MONDAY, DECEMBER 30,
‘No doubt’ on victory over CCA in Baha Mar battle
By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net
CCA Construction Inc has obtained an order to lift the automatic Chapter 11 “stay” from the New Jersey Bankruptcy Court right after the Christmas holidays in a bid to join in with the appeal filing - even as the original Baha Mar developer said it had “no doubt” it would be victorious in the appeals court.
In an order filed on December 27, 2024, the bankruptcy court lifted the automatic stay, allowing CCA Construction to join in the New York appeals court case against the $1.6bn damages owed to Baha Mar’s original developer, led by Sarkis Izmirlian.
CCA Construction Inc, the contractor’s New Jersey-based entity, sought Chapter 11 bankruptcy protection in the US legal system to safeguard its assets and business from any attempt by Baha Mar’s original developer to enforce his near-total New York State Supreme Court triumph by seizing their property.
The Bahamian-domiciled entities also named as defendants in the New York action, CCA Bahamas and China State Construction and Engineering Construction (CSCEC) Bahamas, are not impacted by the Chapter 11 bankruptcy protection filing.
And The Tribune also understands that they, as well as the separate Bahamian incorporated entities that hold downtown Nassau’s British Colonial and Margaritaville Beach Resort, are not subject to any administration, receivership or liquidation-related proceedings before this nation’s Supreme Court - as had been threatened in previous CCA legal filings.
This is likely because, as the Chapter 11 paperwork makes clear, CCA Bahamas and CSCEC Bahamas are required to file the
Closure and layoffs for Sawyer’s market
By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net
A GRAND Bahama grocery store has announced a closure and layoffs ahead of the New Year.
Sawyer’s Fresh Market announced the “temporary closure” of its Lucaya Store and distribution warehouse on Friday, as well as the decision to “temporarily furlough” several employees. In a statement, the grocer said the “strategic move” will allow them to “optimise operations” and
encouraged patrons to shop at their Oak Street location.
“Effective Friday, December 27, 2024, Sawyer’s Fresh Market will temporarily close its Lucaya Store and distribution warehouse. It is a strategic move to better focus resources on the Oak Street location, enabling us to serve our customers more efficiently and effectively and maintain the high standards of service our community has come to expect,” said the statement.
“As part of this transition, we will temporarily furlough some of
Pintard outlines FNM’s plan for Grand Lucayan sale
By ANNELIA NIXON Tribune Business Reporter
THE FNM would seek to sell the Grand Lucayan to a proven investor if it gains office in the next election, said party leader Michael Pintard. Mr Pintard said the FNM’s “number one action” would be to sell the hotel “to a proven investor with financial wherewithal and proven track record (directly or through partnership) in hotel development and operations”.
He added that many interested in purchasing the property have already been vetted to some level. Despite the hope to sell the property to one owner, they “are open to exploring a subdivision of the existing development and sell to more than one buyer with complimentary projects”.
“We will establish parameters within which we will provide incentives to potential buyers,” Mr Pintard said. “We will ensure that the Bahamian people are
Ministry aims to complete ‘Hope City’ shelter in 2025
By ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net
THE Great Commission Ministries announced its 2025 goals are to continue its plans to “construct a 100-bed homeless shelter” and relaunch its social outreach programmes.
According to Bishop Walter Hanchell, president and founder of the Great Commission, the commission will launch a number of programmes that will touch on varying aspects, including mental health,
parenting, and inner-city struggles, with the help of psychologist and executive director Dr Tamalia Gibson. He is calling on “devoted qualified volunteers and businesses” to help.
“We will target the family, which is the root cause of our many social problems,” Bishop Hanchell said. “We plan to visit every inner-city neighbourhood and hear the cries of the people. We will also conduct seminars on parenting and mental health conferences. Our executive director, Dr
MICHAEL PINTARD
BAHA MAR RESORT
Nassau Cruise Port hosts exclusive mixology class
VISITORS to Nassau
Cruise Port have been able to learn about mixology. During the inaugural call of Virgin Voyages’ Resilient Lady, the ship’s crew were able to take a Bahamian mixology class led by “Marvelous Marv” Cunningham, also known as Mr Mix Bahamas. The session in November introduced 15 crew members to the art of
crafting four distinctly Bahamian cocktails. Mike Maura Jr, CEO of Nassau Cruise Port, said: “We focus heavily on providing an exceptional experience for our passengers, which is absolutely essential. But we’re also keenly aware that the crew members of each ship are key stakeholders in our port’s success. They are repeat visitors, often returning multiple times
each season, and their
hand recommendations have an impact that can’t be matched. This mixology experience marks the beginning of our enhanced crew engagement strategy, which aims to deepen our relationships with the crew and ensure that they feel valued while enjoying meaningful, positive experiences in Nassau during each of their visits.”
RESILIENT LADY crew members celebrate the ship’s inaugural call to Nassau with ‘Marvelous Marv’ Cunningham, also known as Mr. Mix Bahamas, at an exclusive mixology class hosted at Nassau Cruise Port.
TOURISM SLOWDOWN HITS COMMONWEALTH REVENUE
By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net
A BISX-listed brewery said its near three percent revenue decline is due to “demand slowdown” in the tourism sector.
Commonwealth Brewery, in its third quarter and ninemonth results for the period to end September 2024, said they experienced a 4.8 percent revenue decline in the third quarter, resulting in a year-to-date revenue
impact of -2.9 percent from 2023. Kalik’s manufacturer said the decline was due to a “demand slowdown” in the hotel tourism industry after last year’s record-breaking numbers.
“Through the third quarter of 2024, Commonwealth Brewery Ltd (CBL) experienced a revenue decline of 4.8 percent compared to the same period last year, thus resulting in a year-todate revenue impact of -2.9 percent compared to 2023,” said the CBL unaudited financial statement.
“This quarter decline was primarily driven by an observed demand slowdown in the hotel tourism sector versus last year, which would be characterized as a return to previous pre-covid levels from a peak experienced in 2023.”
Commonwealth Brewery’s financial statements showed that top-line gross revenues fell by more than $1.2m year-over-year for the 2024 third quarter, declining from $34.196m to $32.457m. For the ninemonths, they fell by more
‘No doubt’ on victory over CCA in Baha Mar battle
FROM PAGE B1
contractor’s substantive appeal against Mr Izmirlian’s damages award with the New York court by December 30, 2024. They would likely not be able to do so if subject to any receivership and/or liquidation proceedings in The Bahamas.
In a statement, also filed with the New Jersey Bankruptcy court on 27, December, 2024, BML Properties Ltd noted that with an outstanding judgement of $1.6bn they are “by far” CCA Bahamas’s largest creditor and does not object to the automatic stay being lifted.
“CCA owes BMLP more than $1.6bn under an enforceable New York State court judgment, making BMLP by far the largest creditor of CCA,” said the court filings. “After discussing changes to the proposed form of order with CCA’s proposed counsel and obtaining a commitment from counsel to provide BMLP with certain financial reporting, BMLP does not object to CCA’s request to modify the automatic stay to permit CCA to continue with the Appeal of the New York judgment.”
BML Properties in its statement accused CCA Bahamas of giving a
“remarkably one-sided and incomplete picture” of the litigation during their first appearance in the New Jersey Bankruptcy Court. The statement said CCA had not providing the 74-page verdict in which New York State Supreme Court judge Andrew Borrok awarded Mr Izmirilian and his family the full value of their original $845m equity investment in the New Providence mega resort project plus more than a decade’s worth of pre-judgment interest after finding CCA and its affiliates perpetrated “an absolute sham and shakedown” by providing
than $2.8m dropping to $99.196m from $102.073m.
