Category: efmsxvjqwech

Michigan Gaming Control Board confirms Williams as new executive director

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Michigan Gaming Control Board confirms Williams as new executive director People moves Email Address The Michigan Senate voted 34-1 in favour of the appointment during a roll-call confirmation vote, with Williams to serve a six-year term at the helm of the MGCB. “I look forward to leading the agency’s continuing success and thank outgoing executive director Richard Kalm for his leadership and the opportunities he provided that paved the way for my appointment,” William said. Regions: Michigan Michigan’s Governor Gretchen Whitmer already approved Williams as Kalm’s replacement, buth the appointment was subject to Senate confirmation.center_img Read the full story on iGB North America. 18th May 2021 | By Robert Fletcher Tags: Michigan Gaming Control Board Henry Williams MGCB Williams has worked for the MGCB since 2001, most recently as deputy director of its casino operations division, providing oversight of the Enforcement Section, Employee Licensing, Gaming Lab and the Disassociated Persons program. Topics: People People moves Williams will replace Richard Kalm, who stepped down as executive director last monthafter serving in the role since 2007. The Michigan Gaming Control Board (MGCB) has formally announced Henry Williams as its new executive director following approval from the state’s Senate.last_img read more


August 24, 2021 0

Zambian Breweries Plc 2013 Annual Report

first_imgZambian Breweries Plc (ZAMBRW.zm) listed on the Lusaka Securities Exchange under the Beverages sector has released it’s 2013 annual report.For more information about Zambian Breweries Plc (ZAMBRW.zm) reports, abridged reports, interim earnings results and earnings presentations, visit the Zambian Breweries Plc (ZAMBRW.zm) company page on AfricanFinancials.Document: Zambian Breweries Plc (ZAMBRW.zm)  2013 annual report.Company ProfileZambian Breweries Plc (Zambrew) is a brewing and beverages company; producing and marketing a wide range of clear beers and soft drinks. The company has a virtual monopoly on clear brew products in Zambia, with popular South African brands in its product range such as Castle Lager, Redd’s, Castle Lite, Carling Black Label and Ohlsson’s Lager. The company also produces strong, local brands to cater for local tastes which are marketed under the Mosi Lager and Eagle Lager brand name. The Soft Drinks division produces well-known international brands, including Coca-Cola, Sprite, Fanta and Schweppes. The company has two breweries and three bottling plants in Zambia. SABMiller has a majority stake in Zambrew (87%). SABMiller is one of the world’s largest brewers, with more 200 beer brands in its international product portfolio. Zambian Breweries Plc is listed on the Lusaka Stock Exchangelast_img read more


July 12, 2021 0

Capital Hotels Plc (CHOTEL.ng) HY2019 Interim Report

first_imgCapital Hotels Plc (CHOTEL.ng) listed on the Nigerian Stock Exchange under the Tourism sector has released it’s 2019 interim results for the half year.For more information about Capital Hotels Plc (CHOTEL.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the Capital Hotels Plc (CHOTEL.ng) company page on AfricanFinancials.Document: Capital Hotels Plc (CHOTEL.ng)  2019 interim results for the half year.Company ProfileCapital Hotels Plc owns and operates the Sheraton Abuja Hotel in Nigeria which includes quality accommodation, restaurants, apartments for letting, recreational facilities, a night club and a business/conference centre. The Sheraton Abuja Hotel opened in 1990 and has gained international repute as a premier hotel operation in Abuja in Nigeria. The hotel is geared for tourists and business people offering a wide range of facilities and services. The Sheraton Abuja Hotel boasts quality air-conditioned accommodation, a selection of excellent restaurants, an outdoor pool, tennis court and fitness centre, a business lounge, conference and meeting facilities, banquet halls and a popular night club. Capital Hotels Plc operates out of the hotel in Abuja, Nigeria. Capital Hotels Plc is listed on the Nigerian Stock Exchangelast_img read more


