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Boris joins the City protest over proposed non-EU migrant cap

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia MAYOR of London Boris Johnson has written to home secretary Theresa May to express his concern over the economic impact of the forthcoming Tory cap on migrant workers from outside the EU.Johnson told the BBC’s Andrew Marr show that it was “reasonable to try and get a grip” on immigration.But he added that the problem with the cap was that companies, particularly accountancy firms, banks and law firms, would have extreme difficulty bringing in staff needed “to keep London’s economy going”.The government has already faced a backlash from corporates over the prohibition of intra-company staff moving into and out of the UK, often on a temporary basis, which they argue would damage their ability to be flexible. whatsapp whatsapp Sunday 12 September 2010 11:17 pm Boris joins the City protest over proposed non-EU migrant cap Sharecenter_img KCS-content More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com Tags: NULL Show Comments ▼last_img read more

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Banks scared by Cantona

first_img whatsapp Share KCS-content Read This NextFresh Fruit Sushi: Recipes Worth CookingFamily ProofCreamy Pumpkin Soup: Delicious Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofA Once in 17 Years Cicada Event in Princeton, New JerseyFamily Proof Sunday 5 December 2010 11:48 pm Tags: NULL whatsapp Show Comments ▼ FOOTBALL legend Eric Cantona has sparked fears of a banking crisis in France by urging people to withdraw all their money.The French government was forced to respond to Cantona’s calls for a mass run on the nation’s banks tomorrow – the date coincinding with his famous number seven football shirt.The enigmatic former Manchester United forward said: “We have to change the way we do things nowadays. Talking of revolution, I don’t mean we are going to pick up guns and go out to kill people. Revolution is very simple to do nowadays.“What’s the system? The system revolves around banks. The system is built on the banks’ power. So it can be destroyed by the banks. Instead of having three million people going out to demonstrate with a placard, those three million people go to their bank branch, they withdraw their money and the banks crumble.“You go to your bank in your village and you withdraw your money.”French finance minister Christine Lagarde responded with the pithy: “There are those who play football magnificently, I wouldn’t dare to try. I think it’s best for everyone to stick to their own speciality.” Banks scared by Cantona last_img read more

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Video competition to win £30,000 web package

first_img  28 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis London communications agency Precedent is celebrating its 20th anniversary by offering £30,000 worth of its digital services to the charity that creates the best video arguing why it should receive the prize.It is inviting UK charities of any size to create a short video, no more than three minutes long, and upload it to YouTube. They should then send Precedent the link with details about the charity via the competition microsite.Entries will be judged by an expert panel including Media Trust, Third Sector magazine, Precedent Director and Artist Ian Emes (Duran Duran – The Chauffeur, Pink Floyd – The Dark Side of the Moon). Advertisement Video competition to win £30,000 web package Tagged with: Digital YouTubecenter_img Howard Lake | 11 November 2009 | News All videos will be showcased online, and a shortlist of six charities will be made when the competition closes on 10 January 2010.http://giveaway.precedent.co.uk/ About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.last_img read more

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Anti-imperialists defend Venezuelan Embassy from coup supporters

