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Honolulu opens Grant in Aid applications for Oahu nonprofits

The City Charter-mandated GIA fund, which is administered by the Department of Community Services, was established by a voter initiative to "serve economically and socially disadvantaged populations.".....»»

Category: topSource: bizjournalsOct 13th, 2021

Bull of the Day: Mesa Laboratories (MLAB)

Key M&A boosts sales & EPS, opens path to new business with Clinical Genomics Division Mesa Labs MLAB is a $1.6 billion provider of quality control monitoring and validation instruments serving niche markets in healthcare, industrial, pharmaceutical, medical and food processing applications.The Zacks Rank first put MLAB on my radar in 2018 at $185. At the time in my Healthcare Innovators portfolio, we took a quick swing trade out of the shares back to its old highs of $225.And the stock has provided plenty of trading opportunities since then, with over half a dozen swings between $200 and $270 as investors and analysts (myself included) had their doubts about whether the small-cap should trade for over 10 times sales.Now, MLAB is back in the upper realms of the Zacks Rank after analysts raised estimates to account for a key acquisition that will allow expansion into a critical new healthcare arena. This deal has also vaulted shares to new highs above $300.MLAB Adds a Clinical Genomics DivisionOn September 14, Mesa Laboratories announced that it has entered into a definitive agreement to acquire Agena Bioscience for a cash purchase price of $300 million. Headquartered in San Diego, Agena is a leading molecular diagnostics tools company that develops, manufactures, and supplies highly sensitive, low-cost, high-throughput, genetic analysis solutions to clinical labs and development partners globally.Peter Dansky, CEO of Agena, will join Mesa to lead the new Clinical Genomics Division.Excluding the impact of COVID-19 related revenues, Agena is expected to add between $63 million to $67 million of revenues -- about a 50% increase -- during the first 12 months of ownership, deliver high single digit organic revenues growth over the next several years and excluding the impact of purchase accounting, generate gross profit percentages in the mid to high 60's.Additionally, excluding the impact of COVID-19 related revenues, purchase accounting and integration expenses, Mesa expects adjusted operating income as a percentage of revenues to approach 20% for the same first 12 months of ownership.One Analyst Who Saw the PotentialA year ago in September, after a weak quarterly report and downward guidance, here's what I wrote about Mesa Labs...Despite this outlook, investors are not running away from MLAB shares, even after a $135 million secondary offering in June. Mesa priced 600,000 shares at $225 on June 9 and the deal size was increased from $100M to $135M and priced below the last close of $236. Jefferies, JPMorgan and Evercore ISI are acting as joint book running managers for the offering.In a September 1 model update from Jefferies, analyst Brandon Couillard and his team wrote about MLAB as "a high-quality small-cap compounder with a defensive growth profile that is relatively insulated from the macro."The analysts noted that while near-term demand conditions had been impacted by the pandemic, they continue to believe that improved execution under new management, who are former Danaher DHR executives, would offer new stability and organic growth opportunities.And with over $200 million of cash on hand, they also like the possibility of additional M&A as a likely catalyst for the stock. They maintained their $290 PT.(end of September 2021 article excerpt)The Jefferies team nailed the potential of this small-cap. While I don't have an updated report from them, I do have this like-minded view from KeyBanc...Former Danaher executive Gary Owens, who was head of Genomics and now CEO of Mesa Labs, announced the acquisition of Agena Biosciences. Agena is significantly non-GAAP EPS accretive, increases overall growth of Mesa, and like most diversified LST companies establishes a diagnostic platform.We increase our FY23 EPS from $5.54 to $7.60 and estimate a blended organic growth rate 200-300 bps above the prior pace of 4-6%. Using a new sum-of-the-parts model, we raise our Fair Value from $300 to $330 per share.The Expanding World of Genetic DiagnosticsOne of the most exciting areas of medicine right now involves companies offering innovative genomics and testing solutions for doctors, scientists, and clinical lab services. I own three such companies, all with different niches: Invitae NVTA, Natera NTRA, and Pacific Biosciences PACB.It looks like Mesa Labs' recent expansion will offer them more opportunities to serve companies like these.Disclosure: I own NVTA, PACB, and NTRA shares for the Zacks Healthcare Innovators portfolio. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Mesa Laboratories, Inc. (MLAB): Free Stock Analysis Report Danaher Corporation (DHR): Free Stock Analysis Report Pacific Biosciences of California, Inc. (PACB): Free Stock Analysis Report Invitae Corporation (NVTA): Free Stock Analysis Report Natera, Inc. (NTRA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksOct 8th, 2021

