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Housing Market Update & Forecast Okanagan BC
Okanagan Real Estate | Housing Market Forecast 35 years ago I rode my bike across the Rocky Mountains and down into the Okanagan Valley where it was 112 F or 42 C. It was 90 miles of scorching heat but I loved the character of the region. An experience I won’t forget. I could see…
Incoming Atlanta Public Schools Superintendent Lisa Herring led a virtual town hall on June 18 to discuss the 2020-21 school year amid the ongoing COVID-19 pandemic.
Herring laid out three potential scenarios for the Aug. 10 reopening – traditional, virtual, and hybrid – and said a decision guided by public health data would be made by mid-July.
“Our top priority is the health and safety of the students, families, and employees,” Herring said, noting that the system would remain flexible as COVID-19 numbers fluctuate.
Under the traditional model, students would have face-to-face instruction time again at APS facilities. However, there will be required personal protection equipment for staff, limited class sizes, staggered scheduling, temperature checks at the door, and students would be required to wear a mask. Herring said APS would choose this model only if data indicates low or no spread of the virus.
If virus numbers remain high, the virtual option would continue online learning for all students and facilities would remain shuttered.
The hybrid model would be implemented if there in minimal to moderate spread of the virus, Herring said. Hybrid would mean students are in the classroom some days and learning at home on others.
Herring said parents could choose virtual for their students and they would remain enrolled in APS and identified with their home school. The system is also considering an expansion of its APS Virtual Academy, which is currently used for middle and high school students.
APS sent out survey to parents asking for feedback on the proposed models. The deadline to answer the survey is June 30. It can be accessed in English and Spanish at this link.
A second virtual town hall will be held Monday, June 22, 6:30 p.m. via facebook.com/AtlantaPublicSchools. It will be available in both English and Spanish.
The post Incoming APS superintendent discusses back-to-school scenarios in virtual town hall appeared first on Atlanta INtown Paper.
The Atlanta Police Department is seeking a man they say was involved in the killings of three homeless people this month. Some photos APD circulated of the man shows him at the Chamblee MARTA Station.
APD has described the suspect as a black male, approximately 5-feet-10-inches to 6 feet tall, and weighing 170 to 200 pounds. In the MARTA station images, he is wearing a dark ball cap, dark pants, and a blue T-shirt that appears to read, “Do you know what would look good on you? Me!” Another photo shows him wearing similar clothing except for a long-sleeved white shirt and a backpack.
APD says the three shooting deaths it believes to be connected all occurred within the city of Atlanta. They include: June 1, around 10:30 a.m., at Piedmont and Baker streets; June 11, around 5:30 p.m. at Whitehall Street where it passes over Ted Turner Drive; and June 15, around 8:55 a.m. at Pryor and Rawson streets.
Mayor Keisha Lance Bottoms previously said that homeless people should be on “high alert” for the suspect.
APD says the suspect should be considered armed and dangerous and should not be approached. Anyone with information should call 911 or make tips to Crime Stoppers of Greater Atlanta at (404) 577-8477 or the APD Homicide Unit at (404) 546-4235.
The post Atlanta Police seek suspect in murders of three homeless people appeared first on Atlanta INtown Paper.
This week, the Georgia Department of Labor (GDOL) launched the United States Department of Labor’s Pandemic Emergency Unemployment Compensation (PEUC) program. This program provides extended monetary support for claimants who have exhausted their regular state unemployment benefits. PEUC is part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020, which extends eligibility of unemployment benefits up to 13 weeks.
“Many people who applied for UI in the first weeks of our Covid-19 economic shutdown are rapidly approaching the end of their initial cycle of UI benefits. This program will give claimants who have exhausted their benefits the ability to continue to receive financial support for up to an additional 13 weeks,” said Commissioner of Labor Mark Butler. “In a crisis, such as COVID-19, programs like PEUC are necessary to ensure all claimants are taken care of, while continuing to get Georgians back to work.”
Claimants who are potentially eligible for PEUC are those who have received all of the unemployment benefits they are eligible for in their regular unemployment claim and whose benefit year ends after July 1, 2019. According to the CARES guidelines, the first payable week ending date (WED) of PEUC is April 4, 2020 and the final WED PEUC may be paid is December 26, 2020. For example, if a claimants benefits have run out and their final regular unemployment payment is for WED April 11, 2020, then their PEUC claim will be effective April 12, 2020. Their first potential PEUC payment would be April 18, 2020.