As a result, even though total operating expenses declined slightly year-overyear, the company’s third quarter and nine months total profits fell by 29.7 percent and 12.1 percent, respectively, to $1.607m and $7.698m. The former figure represented a more than $1.06m decline compared to the 2023 third quarter, while the latter was a $678,520 drop. Commonwealth Brewery said it is engaging in “competitive pricing” and
“phony” completion dates to the New Jersey court.
BML Properties said it “has no doubt” they will be victorious in the New York Appeals Court and “vindicate its rights” in the Chapter 11 proceedings.
“BMLP has no doubt that it will successfully defend the appeal in New York and fully intends to vindicate its rights in this Chapter 11 proceeding, including but not limited to pursuing any and all claims that may lie against nominally separate affiliates of CCA such as its ultimate corporate parent CSCEC, Ltd,” said the court document.
The irony of CCA having to seek Chapter 11 bankruptcy protection with a sudden, surprise filing on a Sunday/weekend is unlikely to be lost on many given that nine-and-a-half years ago it slammed Mr Izmirlian and his executive
has implemented a “cost savings agenda” to offset the decline but maintained that they continue to generate positive cash flow of $13m during the first nine months. “To address this contraction, CBL has taken steps to support its consumers and customers through competitive pricing and implemented a cost savings agenda including an increased focus on product management and our commercial and fixed cost base,” said the unaudited financial statement.
team for doing exactly the same thing after it failed to complete the multi-billion Baha Mar mega resort on time and on budget.
In a statement responding to CCA Construction Inc’s Chapter 11 move, Mr Izmirlian accused the Chinese state-owned contractor of “hiding” behind US bankruptcy protection law to avoid having to pay him $1.642bn in damages and post a $1.9bn bond to pursue overturning that award via the New York State Supreme Court’s appeals division.
Reiterating that he secured a near-total win in his original fraud and breach of contract claim, the Lyford Cay resident voiced optimism that both himself and his BML Properties vehicle will prevail in their legal battles with CCA Construction Inc and its Bahamian affiliates
Ministry aims to complete ‘Hope City’ shelter in 2025
PAGE B1
Tamalia Gibson, an experienced psychologist has organised a number of such events previously along with a Marriage Club. We are in need of devoted qualified volunteers and businesses that will underwrite the cost of such needed initiatives. We invite interested persons to stop in at our office or visit our website for further information.”
It is Bishop Hanchell’s goal that the homeless shelter, which he said would be named Hope City, will complete construction in 2025.
The 100-bed shelter located on Carmichael Road will provide a secure home to “homeless persons off the street and to help a lot of mothers and their kids”.
“We have so many people coming in every day looking for somewhere to lay their heads,” Bishop Hanchell added. “People are being evicted out of their homes.
A lot of Bahamians are going through hard times and so we need some more resources to be able to meet some of those needs that are out there. There’s so many. We have a lot of people coming to us who are working, but still, they have no money because all their money is being spent on bills, bank payments and so they have no resources and they run out of money. And we have to help them with the little that we have. But that’s how life is. It’s becoming harder in the
country for the middle class and for the average person, life is becoming much more difficult and people are really struggling.
“So what we do, we try to ease the burden by helping as many people as we could, by sheltering as many persons as we could, in particular women and children. The country is really going through a hard time right now and we need to be our brother’s keepers. We need some more churches to help us. Great Commission Ministries are celebrating 37 years now taking care of the poor, assisting the poor, sheltering the homeless. And we do this because that’s what God called us to do. And we enjoy what we do. Helping people, making people smile, and just doing the best that we could to lift people up and giving them hope.
“So we need help and we hope that next year, God willing, we could complete construction on our building that we call Hope City, which is a state-of-the-art homeless shelter with 100 beds to take a lot of homeless persons off the street and to help a lot of mothers and their kids.”
Ending the year with a successful Christmas dinner featuring a giveaway thanks to their donors, Bishop Hanchell noted that “2024 is perhaps the most challenging year that Great Commission Ministries has experienced in recent
years” regarding the need for food and shelter.
“Great Commission Ministries has had a busy Christmas season catering to the needs of the underprivileged and hurting in our community,” Bishop Hanchell said. “Our focus continues to be feeding, sheltering and caring. Our Christmas dinner was a success. Hundreds of delicious meals were served and we held a tent giveaway where furniture, clothing and household goods were distributed to many persons in need. We were blessed to get some assistance from our regular donors and a
few new donors. There were some businesses we reached out to for assistance, who had exhausted their budgets for charity. We are extremely grateful to all of our faithful compassionate donors, staff and volunteers who have laboured so diligently over the past year to bring relief to the most vulnerable among us.
“As we look back over the year, 2024 is perhaps the most challenging year that Great Commission Ministries has experienced in recent years. We have seen a sharp increase in the number of clients coming to us... What our staff has
observed is that the level of desperation among many of the people coming in for food and shelter has elevated. We see so much frustration and hopelessness. In addition to this, the level of frustration and lack seen has caused poor and needy Bahamians to become angry and impatient. The level of suffering in families that come to our Wulff Road headquarters is unprecedented. Most of these precious souls are unemployed, under-employed or may be unemployable because of mental health challenges or bad work ethics.
“This strategy resulted in operating expense improvements of 3.5 percent for the quarter and 2.0 percent year-to-date. CBL continues to generate positive cash flow from operations, totalling $13 m during the first nine months of the year.
“Overall, our financial performance for the nine months ended September 30, 2024, reflects our ability to adapt to market conditions and maintain profitability through effective cost management and strategic product focus.”
before both the New York Supreme and now-New Jersey federal bankruptcy courts.
Attacking the Chinese contractor’s stealth move to file for Chapter 11 protection for its US arm, Mr Izmirlian blasted: “This is just another example of CCA, and its multi-billiondollar parent company China State Construction Engineering Corporation (CSCEC), attempting to evade responsibility for its actions by hiding behind a Chapter 11 proceeding.
“I am confident that both the bankruptcy judge and the New York appellate court will see CCA for what it is: A company fraudulently managed by bad actors. We will take every step necessary to enforce our rights against CCA and all those who orchestrated CCA’s frauds, including its parent, CSCEC.”
“Recently, we have seen people showing up at 8am to get a hot meal or a bag of grocery at 12 noon. Between 500 to 600 persons from around the island, in particular in the inner city, come to us daily seeking food primarily. Others, who find themselves homeless for various reasons, end up in one of our shelters. We have seen an increase in the working poor coming in for help because food costs have escalated in the past two years and rental units have also increased making it difficult for them to sustain their families. Furthermore, there is a shortage of affordable rental units and housing in New Providence at this time.”
Pintard outlines FNM’s plan for Grand Lucayan sale
not disadvantaged [by] the final sale.”
He added that the revitalisation of the golf courses in Grand Bahama “as an integral part of our sports tourism offering” will include partnering with owners of “existing golf courses”. He said they will also work “aggressively” with the Small Business Development Centre and other local and internal funders to finance cultural offerings in Grand Bahama.
“We will aggressively work with SBDC and other funders locally and international to finance cultural, heritage and other activity offerings which would make Grand Bahama far
more attractive to stopover and cruise passengers.”
He also mentioned building a “stronger” relationship between artists and artisans in Grand Bahama and the hotel.
“We will engage members of both the board of directors that presided over the sale of the Grand Lucayan under the FNM and PLP. We will consult with the outgoing Minister of Tourism and review the handover notes to ensure continuity.”
Noting that “the future of the Grand Lucayan must be viewed in the context of the overall development of Grand Bahama in general and the development of the Tourism infrastructure and ecosystem in particular”, Mr Pintard also listed
general considerations for Grand Bahama including creating a Master Development plan in partnership with stakeholders.
