Nismo Club Wed, 29 Jun 2022 03:26:48 +0000 en-US hourly 1 Nismo Club 32 32 Elizabeth “Libby” Andrick Jones (1927 – 2022) – Royal Examiner Wed, 29 Jun 2022 02:16:42 +0000

Mountain Man, Irvin Russell “Rusty” Manuel, 63, of Front Royal, Virginia, died Sunday, June 19, 2022 at Warren Memorial Hospital.

A funeral service will be held for Rusty at 2:00 p.m. on Saturday, June 25, 2022, at the Front Royal Baptist Temple, 25th W 18th St. Front Royal, Virginia with Pastor Carl Menefee officiating. Interment will follow all services at Prospect Hill Cemetery.

Rusty was born in Winchester, Virginia to his mother, Esther Cole, and late father, Johnie Manuel. He is also predeceased by his half-brother, Pete Manuel.

Surviving Rusty is his beloved wife of 42 years, Sharon Manuel; his mother, Esther Carper Cole; his children, Jennifer Dawn Radebaugh (Michael) and Nathan Jedidiah Manuel; his siblings, Norman Manuel (Helen), Robin Phillips (Kermit) and Rebecca Manuel (Rodney); and her grandchildren, Layth, Autumn, Cheyenne, William, Evan and Isabelle.

Rusty was a devoted member of the Front Royal Baptist Temple and was a close friend of Pastor Danny Clegg and Betty Clegg. He was a founding member of the Front Royal Baptist Temple and made many friends and relatives there over many years. Rusty worked at Ferguson Enterprise for 20 years and prior to moving to Front Royal he was a Certified Lumber Grader for Plum Creek Saw Mill in Columbia Falls, Montana. Rusty loved all his friends and co-workers in Montana. His favorite hobbies were hunting, gardening and blacksmithing. He also served as a firefighter in Olney, Montana

A visitation will be held from 6:00 p.m. to 8:00 p.m. on Friday, June 24, 2022 at Maddox Funeral Home, 105 W Main St. Front Royal, Virginia 22630.

The pallbearers will be Randy Coffman, Keith Coffman, Greg Carper, Derek Carper, Roger Manuel and Tony Fox.

Honorary bearers will be Vic Mowery and Zsolt Vezsenyi.

Memorial contributions can be made to the Front Royal Baptist Temple and the family would like to thank everyone who sent them cards and gave them phone calls. In addition, the family extend their heartfelt thanks to the incredible health care team at Warren Memorial Hospital.

Senators’ support for Alfredsson’s HHOF bid signals cultural shift in organization Tue, 28 Jun 2022 17:56:00 +0000

Ottawa Senators co-founder Cyril Leeder was 6,000 feet in the air piloting a hot air balloon in France as former Senators captain Daniel Alfredsson was announced as a Hockey Hall of Fame inductee.

Leeder’s anecdote, which he noted on Twitter with a ‘Where were you when Alfie entered the Hall?’ segment, seems like an apt metaphor for the Senators’ recent cultural shift.

It’s like the sky is the limit where these good vibes can lead. What’s next, general manager Pierre Dorion signs a marquee player to propel Ottawa into the playoffs for the first time in six seasons?

Anything seems possible when you consider the change in mood around the Senators franchise in recent weeks.

Some changes:

• On June 23, the Senators and their new corporate partners (as Capital Sports Development Inc.) were cited as the preferred bid to build a new NHL arena on LeBreton Flats west of the Hill of Parliament, a concept that was declared dead in 2019.

• This week, Alfredsson is inducted into the Hockey Hall of Fame after being inducted since 2017 – and for the first time in five years, the Senators franchise has officially endorsed Alfredsson as a nominee.

• On June 1, the Senators displayed a rainbow theme on their team logo while announcing their Pride Month initiatives – something club staff might not have sensed at the time. a year ago. Since becoming owners of the club, Anna and Olivia Melnyk have made it known that they want a more progressive approach to the team’s website and content channels.

• In early April, the Senators partnered with OSEG, owners of the CFL’s Redblacks and OHL’s Ottawa 67’s to launch a bid to host the 2023 IIHF World Junior Hockey Championships in Ottawa. Although the bid was unsuccessful, it was the first joint initiative by Ottawa’s two professional sports organizations in years.

It continues. No wonder Ottawa fans are engaging with his team in a way they haven’t in years.

Other than the progress and excitement around young Senators players like Brady Tkachuk, Josh Norris, Tim Stützle and Drake Batherson, etc., fans aren’t very proud of their franchise. In fact, the gallows humor that being a Senators fan entails gave rise to the “Sickos” campaign, which took a kind of perverse pleasure in remaining a Senators fan despite the darkness surrounding it. of the team.

