Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink LeBron James and the home at 9955 Beverly Grove Dr. (Credit: Ezra Shaw/Getty Images, and Google Maps)Los Angeles Lakers superstar LeBron James has spent the last two months in a Disney World bubble, but that didn’t stop him from closing on his Beverly Hills mansion for $36.75 million.The Real Deal reported in July that James would buy the 9,146-square-foot home at 9955 Beverly Grove Drive, but the purchase price had yet to be finalized. The deal closed Wednesday.Lee Phillip Bell (Credit: Rodin Eckenroth/FilmMagic via Getty Images)The 86-year-old mansion was marketed at $39 million; the seller was the estate of Lee Phillip Bell, who created soap operas like “The Bold and the Beautiful” and “The Young and the Restless.” He died in February.Jeff Hyland and Rick Hilton of Hilton & Hyland represented Bell. James had no listed broker, according to the Multiple Listing Service.Widely considered the best basketball player since Michael Jordan, James has spent 17 years in the NBA, his past two with the Lakers. James’ 2018 free agent signing with the team was foreshadowed by his purchases of two Brentwood mansions while still a member of the Cleveland Cavaliers. James plans to keep both those homes, according to sources interviewed in July.At 35, James is on the verge of leading the Lakers to the 2020 NBA title, as players compete while quarantined in a resort outside Orlando, Florida. The Lakers took Game 1 of the NBA Finals on Wednesday night against the Miami Heat. Share via Shortlink TagsBeverly HillsCelebrity Real Estate
Horse Sport Enews Subscribe to the Horse Sport newsletter and get an exclusive bonus digital edition! We’ll send you our regular newsletter and include you in our monthly giveaways. PLUS, you’ll receive our exclusive Rider Fitness digital edition with 15 exercises for more effective riding. Email* The Netherlands held firm to take the win while those around them crumbled in the closing stages of the opening leg of the Europe Division 1 section of the Furusiyya FEI Nations Cup™ Jumping 2013 series at La Baule, France . Switzerland finished second while Ireland, Great Britain and France shared third place ahead of Germany in sixth, Belgium in seventh and Spain in eighth.The Swiss seemed to have it in the bag after a superb opening round during which they collected just a single time fault. But despite a brilliant double-clear from Janika Sprunger, who took the Furusiyya Rider of the Day award for her performances with Palloubet D’Halong, they were obliged to add 10 more to their tally second time out which left them trailing the winning Dutch by three faults.The Longines timing system was busy all day as so many of the riders fell foul of the 84 seconds time-allowed. Frederic Cottier’s track was not over-demanding, but not one of the team that eventually won the competition managed to escape time-faults first time out when 17 of the 32 starters exceeded the target. Dutch pathfinder, Albert Voorn, collected just a single time penalty in an otherwise foot-perfect run in both rounds with Tobalio, while the impressive young Schuttert brothers, 23-year-old Hendrik and 19-year-old Frank, improved from nine and five faults respectively to seriously bolster their country’s chances in round two with clears that eventually decided the result.Set the SceneBright sunshine and perfect ground conditions set the scene for a great day of sport, and with three of the four members of the London 2012 Olympic gold medal winning side in action it seemed likely the British might, at last, record their first team success at this legendary French fixture. But although Nick Skelton and Big Star never put a foot wrong to register the only other double-clear of the day, mistakes for Ben Maher and Celia at the oxer at fence two, for Brash Scott and Hello Sanctos at the first element of the triple combination at six and for Robert Smith and Voila at the following vertical at seven saw them sharing last place with Ireland at the halfway stage.The triple combination and the following vertical off a left-handed sweeping turn were the two bogeys of the first round, with the water-tray under the latter seemingly influential. The open water at nine provided little or no