Fund – JVC Europe Fri, 07 May 2021 14:56:26 +0000 en-US hourly 1 Fund – JVC Europe 32 32 Milton Savings Bank Announces New CEO | News, Sports, Jobs Wed, 07 Apr 2021 23:14:29 +0000

The board of directors of Milton Savings Bank recently announced a change in the bank’s executive management.

As of March 22, Robert “Bob” Crane has been appointed Managing Director of Milton Savings Bank.

Crane will replace Scott Pfaff who worked for the bank for over 9 years. In a recent press release, the Board of Directors expressed appreciation for the many years of dedicated service Crane has provided.

Crane brings over 25 years of banking experience to Milton Savings Bank and comes to us from Northumberland National Bank where he served as Chief Financial Officer.

Previously, Crane was Director of Profitability for Kish Bank at State College. Crane is a graduate of the College of William and Mary in Virginia and resides in Lewisburg with his wife and son.

The change in leadership will allow the bank to grow profitably and better serve its customers and the community with new product offerings, such as improved digital banking tools, upgraded bank website and other customer services.

“I am delighted to be working for Milton Savings Bank, which has a long and rich history in the community of Milton,” Said Crane. “The bank is very proud of the quality of its staff and its family atmosphere”, Crane says “I also appreciate the bank’s board of directors, who are committed to staying relevant in the Milton community. The bank is determined to be a strong resource for its customers and will continue to have a vital and positive impact on the community. “

The Milton Savings Bank recently celebrated its 100th anniversary, having started in 1920 as the Building and Loan Association of Milton. In 1955, it became the Savings and Loan Association of Milton, then became the Milton Savings Bank in 2003. The Milton Savings Bank is a federally chartered mutual savings bank with a full-service branch at 80 Broadway in Milton. As of December 31, 2020, the bank had $ 70.7 million in assets and $ 39.7 million in loans.

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Biden celebrates anniversary of affordable care law in Ohio – Courthouse News Service Wed, 07 Apr 2021 23:14:29 +0000

Biden said his $ 1.9 trillion US bailout builds on the foundation of the Affordable Care Act by expanding health care coverage and reducing premiums.

President Joe Biden speaks with members of the press before boarding Air Force One from John Glenn Columbus International Airport on Tuesday, March 23, 2021, in Columbus, Ohio. (AP Photo / Evan Vucci)

COLUMBUS, Ohio (CN) – On the 11th anniversary of the Affordable Care Act on Tuesday, President Joe Biden visited a cancer research and treatment hospital in Ohio and touted his plan to help Americans weather the health and economic crises during the remainder of the pandemic beyond.

After visiting James Cancer Hospital and the Solove Research Institute at Ohio State University in Columbus as part of his “Help is Here” tour, the president called the Affordable Care Act a “historic achievement” and noted that the law had helped to spread the influence. hospital oncology department with a grant of $ 100 million.

The president reiterated his desire to “end cancer as we know it” during his tenure.

“It’s within our grasp,” he said. “Just as DARPA (Defense Advanced Research Projects Agency) has helped us bring everything from the Internet to GPS, I’m going to suggest to my friends in Congress to launch a similar operation at the Department of Health called ARPA-H, to make new health breakthroughs and find cures for cancer and other diseases, by investing millions of dollars in pharmaceutical companies for research they are unwilling or not doing the capacity. I know we can find breakthroughs. ”

Biden said his $ 1.9 trillion US bailout builds on the foundations of the Affordable Care Act by expanding health care coverage, reducing premiums and covering those who have lost their care. insurance when they lose their job by covering COBRA insurance for up to six months.

“On this anniversary, we must remember how close we came to losing this act for which we fought so hard,” he said. “And we have a duty not only to protect it, but also to improve it and continue to become a nation where health care is a right for all and not a privilege for a few.”

Biden announced the extension of a special enrollment period, telling Americans they have until Aug. 15 to sign up for a plan through the Affortable Care Act.

