On Tuesday night, Tedeschi Trucks Band offered up a performance at Sacramento, CA’s Sacramento Memorial Auditorium. Los Lobos handled the evening’s opening duties, followed by members of the band sitting-in with TTB towards the end of their one-set show.Derek Trucks and Susan Tedeschi led their band through a show-opening take on “Laugh About It”, off of the band’s recent Signs release. The 12-piece ensemble marched forward with a smooth-segued pairing of “Don’t Know What It Means” into “The Letter”, which was followed up by “When Will I Begin” and “Part Of Me”. Next, Tedeschi Trucks Band worked through a a trio of choice covers with Bob Dylan‘s “Down In The Flood”, Derek & The Dominos‘ “Keep On Growing”, and Willie Nelson‘s “Somebody Pick Up My Pieces”.Following “Signs, Hard Times”, Tedeschi Trucks Band welcomed Los Lobos guitarist Cesar Rosas for a take on Elmore James‘ “The Sky Is Crying”. Rosas, Trucks, and Tedeschi took the opportunity to fire back and forth some spicy guitar licks, as the band floated into a bluesy, improvisational segment of the show. Following Rosas’ sit-in, the band then invited Los Lobos guitarist David Hidalgo and multi-instrumentalist Steve Berlin to the stage for a pairing of “Leavin’ Trunk” and “Volunteer Slavery”. Moving back into their regular 12-piece configuration, Tedeschi Trucks Band offered up a soul-cleansing take on “Shame” before closing out their mainframe with “Midnight In Harlem”.Following a brief chance to catch their breaths, Tedeschi Trucks Band returned to deliver a two-song encore with Joe Tex‘s “Show Me” and The Coasters‘ “Let’s Go Get Stoned”.Luckily for fans that were unable to attend Tuesday night’s show, there’s some great fan-shot video footage that you can watch below:Tedeschi Trucks Band w/ Cesar Rosas – “The Sky Is Crying”[Video: Freakflagflyer]Tedeschi Trucks Band w/ David Hidalgo & Steve Berlin – “Leavin’ Trunk / Volunteer Slavery”[Video: Freakflagflyer]Tedeschi Trucks Band – “Part Of Me”[Video: Freakflagflyer]Next up for Tedeschi Trucks Band is a two-night run at Seattle, WA’s Paramount Theater this Thursday and Friday, May 23rd and 24th. For ticketing information and a full list of the band’s upcoming tour dates, head to their website.Setlist: Tedeschi Trucks Band | Sacramento Memorial Auditorium | Sacramento, CA | 5/21/2019Set: Laugh About It, Don’t Know What It Means > The Letter, When Will I Begin, Part Of Me, Down In The Flood, Keep On Growing, Somebody Pick Up My Pieces, Signs Hard Times, The Sky Is Crying (w/ Cesar Rosas), Leavin’ Trunk/Volunteer Slavery (w/ David Hidalgo & Steve Berlin), Shame, Midnight In HarlemEncore: Show Me, Let’s Go Get Stoned
Former Sierra Club chairman Carl Pope took an unusual stance for an environmentalist on Wednesday, saying that in order to meet the massive challenge posed by climate change, America needs more manufacturing.At a time when living sustainably and reducing waste are key topics in the national environmental discussion, Pope added a new wrinkle. The transformation required to meet the climate challenge, he said, involves no less than rebuilding or refurbishing virtually every American home, factory, school, power plant, hospital, and motor vehicle to become cleaner and greener over the next three to four decades.That level of transformation will require a host of new environmentally friendly products that can be delivered by high-tech manufacturing, much of which left the United States in recent decades. These are the factories and jobs, Pope said, that America should fight to get back. In addition to providing access to new products, the advanced factories would create related supply chains and distribution networks that would provide thousands of jobs and help further transform the economy, he said.Pope spoke at the Science Center in a talk titled “Bringing Back America: How Reviving Our Manufacturing Sector Is the Big Issue in the 2012 Election.” The talk was presented by the Harvard University Center for the Environment as part of its Future of Energy lecture series. Pope was introduced by center director Daniel Schrag, the Sturgis Hooper Professor of Geology and professor of environmental science and engineering. He said that the Sierra Club, under Pope’s leadership, became the nation’s leading environmental nongovernmental organization.Pope, who graduated from Harvard College in 1967, said one thing he learned here was to be skeptical of accepted wisdom, because a lot of times, it’s wrong. Today, he said, it is becoming clearer that our concept of what’s going on with global warming is wrong. Though it may be true that Earth, on average, is getting warmer, the manifestation of that change will not necessarily be a steady change to a warmer climate, but rather widespread climate instability. This will ultimately threaten the age-old association between certain climates and specific locations.