The Glencore share price is down 36%! Is it worth buying?

first_img I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Anna Sokolidou does not have any position in any of the shares mentioned in this article. The Motley Fool UK owns shares of and has recommended Tesla. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Image source: Getty Images. See all posts by Anna Sokolidou Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Our 6 ‘Best Buys Now’ Shares The Glencore share price is down 36%! Is it worth buying? Enter Your Email Addresscenter_img The Glencore (LSE:GLEN) share price dropped dramatically because of the Covid-19 pandemic. But could the mining company’s stock fully recover and make its holders rich?   Glencore share priceGlencore specialises in the mining of cobalt, nickel, copper, zinc, lead, aluminium, gold, and silver. It also extracts oil and gas. As we all know, due to the coronavirus outbreak, lockdowns, and resulting recession, there has been quite low demand for natural resources. 5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…So, the commodities producers have been on sale for a while. Even though Glencore’s stock has recently seen some upsurge, it is still more than a third below the January levels.  The company’s newsTesla, an overhyped American car maker, is increasing its electric vehicle (EV) production. To do so, Tesla needs to buy cobalt, a material essential for making batteries. It signed a contract with Glencore to supply this material. But the good news for the mining company does not end here.Growing consumer interest in environmental issues has prompted many other car producers, including BMW, start producing electric vehicles. In order to do so, they also need cobalt. But this material isn’t just used for producing EVs, it is also needed by companies producing laptops and smartphones. So, Glencore is in an excellent position, since it is the leader in mining this material. However, investors should be aware of the reputational risks linked to Glencore’s cobalt production. The problem is that most cobalt comes from Congo, where child labour is used. In December 2019, the mining company even had to issue a news release saying that it did not use any forms of child labour. Is Glencore worth investors’ attention?The 2019 results were not amazing for Glencore. The mining company reported its first annual net loss in five years. Remember that there was no coronavirus lockdown in 2019. As my colleague Alan Oscroft very correctly pointed out in his February article, a couple of tough years might be ahead for Glencore. It really looks so, since the Covid-19 pandemic appears to particularly harmful to natural resources companies.In terms of dividends, it seems that the company won’t be able to announce or pay any new dividends this year and will instead try to conserve cash. So, its attractive dividend yield of over 11% it not sustainable after all.Glencore still has an investment-grade credit rating. Moody’s rates the mining company as Baa1, or lower investment grade. However, the agency noted that the company borrowed heavily in 2019 when commodity prices were quite low. At the same time, Glencore paid its shareholders substantial dividends, thus decreasing its free cash flow. Covid-19 has made the situation much worse. But Moody’s still thinks that Glencore will be cash positive in 2020 because probably not paying dividends. Since the pandemic crashed many developing countries’ currencies, some of Glencore’s costs went down too. This is because the mining company operates in these countries and has to export the commodities elsewhere.    Although Glencore could be worth buying for patient investors, I think that there are still better alternatives in the mining industry and other sectors. “This Stock Could Be Like Buying Amazon in 1997” Simply click below to discover how you can take advantage of this. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Anna Sokolidou | Friday, 19th June, 2020 | More on: GLEN I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool.last_img read more

Wales avenge heavy loss by beating Ireland in Dublin RWC warmup

first_imgMonday Aug 31, 2015 Wales avenge heavy loss by beating Ireland in Dublin RWC warmup Ireland came within inches of beating Wales in the closing minutes of a tense Rugby World Cup warmup game in Dublin on Saturday. Wales coach Warren Gatland has since praised tryscorer Justin Tipuric, who contributed to the 16-10 victory. Both sides scored a try apiece but it was the boot of Leigh Halfpenny, and a late try-saving effort, that kept Wales in front, giving them a much needed boost ahead of the tournament.The Wales World Cup squad will be announced shortly, and Gatland is aware that he has some tough choices to make, particularly around the loose forwards, where he is spoiled for choice.“We’re blessed to have two world-class sevens,” Gatland said. “We know what a good footballer Tipuric is when he appears in the wide channels, but sometimes it’s that physicality and competing on the ball [that he has lacked].“But today he was just brilliant and he was a nuisance and just a proper seven, so we’re very lucky to have the quality we’ve got. It was probably the best performance I’ve seen from him in a big match in the Welsh jersey.”Regular skipper and number seven Sam Warburton missed the game as a precaution, following a slight shoulder injury he picked up in training. As Halfpenny showed how valuable a top notch kicker can be in big game rugby, it was his effort over the line on full time that helped towards preventing Sean Cronin from scoring what would have been a potentially match winning try under the sticks. If you missed it, you can watch highlights below and the full match on page twoADVERTISEMENT Posted By: rugbydump Share Send Thanks Sorry there has been an error Ireland , Wales Related Articles 27 WEEKS AGO IRFU back South African teams to join expanded… 29 WEEKS AGO James Lowe impresses with all-round performance… 43 WEEKS AGO De Allende back to full fitness ahead of… From the WebThis Video Will Soon Be Banned. Watch Before It’s DeletedSecrets RevealedUrologists Stunned: Forget the Blue Pill, This “Fixes” Your EDSmart Life ReportsYou Won’t Believe What the World’s Most Beautiful Girl Looks Like TodayNueeyWrinkle Remedy Stuns TV Judges: Forget Surgery, Do This Once DailySmart Life ReportsIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier Living30+ Everyday Items With A Secret Hidden PurposeNueeyThe 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 InterestedOffensiveRepetitiveSubmitCancellast_img read more

