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Bonds for troubled American Dream mall up 25% this year

first_img Message* Tags Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Full Name* american dreamCommercial Real EstateRetail Real EstateTriple Five Group Email Address* “As more stores opened and the vaccine is rolled out, we think that traffic at enclosed malls should rebound, with levels at American Dream continuing to rise relative to comparable malls,” according to a research note issued by Barclays’ municipal research & strategy team led by Mikhail Foux.Yields on investment grade municipal bonds have dropped to record lows against Treasuries as investors pour money into them. In search for higher yields, fund managers have been shifting to riskier bonds, such as the ones issued by Triple Five Group. [Bloomberg News] — Akiko MatsudaContact Akiko Matsuda The American Dream mall in East Rutherford, New Jersey (Getty)Municipal bonds issued for the American Dream mall in 2017 were hammered as the pandemic and other problems plagued the project, but investors have been scooping them up in recent months.As shoppers gradually return to the New Jersey mall and entertainment complex, the property’s longest duration bonds, issued by the mall’s owner, Triple Five Group, have returned 25.8 percent this year, Bloomberg News reported.American Dream bonds that in September traded at 87 cents on the dollar to yield 8.2 percent were trading at 111.7 cents Thursday to yield 4.94 percent. That’s a gain of 28.3 percent for the securities, which mature in 2050 and have a 7 percent coupon.The mall, which reopened in October, reported sales of $54 million in 2020, with $39 million collected in the fourth quarter.ADVERTISEMENTRead moreNew Jersey’s American Dream mall is a financial nightmareThis massive New Jersey retail development finally has an opening dateA Simon mall falls to foreclosure Share via Shortlinklast_img read more

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Spain: Navantia Inks Contract for 12 New LCM-1E Landing Crafts

first_img View post tag: LCM-1E View post tag: Naval View post tag: Inks View post tag: New Back to overview,Home naval-today Spain: Navantia Inks Contract for 12 New LCM-1E Landing Crafts October 10, 2011 Spain: Navantia Inks Contract for 12 New LCM-1E Landing Crafts Industry news View post tag: For View post tag: Spain View post tag: Landing Navantia, the Spanish shipbuilder undertaking the construction of Australia’s new Air-Warfare Destroyers (AWD) and two amphibious ships (LHD), will now build 12 new landing craft to compliment the new Canberra-class landing helicopter dock (LHD) amphibious ships, following a decision by the Federal Government to award the construction contract to Navantia.The decision, announced by the Minister for Defence Hon Stephen Smith and the Minister for Defence Materiel, Hon Jason Clare, comes just a fortnight after Navantia informed the Federal Government of the establishment of a wholly-owned Australian subsidiary, Navantia AUSTRALIA, which will have a permanent presence in Australia.“Navantia welcomes the decision on the LCM-1E landing craft and applauds the rigorous manner in which craft were assessed by the DMO,” the company said. “It further cements the close trading ties between Australia and Spain and the highly productive relationship that exists between Navantia, the Australian Defence Forces and a range of other suppliers to the Defence Materiel Organisation.”Each LCM-1E landing craft weighs 110 tonnes. They are already in service with the Spanish navy. The first four will arrive with the first of the new LHDs in 2014.The Federal Government announcement also comes on the eve an official visit to Australia by a senior delegation from Navantia, including CEO Senor Luis Cacho Quesada, who will discuss further opportunity to strengthen these ties.[mappress]Source: navantia, October 10, 2011 View post tag: contract View post tag: Navy View post tag: 12 View post tag: Navantia View post tag: News by topic View post tag: Crafts Share this articlelast_img read more

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Governor Mike Pence Volunteers at Wheeler Mission in Indianapolis

first_imgFacebookTwitterCopy LinkEmailShare Indianapolis – Today, Governor Mike Pence volunteered his time serving hot meals to those in need at Wheeler Mission Ministries in Indianapolis.“During this season of giving, I was honored to extend a helping hand to Hoosiers in need at Wheeler Mission Ministries in Indianapolis,” said Governor Mike Pence. “During the holiday season and throughout the year, compassionate Hoosiers and organizations like Wheeler Mission give of their time, talents and treasures and invite those less fortunate in for a hot meal and a warm bed. In this special time of the year, let’s make a renewed effort to share the joy of this season with our neighbors, for it’s in giving that we receive the greatest Christmas blessing.”Wheeler Mission Ministries is a social services organization that helps the homeless in central Indiana by providing food, shelter, and recovery programs for the homeless, poor and addicted. Those interested in volunteering or giving may visit http://wheelermission.org/.Photos are included below of the Governor volunteering at Wheeler Mission Ministries in Indianapolis.last_img read more

