Accounts – Wiley Toons http://wileytoons.com/ Wed, 29 Sep 2021 17:13:09 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://wileytoons.com/wp-content/uploads/2021/05/default1.png Accounts – Wiley Toons http://wileytoons.com/ 32 32 US STOCKS SNAPSHOT-S&P 500, Dow slip from record highs at open https://wileytoons.com/us-stocks-snapshot-sp-500-dow-slip-from-record-highs-at-open/ https://wileytoons.com/us-stocks-snapshot-sp-500-dow-slip-from-record-highs-at-open/#respond Mon, 17 May 2021 08:09:03 +0000 https://wileytoons.com/?p=644 Bloomberg The World Economy Is Suddenly Running Low on Everything (Bloomberg) — A year ago, as the pandemic ravaged country after country and economies shuddered, consumers were the ones panic-buying. Today, on the rebound, it’s companies furiously stocking up. Mattress producers to car manufacturers to aluminum foil makers are buying more material than they need […]]]>

Bloomberg

The World Economy Is Suddenly Running Low on Everything

(Bloomberg) — A year ago, as the pandemic ravaged country after country and economies shuddered, consumers were the ones panic-buying. Today, on the rebound, it’s companies furiously stocking up. Mattress producers to car manufacturers to aluminum foil makers are buying more material than they need to survive the breakneck speed at which demand for goods is recovering and assuage that primal fear of running out. The corporate buying and hoarding is pushing supply chains to the brink of seizing up. Shortages, transportation bottlenecks and price spikes are nearing the highest levels in recent memory, raising concern that a supercharged global economy will stoke inflation.Copper, iron ore and steel. Corn, coffee, wheat and soybeans. Lumber, semiconductors, plastic and cardboard for packaging. The world is seemingly low on all of it. “You name it, and we have a shortage on it,” Tom Linebarger, chairman and chief executive of engine and generator manufacturer Cummins Inc., said on a call this month. Clients are “trying to get everything they can because they see high demand,” Jennifer Rumsey, the Columbus, Indiana-based company’s president, said. “They think it’s going to extend into next year.”The difference between the big crunch of 2021 and past supply disruptions is the sheer magnitude of it, and the fact that there is — as far as anyone can tell — no clear end in sight. Big or small, few businesses are spared. Europe’s largest fleet of trucks, Girteka Logistics, says there’s been a struggle to find enough capacity. Monster Beverage Corp. of Corona, California, is dealing with an aluminum can scarcity. Hong Kong’s MOMAX Technology Ltd. is delaying production of a new product because of a dearth of semiconductors.Further exacerbating the situation is an unusually long and growing list of calamities that have rocked commodities in recent months. A freak accident in the Suez Canal backed up global shipping in March. Drought has wreaked havoc upon agricultural crops. A deep freeze and mass blackout wiped out energy and petrochemicals operations across the central U.S. in February. Less than two weeks ago, hackers brought down the largest fuel pipeline in the U.S., driving gasoline prices above $3 a gallon for the first time since 2014. Now India’s massive Covid-19 outbreak is threatening its biggest ports. For anyone who thinks it’s all going to end in a few months, consider the somewhat obscure U.S. economic indicator known as the Logistics Managers’ Index. The gauge is built on a monthly survey of corporate supply chiefs that asks where they see inventory, transportation and warehouse expenses — the three key components of managing supply chains — now and in 12 months. The current index is at its second-highest level in records dating back to 2016, and the future gauge shows little respite a year from now. The index has proven unnervingly accurate in the past, matching up with actual costs about 90% of the time.To Zac Rogers, who helps compile the index as an assistant professor at Colorado State University’s College of Business, it’s a paradigm shift. In the past, those three areas were optimized for low costs and reliability. Today, with e-commerce demand soaring, warehouses have moved from the cheap outskirts of urban areas to prime parking garages downtown or vacant department-store space where deliveries can be made quickly, albeit with pricier real estate, labor and utilities. Once viewed as liabilities before the pandemic, fatter inventories are in vogue. Transport costs, more volatile than the other two, won’t lighten up until demand does.“Essentially what people are telling us to expect is that it’s going to be hard to get supply up to a place where it matches demand,” Rogers said, “and because of that, we’re going to continue to see some price increases over the next 12 months.”More well-known barometers are starting to reflect the higher costs for households and companies. An index of U.S. consumer prices that excludes food and fuel jumped in April from a month earlier by the most since 1982. At the factory gate, the increase in prices charged by American producers was twice as large as economists expected. Unless companies pass that cost along to consumers and boost productivity, it’ll eat into their profit margins.A growing chorus of observers are warning that inflation is bound to quicken. The threat has been enough to send tremors through world capitals, central banks, factories and supermarkets. The U.S. Federal Reserve is facing new questions about when it will hike rates to stave off inflation — and the perceived political risk already threatens to upset President Joe Biden’s spending plans. “You bring all of these factors in, and it’s an environment that’s ripe for significant inflation, with limited levers” for monetary authorities to pull, said David Landau, chief product officer at BluJay Solutions, a U.K.-based logistics software and services provider.Policy makers, however, have laid out a number of reasons why they don’t expect inflationary pressures to get out of hand. Fed Governor Lael Brainard said recently that officials should be “patient through the transitory surge.” Among the reasons for calm: The big surges lately are partly blamed on skewed comparisons to the steep drops of a year ago, and many companies that have held the line on price hikes for years remain reticent about them now. What’s more, U.S. retail sales stalled in April after a sharp rise in the month earlier, and commodities prices have recently retreated from multi-year highs. Read More: Fed Officials Have Six Reasons to Bet Inflation Spike Will PassCaught in the crosscurrents is Dennis Wolkin, whose family has run a business making crib mattresses for three generations. Economic expansions are usually good for baby bed sales. But the extra demand means little without the key ingredient: foam padding. There has been a run on the kind of polyurethane foam Wolkin uses — in part because of the deep freeze across the U.S. South in February, and because of “companies over-ordering and trying to hoard what they can.”