Bright sunshine is bursting through these dark clouds today.

Not only was Alfredsson welcomed into the HHOF, he was also symbolically welcomed into the franchise family.

For about five years, Alfredsson and Leeder were separated from the hockey club, an agonizing scenario that unfolded under Senators owner Eugene Melnyk. Leeder, who had served as the hockey team’s chairman and chief executive, was fired by Melnyk in early 2017, the same day former general manager Bryan Murray was honored in the club’s “Ring of Honour.”

For a very long time, Alfredsson barely set foot in the Canadian Tire Centre. In February 2020, when longtime teammate Chris Phillips had his No. 4 retired at CTC, Alfredsson attended, but stayed in the background and left the arena without speaking to reporters. Everything was so terribly awkward.

A week after Melnyk passed away in late March, Alfredsson was back on the ice with members of the Swedish Embassy to mark Swedish heritage night at a Senators game. The pictures said it all.

During a Zoom call with Ottawa media on Tuesday, Alfredsson spoke about how important it is for Bryan Murray to form a bridge between Alfie and the property. Murray died in August 2017, but a few years earlier he allowed Alfie and Melnyk to be in the same room again, despite the 2013 contract standoff.

“When I left for Detroit, I think it wasn’t the best relationship,” Alfredsson said of leaving the Sens in 2013 for Detroit, where he spent one final season as a player.

“Bryan Murray really allowed me to come back and work for the team again, and to retire as an Ottawa senator (2014), which I think healed a lot of injuries, but we We weren’t at the stage yet where, you know, it was an open relationship.

“But sometimes that’s life and we’re where we are today – it’s different and I’m very happy that it is.”

Alfie once again takes the high road. He thanks his father, Hasse, and his mother, Margareta, for holding him down. Hasse told him, “It’s not enough to be a good hockey player, you also have to be a good person.

Giving back to the Ottawa community came naturally to her. He calls the connection with fans and residents here “organic”, but in Sweden it was not common to do charity work and support a cause. He learned it here.

He can feel much more comfortable being the face of the franchise again.

Melnyk was rightly credited with saving the Senators franchise in 2003, and he did some good things as an owner. But the sense of liberation since ownership passed to his two young daughters and a board of directors is palpable.

Managers feel freer to run their business as they see fit, without worrying about being questioned or challenged.

President Anthony LeBlanc made regular radio and television appearances and, along with chief financial officer Erin Crowe, helped clean up the Senators’ bid for LeBreton Flats. To his credit, Eugene Melnyk ensured that the Senators submitted this nomination to the National Capital Commission before his death.

Not only did LeBlanc help orchestrate support for Alfredsson through the team’s official website, but the Senators also backed the #AlfieToTheHall campaign, launched by superfans Corey Meehan and Stephen MacDonald.

In their bid to bring more attention to Alfredsson’s Hall of Fame credentials, Meehan and MacDonald reached out to Leeder, who not only supported the initiative but called on the former member of the Sens staff, Craig Medaglia, to create compelling videos and online content.

Now, many Ottawa media — including this writer — have been sounding the horn over Alfredsson’s bid for Hockey Hall for several years. But the timing of this campaign was appropriate, and it meant as much to the people involved as it did to what it achieved.

Did the campaign ultimately make a difference? Alfredsson himself said he was unsure and felt his own career was enough to get him in. But he was more than touched by the feeling of the effort, something of a crescendo to the decades of support he’s received in Ottawa from fans – who appreciate his efforts in the community, particularly in the area of ​​mental health. , not just his hockey resume.

They could all come back into the fold, to some extent. Alfredsson said he’s open to the idea of ​​a position with the team, although he’s not sure what that might entail.

“Before it was always like that, I don’t want it to take too long with a young family (wife Bibi and four sons), but now the kids are growing up,” Alfredsson said on Tuesday.

Medaglia, who created such brilliant content for the Senators during some of their toughest times, should be given a red carpet to return to his old job with the team.

Leeder is happily engaged in local business, but belongs to the Senators family in some ways, if only as a figurehead.

Regardless of how these important ties from the past are rekindled, it is inspiring to see them be a part of the present and future of this organization as it hurtles towards its 30th anniversary as an NHL franchise.

“There’s a different perspective on everything now than I would say five years ago,” Alfredsson said, “so who knows?”

Who knows indeed. Whether it’s 6,000 feet in France or boots on the ground in Ottawa, the sky is the limit for the Ottawa Senators and their fans.

Community First Fund opens its first credit union branch Tue, 28 Jun 2022 10:00:01 +0000

A credit union that aims to create financial equity and economic mobility for underserved and underbanked individuals and families has opened in Lancaster.

