Difference between revisions of "User:RahalMccall69"

Revision as of 23:35, 25 September 2014

@@@ DETROIT (AP) -- Detroit has reached a tentative deal to pay a key creditor 26 cents on the dollar, a move that that could clear the biggest hurdle in the city's plan to reduce its debts and emerge from bankruptcy protection, it was announced Tuesday night.A joint court filing Tuesday evening said that Detroit and the bond insurer Syncora Guarantee "have reached an agreement in principle" to settle the company's $400 million claim in the nation's largest-ever municipal bankruptcy case.Syncora spokesman Steven Schlein told The Associated Press the company would get 26 percent of what it's owed.The two sides said they need two days to complete the deal and ask Judge Steven Rhodes for a postponement of the bankruptcy case trial until Friday."If this agreement is finalized within this time period as we expect, it will profoundly alter the course of the proceeding and the litigation plan of the remaining parties," the filing said.Syncora attorney James Sprayregen told the AP <a href=http://capstone.edu.sg/clreplicashoes.php> Christian Louboutin Outlet Online</a> that the postponement request was "so that we can work through certain contingencies contained in the deal, including obtaining full resolution with Bank of America, UBS and other stakeholders.""We are hopeful the deal will be finalized in the next 48 hours," Sprayregen said.In response to a question from the judge last week, another Syncora lawyer had told the judge that <a href=http://capstone.edu.sg/images/guccioutlet.onlinesalecc.php>Gucci Outlet</a> he thought Detroit could afford to pay 75 cents on the dollar.Syncora Guarantee and fellow bond insurer Financial Guaranty Insurance Co. have been leading a small group of creditors fighting the plan by state-appointed emergency manager Kevyn Orr.The Associated Press left a message Tuesday night seeking comment from Orr spokesman Bill Nowling.Most creditors, including about 30,000 retirees and city employees, have endorsed Detroit's plan to cut $12 billion in unsecured debt to about $5 billion.Syncora has strongly opposed the terms, saying that Detroit's blueprint unfairly discriminated against financial creditors. Syncora and some other creditors have pushed for the city to look into the sale of assets, including city-owned pieces in the Detroit Institute of Arts.The threat to artwork prompted the creation of the so-called Grand Bargain -- commitments from the state, major corporations, foundations and others to donate more than $800 million over 20 years meant to soften cuts to city pensions while placing pieces in the DIA into a trust and out of the reach of debtor demands.Pensioners this summer voted in favor of Orr's plan, which calls for general retirees to take a 4.5 percent pension cut and lose annual inflation adjustments. Retired police officers and firefighters would lose a portion of their annual cost-of-living raise.For decades, Detroit paid its bills by borrowing money while struggling to provide the most basic of services for residents. The city, once fueled by the massive auto industry it gave birth to, shrank from 1.8 million <a href=http://www.alportico.net/gosoc.php>true religion jeans</a> people six decades ago to fewer than 700,000 now.The trial that began Sept. 2 is to help Rhodes determine whether to approve, modify or reject the city's financial reorganization plan.___Follow David N. Goodman at Copyright The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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-Retired Olympia businesswoman Hillary Joseph fits the description of a people-loving, extroverted world traveler. So it s no surprise that she voices unabashed enthusiasm for Friendship Force International.Friendship Force was <a href=http://www.alportico.net/prodotti/christianlouboutin-sale.jkmsw.php>Christian Louboutin Discount</a>  launched in the White House in 1977 by Presbyterian minister Wayne Smith with the full support of President Jimmy Carter as a nonprofit, cultural exchange group promoting peace through friendships. The Olympia chapter formed in 1984 and Hillary Joseph and her husband, Rocklin Perrott, joined the local chapter in 2007.Two or three times a year, a contingent of 20 or so visitors from Friendship Force chapters in the United States or foreign countries come to the Olympia area for weeklong home visits with Olympia chapter members, some 60 people. The guests pay their own travel expenses and an exchange fee charged by Friendship Force to cover the costs of mapping out the logistics of the visit.In addition, members of the Olympia chapter travel in groups to other chapter sites here and abroad. Olympia chapter members were among the first to visit a chapter in South Korea. That was in 1986.Joseph and Perrott have hosted families and individuals from Egypt, Indonesia, Japan, Mexico, Canada, the Netherlands, Azerbaijan and Texas. Some of their guests speak English. Some don t, including a fellow from Indonesia who sat down at the host family s piano and belted out a medley of Elvis Presley songs.The Olympia couple has yet to travel overseas to a Friendship Force family s home, but it probably won t be long before they do. They ve always been the kind of world travelers that immerse themselves in the local culture, staying at hostels or the home of someone they meet in the countries they visit. It s a great way to connect with human spirit in a way that isn t going to happen on a tour bus, Rocklin, 65, said.The global community that is Friendship Force included in 2011 more than 370 <a href=http://www.alportico.net/prodotti/christianlouboutin-sale.jkmsw.php>Christian Louboutin Discount</a>  clubs with roughly 18,000 members in 54 countries. That year, about 4,500 people participated in exchanges as traveling