“It’s gotten out of control, especially in the past month,” said Wolkin, vice president of operations at Atlanta-based Colgate Mattress, a 35-employee company that sells products at Target stores and independent retailers. “We’ve never seen anything like this.”Though polyurethane foam is 50% more expensive than it was before the Covid-19 pandemic, Wolkin would buy twice the amount he needs and look for warehouse space rather than reject orders from new customers. “Every company like us is going to overbuy,” he said.Even multinational companies with digital supply-management systems and teams of people monitoring them are just trying to cope. Whirlpool Corp. CEO Marc Bitzer told Bloomberg Television this month its supply chain is “pretty much upside down” and the appliance maker is phasing in price increases. Usually Whirlpool and other large manufacturers produce goods based on incoming orders and forecasts for those sales. Now it’s producing based on what parts are available.“It is anything but efficient or normal, but that is how you have to run it right now,” Bitzer said. “I know there’s talk of a temporary blip, but we do see this elevated for a sustained period.”The strains stretch all the way back to global output of raw materials and may persist because the capacity to produce more of what’s scarce — with either additional capital or labor — is slow and expensive to ramp up. The price of lumber, copper, iron ore and steel have all surged in recent months as supplies constrict in the face of stronger demand from the U.S. and China, the world’s two largest economies.Crude oil is also on the rise, as are the prices of industrial materials from plastics to rubber and chemicals. Some of the increases are already making their ways to the store shelf. Reynolds Consumer Products Inc., the maker of the namesake aluminum foil and Hefty trash bags, is planning another round of price increases — its third in 2021 alone.Food costs are climbing, too. The world’s most consumed edible oil, processed from the fruit of oil palm trees, has jumped by more than 135% in the past year to a record. Soybeans topped $16 a bushel for the first time since 2012. Corn futures hit an eight-year high while wheat futures rose to the highest since 2013.A United Nations gauge of world food costs climbed for an 11th month in April, extending its gain to the highest in seven years. Prices are in their longest advance in more than a decade amid weather worries and a crop-buying spree in China that’s tightening supplies, threatening faster inflation.Earlier this month, the Bloomberg Commodity Spot Index touched the highest level since 2011. A big reason for the rally is a U.S. economy that’s recovering faster than most. The evidence of that is floating off the coast of California, where dozens of container ships are waiting to offload at ports from Oakland to Los Angeles. Most goods are flooding in from China, where government figures last week showed producer prices climbed by the most since 2017 in April, adding to evidence that cost pressures for that nation’s factories pose another risk if those are passed on to retailers and other customers abroad. Across the world’s manufacturing hub of East Asia, the blockages are especially acute. The dearth of semiconductors has already spread from the automotive sector to Asia’s highly complex supply chains for smartphones.Read More: World Is Short of Computer Chips. Here’s Why: QuickTakeJohn Cheng runs a consumer electronics manufacturer that makes everything from wireless magnetic smartphone chargers to smart home air purifiers. The supply choke has complicated his efforts to develop new products and enter new markets, according to Cheng, the CEO of Hong Kong-based MOMAX, which has about two-thirds of its 300 employees working in a Shenzhen factory. One example: Production of a new power bank for Apple products such as the iPhone, Airpods, iPad and Apple watch has been delayed because of the chip shortage.Instead of proving to be a short-lived disruption, the semiconductor crunch is threatening the broader electronics sector and may start to squeeze Asia’s high-performing export economies, according to Vincent Tsui of Gavekal Research. It’s “not simply the result of a few temporary glitches,” Tsui wrote in a note. “They are more structural in nature, and they affect a whole range of industries, not just automobile production.”In an indication of just how serious the chips crunch is, South Korea plans to spend roughly $450 billion to build the world’s biggest chipmaking base over the next decade.Meanwhile, running full tilt between factories and consumers are the ships, trucks and trains that move parts along a global production process and finished goods to market. Container vessels are running at capacity, pushing ocean cargo rates to record highs and clogging up ports. So much so that Columbia Sportswear Co.’s merchandise shipments were delayed for three weeks and the retailer expects its fall product lineup will arrive late as well. Executives at A.P. Moller-Maersk A/S, the world’s No. 1 container carrier, say they see only a gradual decline in seaborne freight rates for the rest of the year. And even then, they don’t expect a return to the ultra-cheap ocean cargo service of the past decade. More capacity is coming in the form of new ships on order, but they take two or three years to build.HSBC trade economist Shanella Rajanayagam estimates that the surge in container rates over the past year could raise producer prices in the euro zone by as much as 2 percent.Rail and trucking rates are elevated, too. The Cass Freight Index measure of expenditures reached a record in April — its fourth in five months. Spot prices for truckload service are on track to rise 70% in the second quarter from a year earlier, and are set to be up about 30% this year compared with 2020, Todd Fowler, a KeyBanc Capital Markets analyst, said in a May 10 note.“We expect pricing to remain elevated given lean inventories, seasonal demand and improving economic activity, all of which is underpinned by capacity constraints from truck production limitations and driver availability challenges,” Fowler said.What Bloomberg Intelligence Says:“Most modes of freight transportation have pricing power. Supply-demand imbalances should help keep rates high, albeit they should moderate for current unsustainable levels as supply chains improve. This is stressing networks, creating bottlenecks in the supply chains and capacity constraints.”–Lee Klaskow, senior analystFor London-based packaging company DS Smith Plc, challenges are coming from multiple sides. During the pandemic, customers rushed to online purchases, raising demand for its ePack boxes and other shipping materials by 700%. Then came the doubling of its supply costs to 200 euros ($243) a ton for the recycled fiber it uses to make its products.“That’s a significant cost” for a company that buys 4 to 5 million tons of used fiber annually, said Miles Roberts, DS Smith’s group chief executive, who doesn’t see the lockdown-inspired web purchasing as a temporary trend. “The e-commerce that has increased is here to stay.”At Colgate Mattress, Wolkin used to be able to order foam on Mondays and have it delivered on Thursdays. Now, his suppliers can’t promise anything. What’s clear is he can’t sustain the higher input costs forever and still maintain quality. “This is kind of a long-term issue,” Wolkin said. “Inflation is coming — at some point, you’ve got to pass this along.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

