YSR Kapari Bandhu Scheme: As part of Andhra Pradesh Chief Minister YS Jagan Mohan Reddy’s promises before the elections, he has been churning out different welfare schemes for different communities and people in the state. After launching schemes like Amma Vodi scheme, Jagananna Vidya Deevena scheme successfully now he launches yet another scheme YSR Kapari Bandhu scheme and with the help of this, he is going to target the shepherd community for their betterment.
With this new YSR Kapari Bandhu, the people who are from Golla and Kuruma communities which are commonly known as shepherd communities will get financial aid from the government to strengthen their economic empowerment. The scheme is implemented by keeping in mind the poor shepherd communities which are living in the state. Through the implementation of the scheme, the subsidy will be provided on the sale and purchase of animals.
The implementation of the scheme will be done very soon by the concerned authorities. The scheme is introduced by the National Co-operative Development Corporation to benefit all the shepherds. All of the shepherds of the state will be given financial assistance to buy 20 sheep and one goat. The scheme is implemented to benefit 50,000 beneficiaries. Each year around 12,500 beneficiaries will be given financial assistance. Rs 200 crore has been allocated for the project.
Understand the benefits of YSR Kapari Bandhu:
One of the main benefits which will be provided to all of the shepherds’ community of Andhra Pradesh state will be the availability of subsidy on sale and purchase of animals like sheep or goat.
The subsidy will amount to 30% of the loan or Rs. 1.5 lakhs, whichever is less.
This availability of subsidy will help all of the shepherds to continue with their business even when they have low financial ability.
This scheme will help all of the people of the Andhra Pradesh state to continue their businesses and flourish the state.
The scheme will be very beneficial for the people who are carrying on the business of selling and purchasing an animal.
Who are eligible for YSR Kapari Bandhu scheme? Find out the details of eligibility:
The applicant must be a resident of Andhra Pradesh state.
The applicant must belong to below the poverty line category.
An Applicant must have a working bank account
The registered members of the Golla and Kuruma communities are only applicable to the scheme.
How to avail the YSR Kapari Bandhu? Check out the list of documents needed:
Voter ID card
Working bank account details
According to sources close to CMO, the YSR Kapari Bandhu scheme second phase will be kicked off by the CM by end of this month and another set of beneficiaries will be given the fund.


The Family Business Association of California (FBA) represents family businesses at the legislature and in the courts to help overcome regulatory and economic obstacles and ensure they maintain freedom to operate with as little government intervention as possible.
We are a proactive voice for family businesses in California and identify opportunities for and threats against family businesses, thereby providing a voice for solving the problems they face.
We are active in the California Assembly and Senate on a daily basis, where we support or oppose legislation based on the effect it would have on family businesses. The following are just a few of the many legislative goals we have mapped out for action.
Change of Ownership – The most important aspect of a family business is that it passes from generation to generation. Family business owners dream of the day when they can pass on what they’ve built on to their heirs. But that change in ownership could, depending on the circumstances and size of the business, trigger government reassessments and lead to increased tax burdens for family businesses.
AB 1040 was introduced during the 2015-2016 session of the Legislature. Had this bill passed, it would have broadened the definition of a “single transaction” transfer, potentially resulting in more family businesses being hit with real estate reassessments and a higher tax burden due to a transfer of ownership. Through the efforts of our organization and our many allies, AB 1040 was defeated, preserving the ability for family businesses to pass ownership on to their heirs without being subjected to undue hardship.
Fighting Unnecessary Regulations – SB 878, also known as the Fair Scheduling Act , would have required grocers, retailers and restaurants to adopt convoluted guidelines in order to change the schedules of hourly workers. Failure to follow these guidelines would have enabled any affected employee to sue, in addition to requiring businesses to compensate employees for shifts not worked or pay them a higher rate for new shifts. This would have been problematic for a number of reasons:
- The bill would have reduced the freedom business owners and management have over their own operations
- It could have potentially invited legal battles that many family businesses would struggle to finance or settle
- Complex regulatory changes that affect routine operations often put an unfair burden on family businesses, especially if they have limited resources to handle those required changes
FBA and our business partners defeated SB 878, ensuring these damaging restrictions won’t be forced on unsuspecting family business owners.
FBA also was involved in killing a split-roll real estate tax effort that would have cost California businesses $9 billion per year and tax reform that would have placed a sales tax on services. FBA won on two legislative efforts to help reduce meritless ADA lawsuits, reforms to employee tracking requirements, and formation of a group to find solutions to cargo theft. Although it was a tough year overall, without the voice of California’s family owned businesses at the Capitol, it would have been worse.
Please contact FBA to learn more about becoming a member of our Association


More banks and credit unions than ever are working with cannabis-related businesses, according to a recent federal watchdog report.
The Financial Crimes Enforcement Network (FinCEN) oversees all banking activity in the country looking for suspicious activity. And cannabis presents a problem for FinCEN — it is legal in some states but remains federally illegal, meaning banks could be accused of facilitating money laundering just for working with a state-licensed cannabis business. The risk, however, hasn’t stopped more financial institutions from opening their doors to cannabis.
At the end of June, there were 553 banks and 162 credit unions that reported to the federal government that they were providing services for cannabis-related businesses, according to the FinCEN quarterly report. FinCEN knows these banks are working with cannabis-related businesses because the banks and credit unions are telling them. To be able to work with cannabis-related businesses with the least amount of fear of penalty, banks and credit unions file suspicious activity reports (SARs) when they encounter certain kinds of activity, and that includes all cannabis business transactions.
Here’s a breakdown of what the report said:
- FinCEN received a total of 87,249 SARs using the key phrases associated with cannabis-related businesses,” according to the FinCEN report.
- About 78% were from state-licensed cannabis businesses.
- About 8% were targeted for further investigation.
- About 25% had their accounts terminated.
Some SARs had multiple FinCEN key phrases, which is why it totals more than 100%. That termination amount is high, but that’s still a majority of businesses that are allowed to receive banking services.
That may soon change. The House of Representatives recently passed the Secure and Fair Enforcement (SAFE) Banking Act to protect banks that provide services to cannabis-related businesses. This would clarify rules for regulators and make it much easier for more financial institutions to welcome cannabis business customers. U.S. Treasury Secretary Steve Mnuchin told Congress in April that the confusion for financial institutions wasn’t the fault of regulators, because they could only uphold existing regulation that did not clearly allow for cannabis-related business activity.
Regulators have been working off of the Cole Memo, which leaves many questions unanswered and not formally written into the rules. The Cole Memo was issued by U.S. Deputy Attorney General James Cole in 2013 and outlined to the U.S. Justice Department that it would not enforce cannabis prohibition. U.S. Attorney General Jeff Sessions later rescinded that memo, but not much has changed in practice. Even credit unions won’t be sanctioned for working with cannabis businesses anymore.
While more banks and credit unions are working with cannabis-related businesses than ever before, it is still not a majority and it is difficult for million-dollar businesses to get financial services. This has lead to large companies running on a cash-only basis and problems for the IRS when they try to collect taxes. Having large amounts of cash is a security risk and impacts the economy, which is part of why 38 attorneys general have endorsed the SAFE Banking Act.


