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Transparency data: Birthday Honours lists 2019

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first_imgHonours lists are published at New Year and on the Queen’s official birthday in June. Learn more about the honours and how to nominate someone for an award. In total 1,073 people have received an award:● 920 candidates have been selected at BEM, MBE and OBE level: 306 at BEM, 399 at MBE and 215 at OBE;● 75% of the recipients are people who have undertaken outstanding work in their communities either in a voluntary or paid capacity;● 508 women are recognised in the List, representing 47% of the total;● 10.4% of the successful candidates come from a BAME background;● 5.9% of the successful candidates consider themselves to have a disability (under the Equality Act 2010);and 2.8% of recipients identified as being LGBT. Read the Queen’s Birthday Honours 2019 press release.last_img read more

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Supply chain bottlenecks may slow U.S. wind installations

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first_img FacebookTwitterLinkedInEmailPrint分享Greentech Media:While the U.S. wind energy installation outlook looks bright — more than 23 gigawatts in new capacity forecast over the next two years — looming unforeseen supply chain bottlenecks could lead to project cancellations and postponements. This could put as much as $2.1 billion of revenue at risk, according to a new study by Wood Mackenzie Power & Renewables.“Between 2019 and 2020, we anticipate strong growth in wind energy installations as the industry rushes to meet deadlines for U.S. Production Tax Credits (PTCs),” said Dan Shreve, head of global wind research at Wood Mackenzie Power & Renewables. “However, increased demand for transportation capacity due to growth in partial repowering activity, logistics requirements, and competition from other industrial sectors could severely hamper the transportation segment’s ability to ship components.”Shreve added: “These supply chain constraints will escalate deployment risks for all wind energy participants — increasing the likelihood of higher costs, missed deadlines, lost production, and fewer PTCs if projects can’t be commissioned in time.”According to the analysis, if these supply chain constraint issues are not addressed, more than 23 percent of the wind energy capacity installations expected in 2019-2020 could be delayed or canceled.Moreover, turbine installations could decline by 1.1 gigawatts — 366 megawatts in 2019, 720 megawatts in 2020 — representing a loss of more than $800 million in turbine sales. PTC impacts, while more complex to estimate, could represent lost revenue of up to $1.3 billion over the 10-year tax credit period.More: Looming supply chain crunch threatens US wind energy boom Supply chain bottlenecks may slow U.S. wind installationslast_img read more

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Russell, Osman, Ator to serve in ABA House of delegates

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first_img Russell, Osman, Ator to serve in ABA House of delegates June 15, 2002 Regular News The Bar Board of Governors has named three lawyers to the ABA House of Delegates — including outgoing Bar President Terry Russell — and nominated three others for a vacancy on the Florida Board of Bar Examiners.The board, at its May meeting, also made several other appointments.The board named Russell and former President Edith Osman to two-year terms in the ABA House, and accepted the recommendation of the Young Lawyers Division and chose Jennifer J. Ator of Miami for an under-35 seat. Incoming President-elect Miles McGrane will automatically fill a fourth seat.All those terms begin August 8, during the ABA’s annual convention.On the FBBE, the board accepted the recommendation of a screening committee and nominated Zala L. Forizs of Tampa, Kathy J. Maus of Tallahassee, and Leighton D. Yates, Jr., of Orlando. The Supreme Court will make the final appointment, and that lawyer will fill the three-and-a-half year unexpired term of J. Bert Grandoff of Tampa.On other appointments, the board named:• William H. Davis of Tallahassee and Edward M. Waller, Jr., of Tampa to four-year terms on the Supreme Court’s Commission on Professionalism.• James L. Bell of Charleston, S.C., A. Hamilton Cooke of Jacksonville, Sally D.M. Kest of Orlando, Warren T. Lafray of Clearwater, and Daniel F. Wilensky of Jacksonville to two-year terms on the Florida Legal Services, Inc., Board of Directors.• Mary B. Barlow of Ft. Lauderdale, Philip Diaz of Jacksonville, Lee Ann Gustafson of Tallahassee, Donald A. Orlovsky of West Palm Beach, and Wayne LaRue Smith of Key West to three-year terms on the Florida Lawyers Assistance, Inc., Board of Directors.• James J. Nosich of Coral Gables to a two-year term on the Florida Medical Malpractice Joint Underwriting Association.• Board member Ervin A. Gonzalez of Coral Gables to a four-year term on the Supreme Court’s Judicial Ethics Advisory Committee.center_img Russell, Osman, Ator to serve in ABA House of delegateslast_img read more

