Tag Archive for finances

JFL Hospital Board Hopeful on Finances and Projects

The report of Tim Lessing, Gov. Juan F. Luis Hospitals chief financial officer, to the hospitals governing board of directors on Wednesday probably would not have made a businessman happy expenses were higher than income. However, Lessing said, Overall, May has been a good month, suggesting the figures show continued improvement.

Some of the figures Lessing presented included charges for services, $14.6 million; an amount 11 percent higher than expected. Year-to-date charges are 6.6 percent higher than expected, he said.

Expenses for the month were $7 million while only $6.6 million had been budgeted for them.

The Latest: Sanders gets extension on disclosing finances

WASHINGTON (AP) – The Latest on the US presidential campaign (all times EDT):

10 pm

Fifty-seven fiberglass donkeys are being installed around Philadelphia ahead of the Democratic National Convention.

Workers began installing the donkeys Thursday.

They represent the 50 states, five territories, Washington, DC, and overseas Democrats. Twenty-eight artists painted each donkey with up to six icons representing their state or territory such as a flag, bird or flower. They are being placed at landmarks including the Philadelphia Museum of Art.

The DNC host committee will hold a scavenger hunt through a smartphone app. The app will encourage visitors to find and complete challenges on their phone at each donkey.

Delegates will have a chance to take home the donkeys after the convention. Any remaining will be auctioned off with proceeds being split among the artists.

9:55 pm

Donald Trump took a moment during a rally to offer a tongue-and-cheek warning as a plane flew over an outdoor rally in New Hampshire: Mexico could be getting ready to attack.

Speaking about free trade, Trump turned to Mexico and its trade with the United States. As he praised Mexicos leaders as so much smarter, so much sharper than those in the US, he seemed to spot the plane.

He said, In fact, that could be a Mexican plane up there. Theyre getting ready to attack.

His quip was greeted with laughter from the Manchester crowd, at a rally about 2,200 miles north of the Mexican border.

8:35 pm

Sen. Bernie Sanders isnt directly addressing Vice President Joe Bidens claim that Sanders has said he will indeed endorse Hillary Clintons candidacy for president.

Biden has told National Public Radio that he has talked to Sanders and that Sanders says he will endorse Clinton.

Asked on MSNBC about Bidens comments, Sanders demurred and repeated his contention that his campaign and Clintons campaign are working on coming together on various issues and that he hopes they can reach an agreement at some point.

Sanders is more direct when it comes to Republican candidate Donald Trumps assertion that Sanders actually hates Clinton. On that point, Sanders tells MSNBC that Trump is lying as he always does.

6:39 pm

Vice President Joe Biden says Sen. Bernie Sanders, who is still technically running for president as a Democrat, will soon back Hillary Clinton.

Biden tells National Public Radio that he has talked to Bernie. Bernie is going to endorse her.

Sanders has said hes going to vote for Clinton, but he has not formally endorsed her. The former secretary of state has locked up the delegates required to become the first woman to win a major partys presidential nomination. Sanders was holding out for changes to the Democratic party platform.

Sanders endorsement would be another sign that the Democratic Party, split for more than a year between Sanders populist surge and Clintons second bid for the presidency, is mending. President Barack Obama has endorsed Clinton. Biden is set to appear with her in Pennsylvania next week.

5:51 pm

Donald Trump is pointing to a shuttered light-bulb factory in Manchester, New Hampshire, as evidence of harm caused by the North American Free Trade Agreement. But company officials say NAFTA had nothing to do with its choice to shut down the factory and move the jobs to a plant in Juarez, Mexico.

Glen Gracia is the spokesman for Osram Sylvania, the company that shut down the factory in 2014. Osram manufactures lightbulbs and lighting technology and has factories across the country and internationally.

Gracia said declining demand for traditional lighting products caused the consolidation of jobs. Many of the roughly 140 jobs at the Manchester plant went to Juarez, Mexico, and Foshan, China. Osram still employs about 850 people in New Hampshire in two other factories.

The Energy Independence and Security Act, signed by President George W. Bush in 2007, is part of what led to the use of more fluorescent lighting and caused the lower demand in traditional lightbulb products.

4:50 pm

Bernie Sanders has asked for and received another 45 days to disclose information about his personal finances.

Still a Democratic candidate for president, Sanders is required to file the paperwork. He has not been campaigning since the beginning of June, when Hillary Clinton effectively locked up the nomination.

But the Vermont senators lawyer is telling the Federal Election Commission that Sanders current campaign schedule and officeholder duties are causing delays in filing the personal finance paperwork; the lawyer gave a similar reason when seeking the first 45-day extension at the end of April.