“We will, in concert with other stakeholders, create a master development plan for the island of Grand Bahama in general and West End and East End in particular,” Mr Pintard said. “This plan will include the creation of community public spaces, identification of potential touristic, agricultural, manufacturing, creative, green and other entrepreneurial opportunities for residents and foreign investors. By establishing a clear brand we would bring focus to our national and international efforts to attract investors.”
Jet crash disaster in South Korea marks another setback for Boeing
By PAUL WISEMAN AP Economics Writer
A MACHINISTS strike.
Another safety problem involving its troubled topselling airliner. A plunging stock price.
2024 was already a dispiriting year for Boeing, the American aviation giant.
But when one of the company's jets crash-landed in South Korea on Sunday, killing all but two of the 181 people on board, it brought to a close an especially unfortunate year for Boeing.
The cause of the crash remains under investigation, and aviation experts were quick to distinguish Sunday's incident from the company's earlier safety problems.
Alan Price, a former chief pilot at Delta Air Lines who is now a consultant, said it would be inappropriate to link the incident Sunday to two fatal crashes involving Boeing's troubled 737 Max jetliner in 2018 and 2019.
In January this year, a door plug blew off a 737 Max while it was in flight, raising more questions about the plane. The Boeing 737-800 that crash-landed in Korea, Price noted, is "a very proven airplane. "It's different from the Max ...It's a very safe airplane.''
For decades, Boeing has maintained a role as one of the giants of American manufacturing. But the the past year's repeated troubles have been damaging. The company's stock price is down more than 30% in 2024. The company's reputation for safety was
Mr Pintard mentioned moving with haste and “urgency” to “complete negotiations and execution of the development of the Grand Bahama International Airport”.
“Upgrading our worldclass airport is a key component of a world-class tourism destination. Furthermore, an airport which caters to private and commercial flights increases stopover visitors and expand revenues streams. The success of our airport will depend on finding the sweet spot in terms of fees charged. The airport must be sustainable but the costs of landing and using it must not be prohibitive. We will ensure that courier services businesses such as DHL and Federal Express can be
especially tarnished by the 737 Max crashes, which occurred off the coast of Indonesia and in Ethiopia less than five months apart in 2018 and 2019 and left a combined 346 people dead. In the five years since then, Boeing has lost more than $23 billion. And it has fallen behind its European rival, Airbus, in selling and delivering new planes.
Last fall, 33,000 Boeing machinists went on strike, crippling the production of the 737 Max, the company's bestseller, the 777 airliner and 767 cargo plane. The walkout lasted seven weeks, until members of the International Association of Machinists and Aerospace Workers agreed to an offer that included 38% pay raises over four years.
In January, a door plug blew off a 737 Max during an Alaska Airlines flight. Federal regulators responded by imposing limits on Boeing aircraft production that they said would remain in place until they felt confident about manufacturing safety at the company.
In July, Boeing agreed to plead guilty to conspiracy to commit fraud for deceiving the Federal Aviation Administration regulators who approved the 737 Max. Acting on Boeing's incomplete disclosures, the FAA approved minimal, computer-based training instead of more intensive training in flight simulators. Simulator training would have increased the cost for airlines to operate the Max and might have pushed some to buy planes from Airbus instead.
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accommodated. Our strategic location between north and south and east and west makes us ideal for attracting logistics and consolidation business. Securing Preclearance is on our priority list.”
Mr Pintard added that engaging and working with the Grand Bahama Port Authority is also in the plans “to facilitate [the] onboarding of new shareholders with sufficient capital and clear vision for the Port area” as well as “to create a more transparent and accountable new regulatory body that includes business licence, electricity, and water regulation”.
He said they will “accelerate” the plan to “establish Grand Bahama as the “Tech Hub” and “epicenter for maritime matters” through
the University of The Bahamas Northern Campus. Mr Pintard also listed “three overarching goals” that will strengthen tourism investment efforts which include the protection of of tourism infrastructure by creating “breakwaters, seawalls, groins, groynes and other protective structures that mitigates some of the impacts of hurricanes”. He included in the list, “timely adoption of renewable energy sources” and moving “with urgency toward food security”.
“One of the largest economic leakage of the monies earned from tourists is monies that are spent on imported foods.”
Closure and layoffs for Sawyer’s market
FROM PAGE B1
our dedicated team members. These employees have played a vital role in making Sawyer’s Fresh Market a trusted name in Grand Bahama, and we are grateful for their commitment. Our goal is to rehire them once the transition is complete, ensuring that we continue to deliver the quality and service our customers deserve.
“We remain steadfast in our commitment to providing the same exceptional service at our Oak Street location. We are deeply appreciative of the loyalty of our Lucaya customers and encourage them to continue shopping with us at Oak Street. This strategic move will allow us to optimise operations, ensuring we remain a reliable resource for the grocery needs of all our customers in Grand Bahama.”
Sawyer’s Fresh Market opened its first store on Oaks Street in Freeport and later expanded to a second location in the Lucaya area recently made a $7.5m investment in their Paradise Island’s Hurricane Hole location.
The announcement of the store’s closure was “not surprising” to one employee who told Tribune Business that there had been issues keeping inventory on the shelves for months.
Grand Bahama residents have also expressed concerns about the lack of
inventory with many turning to social media to voice disappointment about the empty shelves ahead of the holidays.
Speaking anonymously, the employee said the majority of staff from the closed locations were furloughed and advised that this would last for about three months.
Employees were also notified earlier this month that they would not receive a Christmas bonus or early pay access via an internal memo that was widely circulated on social media.
“We understand that this time of year brings anticipation for holiday preparations, including early access to pay. However, we would like to inform you that payroll will be processed according to the regular pay schedule. We encourage everyone to plan accordingly as you prepare for the holidays,” said the memo.
“Additionally, we would like to inform you that there will not be a Christmas bonus issued this year. This decision was made with the utmost consideration, and we appreciate your understanding as we focus on initiatives to strengthen our organisation for the future and recognise your contributions in other meaningful ways. Together, we will navigate this period and work toward brighter and more rewarding days ahead.”
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FIREFIGHTERS and rescue team members work near the wreckage of a passenger plane at Muan International Airport in Muan, South Korea, Sunday, Dec. 29, 2024.
Photo:Ahn Young-joon/AP
Maryland sues maker of Gore-Tex over pollution from toxic ‘forever chemicals’
By LEA SKENE Associated Press
MARYLAND is suing the company that produces the waterproof material Gore-Tex often used for raincoats and other outdoor gear, alleging its leaders kept using "forever chemicals" long after learning about serious health risks associated with them.
The complaint, which was filed last week in federal court, focuses on a cluster of 13 facilities in northeastern Maryland operated by Delaware-based W.L. Gore & Associates. It alleges the company polluted the air and water around its facilities with per- and polyfluoroalkyl substances, jeopardizing the health of surrounding communities while raking in profits.
The lawsuit adds to other claims filed in recent years, including a class action on behalf of Cecil County residents in 2023 demanding Gore foot the bill for water filtration systems, medical bills and other damages associated with decades of harmful pollution in the largely rural community.
"PFAS are linked to cancer, weakened immune systems, and can even harm the ability to bear children," Maryland Attorney General Anthony Brown said in a statement. "It is unacceptable for any company to knowingly contaminate our drinking water with these
toxins, putting Marylanders at risk of severe health conditions."
Gore spokesperson Donna Leinwand Leger said the company is "surprised by the Maryland Attorney General's decision to initiate legal action, particularly in light of our proactive and intensive engagement with state regulators over the past two years."
"We have been working with Maryland, employing the most current, reliable science and technology to assess the potential impact of our operations and guide our ongoing, collaborative efforts to protect the environment," the company said in a statement, noting a Dec. 18 report that contains nearly two years of groundwater testing results.
