Select Page ::

Saint-Nazaire Export Cable Installation Kicks Off – Offshore WIND

Posted on August 12, 2020 by Danzig

Prysmian has started installing the export cables which will connect the 480 MW Saint-Nazaire offshore wind farm to the French grid.

The Italian cable manufacturer deployed its cable-laying vessel Cable Enterprise on the project.

The cable pull-in operations started off the Courance beach on Sunday, 9 August, Rseau de Transport dlectricit (RTE), the French transmission system operator, said.

Back in 2017, RTE selected Prysmian to develop and deliver submarine cable links to connect three offshore wind farms to the French grid, including the Saint-Nazaire wind farm off Loire-Atlantique.

Prysmian is in charge of the design, supply, installation, testing, and commissioning of two high-voltage export power cable links for each of the three offshore wind farms being developed by Eolien Maritime France (EMF), a joint venture company owned by EDF Renewables and Canadas Enbridge.

In total, Prysmian will install 33 kilometres of submarine cables and 27 kilometres of underground cables to connect the wind farm to the grid.

TheSaint-Nazaireoffshore wind farm, also known as Parc du Banc de Gurande, will comprise 80 GE Haliade 150-6MW turbines manufactured in France and scheduled to be operational in the summer of 2022.

Prysmian will also deliver and install the wind farms inter-array cables in consortium with Louis Dreyfus TravOcean.

More here:

Saint-Nazaire Export Cable Installation Kicks Off - Offshore WIND

Demand For Offshore Oil Rigs To Return In 2022 – OilPrice.com

Posted on August 12, 2020 by Danzig

Demand for offshore rigs will slump this year as a result of the pandemic and the low oil prices that are forcing offshore operators to delay drilling activities, but the offshore rig industry is set for a comeback in 2022, IHS Markit said in an analysis on Thursday.

Due to the unprecedented challenges of COVID-19 and the subsequent crash in oil demand, most operators that were expected to award contractor work offshore have pushed the timelines to next year at the earliest, Cinnamon Edralinis, Senior Offshore Rig Market Analyst at IHS Markit, said.

The drillship market should expect pent-up demand in 2022, with demand rising from this years levels through 2021 and 2022. Global demand for drillships is forecast to average 73 units over 2022, up from 66 units for 2021 and 59 units through 2020, according to IHS Markit.

Most of the drillship demand will be concentrated in South America and West Africa, the consultancy said. In South America, Brazil will be a major hotspot for drillship demand in 2022, alongside Guyana with ExxonMobils major discoveries, as well as Suriname, where Apache and Total have just made a new major oil discovery.

Drillship demand in the U.S. Gulf of Mexico, however, is expected to see demand next year down from 17 to 14 units, as some operators wait a bit longer for market conditions to stabilize before awarding new work, IHS Markit said.

In the semi segment, recovery is not expected to occur in the short term, because the semi market had not started to recover from the previous crash when the pandemic hit.

In the jackup segment, demand is set to be relatively flat between 2020 and 2022, possibly with a slight dip, according to IHS Markit, which had expected strong recovery in jackup demand earlier this year, before the pandemic and the oil price crash upended all previous projections.

By Tsvetana Paraskova for Oilprice.com

Joe Biden To Shut Down US Offshore Oil Manufacturing if Elected? – The Shepherd of the Hills Gazette

Posted on August 12, 2020 by Danzig

Guest Bidens American Energy Impotence by David Middleton

What would a Joe Biden win mean for oil and gas?As Biden nudges ahead in the polls, the US oil and gas industry should prepare for far-reaching potential changes

29 July 2020

Justin RostantPrincipal Analyst US Gulf of Mexico Upstream

With analysis from Julie Wilson, Research Director Global Exploration, Ed Crooks, Vice-chair, Americas and Rowena Gunn, Research Analyst

()

The most eye-catching of Bidens proposals for the offshore industry is a promise to ban new oil and gas permitting on public lands and waters.

He also plans new protections for the Arctic National Wildlife Refuge and other areas President Trump has sought to open up for oil and gas development, including the eastern Gulf of Mexico (GoM).

How much does the oil and gas industry stand to lose if Bidens policies are enacted?

Bidens plans lack clarity: its unclear which permits would be included in his proposed ban. But by any definition, the impact on investment, production and tax revenues would be substantial.

