Journalist loses accreditation over report about Tajikistan’s president

first_img Follow the news on Tajikistan Anushervon Aripov (Screenshot Nastoyachee Vremia) Tajikistan imposes total control over independent broadcast media Organisation July 15, 2020 Find out more RSF_en Reporters Without Borders (RSF) condemns Tajikistan’s refusal to renew the press accreditation of a journalist who suggested President Emomali Rahmon began his reelection campaign prematurely. This is censorship, RSF says, calling on the authorities to guarantee press freedom in the run-up to the presidential election.The victim is Tajik journalist Anushervon Aripov, the correspondent of Nastoyashee Vremia (Current Time), a Russian-language TV broadcaster operated by Prague-based Radio Free Europe/Radio Liberty in cooperation with Voice of America. After voicing discontent about a report by Aripov broadcast on 3 August, the Tajik foreign ministry failed to renew his accreditation, which had expired on 1 August.Aripov reported that, although no date had yet been announced for the presidential election, President Rahmon had already began campaigning and was conducting visits to various parts of the country that were receiving a great deal media coverage.Aripov’s report painted a rather unflattering portrait of the president, showing him visiting a family in the western district of Rudaki. He was seen at the head of a table piled high with food, apparently eating, while his hosts wore masks and sat without moving, their right hand held over the heart in a sign of respect.“Denying accreditation is a classic method of censoring foreign media,” said Jeanne Cavelier, the head of RSF’s Eastern Europe and Central Asia desk. “But it violates the provisions of paragraph 21 of Tajikistan’s current accreditation regulations. We condemn the use of such methods and we ask the authorities to respect the freedom to inform of correspondents working in Tajikistan.”This is not the first time that the Tajik foreign ministry has obstructed journalists working for foreign media outlets. The ministry is very stingy with accreditations and is currently holding up those of eight journalists with Radio Ozodi, the Tajik service of Radio Free Europe/Radio Liberty.Other Radio Ozodi journalists have been given accreditation for only a few months, which is contrary to Tajik legislation. In 2016, Radio Ozodi journalists were stripped of their accreditation after reporting that President Rahmon’s daughter had been given a position in the foreign ministry.On 6 August, the Tajik parliament set a date for the presidential election – 11 October. Tajikistan’s ruler since 1992, President Rahmon has not yet officially confirmed that he is running for reelection. A 2016 constitutional amendment scrapped presidential term limits.Tajikistan is ranked 161st out of 180 countries in RSF’s 2020 World Press Freedom Index. News #CollateralFreedom: RSF unblocks eight sites censored during pandemic Campaigns to go further Receive email alerts News News May 14, 2021 Find out more August 25, 2020 Journalist loses accreditation over report about Tajikistan’s president Help by sharing this information TajikistanEurope – Central Asia Events Freedom of expression November 6, 2020 Find out more Statement in support of the mandate of the OSCE Representative on Freedom of the Media TajikistanEurope – Central Asia Events Freedom of expression last_img read more

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Pasadena Deltas Present a “Celebration of Excellence”

