Money – Sea Tow CT http://seatowct.com/ Thu, 30 Sep 2021 15:22:24 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://seatowct.com/wp-content/uploads/2021/05/cropped-icon-32x32.png Money – Sea Tow CT http://seatowct.com/ 32 32 IRS OK Deductions for PPP Funded Expenses https://seatowct.com/irs-ok-deductions-for-ppp-funded-expenses/ https://seatowct.com/irs-ok-deductions-for-ppp-funded-expenses/#respond Thu, 08 Apr 2021 02:38:29 +0000 https://seatowct.com/irs-ok-deductions-for-ppp-funded-expenses/ Congress, after initially hesitating on legislation to clarify the deductibility of expenses funded by Paycheck Protection Program (PPP) loans, explicitly allowed the deduction of these expenses in the adopted Consolidated Appropriation Bill. in late 2020. In response, the IRS officially canceled its advance advice and will allow a federal income tax deduction for expenses paid […]]]>

Congress, after initially hesitating on legislation to clarify the deductibility of expenses funded by Paycheck Protection Program (PPP) loans, explicitly allowed the deduction of these expenses in the adopted Consolidated Appropriation Bill. in late 2020. In response, the IRS officially canceled its advance advice and will allow a federal income tax deduction for expenses paid with a canceled P3 loan.

The CARES Act was silent on whether expenses paid with the proceeds of the PPP loan were deductible. Last May, the IRS released Income Notice 2020-32, which stated that business expenses paid with P3 loans would not also generate federal tax deductions. A bipartisan group of U.S. senators introduced legislation in May to allow such deductions, but Congress did not enact the policy until December with the passage of the last pandemic relief bill included in the law. most recent credit. Taxpayers can benefit from these deductions both for PPP loans received under the initial PPP program created in the CARES Act and for PPP loans received under the renewed PPP program created in the Appropriations Act.

On January 6, the IRS issued Revenue Ruling 2021-2, which rescinds both Notice 2020-32 and a December Revenue Ruling, to reflect current law. Previous IRS guidelines prevented “double deductions” and confirmed a long-held position in tax policy that; if a taxpayer receives non-taxable income (here, the proceeds of the conditional repayment PPP loan), that taxpayer cannot also deduct the expenses (here, the expenses covered by the proceeds of the PPP loan) incurred to generate that income. As provided for in the legislation proposed in May, this “double deduction” allowance applies only to relief programs under the CARES Act and does not serve as a general repeal of the double deduction ban.

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Hyundai Santa Fe Plug-in Hybrid 2022 Reviews, Price, Specs https://seatowct.com/hyundai-santa-fe-plug-in-hybrid-2022-reviews-price-specs/ https://seatowct.com/hyundai-santa-fe-plug-in-hybrid-2022-reviews-price-specs/#respond Thu, 08 Apr 2021 02:38:18 +0000 https://seatowct.com/hyundai-santa-fe-plug-in-hybrid-2022-reviews-price-specs/ Price $ 40,535 $ 39,465 $ 39,595 $ 40,265 KBB.com rating 4.7 Consumer Rating Fuel economy Comb 33 MPG | 76 MPGe comb City 24 / Highway 31 / Comb 27 MPG City 22 / Highway 27 / Comb 24 MPG Security clearance Number of places 5 7 5 7 Basic warranty Power Motor 4 […]]]>

Price

$ 40,535

$ 39,465

$ 39,595

$ 40,265

KBB.com rating

4.7

Consumer Rating

Fuel economy

Comb 33 MPG | 76 MPGe comb

City 24 / Highway 31 / Comb 27 MPG

City 22 / Highway 27 / Comb 24 MPG

Security clearance

Number of places

5

7

5

7

Basic warranty

Power

Motor

4 cylinder, hybrid, turbo, 1.6 liter

4 cylinder, hybrid, turbo, 1.6 liter

4-Cyl, GDI, Turbo, 2.5 liters

Transmission

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Commercial Real Estate Hall of Fame: Alan Scheufler from Ulmer and Bern https://seatowct.com/commercial-real-estate-hall-of-fame-alan-scheufler-from-ulmer-and-bern/ https://seatowct.com/commercial-real-estate-hall-of-fame-alan-scheufler-from-ulmer-and-bern/#respond Thu, 08 Apr 2021 02:38:08 +0000 https://seatowct.com/commercial-real-estate-hall-of-fame-alan-scheufler-from-ulmer-and-bern/ Each year, Midwest Real Estate News inducts a new class into its Commercial Real Estate Hall of Fame. Last year – despite the challenges it brought – was no exception. Here’s a look at one of our newest Hall of Fame members, Alan Scheufler, partner at a law firm. Ulmer & Bern in Cleveland. Alan […]]]>

Each year, Midwest Real Estate News inducts a new class into its Commercial Real Estate Hall of Fame. Last year – despite the challenges it brought – was no exception. Here’s a look at one of our newest Hall of Fame members, Alan Scheufler, partner at a law firm. Ulmer & Bern in Cleveland.

