Brazilian drug trafficker killed in joint Honduras, U.S. drug bust

first_imgBy Dialogo July 10, 2012 TEGUCIGALPA, Honduras — A U.S. agent working with Honduran police fatally shot a Brazilian national last week during the seizure of nearly 1,000 kilos (2,205 pounds) of cocaine, U.S. officials said July 10. Two agents from the U.S. Drug Enforcement Administration (DEA) were involved in the July 3 operation in eastern Honduras, where a small plane carrying the cocaine crashed south of Catacamas. DEA agents are embedded with Honduran security forces in an effort to stem the flow of narcotics into the United States. One of the two pilots was injured in the crash and arrested, while the other ignored orders to surrender and was shot after making a threatening gesture. Officials said the suspected trafficker who died was a Brazilian national. Around 90% of the cocaine that arrives in the United States passes through Central America and Mexico. [AFP, 09/07/2012; Elheraldo.hn (Honduras), 09/07/2012]last_img read more

Improve member service: 10 tips

first_img 3SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr As credit union professionals, you’re responsible for building deep member relationships and providing outstanding service.Are you looking for a relaxed way to turn relationship-building skills into daily habits? Acknowledge that when others know you, like you, and trust you, they’re more likely to do business with you.Apply these 10 principles to better serve your members:1. Be a name-dropper. Introduce yourself by name, and ask members for theirs. Use their name during your conversations, and as you conclude your exchange.It’s a great way to show you care about your members, making their experience more personal.2. Smile and be present. Smile at people and most of the time, they’ll smile back. Maintain good eye contact.Be fully present for your member as a display of your interest and commitment. continue reading »last_img read more

Seeking an earning assets generator?

first_img 1SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Tony Repanich As president and chief operating officer of Shield Compliance, Tony Repanich leads day-to-day operations and serves as its principal product architect. Having served as a senior executive at a Washington … Web: https://www.shieldbanking.com Details This is placeholder text If there was a clear winner in this month’s election, it was cannabis. With strong majority support for ballot initiatives legalizing recreational cannabis in Arizona, Montana, New Jersey, and South Dakota, 15 states will now have adult-use programs. Mississippi and South Dakota also passed medical legalization measures bringing the number of states with some form of legal marijuana to 35.The prospect of federal legalization, or federal recognition of state-level programs, however, is still unclear. A divided Congress could mean that the passage of bills that would help normalize the banking environment for cannabis, most notably the SAFE Banking Act, is unlikely in the near term, even under a Biden Administration.Yet, the cannabis industry continues to experience exponential growth. The five new legal states are projected to add nine billion dollars in revenue between 2022 and 2025, according to  New Frontier Data, making the U.S. legal cannabis market worth $33 billion in the next five years.The coronavirus pandemic is also fueling interest in this industry. As month-over-month sales figures show, the industry appears to be largely recession- and pandemic-proof. As a result, many state and local governments see cannabis programs as a way to raise new tax revenue.Similarly, many credit unions are turning to cannabis banking as a new growth source during a down economy. While most initially entered the market to increase low-cost deposits and non-interest fee income, lending appears to be the next big opportunity to generate earning assets and gain a competitive advantage.Although lending to cannabis businesses can be tricky considering there is no universal standard on collateral for this industry, many bankers are finding that compliance processes implemented on the deposit side that enable them to pass exams and onboard new members can be leveraged to mitigate credit risk with little additional work. This is because they have a crucial advantage: a deep insight into the companies they serve.The added layer of transparency and data-sharing required to bank this industry enables credit unions to apply judgmental decision making to evaluate lending requests and make informed decisions that support the member’s business goals while protecting the financial interests of the credit union.Deirdra O’Gorman, CEO of DX Consulting and Empyreal Logistics, is an expert on banking and compliance for highly regulated industries. She works with banks and credit unions across the country and offers her perspective on the lending opportunity.How much interest is there in lending to cannabis companies?We are seeing an increase in requests to assist banks and credit unions build out their commercial lending programs to offer credit to cannabis companies. Most of these requests come from institutions with a seasoned cannabis banking program and are ready to deepen the account relationship. Many of these financial institutions are already doing some consumer lending, such as loans to employees or owners. We recommend financial institutions work on consumer and commercial cannabis lending programs in parallel to ensure policies and procedures work together to deliver a better experience and greater program efficacy.What types of lending are credit unions offering?Most financial institutions are starting their programs with real estate lending. Equipment financing is of interest but less common. Another newer concept in cannabis lending is factoring. Third parties are entering the cannabis space with accounts receivable/factoring lending programs, but most of them are not affiliated with a financial institution.How should credit unions deal with the issue of collateral?Most states do not allow financial institutions to take the plant or plant-derived product as collateral, even in default scenarios. As a result, some credit unions price for risk and treat these loans as unsecured, whereas others take on additional collateral or co-signers to mitigate exposure. A best practice is to review each loan on its own merits and work with your internal team, consultant, and legal counsel before embarking on your first cannabis loan.What is motivating credit unions to add lending to their cannabis programs?In our experience, most credit unions look at lending as a natural progression of their cannabis banking programs. Once they get a comfort-level with their members, they want to help them expand their businesses. Also, with cannabis banking comes new deposits. Therefore, many credit unions are providing lending as a means of balance sheet management.As the cannabis industry continues its rapid growth trajectory, the demand for banking services is also rising. While in years past, only two or three banks or credit unions would have launched a program in a newly minted legal state, we are now seeing that number double or triple. This means a first-mover advantage may no longer be an option in some markets. If you are considering developing a cannabis banking program, we recommend engaging early on with experts to create a compliance and operational model that works for your credit union and the industry.center_img This post is currently collecting data…last_img read more