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Japan’s Renesas to shift production to Ehime from fire-hit chip plant: NHK https://wileytoons.com/japans-renesas-to-shift-production-to-ehime-from-fire-hit-chip-plant-nhk/ https://wileytoons.com/japans-renesas-to-shift-production-to-ehime-from-fire-hit-chip-plant-nhk/#respond Mon, 17 May 2021 08:04:51 +0000 https://wileytoons.com/?p=638 Bloomberg The World Economy Is Suddenly Running Low on Everything (Bloomberg) — A year ago, as the pandemic ravaged country after country and economies shuddered, consumers were the ones panic-buying. Today, on the rebound, it’s companies furiously stocking up. Mattress producers to car manufacturers to aluminum foil makers are buying more material than they need […]]]>

Bloomberg

The World Economy Is Suddenly Running Low on Everything

(Bloomberg) — A year ago, as the pandemic ravaged country after country and economies shuddered, consumers were the ones panic-buying. Today, on the rebound, it’s companies furiously stocking up. Mattress producers to car manufacturers to aluminum foil makers are buying more material than they need to survive the breakneck speed at which demand for goods is recovering and assuage that primal fear of running out. The corporate buying and hoarding is pushing supply chains to the brink of seizing up. Shortages, transportation bottlenecks and price spikes are nearing the highest levels in recent memory, raising concern that a supercharged global economy will stoke inflation.Copper, iron ore and steel. Corn, coffee, wheat and soybeans. Lumber, semiconductors, plastic and cardboard for packaging. The world is seemingly low on all of it. “You name it, and we have a shortage on it,” Tom Linebarger, chairman and chief executive of engine and generator manufacturer Cummins Inc., said on a call this month. Clients are “trying to get everything they can because they see high demand,” Jennifer Rumsey, the Columbus, Indiana-based company’s president, said. “They think it’s going to extend into next year.”The difference between the big crunch of 2021 and past supply disruptions is the sheer magnitude of it, and the fact that there is — as far as anyone can tell — no clear end in sight. Big or small, few businesses are spared. Europe’s largest fleet of trucks, Girteka Logistics, says there’s been a struggle to find enough capacity. Monster Beverage Corp. of Corona, California, is dealing with an aluminum can scarcity. Hong Kong’s MOMAX Technology Ltd. is delaying production of a new product because of a dearth of semiconductors.Further exacerbating the situation is an unusually long and growing list of calamities that have rocked commodities in recent months. A freak accident in the Suez Canal backed up global shipping in March. Drought has wreaked havoc upon agricultural crops. A deep freeze and mass blackout wiped out energy and petrochemicals operations across the central U.S. in February. Less than two weeks ago, hackers brought down the largest fuel pipeline in the U.S., driving gasoline prices above $3 a gallon for the first time since 2014. Now India’s massive Covid-19 outbreak is threatening its biggest ports. For anyone who thinks it’s all going to end in a few months, consider the somewhat obscure U.S. economic indicator known as the Logistics Managers’ Index. The gauge is built on a monthly survey of corporate supply chiefs that asks where they see inventory, transportation and warehouse expenses — the three key components of managing supply chains — now and in 12 months. The current index is at its second-highest level in records dating back to 2016, and the future gauge shows little respite a year from now. The index has proven unnervingly accurate in the past, matching up with actual costs about 90% of the time.To Zac Rogers, who helps compile the index as an assistant professor at Colorado State University’s College of Business, it’s a paradigm shift. In the past, those three areas were optimized for low costs and reliability. Today, with e-commerce demand soaring, warehouses have moved from the cheap outskirts of urban areas to prime parking garages downtown or vacant department-store space where deliveries can be made quickly, albeit with pricier real estate, labor and utilities. Once viewed as liabilities before the pandemic, fatter inventories are in vogue. Transport costs, more volatile than the other two, won’t lighten up until demand does.“Essentially what people are telling us to expect is that it’s going to be hard to get supply up to a place where it matches demand,” Rogers said, “and because of that, we’re going to continue to see some price increases over the next 12 months.”More well-known barometers are starting to reflect the higher costs for households and companies. An index of U.S. consumer prices that excludes food and fuel jumped in April from a month earlier by the most since 1982. At the factory gate, the increase in prices charged by American producers was twice as large as economists expected. Unless companies pass that cost along to consumers and boost productivity, it’ll eat into their profit margins.A growing chorus of observers are warning that inflation is bound to quicken. The threat has been enough to send tremors through world capitals, central banks, factories and supermarkets. The U.S. Federal Reserve is facing new questions about when it will hike rates to stave off inflation — and the perceived political risk already threatens to upset President Joe Biden’s spending plans. “You bring all of these factors in, and it’s an environment that’s ripe for significant inflation, with limited levers” for monetary authorities to pull, said David Landau, chief product officer at BluJay Solutions, a U.K.-based logistics software and services provider.Policy makers, however, have laid out a number of reasons why they don’t expect inflationary pressures to get out of hand. Fed Governor Lael Brainard said recently that officials should be “patient through the transitory surge.” Among the reasons for calm: The big surges lately are partly blamed on skewed comparisons to the steep drops of a year ago, and many companies that have held the line on price hikes for years remain reticent about them now. What’s more, U.S. retail sales stalled in April after a sharp rise in the month earlier, and commodities prices have recently retreated from multi-year highs. Read More: Fed Officials Have Six Reasons to Bet Inflation Spike Will PassCaught in the crosscurrents is Dennis Wolkin, whose family has run a business making crib mattresses for three generations. Economic expansions are usually good for baby bed sales. But the extra demand means little without the key ingredient: foam padding. There has been a run on the kind of polyurethane foam Wolkin uses — in part because of the deep freeze across the U.S. South in February, and because of “companies over-ordering and trying to hoard what they can.”“It’s gotten out of control, especially in the past month,” said Wolkin, vice president of operations at Atlanta-based Colgate Mattress, a 35-employee company that sells products at Target stores and independent retailers. “We’ve never seen anything like this.”Though polyurethane foam is 50% more expensive than it was before the Covid-19 pandemic, Wolkin would buy twice the amount he needs and look for warehouse space rather than reject orders from new customers. “Every company like us is going to overbuy,” he said.Even multinational companies with digital supply-management systems and teams of people monitoring them are just trying to cope. Whirlpool Corp. CEO Marc Bitzer told Bloomberg Television this month its supply chain is “pretty much upside down” and the appliance maker is phasing in price increases. Usually Whirlpool and other large manufacturers produce goods based on incoming orders and forecasts for those sales. Now it’s producing based on what parts are available.“It is anything but efficient or normal, but that is how you have to run it right now,” Bitzer said. “I know there’s talk of a temporary blip, but we do see this elevated for a sustained period.”The strains stretch all the way back to global output of raw materials and may persist because the capacity to produce more of what’s scarce — with either additional capital or labor — is slow and expensive to ramp up. The price of lumber, copper, iron ore and steel have all surged in recent months as supplies constrict in the face of stronger demand from the U.S. and China, the world’s two largest economies.Crude oil is also on the rise, as are the prices of industrial materials from plastics to rubber and chemicals. Some of the increases are already making their ways to the store shelf. Reynolds Consumer Products Inc., the maker of the namesake aluminum foil and Hefty trash bags, is planning another round of price increases — its third in 2021 alone.Food costs are climbing, too. The world’s most consumed edible oil, processed from the fruit of oil palm trees, has jumped by more than 135% in the past year to a record. Soybeans topped $16 a bushel for the first time since 2012. Corn futures hit an eight-year high while wheat futures rose to the highest since 2013.A United Nations gauge of world food costs climbed for an 11th month in April, extending its gain to the highest in seven years. Prices are in their longest advance in more than a decade amid weather worries and a crop-buying spree in China that’s tightening supplies, threatening faster inflation.Earlier this month, the Bloomberg Commodity Spot Index touched the highest level since 2011. A big reason for the rally is a U.S. economy that’s recovering faster than most. The evidence of that is floating off the coast of California, where dozens of container ships are waiting to offload at ports from Oakland to Los Angeles. Most goods are flooding in from China, where government figures last week showed producer prices climbed by the most since 2017 in April, adding to evidence that cost pressures for that nation’s factories pose another risk if those are passed on to retailers and other customers abroad. Across the world’s manufacturing hub of East Asia, the blockages are especially acute. The dearth of semiconductors has already spread from the automotive sector to Asia’s highly complex supply chains for smartphones.Read More: World Is Short of Computer Chips. Here’s Why: QuickTakeJohn Cheng runs a consumer electronics manufacturer that makes everything from wireless magnetic smartphone chargers to smart home air purifiers. The supply choke has complicated his efforts to develop new products and enter new markets, according to Cheng, the CEO of Hong Kong-based MOMAX, which has about two-thirds of its 300 employees working in a Shenzhen factory. One example: Production of a new power bank for Apple products such as the iPhone, Airpods, iPad and Apple watch has been delayed because of the chip shortage.Instead of proving to be a short-lived disruption, the semiconductor crunch is threatening the broader electronics sector and may start to squeeze Asia’s high-performing export economies, according to Vincent Tsui of Gavekal Research. It’s “not simply the result of a few temporary glitches,” Tsui wrote in a note. “They are more structural in nature, and they affect a whole range of industries, not just automobile production.”In an indication of just how serious the chips crunch is, South Korea plans to spend roughly $450 billion to build the world’s biggest chipmaking base over the next decade.Meanwhile, running full tilt between factories and consumers are the ships, trucks and trains that move parts along a global production process and finished goods to market. Container vessels are running at capacity, pushing ocean cargo rates to record highs and clogging up ports. So much so that Columbia Sportswear Co.’s merchandise shipments were delayed for three weeks and the retailer expects its fall product lineup will arrive late as well. Executives at A.P. Moller-Maersk A/S, the world’s No. 1 container carrier, say they see only a gradual decline in seaborne freight rates for the rest of the year. And even then, they don’t expect a return to the ultra-cheap ocean cargo service of the past decade. More capacity is coming in the form of new ships on order, but they take two or three years to build.HSBC trade economist Shanella Rajanayagam estimates that the surge in container rates over the past year could raise producer prices in the euro zone by as much as 2 percent.Rail and trucking rates are elevated, too. The Cass Freight Index measure of expenditures reached a record in April — its fourth in five months. Spot prices for truckload service are on track to rise 70% in the second quarter from a year earlier, and are set to be up about 30% this year compared with 2020, Todd Fowler, a KeyBanc Capital Markets analyst, said in a May 10 note.“We expect pricing to remain elevated given lean inventories, seasonal demand and improving economic activity, all of which is underpinned by capacity constraints from truck production limitations and driver availability challenges,” Fowler said.What Bloomberg Intelligence Says:“Most modes of freight transportation have pricing power. Supply-demand imbalances should help keep rates high, albeit they should moderate for current unsustainable levels as supply chains improve. This is stressing networks, creating bottlenecks in the supply chains and capacity constraints.”–Lee Klaskow, senior analystFor London-based packaging company DS Smith Plc, challenges are coming from multiple sides. During the pandemic, customers rushed to online purchases, raising demand for its ePack boxes and other shipping materials by 700%. Then came the doubling of its supply costs to 200 euros ($243) a ton for the recycled fiber it uses to make its products.“That’s a significant cost” for a company that buys 4 to 5 million tons of used fiber annually, said Miles Roberts, DS Smith’s group chief executive, who doesn’t see the lockdown-inspired web purchasing as a temporary trend. “The e-commerce that has increased is here to stay.”At Colgate Mattress, Wolkin used to be able to order foam on Mondays and have it delivered on Thursdays. Now, his suppliers can’t promise anything. What’s clear is he can’t sustain the higher input costs forever and still maintain quality. “This is kind of a long-term issue,” Wolkin said. “Inflation is coming — at some point, you’ve got to pass this along.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

