Cash – Bing Gallery http://binggallery.com/ Tue, 12 Oct 2021 12:29:43 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://binggallery.com/wp-content/uploads/2021/04/default-150x150.png Cash – Bing Gallery http://binggallery.com/ 32 32 The day – Moody’s judges the refinancing efforts of the casino-owning tribes https://binggallery.com/the-day-moodys-judges-the-refinancing-efforts-of-the-casino-owning-tribes/ Fri, 19 Mar 2021 08:44:35 +0000 https://binggallery.com/the-day-moodys-judges-the-refinancing-efforts-of-the-casino-owning-tribes/ Moody’s Investors Service weighed on the gaming tribes of Southeast Connecticut late last week, upgrading the Mohegans ‘financial rating to “stable” and attaching a “limited default” designation to the Mashantucket Pequots’ debt after that the tribe obtained a loan extension. The Tribes, respective owners of Mohegan Sun and Foxwoods Resort Casino, have faced severe financial […]]]>

Moody’s Investors Service weighed on the gaming tribes of Southeast Connecticut late last week, upgrading the Mohegans ‘financial rating to “stable” and attaching a “limited default” designation to the Mashantucket Pequots’ debt after that the tribe obtained a loan extension.

The Tribes, respective owners of Mohegan Sun and Foxwoods Resort Casino, have faced severe financial pressures in recent months due to the impact of the COVID-19 pandemic on their businesses.

Moody’s upgraded the Mohegan Tribal Gaming Authority’s family bond rating to “Caa1” from “Caa2” and its probability of default rating to “Caa1-PD” from “Caa2-PD”. The agency confirmed its “B1” rating on the Mohegan Senior Revolver Loan and its “Caa1” rating on the Mohegan Senior Secured Notes.

Moody’s investment ratings range from a minimum of “C” to a maximum of “Aaa”, which are considered to be of the highest quality, subject to the lowest level of credit risk. Bonds rated in the “C” range are considered speculative and very risky.

In a rating action Friday, Moody’s cited the Mohegans refinancing on January 26 of a $ 262.9 million loan with a new maturity in April 2023.

“This, along with Moody’s expectations that MTGA will generate approximately $ 25 million in positive free cash flow after interest, cash distributions and capital expenditures in fiscal 2021, will improve the company’s ability to face the challenges of the coronavirus and will reduce its leverage over time. Moody said.

“The elimination of significant short-term loan amortization requirements and term debt maturity allowed MTGA to bypass a potential default later this year,” said Keith Foley, vice president senior of Moody’s.

In an announcement Friday regarding the Mashantuckets’ debt, Moody’s said the “limited default” designation resulted from the tribe’s agreement with a bank lender to extend the maturity date of a term loan from December 31, 2020. until February 16, 2021.

While Moody’s said it viewed the extension of the deadline as a missed payment, the agency noted that the extension did not constitute a default under the Mashantuckets’ debt agreements. About $ 255 million of the original loan principal of $ 275 million was outstanding as of September 30, 2020, according to Moody’s.

“Without the extension, Moody’s estimates that Mashantucket would not have been able to repay the B Term Loan in full on December 31 as current cash flows, although positive, as well as free cash balances are not are not sufficient to meet all of the debt of the Mashantuckets. service obligations, “Moody’s said.

The Mashantuckets have a “Ca” corporate family rating and a “negative” rating outlook. The tribe, which defaulted on $ 2.3 billion in debt in 2009, has been operating under a forbearance deal with lenders since 2014 after failing to meet the terms of a debt restructuring from 2013.

The forbearance agreement has been extended several times.

b.hallenbeck@theday.com

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Student loan repayments are suspended. Here’s how to get the most out of it https://binggallery.com/student-loan-repayments-are-suspended-heres-how-to-get-the-most-out-of-it/ Fri, 19 Mar 2021 08:44:35 +0000 https://binggallery.com/student-loan-repayments-are-suspended-heres-how-to-get-the-most-out-of-it/ Millions of student loan borrowers were given a welcome reprieve last month when President Joe Biden extended the suspension of payments and interest on federal student loans until September 30. Jill Biden calls for free community college access for COVID-19 economic recovery The break on payments, which has been in effect since March, was due […]]]>
Millions of student loan borrowers were given a welcome reprieve last month when President Joe Biden extended the suspension of payments and interest on federal student loans until September 30.

Jill Biden calls for free community college access for COVID-19 economic recovery

The break on payments, which has been in effect since March, was due to expire on January 31. This allowed more than 20 million borrowers to stop paying off their student loans, while interest remained at 0%.

The suspension of payments, known as forbearance, has brought much-needed relief to those torn between staying up to date on their student loans or paying other bills. But for those who can afford it, it’s also an opportunity to set aside savings or pay off a student loan anyway – without the interest adding up.

Tips for paying off credit cards and other debt during the COVID-19 pandemic

This is because forbearance automatically applies to anyone with student loans held by the federal government and will not increase your payments during the break period.

“Student loan forbearance is an opportunity for people to make progress in these areas without derailing the rest of their budgets,” said Bruce McClary, senior vice president of communications for the National Credit Counseling Federation ( NFCC). “It’s also a good time to allocate some extra money to pay off high interest credit cards or signature loans.”

