Sir Vince Cable condemns ‘shocking’ link between Treasury targets and RBS bosses’ pay

first_imgThursday 31 January 2019 8:22 pm Sir Vince Cable condemns ‘shocking’ link between Treasury targets and RBS bosses’ pay Former business secretary Sir Vince Cable has hit out at “shocking” evidence that appears to suggest the pay of RBS’s top brass within its controversial global restructuring unit (GRG) was linked to Treasury targets.Fresh questions are being asked about the extent of the Treasury’s involvement in RBS’s GRG unit following allegations that emerged in court papers this week that suggest the government had strategic control of the bank’s turnaround arm. The GRG was supposed to help struggling firms but stands accused of seeking to profit from distressed businesses instead. The allegations of Treasury control in the unit emerged in a court case between Manchester-based businessman Oliver Morley, who is suing RBS for allegedly placing his business under “economic duress” when the bank’s property arm, the West Register, acquired some of his assets in 2010.RBS has said it “fundamentally disagrees with Morley’s claims and does not believe they have any merit”.Morley has also suggested he will pursue legal action against the Treasury over its alleged role in influencing the GRG. A spokesperson for the Treasury said: “No claim has been brought against HM Treasury. This court case is between the claimant, Mr Morley and RBS.”Read more:  City watchdog taken to court over failure to act in Royal Bank of Scotland GRG scandalOn the apparent link between RBS pay and Treasury targets, a spokesperson for HM Treasury said: “The APS’s objective was to maintain financial stability and protect taxpayers’ interests by ensuring participating banks managed their exposure to high-risk assets responsibly, while at the same time treating their customers fairly.“The FCA skilled persons’ review of RBS GRG made it clear that participation in the APS made no difference to the way in which RBS customers were treated.” whatsapp “Any evidence the Treasury was taking measures to harm small businesses is very damning.”Co-chair of the parliamentary group on fair business banking, Kevin Hollinrake, said the relationship between the APA and the GRG was of “real concern, particularly in the context of all that happened at GRG”.He said the APA’s strategic oversight of the GRG was “reasonable – but not if it resulted in the scandalous mistreatment of small businesses”.“If the priorities of the APA or the incentives struck between RBS and the APA drove that bad behaviour those are real concerns.”Earlier this week it was alleged that the APA wielded significant influence over RBS’s GRG unit, which has been strongly criticised for its role in mistreating the small business customers it was designed to help, often by acquiring their assets and selling them off to generate income for the bank. Alexandra Rogers Tags: Trading Archive Share whatsapp More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKansas coach fired for using N-word toward Black playerthegrio.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com Yesterday documents came to light which appeared to show that the incentives and bonuses of the GRG’s top bosses were evaluated against performance targets set by the Asset Protection Agency (APA), an arm of the Treasury that was established to run the Asset Protection Scheme (APS) that insured RBS’s toxic loans at the height of the financial crisis.Cable told City A.M: “It’s very clear where RBS got its instructions from.”He said it was “shocking” that bosses’ pay could have been driven by targets set by the Treasury. “It’s shocking because when I was secretary of state I pressed for the pay of RBS executives to be tied to lending to small businesses – the opposite of what GRG was doing.Read more:  Treasury under fire following allegations it had ‘influence’ over RBS GRG unit“At the time the Treasury refused because it said government had no role in influencing GRG behaviour in that way.last_img read more

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DEBATE: Was the Aston Martin IPO a folly?