Progressive athletes won’t be silenced no matter the generation

first_imgJohn Carlos & Tommie Smith with statues of their 1968 protestSimone BilesRace Imboden kneelsKenny StillsColin KaepernickMuhammad Ali & Malcolm X1234567


At the height of the Black Liberation Movement in the U.S., in the late 1960s and early 1970s, African-American athletes not only performed on an elite level in their individual sports, they were also politically outspoken on important social issues. The great heavyweight boxer, Muhammad Ali, and amazing sprinters Tommie Smith and John Carlos helped to pave the way during this electrifying period. Ali refused to be drafted into the U.S. Army, as he was a conscientious objector. He virtually became an anti-war activist by opposing an imperialist war against the Vietnamese people due to his religious beliefs as an avowed Muslim. He publicly stated, “I ain’t got no quarrel with them Vietcong” and “No Vietcong ever called me ni–er.” Ali also declared, “Why should they ask me to put on a uniform and go 10,000 miles from home and drop bombs and bullets on brown people in Vietnam after so-called Negro people in Louisville are treated like dogs and denied simple human rights?” (New York Times, June 27, 2017) His words resonated around the world. Refusing to comply with the draft carried a 5-year prison term and a $10,000 fine. The prison term was suspended for Ali, but this did not stop the New York State Athletic Commission and the World Boxing Association from stripping his world heavyweight title in 1967 and, therefore, stopping his right to box. Ali, the most well-known and popular athlete in the world, sacrificed the most productive years of his boxing career to take a principled position against war and racism. For almost four years until the U.S. Supreme Court overturned his conviction, Ali became the most popular outspoken anti-war speaker on college campuses and universities. He was soon regarded as a hero by millions of people.From Tommie Smith and John Carlos to Colin KaepernickDuring the same time frame, Black athletes were discussing whether to form a coalition to boycott the 1968 Olympics in Mexico City to protest racist repression at home. When the boycott failed to materialize, U.S. sprinters Tommie Smith and John Carlos carried out a protest of their own at the Olympics. It followed their first- and third-place finishes in the 200-meter-yard dash. While the U.S. national anthem played, they both raised black-gloved fists in the air, the Black Power salute, while standing barefoot on the podium.The U.S. Olympics Committee then stripped Smith and Carlos of their credentials, forcing them to abruptly leave Mexico City to return to the U.S. Even though it was difficult for them to find jobs for years, they refused to apologize or back down from their principled, heroic actions. A 22-foot-high statue of Smith and Carlos’ Olympic protest was erected in 2005 at their alma mater, San Jose State University in San Jose, Calif. Fifty-one years later, their silent but powerful protest inspires new generations of activists because the same issue of white supremacy still dominates all sectors of U.S. capitalist society. One athlete inspired by Smith and Carlos was Colin Kaepernick, the Black quarterback with the San Francisco 49ers. He decided to take a knee during the playing of the national anthem preceding every National Football League game during the 2016-17 season. In fact, this August marks the third year anniversary of his protest that began during the pre-season. His motivation for taking this stance was to protest the racist police killings of two Black men, Philando Castile and Alton Sterling, in Minnesota and Louisiana, respectively, within one day of the other in early July 2016. Both brutal murders were captured on videotape. None of the killer cops have been brought to justice. Kaepernick’s protest caught fire among the majority of NFL teams, as multiple players took a knee before each game. Their actions helped to bring new energy to the dynamic Black Lives Matter movement. Soon athletes in other sports—​of all genders, gender expressions and ages—​followed suit, much to the dismay of the majority-white billionaire NFL owners. Like many rich, capitalist owners in any industry, they had hoped the workers would not make any political demands that challenged the status quo. Just like Ali had sacrificed his career to raise consciousness for social justice, so had Kaepernick. He not only earned the ire of the deplorable then presidential candidate, Trump, but has been “blackballed” from