But attorney Philip Federico, who represents plaintiffs in the class action and other lawsuits against Gore, called the company's efforts "too little, much too late." In the meantime, he said, residents are continuing to suffer — one of his clients was recently diagnosed with kidney cancer.
"It's typical corporate environmental contamination," he said. "They're in no hurry to fix the problem."
The synthetic chemicals are especially harmful because they're nearly indestructible and can build
up in various environments, including the human body. In addition to cancers and immune system problems, exposure to certain levels of PFAS has been linked to increased cholesterol levels, reproductive health issues and developmental delays in children, according to the Environmental Protection Agency.
Gore leaders failed to warn people living near its Maryland facilities about the potential impacts, hoping to protect their corporate image and avoid liability, according to the state's lawsuit. The result has been "a toxic legacy for generations to come," the lawsuit alleges.
Since the chemicals are already in the local environment, protecting residents now often means installing complex and expensive water filtration systems. People with private wells have found highly elevated levels of dangerous chemicals in their water, according to the class action lawsuit.
The Maryland facilities are located in a rural area just across the border from Delaware, where Gore has become a longtime fixture in the community. The company, which today employs more than 13,000 people, was founded in 1958 after Wilbert Gore left the chemical giant DuPont to start his own business.
Janet Yellen tells Congress US could hit debt limit in mid-January
By FATIMA HUSSEIN Associated Press
TREASURY Secretary
Janet Yellen said her agency will need to start taking "extraordinary measures," or special accounting maneuvers intended to prevent the nation from hitting the debt ceiling, as early as January 14, in a letter sent to congressional leaders Friday afternoon.
"Treasury expects to hit the statutory debt ceiling between January 14 and January 23," Yellen wrote in a letter addressed to House and Senate leadership, at which point extraordinary measures would be used to prevent the government from breaching the nation's debt ceiling — which has been suspended until Jan. 1, 2025.
The department has in the past deployed what are known as "extraordinary measures" or accounting maneuvers to keep the government operating. But once those measures run out the government risks defaulting on its debt unless lawmakers and the president agree to lift the limit on the U.S. government's ability to borrow.
"I respectfully urge Congress to act to protect the full faith and credit of the United States," she said.
The news comes after President Joe Biden signed a bill into law last week that averted a government shutdown but did not include President-elect Donald Trump's core debt demand to raise or suspend the nation's debt limit. The bill was approved by Congress only after fierce internal
debate among Republicans over how to handle Trump's demand. "Anything else is a betrayal of our country," Trump said in a statement.
After a protracted debate in the summer of 2023 over how to fund the government, policymakers crafted the Fiscal Responsibility Act, which included suspending the nation's $31.4 trillion borrowing authority until Jan. 1, 2025. Notably however, Yellen said, on Jan. 2 the debt is projected to temporarily decrease due to a scheduled redemption of nonmarketable securities held by a federal trust fund associated with Medicare payments. As a result, "Treasury does not expect that it will be necessary to
start taking extraordinary measures on January 2 to prevent the United States from defaulting on its obligations," she said.
The federal debt currently stands at roughly $36 trillion — which ballooned across both Republican and Democratic administrations. And the spike in inflation after the coronavirus pandemic pushed up government borrowing costs such that debt service next year will exceed spending on national security.
Republicans, who will have full control of the White House, House and Senate in the new year, have big plans to extend Trump's 2017 tax cuts and other priorities but debate over how to pay for them.
Tis is to inform the GENERAL PUBLIC that the private roadways and parking areas situated in the Harbour Bay Shopping Centre between East Bay Street and Shirley Street will be closed on Wednesday 1st of January, 2025 in order to preserve the right of way ownership thereof.
Its profile rose with the development of Gore-Tex, a lightweight waterproof material created by stretching polytetrafluoroethylene, which is better known by the brand name Teflon that's used to coat nonstick pans. The membrane within Gore-Tex fabric has billions of pores that are smaller than water droplets, making it especially effective for outdoor gear.
The state's complaint traces Gore's longstanding relationship with DuPont, arguing that information about the chemicals' dangers was long known within both companies as they sought to keep things quiet and boost profits. It alleges that as early as 1961, DuPont scientists knew the chemical caused adverse liver reactions in rats and dogs.
DuPont has faced widespread litigation in recent years. Along with two spinoff companies, it announced a $1.18 billion deal last year to resolve complaints of polluting many U.S. drinking water systems with forever chemicals.
The Maryland lawsuit seeks to hold Gore responsible for costs associated with the state's ongoing
investigations and cleanup efforts, among other damages. State oversight has ramped up following litigation from residents alleging their drinking water was contaminated.
Until then, the company operated in Cecil County with little scrutiny. Gore announced in 2014 that it had eliminated perfluorooctanoic acid from the raw materials used to create Gore-Tex. But it's still causing long-term impacts because it persists for so long in the environment, attorneys say.
Over the past two years, Gore has hired an environmental consulting firm to conduct testing in the area and provided bottled water and water filtration systems to residents near certain Maryland facilities, according to a webpage describing its efforts.
Recent testing of drinking water at residences near certain Gore sites revealed
perfluorooctanoic acid levels well above what the EPA considers safe, according to state officials.
Attorneys for the state acknowledged Gore's ongoing efforts to investigate and address the problem but said the company needs to step up and be a better neighbor.
"While we appreciate Gore's limited investigation to ascertain the extent of PFAS contamination around its facilities, much more needs to be done to protect the community and the health of residents," Maryland Department of the Environment Secretary Serena McIlwain said in a statement. "We must remove these forever chemicals from our natural resources urgently, and we expect responsible parties to pay for this remediation."
MARYLAND Attorney General Anthony Brown speaks during a press conference on Sept. 24, 2024, in Baltimore.
Photo:Stephanie Scarbrough/AP
U.S. Treasury Secretary Janet Yellen speaks during a visit to the Financial Crimes Enforcement Network (FinCEN) in Vienna, Va., on Jan. 8, 2024.
Photo:Susan Walsh/AP
MOST AMERICANS BLAME INSURANCE PROFITS AND DENIALS ALONGSIDE THE KILLER IN UHC CEO DEATH, POLL FINDS
By LINLEY SANDERS, TOM MURPHY and AMELIA THOMSONDEVEAUX Associated Press
MOST Americans believe health insurance profits and coverage denials share responsibility for the killing of UnitedHealthcare’s CEO — although not as much as the person who pulled the trigger, according to a new poll.
In the survey from NORC at the University of Chicago, about 8 in 10 U.S. adults said the person who committed the killing has “a great deal” or “a moderate amount” of responsibility for the Dec. 4 shooting of Brian Thompson.
Despite that, some have cast Luigi Mangione, the 26-year-old suspect charged with Thompson’s murder, as a heroic figure in the aftermath of his arrest, which gave rise to an outpouring of grievances about insurance companies. Police say the words “delay,” “deny” and “depose” were scrawled on the ammunition investigators found at the scene, echoing a phrase commonly used to describe insurer tactics to avoid paying claims.
UnitedHealthcare has said Mangione was not a client.
About 7 in 10 adults say that denials for health care coverage by insurance companies, or the profits made by health insurance companies, also bear at least “a moderate amount” of responsibility for Thompson’s death. Younger Americans are particularly likely to see the murder as the result of a confluence of forces rather than just one person’s action.
Americans see a wide range of factors contributing to UHC CEO’s killing The poll finds that the story of the slaying is being followed widely. About 7 in 10 said they had heard or read “a lot” or “some” about Thompson’s death. Multiple factors were seen as responsible. About half in the poll believe that at least “a moderate amount” of blame is rooted in wealth or income inequality, although they did not think other factors like political divisions in the U.S. held the same level of responsibility.