Alan Scheufler has achieved some of the highest honors in his legal career, earning the highest rating, AV Preeminent, of Martindale-Hubbell, and being named one of America’s top lawyers in banking and financial law.

This is not surprising to Scheufler’s peers and clients. They know that this business, finance and real estate lawyer with over 34 years of experience works tirelessly to achieve the best results for his clients. They also understand that Scheufler has a keen legal mind and a willingness to constantly educate himself on new trends and issues.

Scheufler’s practice focuses on lenders who have complex credit issues and borrowers who need financing to continue their business but also need a hands-on, solution-oriented approach. He represents large financial institutions, community banks, investment funds, and borrowers and developers. He has handled financial transactions such as equity investments, syndications, club-deals, lines of credit, term loans, real estate acquisitions, real estate construction loans and refinancings.

Private and mid-sized business owners and developers also turn to Scheufler when they need to maximize the value of their investments, grow their businesses, create jobs, or increase profits.

Scheufler also has experience with other real estate development finance tools, including incremental tax financing, historic tax credits, new market tax credits, and other sources of funding for business expansion, real estate development and brownfield cleanup.

Why has Scheufler been so successful? He emphasizes his concern for giving practical advice to clients.

“My focus is on providing practical solutions based on deep experience that the owner or developer can consider,” he said. “Sometimes practical business solutions are far superior to technical legal solutions. “

While Scheufler has built a flourishing legal career, he has also found the time to give back to his community. He served as President of Growth Capital Corporation from 2017 to present, and was also Vice President of the organization from 2005 to 2016. He has also served as President, Vice President and Board Member for the Brecksville School District. Broadview Heights. education.

In his spare time, Scheufler enjoys traveling with his family, exploring US national parks, and volunteering with non-profit groups.

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Summit Midstream Partners, LP Announces Completion of Financing for Double E Pipeline Project https://seatowct.com/summit-midstream-partners-lp-announces-completion-of-financing-for-double-e-pipeline-project/ https://seatowct.com/summit-midstream-partners-lp-announces-completion-of-financing-for-double-e-pipeline-project/#respond Thu, 08 Apr 2021 02:37:51 +0000 https://seatowct.com/summit-midstream-partners-lp-announces-completion-of-financing-for-double-e-pipeline-project/ HOUSTON, March 8, 2021 / PRNewswire / – Summit Midstream Partners, LP (NYSE: SMLP) today announced that its indirect wholly-owned subsidiary, Summit Permian Transmission, LLC, has closed its $ 175 million Senior Secured Credit Facilities (the “Credit Facilities”) which will be used to finance the development of the Double E (“Double E”) Pipeline Project, in […]]]>

HOUSTON, March 8, 2021 / PRNewswire / – Summit Midstream Partners, LP (NYSE: SMLP) today announced that its indirect wholly-owned subsidiary, Summit Permian Transmission, LLC, has closed its $ 175 million Senior Secured Credit Facilities (the “Credit Facilities”) which will be used to finance the development of the Double E (“Double E”) Pipeline Project, in which it holds a 70% interest. SMLP expects to fund all of its $ 150 million Double E investment in 2021 with the credit facilities, which include a deferred drawing function. SMLP continues to expect Double E to be completed at or below current level $ 425 million investment budget, of which approximately $ 35 million remains in an unidentified project contingency. Along with the closing of the credit facilities, SMLP also posted a $ 16 million letter of credit under its corporate revolving credit facility to support core capital contributions, which may not be required if unidentified project contingencies are not fully utilized. As additional equity funding is required, it is not expected to be funded until 2022, after Double E’s commissioning date in Q4 2021.