U.S. stocks tumble for a fourth day this week, retreating after the prior session's rally, with retail sales declining a record amount in October, J.C. Penney Co. offering an outlook miss and Nokia Inc. warning of falling handset sales. See full story.
Economic Report: Retail sales plunge record 2.8% in October
Falling for a fourth straight month, U.S. retail sales plunge a record 2.8% in October as sales of autos and gasoline plummet. See full story.
The Fed: Bernanke, in Europe, says central banks remain on point
Central banks around the world stand ready to take additional actions as needed to restore financial market stability and ease the global credit crunch, Federal Reserve Board Chairman Ben Bernanke tells a European audience. See full story.
It's official but not unexpected: Euro zone's in recession
A global economic slowdown, financial turmoil and home-grown problems combine to push the 15-nation euro zone into recession, data show. See full story.
Nokia warns mobile-device industry sales will fall in 2009
Nokia, the world’s top maker of mobile phones, warns industry sales of wireless handsets will fall next year as consumers pull back in the face of the economic slump and limited credit availability. See full story.
Stocks over the past dozen years are behind T-bills
It was almost exactly a dozen years ago that Yale University finance professor Robert Shiller bent Alan Greenspan’s ear, prompting the Fed chairman to give his famous “irrational exuberance” speech. See full story.
With economy unraveling, secondhand stores are suddenly chic
Christina Park keeps this a big secret from her husband but is not ashamed to tell all her friends: She shops at a secondhand store for clothing every day. See full story.
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BankAmerica has increased its commitments to two mortgage products aimed at low-income borrowers, a step toward meeting its $350 billion Community Reinvestment Act pledge.
One product allows borrowers to buy a home with no money down. The other accepts borrowers who do not have credit scores but can prove their creditworthiness through nontraditional means.
The bank raised its commitments from $500 million and $600 million, respectively, to $1 billion for each product.
Last year, a month after the old BankAmerica Corp. and NationsBank Corp. announced their merger plans, they unveiled a $350 billion CRA pledge, the largest such commitment ever. Community groups complained that the banks' plan did not specify how much particular communities would get.
The bank has not specified volume goals for specific cities or neighborhoods. For the mortgage to borrowers lacking credit scores, however, BankAmerica has lowered to $500 the amount those in Arizona, New Mexico, Nevada, and Los Angeles County must contribute to the 3% down payment.
The rest of the down payment can come from a gift, a grant, or another loan. In all other states where this "credit flex" loan is offered, the borrower's minimum contribution is 1% of the loan balance.
The two affordable-housing programs were developed by the old BankAmerica, said Stephanie Smith, national manager of community lending at the merged company, as she was at BankAmerica. The bank is now making those loans available in the old NationsBank's markets, she said.
NationsBank's affordable-lending products were Fannie Mae and Freddie Mac loans that "weren't letting us reach deep enough with our lower-income borrowers," Ms. Smith said. "These two products allow us to make more loans to low-income families and people of color in low-income neighborhoods."
For now, BankAmerica intends to hold all the loans it originates under these programs in its portfolio, though Ms. Smith said the bank expects a secondary market to develop.
Community groups applauded the mortgage initiative, but said they still want the bank to set geographic targets.
"We think it's positive that financial institutions that care about CRA are trying to regain the market from unregulated finance companies and mortgage companies," said Alan Fisher, executive director of the California Reinvestment Committee.
But "we are still concerned that the bank has not made a specific commitment to California," he said.
Activists like Mr. Fisher are also concerned about the dominance of NationsBank management in the new company, and the departure of two key community-development officials from the old BankAmerica, Donald Mullane and Mike Mantle. He said his group wanted the bank to outline its precise goals for California so it "can be held to the same standards."
But Bruce Marks, executive director of the Neighborhood Assistance Corp. of America in Boston, praised Hugh McColl, former CEO of NationsBank and now CEO of BankAmerica, as "the one banker who's absolutely committed to these programs and has gone out and provided leadership to defend CRA and to advocate for low-income lending."


Russell Grant's Daily Horoscopes for Thursday 28th January 2016: Aquarius
A business or romantic partner will experience a stroke of financial luck. You'll benefit from this windfall. Having a little more money in the bank will allow you to travel. Take this opportunity to book a long distance trip you've been longing to take. You'll greatly benefit from a change of scenery. You can go with your partner or enjoy a solo trip; it's up to you. The important thing is to leave familiar surroundings for greener pastures. This journey will be fun and instructive.
Ten reasons why we want to be on TOWIE!


Johannesburg Water has responded to an enquiry from the Rosebank Killarney Gazette regarding the ongoing issue of pipe bursts in the paper’s coverage area. The external communications officer at Johannesburg Water, Nolwazi Dhlamini, was asked how to prevent such incidents.
Dhlamini stated that Johannesburg Water has a pipe replacement program to address the ongoing water pipe bursts across the city to reduce burst frequencies and minimise water losses. “The entity has a pipe replacement programme that aims to reduce burst frequencies and minimize water losses.”
She also noted that for the current financial year (July 1, 2022, to June 30, 2023), Johannesburg Water allocated R69 622 million for the pipe replacement programme, and for the next financial year (July 1, 2023, to June 30, 2024), they budgeted R105 million for water pipe replacement.
Johannesburg Water has already replaced 452km of piping (water and sewer) since the commencement of the pipe replacement programme. Furthermore, the entity plans to replace another 31km of water piping in the next financial year.


