Confirmed coronavirus cases in Indiana up to 19

first_img Google+ Twitter WhatsApp (Photo supplied/Indiana State Department of Health) he Indiana State Department of Health reports that Indiana is now up to 19 positive cases of the coronavirus.The list of the counties with confirmed cases are:Adams – 1Boone – 1Hamilton – 1Hendricks – 2Howard – 1Johnson – 3LaPorte – 1Marion – 6Noble – 1St. Joseph – 1Wells – 1Most of the confirmed cases are in central Indiana and most patients are adults, as of Sunday, March 15.The Indiana State Department of Health said Sunday that the new COVID-19 cases involve residents of Hamilton and Marion counties.For most people, the new coronavirus causes only mild or moderate symptoms, such as fever and cough.Widespread closures are continuing in an effort to slow down the spread.Officials in Delaware County announced Sunday that the prosecutor’s office will be closed to the public starting Monday.The Associated Press contributed to this story. Twitter CoronavirusIndianaLocalNews Pinterest Google+ Facebook WhatsApp By 95.3 MNC – March 15, 2020 0 655 Confirmed coronavirus cases in Indiana up to 19 Facebook Pinterest Previous articleAttention Walmart customers: Stores no longer open 24 hours a dayNext articleUPDATE: Local schools respond to coronavirus fears 95.3 MNCNews/Talk 95.3 Michiana’s News Channel is your breaking news and weather station for northern Indiana and southwestern Michigan.last_img read more

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Ham Radio Operators Tune In For 2016 Field Day

first_imgStory and photos by Jay CookTHE GARDEN STATE Amateur Radio Association joined thousands of amateur radio operators on the airwaves for the 2016 American Radio Relay League’s Field Day.Otherwise known as hams, these amateur radio operators are licensed through the FCC and follow strict guidelines in how they operate, the quality of their transmissions and the language used over the air. Specific to the GSARA, club members come from all over Monmouth County, from towns such as Red Bank and Ocean.Held at the American Red Cross building in Tinton Falls, also the headquarters for W2GSA – the club’s specific call-sign – the 24-hour event was used to showcase capabilities out in the field and in the elements. Field Day began on Saturday, June 25 at 2 p.m. and lasted until 2 p.m. the next day. Club members took shifts working the radios, either during the day or through the night.“We get about 3,000 stations all across the country, all set up this weekend doing exactly what we’re doing and trying to contact other stations,” said Frank Wroblewski, former president of GSARA.Field Day is the busiest day on a ham’s calendar. Hundreds of contacts are made from around the U.S and Canada, along with other hams tuning in from foreign countries, such as South Africa or Italy.The event is set up like a contest. Clubs receive points throughout the weekend which are tallied up once Field Day has concluded. Points can be accumulated in various ways: by the number of contacts made throughout the weekend, by promoting the event through social media and through usage of ham radios powered by alternative energy sources, to name a few. Wroblewski showcased the latter skill this year. “This is a solar station I have here,” he said. “A solar cell that’s charging this battery, and the battery is running this radio, and I connect to the antenna.”No bigger than a 15-inch MacBook, the cell brings in enough power to push frequencies throughout the continental 48 states. “Since we’re only talking the United States, I guess the furthest probably would be Washington State, west coast,” he said.A basic ham radio setup, found inside the GSARA’s communications center.All in all, Wroblewski’s solar-powered setup fit comfortably on the picnic table behind the warehouse. Adjacent to him, situated on the side yard was another outdoor station collecting contacts.“My dad was a ham radio operator and he got me interested, so it was kind of natural that I would just fall into it,” said Cy Stanway, a licensed ham radio operator of 41 years.Stanway appreciated the fortunate weather for this year’s Field Day, as his tent and equipment were almost fully soaked in last year’s event. A steady downpour ended up displacing nearly three inches of water at his feet, which made for a challenging weekend.“There’s the emergency component and the public service component,” he said. “Field Day is supposed to highlight the emergency component, so you can go out in less than ideal conditions.”While the weather is hit-or-miss outside, the environment inside is cool and controlled. Positioned beside mountains of stacked water bottles and other disaster relief equipment, the GSARA placed in the Red Cross warehouse. Through a door labeled “Disaster Communications: Authorized Personnel Only” sits a collection of ham radios ready for use at a moment’s notice.Five separate stations can be found through those doors. Hooked up to computers, communications can be received either through Morse Code or phone conversations. In a time of crisis, the ham radios could be utilized for sustaining broadcasts with neighboring counties or towns while cell phone and landline networks are reestablished.“We operate as an alternate EOC, emergency operations center,” said Howard Suffill, second-year president of GSARA.Suffill knows a thing or two about working in emergency situations. After upgrading his ham radio license in 2005, he traveled to Jackson County, Mississippi after Hurricane Katrina made landfall. Under his own accord, he drove south in his van to lend a helping hand. “We stayed there for a little over a week and operated,” he said. “Not typically out of my van , I was at an EOC in Jackson County.”The Red Cross in Tinton Falls also saw usage during major storms, notably Hurricane Irene and Super Storm Sandy. Suffill pointed to the importance of ham radios during times of emergency, saying that “usually in the first stages, the first 24-48 hours, it’s more us, a lot of times, until the other technology gets put into place.”ARRL’s sponsored Field Day is annually held during the last week of June. GSARA, which was founded in 1950, meets the first and third Wednesday of each month at 7:30 p.m. at the Tinton Falls Red Cross location. For additional information about GSARA or the hobby of ham radio operating, visit gardenstateara.wordpress.com.last_img read more