A grand opening was held this month for the inaugural branch of Community First Fund Credit Union, 51 South Duke St. – launched by Community First Fund, an independent nonprofit community loan fund.

“We’ve served Lancaster for 30 years by providing access to credit to entrepreneurs who want to make positive change in the community,” said Daniel Betancourt, president and CEO of Community First Fund and the credit union, in a statement. communicated. “With the credit union, our mission is to provide a pathway to financial stability for families.”

According to information on its website, Community First Fund’s mission is to create financial equity through wealth-building opportunities for individuals, families, and business owners, especially people of color, women and immigrants.

The credit union provides access to consumer financial products and education that improve personal financial stability and provide opportunities to obtain affordable, quality housing, according to a news release about the branch opening.

Community First Fund Credit Union was licensed by the National Credit Union Administration in June 2021 and offers personal savings and checking accounts, business checking accounts, and business and personal loans.

In planning to start a credit union, Community First Fund considered national data that shows 27% of households in the United States are either unbanked or underbanked, while nearly 50% of black households and 46 % of Latino households are unbanked or underbanked.

Unbanked, according to Community First Fund, refers to those who have no savings or checking account, while underbanked means they have bank accounts but depend on alternative financial services like money orders, shops check cashing or pawnbroking.

Community First Fund said it partnered with the Center for Opinion Research at Franklin & Marshall College – surveying Lancaster County residents to understand the local need and demand for a credit union.

“The survey showed that there is a need to enhance financial mobility for families and that the creation of a financial hub would help foster financial fairness and economic prosperity,” the press release said.

Community First Fund has received funding from private donors, local foundations and national banking partners including M&T Bank and Santander Bank.

M&T has committed $1 million over the next five years to help Community First Fund Credit Union expand access to banking and other financial services. She has supported the Community First Fund for over 20 years.

“It is about expanding access to banking and other financial services to communities in the region that have been underbanked for years. This is a transformative moment that could help uplift the entire community,” Tom Koppmann, M&T Bank Regional President for Southeast Pennsylvania, said in a statement.

Santander was the first banking partner to commit significant funds to launch the credit union, according to Community First Fund.

“Investing in projects that help build strong and healthy communities is a key priority for Santander Bank, and we are proud to be a long-time supporter of Community First Fund,” said Seth Goodall, Executive Director, Social Accountability companies for Santander Bank. statement. He added that the establishment of Community First Fund Credit Union in Lancaster is a significant improvement for the community.

Membership in Community First Fund Credit Union is open to those who live, work, attend school or worship in Lancaster County. For more information visit

As a private, independent community development finance institution, Community First Fund strives to provide capital where it is not usually available. Founded in 1992 as the Susquehanna Valley Community Development Loan Fund, the organization became Community First Fund in 1996.

Between 2001 and 2016, Community First Fund offices were opened in Reading, York, Harrisburg and Allentown, according to a schedule on the organization‘s website.

In 2018 Community First expanded to Philadelphia with the formation of the Kensington Lending Partnership, and in 2020 Community First Fund and FINANTA – a Philadelphia-based CDFI – partnered to create an organization that serves an expanded region of 20 counties. .

For more information about Community First Fund, visit

Analyst tells political groups: Fight misinformation with a better story, policy proposal Tue, 28 Jun 2022 03:20:00 +0000

FILE PHOTO: Dindo Manhit, shown here at a 2020 forum, is the founder and president of Stratbase ADR Institute. | PHOTO: Stratbase ADR Institute Facebook Page

MANILA, Philippines – In order to counter disinformation, political groups must fight it with “a better story, a better narrative, [and] a better political proposal,” said a political analyst.

Dindo Manhit, president of the Stratbase ADR Institute, said elections have become voter-centric and the best way to win them is to understand the voters themselves.

“I think it’s essential for any political group to look at elections as a contest and the best way to understand and win that contest for votes, for voters is to understand the voters themselves,” Manhit said. in a Monday night interview with One News’ The Big Story.

“It’s true, there are mechanisms that help spread fake news, misinformation. The only way to counter them is to fight them with a better story, a better narrative, a better political proposal,” he added.

“You can’t just impose your way of thinking on Filipino voters. Elections today are about voters as I have always called voter-centric campaigning,” he added.

Manhit mentioned the survey their institute conducted in October where a Marcos and Duterte tandem was “perceived more positively” and stronger.

“It should have been countered, but instead we saw the opposition focusing on what they thought was their narrative, not really listening to voters,” he said.

“It’s good to understand the voters and build the campaign around that and that’s what I think Senator Risa [Hontiveros] did it on her own,” Manhit added.