Here’s how to get the most out of your finances while student loan payments are on hold.

Pay off your credit card debt

Tackling credit card debt should be the top priority. Credit cards generally carry high interest rates and can prevent you from getting the most out of your money for things like building an emergency fund and saving for retirement.

The average credit card interest rate is 14.65%, according to Federal Reserve data.

Pair high interest rates with low payments and you could be paying off your credit card for years.

Take advantage of this time to pay far more than the minimum on your card balances. This will help you pay off your debt faster and free up credit for other expenses you may need later.

It can also help increase your credit score.

Build up your emergency savings

Creating an emergency fund is never a bad idea. Why? As we have all seen over the past year, life can be unpredictable. So it’s always good to be prepared.

Emergency savings can be useful during unforeseen events, such as a car accident or the loss of a job. It can also serve as a financial cushion during a transition in uncertain times.

With monthly student loan payments paused, you can redirect the amount you would have paid for your loans to a savings account to build your emergency fund.

Mark Kantrowitz, a student loan expert, recommends doing this before deciding whether to continue paying off student loans during the forbearance period.

“In addition to covering unforeseen auto repair or home maintenance expenses, it provides you with money to cover living expenses during a period of unemployment,” he said.

Try to save at least three to six months of living expenses.

Saving for retirement

Saving for retirement while paying off debt can be difficult. But with student loans on hold, you can use that time to boost your retirement savings.

If your employer offers a 401 (k) match, start by maximizing your contributions to get the complete match. For example, if your business matches contributions up to 6% of your salary, you must contribute at least 6% to your 401 (k) to take full advantage.

“It’s free money, which is hard to beat,” Kantrowitz said.

You can also automate your savings to make regular contributions to your retirement account and set aside extra money you might have after paying other bills.

Consider paying off your student loans anyway

Missed payments are not forgiven. Your loan total will stay the same, so keeping them forborne will extend the repayment period. If you can still afford to make payments now, your loan will be paid off sooner.

“If you’re well positioned with the rest of your financial goals and obligations, you can make quite a bit of progress toward paying off your student loans without accruing interest,” McClary said.

There are exceptions however. For people enrolled in programs such as Public Service Loan Forgiveness (PSLF) or Income-Based Repayment Plans, you should refrain from making additional payments on your loans while they are in forborne. . This is because additional payments may reduce the amount of discount you will eventually receive.

“It might be a good idea to focus on growing your retirement and investment accounts instead,” said Travis Hornsby, Founder and CEO of Student Loan Planner.

But that’s not all.

Robert Farrington, founder of The College Investor, a personal finance and investing website for millennials, recommends borrowers with income-focused repayment plans make sure to recertify their income by September for s ‘ensure that new payments reflect the amount they are currently earning.

“This is especially important for people who may have drastically reduced incomes due to the pandemic. If you don’t recertify based on your current income, you could have a much larger loan repayment than you can afford. “, did he declare.

On the other hand, borrowers participating in programs such as the PSLF must ensure that they certify their employment to obtain credit for qualifying work during the entire forbearance period.

Prepare to resume payments

Student loan forgiveness won’t last forever, and when it ends, you should be ready to resume payments.

“Don’t lose sight of when your payment is due,” McClary said. “Set reminders and make sure it’s always on your radar.”

As for borrowers who may not be able to start repaying their loans due to reasons such as prolonged financial hardship, they should explore affordable repayment options a few months before the forbearance ends.

McClary says organizations like the NFCC provide advice on student loan repayment to help borrowers understand which affordable repayment options best suit their situation and how to navigate the application process.

The bottom line

Whether you’re looking to save for retirement, put money aside for financial emergencies, or just cut down on high-interest debt, making the most of the student loan payment break can help you. help achieve those financial goals.

“Use this time to grow your emergency savings, pay off other debt, establish regular retirement contributions, and strengthen your overall finances,” Hornsby said. View forgoing student loans as an opportunity to fill the holes in your roof financially so the next time there is a financial storm, you are well prepared for it. ”

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Manhattan Bridge Capital Fourth Quarter Results https://binggallery.com/manhattan-bridge-capital-fourth-quarter-results/ Fri, 19 Mar 2021 08:44:34 +0000 https://binggallery.com/manhattan-bridge-capital-fourth-quarter-results/ Actions of Manhattan Bridge Capital (NASDAQ: LOAN) fell 0.6% in pre-market trading after the company released its fourth quarter results. Quarterly results Earnings per share fell 16.67% year-over-year to $ 0.10, which missed the estimate of $ 0.11. Revenue of $ 1,768,000 was down 4.69% from the same period last year, beating the estimate of […]]]>

Actions of Manhattan Bridge Capital (NASDAQ: LOAN) fell 0.6% in pre-market trading after the company released its fourth quarter results.

Quarterly results

Earnings per share fell 16.67% year-over-year to $ 0.10, which missed the estimate of $ 0.11.

Revenue of $ 1,768,000 was down 4.69% from the same period last year, beating the estimate of $ 1,200,000.