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Student Loan Cancellation Called Both A Stimulus And Massive Wealth Transfer https://wileytoons.com/getting-cash-to-buy-a-car-or-home-can-be-helpful/ https://wileytoons.com/getting-cash-to-buy-a-car-or-home-can-be-helpful/#respond Mon, 17 May 2021 01:41:42 +0000 https://wileytoons.com/?p=606 Does wide-scale student loan forgiveness stimulate the economy or represent one massive wealth transfer, or both? Here’s what you need to know. Student loan cancellation stimulates the economy Sen. Elizabeth Warren (D-MA), a leading advocate for student loan cancellation, says that student loan forgiveness will stimulate the economy. If her legislative plan passes in Congress, 36 million […]]]>

Does wide-scale student loan forgiveness stimulate the economy or represent one massive wealth transfer, or both?

Here’s what you need to know.

Student loan cancellation stimulates the economy

Sen. Elizabeth Warren (D-MA), a leading advocate for student loan cancellation, says that student loan forgiveness will stimulate the economy. If her legislative plan passes in Congress, 36 million student loan borrowers would get their federal student loans cancelled completely. Democrats in Congress have also proposed to forgive student loans with 4 changes. Supporters, like Warren, say that student loan cancellation will lead to new business formation, increase consumer spending, increase geographic mobility, increase the marriage rate, help people buy more homes, and save for retirement, among other benefits. In this regard, proponents who support one-time student loan forgiveness say your economic life, whether or not you have student loans, will get better. Also, some of these programs may be helpful with which you can get cash to buy a home or car, just visit their website here.

Student loans: a massive wealth transfer

However, student loan cancellation means different things to different people. A recent Wall Street Journal op-ed called student loan cancellation a massive wealth transfer that charged taxpayers for the debt of student loan borrowers. The U.S. Department of Education noted that student loan borrowers collectively have saved $5 billion a month since student loan payments have been paused through temporary student loan forbearance. Paused student loan payments will continue through September 30, 2021, which could cost taxpayers another $25 billion. As of September 30, 2021, student loan borrowers will get approximately $90 billion of student loan cancellation since the beginning of the Covid-19 pandemic.

While student loan borrowers welcome those monthly savings, federal taxpayers may be less celebratory. Federal taxpayers like you are covering the cost of that $5 billion every month, and you could pay for student loan cancellation too. This would be true regardless of which of the two main paths to student loan cancellation occur. For example, $10,000 of student loan cancellation could cost taxpayers approximately $400 billion. If there is $50,000 of student loan cancellation, the amount could be as high as $1 trillion. Ultimately, federal taxpayers would pay for student loan cancellation.MORE FOR YOUA Second Look: Four Retirement Rules Of ThumbDemocrats Propose To Forgive Student Loans With 4 ChangesCollege Cancels Student Loan Debt Using Money From Biden’s Stimulus Bill


Does student loan cancellation stimulate the economy?

Economists can debate the impact of student loan cancellation on the economy. Warren and Senate Majority Leader Chuck Schumer (D-NY) say student loan cancellation will provide a major boost to the economy. Importantly, however, $50,000 of student loan cancellation does not provide $50,000 of potential incremental consumer spending. Student loan forgiveness helps a borrower save a principal and interest payment each month, not the entire outstanding student loan balance. So, a borrower could have $50,000 of student loans, but only would save a $300 monthly payment from student loan cancellation, for example. Then, there’s no guarantee how much, if any, would be spent in the economy. For example, a borrower may use the funds to save for retirement or pay other debt. While this certainly can help borrowers financially, there’s not a guaranteed link to economic stimulus.


Student loan cancellation could mean this

Moody’s found that the economic impact of student loan cancellation would be relatively minimal and would be similar to the stimulus effect of a tax cut. That said, Moody’s believes that wide-scale student loan cancellation would increase household formation, small business formation, home ownership (long-term). Moody’s also found there would be a modest increase in household consumptions and investment. However, Moody’s also found that higher income earners could benefit from student loan cancellation, even if they could afford to make student loan payments. For example, current legislation in Congress would provide student loan forgiveness to borrowers who earn up to $125,000 in income. This is $50,000 higher than the income cutoff for the stimulus check, which had a $75,000 income cap. Finally, Moody’s found that student loan cancellation could lead to moral hazard. Schumer has said that Congress could cancel student loans more than once. If this happens, future student borrowers could have an incentive to borrow more student loan debt if they think their student loan debt will be forgiven.


Student loan cancellation: next steps

Will your student loans get cancelled? If you follow the latest updates on student loan cancellation, then you would know that Biden or Congress didn’t include student loan cancellation in the latest stimulus package. One can speculate on why it was excluded, but it’s possible the reason is related to whether wide-scale student loan cancellation has any material impact on the economy. There are already 5 signs that Biden won’t enact student loan cancellation. The president and members of Congress will weigh several legal, policy and political benefits and risks in determining their support or opposition to student loan cancellation. Central to that determination is an overall assessment of student loan cancellation and its impact on the economy and cost to taxpayers. There are certainly other considerations, but as America continues to fight the Covid-19 pandemic, the economic impact will be top of mind.