first_img Name (required)  Mail (required) (not be published)  Website  Community News Your email address will not be published. Required fields are marked * Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. On Saturday, May 17, 2014, the Altadena Senior Center was filled with community members, elected officials, school personnel, family and friends as the Pasadena Alumnae Chapter of Delta Sigma Theta Sorority, Inc. hosted its annual reception in honor of the 2014 Academic Award Recipients. The room was uniquely decorated with jasmine centerpieces, setting the stage for the program, which was opened by President Ellen Ligons. The invocation was given by Chaplain, Esther Watkins and Congresswoman Judy Chu presented a certificate of commendation to the Pasadena Alumnae Chapter for outstanding work in the community. A motivating keynote address was delivered by Mr. Tyron Hampton, Pasadena Unified School District Board of Trustees Juanda Scoggins, Academic Awards Committee Member introduced Mr. Hampton.Denise Jones, Academic Awards Committee Chairperson, presented awards, in the amount of $1,000 each, to the following deserving and accomplished students: Jane Strong-Moses & Jesse Moses Commemorative to Colleen Thaxton – , Marshall Fundamental Secondary School Houlemard Family to Renaissance Forster – LaSalle High School, Mabel Lockett Martin Commemorative to Brenden Dickerson – John Muir High School, Carolyn Edwards Jones Commemorative to Simone Abegunrin – Polytechnic High School, Gwendolyn & Tommy McMullins Family to Ah’Shirae Arana – Pasadena High School, , Anita Johnson Cole Commemorative to Chelsea Larsuel – Mayfield Senior School, Willie Mae Hooks Lewis Commemorative to Lance Wyndon – John Muir High School, Nelle Kigh Thompson Commemorative to Jorden Tyler – Pasadena High School, Jean & Clarence Mills Family to Cheyenne Smith – Marshall Fundamental Secondary School and Presidents’ Commemorative to Alexandria Myers – John Muir High School. Pyramid Academic Awards, in the amount of $500 each, were presented to Kayla Johnson – Pasadena High School and Alexandra Hicks – Maranatha High School. Three of the 2013 Academic Award Recipients; Kai Grayson, Marissa Johnson and Trinity Skinner, attended the reception and gave insights on their experiences during the first year of college to the upcoming freshman students.Certificates of commendation were received by each award winner from the office of Mayor Bill Bogaard, Supervisor Michael Antonovich, Assemblyman Chris Holden, Senator Carol Liu and Congresswoman Judy Chu.The Pasadena Alumnae Chapter of Delta Sigma Theta Sorority, Inc. has given over $420,000 in academic awards to worthy students for the pursuit of post secondary education over the last fifty years. In addition to educational development, the Pasadena Alumnae Chapter has provided services in the areas of economic development, physical and mental health and political and international awareness/involvement since its chartering on January 27, 1961.The Academic Awards Committee consists of Denise Jones – Chair, Christina Bentley, Martinique Brown, Joyce Cox, Johari DeWitt-Rogers, Nicci Gorham, Dianne Lewis, Lindsey Malcom-Piqueux, Gwendolyn McMullins, Kathy Pentecost, Juanda Scoggins, Rayne Stewart, Alma Stokes, Esther Watkins and Sylvia Wiggins. Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Gatherings Pasadena Deltas Present a “Celebration of Excellence” From STAFF REPORTS Published on Tuesday, May 27, 2014 | 11:11 am EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena Community News Top of the News center_img Make a comment First Heatwave Expected Next Week faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes More Cool Stuff 7 recommended0 commentsShareShareTweetSharePin it Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy HerbeautyIs It Bad To Give Your Boyfriend An Ultimatum?HerbeautyHerbeautyHerbeauty10 Of The Most Notorious Female Spies In HistoryHerbeautyHerbeautyHerbeauty6 Strong Female TV Characters Who Deserve To Have A SpinoffHerbeautyHerbeautyHerbeautyThis Trend Looks Kind Of Cool!HerbeautyHerbeautyHerbeautyInstall These Measures To Keep Your Household Safe From Covid19HerbeautyHerbeautyHerbeautyNow She’s 19 – Look At Her Transformation! Incredible!HerbeautyHerbeauty Subscribe Business Newslast_img read more

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Limerick City Quays project wins Engineers Ireland Award