first_imgLarge-scale investment is required to make this happen, but if orders are not coming through as hoped, cash flow becomes a nightmare – it may need to tap investors again. With shares trading down as much as they are, it would likely need to borrow more at a time when net debt is already looking lofty. DEBATE: Was the Aston Martin IPO a folly? Share Opinion whatsapp Given the company’s troubles, was the Aston Martin IPO a folly? Aston Martin requires backers to show patience at this critical phase of expansion – going public instantly makes that many times harder and exposes the company to the public glare of quarterly updates and results. Neil WilsonNeil Wilson is chief market analyst at Markets.com. and Adam LloydAdam Lloyd is a partner on the Newgate Communications capital markets team. That is probably the lesson that even professional investors potentially ignored when reading the prospectus – focus on the numbers and not the sexy sales copy and glossy images. It may not be long before it goes private again. If it does, we could safely describe its IPO as a disaster. Given the size of the business and the global reputation of the Aston Martin brand name – James Bond and all – it is perfectly reasonable for the Midlands-based business to join the ranks of other publicly-trading companies. Aston Martin has gone bust seven times. Investors should be wary of this past record – sales cycles in the sector can be far bumpier than that on offer to well-heeled passengers in its cars. Now, to justify its forecasts in its prospectus, it has to drastically ramp up production and sales to levels many times above where it has previously operated. Main image credit: Getty City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. LONDON, United Kingdom: An Aston Martin badge is photographed on a vehicle in a showroom in London, 01 September 2006. US auto giant Ford announced Thursday it wants to hive off Aston Martin, the dashing sports car immortalized by fictional superspy James Bond. The loss-making Detroit company said it wanted to free up resources for its other auto brands, and said that prospective buyers had already come forward for the legendary British marque. AFP PHOTO / SHAUN CURRY (Photo credit should read SHAUN CURRY/AFP/Getty Images) Neil Wilson, chief market analyst for Markets.com, says YES. Not to sound too philosophical, but whether the IPO was a success depends entirely on your perspective. For the vendors (the previous owners that sold their shares in the company), the IPO has to be regarded as a huge success. They were able to secure a valuation that was arguably more a reflection Aston Martin’s premium luxury brand status than its business and investment case. Friday 26 July 2019 4:01 am Caveat emptor. Adam Lloyd, partner on the Newgate Communications capital markets team, says NO. Lowering sales guidance less than a year after listing is a crime that many investors would feel warrants some devious Bond-villain style punishment. For the investors who came in at the IPO, the fall in the share price has been painful and the latest downgrades to forecasts give little hope of any short-term recovery. whatsapplast_img read more

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How can banks factor in climate change without damaging the economy?

first_img Share This means that, regardless of sea levels, banks have a hard deadline to really understand the extent of the risks that climate change might pose, and how to mitigate them. Opinion Rob SmithRob Smith is a banking partner at KPMG UK. To think of climate change as a side issue is to underestimate the real, tangible risks for banks — and for the businesses and individuals that they finance. But the impact on the financial services sector goes beyond just the insurance industry.  However, the 40 per cent of Britons who don’t yet own a home probably won’t be cheering that approach. Neither will the people living in at-risk areas, who could see the value of their most prized asset plummet overnight. And what would it mean for our housebuilders, who are under pressure to build nearly four million new homes to ease the UK’s housing crisis? In 2021, these tests will include a scenario on climate change. The regulator wants to know that our biggest financial institutions really can weather any storm without bringing the economy to its knees. In a few weeks, we will get the results of the UK bank stress tests, which is a measure of our biggest banks’ ability to withstand the toughest of economic shocks. In Bristol, the council has proposed banning diesel vehicles from the city centre, and we can only expect to see more of this sort of initiative. Diesel and petrol cars will therefore lose value as they fall out of favour with the public and policymakers, and banks risk being left with a lot of high-risk loans and low-value cars. When we think of climate change and financial services, we tend immediately to think of insurers and their exposure to natural catastrophes such as fires, floods or hurricanes. And it is true that insurers are, and will increasingly be, hit hard by changing weather conditions. Homes on flood plains, for instance, will become more difficult to insure.  In a recent KPMG poll, 70 per cent of the British public said that they care more about the environmental impact of their consumption than they did five years ago. And 62 per cent said that they look to corporate Britain to make sure their consumption is responsible.  In doing so, banks would be taking a leap towards discouraging environmentally damaging construction, factoring in the increased risk of climate change and putting a big tick against their environmental credentials. This is leading to a change in corporate and public behaviour, which will have an impact on the value of the assets underlying the banks’ balance sheets. Hotels are moving away from using plastic bottles, retailers from single-use bags, and even the transport industry is moving away from oil.  Thursday 5 December 2019 10:56 am Banks and regulators have worked hard to reduce consumers’ use of car finance, but it still makes up a notable amount of overall consumer credit. If lenders start making it harder for those still producing, selling or buying non-environmentally friendly assets to get financing, it can have a huge impact on livelihoods and companies’ ability to operate.  For example, will banks have to make mortgages for homes built on flood plains more expensive to factor in the increased costs resulting from climate change? Or will they refuse to offer mortgages for homes that are not built or adapted to the latest environmental standards?  City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. How can banks factor in climate change without damaging the economy? While many argue that melting ice caps and rising sea levels are a very distant threat, let’s think about the here and now.  For every action, there is a reaction. And when it comes to balancing finance and the environment, the balance needs to be finely struck and carefully evolved. So at what point can banks really start to protect the environment and their reputation? whatsapp So far in 2019 alone, the Bank of England has issued seven separate communications on the topic. The European Commission has also issued a raft of new rules for all types of financial services firms and is now looking at changing banks’ capital requirements to take account of the increased risk climate change poses. Changes must be made, but they must not be to the detriment of financing our economy in the short term. Britain needs a steady and considered transition towards a financial system that prices assets for the long term, and which sensibly incentives environmentally-responsible industry. whatsapplast_img read more