About Summit Midstream Partners, LP
SMLP is a value-driven limited partnership focused on the development, ownership and operation of mid-level energy infrastructure assets strategically located in unconventional resource basins, primarily shale formations, in the mainland. the United States. SMLP provides natural gas, crude oil and produced water collection services under predominantly long-term, paid collection and processing agreements with customers and counterparties in six unconventional resource pools: (i) the Appalachian Basin, which includes the Utic and the Marcellus shale formations in Ohio and West Virginia; (ii) the Williston Basin, which includes the Bakken and Three Forks shale formations in North Dakota; (iii) the Denver-Julesburg basin, which includes the Niobrara and the Codell shale formations in Colorado and Wyoming; (iv) the Permian basin, which includes the Bone Spring and Wolfcamp formations in New Mexico; (v) the Fort worth pelvis, which includes the Barnett Shale training in Texas; and (vi) the Piceance basin, which includes the Mesaverde formation as well as the Mancos and Niobrara shale formations in Colorado. SMLP holds an interest in Double E Pipeline, LLC, which is developing a natural gas transportation infrastructure that will provide transportation service from multiple receiving points in the Delaware Basin to various delivery points in and around the Waha Hub in Texas. SMLP also owns an interest in Ohio Gathering, which operates an extensive natural gas gathering and condensate stabilization infrastructure in the Utica shale in Ohio. SMLP is headquartered at Houston, texas.

Forward-looking statements
This press release includes certain statements regarding expectations for the future that are forward-looking within the meaning of federal securities laws. Forward-looking statements contain known and unknown risks and uncertainties (many of which are difficult to predict and beyond the control of management) that may cause SMLP’s actual results in future periods to differ materially from anticipated or projected results. . A long list of specific material risks and uncertainties affecting SMLP is contained in its 2020 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 4, 2021, and as modified and updated from time to time. All forward-looking statements contained in this press release are made as of the date of this press release, and SMLP assumes no obligation to update or revise any forward-looking statements to reflect new information or new events.

SOURCE Summit Midstream Partners, LP

Related links

http://www.summitmidstream.com

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Shareholders want to hold giant corporations accountable for their commitments to racial fairness and justice. The banks are fighting back. https://seatowct.com/shareholders-want-to-hold-giant-corporations-accountable-for-their-commitments-to-racial-fairness-and-justice-the-banks-are-fighting-back/ https://seatowct.com/shareholders-want-to-hold-giant-corporations-accountable-for-their-commitments-to-racial-fairness-and-justice-the-banks-are-fighting-back/#respond Thu, 08 Apr 2021 02:37:21 +0000 https://seatowct.com/shareholders-want-to-hold-giant-corporations-accountable-for-their-commitments-to-racial-fairness-and-justice-the-banks-are-fighting-back/ Goldman Sachs is one of many banks urging shareholders to vote against a proposed third-party racial audit. Ramin Talaie / Getty Images Shareholders with $ 1.2 trillion in assets want big banks to conduct a racial equity audit. The audit would be performed by a third-party law firm and the results would be public. Bank […]]]>
Goldman Sachs is one of many banks urging shareholders to vote against a proposed third-party racial audit.

  • Shareholders with $ 1.2 trillion in assets want big banks to conduct a racial equity audit.
  • The audit would be performed by a third-party law firm and the results would be public.
  • Bank executives from Citi, BofA and others are urging shareholders to vote against the proposal.
  • See more stories on the Insider business page.

Following the death of George Floyd, a number of major banks and financial institutions announced Billions in massive investments and donations to tackle racial inequalities as well as internal plans to promote diversity.

Today, a group of investors with more than $ 1.2 trillion in assets, the Service Employees International Union (SEIU) capital stewardship program and CtW Investment Group, are asking some of these banks to have some of these banks audited their plans, proposals and policies by a third party, preferably a civil rights law firm. The investor group says the company would judge whether companies are going far enough to promote racial justice. They did not propose a specific methodology on how the third party would audit companies.

Leaders at Wells fargo, Citi, Bank of America, and Goldman Sachs asked shareholders to vote against the audit, which would be made public if approved.

Investors are also asking JP Morgan, BlackRock and Morgan Stanley to conduct an audit of its business practices and diversity and inclusion strategies. JPMorgan has yet to issue a proxy statement responding to the request.

Morgan Stanley has reached an agreement with investors in which, according to CtW, the company will conduct “an internal review related to the diversity of its employees and senior executives.” BlackRock has also reached an agreement with the investors and accepted an independent audit to be carried out in 2022, Bloomberg reported.

The push by SEIU and CtW shines the spotlight on the financial sector. Amid heightened calls from employees, customers and investors for greater diversity, the debate raises questions about the degree of oversight needed to ensure that banks that have historically engaged in racist policies embrace racial justice and diversity.

“There has to be more accountability,” Dieter Waizenegger, executive director of CtW Investment Group, told Insider. “We need independent evaluations.”

Bank executives react

The audit would examine banks’ financial products to ensure that they treat blacks, browns and Asians fairly, such as ensuring they have equal access to mortgages and small business loans. companies. He would also inspect the impact of the bank donations to police organizations and examine the promotion and retention by a bank of Black, Brown and Asian employees, which is a problem in the financial sector.

