was shot five times.A federal district court sided with the police, ruling that it would be unreasonable to ask officers trying to detain a violent, mentally disabled person to comply with the ADA before protecting themselves and others. But the 9th U.S. Circuit Court of Appeals said a jury should decide whether it was reasonable for the officers to use less confrontational tactics.
TEHRAN, Iran (AP) — The trial of a Washington Post reporter detained in Iran for nearly 10 months will begin next week, a defense lawyer representing the Iranian-American journalist said Tuesday.State TV and other news outlets quoted an unnamed judiciary official as saying the first session of the trial of Jason Rezaian, 39, will be held next Tuesday. The official did not say whether the hearing would be open to the public. Arizona families, Arizona farms: A legacy of tradition embracing animal care and comfort through modern technology Top Stories Baron said a lack of evidence should have led to the case being dismissed long ago. The Post is trying to secure an Iranian visa that would allow a senior editor to be present during the trial, but previous requests have gone unanswered, he said.He urged Iran to make the court proceedings public and transparent.“Iran must now belatedly demonstrate that it can act with openness and fairness,” he said. “The world will be watching.”___Schreck reported from Dubai, United Arab Emirates.Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Comments Share Clean energy: Why it matters for Arizona Milstead says best way to stop wrong-way incidents is driving sober Sponsored Stories Ex-FBI agent details raid on Phoenix body donation facility New Valley school lets students pick career-path academies It said two other suspects who were detained alongside Rezaian will also be tried.Rezaian’s defense lawyer, Leila Ahsan, confirmed the report. She told The Associated Press that she learned of the hearing from news outlets but confirmed the news with the court.Ahsan said Rezaian will go on trial alongside his wife, Yeganeh Salehi, who is a reporter for The National newspaper in Abu Dhabi, and a freelance photographer who worked for foreign media. The photographer’s name has not been made public.Ahsan reiterated that Rezaian has been charged with “espionage” and other offenses, and said it was not yet clear whether the trial would be open. Ahsan declined to comment further because of the sensitivity of the case.Iranian officials have previously said Rezaian will stand trial in a Revolutionary Court, which mainly hears sensitive cases in closed sessions.Rezaian, his wife and two photojournalists were detained on July 22 in Tehran. All were later released except Rezaian, who was born and spent most of his life in the United States, and who holds both American and Iranian citizenship. Iran does not recognize dual nationalities for its citizens.U.S. officials have repeatedly pressed Iran to release Rezaian and other jailed Americans, including during talks on the sidelines of negotiations over Tehran’s nuclear program. Iran and world powers hope to reach a comprehensive agreement on its contested nuclear program by the end of June. The Post also has repeatedly criticized Rezaian’s detention and the handling of his case, and alleges he has been subjected to harsh interrogations and lengthy stretches of time in solitary confinement. It says he has only been allowed one substantive meeting with his lawyer — in the presence of official translators — to prepare for trial.“The serious criminal charges that Jason now faces in Iran’s Revolutionary Court are not supported by a single fact,” Executive Editor Martin Baron said in a statement Tuesday after the court date was announced.“The proceedings against him have been anything but fair and open – if they had been, Jason would never have been subjected to outrageous prison conditions, obstacles to selecting a lawyer, limited time to prepare a defense, and an inadequate window on the case that Iran plans to bring against him.”The judge assigned to hear the case, Abolghassem Salavati, is known for his tough sentencing and, according to the Post, rejected several other choices of lawyers to represent Rezaian. Salavati has presided over numerous politically sensitive cases, including those of protesters arrested in connection with demonstrations that followed the 2009 presidential elections. Former Arizona Rep. Don Shooter shows health improvement How men can have a healthy 2019