“What we are doing is unleashing a highly unstable climate rather than an intrinsically warmer climate,” Pope said.Pope said there are also misconceptions about why America has lost advanced manufacturing sectors. One of the biggest, he said, is that U.S. wages are too high. While that may be the case for low-tech manufacturing of clothing and shoes, industries that can employ workers with few skills, advanced manufacturing requires skilled workers. Wages, to begin with, make up just 10 percent of electronic factories’ cost. In addition, Pope said, the wages being paid to workers in countries that lure these jobs away aren’t markedly different from those in the United States.Instead, Pope said, it is worker shortages, infrastructure problems, and a tangle of rules, regulations, and tax policies that ultimately make the United States appear unfriendly to these industries. He offered several examples, including one involving a windmill manufacturer that had to ship huge turbine blades across several states to their destination. Because states regulate highway transit differently, the shipping required a crane at each state border to reposition the blades. The existence of regulations determining how such large objects are shipped isn’t a problem, Pope said, but that they are different for each state presents a huge obstacle.He offered another example of a chip plant proposed for Long Island that wound up moving to Taiwan when its water supply couldn’t be guaranteed. The developer, Pope said, was told that the priority for water in a drought would be below that of golf courses because they were built first. Even American automakers are burdened by the U.S. system of having employers, not the government, pay for retiree pensions and health care, creating a lasting burden long after workers have left the factories.“The fundamental reason we’re not keeping high-tech manufacturing in the United States is that the government in the United States doesn’t make a priority of it,” Pope said. “Public policy in this country is not designed to enable people to make things in the U.S.”Though the issues are complex, because the obstacles are related to policy, they can be fixed with the right leadership, Pope said. He cited the case of the U.S. semiconductor industry, which was shifting to Asia in the 1980s when the Reagan administration made a concerted effort to keep it, and the Obama administration’s efforts to lure back advanced battery manufacturers — seen as a key component in electric vehicles — which increased the U.S. share of the industry from 3 percent to 35 percent in several years.“If I am even vaguely right, our economy has to be highly innovative and fast moving,” Pope said. “We have to again be a country that makes things.”
On the Blogs: Bankrupt Coal Companies Don’t Always Stop Mining Coal FacebookTwitterLinkedInEmailPrint分享Daniel Cohan for TheHill.com:The largest pillar of the coal industry has now fallen. In filing for bankruptcy last week, Peabody Energy joined Arch Coal, Patriot Coal, Walter Energy and Alpha Natural Resources among the largest coal mining companies recently facing this fate.Coal emits more air pollutants and climate warming gases than any other fossil fuel, and its mining can devastate local ecosystems and watersheds. Curtailing the amounts of coal mined and burned would thus yield a myriad of benefits for the environment and health.However, the road to bankruptcy court doesn’t necessarily mark the path to a sustainable energy future. It is time to think afresh about how the environment and health can be considered in coal bankruptcies.Like most of its peers, Peabody chose Chapter 11 for its bankruptcy filing. Unlike a Chapter 7 liquidation, Chapter 11 allows a company to continue operating while it manages its debts and seeks to emerge as a viable corporation. Peabody’s statement said it intends to continue operating its mines uninterrupted as the bankruptcy process proceeds.Thus, while bankruptcy can crimp the finances of creditors and investors, it won’t necessarily cut coal mine output. In fact, coal companies seeking to pay off creditors may face pressure to maintain revenues from coal.The challenge of maintaining revenue has grown as coal prices have fallen. Coal from Wyoming’s Powder River Basin, widely used for its low sulfur content, has fallen to $9.35 per ton. I’d call it dirt cheap if I knew anywhere selling dirt for less than half a penny per pound.With coal so cheap, its sales likely generate far less revenue than its damage to health and the environment. Since coal is composed primarily of carbon atoms, each of which combines