If in case you have recently purchased residential property, you might find that there are a lot of changes you need to make to your new dwelling. Even new development houses may use some personalization to make it really your individual. Natural mild is another great addition to a kitchen. Plan ahead along with your mild fixture and you’ll have the correct quantity of sunshine – day or night time. Consider the spherical tubing skylights additionally – they’re simple and relatively inexpensive and but they deliver a beam of sunshine right where you planned it. Wonderful for shady settings. Hilarious! I really like your humorousness. The Beer Can Show kind of jogs my memory of a country model of recent pop art. Form of Jeff Foxworthy meets Andy Warhol.
A technique you can cleverly deduct your home improvement funds is to roll it into your mortgage whenever you purchase a home. This may not look like essentially the most genius plan; you’re still paying for the price of repairs, in spite of everything, and getting a much bigger mortgage to cover these repairs means you may be paying more in curiosity. But keep in mind that should you itemize your deductions , you may write off the price of your mortgage curiosity cost. Add the price of improvements to your mortgage, and that write-off can increase.
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Detroit voters have taken a major step toward returning the city’s main school district to what it once was. By renewing the school operating tax, the district continues to retire debt on a pace set in 2016 as part of the state-imposed reforms.
With Tuesday’s vote behind them, state and local leaders must now turn their attention to other elements necessary for the district’s success: such as finding a long-term strategy to improve buildings and facilities; making strides in early childhood literacy; and developing an equitable funding system that addresses the disparate educational, social-emotional, and developmental needs of many Detroit school children.
On Tuesday, August 4, voters in the Detroit Public Schools (DPS) district approved a renewal of a school operating tax that is being used to pay off the district’s legacy debts. The approval maintains the financial framework created in 2016 as part of the $617 million state-supported plan to liquidate the district’s operating debts and shift educational responsibilities to the newly-created Detroit Public Schools Community District (DPSCD).
Four years ago, after decades of failed educational, governance and financial reforms, DPS stood on the precipice of bankruptcy with only the State of Michigan positioned to step in and right the course. At the end of the 2015-16 school year, the district had over $3.5 billion in combined operating and capital debts. The amount of operating debt on its books at the time ($1.8 billion) represented a near-existential threat to the 48,000-student district’s ability to continue to educate Detroit children.
In early summer 2016, the state enacted a suite of bills to restructure DPS. Most notably, the package included ending years of state control and emergency management by returning the district to local control, creating an accountability system for all Detroit schools (traditional public and charter), placing the district under oversight of the Detroit Financial Review Commission, and splitting the district into two separate entities – one to educate students (DPSCD) and another to continue collecting taxes (both operating and capital) that would be used to pay off debt (DPS).
A key piece of the financial reforms involved the state’s commitment of $617 million and a plan to re-purpose the existing school operating property tax. The proceeds from the 18-mill non homestead tax (levied only on industrial, commercial, rental, and vacation properties) were redirected to debt repayment instead of using the funds to finance the district’s per-pupil foundation allowance. The tax currently generates approximately $65 million annually and the estimates at the time were that the district’s operating debts would be paid off in approximately 10 years.
To avoid impacting the funding flow to current school operations, the state replaced, dollar for dollar, the repurposed operating tax proceeds. This means that during the period of debt repayment, DPSCD’s foundation allowance will be financed 100 percent by the state School Aid Fund. After DPS legacy debts are fully repaid, the proceeds from the tax will revert to supporting DPSCD’s foundation allowance and the additional SAF support will be eliminated.
This is the same fiscal arrangement the state used to allow two other districts to pay off their operating debts with state dollars – Inkster and Buena Vista. After a law was passed to give state officials the authority to dissolve specific districts for financial reasons, Inkster and Buena Vista were dissolved in the spring of 2013 because of chronic financial stress. After their dissolution, the entities remained in name only; their sole function was to collect taxes and repay debts. They were no longer responsible for educating students living within their boundaries. Instead, the new law shifted this responsibility to neighboring districts.
The 18-mill non-homestead property tax levy requires voter approval because it is a local tax and that approval is only granted for a limited number of years. The current DPS millage was set to expire at the end of 2022 – before the legacy debts were repaid. Thus, the state’s plan to pay of the debts, premised on local voters re-authorizing the school operating tax before that expiration, was complicated by the requirement to obtain voter approval for a tax that does not directly fund classrooms.
On Tuesday, voters did just that by approving the tax levy through 2033 or until DPS’s debts are repaid, whichever is sooner.
The vote clear’s one hurdle facing the district. It permits the 2016 state-imposed financial plan for Detroit schools to continue on pace and uninterrupted. It is one step in a much larger effort to return the city’s main public school district to earlier periods of success.


What is EXCHAIN?
E2E Ad Spend Transparency and Verification. The EXCHAIN platform provides full coverage of ad spend transparency and ad impression through every stage of the ad chain. Using secured decentralised storage, EXCHAIN stores all smart contracts and event logs for easy ad spend audit. EXCHAIN verifies each of the rendered impressions based on the rules the advertisers set in the smart contract and records the spend for that particular impression. The reporting system enables immutable proof of spend and impression evidence and provenance for transparent advertising.
Fraud Inventory Detection and Elimination. The EXCHAIN platform addresses the fraud issue using an ad spend cash flow approach. Instead of attempting to use big data to sample and determine fraudulent sources on a probabilistic basis, EXCHAIN uses a decentralised ad spend distribution mechanism to prevent revenue from being taken by fraudsters out of the ad value chain by fraudsters. Fraudulent operators, such as those involved in domain spoofing, will not have access to a revenue receive gateway and the
EXCHAIN platform will provide a deterministic way to reveal such fraud and remove it completely.
Real-Time Ad Spend Handling and Payment. The EXCHAIN platform will replace the traditional paper insertion orders (“IO”) with digital smart contracts. All stakeholders of advertising campaigns, e.g. advertisers, agencies, DSPs, SSPs, DMPs, are able to execute a smart contract electronically, and as a result, real-time ad spend handling and payment processing becomes possible. The EXCHAIN platform’s smart contract system interacts with its SMART API for real time impression verification and ad spend handling and payment processing. The smart contract also legally binds all parties of a campaign in a unified ad serving channel.
Unrestricted Advertising Currency. The EXCHAIN platform enables advertisers to use a single advertising currency, EXT tokens, to achieve their global ambitions. EXT tokens will be used in all stages of the ad chain, and remove certain inherent restrictions on conducting business on a global basis. Advertisers can easily purchase EXT tokens from major coin exchanges and thereby acquire advertising resources in the blockchain advertising ecosystem that is the EXCHAIN platform. EXT tokens are also designed for adoption outside the EXCHAIN ecosystem for the open-sourced modules the platform intends to bring to the digital space.
Benefits Of Using The EXCHAIN Platform
Increased Advertiser ROI: Less Spend, More User Acquisition
EXCHAIN enables advertisers to increase their advertising cost efficiency by eliminating intermediary fees and fraudulent activities, and potentially saving them billions of dollars in ad spend per year. With a lower CPM, CPC, CPA and other cost models, advertisers on the EXCHAIN platform can acquire a significantly larger number of users with the same level of spend as in the past.
Higher Publisher Yield: More Revenue, Less Fees
The EXCHAIN platform enables publishers to have a clearer and fairer view of their revenue using the decentralised application and ledger of records. A publisher’s revenue share and yield will be increased by examining the transparent total amount of ad spend on their served ad impressions and this empowers the publishers to eliminate any false report of revenue amount.
Centralised Governance: Closer Multi-Stakeholder Collaboration
With campaigns executed in EXCHAIN on decentralised applications, all stakeholders in a single campaign can track and calculate their spend and revenue via a unified and multilaterally agreed tracking and verification environment. This closer collaboration enables reduction of expenses in notifying each stakeholder on occasions where there is a problem in the campaign delivery. It saves enormous human input and time wastage and all stakeholders are notified at the same time.
Lower Financial Risk: Real-Time Revenue Payout
Real-time payment processing is a groundbreaking advancement and encouragement to publishers and service providers to become more actively involved in the digital advertising arena as it mitigates the significant risk inherent when the industry is operating on a post-pay basis, and it will save the time and cost spent on credit referencing when a publisher or service provider seeks to onboard new clients. Real-time payment also opens up doors to partnerships that may not have been possible in the past.