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THE MULLADUFF BAND PLAY THE GENERATIONS GAME!

first_imgThe Old Mulladuff Band can certainly count on tradition.Last Sunday no less than four generations of the same family played in Annagry. James Bonner, his son Hugh with his son Conal, his daughter Pauline Bonner Sweeney with her daughters Alanna and Bronagh and Allana’s son Ultan made it a real family occasion.And throw in their Cousin Paddy Bán for good measure standing in the background and it gets even bigger.It certainly prtoved a very proud day for James with his son, daughter, his grandchildren and great grandson in the band.THE MULLADUFF BAND PLAY THE GENERATIONS GAME! was last modified: April 22nd, 2014 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:AnnagryBonnersMulladuff Bandlast_img read more

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‘Enough is enough’ – Letterkenny health staff take strike action

first_imgFour hundred health support staff are striking at Letterkenny University Hospital today in a dispute between SIPTU members and the HSE over job evaluation. Significant disruption is expected at the hospital as staff from a wide range of roles take part in a 24 work stoppage. The strike began at 8am and there is a lot of activity around LUH as workers take to the picket line.SIPTU Health Support Staff strike at Letterkenny University Hospital, 26th June 2019. Photo Rachel McLaughlin“All we are looking for is job evaluation and appreciation of our work status,” says Terry Brady, who has worked at LUH for 18 years. Terry Brady at the SIPTU Health Support Staff strike at Letterkenny University Hospital, 26th June 2019. Photo Rachel McLaughlinSIPTU Health Division Organiser Ciaran Sheridan, who joined the strike, said it was regrettable that staff were out today. “We have significant numbers this morning and support has been amazing,” Mr Sheridan said.“The main reason we are striking today is for respect for workers.”SIPTU Health Division Organiser Ciaran Sheridan at Letterkenny University Hospital, 26th June 2019. Photo Rachel McLaughlinMr Sheridan explained the reason for the strike: “We can go back four years to 2015, with the reintroduction of the job evaluation scheme. We had a disagreement in 2016, ultimately we reached a resolution with the government when we appointed independent people to come in and do an assessment and put a value on the work of our members.  “Fast forward to October 2018, phase one and two of that was completed, that is healthcare assistants, theatre operatives, physio aids and CSSD (Central Sterile Services). A rebanding for those grades was recommended.“We entered this with no guarantees. The HSE accepted it, the Department of Health accepted it, so we look for implementation. “Unfortunately Paschal Donohoe and the Department say basically we acknowledge the agreement, we’ll consider it in 2021. That’s unacceptable. We have tried to engage and deal with it respectfully. We don’t want to be out on strike. But we have been absolutely forced into it.”SIPTU Health Support Staff strike at Letterkenny University Hospital, 26th June 2019. Photo Rachel McLaughlinMs Brady, who works in Medical Rehab, says her role has changed a lot over the years.“We have more responsibilities, we do a lot more patient care. Mainly, a lot of the day would be our patient care and their needs. With patient care a priority of all healthcare workers, Ms Brady said they had been hoping that the dispute wouldn’t come to a strike. “We were hoping it wouldn’t come to this, but unfortunately it has. Enough is enough. We can’t take any more. We want to be valued in our work.”SIPTU Health Support Staff strike at Letterkenny University Hospital, 26th June 2019. Photo Rachel McLaughlinSIPTU Health Support Staff strike at Letterkenny University Hospital, 26th June 2019. Photo Rachel McLaughlinSpeaking from the picket line, Ms Brady added: “The public are well behind us.”Today’s strike involves up to 10,000 SIPTU members across Ireland who provide portering, household and catering services and employed as Health Care Assistants, Maternity Care Assistants, Laboratory Aides, Chefs and Surgical Instrument Technicians. Some procedures, appointments and Outpatient Clinics have been cancelled, with patients being notified directly.The Emergency Department at LUH is open but patients are warned to expect significant delays. The latest INMO Trolley Watch report from Letterkenny shows that 24 patients are awaiting admission at the ED this morning.SIPTU Health Support Staff strike at Letterkenny University Hospital, 26th June 2019. Photo Rachel McLaughlinSIPTU Health Support Staff strike at Letterkenny University Hospital, 26th June 2019. Photo Rachel McLaughlinCritical care areas such as ICU and HDU will function as normal. Chemotherapy treatment and dialysis will proceed as scheduled across the Group.There will be reduced or very limited catering services for both patients and staff in some hospitals in the Saolta Group today.If no resolution is found in the SIPTU dispute this week, the union has planned for three more back-to-back strikes next Tuesday, Wednesday and Thursday.‘Enough is enough’ – Letterkenny health staff take strike action was last modified: June 27th, 2019 by Rachel McLaughlinShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:HSELetterkenny University HospitalSIPTUstrikelast_img read more