playing in the NFL since the end of the 2016-17 season. Recently, Jay-Z, the billionaire hip-hop artist, has come under fire for his new partnership with the NFL hierarchy, that represents the interests of the football owners, to promote “social justice” causes that exclude any guarantee that Kaepernick be signed to a team. What’s noteworthy is that Kaepernick put his career on the line during a period that ushered in the extremely reactionary Trump presidential era. So many voters, especially oppressed people, were not excited about voting for Hillary Rodham Clinton. Since Trump took office, the number of NFL players taking a knee may have declined, but one player in particular has continued the crusade that Kaepernick began. That player is Kenny Stills, the 27-year-old Miami Dolphins wide receiver. He recently made headlines when he openly criticized on Twitter the billionaire Dolphins’ owner, Stephen Ross, for hosting a fundraiser for Trump. Stills told reporters: “It just doesn’t make sense to me. It just doesn’t align to be running a nonprofit focused on equality and talking about sports and equality and then to be holding a fundraiser for a man that we know isn’t standing up for that same cause or championing that same cause.” (, Aug. 9) Stills said that he has received close to a dozen death threats for criticizing Ross—​but that will not stop him from speaking out. Anti-Trump protests at Pan-Am GamesThe movement that Kaepernick sparked was played out at the XVIII Pan-American Games held in Lima, Peru, from July 26 through Aug. 11. Forty-one nations from South America, Central America, the Caribbean and North America participated. Two U.S. gold-medal-winning athletes protested against Trump’s policies during the medal ceremonies. Gwen Berry, a Black hammer thrower, courageously raised her fist and bowed her head during the playing of the national anthem. She stated: “Somebody has to talk about the things that are too uncomfortable to talk about. Somebody has to stand for all of the injustices that are going on in America and a president who’s making it worse.” (, Aug. 12)Louis Moore, professor of history at Grand Valley State University in Allendale, Mich., and author of “We Will Win the Day: The Civil Rights Movement, the Black Athlete, and the Quest for Equality” told CNN: “Specifically, for Berry, her protest is especially significant because hers first should come as a reminder that Black women athletes in 1968 were not asked to join the protest leading up to the Games or during the Games. But today, whether we are talking about the WNBA players, Serena Williams, or Gwen Berry, they aren’t waiting and they aren’t asking. They are using their platform how they see fit.” (Aug. 12)Fencer Race Imboden, who is white, took a knee, to also protest Trump’s racism. He pointed out on Twitter, “multiple shortcomings of the United States … racism, the need for gun control, the mistreatment of immigrants, and a President who spreads hate.” (Aug. 9)Both Berry and Imboden face punitive measures from the U.S. Olympic and Paralympic Committee, which could have repercussions for their participation in the 2020 Summer Olympic Games in Tokyo, Japan.Bravely speaking out on sexual abuseSimone Biles is the 22-year-old reigning world champion gymnast, who won her sixth straight U.S. championship on Aug. 11 in Kansas City, Mo. She is one of the more than 300 survivors of sexual predator Dr. Larry Nassar. He was convicted in February 2018 of seven counts of sexual assault against hundreds of majority female gymnasts. Now adults, they were victimized as children and teenagers. After one of her dazzling, historic routines, Biles stated, while in tears, that USA Gymnastics “failed” her and her fellow gymnasts when it came to protecting them from Nassar, the team doctor, against sexual abuse. She continued, “It’s hard coming here for an organization and having had them fail us so many times. They couldn’t do one damn job. You had one job. You literally had one job and you couldn’t protect us. Every time I go to the doctor or training, I get worked on, and I don’t want to get worked on, but my body hurts. I’m 22.” (, Aug. 8)Not to forget Megan Rapinoe. A lesbian, she is the U.S. soccer player who has taken a knee in solidarity with Kaepernick and fought for equal pay for women and gender-oppressed players. All these multigenerational athletes have refused to shut up and just play sports when it comes to fighting for social equality and protesting against white supremacy and misogyny.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