July 12, 2021 0

Lux Island Resorts Limited (NRL.mu) HY2020 Interim Report

first_imgLux Island Resorts Limited (NRL.mu) listed on the Stock Exchange of Mauritius under the Tourism sector has released it’s 2020 interim results for the half year.For more information about Lux Island Resorts Limited (NRL.mu) reports, abridged reports, interim earnings results and earnings presentations, visit the Lux Island Resorts Limited (NRL.mu) company page on AfricanFinancials.Document: Lux Island Resorts Limited (NRL.mu)  2020 interim results for the half year.Company ProfileLux Island Resorts Limited, formerly known as Naïade Resorts Limited, is a collection of premium hotels in the Indian Ocean with running operations in Mauritius, the Réunion Island, the Maldives, China, Vietnam, Turkey, and the United Arab Emirates. The company however, operates as a subsidiary of IBL Ltd as of May 18, 2018. Lux Island Resorts Limited is listed on the Stock Exchange of Mauritius.last_img read more


July 12, 2021 0

Metal Shutter Houses / Shigeru Ban Architects + Dean Maltz Arc…

first_imgArchDaily United States Photographs:  Michael MoranText description provided by the architects. The Metal Shutter Houses, designed by the internationally renowned Japanese firm Shigeru Ban Architects, are located on the south side of West 19th Street, between 10th and 11th Avenues in West Chelsea’s art gallery district, steps away from the High Line, the Hudson River, Chelsea Piers, and the Hudson River Park. The block offers a bold display of the new New York: the Frank Gehry-designed IAC Headquarters are next door and Jean Nouvel’s 100 11th is across the street. Low-profile warehouse buildings throughout the neighborhood allow for long city views, including the Empire State building, from each floor of the Metal Shutter Houses.Save this picture!© Michael MoranRecommended ProductsLouvers / ShuttersBruagShading Screens – Perforated Facade PanelsWoodBlumer LehmannFree Form Structures for Wood ProjectsMetallicsSculptformClick-on Battens in Ivanhoe ApartmentsLouvers / ShuttersRabel Aluminium SystemsElectric Folding Shading System – Rabel 14000This marks the first new construction condominium residences in the United States by Ban. Known for his “poetic” architectural style, Ban has tailored what could be characterized as contextual invention to this unique 11 story structure. Such highly sensitive ingenuity has been seen in some of his previous house designs, such as the Curtain Wall House (Tokyo, Japan), the Paper House (Yamanashi, Japan), and more recently, the Furniture House 5 (Sagaponac, New York). While Ban’s work is continually so inventive that one cannot generalize his “look,” the Metal Shutter Houses’ variable façade demonstrates Ban’s fascination with use of unusual materials (or use of common materials in new contexts) and mobility of parts, often inspired by the simplicity of traditional Japanese architecture as well as the modern lines of the International school. Save this picture!© Michael MoranThe Metal Shutter Houses is a dynamic building. The façade’s motorized perforated metal shutters serve as light-modulating privacy screen at the outer edge of each residence’s terrace adjacent to the double-height living rooms. This subtle “removable skin” echoes the neighboring gallery after-hours shutters, subtly contextualizing the building within its site. The building can literally become a uniform minimal cube, or it can open completely (as well as virtually unlimited permutations between). South of the loggia, twenty foot tall, upwardly pivoting open completely, thus blurring the boundary between the inside and outside – the double height living room and loggia become one. Similarly, a series of interior sliding glass doors create an open “universal floor” in each of the duplex houses – one vast and uninterrupted expanse which transitions seamlessly from inside to outside, or partition the space into private areas. Save this picture!PlanThe building stands approximately 120’ tall and consists of eleven stories, featuring eight duplex houses ranging from 1,950 sqf to 4,644 sqf, an art gallery and a 24-hour doorman on at the ground floor lobby. Although most of the units were sold prior to breaking ground, the recently finished penthouse has been brought to market for $12.95 million.Project gallerySee allShow lessStretched Pavilion / CentralaArticlesnonLin/Lin Pavilion / Marc FornesArticlesProject locationAddress:524 W 19th St, New York, NY 10011, USALocation to be used only as a reference. It could indicate city/country but not exact address. Share 2011 ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/153337/metal-shutter-houses-shigeru-ban-architects-dean-maltz-architect Clipboard Metal Shutter Houses / Shigeru Ban Architects + Dean Maltz Architect “COPY” Metal Shutter Houses / Shigeru Ban Architects + Dean Maltz ArchitectSave this projectSaveMetal Shutter Houses / Shigeru Ban Architects + Dean Maltz Architect CopyApartments•New York, United States Photographscenter_img Architects: Dean Maltz Architect, Shigeru Ban Architects Year Completion year of this architecture project “COPY” Year:  Apartments Save this picture!© Michael Moran+ 7 Share ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/153337/metal-shutter-houses-shigeru-ban-architects-dean-maltz-architect Clipboard CopyAbout this officeShigeru Ban ArchitectsOfficeFollowDean Maltz ArchitectOfficeFollowProductConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousingApartmentsDabasHousingNew York3D ModelingUnited StatesPublished on July 25, 2011Cite: “Metal Shutter Houses / Shigeru Ban Architects + Dean Maltz Architect” 25 Jul 2011. ArchDaily. Accessed 12 Jun 2021. ISSN 0719-8884Read commentsBrowse the CatalogPartitionsSkyfoldIntegrating Operable Walls in a SpaceGlass3MSafety Window Films in Associated Watch and Jewelry BuyersFaucetshansgroheKitchen Mixers – Talis MWindowsAir-LuxSliding Windows for High-Rise BuildingsSignage / Display SystemsGoppionDisplay Case – B-ClassGlassLAMILUXGlass Roof PR60Manuals & AdviceSikaFirestop SystemsMetal PanelsAmerican MetalcraftRainscreen – RS300Curtain WallsRabel Aluminium SystemsMinimal Curtain Wall – Rabel 35000 Slim Super ThermalWaste Containers / Recycling BinsPunto DesignLitter Bin – PapilonSound BoothsFramerySoundproof Phone Booths – Framery OneCarpetsnanimarquinaRugs – ShadeMore products »Read commentsSave想阅读文章的中文版本吗?金属卷帘住宅/ Shigeru Ban Architects&Dean Maltz Architect是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream Projectslast_img read more