When creating an Energy Use Profile, why am I seeing discrepancies between what my customer's utility bill says, and what ETB is calculating?
Accuracy and precision are important to us, especially when it comes to recreating a utility bill. There are a few common explanations for discrepancies between what your utility bills say and what ETB calculates:
Correctly defining rate schedule, sub-attributes: most of the rate schedules listed in our tariff library have several sub-attributes, like voltage type, service type, baseline territory, etc. These sub-attributes are specific to each utility rate schedule and, in some cases, can make a meaningful difference in bill calculation. The user needs to ensure they correctly define these sub-attributes to precisely recreate their customer’s utility bill.
Effective date (tariff): ETB calculates the utility bill based on the 'effective date' tariff the user specifies (the most recent ‘effective date’ is the default). Whereas older utility bills are often based on older ‘effective date’ tariffs.
Date ranges: when attempting to tie-out monthly utility bills, often times the billing date ranges don’t line up exactly. This can lead to monthly discrepancies in both the energy and demand charge sections. Users can adjust the billing start and end date in the Energy Use Profile to match the utility bill, to get a more precise monthly tie-out.
Customer-specific charges, like taxes and riders: some customers have unique utility/city/county tax rates that are specific to their account. In our new release, a user can custom define a customer’s utility tax rate, expressed either on a percentage or $/kWh basis – when creating their Energy Use Profile. In an upcoming release, a user can also custom create a utility rate schedule to precisely account for riders or direct access (custom supply) charges.
Bundled and unbundled rates: many utilities offer both bundled and unbundled service options. With bundled rates, a customer receives delivery (also known as distribution and transmission) and supply (also known as generation) from the utility company and typically receives a single utility bill with all of their charges. With unbundled rates, a customer will typically receive delivery charges from their local utility and supply charges from a third-party energy service company. A customer may receive two bills in these cases, one from their utility company and a second from their energy service company. If you find that your bills are not adding up correctly, you may have a customer with an unbundled service. In these cases, you need to create a custom utility rate that accounts for all charges from both the utility and the third party energy service company.
An error in our rate database: we are human and make mistakes. We do validation when we enter in new rate schedules in our system, but it is certainly possible we mis-entered something on our end. If you see a discrepancy and think it’s our fault, please let us know ASAP.


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MIAMI (CBSMiami) – A simple plan to save money is gaining followers and growing bank accounts.
An Oakland woman is changing her life and thousands of others’ after a Facebook post on a simple 52-week savings plan.
Kassondra Moreland was looking for a new goal this year.
“I was getting ready for work, and I just asked God, ‘I can’t do 2013 like I did for 2012. What do you have for me to do?’ ” Moreland said.
This question led her to something so much bigger, and it all started with social media.
“[I] signed on my Facebook, and there was this chart, and I said ‘I’m gonna save.’ I’ve never been a saver, let’s save,” said Moreland.
The chart was a 52-week savings challenge posted to her wall. Right away she shared it with her family and friends.
“I promise to motivate you every week to make deposits. I promise at the end of year to make sure we keep each other accountable, because I need you to hold me accountable,” Moreland said.
In the first week, you make a $1 contribution. During the second week, you make a $2 contribution. By the end of the year, that last week’s $52 contribution into your savings will bring you to a total of $1,378 saved.
Since Moreland’s post, 3,000 people have jumped onboard.
“The next thing I know, I got someone on there from France saying. ‘I’m doing deposits in Euros,’” she said.
Moreland’s new friends on Facebook, many who she doesn’t even know, have big plans for their savings.
“People want to go on vacations. People want to have money at Christmas without having to use credit cards,” she said.
Others are banding together for churches and other organizations. A church in Louisiana has invited 25,000 people to the challenge.
“So that’s $25,000+ they will have at the end of the year, and they are going to buy a church bus,” said Moreland.
It’s a chance for non-savers to save and reap the benefits at the end of the year.
“I’m not saying I’m giving you financial freedom, because $1,378 doesn’t give you financial freedom, but it does allow you financial breathing room,” Moreland said.
An alternative idea is to reverse the plan. So, the bulk of the savings will come sooner, instead of at the end of the year around the holidays.
Want to try it out?


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A Momentus Inc. investor sued the space infrastructure company in Delaware, citing concerns that sponsors of its 2021 blank-check merger pushed a flawed transaction because it was structured to give them a windfall whether the deal worked out or not.
The lawsuit seeks files from the company to probe suspicions that insiders affiliated with Momentus and Stable Road Acquisition Corp., the special purpose acquisition company it combined with, duped investors into approving the deal by falsely hyping its propulsion technology and concealing their own conflicts of interest.
“The truth of the matter is that Momentus is still nowhere near finishing its water propulsion technology, much less commercializing” it, according to the complaint filed Thursday by an individual investor.
But Stable Road’s board was intent on getting “any deal done at all, even if the deal inflicted severe harm on the unaffiliated stockholders,” who were “robbed of their redemption rights” and “tricked into investing in an overvalued company,” the suit says.
Momentus didn’t immediately respond to a request for comment Friday. The company, along with certain top executives, last year paid $8 million to settle Securities and Exchange Commission fraud charges stemming from the merger.
Wave of SPAC Litigation
SPACs, or blank-check companies, are publicly traded entities raising money on the promise of a reverse merger, or de-SPAC, with a private business that can then access public markets without the scrutiny of a traditional initial public offering.
Blank-check transactions exploded in popularity in 2020, leaving regulators to play catch-up, although the trend has waned amid a flurry of challenges that have led many companies to amend their regulatory disclosures. The SEC recently announced a SPAC crackdown.
The Momentus suit is the latest in a wave of Delaware litigation taking aim at the the structural features of SPACs, particularly “founder shares” that cost insiders fractions of a penny but soar in value—usually by a factor of thousands—if a merger is completed. The shares become worthless if a deal falls through.
Just one judge has ruled on those allegations so far, finding that the “mismatched incentives” inherent to SPAC transactions don’t themselves breach any fiduciary duties. But she also suggested judges would closely scrutinize the statements made to investors by SPAC deal backers.
Buried in Footnotes
According to the complaint in Delaware’s Chancery Court, sponsors of its blank-check merger repeatedly used cagey language or outright lied as part of an ongoing effort to confuse investors about whether its patents covered “water-based propulsion"—a potential breakthrough technology—or “generic propellants.”
They also allegedly buried information about their founder shares and other financial interests in footnotes that weren’t properly cross-referenced. Those are exactly the types of misleading statements that are suspicious in the SPAC context, according to the complaint.
“Now that the market has learned of the truth, Momentus’ stock has plummeted to less than 30% of the redemption price,” the suit says.
It seeks documents under a state law giving corporate shareholders broad inspection rights if they credibly suspect wrongdoing. Records cases often reflect an attempt to drum up fiduciary breach claims.
Cause of Action: Section 220 of the Delaware General Corporation Law.
Relief: Disclosure of relevant company records; costs and fees.
Attorneys: The investor is represented by Ashby & Geddes PA and Levi & Korsinsky LLP.
The case is Burk v. Momentus Inc., Del. Ch., No. 2022-0519, complaint filed 6/16/22.


Washington, DC—U.S. Senator Jim Risch made the following comments in response to President Obama’s speech on debt reduction.
"I am glad to see the President has finally joined the discussion on the most serious issue facing our country – our out of control spending. The federal government is borrowing over $4 billion every day. This has to stop. It is time to pass a balanced budget amendment to the Constitution which will force our federal government to not spend more than it takes in, just like our states must do."


The Heritage Contestable Fund financially assists owners of historic heritage items listed in the Proposed District Plan, to encourage and assist with work that benefits the heritage values of these sites.
A growing number of landowners are protecting and restoring heritage sites on their private land. The Heritage Contestable Fund was established to encourage and assist private landowners to carry out this work which benefits heritage values.
The Fund is a contestable fund which is assessed and approved throughout the year by the Council’s District Planning and Regulation Committee. Council staff, with expert advice where necessary, will make recommendations to the Committee.
There is a variable amount available in this Fund, which will be distributed amongst successful applicants. If there are no other applications or appropriate projects, the fund may not necessarily be distributed either in whole or in part.
The Heritage Contestable Fund Application form provides further details on how to apply for this funding.