How stringently the measures are applied which could range from the least restrictive option of not awarding new exploration leases to the most draconian: putting a complete stop to oil and gas production will be important.

The devil is in the detail: Bidens proposed policies by the numbers

Each step towards tighter restrictions would wipe out tens of billions of dollars of capex.

So how do the numbers stack up?

In our base case, total remaining estimated capex is US$276 billion.

If no new leases are awarded under the least restrictive scenario, US$76 billion of that spending would be lost. And that would escalate if the measures were applied more stringently.

Nearly 25 billion boe is yet to be produced from the US GoM and Alaska. The least restrictive application of Bidens policy banning new leasing and drilling of exploration wells would wipe out almost 12 billion boe of potential future production.

And in the worst case, shutting in all production would mean giving up that 25 billion boe in its entirety.

()

Explorers could miss out on US$20 billion of potential value. And government coffers would be US$135 billion lighter.

If production in the US GoM is shut in, this could be catastrophic: US$340 billion in revenue over the first ten years would be wiped out. Meanwhile, more than 1 billion barrels of economically viable reserves could be left in the ground in Alaska, which would dash hopes for sustained growth in the region.

And that could open the US government to potential legal challenges

Upstream producers have already sunk billions of dollars into exploration and development projects, the value of which could be eradicated.

In US GoM alone, companies have invested over US$180 billion since 2005, developing discoveries on the premise that they will be able to produce these resources.

()

Wood Mackenzie

It would open the US government to potential legal challenges and they would get their @$$es kicked in court. The leases were issued under laws passed by Congress. The laws require the Federal government to allow the lessees to develop the mineral resources under the leases. Once the Federal government issues a lease in the Gulf of Mexico, the operator owns the mineral resources, subject to the terms of the lease agreement (a legally binding contract). If the government simply declared an prohibition of new oil and gas permitting on public lands and waters, without fairly compensating the lease owners, it would be violating the Takings Clause of the United States Constitution, not to mention serial breaches of contracts.

As the WoodMac article notes: The devil is in the detail And we have not heard any details, just, often contradictory, phrases from Biden. He has clearly stated that he would ban fracing

During the primary season, as he worked to secure the votes of his Partys left-leaning voter base, Mr. Biden has promised at various times to enforce a policy ofno new frackingin his administration; to end the use of oil and natural gas in the United States; and to end new drilling on federal lands in the U.S. While promises like those and others played well to the voters in Party primaries around the country, they have the potential to come back to haunt Biden during the general election in key swing states like Michigan, Pennsylvania, Ohio and New Mexico, where the industry supports hundreds of thousands of jobs and the state governments rely heavily on income from oil and gas taxes.

Forbes, June 11, 2020

No new fracking = A ban on fracing.

However, Biden has also said that he would not ban fracing:

Shut down the fracking industry? NoDuring an interview in April, Biden told KDKA television in Pittsburgh that he would not shut down the fracking industry. He said that he would not allow new leases on federal land, adding that 90% of the leases are on private land.

I would make sure the water is not being contaminated, but I would not shut it down, no, he said.

USA Today, June 19, 2020

Firstly, I dont know what the fracking industry is, and Ive been petroleum geologist for almost 40 years. Secondly, if you read the USA Today fact check in its entirety, its pretty clear that neither Joe Biden, nor the USA Today knows what fracing is.

Are Bidens comments about banning new oil and gas permitting on public lands and waters, something to be taken literally? Or simply a phrase he doesnt understand?

While a ban on new oil and gas permitting on public lands and waters wouldnt immediately drop Gulf of Mexico oil production to zero-point-zero, it eventually would do just that.

According to a study prepared for the National Offshore Industries Association (NOIA):

Impact of No New Drilling Permits Being Issued

Another potential restrictive policy change that has been advanced for the Gulf of Mexico offshore oil and natural gas industry is that regulatory authorities no longer issue new drilling permits for Gulf of Mexico wells. This scenario assumes that no new drilling permits would be issued from 2022, but that existing permits would be unaffected, and that no other major policy or regulatory changes impacting the Gulf of Mexico offshore oil and natural gas industry would be enacted.