“Although programs like PEUC are essential, building these complex and multifaceted systems takes time and attention to detail,” Butler said. “Our Unemployment Insurance (UI) and Information Technology (IT) teams have been challenged with the unprecedented task of developing and executing these programs with extraordinary timelines. Our entire team has been amazing with their time and dedication to getting these programs created so that Georgians can receive benefits. As we receive further instruction from the USDOL on guidelines and regulations, we will continue to update our programs and keep our claimants informed on any changes.”
PEUC is only payable to individuals determined to have no further entitlement to receive regular unemployment benefits and must be paid prior to other state and federal programs, such as Pandemic Unemployment Assistance (PUA). Claimants are eligible to receive PEUC benefits for each week they request payment and continue to meet the eligibility requirements of being able and available to work. Claimants will need to do so online at dol.georgia.gov by selecting Claim Weekly UI Benefits Payment. Notifications have been sent to all claimants with instructions on what to do. Claimants who receive at least $1 in state or federal benefits, are eligible for the FPUC $600 weekly supplement and the payment will be issued after the weekly benefit payment.
“As we see the number of initial claims continue to decrease each week, my staff remains vigilant on processing large volumes of claims and works to implement further advancements with programs like PEUC,” Commissioner Butler said. “We can expect additional extensions of benefits in the future based on our unemployment numbers although our mission is to get Georgians back in the workplace.”
The GDOL announced today that $5,440,822,786 in state and federal benefits have been paid to claimants across the state during the past 12 weeks. This includes payments in regular state UI, PUA, and Federal Pandemic Unemployment Compensation (FPUC).
Weekly regular state UI initial claims totaled 135,254, down about 14,000 over the previous week. Of the weekly total, 85,244 (63 percent) were employer filed claims. Initial claims have declined five of the last six weeks.
Payments over last week totaled $156,742,002 in regular weekly unemployment benefits, down $4.1 million over the prior week. Since March 21, over $1.4 billion has been paid in regular state UI benefits.
The number of initial unemployment claims filed throughout the United States was 1,542,000, a decrease of 355,000 from the previous week’s revised level of 1,897,000.
Over the past 12 weeks, the sectors with the most regular UI initial claims processed included Accommodation and Food Services, 625,213, Health Care and Social Assistance, 288,476, Retail Trade, 283,126, Administrative and Support Services, 204,925, and Manufacturing, 191,135.
Last week, the GDOL issued over $103 million in PUA payments to individuals who are self-employed, gig workers, 1099 independent contractors, employees of churches, employees of non-profits, or those with limited work history who do not qualify for state unemployment benefits. From week ending 3/21/2020 through 6/6/2020, 179,003 PUA claims have been processed and are eligible for payment.
In addition, the total federal funds issued for FPUC totaled over $589 million last week. Over the past 12 weeks, the GDOL has issued more than $3.6 billion in FPUC funds. FPUC provides an additional $600 weekly payment to any individual eligible for any of the unemployment compensation programs – state and federal.
As of June 9, the Georgia Unemployment Insurance Trust Fund Balance was $1,466,628,378, down $1.08 billion, or 42 percent, from the balance of $2,547,476,454 on March 24.
“Our IT teams have been challenged with creating these new programs, while at the same time trying to address the claims still under determination,” said Commissioner Butler. “We are working diligently to address claims still outstanding from earlier months, but many of these claims have various stops and must be worked manually which takes time to research and process.”
The GDOL is continuing to work with employers to announce job opportunities that are critical during this crisis – some in the workplace and others that can be done from home. Today, over 96,000 jobs are listed online at EmployGeorgia.com for Georgians to access. The GDOL offers online resources for finding a job, building a resume, and assisting with other reemployment needs.
At this time, the GDOL career centers are remaining closed to the public. All online services are still available as the staff continues to answer phones, return emails, and assist applicants. The
GDOL will open offices to the public as soon as social distancing can be effectively implemented to protect both staff and customers.
Information on filing an unemployment claim, details on how employers can file partial claims, and resources for other reemployment assistance can be found on the agency’s webpage at dol.georgia.gov.