The documents would provide a snapshot of how he and his wife, Jane Sanders, earned money last year.

Clinton and Republican Donald Trump both filed their annual financial information weeks ago.

4:41 pm

Donald Trumps opening acts are even more provocative than he is, and the Republican presidential candidate is okay with that.

When conservative radio host and columnist Howie Carr opened for Donald Trump at a presidential campaign rally in Maine, he brought up Sen. Elizabeth Warren, a potential running mate for Democrat Hillary Clinton. Car then put his hand up to his mouth and issued a stereotypical Native American war cry. Its the same call that Trump supporters sometimes let fly when Trump mentions the Massachusetts senator at events and calls her, Pocahontas. Warren says she has Native American ancestry.

Another Trump opener, South Carolina pastor Mark Burns, questioned Democrat Bernie Sanders belief in God.

In a Boston Herald column Thursday, Carr wrote that Trump has told him to never apologize. Apologizing, Carr says Trump told him, is what killed Jimmy the Greek way back.

That was a reference to Jimmy The Greek Snyder, a sports commentator who was fired from CBS after saying that black athletes were bred while slaves to be better athletes than whites.

3:01 pm

Hillary Clinton plans to hold her first campaign event with Vice President Joe Biden next week in his hometown of Scranton, Pennsylvania, for the state Democratic Party.

Biden endorsed Clinton earlier this month and the former secretary of state is scheduled to make her first joint appearance with President Barack Obama in Charlotte, North Carolina, on Tuesday.

Biden, the former Delaware senator, put out his first fundraising email Wednesday night for Clinton, calling her a force of nature. He was born in Scranton and lived there for 10 years before moving to Delaware.

Clinton has her own Scranton ties: She often notes that her grandfather worked in a lace mill there and her late father, Hugh Rodham, grew up there.

1:00 pm

Utah Sen. Mike Lee says he cant endorse Donald Trump for an assortment of reasons.

Among them, Lee says, is that Trump, accused my best friends father of conspiring to kill JFK.

Lee was referring to the father of Texas Sen. Ted Cruz, one of Trumps opponents in the GOP primaries. Trump at one point referred publicly to an unsubstantiated claim that Cruzs father, Raphael, might somehow be linked to President John F. Kennedys assassin, Lee Harvey Oswald. There is no evidence that the two men had any connection.

Lee told Newsmax TV that he also is concerned about Trumps plan to restrict Muslim immigration into the US amounts to religious intolerance. He noted that Utah has a large Mormon population.

Lee says his state state consists of members who were a religious minority church … and statements like that make them nervous.

Lee said he hopes he can get over his concerns about Trump. Either way, Lee says he will not vote for Democrat Hillary Clinton.

12:34 pm

Some of GOP presidential candidate Donald Trumps proposals are getting public criticism on Capitol Hill.

Without mentioning Trump, GOP Sen. Thom Tillis of North Carolina brought up the wall idea at a Senate Judiciary Committee hearing Thursday, only to dismiss it.

The rhetoric is about building a wall, Tillis said. I dont think anyone here thinks were going to build a 20-foot wall from one side of the Mexican border to another.

Homeland Security Secretary Jeh Johnson later appeared to criticize a separate Trump proposal, the ban on Muslim immigration.

I think it is counterproductive to our homeland security efforts to throw a veil of suspicion over an entire religion.

Trump has now backed off the idea anyway.

11:10 am

Top Senate Democrats are defending Attorney General Loretta Lynch after she met with former President Bill Clinton.

New York Sen. Charles Schumer said nothing discussed was related to the investigation into presumptive Democratic presidential nominee Hillary Clintons private email server and possible security lapses.

Bill Clinton and Lynch had an impromptu meeting Monday at the Phoenix airport. Lynch said they discussed Clintons grandchildren and that there was no discussion of any matter pending for the department.

The FBI is investigating the possible mishandling of sensitive information that passed through Clintons server, which was used for personal and government correspondence while she was secretary of state. Some Republicans are calling for an independent counsel to look into the matter.

Minority Leader Harry Reid, D-Nev., said no one has questioned Lynchs strong feelings about the rule of law and her ethics are the best.

9:40 am

Donald Trump has hired the chief of staff of US Rep. Sean Duffy to run his campaign operation in Wisconsin.

Trumps campaign confirmed to The Associated Press on Thursday that Pete Meachum has been hired to start immediately as state director. It is the second Trump hire in the state in recent week.

Thats an indication that Trump will be making a push to win Wisconsin, a Midwestern industrial state that hasnt voted Republican since 1984.

Meachum has been Duffys chief of staff since 2013. Duffys northern Wisconsin congressional district is one of two that Trump won in the April primary.

