Columnist fell into liberal trap on ACA

first_imgCategories: Letters to the Editor, Opinion  E.J. Dionne on the Dec. 4 Gazette editorial page, in making a point, said the following: “But when Congress did truly big things in the past — the Affordable Care Act, the major tax cuts of the Ronald Reagan and George W. Bush eras, the tax increases under Bill Clinton and Barack Obama — there was serious discussion over an extended time.”Serious discussion over an extended time in reference to the Affordable Care Act? Are you really serious?  How does one, with a straight face, claim this? Does “We need to pass it in order to know what’s in it” by Nancy Pelosi ring any bells? This was possibly the most financially affected bill to the public of the 21st century, yet it was passed not only without serious discussion, but with no discussion.E.J. Dionne is, deservedly, a well known and respected columnist. Yet even he apparently has been affected by the liberal disease of “Let not the truth be told, for liberalism trumps all,” especially when it trumps Trump, in spite of the truth and facts. Arthur C. SalvatoreSaratogaMore from The Daily Gazette:EDITORIAL: Urgent: Today is the last day to complete the censusFoss: Should main downtown branch of the Schenectady County Public Library reopen?EDITORIAL: Thruway tax unfair to working motoristsEDITORIAL: Beware of voter intimidationSchenectady, Saratoga casinos say reopening has gone well; revenue down 30%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

Dutch pension fund BpfBouw to expand into local real estate

first_imgBpfBouw, the €40bn pension fund for the Dutch building industry, is planning to increase its investments in Dutch real estate to €6.6bn, having already allocated €500m for new developments. It is also considering investing in property in the care sector, according to its 2013 annual report.Last year, nearly 20% of BpfBouw’s entire portfolio was invested in the Netherlands, and more than half of that was in property.The pension fund expected the extension of its local property holdings would generate stable returns of 3.5%. The scheme said it largely continued to stick with its investment mix of 15.3% real estate, 33.3% equity and 40.5% fixed income.However, the board has decided to set the allocation to private equity, commodities and hedge funds – last year 2.6%, 4.1% and 3.7%, respectively – at 4% each.To reduce its equity risk, it also increased its allocation to low-volatility equity in developed markets from 10% to 25%.BpfBouw started investing in sustainable energy and responsible nature and forestry conservation through ‘green bonds’.The building scheme reported a return on investments of 4.8%.However, this result was halved, following a 3.8% loss on the 66% interest hedge on its liabilities due to rising interest rates, it said.Developed market equity, with a return of 20.4%, was BpfBouw’s best performing investment.By contrast, the scheme incurred a 6.5% loss on emerging market equities.It also lost 1% on its fixed income portfolio, with government bonds, credit and inflation-linked bonds delivering 0.1%, -1.6% and -4.1%, respectively.The scheme’s combined property holdings returned 1.6%, but its stake in global real estate produced 7%, it said.BpfBouw attributed the 16.6% private equity return to the maturing of the portfolio.However, the return on hedge funds did not exceed 0.1%, with Funded Asset Management generating a 3.3% loss.As a consequence, the scheme’s board decided to divest its FAA portfolio gradually.The pension fund said it spent €107 per participant on administration costs last year, adding that asset management and transactions cost 58 and 14 basis points of its asset under management, respectively.BpfBouw has almost 806,000 participants in total, affiliated with 11,620 employers.last_img read more

NBA Recap, 19/10/2018 – LeBron’s debut does not disappoint

first_imgAdvertisementDay 3 of the new NBA season just concluded, and let us take a look at the results of the three games which were on show.The headline game of the day was in Portland, as the new-look Los Angeles Lakers faced off against the Trail Blazers. LeBron James’ new journey got going with a loss, as the Blazers prevailed 128-119.James had 26 points, 12 rebounds, and 6 assists, but the Portland guards stole the show. Damian Lillard had 28 points, and C.J. McCollum has 21. Nick Stauskas provided a boost with his 24 off the bench.LeBron James THROWS IT DOWN for the @Lakers! 👑🔥🏀: #LakeShow x #RipCity 📺: @NBAonTNT— NBA (@NBA) October 19, 2018 The Philadelphia 76ers bounced back from their opening night loss against the Celtics, as they beat the Chicago Bulls 127-108. Joel Embiid was the top scorer on the night, and he had 30 points and 12 rebounds. Ben Simmons had a Jason Kidd triple-double, with 13 points, 11 assists and 13 rebounds.Embiid – Simmons high low action!@chicagobulls x @sixers – #KiaTipOff18 📺: @NBAonTNT— NBA (@NBA) October 19, 2018 Zach LaVine also had 30 points for the Bulls, but his efforts were in vain as the Bulls lost their opening game of the season.The third game of the night was a close one, as the Miami Heat defeated the Washington Wizards 113-112 courtesy of a last-second putback by Kelly Olynyk. Josh Richardson’s 28 points led the Heat to their first win of the season..@KellyOlynyk WINS IT! 😳#HEATCulture— NBA TV (@NBATV) October 19, 2018Guards John Wall and Bradley Beal cntributed to 46 points between them, but the Wizards slipped to a late loss in their season opener.Advertisementlast_img read more