Patients and doctors often complain about coverage denials and other complications interfering with care, especially for serious illnesses like cancer and amyotrophic lateral sclerosis, or ALS. Insurance industry critics frequently point to company profits in questioning whether the interests of patients are their top focus.
UnitedHealthcare made more than $16 billion in
profit last year, before interest and taxes, on $281 billion in revenue. Insurers frequently note that most of the revenue they bring in goes back out the door to pay for care. UnitedHealthcare said this month that it pays about 90% of medical claims when they are submitted. The insurer has not provided details about how many claims that involves. For young people, blame is spread equally between insurers and the killer Americans under 30 are especially likely to think a mix of factors is to blame for Thompson’s death. They say that insurance company denials and profits are about as responsible as Thompson’s killer for his death. About 7 in 10 U.S. adults between 18 and 29 say “a great deal” or “a moderate amount” of responsibility falls on profits made by health insurance companies, denials for health care coverage by health insurance companies or the person who committed the killing.
Young people are also the least likely age group to say “a great deal” of responsibility falls on the person who committed the killing. Only about 4 in 10 say that, compared with about 6 in 10 between 30 and 59. Roughly 8 in 10 adults over 60 say that person deserves “a great deal” of responsibility.
About two-thirds of young people place at least a moderate level of blame on wealth or income inequality, in general.
People under 30 are more likely to place blame on the media, with 54% saying that compared with about one-third of older adults.
About 3 in 10 struggled with coverage from health insurance in the last year
Frustrations with health insurers, coverage and the complicated U.S. health care system have been simmering for years among patients.
About 3 in 10 Americans say they have had a problem getting coverage from their health insurer in the last year, whether those involved problems finding a suitable provider in-network, a claim getting denied or issues getting prior authorization or insurer approval before care happens. These struggles are more prevalent among Americans under 60.
UnitedHealthcare says prior authorizations help eliminate waste in the system and let people know whether care will be covered before it is delivered. It says less than 2% of the insurer’s customers experience a denial of care from prior authorizations annually.
Roughly 3 in 10 in the poll say immediate family or close friends have experienced problems getting coverage from their health insurer in the last year. Americans under 30 are among the most likely to say they don’t have health insurance.
Most Americans get health coverage through their job or by purchasing individual policies. Separate, government-funded programs provide coverage for people with low incomes or those who are age 65 and over or have severe illnesses or disabilities.
One dead, two hospitalized after fire at Tyson Foods plant in Georgia
By JEFF AMY and DEE-ANN DURBIN Associated Press
A WOMAN died and two other people were hospitalized with injuries after an overnight fire at a Tyson Foods plant in southwest Georgia, state officials said Friday. A wall fell on the cab of an 18-wheel truck parked outside the plant, Mitchell County Coroner Robby Willis told The Associated Press, killing the wife of a truck driver who was asleep inside. He identified the victim as Bajarma Batozhapov, 61, of Las Vegas. The Retail, Wholesale and Department Store Union, which represents 1,600 workers at the plant, said Friday that a boiler had exploded. Tyson said it was
working with local authorities to determine the cause of the fire. Officials said a fire burned for about three hours. Heavy equipment was required to remove debris from the truck and Willis said that the woman's body wasn't recovered until about 2 p.m. Friday. The woman's husband wasn't in the truck and wasn't injured, he said. Willis declined to state a cause of death for the woman, and said an autopsy would be performed by the Georgia Bureau of Investigation on Monday.
"We extend our deepest condolences to their family and friends during this difficult time. Right now we are still gathering the facts, but ensuring the safety of our team members is our top priority, and
The Tribune wants to hear from people who are making news in their neighbourhoods. Perhaps you are raising funds for a good cause, campaigning for improvements in the area or have won an award. If so, call us on 322-1986 and share your story. Share your
we are conducting a full investigation into the cause of the fire," Tyson said in a statement.
Bryce Rawson, a spokesperson for the Georgia State Fire Marshal's Office, confirmed the death and injuries but said he couldn't share anything further Friday afternoon since the investigation was ongoing.
The plant in Camilla, which has a population of about 5,000 people, is the largest employer in Mitchell County. Tyson bought it in 2018 as part of its $2.16 billion purchase of Keystone Foods. The union said the plant primarily produces chicken nuggets and chicken fillets for restaurants.
"Agriculture is the backbone of our economy down here and Tyson is a major part of that," Camilla Mayor Kelvin Owens said.
Owens said Tyson is more than just an employer to the city.
"Not only are they important to the economy, they're important to us as people," Owens said. "We consider them family and we're going to do everything we can to support them during this time."
DEMONSTRATORS hold up signs while waiting for the arrival of Luigi Mangione for his arraignment in Manhattan Criminal Court, Monday, Dec. 23, 2024, in New York. Photo:Stefan Jeremiah/AP
CHINA SANCTIONS 7 COMPANIES OVER US MILITARY ASSISTANCE TO TAIWAN
BEIJING
Associated Press
THE Chinese government placed sanctions on seven companies on Friday in response to recent U.S. announcements of military sales and aid to Taiwan, the self-governing island that China claims as part of its territory.
The sanctions also come in response to the recent approval of the U.S. government's annual defense spending bill, which a Chinese Foreign Ministry statement said "includes multiple negative sections on China."
China objects to American military assistance for Taiwan and often imposes sanctions on related companies after a sale or aid package is announced. The sanctions generally have
a limited impact, because American defense companies don't sell arms or other military goods to China.
The U.S. is the main supplier of weapons to Taiwan for its defense.
The seven companies being sanctioned are Insitu Inc., Hudson Technologies Co., Saronic Technologies, Inc., Raytheon Canada, Raytheon Australia, Aerkomm Inc. and Oceaneering International Inc., the Foreign Ministry statement said. It said that "relevant senior executives" of the companies are also sanctioned, without naming any.
Any assets they have in China will be frozen, and organizations and individuals in China are prohibited from engaging in any activity with them, it said.
U.S. President Joe Biden last week authorized up to $571 million in Defense Department material and services and military education and training for Taiwan. Separately, the Defense Department announced that $295 million in military sales had been approved.
The U.S. defense bill boosts military spending to $895 billion and directs resources toward a more confrontational approach to China. It establishes a fund that could be used to send military resources to Taiwan in much the same way that the U.S. has backed Ukraine. It also expands a ban on U.S. military purchases of Chinese products ranging from drone technology to garlic for military commissaries.
FLORIDA CONDO OWNERS LOOK AT HIGHER COSTS AS NEW REGULATIONS TAKE EFFECT IN THE NEW YEAR
By STEPHANY MATAT and DAVID FISCHER Associated Press
FLORIDA condominium owners are looking at higher costs from condo associations in the new year, a consequence of a safety law passed by state lawmakers in 2022.
It requires associations to have sufficient reserves to cover major repairs and to conduct a survey of reserves every decade. Because of the law, older condos — found largely in South Florida, according to state records — are facing hefty increases to association payments to fund the reserves and repair costs.
Gov. Ron DeSantis signed the law in response to the partial collapse of Champlain Towers South, which killed 98 people in Surfside in June 2021. New regulations require condo associations for buildings with three or more stories to file an inspection report focused on structure, maintenance and expected costs for repairs or renovations by Dec. 31.
The report is just a small sector of the large-scale issue in Florida's condo and property insurance crisis. A May report from the Florida Office of Insurance Regulation noted that the average homeowner's insurance premium is approximately $3,600, about $1,000 more than the national average, according to the National Association of Realtors.
In Hallandale Beach, condo owner Kelli Roiter sympathizes with people having trouble paying the higher fees, but she said
she supports rules requiring associations to maintain reserves for repairs if it means her oceanfront building — built in 1971 — gets the repairs it needs.
She said her building, a few miles from Champlain Towers South, is showing some of the same problems that were visible before that building collapsed.