June 17, 2021 0

Lotteries Council calls for Government to ‘future-proof’ society lottery limits

first_imgLotteries Council calls for Government to ‘future-proof’ society lottery limits AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis11 About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via www.thepurplepim.com. Melanie May | 17 September 2018 | News Tagged with: Fundraising Lotteries Institute of Fundraising Lotteries The Lotteries Council has called on the Government to ‘future-proof” new fundraising limits in its response to the society lotteries consultation.In its response, the Council said that new fundraising limits should be set at a level that would work for the decade ahead, instead of needing to be changed again in a few years’ time.On this basis, the Council back a new £100 million annual sales limit, a £10 million per draw sales limit and a £1 million top prize regardless of sales. The Council also backs changes to reduce the regulatory burden on small society lotteries by raising the sales thresholds for those lotteries to £40,000 per draw and £500,000 per year.In regards to the 20% rule, the Council believes that new lotteries should be allowed to aggregate their returns to good causes over a three-year period to enable them to meet the statutory 20% to good causes, taking into account the start-up costs they face.Lotteries Council Chair, Tony Vick, said:“It has been around a decade since the last changes to the law on society lotteries. In that period the society lottery sector had seen strong growth, raising hundreds of millions for good causes across the country. It is a real fundraising success story.“However the process of reviewing the law has taken a very long time, and over that period the current limits have increased the bureaucracy of fundraising this way for many of our member organisations. Change is well overdue but we need the new limits to work for the foreseeable future.”Chair of the Lotteries Council Public Affairs Committee, Malcolm Fleming, added: Advertisement “Good legislation is that which stands the test of time and we do not want to be in the position of having to ask Government to raise these limits again in a year or two. That is why The Lotteries Council urges the Minister, Tracey Crouch MP, to ‘future proof’ the limits, by setting them at a level which doesn’t just work for 2018, but which will still work over the years ahead.“The Lotteries Council believes that an annual sales limit of £100 million, a per draw sales limit of £10 million and a maximum prize of £1 million, can stand the test of time and are also not over burdensome to lottery operators, one of the key objectives the Government set out when it published its consultation.”The Institute of Fundraising also recently published its response to the consultation, having sought the views of its members. It also recommended raising the individual per draw sales limit to £10 million rather than £5 million, and the individual per draw maximum prize limit to £1m, rather than the proposed £500,000, with an increase in the per draw limit for small lotteries to £40,000. Photo by dylan nolte on Unsplash  129 total views,  1 views today  130 total views,  2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis11last_img read more