drama, but the vertical at three, now raised to 1.60m, and the last line that included a double of oxers and the final vertical played their part as round two unfolded.As it began, the Dutch were sharing fifth place with the Spanish who were also carrying seven faults, Germany and Belgium were in joint-third carrying six, the French were in second with five faults on the board and the Swiss were in the driving seat carrying just the single time penalty collected by Olympic champion Steve Guerdat and Nasa.Second AttemptAnd Guerdat looked set to add just one further time penalty as he came to the last at his second attempt, only for that to fall for a total of five faults. Since pathfinders, Paul Estermann and Castlefield Eclipse, had already added five to their four from the opening round, that would now ensure a finishing total of at least six faults if the two remaining Swiss team members could go clear. As it turned out however, that was a big ask.The French meanwhile were also stumbling, with an additional eight faults after single errors from pathfinder Penelope Leprevost (Topinambour) at the final element of the triple combination, and anchorman Kevin Staut (Estoy Aqui de Muze) at the previous triple bar which only fell twice throughout the day. Although Olivier Guillon’s eight faults with Lord de Theize could be dropped when Marc Dilasser (Obiwan de Piliere) went clear, French chances were slipping away.Germany and Belgium lost their grip on the sharp end when collecting an additional nine and 13 faults respectively, while Spain disappeared from the reckoning with 14 more in their account despite an opening clear from Pilar Cordon whose chestnut mare, Coriana van Klapscheut, put in an attention-seeking protest before the start of each of her two lovely jumping exhibitions. The British and Irish both rallied well second time out when picking up just five faults apiece but it was all too late. And as it came down to the wire, it was up to the Swiss to win rather than the Dutch to lose, because when last-line Dutch duo of Leon Thijssen and Tyson put the discount score of five on the board, the team total of eight faults was as good as they could make it.Another fabulous clear from Sprunger and her 10-year-old gelding son of the great Baloubet du Rouet anchored the Swiss tally at six faults provided fourth-line rider, Pius Schwizer, could produce another clear. But, last into the ring and under incredible pressure, his relatively inexperienced nine-year-old, Powerplay, hit the first element of the triple combination, the white oxer two fences later and added a time penalty for nine faults which meant both Estermann and Guerdat’s five had to be taken into account. Their 11-fault final tally would be good enough for runner-up spot, but it was Rob Ehren’s Dutch team who would stand on the top step of the podium after a truly determined effort.Big Days and ExperienceAt 57 years of age, and with an Olympic individual silver medal in his trophy cabinet since 2000, Albert Voorn knows all there is to know about big days and the experience of winning, and of losing. Reflecting on today’s success he said, “we had a great spirit on our team. When one person is not doing well then, at this moment, we are not thinking about failing, we are thinking about what we can do to help.” He described the talented young Schuttert brothers as “two cool guys”, and talked about the challenges of today’s competition.“I’m in favour of time faults because then the best horse wins. My own horse spooks and also jumps from left to right so I have to take care of him. Janika’s horse is a top horse, she can ride forward from fence to fence much better than my horse and so can make the time allowed” he explained. But he is concerned about his future with the 13-year-old gelding, Tobalio, which has helped him make a welcome return to the top end of the sport in recent years.