"I'm concerned that this building will collapse," Roiter said. "There are nights I wake up hearing a creak, and I jump. And then I remind myself that, no, no, no, we're safe. But am I safe?"
Rick Madan, president of the Biscayne Neighborhoods Association, which represents 22 condo associations, said the law is bringing condo owners strife by forcing buildings to take full coverage and bringing forth a blanket solution that doesn't holistically address the crisis.
Madan said the law puts newer condos in the same category of needing reserve funds, inspection reports and recertifications as much older buildings at the expense of the condo owners.
That's especially tough for people who retired in South Florida on fixed incomes, Madan added.
"You're making us do all these reserve studies. You're making us fund our reserves more, so we have to come up with more money," Madan said of the Florida Legislature. "On top of that, you're not giving us any flexibility on the insurance side where the insurance companies are basically making so
Zhang Xiaogang, a Chinese Defense Ministry spokesperson, said earlier this week that the U.S. is hyping up the "so-called" threat from China to justify increased military spending. "U.S. military spending has topped the world and keeps increasing every year," he said at a press conference. "This fully exposes the belligerent nature of the
much profit because they write a policy for $100 million, which they know they'll never have to pay a claim on."
Democratic State Sen. Jason Pizzo, who represented Surfside at the time of the collapse, said he agrees with Madan's point about property insurance.
Pizzo and state Sen. Jennifer Bradley, a Republican, held a condo summit in early December where he warned of transparency among associations about the required projects for repair costs to prevent structural damage.
Pizzo told The Associated Press it is important for associations to have that transparency with condo owners to ensure that the rising payments are truly related to repairs and not to amenity costs, and that it is done within a reasonable timeframe for residents' safety.
He said it's understandable to worry about anticipatory costs but that is why objective inspections of older buildings are necessary.
Nearly 90% of the 1.6 million condos in Florida are more than 30 years old, and Pizzo said it is concerning that they haven't had critical inspections.
"They're going to get a milestone inspection, and they may find some immediate repair or replacement requirements as a result of it," Pizzo said. "That's not really by operation of law. That's by operation of common sense."
Luis Konski, a Miami attorney who deals with construction and
Suzuki Motor former boss Osamu Suzuki, who turned the minicar maker into a global player, dies at 94
By MARI YAMAGUCHI Associated Press
OSAMU Suzuki, the charismatic former boss of Suzuki Motor Corp. who helped turn the Japanese mini-vehicle maker into a globally competitive company, has died, the company said Friday. He was 94. Suzuki was known for his candid remarks and friendliness, calling himself an "old guy from a small to mid-size company." He became CEO of Suzuki in 1978 and was leading the company when it became the first Japanese automaker to start local production in India, where its cars proved hugely popular.
Born on Jan. 30, 1930 as Osamu Matsuda, Suzuki worked in banking after graduating from Tokyo's Chuo University School of Law. He joined Suzuki Motor, which is based in the central Japanese city of Hamamatsu, in 1958 when
he married a daughter of the company's then-president Shunzo Suzuki, who belonged to the company's founding family. As is sometimes the custom in such situations, Matsuda adopted his wife's maiden name. In 1979, a year after he became Suzuki Motor's fourth company president, he launched an affordable minicar, which became a big hit and was promoted to world markets.
Under Suzuki's leadership, the company's sales grew more than tenfold to 3 trillion yen ($19 billion) in the 2000s. . Suzuki also led business tie-ups with other global leaders such as General Motors and Volkswagen AG in the 2000s. Amid intensifying competition and industrial transformation, Suzuki also formed a capital alliance with Toyota Motor Corp. in 2019 to co-develop self-driving vehicles.
While other Japanese automakers have expanded in the U.S. and Chinese markets, offering a wide range of vehicles, Suzuki has stuck with mini and compact cars, mostly in South and Southeast Asia.
Suzuki stressed the importance of understanding the grassroots level.
"Making good quality and low-price products is the basis of manufacturing," Suzuki once told an interview with the broadcaster NHK television.
"We cannot lower costs while sitting in the offices of president or chairperson, so I have to be in a factory to understand the work and get ideas."
Suzuki stepped down as president at age 85 in 2015, handing the post to his son, Toshihiro Suzuki. He served as an advisor to the company after resigning as chairman in 2021.
The company said Suzuki died Wednesday of malignant lymphoma.
U.S. and its obsession with hegemony and expansion."
The Foreign Ministry statement said the U.S. moves violate agreements between the two countries on Taiwan, interfere in China's domestic affairs and undermine the nation's sovereignty and territorial integrity.
Taiwan's government said earlier this month that
China had sent dozens of ships into nearby seas to practice a blockade of the island, a move that Taiwan said undermined peace and stability and disrupted international shipping and trade. China has not confirmed or commented on the reported military activity.
commercial liability cases, said previous condo regulations kept fees low by failing to save money for future repairs, and then owners were hit with special assessments when repairs finally needed to be done. Konski said this encouraged many associations to ignore necessary but expensive maintenance, which is what likely led to the Surfside building collapse. He said he's not sure whether the state has committed enough staff to actually make sure associations are following the new rules. Pizzo echoed similar concerns, saying the state's Department of Business and Professional Regulation might require legislative changes so it can start reviewing structural integrity and inspection reports while continuing to regulate all parts of business
in Florida, including licensing and enforcing rules.
Konski said that if associations can continue to delay maintenance with inaccurate surveys and minimal oversight, it's only a matter of time before another disaster.
"It's a question of do you save money or do you save lives?" Konski said. "You can't do both."
estate agent
condo in
she agrees with the idea of requiring condo associations to maintain reserves for future repairs but acknowledges that the timing is bad when the increased fees are combined with higher insurance costs and recent inflation.
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that I, KAREEN DENVER BRICE of P. O. Box N-7062, Fowler Street off East Street intends to change my name to KAREEM DENVER BRICE. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Offcer, P.O. Box N-742, Nassau, New Providence, Bahamas no later than thirty (30) days after the date of publication of this notice.
THE AMERICAN and Chinese flags wave at Genting Snow Park, Feb. 2, 2022, in Zhangjiakou, China.
Photo:Kiichiro Sato/AP
AN OLDER residential building is undergoing repairs to all of its balconies, Tuesday, Dec. 3, 2024,
in Bal Harbor, Fla.
Photo:Marta Lavandier/AP
Real
Rebeca Castellon, who owns a
Coral Gables, said
NEW 2025 LAWS HIT HOT
TOPICS FROM AI IN MOVIES TO RAPID-FIRE GUNS
By DAVID A. LIEB Associated Press
Artificial intelligence. Abortion. Guns. Marijuana. Minimum wages.
Name a hot topic, and chances are good there's a new law about it taking effect in 2025 in one state or another.
Many of the laws launching in January are a result of legislation passed this year. Others stem from ballot measures approved by voters. Some face legal challenges.
Here's a look at some of the most notable state laws taking effect: Hollywood stars and child influencers
California, home to Hollywood and some of the largest technology companies, is seeking to rein in the artificial intelligence industry and put some parameters around social media stars. New laws seek to prevent the use of digital replicas of Hollywood actors and performers without permission and allow the estates of dead performers to sue over unauthorized AI use.
Parents who profit from social media posts featuring their children will be required to set aside some earnings for their young influencers. A new law also
allows children to sue their parents for failing to do so.
Social media limits New social media restrictions in several states face court challenges. A Florida law bans children under 14 from having social media accounts and requires parental consent for ages 14 and 15. But enforcement is being delayed because of a lawsuit filed by two associations for online companies, with a hearing scheduled for late February.