June 16, 2021 0

Who do People Trust for Information about Food?

first_imgHome Indiana Agriculture News Who do People Trust for Information about Food? By Gary Truitt – Oct 20, 2015 SHARE Previous articleEPA Under Investigation Over RFS DataNext articleIndiana Crop Moisture Levels Evening Out Gary Truitt Facebook Twitter Facebook Twitter More than 70 percent of American believes documentaries are trustworthy on food information, according to a recent survey by the Chicago Council on Global Affairs. The survey data should be welcome news for filmmakers such as Robert Kenner, who made “Food Inc.,” but disturbing for the many groups on all sides of food issues, according to the Hagstrom Report. Documentaries did fall in the middle of the pack, though, as the survey found Health professionals rank the highest at85 percent, followed by friends and family at 83 percent, farmers at 82 percent. The survey found only 50 percent of Americans find print, broadcast and online media trustworthy and only 38 percent find blogs and social media credible. The survey however, did not highlight that data, noting consumers care most about affordability and food safety when deciding what food to buy. SHARE Who do People Trust for Information about Food?last_img read more


June 14, 2021 0

Roxana Saberi ends her hunger strike

first_img IranMiddle East – North Africa Help by sharing this information News to go further June 9, 2021 Find out more Receive email alerts Call for Iranian New Year pardons for Iran’s 21 imprisoned journalists News RSF_en March 18, 2021 Find out more February 25, 2021 Find out more Organisation May 7, 2009 – Updated on January 20, 2016 Roxana Saberi ends her hunger strike News Iran: Press freedom violations recounted in real time January 2020 Reporters Without Borders is extremely relieved to learn that Roxana Saberi, the Iranian-American journalist who is in a Tehran jail on a spying charge, has ended her hunger strike. The press freedom organisation continues to call for the appeal against her conviction to be given a fair hearing and not any sham proceedings.When Saberi’s parents visited her in Tehran’s Evin prison on 4 May, she agreed to begin eating again at her father’s insistence and took two spoonfuls of yoghurt. Yesterday evening, she confirmed to her parents during a phone call that she had decided to end the hunger strike she began on 21 April.She also expressed her gratitude for the international campaign of solidarity that has been waged on her behalf.In accordance with Iranian law, Saberi’s lawyers yesterday filed a request for her release on bail before the judge of the 28th chamber of the Tehran revolutionary court.“The Iranian authorities should respect Roxana Saberi’s rights by granting her lawyers’ request and releasing her on bail pending the appeal hearing,” Reporters Without Borders said.Iranian judiciary spokesman Alireza Jamshidi announced yesterday that the appeal would be heard behind closed doors “in the course of next week” with representatives of the prosecutor’s office, the intelligence ministry and lawyers association in attendance.“This is a travesty of justice,” Reporters Without Borders said. “Leading independent figures should be present at this appeal hearing. We call for Nobel peace laureate Shirin Ebadi of the Human Rights Defenders Centre to be allowed to attend.”Timeline of Saberi case- 31 January: Roxana Saberi is arrested.- 1 March: The US public radio network NPR breaks the news of her arrest (after getting a call from her father on 10 February).- 2 March: Foreign ministry spokesman Hassan Ghashghavi says Saberi was working “illegally” in Iran.- 3 March: Judiciary spokesman Alireza Jamshidi says she has been “arrested on the order of the Tehran revolutionary court and is being held in Evin prison.”- 9 April: Saberi is charged with spying by deputy prosecutor Hassan Zare Dehnavi. This charge is often used by the Iranian authorities to arrest journalists and tighten the muzzle on freedom of expression.- 13 April: Saberi is tried in a closed-door hearing on a charge of spying for the United States.- 18 April: Saberi is sentenced to eight years in prison.- 20 April: Nobel peace laureate Shirin Ebadi announces that she will join the Saberi defence team.- 21 April: Saberi begins her hunger strike.- 25 April: Her lawyer files an appeal against her conviction.- 28 April: Reporters Without Borders begins a hunger strike in Paris.- 1 May: Saberi is hospitalised for a few hours after ceasing to take liquids.- 2 May: Shirin Ebadi voices her support for Saberi and Reporters Without Borders.- 3 May: The Reporters Without Borders hunger strike continues outside UN headquarters in New York.- 5 May: Saberi confirms that she had decided to end the hunger strike.- 5 May: Saberi’s lawyers file a request for her release on bail. Follow the news on Iran News IranMiddle East – North Africa After Hengameh Shahidi’s pardon, RSF asks Supreme Leader to free all imprisoned journalists Reporters Without Borders is extremely relieved to learn that Roxana Saberi, the Iranian-American journalist who is in a Tehran jail on a spying charge, has ended her hunger strike. The appeal will be heard behind closed doors in the course of next week. The press freedom organisation continues to call for the appeal against her conviction to be given a fair hearing and not any sham proceedings. last_img read more