In their proxy statements, financial executives said they shared CtW’s concern to advance racial equity, but argued that the audit would be redundant to work already underway. Bank of America, for example, cited its billion-dollar pledge to advance racial equity, a third-party to evaluate its equal pay process and internal programs focused on “improving representation. and the professional development of our various teammates “.

CtW said none of the banks it sent the proposal to have the level of third-party oversight of a civil rights organization or law firm they are looking for.

“We believe our progress on the issue of racial equality and our regular reporting on that progress negates the audit requested by the proposal,” a Bank of America spokesperson told Insider.

Citi did not mention a third-party reviewer of its racial justice practices in its proxy statement. “While we do not agree with the overall approach of this proposal,” the statement said, “we are fully aligned with its stated goal of tackling racial inequalities in the financial sector.”

Goldman also did not mention a third-party auditor of its racial justice practices in its proxy statement; however, its CEO “called on all of our diversity committees and affiliate networks to help the firm” increase internal diversity.

A Goldman spokesperson declined to comment further on the proxy report, but mentioned that the company would release additional data on its workforce diversity this year.

Wells Fargo hired a third party to conduct a “human rights impact assessment” with “a particular focus on racial equity,” according to its proxy statement. A summary of the findings will be published publicly. Wells Fargo did not say whether the firm responsible for the report is a civil rights law firm, which CtW claims.

Morgan Stanley did not respond to a request for comment.

A complicated past

The financial institutions in question have recently made diversity, inclusion and racial equity a major concern, as demonstrated by multi-billion dollar philanthropic and strategic investments.

But they have also historically contributed to the racial wealth gap through racist processes like redness, a practice in which bankers identify neighborhoods, usually predominantly black, where they would not lend money for mortgages and loans.

And while the Fair Housing Act outlawed discriminatory loans half a century ago, black Americans are refused mortgages at a much higher rate than white lenders. Last year, it was an 80% difference, based on data collected under the Home Mortgage Disclosure Act. Black Americans are also accused higher interest rates, according to a report by the National Bureau of Economic Research.

Shareholders will vote on the proposal at their annual meetings, most of which will take place at the end of April.

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GoDaddy CEO: The second round of PPP loans will help smaller businesses. But more must be done https://seatowct.com/godaddy-ceo-the-second-round-of-ppp-loans-will-help-smaller-businesses-but-more-must-be-done/ https://seatowct.com/godaddy-ceo-the-second-round-of-ppp-loans-will-help-smaller-businesses-but-more-must-be-done/#respond Thu, 08 Apr 2021 02:37:08 +0000 https://seatowct.com/godaddy-ceo-the-second-round-of-ppp-loans-will-help-smaller-businesses-but-more-must-be-done/ In fact, nearly 79% of PPP Fund distributed were for loans over $ 100,000, and more than a third of those loans were between $ 1 million and $ 5 million or more – far more than a typical micro-business owner needed to survive. One of the main obstacles for microenterprises to get loans approved […]]]>
In fact, nearly 79% of PPP Fund distributed were for loans over $ 100,000, and more than a third of those loans were between $ 1 million and $ 5 million or more – far more than a typical micro-business owner needed to survive. One of the main obstacles for microenterprises to get loans approved was connecting with the big traditional banks which provided most of the loans.
At the end of January, more than a third of small businesses had closed in the United States compared to the previous year, according to data from Opportunity Insights Economic Tracker. And owners of minority businesses have been particularly affected. In the last quarter of 2020, the activity of minority companies decreased by 10%, compared to 6% for all small businesses.
Fortunately, some of these inequalities are corrected in the second cycle of PPP loans, which began on January 12. This time, $ 40 billion has been set aside specifically for companies with fewer than 10 employees, and the Small Business Administration has adjusted its loan process to better serve businesses owned by women, racial minorities and other under-represented groups.

The good news is that the SBA is pouring more money into more microenterprises, faster.

As of January 31, $ 20 billion had been disbursed and approval rates had increased significantly. The bad news is that with more than half of that $ 40 billion already spent, microenterprises will soon have to compete with large corporations who often have strong partnerships with the banks that oversee the approval of these loans – as we do. have seen with the first PPP distribution.

