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  • We want to welcome everybody back to Las Vegas, he said

    We want to welcome everybody back to Las Vegas, he said

    We want everything to welcome the world back to Las Vegas, he said. US coverage more coronavirus Fortune: The listed companies have millions in cash loan PPP How to Home Depot and Lowes are preparing for their home Improvement busy season during the uncertainty coronavirus actions that will thrive after the coronavirus crash? Late payments are soaring, revealing the extent of the pain coronavirus on European companies 5 seasoned investors on how to approach the stock market coronavirus Forget the wet markets and bats: For scientists, failing environmental policies have created a boom time of epidemics is AI Goodman talked for weeks against Gov. Democratic better diagnose diseases that doctors? Do not believe all the hype PODCAST: Covid 19 could have changed the concept of the best companies of the year VIDEO: 401 (k) withdrawal penalties waived for harm anyone by Covid 19 Subscribe to home, a turn daily newsletter horizon stories about pandemic coronavirus and its impact on world affairs. The union said 11 of its members have a lot of dead Covid 19. Statewide, 187 people died from the disease and more than 4000 have tested positive. Workplaces must be healthy and not sure a petri dish, Geoconda Argello Kline, secretary-treasurer of the union, said. Las Vegas City Councilman Brian Knudsen said Goodman does not speak for all of us, and the reopening is now bold and quite contrary to the consensus majority of medical experts. I offered to be a control group and was told by our statistician you can not do that because people from all regions of Southern Nevada come to work in the city, Goodman said. Justin Jones, a Democrat who sits on the Clark County Commission, which oversees the band, called the mayor of an embarrassment. steve The politically independent mayor suggested that the virus for years were here and said she had suggested that the inhabitants of Las Vegas becoming a control group to see how closures of relaxation and restrictions would affect the city. Goodman, 81, was elected in 2019 for a term of third and last as mayor. She hesitated when asked if she would enter a casino reopened, saying she has a family and does not work and play is very busy. The mayor said Wednesday that if she wants casinos reopen, she gave no indication of how they could do it safely and maintain social distancing, saying, This is for them to understand, and I’m not a private owner. I will not allow citizens of Nevada, our Nevadans for use as a control group, as a placebo, all she wants to call, said Sisolak. Goodman, during a 25 minute interview with Anderson Cooper on CNN, said she wants to back open, including casinos, restaurants and small businesses, and return conventions. The governor responded to Goodman in an interview on CNN Wednesday night, in which he noted the state reported more deaths from the virus in the hours since the advent of television mayors. Sisolak postponed several times, saying he understands the economic damage of the order is at the origin, but saving lives is more important. Casino Culinary Workers Union, which represents about 60,000 bartenders, cooks, housekeepers and other employees, said Goodmans remarks were outrageous given the essential first line workers have been struggling with the consequences of this crisis first hand

  • Still, fintech companies were holding out hope that Congress would replenish PPP funding this week, and that the new bill would set aside a portion of the money for the type of lending in which fintechs specialize: loans of $50,000 or less, intended for the smallest of small businesses

    Still, fintech companies were holding out hope that Congress would replenish PPP funding this week, and that the new bill would set aside a portion of the money for the type of lending in which fintechs specialize: loans of $50,000 or less, intended for the smallest of small businesses

    Yet FINTECH companies hope that Congress replenish PPP financing this week, and the new bill set aside some money for the type of loan in which specialized fintechs: Loans $ 50,000 or less , for the smallest of small businesses. The good news is, lenders who approved SBA FINTECH last week are ready to hit running the floor and lend once the new PPP currency is released. The bad news is, the new currency can not even last a weekand the question remains as to the amount thereof, if any, will fintechs to lend. (BlueVine also received SBA approval be a PPP late Tuesday lender, but has yet to start making loans directly.) The new bill the Senate passed Tuesday, April 21 providing $ 310 billion in additional funding for PPP does carve $ 60 billion for the particularly small businesses. But like so many other aspects of the PPP programstarting with the hope that the loans would go to small businesses, as opposed to public enterprises Trump promises administrations do not materialize. Unfortunately, the program funds have been exhausted before we are able to accept applications, a spokesman OnDeck, major non-bank Nations Online small business lender, told me when I broke the news late last week. Because FINTECH lenders, unlike banks, do not take depositswhat Treasury Department called non-bank depositary institutionsthey not get any special recognition in this bill. money Announcing loans Paycheck Protection Programforgivable for small businessesin March, Treasury Secretary Steve Mnuchin promised that all FinTech lender will be allowed to make these loans. Indeed, the SBA has approved a group of FINTECH lenders, including OnDeck, to award PPP ready to end Tuesday, April 14, leaving only one day before the money dried upand not enough time to obtain necessary credentials from the SBA completely start paying. This creates something of a free-for-all for FINTECH lenders and small businesses they serve, forcing them to compete head-to-head with the big bankswho tend to lend to businesses at the larger end of the spectrumfor the remaining money, if this bill becomes law, as we expected it. But the loan companies exclude wording FINTECH makes all of this money: The bill specifies that these funds are reserved for depository institutions insured credit unions and community financial institutions to make loans. So far, the Small Business Administration had never authorized anyone but traditional banks to offer loans guaranteed by the government. As the SBAs funding for the program ran out last Thursday fintechs not actually made any loan directly to the PPP, according to Scott Stewart, CEO of the Association Platform innovative lending, an industry group for startups FINTECH . Regulatory Affairs Circle financing, a lender based FinTech U.K., told me last week