Look ahead

Profit forecasts have not been released by the company at this time.

See more income on LOAN

The revenue forecast has not been released by the company at this time.

Price action

52 week high: $ 5.69

The company’s 52-week low was at $ 2.54

Price action in the last quarter: up 29.55%

Company Description

Manhattan Bridge Capital Inc operates as a real estate investment trust specializing in the creation, management and management of a portfolio of senior mortgages. It provides short-term, secured and non-bank loans to real estate investors to finance the acquisition, renovation, rehabilitation or improvement of properties located in the New York metropolitan area. The primary business objective of the company is to grow its loan portfolio while protecting and preserving capital in a way that provides its shareholders with attractive long-term risk-adjusted returns through dividends. The business generates income in the form of interest income from loans.

See more Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Self-storage, a positive point as CMBS arrears increase https://binggallery.com/self-storage-a-positive-point-as-cmbs-arrears-increase/ Fri, 19 Mar 2021 08:44:34 +0000 https://binggallery.com/self-storage-a-positive-point-as-cmbs-arrears-increase/ A near-zero CMBS loan delinquency rate for self-storage facilities during the pandemic-fueled recession is helping demonstrate the industry’s resilience, according to a new report from data and analytics provider Trepp LLC. The report, released this month, shows that while CMBS delinquency rates have generally skyrocketed during the pandemic – particularly in the hospitality and retail […]]]>

A near-zero CMBS loan delinquency rate for self-storage facilities during the pandemic-fueled recession is helping demonstrate the industry’s resilience, according to a new report from data and analytics provider Trepp LLC.

The report, released this month, shows that while CMBS delinquency rates have generally skyrocketed during the pandemic – particularly in the hospitality and retail sectors – the CMBS delinquency rate in the self -stocking stood at 0.14% in September. For comparison, the overall CMBS failure rate hovered around 10.5%.

Self-storage, according to Lonnie Hendry Jr., head of consulting services at Trepp, is “a not very sexy income-generating type of property that is kind of the same in a rising market and the same in a falling market.”

Hendry said self-storage operators are taking advantage of tenants not asking to cancel self-storage contracts amid the pandemic, giving operators a stable tenant base. Therefore, he said, the recession-resistant nature of the industry should remain intact.

“Self-storage is fairly well insulated. It’s not something that will ever become everyone’s first choice [in real estate investing], necessarily, ”he said. “But at the same time, if you’re looking for stable cash flow and a good, solid investment in good markets, you can make a very good living operating a self-storage facility. “

Zoom on CMBS self-storage

A survey earlier this year by commercial real estate service provider Cushman & Wakefield found that just 10% of self-storage professionals cited CMBS as the best source of debt in the next 12 months, compared to 50%. who cited banks and 24% who cited life insurance companies.

According to the Trepp report, the metropolitan areas with the highest totals for CMBS self-storage loan balances are:

  • Los Angeles, California – $ 808.4 million
  • New York, NY – $ 638.8 million
  • San Francisco, CA – $ 418.6 million
  • Dallas-Fort Worth, Texas – $ 318 million
  • Houston, Texas – $ 265.8 million

Of more than 1,700 CMBS loans for self-storage facilities, only three were in arrears as of September, according to the report. These three loans were spread over three metropolitan areas: Bridgeport-Stamford-Norwalk, CT; Palm Bay-Melbourne-Titusville, Florida; and Houston.

The low delinquency rate in the sector “is partly explained by the fact that the bill for a self-storage center represents a very small part of the monthly expenses of an individual or a company. So, despite a slowdown, the effect of income on self-storage demand is minimal, ”according to the report.

“As Trepp’s data shows, the self-storage industry has been relatively resilient in recent months,” the report continues. “Despite significant distress in the economy in general, the industry continues to operate without major disruption. However, despite increased demand, increased operating expenses and limited rental collection could potentially derail higher revenues. “

Resilience in action

A September report from commercial real estate data provider Yardi Matrix echoes the Trepp report.

“The real estate sector has had a difficult year as COVID-19 continues to weigh on the economy. However, the self-storage sector has demonstrated its ability to overcome economic disruptions. Street fare performance across the country continued to improve in August, with more markets recording positive growth on a year-over-year and monthly basis, ”according to Yardi Matrix.

“While there appears to be a slowdown in new storage development activity,” adds the Yardi Matrix report, “this may be a welcome relief for many in the storage industry, especially in markets that have been strongly affected by a new offer in recent years. . “

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British investment bank: coronavirus-related loans are working https://binggallery.com/british-investment-bank-coronavirus-related-loans-are-working/ Fri, 19 Mar 2021 08:44:34 +0000 https://binggallery.com/british-investment-bank-coronavirus-related-loans-are-working/ The British Investment Bank says coronavirus loan programs benefit businesses all over the UK. According to a note distributed by the Bank, loans follow the population of businesses in each region. Loans are provided by both traditional financial services companies and several fintechs. Some of the details provided are as follows: Breakdown of credits offered […]]]>

The British Investment Bank says coronavirus loan programs benefit businesses all over the UK. According to a note distributed by the Bank, loans follow the population of businesses in each region. Loans are provided by both traditional financial services companies and several fintechs.