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In Practice: The Public Company Accounting Reform and Protection Act

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first_imgIn Practice: The Public Company Accounting Reform and Protection Act In Practice: The Public Company Accounting Reform and Protection Act Barton S. Sacher Scott A. Burr and Joseph A. SacherOn July 30, the most comprehensive and sweeping changes in the federal securities laws in 70 years, since the creation of the Securities and Exchange Commission in 1934, were signed into law. That law, 1 o fficially titled the “Sarbanes-Oxley Act of 2002,” but commonly referred to as the “Public Company Accounting Reform and Investor Protection Act of 2002,” was drafted in response to public outcries following the collapse last year of Enron Corp. and the role played by its auditor, Arthur Andersen, in helping to conceal the company’s precarious financial condition. After languishing for months, the bill gained additional public support and added momentum from disclosures of accounting abuses and other blatant securities frauds at several other big companies — and finally took off (as the stock market plunged) after reports emerged in late June of WorldCom’s nearly $4-billion “accounting misstatement.” During July, the bill sailed through the U.S. House of Representatives by a vote of 423 to 3, and received an even more lopsided vote in the Senate of 99 to 0. The new law is designed to crack down on corporate criminals and to help restore confidence in the honesty, integrity, and fundamental strength of the American economy and the American marketplace.Now, we begin the time-intensive task of sifting through the Act, to see how it changes existing law, and what it means for companies, their officers and directors, the securities industry, the accounting and securities law professions and, of course, the investors. Time and space here only permit us to identify the new highlights that are most significant. Hereafter, however, only the foolish practitioner will operate in this arena without mastering the old and new details. Establishment of An Accounting Oversight Board The centerpiece of the Act is the creation of an independent Accounting Oversight Board, a nonprofit corporation subject to SEC oversight. 2 P ublic accounting firms that conduct audits of public issuers will be required to register with the board. 3 T he board is directed to review annually each accounting firm that conducts more than 100 audits a year, while accounting firms conducting fewer than 100 audits yearly are to be reviewed every three years. 4 N o public accounting firm (beginning 180 days after the Act’s enactment, or approximately February 1, 2003) can prepare audits related to a securities issuer without being registered with the board. 5The board can investigate potential violations of accounting rules, professional standards, and securities laws and impose sanctions on any accounting firm or associated person rule-breakers for (a) intentional or knowing conduct, including reckless conduct, that results in any violation of applicable statutory, regulatory, or professional standards, or (b) repeated instances of negligent conduct. 6 T he sanctions it may impose include the temporary suspension or permanent revocation of a firm’s registration; the temporary or permanent suspension or bar of a person from further association with any registered public accounting firm; the temporary or permanent limitation on the activities, functions, or operations of any such firm or person; a civil monetary penalty; censure; the requirement of additional professional education; or any other appropriate sanction. 7 T he sanctioned party may appeal the sanction to the commission for review. 8 T he board’s power extends not only to domestic accounting firms, but also to foreign public accounting firms that audit financial statements of any issuer subject to U.S. securities laws. 9The board will include five members (two who are, or have been CPAs) appointed by the SEC within 90 days after the Act takes effect. 10 T he board must be fully operational and deemed capable by the commission of executing its duties within 270 days, approximately nine months after the law’s enactment, on or about June 1, 2003. 11The newly established Accounting Oversight Board will set auditing standards. 12 H owever, the Act directs the Financial Accounting Standards Board (FASB) to continue its role in setting accounting standards (e.g., Generally Accepted Accounting Principles, GAAP) and provides public funding for the FASB to fulfill this role. 13The board replaces the recently disbanded Public Oversight Board, which was financed and overseen by the American Institute of Certified Public Accountants, the auditing profession’s trade group. Auditor Independence For the first time, the government is curtailing ancillary services provided by accounting firms. Under the Act, an accounting firm cannot provide both audit and consulting services to a single client. 