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South West London homes grow in demand as end of lockdown nears

first_img Share “This is a trend that has been brought about due to lockdown restrictions and is no doubt here to stay, if only for the short to medium term.” As the end of lockdown nears, the leafy suburbs of the capital have seen a one per cent increase in interest by high-end homebuyers in the £2m and over range. High-end homes in South West London have grown in demand in the first quarter of this year, according to estate agent Benham and Reeves. Home’s worth £10m or more have seen a two per cent rise in interest, with eyes looking to Holland Park, Notting Hill, Chelsea and Victoria as prime locations in Central London. Show Comments ▼ Monday 12 April 2021 8:41 am Millie Turner Locations in South West London were the most desirable to high-end home buyers, with Wimbledon, Barnes, Richmond, Chiswick, Putney and Clapham making the top six. Also Read: South West London homes grow in demand as end of lockdown nears “We’re slowly but surely seeing momentum grow across the prime London market and a further uplift in homebuyer demand during the first quarter is certainly a positive sign for the year ahead,” Benham and Reeves director, Marc von Grundherr, said. Locations in South West London were the most desirable to high-end home buyers, with Wimbledon, Barnes, Richmond, Chiswick, Putney and Clapham making the top six. whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeLivestlyPlugs Have These Two Holes At The End, Here’s WhyLivestlyDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily FunnyThe Legacy ReportMan Who Predicted 2020 Crash 45 Days Early Issues Next Major WarningThe Legacy ReportBrake For It40 New Features In The 2021 Ford BroncoBrake For ItFactableAluminum Foil Uses You’ll Want to KnowFactableMoneyWise.comMechanics Say You Should Avoid These Cars In 2021  MoneyWise.comPast Factory”Waltons” Actress Says Magazine Ended Her CareerPast FactoryZen HeraldShe Inspired Three Of The Most Popular Songs EverZen HeraldHomeLight.comDon’t Make This Mistake When You Sell Your Home. Try these 7 websites.HomeLight.comcenter_img Notting Hill and Holland Park are home to the highest levels of current demand, enjoying the largest quarter to quarter increase in its price threshold, Benham and Reeves data showed. Locations in South West London were the most desirable to high-end home buyers, with Wimbledon, Barnes, Richmond, Chiswick, Putney and Clapham making the top six in that price range. Tags: London Locations in South West London were the most desirable to high-end home buyers, with Wimbledon, Barnes, Richmond, Chiswick, Putney and Clapham making the top six. Also Read: South West London homes grow in demand as end of lockdown nears “These locations offer larger homes but more importantly, both the homes available and the wider areas boast a greater abundance of green space, which has fast become a must-have for high-end homebuyers,” von Grundherr added. Locations in South West London were the most desirable to high-end home buyers, with Wimbledon, Barnes, Richmond, Chiswick, Putney and Clapham making the top six. Also Read: South West London homes grow in demand as end of lockdown nears whatsapp South West London homes grow in demand as end of lockdown nears More From Our Partners 980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comWhy people are finding dryer sheets in their mailboxesnypost.com Wimbledon saw a 12 per cent rise in interest since last year and has the highest demand in South West London, at 44 per cent.last_img read more

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After-school service now up and running for new term in Little Treasures in Portlaoise