Some of the details provided are as follows:

Breakdown of credits offered by region – CBILS

Region Number of CBILS loans Funding volume under CBILS (£) % of equipment offered % of business population
East Midlands 3,325 776 952 806 7% 6%
East of England 4,669 1,020,035,597 11% ten%
London 7,790 2 001 937 526 17% 19%
Northeast 1 233 263 944 238 3% 3%
North West 4,699 1 129 802 539 ten% ten%
North Ireland 836 237 817 722 2% 2%
Scotland 2,693 587 638 410 5% 6%
South East 7 376 1,585,052,125 16% 16%
South West 4 283 927 187 748 9% ten%
Wales 1,391 303 205 680 3% 4%
West Midlands 3,770 871 365 361 9% 8%
Yorkshire and the Humber 3 419 741 647 567

8%

7%
Unknown 137 39,998,100 0% 0%

Breakdown of equipment offered by region – BBLS

Region Number of BBL installations Funding volume under BBLS (£) % of equipment offered % of business population
East Midlands 67,515 1 982 958 564 6% 6%
East of England 100,476 3,060,902,628 ten% ten%
London 210 102 6 983 181 564 20% 19%
Northeast 33 651 939 452 112 3% 3%
North West 112,444 3 338 019 322 11% ten%
North Ireland 25,491 809 032 542 2% 2%
Scotland 63 649 1 844 452 115 6% 6%
South East 144,152 4 347 184 714 14% 16%
South West 84,593 2 408 463 217 8% ten%
Wales 40 195 1 115 836 982 4% 4%
West Midlands 84,773 2,593,303,126 8% 8%
Yorkshire and the Humber 73 962 2 185 143 320 7% 7%
Unknown 1,665 51 761 340 0% 0%

According to the loan analysis, the wholesale and retail sector accessed a significantly higher proportion of CBILS loans (19%) than its share of the business population (9%), with manufacturing (13%). vs. 5%) and Accommodation and Food Services (9% vs. 3%) following a similar trend.

The wholesale and retail trade sector also had access to a relatively high proportion of rebound lending relative to its share of the business population (16% vs. 9%), as did businesses in hosting services and catering (8% vs. 3%) and real estate services (6% vs. 2%).

Keith Morgan, CEO of British Business Bank, made the following statement:

“A key objective of the British Business Bank is to identify and help reduce regional imbalances in access to finance for small businesses across the UK. It’s good to see in the data that these programs are helping businesses in the UK’s three decentralized nations and England’s nine regions access the finance they need to survive and stabilize, putting them in a better position to grow. as we move towards recovery.

Minister of Small Business Paul Scully added:

“Throughout this crisis we have supported businesses of all sizes across the UK. Programs run by the government-owned British Business Bank have provided much-needed respite for businesses as they face the challenges posed by the coronavirus. Government support has helped businesses across Britain not only to keep businesses in business, but now enable thousands of people to bounce back safely and securely from Covid. “

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Breaking down the $ 900 billion stimulus package and the $ 1.4 billion omnibus bill https://binggallery.com/breaking-down-the-900-billion-stimulus-package-and-the-1-4-billion-omnibus-bill/ Fri, 19 Mar 2021 08:44:34 +0000 https://binggallery.com/breaking-down-the-900-billion-stimulus-package-and-the-1-4-billion-omnibus-bill/ Here’s a breakdown of what’s inside the massive end-of-year compromise: $ 166 billion in direct checks People earning up to $ 75,000 per year will receive a payout of $ 600, while couples earning up to $ 150,000 will receive $ 1,200, in addition to $ 600 per child. The agreement also makes stimulus checks […]]]>

Here’s a breakdown of what’s inside the massive end-of-year compromise:

$ 166 billion in direct checks

People earning up to $ 75,000 per year will receive a payout of $ 600, while couples earning up to $ 150,000 will receive $ 1,200, in addition to $ 600 per child. The agreement also makes stimulus checks more accessible to immigrant families. Treasury Secretary Steven Mnuchin said Monday the checks could come out as early as next week.

$ 120 billion in additional unemployment assistance

Unemployed workers will receive an additional $ 300 per week in federal cash until March 14. The legislation also extends employment benefits to the self-employed, concert workers and those who have exhausted their state benefits.

$ 325 billion boost for small businesses

Small businesses ravaged by the pandemic would see a total of $ 325 billion, including $ 284 billion in loans through the Paycheck Protection Program, $ 20 billion for businesses in low-income communities and $ 15 billion for troubled theaters, cinemas and museums – a top priority for Minority Leader Chuck Schumer. Small business support is only expected to cover less than three months of wage costs, however, while many employers do not expect to return to normal operations for more than six months.

Finding common ground on the Fed

After many intense bickering over the weekend, lawmakers have agreed on language that will prevent the Treasury Secretary from restarting emergency loan programs created by the CARES Act, as well as designing new ones. programs that look like those that end.