“I called Mr Visser of Eurocommerce in 2011 and said I would like to be one of the riders to fulfill his ambitions. He didn’t think I was still riding, because I was then doing smaller competitions, but he said ‘absolutely, we are going to do it!’, and two weeks later he called me back. He had two horses that no-one else wanted to ride and he said you can have them and if you can’t fix them then I won’t keep them. Try them and if it doesn’t work out I will get other horses for you. So we did some shows at 1* and at 3* and then I joined the team for La Baule last year and we came second, and then I also competed at Hickstead and Dublin. But because of Mr Visser’s financial situation I maybe will lose my horses. I put a lot of time into them and emotionally I’m very attached to them. If they go to the Bank, they they will be put up for sale. So I don’t know about my future with them”, he explained.Awaits their FateWhile he waits to learn their fate however, he is going to enjoy them as much as he can, and he has high hopes for Dutch chances throughout this inaugural Furusiyya FEI Nations Cup™ season. “We will try to get our Olympic team to St Gallen, Rotterdam and Aachen” he pointed out, “and I’m hoping to go to Falsterbo, Hickstead and Dublin.”Meanwhile Hendrik Schuttert was just enjoying the moment and the super result achieved for his country with the help of himself and his brother. “This is our first Nations Cup together so it’s a super feeling that we can compete together in the Nations Cup at the highest level – to win the first time for us, its amazing!” he said.Under the new rules of the Furusiyya series, just four of the teams staring in today’s competition – France, Ireland, Great Britain and Switzerland – were seeking points towards the Final in September and it is the Swiss who gained the highest number of points.The action in the Furusiyya FEI Nations Cup™ Europe Division 1 series now moves on to the beautiful Piazza di Siena in Rome (ITA) next Friday, while Copenhagen, Denmark hosts a leg for Europe Division 2 on the same afternoon.For information on the Italian fixture go to website www.piazzadisiena.com or contact Press Officer Caterina Vagnozzi at email [email protected] or Tel +39 335 610 7070. For information on the Danish fixture check out website www.firsthorsegrandprix.dk or email [email protected] Netherlands 8 faults: Tobalio (Albert Voorn) 1/1, Cerona HS (Hendrik Jan Schuttert) 9/0, Winchester HS (Frank Schuttert) 5/0, Tyson (Leon Thijssen) 1/5.2. Switzerland 11 faults: Castlefield Eclipse (Paul Estermann) 4/5, Nasa (Steve Guerdat) 1/5, Palloubet D’Halong (Janika Sprunger) 0/0, Powerplay (Pius Schwizer) 0/9.3. France 13 faults: Topinambour (Penelope Leprevost) 1/4, Obiwan de Piliere (Marc Dilasser) 8/0, Lord de Theize (Olivier Guillon) 0/8, Estoy Aqui de Muze (Kevin Staut) 4/4.3. Great Britain 13 faults: Big Star (Nick Skelton) 0/0, Celia (Ben Maher) 4/0, Hello Sanctos (Scott Brash) 4/8, Voila IV (Robert Smith) 5/5.3. Ireland 13 faults: Amaretto Darco (Shane Sweetnam) 0/8, Balloon (Shane Breen) 0/4, Ballymore Eustace (Shane Carey) 8/1, Tinka’s Serenade (Billy Twomey) 9/0.6. Germany 15 faults: Cavity G (Holger Wulschner) 9/4, Carlson (Katrin Eckermann) 1/4, Lacan (Patrick Stuhlmeyer) 0/8, Leonie W (Lars Nieberg) 5/1.7. Belgium 19 faults: Bufero Vh Panishof (Dirk Demeersman) 1/4, Cor van de Wateringhoeve (Donimique Hendrickx) 1/9, Cabrio van de Heffinck (Olivier Philippaerts) 12/0, Denver van T Goemanshof (Ludo Philippaerts) 4/9.8. Spain 21 faults: Coriana van Klapscheut (Pilar Lucrecia Cordon Muro) 1/0, Bonaire 5 (Manuel Fernandez Saro) 5/9, Prunella D’Ariel (Paola Amilibia Puig) 1/9, Qlamp D’Ivraie (Manuel Anon Suarez) 17/5 Tags: Rob Ehrens, Frank Schuttert, Leon Thijssen, Hendrik Jan Schuttert, Albert Voorn, urusiyya FEI Nations Cup™ Jumping, More from Horse Sport:Christilot Boylen Retires From Team SportAfter an exemplary career as one of Canada’s top Dressage riders, seven-time Olympian Christilot Boylen has announced her retirement from team competition.2020 Royal Agricultural Winter Fair CancelledFor only the second time in its history, The Royal Agricultural Winter Fair has been cancelled but plans are being made for some virtual competitions. SIGN UP Royal Agricultural Winter Fair Statement on 2020 EventAs the Province of Ontario starts to reopen, The Royal’s Board and staff will adhere to all recommendations put forward by government and health officials.Government Financial Assistance for Ontario FarmersOntario Equestrian has recently released this update of several financial assistance packages available, including those for farm business.