June 12, 2021 0

Columbia Care Named to 2021 OTCQX Best 50

first_img Previous articleE-commerce Company SamCart Lands $10 Million in Series-A to Better Connect Direct-to-Consumer Brands with Online ShoppersNext articlePhysIQ Saw Significant Adoption of Their AI Technology in 2020 Digital AIM Web Support Pinterest Twitter TAGS  Local NewsBusiness By Digital AIM Web Support – January 28, 2021 Twitter Pinterestcenter_img Columbia Care Named to 2021 OTCQX Best 50 NEW YORK–(BUSINESS WIRE)–Jan 28, 2021– Columbia Care (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE: 3LP) (“Columbia Care” or the “Company”) is pleased to announce it has been named to the 2021 OTCQX® Best 50, a ranking of top performing companies traded on the OTCQX Best Market last year. The OTCQX Best 50 is an annual ranking of the top 50 U.S. and international companies traded on the OTCQX market. The ranking is calculated based on an equal weighting of one-year total return and average daily dollar volume growth in the previous calendar year. Companies in the 2021 OTCQX Best 50 were ranked based on their performance in 2020. “It is an honor to be named to the list of the top 50 among such reputable and impressive companies,” said Nicholas Vita, CEO, Columbia Care. “Earning this recognition, at #14, is a true testament to the success of our strategy and our commitment to providing shareholder value. We take the responsibility of being good stewards of capital very seriously and will continue to do so as we execute our growth plans. We are grateful to the OTCQX Best Market for including us.” For the complete 2021 OTCQX Best 50 ranking, visit https://www.otcmarkets.com/files/2021—OTCQX—Best—50.pdf. The OTCQX Best Market offers transparent and efficient trading of established, investor-focused U.S. and global companies. To qualify for the OTCQX market, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. About Columbia Care Inc. Columbia Care is one of the largest and most experienced cultivators, manufacturers and providers of medical and adult use cannabis products and related services with licenses in 18 US jurisdictions and the EU. Columbia Care currently operates 108 facilities[1] including 81 dispensaries and 27 cultivation and manufacturing facilities. Columbia Care is one of the original providers of medical cannabis in the United States, and continues to deliver an industry-leading, patient-centered medicinal cannabis operation that has quickly expanded into the adult use market as a premier operator. The company currently offers products spanning flower, edibles, oils, and tablets, and manufactures popular brands including Seed & Strain, Amber and Platinum Label CBD. With more than four million sales transactions since its inception in 2012, Columbia Care is known for setting the standard for compassion, professionalism, quality, care, and innovation in the rapidly expanding cannabis industry. For more information on Columbia Care, please visit www.col-care.com. ———————————————————————————————————————— [1] Pro forma facilities either open or under development Caution Concerning Forward-Looking Statements This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws and reflect the Company’s current expectations regarding future events. The Company has made assumptions with regard to the expansion of adult use sales in Arizona, which although considered reasonable by the Company at the time of preparation, may prove to be incorrect, as well as other risk factors discussed under “Risk Factors” in Columbia Care’s Annual Information Form dated March 31, 2020, filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com and described from time to time in documents filed by the Company with Canadian securities regulatory authorities. View source version on businesswire.com:https://www.businesswire.com/news/home/20210128005331/en/ CONTACT: Investors Lee Ann Evans VP, Investor Relations +1.212.271.0915 [email protected] Media Lindsay Wilson VP, Communications +1.978.662.2038 [email protected] Gabriella Velez 5WPR [email protected] KEYWORD: NEW YORK UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY SOURCE: Columbia Care Inc. Copyright Business Wire 2021. PUB: 01/28/2021 08:02 AM/DISC: 01/28/2021 08:02 AM http://www.businesswire.com/news/home/20210128005331/en WhatsApp Facebook WhatsApp Facebooklast_img read more