Treating Palmer Pigweed Imperative as it Shows up in 20 Indiana…

first_img Facebook Twitter Palmer video on HATAt a recent agAcademy at the Monsanto research farm in West Lafayette many growers got their first look at Palmer Amaranth, or Palmer pigweed. It is a weed than has migrated from the south and is becoming more prevalent in Indiana.In a special HAT video (below) Dan Childs, Technology Development Representative at Monsanto describes the most recent threat to Indiana soybeans.“It is a glyphosate resistant weed. It is in the pigweed family. It is very prolific and probably the most competitive of any of the pigweeds, more competitive than even waterhemp which is another pigweed. Very characteristic of Palmer is a very long spike that can reach 4 feet in length. The total plant height can get 7 feet or taller. We had a Palmer pigweed in that corner of the field this year. We have since cut it down with a chainsaw it got so big.”Childs says that plant was growing 2-3 inches each day and the female can produce up to a million seeds per plant. Is there control for the weed?“Fortunately we still have tools that can help control Palmer today. The residual herbicides Warrant, Valor, Authority, those will give you pretty decent control, but once they get above 4 or 5 inches tall it’s really hard to control them.Becca Holt says Palmer that is cut down then needs to be destroyed. If it is left lying in the field it will go to seed. She is now getting more and more inquiries about the weed and stories about how hard it is to control.“I had one story last week and another one this morning where individuals used residuals up front and came back in with Roundup and another residual, but they had some wet spots in the field that they didn’t get to. They now have patches of this growing in those wet spots. I’ve been getting text messages asking what is this weed, so we need to identify it and get it under control.”Childs says one of the best control methods for Palmer pigweed in a soybean field is to switch the field to corn for several years and let the corn herbicides kill it off. The most recent report from Purdue’s Bill Johnson says as of Thursday afternoon the weed has been located in 20 Indiana counties. Facebook Twitter Home Indiana Agriculture News Treating Palmer Pigweed Imperative as it Shows up in 20 Indiana Counties By Andy Eubank – Aug 22, 2013 Previous articleInnovation Stressed at Becknology DaysNext articleDairy Bar Tallies Record Sales at Indiana State Fair Andy Eubank SHARE SHARE Treating Palmer Pigweed Imperative as it Shows up in 20 Indiana Countieslast_img read more

Men’s golf has strong showing

first_imgCole Polley Cole Polley Taylor’s monster slam highlights big weekend for TCU Athletics Cole Polley TCU golf finished 4th at the Wyoming Desert Intercollegiate. ReddIt Cole is a Sophomore Journalism major from Llano, Texas. He’s an avid Seinfeld watcher and he is passionate about the San Antonio Spurs, listening to Drake & chicken wings. Hit him up on Twitter @CPolley12! Twitter + posts SGA brings ‘It’s On Us’ to campus in joint Big 12 initiative ReddIt Twitter Cole Polley Linkedin Robert Carr Chapel holds Election Day service SGA holds Outreach Day to interact with students TCU golf weekend roundup SGA supports addition of new minor Linkedin printIn the second tournament of the spring season, the Horned Frogs men’s golf team placed 4th in a field of 20 teams at the Wyoming Desert Intercollegiate tournament in Palm Desert, California.Junior Chelso Barrett took 2nd place individually with a three-round score of 215. In the tournament, which took place Feb. 19-21, Barrett had his best round on the first day, shooting a 68, and finished on Sunday with a 69.Senior Sarosh Adi also came in with a top 10 finish, placing 8th individually with a score of 215. Junior Giulio Castagnara, who competed as an individual, finished tied for 9th.TCU Final Individual Results2. Chelso Barrett — 211 (-5)8. Sarosh Adi — 215 (-1)T45. Stefano Mazzoli- 225 (+9)T59. Paul Barjon- 226 (+10)T63. Pierre Mazier- 227 (+11)*Giulio Castagnara’s score did not factor into the team total as he competed as an individual.TCU’s ten over par team score of 874 put them eight strokes behind Kansas who finished 1st at 866. The Frogs return to the course March 7-9 in the Southern Highlands Collegiate Masters in Las Vegas, Nevada. Cole Polley Previous articlePolitiFrog: Trump, Rubio and Carson Will Cruise Through DFW Ahead of Super TuesdayNext articleBotanic Garden to host 8th bi-annual butterfly exhibit Cole Polley RELATED ARTICLESMORE FROM AUTHOR Facebook Facebook City proposes price increase for golf yearly passeslast_img read more