ambassadors, and many more served as hosts. Joseph said citizen ambassadors visiting Olympia from all over the world typically shower their host families with gifts, and love to bring pictures of their places back home. A common mistake among her guests: They think the Washington state capital city is Seattle.Joseph and other Olympia hosts quickly set the record straight by showing them the state Capitol in Olympia. The Temple of Justice on the Capitol Campus is another popular destination for visitors who want to see democracy in action, he said.Other favorite sites to visit in the region include Mount Rainier, Mount St. Helens, the Olympic mountains, the Olympia Farmers Market, the South Sound waterfront, Nisqually Wildlife Refuge and area historic homes and museums.Organizers attempt to match visitors with their hosts in ways that avoid obvious conflicts. For instance, they try not to pair smokers with non-smokers or people allergic to pets with pet owners. But a diversity of world views, religions and political persuasions is more common than not. I m Jewish and I ve had Muslims staying in my home, Joseph said. That s one reflection of the theme, the mission, the mantra of Friendship Force: Create a world of friends that expands into a world of peace.On Sept. 20, Friendship Force Olympia <a href=http://www.symbiose.ca/images/christianlouboutin.gwij.php>Christian Louboutin Outlet</a>  is sponsoring an evening with travel writer and Public Broadcasting Service travel show host Rick Steves at the Washington Center for the Performing Arts. The theme for the 7 p.m. talk is: Changing the Way You See the World. Joseph said the event s goal is to recruit new members to Friendship Force, not necessarily raise money.As with many nonprofit groups and private clubs, the membership is aging and in need of some younger members. Joseph knows that younger people are often too busy with their careers and families to find the time to travel overseas. But that s no reason for younger adults not to join Friendship Force, she offered. The beauty of Friendship Force is you can see the world without traveling by being a host, she said.For more information on the Olympia chapter and upcoming events, visit www.olympiafriendshipforce.org.
+DETROIT (AP) -- Detroit has reached a tentative deal to pay a key creditor 26 cents on the dollar, a move that that could clear the biggest hurdle in the city's plan to reduce its debts and emerge from bankruptcy protection, it was announced Tuesday night.A joint court filing Tuesday evening said that Detroit and the bond insurer Syncora Guarantee "have reached an agreement in principle" to settle the company's $400 million claim in the nation's largest-ever municipal bankruptcy case.Syncora spokesman Steven Schlein told The Associated Press the company would get 26 percent of what it's owed.The two sides said they need two days to complete the deal and ask Judge Steven Rhodes for a postponement of the bankruptcy case trial until Friday."If this agreement is finalized within this time period as we expect, it will profoundly alter the course of the proceeding and the litigation plan of the remaining parties," the filing said.Syncora attorney James Sprayregen told the AP <a href=http://capstone.edu.sg/clreplicashoes.php> Christian Louboutin Outlet Online</a>  that the postponement request was "so that we can work through certain contingencies contained in the deal, including obtaining full resolution with Bank of America, UBS and other stakeholders.""We are hopeful the deal will be finalized in the next 48 hours," Sprayregen said.In response to a question from the judge last week, another Syncora lawyer had told the judge that <a href=http://capstone.edu.sg/images/guccioutlet.onlinesalecc.php>Gucci Outlet</a>  he thought Detroit could afford to pay 75 cents on the dollar.Syncora Guarantee and fellow bond insurer Financial Guaranty Insurance Co. have been leading a small group of creditors fighting the plan by state-appointed emergency manager Kevyn Orr.The Associated Press left a message Tuesday night seeking comment from Orr spokesman Bill Nowling.Most creditors, including about 30,000 retirees and city employees, have endorsed Detroit's plan to cut $12 billion in unsecured debt to about $5 billion.Syncora has strongly opposed the terms, saying that Detroit's blueprint unfairly discriminated against financial creditors. Syncora and some other creditors have pushed for the city to look into the sale of assets, including city-owned pieces in the Detroit Institute of Arts.The threat to artwork prompted the creation of the so-called Grand Bargain -- commitments from the state, major corporations, foundations and others to donate more than $800 million over 20 years meant to soften cuts to city pensions while placing pieces in the DIA into a trust and out of the reach of debtor demands.Pensioners this summer voted in favor of Orr's plan, which calls for general retirees to take a 4.5 percent pension cut and lose annual inflation adjustments. Retired police officers and firefighters would lose a portion of their annual cost-of-living raise.For decades, Detroit paid its bills by borrowing money while struggling to provide the most basic of services for residents. The city, once fueled by the massive auto industry it gave birth to, shrank from 1.8 million <a href=http://www.alportico.net/gosoc.php>true religion jeans</a>  people six decades ago to fewer than 700,000 now.The trial that began Sept. 2 is to help Rhodes determine whether to approve, modify or reject the city's financial reorganization plan.___Follow David N. Goodman at Copyright The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- John Dodge: 360-754-5444

Difference between revisions of "User:RahalMccall69"

Revision as of 23:35, 25 September 2014

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