Fletcher said the forecast production levels were at the top end of their expectation and would depend on global economic growth, particularly in the Chinese and Russian markets.Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Sponsored Stories Former Arizona Rep. Don Shooter shows health improvement Ex-FBI agent details raid on Phoenix body donation facility 0 Comments Share Top Stories 3 international destinations to visit in 2019 The deal is expected to create 500 jobs at Lamborghini’s Sant’Agata factory near Bologna, reinforcing the country’s long-suffering auto sector.The launch of the Urus SUV, which was unveiled as a concept at the Beijing Auto Show in 2012, also broadens Lamborghini’s portfolio beyond two sleek two-seat super sports cars — the Aventador and the Huracan — into the expanding SUV market.IHS Automotive lead analyst Ian Fletcher said the Urus SUV is an important addition to the Lamborghini brand, with the potential to attract new customers “who find the dramatic styling of Lamborghini products appealing, but find its typical sports cars restrictive.”The Urus SUV is expected to enter the market in 2018 with a production of 3,000 vehicles a year, more than doubling Lamborghini’s current output of 2,530. Lamborghini, which is owned by Volkswagen AG, said it will invest hundreds of millions of euros to expand the Sant’Agata factory from 80,000 square meters to 150,000 square meters.Winkelmann said the third model in Lamborghini’s portfolio will determine “stable and sustainable growth of the company and mark a turning point.” MILAN (AP) — Super sports carmaker Lamborghini confirmed Wednesday it will enter the luxury SUV market and signed a deal to produce the new vehicle in Italy after receiving more than 80 million euros ($87 million) in government incentives.Lamborghini CEO Stephan Winkelmann said at the signing ceremony in Rome with Premier Matteo Renzi that the Italian package “was the most competitive and won” against a rival bid from Slovakia. New Year’s resolution: don’t spend another year in a kitchen you don’t like Milstead says best way to stop wrong-way incidents is driving sober Men’s health affects baby’s health too Automobili Lamborghini President and Chief Executive Officer Stephan Winkelmann, right, shakes hands with Italian Premier Matteo Renzi at Rome’s Palazzo Chigi, Wednesday, May 27, 2015. Lamborghini announced Wednesday it will produce a new SUV in Italy after receiving government incentives. (AP Photo/Alessandra Tarantino) New Valley school lets students pick career-path academies
New Valley school lets students pick career-path academies Natural spring cleaning tips and tricks for your home BANGKOK (AP) — Thai customs officials said Monday they seized 250 kilograms (550 pounds) of ivory — or about 130 tusks and pieces — hidden in crates being shipped from Africa to Asia.The haul was headed from Congo to Laos and transited through several countries in between, said the deputy director-general of Thailand’s Customs Department, Chamroen Photiyod. He said Thai authorities received a tip-off and began tracking the shipment when it left Addis Ababa airport in Ethiopia. Here’s how to repair and patch damaged drywall Top Stories Ex-FBI agent details raid on Phoenix body donation facility 5 things to look for when selecting an ophthalmologist Sponsored Stories On Friday, authorities at Bangkok’s Suvarnabhumi Airport stopped the shipment which was inside two wooden crates marked “marble pieces” that contained four suitcases with the ivory inside, Chamroen told a news conference.The ivory was worth an estimated 10 million baht (US$295,000), he said.This is the 11th ivory seizure the Thai Customs Department has made this year.Thailand is a major transit hub and destination for smuggled tusks, which are often carved into tourist trinkets and ornaments.Poachers have killed tens of thousands of African elephants for their tusks in recent years to meet demand for ivory in Asia.Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Mesa family survives lightning strike to home 0 Comments Share How Arizona is preparing the leader of the next generation
Virgin Australia will officially change its carrier code from DJ to VA this year as part of the carrier’s Game Change program.Commencing 13 January 2013, all DJ flights will be replaced by the corresponding VA flights.As part of the change reissue will be required for all SQ 618 tickets issued on or before 12 January 2013 with a DJ flight or SQ code share flight operated by DJ. Travel agents are required to reissue the affected SQ 618 tickets after you have received the schedule change advice in the bookings from 13 January 2013. Reissue is still required for no change to SQ code share flight number and booking class, as VA will operate the SQ code share flight. Change penalty and reissue fee do not apply due to flight schedule change.The new mapping for SQ/MI fares and VA booking classes:SQ/MI fares VA booking classZ class fares VA J classC class fares VA C classJ class fares VA D classD class fares VA I classS class fares VA Y classY class fares VA B classB class fares VA H classE class fares VA K classM class fares VA L classH class fares VA E classW class fares VA N classQ class fares VA V classN class fares VA Q classV class fares VA T classT class fares VA T class VA replaces Virgin Australia’s DJ carrier code Source = e-Travel Blackboard: N.J