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How MA Tax Reforms Might Affect High-Net-Worth Individuals Tax Webinars to be Hosted Next Week
Massachusetts lowered taxes for the first time in 20 years, but changes may not be compelling enough to anchor high-net-worth individuals who are looking to leave the state for a more favorable tax environment. While new legislation increases the estate tax exemption to $2,000,000, Massachusetts remains less competitive alongside the 13 other states that offer […]
AAFCPAs and AAF Wealth Management would like to make clients aware that Governor Maura Healey recently signed into law significant tax legislation. The package will modify a number of tax laws in the Commonwealth including those related to short-term capital gains, the estate tax exemption, and the joint filing requirement. While legislation was signed into […]
As we approach the conclusion of 2023, the Cannabis Practice at AAFCPAs extends a warm invitation to our esteemed clients and friends to proactively evaluate their comprehensive financial status in anticipation of strategic year-end tax planning. Please remember, implementing the majority of tax-saving strategies necessitates action on or before December 31. At AAFCPAs, we stand […]
AAFCPAs’ Individual & Family Tax and Wealth Preservation Webinar As we near the close of another calendar year, we again encourage clients to assess their complete financial situation now in order to plan their year-end tax optimization strategy. As you do, be mindful that most tax reduction approaches must be implemented by December 31 or […]
Watch Now: Cannabis Business Transactions for Growth & Exit Webinar
AAFCPAs has advised Cannabis clients through the years on a variety of business transactions. These have included mergers, acquisitions, divestitures, licensing of intellectual property and brands, issuance of stock options, and more. In this session, AAFCPAs provides insight into some of the most popular business transactions in the cannabis space, guidance on accounting for these […]
New Reporting Requirement Set To Impact Millions of Small Businesses
AAFCPAs would like to make clients aware of the new Beneficial Ownership Information (BOI) reporting requirement set to begin January 1, 2024. This new reporting requirement, part of an anti-money laundering initiative enacted through the Corporate Transparency Act in 2021, requires that millions of small businesses report beneficial ownership information (BOI) to the Financial Crimes […]
Asset Protection Strategies for High-Net-Worth Individuals
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AAFCPAs Provides Tax and Business Guidance at Cannabis Industry Conferences
AAFCPAs Provides Tax and Business Guidance at Cannabis Industry Conferences AAFCPAs’ Cannabis Practice leaders David McManus, CPA, CGMA and Joshua England, LLM, Esq. have been invited to present at two industry conferences in August 2023. AICPA & CIMA Cannabis Industry Conference David McManus, CPA, CGMA is pleased to present CAN2315, Taxes: Part 1 at the […]
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“The latest president are unable to exercise,” told you Household Presenter Nancy Pelosi, D-Calif., speaking-to the newest news inside the July. “That is not actually a discussion.”
If or not Pelosi’s conclusion try inspired because of the activities otherwise governmental expediency (read: giving Biden safeguards to own perhaps not keeping a campaign promise), Biden enjoys resisted acting unilaterally.
There is also the issue of cost. Once more, forgiving $10,000 each debtor carry out feature from the a good $370 mil price tag, with respect to the Brookings Establishment. Forgiving $50,100000 per debtor could cost on $step 1 trillion.
“Why would taxpayers – 70% out of just who did not see university – repay funds for folks who have a duty it haven’t met?” Foxx asks. (In 2020, the latest U.S. Census Agency stated that “From 2010 so you’re able to 2019, this online payday loans South Carolina new percentage of anyone decades twenty five and more mature having a bachelor’s education or more jumped off 29.9% in order to thirty six.0%.”)
“I do believe the latest chairman maybe understands that greater financing forgiveness isn’t common contained in this country, that’s the reason, I believe, he’s maybe not moved the latest route of doing what particular from inside the his cluster must do.”
Such as for instance, an effective Grinnell University poll conducted inside February learned that twenty-seven% of participants offered flexible all the student obligations and you can an extra 39% served forgiveness “for these in need of assistance.” Various other polling – off Vox/Investigation to have Improvements as well as the Harris Poll – a majority of respondents offered large, if limited, forgiveness.
NPR has actually verbal with well over several education loan professionals, also a few inside company, exactly who the state they expect it go back to payment becoming
In place of pretending unilaterally, even though, this season Biden asked the training and Justice departments to explore their courtroom solutions. The outcome continue to be TBD, more 6 months later on.
Subsequently, the newest Light Family moved mostly silent on financing termination. Some supporters – and some Democrats – care and attention one to, for whatever reason, the new government are intentionally hauling their feet. Not very, said Kvaal, the training undersecretary, inside the interview that have NPR.
“Judge expert is not an in-out of option. You really need to look at the requirements that will be used, the rationale that people can muster,” Kvaal explained. “We’re searching meticulously on White Domestic plus the Agency out of Fairness from the whether or not we could cancel funds over the board for everybody, and that is something where deliberations continue to be continuous.”
Day is running out
There can be a quarrel to-be generated one to Biden are running-out of your energy to help you broadly cancel student bills. Democrats’ majorities in Congress will most likely shrink the coming year, or even melt with the minorities.
In addition to this, the training Company has said it will require one government student mortgage payments, paused during the pandemic, resume as early as Jan. 30.
Imagine millions of consumers navigating a payment program it haven’t put much more than simply annually and a half. Of a lot will need to talk to the mortgage maintenance company to changes fees solutions. As well as 2 of those businesses, and therefore suffice around fifteen billion individuals, is actually now transitioning out from the government education loan business in general.
In the event the wider-based education loan forgiveness is just about to happens, it makes every feel global to do it in advance of paign hope would mean an incredible number of borrowers will have their costs deleted, permitting them to prevent that it difficult, probably disastrous fee restart.
That doesn’t mean Biden must continue their $ten,100000 financing forgiveness pledge at the same time. It just means, when the the guy does not, it’s hard to visualize broad forgiveness happening any time soon, whenever.
We’re going to chat today in the a subject you to privately impacts 46 billion People in the us – government education loan debt. As he was running to own president, Joe Biden talked a lot in the helping these types of individuals. The guy sworn to help you forgive at the very least $ten,one hundred thousand for each person in beginner loans – a guarantee he constant a couple weeks following election.


Chapel Hill, NC—David Madison joins HomeTrust Bank as a Vice President and Small Business Administration (SBA) Relationship Manager. He is responsible for originating SBA guaranteed loans; supporting Commercial Banking clients that may qualify for SBA financing; and cultivating relationships with clients to better serve their financial needs.
“Joining HomeTrust Bank was an easy decision because of the impressive people I get to work with every day that I admire personally and professionally,” says Madison. “It’s the personal touch and comradery that we’ve quickly developed as a team that truly makes a difference for our clients as we help them achieve their unique financial goals.”
Before moving to HomeTrust, Madison worked as a business finance consultant for United Community Bank and Diamond Financial Services. Prior to that, he spent ten years with Chase, where his last position was as the National Retail Cross-Sell Training and Strategic Planning Manager.
“David brings with him years of expertise and knowledge that will help us better serve our clients’ financial needs while also aiding in our ability to build strong relationships throughout the Carolinas and beyond,” says Joe Diggs, Senior Vice President and SBA Sales Manager. “Government guaranteed loan products are essential to small businesses and here at HomeTrust Bank we’re committed to helping these businesses achieve their goals. Employees like David help us to continue to do this better.”
Madison is married with two grown children. He is a graduate of UNC-Chapel Hill with a Bachelor of Science in Business Administration. When he’s not working, you will find him playing golf.


