Is Punjab government’s farm amendment bills beneficial to farmers or just a smokescreen?

first_imgAfter a month-long protest against the centre’s three farm bills by Congress, SAD, and AAP, the Punjab government passed three farm bills to reject (really?) the centre’s bill. The point is whether a central bill could be rejected by a state assembly? Technically no because the state bills must be accepted by the Governor of the state (who is representative of the central government) and to be assented by the president of India who follows the advice of the central cabinet led by the Prime Minister. It’s not that the Congress government of Punjab doesn’t know it, but politics is the mainstay of passing those three bills just to fool people. How? Let’s see what important amendment the Punjab Government had done and if those amendments contradict central farm acts.State bill focuses on the role of APMC Mandis. The central farm bill doesn’t negate the APMC as it’s a state subject. Centre’s farm bill is in fact beyond the APMC. Thus, it’s not understood how the central act is annulled here. State government bill made the mandatory purchase of paddy and wheat on MSP. The central government too said that MSP will continue to stay. Here Punjab government made another decision that if someone (mostly for contract farming) purchases products less than MSP price then there will be a punishment. Now, this looks very helpful for farmers but technically it is not.MSP is declared by the government for certain produces and for a certain quantity. What will happen when the centre collected the required quantity as per MSP? No one can purchase at a cost less than MSP. Thus, farmers have to go to APMC mandis to sell theirs produces. AT APMC, MSP is not a criterion. It will be auctioned and then whatever the cost, the middlemen, or say trading agents only will purchase. That means the farmers have to sell at a lesser price in the APMC mandis as beyond these mandis no one can purchase if the cost comes less than MSP. Whom it benefitted? Isn’t it benefited the mill’s owners and purchasing agents? Further what about the agri-produces that have no MSP provision?The central government lifted any type of fees or levy beyond APMC Mandis if there’s a sale by the farmer to other states or other people other than APMC Mandis. But Punjab government imposed a fee/levy for every transaction beyond the APMC Mandis. The bottom line is that farmer of Punjab has no choice other than APMC Mandis! Who’s benefitted? Farmers or traders?Central farm acts lifted the stock limit for making private players purchasing large quantities of agricultural produce from the farmer. Punjab farm bill imposes restrictions on that quantity. That means if some private players have already purchased a quantity beyond which state government will take action against them for hoarding, so they won’t able to purchase more produces. That means either farmer will be forced to stock his bumper production at his own risk or has to sell those to the Mandi traders at a throwaway price.Central farm act says that if there’s a farmer’s grievance (for example a farmer is exploited or cheated), then the District Magistrate or such other competent authority will hear the matter and solve it in a timeline of 30 days. As per the Punjab farm bill, the farmer has to go to the courts and there’s no time limit. Common-sense says what would be the time taken to deliver justice by the courts. So, in whose favour the Punjab government’s bill is?The point is simple. The central farm acts give an option for the farmers to look for alternatives to the existing facilities including APMC mandis where his problems are not sorted out. But then the parties did the politics and created a smokescreen.What will happen if the Punjab governor accepted the bill and the President of India assented? Simple? Punjab Farmers will be exploited by mandi agents and traders whereas farmers of the rest of the country will use better options as available and also can-do interstate trades (barring Punjab) and also contract farming on produces that are money fetching.It’s not that farmers don’t understand this. The farmer community of India has no objection to central laws. It’s just political parties and traders (who are to suffer losses as farmer gains profit) are irritated and trying to create confusion. But then majority public including farmers nowadays are very smart, mature and intelligent enough to see through any design just to manipulate people and create a controversy that really doesn’t exist.last_img read more

