Promissory note repayment will cost jobs

first_imgNewsLocal NewsPromissory note repayment will cost jobsBy admin – April 17, 2012 566 LIMERICK-born economist, Tom McDonnell, believes that recent moves to negotiate a deal on the Anglo Irish and Irish Nationwide promissory notes, is a positive move.Mr McDonnell was speaking at Mary Immaculate College. He did, however, warn that the structure of the deal and in particular the interest rate, would be crucial to Ireland’s debt sustainability“As it stands, the promissory notes will cost €47 billion over the next 20 years. Sign up for the weekly Limerick Post newsletter Sign Up “It is welcome that the Government is now prioritising this issue and realises that the current structure of Ireland’s debt burden and the promissory note payments has to be renegotiated with a view to easing the burden on the Irish state and ensuring Ireland’s debt sustainability into the medium term. “However, the structure of any deal is crucial.  We don’t yet know exactly what will come about and in particular there is no information regarding what the interest rate on payments might be.”Mr McDonnell was speaking before addressing a public meeting on promissory note that was hosted by the Limerick One World Society.“The promissory notes constitute our remaining €30.6 billion bill for the private debts of Anglo and the INBS – a bill due to be paid by the Irish people through higher taxes and lower public spending: he pointed out.  “While most of the Anglo/INBS bondholders have now been repaid, we will be footing the bill for that repayment for years in terms of lower public spending and higher taxes – taxes which will be used to pay for bank debt rather than for improved public services or infrastructure. He said that over 2% of GDP will be sucked out of the economy each year up to 2023 to meet the promissory note repayments, which will mean more job losses and more pressure on a battered economy and society.“TASC (an independent, progressive think-tank dedicated to promoting equality, democracy and sustainability in Ireland through evidence-based policy recommendations), has suggested that the Government seek to convert the promissory notes into a low-interest long-term government bond – sometimes called a ‘bullet bond,” which is repayable over a longer period, such as 50 or even 100 years and has long argued that at least some of the former Anglo’s private banking debt that was socialised should be written-down.”He concluded that the outcome of the negotiations being conducted by the Department of Finance and the ECB will have a long-term impact on Ireland’s debt sustainability and economic recovery. Advertisement Facebook Twitter Emailcenter_img Print WhatsApp Linkedin Previous articleCharged with breaching court order at Newcastle WestNext articleIGB identify owners of dead greyhounds adminlast_img read more

Former mayor comes out of retirement for local election

first_imgNewsPoliticsFormer mayor comes out of retirement for local electionBy Alan Jacques – March 29, 2019 1687 Former Mayor Jim Long who will be contesting the local elections in May.Photo: Emma JervisFORMER Mayor of Limerick Jim Long has entered the fray as a candidate for the upcoming local elections in City West.Speaking to the Limerick Post this Wednesday, the former Fine Gael councillor revealed that he has been encouraged to come out of retirement and put himself forward as an Independent candidate on May 24.Sign up for the weekly Limerick Post newsletter Sign Up “Over the past five years, I have always been available to people who needed advice on a broad number of issues and concerns. Also, I kept an eye and ear on the shenanigans at council,” the Ballinacurra Gardens man explained.“My assessment is that delivery has been overshadowed by personal fulfilment of the majority of councillors who sit in council chambers. It is very obvious that the cosy done deal between Fine Gael and Fianna Fáil at the behest of senior management within Limerick City and County Council has led to these councillors becoming yes men and women to the chief executive and his team.“As a result, we have dictatorship at the cost of governance and democracy,” he claimed.“This is evident in relation to a number of issues that have failed the people of Limerick over the years.“To name but a few, the huge concerns from operations at the Irish Cement and Aughinish factories from toxic pollutants has now soared beyond health concerns, to an actual denial of our human rights by administrators and agencies.“Our elected members have been extremely silent on the process. The mould must be broken between the Fine Gael and Fianna Fáil coalition and senior management.“They have to be ousted and replaced by trustworthy candidates who will deliver for the people, not for Council management, themselves or multinationals,” he concluded. Local backlash over Aer Lingus threat Linkedin Twitter Previous articleScramblers are creating havoc on Childers Road in LimerickNext articleGiant Granny left a rich cultural legacy in Limerick Alan Jacques TAGSLimerick City and CountyLocal Elections 2019politics Is Aer Lingus taking flight from Shannon? WhatsApp Printcenter_img RELATED ARTICLESMORE FROM AUTHOR TechPost | Episode 9 | Pay with Google, WAZE – the new Google Maps? and Speak don’t Type! Limerick on Covid watch list Advertisement Facebook Housing 37 Compulsory Purchase Orders issued as council takes action on derelict sites Population of Mid West region increased by more than 3,000 in past year Emaillast_img read more

