Frank Steps In to Defend Reform Act

first_img July 23, 2014 519 Views in Daily Dose, Government, Headlines, News Frank Steps In to Defend Reform Act Former Congressman Barney Frank testified before the House of Representatives Committee on Financial Services on Wednesday, arguing that the Dodd-Frank Wall Street Reform and Consumer Protection Act and the voluminous set of regulations that followed shortly thereafter was a positive for the economy and safeguarded the American public from ever having to face an economic down turn the likes of the great recession ever again.Frank, a former chairman of the committee he now sat in front of, was one of five witnesses called before the committee to assess the impact of the law from multiple angles. He was the lone witness to testify in favor of the law.In the more than three hour long hearing, Frank and others faced tough questions on the effect that the act has had on the economy and the value of the changes when compared with the toll it takes on financial services firms ranging from community banks to the largest players in the industry.Frank took the opportunity to push back against recent Republican criticisms. For example, there has been mounting sentiment in recent weeks that the law’s process for empowering regulators to designate nonbank financial institutions as “systematically important” amounts to the government assuring investors that the institutions would be bailed out in the event that they were to collapse.”Every institution which has been threatened with being named has reacted very violently and very negatively,” he said in response. “I think that’s a very Marxist analysis, but the Marx in question is Chico,” he continued, quoting comedian Leonard “Chico” Marx of the Marx Brothers as saying, “‘Who are you going to believe, me or your eyes?’ Who are you going to believe, your own viewpoint or what financial institutions tell you?” Frank said.Adding to the complexity is the fact that about half of the Dodd-Frank rules have yet to be finalized, creating a regulatory landscape that is murky at best. “The rules will be completed before any major crisis that they are intended to prevent, but later than they should be for the certainty that financial institutions deserve,” Frank said.House Republicans have taken advantage of the four year anniversary of the President signing the act into law to highlight what they argue as the unmitigated failure of the act to fix the issues that caused the financial crisis and the overly burdensome regulation that it created for financial institutions.On Monday, House Republicans introduced a 100 page report critical of the law, asserting that the law does not end the prospect of banks being too big to fail as advertised.”Dodd-Frank has always been based on upon a false premise that somehow deregulation or lack of regulation led us into the crisis,” said Jeb Hensarling (R-Texas), chairman of the committee, in his statement to open the hearing. “However in the decade leading up to the crisis, studies have shown that the regulatory burden on the financial services industry actually increased. There were few industries that were more-highly regulated; FDICIA, FIRREA, Sarbanes-Oxley, the list goes on.”Republicans argue that unless the law is repealed, the volume of regulation will only grow larger and more complex. Multiple Republicans at the hearing cited examples such as JPMorgan hiring 10,000 new compliance staff in the past two years to deal with issues stemming from the new regulations.”I’m not embarrassed,” said Frank in response to the example. “They were not over-compliant by any means.”center_img Barney Frank Dodd-Frank House Financial Services Committee Regulation 2014-07-23 Derek Templeton Sharelast_img read more

FILE In this May 21 2016 file photo Pauley Per

first_img FILE – In this May 21, 2016 file photo, Pauley Perrette attends “An Evening with Women” held at the Hollywood Palladium in Los Angeles. Perrette says CBS has always been good to her and has always had her back, days after she said she suffered “multiple physical assaults” before leaving “NCIS” after 15 seasons. Perrette tweeted Tuesday, May 15, 2018, after CBS said that Perrette had “a workplace concern” more than a year ago, and the company took the matter seriously and worked with her to find a resolution. (Photo by Richard Shotwell/Invision/AP, File) After assault tweets, Pauley Perrette of ‘NCIS’ thanks CBS by The Associated Press Posted May 16, 2018 12:31 pm PDT Last Updated May 16, 2018 at 1:01 pm PDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Emailcenter_img LOS ANGELES, Calif. – Actress Pauley Perrette thanked CBS for its treatment of her, days after saying she suffered “multiple physical assaults” without describing them before leaving “NCIS” after 15 seasons.“I want to thank my studio and network CBS They have always been so good to me and always had my back,” Perrette tweeted late Tuesday just after CBS issued its own statement.“Over a year ago, Pauley came to us with a workplace concern,” CBS Television Studios said. We took the matter seriously and worked with her to find a resolution. We are committed to a safe work environment on all our shows.”Neither Perrette nor CBS have offered any specifics on what happened to her or who was responsible. A CBS spokesman declined further comment Wednesday, and Perrette’s publicist did not immediately respond to an email seeking more information.The network on May 8 aired the final “NCIS” episode for Perrette’s character, Abby, drawing more than 15 million viewers who made it the second highest rated show of the week.Then over the weekend she sent a series of long, vague tweets saying she had been assaulted but has “refused to go low” and publicly air what happened.“It’s horrifying. I left. Multiple Physical Assaults,” Perrette said in the first of four tweets sent Saturday and Sunday on the subject. “I REALLY get it now. Stay safe. Nothing is worth your safety. Tell someone.”She went on to say there was a “machine” keeping her silent and feeding false stories about her, and that tabloid articles were telling “total lies” about her, again without giving specifics.“Maybe I’m wrong for not ‘spilling the beans,’ Telling the story, THE TRUTH,” she tweeted. “I feel I have to protect my crew, jobs and so many people. But at what cost?”last_img read more