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Greggs launches first UK drive-thru in Manchester

first_imgHigh street bakery chain Greggs has announced the opening of its first UK drive-thru on the outskirts of Salford, Manchester.The new drive-thru, which opened on 5 June as a trial concept, will operate from Irlam Gateway Service Station on Liverpool Road.The opening will create 25 new jobs in the area and will serve all of Greggs’ popular lines such as its savouries, sandwiches and Balanced Choice range.The drive-thru will be open seven days a week from 6am-9pm on Monday to Friday, 7am-7pm on Saturday and 8am-6pm on Sunday.Roger Whiteside, chief executive of Greggs, said a drive-thru offered the ultimate convenience and seemed the logical next step for the company to take.“When it comes to food on-the-go, our customers tell us that convenience is key,” Whiteside said. “We’ve been working hard to take Greggs to where our customers need and want us to be, including office parks, industrial estates, retail parks and travel hubs. This is a first for Greggs and we are excited to trial the concept in Irlam, Manchester.”There are no further drive-thru shops planned to open in the immediate future, according to the company.last_img read more

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Florida municipal utilities break ground on 223MW solar project

first_img FacebookTwitterLinkedInEmailPrint分享Renewables Now:Construction has been launched on a 223.5-MW complex of municipal solar parks in Florida that could later expand to 375 MW.This was announced on Monday by Florida Municipal Power Agency (FMPA), which is partnering in the project with 12 Florida municipal utilities and Florida Renewable Partners LLC. Among those 12 utilities, member-owners of FMPA, are Beaches Energy Services, Keys Energy Services, Orlando Utilities Commission and Homestead. According to the statement, they are looking to expand the project to 375 MW by 2023.The Florida Municipal Solar Project, touted as one of the largest municipal-backed solar schemes in the U.S., will be built in phases, with the first one planned to continue through mid-2020. FMPA is acting as the project’s coordinator, while the 12 utilities will be the power off-takers. Florida Renewable Partners, meanwhile, will be the owner and operator of the solar parks and will also take care of their construction.The photovoltaic (PV) complex will be powered by around 900,000 solar panels that will be installed at two sites in Osceola County and at one site in Orange County. Its output is expected to cover the power consumption of 45,000 Florida households.More: Ground broken on 223.5-MW municipal solar project in Florida Florida municipal utilities break ground on 223MW solar projectlast_img read more

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Argentine Navy Keeps Up Search for ARA San Juan Submarine