Totalization of tax breaks

The legislation allows companies to deduct expenses associated with their canceled PPP loans, in addition to extending employee retention credit intended to prevent layoffs. It includes a two-year tax break for business meals – a priority for President Donald Trump – and rolls over a variety of temporary tax breaks known as “extenders,” some for multiple years. The package also extends a payroll tax subsidy for employers offering workers paid sick leave and increases the earned income tax credit.

Status quo of the border wall

The government’s portion of the year-end program funding would maintain nearly $ 1.4 billion in cash for Trump’s southern border wall, in addition to $ 20 million for the new border processing coordinators. The bill also includes $ 15 billion for customs and border protection, nearly $ 8 billion for immigration and customs enforcement and $ 840 million in emergency cash to help ports d entry to cover lost income during the pandemic. There is no new funding for an increased number of border patrol officers or immigration enforcement personnel.

$ 45 billion in transportation assistance

This includes $ 15 billion to help airlines maintain their payroll, $ 14 billion for public transit, $ 10 billion for national highways, $ 2 billion for airports and $ 1 billion for Amtrak. .

An extension of state spending

State and local governments now have until December 31, 2021 to spend the assistance provided by the CARES Act.

Food aid and farmers

The year-end package includes $ 13 billion to increase food stamp benefits by 15 percent, although it does not extend SNAP eligibility. Farmers and ranchers will also see another round of direct payments of $ 13 billion to help cover losses caused by the pandemic.

Surprise billing agreement

The omnibus includes a deal to protect patients from receiving “surprise” medical bills after last-minute haggling – a top priority for retired Sen. Lamar Alexander (R-Tenn.). As POLITICO reported earlier this month, protecting insured patients from mind-boggling medical bills for unexpected off-grid and emergency care has been a bipartisan priority for lawmakers, but progress has stalled for more. one year.

Billions for vaccines, testing and tracing

The package includes $ 20 billion for the purchase of vaccines, nearly $ 9 billion for the distribution of vaccines and around $ 22 billion to help states with Covid-testing, tracing and mitigation programs. 19. The legislation also provides $ 5 million for testing on Capitol Hill. The national strategic reserve would receive more than 3 billion dollars.

Funding of funeral expenses

About $ 2 billion will be set aside for FEMA to distribute to states to help families meet coronavirus-related funeral expenses until the end of this month, waiving a 25-month correspondence requirement. percent between states.

Restore Medicaid for the Marshallese

Tens of thousands of people in the Marshall Islands will be allowed to enroll in Medicaid, with the year-end deal revising a drafting error in the 1996 welfare reform bill that excluded people with disabilities. islanders of the program. The problem has been detailed in a series of POLITICO stories this year.

Rent assistance and eviction ban

Of the $ 25 billion in federal rent assistance, $ 800 million is earmarked for Native American housing entities. A federal deportation ban has been extended until the end of January.

Infusion for schools and daycares

The total of $ 82 billion for colleges and universities includes more than $ 4 billion for a governors relief fund, more than $ 54 billion for public K-12 schools and nearly $ 23 billion for a fund higher education. In addition, the child care sector will receive approximately $ 10 billion in emergency cash.

Trade-offs of higher education

The legislation includes a bipartisan deal to cancel nearly $ 1.3 billion in federal loans to historically black colleges and universities, award Pell scholarships to students incarcerated after a 26-year ban, and simplify financial aid forms – the latest of these three has long been a priority for Alexander who is retiring. The agreement would also repeal a 1998 law that bars students convicted of drug offenses from receiving federal financial assistance.

Major anti-busing action

Lawmakers have removed a final vestige of the firefighting busloads of the 1970s, including language that prohibits the use of federal funds for transportation costs to lead school desegregation efforts.

Salary increase for troops

The omnibus portion of the year-end program includes a 3% military salary increase. It also preserves a 1 percent pay rise for federal civilian employees next year.

Money for another Virginia class submarine

The Fiscal Year 2021 funding bill for the Pentagon includes $ 2.3 billion for a second Virginia-class attack submarine, a top priority for lawmakers who have fought to build two sub -Attack sailors per year.

A nod to new museums

The legislation allows a Smithsonian Women’s History Museum and the National Museum of the American Latino on or near the National Mall after Sen. Mike Lee (R-Utah) blocked bipartisan legislation earlier this month that would establish the museums.

Keep the relief of the contractor

The package pursues a CARES Act program that allows contractors to keep employees on the payroll even if federal facilities close.

Restrict access to electronic cigarettes

Incoming House Appropriations Chair Rosa DeLauro (D-Conn.) Scored a victory with the inclusion of legislation requiring in-person age verification when delivering online purchases of cigarette products electronic and vaping.

A variety of reauthorizations

The government’s funding element includes a compromise version of an annual intelligence authorization bill and ensures that a large package of water infrastructure will travel to the passage. It also includes technical corrections to the United States-Mexico-Canada agreement.

A boon for broadband

The agreement invests $ 7 billion to increase broadband access for students, families and the unemployed, including $ 300 million for rural broadband and $ 250 million for telehealth.

The personnel office remains independent

The legislation blocks the Trump administration’s plan to merge most of the functions of the Office of Personnel Management into the General Services Administration, a proposal criticized by unions representing federal workers.