We are reviewing the fiscal process in the Mountain States to provide a resource comparing Idaho, Montana, and Wyoming. To help with this project, MSPC reached out to the budget office for each state. Here is my interview with Kevin Hibbard, Director of Wyoming’s State Budget Department, on the state’s fiscal process. The questions we posed are in italics.
Spending/tax limits – Does the state have a constitutional or statutory spending and/or tax limitation (i.e. supermajority requirement to raise taxes)?
Mr. Hibbard: “No, Wyoming does not have a supermajority requirement to raise taxes.”
Balanced budget requirements – Does the state have a constitutional or statutory balanced budget requirement?
Mr. Hibbard: “Yes, the state has a constitutional balanced budget requirement. Article 16, Section 2 says: ‘No debt in excess of the taxes for the current year, shall in any manner be created in the State of Wyoming, unless the proposition to create such debt shall have been submitted to a vote of the people and by them approved; except to suppress insurrection or to provide for the public defense.’
When building the state’s budget, agency requests cannot exceed forecasted revenue. The state budgets on a biennial basis.”
Restricted/protected reserves – Does the state have a constitutional or statutory requirement for restricted/protected reserves? If yes, is a certain percentage of revenues required to be automatically allocated to reserves?
Mr. Hibbard: “Yes, there are several restricted and protected reserves, and a percentage of revenue sources are dedicated to permanent funds also. Here is an example of where the tax sources are deposited.”
Non-partisan revenue forecast – Does the state have a non-partisan revenue forecast process? If not, how are revenue forecasts handled?
Mr. Hibbard: “Yes, as described by our Budget Data Book: ‘The Consensus Revenue Estimating Group (CREG) formulates anticipated state revenues, which are used by the executive branch and the Legislature in the budgeting process. These CREG forecasts occur in October, followed by the release of the October CREG report. The release of the October CREG forecast has been scheduled to provide final revenue information from the prior fiscal year and be proximate to the Governor’s development of budget recommendations.’ The January CREG report updates the forecast for the legislative session. Here is the most recent CREG forecast.”
Budget outlook – Does the state have a standing budget outlook process? If yes, how long of a time horizon does it cover?
Mr. Hibbard: “Yes, it is incorporated within the CREG. That forecast covers six fiscal years. As described by our Budget Data Book: ‘Wyoming’s state budget uses the prior biennium’s appropriation, also termed base budget, to arrive at a standard budget by modifying the base budget by a limited number of factors in statute or from language in the prior budget. Any further adjustments in the form of increases or decreases require a request by the agency, followed by a recommendation by the Governor, action by the Joint Appropriations Committee, and finally, approval by the House, the Senate, and the Governor.’”
Line-item veto/discretionary spending reduction authority – Does the Governor have line-item veto authority and/or the authority to reduce agency spending if a deficit occurs?
Mr. Hibbard: “Yes, line-item veto authority for bills that include appropriations. There is also a budget reduction measure in statute, and the Governor can reduce budgets.”
Tax structure – What are the main tax sources (and rates) for general fund spending?
Mr. Hibbard: “Here are the details from our Budget Data Book: ‘The general operations of State government and K-12 education are funded by five sources: sales and use taxes, severance taxes, federal mineral royalties (FMRs), ad valorem taxes, and investment income. Funds for the general operation of state government are collected and deposited into the state General Fund (GF) and Budget Reserve Account for distribution established by state law. The largest source of revenue for state general operations is sales and use taxes. Wyoming imposes a four percent statewide sales and use tax shared with the state, counties and municipalities . . .
Several major revenue streams and the distribution of revenues are governed by the Wyoming Constitution. As a result, there are constitutional limitations on the distribution of several major sources of revenue collected by the State. What is not included in the constitutional list is left for the Legislature to prescribe.’”
Audits – Does the state have an independent process for fiscal, compliance, and performance audits of state spending? What entity is responsible for the state’s federal single audit and ACFR?
Mr. Hibbard: “Yes, Wyoming's Department of Audit. Publication (ex. ACFR) examples can be found here.”
Performance-based budgeting – Does the state place high-level performance outcomes directly into the budget?
Mr. Hibbard: “Yes, and each Standard Budget and Exception Budget (deltas) require ties to the Strategic Plan. However, this is not what is commonly known as performance-based budgeting. Here are examples of how this works: Wyoming Budget Process and Instructions for Preparing Biennial Budget Requests 2025-2026.”
Credit ratings – What are the current credit ratings for the state?
Mr. Hibbard: “Here is the most recent report from S&P: ‘S&P Global Ratings' issuer credit rating on Wyoming (AA/Stable) is supported by the state's historical maintenance of very large fund balances, record of midbiennium adjustments in the event of revenue shortfalls, and low overall debt profile. These strengths are somewhat offset by cyclical components of the state's economic and revenue base, which is rooted in minerals.’”
Thank you, Mr. Hibbard, for your time answering these questions and your service to Wyoming.


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Get Coronavirus Relief to Indian Country, Tester Urges Administration
April 2, 2020
BIG SANDY – After the Trump Administration delayed the disbursing of $80 million in critical health care funds to help Tribes combat COVID-19 for nearly two weeks, U.S. Senator Jon Tester is pressing President Trump to make sure the newest $10 billion Tester secured for Indian Country is distributed quickly and properly.
Tester urged the Administration to engage with Tribal leaders to make sure that the resources are directed where they are most needed, and that the federal government lives up to its trust and treaty responsibilities.