Eric Sieber, PhD, who is the director of the Center for Health Outcomes and Policy Evaluation Studies at Ohio State, said in an interview with Courthouse News that the effects of the Covid-19 pandemic on insurance markets are still unknown.

“We know that 20% of Americans have lost their jobs, but we don’t yet have the data to know where they got their insurance coverage,” he said, adding that the broader healthcare market could fill these gaps.

The American Rescue Plan also focuses on increasing the supply and distribution of vaccines and helping individuals and businesses that have suffered economically as a result of the pandemic.

“Through no fault of their own, millions of people have lost their jobs. Children are hungry through no fault of their own. Millions of Americans are unable to make their mortgage or rent payments, ”Biden said, highlighting the plan’s $ 1,400 stimulus payments that many Americans have recently received that have helped more than $ 10 million. Ohians.

Sieber said the latest round of payments was “essential for households.”

“A lot of them really struggled, and this round really kept them afloat,” he said. “Many past stimulus payments have been recorded and used over time, but this cycle is used immediately, to pay the bills.”

Biden said his plan’s support for small businesses will help keep them open and noted that economists “left, right and center” have acknowledged that expanding small business lending “will create more than $ 7 million. additional jobs and increase economic growth ”.

The president also discussed the tax credits available under the US bailout, touting the expansion of the earned income credit and tax credits for parents. “It will change your life. He believes this will do more to end child poverty in America more than anything we’ve ever done.

President Biden reminded Americans to stay socially aloof and wash their hands, as recommended by the CDC. “And get vaccinated when it’s your turn.” It is a patriotic responsibility that you have. “

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Governor Cuomo Announces Sumitomo Rubber USA to Invest $ 122 Million to Increase Production Capacity at Tonawanda City Plant Wed, 07 Apr 2021 23:14:29 +0000

Governor Andrew M. Cuomo today announced that Sumitomo Rubber USA will invest $ 122 million in its plant in the city of Tonawanda, which will create 30 new jobs. SRUSA’s capital investment will include major replacement and upgrades of production equipment and other equipment. The plant currently manufactures around 9,000 tires per day for cars, motorcycles, trucks and buses, and the investment will allow production to almost double to 17,500 tires per day. The facility will be 100 years old in 2022, and the modernization will solidify the long-term economic future for the tire maker in western New York.

“The multi-million dollar investment in the Sumitomo Rubber plant is another strong signal of confidence in the promise of New York’s western economy to bounce back from the pandemic,” Governor Cuomo said. “The future success of New York manufacturers depends on their hardworking employees and their ability to maximize production in response to growing market demand.” I congratulate Sumitomo for creating this opportunity to grow and modernize a factory with a long history of success in the region. “

“Sumitomo Rubber’s investment in its Tonawanda plant is testament to New York’s economic development initiatives and the manufacturer’s long-term commitment to western New York,” said Lieutenant Governor Kathy Hochul. “The investment will include major upgrades and modernization of production equipment at the nearly century-old facility, while protecting the long-term future of those currently employed and creating 30 new, well-paying jobs. “

ESD helps SRUSA purchase new mixers, tire manufacturing, drying presses and additional advanced equipment by providing up to $ 3.3 million under the Excelsior job tax credit program in exchange job creation commitments. SRUSA is one of the largest manufacturing employers in western New York City, with an average annual salary starting at $ 50,000 per year. It plans to complete the installation of the new equipment by December 2023.

Eric Gertler, Interim Empire State Development Commissioner and President and CEO-designate, said: “Sumitomo Rubber’s $ 122 million investment will nearly double production at the Tonawanda tire plant and keep this nearly 100-year-old site competitive. West New York is growing, increasing productivity and investing in the jobs of the future. ”

Sumitomo Rubber USA Chairman and CEO Yasutaka Ii said: “Sumitomo Rubber has a long history at this Tonawanda plant. Our customers appreciate the products produced in this factory by our dedicated and talented employees. With the extraordinary support of our local governments in Tonawanda and western New York, and this strong signal of commitment from the Governor and the State of New York through incentives for the development of the Empire State, we look forward to remaining a strong employer and great corporate citizen in this community.