Industry Unbound: Friendly Academics And Performing Accountability

Excerpted from Industry Unbound: The Inside Story of Privacy, Data, and Corporate Power by Ari Ezra Waldman. Q3 2021 hedge fund letters, conferences and more Industry Unbound: Friendly Academics The information industry also launders its arguments through seemingly independent academic research. The best example of this is in the field of AI and automated decision-making […] Excerpted from Industry Unbound: The Inside Story of Privacy, Data, and Corporate Power by Ari Ezra Waldman. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q3 2021 hedge fund letters, conferences and more Industry Unbound: Friendly Academics The information industry also launders its arguments through seemingly independent academic research. The best example of this is in the field of AI and automated decision-making systems. AI is an umbrella term often imprecisely used to refer to set of technologies “best understood as a set of techniques aimed at approximating some aspect of human or animal cognition using machines.” For AI systems to work as promised (which they rarely do), their developers require enormous tranches of data for the purposes of training and improving accuracy. AI policy, therefore, is inextricably linked to privacy: the less regulation around the collection and use of personal data, the easier it will be to design, market, and deploy AI; the fewer guardrails around the use of AI, the more companies will extract our data. Scholars in law and the social sciences are interrogating AI and its use in social policy decisions. They have highlighted problems of bias, lack of accountability, structural injustice, and invasions of privacy. Other researchers, however, have become apologists for industry’s AI-related data grabs. The MIT Media Lab, for example, not only cozied up to Silicon Valley billionaires to build potential funding streams, but also allegedly aligned some of its policy recommendations on data collection and AI with Big Tech’s antiregulatory posture. In the AI space, the information industry prefers a light (or no) touch approach to tweaking AI’s bias problem; they have co-opted the notion of “AI ethics” as a means of replacing public governance with their own internal structures. Industry also invests millions to create a narrative about bias, data privacy, and the role of government. They funded MIT Media Lab research that was eventually cited in reports published by Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc (NASDAQ:GOOGL), IBM (NYSE:IBM), Facebook, Inc. (NASDAQ:FB), and Amazon.com, Inc. (NASDAQ:AMZN) calling for self-regulation. In response to industry pressure, Media Lab executives allegedly “water[ed] down” AI law and policy recommendations to the California legislature that were at odds with the research done by its own experts on the ground. Amazon paid scholars at Antonin Scalia Law School at George Mason University to push their favored discourses. After the antitrust scholar Lina Khan wrote an article targeting Amazon as anticompetitive and calling for reinvigorating antitrust law to take on the internet giant, Amazon paid pro-corporate scholars to write an article lauding Amazon’s monopolistic practices as good for consumers. It’s hard to know how often this happens. But even when scholars acknowledge their corporate funding streams in footnotes, the discursive damage remains. There is more to this story than a few grants, even if those grants add up to a several millions of dollars. Many scholars who receive Google, Facebook, or other Big Tech funds insist that the money doesn’t influence their writing. And for many, that is true. Merely receiving money from a target of research does not necessarily prove bias. But we also have evidence that the nonprofits that receive those funds make personnel and substantive decisions that accord with the views of their biggest tech donors. In 2017, for example, the entire competition team at a Google-funded think tank was fired after its leader pushed for more rigorous antitrust enforcement against Google. The information industry is also far more subtle as it seeks influence over academic discourse about privacy, law, and technology. For instance, company representatives will often only speak with independent researchers about already public documents and reports and then only on “deep background,” thus limiting what academics can learn. This happened to me during research for another project, where a Google attorney and several colleagues were only willing to discuss Google Play’s published guidelines and only without attribution. I ended the call. Five academic colleagues experienced the same tactic, including one who was interested in Facebook content moderation who was told “only on the condition that you can’t quote anything we say.” This tactic may sound counterproductive to building friendly discourses in academia; not talking is a bad inculcative strategy. According to a former member of Google’s policy shop, the deep background strategy “gives us an opportunity to share our side of the story without pinning a quote on one person because quotes can always be misleading and edited to make us look bad. Several companies incentivize friendly coverage by dangling research funds in front of junior scholars. Young researchers and PhD students are particularly susceptible to corporate influence because of the need to pay for their fellowships, publish to get tenure, the possibility that access will translate into undiscovered research, and the small stipends they receive from their institutions. The Facebook Fellowship, for example, includes full tuition and a $42,000 annual stipend, paid visits to Facebook, and all expenses paid participation in the annual Fellowship summit. Undoubtedly, merely participating in this program does mean that these junior scholars are unduly influenced by Facebook. But much of the Fellows’ already published research fits neatly within privacy-ascontrol ‘s logic of power. Among thirty-six Facebook Fellows in 2020, six classify their work in some way related to privacy. Along with several co-authors, these fellows have published academic articles arguing that the tool Mark Zuckerberg plans to use to create a “privacy-focused” Facebook – end-to-end encryption – is the “best way to protect” privacy on social media. In another article, researchers used studies to buttress the feasibility of privacy self-governance and argued users of messaging services are willing to trade security for convenience. Other Fellows researching AI and fairness issues have published articles proposing changes that companies can make themselves, perpetuating, even inadvertently, the self-regulatory ethos. I am not suggesting that all of these promising young scholars are part of a cabal of researchers plotting to spread pro-Facebook messages throughout academia. Switch it around: Facebook is choosing to provide ample support for research that perpetuates privacy-as-control’s logic and using its soft power to create friendly relationships among promising future academics. To my knowledge and based on the experience of several academics in law, surveillance studies, and sociology, Facebook and Google often, though not always, require preapproval of all quotes and related text before an academic publishes scholarship based on interviews with company representatives, a grant from the company, or pursuant to officially sanctioned field work. This is a particularly pernicious tactic. One colleague I interviewed for this projecthas saved email conversations with Facebook in which company representatives required articles to be embargoed and precleared before submission. I did not get that farwith Facebook,which refused to participate in this research. Another colleague reported that some Facebook and Google grants they received had “no strings attached, it was money for a conference or a project or whatever, but they just gave it,” but “research money always came with questions and invitations and, ultimately, they wanted to know what my conclusions would be. I gave back the remaining funds much to [my university’s] chagrin.” Corporate-friendly academic research makes its way back into the information industry, inculcating the rank and file along the way, because corporate researchers, public policy teams, and other lawyers and privacy professionals are encouraged to cite and refer to it in their work. Several privacy professionals and lawyers outside Silicon Valley showed me internal documents focusing both on the benefits ofprivacy notice, choice, and control and how to improve it, and they all rely on research from Facebook Fellows, Google-funded research