first_imgTwitter BusinessNewsEnvironmentLimerick City Quays project wins Engineers Ireland AwardBy Staff Reporter – November 9, 2016 1159 Advertisement WhatsApp Email Facebookcenter_img ENGINEERING experts have awarded the City Quay’s project in Limerick the ‘Local Authority Engineering Initiative Award’ at this year’s Engineers Ireland Awards.The annual awards recognise and celebrate significant and important engineering works undertaken around the country.Sign up for the weekly Limerick Post newsletter Sign Up The City Quay’s project has resulted in a high quality waterside environment for public use and enjoyment of the River Shannon, as well as a unique setting for the on-going revitalisation of the city centre.The project was undertaken by Limerick City and County Council at a total cost of almost €5 million, with part-funding secured through Fáilte Ireland under the NDP (2007–2013) Tourism Infrastructure Programme.The development saw the upgrading of Bishop’s, Howley’s, Honan’s and Harvey’s Quays as well as Lower Cecil Street, Shannon Street and Lower Mallow Street in Limerick city centre.The Project Managers were Lawlor Burns and Associates; Nicholas de Jong Associates were the Urban Designers and the Engineers on the project were O’Shea Consulting. The contractors were L&M Keating Ltd.Vincent Murray, Senior Engineer with Limerick City and County Council told the Limerick Post this week, ”We are delighted that the project has been recognised by Engineers Ireland. It was a complex project carried out on a street that had to be kept open for business. The project had several outcomes which had to be kept in mind. As well as being a wonderful amenity for the people of Limerick to enjoy, it also had and is acting as a catalyst for further investment in the city centre.” Linkedin Previous articleLimerick native Colin Peirce joins UL Hospitals Surgeon teamNext article#newmusic #musiclimerick – Paddy Mulcahy – ‘Twenty Six’ Staff Reporterhttp://www.limerickpost.ie Printlast_img read more

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Stocks open lower on Wall Street, Treasury yields climb

first_img Twitter Screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won are seen at the foreign exchange dealing room in Seoul, South Korea, Thursday, Feb. 18, 2021. Shares were mostly lower in Asia on Thursday after a mixed session on Wall Street as losses by technology and industrial companies offset other gains. Pinterest Local NewsBusinessUS NewsWorld News Pinterest Facebook By Digital AIM Web Support – February 18, 2021 TAGS  center_img Previous articleGlobal Fingerprint Sensor Market Report 2021: Trends, Forecast and Competitive Analysis 2013-2024 – ResearchAndMarkets.comNext articleSoccer official wants Champions League entry shared wider Digital AIM Web Support Facebook Twitter WhatsApp WhatsApp Stocks open lower on Wall Street, Treasury yields climblast_img read more

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Major fire at old St Mary’s Youth Club site in Creggan

first_img Google+ Twitter By News Highland – March 17, 2019 Pinterest WhatsApp DL Debate – 24/05/21 News, Sport and Obituaries on Monday May 24th WhatsApp Harps come back to win in Waterford Arranmore progress and potential flagged as population grows Important message for people attending LUH’s INR clinic Previous articleNFL: Tyrone beat the Dubs in Croke Park to move up Division 1 tableNext articleTwo arrests in Greysteel robbery investigation News Highland center_img Facebook Twitter Loganair’s new Derry – Liverpool air service takes off from CODA Homepage BannerNews Facebook RELATED ARTICLESMORE FROM AUTHOR Police in Derry are investigating a major fire at the site of the old St Mary’s Youth Club in Creggan Derry last night which its believed was started deliberately.Local Councillor Kevin Campbell, who visited the site last night, says he’s been raising concerns about security around this entire site since the demolition started.That concern rose, he says, when it emerged there was asbestos in the roofspace in one part of the building.Just last week, Cllr Campbell says, he spoke with the various agencies and and also with local residents about the issue, while also urging parents to ensure that their children were kept away from the site.He says he and a number of others visited the building at 6 o’clock last evening after reports that young people had been in there. By the time they got there, the people had left, and at 9, a major fire was reported.Cllr Campbell says there must be a concerted effort to keep the building secure, and have it demolished as safely and as quickly as possible. Major fire at old St Mary’s Youth Club site in Creggan Google+ Pinterestlast_img read more