CMS SupaTrak Save £100k with Xledger
Swindon Vehicle Telematics firm Saves £100K with Cloud-based Software from Xledger.
Vehicle telematics business CMS SupaTrak has installed cutting edge cloud-based software provided by Bristol-based Xledger as part of an overhaul of its systems.
CMS SupaTrak, based in Swindon, provides a wide range of telematics solutions including vehicle tracking, mobile working and driver behaviour management solutions.
Its management has been reviewing systems and procedures as part of an efficiency drive – and is now reaping the benefits after implementing Xledger’s innovative cloud financial management system.
Jason Airey, managing director of CMS SupaTrak, says the business was live with most processes within only a month of starting the implementation process.
He says Xledger has already boosted the business by:
- Providing daily insight into business performance – managers at CMS SupaTrak review KPIs on a weekly basis and can now analyse the exact information they require from within Xledger, for example by cost centre and/or by sales person, in real time as opposed to two days under the previous system.
- Speeding up the process of month end reporting – this used to take seven to ten days but now the team can complete the process within the first week, giving more time to analyse the results before the monthly board presentation.
- Enabling a more accurate billing process, particular in the area of recurring billing. Where solutions are billed on a monthly subscription basis the sales force had struggled to chase the repeat sales orders. Xledger automates this process and so far this has resulted in a saving of around £100,000 across a four- month period.
- Improving stock control – having stock movements and financials as an integrated system offers the immediate benefit of visibility.
- Supporting remote working for staff – Xledger can be accessed anytime, anywhere through any device but also provides touch screen access for some key processes.
- Allowing staff based in CMS SupaTrak’s European operations to process transactions in euros – previously all transactions had to be processed in sterling but now people based in the firm’s sites in France, Poland, Benelux and Germany can now enter sales orders and expenses directly into Xledger.
About CMS SupaTrak
Founded in 1993, CMS SupaTrak is a leading vehicle telematics company, with considerable expertise in vehicle tracking, CANbus integration, remote worker applications and systems integration. Their headquarters operates from Swindon where their team of 40 telematics specialists service and support over 25,000 deployed solutions across the UK and mainland Europe.
They develop and deliver solutions across all sectors, including Transport and Logistics, Service, Local Authority, Waste Management and Passenger Transport and have considerable fleet expertise with sector specific solutions deployed across many blue chip companies including Veolia, Serco, European Metal Recycling, Yusen Logistics, Biffa, Kier and SITA UK. Our Local Authority experience includes deployments across Birmingham City Council, Hampshire Council, Oxford City Council, Brighton and Hove Council, Eastleigh Borough Council, Fife Council, Malvern Hills Borough Council and Middlesbrough Council.
CMS SupaTrak design, manufacture, manage and deploy all of their own in house solutions under a fully managed and warranted service proposition ensuring end to end management by an accountable team.


Credit guru Thea Dudley has spent more than 30 years in LBM credit management. Contact Thea at [email protected].
I have enjoyed “Thea’s Mailbag” for a while now. Great stuff! I am retiring this month after 45 years in credit management in the exterior building products distribution business.
Credit manager commission or bonus has been kicked around and debated for many years in credit. There is a counterpoint for every point, as credit managers can manipulate results to fit a program by simply doing their job in a certain way to achieve the desired results.
One thing that cannot be debated is the contribution of a strong credit department to the bottom line of a company. When I say strong, I am not referring to the usual credit measurements. I am referring to the contribution the credit department makes to the overall corporate goals of growing sales and profits. A strong credit department makes solid credit decisions on new accounts, services the good accounts in the customer base whenever and wherever it can, manages the accounts that need managing throughout the year and finds a way to sell and collect the marginal accounts in a successful manner. When a credit department is doing all this at the highest level, the credit statistics will also be at the highest levels and the company will grow and prosper.
Even with all of the above stated, credit managers’ bonus compensations are best tied to sales and profit goals. This keeps them working toward company goals, versus some particular credit measurement that might contradict the company’s growth strategy. It fosters a close working relationship between credit and sales as each group pushes the other to [succeed]. Bonuses can be tied to corporate, regional, or branch results, depending on a credit manager’s area of responsibility.
One caveat, however, is that this works best when a credit department is more or less traditional, where the credit manager approves and manages customer accounts. It could also work where there is centralized credit application processing, provided the credit manager is responsible for the account from there forward. If credit responsibilities are divided up into multiple groups, handling one specific aspect of the credit program, it would be more difficult to do short of a general bonus to the credit/financial services employees if the company is satisfied with the overall results.
This is my 2 cents on the subject. Thank you, again, for your many great columns. They are always good and on point and come from the real world of credit management.
Signed, 45 Years of Credit Managing Bliss
45 years! Well, congrats on your fast-approaching retirement. You very well may be the godfather of credit! May I just say, hats off and much admiration to your longevity in a role that can be a soul-sucking experience, if you let it. But you, my dear friend, have the right attitude and approach that many fellow credit managers share. We get up, day in and day out, slap that smile on our faces, find the humor in situations no one else does, go into battle every day against almost everyone and absolutely love it!
So from every credit manager out there, thank you for the very well-written words and a huge and heartfelt congratulations on your many years of dedication. You rock! Enjoy your retirement...fishing and hanging out with your lovely wife! You can still live the credit life through the kids carrying on the legacy. Enjoy, you’ve earned it.
PS: Thank you for your very kind, and appreciated, words.
[Editor's note: Letters are edited for brevity, clarity, and style.]


18 June 2015
The potential “hidden” costs of property rentals
News that dozens of landlords may be set to pursue a claim against estate and letting agent Foxtons has prompted a warning to Buckinghamshire landlords and tenants from an experienced property litigation lawyer.
Sarah McLoughlin, senior associate at Gerrards Cross-based law firm B P Collins LLP, says the potential case is a reminder to both parties to check the small print in their contracts and, if necessary take legal advice before signing on the dotted line.
Earlier this month, it was reported that law lecturer and landlord Dr Chris Townley was charged £616 to install a security light at a house he rented out through Foxtons. The sub-contractor revealed it had charged £412.50 for the work, after which Foxtons added £137.50 commission, plus an ad hoc management charge of 10 per cent, plus VAT.
Dr Townley launched a legal action claiming the “hidden commission” was not covered in the landlord’s contract and when the story was featured in the national press, many more landlords came forward. These included journalist and former Watchdog presenter Lynn Faulds Wood, who claimed Foxtons had tried to charge her and her husband John Stapleton £2,000 to mend a leaky shower, which the couple’s own plumber fixed for under £400.
The lawyers handling the potential legal action say that if all Foxtons landlords join a potential group legal action, the agent could face a legal bill of up to £42 million.
With the buy-to-let market booming across the county, B P Collins acts for both landlords and tenants, and Sarah says the key for all parties involved is transparency and simplicity of all charges involved.
“Our advice is two-fold. Landlords should make sure that when they engage a letting agent, they know what they are signing up for. That means reading all the terms and conditions in the documentation carefully and, if anything isn’t clear, talk to a lawyer for advice,” she said.
“For tenants, one of the key issues is to make sure that the landlord isn’t allowed to pass the cost of repairs on. There may be occasions when this is possible, for example if, through a tenant’s actions, damage was caused to the property.”
In the Faulds Wood case, Foxtons apparently claimed the higher cost of repairing the shower was because it was using a preferred supplier who had been vetted by them.
Sarah warns that such practice can be commonplace and says contracts can include additional ad hoc management charges to cover arranging for the work to be completed.
The alternative, she says, is for property owners to manage the letting process themselves, but she warns that while this can be cheaper, it can also be a time consuming and complex role to take on.
“Agents ought to be earning their income from the management fees for the rental itself, not from adding additional fees and commissions on service charges, so it’s really important to check the small print,” she said.
“When work is needed on a property, the letting agent should make sure it is carried out as cost effectively as possible for the benefit of both the landlord and the tenant.
“We would certainly recommend having an experienced lawyer check contracts for hidden charges, not to do so may well prove a false economy.”