While the fate of music festivals in North America planned for this year remains unclear, organizers at Mountain Music Festival have erred on the side of positivity and announced their lineup for scheduled for this summer. This year’s festival, set to take place June 3rd-5th, will host a lineup featuring Lettuce, The Wood Brothers, TAUK, The Infamous Stringdusters, and many more.Nestled in the Appalachian Mountains at ACE Adventure Resort in Oak Hill, WV, Mountain Music Festival saw most of the acts from the postponed 2020 dates roll over to the 2021 event. Other artists on the lineup include BIG Something, The Werks, Moon Hooch, Arlo McKinley, Funk You, Empire Strikes Brass, Fletcher’s Grove, Magnolia Boulevard, and more.Related: COVID Concert Experiment In Spain Shows No Infections After 463 People Attend ShowThursday’s announcement also noted that there is still one more “super duper surprise” for this year’s lineup that will be revealed at a later date. Other artists to set to appear a this year’s Mountain Music Festival include Buffalo Wabs & The Price Hill Hustle, 49 Winchester, Joslyn & The Sweet Compression, Dr. Bacon, The Kind Thieves, Black Garlic, The Wright Ave, BareFuzz, Groundhog Gravy, The Settlement, DownTown Abby & The Echoes, Emma’s Lounge, Reliably Bad, Vintage Pistol, Will Jones Band, Matt Mullins & The Bringdowns, Andrew Adkins WV, Jake Dunn & The Blackbirds, The Mighty Good Times, and Paul Johnson with Corey Lee McQuade.This announcement comes the same week that Dr. Anthony Fauci projected that music venues could reopen as early as fall if the United States’ vaccination rollout goes according to schedule. The initial Mountain Music Festival lineup announcement did not include any information on social distancing guidelines or health safety measures, though a previous announcement stated that organizers “do not intend to do anything that will violate state or local health department guidelines.”For tickets and more information on the 2021 edition of the Mountain Music Festival click here.
AMITYVILLE, N.Y. – A school bus driver was hospitalized in critical condition after an early morning crash involving a tanker truck on a Long Island highway.The accident happened on Sunrise Highway, near Route 110, in Amityville at about 6:40 Monday morning.There were no children aboard the bus when it crashed into the tanker. The tanker was carrying 5,700 gallons of waste oil.Suffolk County police say the bus driver, 56-year-old Piters Calixte, was airlifted to Stony Brook University Hospital.The driver of the oil tanker was not injured. No oil leaked from the tanker.Authorities are conducting safety inspections of both vehicles.
Children ages 6 weeks to 12 years may receive care in the private home of a certified family child care provider living in government-owned or leased housing. Family child care is typically available weekdays and with additional care provided during evenings, weekends and flexible hourly care for shift work. Regulations limit the number of children who receive care at any one time to no more than six children under age 8 and no more than two children under age 2. Family child care providers must be certified to operate by the installation. Individual providers may voluntarily seek national accreditation from the National Association of Family Child Care and are provided local support, training and materials to accomplish this goal.The Family Child Care Program offers home-based child care in licensed homes for children ages two weeks through twelve years. These self-employed providers operate their home independently in compliance with strict Air Force policies, including frequent inspections and close monitoring by the Family Child Care staff. Extensive background screening and orientation training must be completed prior to licensing. Full time, part time, hourly, weekends, extended hours and school age care is available, depending on the provider. Families may live in base housing or in the community.A list of family child care providers residing is available at the Child Development Center, Youth Center, Airman & Family Readiness Center, and published in the Force magazine. For more information about family child care or on becoming a family child care provider, call 310-653-6802, DSN 312-633-6802.A lending library is available for age-appropriate toys and books, and books and videos on child-rearing topics.