LandTransfers

first_imgHomeNewsLandTransfers Top Searches Top Searches Seaman OhioPeeblesSmalk LandTransfersApril 2, 2021Mark CarpenterNews0 Feb. 19- 26, 2021Austin R. Fawley, Xavier N. Newman, Xavier N. Fawley to Eric W. Fannin, Heather N. Fannin, Meigs Twp, 2.000 ac.Christopher R. Flaig Trustee, Christopher R. Flaig to Robert Scott Gill, Bratton Twp, 17.002 ac.Peggy Sturdivant Trustee, Roads Keystone Preservation Trust to Troy Bradley Jackson, Janetta Jackson, Seaman Village, 0.605 ac.Countrytyme Land Specialists LTD to John F. Zinck, Green Twp, 5.0101 ac.Rick E. Berry, Brenda J. Berry to Theresa A. Burgess, Green Twp, 1.50 ac.Robert J. Gifford, Rebecca Gifford to Bryan D. Caskey, Chad S. Caskey, Green Twp, 8.173 ac.Charles K. Lucas Jr by POA, Robin P. Lucas to Ronald A. Hansgen, Lucinda L. Hansgen, Tiffin Twp, 10.723 ac.Mark A. Gibson to Joe Junior Bishop III, Jade Nicole Bishop, Tiffin Twp, 6.046 ac.William J. Pell Trustee, Pell Family Trust to William M. Pell, William J. Pell, Brush Creek Twp, 10.003 ac.Elizabeth Ramsey, Joshua Dykes to Jeffrey Wilson, Liberty Twp, 11.877 ac.Patricia S. Murphy to Patricia S. Murphy, Elizabeth L. Calhoun, Brush Creek Twp, 3.280 ac.Ruth Hemmings, R. Joanne Hemmings to Scott McMahan, Jennifer McMahan, West Union Village, 0.691 ac.Raymond C. Belcher, Patricia Belcher to Brandon Knox, Mindy Knox, Brush Creek Twp, 25.025 ac.Heeter Land Development LLC to Tammy Gallagher, Brush Creek Twp, 28.101 ac.Steven Shane Edmisten, Amber Elizabeth Edmisten to Briar S. Kessler, Scott Twp, 0.894 ac.Christi B. Countryman Dick to Randy Wayne Spires II, Jill Spires, West Union Village, lot 156, 161Saab Realty to Saab Realty, Seaman Village, 1.1505 ac.Saab Realty to Saab Realty, Seaman Village, 0.8500 ac.Gerald Humphrey, Alana Humphrey to Matthew Ernest Woodburn, Sprigg Twp, 1.00 ac.Gloria Ann Owens Dec’d to John H. Owens Jr, Oliver Twp, 96.45 ac.Byron Kelly Grooms, Nancy Grooms to Brett Grooms, Melissa Grooms, Brush Creek Twp, 6.517 ac.Byron Kelly Grooms, Nancy Grooms to Brandon Grooms, Sherri Grooms, Brush Creek Twp, 9.941 ac.Garretson Farm LLC, Matthew L. Garretson to Kirk A. Larson, Sherry L. Larson, Green Twp, 117.2609 ac.Southern Hills Community Bank to Travis Fleshman, Ashley Fleshman, Meigs Twp, 10.108 ac.Jayme Frear, Jayme Harper, Blake Frear to David Harmon, Lisa Marie Miller, Wayne Twp, 5.001 ac.Aaron K. Gifford to Kersey & Daughters LLC, Green Twp, 1.000 ac.Berna Dean Foster Dec’d, Berma Dean Seaman Dec’d to Jacob Yoder, Eunice Yoder, Tiffin Twp, 0.90 ac.Miranda J. Moles, Jimmy Moles, Miranda Moles to Crystal Russell, Liberty Twp, 6.000 ac.Bobbie Brandenburg, Bobbie R. Brandenburg to Our Family Cabin LLC, Franklin Twp, PreviousCommissioners hold March 22 meetingNextCriminal Traffic Disposition Report Around the WebThis Video Will Soon Be Banned. Watch Before It’s DeletedSecrets RevealedMd: Do This Immediately if You Have Diabetes (Watch)Blood Sugar BlasterThis Weird Method Can Restore Your Vision Naturally (Watch)Healthier LivingHave an Enlarged Prostate? Urologist Reveals: Do This Immediately (Watch)Healthier LivingIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier LivingWomen Only: Stretch This Muscle to Stop Bladder Leakage (Watch)Healthier LivingThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancel Powered By 10 Sec 5 Easy and Delicious Crock Pot Meatball Appetizer Recipes NextStay 5 Easy and Delicious Crock Pot Meatball Appetizer RecipesNOW PLAYINGHow to Melt and Soften ButterNOW PLAYINGHow to Slice & Mince Vegetables Like a ProNOW PLAYINGHow to Use a Meat ThermometerNOW PLAYINGHow to Core and Slice a PineappleNOW PLAYINGHomemade Caramel SauceNOW PLAYINGSweet Alabama PecanbreadNOW PLAYINGApple Pie Bites With Caramel SauceNOW PLAYINGApple Pie BitesNOW PLAYINGOld Fashioned Soft and Buttery Yeast RollsNOW PLAYINGHawaiian Roll Ham SlidersNOW PLAYINGHow to Peel TomatoesNOW PLAYINGHow to Make the Ultimate Light and Fluffy Mashed PotatoesNOW PLAYINGPerfect Bacon Every TimeNOW PLAYINGPumpkin Cream Cheese BarsNOW PLAYINGHow to Knead DoughNOW PLAYINGBest Carrot Cake EverNOW PLAYINGParmesan Baked Pork ChopsNOW PLAYINGMama’s Deviled EggsNOW PLAYINGHow to Remove a YolkNOW PLAYINGCroissant Breakfast Sandwich CasseroleNOW PLAYINGCheesy Baked AsparagusNOW PLAYINGCheesy Bacon Baked Brussels SproutsNOW PLAYINGHow to Poach an EggNOW PLAYINGHow to Shuck, Cook, and Cut CornNOW PLAYING Arrow Left #1 Icon Created with Sketch. 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Canadian electricity interests look to US export markets