Hontiveros is the only opposition senator elected to the upper house in the May 9 elections.

On Monday, Hontiveros was sworn in to outgoing Vice President Leni Robredo, who handed over the leadership of the opposition to the senator.

– Xander Dave Ceballos, Intern

Robredo hands over opposition leadership to Hontiveros
Re-elected Senator Risa Hontiveros takes oath before Vice President Robredo


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Intolerant schools a concern in Indonesia, but a humane approach is needed, experts say Mon, 27 Jun 2022 10:42:00 +0000

JAKARTA, June 27 (Jakarta Post/ANN): The recent government crackdown on the radical Muslim mass organization Khilafatul Muslimin, which allegedly funds or is affiliated with a number of educational institutions across the country, has sown new concerns about the threat of intolerant upbringing in schools.

Authorities cracked down on the group, believed to be seeking to replace Pancasila’s state ideology with the caliphate, following a series of public outings by the group in Jakarta in late May.

Police have now arrested two dozen members, including their leader Abdul Qadir Hasan Baraja, for violating the 2017 Mass Organizations Law.

Educators say the discovery of dozens of Islamic boarding schools run by the Khilafatul Muslimin should be a cause for concern, calling on the government to step up oversight and guidance of schools down to the local level.

“The poor oversight of the ministries of education and religious affairs is something we all deplore,” Feriyansyah of the Education and Teachers Association (P2G) said in a press release last week.

“How schools, suspected of being affiliated or even protected by the [Khilafatul Muslimin], go unnoticed for decades. It is a fatal collective failure,” he added.

The Deputy Secretary General of the Association of Indonesian Teachers (PGRI), Dudung Abdul Qodir, also urged the government to review its school monitoring system, saying it should not be difficult to screen radical schools as long as the government uses a more hands-on approach.

According to Dudung, the government should start by providing support and guidance to teachers and school administrators to ensure education is in line with the national ideology.

“I’m sure if it’s done right, there won’t be any radical schools [teaching]. This is why the government must reassess its approach, build a national network [of schools] with a more holistic approach to education,” Dudung said on Wednesday.

Charge of treason

Authorities said Khilafatul Muslimin’s control of some 30 Islamic boarding schools across the country was further grounds for arrest, as these schools violated the 2003 National Education Act by indoctrinating students with the teachings of the Caliphate.

“These schools are based on the caliphate, and [students] never learned Pancasila [ideology]as required by the 1945 Constitution. [They] learned to obey only the caliphate and not the government,” said Jakarta Police Director for General Criminal Investigations, Sr. Comr. Hengki Haryadi, said at a press conference last week, quoted by Kompas.

Head of the National Anti-Terrorism Agency (BNPT), Comr. General Boy Rafli Amar said on Monday that the BNPT would provide guidance to students whose schools had been closed and had begun to coordinate with relevant ministries to provide a longer-term solution.

However, Boy did not reveal the number of school closures, saying the government was still collecting data on this.

“Ministries, from the central level to the regional administration, are finding the best solution for the students whose schools have been closed,” said Boy, quoted by Kompas, adding that these students deserved an explanation on the closure of their school. .

Humanitarian approach

Although the recent discovery of schools under the Khilafatul Muslimin banner is not the country’s first fight against radicalism and intolerance in educational institutions, experts have continued to stress the importance of prioritizing a more humanitarian approach. to solve the problem.

“I am sure that not all students of Muslim schools in Khilafatul subscribe to their ideology. This is why the government must focus on mapping the situation and de-radicalizing these students,” said Rakyan Adibrata, National Director of the International Association for Counterterrorism and Security Professionals (IACSP) on Wednesday. in Indonesia.

According to Rakyan, most Islamic boarding schools did not start out as radical educational institutions. But over time, individuals who subscribe to these teachings – mostly made up of people disillusioned with the state – could infiltrate these schools through teaching or administrative positions.

Once the government finds out about these radical schools, Rakyan continued, it should adopt a more diplomatic and peaceful approach, instead of just acting out of concern for national security.

“If an institution that opposes Pancasila is simply eradicated by force without regard to collateral damage, the cycle of hatred [against the state] just going to repeat. It is more important to guide them,” added Rakyan.

Echoing Rakyan, Muhamad Bill Robby, a researcher at the Center for Child Protection and Welfare at the University of Indonesia (Puskapa), urged the government to avoid school closures, saying a such a policy would make intolerant beliefs even more hidden and more difficult to detect in the future.

“Closures will only ‘sterilize’ children of radicalism or intolerance in schools, but that doesn’t mean they won’t be exposed to it through other channels, such as [the school’s] alumni, informal student-teacher relationships outside of school or social media,” Bill said Wednesday.