US tycoon Friedkin completes 591-million euro Roma takeover

first_imgTopics : ‘Special club’ But the Boston-based businessman had been unpopular among club fans for his rare appearances in Italy and his handling of player transfers and the departures of club legends Francesco Totti and Daniele De Rossi who were both pushed out of the club.Roma have had recurring financial difficulties and been sanctioned by European football’s governing body UEFA for breaches of financial fair play.As a result the club are very active in the transfer market, regularly selling off their best players, to the chagrin of fans.Pallotta’s great project had been the construction of a new stadium in the south of the capital which was delayed because of legal and bureaucratic issues, and remains at the planning stage.The high-point of Pallotta’s reign was the club’s sensational Champions League 3-0 second leg comeback in 2018 to beat Barcelona, before losing to Liverpool in the semi-finals.Pallotta said: “I would like to wish Dan, Ryan and everyone at AS Roma – the players, the staff and the fans – only good luck for the future. “Like every Roma fan in the world, I truly hope The Friedkin Group can build on what we have done over the last eight years, transforming Roma into a truly international club, and take AS Roma to the next level. “This is an incredibly special football club and I leave with many unforgettable memories.”The club won their third Serie A title in 2001, but have not lifted any silverware since the Italian Cup in 2008.This season they finished fifth, missing out on elite European competition for the second year in a row.Friedkin told Roma fans: “We will stand shoulder to shoulder with you as we develop this club and challenge for trophies in the future.”We can’t wait to get to work and for our new season to start.” “As one fan wrote recently, ‘Take our iconic club and make it one of the greatest names in world football’.”We intend to do just that. Our commitment to Roma is total. We will be very present in Rome, a city that holds a special place in our hearts, as we embark on this exciting journey.”Our vision for the club and the team is to favor a sustainable and long-term investment approach rather than quick fixes.”We recognize that we have been entrusted with a team. which represents a vital part of the soul of Rome, and this is a responsibility that we will always take very seriously and humbly.” Houston-based Friedkin is the chief executive of a consortium notably involved in the automotive and hotel and entertainment industry.The Friedkin Group have through Romulus and Remus Investments LLC, purchased the 86.6 percent majority stake in Roma, and will launch a mandatory tender offer for the remaining 13.4 percent of share capital, the club said in a statement.Friedkin takes over from Pallotta as club chairman, in a new executive committee which includes his son Ryan, with Guido Fienga remaining on as CEO.Pallotta bought two-thirds of the club’s shares in 2012, but had 100 percent ownership since 2014. US billionaire Dan Friedkin on Monday promised to turn Roma into “one of the greatest names in world football” after completing his 591 million euros ($700 million) purchase of the Italian club.Friedkin, 54, takes over the Serie A side after nine-years under the ownership of fellow American James Pallotta, 62.”We are delighted to join the AS Roma family,” said Friedkin. last_img read more