Academy Street School graduates reunite, celebrate history (PHOTOS)

first_img Email the author The Academy Street High School 9th School Reunion and Historical Marker Dedication Ceremony was held Saturday, July 5. The event began at Troy City Hall where ASHS alumni gathered to march with class flags to the former Academy Street High School, the site of the Historical Marker Dedication Ceremony. Each class from 1944 through 1970 was represented. Below, Troy Mayor Jason Reeves visited with S.T. Wilson, Jr. prior to the Historical Marker Dedication Ceremony. Wilson was a member of the Class of 1944. His dad S. T. Wilson, Sr. was the first principal of the school on East Academy Street.MESSENGER PHOTOS | JAINE TREADWELLSaturday, July 5, 2014, was a day for history.Academy Street High School in Troy was officially acknowledged for its place in history and the plan for its future was set in motion.Academy Street High School alumni, community leaders and friends of the school gathered to celebrate the dedication of the marker that will set in stone the school’s place in history on Alabama’s Register of Historic Landmarks and Heritage. Remember America’s heroes on Memorial Day Plans underway for historic Pike County celebration Book Nook to reopen Academy Street School graduates reunite, celebrate history (PHOTOS) Published 9:07 pm Monday, July 7, 2014 Gillis said the ninth School Reunion was a time of looking back and planning forward.“Our hope is to have Academy Street High School restored to its glory days and to once again be a hub of community activity.”In addressing the alumni, Troy Mayor Jason Reeves said Academy Street High School positively impacted the Troy community through its leadership and its students.“Today is history,” he said. “Academy Street High School is who we were and a big part of who we will become.”Willie Thomas, former school administrator, said the administration and staff of Academy Street High School had a “burning desire” to provide the students with the best education possible.“The faculty knew that education was the key to success and happiness and enabled the students to live blessed and fruitful lives,” he said.S.T. Wilson, Class of 1944, said those who attended Academy Street High School left lasting footprints in the sands of time.Those footprints have provided a historic record of a proud past and set a path for successful futures for those who would follow, he said.Sarah Spencer, Class of 1964, said 50 years later, her class remains close knit and caring, a hallmark of the school.“Today means Academy Street High School is officially on record and its history is chiseled in stone,” she said. “We will return to our glory days.”Gillis said July 5, 2014, will long be remembered as a most magnificent occasion and that the history of the school should now be recorded in print and its artifacts restored.“When we come back in 2016, hopefully, we will be able to have every event on site,” he said in reference to a restored Academy Street High School and a collective cheer when up from the alumni crowd.Shelia Jackson, director of City of Troy Tourism, said July 5, 2014, was a momentous day in the history of Troy.“Academy Street High School played an important role in the educational system of Troy,” she said. “The school’s foundation was in a two-room school on East Academy Street in 1921. Until the high school closed its doors in 1974, it provided outstanding educational opportunities for black students. The city takes great pride in the many contributions those students have made and continue to make in our community and places throughout the country and the world. As Mayor Reeves said, July 5, 2014, has a place in history.” Troy falls to No. 13 Clemson Around the WebMd: Do This Immediately if You Have Diabetes (Watch)Blood Sugar BlasterIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier LivingHave an Enlarged Prostate? Urologist Reveals: Do This Immediately (Watch)Healthier LivingWomen Only: Stretch This Muscle to Stop Bladder Leakage (Watch)Healthier LivingRemoving Moles & Skin Tags Has Never Been This EasyEssential HealthGet Fortnite SkinsTCGThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancel Latest Storiescenter_img A collective cheer arose from the crowd in appreciation for the role Academy Street High School played in the education of Troy’s black students from 1921 through 1974.The historic marker reads: On May 9, 1921, S.B. Innis, C.L. Jenkins, James Henderson, Pres Thomas and C.B. Brooks, the “colored school committee,” entered into a school mortgage for the construction of a building for “colored school purposes” on East Academy Street.The school began with two grades, one teacher and a term of 72 days in a two-room dwelling. By 1927, the school had become a junior high school with six teachers and six classrooms. The City Board of Education changed the name from Troy Junior High School on Academy Street to Academy Street High School in 1941, the year of the school’s first graduating senior class.The historic marker traces the history of the school and marks in place its history, but the real story of Academy Street High School is etched in the memory of those who walked those hallowed halls.The day’s activities began with a march from Troy City Hall to Academy Street. The alumni proudly carried class flags and chanted cheers of “We are the Roving Tigers” and “We are the Golden Tigers.” There seemed to be a lapse in memory as to which “Tigers” but no one seemed to care.“We’re alumni of Academy Street High School and that’s what matters,” said Lewis Gillis, AHSH committee. “This is our ninth school reunion and it is a special one, a historic one, because, today, we dedicate our historical marker. We have representatives from most of the graduating classes to carry the flags in the march to the school. For the other years, we have someone to symbolically carry the flag. We want every class to be represented on this momentous occasion.” Pike County Sheriff’s Office offering community child ID kits Print Article Sponsored Content By The Penny Hoarder The Penny Hoarder Issues “Urgent” Alert: 6 Companies… By Jaine Treadwell You Might Like FIREWORKS: Show lights up Troy University (PHOTO GALLERY) The Trojan statue at the Troy University football stadium is silhouetted in front of the fireworks show Friday night. The… read morelast_img read more