first_img Twitter Likewise, Manitoba Hydro, already a member of the Midcontinent Area Power Pool (MAPP), is considering its options with respect to joining an RTO. In the fiscal year ended March 2000, the NEB said the crown utility earned 31% of its revenues from exports, mostly to the US Midwest. By chloecox – Additional connections to Michigan will give hydro rich Quebec, Canada’s largest power market, more flexibility for power exchanges and trade, said NEB. In 2000, Hydro-Quebec’s exports to the US totaled a record 20 Tw-hr. Facebook Linkedin By the OGJ Online Staff Linkedin Further integration of the US and Canadian markets would increase Canadian export revenue, but could also lead to upward pressure on power prices in some provinces, the NEB said. Canadian electricity interests look to US export markets Avista Utilities’ 2021 electric IRP includes upgrades to existing hydropower HOUSTON, May 10, 2001 — BC Hydro’s revenues from exports to the US Northwest and Alberta increased to $2 billion last year, nearly four times that of 1999, even though actual exports were down slightly, the National Energy Board said in a new assessment of the Canadian power market. In addition, the Canadian energy oversight organization said British Columbian power developers are continuing to examine small run-of-the-river projects of less than 10 Mw. RELATED ARTICLESMORE FROM AUTHOR Rising electricity demand notwithstanding, most Canadian provincial electricity markets will be able to serve their own needs in the next few years, the NEB said, with plenty left over for exports to the US. Canadian electricity generation is predominantly hydro-based and, as such, is cost competitive with many North American jurisdictions. Hydopower rich regions such as British Columbia, Manitoba, and Quebec expect to capitalize on exports to the electricity hungry US market. “Provided unconstrained and economical access to the US transmission system, Hydro-Quebec appears to be positioned to expand its trading activities,” the NEB said. Export goalsTotal additions proposed during 2001-2005 are about 4,500 Mw. This includes three new coal-fired plants, a number of gas-fired cogeneration plants, and wind projects. With an adequate reserve margin, a direct interconnection to Hydro-Quebec, and proximity to competitive New England electricity markets, the NEB said, it appears New Brunswick is positioned to play an increasing role in the export market. As a low cost producer, the NEB said Manitoba Hydro is able to capture significant profits by selling electricity to the US Midwest. To bolster its surplus, Manitoba Hydro is building a 225 Mw gas-fired plant and is evaluating three potential sites for future hydro facilities.center_img Facebook TAGSBCHydroH-QuebecPGE 5.11.2001 With a 7,393 Mw interconnection, Hydro-Quebec’s largest export markets are New England and New York state. Most of Hydro-Quebec’s long-term contracts expired in April, the NEB said, and the utility is relying on short-term transactions to maintain its export market share. While Alberta has transmission links to British Columbia and Saskatchewan, it presently has no direct access to the US transmission system. Exports to the US occur mainly by wheeling power over BC Hydro’s system, which has interconnections with US utilities in the Pacific Northwest and California. To improve its access to the US, Albertan transmission owners are considering joining an RTO, including RTO West. Electricity exports from New Brunswick to the US have increased since 1994, totaling about 4.4 Tw-hr. In 1999, exports to the US Northeast accounted for about 18% of NB Power’s total revenue. Hitachi ABB Power Grids to modernize 1.2-GW Chinese hydropower plant To boost ties with the US, electricity transmission interests in several provinces also are considering membership in regional transmission organizations (RTOs). The move would expand Canadian exporters access to US markets, especially the Midwest, Northwest, and Northeast. Demand outstripped supply in Alberta during the 1990s, eliciting more interest in building new power projects. Sponsors have announced additions totaling 2,300 Mw that is scheduled to become available between 2001-2003, boosting total capacity to about 10,500 Mw. Interprovincial transmission connections allow Ontario to import lower priced electricity from hydro producers in Manitoba and Quebec and export surplus power to higher-priced US markets, the NEB said. Some 3,000 Mw of new generating capacity has been announced for the province. Sithe Energies Inc. has proposed two 800 Mw gas-fired combined cycle plants with a proposed start-up date of 2002, and TransAlta Corp. has proposed a 440 Mw project with a fall 2002 start-up date. Twitter Previous articleEnvironmental consultant says politicians are missing big picture in CaliforniaNext articleChicago area homeowners to test residential fuel cells chloecox Voith Hydro supplying pumped storage equipment to pair with Idaho combined solar-wind project RenewablesHydroelectric The utility also recently signed an agreement in principle with the Tataskweyak Cree Nation to develop the Gull Rapids generating station and is working on a agreement for the Wuskwatim and Gull generating stations. Power from these new hydroelectric stations is not expected to come on line before 2008, the NEB said. With limited opportunity for additional large-scale hydro projects in British Columbia, the province is expected to turn to natural gas to fuel future power projects. About 500 Mw of new capacity is expected to come on line between now and 2003 in British Columbia, the NEB said. No posts to displaylast_img read more