first_imgMay 4 — Several hundred people answered the call to mobilize anti-imperialist forces at the Venezuelan Embassy today to defend it from increasingly violent right-wing, fascist supporters of the U.S.-backed coup attempts in Venezuela. CODEPink and ANSWER led the demonstration, which had strong participation from D.C.-area activists, along with others from several East Coast cities. The International Action Center and the No War On Venezuela Campaign helped rally participation and brought signs and chants.For several weeks, a determined group of Venezuela solidarity activists, known as the Embassy Protection Collective, have steadfastly held control of the embassy. They have done so at the invitation of the legitimate, democratically elected government of Venezuela, led by President Nicolás Maduro, after the Venezuelan staff was forced to leave. The movement to defend the embassy has repeatedly resisted attempts by U.S. police agencies and right-wing forces gathered outside the embassy to force their eviction. The authorities aim to turn Venezuela’s embassy over to U.S.-backed coup forces. Beginning on April 30, following the announcement of the coup attempt by U.S. puppet Juan Guaidó in Venezuela and its rapid failure, the Embassy Protectors and other anti-imperialists who gathered to defend the embassy have been besieged by right-wing forces. Anti-war activists resisted the rightists’ attempted use of violence and other means to gain control of the embassy. The rightists have become increasingly more aggressive throughout the week and have hurled racist, sexist and anti-LGBTQ slurs at the anti-war activists. They have also carried out physical attacks, including trying to storm their way into the embassy, often in the middle of the night. Their belligerence has hampered the delivery of food, medicines and other supplies to the Embassy Protectors. That the U.S. government allows criminal conduct at the embassy of a sovereign nation is in direct violation of international laws and treaties the U.S. has signed. It also violates Washington, D.C., law; the Embassy Protectors have established their legal residency in the embassy office based on their agreement with the Venezuelan government. The right wing is carrying out these attacks with a green light from the Secret Service, D.C. police and other state agencies that maintain an ongoing presence at the embassy. The cops violently arrested several of the supporters of the Bolivarian Revolution who have mobilized in the last week to protect the embassy. The right-wing coup supporters, meanwhile, have attacked protesters and defaced the embassy without police interference.Demonstration challenges right-wing hold on embassy groundsThe May 4 demonstration was initially called to take place directly in front of the embassy. As organizers attempted to open a canopy tent to claim space, they were surrounded by right-wing coup supporters, Secret Service, Homeland Security and D.C. police. The coup supporters pushed, shoved and formed a physical barrier, preventing the demonstrators from setting up the canopy. Police arrested two solidarity activists during the altercation.The cops and Homeland Security had lined up cordons on opposing sides of a narrow street with barricades. This guaranteed the right wing space at the doors of the embassy and kept supporters across the street. Nevertheless, spirited anti-imperialist chants drowned out the opposition for hours. The active role of the U.S. State Department and its police agencies in this orchestrated siege of the embassy was clear in their totally favored treatment of the reactionary forces. The police agencies ran the show. As has happened during other U.S. wars, the authorities gathered the rightists to do the barking and growling. Then the cops act like they are neutrals. It is a fraud, just as the coup attempt was a fraud.One of the rightists’ main tactics to frustrate the movement defending the Venezuelan Embassy has been to blast music and high-pitched sirens from  bullhorns and compressed air horns at all hours. When they are close to anti-war demonstrators, they aim these devices directly at their faces. Ear plugs become an essential defense against this continuing assault. At night, the rightists project powerful lights and strobes at the embassy.Pockets of anti-imperialist forces were able to establish a presence throughout the afternoon on the grounds of the embassy. Medea Benjamin of CODEPINK used a creative tactic several times to lead a group that linked arms and moved through the mob of coup supporters and onto the grounds circling the embassy building, challenging the opposition’s hold. This tactic boosted the morale of those inside the embassy, who greeted this action with raised fists and solidarity waves out the open windows. Huge banners were hung from the roof. Battle lines drawn, solidarity neededThe struggle to defend the Venezuelan Embassy has international implications for the struggle on the ground in Venezuela. The Venezuelan masses have held strong in thwarting numerous U.S.-backed coup attempts in recent months, taking to the streets often to defend the Bolivarian Revolution. Anti-imperialist forces here in the U.S. must prepare for a long struggle and do whatever we can to mobilize solidarity on the ground in D.C. and in other cities across the country.There is an ongoing campaign to call and email the State Department, Secret Service and D.C. government officials to demand they stop collusion with the right wing and allow supplies to be delivered to the embassy. There will likely be more calls for forces to mobilize to D.C. to bolster the defense of the Venezuelan Embassy in coming days and weeks. Workers World will continue to circulate these appeals. Our movement must do all it can to ensure that the group inside is supported to prevent the embassy from falling to the rightist forces.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