Average combined oil and natural gas production across the forecast period is projected to decline from around 2.5 million barrels of oil equivalent per day to 1.1 million barrels of oil equivalent per day (an over 55 percent decline). In 2040, combined oil and natural gas production is projected to be around 323 thousand barrels of oil equivalent per day compared to 1.96 million barrels in the Base Case.

Average annual employment supported is projected to decline to 179 thousand jobs from around 370 thousand jobs nationally (a 52 percent decline).

Average annual contributions to GDP are projected at $14.2 billion, around a 55 percent reduction compared to contributions of $31.3 billion in the Base Case.

Government revenues are projected at an average of around $2.7 billion per year, a 61 percent reduction from the $7 billion per year projected in the Base Case.

State revenue sharing under the Gulf of Mexico Energy Security Act (GOMES) is projected to fall to an average of around $273 million per year, compared to around $374 million in the Base Case (a 27 percent reduction). LWCF funding, including GOMESA and non-GOMESA offshore funding is project to fall to just under $585 million a year compared to $1.3 in the Base Case.

NOIA

All operations in the Federal waters of the Gulf of Mexico require permits And production can only be maintained through ongoing operations. Right now, the Gulf of Mexico is the second most productive oil province in the US, with massive remaining growth potential. The Gulf of Mexico is second only to the Permian Basin.

Figure 1.Source:U.S. Energy Information Administration,Short-Term Energy Outlook, November 2019

The only one of those regions that wouldnt be eviscerated by a fracing ban, is the Gulf of Mexico. However, a ban on new oil and gas permitting on public lands and waters would be devastating.

Figure 2. A Biden ban on new oil and gas permitting on public lands and waters would cut GOM oil production in half by 2028 and by nearly 80% by 2040. (NOIA)

On top of the reckless destruction of value, a ban on new oil and gas permitting on public lands and waters would also drive many, if not most, operators into bankruptcy, leaving them financially incapable of properly abandoning and retiring billions of dollars of infrastructure that was just rendered worthless by the government.

Hurricanes in 2005 (Katrina & Rita) and 2008 (Ike) inflicted extensive damage on Gulf of Mexico oil & gas infrastructure, depressing production by about 250,000 bbl/d from 2006-2008. The Obama maladministrations unlawful drilling moratorium and permitorium in response to the Deepwater Horizon blowout and oil spill depressed production by about 500,000 bbl/d from 2011-2013.

Figure 3. Gulf of Mexico OCS oil production.US EIA

Since then, Gulf of Mexico oil production hassurged to record levels, topping 2 million barrels per day in 2019. Due to the COVID-19 shutdown, production has fallen off a bit, however EIA forecasts that it will remain relatively flat for 2020-2021.

EIA forecasts GOM production to remain relatively flat, averaging 1.9 million b/d in 2020 and 2021, nearly unchanged from its 2019 average. In addition, EIA expects no cancellation in announced GOM projects for 2020 and 2021. EIA forecasts that crude oil production from Alaska will remain at an average of 460,000 b/d in 2020 and that it will increase slightly in 2021.

EIA, May 14, 2020

Table 1. Gulf of Mexico Average Daily Production (2018 2020) EIA

EIA forecasts global oil consumption to recover to pre-lockdown levels by Q3 2021.

Figure 4. August 2020, Short Term Energy Outlook (EIA)

US motor gasoline demand has revovered to 8.6 million bbl/d from a lock-down low of 5.3 million bbl/d and is only about 1 million bbl/d lower than it was in August 2019.

Figure 5. This Week in Petroleum, August 5, 2020 (EIA)

The US economy is still far from being fully reopened Yet gasoline demand has already recovered 3/4 of the way to normal. Assuming the economy continues to recover, oil demand will continue to recover. If Joe Biden gets elected and delivers on his promise to ban new oil and gas permitting on public lands and waters, where will he get the roughly 2 million bbl/d of crude oil that he just took off the table? Saudi Arabia? Russia?

Personally, I tend to think that if the unthinkable happens and Biden wins in November, his maladministration will be more akin to than of Obamas and not a Sanders|Ocasio-Cortez|Warren Green New Deal Cultural Revolution. He will make it more difficult for us to do business in the Gulf of Mexico and he will not open any of the currently off limits areas. I dont think he would even think about trying to shut down leasing and drilling in the areas of the Gulf of Mexico that have been open for about 70 years and comprise our nations second most important source of domestically produced crude oil. But I could be wrong.