first_imgBy Eduardo Szklarz/Diálogo December 12, 2017 After three weeks of intensive efforts, the Argentine Navy continues to comb the area where the submarine ARA San Juan lost contact with its base on November 15th, with 44 people on board. Most of the 18 nations that participated in the search and rescue left the area of operations. Chile, the United States, and the United Kingdom continue to support the search for the vessel. Ships already swept the 40-kilometer radius area—where an explosion was detected on November 15th—twice. The task, however, is daunting. “It’s like finding a six-centimeter cigarette on a 100-by-40-meter soccer field,” Captain Enrique Balbi, spokesperson for the Argentine Navy, said at a press conference on December 8th. “And on top of that, the [cigarette] is green,” the captain said, alluding to the black hull of the submarine to prevent underwater detection. Capt. Balbi confirmed that the search would continue “until all available resources are exhausted,” explaining that no limit was set for partner nation support. “As of yet, no end date has been set for international assistance,” he reported. “What happens is that various ships, such as the Protector [from the United Kingdom], the Atlantis [from the United States], and the dispatch boat Puerto Argentino, leave the area of operations to resupply, and then rejoin the search effort. This international effort also includes the Chilean oceanographic research ship Cabo de Hornos. “The Brazilian Navy reports that the Argentine Navy discharged the three Brazilian ships that participated in the search for the submarine ARA San Juan,” the Brazilian Navy’s Naval Operations Command told Diálogo. “The icebreaker and oceanographic research ship Almirante Maximiano and the frigate Rademaker ended their participation on November 27th, and the submarine rescue ship Felinto Perry on December 2nd.” Search area to be widened The objective now is to expand the search area while objects detected on the sea bottom are inspected. “For now, there are plans to expand the circular area with the greatest likelihood of finding something to the north, which is where the submarine would have gone on its direct course to Mar del Plata,” Capt. Balbi explained at the press conference. “This afternoon [Friday, December 8th], the U.S. Navy research vessel Atlantis, which set sail yesterday from Comodoro Rivadavia with its ROV [remotely operated vehicle], rejoined the search,” Capt. Balbi said. “The Atlantis and the [Argentine Navy dispatch boat] Islas Malvinas [will operate] with their respective ROVs to inspect three different objects simultaneously.” The dispatch boat Puerto Argentino joined the search on December 9th, using its U.S.-made side-scanning sonar, while the British HMS Protector also arrived in the area of operations. “Although [the Protector] lacks underwater viewing equipment, it has sensors to sweep the area,” Capt. Balbi added. In recent days, search and rescue units detected two objects that were inspected and ruled out as small fishing vessels. Now, international teams examine objects detected at greater depths. For instance, the dispatch boat Islas Malvinas attempts to visualize an object at a depth of 830 meters, and the Atlantis will inspect an object at 770 meters. “Fortunately, weather conditions are favorable,” Capt. Balbi said. End of rescue stage On November 30th, despite the use of the most advanced search technology, Argentine authorities announced that hope to find the crew of the ARA San Juan alive were lost. “The Ministry of Defense and the Argentine Navy, as the enforcement authorities of the International Convention on Maritime Search and Rescue, report that today, Thursday, November 30th, at 16:20 hours, the SAR [search and rescue] case for the submarine ARA San Juan ended and shifted to the search phase,” the press release read. The large-scale operation included 28 ships, nine aircraft, and 4,000 personnel from Argentina, Chile, Brazil, Peru, the United States, and 13 other nations. “Despite the scope of the efforts, locating the submarine was not possible,” Capt. Balbi said at the press conference. “The operation extended to more than twice the number of days estimated to rescue the crew.” In all, 18 nations swept over 557,000 square nautical miles with visual search and 1,049,479 square nautical miles (almost equal to the size of Argentina) with radar search. The initial efforts were done in a 482,000-square-kilometer area (nearly the size of Spain), later focused on the 40-kilometer radius where the explosion was detected. Despite all efforts carried out to depths of 300 meters, rescuers have not come into contact with the submarine or its life rafts.last_img read more

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Top Businessmen Honored at Star Network’s Kings of Long Island Event