14 S pecifically, if an accounting firm is auditing a client pursuant to the securities laws, the accounting firm cannot also help that client with bookkeeping or other services related to accounting records or financial statements, financial information systems design, appraisal or valuation services, actuarial services, management functions or human resources, broker-dealer or investment advisory services, or legal services. 15The Act does allow the Accounting Oversight Board authority to grant case-by-case exceptions, 16 a nd does not limit accounting firms from providing non-audit services to public companies that they do not audit, or to any private companies. 17Registered public accounting firms will also have to rotate their lead partner (the partner in charge of the audit engagement) and their review partner (the partner brought in to review the work of the lead partner and audit team) on all audits, so that neither role is performed by the same accountant for the same company for more than five consecutive years. 18 Increasing Senior Management Accountability The Act places a great deal of accountability squarely on the shoulders of senior executives at publicly held companies, through a number of specific provisions designed to make senior management more accountable, and to improve financial disclosures. Certification . CEOs and CFOs are now required to formally certify that they have reviewed their company’s financial reports and (a) the report does not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements, in light of the circumstances under which such statements were made, not misleading, (b) the financial statements, and other financial information included in the report, fairly represent in all material respects the financial condition and results of operations of the issuer as of, and for, the periods presented in the report, (c) the company has established and maintained adequate internal controls, and (d) the company and its management have disclosed to the auditors and the audit committee all significant deficiencies in the internal controls and any fraud, whether material or not, that involves management or other employees who have a significant role in the company’s internal controls. 19The CEO and CFO are prevented from benefiting from bonuses or profits they receive from the sale of securities of the company during the 12-month period following the first public issuance or filing with the commission of the financial document if it is proven that they misstated their company’s financials. 20 T he certification provisions apply to senior managers at U.S.-based companies, as well as CEOs and CFOs of companies that reincorporate outside the U.S. The Act calls for companies to comply with these provisions within 30 days of enactment, or by September 1, 2002. 21 Freezing Assets . During an investigation, the SEC can now seek an order in federal court imposing a 45-day freeze on extraordinary payments (whether compensation or otherwise) to corporate executives, in some instances ex parte. The freeze may be extended up to an additional 45 days and, if enforcement action is initiated, the freeze may be extended until the action is concluded. The targeted payments would be placed in escrow by the issuer, ensuring that disputed payments are either taken, or returned, after appropriate hearing. 22 Restrictions on Services . As a result of the Act, the SEC, in administrative cease and desist proceedings, can now bar persons from serving as public company officers or directors, if they are found to have committed a securities law violation and their conduct demonstrated “unfitness” to serve as an officer or a director. 23 P reviously, only a federal court could issue an order prohibiting a person from acting as an officer or director of a public company after a court finding of “substantial unfitness.” Additionally, the commission may now seek “any equitable relief that may be appropriate or necessary for the benefit of investors,” an undefined remedy clearly open to interpretation, and clearly one which will generate much litigation. 24 Audit Committee Independence . Under the Act, each member of the audit committee of the company must be a member of the board of directors and has to be independent from company management. This means that an audit committee member may not accept consulting, advisory, and/or other fees from the public issuers, except compensation for service on the board, the audit committee, or some other committee. The audit committees are directly responsible for the appointment, compensation and oversight of the work of the auditors. The committee must develop procedures for addressing complaints concerning audit issues. 