Located along the Niagara River in Tonawanda, NY, SRUSA’s sprawling 2 million square foot manufacturing facility has a long and proud history in Western New York dating back to groundbreaking activities in 1920. Its core business is the manufacture of tires for passenger vehicles, commercial trucks, bus markets and motorcycles. The sprawling complex includes manufacturing, warehouse and related offices for SRUSA’s U.S. headquarters on 130 acres of land. This is SRUSA’s only tire plant in the United States and tires manufactured at this plant are sold throughout North America. For more information on SRUSA, please visit

Senator Sean Ryan said: “Sumitomo Rubber has long been a leading employer and economic engine in Western New York State, and this significant investment will strengthen their presence in Tonawanda for many years to come.” As we work to rebuild our economy, well-paying manufacturing jobs like those at Sumitomo Rubber will fuel our recovery. This expansion and continued commitment will advance our workforce and our regional economy. “

MP William Conrad said: “This investment in Tonawanda Town is good for business and for the residents of my district. Sumitomo Rubber is a prominent neighbor on the Niagara River, offering high paying jobs with solid benefits. I salute Sumitomo’s efforts to evolve and grow, and I thank its management for taking good care of its highly deserving employees. I join the community in wishing Sumitomo Rubber continued success. “

County Director Mark Poloncarz said: “This significant $ 122 million investment from Sumitomo is good news for Erie County, creating thirty new jobs and significantly increasing production at the Tonawanda plant. Tires made here are traveling across North America , and as the Sumitomo plant nears its 100th anniversary, this modernization will keep them rolling for the next century. “

Joseph Emminger, Supervisor of Tonawanda Town, said: “I would like to thank Sumitomo Rubber USA for its trust and investment in its Tonawanda plant. For over 100 years, Sumitomo, formerly Goodyear Dunlop, has believed in its people and that Tonawanda and New York State are the right place to grow their business. , and we look forward to working with them to make it happen. ”

About Empire State Development
Empire State Development is New York’s premier economic development agency. The mission of EDD is to promote a strong and growing economy, encourage the creation of new jobs and economic opportunities, increase the revenues of the state and its municipalities and achieve stable local economies. and diversified. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to strengthen investment and growth of private businesses to stimulate job creation and supporting thriving communities in New York State. ESD is also the primary administrative agency that oversees Governor Cuomo’s regional economic development councils and the marketing of “I LOVE NY”, the state’s iconic tourism brand. For more information on regional councils and the development of the Empire State, please visit and

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CCS offering an employability skill class Wed, 07 Apr 2021 23:14:29 +0000

DOBSON – Surry County electricity customers usually don’t have a choice of their service provider – but competitive spirit isn’t necessarily a good thing either, due to an unusual situation surrounding a planned prison in Dobson.

Faced with the choice of awarding a contract to power the new detention center to Duke Energy or Surry-Yadkin Electric Membership Corp., the Surry Board of Commissioners chose the latter, but in a split decision.

This result reflects the concerns of some commissioners that while the electric co-op will offer lower costs in the short term due to what one dissenter calls “teaser rates,” county taxpayers could face significant expenses. higher in the long run by not choosing Duke.

“I’m not interested in teaser rates,” Commissioner Eddie Harris said of a special economic development tax offered by Surry-Yadkin for seven years, calling it “intangible” and adding that he focused more on the decades to come.

“Life is a long time – it’s forever.”

“Both are great companies, it’s not about that,” said Commissioner Van Tucker, who voted against the use of Surry-Yadkin in a meeting without Harris, being Outclassed by fellow Commissioners Bill Goins, Larry Johnson and Mark Marion.

In a subsequent meeting, Tucker sided with Harris on the losing side of a motion to try to undo that action which produced a 3-2 vote.

“I think this is the best business deal for the taxpayer,” Tucker added Wednesday afternoon.