Tourism is on track to reach 1980s and 1990s growth rates, according to Tourism Australia chairman Geoff Dixon.Speaking at the Committee for the Economic Development of Australia this month, Mr Dixon explained although there is a need for greater flexibility in the market and infrastructure investment, Australian tourism is “getting its mojo back”, The Brisbane Times reported.He added further stimulation would get tourism closer to its “halcyon days” and coming to terms with the high value of the Australian dollar could help find new, innovative concepts to boost the sector.”Rewards for getting this right are enormous for our economic wellbeing in general, for enabling us and our neighbours to better understand and interact with each other, and for the future employment prospects of hundreds of thousands of young Australians,” he said.Touching on the Sydney Airport debate, Mr Dixon told attendees he found the situation to be “bizarre” and believes infrastructure spend should be focused on access.”The current airport is nowhere near operating to its full potential.”At the PATA Hub City Forum in Sydney this month, tourism leaders also agreed it was time for a change at Sydney Airport.Click here for more information. Source = e-Travel Blackboard: N.J Tourism boss says we need to come to terms with the situation that is. Image: Webintravel.com
The two projects will be the most expensive non-resource projects in Australia so far. However, locals are happy with neither plan and they are also campaigning against the recent approval of the Aquis project. Queensland Deputy Premier Jeff Seeney said that the projects would create over 10,000 operational tourism jobs. Several overseas casino operators have won their bids to build casinos down the Queensland coastline but a bid by famous Australian golfer Greg Norman has been rejected. The ASF plan is thought to be not so certain because of its proximity to the Great Barrier Reef, with growing opposition to the plan. Queensland’s Newman government has approved two separate bids by Hong Kong billionaire Tony Fung and the ASF consortium for two regional “integrated casino licences”, The Australian reported. ASF’s plan includes a marina and cruise terminal. Source = ETB News: Tom Neale
Treasure Island, Stay 4, Pay 2, Book NowTreasure Island Resort released a limited special offer which offers savings of 50 percent when staying for four nights. This can be extended for extra days at an additional cost still offering great savings. The sale for this special is up until the 30th of June 2015 with travel till the 31st March 2016. The offer is for new bookings only and space is limited; conditions and block out dates do apply so for further details, please contact our team on email@example.comTreasure Island Resort and Bounty Island Resort are two of Fiji’s most popular island resorts. Treasure Island being our four-star resort offers 68 traditionally-styled and recently renovated bures, along with a sophisticated restaurant and bar, impressive three-tiered swimming pool and a highly acclaimed kids’ club! Bounty Island Resort offers fantastic, affordable accommodation. Setting the standard for the Fiji Islands in budget accommodation, this resort is ideal for every traveler looking for paradise on a shoe string.Both resorts have that truly authentic Fijian experience and this genuine hospitality is contagious and the main reason we have so many return guests. We pride ourselves on our quality product and service and we look forward to welcoming you to our beautiful islands.Treasure IslandSource = Treasure Island Fiji
Air Astana takes delivery of first Airbus A321neoAir Astana takes delivery of first Airbus A321neoAir Astana, the award-winning Kazakh flag carrier, has taken delivery of the first A321neo at the Airbus facility in Hamburg, Germany. The aircraft is on an operating lease from Aercap, with the deal including two further A321neo and one A320neo aircraft for delivery planned in 2018.The Air Astana A321neo is configured with 28 Business Class and 151 Economy class seats, all of which are equipped with personal IFE systems. The A321neo is powered by the latest generation Pratt & Whitney engines, which together with aerodynamic improvements, make it the quietest aircraft in its class and also delivers fuel consumption 15% lower than the previous model. The cabin features larger overhead-bin capacity and a new mood-lighting system with LED technology.The aircraft will be operated on Air Astana’s network of domestic and regional routes.Air Astana currently operates 13 A320 aircraft and one A320neo, which was delivered in 2016. The carrier plans to increase the fleet of A320neo family aircraft to 17 by 2020.About Air AstanaAir Astana, the national carrier of Kazakhstan, operates flights to over 60 domestic and international routes from hubs in Astana and Almaty. The company was incorporated in late 2001 and commenced operations on 15 May 2002. Air Astana fleet consists of Boeing 767, 757, Airbus A319, A320, A320neo, A321 and Embraer 190 aircraft. Air Astana became the first carrier from Russia, the Commonwealth of Independent States (the CIS) and Eastern Europe to be awarded the prestigious 4-Star rating by Skytrax at its World Airline Awards 2012 and was also named ‘The Best Airline in Central Asia and India’ that year. Both achievements were repeated in 2013, 2014, 2015, 2016 and 2017.Source = Air Astana