Dan Diamond, Michael Stratford, Stephanie Beasley, Zachary Warmbrodt, Victoria Guida, Eric Wolff, Connor O’Brien and Brian Faler contributed to this report.

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Trump says Harvard must pay back the relief money he signed into law https://binggallery.com/trump-says-harvard-must-pay-back-the-relief-money-he-signed-into-law/ Fri, 19 Mar 2021 08:44:33 +0000 https://binggallery.com/trump-says-harvard-must-pay-back-the-relief-money-he-signed-into-law/ The Education Department said Tuesday evening that Education Secretary Betsy DeVos shares the president’s concerns about money going to schools like Harvard. “Sending millions to schools with large endowments is a misuse of taxpayer money,” said Angela Morabito, spokesperson for the department. She said Ms DeVos sent a letter to college and university presidents, asking […]]]>

The Education Department said Tuesday evening that Education Secretary Betsy DeVos shares the president’s concerns about money going to schools like Harvard. “Sending millions to schools with large endowments is a misuse of taxpayer money,” said Angela Morabito, spokesperson for the department.

She said Ms DeVos sent a letter to college and university presidents, asking them to determine whether their institutions really needed the money. Otherwise, she asked them to send their funds to other schools in need in their state or region. “We hope that the presidents of these schools will follow the secretary’s advice,” Ms. Morabito said.

The formula for calculating funds paid to universities relied to a large extent on the total number of students enrolled and the proportion of low-income students, as measured by those receiving federal financial assistance through the Pell Grants. Of the 6,600 undergraduates at Harvard, 16% are Pell Grant recipients, the university said, and in the 2018-19 academic year, Harvard provided $ 200 million in scholarships to its students. undergraduate.

“It was purely mechanical,” said Terry Hartle, senior vice president of the American Council on Education, a business group. “Harvard got this money because that’s how the formula allocated it. “

The state of Arizona, for example, received the largest allowance because it has 83,000 students, 40,000 of whom are considered low income, Hartle said. He estimated that beauty colleges got over $ 166 million in combined funding.

Mr Hartle admitted that the formula was open to criticism. “Formulas that are created quickly usually have anomalies that might have drawn attention if there had been more opportunity to think about it,” he said.

After the influx of criticism, Harvard said on Monday it would devote all the stimulus money it received to students “facing urgent financial need” as a result of the pandemic, and would not use any for its own. operations.

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Charlamagne Tha God launches alliance for mental wealth https://binggallery.com/charlamagne-tha-god-launches-alliance-for-mental-wealth/ Fri, 19 Mar 2021 08:44:33 +0000 https://binggallery.com/charlamagne-tha-god-launches-alliance-for-mental-wealth/ Charlamagne tha God attends AfroTech 2019. Getty Charlamagne Tha God is not new to using her personal platform to amplify mental health awareness in the black community. He is redoubling his efforts with his new initiative, the Mental Wealth Alliance. Launched today, MWA is a “forward-thinking foundation created to destigmatize, accelerate and center awareness and […]]]>

Charlamagne Tha God is not new to using her personal platform to amplify mental health awareness in the black community. He is redoubling his efforts with his new initiative, the Mental Wealth Alliance.

Launched today, MWA is a “forward-thinking foundation created to destigmatize, accelerate and center awareness and cutting-edge mental health care across the United States while creating an unprecedented long-term system of generational support for black communities “. Its goal is to raise $ 100 million over five years and partner with black-led organizations and experts to lead the charge of de-stigmatizing mental health.

“I hope that getting these siblings into therapy will make them realize the things they are going through, whether it is panic attacks, depression, anxiety or PTSD, these are normal things, ”he added. Breakfast club co-host said For (bes) The Culture.

MWA will provide free pre-therapy services to more than 10 million black Americans over the next five years. “There are reasons why you have these triggers that cause these things,” Charlamagne Tha God adds. “Once you master the language, it helps normalize it and helps you feel normal. “

Prior to the launch, For (bes) The Culture spoke to Charlamagne Tha God exclusively about celebrating the launch of MWA, the importance of mental health, and how her personal mental health journey is evolving.

For (bes) Culture: Tell me about the Mental Wealth Alliance and what inspired it.

Charlamagne God: The Mental Wealth Alliance was inspired by work I have done before, which I didn’t even know was work. A few years ago, I started telling people how I had dealt with anxiety, bouts of depression. [I started] therapy sessions and put those therapy sessions in a book, Shook One: Anxiety is playing tricks on me. I pulled out this book and didn’t even look back because frankly, I wasn’t even really comfortable with these conversions yet. I never expressed what I felt in public places like this. I went from not really talking about it at all to once in a while to being sure Dr Phil or something that talks about it. It gives me panic attacks in itself.

The next thing I know is people come to me on the street and say they started therapy because of me. People say thank you to me for talking about my anxiety because those are feelings they have had. You kind of become a mental health advocate without even trying. I remember the first time someone told me like that and I thought to myself, “I’m not a mental health advocate. It was like, ‘Yes you are whether you like it or not.’ Then you have other people like Taraji P. Henson, Tracie Jade, and Brandon Marshall, and it was like a light was starting to shine in the culture. People just started to come out of the shadows like, “Hey, I’m taking care of this too. The MWA is the evolution of all of this. There is nothing in what I do that makes me feel better [or] gives me a greater sense of purpose than doing this job. Why not create a foundation so that I can really elevate the work in a real way?