25 Code of Ethics . Public companies now will also be required to disclose whether they have adopted a code of ethics for senior management and, if not, why. The SEC is ordered to issue final rules on this provision within 180 days of enactment, or approximately February 1, 2003. 26 P rior to the enactment of the Act, these standards of ethical conduct for attorneys were only suggested, laudatory professional standards set forth in the American Bar Association Model Rules of Professional Conduct. 27 Setting Rules for Attorneys Although the Act contains only two sections directly related to lawyers, the thrust of those sections is powerful. The Act requires the SEC to adopt rules within six months setting forth minimum standards of professional conduct for attorneys appearing and practicing before it. Such rules are to include requiring counsel to report material evidence of a securities law violation, or a breach of fiduciary duty, by the company or any agent thereof to the chief legal counsel or chief executive officer of the company. If those officials neglect to respond appropriately — and it remains unclear just what that means — the attorney must go to the audit committee or the full board. What is also unclear is what the attorney is supposed to do if it turns out the audit committee or board is complicit in the wrongdoing or refuses to take remedial action. 28 I n sum, however, these new provisions underscore and make clear that the outside securities counsel’s client is the public corporation, and that future actions are intended to benefit the client’s public shareholders, not entrenched management. Ratcheting Up Punishment The Act creates much harsher punishment for those corporate executives who engage in corporate fraud, and serious protections for those employees who report it and those investors who are victimized by it. Financial Statement Certification . The Act calls for top corporate executives to certify that financial statements of the company fairly and accurately represent the financial condition of the company. Company executives who knowingly fail to comply with this provision could face fines of up to $1 million and 10 years in jail, or both; executives who willfully fail to comply could see fines as high as $5 million and jail terms of 20 years, or both. 29 Securities Fraud. The Act creates a new, 25-year felony sentence under Title 18 for defrauding shareholders of publicly traded companies. 30 C urrently, unlike bank fraud or health care fraud, there is no generally accessible statute that deals with the specific problem of securities fraud. In these cases, federal investigators and prosecutors are forced to either resort to a patchwork of technical Title 15 offenses and regulations, which may criminalize particular violations of securities law, or to treat the cases as generic mail or wire fraud cases, requiring the criminal prosecutors to meet the technical elements of those statutes in order to reach their five-year maximum penalties.The Act creates a new 25-year felony for securities fraud, through a more general and less technical provision comparable to the bank fraud and health care fraud statutes in Title 18. It adds a provision to Chapter 63 of Title 18 at section 1348, which would criminalize the execution or attempted execution of any scheme or artifice to defraud persons in connection with securities of publicly traded companies or obtain their money or property. The provision is not intended to be read to require proof of technical elements from the federal securities laws, and is intended to provide needed enforcement flexibility in the context of publicly traded companies in order to protect shareholders, and prospective shareholders, against all of the creative types of schemes and frauds which inventive criminals may devise in the future. The intent requirements are to be applied consistently with those found in 18 U.S.C. §§1341, 1343, 1344, and 1347. Mail and Wire Fraud . The maximum criminal penalties for executives found guilty of committing mail and wire fraud is raised to 20 years jail time per count (up from 5 years). 31 Whistleblower Protections. The Act creates a civil cause of action 32 a nd criminal sanctions against those public companies and their agents who retaliate against whistleblowers, which includes both fines and up to 10 years in jail as sanctions. 