Puskapa, Bill continued, recommends that the government ensure that schools develop students’ critical thinking, as this would help provide students with a broader perspective on issues of identity, as well as media and digital literacy. . – Jakarta Post/ANN

New leadership announced for environmental organization Save the Sound – Connecticut by the Numbers Mon, 27 Jun 2022 01:46:09 +0000

In a letter to Save the Sound members this week, Johnson said Schmalz “has been the driving force in cleaning up our waters, restoring our rivers and coasts, protecting endangered lands and fighting against climate change,” adding that “you deserve his energy and visionary leadership.”

Schmalz was the unanimous choice of the board, as was Johnson before her.

Johnson highlighted what he described as “great accomplishments” during his tenure, “like leading a collaboration that tests the waters from Flushing Bay to Mystic Harbor, protecting 15,000 acres of water company land in the Fairfield County, passing the Global Warming Solutions Act, shutting down Broadwater, and restoring Sunken Meadow. The organization has also played a leading role in the fight for the preservation of Plum Island in Long Island Sound.

“It has been an honor to serve as President of Save the Sound for the past five years, and I am also honored to pass the baton to Leah. There are so many essential environmental actions that call for the leadership of Save the Sound,” he noted. Johnson said he plans to remain involved with Save the Sound on a part-time basis, as part of the organization’s public engagement team.

Incoming President Leah Schmalz wrote to members that “in my 20 years at Save the Sound, I have seen our organization blossom into a thriving and engaged community that catalyzes change in Connecticut, Westchester, New York and Long Island. Save the Sound is now entering its 50th year, and as we look to our next chapter, we will be guided by a long-term vision for a healthier Long Island Sound.

Referring to a recently developed strategic plan, she explained that it will guide the way to “build on our proven approach of uniting scientific advocacy, legal expertise, construction and community engagement to protect waters. and the lands of the Sound, restoring its rivers and transforming the communities we call home.

“Whether it’s partnering with a homeowner to stop pollution with a single rain garden or taking on Shell Oil to protect our climate and Long Island Sound, Save the Sound is here for the long haul – and I know so are you,” she concluded. .

What to watch from Joe Biden’s trip to the G7 Sun, 26 Jun 2022 09:32:00 +0000 Rising costs – in part due to Russia’s invasion of Ukraine – will be at the heart of Sunday’s agenda, where leaders will simultaneously seek to maintain pressure on Moscow while seeking ways to ease the price spikes that cost them politically.

This could prove to be a difficult task. Bans on Russian energy have contributed to a spike in global oil prices, but leaders are loath to ease sanctions they say have an effect on Russian President Vladimir Putin’s economy. One area in which they have announced action: to ban imports of new Russian gold.

“This is a key export, a key revenue stream, a key alternative for Russia, in terms of its ability to transact in the global financial system. Taking this step reduces that ability,” said a senior administration official.

The decision exposed the divisions in American politics and institutions, which acted as an ominous subtext for leaders observing Biden’s attempts to restore American leadership.

Here are several things to watch for at Sunday’s G7 summit:

find the balance

Biden and his fellow G7 leaders will discuss ways to punish Russia while managing a volatile global economy during their first day of talks Sunday in the Bavarian Alps. The conversations will produce announcements and “muscle movements”, according to a senior White House official.

“A big priority of the G7 and the leaders is going to be, you know, how not only do we deal with the challenges in the global economy in the wake of Mr. Putin’s war, but how do we also continue to hold Mr. Putin accountable and for his sake. ‘ensure he bears the costs and the consequences of what he does,’ said John Kirby, strategic communications coordinator at the National Security Council, as Biden flew to Europe.

Biden’s first engagement on Sunday will be a bilateral meeting with summit host German Chancellor Olaf Scholz, followed by the opening G7 session focused on global economic issues that have been deepened by the war in Ukraine.

“I think leaders are going to be looking for ways to do two things: one, continue to hold Mr. Putin accountable and increase the costs and consequences of his war against him and his economy,” Kirby said. “And second, to minimize as much as possible the effect of this oil price hike and the way it has weaponized energy on nations, particularly on the continent but also around the world.”

That balance will define this year’s G7, as leaders struggle to maintain their pressure campaign on Putin while dealing with rising inflation that has politically cost some leaders home. Biden remarked on G7 and NATO solidarity on Ukraine and the Russian invasion, telling Scholz ahead of the two leaders’ meeting that the groups must remain unified.

“We have to stick together. As Putin hoped from the start, NATO and the G7 would somehow break up, but we haven’t and we’re not going to. “, said Biden.