first_img Here are all of Wednesday’s Laois GAA results After-school service now up and running for new term in Little Treasures in Portlaoise By LaoisToday Reporter – 7th September 2019 Twitter GAA Facebook SEE ALSO – In Pictures: Exciting times as Little Treasures opens for new term Have you children in school in the Portlaoise area but could do with availing of an after-school service?Little Treasures preschool and after-school facility has recently opened on the Borris Road in Portlaoise under owner Elaine Gavin and are offering an after-school school service every day from 1.30pm to 6pm for primary school children.The first half hour is free with a charge of €5 an hour after.Children get a hot nutritious lunch, can play in all the areas and do their homework before being picked up. There is no minimum committment and children can be there any combination of days during the week.Elaine Gavin has her Level 8 degree – the highest qualification in the childcare industry – having studied for her VTEC Level 5 in Portlaoise College, her BSC in Education and Training in DCU and a Higher Diploma in Early Childcare Education and Care. Previous articleThe hottest of them all – it’s our final selection in Laois’s Hottest Men!!Next articlePreviewing Saturday’s hectic day of Laois club hurling action LaoisToday Reporter TAGSElaine GavinLittle Treasures Kelly and Farrell lead the way as St Joseph’s claim 2020 U-15 glory GAA Home Sponsored After-school service now up and running for new term in Little Treasures… Sponsored Pinterest WhatsApp WhatsApp RELATED ARTICLESMORE FROM AUTHOR She also studied Leadership in Access and Inclusion in Mary Immaculate in Limerick.Little Treasures currently have 22 children enrolled who are cared for by Elaine and Abbie Wallace-Blessing, who also has her Level 8 qualification.As well as providing the free ECCE year – with a 9am to 12noon options and 12.30pm to 3.30pm – there is also part-time hours where the playschool children can stay on for two extra hours for a cost of €5 per hour.To enquire about any of the Little Treasures offerings or to book a place you can get in touch with owner Elaine Gavin on 085 1556913. Twitter GAA Pinterest Facebook 2020 U-15 ‘B’ glory for Ballyroan-Abbey following six point win over Killeshinlast_img read more

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Toronto, Regina and Winnipeg at high risk of housing market correction: CMHC

first_img Keywords HousingCompanies Canada Mortgage & Housing Corp. Share this article and your comments with peers on social media Dana Senagama, CMHC’s market analyst for Toronto, says it’s the detached housing market — and not the much-discussed condo segment — that faces a higher degree of risk. “Contrary to a lot of the chatter surrounding the condo market and unrealistic price growth happening in that segment … we’re really seeing the rapid gains are being felt in the low-rise category, particularly in the single detached homes,” said Senagama. Prices of detached homes have been growing at roughly double the pace of condo units for the past four or five quarters, Senagama said. In Regina, price acceleration, overbuilding in the condo market and overvalued home prices are responsible for the heightened housing market risk, according to the report, although CMHC notes that price growth is beginning to wane. In Winnipeg, overvalued home prices and overbuilding have been flagged as concerns. Meanwhile, Vancouver — one of the country’s priciest real estate markets — has been deemed low risk, even as home prices continue to soar. The benchmark price of a detached home in metropolitan Vancouver hit $1.1 million in July, up 16.2% from a year ago, the Real Estate Board of Greater Vancouver said last week. “I think a lot of the reason for concern with respect to Vancouver is the tendency to equate high price levels with overvaluation,” said Bob Dugan, CMHC’s chief economist. “High prices are only part of the story.” Dugan said overvaluation measures take into account whether prices are supported by underlying factors such as incomes, population growth and, in the case of Vancouver, land constraints. “You have the mountains on one side, the ocean on the other and you have the Agricultural Land Reserve,” Dugan said, referring to a parcel of land set aside for farming where housing development is prohibited. “There isn’t a lot of land. There’s a lot of constraints there that put upward pressure on prices.” On a national level, CMHC says there is a modest risk that home prices are overvalued. CMHC’s house price analysis and assessment aims to identify potential risks in Canadian real estate by evaluating economic, financial and demographic factors. The agency uses four factors to identify the level of risk present in regional housing markets: overheating of demand, accelerating price growth, overvaluation of prices and overbuilding. Alexandra Posadzki GTA home sales down 13% between April and May: TRREB Facebook LinkedIn Twittercenter_img Global housing prices rise amid pandemic: BIS Related news Tougher stress tests won’t chill housing market: Scotia Canada Mortgage and Housing Corporation has added Toronto to its list of troubled housing markets, saying that rapid price growth and overvalued home prices put the country’s biggest real estate market at high risk of a correction. Toronto joins Regina and Winnipeg, which the mortgage insurer placed in the high risk category back in April. At the time, Toronto was only labelled as facing a moderate level of risk due to overvaluation. last_img read more