projects, and encryption-centered work at Microsoft Research. Of course, independent academics are cited as well. But, often, those academics are cited for background; their proregulatory proposals are ignored. For example, Facebook cited work from Lorrie Cranor, Aleecia McDonald, Helen Nissenbaum, and me, among others, in its public report on improving notice and transparency. But when it came time to thinking about solutions, Facebook touted its own solutions, as if to suggest that the problem can be solved without the law getting involved. Performing Accountability Another common tactic I observed during my interviews is what Julie Cohen has called performing accountability, or doing something “designed to express a generic commitment to accountability without ... meaningful scrutiny of the underlying process.” Magicians use the word “misdirection” to describe a related phenomenon: while we’re distracted by some of the information industry ‘s cynical trappings of accountability, tech companies are busy undermining our privacy. A paradigmatic example of this strategy comes from the related context of content moderation. Content moderation refers to how platforms regulate the material available on their sites. Sarah Roberts has called content moderation “a powerful mechanism of control” that has “grown up alongside, and in service to” private companies in the information industry. Platforms moderate content in order to achieve optimal engagement. Platforms develop their own rules for what is and what is not allowed to be posted and they apply those rules using both humans and algorithms. Content moderation at Facebook has garnered outsized attention in the media, among policy makers, and among academics. Many high-profile content moderation controversies at Facebook have caused such a crisis of confidence that the company announced, with significant fanfare, that it was creating an oversight board to hear appeals of moderation decisions from the front lines. The idea is that an independent board would routinize, rationalize, and publicize content moderation decisions, generating trust and confidence. Per a search on Lexis Nexis, 2,210 newspaper and magazine articles have been written about the Oversight Board between November 2018, when the board was announced, and May 18, 2020. Over 565 days, that’s an average of nearly four articles per day! Facebook pitched many of these stories to both leading outlets like the New York Times and the Wall Street Journal, as well as to general interest blogs and tech-focused news outlets. During this time, 189 law review and journal articles at least mentioning the board have been published. And that doesn’t even include the many hundreds that are being written, under submission, and soon-to-be published at this book went to press. A May 18, 2020, Google search for any content with the exact phrase “Facebook Oversight Board” yielded 236,000 results; millions more have all of those terms. Facebook has pushed out several reports and issued press releases dutifully picked up by news outlets and commentators. The company’s representatives have given countless talks at universities, as well as public and private fora, from Princeton University to the Aspen Institute. This onslaught was evidently intentional, but the attention paid to the board is disproportionate to its power. The board says it will focus on “the most challenging content issues for Facebook, including ... hate speech, harassment, and protecting people’s privacy.” But, as the media scholar Siva Vaidhyanathan notes, “only in the narrowest and most trivial of ways does this board have any such power. The new Facebook review board will have no influence over anything that really matters in the world.” A quick look at the board’s Charter proves he’s correct. The board can only hear appeals for content that has been removed, not the misleading and harmful content that remains. Nor can the board make binding decisions about the fate of specific pieces of content on a case-by-case basis. It is supposed to make its decisions within ninety days of a filed appeal, but can expedite certain decisions within thirty days. Its decisions have zero precedential value. It has no binding impact on policy, even on policies about content moderation! It cannot change the way Facebook is run or materially change how Facebook makes decisions about content. It won’t be able to address the fact that Facebook’s failure to remove misleading “deep fake” videos or “fake news” can sway an election. It can’t do much about the rampant hate speech and human rights violations that persist. It has absolutely no voice in Facebook’s continued misuse of user data. And it will play no role in corralling misinformation and harmful conspiracies rampant throughout the platform. The last two points are rather ironic: the board’s announcement came in reaction to a New York Times report about how Facebook publicly lied, deflected blame, and tried to cover up both its failure to recognize and police Russia’s use of the platform to interfere in the 2016 US presidential election and its flagrant misuse of user data in the Cambridge Analytica scandal. Why, then, has the board received so much media and scholarly attention? The strategy is intentional, meant to distract us from everything Facebook isn’t doing. Joan Donovan, the research director of Harvard’s Shorenstein Center and an expert on media manipulation, called the board a distraction from “what really needs to happen, which is to design technology that doesn’t allow for the expansive amplification of disinformation and health misinformation.” Facebook isn’t changing its business. It isn’t taking down fake videos or limiting the lies from right-wing politicians. Nor is it changing the very financial model that makes it in the company’s interest to extract our data, leave up conspiracy theories, fake news, deep fakes, and other sensationalized content. Dipayan Ghosh, a fellow at Harvard and former Facebook executive, wrote that the board is “a commercial thing of convenience for the company both in its name and its function; it gives the impression that the board will provide true oversight by graduating the responsibility of determining what should constitute hate speech to an external party with public credibility, allowing the company to skate over the threat of a more rigorous regulatory policy that might emerge from relatively aggressive legislatures that might wish to target the firm’s business model itself.” The board’s impotence, then, is real, but its discursive effect is not. Facebook engaged in an aggressive strategy involving earned media and friendly academics to make a lot of noise about something that will barely be a blip on the screen of Facebook’s vast problems. Its full court press is nothing short of a concerted strategy to redirect us from its other failures. The same strategy has been deployed to inculcate the values of privacy-as-control as obvious, common sense, and normatively good. Privacy self-regulation, notice-and-consent, and privacy policies are “commercial things of convenience,” as well: privacy policies give the impression that the information industry is doing something to protect our data and small, marginal changes after privacy scandals facilitate an escape from greater regulatory oversight. This misdirection has been so successful at inculcating a perception of accountability among members of the public that many people think a company with a privacy policy is promising to keep our data private! Whenever I questioned the privacy-invasive designs of several companies’ products, the usual response was to redirect my attention to the company’s cybersecurity work. We saw this in Chapter 1, where both privacy professionals and software engineers touted their encryption and state-of-the-art security techniques as proof that they cared about privacy. The privacy lawyers I interviewed highlighted their work improving transparency. In several instances, these lawyers would note that “no one is perfect” and that “we’re doing better” by showing how they have redesigned their notices to be more readable. These are, at their core, misdirections. Improving notice and strengthening cybersecurity are not bad ideas. But they don’t speak to design. Nor do they serve any purpose outside the privacy-as-control framework. Asking us to focus on notice not only perpetuates its legitimacy as a privacy practice, but it also keeps the rank and file focused on performances of privacy rather than pulling back the curtain on the industry’s legal and discursive crusades against it. Updated on Oct 8, 2021, 11:33 am (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkOct 8th, 2021