Experts warn Labor Day could trigger COVID-19 surge across country

first_imgDutcherAerials/iStockBY: ARIELLE MITROPOULOS, ABC NEWS    (NEW YORK) — Health experts are pleading with the American public to be vigilant during the upcoming Labor Day weekend to prevent a repeat of the increase in COVID-19 cases that followed the Memorial Day and the Fourth of July holidays.“We don’t want to see a repeat of the surges we’ve seen following holiday weekends,” said Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, during an interview with CNN on Thursday. “That doesn’t mean you have to lock yourself in a room and not enjoy what hopefully will be a nice weekend for people, but there are certain fundamental things that you can do and still enjoy yourself.”Large social gatherings, crowded venues, juxtaposed to the highly infectious virus, have proven to result in a widespread escalation of metrics across the country.Memorial Day appeared to be the first domino of the summer surge, setting off an influx of cases across many states in the following weeks and months.On May 25, Memorial Day, the national seven-day average of new cases was 21,955. Five weeks later, on June 29, the seven-day average jumped to 40,178, an 83% increase in new cases, according to an ABC analysis of data compiled by the COVID Tracking Project, and from where the below data is cited.In the weeks following the holiday, the South saw a rise in its COVID-19 metrics and on May 25, reported an average of 7,641 new daily cases. A month later, that number had increased by 126%.A similar pattern occurred just over a month later following the Fourth of July weekend.Just two weeks after July 4, the U.S. hit a record high of 76,844 daily cases, and a seven-day average of new COVID-19 cases had risen by nearly 40%. By July 23, current hospitalizations hit a near-record high of 59,720 — an increase of 56.6%.Eight weeks after Memorial Day, and three weeks after the Fourth of July, cases peaked in the South, with a seven-day average of new cases standing at 39,587, an increase of nearly 418% from May 25.Death metrics, which tend to lag behind other COVID-19 metrics, soon increased in the weeks following the early summer holidays.On July 4, the seven-day average of deaths stood at 500. Aug. 12, approximately five weeks after the holiday, marked the deadliest day of reported COVID-19 deaths, this summer, with 1,517 deaths reported. In August alone, there were 21 days with over 1,000 deaths reported, and 30,000 deaths were reported in total.According to Fauci, the American public’s behavior over the Labor Day holiday is critical to dictating what the course of the virus will be this fall.“We don’t want to see a surge under any circumstances. But particularly as we go on the other side of Labor Day and enter into the fall … we don’t want to go into that with another surge that we have to turn around again,” he said.Such an uptick would be particularly worrisome, with winter approaching and people congregating inside, leading to potential spikes in infections.“We’re going into fall with a lot more disease than we entered summer,” Dr. Ashish Jha, dean of Brown University’s School of Public Health, wrote in a series of tweets on Thursday.“Starting at a baseline of 40,000 daily cases is a bit of a disaster, and no; vaccine on Oct. 22 won’t bail us out,” he added.At its peak in July, the U.S. reported a seven-day average of approximately 66,000 daily cases.Although testing has increased substantially since the beginning of the summer, new cases and national testing has dropped by nearly 39% and 12.6% respectively, since the end of July. However, heading into the holiday weekend, a number of states are exhibiting concerning COVID-19 trends.According to an ABC News analysis of data, compiled by the New York Times, the number of states reporting an increasing new case trend appears to be going up. Three weeks ago, only five states and Puerto Rico were reporting increasing new case trends. Since then, that metric has doubled, with 18 states reporting increasing new case trends.The Midwest, in particular, continues to be a concern.“There are several states that are at risk for surging, namely North Dakota, South Dakota, Iowa, Arkansas, Missouri, Indiana, Illinois,” Fauci said in an interview with Bloomberg this week.Seven-day averages of the rate of positivity have risen over the last two weeks in 11 Midwestern states.In addition, Montana, North and South Dakota, Michigan, Minnesota, and Missouri have all recently reported an uptick in infections among young people between the ages of 18-25.Missouri has also reported nine consecutive days with over 1,000 cases and the seven-day average of new cases in South Dakota has increased by 149% over the last two weeks.It is essential for Americans to scrupulously follow social distancing guidelines, wear masks and avoid crowds. “If we’re careless about it, then we could wind up with a surge following Labor Day,” Fauci added. “It really depends on how we behave as a country.”Copyright © 2020, ABC Audio. All rights reserved.last_img read more