33 E mployees who take lawful steps to disclose information or otherwise assist criminal investigators, federal regulators, Congress, supervisors (or other proper people within a corporation), or parties in a judicial proceeding in detecting and stopping fraud are covered. If the employer then takes illegal action in retaliation for lawful and protected conduct, the employee is permitted to file a complaint with the Department of Labor, to be governed by the same procedures and burdens of proof now applicable in the whistleblower law in the aviation industry. The employee can bring the matter to federal court only if the Department of Labor does not resolve the matter in 180 days (and there is no showing that such delay is due to the bad faith of the claimant) as a normal case in law or equity, with no amount in controversy requirement. The whistleblower employee may obtain reinstatement, backpay, and compensatory damages, including reasonable attorney fees and costs, if the claim prevails. The employee has a 90-day statute of limitations for the bringing of the initial administrative action before the Department of Labor. Bankruptcy Loopholes . The Act changes the Bankruptcy Code to make judgments and settlements arising from state and federal securities law violations brought by state or federal regulators and private individuals per se nondischargeable, thereby helping to protect victims of fraud by preventing corporate wrongdoers from sheltering their assets under the umbrella of bankruptcy. 34 C urrent bankruptcy law may permit wrongdoers to discharge their obligations under court judgments or settlements based on securities fraud and securities law violations. Statute of Limitations . The Act permits investors to bring securities fraud cases up to two years after the discovery of facts constituting violations, or up to five years after such violations occurred. 35 T his overrides and extends current law enacted through Private Securities Litigation Reform Act (“PSLRA”) in 1995, after the Supreme Court’s 1991 decision in Lampf, Pleva, Lipkind, Prupis & Petigrow v. Gilbertson, 36 u nder which all such cases could only be brought within one year of discovery and within three years of when the violation occurred. This provision, alone, will have far-reaching impact on the timing and number of private civil cases. Document Destruction. The Act strengthens laws that criminalize obstruction of justice, such as document shredding or falsifying records, calling for fines, and up to 20 years imprisonment, if found guilty. 37 T he Act also punishes as a felony, with up to 10 years imprisonment, the willful failure to preserve financial audit papers of companies that issue securities as defined in the Securities Exchange Act of 1934. Accountants are independently required to preserve audit work papers for five years from the conclusion of the audit. Moreover, the SEC by rule can expand the definition of additional “records” that must be retained. Quicker Disclosure and Banning Loan Issuance Under the Act, insider stock trades will have to be reported by the second day following any transaction. 38 U nder current law, insiders do not have to report trades until the tenth day of the month following the month in which the trade occurred, meaning that an insider trade could go unreported for as many as 40 days. Companies have 30 days to comply with the new deadline after the Act becomes effective. 39Senior management also is prohibited from any insider trading during all pension fund blackout periods, with this provision going into effect 180 days after the law’s enactment. 40The Act further orders companies, within one year, to file disclosures related to insider stock transactions electronically with the SEC and then to post these statements on the Internet within a day after they were filed with the commission. The companies are also directed to post these statements on their own Web sites by the end of the day after they were filed. 41The Act makes it unlawful for any public company to make loans to its executive officers and directors. There are a few narrow exemptions. One exemption applies to consumer credit loans made to executives on market terms in the ordinary course of the company’s consumer credit business. Another exemption applies to banks that are already covered by Federal Reserve regulations on insider loans. 42 Victims’ Safety Net Should any administrative or judicial proceeding mandate the disgorgement of funds by a securities issuer (including any civil penalties collected), the SEC would be authorized to set up a disgorgement fund (for the distribution of such funds to victims), to which people could give gifts, bequests, and property for such allocation. 43 The SEC’s Task SEC funding for fiscal year 2003 is authorized at $776 million. 