Misfit, the activity tracker specialist aimed at ‘bringing fashion to the forefront of the fitness industry’, is launching Misfit Vapor 2. The company adds that its new ‘design-forward touchscreen smartwatch for iOS and Android users puts everything they need right on their wrist.’Following the success of the original Vapor, the new Misfit Vapor 2 aims to offer users an elevated smartwatch experience with all key features from the first watch, and combines new features such as standalone GPS, varying size options and NFC (near-field communication) support.Misfit Vapor 2 launches on the heels of and is powered by Wear OS by Google. Wear OS by Google provides Misfit users with a variety of features, including Google Assistant, hundreds of apps on Google Play, notification alerts and Google Fit, in a completely customizable experience for both iOS and Android users.Like its predecessor, Misfit Vapor 2 features a built-in music player, 4GB of storage, an upgraded and redesigned optical heart rate sensor, swim-proof design and all-day battery life.“At Misfit, we want to make your life easier and accessible no matter what you are doing and do it in a fun, fashionable way,” said Hacker Plotkin, VP of Brand for Misfit. “Misfit Vapor 2 is the watch for everyone, and customers have the unique ability to customize this watch to meet their every need.“Our strap bar, alone, offers an array of colours and materials and takes the customer from gym to grocery store to a night out. This watch gives iOS and Android phone users who care about aesthetic and the way technology fits into their everyday lives, the perfect fashion-meets-function option.”Misfit Vapor 2 offers users the technology of a smartwatch with the look of a fashionable wrist accessory. There is a choice between 41mm and 46mm case options, based on preference. The sleek, compact design is complemented by various strap options, with eight different colourways at launch. Users can also customize the watch face with a variety of style options – change the colour, background image, and even the font.With the new Misfit Vapor 2, users can track distance travelled using standalone GPS, calories burned and steps taken using Wear OS by Google and other downloadable third-party apps. Furthermore, users can view and track resting and active heart rate with a new and improved built-in heart sensor.Misfit Vapor 2 also gives users the freedom to choose from various music apps on the go, by pairing Bluetooth headphones for a full wireless experience. Newly integrated NFC enabled payments (available in select countries) give users the ability to make secure payments right from their watch.Wear OS by Google brings the Google Assistant to users’ wrists. Users can ask about the weather, remind themselves to call a friend or family member when they get home, or turn off the lights.The new Misfit Vapor 2 is also equipped with hundreds of apps at launch. Whether users prefer iPhone or Android, the smartwatch provides instant access to favourite apps such as Uber, Google Fit, Google Maps, Google Play Music, Strava, and many more.Round AMOLED display, accentuating a vibrant colour palette in 328 pixels per inchTouchscreen display allows users to seamlessly browse Misfit Vapor 2’s menu of watch faces and view notifications, without obscuring content on the displayQualcomm Snapdragon Wear 2100 Platform, as well as Bluetooth and Wi-Fi connectivityDurable 41mm and 46mm satin-finished stainless-steel caseStandard USB port charging that connects to a magnetic charging cradleCompatible with phones running iOS 9.3+ and Android 4.4+ (excluding Go edition)Misfit Vapor 2 will be available over the coming weeks, with pricing starting at US $249.99.www.misfit.com Related
Constructed in the early 1900s, the Irene B. French Community Center has limited useable space and costly maintenance issues.By Jerry LaMartinaA plan that would have the city invest approximately $30 million in a new facility to replace the Irene B. French Community Center and the Merriam Aquatics Center is officially on the table for consideration as the city maps out its parks and recreation priorities for the coming years.With unanimous approval at its Monday night meeting, the Merriam City Council formally acknowledged the completion of work on the new facility plan as an option that would be in the mix of consideration in the coming months. The next step is to create a plan to further educate Merriam residents about all three options before the city budget process starts in March, City Administrator Chris Engel said. The other two options call for upgrades to the existing Irene B. French Community Center. Though they would require a considerably smaller investment — between $5 million and $16 million — they would also provide limited usability and would be more expensive in maintenance costs.Representatives from Confluence, PROS Consulting