Rep Allor commends budget focus on natural resources

first_imgIncreasing funding for public safety by adding 100 more Michigan State Police troopers. These bills now head to the Senate for consideration. Making life better in communities across Michigan by adding money for road repairs, public safety departments, parks and other programs to improve our daily lives. #### State Rep. Sue Allor on Tuesday voted for passage of the state budget, which includes record funding for K-12 education and a 2.2 percent reduction for the general state budget.Allor, of Wolverine, who serves as chair of the Appropriations Subcommittee on Natural Resources and vice chair of the Subcommittee on Health and Human Services, said the budget expands funding for one popular Northern Michigan activity and works to protect another outdoor sport.“We will continue funding of our trails, which make it easier for people to enjoy the splendor of our natural treasures throughout all of Northern Michigan,” Allor said. “We also invested $1 million into chronic wasting disease research to maintain a healthy deer population for our many sportsmen and sportswomen.”Highlights of the budget include:Allocating the highest funding in state history for K-12 schools with a proposed $14.3 billion; improving access to skilled trades training through career and technical education. Making health care more effective and efficient, with an enhanced focus on improving mental health care. 03May Rep. Allor commends budget focus on natural resources Categories: Allor News,News Paying down retiree debt and adding to state government’s main savings account for tough times, pushing that emergency fund above $1 billion.last_img read more

House approves Rendon bill to expand skilled trades in schools

first_imgAllow proprietary schools, community colleges and skilled trade employers access – with parental consent – to high school pupil directory information for the purposes of recruitment and career opportunities; Permit schools to more readily hire professional trade instructors to teach classes that align with their expertise.“This moves our education programs toward what works and is in demand across north central Michigan,” Rendon said. “The opportunities are here right now. Bringing more specialized instruction will help our students now and in their own future.”The legislative package advances to the Senate for its consideration.##### The House today approved legislation introduced by state Rep. Daire Rendon to create age-appropriate skilled trades learning programs in each grade level of Michigan’s school districts.“We needs to allow for students to develop their interests and goals as they advance through their educational career,” said Rendon, of Lake City. “Blending in instruction with real- world applications can be just as impactful as the core subjects of math, English language arts and the social sciences. It all works together to set our students up for a bright future after high school.”House Bill 5139 tasks the state Department of Education with developing a K-12 framework for skilled trade instruction. It also allows local school districts to work with area families, businesses and jobs training programs to provide strategies for career development education.Rendon’s legislation is part of a bipartisan five-bill package to enhance skilled trade education, while helping students find career opportunities to match their interest and abilities. The four other bills will:Provide continuing education and professional development credit for teachers who spend time engaging with local employers and professional trade centers; 13Dec House approves Rendon bill to expand skilled trades in schools Categories: Daire Rendon News,News,Rendon Newslast_img read more

Polish broadcaster TVN Groups share of profits fr

first_imgPolish broadcaster TVN Group’s share of profits from pay TV operator nc+ and ISP Onet.pl helped boost reported EBITDA for the first quarter, despite a decline in revenue as a result of the weak advertising market.TVN Group posted first quarter EBITDA of PLN98 million, up 9%. Revenue fell by 6% to PLN343 million.“Results of the first quarter reconfirm ability of TVN Group to preserve profitability without impacting quality of its key asset – the programming schedule and its strong performance,” said CEO Markus Tellenbach. “The management reiterates previously given guidance for mid-single digit decline of TV advertising market in full year 2013. The company is prepared to take further potential cost optimisation actions for the purpose of maintaining EBITDA performance in case market does not deliver in alignment with the guidance. At the same time however, we effectively pursue our strategic growth directions – expanding TVN Group’s position as the first choice advertising provider with increasing pricing power and the fastest growing online non-linear video platform.”last_img read more