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McDonalds Group Members Talk About Their Commitment to the Group’s Scholarship Award

first_imgGiving Back McDonalds Group Members Talk About Their Commitment to the Group’s Scholarship Award By VINCE BRYANT, Mentoring & Partnership for Youth Development Program Coordinator Published on Monday, August 22, 2016 | 1:05 pm Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Community News EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Community News Business News Herbeauty10 Ways To Power Yourself As A WomanHerbeautyHerbeautyHerbeautyYou’ll Want To Get Married Twice Or Even More Just To Put Them OnHerbeautyHerbeautyHerbeauty6 Strong Female TV Characters Who Deserve To Have A SpinoffHerbeautyHerbeautyHerbeautyThe Most Heartwarming Moments Between Father And DaughterHerbeautyHerbeautyHerbeautyRed Meat Is Dangerous And Here Is The ProofHerbeautyHerbeautyHerbeautyWhat’s Your Zodiac Flower Sign?HerbeautyHerbeauty Name (required)  Mail (required) (not be published)  Website  7 recommended0 commentsShareShareTweetSharePin it Front row: DaShon Pulley, John Pointer, Isaiah Irby, Michael Hawkins, D’Mario Lundy, McDonalds Manager Valessa Gallegos. Back row: William Greer, O.T. Triplett, George Jenkins, Lloyd Graves, Tecumseh Shackelford, Ernest Johnson, and Ben Davis. Contributors not photographed: Velton Paggett, Councilman Tyron Hampton Jr, and Bill BradleyThe McDonalds group is a group of men that meet every morning at McDonald’s on Lincoln Ave. and Woodbury Rd. in Altadena. Their meetings usually consist of current events and other popular community topics. These topics were all just to invoke thought and conversation until the topic of scholarship money for the young men in our community came up. After their discussion, realizing that our young men needed immediate help, the group decided to take action. So, five years ago they decided to start the McDonalds Men’s Group Scholarship Award. This award has served many young men over this period and continues to do so.This year, five young men were selected from John Muir High School. These students include DaShon Pulley, D’Mario Lundy, John Pointer, Michael Hawkins and Isaiah Irby which were all very deserving of the award and highly appreciative of the assistance to go on and do great things in their lives.I took the opportunity to visit the McDonalds Group one morning and ask some of the men what made them so adamant about getting involved with this scholarship.“I got involved because of the idea to help encourage the young men in our community to further their education was brilliant to me. It’s also great to see these same young men come back and help our community,” said Ernest Johnson a longtime community member.Another member of the group, O. T. Triplett stated “I can’t think of a better scholarship to be a part of. It’s a great opportunity to get the young men to better themselves. I know it isn’t enough to get completely get them through college but anyway we can help is important to the community.”It’s a great thing to not only see these men giving back to their community but for them to also be so excited about it is simply amazing. These are the types of that we need to uplift the youth in our community. faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimescenter_img Make a comment Top of the News Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday First Heatwave Expected Next Week More Cool Stuff Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Your email address will not be published. Required fields are marked * Subscribe Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadenalast_img read more

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Brundidge fights to keep local landfill out of Coffee County hands

first_img The City of Brundidge filed suit in January in the Pike County Circuit Court to prevent the sale of the landfill by the bankruptcy trustee to Brundidge Acquisitions LLC, which has secured up to $6 million in funding from the Coffee County Commission. Brundidge officials filed suit locally after legal efforts to block the sale through the bankruptcy court in New Jersey failed. Per a signed agreement in that court, the trustee for Transload America has until May 1 to complete the transfer of the landfill to Brundidge Acquisitions LLC for a sum of $4 million.However, the Coffee County Commission, filed a motion to dismiss the complaint on March 7, alleging the City of Brundidge Solid Waste Disposal Authority and the City of Brundidge failed to file a notice of claim with the Coffee County Commission before beginning action.Brundidge officials filed a counter-claim this week, and Thomas said officials are waiting for the court to take action. Remember America’s heroes on Memorial Day Troy falls to No. 13 Clemson You Might Like A RUNWAY OF HOPE Chelsey Holland, a student at Pike County High School, is hosting “Runway of Hope,” a fundraiser for Children’s of Alabama…. read more By Jaine Treadwell Plans underway for historic Pike County celebration Brundidge fights to keep local landfill out of Coffee County hands Print Article Rod Morgan, Coffee County administrator, was contacted but would not comment due to the fact that the case is in litigation. Published 11:00 pm Friday, March 15, 2013 Skipcenter_img The City of Brundidge Solid Waste Disposal Authority and the City of Brundidge continue to challenge the Coffee County Commission and Brundidge Acquisition LLC’s attempts to acquire a landfill located within the city of Brundidge.Brundidge City Manager Britt Thomas said that the entities contend that the Coffee County Commission lacks the authority to grant public funds to Brundidge Acquisitions for the purpose of purchasing the landfill and that Brundidge Acquisition lacks the authority to receive funds from the Coffee County Commission for the purpose of acquiring the landfill.“We believe that Brundidge Acquisitions lacks the authority to lawfully operate the Brundidge landfill without a host agreement from the City of Brundidge,” Thomas said. Email the author By The Penny Hoarder Sponsored Content The Penny Hoarder Issues “Urgent” Alert: 6 Companies… Book Nook to reopen Pike County Sheriff’s Office offering community child ID kits Latest Stories Around the WebMd: Do This Immediately if You Have Diabetes (Watch)Blood Sugar BlasterIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier LivingHave an Enlarged Prostate? Urologist Reveals: Do This Immediately (Watch)Healthier LivingWomen Only: Stretch This Muscle to Stop Bladder Leakage (Watch)Healthier LivingRemoving Moles & Skin Tags Has Never Been This EasyEssential HealthTop 4 Methods to Get Fortnite SkinsTCGThe 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