Leaders agreed to announce a ban on imports of new gold from Russia, Biden said on Twitter Sunday morning. Gold is Russia’s second largest export product after energy.

Biden has weathered some of the harshest backlash as he saw his approval ratings plummet amid a price hike.

“There may well be a growing pressure in American politics, in the sense that some people in the primaries that we’ve seen before said I don’t care about Ukraine. What matters is the cost of the life,” a European official said before that. one week trip. “And if the president got a rebound in the polls because of his leadership over Ukraine, that will dissipate very quickly. So there will be that effect.”

Homecoming Division

Biden said Friday that the Supreme Court’s conservative majority “made the United States an exception among the developed nations of the world” by removing the nation’s right to abortion.

Two days later, he will come face to face with the leaders of those nations in the Bavarian Alps, leaving behind a rapidly dividing country whose turbulent politics have caused global concern.

The White House does not believe the decision or the rifts currently dividing America will factor into Biden’s talks.

“There are real national security issues here that need to be discussed and the president has no fear whatsoever that the Supreme Court ruling will take that away,” Kirby said.

Still, four of the six other leaders Biden is joining in Germany found the decision monumental enough to weigh on their own.

“I have to tell you that I think this is a big step backwards,” said British Prime Minister Boris Johnson. It’s a “devastating setback,” said Canadian Prime Minister Justin Trudeau. French President Emmanuel Macron and Scholz were also critical.

Whether the decision will be brought up in Biden’s private talks remains to be seen. But the fundamentally changed and divided country he left behind will never be far from mind as he represents it on the world stage.

Challenge China

At last year’s G7 summit on England’s Cornish coast, Biden pressed fellow leaders to insert tough new language condemning China’s human rights abuses in a final statement. Prior to the document, the group had sometimes heated conversations behind closed doors about their collective approach to China.

The topic can lead to tense conversations, as some European leaders don’t necessarily share Biden’s view of China as an existential threat. Still, the president has made it clear on several occasions that he hopes to convince his fellow leaders to take a tougher line. And Russia’s invasion of Ukraine has amplified the president’s repeated warnings about autocracies versus democracies.

On Sunday afternoon, Biden is expected to unveil, alongside other leaders, an infrastructure investment package targeting low- and middle-income countries designed to compete with China’s Belt and Road initiative.

Beijing has invested billions in building roads, railways and ports around the world to forge new trade and diplomatic ties. Biden has launched a similar program in the past, dubbing it Build Back Better World.

But with that name seemingly retired, the White House is renewing the effort in Germany.

Hingham Institution for Savings (NASDAQ:HIFS) sets new 12-month low at $270.50 Sun, 26 Jun 2022 09:00:46 +0000

Shares of the Hingham Institution for Savings (NASDAQ:HIFS – Get Rating) hit a new 52-week low on Friday. The stock traded as low as $270.50 and last traded at $281.95, with a volume of 13,063 shares traded in hands. The stock had previously closed at $276.00.

Separately, reduced shares of Hingham Institution for Savings from a “hold” rating to a “sell” rating in a Monday, May 23 research report.

The company has a debt ratio of 2.37, a current ratio of 1.33 and a quick ratio of 1.33. The company’s 50-day moving average price is $310.90 and its 200-day moving average price is $349.80.

Hingham Institution for Savings (NASDAQ:HIFS – Get Rating) last released its results on Thursday, April 14. The savings and loan company reported earnings per share (EPS) of $6.85 for the quarter. The company had revenue of $24.30 million for the quarter. Hingham Institution for Savings posted a net margin of 51.86% and a return on equity of 16.69%.

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 11. Shareholders of record on Monday, May 2 received a dividend of $0.57. This represents an annualized dividend of $2.28 and a dividend yield of 0.81%. The ex-dividend date was Friday, April 29. This is a positive change from Hingham Institution for Savings’ previous quarterly dividend of $0.53. Hingham Institution for Savings’ dividend payout ratio (DPR) is 7.98%.

A number of institutional investors have recently increased or reduced their stake in HIFS. Dorsey Wright & Associates bought a new position in Hingham Institution for Savings during Q1 worth around $40,000. Nisa Investment Advisors LLC increased its stake in Hingham Institution for Savings by 28.1% in the first quarter. Nisa Investment Advisors LLC now owns 205 shares in the savings and loan company valued at $70,000 after buying 45 more shares in the last quarter. Advisor Group Holdings Inc. increased its stake in Hingham Institution for Savings by 894.4% in the first quarter. Advisor Group Holdings Inc. now owns 1,432 shares of the savings and loan company valued at $115,000 after buying 1,288 additional shares last quarter. Allspring Global Investments Holdings LLC bought a new position in Hingham Institution for Savings in the first quarter, valued at around $149,000. Finally, Old Port Advisors bought a new position in Hingham Institution for Savings in the fourth quarter worth about $212,000.