Health systems create new care programs as they renew contracts with insurers

Plus: Manhattan biopharma startup raises $10 million seed round Rutgers, NYU receive $11.6M grant to advance Asian health equity Mount Sinai opens $5 million pediatric rehabilitation... To view the full story, click the title link......»»

Category: blogSource: crainsnewyorkOct 7th, 2021

Here"s everything Biden has done so far to address the $1.7 trillion student debt crisis

From extending the student-loan payment pause to cancelling student debt for some borrowers, here's everything Biden has done on student debt to date. Shutterstock.com Since Biden took office, he's taken a number of actions to address the $1.7 trillion student-debt crisis. They include cancelling debt for borrowers with disabilities and extending the payment pause on loans. Democrats are pushing for him to cancel $50,000 in student debt per person, which the DOJ is reviewing. See more stories on Insider's business page. Forty-five million Americans have a $1.7 trillion student-debt burden in the country. And many of them, alongside Democrats and advocates, want President Joe Biden to forgive $50,000 of their debt.He hasn't done that yet, but the president has taken steps to lessen the burden and provide relief during the pandemic.As one of his first actions in office, Biden extended the pause on student-loan payments through September, coupled with zero growth in interest, to ensure borrowers suffering financially would not have to worry about paying off their loans. That is now running through January 2022.Since then, Education Secretary Miguel Cardona has cancelled billions in student debt for borrowers with disabilities and borrowers defrauded by for-profit schools. He's also started conducting reviews of student loan forgiveness programs that don't work as they should.But Democrats want Biden to do more.They have been keeping the pressure on the president to cancel $50,000 in student debt per person using his executive authority. Biden has expressed hesitancy to do so, and although he has asked the Education and Justice Departments to review his executive abilities to wipe out that debt, Democrats remain adamant that he can, and should, cancel student debt immediately with the flick of a pen."Student loan cancellation could occur today," Massachusetts Sen. Elizabeth Warren told Insider. "The president just needs to sign a piece of paper canceling that debt. It doesn't take any act of Congress or any amendment to the budget."Detailed below is everything Biden has done to date to confront the student debt crisis: Extended the pause on student-loan payments Evan Vucci/AP On his first day in office, Biden asked the Education Department to extend the pause on federal student loan payments through September 30, following Education Secretary Betsy DeVos' extension of it through the end of January 2020. This was accompanied by a 0% interest rate during that time period.National Economic Council Director Brian Deese said at the time that the extension would alleviate burdens on many households. "In this moment of economic hardship, we want to reduce the burden of these financial trade-offs," Deese said.This extension, however did not apply to the more than 7 million borrowers with loans held by private companies. In August, nearly two months before the pause was set to expire, Education Secretary Miguel Cardona announced the pause would be extended through January 31, 2022. This is the fourth extension of the pause during the pandemic, and Cardona said in a statement that it will be the "final" one."The payment pause has been a lifeline that allowed million of Americans to focus on their families, health, and finances  instead of student loans during the national emergency," Cardona said.The announcement of the extension was welcomed by many Democrats and advocacy groups who have been pushing for additional student debt relief for borrowers. Expanded the scope of the student loan payment pause Reuters/Andrew Burton Biden's payments pause on student loans initially only applied to borrowers with federal loans, meaning those with privately-held loans had to continue making payments during the pandemic.But on March 29, Cardona expanded the scope of that pause to apply to loans under the Federal Family Education Loan (FFEL) Program, which are privately held. This helped 1.14 million additional borrowers. The FFEL Program ended in 2010, but according to Education Department data, 11.2 million borrowers still have outstanding FFEL loans totaling over $248 billion. And while the department acquired some of the outstanding FFEL loans, many are still privately owned and were not affected by the earlier pause on federally owned student loan payments.According to a press release, any FFEL borrower who made a payment in the past year will have the option to request a refund.  Asked the Justice and Education Departments to review his authority to cancel student debt REUTERS / Jonathan Ernst At a CNN town hall in February, Biden said he doesn't have the executive authority to cancel up to $50,000 in student debt per person, but said he is prepared to cancel $10,000 — something he campaigned on. The same month, White House Press Secretary Jen Psaki told reporters that Biden will ask the Justice Department to review his legal authority to cancel $50,000 in student debt. Biden's administration has not yet commented on the status of the Justice Department's review.However, Insider reported that he has yet to deliver on that campaign promise, and while Biden said he would support legislation brought to him to cancel $10,000 in student debt, Democrats argue that legislation takes too long, and the president can cancel debt immediately using his executive authority."We have a lot on our plate, including moving to infrastructure and all kinds of other things," Warren said in a February press call. "I have legislation to do it, but to me, that's just not a reason to hold off. The president can do this, and I very much hope that he will."And White House Chief of Staff Ron Klain told Politico in April that Biden had asked Cardona to create a memo on the president's legal authority to forgive $50,000 in student loans per person.Biden will "look at that legal authority," Klain said. "He'll look at the policy issues around that, and he'll make a decision. He hasn't made a decision on that either way, and, in fact, he hasn't yet gotten the memos that he needs to start to focus on that decision." Reversed a DeVos methodology for determining loan forgiveness Secretary of Education Betsy DeVos. Alex Wong/Getty Images On March 18, Cardona reversed a Trump-era policy that gave only partial relief to defrauded students.The debt-cancellation methodology, known as the "borrower defense to repayment" — approved by Education Secretary Betsy DeVos — compared the median earnings of graduates with debt-relief claims to the median earnings of graduates in comparable programs. The bigger the difference, the more relief the applicant would receive.But compared to a 99.2% approval rate for defrauded claims filed under President Barack Obama, DeVos had a 99.4% denial rate for borrowers and ran up a huge backlog of claims from eligible defrauded borrowers seeking student debt forgiveness.Cardona said that process did not result in appropriate relief determination and needed to be reversed, and a judge recently ruled that DeVos must testify over why so few borrowers were approved for loan forgiveness. Cancelled student debt for some defrauded borrowers Nirat.pix/Getty Images So far, Cardona has cancelled over $2.6 billion in student debt for borrowers defrauded by for-profit schools.For-profit institutions that shut down years ago, such as Corinthian Colleges and ITT Technical Institutes, were accused of violating federal law by persuading their students to take out loans, and Cardona's new policy helped approximately 72,000 of those students receive $1 billion in loan cancellation in March."Borrowers deserve a simplified and fair path to relief when they have been harmed by their institution's misconduct," Cardona said in a statement. "A close review of these claims and the associated evidence showed these borrowers have been harmed and we will grant them a fresh start from their debt."On June 16, Cardona cancelled student debt for 18,000 additional borrowers defrauded by ITT Technical Institutes, totaling to about $500 million in debt relief.The Education Department announced in a press release that 18,000 borrowers who attended ITT Tech will get 100% of their student debt forgiven, and the department will begin notifying borrowers of their approvals for loan forgiveness in the coming weeks and will work quickly to discharge those borrowers' loan balances."Our action today will give thousands of borrowers a fresh start and the relief they deserve after ITT repeatedly lied to them," Cardona said in a statement.An additional 115,000 defrauded ITT borrowers got $1.1 billion in student debt relief on August 26, applicable for those who did not complete their degree and left ITT on or after March 31, 2008.And in the first time since 2017 that borrower defense claims have been approved for borrowers outside of ITT Tech, Corinthian Colleges, and American Career Institute, on July 9, Cardona cancelled student debt for 1,800 borrowers who attended the for-profit schools Westwood College, Marinello Schools of Beauty, and the Court Reporting Institute. Cancelled student debt for some borrowers with disabilities Getty Images / Dan Kitwood On March 29, Cardona cancelled $1.3 billion of student debt for about 41,000 borrowers with disabilities.He also waived an Obama-era requirement for those borrowers to submit documentation during a three-year monitoring period to verify that their incomes did not exceed the poverty line of $12,880 annually for a single person.A 2016 report from the Government Accountability Office found that 98% of reinstated disability discharges occurred because borrowers did not submit the required documentation — not because their incomes were too high."Borrowers with total and permanent disabilities should focus on their well-being, not put their health on the line to submit earnings information during the COVID-19 emergency," Cardona said in a statement. "Waiving these requirements will ensure no borrower who is totally and permanently disabled risks having to repay their loans simply because they could not submit paperwork."But experts said this action did not make up for the significant number of borrowers who never received loan forgiveness simply due to paperwork."Today's announcement is not cause for celebration but rather for outrage," Persis Yu, the director of the Student Loan Borrower Assistance Project at the National Consumer Law Center, said in a statement at the time. "It is scandalous that the Department revoked the loan discharges for 41,000 borrowers with total and permanent disabilities due to paperwork issues during a pandemic."Then, on August 19, Cardona wiped out student debt for 323,000 additional borrowers with disabilities, resulting in $5.8 billion in student-debt relief, and he "indefinitely" waived the requirement to provide proof of income."We've heard loud and clear from borrowers with disabilities and advocates about the need for this change and we are excited to follow through on it," Cardona said. "This change reduces red tape with the aim of making processes as simple as possible for borrowers who need support."Cardona also said the department will consider further waiving the three-year monitoring period. Started a review of student-loan forgiveness programs Suzanne Kreiter/The Boston Globe via Getty Images On May 24, the Education Department announced it is beginning the process of issuing new higher education regulations, mainly concerning student debt-forgiveness programs. The first step of the process will be through holding hearings in June to receive feedback on "regulations that would address gaps in postsecondary outcomes, such as retention, completion, student loan repayment, and loan default," according to a press release.The department will also seek comments on rules regarding student loan forgiveness for borrowers in public service and borrowers with disabilities, among other things.The main topics the department plans to address concern the methods for forgiving debt for defrauded borrowers and borrowers with disabilities, along with looking into the Public Service Loan Forgiveness (PSLF) program, which has rejected 98% of eligible borrowers. Forbes reported that the process to implement new rules could be lengthy, though. After the hearings in June, there will be "negotiated rulemaking," during which stakeholders meet with the department to review proposed regulations, and it could take a year or longer until changes are implemented. Biden's regulatory agenda also included plans to review loan forgiveness programs, but Insider reported on June 15 that details for those reviews remain unclear, and an Education Department spokesperson told Insider there is not yet a timeline for when improvements will be implemented.  Waived interest on student loans for service members Members of the United States Marine Corps stand listening to the 45th President Donald J. Trump's address of the crowd for the opening ceremony of the New York City 100th annual Veterans Day Parade and wreath-laying at the Eternal Light Flag Staff. Ira L. Black/Corbis via Getty Images The Education Department announced on August 20 that 47,000 former and active-duty service members will get the interest on their student loans retroactively waived.The relief will happen automatically, removing the requirement for service members to make individual requests to access the benefit, which, according to the press release, will make service members eight times more likely to receive the benefit than in 2019."Brave men and women in uniform serving our country can now focus on doing their jobs and coming home safely, not filling out more paperwork to access their hard-earned benefits," FSA Chief Operating Officer Richard Cordray said in a statement. "Federal Student Aid is grateful for our strong partnership with the Department of Defense, and we will seek to reduce red tape for service members wherever possible."Service members deployed to areas that qualify them for "imminent danger or hostile fire pay," according to the Higher Education Act, should not accrue interest on student loans that were first disbursed on or after October 1, 2008. But since the process was not previously automated, only a small proportion of eligible service members were able to access the benefit, with only about 4,800 of them getting relief in 2019. Overhauled a student-loan forgiveness program for public servants Andreas Rentz/Getty Images The Education Department on October 6 announced a major overhaul of the Public Service Loan Forgiveness (PSLF) program. It's supposed to wipe out student debt for public servants after 120 qualifying monthly payments, but to date it has rejected 98% of applicants due to deep flaws within the program.According to the department's press release, it will implement a limited-time waiver through October 31, 2022, that will allow borrowers to count payments from any federal loan programs or repayment plans toward loan forgiveness through PSLF, including programs and plans that were not previously eligible.The department said this waiver alone would bring 550,000 borrowers closer to student-debt relief automatically, including 22,000 borrowers who will be immediately eligible for relief without any action on their part, totaling $1.74 billion in forgiveness. An additional 27,000 borrowers could also qualify for $2.82 billion in forgiveness if they certify additional periods of employment."Borrowers who devote a decade of their lives to public service should be able to rely on the promise of Public Service Loan Forgiveness," Education Secretary Miguel Cardona said in a statement. "The system has not delivered on that promise to date, but that is about to change for many borrowers who have served their communities and their country."Other changes, to be rolled out in the next few months, include making payments easier to qualify for the program and reviewing denied applications and correcting errors. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderOct 6th, 2021