There is still a lot to do. I urge Congress to pass the Biden administration’s $ 1.9 trillion American rescue plan, which includes $ 15 billion in direct grants and $ 35 billion for lenders serving small businesses. But access to capital is not enough. Federal, state and local governments should also invest in affordable high-speed internet access, marketing and technical skills training, and wearable health benefit programs to help micro-business owners thrive.
A research effort between GoDaddy and economists and political scientists at UCLA Anderson, University of Arizona and University of Iowa to quantify the economic impact of online microenterprises, found consistent and clear results: more the online businesses – micro businesses, nonprofits, and personal websites – a community has, the more resilient and prosperous it is. Specifically, research shows that microenterprises with an active web presence have resulted in lower unemployment, greater job creation, and higher household incomes.
To realize these benefits, a little funding goes a long way. The average PPP loan for a microenterprise with less than 10 employees so far this year is about $ 28,000, compared to $ 81,000 for all other companies.
And according to our research, investments that help borrowers in underserved communities could have a particularly disproportionate economic impact. For example, black entrepreneurs who run microenterprises in parallel are 2.5 times more likely than others wanting to make their work a main source of income.

As always, timing matters. While businesses of all sizes have struggled during the pandemic, many microenterprises lack the money and savings to survive until the threat of Covid-19 subsides. And, given that we now know that these entrepreneurs are strengthening our communities and our economy, it would be tragic to miss another opportunity to give them the help they need.

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Government approves Rs457b PIA restructuring plan https://seatowct.com/government-approves-rs457b-pia-restructuring-plan/ https://seatowct.com/government-approves-rs457b-pia-restructuring-plan/#respond Thu, 08 Apr 2021 02:36:39 +0000 https://seatowct.com/government-approves-rs457b-pia-restructuring-plan/ ISLAMABAD: The federal government on Wednesday approved a restructuring plan worth Rs 457 billion for Pakistan International Airlines to make the national airline financially viable but without Business plan in place. The government has decided to lay off about 25% of the existing workforce or 3,500 employees of the national carrier, to close its unprofitable […]]]>

ISLAMABAD:

The federal government on Wednesday approved a restructuring plan worth Rs 457 billion for Pakistan International Airlines to make the national airline financially viable but without Business plan in place.

The government has decided to lay off about 25% of the existing workforce or 3,500 employees of the national carrier, to close its unprofitable routes and to share international routes with other airlines.

What is described as the “last lifeline” of Rs457 billion for the bloody airline, the Economic Coordination Committee sent the PIA restructuring plan to the federal cabinet for final approval.

Finance Minister Hammad Azhar chaired the ECC meeting. However, the plan may not achieve the intended objectives because it was approved without business plan, which would not be ready in the next six months.

Consulting firm IATA has also started work on PIA’s business plan, which is expected to be finalized by September this year, the ECC has been informed.

The ECC has approved the split of the PIA into two companies – the Good PIA which will have only Rs 137 billion in liabilities as well as core assets, and the Bad PIA which will choose a liability of Rs457 billion and retain ownership of its non-core assets.

“After detailed consultation, the ECC recommended that PIACL’s restructuring plan be submitted to Cabinet, after reconciliation of tax payable figures, with the instruction to cap future debt that PIACL could take on its balance sheet. improved, once the restructuring plan is implemented, ”the finance ministry said.

In March of last year, the government asked Dr Ishrat Hussain to prepare the restructuring plan for the PIA.

“With negative equity of Rs 460 billion including bank loans of Rs 326 billion and other debts of Rs 118 billion on its balance sheet, the company has not remained a commercially, operationally efficient and self-sustaining entity. sustainable, “she informed.

The company has more than 14,000 employees and operates on unprofitable routes. The options open to the government were to shut down PIA, privatize it or restructure it.

There will be two PIA companies – the bad government owned company that removes financial liabilities from PIA’s balance sheet along with some non-core assets and a new company doing the core business with resizing, streamlining profitable routes and sharing the rest. codes with other airlines, capitalization on the ethnic diaspora and religious tourism and modernization of the fleet.

Bad PIA

The documents showed that out of the 457 billion rupee debt, the federal government would immediately pick 203 billion rupees.

According to the plan, commercial loans of Rs 201.8 billion secured by sovereign guarantees will be paid by the federal government from 2021 to 2027. Meanwhile, Rs 45.3 billion will be paid in this fiscal year, Rs 41 billion. rupees in the next financial year. Rs 42 billion in 2022-2023, Rs 48.4 billion in 2023-24, Rs 16 billion in 2025, Rs 7 billion in 2026 and Rs 4 billion in 2027.

The government will immediately cancel its 55.6 billion rupee loans it gave to the bloody airline. Another Rs 53 billion loan taken from PIA’s balance sheet will also be paid by the federal government with interest charges of Rs 16 billion.