Meachum joins Vince Trovato, who had worked for Trump in Wisconsins primary, as his two paid staff members in the state.

8:55 am

Former President Bill Clinton spoke with Attorney General Loretta Lynch during an impromptu meeting in Phoenix, but Lynch says the discussion did not involve the investigation into Hillary Clintons email use as secretary of state.

Lynch told reporters the meeting at a Phoenix airport on Monday was unplanned. She says it happened when the former president was waiting to depart and walked over to the attorney generals plane after she landed there.

Lynch was traveling with her husband and says her conversation with the former president was a great deal about his grandchildren and primarily social and about our travels.

The exchange comes as the FBI is investigating the potential mishandling of sensitive information that passed through the server that Hillary Clinton used for personal and government email at State.

7:50 am

Hillary Clintons presidential campaign is airing advertising in an Omaha congressional district, sending a signal that she may compete for support in Nebraska.

Clintons campaign says it will begin airing two television ads in Nebraska featuring the Democratic presidential candidates past work on efforts to help children.

Nebraska is a safe Republican state, but one of a few states that awards electoral votes by congressional districts. President Barack Obamas 2008 campaign won the Omaha-based district.

Clintons team hopes to garner support in states where Republicans have performed well in the past, including North Carolina. Obama will hold his first joint event with Clinton next week in Charlotte.

3:55 am

Hillary Clinton is pocketing huge campaign money from tiny fundraisers, sometimes with as few as 10 people in the room.

An Associated Press review of her fundraising activities shows Clinton and allied Democrats netted at least $18 million from just 15 of these boutique events.

While helpful for the campaigns bottom line, these fundraisers open the presumptive Democratic presidential nominee to criticism shes beholden to big donors.

Both Clinton and Republican Donald Trump can solicit checks of $350,000 or more from a single donor thanks in part to a Supreme Court ruling that lifted an overall per-person cap on contributions.

At one recent event, 10 people gathered at the home of the Pritzker family in Chicagos Gold Coast neighborhood, raising $1 million or more for Clinton and fellow Democrats.

This story has been corrected to fix spelling of Osram spokesmans name.

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

State lawmaker wants monitor for Oyster Bay finances

OYSTER BAY – The Oyster Bay supervisor says he wants to lead the charge to repair the towns declining finance ratings, but a state lawmaker says the town needs outside oversight.

Standard Poor released the new, low ranking in the spring. Along with the Oyster Bay Town Council, Supervisor John Venditto says officials are working on a plan to fix the finances.

State Assemblyman Charles Lavine, however, says thats no way to fix the problem.

Virginia city seeks state aid with finances

PETERSBURG, Va. (AP) — The city of Petersburg is seeking state aid as it deals starts the new fiscal year off with an estimated $7.5 million budget deficit.

The Richmond Times-Dispatch reports that part of the citys deficit includes $2 million owed to the citys public school system.

Petersburg financial troubles have been long running. The city council fired the city manager in March, and the city attorney resigned on the same day. The citys finance director left in April.

Gov. Terry McAuliffes spokesman said the state will help by first conducting an assessment of the citys finances.

Kerala’s finances ‘alarming’, white paper says

THIRUVANANTHAPURAM: Keralas finances are alarming and there is a need to ensure 20-25 per cent annual growth in tax collection for the next five years, according to a white paper tabled in the state assembly on Thursday.

The white paper tabled by finance minister TM Thomas Issac said that for a state holding a negative cash balance in reality, it was an impossible task to take on immediate and short-term liabilities of over Rs 10,000 crore and that the situation was alarming.

Apart from meeting the day-to-day challenge of keeping the treasury afloat to meet the routine expenditure of administrative machinery, Kerala was constantly facing grave paucity of resources for financing all its other plan and capital expenditure, the report said, adding the state has been living on a financial lie.

In the last three years, budgetary exercise was fudging of accounts, Issac told reporters. Schemes and projects were announced without the funds to back them up, he said.

The annual plan size during this period had been fixed at about 10-15 per cent even beyond the states estimated capacity — to announce an artificially-bloated plan size each year, the minister said.

In the process, unfortunately, budgets have lost their sanctity and budget speeches have become exercises in conjuring up unachievable visions of schemes and projects, he claimed.

Kerala was also unable to reduce revenue expenditure beyond a certain extent due to commitments in the social sector and increase in salary, interest payments and pension, which is mainly attributed as reason for its burgeoning revenue deficit of the state, he said.

However, the minister said, government would check Non plan revenue expenditure, which was necessitated as the previous government had announced various projects which were not included in the budget and were sanctioned as outside the agenda (OA) by the cabinet.