Data error causes €3m overpayment headache for ABP

first_imgThe amounts involved ranged from a couple of dozen euros to more than €10,000 in a few cases.In 150 cases, however, ABP ceased the wrongful additional payments immediately.The issue was first publicised by Omroep MAX, a Dutch broadcaster aimed at people aged over 50. After Omroep MAX took up the case, ABP admitted that it had been too hasty. Payments would continue until May, it said, and pensioners would be approached by phone about how they wished to resolve the issue.Pieter Omtzigt, MP for the Christian Democrats (CDA), told Omroep MAX he would ask social affairs minister Wouter Koolmees to what extent ABP was entitled to reclaim benefits, and what rights pensioners could derive from the amounts on their pensions statement.Meanwhile, as a consequence of the SVB’s mistake, a further 300 pensioners are to receive additional payments totalling €70,000 from ABP. Dutch civil service scheme ABP has admitted it was too hasty in its efforts to reclaim €3m of overpayments it had wrongfully made to 700 pensioners.The €407bn pension fund said it would keep paying the benefits for a couple of months while it consulted the pensioners involved about arrangements for paying back the money.ABP paid a non-compulsory additional pension to retirees with a younger partner on low income, based on data provided by social security body SVB.However, after the SVB informed ABP at the end of last year that it had issued incorrect data between December 2013 and May 2015, the civil service scheme wrote to the pensioners informing them that they had to return the surplus benefits, while offering repayment arrangements for up to six years.last_img read more

PSA International Signs Deal to Acquire Poland’s DCT Gdańsk

first_imgPSA International has signed an agreement with the Polish Development Fund (PFR) and the IFM Global Infrastructure Fund (GIF) to jointly acquire DCT Gdańsk, the largest container terminal in Poland.The shares would be purchased from Macquarie Infrastructure and Real Assets (MIRA) managed fund Global Infrastructure Fund II, MTAA Super, AustralianSuper and Statewide Super.With a quay length of 1,306 meters and a maximum depth of 17 meters, DCT Gdańsk is the only terminal in the Baltic that can serve ultra large container vessels (ULCVs), the world’s largest container ships with a capacity of up to 23,000 TEUs.Following a significant capital expenditure programme, the port’s capacity doubled in 2016 with the completion of a second quay. Container volumes have grown steadily over the years to reach 1.9 million TEUs in 2018.Given the constant growth and development of the business, the terminal is expected to reach full capacity utilisation in the upcoming years. To allow for further development of DCT Gdańsk, PSA, PFR and IFM Investors will explore the construction of a new expansion area and further increases in capacity.“DCT Gdańsk is PSA’s first investment in Eastern Europe, and we look forward to working closely with our partners PFR and IFM to further develop its facilities and to strengthen its position as the preferred port of call for Poland and the Baltic Sea,” Tan Chong Meng, Group CEO of PSA International, said.“Through leveraging our global network and our expertise in creating value for the port and shipping communities, PSA will partner with shipping lines, logistics operators and cargo owners to deliver more efficient, flexible and robust supply chain solutions for the region.”last_img read more