First-time claims for unemployment jumped 15,000 to 382,000 for the week ended September 8, the “”Labor Department””:http://www.dol.gov/ reported Thursday. [IMAGE]Several states “”reported increases in initial claims, “”as a result of Tropical Storm Isaac,”” which increased the total by about 9,000. Economists had predicted a smaller increase, to 370,000.At the same time, the number of filings in the previous week was revised up to 367,000 from the originally reported 365,000. Continuing claims ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô reported on a one-week lag ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô dropped 49,000 to 3,283,000 from the prior week’s 3,332,000, revised from the originally reported 3,322,000.Coming at the beginning of the month, this week’s reports will not affect the Employment Situation report for September to be released at the beginning of October by the Bureau of Labor Statistics. The report ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô tracking the nation’s unemployment rate and job creation ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô is compiled based on payroll and household surveys for the week of the month including the 12th calendar day. The weather factor makes comparisons with prior reports inconclusive. In the aftermath of Hurricane Katrina in 2005, claims jumped 96,000 with virtually all of the increases attributable to the storm.[COLUMN_BREAK]Even without the estimated impact of Isaac in the current report, claims increased 6,000, the largest week-over-week increase since the end of July when claims rose 11,000. The upward adjustment to the prior week’s report was the 32nd time this year the preliminary data was revised higher. The four-week moving average of first time claims increased 3,250 to 375,000, the highest level in eight weeks, the fourth consecutive weekly increase. The four-week moving average of continuing claims fell 7,500 to 3,316,500 from 3,324,000.The total number of people claiming benefits in all programs ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô reported on two week lag – for the week ending August 25 was 5,391,576, down 78,465 from the previous week. Most of the decline came in two categories: emergency claims which fell 40,543 and regular state benefits which dropped 30,101. State programs have been shaved due to state budget pressures and the depletion of state unemployment insurance trust funds while Congress imposed new restrictions on emergency claims. States have been borrowing from the federal government to cover shortfalls in those funds which will eventually have to be repaid ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô unless Congress intervenes ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô with higher assessments on employers. Since those assessments are a percentage of payrolls, they discourage employers from adding new workers. As of September 6, 20 states have and aggregate $25.6 billion in outstanding loans to cover shortfalls, led by California which has borrowed almost $9.6 billion.States reported 2,223,071 persons claiming EUC (Emergency Unemployment Compensation) benefits for the week ending August 25, a decrease of 40,543 from the prior week the Labor Department said. There were 3,066,671 persons claiming EUC in the comparable week in 2011.According to the Labor Department detail, also reported on a one-week lag the largest increases in initial claims for the week ending September 1 were in Pennsylvania (+1,639), Nevada (+1,351), Michigan (+915), Texas (+804), and Iowa (+691), while the largest decreases were in Florida (-1,923), North Carolina (-1,566), Georgia (-1,199), Puerto Rico (-1,101), and New Jersey (-789). Agents & Brokers Attorneys & Title Companies Bureau of Labor Statistics Investors Jobs Labor Department Lenders & Servicers Payrolls Processing Service Providers Unemployment 2012-09-13 Mark Lieberman September 13, 2012 415 Views Isaac Pushes Up First-Time Unemployment Claims in Data, Government, Origination, Servicing, Technology Share
Agents & Brokers Attorneys & Title Companies FHFA Investors Lenders & Servicers Movers & Shakers Processing Service Providers 2012-12-14 Tory Barringer December 14, 2012 443 Views “”Federal Housing Finance Agency””:http://www.fhfa.gov/Default.aspx (FHFA) deputy director Stephen Cross will retire from his post in March 2013, according to an announcement from acting director Edward DeMarco.[IMAGE]Cross has served as FHFA’s deputy director of the Division of Federal Home Loan Bank Regulation since the agency’s creation in 2008. In addition to leading the agency’s program for regulating and supervising the Federal Home Loan Banks, he was also acting COO from September 2009 to December 2011.Cross joined the Federal Housing Finance Board–one of FHFA’s predecessors–in 2002, serving as director of the Finance Board’s Office of Supervision. Prior to that, he worked as director of the FDIC’s Division of Compliance and Consumer Affairs and as deputy comptroller for community and consumer policy with the Office of the Comptroller of the Currency (OCC).””Steve Cross has served a vital role at FHFA during a period of upheaval in the housing and financial markets and significant development and change at FHFA,”” DeMarco said. “”We are grateful for his oversight of many important and positive developments at the FHLBanks as they continue to strengthen their condition in the wake of the financial crisis, as well as many other contributions to this agency.””Before he departs, Cross will help the agency in searching for a new deputy director to take his role and to oversee the completion of the 2012 bank examinations.””It has been a privilege to work with a dedicated group of professionals at the FHFA,”” Cross said. “”I am humbled by the opportunities I was provided, and I am proud of the quality of our supervision of the FHLBanks during a period of challenge and change for the FHLBanks and the housing finance system as a whole.”” in Data, Government, Origination, Secondary Market, Servicing FHFA Deputy Director to Retire from Agency in 2013 Share