Based on figures gathered by Harris, he estimates that the average cost of using the Surry-Yadkin service – after the seven years – would be $ 103,170 per year compared to $ 93,579 for Duke Energy.

Marion, the chairman of the board, disagrees with this scenario, saying he chooses to go with guaranteed savings in the short term rather than betting on lower rates possible by Duke later.

“It was obvious to me, because no one can predict the future,” Marion explained Wednesday afternoon.

“The first year, it saves us $ 8,000,” and so on during the special period, he said of the deal that asks Surry-Yadkin to reassess the rate situation afterwards. its end.

Marion said market conditions make it difficult to predict the outlook for energy prices seven years from now, with what Duke could charge so uncertain today.

“Nobody knows,” said the chairman of the board. “If the power rate (in general) increases, Duke will also increase.”

“No Man’s Land”

The unusual situation allowing such a debate concerns the location of the new prison on a property adjacent to the existing detention center near the Dobson center.

“It’s right behind,” Harris said earlier this week.

Although each electricity supplier has a separate presence in different parts of the county, the new prison site would be in “No Man’s Land,” meaning county officials had a choice between the two.

In March, commissioners approved the issuance of up to $ 50 million in limited bond bonds in fiscal year 2021-2022 to build the prison and fund another project for Elkin City schools. Most of it is the detention center.

“It’s a $ 40 million project,” Harris said.

Almost everything else in town is served by Duke Energy, according to the State Road Community Commissioner, who acknowledged that the co-op provides electricity to some facilities, including the Surry County Health and Nutrition Center, near the US 601.

Duke Energy already has infrastructure at the new prison site, including a nearby “right there at the Forensic Center” substation, which Harris said points to another factor in Duke’s favor: reliability.

“In is no more reliable than that,” Harris said of the particular substation’s proximity.

Meanwhile, the Surry-Yadkin Electric Membership Corp. the closest is in Salem Fork, about four miles as the crow flies.

The co-op initially offered its discount rate for a five-year period, but apparently got wind that at least some board members were leaning towards Duke Energy, Harris said. Surry-Yadkin then extended that two-year period and also said he would sell the county government a generator at cost.

Harris says he’s researched the problem extensively, navigating a maze of websites detailing kilowatt-hour charges and other complexities, and says it’s obvious Duke Energy will be the “much less” option. dear ”after seven years. “I spent a lot of time on this.”

Duke can’t offer teaser rates because under the laws that govern her, which are different from the co-op, she must treat all customers the same, Harris said.

“According to anyone’s analysis, Surry-Yadkin Electric Membership Corp. is more expensive electricity and it will cost taxpayers tens or even hundreds of dollars in the long run, ”he said. “What you really have to do is compare apples to apples.”

Process questioned

In addition to the financial implications of the power contract, Harris and Tucker have issues with how the decision unfolded.

At a meeting of commissioners on April 5, the county council voted 3-1 to award the power contract to the cooperative, a decision highlighting the absence of one of its five members.

“I buried my mother that day,” Harris revealed.

Another bone of contention is the board of directors discussing the matter beforehand in a closed session, which is usually reserved for very sensitive issues regarding personnel or economic incentives for a new industry, among others.

County Attorney Ed Woltz, in a letter later in the month, defended this discussion based on a provision in the North Carolina Open Meetings Act regarding information about offers submitted by vendors of electricity. The lawyer’s position is that this only became public after the contract was awarded.

The law states that an elected body “may” hold a closed session even on the most sensitive issues, not that it must.

“I think it was a deal big enough for taxpayers that we should have had an open discussion,” Commissioner Tucker said on Wednesday. “I think this is the best deal for the taxpayer.”

At another meeting on April 19, Harris spoke at length against actions taken earlier in the month due to his absence at the time.

There was also an attempt on April 19 to cancel the contract award to Surry-Yadkin, reflecting Harris and Tucker’s desire to continue education. He failed in a 3-2 vote.