If you have student loans, make sure you understand your options for student loan repayment and how to get out of debt. Here are some potential options to consider, all of which have no fees:

  • Student loan refinancing 
  • Income-driven repayment plans 
  • Public service loan forgiveness 
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How to be an investor’s hero in uncertain times https://wileytoons.com/how-to-be-an-investors-hero-in-uncertain-times/ https://wileytoons.com/how-to-be-an-investors-hero-in-uncertain-times/#respond Thu, 08 Apr 2021 02:38:32 +0000 https://wileytoons.com/how-to-be-an-investors-hero-in-uncertain-times/ “One solution to remember is basically a buy, repair and refinance loan scenario,” said Mark Zummo-Hurley (pictured), wholesale manager at LendingOne. “Often times, an investor acquires a property that needs cosmetic or mid-level repairs to increase both the market rent and the value of the property. The intention is to keep the property for rent, […]]]>

“One solution to remember is basically a buy, repair and refinance loan scenario,” said Mark Zummo-Hurley (pictured), wholesale manager at LendingOne. “Often times, an investor acquires a property that needs cosmetic or mid-level repairs to increase both the market rent and the value of the property. The intention is to keep the property for rent, to add it to its real estate portfolio. An investor is likely to go this route to create a profit margin in a property that may not be readily available in its current state. This added value allows them to build equity and is an ideal opportunity for cash refinancing once the property is completed with a signed lease.

Zummo-Hurley explained that the fix to hold model requires two loans. The first finances the renovations of the property and the second allows for permanent financing. The strategy allows investors to turn SFR goods into assets that would not necessarily offer a sufficient profit margin at the start. It’s a strategy that Zummo-Hurley says can attract more investors to the direction of a savvy broker.

Nonetheless, he noted that there are pitfalls in pursuing this strategy. Investors could overpay for a property that does not have positive cash flow, or they could over-improve the property as the rental market around them does not keep pace with the costs that must now be taken into account. counts in the rent. They can also often assume that financing will be in place for the permanent underwriting of the loan. Brokers, in partnership with LendingOne, can serve as advisers to investor clients, keeping them away from these mistakes.

LendingOne offers direct support for this advice, analyzing each transaction to ensure that the monthly rents are profitable for the investor and that they receive at least a debt service ratio of 1.15, or more, in positive cash flow per month after PITI collection. Their fixed-lease loan program comes with a transparent refinance loan product that can allow investors to move quickly to this model.

Zummo-Hurley believes that brokers and initiators looking to expand their reach into investor communities can use a fixation strategy to own and, with LendingOne on their side, start ramping up their volume in the investor market quickly.

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Fitch: Malaysian Banks’ Profit Outlook Limited by Loan Write-downs | Money https://wileytoons.com/fitch-malaysian-banks-profit-outlook-limited-by-loan-write-downs-money/ https://wileytoons.com/fitch-malaysian-banks-profit-outlook-limited-by-loan-write-downs-money/#respond Thu, 08 Apr 2021 02:38:21 +0000 https://wileytoons.com/fitch-malaysian-banks-profit-outlook-limited-by-loan-write-downs-money/ Fitch Ratings Singapore director Willie Tanoto said the continued withdrawal of debt relief would push non-performing loan levels to 2.6% by the end of 2021. – Bernama peak KUALA LUMPUR, March 29 – Malaysian banks will not see normal profit levels in 2021 despite lower credit costs than other Asia-Pacific countries, Fitch Ratings said. Fitch […]]]>

Fitch Ratings Singapore director Willie Tanoto said the continued withdrawal of debt relief would push non-performing loan levels to 2.6% by the end of 2021. – Bernama peak

KUALA LUMPUR, March 29 – Malaysian banks will not see normal profit levels in 2021 despite lower credit costs than other Asia-Pacific countries, Fitch Ratings said.

Fitch Ratings Singapore director Willie Tanoto said the continued withdrawal of debt relief would see non-performing loan (NPL) levels reach 2.6 percent by the end of 2021.

“The improvement in bank profitability should be limited in 2021 as loan impairment charges remain high. We believe that banks’ credit costs in 2021 will approach the 2020 level, as loan loss coverage ratios remain low compared to our projections of the NPL ratio, notwithstanding general provisions set aside in 2020, ”he said. Fitch Ratings said in a report released today.

“Visibility into the quality of banks’ assets continues to be clouded by repayment assistance programs and budget cuts; we estimate that total deferred loans would represent 11% of the portfolios of the big six banks in February 2021. However, clarity should gradually improve as most of these programs are implemented in the coming months “, did he declare.

Tanoto said Malaysian banks need to do more to address loan write-downs.

“However, their loss absorption cushions remain adequate as banks’ capitalization is supported by continued core profitability and moderate balance sheet growth in the near term,” he said.

In the report, it states that the system’s non-performing loan (NPL) ratio gradually increased after the end of the six-month automatic loan repayment moratorium, with 85% of the increase coming from the household sector.

This is expected to increase over the next few months, as Malaysia was still under various levels of lockdown in the first quarter of 2021.

As the unemployment rate and Covid-19 cases have increased since September 2020, Fitch Ratings said economic uncertainty is now higher.

“This has marred visibility into the quality of banks’ assets, prompting most of the big six banks to increase lending provisions in the second half of 2020 compared to the first half. This coverage improved loan loss coverage to 105% of non-performing loans (NPLs) – 80% at the end of 2019 – most of which took the form of general allowances.

“Nonetheless, banks’ collective borrowing costs in 2020 remained the lowest among emerging Asia-Pacific markets. Banks ‘NPL ratios have been removed by the moratorium and we expect the system’s NPL ratio to rise to 2.6% by the end of 2021. This means that large banks’ credit provisions will remain high in 2021 and similar at the 2020 level, ”the report said.

The report says it does not expect a significant improvement in profitability in 2021, despite the economic recovery, as revenue growth is expected to be held back by sluggish loan growth and only a slight increase in the line of credit. .

The increase in non-performing loans after aid programs expire will increase credit write-down charges above the pre-pandemic average, hampering improved profitability in 2021.

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Married in community of property: what happens when your spouse dies? https://wileytoons.com/married-in-community-of-property-what-happens-when-your-spouse-dies/ https://wileytoons.com/married-in-community-of-property-what-happens-when-your-spouse-dies/#respond Thu, 08 Apr 2021 02:38:11 +0000 https://wileytoons.com/married-in-community-of-property-what-happens-when-your-spouse-dies/ If you and your spouse are married in community of property, this means that you share a common and undivided patrimony made up of your respective assets and liabilities, including those accumulated before the date of your marriage. As a default matrimonial regime, there is usually no prenuptial contract that supports a community property marriage […]]]>

If you and your spouse are married in community of property, this means that you share a common and undivided patrimony made up of your respective assets and liabilities, including those accumulated before the date of your marriage. As a default matrimonial regime, there is usually no prenuptial contract that supports a community property marriage and the legal consequences of your marriage are set out in the Matrimonial Property Act 1984.

The matrimonial regime in community of property has many shortcomings, particularly with regard to debt. Both spouses in such a marriage remain jointly and severally liable for the other’s debt, including any debt incurred by either before the marriage. If your spouse dies heavily in debt, even though you had no knowledge of the debt, it could have devastating consequences when it comes to liquidating the joint estate. Here is what is going on.