Micoley.com to Host Online Auction for Illinois Properties June 26, 2013 435 Views in Data, Government, Origination, Secondary Market, Servicing, Technology Agents & Brokers Attorneys & Title Companies Company News Investors Lenders & Servicers Processing Service Providers 2013-06-26 Esther Cho Share “”Micoley.com””:http://www.micoley.com/ is hosting an online auction featuring 20 residential and multifamily properties in Northwest Illinois. [IMAGE] [COLUMN_BREAK]All properties are located in the town of Kewanee, and online bids can be placed now until the auction event ends Saturday, July 27. Potential buyers can learn more details about the properties by visiting “”Micoley.com””:http://www.micoley.com/, where they can alo register to place bids. Opening bids for all properties in Kewanee are below $50,000.””All of these properties are a perfect purchase for investors interested in potential rental properties. Home sizes range from 1 bedroom to 5 bedrooms and multi-family homes. They are all great investment properties and are priced to sell,”” said Wade T. Micoley, president of Micoley.com. The auction company recommended that all bidders conduct their due diligence and obtain all property information and also visit the property in person when possible.
Profits Rise at Wells Fargo as Housing Perks Up Bank Earnings Credit Quality Quarterly Profits Wells Fargo 2014-07-11 Tory Barringer Wells Fargo reported strong financials for the second quarter, driven in part by an uptick in mortgage lending and ongoing improvements in credit quality.The megabank reported $5.7 billion in net income for the quarter, up 4 percent over $5.5 billion a year prior. For the year’s first half, Wells Fargo took in $11.6 billion in net income, up nearly $1 billion compared to the same period in 2013.”Our strong results in the second quarter reflected the benefit of our diversified business model and our long-term focus on meeting the financial needs of our customers,” said John Stumpf, chairman and CEO of the bank. “Our results also reflected strong credit quality driven by an improved economy, especially the housing market, and our continued risk discipline.”Coming from the nation’s biggest name in mortgages—and the first megabank to release Q2 results—Wells Fargo’s report serves as the first sign of how consumer lending fared throughout the quarter. Next on the schedule is Citigroup on July 14, followed by JPMorgan Chase on July 15.On the home lending side, Wells Fargo reported mortgage originations of $47 billion, up from $36 billion in the first quarter, with applications pulling up $12 billion to a total of $72 billion.The bank’s application pipeline also nudged up to $30 billion as of the end of June compared to $27 billion at the end of the first quarter.Though an improvement from a slow first quarter, those figures are all still less than half of where they were a year ago, demonstrating again how much housing has cooled.Meanwhile, the bank reported another $500 million reserve release, reflecting improvements in credit quality as a result of the housing recovery. Charge-offs on bad loans also declined from the first quarter, falling to $717 million from $825 million before.”Credit performance continued to improve in the second quarter as credit losses remained at historically low levels, nonperforming assets continued to decrease and we continued to originate high quality loans,” said Mike Loughlin, chief risk officer.Loughlin added that the bank continues to expect future reserve releases, though not as high “as the rate of credit improvement slows and the loan portfolio continues to grow.” July 11, 2014 446 Views in Daily Dose, Headlines, News, Origination Share
in Daily Dose, Featured, Government, News Independent monitor Thomas J. Perrelli has credited Citi with another $208.6 million in consumer relief toward its $2.5 billion obligation under the terms of a July 2014 settlement with the U.S. Department of Justice and five states for selling toxic residential mortgage-backed securities to investors before the financial crisis.The amount credited to Citi in the most recent report brings the total of consumer relief provided by the bank up to $897.7 million, putting it approximately a third of the way toward its obligation. The bank has until 2018 to pay the $2.5 billion in consumer relief it agreed to in the settlement.The $208.6 million was provided in four different categories covering the third quarter of 2015 (July 1 through September 30, 2015). The relief was provided in 2,654 transactions across four categories: Rate reductions or refinancings, donations to community development organizations, donations to legal services organizations, and donations to HUD-approved counseling agencies. The majority of the transactions (2,561 of them) were