For (bes) Culture: What will providing free pre-therapy resources to over 10 million black people do for the community in terms of standardizing therapy?

Charlamagne God: It will normalize it by letting people know it’s OK not to be OK. When I was first diagnosed with anxiety it was in 2010 and I always tell this story: I was back home and living with my mom in Moncks Corner, SC , I had just been fired for the fourth time from the radio, my daughter was two years old. years ago, my wife today lived at home with her parents and I just started collecting unemployment checks. I drive on I-26 in South Carolina and have had this feeling that I have had so many times in my life before: chest tightens, breathing becomes short but heavy, squeezing my chest like I am was about to have a heart attack – again. I went to the doctor the next day and the doctor told me what all the doctors told me when I went to the emergency room to have the same feeling throughout my life: “You have a heart. athlete. Are you doing well.’

But this doctor said, “Do you have anxiety? »And this is the first time I hear this. I’m like ‘No, what is anxiety?’ and he said to me ‘Looks like you had a panic attack. Are you stressed about anything? I said, ‘Hell yeah!’ When I learned this language, in my mind all I had to do was find another job and everything will be fine. Five years later, and the next job I got was The breakfast club. I have more success and more money than I have ever had in my life, but I still have these panic attacks and feelings. I started having these conversations with these people I knew in therapy and they would tell me about it. The things they talked to me about were very similar and when I started in therapy I started to understand the language and realize that what I was dealing with was pretty normal. It’s not something that people don’t experience. It’s like any other disease you might have; you just need to know how to treat it and take care of yourself while you are dealing with it.

For (bes) Culture: Let’s talk about the three major pillars of life changing impact: train, teach and treat. Can you develop these?

Charlamagne God: The training aspect is as far as what we want to do in the mental health space. We want to increase this 3% [of Black board-certified psychiatrists] because we need people who are culturally competent in this area. The craziest thing is when you’re black and you sit down with someone who doesn’t understand where you’re from. How can you properly teach or help someone when you don’t know where they are from? The treatment part will provide therapy to 10 million blacks over the next five years. Training people and teaching is the aspect of the curriculum and bringing that social and emotional learning into schools. Pass a bill where it needs to be in the black community. If you tackle these three Ts I think it will be a game changer for our community.

For (bes) Culture: How did you see the pandemic, the electoral cycle and the tragic events of the black community impacting the mental health of black Americans?

Charlamagne God: I’ve never had so many people calling me, facing me, or texting me, “Yo, bro, I’m ready to talk to someone. Everyone sits at home and has to look after themselves all the time. There are a lot of people seeing each other for the first time and they don’t necessarily like what they see. I had one particular friend that I love and miss dearly, Jasmine Waters, and Jas was someone I bonded with on a million different things, but it was definitely about the fact that we had both face anxiety and episodes of depression. She used the tongue earlier than I did; she was diagnosed when she was 19, so she was in therapy for years.

She is one of the many who failed to make it over the last year. It got too unbearable for her and when she did what she did it made me think I really needed to lean into this job. I really need to get this foundation off the ground and help as many people as possible because he was someone who spoke the language, did the job and still couldn’t handle it. It was heavy on a lot of different people, but it pushed a lot of people to the limit in a negative and positive way. The negative way people feel like they can’t take it anymore and take their own lives; the positive way is that people push themselves to a point and end up saying, “I have to go get help and finally talk to a therapist.” Give grace to people.

For (bes) Culture: How has your journey of self-discovery in mental wellness evolved between leaving Shook a in 2018 and the launch of MWA?

Charlamagne God: I was just telling my story and I was just transparent like I try to do all the time, but therapy taught me to be more vulnerable. I’m an empath, but it made me have more grace with humans. I always say give people the grace you want God to give you and if that’s too much just give people the grace you want for yourself. I know for a fact that there are probably a lot of things that have changed about me, especially when it comes to my approach to radio, the way I talk to people and the way I talk about people because everyone is leading. battles we know nothing about.

Everyone is just doing their best and a lot of people haven’t gotten it. A lot of people are not where I am when it comes to working on myself, so you have to give people grace when it comes to that. Over the past three years, I think it’s been the biggest evolution to be more compassionate and to learn constantly. Not only to learn more languages, but to learn more techniques and practices to stay mentally healthy.

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3 actions that earn you money every month https://binggallery.com/3-actions-that-earn-you-money-every-month/ Fri, 19 Mar 2021 08:44:33 +0000 https://binggallery.com/3-actions-that-earn-you-money-every-month/ IIt’s a huge change when you go from saving for retirement to living on your retirement nest egg. The transition can be much easier with stocks that pay dividends monthly instead of quarterly, as that frequency is almost equivalent to collecting a paycheck. If that’s right for you, then you’ll want to turn to Real […]]]>

IIt’s a huge change when you go from saving for retirement to living on your retirement nest egg. The transition can be much easier with stocks that pay dividends monthly instead of quarterly, as that frequency is almost equivalent to collecting a paycheck.