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A long road ahead for office landlords

first_img“You’ve seen almost 650,000 square feet of former retail or hotel space come back to the market as offices because this has affected so many other asset types,” said Colliers’ Wallach. The issue, he added, is that it “puts more supply pressure” on Manhattan’s 526 million square feet of existing office space.The conversion crunchThe Real Estate Board of New York — whose members include some of the largest office landlords — recently proposed that the city and state allow developers to more easily convert offices into apartments. Across the five boroughs, REBNY has identified 210 million square feet of office space that could be converted into apartments.  In past recessions, converting vacant offices into residential units successfully transformed Lower Manhattan into a lively mixed-use neighborhood. But office-to-residential conversions seem unlikely in this downturn, argued Carl Weisbrod, who led the neighborhood’s redevelopment effort in the 1990s and again after 9/11 as the founding president of the Alliance for Downtown New York. “I think what we’re going through here is more of a cyclical issue than a structural issue,” Weisbrod said. He added that while some Manhattan office buildings (and hotels) may be ripe for redevelopment, necessary government incentives won’t be available as the city struggles to balance its pandemic-ravaged budget. “The incentives, if they’re offered, should really be offered only for affordable housing,” Weisbrod said. Concerns over a fiscal crisis are also mounting in Chicago. Facing a $1.2 billion deficit in fiscal 2021, Mayor Lori Lightfoot proposed a $94 million property tax hike to balance her budget plan, which was narrowly approved late last month. At the same time, Cook County is going through a reassessment of its real estate values. Commercial property owners have been sitting on the sidelines as the real impacts won’t be seen until the middle of next year, said Laura Dietzel, a senior real estate analyst with the accounting services firm RSM US. “Certainly, the state and local tax picture is going to be very important,” for the office sector’s recovery, she said. “Not just in Chicago but on the national level.”Roads to recovery The general consensus throughout the commercial real estate industry is that once vaccines are widely distributed, the office sector will finally be on track to rebound. Until then, however, the sector’s overall availability rate could further increase as more office space is likely to come on the market for subleasing, said Nicole LaRusso, CBRE’s director of research and analysis. “Our expectation is that until tenants — occupiers — recall their workers to the office, we will not likely to see occupiers making commitments to take on more space,” she said. “And we don’t think they’re going to recall workers to the office until people feel that commuting and being in the office together is safe.” As the downturn continues into next year, landlords will be required to adopt even more, said David Falk, Newmark’s president for the New York tri-state region. “With all the tenants cutting back and shrinking, there will be adjustments to the economics, to the rents, and more free rent and more tenant improvement allowances,” he said. “Landlords will probably have to spend more money to entice tenants to move to their buildings.” Industrious CEO Jamie Hodari, who has been partnering with building owners to create more flexible office space, said smart landlords are trying to take advantage of the “work from anywhere” trend. On the tenant side, Jack McKinney Jr., a commercial broker with Cushman & Wakefield in Chicago, said employers “will be looking to ‘ammenitize’ in a way that encourages people to come back to the office.” Whatever it takes, having employees return to the office is key for a business to grow, Empire State Realty’s Malkin argued. “The fact that people have been able to accomplish certain tasks from home does not mean they’ve been able to start new businesses, acquire new customers — they’ve just been able to maintain,” he said. “It’s very clear that people cannot build teams, [build work] culture, share ideas without being with each other.”  Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Share via Shortlink Manhattan’s Paramount Group received an unsolicited takeover bid early last month for about two-thirds of what the company was worth prior to Covid. Just a few weeks later, the real estate investment trust’s board unanimously rejected the offer from activist investor Bow Street, noting that its offer was “inadequate and significantly undervalues” the office landlord run by Albert Behler. The hedge fund’s bid, however, was in line with Paramount’s stock price, which plunged at the onset of the pandemic and has hovered at just under $10 a share since. And the REIT, which has a market cap of about $2 billion, may still be on the table for a higher offer. “Our board and management team remain open-minded,” Behler wrote in a letter to Bow Street’s managing partners. It’s a tense reality for the pandemic-battered landlord whose trophy office buildings in Manhattan and San Francisco remain mostly empty as the vast majority of employees continue to work remotely. Meanwhile, Paramount isn’t the only office landlord in hot water. Vornado Realty Trust recently unveiled plans to reduce compensation and shed 70 jobs to lower its annual overhead costs by more than $35 million. Empire State Realty Trust, likewise, announced plans to lay off six employees and furlough another 156 as part of the firm’s cost-cutting measures, after reporting a net loss for the second consecutive quarter. “We need to get through a very difficult point now,” Anthony Malkin, Empire State Realty’s chairman and CEO, said in an interview. “I’m highly confident. I’m also a realist. … We probably won’t see the bottom until the first quarter of 2022.” Paramount declined to comment for this story. Vornado did not respond to requests for comment. The availability of office space in the biggest markets around the country hit new highs in recent months, as a growing number of tenants look to weather the pandemic and economic fallout by subleasing space. At the same time, struggling hotels and retail assets are being converted into new offices, adding to a potential oversupply in major cities like New York, Chicago, Los Angeles and San Francisco.  Manhattan’s office availability rate was at more than 13 percent last month, the highest level since 2003, with Midtown and Midtown South setting historic records of 14.4 percent and 12.8 percent respectively, according to Colliers International. “It is significant to acknowledge it,” said Franklin Wallach, Colliers’ senior managing director of New York research. “But of course, we are in very unique times right now with Covid-19.”The availability of office space in Chicago’s central business district, meanwhile, rose to a rate of more than 22 percent at the end of the third quarter, according to CBRE. In Los Angeles County, the availability rate was at roughly 21 percent as of early December, a recent report from Avison Young found. And market conditions could get worse before they improve. Many workers who finally returned to their offices this fall have retreated again, facing a resurgence of Covid infection rates. Industry experts say the latest vaccine news offers a dim light at the end of the tunnel, but a long road to recovery is still ahead. The WFH reckoning In an effort to lead by example, SL Green Realty CEO Marc Holliday, who lives in Scarsdale, has been commuting by train since March. During SL Green’s third quarter earnings call, Holliday lamented the low physical occupancy rate of his firm’s office portfolio. “We’re still … right around the city average of probably 15 percent to 20 percent back to office work,” he said. “That means 80 percent, 85 percent of the people that work in office buildings are still home, and that’s frustrating.”  SL Green declined to comment. During recent earnings calls, executives of other office landlords acknowledged that while most tenants have been keeping up with rent payments, the majority have also kept their workers remote. Building owners maintain that they’re creating safe office environments, in an effort to lure back workers, but the recent surge of Covid cases is once again sending people home. And one contender in New York City’s 2021 mayoral race has added to the list of grievances. “We owe it to our kids to do everything we can to keep schools safe and open,” the city’s comptroller, Scott Stringer, tweeted in mid-November. “Shut down office buildings.” Nearly nine months into the pandemic, the physical occupancy rate of offices in the country’s top 10 metro markets remains at an average of about 25 percent, according to Kastle Systems, which aggregates data from its swipe card door access system.Countless office buildings around the U.S. have remained almost completely deserted since the beginning of the pandemic, and the return rates among office workers in San Francisco, New York and