The restructuring plan envisages wiping out the Rs118 billion PIA liabilities by the federal government, preferably by canceling these liabilities by the Civil Aviation Authority (Rs 86.7 billion), Pakistan State Oil (16 , Rs 4 billion) and the Federal Board of Revenue (Rs14 .7 billion).

The government will also bear the cost of 12.9 billion rupees for the layoff of around 3,500 employees, which it has already approved.

According to the plan, if there are legal obstacles to setting up the business, the government will take the responsibilities directly and convert them to equity.

Good PIA

The PIA with the necessary approvals in place will submit a comprehensive plan with a revised balance sheet of the correct PIA taking into account the main activity, the desired workforce in accordance with international best practices, streamlined routes and key elements of the outdoor policy adapted to the PIA.

The Good PIA will only have 137 billion rupees in liabilities, mainly 58.5 billion rupees of commercial debt and 60.7 billion rupees of employees and liabilities related to the leasing of aircraft.

Successive PIA executives over the past 13 years have promised to turn the company around financially, on condition that the federal government recovers its inherited debt.

The ECC has been informed that after three years of implementing the plan, the indicator of success will be that the PIA will not seek further bailouts.

The PIA would use its restructured balance sheet, reduce its current financial commitments to raise its capital by obtaining a credit rating from the three international rating agencies.

The ECC has been informed that the PIA may cripple its operations as it has exhausted its commercial borrowing capacity and the decision to restructure its finances has been excessively delayed.

The ECC has taken over the summary of the one-time grant of Rs 14.5 billion to GENCO for subsequent payment to DISCO for the actuarial value of pensions and pension benefits of surplus employees and has also assumed responsibility for the payment of pensions to existing retirees in power. plants whose immediate closure is decided by the Cabinet Committee on Energy (CCOE).

After soliciting detailed comments from the stakeholders concerned, the committee asked the Energy division to deliberate further and to present cost optimization options regarding pension commitments.

The government had shut down power plants with a capacity of 1,800 megawatts, resulting in a staff surplus of 1,753. The power division demanded 14.5 billion rupees to pay their dues as well as the cost. pensions of retirees about 2,368 employees of these power plants.

The ECC has approved Rs330 million for the Ministry of Defense to maintain the aircraft. It also approved 2.4 billion rupees for the Federal Ministry of Education and Vocational Training for the Prime Minister’s special package to implement the “Skills for All” strategy for the TVET sector.

The organization also granted 1 billion rupees to the finance division to repay the balance of funds from the Insaf Imdad Ehsaas program.

The 280 million rupees for the Ministry of Information Technology and Telecommunications has been approved for the advice and implementation of Internet voting.

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Michigan State QB Rocky Lombardi v Penn State https://seatowct.com/michigan-state-qb-rocky-lombardi-v-penn-state/ https://seatowct.com/michigan-state-qb-rocky-lombardi-v-penn-state/#respond Wed, 07 Apr 2021 23:17:43 +0000 https://seatowct.com/michigan-state-qb-rocky-lombardi-v-penn-state/ STATE COLLEGE, Pa. – Michigan State will have a new starting quarterback. Junior Redshirt Rocky Lombardi, who was injured last week, was not in uniform during the Spartans (2-4) warm-ups before Saturday’s game (noon, ABC) at Penn State (2-5). Redshirt rookie Payton Thorne – the only other quarterback to play for Michigan State this season […]]]>

STATE COLLEGE, Pa. – Michigan State will have a new starting quarterback.

Junior Redshirt Rocky Lombardi, who was injured last week, was not in uniform during the Spartans (2-4) warm-ups before Saturday’s game (noon, ABC) at Penn State (2-5). Redshirt rookie Payton Thorne – the only other quarterback to play for Michigan State this season – took pictures of starting center Nick Samac during warm-ups. Sophomore Redshirt Theo Day and real freshman Noah Kim were the other quarterbacks participating in the warm-ups and this is the first game Kim has dressed for.

Live updates: Land Grant Trophy in play as Michigan State takes on Penn State

Lombardi has started the first six games this season but was injured with less than five minutes to play in the second quarter of last week’s 52-12 loss to Ohio State. He appeared to have hit his head on the ground while sacked, was taken to the locker room and did not return to play when Thorne took over.

Michigan State freshman coach Mel Tucker on Tuesday Lombardi said “seemed to be doing better” Monday and planned to find out which direction the team would go to quarterback by Wednesday.

In his third career game, Thorne completed his first 11 assists against the Buckeyes and finished 16 for 25 for 147 yards and an interception and had nine carries for 42 yards and a touchdown, to go with a fumble.