About the Hingham Institution for Savings (NASDAQ:HIFS)

Hingham Institution for Savings offers various financial products and services to individuals and businesses in the United States. It offers savings, checking, money market, demand deposit and negotiable withdrawal order accounts, as well as certificates of deposit. The Company also offers commercial and residential real estate, construction loans, real estate loans, commercial loans and consumer loans.

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Is your money safe in a credit union? Fri, 24 Jun 2022 17:54:20 +0000

The Federal Deposit Insurance Corporation federally insures most traditional banks in the event of default. But credit unions are not considered traditional banks. Is a credit union FDIC insured?

Although credit unions offer the same financial products and services as traditional banks, a big difference between credit unions and banks is who insures their money. Even though credit unions are not FDIC insured, they are still federally insured.

For those who are current members of a credit union or considering joining a credit union, here are some things to know about protecting money deposited in a credit union.

Are credit unions FDIC insured?

Although federal credit unions are not insured by the FDIC, they are federally insured by the National Credit Union Share Insurance Fund. NCUSIF is overseen by the National Credit Union Agency, an independent federal agency established in 1970. NCUSIF has the full support of the US government in the event of an insured credit union’s failure.

According to the NCUA, no credit union member has lost money in federally insured accounts at a credit union. This is proof that money deposited in an NCUA-insured credit union account is just as safe as in an FDIC-insured bank account.

Which credit unions are insured by NCUA?

Those interested in joining a credit union should be aware that not all credit unions are NCUA insured. Some state-chartered credit unions carry private deposit insurance rather than NCUA insurance.

While the private deposit insurance of these state-chartered institutions can protect account holders’ money, having NCUSIF-backed accounts could make some credit union members more confident about the safety of their money.

So how do you determine if a credit union is NCUA insured? All NCUSIF-protected credit unions must display the official NCUA logo wherever an account can be opened, such as physical branches and their websites.

Is the NCUA as safe as the FDIC?

The NCUA and FDIC provide the same amount of coverage for deposit accounts. Both offer standard deposit insurance of $250,000 per individual depositor, per insured institution.

An account holder’s money in a deposit account is no more or less safe in a credit union than in a bank.

What types of accounts are insured by the NCUA and for how much?

The NCUA insures stock accounts — called deposit accounts at banks — such as checking, savings, certificates, and money market accounts. Accounts such as IRAs and trusts are also insured by the NCUA, as they are also considered stock accounts.

NCUSIF does not cover brokerage accounts, insurance products, or the contents of safe deposit boxes, as these are not stock accounts.

The NCUA offers standard deposit insurance of $250,000 per individual depositor, per insured credit union. Suppose an individual has deposited $250,000 in one credit union and $100,000 in another. All their money would be protected by NCUSIF. If that same person has $350,000 in stock accounts at a credit union, their $350,000 would only be insured up to $250,000.

Credit union members with equity accounts in multiple ownership groups will receive up to $250,000 in coverage for each ownership group. NCUSIF insures the following property groups up to $250,000 each:

  • Individual owner accounts
  • Joint accounts
  • Traditional IRAs, Roth IRAs, and Keogh Accounts
  • Revocable trust accounts
  • Irrevocable trust accounts

Say someone has an individual account of $50,000, a joint account of $200,000, and a Roth IRA of $250,000. All of these accounts would be covered up to $250,000 each if they were deposited at the same credit union.

If that same person increases the individual account to $300,000, it will only be insured up to $250,000. This is why it is essential to understand what is covered by NCUSIF and how much.

Some NCUA-insured credit unions also purchase private insurance to provide customers with higher coverage limits than the standard $250,000, which can benefit those who want to keep more money in a credit union.

The NCUA has a share estimator tool that credit union members can use to determine if their current share accounts are adequately covered.

What types of accounts are not insured by the NCUA?

The NCUA does not insure most unshared accounts. For example, brokerage accounts would not be insured.

To protect their money, an account holder at a credit union or bank should know which accounts are and are not insured. They should also understand how multiple deposit accounts at the same institution are insured.


Are credit unions FDIC insured? No, they are not, but they receive the same NCUA protection as FDIC banks. Credit union and bank customers need to know which accounts are insured and for how much to best protect their money.

Credit union members concerned about their NCUA coverage should use the NCUA Estimator Tool to determine if their deposits are fully insured. Account holders whose deposits exceed NCUA coverage limits must transfer money to another federally insured financial institution to ensure full coverage.


Here are answers to some common questions about credit union security.