New platform launched to ease scholarship finding process for current TCU students

first_imgTCU places second in the National Student Advertising Competition, the highest in school history Facebook Skye Moreno Previous articleStudent body officer candidates talk campus issues in first-ever live debateNext articleWhat we’re reading: FDA recommends pausing Johnson & Johnson vaccine, Minnesota police officer resigns Skye Moreno RELATED ARTICLESMORE FROM AUTHOR Twitter printTCU launched a new platform to give current students a one-stop shop for over $1 million in scholarship opportunities. The online search platform ‘Horned Frog Scholar Search‘ went live last month after being created by the Office of Scholarship and Student Financial Aid. Creators of the platform told TCU News that they wanted to reach a broader base of students by easing the access to scholarships. “This increased visibility and awareness of available scholarships, coupled with the ease of submitting applications online, will reach a broader student base than previously possible,” they wrote.The processThe scholarship search is more than just a database. FIrst, it takes basic student information such as GPA and degree from the Registrar’s Office and adds it into its system.Then, students fill out a “general scholarship” application that includes more information on their involvement and honors. Detailed information provided by the student should include honors, awards, organization involvement and other information which can not be gathered through other school sources. After completing the application, the search recommends more scholarships for students based on their input. Over $1 million in possible scholarships are currently in the database. Creating the database was a group effort by a number of TCU departments. “The process was extensive and was the work of several offices coming together – including IT, Marketing & Communications, Donor Relations, Academic Affairs and Financial Aid – just to name a few,” said Nancy Cathey, the scholarship coordinator in the Office of Scholarships and Student Financial Aid.Courtesy of The Office of Scholarship and Student Financial Aid.Other universities such as Texas Tech University and The University of Texas at Austin also have scholarship searches open to incoming and current students. Skye Moreno Skye Moreno TCU traditions and history Skye Moreno Skye Moreno ReddIt + posts center_img TCU extends use of campus recreation center as shelter for students Facebook What we’re reading: British COVID-19 variant is most common in U.S., Biden moves up vaccine timeline A student celebrates receiving a scholarship to TCU. (TCU) Race & Reconciliation chair hopes upcoming hip hop masterclass can provide perspective Welcome TCU Class of 2025 Linkedin Linkedin ReddIt Twitter World Oceans Day shines spotlight on marine plastic pollution last_img read more

Fed Reports Strengthening Housing Activity

first_imgHome / Daily Dose / Fed Reports Strengthening Housing Activity Federal Reserve U.S. Economy U.S. Housing Market 2016-07-13 Brian Honea The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save The Federal Reserve’s 12 districts general reported modest economic growth from mid-May until the end of June—and they expect it to continue at that same modest pace, according to the Fed’s Beige Book released on Wednesday.Residential real estate activity, however, continued to strengthen since the previous Beige Book reporting period (early April to mid-May), according to the Fed—despite supply issues.“Single-family home sales increased at a moderate pace overall, with Boston, Cleveland, and St. Louis reporting strong growth,” the Fed reported. “Many Districts indicated that inventories continue to be low. Despite this persistent inventory issue, Boston, Atlanta, Kansas City, and Dallas all report that contacts have a positive outlook for the market in the next few months.”The Fed’s districts generally reported house price increases, with modest residential construction activity across districts. Strong growth in housing starts was reported in Cleveland and Kansas City; Chicago reported little change in residential construction activity; and New York reported a decline. A lack of available lots on which to build was reported in Philadelphia, Richmond, St. Louis, and San Francisco.Banks in the Fed districts reported overall increases in loan demand, while overall economic activity continued to expand at a modest pace across most regions, according to the Fed. Activity was steady in the Cleveland District, but the increase was moderate in Minneapolis. The Fed reported that labor market conditions remained stable as employment continued modest growth since the previous Beige Book was issued six weeks earlier. Wage pressures remained modest to moderate, according to the Fed; consumer spending across districts was generally positive but did show signs of softening.“The outlook was generally positive across broad segments of the economy including retail sales, manufacturing, and real estate,” the Fed stated. “Districts reporting on overall growth expect it to remain modest.”Click here to view the entire Beige Book for July 2016. Related Articles Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Tagged with: Federal Reserve U.S. Economy U.S. Housing Market Previous: Here is How the Republican VP Candidates Stack Up Next: Foreclosed Home Values Skyrocketing Since Crisis Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days agocenter_img July 13, 2016 1,162 Views About Author: Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Market Studies, News Fed Reports Strengthening Housing Activity The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Subscribelast_img read more