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Thermodynamics: The Real Theory of Everything

first_imgNeed a theory of everything?  Try thermodynamics.  Mark Haw reviewed a new book by Peter Atkins on the subject in Nature,1 Four Laws that Drive the Universe (Oxford, 2007).  He had high praise for the achievements of the “19th century grandees” Joule, Maxwell and Kelvin:Thermodynamics ought to be the cornerstone of any scientist’s understanding of nature.  Forget superstrings and grand unified theories: thermodynamics is the original ‘theory of everything’.  Or perhaps the ‘theory of what everything does and how it does it’.  Thermodynamics explains the transformation of energy, and nothing happens without that.Though it is impossible to really know thermodynamic theory without mathematics, Haw appreciated the way Atkins conveyed a deep understanding of its concepts without a single equation.  How could any scientist omit learning about such fundamental concepts?The development of thermodynamics in the nineteenth century was the most wide-reaching and fundamental advance since Newton’s mechanics.  It underpinned (albeit some time after the event) the Industrial Revolution, and led the way to statistical mechanics (and hence to statistical quantum mechanics) and to an understanding of phase behaviour, chemical reactions, the astrophysics of stars…to everything, in other words.Or, almost everything.  Haw’s only complaint was that Atkins stopped at the end of the 19th century.  20th century discoveries at the microscopic and nanoscopic levels have been profound.  Now we know that understanding proteins is the key to progress:Proteins do the same job for life that steam engines did for Victorian industry.  Unlike a railway engine, however, the cell is a profoundly non-equilibrium place.  And proteins are not isolated but inextricably bound to the world around them, inescapably prey to brownian motion.Thermodynamics, therefore, is not a dead science.  Much work needs to be done.  There’s a revolution awaiting in the thermodynamics of the cell:Understanding the microscopic, non-equilibrium, open-system thermodynamics of these ‘life engines’ could usher in fascinating discoveries: how life works as a physical process, how we might borrow life’s technology to make our own nanoengines, and how we might transform medicine by replacing broad-spectrum chemical cocktails with medical engineering of proteins.  All this requires twenty-first-century developments in thermodynamics that are no less revolutionary than the nineteenth-century theory.Haw noted that 2007 is the centenary of the death of the great pioneer of thermodynamics, Lord Kelvin.1Mark Haw, “The real ‘theory of everything’,” Nature 449, 286 (20 September 2007) | doi:10.1038/449286a.Sounds like an interesting book.  Good to see the three great Christian physicists of the 19th century still acknowledged as grandees, as indeed they were (read their stories in our online book).  Why do we need a theory of everything (T.O.E.) when we already have one?  Hawking, Susskind et al want to blend quantum mechanics, gravity and dark stuff into their Big T.O.E., but they cannot stub the T.O.E. we already have without pain (08/13/2002).    Budding scientists should stand on the shoulders of giants and learn thermodynamics.  The 4 Laws of TD, especially the first two, show that mass-energy cannot be created or destroyed, and that energy becomes less available to do work over time (law of entropy).  These laws spell doom for theories of evolution (12/30/2005), because they show that the universe is aging and winding down, not progressing (06/08/2005).  Don’t expect Darwinists to find an escape clause in nanoscopic, non-equilibrium situations (07/05/2003).  The kind of order that they need will not come from mechanical laws (10/27/2005, 07/17/2002).  It’s not just order they need: it’s information (12/30/2003).    If the future lies in understanding the thermodynamics of the cell, and if there are as many revolutionary inventions waiting to be discovered as Haw said by imitating cellular machines, then this may be a great field for a young physicist or medical researcher to enter.  Who will become the next Joule, Maxwell or Kelvin?(Visited 127 times, 1 visits today)FacebookTwitterPinterestSave分享0last_img read more