in the rate reductions or refinance category.Prior to Monday’s report, Perrelli had credited Citi with $689.1 million in consumer relief covering 15,800 transactions.A Citi spokesperson declined to comment on the monitor’s report.Citigroup settled with the DOJ and five states (California, New York, Illinois, Massachusetts, and Delaware) for a total of $7 billion in July 2014 amid claims that the bank misled investors as to the quality of mortgage-backed securities it sold. The portion of the penalty that went to the DOJ was $4 billion, which was the largest civil penalty to date under the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA). The report released Monday was Perrelli’s fifth since the settlement was reached.Click here to see Perrelli’s complete report released Thursday. Monitor: Citi Makes Progress in Paying Settlement Debt Citi Consumer Relief Settlements 2016-06-27 Seth Welborn June 27, 2016 568 Views Share
in Daily Dose, News, Origination November 11, 2016 546 Views Are Subprime Originations Making a Comeback? Subprime mortgage originations hit their highest level in seven years during Q2 while near prime originations reached a post-recession high, according to recently-released data from TransUnion.TransUnion’s Q3 2016 Industry Insights Report found that subprime originations (viewed in one-quarter arrears to account for reporting lag) totaled 64,000 in the second quarter, which was an over-the-year increase of nearly 11 percent and the highest level since the fourth quarter of 2009. Also in Q2, Near prime originations rose to their highest number since the Great Recession, up to 262,000 (a 5.7 percent increase).However, TransUnion said they are not concerned about another potential crash, since subprime and near prime loans represent a relatively small share of the overall originations market. Mortgage originations overall rose to 1.99 million in Q2, an increase of 3.7 percent over-the-year.“Mortgage originations have experienced steady growth across all risk tiers, and these new milestones in subprime and near prime account originations reflect growing credit access across the risk spectrum,” said Joe Mellman, vice president and mortgage business leader for TransUnion. “While access has grown, it’s important to note that the subprime share of originations was only 3.2 percent, and the near prime share was 13.2 percent of all originations. We do not see a cause for concern.”In the third quarter, total mortgage balances reached $8.25 billion, in increase of 1.7 percent over-the-year, according to TransUnion.“The increase in mortgage balances was primarily driven by continued low interest rate availability supporting origination growth and higher home values leading to higher average new loan amounts,” Mellman said.The overall quality of mortgage loans improved in Q3, as the mortgage delinquency rate declined by 8.4 percent down to 2.29 percent—the lowest level in seven years.With an over-the-year increase of $17 billion in Q3, the outstanding balance for personal loans passed $100 billion for the first time. The number of consumers with a personal loan increased by 1.5 million over-the-year in Q3, according to TransUnion.“The consumer credit market is performing well, as more consumers are gaining access to loans and paying them off in a timely fashion,” said Nidhi Verma, senior director of research and consulting in TransUnion’s financial services business unit. “We continue to see strong participation rates from the youngest consumer group, coupled with low delinquency levels—a promising sign for the industry.”Click here to view TransUnion’s complete Q3 Industry Insights report. Share Near Prime Originations Subprime Originations 2016-11-11 Seth Welborn
Home Prices HOUSING Indices mortgage real estate Residential S&P CoreLogic Case Shiller Index 2018-03-25 Radhika Ojha March 25, 2018 541 Views The Week Ahead: Spotlight on Housing Prices On Tuesday, S&P Dow Jones Indices will release the January data of the S&P CoreLogic Case-Shiller Home Price Indices at 9 a.m. EST. The S&P CoreLogic Case-Shiller Home Price Indices measure U.S. residential real estate prices, tracking changes in the value of residential real estate nationally and across 20 metropolitan regions.According to the December Home Price Indices data released in February, the National Index posted a month-over-month gain of 0.2 percent in December. The 10-City and 20-City Composites both reported increases of 0.2 percent. After seasonal adjustment, theNational Index recorded a 0.7 percent month-over-month increase in December, while the 10-City and 20-City Composites both posted 0.6 percent month-over-month increases. Twelve of the 20 cities measured by the index reported increases in December before seasonal adjustment, while all 20 cities reported increases after seasonal adjustment.Here’s what else is happening in the Week Ahead:First American Real Home Price Index, Monday, 9 a.m. ESTMBA Mortgage Apps data, Wednesday, 7 a.m. ESTNAR Pending Home Sales Index, Wednesday, 10 a.m. ESTUniversity of Michigan Consumer Sentiment Survey, Thursday, 10 a.m. ESTFed Balance Sheet, Thursday, 1 p.m. ESTFreddie Mac Primary Mortgage Market Survey, Thursday, 9 a.m. EST Share in Daily Dose, Featured, News