RWE Takes Over E.ON’s Renewable Energy Assets

first_imgE.ON has transferred its renewables business, E.ON Climate & Renewables, to RWE as part of the transaction to acquire and integrate innogy.Back in March 2018, RWE and E.ON entered into an agreement by which E.ON is taking over RWE’s 76.79% stake in innogy, whereas RWE is obtaining among other things all of E.ON’s major renewable energy activities and innogy’s renewable energy business, as well as a 16.67% minority stake in E.ON.RWE has now taken over a total of 9GW of renewables projects worldwide either complete or under development, from E.ON. Out of the 9GW E.ON built with partners partially, approximately 6.8GW are owned by E.ON. 1,500 employees were transferred with these assets to RWE.“Combined at RWE, E.ON and innogy’s renewables businesses will be an attractive platform with lots of development potential. I’d like to thank our colleagues at E.ON Climate & Renewables led by Anja Dotzenrath for their outstanding work. I’m certain that being part of RWE will give them the best possible conditions for continuing the successful development of the renewables business,“ E.ON CEO Johannes Teyssen said.“E.ON will remain closely involved with renewables, which we firmly believe will be the mainstay of tomorrow’s energy supply. In our network territories in Germany, we connect more than 90 percent of newly built wind and solar facilities to the energy system.”Another step of the transaction will be for E.ON to transfer innogy’s renewables business to RWE. This will take place as soon as possible in 2020, the company said.The renewable energy portfolios of E.ON and innogy, combined to form RWE Renewables, will have an installed capacity of more than 9GW once the innogy transaction is completed. Added to this are further assets with a combined capacity of 2.6GW under construction that will be completed in the near future. The transaction will make RWE the second-largest offshore wind operator.RWE will also provide an annual EUR 1.5 billion in net capital expenditure for both offshore and onshore wind turbines as well as photovoltaics and storage. Project partnerships have the potential to increase total investment to between EUR 2 and 3 billion per annum, the company said.last_img read more

Iloilo City’s No. 7 most wanted person nabbed

first_imgDunahod has also another arrestwarrant for the crime of theft issued by Judge Evelyn Rondael of the MunicipalTrial Court Branch 9 with recommended bail bond of P10,000. Melvin Dunahod, 36, was a resident of LaPaz district. He faces charges for violation of Republic Act 9165, or theComprehensive Dangerous Drugs Act of 2002. ILOILO City – The No. 7 most wantedperson in this city has been arrested in Boracay Island’s Barangay Balabag,Malay, Aklan. The suspect was turned over to the LaPaz police station, where he was detained./PNcenter_img The warrant for his arrest on Wednesdaymorning was issued by Judge Victor Gelvezon of the Regional Trial Court Branch36 sometime in 2012. Iloilo City’s No. 7 most wanted person Melvin Dunahod faces charges for violation of Republic Act 9165, or the Comprehensive Dangerous Drugs Act of 2002.last_img read more

