Lt. Gov. Brian Dubie and Treasurer Jeb Spaulding Announce “Green Valley” Funding Initiative

first_imgLt. Governor Brian Dubie and State Treasurer Jeb Spauldingjointly announced a plan to invest $48 million in state employeepension funds in Vermont’s “Green Valley” – an economic development sectorcomprised of businesses dealing in environmental technologies, goods andservices.”It’s all about jobs and economic growth for our state in a dynamic newdirection,” Dubie said, “and it’s about devoting Vermont’s youthful energyand some of our resources towards making Earth a cleaner and healthier placefor everyone.”Spaulding noted that as State Treasurer, he is the custodian of Vermontstate employees’ pension funds. “Ever since I was elected,” he said, “I havelooked for ‘triple bottom line’ investment opportunities for our funds: onesthat are good for people and society, good for our environment and produce agood return on investment. Our investment board has made clear its desire touse 2% of our funds this way. When Lt. Governor Dubie proposed investing inVermont’s Green Valley companies, I was immediately excited.”Dubie, Spaulding and Economic Development Commissioner Mike Quinn have beenworking on a mechanism to distribute the funds, such as Vermont’s EconomicDevelopment Authority (VEDA). The final structure of that mechanism has yetto be determined.Dubie and Spaulding made the announcement at a forum on renewable energysponsored by the Vermont Environmental Consortium and Norwich University.”We have innovative people and companies right in our state developing cleantechnologies with the potential to provide these pension funds withpositive, long-term returns, and that can create jobs and economic growth inVermont for years to come,” Dubie said.”Everywhere on earth, from Shanghai to Montreal,” he continued, “demographictrends, public awareness, environmental crises and increased regulation aredriving the growth in the clean technology industry. I commend Treasurer JebSpaulding and look forward to working with him to harness that growth energyfor Vermonters.”last_img read more

The Best No-It’s-Not-A-Woman-Singing Version of Luther Vandross’ ‘Dance With My Father’ Ever (Video)

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York When you play this, like when I played it at the office, let people hear it without saying anything about it. Then, after a little while, say, “Not bad for a 10 year old boy,” like I did to Scott. After all, reactions to random internet videos are part of the fun!In this case, this young, unknown not-girl in this unknown place sings the hell out of this song. (For those who are not familiar, “Dance With My Father” is an extraordinarily touching song, one of the last big hits for the late, iconic soul singer Luther Vandross. Who also was not a girl.)Anyway, it’s just a nice thing. Enjoy.last_img read more

Indonesian firms prefer to seek funding from debt market: Bloomberg

first_img“We see more Indonesian companies turning to the bond markets to raise capital partly due to the liquidity tightness among Indonesian local banks compared to their regional peers,” Bloomberg Asia Pacific head of global data Vatsan Sudersan said on a statement on Monday.The loan-to-deposit ratio (LDR) of the five biggest Indonesian banks by assets has increased from about 90 percent on average in early 2017 to 97 percent at the end of 2019. This compares with 92 percent for five comparable banks in Malaysia and 88 percent for the three biggest banks in Singapore.Sudersan said he expected the next few months to continue to be challenging for Indonesian companies as they grappled with the economic impacts of the COVID-19 pandemic.Aside from seeking funds in the debt market, some Indonesian companies have still chosen to seek funding from the equity market through initial public offerings (IPO) on the Indonesia Stock Exchange (IDX). Indonesian companies have preferred to raise capital from the debt market in the first four months of this year as banks experience tight liquidity, according to Bloomberg data.Funding from bonds and syndicated loans constituted 98.1 percent of the total capital raised by Indonesian companies from January to April this year, totaling US$18.9 billion, Bloomberg noted.The volume of bonds listed overseas also doubled to $15.3 billion in the first four months from $7.2 billion in the same period last year, with Singapore being the preferred choice of listing. The bourse saw 26 IPOs launched in the January to April period, the most among exchanges in Southeast Asia, compared to six in Singapore and eight in Malaysia.However, despite the large number of IPOs, the equity capital market was relatively small in terms of value raised.The average size of each market offering, including IPOs and additional offerings, was around $10 million, 74 percent lower than the average offering size of $36 million in the same period last year.As a result, the total fundraising amount through the equity capital market slowed by half to $272 million as of April, compared to $550 million during the same period last year.The small offering size is a continuation of the trend over the previous years as the IDX only saw six offerings in the last five years that raised approximately $1.1 billion. “At this rate, this will result in the lowest amount of equity capital raised since 2009,” Bloomberg wrote in the statement.Topics :last_img read more

Luka Modric signs Real Madrid deal until 2018

first_imgReal Madrid midfielder Luka Modric has signed a new four-year contract with the Champions League winners.The deal will keep the Croatian international, 28, at the Bernabeu until 2018.The former Tottenham Hotspur player joined Real Madrid from White Hart Lane in August 2012 for about £30m.Modric has made 67 appearances for the La Liga side and started Tuesday’s Spanish Super Cup first leg against Atletico Madrid at the Bernabeu.last_img