  • Is your money safe in a credit union?
    • The NCUA federally insures all federal credit unions. The NCUA also insures some state-chartered credit unions, while others may be covered by private deposit insurance. According to the NCUA, no credit union member has ever lost money on a federally insured account at a credit union.
  • What are the disadvantages of credit unions?
    • The biggest drawback for credit unions is the membership requirements. Every credit union must have a membership defined in accordance with the Federal Credit Union Act of 1934. Therefore, not everyone is eligible to join every credit union.
    • Also, since many credit unions are small, some may not offer the variety of product options available at traditional banks.
  • How much of your money is insured in a credit union?
    • The NCUA provides standard deposit insurance of $250,000 per individual depositor, per insured credit union for each account ownership group.
    • Thus, an account holder would be insured for more than $250,000 per insured institution when they have deposit accounts in multiple ownership groups, such as in individual deposit accounts and an IRA.

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Four Egyptian political parties reject the country’s 2022/23 budget – Politics – Egypt Fri, 24 Jun 2022 10:59:02 +0000

File photo: House of Representatives of Egypt.

The four political parties – the Egyptian Social Democratic Party, El-Tagamoa, Al-Adl and the Reform and Development Party – announced that they had voted against the draft government budget for the financial year 2022/23 which was approved by the House of Representatives on Tuesday.

The four political parties have about 30 seats in the 568-seat parliament, which is almost 6% of the total.

Following a two-day plenary debate on June 21, House Speaker Hanafy El-Gebaly announced that a majority of lawmakers had approved the budget and development plan, but declined to give reading the names of the political parties that refused to approve the budget.

Mona Abdel-Nasser, parliamentary caucus leader of the Egyptian Social Democratic Party, said the party rejected the budget for the 2022/23 fiscal year because it did not show the government would stop borrowing from abroad.

“The budget shows that foreign borrowing rates have reached an all-time high and this has forced the government to declare its intention to sell public assets in exchange for loan cancellations,” Abdel-Nasser said, adding that “The value of the budget deficit has also reached half a trillion Egyptian pounds and that is an alarming level.”

Abdel-Nasser also complained that the development plan prioritizes the construction, transport and real estate sectors, to the detriment of productive sectors like industry and agriculture.

“The plan shows that the government aims to invest EGP 500 billion out of a total of EGP 1.4 trillion in the construction, transport and real estate sectors, with a 35% increase in expenditure, while the investments for agriculture and industry have decreased significantly,” Abdel-Nasser said.

Atef El-Meghawry, the leader of the parliamentary group of the left-wing El-Tagamoa party, also announced that the party had voted “no” to the budget and the state plan.

According to El-Meghawry, the new budget discriminates against the poor and favors the rich. “The budget shows the government’s insistence on sticking to liberalization policies that favor the rich and come at the expense of the poor.”

El-Meghawry also expressed concern that international oil and wheat prices projected in the budget were too low and that this would increase the budget deficit. “For example, the budget set the price per barrel of oil at $80, while the trading price in international markets currently stands at $105,” El-Mehgawry said.

Abdel-Moneim Imam, deputy and president of the Justice party (Adl), also expressed his rejection of the budget and the plan.

According to Imam, the new budget and the plan do not match the ambitions of the Egyptians. He said debt service costs have become too high, now amounting to 8.2% of GDP, meaning a heavy debt burden for generations to come.

“This is a budget to be spent on servicing debt and not spending on productive sectors or on health care and education,” Imam said.

For different reasons, the Liberal Reform and Development Party rejected the party for allocating too much money to subsidies. Ayman Abul-Ela, the party’s parliamentary spokesman, lamented that the government refused to scrap subsidies in favor of cash transfers.

“Cash transfers will help the poor much more than grants,” Abul-Ela said.

Other opposition parties have approved the budget and the development plan.

Al-Wafd, Egypt’s oldest party, said it voted “yes” to the budget even though it fell short of the ambitions of most Egyptians. “In the midst of the current global economic crisis, triggered by the coronavirus pandemic and the war in Ukraine, we believe that this budget is the best option to address the negative impact of global economic crises on Egypt,” said said Al-Wafd’s parliamentary spokesman, Soliman Wahdan.

The three parliamentary majority parties of Mostaqbal Watan (Future of the Nation), the Protectors of the Nation (Homat Watan) and the Republican People’s Party also endorsed the budget, saying the government was able to overcome the coronavirus crisis and that its discretionary fiscal policies will also help Egypt overcome the Ukrainian crisis.

The next stage of the budget and development plan for the 2022/23 financial year must be ratified by President Abdel-Fattah El-Sisi before it comes into force on July 1.

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