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FOOTBALL 101: From fashions to playmakers, ladies learn the ins and outs of the game during Troy University event

first_img Plans underway for historic Pike County celebration Print Article Remember America’s heroes on Memorial Day Book Nook to reopen Latest Stories “Most of the women who attend are fans of Trojan football so they know about the game on the field,” Mason said. “But the idea of the clinic is for the women to come to the field house and see what goes on behind the scenes. They get to see the facilities, including the weight room and the equipment room. They attend a chalk talk about the game and even go through some practice drills. They have a lot of fun learning the game and all that it involves.”More than 100 women from the Pike County community participated in Troy University’s Football 101 event this week. The women’s clinic gives participants a chance to view the game of football in a different way. PHOTO BY JOEY MEREDITHAt the encouragement of a friend, Lauren Hager attended Troy Football 101 for the first time.“My friend had a good time and thought I would enjoy the clinic,” Hager said. Published 3:00 am Saturday, July 23, 2016 More than 100 women from the Pike County community participated in Troy University’s Football 101 event this week. The women’s clinic gives participants a chance to view the game of football in a different way. PHOTO BY JOEY MEREDITHMove over men, the ladies are taking the field and they are game ready.More than 100 ladies participated in Troy Football 101 Women’s Clinic Thursday at Tine Davis Field House. So, when the 2016 season kicks off, the ladies will view the game of football in a different way and with greater appreciation than ever before.Hannah Mason, Troy University Development and Special Events, said the Troy Football 101 Women’s Clinic has continued to grow in size and scope since it was first introduced four years ago. Troy falls to No. 13 Clemson The Penny Hoarder Issues “Urgent” Alert: 6 Companies… “I know enough about football to enjoy the game. But I thought there was a head coach and a few assistants and that was it. I had no idea that there was an entire coaching staff. There are coaches that replay videos and coaches for certain players and for special teams and strength coaches and nutrition coaches. And it takes all of them working together to get the team ready to play. I just didn’t know that so much went on behind the scenes.”Hager was also surprised that the game of football requires such a great amount of dedication from the players.“Playing football is like having a part-time job or really a fulltime job and going to college at the same time,” she said. “It takes a real commitment from the players to practice and play and keep up their grades.”Hager said she appreciated the opportunity to meet some of the players and put a face on them rather than just a number on the field.center_img The coaches put the 2016 Troy Football 101 class through some pass and catch drills but Hager was busy preparing models for the game-day fashion show.Hager’s boutique, The Little Ivory Shoppe, and Glow and Posh & P Boutique presented a fashion show that featured football attire for Troy University football fans.“We showcased dresses and tank tops in Trojan colors that would be fashionable for the beginning of football season when the weather is still warm, or even hot,” Hager said.The Troy University Trojans’ 2016 football schedule includes six home games, so this season will be a good time for Trojan fans to be more in the know about football.. and 100 of them will be graduates of 2016 Troy University Football 101. Email the author You Might Like Trojans earn Sun Belt honors Troy senior offensive lineman Antonio Garcia and senior defensive end Rashad Dillard were named to the All-Sun Belt Conference Preseason… read more Sponsored Content Around the WebIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier LivingMd: Do This Immediately if You Have Diabetes (Watch)Blood Sugar BlasterHave 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 Pike County Sheriff’s Office offering community child ID kits By Jaine Treadwell FOOTBALL 101: From fashions to playmakers, ladies learn the ins and outs of the game during Troy University event By The Penny Hoarderlast_img read more

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Outrage grows over ‘disburbing’ video showing New York police ripping baby from mother’s arms