United Community Bank has announced they are reopening lobbies for select branch locations across their four-state footprint, effective this week. United closed its lobbies on March 24 in response to CDC recommendations to limit the spread of COVID-19. Since that date, all branches have operated a drive-thru service model with appointment-only lobby service.
Beginning Wednesday, June 17, more than thirty branch lobbies in North Carolina, Georgia and Tennessee will reopen, with specific safety measures in place to protect employees and customers. These initial branches represent Phase 1 of the lobby reopening for United. Other branch locations will follow in the weeks to come and an up-to-date list of current branch operating status is available at ucbi.com/coronavirus. United opened five branch lobbies the week of June 8 to test preparedness and gauge sentiment from customers and employees.
“Our goal is always to take care of our employees and customers and that includes taking precautions for everyone’s safety,” said Keri Wise, Head of Retail Sales. “We recently surveyed our customers to understand their expectations for in-branch banking in our new pandemic normal. We were pleased to find out that the majority of respondents said they look forward to banking in our branches as soon as we reopen our lobbies.”
United also surveyed employees to learn of any concerns about reopening the lobbies. After reviewing the feedback from both customer and employee surveys, United has taken the following precautions:
Installation of protective shields for desks and counters.
Increased signage to promote physical distancing and other safety measures.
Increased cleaning frequency and supplies at all locations.
Limited customer capacity in lobbies.
“We are taking a phased approach to reopening our lobbies so that we can consider any feedback from Phase 1 and potentially incorporate that into our subsequent lobby re-openings. I am so grateful for our United employees who, throughout the last several months, have been committed to helping our customers navigate these unusual times,” said Wise. “Now, we are happy to welcome our customers back into our lobbies and reconnect with them. Today, more than ever, it is important for our customers to know that we are a trusted resource to help them with their financial needs.”
Customers are encouraged to use drive-thru and ATM services when possible to continue practicing physical distancing. Learn more about United’s plans to keep customers and employees safe in this video.
Neenah, Inc. (NYSE:NP) announced today that the Company is seeking to refinance its $175 million of unsecured Senior Notes which are due in May 2021. The Company anticipates refinancing the Notes with the proceeds of a new $200 million Term Loan B facility with a tenor up to seven years.
The objectives of the refinancing are to increase the Company’s financial flexibility and extend its weighted average debt maturity. Terms of the potential refinancing will be disclosed upon the completion of the transaction, which is expected later this month. The proposed refinancing is subject to market and other conditions, and there can be no assurance that it will be completed.
In conjunction with the intended refinancing, the Company is providing an update on expected second quarter results. Key items are as follows:
Year-on-year net sales are expected to decline at the top end of the 30 to 40 percent range indicated on the Company’s last earnings call. The decline in net sales for the first two months of the second quarter was 41 percent, with Technical Products net sales down 32 percent and Fine Paper & Packaging net sales 53 percent lower.
While market conditions remain fluid, sales comparisons appear to have begun to improve modestly in June with the reopening of global economic activity, and are expected to further improve in the second half of the year.
To manage inventories and costs in line with the lower sales, the Company is taking additional manufacturing downtime and has implemented further spending reductions. The negative impact on operating income in the second quarter from the added downtime, due primarily to unabsorbed fixed costs, is approximately $4 million.
Liquidity at the end of May of approximately $190 million remained in line with expected levels and cash from operations in the second quarter is expected to be robust due to careful control of working capital.
In light of the global macroeconomic uncertainties brought on by the COVID-19 pandemic, the Company has begun to analyze the carrying values of its assets and to assess whether non-cash adjustments may be required to write down the value of certain of these assets in the course of preparing financial statements for the second quarter.
The Company will provide further details during its earnings call in August.
“Coupled with our previously announced measures, the actions we’re taking in the second quarter will allow us to enter the second half of the year with an improved cost position and a stronger balance sheet,” said Julie Schertell, Chief Executive Officer. “The strength of our business was evident in the first quarter, and I’m confident that as the economy recovers, Neenah will be well-positioned to resume executing our growth strategies. The planned refinancing of our debt provides added flexibility and will allow us to pursue opportunities that can increase our long-term growth rate, while maintaining a prudent financial position.”