Plantronics (POLY) Partners With Telepo to Enhance Offerings

Plantronics' (POLY) devices are set to be integrated into the Telepo platform. Plantronics, Inc. POLY recently announced that it has become a strategic partner of Telepo’s Alliance Program.Telepo is part of the Destiny Group — a European provider of secure cloud and business communication. Headquartered in Brussels, Destiny enables service providers, channel partners and customers to thrive in their cloud ecosystem. It acquired Telepo in June 2021.Launched in May 2021, the Alliance Program provides a Telepo framework that allows vendors to validate their products against the commonly available Telepo applications. The purpose of the program is to build a strong partner network of like-minded technology vendors.Poly (the name under which Plantronics markets itself) was a natural choice to be one of the first partners, with many Telepo service providers already using its products. Poly shares a strong relationship with Destiny through partnerships with other companies within the group like Escaux in Belgium and Soluno in Sweden.Poly has taken concrete steps to control costs, made disciplined investments in new products and balanced supply chain exposures. The stock has gained 97.9% in the past year compared with the industry’s growth of 21.3%.Image Source: Zacks Investment ResearchThe new alliance opens an avenue in saturated markets such as the Nordics and Benelux, and prospects for Poly, Telepo and Destiny in the voice and unified communications markets in other parts of Europe, Middle East and Africa, and Asia Pacific.Over time, more Poly devices will be integrated into the Telepo platform apart from headsets and deskphones. Telepo applications will be integrated into the Poly+ apps to deliver an enhanced experience to end users.The partnership will allow Telepo-based service providers in Northern Europe, South Africa, Japan, New Zealand, Australia, and Singapore to expand their options for phones, headsets and video by leveraging Poly’s portfolio.Poly is benefiting from the massive shift toward reliable, high-fidelity solutions for hybrid work and video collaboration. It is well-poised to capitalize on this trend as the unified communications and collaboration ecosystem partner backed by its innovative technology and customer-centric go-to-market capabilities.The stock currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the industry are Arista Networks, Inc. ANET, Ooma, Inc. OOMA and SeaChange International, Inc. SEAC, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Arista has a trailing four-quarter earnings surprise of 6%, on average.Ooma pulled off a trailing four-quarter earnings surprise of 55.2%, on average.SeaChange has a trailing four-quarter earnings surprise of 28.9%, on average. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SeaChange International, Inc. (SEAC): Free Stock Analysis Report Arista Networks, Inc. (ANET): Free Stock Analysis Report Ooma, Inc. (OOMA): Free Stock Analysis Report Plantronics, Inc. (POLY): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksOct 4th, 2021