Settop provider Pace said it expects its fullyea

first_imgSet-top provider Pace said it expects its full-year results for 2013 to be ahead of the board’s previous guidance, after making good progress in “previously under-penetrated markets such as cable in Europe and IPTV.”In an unaudited trading update, Pace said that it expects revenues to be up 2.4% at US$2.46 billion (€1.81 billion) and adjusted EBITA to be “at least” US$190m – up 20% year-on-year.Pace said that in 2013 it had made a number of key wins and had put a strong focus on product and customer project delivery for major launches and deployments in 2014.It also said that its acquisition of Aurora Networks, which closed on 6 January 2014, enhances Pace’s strategy “to widen out and build a broader platform from which to drive revenue.”“Pace has performed above expectations in 2013. We continue to lead the market in innovation with great products and services, demand from our customers has remained strong and we continue to win new business,” said Pace CEO Mike Pulli. “We are confident about our trajectory and are focused on making further progress in 2014.”last_img read more

Euronews logged record YouTube viewing figures in

first_imgEuronews logged record YouTube viewing figures in 2013, claiming a 160% rise in viewing figures over the year and 13.6 million uniques in December. The international news channel claimed the figures establish it as “the world’s number one news media on YouTube” – less than a year after Euronews CEO Michael Peters announced the firm’s strategy to become the most watched news channel on the video site at the MIPTV conference.“I’m very proud of the Euronews YouTube teams led by Mikhail Konrad, senior product manager YouTube . The objective was achieved thanks to their motivation, expertise and collaboration with all the Euronews editorial and technical teams,” said Euronews’ director of product marketing and innovation, Damien Marchi.last_img

Universal Networks International will launch E En

Universal Networks International will launch E! Entertainment in Russia and the CIS countries at the end of this week.The April 25 launch, trailed in January, will bring shows including Keeping Up With the Kardashians, Gossip Girl and the premiere of Rich Kids of Beverly Hills to CIS viewers.Merab Gabunia, managing director of Universal Networks International in Russia, said that the group was looking forward to the launch, which would “inspire and entertain audiences both in Russia and the CIS”.E! Entertainment will replace the existing Diva Universal channel on cable networks including Volia in Ukraine, which is including the channel in a package alongside Universal Channel and will also make it available in its digital tier and as part of its Volia Smart HD offering.

Giuliano Tranquilli Giuliano Tranquili has reunite

first_imgGiuliano TranquilliGiuliano Tranquili has reunited with Switchover Media co-founder Francesco Nespega at Italian indie producer Stand By Me.Nespega bought a 50% stake in Stand By Me last year after selling Italian DTT broadcaster Switchover to Discovery Communications, and has now been named president.His team will includeTranquili, who becomes head of content and business development, Davide Acampara, who is named head of the format department, and Teresa Carducci, who is now head of production.“Bringing together these executives is the key to expanding our business in Italy and abroad,” said founder Simona Ercolani.Tranquili and Nespega both consulted for Discovery after selling Switchover, which they had launched after leading an MBO of Disney-owned Jetix Italy.He oversaw Switchover’s five thematic digital terrestrial channels as partner and head of programming strategy, and before that was also head of brand for MTV.At producer and distributor Stand By Me, which Ercolani created five yars ago, Tranquili will work closely with the format and production divisions to develop in-house productions and oversee international coproductions and partnerships.“We really believe that Stand By Me has the strengths to sell our own original formats, and wealready got interest from Eastern Europe countries,” said Ercolani.“I am incredibly excited about taking on this role and working with a brilliant talent such as Simona Ercolani,” he said.Stand By Me has produced around 300 hours of programming in the factual, factual entertainment, documentary, docu-reality and scripted reality genres.Stand By Me’s programming includes Alta Infedeltà (Hi Infidelity) for Discovery Networks Italy, Sconosciuti (Ordinary People) and Coppie in Attesa (Expecting Couples) for pubcaster Rai, MTV Italy’s local version of 16 and Pregnant and C+I’s crime series 24 Ore per Morire (24 Hours to Die).last_img read more