Liquidation of the co-ownership

Upon the death of the first deceased spouse, the entire estate is liquidated. Indeed, there can be no “co-ownership” if there is only one owner. The executor of the joint estate will first have to settle all debts that exist in that estate, regardless of who incurred the debt or when the debt was incurred. Remember that the spouses in a marriage in community of property are jointly and severally liable for all debts, regardless of the name under which the debt is registered, including all contractual debts, loans, mortgage obligations. and credit cards.

Once the executor has paid all the creditors of the estate, you will then be entitled to 50% of what will remain in the deceased estate, while the balance will go to your spouse’s successors in the event of a testamentary succession, or to his heirs in the event of inheritance under the terms of the law on intestate inheritance. When the first-deceased spouse was heavily in debt, the surviving spouse may find themselves financially vulnerable – perhaps even financially devastated – due to the actions of their partner during their lifetime.

For example, consider a situation where a retired couple married in community owns their main residence which is valued at R 2 million. The couple have a R3 million investment they are drawing on to cover their living expenses. Before his death, the husband had engaged in a business venture which had failed and owed his creditors 2 million rand, unbeknownst to his wife. In his will, the husband bequeaths his 50% of the house to his adult daughter. When liquidating the joint estate, creditors will first receive the R 2 million owed to them, assuming the executor will use the R 2 million of the couple’s investment for these purposes. Please note that for the purposes of this example, we have not included the tax. The estate now consists of a property valued at R 2 million with the remaining invested capital of R 1 million. In terms of the deceased’s will, his daughter is entitled to 50% of the house, or R 1 million in value. This leaves the surviving spouse only a capital of 1 million rand to support her financially. She may therefore be forced to realize the value of the house to ensure that she has funds available to cover her living expenses, but only owns 50% of the property. As a result of the acts of the deceased, the surviving spouse could end up with insufficient capital to live on, even if she had not participated in the accumulation of the debt.

From an estate planning perspective, it is always advisable for married couples in community of property to have an overview of each other’s wills and to ensure that there is sufficient liquidity in the estate in the event of a loss. death of one of them.

Executor fees

By law, the executor is required to administer the entire estate upon the death of the first deceased spouse and not just half of the deceased’s share. As such, the fees of the executor and of the Master are calculated on the gross value of the joint ownership, all other current administration costs being borne by the joint ownership, with the exception of funeral costs or administration costs relating to property excluded from joint ownership (if applicable) which are paid from the 50% share of the deceased in the estate. When the first-deceased spouse bequeaths his share of the joint estate to the surviving spouse, this could lead to the double payment of the fees of the executor and the master on the same property. However, it is possible to negotiate the fees of your executor as soon as your will is drafted.

Inheritance

With regard to inheritance tax, only half of the deceased’s net inheritance is taken into account when determining the taxable inheritance, taking into account the reduction of R3,500,000.

CGT and transfer rights

With regard to the taxation of capital gains, death is assimilated to a transfer within the meaning of the CGT. If the first-deceased spouse bequeaths his share of the joint possession to the surviving spouse, the surviving spouse is deemed to have acquired the property at the same time, at the same price, in the same currency and for the same use as the deceased. However, on the death of the second dying spouse, the CGT must be paid. When the first-deceased spouse bequeaths real estate by will or when an heir inherits real estate as part of an intestate succession, no transfer tax is payable.

Bank accounts

Once the banks receive your spouse’s death notice, their accounts may be frozen. If you and your spouse share a common bank account, it may prevent you from withdrawing money from your bank accounts, keeping in mind that no debit order can flow to a frozen bank account. While the executor may ask the Master to release funds for the maintenance of the surviving spouse, this process can be time consuming and leave the surviving spouse strapped for cash.

Maintenance requests

One of the legal consequences of marriage is that it gives rise to an obligation of support between the spouses.

As such, when the original spouse does not make adequate financial provision for the surviving spouse in terms of a will, the surviving spouse can sue their estate under the Surviving Spouse Maintenance Act for the provision. reasonable child support. Needs. His request will benefit from the same preference as a request for maintenance of a dependent child.

As mentioned above, community of property is a deeply flawed matrimonial system that can result in financial harm to one spouse through the actions of the other spouse. That said, it is important for married couples in community of property to remember that only their 50% share of the net common wealth belongs to them. In addition, a spouse cannot use their will to remove property from the estate in the event of death.

Regardless of a couple’s matrimonial regime, all couples should undertake a transparent and comprehensive estate planning exercise to ensure that no difficulties arise upon death.

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Gas-filled ship exploded in Bay City 30 years ago: “You could be a quarter mile away and feel the heat” https://wileytoons.com/gas-filled-ship-exploded-in-bay-city-30-years-ago-you-could-be-a-quarter-mile-away-and-feel-the-heat/ https://wileytoons.com/gas-filled-ship-exploded-in-bay-city-30-years-ago-you-could-be-a-quarter-mile-away-and-feel-the-heat/#respond Thu, 08 Apr 2021 02:37:56 +0000 https://wileytoons.com/gas-filled-ship-exploded-in-bay-city-30-years-ago-you-could-be-a-quarter-mile-away-and-feel-the-heat/ BAY CITY, MI – Three decades ago, “Hell visited the Saginaw River.” This is how a Bay City Times article characterized the explosion and hell of the cargo ship MV Jupiter in the last days of the summer of 1990. A firefighter later called it a “one-of-a-kind” fire. life “. The tanker was moored on […]]]>

BAY CITY, MI – Three decades ago, “Hell visited the Saginaw River.”

This is how a Bay City Times article characterized the explosion and hell of the cargo ship MV Jupiter in the last days of the summer of 1990. A firefighter later called it a “one-of-a-kind” fire. life “.

The tanker was moored on the Saginaw River, not far from where the USS Edson is docked today, when it exploded. The smoke was visible for miles.

Don Morin, vice-president of the Saginaw River Marine Historical Society, was on his way home from work at Saginaw Steering Gear when he saw the fire.

“You could be in Standish and see the smoke,” he said. “You could be a quarter of a mile away and feel the heat. “

Morin knew people who lived nearby at the time.

“They said that when the initial blast of the blast (happened) it shook their homes,” he recalled.

This happened on September 16, 1990. The tanker was unloading 2.3 million gallons of unleaded gasoline at Total Petroleum when a cargo ship passed and came loose from its lines. What followed was nothing short of a disaster.

“The flames were 20 to 30 feet in the air and the horrible smoke … it was incredible,” Charles Prescott, the ship’s chief engineer, told a Times reporter after the explosion. He later described the sound of the explosion as a “sonic boom”.

Morin said the ship’s artifacts were in the permanent collection of the Antique Toy & Firehouse Museum, 3456 Patterson Road. Items in the exhibit include a damaged American flag that fluttered over the ship, a cracked window in the pilot’s house, life jackets, lifebuoys, steel chimney, fire alarm bell , a piece of steel with the name of the ship, and more.

“When the ship was scrapped there were all these parts that we were able to get,” Morin said. “There are quite a few artifacts.”

Don Comtois, president of the Saginaw River Marine Historical Society, was not in town when the initial explosion occurred. He remembers seeing darkness rise in the sky as he walked home.