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How to Build a ‘Perfect Wall’

first_imgSorry, this wall system isn’t ‘perfect’For starters, Brett Moyer points out, there are three problems with the wall system Homoly is proposing, leaving it something short of perfect. He cites these shortcomings:â— There is “zero moisture buffering capacity.”â— The Zip System is expensive and unlike more traditional methods it relies on tape rather than overlapping layers of material to keep moisture out of the wall. Further, Huber hasn’t revealed what the perm rating of the material is.â— There’s no need to use petrochemical foam where it isn’t needed.Moyer seconds a suggestion from Armando Cobo, who recommends cellulose insulation in the wall cavities rather than foam. As does David Meiland, who says he sees “very little benefit to the foam, especially low-R-value open cell, with a lot of risk and cost if/when something gets wet.”Cobo’s recommended wall would include a weather-resistant barrier (WRB) over the sheathing, then the windows, the rigid foam, a ventilated rainscreen and then the wall cladding. Or, Moyer adds, Homoly could save money and eliminate the flashing issues by using a double wall or a Larsen truss; either system can defeat thermal bridging in the same way that rigid foam does. Where Does the Housewrap Go?Nailing Window Flanges Through FoamFastening Furring Strips to a Foam-Sheathed Wall RELATED MULTIMEDIA PODCAST: The Perfect Wall, Roof, and Slab Why is cellulose better than foam?Homoly, however, isn’t ready to abandon ship on the foam.“It seems to me spraying a wet substance into a wall is just a bad idea in general,” he writes. “Surely the wall insulation will settle over time leaving gaps at the top (physics working against it). It won’t be able to fill cavities like an expanding foam. I would think newspaper will mold if it gets wet.”Open-cell foam, on the other hand, seals cavities more effectively, repels water, and will permit drying if the wall gets wet, Homoly says. Although it doesn’t have the high R-values that closed-cell foam has, it’s more forgiving. “I would certainly pick cellulose over batts,” he adds, “but not over foam.”Cellulose is preferable for a number of reasons, Cobo replies. It has a much lower global-warming impact than foam, should not settle if installed correctly, and it’s cheaper. In addition, cellulose can absorb some moisture at times of high humidity and release it when the air dries out.Although foam makes sense in some situations — at the hard-to-insulate connection between floor joists and rim joist, for example — it’s not the best choice every time.Further, Cobo says, the 1 1/2 in. of rigid foam Homoly is planning is a minimum; 2 in. would be better for the Kansas City climate. “The rigid foam outside of the sheathing and on top of the roof decking for a conditioned attic is for thermal bridging and to keep condensation to build on the inside of the wall and roof sheathing,” Cobo writes. “You also should install your wall and ceiling sheetrock with an Airtight Drywall Approach or ADA.” CONSTRUCTION DETAILS Flashing/Window Installations Andrew Homoly is building a house in Kansas City, Missouri, and plans to use a “perfect wall” system consisting of 2×6 studs, Icynene open-cell foam insulation and an additional 1 1/2-in. layer of rigid foam on the building’s exterior.His question in this Q&A post at GreenBuildingAdvisor concerns the best way to install window and door flashing, and where to install housewrap.“Should the window flanges go over the foam at the window openings or should you line the window openings with a 2×4 so the window can be mounted into a solid piece of wood?” Homoly asks. “This would provide a more stable connection, but negates the benefit of the thermal bridging provided by the foam.”Homoly is planning on using Huber’s Zip wall system under the rigid foam, and applying housewrap over the foam, an approach he recognizes as “a bit overkill” but reassuringly redundant.The debate over how best to attach and flash windows in walls with exterior foam has been going on for years. What does the forum have to say? That’s the topic for this week’s Q&A Spotlight. Attaching windows and sidingOne of the reasons Homoly isn’t eager to increase foam thickness is the difficulty of attaching siding, shingles, and trim. “I could see siding and shingles flying off much easier in