  • A new position in the C-suite Perhaps no greater signal of the environmental focus that now permeates the business world could have been offered than the presence in our event of dozens of chief sustainability officersa job title that did not exist 30 years ago, much less 50

    A new position in the C-suite Perhaps no greater signal of the environmental focus that now permeates the business world could have been offered than the presence in our event of dozens of chief sustainability officersa job title that did not exist 30 years ago, much less 50

    A new position in the C-suite can be no greater place environmental signal that now permeates the business could have been offered as the presence in our case of tens of sustainable development leader officersa job title that n ‘did not exist 30 years ago, much less 50. in the last 50 years. Even the challenge of leadership and energy-intensive industries arranged an image changing transformation that is underway. But despite the changes in attitudes over the last 50 years and the progress that has been made, the damage to the Earth continues. This week marks the 50th anniversary of the celebrations around the country and teach-ins environment that has come to be called Earth Day. A crowd present at the first celebration of Earth Day, the Fairmont Park in Philadelphia. In an equally dramatic turnaround from past decades, senior officials of major environmental groups like the World Wide Fund for Nature, Natural Resources Defense Council, Global Reporting Initiative, and the Board’s Accounting Standards Sustainable Development highlighted their work with businesses. (You can watch a recording of the summit here.) More important than the travel change and technology, we observed a marked change in tone. In this regard, Nobel economist Bill Nordhaus of Yale prizewinning told our top the best way to deal with climate change would be by carbon fillers of some kind.Calls like this were a common feature of environmental debates years.But broad support as the price of carbon among business leaders who spoke reflected a very new attitude in the business world. (Xinhua Photo / Michael Nagle via Getty Images) We see this trend intensified in the coming years. Both Wal-Mart and Trane HVAC manufacturer have launched initiatives to reduce Gigaton 1 billion tonnes of emissions by 2030. Armstrong Roberts / ClassicStock / Processor Getty Images) To commemorate this anniversary, Yale University’s School of Environment, School of management, and the common law faculty organized the summit Business Sustainability Yale. Today, no company can go ahead without a deep appreciation for what is necessary to maintain what management experts call its social license. In addition to these companies responsible for the environment, our Earth Day @ 50 event attracted an impressive number of government officials, engineers, scientists, public health experts, historians and professors, students, and others interested in evaluating the legacy of Dayand Earth to highlight how their fields would contribute to the mounting pushed societys challenges to address issues of sustainability. Dan Esty is a professor at Yale University Hillhouse and publisher of the recently published book better planet: 40 great ideas for a sustainable future. But the world is very different largely because TodayIn April 22, 1970, 20 million Americans took to the streets to demand a reduction in air pollution, improving water quality, and better waste management. One after another, the CEOs of major companies, including Alan Jope, Unilever, Darius Adamczyk Honeywell and Steve Voorhees ofWestRock, one of the country’s largest producers of packaging, explained how a focus on ‘sharpened their environment has helped companies reduce costs, reduce risk, increase sales and add value to their bottom line. While activism in the immediate aftermath of the original Earth Day led to the legislation on clean air, drinking water safer, toxic substances, surface mines and endangered species, the aim of the summit was whether and how business has changed. Jeff Sonnenfeld is senior associate dean and Lester Crown Professor of Management Practice at the Yale School of Managementand President of the Institute of Executive Leadership Yale chief. Pedestrians pass a card on Broadway street closures during Free Car Earth Day 2019 in New York, April 27, 2019. In closing the summit, Indra Nooyi, chairman and former CEO of PepsiCo, said: Maybe, just maybe we can emerge from this pandemic for the long term and more sustainable form of capitalism.We share that hope. focus Instead of seeing environmental issues regarding the conservation of land and industrial pollution control as a burden for companies, heads of business participants spoke of how environmental sustainability has become a key element of business strategy from day to day. Ralph Izzo, chief executive of the utility PSEG, discussed how his company has invested more than $ 2 billion in solar power and close to this amount in offshore wind, as well as significant investments in energy efficiency .Were trying to create a future in which customers use less energy, the energy they use is cleaner, that clean energy comes with a higher degree of reliability and resilience, and electricity is used to power the broader economy that power today, Izzo told the summit. During the last half century, leadership of American business has largely shifted its thinking on the environment, see the pollution and resource management for conflict and annoyance to recognize sustainability as a value strategic trade. They argued that the world needs to wake up to the environmental degradation and change his ways. Other companies are working to significantly reduce the amount of energy used in their industries. While NGOs continue to push for more ambition in their business partners, their continuing engagement with companies across the country showed that progress toward a sustainable future happen faster if the capacity for innovation and financial strength business world can be leveraged. Companies must therefore play an even more important role to work with the government to provide changes of transformation necessary to move society towards a clean energy future and a sustainable path more generally. At that time, most companies saw environmental issues as a secondary issue, or even an obstacle to theirreal business of manufacturing and selling goods for a prosperous nation. As Mike Lamach the ofTrane CEO, declared: Our belief is that a society can change an industry, and an industry can change the world. He is the author of the pioneering book sustainability of public company Interestand Views also Farewelland Heros Back Firing. Corporate America had become a constructive force in the last 50 years traveling the United States and the world towards a more sustainable future? Response wasyes consensus though with important qualifications. And sustainability has become part of the mission and culture of most companies, if not all. most companies have realized the need to be part of the solution to sustainability. Many summit participants expressed the hope that in the wake of the crisis Covid-19, there will be an increased willingness to take greater collective action on sustainable development. He has held various senior positions at the Environmental Protection Agency in 1980 and 1990 and as Commissioner Connecticuts Ministry of Energy and protection of the environment 2011 to 2014. Most companies have launched several initiatives related to sustainability are important investments in support of these efforts, and many starting new businesses focused on providing sustainable solutions to their customers. And it is true that today’s organizations of all types and sizes set the objectives of sustainable development, report on a series of measures to monitor progress and hold their leaders accountable for environmental performance. Initiatives to reduce waste and increase recycling companies that have bought into the concept of a circular economy and have set ambitious targets for reducing the amount of landfill waste, especially packaging. In this regard, we heard repeatedly of business leaders such as the chief executive of Boston Consulting Group Rich Lesser, as companies move quickly based on business models onshareholder primacy to the prospect that astakeholder recognizes obligations to employees, customers, suppliers and communities. Walmarts Jane Ewing who shared in 2018, the company supplied 28% of its operations with renewable energy and diverted 81% of its waste in landfills. We expect the public will demand an end to this emissionsor at least insist that the company pays for the damage it causes