“We were still north of West Branch and we could see the plumes of smoke this far,” he said.

Comtois said the exhibit at the Antique Toy & Firehouse Museum serves to preserve this part of Bay City’s history.

“That’s the only way to keep history alive, is with these objects, and to educate people, you know, the younger generation, about history,” he said.

Although the explosion of Jupiter took place 30 years ago, it is still part of the collective memory of Bay City.

“These types of disasters, unfortunately, are some of the memorable things that happen in a community,” Morin said. “It’s not the thing you want to happen.”

Here are five other things you may not know about the explosion of Jupiter 30 years ago today:

1. The explosion injured a dozen people and killed one

There was a crew of 17 on board the ship when the initial explosion occurred. The crew members were evacuated, some jumped into the river, and a US Coast Guard rescue team arrived 10 minutes later. More than a dozen crew members were injured, suffering from mild cases of hypothermia, burns and minor abrasions, and one person, Thomas Sexton, a crew member from Iowa, was drowned trying to swim to safety.

2. A radiologist witnessed the explosion aboard his sailboat and intervened to help

Dr George Ascherl Jr., a radiologist in the area, was taking his sailboat, the Wild Irish, to Marina Pier 7 for the winter when the Jupiter blew up. He saw the disaster about 100 to 300 feet away.

“It was one of the scariest scenes I have ever witnessed,” Ascherl told The Times in 2015. “The intensity of it all was something I only imagined seeing in a war zone. . “

Ascherl moved his sailboat towards the stern of the burning Jupiter in an effort to help the men jumping into the river.

3. Several other explosions followed the initial explosion.

Jupiter burned day and night, according to media reports. Because there was gasoline on board, officials initially thought the best solution was to let it burn. But there were several more explosions, and the heat from the blaze set the Jupiter’s hull ablaze, so they called for reinforcements.

4. Officials called for more help from Texas

Officials at Total Petroleum called Texas-based Boots & Coots to help fight the blaze. The crews arrived early Monday morning and started fighting that afternoon. They fired thousands of gallons of special foam into the flames, which had been burning for 29 hours. It took Boots & Coots and the US Coast Guard less than an hour to put out the blaze, but it reignited that evening. The saga ended on Tuesday morning.

5. The total cost of the fire was $ 6.1 million

An investigation into the explosion closed the shipping channel for more than three weeks. Federal investigators ultimately found Total Petroleum Co. responsible for the blaze due to faulty mooring lines. The total cost of the fire, including the value of the Jupiter and overtime for local agencies, was more than $ 6.1 million.

If you’re interested in learning more about the explosion of Jupiter, full coverage of the explosion and the subsequent Bay City Times investigation can be found in the library of the Bay County Historical Museum, 321 Washington Ave. Click here to learn more about the Saginaw River Marine Historical Society and click here to learn more about the Antique Toy & Firehouse Museum.

Learn more about MLive:

The Jupiter Explosion: 25 Years After “Hell Visited the Saginaw River” in Bay City

Where were you when the Jupiter exploded over the Saginaw River in Bay City?

Explore 150 years of Bay City history in photos and read its history

Times photographer transforms Bay City’s rich history with the present

Can you help identify these historic photos of Bay County?

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Carrington Mortgage Services Updates Non-QM Products – NMP https://wileytoons.com/carrington-mortgage-services-updates-non-qm-products-nmp/ https://wileytoons.com/carrington-mortgage-services-updates-non-qm-products-nmp/#respond Thu, 08 Apr 2021 02:37:37 +0000 https://wileytoons.com/carrington-mortgage-services-updates-non-qm-products-nmp/ These changes include “improved non-QM rates and improved guidelines.” “We have been exploring ways to increase our non-QM presence for some time,” said Jeff Gillis, executive vice president of wholesale loans for CMS. “We are now a price leader in the non-QM space; and this is especially true for our Carrington Investor Advantage product. “ […]]]>

These changes include “improved non-QM rates and improved guidelines.”

“We have been exploring ways to increase our non-QM presence for some time,” said Jeff Gillis, executive vice president of wholesale loans for CMS. “We are now a price leader in the non-QM space; and this is especially true for our Carrington Investor Advantage product. “

During a recent analysis of its non-QM pricing and related guidelines, CMS identified a number of ways to improve its non-QM product offerings: Carrington Flexible AdvantageSM, Carrington Flexible Advantage PlusSM, Carrington Prime AdvantageSM, and Carrington Investor. AdvantageSM, according to a press release. Release.

“The retail opportunity is to get to market quickly, become experts in our products, and significantly develop the platform through 2021 and beyond,” said Fred Quick, vice-president. executive chairman, retail loan, for CMS. “I see non-QM as a major contributor to the future of our retail platform. “

CMS’s product offerings include conventional Fannie Mae and Freddie Mac products, FHA, VA and USDA products, and Carrington’s exclusive Prime AdvantageSM, Flexible AdvantageSM and Investor AdvantageSM products. According to the company, these products were specifically developed to demonstrate the company’s continued dedication to borrowers with FICO scores of up to 550.

Carrington Prime Advantage and Flexible Advantage loans were created for borrowers with recent credit events, as well as for non-traditional sources of income such as self-employment or contract work, often verifiable by documents such as bank statements. , who wish to buy a home or refinance higher loan balances, the statement said. Carrington’s Investor Advantage program highlights do not include any personal income requirements, with qualification based on the property’s cash flow.

According to Kevin DeLory, senior vice president, Wholesale and Correspondent, for CMS, the recent price and guideline adjustments are a bold move designed to make Carrington a non-QM market leader.

“The commitment is there for us to be the premier lender in the non-QM space,” DeLory said.

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MetroGroup Secures $ 34.3 Million in Partnership Loans; Money360 hits $ 200 million milestone – Orange County Register https://wileytoons.com/metrogroup-secures-34-3-million-in-partnership-loans-money360-hits-200-million-milestone-orange-county-register/ https://wileytoons.com/metrogroup-secures-34-3-million-in-partnership-loans-money360-hits-200-million-milestone-orange-county-register/#respond Thu, 08 Apr 2021 02:37:14 +0000 https://wileytoons.com/metrogroup-secures-34-3-million-in-partnership-loans-money360-hits-200-million-milestone-orange-county-register/ MetroGroup real estate financing, a Newport Beach-based private commercial mortgage banking company, secured $ 34.3 million in acquisition financing on behalf of its client, Klein Investment Family Limited Partnership, to acquire a four-building 132,695 square foot office / flex campus in the Kearney Mesa submarket of San Diego to complete an IRS 1031 tax-deferred reverse […]]]>

MetroGroup real estate financing, a Newport Beach-based private commercial mortgage banking company, secured $ 34.3 million in acquisition financing on behalf of its client, Klein Investment Family Limited Partnership, to acquire a four-building 132,695 square foot office / flex campus in the Kearney Mesa submarket of San Diego to complete an IRS 1031 tax-deferred reverse exchange. The office campus is 100 percent leased to Cobham’s advanced electronics solutions, a subsidiary of the global group based in the United Kingdom Cobham SA, a leading technology company for the aerospace and defense industries. MetroGroup real estate financing provided a bridge loan in the amount of $ 7 million and a permanent loan in the amount of $ 27.3 million. Klein Investment Family Limited Partnership plans to incorporate a series of major tenant and property improvements including roof and HVAC unit replacement, power supply upgrades, fire systems , as well as the closing and filling of car parks.