high winds (I am in tornado alley),” he writes. “Unless there is some kind of excellent new technique for attachments through this amount of foam, I don’t feel comfortable beyond 1.5 in.”Cobo wonders whether an engineer’s report would be required for attaching Hardie fiber-cement siding through foam any thicker than 1 inch. But GBA senior editor Martin Holladay assures him that the calculations for attaching furring to foam up to 4 in. thick have already been published by FastenMaster. “I think your worries are baseless,” he says.As for installing windows in a wall sheathed with rigid foam insulation, Holladay points to several articles he’s written on the topic. They explain how windows can be installed in the same plane as the back of the siding (“outies”) or in the same plane as the sheathing (“innies”). Both methods can work, and Holladay offers step-by-step instructions in a related blog. Video: Superinsulating a Home with Rigid Foam RELATED ARTICLES Our expert’s opinionWe asked GBA advisor Michael Chandler for his take on this question. Here’s his response:The important thing here is for Andrew to feel comfortable in his house. If he intuitively feels that more than 1 1/2 in. of foam would leave him vulnerable to wind damage, then he should stay with a system that makes him feel comfortable. But in my opinion, he should think through a few other issues.First, he doesn’t need to provide more than 1 1/2 in. of attachment for his window’s nailing flanges, so “outie” windows can hang on 2x2s screwed to the sheathing. Doing this doesn’t “negate” the thermal break at all the studs and rim joists, and you already have the thermal break of the window frame that you are accepting as part of the cost of the solar gain and daylighting.But if he is planning on wrapping the house with OSB, then I would recommend that he question the Huber ZIP and just use regular OSB and housewrap, nail the window flanges to the OSB, and do the regular housewrap detail. Then he can build up exterior jamb extensions and run the foam and tape those seams if he likes — or not. That’s much easier than using flex wrap to get out onto those 2x2s.As for the foam versus cellulose isse, I think it’s a good idea to question spray foam in this assembly. But damp-spray cellulose isn’t the only alternative. You can also do a blown-in-batt approach with a scrim and dense-packed (dry) cellulose or dense-packed (dry) Spider micro-filament fiberglass, either of which has the same R-value as open-cell foam.I prefer the Spider because it doesn’t hold water in the event of a bulk water leak (I’m in hurricane alley, so I relate). At Johns Manville’s Spider website they are all about promoting their damp-spray application but the scrim and dense-packed Spider is cheaper and better in my opinion.Finally, I’m a big fan of double-wall construction. it’s surprisingly inexpensive, storm-worthy, and I think it would be good for your locale. But the extra-thick walls are an acquired taste aesthetically, and if that’s not your thing, the 2x6s with 1 1/2 in. of foam and “innie” windows is a great, if perhaps not perfect, solution.last_img read more

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How to Create a Glass Effect in Adobe After Effects

first_imgCreate a translucent glass effect using only the built-in tools in After Effects. No third-party plugins or filters required!The always excellent Andrew Kramer from Video Copilot has released a tutorial on creating a translucent glass effect in Adobe After Effects. The slick effect is perfect for a film or video intro!The tutorial can be completed with all the tools that come with After Effects, so you won’t need to have a speciality (read: expensive) plugin to pull off the effect. Here’s the AE glass effect in its finished form.Modify the look to get a fogged look or create an effect that makes the camera seem like it’s “seeing” through a glass window. Kramer utilizes the AE camera to give the glass animation motion and depth. The final effect is a cold, icy animation that would be right at home in a horror or mystery project. And be sure to check out Video Copilot for more great AE tutorials. Here’s the After Effects glass effect tutorial in all its glory.If you’re looking for more After Effects action, take a minute to browse PremiumBeat’s AE archives. You’ll definitely find something helpful and cool.last_img read more