In addition to Lombardi, there were other notable Michigan State players who weren’t in uniform for the warm-ups at Penn State in wide receiver Ricky White, cornerback Chris Jackson, tight end. Trent Gillison, defensive tackle Jalen Hunt and offensive linemen Matt Allen, Luke Campbell and Devontae Dobbs.

Michigan State Football Stories:

Two positive results in latest round of Michigan state track and field COVID-19 tests

Inside Tyler Hunt’s unlikely path from kicker walk-on to tight start at Michigan State

Michigan State vs Penn State Scout Report, Prediction

Former 4-star rookie Julian Barnett entering transfer portal is the latest sign of change in Michigan state

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Prison guard cannot be fired for failing to perform CPR on inmate who hanged himself, Pennsylvania court finds https://seatowct.com/prison-guard-cannot-be-fired-for-failing-to-perform-cpr-on-inmate-who-hanged-himself-pennsylvania-court-finds/ https://seatowct.com/prison-guard-cannot-be-fired-for-failing-to-perform-cpr-on-inmate-who-hanged-himself-pennsylvania-court-finds/#respond Wed, 07 Apr 2021 23:17:41 +0000 https://seatowct.com/prison-guard-cannot-be-fired-for-failing-to-perform-cpr-on-inmate-who-hanged-himself-pennsylvania-court-finds/ A Pennsylvania county cannot fire a prison officer who has not performed CPR on an inmate who hanged himself in his cell, but must instead obey an adjudicator’s decision to simply suspend the guard, ruled Tuesday a state appeals court. The fact that Allegheny County Prison Officer Andrew Ruffner believed the prisoner was already dead […]]]>

A Pennsylvania county cannot fire a prison officer who has not performed CPR on an inmate who hanged himself in his cell, but must instead obey an adjudicator’s decision to simply suspend the guard, ruled Tuesday a state appeals court.

The fact that Allegheny County Prison Officer Andrew Ruffner believed the prisoner was already dead when he shot him played a role in the adjudicator’s decision which was supported by a panel of the Commonwealth court.

The state court intervened in the case after the Independent Union of Allegheny County Jail Employees appealed a county judge’s overturn of the arbitration decision. County officials fired Ruffner after the May 2016 hanging incident on the grounds that he violated county policies designed to thwart inmate suicides.

Ruffner’s case is somewhat unusual in that he wasn’t the only one who believed the prisoner was dead. The prison’s deputy director of nursing, who arrived moments after being summoned by Ruffner, also believed the inmate was dead, Judge Christine Fizzano Cannon noted in the state court opinion.

The inmate was actually resuscitated in the prison infirmary but died in hospital a few days later.

The arbitrator concluded that Ruffner’s failure to perform CPR was an “error in judgment” which must be viewed in light of the fact that a medical professional – the Assistant Director of Nursing – also believed that the inmate was beyond help.

So the arbitrator overturned Ruffner’s dismissal and replaced it with a three-day suspension.

In keeping with that call, Cannon cited Ruffner’s testimony regarding the incident. Ruffner said that after cutting the inmate he noticed that “his eyes were out of his head, his chest was dilated, and his stomach seemed to contain nothing. I thought he was dead when I shot him.

I hit him in his arm trying to get a response from him, but it was eyes open staring at the ceiling, no breathing, nothing.

“Ruffner did not repeatedly and knowingly violate public order,” Cannon found. “His actions in not initiating CPR, although ultimately incorrect with regard to Allegheny County Jail policy, can be easily understood when Ruffner’s credited belief that the inmate was deceased is associated with the presence of ‘a more qualified medical professional at the scene whose arrival believed Ruffner was imminent. “

“An unpaid three-day suspension for negligent error in judgment in the particular circumstances of this case does not in any way negate the county’s ability to enforce public policy to protect prisoners from suicide,” he said. she concludes.

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FERC Calls for More Comments on Building PJM Capacity Market and Possible Reforms https://seatowct.com/ferc-calls-for-more-comments-on-building-pjm-capacity-market-and-possible-reforms/ https://seatowct.com/ferc-calls-for-more-comments-on-building-pjm-capacity-market-and-possible-reforms/#respond Wed, 07 Apr 2021 23:17:40 +0000 https://seatowct.com/ferc-calls-for-more-comments-on-building-pjm-capacity-market-and-possible-reforms/ Strong points Open comments window until May 10 Ask a number of questions about the minimum price rules of the PJM offer Following discussions at a technical conference in March, the Federal Energy Regulatory Commission seeks additional information on capacity market builds, as state policies increasingly affect entry and the exit of resources, in particular […]]]>
Strong points

Open comments window until May 10

Ask a number of questions about the minimum price rules of the PJM offer

Following discussions at a technical conference in March, the Federal Energy Regulatory Commission seeks additional information on capacity market builds, as state policies increasingly affect entry and the exit of resources, in particular if new market rules could be implemented in PJM Interconnection without delaying its December date. capacity auctions.