Montgomery on the Road Ahead for FHA

first_imgHome / Daily Dose / Montgomery on the Road Ahead for FHA Data Provider Black Knight to Acquire Top of Mind 2 days ago Montgomery on the Road Ahead for FHA Subscribe  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: Brian Montgomery FHA FHA Commissioner HUD Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Radhika Ojha Previous: Aligning Housing and Sustainability Goals in California Next: The Mortgage Industry’s Biggest Challenges in 2018 July 10, 2018 2,456 Views The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img Share Save Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Government, Journal, News Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Brian Montgomery FHA FHA Commissioner HUD 2018-07-10 Radhika Ojha Governmental Measures Target Expanded Access to Affordable Housing 2 days ago It has been a little more than a month since The Hon. Brian D. Montgomery took over the reins as the Assistant Secretary for Housing and FHA Commissioner at the Department of Housing and Urban Development (HUD). During this time, he’s been busy assessing the agency’s needs and challenges and strategizing with his team about the path forward. “It’s been a busy 30 days, as you can imagine,” he noted Tuesday morning during a limited-attendance media event hosted by HUD.This isn’t Montgomery’s first time taking up the mantle of FHA Commissioner. He previously served in this position from 2005-2009 under President George W. Bush. Montgomery’s career path intersected with the FHA once again last September, when President Donald J. Trump nominated him as FHA Commissioner. He was confirmed by the Senate in May 2018.Montgomery told reporters on Tuesday that updating FHA’s technology infrastructure would be a primary focus in the near term. Comparing FHA’s infrastructure to the upgrades and expansions the GSEs have made over the past decade, Montgomery commented that “FHA’s looking for loose change under the sofa cushions, and that manifests itself in a lot of ways.”“We are in fix-it mode,” Montgomery said when asked about the agency’s future plans. “If you look at what Fannie Mae’s been able to do, in particular around Day 1 Certainty, they’re heavy on data-centric architecture. The CEO there has been visionary and hired a good team. They’ve been able to do a lot of amazing things.”Montgomery said that working to fill the agency’s vacancies would be another focus in the near term. “We have a great core here and we just need to expand on that.”When asked how the FHA would work to promote and improve homeownership rates among minority borrowers, Montgomery agreed that it was an important priority. “The minority ownership numbers have dropped, in particular for African-Americans,” Montgomery said. “Too many minority families are missing out on the benefits of wealth-building and wealth accumulation that homeownership brings over the long term.”Montgomery explained that homeownership rates expanded between 2005 and 2009, but they have since fallen again. Montgomery said the agency was still exploring possible opportunities to expand its footprint to benefit these underserved communities. “In spite of all that, 33 percent of first-time homebuyers who opt for FHA loans are minorities, and we plan to expand that number moving forward.” Demand Propels Home Prices Upward 2 days agolast_img read more

Why Commercial Civil Courts Have The Potential To Be And Possibly Are Better Than Domestic Arbitrations