Women-owned Type A completes first development under HPD opportunity program

Today, Type A Real Estate Advisors (Type A), a Women-Owned Business Enterprise (WBE) developer, in collaboration with JASA, an agency serving older New Yorkers, celebrated the opening of 1490 Southern Boulevard in a ribbon cutting ceremony. The property is the first development selected from HPD’s M/WBE Building Opportunity RFP to... The post Women-owned Type A completes first development under HPD opportunity program appeared first on Real Estate Weekly. Today, Type A Real Estate Advisors (Type A), a Women-Owned Business Enterprise (WBE) developer, in collaboration with JASA, an agency serving older New Yorkers, celebrated the opening of 1490 Southern Boulevard in a ribbon cutting ceremony. The property is the first development selected from HPD’s M/WBE Building Opportunity RFP to open its doors. It is 100 percent affordable senior housing with 114 units for households making up to 50 percent AMI, with 30 percent of units in the development set aside for formerly homeless older adults and one superintendent’s unit. The project is a continuation of a historic partnership between the non-profit and development sectors to combat the lack of affordable housing for seniors in New York City. Type A was selected to develop the city-owned site as part of Mayor de Blasio’s 2017 initiative to expand the capacity of MWBE firms in the real estate and construction industry, and has led the development to become the first of six projects within this plan to complete construction and lease up of its units. JASA, the largest nonprofit manager of senior housing in New York City, manages the residential units and common areas in the development. The organization also provides onsite staff to assist residents with social service needs such as accessing benefits and entitlements, home care, and meals, as well as programs and opportunities to participate in community and cultural events.  ANNIE TIRSCHWELL “This ribbon cutting marks an exciting milestone in our fight to address the clear lack of affordable housing for so many New Yorkers and is illustrative of the priorities and vision of  MWBE firms in our city,” said Annie Tirschwell, Partner at Type A. “This project is truly the product of the vision and the hard work of HPD, HDC, Council Member Salamanca, Borough President Ruben Diaz and our lenders whose investment in M/WBE firms was made evident today.” The development includes a second floor garden. In addition to the 114 affordable homes, the building features amenities such as 3,600 s/f of community and social service space for residents, a large second floor garden for passive recreation, a fitness center, laundry facilities, and a 2,500 square-foot landscaped and furnished terrace with inspiring city views. “1490 Southern Boulevard is the first development selected from HPD’s M/WBE Building Opportunity RFP to open its doors. What was once a vacant lot is now 114 affordable homes for low-income seniors, including those who have experienced homelessness,” said HPD Commissioner Louise Carroll. “HPD is proud to partner with Type A and JASA on this project, and we remain committed to expanding the participation of M/WBEs and nonprofits in the affordable housing industry.” “Bernheimer Architecture’s team designed the building to be a strong presence along Southern Boulevard, one that opens to the street, connects to the neighborhood, and is welcoming to its residents,” said Bernheimer Architecture Principal, Andy Bernheimer. “We are thrilled to have worked with this development team, to serve an in-need population, and to contribute to the growth of the Bronx.”  The post Women-owned Type A completes first development under HPD opportunity program appeared first on Real Estate Weekly......»»

Category: smallbizSource: nytSep 29th, 2021

5 Stocks to Deflect Delta Variant Curveball From Orthopedic Space

OrthoPediatrics (KIDS), Orthofix (OFIX), Zimmer Biomet (ZBH), Stryker (SYK) and SeaSpine (SPNE) are expected to hold ground despite a challenging business climate. Orthopedic device, an integral part of MedTech, has been on a gradual rebound following a pandemic-battered 2020. The opening up of the economy following the lifting of strict social-distancing norms and increased hospital visits with rush toward opting for earlier-deferred non-COVID procedures were vastly seen after the widespread vaccination drives. The orthopedic device subsector, which covers orthopedic implants, minimally-invasive surgeries and robotic surgeries, had been witnessing robust performances over the past few months after a pandemic-led hiatus in elective procedures.However, the emergence of the highly-contagious Delta variant of coronavirus seems to again derail the growth trajectory of elective orthopedic surgeries.Orthopedics’ SnapshotAfter an impressive performance over the past few months where the key orthopedic players recorded improved patient volumes on the back of pent-up demand, the potential concerns over the emergence of new variants looms large. With increasing cases of infections with the Delta strain, patients are increasingly deferring their elective orthopedic surgeries as they fear getting infected with the latest potentially vaccine-resistant strain.Not only patients, even hospitals are increasingly attending to COVID-19 patients, thereby pushing other admissions to the back. This is also likely to hamper sales of orthopedic implants of key orthopedic MedTech players by leading to lower procedure volumes.Aggravating the fear of the Delta impact, key MedTech player NuVasive, Inc. NUVA has voiced concerns. The company, during its second-quarter 2021 earnings call, confirmed that patient sentiment is a major factor that will determine elective procedure deferrals.However, given the fact that a meaningful portion of this orthopedic sub-sector comprises essential, nondeferrable surgeries, the adverse business impacts are likely to be mitigated to some extent. Particularly, spine surgeries and trauma settings are expected to fetch business even amid the difficult pandemic situation. Market watchers are of the view that enabling technologies within orthopedic and spine are going to steal the limelight amid the difficult financial situation of the hospitals in the coming months.Per a report published on Fortune Business Insights, the global orthopedic devices market size was worth $53.44 billion in 2019 and is anticipated to reach $68.51 billion by 2027, at a CAGR of 6.6%. Factors like rising cases of osteoporosis and musculoskeletal diseases, increasing incidents of sports and traumatic injuries, and an expanding elderly population are expected to drive the market.5 Stocks to Focus onHere we have listed five orthopedic stocks that have an upside growth potential despite the looming concern over surging infection rates. Investors can turn their attention to these stocks, which can turn out to be prudent investment choices for long-term benefits.OrthoPediatrics Corp. KIDS, in August, announced the continuation of its navigation partnership with Mighty Oak Medical, Inc., thereby extending its current five-year deal by another five years till August 2027. This Zacks Rank #2 (Buy) company, which has been the exclusive distributor of Mighty Oak Medical’s FIREFLY Technology in children’s hospitals across the United States, will be able to maintain that exclusivity through August 2027 via the extended agreement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Image Source: Zacks Investment ResearchIts expected earnings growth rate for 2022 is pegged at 45.6%. The company is likely to report 2021 revenue growth of 39.6%. Over the past year, the stock has gained 59.2% compared with the industry’s 21.8% rise.Global medical device company focused on spine and orthopedics, Orthofix Medical Inc. OFIX, announced the full market launch of the Opus Mg Set osteoconductive scaffold, a synthetic magnesium-based bone void filler for orthopedic procedures, this month.Image Source: Zacks Investment ResearchIts expected earnings growth rate for 2022 is pegged at 58.9%. The company is expected to report 2021 revenue growth of 16.1%. Over the past year, this Zacks Rank #2 company has gained 37.4% compared with the industry’s 21.8% rise.Renowned MedTech player Zimmer Biomet Holdings, Inc. ZBH along with Canary Medical (a medical data company) announced the FDA’s De Novo classification grant and authorization to market the tibial extension for Persona IQ, the world's first and only smart knee cleared by the FDA for total knee replacement surgery, in August.Image Source: Zacks Investment ResearchIts long-term expected earnings growth rate is pegged at 8.8%. The company is expected to report 2021 revenue growth of 15.4%. Over the past year, this Zacks Rank #3 (Hold) company has gained 10.3% compared with the sector’s 0.2% rise.Stryker Corporation SYK, well-known medical technology company, announced robust second-quarter 2021 results along with strong segmental performance in July.Image Source: Zacks Investment ResearchIts long-term expected earnings growth rate is pegged at 9.6%. This Zacks Rank #3 company is expected to report 2021 revenue growth of 20.7%. Over the past year, the stock has gained 36.5% compared with the industry’s 14.9% rise.Renowned medical technology company, SeaSpine Holdings Corporation SPNE, entered into a distribution agreement with OrthoPediatrics this month to exclusively distribute its 7D Surgical FLASH Navigation platform for pediatric applications.Image Source: Zacks Investment ResearchIts expected earnings growth rate for 2022 is pegged at 14.4%. The company is likely to report 2021 revenue growth of 31.1%. Over the past year, this Zacks Rank #3 company has gained 14.8% compared with the sector’s 0.2% rise. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Stryker Corporation (SYK): Free Stock Analysis Report ORTHOFIX MEDICAL INC. (OFIX): Free Stock Analysis Report NuVasive, Inc. (NUVA): Free Stock Analysis Report Zimmer Biomet Holdings, Inc. (ZBH): Free Stock Analysis Report SeaSpine Holdings Corporation (SPNE): Free Stock Analysis Report OrthoPediatrics Corp. (KIDS): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksSep 23rd, 2021