As a result of this action, it was learned that Commissioner Marion’s father had a long association with Surry-Yadkin Electric Membership Corp., which is based in Dobson.

“I’ll just say that Surry-Yadkin has always been a good business for the community,” Marion replied Wednesday, when asked about this relationship.

“My father who worked there for 43 years had no bearing on my vote.”

Not a done deal?

Despite two votes on the matter, it may still not be set in stone, according to Tucker.

“It’s a done deal once you vote and sign a contract.”

Tucker said that hadn’t happened earlier this week.

“I don’t think it’s too late,” he observed of the possibility of changing the current course of action, which Commissioner Harris recognizes as being in order.

“At first glance, this is really wrong,” he said of the electrical service decision.

“It was wrong for many reasons.”

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Short’s Brewing cancels beloved birthday party for second year Wed, 07 Apr 2021 23:14:29 +0000

BELLAIRE, MICH. – The popular Short’s Brewing Company Spring Birthday Party will take another hiatus this year in the name of public health.

The Bellaire-based brewery today announced the cancellation of its 17th Anni Party due to the lingering COVID-19 crisis, marking the second year in a row that the company has decided to suspend the April event for measures security in the event of a pandemic.

The annual block party style shindig, enjoyed by many craft brewery fans, is known to include highlights like bike stunts and flamethrowers, in addition to live music and rare or never-released beers.

Over the years, the event has grown to regularly draw over 3,000 people to downtown Bellaire – a number that is three times the city’s population year round.

“Of course we’re disappointed, but neither are we,” Short owner and founder Joe Short said in a statement. “It is important to me that our birthday party brings our community together to celebrate our power of smallness in a big way. We just can’t do that this year and keep everyone safe at the same time.

In a video Released with the announcement, Short vowed that next year’s Anni Party, which will mark the 18th year since the brewery opened in a renovated hardware store, would be “the most incredible celebration.”

“We are optimistic that by 2022 COVID-19 will be far enough in our retrospective that we can party with confidence and make up for the two parts we missed,” he said.

Those who had previously purchased 2021 Anni Party tickets can either keep tickets to use to attend Short’s Fest 2021 or Short’s Anni Party 2022 – “whichever comes first,” according to a company statement – or can redeem the tickets. via this link by May 1, 2021 for a gift card to Short’s plus $ 5 to cover ticket costs. Ticket holders with further questions should send an email to

“We are resilient,” said Short. “We have been able to pivot and manage everything this pandemic has thrown at us, and we are so grateful to our community – both local and national – for continuing to support our small brewery.


Short’s popular ginger lime mule beer will become a flavor for cannabis gummies

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Gateway ends 20th anniversary with record mortgage production Wed, 07 Apr 2021 23:14:29 +0000

JENKS, Okla – () – Gateway First Bank, one of the largest Oklahoma-based banks and one of the largest mortgage banking operations in the United States, ended 2020 with a record residential mortgage production.

With an increased number of homeowners refinancing and taking advantage of lower interest rates, Gateway said it funded more than $ 1 billion per month in residential mortgages in six different months of 2020. In October 2020, Gateway set an all-time record for monthly financing volume of over $ 1.1 billion in loans in one month. Overall, Gateway funded more than $ 11.3 billion in mortgages in 2020, surpassing the previous year’s record of $ 7.7 billion in funded loans in 2019.

Gateway has coped with the COVID-19 crisis, running the business through challenges of working from home and closing the office. The company successfully transferred more than 1,400 team members to remote work in two weeks and maintained high-level production, helping more than 53,600 families achieve or maintain their dream of homeworking. property. Gateway also offers more than 85,000 mortgages.

“Gateway’s commitment to customers and team members has been our top priority,” said Scott Gesell, CEO of Gateway. “We have invested in talent and technology, improved operational rigor, focused on quality with a strong emphasis on our corporate culture. By putting people first, Gateway’s culture is strong and will continue to be the engine of its current and future success.