44 T he commission’s current budget is $438 million. Of the total $776 million proposed: $102.7 million would be used to increase pay levels and benefits for SEC employees so that they are on a par with banking regulators; $108.4 million would be used for technology improvements and funding needs stemming from the September 11 terrorist attacks that destroyed the commission’s Northeast Region Office; and $98 million would be used to add 200 new professionals, mostly auditors and enforcement staff. 45The Act also directs the SEC to complete a study of the role and function of the credit-rating agencies in the securities market. 46 T he study is to be sent to House and Senate committees within 180 days of the law’s enactment. In conducting the study, the SEC is to consider the roles that credit-rating agencies play in evaluating issuers, any impediments to their being able to accurately appraise the financial resources and risks of issuers, and whether there are any barriers preventing other entities from becoming credit-rating agencies that need to be removed. The commission is also directed to examine whether the credit rating agencies have any conflicts of interest.The SEC is also required to study the violators and violations of the securities laws, as well as the sanctions imposed, and to complete the study within six months of the bill’s enactment. 47 Conclusion The Public Company Accounting Reform and Investor Protection Act of 2002 establishes a carefully constructed statutory framework to deal with the numerous perceived conflicts of interest that in recent years have appeared to undermine the integrity of our capital markets, and betray the trust of millions of investors. The changes in our nation’s financial accounting structure contained in this law will undoubtedly strengthen the confidence and trust of investors, and will increase the transparency and acceptability of financial statements. At the same time, public companies, their officers and directors, the accounting industry, and outside securities counsel are all presented with greater responsibilities and intricate rules with which they must now comply. Understanding these detailed provisions, and the additional rules and regulations that will follow shortly, is now imperative. Newer, stronger compliance is now mandated, as a result of the current hostile environment demanding more enforcement and harsher penalties. The failure to heed these requirements in the current environment may prove to be catastrophic. Those who continue to adhere to a “let them eat cake” mentality may face the economic and professional guillotine quite swiftly. Thus, all future SEC investigations may prove to be much more serious than in the past, requiring heightened alertness and the best possible defense from the get-go. Barton S. Sacher is the senior, founding partner of the Miami firm of Sacher, Zelman, Van Sant, Paul, Beiley, Hartman, Terzo & Waldman, P.A.; the former chief of investigations and enforcement of the Securities Exchange Commission’s Southeastern Region; and a securities law practitioner for 30 years. Scott A. Burr, of counsel to the firm, has developed a 15-year expertise in the prosecution and defense of class action lawsuits. Joseph A. Sacher is a senior associate in the firm’s securities law group. Sacher, Zelman, Van Sant, et al. regularly represent foreign and domestic individuals, public companies, broker-dealers and others in securities transactions, periodic filings, litigation and regulatory proceedings before the SEC, NASD, and state and federal courts, and provides advice and representation to accounting firms and law firms as well. 1 H. R. 3763; S-2673. 2 T itle I, Secs. 101, 107. 3 T itle I, Sec. 102. 4 T itle I, Sec. 104. 5 T itle I, Sec. 102(a). 6 T itle I, Sec. 105(c)(5). 7 T itle I, Sec. 105(c)(4). 8 T itle I, Secs. 105(e),107(c). 9 T itle I, Sec. 106. 10 T itle I, Sec. 101(e). 11 T itle I, Sec. 101(d). 12 T itle I, Sec. 103(a). 13 T itle I, Secs. 103, 108, 109(a). 14 T itle II, Sec. 201(a). 15 Id. 16 T itle II, Sec. 201(b). 17 T itle II, Sec. 202. 18 T itle II, Sec. 203. 19 T itle III, Sec. 302(a). 20 T itle III, Sec. 304(a). 21 T itle III, Sec. 302(b), (c). 22 T itle XI, Sec. 1103. 23 T itle III, Sec. 305(a). 24 T itle III, Sec. 305(5). 25 T itle III, Sec. 301. 26 T itle IV, Sec. 406. 27 A BA Model Rules of Professional Conduct, 2002 Edition, Client-Lawyer Relationship Rule 1.13, Organization as Client. 28 T itle III, Sec. 307. 29 T itle IX, Sec. 906. 30 T itle VIII, Sec. 807. 31 T itle IX, Sec. 903(a), (b). 32 T itle VIII, Sec. 806. 33 T itle XI, Sec. 1107. 34 T itle VIII, Sec. 803. 35 T itle VIII, Sec. 804. 36 5 01 U.S. 350, 111 S.Ct. 2773, 115 L.Ed.2d 321 (1991). 37 T itle VIII, Sec. 802. 38 T itle IV, Sec. 403. 39 Id. 40 T itle III, Sec. 306(a); Title XI, Sec. 1102.. 41 S ec. 403. 42 T itle IV, Sec. 402. 43 T itle III, Sec. 308. 44 T itle VI, Sec. 601. 45 Id. 46 T itle VII, Sec. 702. 47 T itle VIII, Sec. 703. September 1, 2002 Regular Newslast_img read more