Discoveryowned Eurosport has teamed up with Tenni

first_imgDiscovery-owned Eurosport has teamed up with Tennis Channel to enhance its coverage of the forthcoming Roland Garros French Open championship.According to Eurosport, the agreement will enable it to distribute additional content during the championship. Eurosport will have access to new camera angles, highlights and archive footage and the ability to integrate this content instantaneously during and in-between live match coverage, the company said.Tennis Channel is incorporating Eurosport into its Roland Garros infrastructure, which is provided by VER, and includes content, its media management system and on-site facilities.  The media management system stores all content generated during the tournament including full matches, highlight packages, images from alternative camera angles and any built elements, such as graphics.In return, Eurosport is making available its content, footage, cameras viewpoints and stand up positions to Tennis Channel to support its broadcast within the US.Peter Hutton, Eurosport CEO, said: “Tennis Channel has been a true innovator in tennis broadcasting in the US and we are looking forward to integrating new ideas, stories and content into our coverage which will engage and excite our fans in Europe.   As we continue to build enhanced and more locally relevant production, our collaboration with Tennis Channel and having even greater access to compelling content is a hugely exciting opportunity for us.”Bob Whyley, Tennis Channel senior vice-president of production and executive producer, said: “Eurosport is one of the best at what they do, and it’s a privilege for Tennis Channel to have the opportunity to work with them. Tennis Channel exists to bring as much tennis as possible to as many fans who want to watch, with high-quality production values that are standard for other sports. Eurosport, with its wide reach as one of the top providers of the sport in Europe, allows us to expand that mission and help give millions more people a better tennis experience.”last_img read more

James Gibbons Discovery has appointed James Gibbon

first_imgJames GibbonsDiscovery has appointed James Gibbons to a new role overseeing its commercial and creative efforts in Africa and the CEE and Middle East (CEEMEA).As executive VP, head of product and business development, CEEMEA, Gibbons will work across Discovery brands, generating new partnerships and consumer offerings.Gibbons, a 20-year Discovery veteran, was previously executive VP & country manager, emerging business, Discovery Networks CEEMEA, and recently oversaw the free-to-air launch of the TLC channel in Turkey.In his new role he will be in charge of the regional commercial, creative and product development teams and report to Kasia Kieli, president and managing director, Discovery Networks CEEMEA.She said: “James has pioneered the way in establishing transformative partnerships and creating new products in territories like Turkey, Africa and the Middle East, and I now look forward to seeing his entrepreneurial spirit and risk-taking mentality in action across the wider CEEMEA region.”Gibbons added: “CEEMEA is a complex and diverse region, with tremendous potential in both the linear and digital space, and I’m looking forward to tapping into every opportunity, bringing Discovery and Eurosport content to more people, across more screens than ever before.”last_img read more

Italian authorities have kicked off the process th

first_imgItalian authorities have kicked off the process that could end with Telecom Italia (TIM) incurring a fine for failing to notify the government that France’s Vivendi had taken de facto control of the company, according to a press report.According to Reuters, citing an unnamed government source, a government panel met yesterday to conclude its investigation into Vivendi’s involvement in TIM and launched the process to fine the operator.The Italian government had been edging towards taking action against TIM and Vivendi for some time, with a growing possibility that it could activate its so-called ‘golden power’ to intervene in the case where national strategic interests are threatened.Markets regulator CONSOB ruled two weeks ago that Vivendi did exercise effective control over TIM, despite the denials of both the telco and Vivendi, its largest shareholder.CONSOB ruled that Vivendi, which holds a 23.94% stake in TIM, “exercises de facto control of TIM pursuant to art. 2359 of the Italian Civil Code and art. 93 of the Consolidated Law on Finance, as well as the rules on related parties”.TIM at the time said that it would “take all appropriate legal actions in order to defend its interests, and is confident its conduct is correct and its arguments are strong.”TIM and Vivendi have denied that the latter has control, arguing that the pair are “coordinating” in specific, limited areas, including the creation of a joint venture between Vivendi’s pay TV subsidiary Canal+ and TIM to create a new premium video service for the Italian market.last_img read more