Is Ukraine en route to the Union?

first_imgIt has already been criticised as being only cosmetic and lacking anything new. Many of the items on the List are essentially reformulations of the corresponding items in the action plan. This applies for instance to EU support for Ukraine’s accession to the World Trade Organization (WTO) and the language used on enhanced co-operation in foreign and security policy, although the proposal to invite Ukraine to associate with EU declarations on foreign and security issues is not mentioned in the action plan. The List implies giving a greater intensity to the process of deepening EU-Ukraine relations. On trade and economic relations, work on liberalisation of trade in steel products and textiles and contacts to enable Ukraine to be granted market economy status, will be “intensified”, the review of the possibility of free trade will be “accelerated”, and the EU will “step up” support to Ukraine for approximation to EU legislation. Other items on the List represent important concessions by the EU. While the action plan calls for “a constructive dialogue on visa facilitation…with a view to preparing for future negotiations on a visa facilitation agreement”, the List calls for consideration of options to facilitate the granting of visas in connection with “negotiations to be held…before the next EU-Ukraine summit”. Marius Vahl is a research fellow at the Centre for European Policy Studies (CEPS). www.ceps.be A commitment to the conclusion of a new upgraded agreement has been a key item on Ukraine’s wish list. In the first EU proposals in March 2003, full implementation of the existing Partnership and Co-operation Agreement (PCA) was considered a “necessary pre-condition for any new development”. Only then would the EU consider any new agreements that would build on and supplement existing contractual relations. But progress on some of these key issues depends on a number of specified conditions carried over from the action plan. “Early consultations” on a new enhanced agreement will thus take place only after the ‘“political priorities” of the action plan are addressed. The granting of market economy status needs a number of issues including price-formation and control of state aid in Ukraine to be resolved. As in the action plan, it is emphasised that progress in negotiations on a readmission agreement is “essential” for an agreement on visa facilitation. The List also uses language which implies that Ukraine is to become a priority for the EU. On the issue of people-to-people contacts, Ukraine is to be given “priority access” to the Erasmus Mundi student exchange programme and a special internship programme for young Ukrainians will be considered. Relations will be strengthened in key sectors through the establishment of a high-level energy dialogue, an upgrade of the environmental dialogue and by making Ukraine a priority in the planned extension of the Trans-European Networks. A similar conclusion can be drawn from the provision calling for up to é250 million in loans to be made available to Ukraine from the European Investment Bank (EIB). This constitutes half of the total EIB funding available to the members of the Commonwealth of Independent States (CIS). It represents a clear shift in EU priorities towards Ukraine and away from other CIS countries such as Russia, previously the only CIS country to receive EIB financing. In the wake of the Orange Revolution, Ukraine is not only catching up with Russia, but moving ahead in terms of its relationship with Brussels. The continued absence of agreement on a ‘Road Map’ for the four bilateral ‘common spaces’ to be developed between the EU and Russia – the equivalent of the action plan between Ukraine and the EU – further highlights this important development. Many in the EU conclude that this is a miserly response to the dramatic events in Ukraine in late 2004 and a new Ukrainian government determined to move towards EU membership. A majority within the EU, however, remains of the opinion that it is too early to acknowledge Ukraine’s membership aspirations. If the new Ukrainian government follows through on its planned reforms, this position is likely to become increasingly unsustainable. last_img read more