  • Executives whipped through slides outlining investment plans that assumed Brent would remain at $60 a barrel. Three days later, the Saudi-Russia fight sent oil prices through the floor

    Executives whipped through slides outlining investment plans that assumed Brent would remain at $60 a barrel.

    Three days later, the Saudi-Russia fight sent oil prices through the floor

    Leaders whipped slides describing investment plans that assumed Brent remain at $ 60 per barrel. Three days later, the Saudi-Russian struggle has sent oil prices through the floor. A new frightening world had arrived, one where oil demand was projected to peak in the next two decades, as the external pressure surgednot only environmentalists and regulators, but also central banks and hedge fundsfor Big Oil to diversify in less carbon energy sources. This pressure had already begun to reshape the business strategy of the industry. The impact of the coronavirus crisis have raised the profile of renewable energy projects, both in the local power and the investment plans of the oil giants. Todays energy market carnage shows every sign of intensifying this low-carbon shift. The price plummeting oil changed the calculation of return on investment for oil executives and traditional investors. Major oil companies have scurried to entrench their stock tanked over; ExxonMobil announced in April some of the deepest cuts, pledging to ax 2,020 Capital expenditures 30% to $ 23billion. World oil consumption to which growth slowed for several years, will actually fall in 2020, the first drop-year since the global financial crisis, projects the International Energy Agency. But environmental projects because they usually sell their energy in many long-term contracts that are common in the oil industry, are at low risk. For the dressing, Total for 2020 would reduce its capital spending more than 20%, nearly triple its planned cuts in operating expenses, and suspend share buybacks. But a total thing would not do, Pouyann told his workers, reduce expenses of its new energy division, a unit that includes investments in solar, wind and batteries. And big oil long-term clean energy companies activities are relatively unaffected by the reduction in short-term business expenses because these cuts are aimed at reducing the amount of oil companies put on the market today suddenly falling prices. A wind farm near Palm Springs. Three days later, Patrick Pouyann, CEO of French oil giant Total, comes to its approximately 100,000 employees a video message on the rout of the energy that was no less blunt. As oil headed for its worst year in recent memory, solar and wind power plants remains strong, according to Wood Mackenzie. Robert AlexanderGetty Images Currently, the oil industry is reeling from a double blow: a surge of supply caused by the tightrope between Saudi Arabia and Russia, and the demand destruction in the midst of a probable recession triggered by the coronavirus. Chevron also rise, including a massive natural gas field off the coast of Australia, a technology called carbon capture and sequestration, which captures carbon dioxide and shoots the many approaching undergroundan scientists consider essential to the fight against climate change. The economic downturn caused by a virus, also highlights the competitiveness of renewable energyparticularly on electricity markets, where more and more oil companies decide they need to play. In many parts of the world, the demand for electricity fell. hardest hit will be the Permian Basin, a prolific oil zone and stepped covering western Texas and eastern New Mexico. The global crash fast forward 10 years power systems in the future, Fatih Birol, the IEA executive director, wrote in March 1 analysis, giving them suddenly levels of wind and solar energy that they would not have had otherwise without another decade of investment. One example is California, long a leader in green energy. renewable energy generators typically sell their power to the grid at prices below fossil fuel generators, because their energy, unlike fossil fuels, is lost if they use it. And that highlights the growing importance of improving the flexibility of gridswith energy technologies such as energy