with two oxygen atoms to form carbon dioxide, burning coal generates about 1.87 times its own weight in carbon dioxide.In other words, Powder River Basin coal mines are receiving only about $5 per ton of carbon dioxide that their coal generates when burned. The revenue per ton of pollution would be even lower if we consider life cycle impacts such as the diesel emissions needed to mine and transport the coal and the methane released from the mine.Virtually all estimates of the social cost of carbon to climate change are many times higher than $5 per ton. That’s even before considering environmental impacts beyond climate such as damage to air quality, water and wildlife.In other words, society as a whole pays a very high price as coal mining companies seek to pay off their creditors in bankruptcy. It could even be argued that a domino effect of coal mining bankruptcies has taken hold, as the urgency of already-bankrupt companies to pay off creditors has kept coal mine output from falling sufficiently. Though coal mining is down sharply, unusually large stockpiles of coal show that mining has not fallen fast enough to offset the effects of cheap natural gas and growing deployments of renewables.Bankrupt coal companies create an additional burden if they do not cover the environmental damages they have caused. Communities near coal mines have reason to be concerned about whether adequate steps will be taken to remediate coal mines owned by bankrupt companies.All of these factors receive insufficient attention in bankruptcy proceedings, as repayment of creditors and restructuring of debts dominates deliberations. How best to give the environment and public health seats at the table in bankruptcy court requires legal expertise far beyond my training as an environmental engineer. Nevertheless, the prices and emissions calculations provided here demonstrate that the coal assets owned by these bankrupt companies may be far more valuable to society if left in the ground rather than mined to pay off creditors.Cohan is associate professor of civil and environmental engineering at Rice University.When coal companies go bankrupt, the mining doesn’t always stop
Sign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York Seaford Middle School was evacuated for a bomb threat on Wednesday morning, Nassau County police said.A police spokeswoman said school officials called 911 at 9:35 a.m. reporting the discovery of “some sort of written threat,” although it wasn’t immediately clear if it was a note or a message written on a wall.Arson/Bomb Squad detectives are on the scene searching the campus.The incident comes a day after Elmont High School was put on lockdown when a student brought a toy gun to school.
The U.S. House approved a bill Wednesday that would allow credit unions and other lenders to treat mortgages held in portfolio as qualified mortgages (QM) for purposes of the Consumer Financial Protection Bureau’s (CFPB) mortgage lending rules. The vote was 255-174.CUNA supports the bill, The Portfolio Lending and Mortgage Access Act (H.R. 1210). CUNA President/CEO Jim Nussle contacted House lawmakers earlier this week encouraging them to approve the legislation that would help reduce operational barriers for credit unions.CUNA maintains that when a credit union is willing to hold a loan in its portfolio, thereby having “skin in the game,” there should be the presumption that the loans is as worthy as a standard QM loan even if it might not meet all of the technical requirements.Mortgage lending, CUNA has noted in support of the bill, is a key service that credit unions provide, and enactment of H.R. 1210 would bring meaningful regulatory relief, allowing credit unions to more fully serve their members. continue reading » 17SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr
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The government’s recently issued import policy has failed to ensure a steady supply of garlic as importers have been late to complete garlic imports, Business Competition Supervisory Commission (KPPU) commissioners have said.KPPU commissioner Guntur Saragih said on Thursday that the Trade Ministry needed to evaluate its importers because garlic prices were currently high even though the government had rolled out import relaxations.”Under current conditions, a mere relaxation is not enough. There needs to be an emphasis on industry players promptly completing their imports because what we need is stock availability,” Guntur said in a teleconference. Guntur’s statement came after the Trade Ministry issued a policy that temporarily removed import permit letters and surveyor’s reports for importers from March 19 to May 31. The ministry previously claimed that importers