first_imgtzahiV/iStock(NEW YORK) — New York City police officers are coming under fire after a “troubling” video surfaced showing them ripping a baby from the arms of a mother who had waited at a social services office for four hours seeking help, police and the woman’s relatives said.Jazmine Headley, 23, was arrested on charges of resisting arrest, committing an act in a manner injurious to a child, criminal trespass and obstruction of governmental administration, according to the NYPD.A judge also issued a restraining order against her barring her from coming near her baby.Headley was booked into the Rikers Island jail pending a court hearing on Thursday.“The video, obviously, is disturbing. It’s very disturbing to me,” Commissioner James O’Neill of the New York Police Department said Monday afternoon. “I’m a dad. I have two kids. But being a cop is a really difficult job.”O’Neill said an investigation of the incident has been launched by the NYPD and Steven Banks, commissioner of the city Human Resources Administration.“We’re trying to get as much video as we can,” O’Neill said. “We’ve got to see what led up to the incident. What were the actions of the people from HRA? What were the actions of our police officers?“We do get called to HRA facilities now and again,” he said. “We have to figure out the protocols and work with HRA to figure out a better way to do things.”Headley’s mother, who witnessed the arrest, claims city Human Resources Administration security guards and police officers were in the wrong and responsible for letting the incident escalate into pandemonium.“I was devastated to see something like that happen to my daughter and grandson,” Headley’s mother, Jacqueline Jenkins, told ABC New York station WABC-TV.The office was crowded and there were no seats available when she and her Headley arrived, Jenkins said. She said her daughter sat on the floor with her 1-year-old son, Damone, to keep him calm.Brooklyn Borough President Eric Adams, a former New York City police captain, said at a news conference Monday outside the social services office that the “horrific” incident should have never happened.“We are better than the images we witnessed over the weekend,” Adams, a former New York City police captain, said. “This should be a place where families come to regain their dignity and respect instead of having it ripped from them.”He demanded a full investigation by the NYPD and that all charges be immediately dropped against Headley.“Something’s terribly wrong when the most well-trained police department can’t resolve a dispute with a mother and child without looking like the President’s southern border strategy. We must do better,” Adams said, referring to the Trump administration’s practice of separating children from parents caught illegally crossing the border.City Council Speaker Corey Johnson said in a tweet that the video as heartbreaking and “hard to watch.”“This is unacceptable, appalling …,” he wrote. “I’d like to understand what transpired and how these officers or the NYPD justifies this.”NYPD officials said in a statement that they were called to the city Human Resources Administration office in Brooklyn just before 1 p.m. on Friday.“The NYPD was called after office staff and HRA peace officers made unsuccessful attempts to remove this individual from the facility due to her disorderly conduct towards others, and for obstructing a hallway,” police said in a statement.Lisa Schreibersdorf, executive director of Brooklyn Defender Services, said her office has assigned an attorney to represent Headley. She said the woman went to the social services office to determine why daycare vouchers for her child were suddenly cut off.She said Headley took a day off from her job as a security guard in hopes or resolving the daycare problems. She said Headley had been waiting at the office for four hours before the police were called on her.“When people come to this office, they are here because they are in crisis,” Schreibersdorf said. “Instead, they escalated the situation by bringing the police department in.”Both Adams and Schreibersdorf said the incident could have been avoided had officials at the office just went and found a chair for Headley or spoke to her calmly.Jenkins said the HRA guards told her daughter she could not sit on the floor because she was blocking a hallway. When she refused to stand, a supervisor called the police, she said.A cellphone video taken by Nyasia Ferguson, one of several taken by people who were also waiting at the office, shows at least three NYPD officers, including a sergeant, on top of Headley, who refused to let her child go.“They’re hurting my son! They’re hurting my son!” Headley is heard screaming in the video.One officer appeared to grab Damone and yank hard several times in an attempt to remove him from Headley’s arms. A crowd of people gathered around the officers yelling for them to stop and attempting to explain that Headley had not been bothering anyone.At one point, an officer is seen in the video pulling out a stun gun and appearing to point it at the crowd, ordering people to step back. The officer also appeared to point the stun gun at Headley, but it was never deployed, the video shows.“I was just disgusted and scared,” Ferguson told WABC. “I thought the cops [are] supposed to help you — they just straight up came and attacked the lady.”Police were eventually able to wrest the baby away and place Headley under arrest. The city Administration for Child Protective Services was initially called in to take custody of the child, who was later turned over to Jenkins.The NYPD called the incident “troubling” and said the encounter was “under review.” The statement said the review will include all available video that captured the incident.The Brooklyn District Attorney’s Office was also conducting an investigation of the incident. A spokesperson for the district attorney said prosecutors do not plan to proceed with the charges against Headley.Headly was being held on an unrelated warrant from Mercer County, New Jersey, Schreibersdorf said.The Brooklyn District Attorney’s Office said it was reaching out to New Jersey authorities on behalf of Headley “to expedite her release.”Police officials said the HRA guards were the ones who initially took Headly to the floor when she refused to leave.“NYPD officers then attempted to place her under arrest. She refused to comply with officers’ orders, and was then taken into custody,” according to the NYPD statement.Police said no one was hurt in the confrontation.Copyright © 2018, ABC Radio. All rights reserved.last_img read more