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East Islip Man Charged With Fatal DWI Crash

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first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York An 84-year-old woman was killed when an alleged drunken driver crashed into the car she was driving in her hometown of Central Islip over the weekend, Suffolk County police said.Charles Koukalenios, 29, of East Islip, was driving his Chevrolet Camaro northbound on Carleton Avenue when he crossed into opposite lane of traffic and crashed into a southbound Buick Century near Spur Drive North at 3:30 p.m. Sunday, police said.Koukalenios and the other driver, by Mary Rogalle, were taken to Southside Hospital in Bay Shore, where she was pronounced dead and he was treated for non-life threatening injuries.Koukalenios was charged with driving while intoxicated. He is scheduled to be arraigned at First District Court in Central Islip at a later date.Vehicular Crimes Unit detectives ask anyone who may have witnessed this incident, or has information about this incident, to call them at 631-852-6555 or anonymously to Crime Stoppers at 1-800-220-TIPS.  All calls will be kept confidential.last_img read more

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Forecasters: Delayed Storm Will Drop 6-8 Inches of Snow on Long Island

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first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York The winter storm that was expected to roll into Long Island late Wednesday night was slightly delayed, but projections of between 6 to 8 inches of snow remains the same. Long Islanders expecting to see at least a few inches of snow on the ground Thursday morning woke up to little to no accumulation because cold air coming from the north didn’t make its way to the region until about 5 a.m., Tim Morrin, a meteorologist at the National Weather Service’s Upton office, said.At that point, rain started to transition to snow, which picked up in intensity as most people were hitting the roads for the morning commute. The weather service issued a winter storm warning for both Nassau and Suffolk counties until 7 p.m. Thursday. Morrin said snow will fall throughout the day and should impact the evening commute. The storm is expected to taper off sometime between 5 and 7 p.m., Morrin said. Temperatures will also plummet during the course of the day, dropping into the 20s in the afternoon and then becoming cooler overnight. The weather service is warning commuters of hazardous travel conditions “due to falling temperatures and road icing.” The snow will also cause reduced visibility. “A winter storm warning for heavy snow means severe winter weather conditions are expected or occurring,” the weather service said in a statement. “Significant snow amounts of snow are forecast that will make travel dangerous. Only travel in an emergency.” Drivers who must travel should have a flashlight, food and water in their vehicle, the agency said.last_img read more

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Amazon Expands in Brazil, Riding E-Commerce Boom Set Off by COVID-19

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first_imgAmazon said on Monday it had opened three more logistics centers in Brazil to take advantage of the boost the COVID-19 pandemic has given to e-commerce in South America’s largest economy.The new units are already operating in the states of Minas Gerais and Rio Grande do Sul and the capital city of Brasilia. They increase the number of Amazon logistics centers in Brazil to eight, expanding its reach to all corners of the vast country.- Advertisement – The expansion, which adds 75,000 square metres (807,000 square feet) of distribution space, is Amazon’s biggest since it began operating in Brazil in 2012. It will create 1,500 direct jobs, the company said in a statement.Alex Szapiro, Amazon’s chief executive in Brazil, said the new centers will allow the company to immediately raise the number of cities where Amazon Prime customers can receive deliveries within two business days to over 500 from 400.“Brazil is the country with the fastest growth in Amazon Prime subscriptions,” Szapiro told Reuters, referring to the company’s loyalty program, which was launched in Brazil in September last year.- Advertisement – MercadoLibre’s operation in Brazil, which accounts for more than half of its total business, more than doubled.Other companies in Brazil, including Via Varejo, GPA and Magazine Luiza, are buying up logistics startups to ride the same e-commerce wave.© Thomson Reuters 2020Which is the best TV under Rs. 25,000? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below. In recent months, thousands of Brazilian businesses have migrated to e-commerce platforms as a result of social distancing measures and lockdown measures.Despite the gradual easing of the measures, the migration to digital sales has continued.Last week, MercadoLibre, Latin America’s e-commerce leader, announced that its net revenue in the region soared nearly 150 percent in the third quarter, measured in local currencies.- Advertisement – – Advertisement –last_img read more

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Former Wallabies skipper James Horwill open to rental offers

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first_imgHis Reds time was not in vain though, with the two metre tall lock having two houses in two of Brisbane’s hottest suburbs to show for it.He bought the two properties within two years of each other — a three bedder in Red Hill for $750,000 in 2009 and another in Paddington in 2011. Both house were also within minutes of the Reds’ homebase at Suncorp Stadium.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 9:10Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -9:10 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p270p270p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenPrestige property with Elizabeth Tilley09:10The Red Hill home is a 1920s Queenslander that’s been revamped to perfection but, in a sign of how the rental market has turned, Horwill has had to drop the rent on it by $150 a week over a seven-year period. He currently has it listed for $650 a week when it was $800 a week when the Reds won the Super Rugby in 2011. The second property — which also comes with a pool — was listed at $1000 a week last month. Former Wallabies rugby player James Horwill could be your new landlord. Picture: AFP Photo/Patrick HamiltonFORMER Wallabies and Reds skipper James Horwill is making good use of his time away, opening up to offers on two of his Brisbane homes.Both homes are up for rent though, not for sale, with Horwill planning to use his last few years in rugby union wisely, earning income on opposite sides of the planet.After being dropped by the Wallabies, he chose to end his playing days by taking up a contract with iconic English rugby union team the Harlequins — even captaining the side in the 2017/18 season. INSIDE EMILY PALMER’S PROPERTY EMPIRE RICHLISTER SELLING COAST APARTMENT More from newsParks and wildlife the new lust-haves post coronavirus19 hours agoNoosa’s best beachfront penthouse is about to hit the market19 hours agoHorwill’s Paddington house has a pool with a rental price tag of $1000 a week.last_img read more