and SFS Architecture detailed the proposed third option, which would call for building a combined community and aquatics center on the site of the current pool facilities at an estimated cost of $30 million. It would take about 33 months to complete. The Executive Summary and the full Facilities Master Plan can be viewed on the city’s website here.A group of about 100 Merriam residents got their first look at concepts for possible replacements for the community and aquatic centers on Dec. 13. All three proposals resulted from months of work among consultants, parks and recreation officials and the city administration.Brian Garvey, an architect with SFS, said the third option’s design would enable people to “see almost all offerings when you walk in the lobby,” which would be large and well lit. It would have a 240-seat event space, meeting spaces, a café, an art gallery, a senior lounge, two classrooms that each could seat 25 and could be joined by removing a partition, a four-lane indoor swimming pool and an eight-lane outdoor pool.The current community center has 33,000 square feet of available space, of which 13,500 square feet is available for programming. The third option proposes 65,000 square feet of available space and 49,000 square feet for programming.The current facilities take in annual revenue of $282,000, require $1.1 million in expenditures and get $814,000 in city subsidies. The third-option single facility would take in an estimated $1.3 million in revenue, require expenditures of $2 million and get $679,000 in subsidies the first year.A few residents expressed support for the plan during the meeting’s public-comments segment. But resident Sam Matier, a frequent presence at council proceedings, said he opposed it. He questioned whether a survey that had been conducted of 522 Merriam residents adequately represented the whole city’s views on building a new, single center.Matier read aloud some opposition responses he’d gotten from other residents to a note he’d sent out asking their opinions on spending $30 million for a new, combined center.“These are your constituents,” Matier told the council. “I think you should consider what they say. …You have to be financially responsible for this community.”Mayor Ken Sissom said the survey met and exceeded national standards for statistically valid surveys.“I have a lot of confidence in these results,” Sissom said. “I can tell you what’s not statistically significant: one individual comes up and says they went around their neighborhood and talked to seven people and they decided they were against it. And another thing: I’ve talked to a lot of people about this issue, and other council members have, too. People come to talk to us because we are their elected representatives.”Matier asked whether residents would get to vote on whether the city would issue bonds for the project.“Or will this council do as they’ve done in the past and ‘charter out’ of it, and in so doing not let the people have the right to exercise their vote?” Matier said.“We have no choice but to put it to a vote,” Sissom said. “The law requires it. Even if we didn’t want to (put a bond issue before voters), which isn’t the case, we’d have to do it.”The city’s charter does give the council authority to override a state statute, and citizens have recourse through a petition process, City Attorney Nicole Proulx Aiken said after the meeting.Sissom asked City Administrator Chris Engel whether he’d gotten a request from any council member to charter out regarding bond issuance. Engel said no. Sissom asked other council members whether they’d been asked to or had any interest in doing it. They said no.“You talked about the term ‘oligarchy,’” Sissom said to Matier. “While you were standing there I looked it up. I’d like for you to look up maybe another term: it’s called representative democracy, because that’s what we do here. That’s what’s done in this country in every state, in every city. That’s how our country’s run … and that’s what gives us the ethical right and the legal right to make the decisions that we make. Now there isn’t anybody up here that doesn’t believe that the community should get the opportunity to weigh in on this in a public vote.”“Good,” Matier said.“As far as I’ve been told,” Sissom said, “we fully will be moving in that direction, not because it’s legal and it’s our only option, but because that’s our desire, as well. But what I don’t like is when people come up here and accuse us of not doing that just because we simply won’t promise to do it. As I’ve said before, our next process is to take this in to the budget process … because that’s the process we always do.”Matier said he accepted “that this council has said they will not charter out—and I haven’t heard it before tonight—that the people of Merriam will get to vote on whether to issue bonds. That’s what I’ve heard tonight.”