Hopster the kids learning and entertainment app

first_imgHopster, the kids’ learning and entertainment app, and STV are teaming up to add Hopster content to the broadcaster’s online streaming platform.Hundreds of pre-school titles, such as In the Night Garden, will become freely available on a new dedicated Hopster-branded children’s area within STV Player.The line-up of content integrated within the new STV Player Hopster ‘children’s area’ will be curated to tie into a ‘Discovery Learning Map’, which teaches important early years’ skills such as sharing, turn-taking, numeracy, literacy and more.Hopster’s children’s area will be available on STV Player from this month on a variety of platforms including iPhones and iPads, Android tablets and smartphones.Over 300 episodes of Hopster’s titles will be accessible over the coming months.Nick Walters, CEO of Hopster said: “We couldn’t be more excited to be powering STV Player’s new children’s service. We started Hopster to help make screen time a win-win for kids and parents through fun educational programming without the ads. Through our new agreement with STV, we hope to reach thousands of families and help them keep their little ones entertained in a safe and ad-free environment.”The Hopster partnership is part of STV’s 3-year strategy for creative and digital growth, which will see the company invest £15m in new original content and its digital service STV Player to re-establish STV as an independent creative force in Scotland.last_img read more

Amazon Alexa the AI assistant that launched with

first_imgAmazon Alexa, the AI assistant that launched with the Amazon Echo smart speaker in 2015, will be available on LG Smart TVs in North America later in May.The update will come to sets in Europe and Asia at a later date.It was previously announced in January that Alexa would come to ThinQ AI TVs from LG’s UHD, NanoCell and OLED.Alexa will function through the remote’s Prime Video button. Users can press the button and then speak as they would to other Alexa devices. The LG TVs will support Alexa skills and routines, along with controlling smart home devices.LG TVs also support Google Assistant, and Apple is bringing support for AirPlay 2, Homekit and Siri to the range as well. This means that in the coming months users will have three separate smart assistants to choose from on their TV. The Alexa update will come to the following countries: Austria, Australia, Canada, France, Germany, India, Ireland, Italy, Japan, Mexico, New Zealand, Spain, UK, and US.last_img read more

ShareTweet

first_imgShareTweet POLICE have renewed their appeal for information following a paramilitary style shooting in Derry earlier this week.The gun attack happened in the Culdaff Gardens area on Monday evening, August 29.At approximately 10.35 pm, police received a report that a 40 year old man had been shot in both ankles in the area. It is believed that four masked men were involved in the shooting.The man was taken to hospital for treatment of his injuries which are not believed to be life threatening.Chief Inspector Gordon McCalmont said: “I would ask anyone with information about this shooting to contact detectives at Strand Road Police Station on the non-emergency number 101, quoting reference number 1403 of 29/08/16.“If you would prefer to provide information anonymously contact the independent charity Crimestoppers on 0800 555 111.” PSNI CHIEF APPEALS FOR INFORMATION OVER DERRY PARAMLITARY SHOOTING was last modified: September 1st, 2016 by John2John2 Tags: CHIEF INSPECTOR GORDON MCCALMONTCULDAFF GARDENSDerryPSNIPSNI CHIEF APPEALS FOR INFORMATION OVER DERRY PARAMLITARY SHOOTINGlast_img read more

POLICE have warned young people in Derry of the da

first_img POLICE have warned young people in Derry of the dangers of hurtling around estates in quad bikes.The warning was sounded after police seized this quad bike from an “eejit” driving around the greens of Galliagh.A Foyle police spokesperson said: “Ballyarnett Neighbourhood Team did manage to get this quad near the shop at Fairview when the criminal masterminds got it bogged down and couldn’t get it started in time. BALLYARNETT NEIGHBOURHOOD TEAMgalliaghPOLICE IN DERRY SEIZE QUAD BIKE FROM ‘EEJIT’ WHO GOT STUCK IN THE MUDPSNI FOYLE ShareTweet “There were two other bikes flying around at the same time.“When will these youths realise that they may either end up going to prison for Causing Death/ GBH by Dangerous Driving or end up Dead themselves.“Parents need to step up too.“If your child and his friends are wheeling pit bikes and Quads in and out of your back garden, what do you think they are up to?” POLICE IN DERRY SEIZE QUAD BIKE FROM ‘EEJIT’ WHO GOT STUCK IN THE MUD was last modified: January 28th, 2017 by John2John2 Tags:last_img read more

AN 18yearold male arrested by police investigati

first_img AN 18-year-old male arrested by police investigating a collision on Derry this week has been released on bail pending further PSNI enquiries.A 67-year-old woman was left in a critical condition in hospital following the crash.The two-vehicle accident happened at around 7.30 pm on Victoria Road. Inspector Colin Reeves continues to appeal for witnesses to the collision to come forward.He said: “Investigating officers can be contacted by calling 101, quoting reference number 1046 27/06/17.”TEENAGER RELEASED ON BAIL OVER CRASH WHICH HAS LEFT PENSIONER FIGHTING FOR HER LIFE IN HOSPITAL was last modified: June 29th, 2017 by John2John2 Tags: Her passenger, a 35-year-old man was taken to hospital with non-life threatening injuries.An 18-year-old man, believed to be the driver of the other car, was arrested at the scene and taken into custody to Strand Road police station.Following over a day of questioning, he has now been released on police bail as officers carry out further inquires. INSPECTOR COLIN REEVESTEENAGER RELEASED ON BAIL OVER CRASH WHICH HAS LEFT PENSIONER FIGHTING FOR HER LIFE IN HOSPITALVICTORIA ROADcenter_img ShareTweet The woman is believed to have been the driver of one of the cars.last_img read more