would no longer need import recommendations for horticulture products from the Agriculture Ministry, though the latter has since refuted the claim.Read also: Staple foods safe, but masks, sanitizer gone from markets as consumer behavior shiftsGarlic and brown onion prices have spiked in the last three months as a result of an increasing shortage of the two commodities.The average price of garlic nationwide was Rp 44,450 per kilogram on Thursday, nearly double the usual price of Rp 25,000 to Rp 30,000 per kg, according to the Information Center for Strategic Food Prices. The price has fallen since mid-February, when it was above Rp 50,000. The average price of brown onion has also increased, with Vegetable and Fruit Importers and Exporters Association data showing that retail prices for the commodity leaped to Rp 170,000 per kg in March, a sharp increase from Rp 62,500 in February and Rp 35,500 in January.The Trade Ministry had imported 11,000 tons of garlic as of March 19, a far cry from its 150,000-ton quota. It had yet to announce its latest figures for brown onion imports as of Friday.Read also: Rising garlic price cannot be blamed on coronavirus: Business watchdogGuntur said this was not the first time that imports lagged behind. Last year, the price of garlic spiked to more than Rp 80,000 per kg due to import recommendations not being issued until April 2019.However, Guntur said his team’s investigation had yet to ascertain whether importers were intentionally holding back imports, a move that could push up prices. He said the commission would act upon this if it found any indication of violations.”If needed, the government could blacklist these naughty importers,” he said.While there is a possibility of importers holding back their supply, Australian National University’s Indonesia Project economist and Center for Indonesian Policy Studies (CIPS) supervisory board member Arianto A. Patunru said on Friday that opening up to more imports was still the “most powerful weapon” to combat such importers.”They are less incentivized [to hold back supply] as they are unable to sell them at a high price because they know that the goods are already present in the market,” he said in a webinar.In contrast to the KPPU, CIPS researcher Felippa Ann Amanta said during the webinar that the ministry’s relaxation had succeeded in stabilizing garlic and brown onion prices. As such, she suggested that the government apply similar policies for sugar and beef since Indonesia relied on imports to fulfill domestic needs for the two commodities.Topics :
The €7.4bn KLM pension fund for ground staff (Algemeen Pensioenfonds) attributed its quarterly return of 1.6% in particular to the performance of equities and real estate, which generated 5.4% and 2.3%, respectively.Its return over the full year was 0.7%, with real estate and equity returning 8.6% and 3%, respectively.It lost 0.9%, however, on its 52% fixed income portfolio.The ground staff scheme closed the year with a funding of 111.1%The €2.5bn KLM pension fund for cabin staff said a fourth-quarter return of 1.9% allowed it to avoid reporting a loss for 2015, ultimately delivering 0.5%.Real estate, returning 8.6% over the year, was the best performing asset class.The scheme said its equity holdings returned 3%, whereas its fixed income generated an annual loss of 1%.At year-end, funding at the Pensioenfonds KLM Cabinepersoneel stood at 108.5%.Meanwhile, the €17.6bn Philips pension fund reported a quarterly return on investments of 1.1%, which it attributed in particular to real estate and equity.It said its annual return was 1.2%.During the past three months, high-yield credit and emerging market debt delivered positive results.In contrast, euro-denominated government bonds, global government bonds and commodities all declined.The pension fund said it official policy funding stood at 111.7% at year-end and that its assets had dropped from €19.8bn to €17.6bn over the fourth quarter.Lastly, the €20bn sector scheme for public road transport (Vervoer) reported annual and fourth-quarter returns of -1.5% and 0.7%, respectively.Vervoer said its policy funding stood at 104.4% at year-end. The three large KLM schemes and the Philips Pensioenfonds have reported “modest” results for 2015, with KLM’s pension fund for cockpit staff performing best with a 2.3% annual return.At least one KLM scheme, thanks to relatively strong performance over the fourth quarter, was able to avoid closing out the full year with a loss, according to the schemes’ quarterly report.The €7.9bn KLM scheme for cockpit staff (Vliegend Personeel) reported a fourth-quarter return of 1.5%.Its policy funding – the criterion for indexation and rights cuts – stood at 122.9% at the end of 2015.