The budget fallout from the coronavirus pandemic has been bad, but not as bad as expected in Johnson County. A first look at a 2021 county budget showed that although tax revenues are expected to be less than originally predicted, County Manager Penny Postoak Ferguson hopes to be able to keep the taxing rate steady without dipping into reserves or making big cuts to services.Postoak Ferguson presented her proposed budget on Thursday. It’s a first step in the process that will set county taxes and spending for the coming calendar year.The $1.25 billion budget would be met with an estimated 19.036 mill levy for the county taxing district, 3.904 mills to support the library system and 3.090 mills for the park and recreation district.The total budget includes $931.5 million in spending with $321.5 million in reserves. The biggest part of the reserve fund is $162 million for wastewater for expenses related to the new Tomahawk wastewater treatment plant in Leawood.The budget also includes 4,107 full-time equivalent positions, which is 18 fewer than for this year.Postoak Ferguson said it is “no small thing” that the county will not need to use reserves to get through the rest of this year. “Some local government would make their approach that reserves are meant for times like these but we were trying to do it without,” she said.The outlook for the budget has improved somewhat from early spring, when major revenue shortfalls were predicted. The county’s first COVID-19 case was March 7 and the shutdowns that followed upended all the predictions about how much would be coming in for the county to meet its expenses.County budget experts laid out three scenarios in April, with shortfalls this year ranging from $18 million to $38 million. But by June, the shortfall for the current year is expected to be $15 million, which is better than the original worst-case scenario.In the meantime, the county expects to save close to $25 million this year from various cost-cutting measures, including furloughs, vacancies unfilled and reductions in projects.The county managed to dodge some of the revenue hits this year, said Budget Director Scott Neufeld. Delinquent spring property tax payments were not as high as they could have been, possibly because they came due when people had the money already set aside, he said. And although sales tax was down, the use tax, made on purchases outside the state, was up.Neufeld said a “modest recovery” looks possible for the 2021 budget year. If it holds, the shortfall next year should be around $3.2 million. Sales tax is likely to continue to be about 8-10% lower, he said.Postoak Ferguson advised that the county may need to plan for some extra contingencies if there is a big increase in employee healthcare costs. The hiatus of the state Board of Tax Appeals may also have an effect. The board, which hears appeals on such things as big box property appraisals, will not be able to resume meetings until new appointments are made. Currently there are not enough members for a quorum.Neufeld estimated the appeals on hold could end up costing the county $15 million in the worst case.
7SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Banks are already feeling the pressure to reduce underwriting standards not only for their mortgage loans but for car loans as well. Why is this so intriguing to me? Because, contrary to popular belief, nothing in Dodd-Frank or the CFPB’s regulations prevents financial institutions from making exactly the type of mortgage loans that got us into this mess in the first place. Instead, the regulations are designed to incentivize better underwriting standards both by increasing penalties such as foreclosure defenses and monetary damages and providing incentives such as “safe harbors.” Credit unions can benefit from banker uncertainty if they are willing to make the same loans that they have in the past, particularly if they had the ability to hold on to more of their mortgages. It also means that credit unions, like banks, have to have clearly delineated underwriting standards, as well as an understanding of when it is appropriate to make exceptions to the standards. As for car loans, could financial institutions be pushing out loan terms so far that we could experience a car loan bubble? continue reading » by. Henry MeierThe OCC released its semiannual review of the risks facing the banking industry and even though it doesn’t apply to credit unions it provides an excellent synopsis of the trends within the financial industry and the perceived threats highlighted by examiners. This is by no means a definitive list; I’m simply highlighting a few of the issues that might be most relevant to your credit union.Cyber security continues to be on everyone’s mind. The reality is that everyone knows what hackers can do and we are waiting to see just how much more destructive and creative they can get at stealing people’s money. This is no longer just a problem for the largest big name financial institutions. As the OCC explains: “Business lines and functional areas within banks must perform thorough risk and control self-assessments, analyze operational events, and identify, assess, monitor, and mitigate emerging risks. Risk management is balancing resource constraints, retention of key talent, and overall capability to monitor the breadth of change.” Translating: ongoing implementation of your BSA risk assessments is more important today than ever before. In addition, if your vendor contracts don’t appropriately apportion responsibility for monitoring risk, they need to be amended.
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