Chicago, were among the lowest as of Dec. 2, at 12.8 percent, 14.3 percent and 16.6 percent, respectively. Los Angeles fared better than average at 31.7 percent. For landlords, physical occupancy matters, said Alex Goldfarb, a senior REIT analyst at Piper Sandler. Similar to Malkin, he predicted that office leasing in major markets like New York will begin to normalize in 2022. “You really need all the employees to come back to work,” Goldfarb said. “Then employers feel better about how they’re going to handle things and they’ll be able to make growth decisions on leasing.” Peter Brindley, Paramount’s executive vice president of leasing, has argued the same point. “One of the things that we subscribe to entirely is that physical occupancy will generate new leasing activity,” he said during the REIT’s third quarter earnings call in late October. Pandemic pressuresCompared to hospitality and retail, the office sector has appeared more insulated from the pandemic. But when dealing with office tenants that are nearing the end of their leases, landlords have had to maneuver carefully. The number of short-term lease extensions has rapidly increased during the pandemic as both property owners and tenants avoid making decisions that could prove to be too concrete in the year ahead, according to industry sources. At the same time, space available for sublease continues to flood major cities around the country. As of Nov. 30, Manhattan’s available sublease space was more than 24 percent of the market’s total availability, at about 17.3 million square feet, signaling a “glut” of inventory on the near horizon, Colliers’ Wallach noted. In Chicago’s central business district, the amount of sublease space on the market has surpassed 5.3 million square feet, the highest on record and about 15 percent of total availability, according to Cushman & Wakefield. And the amount of available sublease space in Los Angeles County in early December was 7.6 million square feet, about 17 percent of total availability, according to Avison Young. That’s also the highest on record, exceeding the 6.5 million square feet in sublease inventory in 2009. Office landlords have faced a “lot of downward pressure” on pricing as they contend with the “enormous amount of subtlet office available,” said Manus Clancy, senior managing director of the financial data firm Trepp. In turn, the amount of free months of rent — typically offered by landlords at the beginning of a new lease — has spiked by 30 percent nationwide since the pandemic hit, according to a recent report co-authored by Trepp and CompStak. Some building owners have also boosted their tenant improvement allowances, said Jonathan Larsen, a commercial broker with Avison Young based in Los Angeles. Office landlords would prefer to give out more concessions as long as they can maintain their asking face rent because “they are focused on preserving the value of their property,” said Artree Maharajh, Avison Young’s research manager for Los Angeles County. Local landlords are holding out hope that the market will begin to recover once enough people get vaccinated, Maharajh said. “They’re not trying to do the deals any lower than they need to because, at some point, they’re going to need to sell the building,” he said. But the far-reaching impacts of Covid could make a full recovery tricky, as tech firms continue to lead the charge on remote working as a way to cut costs and give workers a greater sense of flexibility. Software giant Salesforce, for example, recently told analysts that it plans to consolidate and sublease some of its office space as more people work from home. On top of that, some owners of struggling hospitality and retail properties are adding more supply to an already saturated market. Major hotel chains like Marriott and Hilton and boutique brands like the Wythe Hotel in Brooklyn are now promoting their hotel rooms as makeshift offices. Meanwhile, a 377,000-square-foot retail space on Manhattan’s Far West Side has been marketed for office use since this summer. That includes 190,000 square feet formerly occupied by the Neiman Marcus department store at 20 Hudson Yards.  Facebook, which inked a lease for 1.5 million feet of space in the megadevelopment last year, was said to be interested in the space. But a spokesperson for Facebook told The Real Deal this month that it’s not considering the space. Related Companies and Oxford Properties, the co-developers of Hudson Yards, did not respond to requests for comment. TagsOffice Leasingparamount groupVornado Realty Trustlast_img read more