Fourth Coronavirus Stimulus Checks Finally Coming, But For Specific Workers

A fourth federal stimulus check is finally coming, but it’s not for everyone. These fourth coronavirus stimulus checks will cover specific workers who were hit hard by the pandemic. Such workers would get up to $600 stimulus checks as part of the United States Department of Agriculture’s Farm and Food Workers Relief (FFWR) grant program. […] A fourth federal stimulus check is finally coming, but it’s not for everyone. These fourth coronavirus stimulus checks will cover specific workers who were hit hard by the pandemic. Such workers would get up to $600 stimulus checks as part of the United States Department of Agriculture’s Farm and Food Workers Relief (FFWR) grant program. .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Ray Dalio Series in PDF Get the entire 10-part series on Ray Dalio in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q2 2021 hedge fund letters, conferences and more Fourth coronavirus stimulus checks for specific workers The Farm and Food Workers Relief (FFWR) grant program sets aside $700 million to support farm and food workers impacted by the pandemic. This program will be funded by the Consolidated Appropriations Act of 2021, which supports community development financial institutions that cater to minority communities. The state agencies, tribal entities and nonprofits can apply for the grant under the program. Such entities, however, will need to prove that they are capable of reaching the hard-to-reach populations either directly or through local organizations. The institutions that will get funds under the program will, in turn, be responsible for distributing those funds to eligible farm workers and meatpacking employees. “This grant program is another component of this administration’s efforts to ensure assistance to alleviate the effects of the pandemic is distributed to those who need it most,” USDA (U.S. Department of Agriculture) said in a press release. Employees, who incurred expenses in preparation for or preventing exposure to the coronavirus pandemic can get up to $600 in stimulus payment. Those who wish to apply for the grant can submit an application to the Department of Agriculture through www.grants.gov. The application process is expected to start in the fall. Front-line grocery workers also eligible Of the $700 million for farm and food workers, $20 million will be for a pilot program. This pilot program would support front-line grocery workers to cover coronavirus pandemic related expenses, such as the purchase of personal protective equipment (PPE), expenses for COVID-19 testing or quarantine and dependent care. The eligible farm workers and meatpacking employees would get up to $600, but it isn’t clear how much the front-line grocery workers will get. Though the funding for the program comes from the federal government, the IRS won’t be responsible for distributing the funds. Rather, the state agencies, nonprofits and tribal entities will be responsible for distributing the payment. These institutions will first need to apply for the funds, and then distribute them to the workers. Those who aren’t eligible for payment under the Farm and Food Workers Relief program can still get benefits from other federal programs. Two such programs are the expanded child tax credit and the emergency rental assistance program. The expanded child tax credit provides eligible families with up to $3,600 per child through a combination of monthly payments (from July to December) and a lump sum payment at the time of filing a tax return next year. Updated on Sep 21, 2021, 9:55 am (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkSep 21st, 2021

