“On the verge of a tragedy:” The stark numbers of a pandemic-hit NYC

first_img(Getty)About 24,000 New Yorkers have lost their lives to the coronavirus.The city’s unemployment rate is 16 percent — twice the national average. And just 10 percent of Manhattan workers have returned to the office, putting into question the value of the city’s prime office stock.Personal income tax revenue is projected to drop by $2 billion this fiscal year.Only a third of hotel rooms are occupied, and Manhattan apartment vacancies crept over 5 percent in August for the first time in at least 14 years.Those are the figures that best tell the impact of the coronavirus outbreak on New York City, which is facing structural challenges not since the fiscal crisis of the 1970s, according to the New York Times.One stark example: Shares of Empire State Realty Trust, the REIT that owns the Empire State Building, have fallen by 50 percent this year.ADVERTISEMENT“We’re on the verge of a tragedy,” Richard Ravitch, the former state official who helped New York City with its financial recovery in the 1970s, told the Times.Sales tax revenue fell 35 percent in the second quarter and 15 percent so far this year, according to the Times. Income tax revenue is also expected to drop for the next few months.The third pillar of the city’s revenue — property taxes — is the most stable, though property tax delinquencies have already risen and landlords are gearing up to challenge their assessments.Ravitch is calling for sweeping budget cuts and the establishment of a financial control board. The city, facing a $9 billion revenue shortfall, has explored the option of deficit spending, and reportedly wants the state to authorize up to $5 billion in borrowing.But the Times notes that deficit spending may not cure the city’s ills — meanwhile, it cannot count on the state for support, as the state is facing its own $14.5 billion revenue shortfall. And federal help has been hard to come by.“It’s clear there are going to be hits for years to come, you can’t deny that,” Bill Neidhardt, the press secretary for Mayor Bill de Blasio, told the Times. “We’ve been calling for a stimulus, and Washington has done what they do, which is nothing.” [NYT] —Hiten Samtani This content is for subscribers only.Subscribe Nowlast_img read more

BW Leo delivered to BW LPG

first_imgBW LPG said that it has taken delivery of BW Leo, the fourth Very Large Gas Carrier in its newbuilding programme of eight VLGCs from HHI. In addition, BW LPG has recently acquired a four VLGC newbuilding programme from DSME, the company informed in a statement.The BW Leo is financed by a combination of free cash and the USD 400 million loan facility from KEXIM, DNB and SEB, as lending banks. The BW Leo joins the fleet held available to serve voyage charter opportunities and meet CoA commitments.Including the BW Leo, the company now owns and operates a fleet of 38 vessels, comprising 24 owned VLGCs, nine chartered-in VLGCs and five owned LGCs.[mappress mapid=”16958″]Image: BW LPGlast_img

Prime Minister Directs Health Ministry to be ‘more aggressive’ on COVID-19 Education

first_img Tweet Sharing is caring! Share 36 Views   no discussions Sharecenter_img The Ministry of Health has been directed to be ‘more aggressive’ with public education exercises. This is in part due to concerns of the Government of Dominica with regard to mass gatherings.According to the government, mass gatherings have consisted of persons who continue to disregard the guidelines and protocols that have been articulated by the Ministry of Health.The Hon. Prime Minister Roosevelt Skerrit expressed the governments concerns earlier this week.“It is a concern to us and I have certainly directed the Ministry of Health and the Health Promotion Unit to be more aggressive with the public education and public information exercise,” he said, speaking at a press briefing at the Financial Center.Hon Prime Minister of Dominica, Roosevelt SkerritHe added, “I think we have gone cold on this, and we should not only be on the radio with this, we should be out in the communities, at the bars, on the bus stop, on the bus stand.”He put forth that people need to remember that unless the WHO declares that COVID-19 has been contained globally the country is not ‘out of the woods.’“The fact is unfortunately we will see COVID-19 present in the world for the foreseeable future. So, if you think that we are done with COVID-19 for 2020, I think it is going to continue,” he remarked.He made comparison to one country, which he said he received information from, who reported seventy positive cases in a matter of three days. He went on to note that no one knows the true extent of community spread.He continued by saying, “countries that were on complete lock-down and shut down are now reporting community spread in parts of the country; where police stations have been closed and public facilities have been closed you know because it is widespread.” CoronavirusFeaturedLocalNews Prime Minister Directs Health Ministry to be ‘more aggressive’ on COVID-19 Education by: – August 12, 2020 Sharelast_img read more

AK School Board Launches Survey on Improving Special Education

first_imgReinhardt: “This is, across the board, what do you want for your schools?” Another hurdle is teaching positions; Reinhardt said Alaska’s rural areas fight to keep teachers in general for more than one or two years. Reinhardt: “So what do we do to keep our best and our brightest, our most talented students? How do we make them catch on fire and give them the tools they need to become effective teachers in their communities.” FacebookTwitterEmailPrintFriendly分享The Alaska State Board of Education has launched a survey to hear from parents on how to improve education for students with special needs. Reinhardt said when modernizing special education programs, technology use is key. Program Coordinator Christie Reinhardt with the Governor’s Council on Disabilities & Special Education said it’s important for those involved in public schools’ special education programs to weigh in. Reinhardt: “A lot of kids that have autism, fetal alcohol spectrum disorder, ADHD, specific learning disabilities, communication disorders, need kind of out of the box thinking.” The survey focuses on three main points that are protecting local control, the use of technology in the classroom, and what can be done to improve teacher quality, recruitment, and retention. Click here to access the State Board of Education survey.last_img read more