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Draft Settlement Strategy on Public Exhibition

first_imgDraft Settlement Strategy on Public Exhibition Cabonne Council and iPlan Projects have prepared the Draft Cabonne Settlement Strategy 2021-2041 that sets out the future growth potential for all of the key settlements in Cabonne. At its February Ordinary Meeting, Cabonne Council resolved to place the Draft Strategy on public exhibition for a period of no less than 28 days, from Monday 8 March 2021 to Monday 12 April 2021.This Strategy is important as it will help guide decision-making by Council and the NSW Government on areas for future business and residential expansion over the next 20 years. It considers locations for infill development in existing urban zones and, if required, expansion of urban areas into surrounding rural areas.This may affect the character of a settlement, its amenity, or future development opportunities on the land in the settlement, therefore it is important to submit any feedback you may have.The Strategy is broken down into three main documents, the Settlement Options Paper, the Local Profile & Issues Paper, and the Settlement Implementation Paper. A copy of these documents will be available for download through Council’s website by clicking here: Cabonne Settlement StrategyThe documents can also be viewed in hardcopy at the Council offices in Molong, Cudal and Canowindra, or by contacting your progress association.Should you wish to discuss the Draft Settlement Strategy, you can contact Cabonne Council on 6392 3200. For more specific feedback, Cabonne Council’s Department Leader of Development Services, Chris Eldred, will be available for individual meetings from Tuesday 6 April to Friday 9 April. Please call Council’s Development Services on 6392 3265 to arrange an appointment. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:business, Cabonne, Canowindra, council, Cudal, Download, Exhibition, future, Government, local council, Molong, NSW, settlement, websitelast_img read more

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6 Pickups chained together tow semi-trailer stuck off the road

first_img We encourage all readers to share their views on our articles using Facebook commenting Visit our FAQ page for more information. This semi-trailer truck‘s back tires got stuck off the road in the snow, rendering it immobile. Six pickup trucks banded together to help and tow the heavy vehicle. Trending Videos RELATED TAGSFlexNew VehiclesFlex The Rolls-Royce Boat Tail may be the most expensive new car ever They joined links using chains and drove ahead, freeing the stuck truck by pulling it forward. See More Videos COMMENTSSHARE YOUR THOUGHTS PlayThe Rolls-Royce Boat Tail may be the most expensive new car everPlay3 common new car problems (and how to prevent them) | Maintenance Advice | Driving.caPlayFinal 5 Minivan Contenders | Driving.caPlay2021 Volvo XC90 Recharge | Ministry of Interior Affairs | Driving.caPlayThe 2022 Ford F-150 Lightning is a new take on Canada’s fave truck | Driving.caPlayBuying a used Toyota Tundra? Check these 5 things first | Used Truck Advice | Driving.caPlayCanada’s most efficient trucks in 2021 | Driving.caPlay3 ways to make night driving safer and more comfortable | Advice | Driving.caPlayDriving into the Future: Sustainability and Innovation in tomorrow’s cars | Driving.ca virtual panelPlayThese spy shots get us an early glimpse of some future models | Driving.ca last_img read more

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Santa Monica public meetings to focus on Expo Line safety