storageto accommodate more renewable supplies. Renewable energy projects do not cost sheltered from global economic shock. The result: This year, $ 2 billion Total devote its renewable energy and energy storage incursions represent approximately 13% from spendinga the companys capital that would once have been almost inconceivable for a producer of fossil fuels. zone Long before this crash comes the price of oil epic, the energy sector has been struggling with an existential threat in the long term. Some small businesses have started filing for bankruptcy, including Whiting Petroleum, producer once high-flying in the shale play Dakotafocused North Bakken. As has happened so often in the oil patch, the boom turned to bust. Assuming that oil stays at $ 30 for two years is certainly a case of stress that we need to have our arms. But Breber said Chevrons long-term plan to reduce its carbon intensity is largely intact. This has magnified the problem, sometimes the sun or wind particularly strong, renewable energy sources generate more power than California can use. Oil prices had collapsed, reducing the price by half from us, noted CEO visibly pale, speaking of the tower in total to a microphone, he grasped in his right hand, in the style of a talk show life coach. The industry hoped that mid-April agreement to curb production, especially by Saudi Arabia, prices would buoy. These declines had the effect of increasing the percentage of power in the markets thats provided by solar and wind energy, both because their fuel is free and because of production subsidies they get. Gone are the good old days, when oil consumption grew inexorably and nations and societies that controlled most of juice hit the juiciest profits. Downsizing by major producers Permian Exxon Mobil, Chevron and Occidental Petroleum suggest spending cuts in the basin this year a total of several billion dollars. Ken Winkles feel the crisis coming from his office in Pecos, Texas, the heart Permians. It has reduced the profit margins of many oil projects along the typical lower levels of renewable energy projects. The overall growth in sales of solar panels and wind slowed compared to recent levels torrid, such as factories, shipping and electricity demand take a break. Were just the beginning of slowdown, accident, whatever you want to call, he said. 447612200000 $ decline in the market value of shares of the S & P; 500 Energy sector, March 2 to 18 March 2020. So the reasonable conclusion that renewables are serving a higher percentage of the load they would otherwise be, Steve Berberich, CEO of the operator , tells me. But challenges remain underlying industry: the abundant supply and slowing demand growth. On March24, Chevron, are struggling to find its bearings, has announced it will reduce its capital expenditure budget in 2020 20% to $ 16 billion. They will also include layoffs. At Frances Total, leaders say that construction delays are likely for some solar and wind farms because the coronavirus related restrictions are waylaying workers. This slowdown is the most difficult of the industry has faced, Pierre Breber, Chevron CFO said. The reductions will in the short term half productionnearly come by slowing production in the Permian Basin. In mid-April, with the population states under the shelter orders on the spot, the demand for electricity during the week was down 5% to 8% below normal levels, according to the manager states the power grid, the California Independent System Operator. But he’s also realistic. When Chevron held its annual investor meeting in New York on March3 amid growing concerns about the coronavirus, he abandoned handshakes, prompting leaders and analysts greet with elbow bumps. The price of Brent crude, an international benchmark oil, cratered 52% between March3 and April1, and prices per barrel were languishing around $ 30s to mid-April. In March, in an early ominous indicator, the number of permits granted-rig drilling in the county was down 38% compared to February 2020 and 59% compared to March 2019. These plans include modernizing operations oil drilling to make them more energy efficient. Winkles, Executive Director of Economic Development Corp. Pecos, considers himself an optimist