Google buying St John’s Terminal building for $2.1B

Google today announced its intent to purchase the St. John’s Terminal development that it currently leases for $2.1 billion in Q1 2022.  Google’s decision to exercise its option to purchase St. John’s Terminal further builds upon its existing plans to invest more than $250 million this year in its New... The post Google buying St John’s Terminal building for $2.1B appeared first on Real Estate Weekly. Google today announced its intent to purchase the St. John’s Terminal development that it currently leases for $2.1 billion in Q1 2022.  Google’s decision to exercise its option to purchase St. John’s Terminal further builds upon its existing plans to invest more than $250 million this year in its New York campus presence. Google’s 1.7 million-square-foot Hudson Square campus spans three buildings: 315 Hudson Street, 345 Hudson Street and St. John’s Terminal at 550 Washington Street. Google’s spaces in the two Hudson Street buildings are now completed, and the St. John’s Terminal anchor site is expected to open by mid 2023 as the new NYC headquarters for Google’s Global Business Organization. “New York’s energy, creativity and world-class talent are what keep us rooted here and why we’re deepening our commitment with plans to purchase St. John’s Terminal,” said Ruth Porat, Alphabet and Google CFO. “We look forward to continuing to grow along with this remarkable, diverse city.” “This announcement from Google is yet another proof point that New York’s economy is recovering and rebuilding. We are creating jobs, investing in emerging industries, lifting up New Yorkers, and together, we are writing our comeback story,” said Governor Kathy Hochul. “Google’s historic investment in New York City marks an enormous step for our recovery,” said Mayor Bill de Blasio. “The purchase of St. John’s Terminal will ensure New York remains a global leader in technology as well as a place that people are excited to live and work in.” The St John’s Terminal site was acquired for $700 million in 2017 by Oxford Properties, the project’s lead developer, and is a joint venture with Canada Pension Plan Investment Board. The 12-story, 1.3 million-square-foot St. John’s Terminal site encompasses two entire city blocks adjacent to Hudson River Park’s Pier 40 and is currently under construction.  “When we acquired the St. John’s Terminal site in 2017, we saw an incredible opportunity to rethink the modern workplace and bring that vision to New York,” said Dean Shapiro, Head of US Developments at Oxford Properties. “From day one of our partnership on the project, it was clear that Oxford and Google’s vision for the future of work were fully aligned. Today showcases our deeply shared commitment to the future of the office, and the great city of New York, as we drive innovation and creativity in the heart of NYC.” The former freight terminal is being reimagined into a highly sustainable, adaptable and connected building, with its biophilic design adding numerous outdoor open spaces and reconnecting the Hudson Square neighborhood to the waterfront. The building will also offset 100% of its carbon in support of Google’s carbon goals, in addition to pursuing LEED Platinum and ILFI (International Living Future Institute) Zero Carbon certifications. “St. John’s Terminal gave us the opportunity to design a healthy, high-performance building for Google that will connect Hudson Square to Hudson River Park with new public greenspaces and pathways, honor the industrial history of the area, and serve as a model for the sustainable future of New York City,” said Rick Cook, Founding Partner of COOKFOX Architects. As part of investing in its long-term campus footprint in New York City, construction is also proceeding at Pier 57 where Google will occupy about 320,000 s/f office space. Once completed next year, the site will also include a public food hall, community space, galleries, the city’s largest public rooftop space, and educational and environmental programs run by the Hudson River Park Trust.  Pier 57 rendering Google has had a presence in New York for more than 20 years, with 12,000 full-time employees in the state as Google’s largest office outside of California. The company’s campus investments will provide the capacity to grow its workforce in the city to more than 14,000 employees in the coming years. As part of its previously announced racial equity commitments, Google also plans to continue expanding the number of employees in diverse communities including New York that contribute to a high quality of life for Black+ Googlers. Google remains focused on helping local communities, organizations and people emerge stronger from the pandemic. Since 2005, Google has provided over $170 million in grant funding to nonprofits in New York. In the Hudson Square neighborhood, the company is supporting the new Jackie Robinson Museum opening next year with a grant to help deliver new educational programming for students. Google also provided grant funding to the Children’s Museum of the Arts to help launch new digital programming for childhood arts education, and to God’s Love We Deliver to offer free nutritious meals and services for those living with HIV/AIDS, cancer and other serious illnesses.  Jackie Robinson Museum rendering via Gensler Google also continues to invest in growing the next generation of tech talent. Its Grow with Google programs are helping to create new pathways to in-demand, good paying tech jobs for people most impacted by the pandemic. Through Google’s skilling programs, more than 3,800 New Yorkers have completed a certificate program to date. Google is also working with select CUNY/SUNY Schools to add Google Certificates to their curriculum as part of the SUNY for All free online training program. “We are excited to see Google expand its footprint here in New York City bringing opportunities for thousands of tech and related good-paying jobs. It is a true commitment to the City’s economic recovery and the future of the workplace, proving New York City is a thriving vital place in the global tech landscape,” said New York City Economic Development Corporation President and CEO Rachel Loeb. “The announcement by Google today reinforces what we’ve known all along: that New York is a great home for the tech industry,” said Bill Rudin, CEO and Co-Chairman of Rudin Management Company. “Google has been a great partner to this city and their continual investment and growth here is a strong demonstration of their commitment to New York and of the strength of our economic future.” St. John’s Terminal renderings all via COOKFOX Architects The post Google buying St John’s Terminal building for $2.1B appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklySep 21st, 2021

New space for tech entrepreneurship opens in Nob Hill

The space is being funded with a federal Scaling Pandemic Resilience Through Innovation and Technology, or SPRINT, Challenge grant......»»

Category: topSource: bizjournalsApr 23rd, 2021

Local water filtration firm secures $2M from investors; opens new Olive Branch facility

The company cleans water for both use and reuse in industrial, municipal, and residential applications. Glanris currently works with a variety of industrial customers, from HVAC manufacturers to automobile makers......»»

Category: topSource: bizjournalsMar 24th, 2021

DoorDash opens applications for Covid-19 restaurant relief grants

DoorDash Inc. will make $5,000 grants to 45 restaurants in Sacramento as part of its Covid-19 relief program......»»

Category: topSource: bizjournalsJan 29th, 2021

State begins accepting applications for $500 million in Covid-19 relief grants

The application window for a new half-billion-dollar Covid-19 financial relief program run by California is now open. The state is offering small businesses and nonprofits grants up to $25,000 to provide assistance during the Covid-19 pandemic. .....»»

Category: topSource: bizjournalsDec 30th, 2020

Beaverton opens application period for rent assistance grants

The city of Beaverton on Monday opened the application period for a second round of rent assistance grants. The city is once again giving $250,000 in grants to small businesses, including art galleries, restaurants and salons. The maximum grant is $2.....»»

Category: topSource: bizjournalsMay 4th, 2020

Kupu opens applications for next generation of Hawaii conservation leaders

Kupu, a local conservation and environmental education nonprofit, announced that it is opening applications for participants in its Conservation Leadership Development Program. The 11-month, paid program is open to high school graduates, college gr.....»»

Category: topSource: bizjournalsApr 30th, 2020

SBA opens special window for small lenders to file PPP applications

The SBA is only allowing lending institutions with less than $1 billion in assets to file Paycheck Protection Program applications from 3 p.m. to 11 p.m. CDT Wednesday......»»

Category: topSource: bizjournalsApr 29th, 2020

Bankers bemoan delays as PPP 2 opens to "unprecedented demand"

The U.S. Small Business Administration reopened applications to the program at 10:30 a.m. Five hours later, 100,000 loans had been processed — but it wasn't easy......»»

Category: topSource: bizjournalsApr 29th, 2020

SBA"s PPP loan portal opens again — but these business groups are still shut out

Not all business nonprofits are treated the same under the CARES Act......»»

Category: topSource: bizjournalsApr 27th, 2020

SA hospital system owner providing more than $1M to area nonprofits

Methodist Healthcare Ministries of South Texas Inc. has awarded more than $1.1 million in emergency grant allocations to nearly four dozen health and social service agencies in its 74-county service area to fund Covid-19 response and recovery efforts. .....»»

Category: topSource: bizjournalsApr 27th, 2020

Hawaii nonprofits may be eligible for FEMA grant

Private nonprofit organizations in Hawaii may be eligible for the Federal Emergency Management Agency’s public assistance program as part of a presidential major disaster declaration, according to a recent statement sent out by the state Departme.....»»

Category: topSource: bizjournalsApr 24th, 2020