first_imgHomeNewsTransportationSanta Monica public meetings to focus on Expo Line safety Jan. 16, 2016 at 6:50 amTransportationSanta Monica public meetings to focus on Expo Line safetyJennifer Maas5 years ago7th streetcolorado avenueCulver Citydowntown los angelesExpo Light Railexpo linelauralee aschlight raillos angeles metroNewspublic safetypublic transitsanta monica newssanta monica policetransportationvirginia avenue(Photo courtesy of Metro) The Santa Monica Police Department has scheduled two meetings in January to discuss the Expo Line safety with the community.The meetings will be led by SMPD and Metro personnel and involve tips for staying safe while walking, biking or driving near the Expo Line.“The reason that we think [the meetings are] important is because we want to make sure people are safe and we realize this is a big change in the daily lives of our residents and people who work here because we haven’t had a train here in 50 years,” SMPD crime prevention coordinator Lauralee Asch said.“We’ve already been doing a lot to inform the public, but we reached out to our partners at Metro to create the presentation, the majority of which will be Q&A.”Expo trains have been undergoing tests along the extended track from Culver City to Santa Monica in recent months. The extended line is expected to be open to passengers by mid-2016.“Even though the train is not open they are up and running in testing mode. And the same rules apply when the train is testing as when it is running. So we have to start safe practices now,” Asch said.In December, an Expo Line train being tested in Santa Monica derailed after hitting a truck at the intersection of Colorado Avenue and 7th Street.The crash marked the first major incident involving a train in Santa Monica since testing began on the local portions of the light-rail track, which connects to downtown Los Angeles.Though this accident elicited Expo Line safety concerns in the community, Asch said this meeting has been in the works for months and is not related to the incident.“It’s a continuation of [SMPD’s] educational outreach,” Asch said.The presentation will include general information about the Expo and specific safety information. Asch said that the target audience for the meeting is anyone who lives, works or happens to be in Santa Monica, but will have information most pertinent to residents.“We want to cover as much information as we can. We don’t want to impact people’s lives by having a three-hour meeting. But we want to be able to address our safety concerns: illegal driving, biking and walking behaviors that our officers have already seen.”The meetings will be held Wednesday, Jan. 20 at Virginia Avenue Park, Thelma Terry Center (2200 Virginia Ave.) from 7 – 8 p.m. and Wednesday, Jan. 27 at the Main Library, MLK Auditorium (601 Santa Monica Blvd.) from 7 – 8 p.m.For more information, call SMPD Community Affairs at (310) [email protected] :7th streetcolorado avenueCulver Citydowntown los angelesExpo Light Railexpo linelauralee aschlight raillos angeles metroNewspublic safetypublic transitsanta monica newssanta monica policetransportationvirginia avenueshare on Facebookshare on Twitteradd a commentCommunity mourning loss of Santa Monica High grad, 18Inside/Outside: First year in reviewYou Might Also LikeBriefsNewsPublic Health Emphasizes the Importance of Vaccinations as Distancing and Masking Guidelines Relax Next WeekGuest Author2 days agoBriefsNews“Righting Our Wrongs” performance on June 11Guest Author2 days agoBriefsNewsSEATTLE Feds plan to curtail West Coast salmon fishing to help orcasGuest Author2 days agoBriefsNewsBeach House Begins Community Re-Opening June 15Guest Author2 days agoBriefsNewsInput Invited for Marine Park Improvement ProjectsGuest Author2 days agoColumnsFeaturedNewsOpinionWhat’s the Point?whats the pointGAY PRIDE MONTH IS HERE FOR ALL OF USDavid Pisarra2 days agolast_img read more

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Senators Begin Mulling Over House Transportation Plan

first_img ‘It’s Fractured’: Georgia Lt. Gov. Geoff Duncan On Healing Republican Party For Whom The Bell Rings Share Related Stories Legal Advocate Discusses Medical Abuse At Shut Down Georgia ICE Facility 1:27 | Play story Add to My ListIn My List A House plan that’s supposed to raise $1 billion for transportation was a hot topic among senators at the state Capitol yesterday.The proposal, put forward by Rep. Jay Roberts, R–Ocilla, was unveiled last week. It would raise Georgia’s excise tax to 29.2 cents per gallon of gas and move away from state and local sales taxes on fuel.1:27A Senate committee began discussing the bill even though House lawmakers haven’t even taken it up yet. They also heard testimony on how the state’s current system works.The head of the committee wanted senators to start looking at what a shift away from sales taxes to an excise tax would mean for the local governments they represent. Excise taxes are part of the price per gallon and fluctuate less with the cost of gas.Clint Mueller is the legislative director for the Association County Commissioners of Georgia. He told them it would affect every county differently.“We have some small counties that are on interstates, and they rely heavily on sale of motor to support their sales tax base; versus other counties that may not be on the interstate; or they may be large counties,” Mueller says, ”and it doesn’t make up as a great a percentage of their sales tax base.”Several county leaders have raised concerns about the half a billion dollars they would lose under the bill. Under the plan, county commissions and city councils could make up for the sales tax revenue they would lose, after those taxes expire, by approving up to a 3 cents per gallon excise tax. They could also ask voters for up to an additional 3 cents. But several local leaders consider that a tax increase and say state lawmakers are passing the buck to them.Senate Transportation Committee Chairman Tommie Williams, R-Lyons, says he plans to take several things into consideration as the bill moves forward.“One is: what the average person has to pay for taxes,” Williams said. ”Two: are we higher than every state around us when we’re done with this? We don’t want people driving across state lines to get gas in other states.”In general, Williams likes the idea of shifting to an excise tax. But he says it may not be the only solution to raise money for transportation.Williams also told committee members he wants to learn more about how Florida has taken future population growth into consideration as the state funded its transportation needs. Williams says the committee will study the Florida’s model and bring in some experts from the state to testify. last_img read more

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