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first_img Facebook Linkedin Next PostKids of the 90s rejoice: Classic Trix Shapes are back Twitter National NewsNewsWatch Gerber is looking for a new Spokesbaby By Daniella HankeyOct 02, 2018, 07:17 am 1084 0 From Oct. 1 to Oct. 20, parents or legal guardians of children from birth to four years old are encouraged to post a favorite, recent photo of their little one on Instagram using #GerberPhotoSearch2018 for a chance to have their child serve as an adorable ambassador for the brand. The winner will be featured on Gerber’s social media channels and the family will win the ultimate grand prize of $50,000. Launched in 2010, Photo Search was inspired by a commitment to do “Anything for Baby” and from the countless photos received over the years of parents who see their little ones in Gerber’s iconic baby logo.“Every year, for our annual Photo Search, we choose the baby who exemplifies Gerber’s long-standing heritage of recognizing that every baby is a Gerber baby,” said Gerber President and CEO Bill Partyka. “Our 2018 Gerber Spokesbaby, Lucas Warren, was the perfect fit to represent the brand. Lucas was chosen out of more than 140,000 entries because of his expressiveness and his contagious smile. We’re excited for Lucas to now pass the torch to our 2019 Gerber Spokesbaby by serving as an honorary judge on this year’s panel!”According to Lucas’s mom, “We have loved every minute of our experience with Gerber and are so proud and humbled by the love the world has shown our little boy. We look forward to meeting this year’s Photo Search winner and can’t wait to see where this incredible journey takes them, just like it has for us!”To enter the photo search, upload and post your little one with #GerberPhotoSearch2018 on Instagram. For official rules, visit Gerber.com/photo-search-2018. Google+ Mail Pinterest Previous PostPennsylvania Man Arrested in Fayette County on Drug Charges FLORHAM PARK, NJ (WOAY)– Early childhood nutrition leader Gerber announced the launch of its ninth annual Photo Search contest, providing parents across the nation the opportunity to see their little one become Gerber’s 2019 Spokesbaby! Tumblr Home NewsWatch National News Gerber is looking for a new Spokesbaby Daniella Hankeylast_img read more