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10 months agoREVEALED: Why Klopp and Liverpool passed on Pulisic

first_imgREVEALED: Why Klopp and Liverpool passed on Pulisicby Paul Vegas10 months agoSend to a friendShare the loveLiverpool boss Jurgen Klopp chose to pass on signing Christian Pulisic due to the form of Xherdan Shaqiri.Chelsea have signed the Borussia Dortmund winger for £58m in the last 24 hours.And the Liverpool Echo says the reality is that Liverpool haven’t seriously considered a move for Pulisic since they bought Shaqiri for £12.5million last summer.The Swiss attacker was the Pulisic alternative and he was snapped up at an absolute bargain price. Shaqiri has proved to be a massive hit at Anfield. The 27-year-old has only started 11 matches for the Reds but has already chipped in with six goals, including a match-winning double against Manchester United.Pulisic is still more potential than proven quality having scored 15 goals in 115 games for Dortmund. He has only netted three times in 18 club appearances so far this term.The size of the fee was also prohibitive. Liverpool wouldn’t buy a squad player for £58million and they certainly wouldn’t pay that for a squad player who had less than 18 months remaining on his contract. TagsTransfersAbout the authorPaul VegasShare the loveHave your saylast_img read more

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a month agoEverton boss Marco Silva annoyed after Bournemouth loss

first_imgEverton boss Marco Silva annoyed after Bournemouth lossby Freddie Taylora month agoSend to a friendShare the loveEverton boss Marco Silva was annoyed with his defence in Sunday’s 3-1 loss to Bournemouth.Callum Wilson stole the show with a barnstorming double at Vitality Stadium, which was sandwiched in between goals from Dominic Calvert-Lewin and Ryan Fraser.”It’s a disappointing result, of course. We didn’t deserve more after the mistakes,” admitted Silva. “We conceded the three goals so easy. I don’t want to take away the credit from Bournemouth but it was our fault. We had good offensive moments in the game but the way we conceded the goals made a big impact.”We reacted well to their first goal. We started the second half doing what we planned, creating dangerous chances around their box but then they scored from one mistake from a set piece and were clinical.”We have to become again that solid team that we were towards the end of last season and at the start of the season when we had 10 clean sheets in 13 games. We created chances and should have scored more but when you defend like that you are not going to win the game.”It was a lack of focus. We addressed these type of moments last season. We were solid at the start of this season and we need to be more solid again. It’s something we must address as fast as we can. We’ve been a solid team before and I don’t see any reasons why we can’t be again.”Last season we improved our away form from the season before but we want to do better than that. We created problems for them, created spaces but conceding goals like that makes you lose confidence.” About the authorFreddie TaylorShare the loveHave your saylast_img read more

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NORDLB Sells USD 3 Bn Ship Portfolio

first_imgzoomIllustration. Image Courtesy: Pixabay under CC0 Creative Commons license Germany’s Norddeutsche Landesbank (NORD/LB) has decided to sell one of its ship financing portfolios to an unnamed investor for around EUR 2.7 billion (USD 3.09 billion). As informed, the portfolio comprises a total of 263 ships with a non-performing loan (NPL) portion of some 90%.What is more, the bank’s NPL portfolio, which groups together the legacy problem assets from ship financing, should be almost completely run off by the end of 2019, as disclosed by Thomas Bürkle, Chairman of NORD/LB.According to NORD/LB, the transaction including 263 ships was preceded by a confidential bidding process which was carried out separately and independently from the bidding process for a minority stake in NORD/LB. The bidding process was launched in autumn 2018 as part of the bank’s transformation program.To remind, World Maritime News recently reported that two equity investors, Cerberus Capital Management and Centerbridge Partners, submitted a joint offer to buy a 24.9 stake each in the bank.However, the bank has rejected their offer and decided to focus on a joint solution with the German Savings Banks Association (DSGV) under public law. DSGV and the owners of the bank, Lower Saxony and Saxony-Anhalt, will inject fresh capital into NORD/LB.“With the model decided upon on Thursday, we now have a concrete solution for a joint capital strengthening of the bank by the DSGV and the owners of the bank.  When this solution is implemented, the bank’s capital ratios will rise again tangibly, thus meeting all requirements under supervisory law,” the bank said in a statement.last_img read more

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