first_imgColumnsWhy Commercial Civil Courts Have The Potential To Be And Possibly Are Better Than Domestic Arbitrations Aaditya Vijaykumar3 May 2020 11:28 PMShare This – xThe process of adjudication in domestic arbitrations has always been slow and has not gathered significant pace even with the multiple amendments in the Arbitration and Conciliation Act, 1996. This is primarily since arbitrators and attorneys assisting arbitrators take up multiple matters in courts and multiple arbitrations, whether on the same day or otherwise, the culture…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe process of adjudication in domestic arbitrations has always been slow and has not gathered significant pace even with the multiple amendments in the Arbitration and Conciliation Act, 1996. This is primarily since arbitrators and attorneys assisting arbitrators take up multiple matters in courts and multiple arbitrations, whether on the same day or otherwise, the culture is incomprehensibly not “arbitration centric” yet, timelines set in arbitrations are taken particularly lightly and there is no real consequence to non-compliance of timelines, unlike in international arbitrations. The question is whether a domestic arbitration meets the hallowed purpose of being a speedy and cheaper dispute resolution mechanism? The answer to this is an emphatic “no”. Is there an alternate resolution system, which is more efficient than arbitration? The answer, in the estimation of the author, is that commercial civil courts are cheaper and faster than arbitrations. Originally, civil courts adjudicated every dispute between two or more parties. With time, the number of disputes increased and the nature of disputes became more complicated. Naturally, specialized statutes called for specialized tribunals to be set up. Thus, tribunals such as Company Law Board, the Central Administrative Tribunal, the Debt Recovery Tribunal etc., just to name a few, were set up to resolve a certain set of disputes arising from specific statutes. Arbitration, which was essentially resolution of disputes outside the four walls of a court by experts in the field or by persons with judicial background, was also always envisaged to be alternate mechanism to resolve contractual disputes. It was thought that arbitration would not only resolve the high pendency but would be an alternate, efficacious, speedy and cheaper dispute mechanism system as compared to Courts. Contrary to this basic understanding, the Arbitration Act, 1940 turned out to be a massive failure as it was neither cheap nor expeditious at all. This statute was overhauled and the Arbitration and Conciliation Act, 1996 was brought in, which was based on the internationally accepted UNCITRAL model. Until the amendment in the year 2015[1] and later in 2019[2] in the Arbitration and Conciliation Act, arbitration under this statute as well was a time consuming process since there was no time limit to conclude the arbitration, parties had to approach courts for various issues including urgent interim orders prior to appointment of arbitrators, even for appointment and replacement of an arbitrator and for enforcement of the final orders/award of the arbitrator. Besides this, the enforcement of an interim order passed by arbitrators was also difficult. That apart, arbitration was a particularly expensive affair with arbitral tribunals charging almost upto 2-10% and at times a staggering 25% of the value of the claim as arbitral fee. By the two amendments, which came into force on 23rd October, 2015 and 9th August, 2019, the Legislature sought to cap the arbitral fee on the basis of a fixed percentage of slab.[3] The Legislature also sought to make the entire arbitral process simpler and faster by effectively bringing about an outer time limit of 2 years to conclude the arbitration.[4] Arbitrators were given greater powers and freedom to enforce their own urgent/interim orders, which was not the case earlier. Monetary costs could be imposed on a particular party to the proceeding after looking at the conduct of the litigant and other factors, if the Arbitrator thought fit.[5] Unfortunately, the process of appointment of arbitrators[6], replacement of arbitrators[7], extension of time period of arbitrators[8], determination of multiple appeals from certain orders of the arbitrators[9] and enforcement of the final order[10] still vested with civil courts, which naturally took their time in adjudication. Additionally, while the Legislature sought to make things simpler, arbitral tribunals sought to complicate issues. Some tribunals reluctantly adhered to the schedule pertaining to the fee and sought to provide an absurd interpretation (to the IVth Schedule) to eke out the maximum arbitral fee. However, mostly the IVth Schedule, which was fundamental to the amendment, was and is not adhered to at all and conveniently bypassed. Infact, some of the orders passed by the Arbitral Tribunal were contrary to judgments of various courts relating to a restriction in charging arbitral fees under the IVth Schedule. This is despite the fact that several arbitrators are cognizant of the prevailing judgments.[11] The arbitrators thus continue to charge arbitral fees as per their own whims and fancies, with the avowed objective to make up for lost time. The unfortunate situation for a litigant is that such an order as to determination of the arbitral fee/deposit of costs cannot be challenged until the final adjudication of the arbitration.