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Gurkhas set to take Government to the High Court

first_imgGurkha soldiers from Nepal have won the right to take a case alleging racialdiscrimination against the British Government to the High Court. The Gurkhas are claiming discrimination in at least 20 different areas –including pay, pension, religion, dress code and living conditions – whileserving with the British Army. In May, lawyers for the soldiers filed fordamages at the High Court in a claim, which if successful, could cost the MoDup to £2bn. Phil Shiner, a solicitor with the Public Interest Lawyers group, which isacting for the Gurkhas, told Personnel Today a decision from the High Courtcould be made before Christmas. The Gurkhas are to present 20 test cases, and claim that 30,000 Nepaleseretired from service without the pensions they should have received, and thatwidows were not properly compensated for their loss. The case is to be arguedby Prime Minister Tony Blair’s wife, Cherie Booth. Gurkhas set to take Government to the High CourtOn 3 Sep 2002 in Personnel Today Comments are closed. Related posts:No related photos. Previous Article Next Articlelast_img read more

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Family offices are gearing up to pounce on distressed real estate

first_imgHaving learned from missed opportunities a decade ago, family offices are strategically looking for distress opportunities in real estate (iStock)The world was still feeling the aftershocks of America’s subprime mortgage crisis when Julien Haccoun landed his MBA and became a principal of his family office in South Florida. The country’s unemployment rate was stuck at about 9 percent, and the housing market had yet to recoup.Rather than returning to his native France after graduating in 2011, Haccoun moved into his family’s second home in Miami, where he witnessed hundreds of properties being sold off in foreclosure auctions on a weekly basis.Seeing an investment opportunity, he and his brother, Adrien, raised money from their family, developed software to analyze potential deals and spent about $30 million buying up distressed condos in South Florida. Those assets turned into rental properties, which they still manage today.“It was really an amazing investment,” said Haccoun, who studied entrepreneurship at the University of Chicago Booth School of Business. He noted that the condo units would be worth about four times more if he were to sell now.Julien Haccoun, Steinmauer FamilyThat was a key entry point for the Steinmauer Family, a french family office founded by Julien’s father, David, who made his fortune when he sold his computer memory company to a Chinese conglomerate in 2009. Steinmauer, the last name of another family member, was chosen to help maintain privacy. Over the past decade, the family’s real estate investments have grown to about 50 percent of its holdings.Haccoun declined to give the total value of Steinmauer’s portfolio, which also deploys money through private equity, venture capital and the stock market.Family offices, private entities that manage the financial affairs of the high-net worth, have been allocating a larger chunk of their money to real estate in recent years, according to financial data provider Preqin.On average, their share of investment in real estate — including residential, industrial, office, hotel and retail assets as well as raw land — has grown to more than 20 percent this year, up from about 12 percent in 2015. For comparison, the share of family office investment in natural resources, which was at more than 10 percent five years ago, fell to 5.4 percent in 2020.“From a contrarian perspective,” few took advantage in the wake of the Great Recession, said DJ Van Keuren, of Evergreen Property Partners, who specializes in family office real estate investments. “They were sitting on the sidelines,” he noted.Now with the pandemic and economic downturn taking their toll on real estate, many family offices are looking for a fresh chance to buy at steep discounts. In hindsight, family offices realize “that they missed out on some really good opportunities,” Van Keuren said. “They haven’t forgotten that memory.”This time, however, residential properties are far from the cause or conundrum, leading some to approach with caution.Private family affairsAs of last year, there were more than 7,000 single-family offices, serving one family per business entity, overseeing total assets valued at $5.9 trillion globally, according to an estimate by the advisory firm Campden Wealth.