“Since the start of the pandemic in early 2019, we have faced unique new challenges. I am extremely proud of the way the team responded and continued to demonstrate a strong dedication to customer satisfaction. The record production we are experiencing in 2020 would not have been possible without the commitment to excellence. Throughout the growth and transition, the Gateway team has remained true to its core mission of strengthening families and communities, ”added Gesell.

Gateway also expanded its reach across the United States by opening 17 new mortgage centers, bringing the total number of centers to 163. Eight additional mortgage centers will open in the first quarter of 2021 to meet increased demand from local communities for real estate financing. Gateway has also expanded to two new states – Georgia and Wyoming – bringing the total footprint to 42 states and the District of Columbia. As part of ongoing efforts to actively reach undeserved markets, including low to moderate income communities, Gateway opened a new mortgage branch in North Tulsa in fall 2020.

In 2019, Gateway Mortgage merged with a 100-year-old community bank to become Gateway First Bank. Over the past year, deposits have increased significantly and several new retail and commercial banking products have been introduced to the market. A new flagship banking center opens in February 2021 on the Jenks corporate campus, bringing the number of banking centers to seven.

Gateway was named Top Workplace in 2020 for the eighth consecutive year by The Oklahoman newspaper.

About Gateway First Bank

Gateway First Bank is a leading financial institution providing banking and mortgage services to consumers and business customers. Based in Jenks, Oklahoma, Gateway is a $ 1.8 billion asset bank with a strong mortgage operation. Gateway is one of the largest banking and mortgage operations in the United States with six bank branches in Oklahoma, more than 160 mortgage centers in 42 states and nearly 1,600 employees. Learn more about FDIC Member, Equal Housing Lender (NMLS 7233)

Follow Gateway First on Facebook (, LinkedIn ( and Twitter (

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Igloo brings back the iconic Little Playmate cooler for its 50th anniversary Wed, 07 Apr 2021 23:14:29 +0000

Remember that the Little Playmate cooler by Igloo?

The iconic cooler that has become “America’s lunchbox” is back to celebrate its 50th anniversary.

In honor of his birthday, Igloo brought back the 7-liter cooler (it holds nine cans) in nine colors.

The brand also created a documentary-style short just for fun that depicts the little playmate’s journey from concept to lunchbox called “The birds and the beers.”

“This film chronicles what initially led Igloo to create the Playmate Cooler, its rise to pop icon status through constant appearances in film and television, earning its place as the best-selling cooler of all time. , and all the most remarkable and exciting moments in between. . Viewers will be taken on a visual adventure of the Playmate’s 50-year pioneering journey through the comedic narration of animated Playmate Chilly Alexander Frost and his uncle Max.

“At Igloo, we’re all in party mode as we celebrate an important moment in our brand’s history: the Playmate – the most famous cooler in the world – turns 50!” said Brian Garofalow, director of marketing at Igloo.

“We are delighted to share the history of the Playmate, from concept to the innovations of tomorrow, with our fans and collectors. Plus, we couldn’t be happier to reintroduce the original Little Playmate with its push-button side design so our consumers can join in the fun and own a piece of Igloo history. And these are just the first of several big surprises as we celebrate the Playmate throughout the year!

According to Igloo, the Little Playmate “was one of the most popular styles during the early years of the Playmate; it is a personal 7 liter cooler with the branded tent top, hinged cover and push button on the side.

Igloo brings this original design to life with the Little Playmate 50th Anniversary Collection. Featuring nine new special edition coolers with vibrant color combinations on every Little Playmate, this collection pays homage to the many Playmate colors that Igloo has marketed for over 50 years. “

The Anniversary Edition Little Playmate Coolers cost $ 29.99 each. The color combinations, with the first color being the actual cooler and the second being the Playmate logo on the top, are:

Fiesta light blue / gremlin green

Fat / magenta sashimi

Sneaky Blue / Acid Green

Electric watermelon / aqua

Aquatic teal / majestic blue

Industrial yellow / mint

Dark jade / bold magenta

Purple / aquamarine

Black / bold magenta

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Where to Buy Sleeping Bear Dunes 50th Anniversary Gear Online Wed, 07 Apr 2021 23:14:29 +0000

EMPIRE, MICH. – If you haven’t yet got your hands on some of the popular commemorative gear honoring Sleeping Bear Dunes National Lakeshore’s 50th anniversary this year, here’s your chance.