[12] This challenge can be, at the most laid, in a petition under Section 34 of the Arbitration and Conciliation Act, 1996 to the Appellate Court. By that time, the litigant would have been compelled to pay the fee determined by the arbitrator the fee so arbitrarily determined by the Arbitrator. The unfortunate situation is that the litigant not only therefore had to bear the fee of the arbitrator but also fee of the attorney, arbitral venue charges and eventually stamping of the arbitral award which was 0.1% of the value of the award/final order so rendered. These costs itself accumulated into a cost which the litigant had not foreseen when the litigant triggered arbitration. It can therefore hardly be said that arbitration is a cheap process or mechanism. Further, arbitrators were to mandatorily disclose their interest, whether financial or otherwise,[13] in the subject matter of the dispute. This also was and is never adhered to either in letter or in spirit by arbitrators, despite specific requests. To compound problems, arbitrations seldom conclude within a time period of 1 year[14], as set out in the statute. Lawyers, who are not arbitration centric, are also particularly reluctant to trigger the “fast track arbitration” process. The only redeeming factor however is that if an appeal is preferred against the award, the courts do not get into a full blown fact-finding enquiry and has a particularly restricted approach. However, the problem still is that the restricted approach does not find resonance in every court of the country. Additionally, years are spent on having the two appeals adjudicated. As opposed to this, on the same day i.e. 23rd October, 2015, the Legislature brought in Commercial Courts Act[15], with the endeavor to set up commercial courts to adjudicate commercial disputes expeditiously. What infact constitutes to be a commercial dispute is defined in the statute itself. Illustratively, a dispute relating to trading of goods etc. was a commercial dispute. In the Commercial Courts Act, a pre-litigation mediation[16] was made mandatory, which implied that the parties had to essentially sit across the table to sort out their issues and negotiate with the help of a third person in a non binding process. The timeline for this pre-litigation mediation was 90 days. It was found that some disputes were actually resolved through this process. If this pre-litigation mediation failed, the parties could initiate a claim essentially clubbing the interim urgent relief with the final relief in one petition, unlike under the Arbitration and Conciliation Act, if a Tribunal had not been constituted. Additionally, while the arbitration fee was about 2-10% (at a minimum) of the value of the claim, the court fee (fee payable for the adjudication process) in case of approaching the court in places like Delhi was roughly 1% of the value of the claim[17] and Ahmedabad and Bombay etc. had a capped court fee of a meager Rs. 75,000 and Rs. 3,00,000 respectively, even if the adjudication of the dispute involved several and in some cases several hundred crores. Clearly, approaching court would be a particularly cheaper via media. Further, after the litigants file their respective cases and defence, a case for summary judgment[18] could be made out and final orders could be passed if the court feels that the defence raised is frivolous. If the court feels that an order of summary judgment cannot be made and the defence is somewhat tenable, parties could be directed to proceed to evidence, subject to deposit the monies or a security in court. This is particularly comforting to the person initiating the case as the money so deposited could be withdrawn if eventually the litigant succeeds. The courts have also started to convene case management hearings[19] where a fixed non-derogable time schedule, subject to heavy penalties, is drawn up in every commercial case for every possible stage. Thus, if this is simply followed, there would be expeditious adjudication and disposal of cases. Besides this, a litigant does not have to go to two different forums for the purposes of summoning (calling) witnesses for evidentiary depositions, unlike in arbitrations. Further, unlike in the process of arbitration neither does the litigant have to pay for the costs of venue nor does he have to pay an additional stamp duty of 0.1% of the value of the final order. Clearly therefore, if the commercial courts convene, conclude and adjudicate in a streamlined manner, approaching commercial courts would have greater benefits and myriad advantages rather than going through the rigmarole of arbitration. This would also be a way for the courts to reinvent themselves to show that not all cases are pending for a period of 10-15 years, as is the general impression.Views Are Personal Only [1] Arbitration and Conciliation (Amendment) Act, 2015 dated 31st December, 2015 w.e.f. 23rd October, 2015; [2] Arbitration and Conciliation (Amendment) Act,2019 dated 09th August, 2019; [3] Section 11(14) read with the Fourth Schedule of the Arbitration and Conciliation Act, 1996; [4] Section 29 A of the Arbitration and Conciliation Act, 1996; [5] Section 31 A of the Arbitration and Conciliation Act, 1996; [6] Section 11(5) and Section 11(6) of the Arbitration and Conciliation Act, 1996; [7] Section 14 and 15 of the Arbitration and Conciliation Act, 1996 and HRD Corporation v. GAIL India Ltd.; Civil Appeal 11127 of 2017; [8] Section 29A(3) and Section 29 A(4) of the Arbitration and Conciliation Act, 1996; [9] Section 37 of the Arbitration and Conciliation Act, 1996; [10] Section 36 of the Arbitration and Conciliation Act, 1996; [11] Delhi State Industrial Infrastructure Development Corporation Ltd. v. Bawana Infra Development Pvt. Ltd.; O.M.P. (Misc.) 52018; [12] G & S Sarovar Park Plaza v. Poorva Sanskritik Kendra Society, W.P. (C)10040/ 2015 before the High Court of Delhi and Rajeev Gupta v. Delhi Metro Rail Corporation, W.P. (C) 8085/ 2015 of the High Court of Delhi; [13] Schedule V-VII of the Arbitration and Conciliation Act, 1996; [14] supra at 8; [15] Commercial Courts Act dated 31st December, 2015 w.e.f. 23rd October, 2015; [16] Commercial Courts (Amendment) Act, 2018 w.e.f. 20th August, 2018; [17] Court Fees Act, 1870; [18] Order XIII A of the Code of Civil Procedure, 1908; [19] Order XV A of the Code of Civil Procedure, 1908. 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Skills gap

first_img Previous Article Next Article Comments are closed. The move to an economy based on information and services, demographicchanges (such as an aging population and growing ethnic diversity), and anincreasing reliance on technology in the workplace may lead to renewed skillsdevelopment in the workforce. But numerous studies point out that the US population does not have theskills necessary to succeed in the digital economy. From lagging scores onstandardised testing to a growing chasm in access to and comfort withtechnology, skills development may become a primary concern as employers faceincreased global competition for goods, services, and labour. The School-to-Work Program Survey, conducted by the Society for HumanResource Management, asked respondents whether they thought most high schoolgraduates were qualified to enter the workforce. The majority of HRprofessionals did not think so. Skills gapOn 1 Mar 2002 in Personnel Today Related posts:No related photos.last_img read more