Credit: Manuel JosephShanghai, ChinaAegon Asset Management has signed a memorandum of understanding (MoU) with the Shanghai Lujiazui Administration Bureau, a free trade zone in China, with a view to jointly supporting the establishment of a global asset management centre.Aegon said the agreement “signalled its intention” to set up a subsidiary in Shanghai to distribute products to China’s high net worth and institutional investor sectors.The company already has a partnership in China with Industrial Securities, known as Aegon Industrial Fund Management Company (AIFMC), which was set up in 2008. The new company in Shanghai would “complement AIFMC’s distribution strategy and investment capabilities”, Aegon said.Martin Davis, head of Aegon Asset Management Europe, said: “As signatories we will be one of an early group of global asset managers able to bring world class investment strategies to the domestic Chinese high net worth and institutional market.“As such we are extremely pleased to be working with the Shanghai Lujiazui Administration Bureau to establish this new centre of asset management excellence.” Jean Raby, CEO of Natixis Investment Managers, said: “At a time where the infrastructure investing market is growing significantly, creating a stand-alone specialised affiliate, with an entrepreneurial approach and proven track record, will enable global investors to more easily access the infrastructure investments fitting their specific needs and constraints.”The launch of Vauban follows a number of additions to Natixis’ line up of affiliates focused on real assets and alternatives, including the creation of Flexstone Partners in December 2018, the acquisition of MV Credit in June 2018, and the launch of a private real asset debt co-investment offering run by Ostrum Asset Management and Natixis’ investment banking arm.Aegon targets China onshore market Natixis Investment Managers, one of Europe’s biggest investment houses, plans to launch a new subsidiary focused on infrastructure.Subject to approval by the French regulator, Vauban Infrastructure Partners will oversee €2.8bn in assets and join Natixis’ network of asset manager affiliate companies. It has been spun out of Mirova, which Natixis established in 2014.The affiliate firm will be run as a partnership, Natixis said, with Gwenola Chambon as CEO and Mounir Corm as deputy CEO. The Vauban team has raised five funds and bought more than 50 assets during 10 years of operatons as part of Mirova.Corm said Vauban aimed to double its assets under management in the next few years, adding: “Our mission is to continue to deliver long-term sustainable value to all our stakeholders, including investors, local communities, public entities, employees, and industrial partners, with the highest quality of service.”
Loading… Upcoming matches in Italian Serie A and the Europa League will be played behind closed doors to combat the spread of coronavirus, the Italian sports minister announced on Monday evening. A bar next in central Milan closes following security measures against the coronavirus mount “Following the demands of the sports world and knowing that the ban on sporting events open to the public remains in force in six regions of northern Italy, we have agreed to the holding of matches behind closed doors,” said Sports Minister Vincenzo Spadafora after a meeting of the Council of Ministers. Inter Milan themselves announced their Europa League match with Ludogorets on Thursday would be played with no fans present. “In agreement with UEFA, the Lombardy regional health authorities and Milan city council, our return game with Ludogorets will be played behind closed doors,” an Inter statement said. The sports minister did not specify which Serie A matches at the weekend would be included in the ban. There are six games in the regions he mentioned, including the clash on Sunday evening between leader Juventus and third-place Inter. Italy reported its seventh death from the virus on Monday and it has the most confirmed cases in Europe. Eleven towns – 10 in Lombardy and one in neighbouring Veneto – are under lockdown, with some 50,000 residents prohibited from leaving. Promoted ContentThe Models Of Paintings Whom The Artists Were Madly In Love With7 Non-Obvious Things That Damage Your Phone5 Of The World’s Most Unique Theme Parks9 Facts You Should Know Before Getting A TattooWho Is The Most Powerful Woman On Earth?Who Earns More Than Ronaldo?This Is The First Meme Ever, According To The Internet7 Reasons Why You Might Want To Become A VegetarianWho Earns More Than Ronaldo?11 Most Immersive Game To Play On Your Table TopWhich Country Is The Most Romantic In The World?8 Most Interesting Sylvester Stallone Movies Napoli’s Champions League match against Barcelona on Tuesday is not at risk. The alternative to banning fans is to postpone games and Gabriele Gravina, the president of the Italian Football League made clear earlier in the day that he was opposed to that. Read Also: UCL: Lampard hopeful Chelsea underdogs can bite Bayern again “We have made an official request to Health Minister Roberto Speranza to have this game played behind closed doors,” Gravina told the press. “We expect a quick response, but we have been told that the outcome will be positive.” Other sports were also hit with the Italian Olympic Committee (CONI) confirming that in line with government instructions, all events in the Lombardy and Veneto regions would be postponed. Regional authorities have ordered gathering spots, such as bars, restaurants, cinemas and discos to close. FacebookTwitterWhatsAppEmail分享