Pearson sells Economist stake for £469m

first_imgLONDON — Pearson has agreed to sell its 50 percent stake in The Economist in a £469 million deal that the magazine claims will guarantee its editorial independence.Italy’s Agnelli family will emerge as the largest shareholders with 43.4 percent of the Economist’s shares, it said in a statement Wednesday.However, a change in the company’s structure will limit the voting rights of any single shareholder to 20 percent. No shareholder will be able to own more than a 50 percent stake. Exor has been an “exemplary” shareholder since it began building a stake in the company six years ago, Pennant-Rea said. Before this deal, Exor owned 4.7 percent. John Elkann, the heir to the Agnelli fortune, sits on the magazine’s board.With its increased investment, Exor will nominate five of eleven board members, or six of thirteen if the board increases in size, and receive dividend income of around £18 million a year.Elkann, in a statement, said: “We have always admired the editorial integrity and thoroughly global outlook that are the hallmarks of The Economist’s success and we fully subscribe to its historic mission.”Editorial independenceAn Economist spokesman said the transaction will “safeguard the independence of the company and crucially, the editorial independence of The Economist.”That sentiment was echoed by the magazine’s five most recent editors, who said in a joint statement that they were satisfied its journalists would continue to be able to publish freely without corporate interference.“The proposed transaction announced today will, in our view, maintain and even strengthen the group’s constitution,” said Andrew Knight, Rupert Pennant-Rea, Bill Emmott, John Micklethwait and Minton Beddoes. Rothschild, whose family will get to appoint two Economist directors, said the shareholders’ priority was to ensure editorial independence. Operating without an outright owner, who could try to impose an editorial line, will make it virtually unique among major news organizations, she said.In weeks of talks between Pearson and other shareholders, Rothschild said, “There was some going back-and-forth about how to get there, but at the end of the day Exor and we really agreed that this was the best way to protect the independence of the paper, and also to be fair among all the shareholders. It was a good result.”The Rothschilds have been shareholders since 1929 and it is one of their most cherished investments.“The Economist is a privilege and it’s an obligation. It’s an honour,” Rothschild said. “The Economist means an enormous amount to the family. [Her husband Sir] Evelyn was chairman for many, many years. We’re very proud of the integrity of the newspaper, the role that it plays in the world. We feel like we’re guardians, with a very small g.”This article was updated to clarify the number of board members Exor will nominate. Also On POLITICO A Jersey Lady and The Economist By Alex Spence and Matthew Karnitschnig Pearson’s intention to sell the Economist stake, which it has held since it bought the Financial Times in 1957, was first reported by POLITICO last month. Claudio Aspesi, a media analyst at Bernstein, said Pearson’s investors would welcome the sale, as it would now be able to concentrate on its core education business.“The prices offered for both the FT and the stake in The Economist could not be refused,” Aspesi added.Exor, the Agnelli family’s investment company, will pay £287 million to buy much of Pearson’s stake.The Economist will itself buy 5 million shares from the British education group for £182 million. That will be partly funded by the sale of the magazine’s distinctive, modernist London headquarters in London, where its editorial team has been based since the 1960s. The building complex is estimated to be worth around £150 million.Rupert Pennant-Rea, the Economist’s chairman, said in a statement Wednesday: “We have been blessed over many years to have had in the Financial Times and subsequently Pearson, a shareholder that has understood and supported the ethos of the [magazine]. We all owe them a considerable debt.”The transaction has the full support of the Economist’s board, independent trustees and the editor, Zanny Minton Beddoes, he added. The Rothschild family, who were the largest shareholders other than Pearson, will see their holding increase from 21 percent to 26 percent.Lady Lynn de Rothschild, who represents the family’s interest on the board, said in an interview that the deal preserves the spirit of an agreement dating from 1929 that ensured ownership of the magazine would be balanced between the Financial Times —bought by Pearson in 1957 — and numerous independent shareholders including the Rothschild, Schroder and Cadbury families.“The concept is that we don’t want any one group controlling the Economist,” Rothschild said in an interview. “That’s the fundamental belief that we all have. We all believe that’s better for value creation.”She added: “[The Economist] has existed since 1843 and we should be having this conversation in 3043, that’s how good [the deal] is.”“We feel like we’re guardians, with a very small g” — Lady Lynn de RothschildWith the sale, Pearson divests another of its coveted media assets and moves closer to its goal of becoming strictly focused on the education business. Pearson has separately sold the Financial Times to Nikkei for £844 million.last_img read more