If that’s right for you, then you’ll want to turn to Real Estate Investment Trusts (REITs) Real estate income (NYSE: O), Broadmark Real Estate Capital (NYSE: BRMK), and LTC Properties (NYSE: LTC). Here’s a quick look at each and the bright future that awaits them.

1. Quite a nickname

You know a company is dedicated to dividends when it goes by the nickname “The Monthly Dividend Company”. It is the income from real estate. The core of this REIT’s portfolio of nearly 6,600 properties is made up of single-tenant retail businesses, which represent approximately 85% of its rental income. The rest is largely industrial and office automation. Tenants of net leasehold properties are responsible for most of the operating costs of the properties they occupy, which means Realty Income need only collect its rent checks. Net leasing is generally considered a low risk investment approach in the REIT industry.

Image source: Getty Images.

Realty Income has an excellent record of returning money to investors, with 28 consecutive years of annual dividend increases to its credit. This makes them a dividend aristocrat, which is a very rarefied group. With plans to acquire $ 3.25 billion in 2021, there’s every reason to believe that the company’s history of slow and steady dividend growth will continue. Its return of around 4.5% at Wednesday morning prices is more than double what you would get from a S&P 500 Index fund and halfway over the past decade for the REIT. So it’s not a flashy buy, but it seems reasonably priced and would suit conservative types willing to pay full price for quality.

2. Substitute for the bank

Then the relative newcomer Broadmark Realty Capital, which is a mortgage REIT. Investors should generally be careful with mREITs, but this one is very different. For starters, this is called a hard money lender, offering construction loans to builders. It is an activity that the banks abandoned after the recession of 2007-2009, but which is vital in the construction industry. Broadmark entered that void as a private entity, then went public through a black check company at the end of 2019. The current yield is 7.9%.

There are a number of desirable attributes here. First, Broadmark is cautious in that it only lends about 60% of the expected value of a completed construction project. This provides a cushion in the event of changing market conditions. Second, it doesn’t use leverage like most other mREITs do. Having no debt greatly reduces the risk.

Broadmark reduced its dividend in 2020 because of the coronavirus. However, that was because of construction delays due to the pandemic, and not because the fundamentals of its business had changed. It has since started to increase the dividend again. Plus, he ended 2020 with over $ 200 million in cash to put to work. This will help grow his loan portfolio and possibly keep the dividend on the rise as well.

3. Get older and older

The last name on this monthly payroll is LTC Properties. LTC stands for “long term care”. The REIT portfolio is split approximately 50-50 between nursing homes and retirement homes. It uses the same net rental approach as Realty Income, so it doesn’t take the risk of tapping those assets (as some of its peers do). Thus, despite the headwinds of the pandemic, it has managed to collect the vast majority of its rents without any problem. That said, he worked with a few of his tenants on rent concessions to help them get through this difficult time.

O Dividend yield graph

O Dividend yield data by YCharts

The future is very bright here as the baby boomers continue to retire. This means that there is a significant demographic demand bubble ahead, and LTC is well positioned to take advantage of it. Helping your tenants to fend for themselves today is only a good deal as there is a material demand waiting on the other side, demographically speaking. In the meantime, investors can collect the 5.2% return on the REIT. Notably, despite owning some of the more risky properties, LTC hasn’t had to cut its dividend in 2020. That said, it hasn’t increased its dividend in years either. But if you’re looking for a monthly dividend backed by a needs-based (and needs-to-grow) business, LTC is a great option.

Time for some deep dives

Obviously, this is only a quick rundown of Realty Income, Broadmark, and LTC, but it should whet your appetite for those monthly dividend stocks. All of them have generous returns relative to the market, strong companies and good prospects for the future. If you are looking to replace your paycheck, you might find it very rewarding to do a little more research on this trio. If you do, one or more could end up in your wallet today.

10 stocks we prefer over Realty Income
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Reuben Gregg Brewer has no position in the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Should you prepay your mortgage? https://binggallery.com/should-you-prepay-your-mortgage/ Fri, 19 Mar 2021 08:44:32 +0000 https://binggallery.com/should-you-prepay-your-mortgage/ In July 2019, I wrote a column encouraging you to prepay your mortgage. I recommended it because paying it off early will save you thousands of dollars in interest, and the amount of money paid in interest can be substantial over a thirty year period. For example, the interest on a 30-year mortgage for a […]]]>

In July 2019, I wrote a column encouraging you to prepay your mortgage. I recommended it because paying it off early will save you thousands of dollars in interest, and the amount of money paid in interest can be substantial over a thirty year period.

For example, the interest on a 30-year mortgage for a $ 250,000 home would be $ 131,876, according to bankrate.com. The total interest paid on a $ 150,000 house would be $ 79,125.

Since last July, however, 30-year interest rates have fallen by almost a percentage point, from 3.95% to 3.05%. As mortgage rates hit historic lows, is it still a good idea to pay off your mortgage early?

Some would say no. Instead, they would advise you to pay the minimum on your mortgage. Any additional money that you might have applied to the mortgage should be invested.

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