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UPDATE: Oppenheimer Starts Trinity Capital Inc. (TRIN) at Outperform
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Oppenheimer analyst Michael Penn initiates coverage on Trinity Capital Inc. (NASDAQ: TRIN) with a Outperform rating and a price target of $15.00.
The analyst comments "Trinity Capital is an internally managed BDC that focuses on providing equipment financing and term loans to growth-stage businesses in a broad range of industries. Trinity completed its initial public offering in January 2021. The key to Trinity's growing its ROE from 8.6% to 12% is $350M of portfolio growth over the next two years. We estimate EPS of $1.31 and $1.57 in 2021 and 2022 for an ROE of 10% and 12%, respectively. We project that the company can earn a 12% ROE, and given an estimated cost of equity capital of 10.5%, we calculate a fair value of $15/share, or 1.15x book value. With the stock now trading at around $14.50, we initiate at Outperform."
Shares of Trinity Capital Inc. closed at $14.56 yesterday.
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Home And Renovation Loan fha 203k streamline allowable repairs An FHA 203(k) loan is a. paid for using the streamline 203(k). This option does not include structural work on the home, such as adding new rooms or landscaping, and the home must be habitable.
The FHA Limited 203(k) and standard FHA 203(k) Consultant Loan eliminate the need for large out-of-pocket renovation costs that can drain your savings. With these options you can simplify the financing process by financing your home and your renovation cost into one FHA 203(k) loan.
How The FHA 203k Streamline Loan Process Works Jan 24, 2017 (0) comment The FHA 203k streamline loan is an option for those looking to renovate or repair their house. This type of home loan covers the cost of renovations or repairs up to $35,000, including simple cosmetic changes that don’t require major alterations.
Buyers can purchase a low-priced home in need of repair as long as they follow the right steps to process the 203(k) loan.. C., Karina. "Steps in Processing an FHA 203K Loan." Home Guides.
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Mortgage rates are higher than regular FHA Loans and Conventional Loans, it is recommended that borrowers refinance after FHA 203k Loan after completion of the project FHA 203k Streamline Rehab Loans The FHA 203k Streamline Rehab Loans are limited to a maximum construction budget of $35,000.
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Fha Construction Loan Requirements Here are several financing programs for purchase, rehabilitation, construction, or refinancing of different types of properties: HUD FHA 221(d. Thus, these loans are typically for large.
The standard 203K loan process is rather complicated and can take a long time to complete, but the 203k streamline process is much simpler and easy to complete. The difference between the two programs is the amount of money allowed for the remodeling. 203K Streamline lenders will maximize your changes at $35,000 in order to qualify for the program.
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Futures options and swaps?
As we said in our previous article, forwards, futures, and swaps are forward commitments. This means they are contracts requiring each party to perform a specified action in the future. Whereas, options and credit derivatives are contingent claims.
An option is a right to purchase or sell an asset at a specific date and at a predetermined price, whereas a swap is an agreement between two people or companies to exchange cash flows from various financial instruments.
In this sense, swaps can be seen as a sequence, or strip, of futures (Heckinger and Mengle (2013)). One key difference between swaps and futures, however, is that futures are highly standardized contracts, while swaps can be customized to better hedge the price risk of the commodity for the counterparty.
The four major types of derivative contracts are options, forwards, futures and swaps. Options: Options are derivative contracts that give the buyer a right to buy/sell the underlying asset at the specified price during a certain period of time.
The main difference between futures and options trading is that futures are a contract that obligates the buyer to purchase or sell an asset at a specified future date and price, while options give the buyer the right, but not the obligation, to purchase or sell an asset at a specified price and date.
A swap in the financial world refers to a derivative contract where one party will exchange the value of an asset or cash flows with another. For example, a company that is paying a variable interest rate might swap its interest payments with another company that will then pay a fixed rate to the first company.
Therefore, all that is needed to price6 the swap is the term structure of interest rates in each currency (to price the bonds) and the spot currency exchange rate. More generally, we will see that the cash-flow stream of a swap can often be considered as a stream of forward contracts.
When trading futures vs. stocks, there are no rules requiring a minimum account balance or restricting how many trades can be placed in a week. As a futures trader, you can trade long or short multiple times a day or week without worrying about day trading restrictions.
Futures and options are the major types of stock derivatives trading in a share market. These are contracts signed by two parties for trading a stock asset at a predetermined price on a later date. Such contracts try to hedge market risks involved in stock market trading by locking in the price beforehand.
Stocks and futures both trade on exchanges, but that's where the similarities end. Futures contracts expire on a set date and can be traded using much more leverage. Although stocks and futures share some common characteristics, they differ in significant ways that investors should understand, starting with the basics.
What are derivatives for dummies?
Derivatives are any financial instruments that get or derive their value from another financial security, which is called an underlier. This underlier is usually stocks, bonds, foreign currency, or commodities. The derivative buyer or seller doesn't have to own the underlying security to trade these instruments.
Counterparty risk, or counterparty credit risk, arises if one of the parties involved in a derivatives trade, such as the buyer, seller, or dealer, defaults on the contract. This risk is higher in over-the-counter, or OTC, markets, which are much less regulated than ordinary trading exchanges.
Common underlying assets include investment securities, commodities, currencies, interest rates and other market indices. There are two broad categories of derivatives: option-based contracts and forward-based contracts.
Futures have several advantages over options in the sense that they are often easier to understand and value, have greater margin use, and are often more liquid. Still, futures are themselves more complex than the underlying assets that they track. Be sure to understand all risks involved before trading futures.
Your personal risk tolerance is a huge factor in this, technically futures are inherently riskier, they have higher leverage than options and they don't have a capped max loss. Unlike buying options, the max you can risk is the full premium amount.
"Futures contracts are usually cheaper than options, particularly when volatility is expensive," she adds. Instead of a premium, futures contracts are purchased with a small down payment on the future trade.
A swap is an agreement for a financial exchange in which one of the two parties promises to make, with an established frequency, a series of payments, in exchange for receiving another set of payments from the other party. These flows normally respond to interest payments based on the nominal amount of the swap.
A swaption, also known as a swap option, refers to an option to enter into an interest rate swap or some other type of swap. In exchange for an options premium, the buyer gains the right but not the obligation to enter into a specified swap agreement with the issuer on a specified future date.
Types of swaps. The generic types of swaps, in order of their quantitative importance, are: interest rate swaps, basis swaps, currency swaps, inflation swaps, credit default swaps, commodity swaps and equity swaps. There are also many other types of swaps.
Futures are a type of derivative contract agreement to buy or sell a specific commodity asset or security at a set future date for a set price.
How risky are swaps?
What are the risks. Like most non-government fixed income investments, interest-rate swaps involve two primary risks: interest rate risk and credit risk, which is known in the swaps market as counterparty risk. Because actual interest rate movements do not always match expectations, swaps entail interest-rate risk.
In addition to limiting risk, options on futures can complement existing equity strategies and add diversification by allowing trades to be placed in uncorrelated markets. Markets like corn, wheat, soy, etc. will move differently than stocks or the S&P 500.
Future contracts have numerous advantages and disadvantages. The most prevalent benefits include simple pricing, high liquidity, and risk hedging. The primary disadvantages are having no influence over future events, price swings, and the possibility of asset price declines as the expiration date approaches.
If the asset value falls below the agreed-upon price, the buyer can opt out of buying it. This limits the loss incurred by the buyer. In other words, a futures contract could bring unlimited profit or loss. Meanwhile, an options contract can bring unlimited profit, but it reduces the potential loss.
What Are Futures? Futures are derivative financial contracts that obligate parties to buy or sell an asset at a predetermined future date and price. The buyer must purchase or the seller must sell the underlying asset at the set price, regardless of the current market price at the expiration date.