“There has been significant growth in the family office space over the last decade,” said Rebecca Gooch, Campden’s director of research, who added that the number of family offices in North America alone rose by more than a third between 2017 and 2019 and now sits at roughly 3,000.But because they are loosely regulated and tend to keep their dealings very private, the exact number of family offices is hard to quantify. In the U.S., for example, most are not required to register with the Securities and Exchange Commission, as long as they limit their financial advice to their own family clans.Family offices also come in various shapes and sizes, and understanding them has become increasingly vital for brokers, asset managers and other real estate players as the sector grows.Dan Bsharat of the Westchester-based real estate investment firm Hudson Hill Partners said family offices are starting to play a more essential role as they invest more directly in properties. And many of them are able to ride out various cycles due to their “long-term investment horizons,” he noted.At the same time, the odds are against high-net-worth families in the long run, given that about “70 percent of the wealth is lost by the second generation, and 90 percent is lost by the third generation,” Van Keuren maintained.Now, more families that generated their wealth through other industries are parking their money in real estate, allowing them to “create and maintain true generational and legacy wealth,” on top of the many tax benefits, he added.Matthew Koelliker of M360 AdvisorsEven with some significant tax overhauls expected under a new administration, physical property has become increasingly attractive for family offices as stocks and bonds become less reliable, said Matthew Koelliker of M360 Advisors, a California-based investment management firm.Stalled pandemic playsBut while many family offices are ready to pounce on discounted properties, opportunities so far have been limited.Koelliker, who works with single family offices, said the distress opportunities he had “anticipated at the beginning of the pandemic are taking longer to play out.” He added that it would likely take another three to six months for many to materialize.While there are certainly opportunities with hotel properties, which have been among the hardest hit during the pandemic, Van Keuren said family offices aren’t pulling the trigger as much as he had expected. “The amount of money that has gone into buying distressed hotels isn’t to the level that you would think,” he noted.With the growing need for housing around the U.S., multifamily rentals still remain the preferred property type for the bulk of family offices, according to industry experts.Just before the pandemic hit, Van Keuren surveyed roughly 120 family offices about their real estate investments. Nearly 80 percent said their portfolios included multifamily properties, followed by 57 percent with investments in office buildings. And when asked what types of real estate they would be interested in adding to their portfolio in 2020, the majority picked multifamily and industrial assets. (Most of the families surveyed picked more than one asset type.)Haccoun said that, if anything, the pandemic has discouraged his family from investing in hotels. “We’ve been looking to invest in the hospitality sector for a long time,” he noted. “We haven’t done so yet. And I think, right now, we’re going to wait. We are not very optimistic in the near future. Coming back to normal will take time.”Instead, Steinmauer’s real estate arm is developing a 70-unit workforce housing complex on a site about 20 miles south of downtown Miami. Additional developments include a shopping center in Texas anchored by a grocery store, and other projects in Europe where Steinmauer works with European families.One emerging trend among family offices is to invest in real estate through debt rather than equity plays, said Richard Wilson, founder and CEO of the Family Office Club, a wealth management trade association. That allows the family offices to collect fixed interest payments without having long-term stakes in specific projects.“More people want income coming in right now, and want to make sure that there’s steady return of capital to put it to the next opportunity,” Wilson said.Since the onset of the pandemic, banks have pulled back on lending for many ground-up development projects, and family offices are stepping in to help fill the void, Bsharat noted. “We’re seeing more development projects that have lapses in capital … so that’s starting to happen to a degree,” he said.Wilson said his organization’s members also have been busy with “blue wave planning,” trying to figure out what to do with capital gains and estate planning after Joe Biden proposed significant changes to tax laws on the campaign trail.“There’s been a lot of planning going on over the last six months, just preparing for this moment,” Wilson said of the election. “A lot of it is around making sure that things get structured now versus [next year].”Direct businessA growing number of family offices prefer to directly act as landlords or co-developers rather than pour their money into real estate investment trusts or mutual funds.