For a limited time, two nonprofits in the area are offering clothing featuring the park’s official 50th anniversary logo, which features an illustration of the lake shore in the silhouette of a bear. Proceeds from the sale of anniversary items benefit the work of organizations in the park.

Preserve Historic Sleeping Bear, a non-profit organization founded in 1998 dedicated to historic preservation and programming at Sleeping Bear Dunes, is one of the organizations offering amenities with the commemorative logo.

Executive Director Susan Pocklington said the group was delighted to donate the items on his website, especially since other anniversary-themed items were “flying off the shelves” this summer at the park’s visitor center.

“We’re very excited about this,” she said. “We provide a way for people near and far to get more goods, and that helps us support ourselves – and of course, it helps support the park.”

Items offered by Preserve Historic Sleeping Bear include t-shirts, long-sleeved shirts and hoodies, children’s shirts, coveralls and cloth masks. Orders can be placed until December 1st.

Additionally, the Friends of Sleeping Bear Dunes nonprofit, a group that since 1994 has focused on resource protection and the visitor experience in the park, also offers items bearing the logo. on his website For a limited time. The organization’s logo includes t-shirts, long-sleeved shirts and hoodies, children’s shirts and onesies; the deadline for orders is November 30th.

On October 21 of this year, Sleeping Bear Dunes commemorated its half-century by becoming a National Park Service Park. Birthday-related gifts and equipment are available in the park itself, but are not available for purchase online at the park.

For more information on Preserve Historic Sleeping Bear, please visit; order information is here.

For more on the Sleeping Bear Dune Friends, check out; order information is here.


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Just canceled $ 1 billion in student loans for around 72,000 defrauded borrowers Wed, 07 Apr 2021 23:14:29 +0000 Supachok Pichetkul / EyeEm / Getty Images

  • The Department of Education has just said that it is canceling the debt of approximately 72,000 defrauded student borrowers.
  • This reverses a Trump-era policy that granted only partial debt relief to defrauded students.
  • Borrowers are still struggling to repay their debts after for-profit schools close due to scams.
  • See more stories on the Insider business page

Related: Highlights From Biden’s Birthday Speech On Coronavirus

Although the cancellation of student debt for every American has not been implemented, the debts accumulated by students who have been defrauded by for-profit schools will have their loans canceled in the weeks to come.

In his first major move as President Joe Biden’s education secretary, Miguel Cardona on Thursday reversed a Trump-era policy that only partially provided relief to defrauded students. For-profit institutions that closed years ago, such as Corinthian colleges and ITT technical institutes, violates federal law by persuading their students to take out loans, and Cardona’s new policy will help about 72,000 of those students receive $ 1 billion in loan cancellations.

Eligible borrowers will begin receiving notices in the coming weeks, according to the ministry, and the release of the loans will follow.

“Borrowers deserve a streamlined and fair path to relief when they have been harmed through the fault of their institution,” Cardona said in a declaration. “Careful examination of these claims and the associated evidence has shown that these borrowers have been wronged and we will give them a fresh start with their debt.”

Debt cancellation methodology by former Education Secretary Betsy DeVos compared the median earnings of graduates with debt relief claims to the median earnings of graduates from comparable programs, and the larger the difference, the more the applicant will benefit relief. Cardona said this process did not result in an appropriate determination of remedy and should be set aside.

According to the press release, the full reliefs under the new regulations include:

  • 100% discharge of federal student loans linked to borrowers;
  • A repayment of any amount paid on the loans, if applicable;
  • Requests to credit bureaus to remove any related negative credit reports;
  • And where applicable, a reinstatement of eligibility for federal student assistance.