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The Gold Coast suburbs at the centre of a price boom

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first_img MORE NEWS: What the Coast’s property market will look like in a decade 1. Jacobs Well, up 15 per cent to $560,0002. Paradise Point, up 15 per cent to $1,137,5003. Biggera Waters, up 15 per cent to $780,0004. Maudsland, up 12 per cent to $643,7505. Tallai, up 7 per cent to $895,0006. Palm Beach, up 6 per cent to $857,0007. Miami, up 5 per cent to $775,0008. Ormeau, up 5 per cent to $504,0009. Labrador, up five per cent to $550,00010. Broadbeach Waters, up 4 per cent to $1.15 million.(Source: realestate.com.au) Jacobs Well is one of the suburbs that has seen 15 per cent growth on its median house price in the past year.GOLD Coast house prices have been slowly climbing over the past year but some suburbs appear to be in the midst of a price boom.Latest realestate.com.au data shows median house prices in Jacobs Well ($560,000), Paradise Point ($1,137,500) and Biggera Waters ($780,000) have jumped as much as 15 per cent in the year to the end of May.While it has been a slow year for the Australian property market, industry experts say the spikes come as no surprise.Realestate.com.au chief economist Nerida Conisbee said most of the Coast’s suburbs that recorded hefty rises were under $1 million. MORE NEWS: QLD suburb tops the nation Several suburbs have seen prices surge over the past year. More from news02:37International architect Desmond Brooks selling luxury beach villa11 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoThere have been a few big sales on the Sovereign Islands at Paradise Point recently.Increased demand as well as a rise in the number of people knocking down older homes and building new ones was what he said was bumping prices up.Harcourts Coastal agent Tim Zampech echoed Mr Mian’s comments, explaining the northern suburbs were the next best beachside areas.“Even though it’s not the surf beaches, it’s still a beachside suburb and it’s still so cheap in comparison to other suburbs on the Coast,” he said.“Some people’s budgets wouldn’t allow them to get into the more expensive suburbs, these will always be more affordable than the central suburbs.”According to the data, Maudsland had the second-highest increase with its median house price jumping 12 per cent followed by Tallai (7 per cent) and Palm Beach (6 per cent). TOP BOOM HOTPOTS “Some of them aren’t that expensive so that’s part of it,” she said.“There are people who are looking for affordability and those areas provide that.”She said with more house hunters flocking to the areas, the more likely prices would increase.An influx of young renters wanting to buy, particularly in the more affordable locations, was also contributing to the increases.“We’ve been seeing really strong rental demand on the Gold Coast for the past couple of years,” she said.“I think there’s been a lot of young people looking to these areas now they’re looking to buy.”Amir Mian, the director of his self-titled agency, compared Paradise Point to Mermaid Beach, explaining they both had similar village lifestyles with a popular cafe and restaurant scene.“It is offering what Mermaid Beach is offering,” he said. “The difference there is that it’s mostly residential … and less touristy.” Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p360p360p216p216pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenWhy location is everything in real estate01:59last_img read more

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Smulders Assembles First Beatrice Jacket

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first_imgThe foundations project for the Beatrice offshore wind farm has moved forward as Smulders placed the first upper jacket on top of the first lower jacket at its UK yard in Newcastle upon Tyne.The complete jacket now has a height of approximately 70 meters.The upper jacket parts are produced at the Smulders yards in Belgium, whereas the lower jacket parts are produced at the Smulders Projects UK yard.Seaway Heavy Lifting, a Subsea 7 company in charge of the engineering, procurement, construction and installation of the turbine foundations and array cables, awarded Smulders Projects the contract for 28 Beatrice jacket foundations. Bladt and BiFab will fabricate the remaining 30 and 26 jackets for this project.Offshore installation activities are scheduled to be executed in 2017 and 2018 using Seaway Heavy Lifting’s heavy lift vessels, Stanislav Yudin and Oleg Strashnov.The Beatrice wind farm will comprise 84 Siemens turbines with a total capacity of 588MW. The wind farm will be located in the Outer Moray Firth, off the north coast of Scotland and will produce enough energy for approximately 470,000 homes.The offshore wind farm is expected to become fully operational in 2019.last_img read more

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