HFZ, Ziel Feldman sued for default on Upper East Side loan

first_imgShare on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Ziel Feldman with 150, 152 and 154 East 79th Street, and 1131 and 1135 Lexington Avenue (Getty, Google Maps)Another day, another lawsuit for HFZ Capital Group and its founder, Ziel Feldman.Great Neck, New York–based W Financial REIT is suing an affiliate of HFZ and Feldman for defaulting on a loan tied to five Upper East Side properties.W Financial REIT provided the $43.6 million loan in February for five properties: 150, 152 and 154 East 79th Street, and 1131 and 1135 Lexington Avenue. The lender alleges that Feldman, HFZ’s managing principal, personally guaranteed the loan.The suit, filed Tuesday in Nassau County Supreme Court, alleges that HFZ first defaulted on the loan in June and again in the following months. The lender alleges HFZ still has not repaid the loan.The lender is also seeking accrued interest and other fees in addition to the $43.6 million principal. In total, W Financial REIT aims to collect about $48.6 million.The Upper East Side acquisition was possibly part of an assemblage to build a larger development.HFZ had purchased the three properties on 79th Street in March 2020, having acquired the two Lexington Avenue sites in 2017 and 2018. The firm paid a combined $78.75 million for the five properties, records show.Neither W Financial REIT nor its attorney responded to a request to comment. HFZ also did not respond to a request to comment.The case adds to the growing list of lawsuits against the New York development firm and its founder.HFZ was once one of the city’s most prolific condo developers, but it has become entangled in liens and litigation. At its trophy project, the XI condo development in Chelsea, construction has come to a halt. And sources previously told The Real Deal that its lender, the Children’s Investment Fund, was in talks to bring on a new developer to finish the project.Feldman, who founded the firm in 2005, guaranteed a number of the loans financing HFZ’s projects. Many of these loans are now in default, leaving Feldman personally on the hook to cover the shortfalls.In the meantime, Feldman has been unloading his personal residences including one in the Hamptons, which fetched $50 million. Share via Shortlinkcenter_img TagsHFZ Capital GroupReal Estate Lawsuitsupper east sidelast_img read more

Patrice Evra trolls Arsenal fans as Robin van Persie retires from football

first_imgPatrice Evra trolls Arsenal fans as Robin van Persie retires from football Read More Top articles Robin van Persie hung up his boots on Sunday (Picture: Getty)Robin van Persie’s illustrious career came to an end on Sunday as he played for the last time with boyhood club Feyenoord.The Dutchman called time on his 18-year career at the very place in which it started with the Rotterdam club.Van Persie spent half of his career with Arsenal but ended his nine-year association with the Gunners in 2013 when he joined Manchester United in a controversial £22.5million move.The forward was tired of what he perceived to be ‘broken promises’ at the Emirates and he inspired United to their 20th league title in his debut campaign.ADVERTISEMENT Advertisement Read More by Metro Manchester United captain Harry Maguire Full Screen Video Settings 1/1 PLAY Read More Read More Read More Visit Advertiser website GO TO PAGE Man United 0-2 Cardiff: Solskjaer post-match press conferenceTo view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Play VideoLoaded: 0%0:00Progress: 0%PlayMuteCurrent Time 0:00/Duration Time 6:40FullscreenMan United 0-2 Cardiff: Solskjaer post-match press conference is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window. SPONSORED Advertisement About Connatix V67539 ‘I remember the first day you joined Manchester United I say at that time welcome to a man club,’ tweeted Evra.‘Well done Robin van Persie, thanks for 20 title what a player.’That’ll go down well in north London…MORE: Atletico Madrid believe Antoine Griezmann will join Barcelona this summer Rio Ferdinand tells Ole Gunnar Solskjaer to drop struggling / Comment Skip Ad That van Persie inspired United to their final title under Sir Alex Ferguson was particularly cruel for Arsenal fans, who stood by the Dutchman through some horrific injury problems. Van Persie spent three years at Old Trafford (Picture: Getty)But even then, Van Persie probably wasn’t the most hated figure at Old Trafford with Arsenal fans as he played alongside pantomime villain Patrice Evra.AdvertisementAdvertisementThe Frenchman grated on Gooners during a trophy-laden era at the Theatre of Dreams and once famously said United’s win against Arsenal in the Champions League was ’11 men against 11 children’.And the former France captain has been at it again in his retirement message for Van Persie, claiming the Dutchman joined a ‘man’s club’. 1 min. story Metro Sport ReporterMonday 13 May 2019 9:29 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link1.2kShares Coming Next Skip last_img read more