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first_img Mail Tyler Barker Tyler Barker is currently the Interim News Director and Digital Content Manager for WOAY-TV. I was promoted to this job in Mid-November. I still will fill in on weather from time to time. Follow me on Facebook and Twitter @wxtylerb. Have any news tips or weather questions? Email me at tbarker@woay.com CHARLESTON, WV (WOAY) – Due to recent concerns of a potential hay shortage in West Virginia, the West Virginia Department of Agriculture (WVDA), Farm Service Agency (FSA) and WVU Extension Services are offering cattle farmers tips on how to maintain a healthy herd.“Odds are we still have six weeks left of winter, if not more. With being halfway through the winter feed season, farmers must take stock if they have enough hay to keep a well-fed and healthy herd,” said Commissioner of Agriculture Kent Leonhardt. “If hay is in short supply, farmers will want to avoid turning cattle out too early as it could have affects on pasture feeding for next summer.”A potential hay shortage is most likely due to an unusually wet 2018. The increased rainfall lead to ruined and reduced hay crops. The WVDA is working with FSA county offices and WVU County Extension agents to help farmers locate hay supplies or work through alternative feeding methods.“Producers seeking hay or those selling hay are encouraged to contact their Farm Service Agency county office, located within their local USDA Service Center,” said FSA State Executive Director Roger Dahmer. “These lists are available to the public and can help connect sellers, buyers and those in need.”The WVDA, FSA and WVU Extension Services are offering the following tips: Google+ Previous PostFIRST ON WOAY: Greenbrier County Man Sentenced After Murdering A Woman Back In January 2018 Inventory the hay supply on hand and compare it to feed demand. Cattle prefer to eat about 2.5% of their body weight in hay dry matter. That is about 28 lbs. of air-dry hay per 1000 lbs. body weight.Locate available hay, straw or corn fodder for purchase. This could mean trucking in feed from other states. Hay is generally the least costly feed for beef cattle.Consider limiting the hay to the animal’s nutritional requirement. But be careful in doing so as cows need to be in a body condition score of 5 or 6 at calving, if they are to conceive the next calf on time.Keeping the body condition up on cows in cold weather helps reduce feed demand for maintaining body heat. Fat provides insulation from the cold and helps reduce shivering.Alternative sources of feed are soybean hull pellets, wheat midds, whole cotton seed or cotton seed hulls. These fibers are high in protein and should be available in West Virginia depending on your location in the state.Other good sources of protein include dry distiller’s grain, corn gluten feed or soybean. These feeds provide good energy without any starch that would limit the digestibility of hay.Corn is often the go-to feed when hay supply is limited. However, corn is high in starch. If adequate protein is not mixed with the corn, this ends up reducing the digestibility of fiber in hay. A 14 percent crude protein feed made from commodity by-products without any corn (limiting the starch) is another good option. Twitter Tumblr Linkedin Pinterest “Farmers need to wait to turn out their herds until around April 15 in low elevations and May 10 in higher evaluations. Proper planning and working with your fellow farmers are ways to keep the heard healthy until that time,” Leonhardt said.To locate your local county FSA office: http://offices.usda.govMore information can be found:https://extension.wvu.edu/files/d/4095370d-9c6c-4448-a092-862a676b2713/beef-cattle-nutrient-requirements.pdf Facebook NewsWatchState NewsTop Stories WVDA Offers Tips in Lieu of Hay Shortage By Tyler BarkerFeb 25, 2019, 15:25 pm 405 0 Home NewsWatch WVDA Offers Tips in Lieu of Hay Shortage Next PostWoman Arrested After Stabbing Another Man Over Drugslast_img read more