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York By Emily Davenport via StarNetwork.comIt certainly was a night to remember at the second annual Star Network Kings of Long Island Awards and Networking Event.On Thursday, April 6, nearly 500 people gathered at Leonard’s Palazzo in Great Neck to recognize 45 men from Nassau and Suffolk counties for their work in business and the community.“You are the stars of tonight,” said Victoria Schneps, publisher of The Queens Courier and founder of the Star Network. “We are all thrilled to have you with us.”CHECK OUT PHOTOS FROM THE EVENT HEREThe evening kicked off with a cocktail hour so honorees and their guests could mix, mingle and get to know each other better. The excitement was contagious.“I would like congratulate all of my fellow honorees,” said Anil Kapoor, President & CEO of SVAM International and recipient of the Excellence in Technology Award. “It’s great to be here tonight.”“I’m extremely honored to be here,” said Jeffrey Levy, Director of Development of New York and VP of Pennsylvania at EIHAB Human Services. “I’m very excited about tonight.”Steven D. Lichtenstein, CLU, ChFC at Forest Hills Financial Group, agreed with Levy, saying, “It feels wonderful to be hanging out with a group of very successful businessmen and women from Long Island.”Nassau County Comptroller George Maragos was in attendance that evening, offering his complements to all the honorees.“I would like to congratulate you for your accomplishments,” said Comptroller Maragos. “Each one of you is an incredibly accomplished, and I know you have a lot more to give.”As the night went on, everyone gathered in the main dining hall to receive their awards for the evening.CHECK OUT PHOTOS FROM THE EVENT HEREThe Woman of the Year Award went to Kristin Thorne, Reporter for WABC-TV. The Excellence in Technology Award went to Anil Kapoor, President & CEO at SVAM International. The Family Business Award went to the LaSpina Family, proprietors at the Maple Family Centers. The Excellence in Healthcare Award went to Dr. Adhi Sharma, Senior Vice President of Medical Affairs and Chief Medical Officer at South Nassau Communities Hospital. The Champion Service Award went to Billy Richards. The Guests of Honor were Michael Faltischek, Partner at Ruskin Moscou Faltischek P.C., Robert B. Catell, Chairman of Advanced Energy Research & Technology Research Center for Stony Brook University and Dr. Yacov Shamash, Vice President of Economic Development at Stony Brook University.Ashley Edwards, who was crowned Miss Long Island 2017, was also in attendance at the event.This year’s incredible honorees included: George Andriopoulos, CEO & Founder of Launchpad Five One Six; Dean Bennett, President & CEO of J.K. Bennett & Associates, Inc.; Michael Billia, Senior VP, Regional Manager at Investors Bank; Dilip Chauhan, Director of Southeast/Asian Affairs at the Nassau County Comptroller Office; Tim Coleman, Director of Waiver and Family Support Services at Innovative Resources for Independence; Lance W. Elder, President and CEO at EAC Network; Paul Giotis, VP of Operations at EPIC Long Island; Ron Gold, Founder and President of Marketing Works; Peter Goldsmith, President and Chairman at LISTnet; Joe Graziose, Senior Vice President of Residential Construction at RXR Realty; Michael T. Hanley, Managing Partner at Michels & Hanley CPAs, LLP; Tariq Khan, President of Sentar Fuel Co., Inc., and Niats Realty Corp; David Kirschenbaum, Public Relations Manager at Neiman Marcus, Roosevelt Field; Dr. Krishan Kumar, Board of Trustees of American Association of Physicians of Indian Heritage and Professor & Chair of Pediatrics at Nassau University Medical Center; Dr. Kishore Kuncham, Superintendent of Freeport Public Schools; Stew Leonard Jr., President, CEO of Stew Leonard’s; Howard Levitt, Chair of Vistage; Jeffrey Levy, Director of Development of New York and VP of Pennsylvania at EIHAB Human Services; Steven D. Lichtenstein, CLU, ChFC of Forest Hills Financial Group; Raj Mehta, Chairman, CEO of Infosys International Inc.; Dr. Steven Mendelsohn, Chief Executive Officer of Zwanger Pesiri Radiology; Dr. Paul Mustacchia, Chairman of Medicine at Nassau University Medical Center; Brendan O’Brien, President of Gold Coast Wealth Management; Paule T. Pachter, Chief Executive Officer of Long Island Cares, Inc.; Eric Penzer, Estate Litigation Partner at Farrell Fritz, P.C.; Danny Pisani, Vice President/Director of Sales at Contour Mortgage Corporation; Jack Schnirman, City Manager of City of Long Beach; Walter Skinner, President of The Skinner Insurance Agency; Michael Smith, Executive Director at ACDS; Salvatore Spano, First Senior Vice President, Director of Retail Banking Employee Management at New York Community Bank; Nick Symanski, Business Development Manager at Flushing Bank; Joshua Thomas, Vice President of Operations at EIHAB Human Services; Matthew Thompson, Family Wealth Advisor at Morgan Stanley; Bill Waibel, President of A+ Stem Labs; Robert M. Werner, Senior VP of Operations, CFO of Parker Jewish Institute; Timothy Williams, Vice President of Santander Bank NA US; and Simon Zysman, Ph.D., President & Founder of Employee Assistance Resources Services, Inc.CHECK OUT PHOTOS FROM THE EVENT HEREThe evening’s raffle raised nearly $4,000, thanks to a very generous donation by honoree Danny Pisani, who bid–and won–on the trip to Cancun. Proceeds from the raffles went to support EIHAB Human Services and The United Family Beacon House.This event was sponsored by Parker Jewish Institute for Health Care and Rehabilitation, Investors Bank, Flushing Bank, D & F Development, New York Community Bank, Contour Mortgage, AgeWell New York, Forest Hills Financial Group, Stew Leonard’s, Zwanger Pesiri Radiology, Marketing Works, Broadway Stages, EIHAB Human Services, Bethpage Best of Long Island, Georgi Vodka, Neiman Marcus and Godiva.The Star Network, a division of Schneps Communications, brings the most powerful and active members of the community into one room through many targeted events. These provide face-to-face networking, as well as business building and branding opportunities.Nominations are now open for the Queens Power Women in Business. Email [email protected] if you would like to recommend someone to be honored. For more information or sponsorship opportunities, email [email protected] or call 718 224 5863 ext 201.last_img read more