A new Tennessee law also requires parental consent for minors to open accounts on social media. NetChoice, an industry group for online businesses, is challenging the law. Another new state law requires porn websites to verify that visitors are at least 18 years old. But the Free Speech Coalition, a trade association for the adult entertainment industry, has filed a challenge. Several new California measures aimed at combating political deepfakes are also being challenged, including one requiring large social media platforms to remove deceptive content related to elections and another allowing any individual to sue for damages over the use of AI to create fabricated images or videos in political ads.
School rules on gender
NOTICE
INTERNATIONAL BUSINESS COMPANIES ACT, 2000
Systems
(IN VOLUNTARY LIQUIDATION)
NOTICE IS HEREBY GIVEN that in accordance with section 138(4) of the International Business Companies Act, 2000, as amended, BNA Smart Systems Ltd. is in dissolution.
The dissolution of the said Company commenced on December 18, 2024 when the Articles of Dissolution were submitted to and registered with the Registrar General in Nassau, The Bahamas.
The sole liquidator of the said Company is Kim D Thompson of Equity Trust House, Caves Village, West Bay Street, P O Box N 10697, Nassau, Bahamas.
Kim D Thompson Sole Liquidator
NOTICE IS HEREBY GIVEN as follows:
(a) WEST WIND DYNAMICS LIMITED in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.
(b) The dissolution of the said Company commenced on the 20th day of December A.D., 2024.
(c) The Liquidator of the said Company is Baird One Limited of Deltec House, Lyford Cay, P.O. Box N-3229, Nassau, Bahamas.
Dated this 30th day of December A.D., 2024
Baird One Limited Liquidator
G.A.A. INC.
NOTICE IS HEREBY GIVEN as follows:
(a) G.A.A. INC. is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.
(b) The dissolution of the said Company commenced on the 20th day of December A.D., 2024.
(c) The Liquidator of the said Company is Baird One Limited of Deltec House, Lyford Cay, P.O. Box N-3229, Nassau, Bahamas.
Dated this 30th day of December A.D., 2024
Baird One Limited Liquidator
In a first nationally, California will start enforcing a law prohibiting school districts from adopting policies that require staff to notify parents if their children change their gender identification. The law was a priority for Democratic lawmakers who wanted to halt such policies passed by several districts.
Abortion coverage
Many states have passed laws limiting or protecting abortion rights since the U.S. Supreme Court overturned a nationwide right to the procedure in 2022. One of the latest is the Democratic-led state of Delaware. A law there will require the state employee health plan and Medicaid plans for lower-income residents to cover abortions with no deductible, copayments or other cost-sharing requirements.
Gun control
A new Minnesota law prohibits guns with "binary triggers" that allow for more rapid fire, causing a weapon to fire one round when the trigger is pulled and another when it is released.
In Delaware, a law adds colleges and universities to a list of school zones where guns are prohibited, with exceptions for those working in their official
capacity such as law officers and commissioned security guards.
Medical marijuana
Kentucky is becoming the latest state to let people use marijuana for medical purposes. To apply for a state medical cannabis card, people must get written certification from a medical provider of a qualifying condition, such as cancer, multiple sclerosis, chronic pain, epilepsy, chronic nausea or post-traumatic stress disorder. Nearly four-fifths of U.S. states have now legalized medical marijuana.
Minimum wages
Minimum wage workers in more than 20 states are due to receive raises in January. The highest minimum wages will be in Washington, California and Connecticut, all of which
N O T I C E
G. HOLDINGS LTD.
(In Voluntary Liquidation)
Notice is hereby given that the above-named Company is in dissolution, commencing on the 27th of December 2024. Articles of Dissolution have been duly registered by the Registrar. The liquidator is Peter Cartwright, of Nassau, Bahamas.
Dated this 27th day of December 2024.
PETER CARTWRIGHT LIQUIDATOR
NOTICE IS HEREBY GIVEN as follows:
(a) K1718 Corporation in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.
(b) The dissolution of the said Company commenced on the 20th day of December A.D., 2024.
(c) The Liquidator of the said Company is Baird One Limited of Deltec House, Lyford Cay, P.O. Box N-3229, Nassau, Bahamas.
Dated this 30th day of December A.D., 2024
Baird One Limited Liquidator
will top $16 an hour after modest increases.
The largest increases are scheduled in Delaware, where the minimum wage will rise by $1.75 to $15 an hour, and in Nebraska, where a ballot measure approved by voters in 2022 will add $1.50 to the current minimum of $12 an hour.
Twenty other states still follow the federal minimum wage of $7.25 an hour.
Safer traveling
In Oregon, using drugs on public transit will be considered a misdemeanor crime of interfering with public transportation. While the measure worked its way through the legislature, multiple transportation officials said drug use on buses and trains, and at transit stops and stations, was making passengers and drivers feel less safe.
In Missouri, law enforcement officers have spent the past 16 months issuing warnings to motorists that handheld cellphone use is illegal. Starting with the new year, penalties will kick in: a $150 fine for the first violation, progressing to $500 for third and subsequent offenses and up to 15 years imprisonment if a driver using a cellphone cause an injury or death.
But police must notice a primary violation, such as speeding or weaving across lanes, to cite motorists for violating the cellphone law.
Montana is the only state that hasn't banned texting while driving, according to the National Conference of State Legislatures.
Tax breaks
Tenants in Arizona will no longer have to pay tax on their monthly rent, thanks to the repeal of a law that had allowed cities and towns to impose such taxes. While a victory for renters, the new law is a financial loss for governments. An analysis by Arizona's nonpartisan Joint Legislative Budget Committee estimated that $230 million would be lost in municipal tax revenue during the first full fiscal year of implementation.
Meanwhile Alabama will offer tax credits to businesses that help employees with child care costs.
Kansas is eliminating its 2% sales tax on groceries. It also is cutting individual income taxes by dropping the top tax rate, increasing a credit for child care expenses and exempting all Social Security income from taxes, among other things. Taxpayers are expected to save about $320 million a year going forward.
Voting rights
An Oklahoma law expands voting privileges to people who have been convicted of felonies but had their sentences discharged or commuted, including commutations for crimes that have been reclassified from felonies to misdemeanors. Former state Sen. George Young, an Oklahoma City Democrat, carried the bill in the Senate.
"I think it's very important that people who have gone through trials and tribulations in their life, that we have a system that brings them back and allows them to participate as contributing citizens," Young said.
NOTICE IS HEREBY GIVEN as follows:
(a) Sunni Limited in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.
(b) The dissolution of the said Company commenced on the 20th day of December A.D., 2024.
(c) The Liquidator of the said Company is Baird One Limited of Deltec House, Lyford Cay, P.O. Box N-3229, Nassau, Bahamas.
Dated this 30th day of December A.D., 2024
Baird One Limited Liquidator
DIRECTOR of Photography Jac Cheairs and his son, actor Wyatt Cheairs, 11, take part in a rally by striking writers and actors outside Netflix studio in Los Angeles on Friday, July 14, 2023. Photo:Chris Pizzello/AP
Trump asks Supreme Court to delay TikTok ban so he can weigh in after he takes office
By HALELUYA HADERO and MICHELLE L. PRICE Associated Press PRESIDENT-ELECT
Donald Trump asked the Supreme Court on Friday to pause the potential TikTok ban from going into effect until his administration can pursue a "political resolution" to the issue.
The request came as TikTok and the Biden administration filed opposing briefs to the court, in which the company argued the court should strike down a law that could ban the platform by Jan. 19 while the government emphasized its position that the statute is needed to eliminate a national security risk.
"President Trump takes no position on the underlying merits of this dispute. Instead, he respectfully requests that the Court consider staying the Act's deadline for divestment of January 19, 2025, while it considers the merits of this case," said Trump's amicus brief, which supported neither party in the case and was written by D. John Sauer, Trump's choice for solicitor general.