The Kutzer Company. and OPC Acquisition 2 sold the leasehold interest in the 110,322 square foot Lake Forest Marketplace shopping center in Lake Forest. The unidentified buyer acquired the leasehold interest for $ 9 million. Dixie Walker and Charley Simpson with Cushman & WakefieldThe Retail Services group in Irvine represented the buyer and seller in the transaction. The mall is located on two plots totaling 8.82 acres. Located at 23771 El Toro Road, the center was 100 percent occupied by 22 tenants. Retailers include 99 Cents Only, Guitar Center, Harbor Freight Tools, Bank of America, UPS Store, Metro PCS and recently signed Del Taco and Dunkin ‘Donuts.

Morgan Skenderian Investment Real Estate Group negotiated the sale of a six-unit apartment complex in Anaheim to the Martin Family Trust for $ 1.86 million. The property, located at 1118 and 1120 W. Pearl St., was owned by Kevin Relock. Doug Rodermund and Rick Applebaum of Morgan Skenderian’s Newport Beach office represented the buyer and seller.

Milestones

Silver360, a Ladera Ranch-based commercial real estate lending platform, has doubled its portfolio, surpassing the $ 200 million mark in closed commercial real estate loans this month, the company said this week. It took over a year and a half for Money360 to hit the $ 100 million mark, but less than six months to hit $ 200 million, and by the end of the year it expects to exceed $ 500 million in transactions.

The company said the $ 200 million milestone follows four recent loan closings totaling nearly $ 38 million. All of these loans represent a loan-to-value ratio not exceeding 75% and include:

• A $ 16.2 million bridge loan for a 71,132 square foot single-tenant office building in Rosemont, Illinois.

• A $ 12.3 million bridge loan for a single-tenant suburban office building in Auburn Hills, Michigan.

• A $ 7.5 million bridge loan for two industrial buildings in Irvine.

• A $ 1.9 million permanent loan for an unanchored, 100% leased commercial building in Smyrna, Georgia.

Sees real estate services in Irvine won a COR $ TAR award of CORFAC International – a network of companies that carry out more than 10 billion dollars in real estate transactions annually. The awards recognize members and companies for their references within CORFAC’s global network of commercial real estate companies. The company took home the award for the largest office, which takes into account dollar value and square footage, in this case, $ 19 million and 107,638 square feet, respectively. The referring broker was Steve Lane.

Real estate records are compiled by editor Karen Levin and edited by Samantha Gowen, business writer at The Register. Send related items to sgowen@scng.com. Allow a week for the publication. High resolution photos can also be submitted.

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Kurt Angle and 5 big stars who could debut https://wileytoons.com/kurt-angle-and-5-big-stars-who-could-debut/ https://wileytoons.com/kurt-angle-and-5-big-stars-who-could-debut/#respond Thu, 08 Apr 2021 02:36:43 +0000 https://wileytoons.com/kurt-angle-and-5-big-stars-who-could-debut/ Kurt Angle could be the major star making his AEW debut at AEW Revolution 2021. Credit: WWE.com Ever since Paul Wight teased a major AEW signing of Hall of Fame-worthy talent, the wrestling world has been on fire with speculation as to who this individual might be. Everyone from CM Punk to Kurt Angle has […]]]>

Ever since Paul Wight teased a major AEW signing of Hall of Fame-worthy talent, the wrestling world has been on fire with speculation as to who this individual might be. Everyone from CM Punk to Kurt Angle has been named in an animated social media guessing game, and even AEW president Tony Khan has dropped a hint or two.

Khan recently mentioned that AEW signed more wrestlers (plural) during our interview last week.

“I think the balance of power has changed, for the fans and AEW,” Khan said.

“We keep recruiting more and more great wrestlers, and next week you’ll see more wrestlers making their debut in AEW.”

AEW continues to hone the art of defection, with several former WWE Superstars currently under contract. In fact, eight former WWE Superstars will be featured on tonight’s card, and that doesn’t include whoever ends up being the mystery signature and / or who emerges as the surprise participant in the Face of the Revolution Ladder Match, which could very well be additional defections from Titan Towers.

As top wrestlers continue to have fun with Twitter, fueling further speculation, a small handful of names can be considered the top contenders to be revealed as AEW’s latest signing.

Kurt Angle

One of the top contenders, self-aware Kurt Angle, took to Twitter last night to post a cryptic teaser video, as if to suggest he is making his return to the ring.

The video ended with the caption “To be continued”. In a really carny way, Angle continued today with an extended video that ended up being a commercial for his podcast. The Kurt Angle Show. Despite the poor leadership, Angle, a WWE Hall of Fame member who is currently not under contract with the promotion, remains a popular choice to make a surprise appearance on AEW Revolution tonight.

CM Punk

CM Punk will always become the center of attention whenever it comes to a mystery person joining AEW, but the former WWE Superstar remains adamant he won’t be making his AEW debut tonight. Punk previously signed a deal with FOX that led to his shocking return to WWE programming as an analyst for the now-canceled Behind the Scenes of WWE. Although Punk has issued denials, very little in the wrestling business can be taken at face value, although CM Punk has stuck to his retired guns without any wrestling matches since his abrupt departure from WWE. in 2014.

Christian

Christian recently made a surprise return to WWE Royal Rumble 2021, appearing in great shape and immersing himself in a Royal Rumble match won by his best friend and longtime tag team partner, Edge. Wrestling Inc recently reported that like CM Punk, Christian was previously under contract with Fox, not WWE. It is not known whether this contract has expired or not.

You would think that if Christian is in the form he is in, with Edge currently at the top of the list as the No. 1 contender for the Universal Championship, there is value in a future program with Edge and Christian reunited in team and / or maybe even bickering. A great talker who had previous experience as an analyst, however, Christian could also perfectly fit into a player-coach role as the third man in the booth for AEW Dark Elevation.

Ahead of his surprise appearance in WWE Royal Rumble 2021, Christian made an impromptu return to the ring last year in an unauthorized match against Randy Orton. News of Christian’s return led to a peak in ratings for WWE Raw’s broadcast on June 15.

Rob van dam

RVD checks a lot of the boxes among all the teases of a big name appearing at AEW Revolution. Tony Khan grew up as a die-hard ECW fan and noted that the signer is one of his all-time favorite wrestlers.

RVD is Hall of Fame worthy because he’s not currently in the WWE Hall of Fame, and is easily one of the biggest stars in ECW history, if not the biggest. RVD recently noted that he was in talks with WWE for a documentary, and was named as one of the few Superstars to feature in WWE’s Icons series on the WWE Network.

RVD most recently appeared for WWE as part of Legends Night on January 4.

Bubba ray dudley

Similar to fellow ECW legend Rob Van Dam, Bubba Ray Dudley, who also teased a possible appearance in AEW, ticks many boxes as a possible surprise appearance. As one half of the most prolific tag team in wrestling history, Bubba Ray is a member of the WWE Hall of Fame.

Bubba Ray certainly has a knack for gossip and would fit in perfectly as a possible third commentator for AEW Dark Elevation, which has not been confirmed but could be the reason Paul Wight is the driving force behind this debut.

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