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Greencoat to acquire stake in four US wind farms from Germany’s RWE

first_img RWE will continue to remain as the operator of the wind farms. (Credit: RWE) UK investor Greencoat has signed an agreement with German energy company RWE to acquire a 24% stake in four onshore wind farms in the US.Three of the wind farms included in the transaction are currently in operations, while the remaining project is under construction.The stake, which is equivalent to 207MW capacity, will be bought by Greencoat for $160m.The transaction is expected to be completed in the first quarter of 2021. Upon completion, RWE will continue to remain as the operator of the wind farms that are located in Texas.The company plans to use the sale proceeds to fund its growth in the renewable energy business. It aims to expand its renewables portfolio to more than 13GW by the end of 2022, with an investment of €5bn.RWE stated: “The transaction extends the successful relationship between RWE and Greencoat to the U.S.“The company holds already shares in RWE UK projects, namely in the offshore wind farms Humber Gateway and Rhyl Flats as well as in the onshore wind farms Little Cheyne Court, Lindhurst and Middlemoor.“The agreement with Greencoat demonstrates the attractiveness of RWE’s portfolio in North America.”Four wind farms have a total capacity of 861MWWith a total capacity of 861MW, the four wind farms included in the transaction are Stella, Cranell as well as East and West Raymond.Commissioned in 2018, the Stella wind farm has a capacity of 201MW, while the 220MW Cranell wind farm and the 200MW East Raymond wind farm commenced operations last year.Following the completion of the transaction, the assets will be 51% owned by Algonquin Power & Utilities, 25% by RWE and 24% by Greencoat.Recently, RWE Renewables has taken an investment decision for the construction of 76MW of onshore wind farms in Europe. The stake, which is equivalent to 207MW capacity, will be bought by Greencoat for $160mlast_img read more

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Town Meeting on Saturday to Address Bay Dredging

first_imgSnug Harbor lacks water at low tide on Friday, June 25.Mayor Jay Gillian will hold a town hall meeting 1 p.m. Saturday, June 27, at the Howard. S. Stainton Senior Center (at the Ocean City Community Center) to talk about bayside dredging.The meeting is open to anybody interested in learning more about efforts to dredge lagoons and channels on the bay side of Ocean City that are too shallow for boat traffic or even for swimmers during many parts of the tide cycle. Marine access is a big investment for waterfront property owners and a prime attraction for visitors.Ocean City has committed millions in funding to dredging projects, but work has been at a standstill since 2012 when the city’s only approved disposal site was filled to capacity.“I’m beyond anger and agitation,” Gillian said at a June 12 City Council meeting of the quagmire of bureaucracy and environmental regulations that impede the restart of Ocean City’s dredging program.“It’s an emergency situation more than ever,” he said.Gillian promised the town meeting would address the issue “soup to nuts”: the city’s actions to date, the obstacles it faces, plans and potential costs. He will be joined by members of City Council.Council agreed to spend $2.7 million to haul material away from the approved spoils site in the marshes near 34th Street to make room for at least some new dredging. But even that project is bogged down, Gillian said.__________Sign up for OCNJ Daily’s free newsletter and breaking news alerts__________He said equipment has been staged at the the site (Confined Disposal Facility No. 83) for weeks, but the contractor can’t start work until the state returns environmental tests on the material (which already required testing as it was pumped onto the site).The plan calls for hauling of 50,000 cubic yards to Wildwood, which has agreed to accept that material to help cap a landfill. (Read more: Contractor Still Waiting to Haul Dredge Spoils to Wildwood.)Bids are out for a contractor to dredge lagoons between Eighth and Ninth streets (Snug Harbor) and between 16th and 17th streets (Carnival Bayou). The Snug Harbor project would use a separate spoils site under the Ninth Street Bridge.Gillian’s administration has estimated that the city would have to dredge about 300,000 cubic yards of material to complete an Ocean City project “from tip to tip.”In a 2012 project that was never completed because the disposal site filled up, Hydro-Marine Construction removed 73,000 cubic yards of dredged material under a $1,829,655 contract that called for the dredging of 106,000 cubic yards between 15th and 34th streets.A separate spoils site near the Ninth Street Bridge is approved, but for an amount (4,000 to 6,000 cubic yards) far less than what Ocean City had anticipated.City Council has approved $5 million ($4.75 million of it to be borrowed) in spending for dredging this year.last_img read more

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Asda sells 50p bloomer

first_imgAsda is to sell its large white bloomer for 50p as part of a cut-price promotion this weekend.The 800g bloomer – which usually retails for £1.09 – is one of 10 products being sold for 50p until Sunday. Other goods include fruit, salad ingredients, own-brand sausages, eggs and butter. Asda said the offer is designed to help customers “cut the cost of the weekly shop and fight back against inflation”.Food trading director Darren Blackhurst said value was more important than ever to shoppers “with the credit crunch starting to bite and household bills on the rise”.The promotion runs from Friday 27 June to Sunday 29 June.last_img read more

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