June 2, 2021 0

Judge Seeks More on GSE Profit Sweep

first_img The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Home / Daily Dose / Judge Seeks More on GSE Profit Sweep Demand Propels Home Prices Upward 2 days ago About Author: Brian Honea  Print This Post Previous: Plywood vs. Clearboard: What is the Solution? Next: DS News Webcast: Tuesday 5/31/2016 Servicers Navigate the Post-Pandemic World 2 days ago Share Save Tagged with: GSE Profit Sweep Lawsuits Net Worth Sweep May 30, 2016 3,196 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago GSE Profit Sweep Lawsuits Net Worth Sweep 2016-05-30 Brian Honeacenter_img Related Articles in Daily Dose, Featured, Government, News The Best Markets For Residential Property Investors 2 days ago Judge Seeks More on GSE Profit Sweep Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Depositions unsealed last month showed that key officials at the GSEs may have known they were about to be profitable in 2012. Now the judge wants to see more.A federal judge ordered the unsealing of seven previously sealed depositions related to the sweeping of GSE profits into Treasury (the Net Worth Sweep) with results that sparked an industry-wide discussion over whether the government knew that the GSEs were about to become profitable in 2012 at the time the Net Worth Sweep was enacted.Now Judge Margaret Sweeney in the U.S. Court of Federal Claims, who is presiding over Fairholme Funds’ lawsuit against the government over the Net Worth Sweep, has stated that she wants to review all the documents that the government has kept private to this point regarding any litigation over the government’s conservatorship of Fannie Mae and Freddie Mac, according to a blog post from Investors Unite is a coalition of private investors committed to the preservation of shareholder rights for all invested in the GSEs.Fairholme Funds, a Florida-based mutual fund that is one of the biggest GSE investors, sued the government in 2013 over the profit sweep, and the suit is still pending. Fairholme’s suit is one of approximately two dozen lawsuits filed against the government by shareholders of Fannie Mae and Freddie Mac over the Net Worth Sweep.“Judge Sweeney made clear in unsealing seven documents last month that sparing public servants from embarrassment is not a reason to hide the operations of government from the public,” the blog post on Investors United reads. “Indeed, these recent revelations go to more serious issues at the heart of litigation over the Sweep—the rule of law and transparency in government.”The question of whether or not the government was invoking executive privilege by keeping documents related to the Net Worth Sweep sealed was first brought up by U.S. Sen. Chuck Grassley (R-Iowa) in April 2015. The topic was recently revisited in a white paper by law professorSaikrishna Bangalore Prakash.“Indeed, these recent revelations go to more serious issues at the heart of litigation over the Sweep—the rule of law and transparency in government.”Investors UniteAccording to Investors Unite, the documents released in the last two weeks contain even more hints that government officials knew about the pending profitability of the GSEs when the bailout agreement was amended in August 2012. The blog post cites Jim Parrott, who in 2012 was a senior adviser in the White House on housing policy, sending an email to senior officials at Treasury the day the Net Worth Sweep was announced stating that diverting Fannie’s and Freddie’s profits would eliminate “the possibility that they ever go (pretend) private again.”Lawyers for the government have claimed that the GSEs were in the midst of a “death spiral” in the years immediately following their combined $187.5 bailout in 2008, and that the Net Worth Sweep was enacted in order to protect taxpayers. Investors Unite notes, however, that the newly unsealed documents point out that in 2012 just before the Net Worth Sweep began, Fannie Mae executives characterized the next eight years as the “the golden years of GSE profitability.”Indeed, 2012 was the first year of profitability for the GSEs after the bailout and they have remained profitable since (though Freddie Mac has taken a loss in two of the last three quarters). Under the pre-August 2012 terms of the bailout agreement, the GSEs were required to pay only a 10 percent dividend on their draw from Treasury.The documents that Sweeney has ordered unsealed in the last two weeks can be viewed by clicking here. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribelast_img read more


May 31, 2021 0