The argument submitted to the court is the latest example of Trump inserting himself in national issues before he takes office. The Republican president-elect has already begun negotiating with other countries over his plans to impose tariffs, and he intervened earlier this month in a plan to fund the federal government, calling for a bipartisan plan
to be rejected and sending Republicans back to the negotiating table. He has been holding meetings with foreign leaders and business officials at his Mar-a-Lago club in Florida while he assembles his administration, including a meeting last week with TikTok CEO Shou Chew.
Trump has reversed his position on the popular app, having tried to ban it
during his first term in office over national security concerns. He joined the TikTok during his 2024 presidential campaign and his team used it to connect with younger voters, especially male voters, by pushing content that was often macho and aimed at going viral.
He said earlier this year that he still believed there were national security risks
THE TIKTOK Inc. building is seen in Culver City, Calif., March 17, 2023.
with TikTok, but that he opposed banning it.
The filings Friday come ahead of oral arguments scheduled for Jan. 10 on whether the law, which requires TikTok to divest from its China-based parent company or face a ban, unlawfully restricts speech in violation of the First Amendment. The law was was signed by President Joe Biden in April after it passed Congress with broad bipartisan support. TikTok and ByteDance filed a legal challenge afterwards.
Earlier this month, a panel of three federal judges on the U.S. Court of Appeals for the District of Columbia Circuit unanimously upheld the statute, leading TikTok to appeal the case to the Supreme Court.
The brief from Trump said he opposes banning TikTok at this junction and "seeks the ability to resolve the issues at hand through political means once he takes office."
In their brief to the Supreme Court on Friday, attorneys for TikTok and
its parent company ByteDance argued the federal appeals court erred in its ruling and based its decision on "alleged 'risks' that China could exercise control" over TikTok's U.S. platform by pressuring its foreign affiliates. The Biden administration has argued in court that TikTok poses a national security risk due to its connections to China. Officials say Chinese authorities can compel ByteDance to hand over information on TikTok's U.S. patrons or use the platform to spread or suppress information. But the government "concedes that it has no evidence China has ever attempted to do so," TikTok's legal filing said, adding that the U.S. fears are predicated on future risks.
In its filing Friday, the Biden administration said because TikTok "is integrated with ByteDance and relies on its propriety engine developed and maintained in China," its corporate structure carries with it risk.
WINNING TICKET FOR $1.22 BILLION LOTTERY JACKPOT SOLD IN CALIFORNIA, MEGA MILLIONS SAYS
By The Associated Press
AT least one Mega Millions player has plenty of dough to ring in the New Year after drawing the winning number. After three months without anyone winning the top prize in the lottery, a ticket worth an estimated $1.22 billion was sold in California for the drawing Friday night, according to the Mega Millions website. The California Lottery said the winning ticket was sold at Circle K (Sunshine Food and Gas) on Rhonda Road in Cottonwood, about 150 miles (240 kilometers) north
of Sacramento. The winning ticket matched the white balls 3, 7, 37, 49, 55 and the gold Mega Ball 6. Ishar Gill, a son of the store owner, said the winning ticket was "a blessing" for the small rural town of roughly 6,000 people. The identity of the winner or winners was not immediately known. "We don't have the slightest clue of who may have won it or who may have sold it," Gill told The Associated Press. "But congratulations to the winner." The total amount of the Mega Millions jackpot would only be distributed to a winner who chooses an annuity paid over 29 years. Nearly all grand prize winners opt to take a cash payout, which for Friday night's drawing is an estimated $549.7 million.
Despite the game's long odds of 1 in 302.6 million, players continued to purchase tickets as the size of the grand prize grew. Until Friday, the last time a Mega Millions player hit the top prize was Sept. 10. The largest-ever Mega Millions jackpot ticket worth $1.6 billion was sold in Florida in August 2023. Two prizes for its compatriot Powerball lottery have been larger. Mega Millions and Powerball are sold in 45 states, as well as Washington, D.C., and the U.S. Virgin Islands. Powerball also is sold in Puerto Rico. Mega Millions ticket prices are set to rise from $2 to $5 in April. The increase will be one of many changes that officials say will result in improved jackpot odds, more frequent giant prizes and even larger payouts.
Photo:Damian Dovarganes/AP
Photo:Rich Pedroncelli/AP
Wall Street slips as the 'Magnificent
weighs down the market
By DAMIAN J. TROISE AP Business Writer
STOCKS fell broadly on Friday as Wall Street closed out a holiday-shortened week on a down note.
The losses were made worse by sharp declines for the Big Tech stocks known as the "Magnificent 7", which can heavily influence the direction of the market because of their large size.
The S&P 500 fell 66.75 points, or 1.1%, to 5,970.84. Roughly 90% of stocks in the benchmark index lost ground, but it managed to hold onto a modest gain of 0.7% for the week.
The Dow Jones Industrial Average fell 333.59 points, or 0.8%, to 42,992.21. The tech-heavy Nasdaq composite fell 298.33 points, or 1.5%, to 19,722.03.
Semiconductor giant Nvidia slumped 2.1%. Microsoft declined 1.7%. Each has a market value above $3 trillion, giving the companies outsized sway
on the S&P 500 and the Nasdaq. A wide range of retailers also fell. Amazon fell 1.5% and Best Buy slipped 1.5%.
The sector is being closely watched for clues on how it performed during the holiday shopping season. Energy stocks held up better than the rest of the market, with a loss of less than 0.1% as crude oil prices rose.
"There's just some uncertainty over this relief rally we've witnessed since last week," said Adam Turnquist, chief technical strategist for LPL Financial.
The S&P 500 gained nearly 3% over a 3-day stretch before breaking for the Christmas holiday. On Thursday, the index posted a small decline.
Despite Friday's drop, the market is moving closer to another standout annual finish. The S&P 500 is on track for a gain of around 25% in 2024. That would mark a second consecutive yearly gain of more than
20%, the first time that has happened since 1997-1998.
The gains have been driven partly by upbeat economic data showing that consumers continued spending and the labor market remained strong. Inflation, while still high, has also been steadily easing.
A report on Friday showed that sales and inventory estimates for the wholesales trade industry fell 0.2% in November, following a slight gain in October. That weaker-thanexpected report follows an update on the labor market Thursday that showed
unemployment benefits held steady last week.
The stream of upbeat economic data and easing inflation helped prompt a reversal in the Federal Reserve's interest rate policy this year. Expectations for interest rate cuts also helped drive market gains. The central bank recently delivered its third cut to interest rates in 2024. Even though inflation has come closer to the central bank's target of 2%, it remains stubbornly above that mark and worries about it heating up again have tempered the forecast for more interest rate cuts.
Inflation concerns have added to uncertainties heading into 2025, which include the labor market's path ahead and shifting economic policies under incoming President Donald Trump. Worries have risen that Trump's preference for tariffs and other policies could lead to higher inflation, a bigger U.S.
government debt and difficulties for global trade.
Amedisys rose 4.7% after the home health care and hospice services provider agreed to extend the deadline for its sale to UnitedHealth Group. The Justice Department had sued to block the $3.3 billion deal, citing concerns the combination would hinder access to home health and hospice services in the U.S.
The move to extend the deadline comes ahead of an expected shift in regulatory policy under Trump. The incoming administration is expected to have a more permissive approach to dealmaking and is less likely to raise antitrust concerns.
In Asia, Japan's benchmark index surged as the yen remained weak against the dollar. Stocks in South Korea fell after the main opposition party voted to impeach the country's acting leader. Markets in Europe gained ground.
MARINE FORECAST
THE NEW York Stock Exchange is shown behind the statue titled “Fearless Girl”, Thursday, Dec. 12, 2024, in New York. Photo:Julia Demaree Nikhinson/AP