Paint Scheme Preview: Daytona 500

first_imgBUY TICKETS: See the Daytona 500 live! Paint scheme preview for the Daytona 500last_img

Star-studded Rolex 24 field includes greats throughout motorsports

first_imgDAYTONA BEACH, Fla. – The eyes of the racing world will be on Daytona International Speedway for the next day and a half, as a field of superstar drivers will take on America’s most prestigious 24-hour race, the Rolex 24 At Daytona.RELATED: Rolex 24 TV schedule | Allmendinger returns to Rolex | Scenes from DaytonaAs expected, the field includes the world’s best sports car racers. But the field also features a number of greats from other forms of the sport as well, including Formula 1, NASCAR and IndyCar. Here’s a quick look:Active Formula 1 Drivers (2):Fernando Alonso (two-time World Champion, 32 career Grand Prix victories)Lance Stroll (20 career Grand Prix starts)Monster Energy NASCAR Cup Series Race Winners (2):Juan Pablo Montoya (2 career victories)A.J. Allmendinger (1 career victory)Indianapolis 500 Winners (4):Helio Castroneves (3 victories)Juan Pablo Montoya (2 victories)Ryan Hunter-Reay (1 victory)Scott Dixon (1 victory)IndyCar Series Champions (4):Scott Dixon (4 championships)Juan Pablo Montoya (1 championship)Ryan Hunter-Reay (1 championship)Simon Pagenaud (1 championship)In addition, the field include 14 drivers who have won at least one IndyCar race, more than 30 drivers who have won the 24 Hours of Le Mans, and nine drivers who started the 2017 Indianapolis 500.Live television coverage of the Rolex 24 At Daytona begins in the U.S. on FOX at 2 p.m. ET, with complete streaming for 25 consecutive hours available on the FOX Sports GO app. IMSA Radio, in-car cameras and live Timing & Scoring are available on IMSA.com. IMSA Radio also will be broadcast via SiriusXM (Sirius Channel 138/XM 202/Internet App Channel 972).last_img read more