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Grid operators and stakeholders have mostly supported the removal of minimum bid price rules, as currently constructed and imposed on capacity markets in regional transport organizations in the East, when of a technical conference led by the Commissioners on March 23, the first in a series planned to help modernize the design of the electricity market. Conversations focused on PJM’s expanded MOPR revealed mixed opinions on what should come next, with attendees offering a range of perspectives on how the 13 network operator’s multibillion-dollar capacity market. States can support the various State decarbonization strategies.

In an April 5 notice (AD21-10), FERC invited interested parties to submit post-technical conference comments by April 26, with reply comments expected on May 10.

While the notice stated that comments could be filed on any subject discussed at the technical conference, which also covered the capacity markets of ISO New England and the Independent System Operator New York , the committee specified 22 questions it would like to answer on the implications of maintaining PJM’s existing MOPR. and prospective alternative approaches that could replace the current framework.

FERC, through the notice, asked commentators to reflect on the urgency in which they feel that the rules of the PJM capacity market need to be reconciled with state policies. One of the questions was whether a phased approach should be taken and, if so, should short-term actions include phasing out extended MOPR and replacing it with targeted MOPR.

“Negligible” impact

S&P Global Platts Analytics maintains that the impact of the current MOPR on upcoming PJM capacity auctions for delivery year 2022-2023 will be “negligible”.

“The amount of renewables subject to MOPR and thus removed as price takers from the supply curve is not sufficient to have a significant impact on RTO-wide compensation prices,” said analyst Kieran Kemmerer in an April 6 email. “In addition, the existing nuclear resources benefiting from subsidies and subject to a non-zero floor offer price [in Illinois and Ohio] have struggled to compensate in recent auctions, and therefore the imposition of a floor bid price is unlikely to change bid behavior or influence compensation prices relative to the delivery year 2021-22. “

Kemmerer added that Platts Analytics is bearish in its outlook for RTO clearing prices, “primarily driven by updates from [PJM’s demand curve, or variable resource requirement,] and an influx of next-generation gas into western PJM. “

PJM’s capacity auctions were suspended after a FERC split in 2018 determined that the grid operator’s capacity market rules were unfair and unreasonable because they did not take into account the alleged price distortion caused by own energy resources subsidized by the State (EL16-49, EL18-178).

FERC subsequently ordered PJM to expand its MOPR to establish administrative floor prices for all new resources and certain existing resources seeking to bid on its capacity market that receive significant state subsidies. PJM received final approval in February of its compliance files for the implementation of the expanded MOPR.

PJM is expected to hold its first capacity auction since 2018 in May for the 2022-2023 delivery year, followed by four-and-a-half-month pre-auction schedules for the next commitment periods until the grid operator is catching up on its three-year deadline. provisional timetable. According to this schedule, the auction for the 2023-24 delivery year is expected to take place in December.

FERC has made it clear in various commissioner statements and recent actions that it does not intend to do anything that could disrupt the May auction. But the FERC in the notice asks for an explanation of “the time frame within which a proposed replacement rate could be implemented to avoid delaying the December 2021 base residual auction.”

The advisory seeks new and additional information on the benefits of the expanded MOPR, the impact of MOPR on states’ willingness to remain in the market for PJM capacity, the type or amount of resources funded by the State that are unlikely to offset the capacity auction as a result of MOPR, whether MOPR will cause excessive capacity purchase and what impact this might have on PJM customers.

Potential alternatives

The commission, according to the opinion, also questions whether further changes to the PJM tariff would be necessary if the expanded MOPR is revised or eliminated, and whether it is “appropriate to combine these changes with reforms to ensure that capability are properly accredited for their reliability value. “

FERC also asks whether serving entities should be allowed to source capacity outside the capacity market, allowing PJM in turn to only hold a residual capacity auction to meet remaining capacity requirements.

Other questions about alternative approaches include to what resources should a targeted MOPR apply to, what exemptions should be considered, and whether there are any differences between the short, medium and long term effects of removing the extended MOPR. on the adequacy of resources.

In addition, the opinion invites comments on the impact of publicly funded resources on the ability of market resources to obtain funding and on FERC’s accountability to non-resource subsidy states that instead matter. in the competitive market.



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