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Cybersecurity and the board

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Although the board may delegate operational functions to management and designated committees, the responsibility for the credit union’s direction remains with the board.These responsibilities include overseeing the development, implementation, and maintenance of the credit union’s information security/cybersecurity program. With the ever-increasing array of malicious cyber events—phishing attacks, spyware, viruses, worms, ransomware, and distributed denial of service attacks to name a few—the board’s ongoing involvement in the credit union’s cybersecurity program is more important than ever.As the Federal Financial Institutions Examination Council (FFIEC) notes, “today’s financial institutions are critically dependent on IT [information technology] to conduct business operations. This dependence, coupled with increasing sector interconnectedness and rapidly evolving cyberthreats, reinforces the need for engagement by the board of directors and senior management.” continue reading »last_img read more

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Tech Time: What credit unions need to know about the rise of millennial business leaders

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » 2011. It was the year when baby boomers began to retire, initiating a tidal wave of activity destined to crest in the year 2030. That is when all boomers will reach retirement age, according to Pew Research Center.The mass exodus of baby boomers from the workforce over the next decade will leave holes in American business leadership, carving out ample opportunity for the millennial generation to take control.For credit unions, this migration represents both opportunity and challenge as millennial leaders favor local financial institutions but embrace digital efficiency.Millennials on the RiseForbes reports that by 2025, long before the last baby boomer reaches retirement age, millennials will account for 75% of the workforce. And contrary to popular belief among older generations, over half are aspiring to the role of CEO, according to an American Express survey.last_img read more

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Alderson says Binghamton will be home to a Mets affiliate next season

first_imgHughes said the details are still being worked through when it comes to determining which level of baseball Binghamton will hold. Hughes, along with a number of local officials spent the last year fighting to keep baseball in Binghamton. Mets Team President Sandy Alderson said Brooklyn would be home to a full season affiliate, but did not specify which level for any of the teams he mentioned. (WBNG) — Mets President Sandy Alderson said Binghamton will remain home to one of the Mets minor league affiliates. The news comes nearly one year after the team first learned it was at risk of being eliminated, as part of Major League Baseball’s plan to restructure the minor league system. “I would like to personally thank Senator Schumer, Congressman Brindisi, Senator Akshar, and Mayor David for being the driving force behind this decision,” said Hughes. Rumble Ponies owner John Hughes said he is “ecstatic” after learning the Mets will keep a minor league affiliate in Binghamton. UPDATE:center_img “I’m sure those details will come out coming up shortly,and we’re just looking for clarification on that and I know they’re still putting together the pieces on what everything looks like,” said Hughes. “I can say right now definitively, there will be baseball at RumbleTown, New York Mets baseball at Rumbletown in 2021.” “It really means all the hard work has paid off, everybody’s efforts have not gone unnoticed and I think it means that the Mets want to take upstate New York,” said Hughes. The Rumble Ponies were at risk of being eliminated by Major League Baseball as part of its restructuring of the minor leagues. Rumble Ponies owner John Hughes shared the following statement with 12 Sports: “Incredibly excited to be part of the New York Mets under Steve Cohen and our long time friend Sandy Alderson. We look forward to supporting their mission in any way possible. It’s a great day to be a Mets fan.” During a press conference to introduce new owner Steve Cohen, Alderson said Syracuse, Binghamton, Brooklyn and St. Lucie will be affiliates going forward but did not specify if Binghamton would continue to have a Double A team.last_img read more