Kyle Busch sweeps stages to win Strat 200 at Las Vegas

first_imgLAS VEGAS – Little would make Kyle Busch happier than a three-race weekend sweep in his hometown. The driver of the No. 51 Toyota took the first step on Friday night, winning the Strat 200 NASCAR Gander Outdoors Truck Series race at Las Vegas Motor Speedway.For the second straight week, Busch swept both preliminary stages before taking the checkered flag. In his 2019 series debut last Friday at Atlanta, Busch broke a tie with NASCAR Hall of Famer Ron Hornaday Jr. for most career victories. On Friday, he extended the record to 53.RELATED: Official race results Despite leading 111-of-134 laps, Busch complained of a tight handling condition throughout much of the race.“We fought it in practice a little bit,” said Busch, who now has 196 victories across all three of NASCAR’s national series combined. “We worked on it an awful lot to make it better. (Crew chief) Rudy (Fugle) and these guys did an amazing job on this Cessna Tundra. It was really, really fast. Just kept working on it all night long – every pit stop.“It’s cool to win here in your hometown, being in Las Vegas, starting off a triple weekend. Hopefully, we can keep it going.”Busch, who finished 1.211 seconds ahead of runner-up and reigning series champion Brett Moffitt, will compete in Saturday’s Boyd Gaming 300 Xfinity Series race before trying for his second Monster Energy NASCAR Cup Series win at Las Vegas on Sunday.Busch already has two weekend sweeps to his credit, both at Bristol Motor Speedway, in 2010 and 2017.RELATED: All-time NASCAR national series winsMoffitt had one shot at Busch in the closing laps after gaining ground on the race winner during the last cycle of pit stops. When Busch came to pit road under green on Lap 114, four laps after Moffitt, he lost most of a three-second lead as Moffitt ran those four extra laps with new right-side tires.Moffitt got close to Busch’s rear bumper on Lap 119, but his No. 24 GMS Racing Chevrolet got loose behind the No. 51 Toyota and fell back. Nevertheless, the second-place finish was a victory of sorts for Moffitt, who recovered from a pit road mistake – the rear air gun hose was trapped beneath the rear tire during a stop under caution on Lap 33 – and worked his way back through the field.“We had to use our stuff up getting back to the front – another pit road mistake,” Moffitt said. “I had one chance to get to (Busch’s) bumper. I knew it was going to be a make-or-break move. Unfortunately, it was ‘break.’” Matt Crafton rallied from early rear end damage to run third. Stewart Friesen, who battled Busch during the second stage and led 20 laps, finished fourth, followed by Harrison Burton. Sheldon Creed, Todd Gilliland, Johnny Sauter, Ryan Reed and Ross Chastain completed the top 10.last_img read more

Renovations ‘go green’ in Madeleva

first_imgIn an age of environmental awareness, Saint Mary’s has been making efforts to create an environmentally friendly campus through this year’s new renovations. Madeleva has served as a classroom and office building for students, faculty and staff of Saint Mary’s since the 1960s. With the preparation and hard work of Bill Hambling, director of facilities at the College, his maintenance team and Arkos Design of Mishawaka, Madeleva will show off its new look by next summer.  The project was funded by a bond issued through the city of South Bend and will not affect operating capital, so it will not be in competition with any academic funding, Hambling said.  “It’s a lot of windows, so it’s a lot of work,” he said, “but it’s how we reduce our carbon footprint. We want the building looking fresh, clean and excited again; it will look youthful, just like our students.” This two-phase project began this past summer by replacing the energy inefficient windows surrounding the building with Low-E windows.  Thenew energy efficient windows will allow more light to enter the building, making the classrooms and offices seem more spacious, Hambling said. “The windows are made from all green material and will reduce the heat of the building, specifically in the warmer months, by nearly 30 degrees; saving the school a great deal on air conditioning costs,” he said Monday marked the start of the replacement windows on the panel curtain wall that faces the courtyard. They will be completed over the next four to five weeks, Hambling said. Another important aspect of this first phase of renovations is the removal of the “zippered” bricks that run vertically on all sides of the building.  “Over the last few decades, the layout of these bricks has allowed moisture and insects to enter through cracks, ruining the exterior walls,” Hambling said. “The vines covering the building have also been removed. They had started to grow through holes in the brick walls and began to enter classrooms, causing further damage to be done. These renovated window systems will also be constructed of all eco-friendly materials.” Hambling said the second phase of the operation will be the completion of the window replacements on the on the opposite side of the panel curtain wall and the remaining sides of the building.  “The area surrounding the building has also experienced some revisions. The maintenance and grounds crew have made great efforts to revitalize the growth of grass around the building,” Hambling said. “Lilac bushes have also been planted along the driveway leading up to the front of Madeleva, and should be in full bloom by spring 2013.” Hambling added that the College will continue to experience many other green renovations under his direction in the year to come.last_img read more