In 2014, Corinthian Colleges – a for-profit company that enrolled students at more than 100 campuses across the country – declared bankruptcy after a series of student scam investigations. According to a Senate document, the company made expensive private loans to students although it knew in advance that most of them would default, and at its peak, Corinthian made more than $ 500 million through the Pell Grant program.

The education department fined 30 million Corinthian dollars for deceptive students.

Two years later, ITT’s technical institutes closed their doors after a series of fraud-related claims regarding loan disbursements, placements, salaries, etc.

As a result, Senate Democratic Whip Dick Durbin in May, joined by other Democratic lawmakers, unveiled a plan grant full student loan relief to three categories of defrauded students under a COVID-19 relief program. The first two categories were for students attending Corinthian colleges and ITT technical institutes.

“Borrowers have waited for years for the Department to provide them with the relief to which they are legally entitled,” Durbin said in a statement. “These borrowers find it difficult to find jobs and are often unable to support themselves or their families. They are unable to be productive participants in the economy due to the credit crunch and are often prevented from doing so. to finish their studies because of their worthless debt. ”

Although debt relief for defrauded students was not included in the latest pandemic relief program, Durbin and other Democrats praised the Biden administration for providing this assistance to affected students.

“For more than four years, defrauded borrowers and their families have lived under a cloud of education debt that they shouldn’t have to pay off,” said the chairman of the House Education and Labor Committee, Bobby Scott. declaration.

“I applaud the Biden administration for doing the right thing in making these borrowers whole, and I can only imagine the mixture of joy and relief they feel today. This announcement is life changing for tens of thousands of people. people across the country. ”

Read the original article on Business intern

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Twitter users mock PETA for speaking out against use of animal-based insults Wed, 07 Apr 2021 23:14:28 +0000

A Tweeter through People for the ethical treatment of animals, this week, called on people to stop using “speciesist” terms such as “chicken”, “pig” or “rat” as insults to humans.

This Tweeter sparked a storm of negative responses.

According to a New York Post report, the PETA Tweet was so widely ridiculed online that on Thursday morning it garnered an “embarrassing ratio of almost 11,000 comments to just over 3,000 likes.”

“Treating someone an animal like an insult reinforces the myth that humans are superior to other animals and justified in raping them,” the animal rights group said in its call to action. “Defend justice by rejecting supremacist language”, Tweeter mentionned.

the New York Post drew attention to a chart of PETA social media representatives included in the tweet, which lists “human ‘supremacist’ terminology and suggests alternative language such as the use of ‘cowardly’ instead of ‘chicken’, ‘lively’ instead of ‘rat’, ‘jerk’ rather than ‘snake’, ‘loathsome’ rather than ‘pig’ and ‘lazy’ to slander someone with tendencies to laziness.

What was the response?

Most commentators viewed PETA’s request as a bit absurd, the report mentionned.

“Congratulations on the dumbest tweet of 2021 and it’s only been 4 weeks,” made fun of an attacker. “A real success.”

the New York Post quoted several other tweets responding to PETA’s call:

“I can’t tell if this is real or if you are making fun of yourselves,” wrote another.

A catty commenter posted a graphic that said, “Instead of ‘PETA’, say ‘trash’.”

the report noted that “even staunch vegans found PETA’s tweet hard to digest.”

“This is my 7th year of being a vegan and I beg you never to tweet again” wrote a dismayed herbivore.

Another “correctly pointed out that the lazy were named after the term laziness and not the other way around.

PETA argued with a response.

PETA responded to the reaction with a follow-up tweet however, the language “speciesist” was also “inaccurate” because animals have attributes surprisingly similar to humans.

“Pigs, for example, are intelligent, lead complex social lives, and empathize with other pigs in distress,” PETA wrote. “Snakes are intelligent, have family relationships and prefer to associate with those close to them.”

the New York Post quoted a stakeholder who, in response to PETA’s argument, retort, “Come back to me about being less superior than the animals when an anteater builds a house.”


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