SP 500 As I noted in Air Pockets FreeFalls a

first_img S&P 500 As I noted in Air Pockets, Free-Falls, and Crashes, the lessons to be drawn from the recent market cycle are not that historically overvalued, overbought, overbullish extremes can be dismissed. Rather, the lessons to be drawn have to do with the criteria that distinguish when such extremes have little near-term impact from periods where they suddenly matter with a vengeance. Those criteria have a great deal to do with measures of market action that capture subtle shifts in risk aversion, such as widening credit spreads and deteriorating market internals. Sometimes those subtle shifts are all the warning you get, and while the 1987, 1998 and 2011 instances were expressed rather quickly in market losses that then subsided, it’s just as typical for downside consequences to be sustained over a couple of years. The market has been dodging boomerangs, not bullets, and they are likely to come back harder for it. Importantly, rich valuations here cannot be “justified” by appeals to current interest rates or profit margins unless that justification carries with it the assumption that both zero-interest-rate policy and cyclically elevated profit margins will be sustained for decades, coupled with the assumption that economic growth will proceed at historically normal rates. Even 3-4 more years of zero-interest-rate policy would only be “worth” a 12-16% increase in valuations over and above their historical norms. No, this is a market that is priced for utter perfection, reflecting the Potemkin Village that Fed-induced speculation has built on Wall Street, even as Main Street struggles in its shadow. Could this time be different? There are numerous factors that aren’t in place here, such as overt Fed tightening, but we also know that those factors have not historically been necessary for steep market retreats to occur (indeed, the 2000-2002 and 2007-2009 plunges occurred in an environment of persistent and aggressive Fed easing). Still, some features of the present environment can’t be observed historically. For example, none of the market crashes in history occurred in an environment of quantitative easing and zero short-term interest rates, because such an environment never existed prior to the present half-cycle. As a result, one has to make a judgment about how zero interest rates should be expected to impact an overvalued, overbought, overbullish market. From a valuation standpoint, we can quantify the justified impact on valuations from the expectation of T years where short-term interest rates are at L% rather than N% [one can show using standard discounting methods that to a strong approximation, the impact is just T*(N-L)]. What’s harder to quantify is the psychological impact of zero interest rates. That’s really what quantitative easing has exploited: the willingness of investors to speculate regardless of historically elevated valuations and extremely lopsided bullish sentiment, because of the discomfort that zero interest rates seem to offer “no other choice” but to take risk. On that front, I clearly underestimated the willingness of investors to dispense with the lessons of history in recent years, responding to zero short-term interest rates by piling into a massive speculative carry trade. Again, from our standpoint, the proper response has not been to join in discarding those lessons, but to identify the criteria that distinguish where overextended extremes have had little near-term impact from periods when those extremes matter with a vengeance. That’s why we’re focused on market internals here—the recent deterioration suggests a subtle shift toward increasing risk aversion, despite depressed short-term interest rates. Are we certain that these measures of market internals and related adaptations we’ve identified in recent years will identify a collapse from these overextended extremes? No—certainty about the future is not a luxury that any amount of market research can provide. What we’re quite certain of, however, is that the measures we are attending to would have effectively navigated risk taking and risk avoidance not only in historical market cycles in a century of history, not only during the tech bubble, not only during the housing bubble, and not only since the 2007 market peak, but also in the advancing period since the 2009 low. There will undoubtedly be points when our concerns about risk are strong but the market advances nonetheless, or where our willingness to accept risk is strong and but the market declines nonetheless. But we’ve adapted far more than is likely to be fully recognized until much later in the present market cycle or early in the next. We’ve got no interest in convincing anyone to adopt our views. Our responsibility is to those who trust us to identify and adhere to a value-conscious, historically informed discipline, and to address what needs to be addressed when the need arises. We are confident that we’ve done so (see Formula for Market Extremes for an overview of the key lessons and adaptations that have emerged from our own work in the half-cycle since 2009). Meanwhile, as we learned back in 2000 and 2007, the full course of the market cycle was far more convincing about the validity of our concerns than any argument that we could have advanced at the peak. Again, an improvement in market internals would not make stocks any less richly valued or overextended, but because such an improvement would signal a resumed tendency toward yield-seeking speculation, the immediacy of our concerns would dial down considerably. Given present conditions, however, the dials do not move higher, and these go to eleven. The current market environment joins the full range of ingredients that have characterized the most extreme market peaks—and preceded the deepest market plunges—in more than a century of history. On the basis of measures that are best correlated with actual subsequent market returns (and plenty of popular measures are not), we observe the richest market valuations in history with the exception of the 2000 peak. Even then, current levels on the best-performing measures are only about 15-20% below the 2000 extreme. Current valuations now exceed those observed in 1901, 1929, 1937, 1972, 1987, and 2007. The five-year market advance from the 2009 low, encouraged by yield-seeking speculation, now places the S&P 500 at more than double the level that we would associate with historically normal returns. Put another way, we presently estimate S&P 500 prospective nominal total returns of just 1.4% annually over the coming decade, with zero or negative average total returns out to roughly 2022. These valuations are coupled with extremely overbought conditions and the most lopsided bullish sentiment since 1987. Bearish sentiment is now down to 14.8% (Investor’s Intelligence), close to the low of 13.3% reached in September. Prior to this year, the last two times sentiment was nearly as lopsided were the April 2011 peak (just before a near-20% dive) and the October 2007 peak. Of particular note, extreme overvalued, overbought, overbullish conditions—which we’ve observed sporadically for quite some time now—have more recently been accompanied by widening credit spreads and deterioration in broad market internals. We have entered an environment in which extraordinarily thin risk premiums have been joined in recent weeks by a subtle shift toward increasing risk aversion. We don’t rule out the potential for market internals to improve in a way that could defer our concerns about immediate downside risk (though such a deferral would not imply that valuations were any less extreme), but the short-squeeze over the past month has not materially reversed the deterioration. As a result, present conditions couple every essential component of historically extreme and vulnerable market environments. As Nigel Tufnel of Spinal Tap described the volume knobs on his guitar amplifier—“You’re on ten here, all the way up, all the way up, all the way up, you’re on ten on your guitar. Where can you go from there? Where? Eleven. Exactly. One louder. These go to eleven.” The chart below presents a slightly different perspective than similar charts I’ve presented over time. Rather than showing discrete instances where a whole syndrome of overvalued, overbought, overbullish conditions has occurred (points with bullish sentiment at extremes, valuations historically rich, prices pushing upper Bollinger bands, etc.), the vertical bars show a count of individual components, coupled with additional components that reflect deteriorating market internals. This gives a less binary view of these syndromes. The spikes (such as 1929, 1972, 1998, 2000, 2007, 2011, and the past year) show points when a preponderance of conditions—extreme valuation, lopsided bullish sentiment, overbought conditions, widening credit spreads, and at least some aspects of deteriorating market internals—have been observed in unison. The red line shows the S&P 500 Index (log scale).last_img read more