Family finances: The best cash back credit cards

If youve been carrying the same rewards credit card in your wallet for several years, theres a good chance you could get a better deal.

Card issuers are competing hard for your business by promising rebates on everyday purchases. Many issuers are also dangling heaps of extra points or cash back — worth $500 or more, in some cases — if you spend a few thousand dollars in the first three months after opening the account.

IIC finances expansion of Kingston container terminal in Jamaica

Kingston container terminal in Jamaica

KINGSTON, Jamaica — The Inter-American Investment Corporation (IIC), acting on behalf of the Inter-American Development Bank (IDB) Group, has signed a US$265 million financing package with Kingston Freeport Terminal Limited. The project will optimize and expand Kingstons container terminal capacity in Jamaica, as the port must stay competitive to handle larger ships now passing through the expanded Panama Canal.

The upgraded terminal will soon manage increased vessel volume, expanding capacity from 2.8 to 3.2 million Twenty-Foot Equivalent Units (TEUs) per year within the next six years. The project will contribute to strengthen Jamaicans relevancy in global trade and foster private sector activity and foreign direct investment.

The financing includes a US$205 million IDB Loan, comprised of an A-loan of US$94 million and B-loans of US$111 million from Cordiant, FMO, CIBC First Caribbean and CIFI. The package also includes co-loans from Proparco and DEG for US$30 million each.

Total project cost is US$452 million, and it is the largest infrastructure project funded by the IIC in Jamaica. In addition to long-term financing, the IIC provided assessments to optimize dredging and mitigation measures with the aim of protecting local biodiversity and cultural heritage.

Judge raises concerns about Horsehead Corp. finances


ASHEVILLE – A federal judge has raised serious questions about a company with a large plant in Western North Carolina.

Zinc-recycling company Horsehead Corporation idled its plant in Rutherford County in January right before it filed for bankruptcy.

A federal judge in Delaware has taken the unusual step of appointing an equity committee to look into the companys finances.

Small investors are worried theyll lose money.

People who live in Rutherford County fear the jobs they had been promised wont return.

It seems like every time we get, make some progress, in getting jobs we lose them. So we cant really … Its just disheartening, said Thad Hill, a barber in downtown Rutherfordton.

He said the county has lost 10,000 jobs since the 1990s as manufacturing plants closed.

The Horsehead plant had employed about 200 people.

Two years after opening, the company shut the plant down and filed for bankruptcy.

The company says it has a plan to emerge from bankruptcy.

That often means bigger creditors get their money first, leaving smaller investors with nothing.

Kate Dillon is a small investor. She sells race car parts online from her apartment a few miles out of town.

She invested $1,200 in what seemed to be a growing company last fall.

At the end of the year Horsehead reported it was worth more than $1 billion.

Then a couple of months later, it filed for bankruptcy, and noted a value of about $300 million, according to a court filing made by investors.

She wants the US Securities and Exchange Commission to take a look.

What we have here is the rich and powerful using the law using the courts to just crush the little guy, she said. And thats the part I dont think is right.

A federal judge has raised concerns.

In a May bankruptcy court hearing, he said there was a sudden and precipitous decline in value that happened around the time of the bankruptcy.

He also said something doesnt smell right to the court.

The price of zinc as improved since the company filed for bankruptcy but investors say it needs $100 million to get the plant in Rutherford County up to speed.

A spokesman for the company could not be reached for comment.

Flex Academy’s finances scrutinized

A nonprofit charter school in San Francisco with questionable financial ties to a for-profit online education company held its last day of class this month following a scathing report on its finances from the state.

Public school leaders in The City have for years questioned the financial relationship between San Francisco Flex Academy and K12, Inc. Flex Academy is one of several nonprofit organizations under the umbrella of the Wall Street-traded K12, purchasing curriculum materials and administrative services from the company.

Flex Academy’s governing board decided to close up shop May 2 after struggling to find a location within the San Francisco Unified School District, according to meeting minutes.

Then last Thursday, the California Department of Education and State Controller’s Office launched an audit of K12 and nonprofit charter California Virtual Academies — but not Flex Academy — in response to a San Jose Mercury News investigation.

The state agencies aim to determine whether the for-profit company and nonprofit charters were organizationally separate, appropriately allocated and reported shared expenses and boosted enrollment to inflate the state funding they received.

Meigs finances ‘in great shape’

DECATUR – Meigs County government has made great strides to improve its financial management practices.

The Meigs County Audit Committee recently had its first chance to review the countys 2014-15 state audit. The report from the state Division of Local Government Audit revealed just six findings – only three of which were repeated from the prior year. A finding is an area where state auditors believe improvements should be made.