Wallace Mathias Witte

first_imgWallace Mathias “Ick” Witte, 87, of Lawrenceburg, Indiana, passed away Thursday September 3, 2020 in Lawrenceburg, Indiana.He was born March 9, 1933 in Aurora, IN, son of the late Walter M Witte and Dora (Andrews) Witte.Wally served his country as a member of the United States Air Force. He enlisted in the US Air Force 1953 to 1957. He was stationed at Randolph Field in San Antonio, Texas and Hickum Field in Honolulu, Hawaii.Wally worked as a Riverboat Captain for I & M, retiring after over 41 years of service.He attended Plum Point School in Aurora for eight years and graduated from Aurora High School in 1951. He was a member of the St. John Lutheran Church, Bellaire.  Wally was an active member of St. John Lutheran Church since 1962 and served on the church council.Uncle Oscar (Ock) Witte gave him the nickname Pip from the baseball player Wally Pip. His younger sisters were unable to say Pip and began calling him Ick or Icky, and it stuck! He worked at Seagram’s Distilleries mill and bottling floor from May to December 1951. He then worked for Indiana and Michigan Electric Company from December 23, 1951 to March 31, 1993, 41 years and 3 months. He was a Retired Riverboat Captain. Wally met Johanna Knopf at Coon Hunters in Batesville on New Year’s Eve 1959, and they were married on May 20, 1961. In 1987 he began prospecting for gold in Grants, New Mexico, going twice a year until recent years. Philip Cee, Howard Terrill, David Witte, Dorothy Witte, Shirley Steiner, Johanna Witte, Owen Witte, and Terry Duffey have all journeyed to Grants to find the 20 mule loads of gold hidden in them thar hills! His retirement activities consisted of buying and selling tropical fish and aquariums, Wally’s Weedeater Repair, the Witte Winery, the auction circuit and the care of fruit and persimmon trees.Wally is survived by his loving spouse of 59 years, Johanna Witte; children, Ed Witte of Fishers, IN, Karen Tailby (Sean) of Fishers, IN, David Witte of Lawrenceburg, IN, Teresa Witte of Cincinnati OH; grandchildren, Gus Gamez, Daiane (Phil) Hyde, Grant Witte, Meghan Witte, Nathan Tailby, and Matthew Tailby; sisters, Dorothy Witte of Cincinnati, OH, Shirley Steiner of Aurora, IN, Arlene Hempleman of Rocklin, CA; great-grandchildren, Foster & Frankie Hyde.He was preceded in death by his parents; brothers, Owen, Leon, and Raymond Witte, sisters, Henrietta Hubbard, Catherine Droege, and Margie Witte.Friends will be received Tuesday, September 8, 2020, 5:00 pm – 8:00 pm at the St. John’s Lutheran Church Bellaire, 4937 State Road 48 Lawrenceburg, Indiana.Services will be held at the church on Wednesday, September 9, 2020 at 11:00 am with Rev. Debby Allen officiating.Interment will follow in the St. John’s Lutheran Cemetery Bellaire, Lawrenceburg, Indiana. Military graveside services will be conducted by members of local Veterans Service Organizations.Contributions may be made to the St. John Lutheran Church or Lawrenceburg Life Squad. If unable to attend services, please call the funeral home office at (812) 926-1450 and we will notify the family of your donation with a card.Due to the current situation dealing with COVID-19, we are following the directives from Governor Holcomb and the Centers for Disease Control and Prevention concerning large events and mass gatherings. The family deeply appreciates the support and love shown from friends, but the health and well being of everyone in our community is of top priority. We are asking everyone who will be in attendance to please remember the social distancing guidelines at all times, and the wearing of masks is highly recommended.Alternative ways to express your condolences can be done by going online at our website and leaving the family a message, sending a card, flowers, or making a donation in memory of their loved one.Visit: www.rullmans.comlast_img read more

Diamond sparkles at Chester

first_imgDiamondsandrubies was a most impressive winner of the Arkle Finance Cheshire Oaks at Chester. The daughter of Fastnet Rock closely tracked the pacesetting duo of Sweet Dream and Banzari for most of the race until Ryan Moore went about his business at the top of the home straight. O’Brien’s filly received an accidental crack of the whip on her nose when Moore went for a winning run, but that did not knock her off her stride as she was much too good for Entertainment. Moore said: “I had a nice run round and she travelled very easily. They didn’t go that quick, but when I asked her she quickened like a smart filly and we’re real pleased with her. “For a big filly, she’s gone round there very easily.” Joint-owner Roisin Henry said: “We weren’t looking forward to it as we were worried about the ground, but she’s come good. “We came here more hopeful than confident, so we’re really thrilled. “Ryan kept her very balanced. Even though she got a crack across her face she seemed to come on for it. When asked if she thinks Diamondsandrubies is capable of winning an Oaks, Mrs Henry said: “I do now.” Coolmore’s UK representative Kevin Buckley said: “Ryan said she gave him a really good feel – she missed the break a little, but settled well and when he pressed the button she really responded well. “The Oaks is the likely target and she is right in that picture.” Press Associationcenter_img Aidan O’Brien’s 5-4 favourite was suitably revved up following two runs in April and had little issue taking this Listed affair by six lengths. Diamondsandrubies was subsequently cut to 8-1 from 20-1 by Paddy Power for the Investec Oaks at Epsom, and it is not difficult to see why. last_img read more