“In almost every one of our projects … we keep a certain allocation for family offices.”Tal Kerret, Silverstein PropertiesOne prominent deal grabbed headlines in October when Cascade Investment — the primary family office of Bill Gates — teamed up with Singapore’s sovereign wealth fund GIC to acquire stakes in StorageMart, one of the country’s largest self-storage chains. The deal was valued at about $2.7 billion, according to media reports. Cascade did not respond to requests for comment.Bill Rudin, Rudin Management (Getty)And though they may not technically call themselves “family offices,” some prominent real estate firms effectively play the same role as they directly invest their family wealth into their real estate holdings.Rudin Management, for example, operates the blue-blooded Rudin family’s own real estate portfolio, including 36 residential and commercial buildings in New York. Bill Rudin, the firm’s co-chairman and CEO, declined to comment.Silverstein Properties has a separate family office led by Lisa Silverstein, the company’s vice chairman and one of the daughters of its founding chairman Larry Silverstein.But the Silverstein family office invests outside of real estate — in industries like technology — to avoid any potential conflicts, said Tal Kerret, president of Silverstein Properties and the husband of Lisa Silverstein. All of the family’s real estate investments go to the company’s own projects, he said.More broadly, Kerret acknowledged that family offices are upping their stakes in real estate. And a handful have remained longtime partners over the years.Lisa and Larry Silverstein, Silverstein Properties“In almost every one of our projects … we keep a certain allocation for family offices,” Kerret said, noting that those investors get the same terms as the company’s own family members.“It’s more about the relationship than anything,” he added, “because financially, it’s easier to only deal with institutional investors.”Collective effortsWhile pandemic deals are still few and far between, according to industry sources, distressed condo projects in New York are gaining more attention from family offices.Seth Weissman, a managing partner at the real estate investment firm Urban Standard Capital, said he’s putting together a bulk purchase of condos in a new development on the Upper East Side for his family office clients.Before the pandemic, the development was priced at $1,750 a square foot, and Weissman’s family office clients are pooling their money to buy a bunch of unsold units at about $1,100 per square foot, he noted. Those units would be rented out until the price goes up to the point where investors could sell them at a profit. Weissman declined to give the property’s address because he said the deal hasn’t been finalized.A growing number of family offices are teaming up to invest in those kinds of opportunities because they share the similar long-term investment horizons.“They want to be working with people who say: ‘This is generational, and we’d like to be invested in things for the long term,’” Bsharat said. “So that’s often why they pool their capital together.”That’s also been the case for Steinmauer, which teams up with other family offices to invest in real estate.Haccoun said his family’s main objective is to prosper beyond the third and fourth generations, “which are the most difficult in a family office.”“We are here on a long-term basis,” he said, noting that Steinmauer plans to stay invested in its real estate holdings for 10 years or more to help preserve the family’s wealth. “We keep on growing this part of the portfolio because we believe it’s an amazing asset to transfer to the next generation.”Contact the author Message* Share via Shortlink Full Name* Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Email Address* TagsCommercial Real EstateDistresslast_img read more

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IU denying rumors that former Ohio State coach could be next Hoosier basketball coach

first_imgIndianaLocalNewsSports WhatsApp By Jon Zimney – March 23, 2021 0 194 Google+ Twitter By Batistaya (Own work) [Public domain], via Wikimedia Commons Indiana University is denying a published report that Thad Matta has been offered the basketball coaching job.Rivals.com reported Matta agreed to terms to be the Hoosiers’ next coach, but the deal fell through after the former Ohio State coach flunked his physical.Sports Illustrated reports the story was “completely false.”Matta played and coached at Butler. He also led Ohio State to two Final Four appearances in 13 years before stepping down in June 2017 because of heath concerns.IU fired basketball coach Archie Miller last week. Pinterest IU denying rumors that former Ohio State coach could be next Hoosier basketball coach WhatsApp Pinterest Facebook Previous articlePotawatomi Zoo ready to open on April 2Next articleBoulder Colorado officer killed in supermarket shooting was a Ball State graduate Jon ZimneyJon Zimney is the News and Programming Director for News/Talk 95.3 Michiana’s News Channel and host of the Fries With That podcast. Follow him on Twitter @jzimney. Facebook Twitter Google+last_img read more

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