Like Loading

What to consider when accessing your offshore funds to improve cashflow – IOL

Posted on August 12, 2020 by Danzig

By Supplied 2h ago

Share this article:

FNB has seen an increase in a number of its private banking clients with offshore investments bringing them back into the country, as a result of cash-flow constraints brought about by the Covid-19 pandemic and a rocky economic climate.

The common perception is that the process of bringing offshore funds back into the country is a complex one, however in most instances this can be done relatively quick and easily if the correct procedures are followed. Similarly, applying the right protocols will also ensure that the funds can be invested offshore again if they are no longer needed in South Africa, without any unnecessary fees or additional regulatory implications.

Chantal Robertson, part of the Global Solutions Team at FNB Premium, says: If you are a South African resident who has made the informed decision to repatriate offshore funds back to South Africa, the good news is that the process is relatively simple and straightforward. Although it is vital to follow the right processes in order to ensure compliance and avoid any unnecessary fees.

Similarly, following due processes will ensure that these funds, or a portion thereof, can simply be taken offshore again in the future.

The below are key things you need to consider when planning to tap into your offshore funds:

Annual Discretionary Allowance

All South African residents, 18 years and older, are entitled to an annual Single Discretionary Allowance of R1 million which can be used for many purposes including travel, gifting and foreign investment. In addition, individuals are also entitled to a Foreign Investment Allowance of R10 million, subject to tax clearance.

This means that those funds, plus any related income derived offshore from them, are regarded as offshore assets and you are under no obligation to bring these funds back into the country. Similarly, any foreign earnings generated while living and working abroad are also exempt, as well as foreign inheritances received from non-residents, says Robertson.

Robertson explains that since there is no requirement for you to bring any of these legitimate offshore funds back to South Africa, if you choose to do so then the rand equivalent of the money you brought into the country is re-transferable out of the country again at any point in the future. Importantly, if these funds do leave the country again, they are not deemed to be part of either your annual Single Discretionary Allowance or Foreign Investment Allowance.

No additional tax clearance required

In addition, there is no additional tax clearance requirement for such transfers. However, it is imperative that the incoming funds are reported as a disinvestment of capital on the Cross-Border Reporting System, which is the 511 Balance of Payment series.

Retain reference details

It is vital that one retains the relevant transaction reference details, such as the deal number and deal confirmation. This is the only information that we, as a bank, would require should you wish to re-transfer these funds abroad again when your local cash flow is stronger.

With this said, the decision to bring funds back into the country should not be taken lightly. Before you make any decision, speak to your wealth manager for professional advice in this regard, said Robertson.

PERSONAL FINANCE

Read the rest here:

What to consider when accessing your offshore funds to improve cashflow - IOL

New GE Simulations on Summit to Advance Offshore Wind Power – HPCwire

Posted on August 12, 2020 by Danzig

The wind energy sector is a frequent user of high-power simulations, with researchers aiming to optimize wind flows and energy production from the massive turbines. Now, researchers at GE are preparing to undertake a large wind energy simulation effort on the Summit supercomputer, aiming to advance the potential of offshore wind. Led by Jing Li, a research aerodynamics engineer at GE, the researchers will use Summit to conduct simulations hitherto computationally infeasible.

Despite being recently dethroned by RIKENs Fugaku system as the most powerful publicly ranked supercomputer as of the most recent Top500 list, Summit remains the runner-up, weighing in at a whopping 148.6 petaflops of computing power (and over 340 tons of iron). Summits 4,608 nodes each equipped with two IBM Power9 CPUs and six Nvidia Volta GPUs are supported by 250 petabytes of storage and Mellanox InfiniBand EDR 100 Gbps networking. And at 13 MW, Summits power footprint is on par with the peak output of around four or five onshore wind turbines.

The Summit supercomputer will allow our GE team to run computations that would be otherwise impossible, Li said. This research could dramatically accelerate offshore wind power as the future of clean energy and our path to a more sustainable, safe environment.

Specifically, the simulations will examine coastal low-level jets, which produce distinct wind velocity effects crucial to operating and optimizing offshore wind turbines. Offshore turbines, of course, face much different challenges and opportunities than onshore turbines: the winds are often much stronger, but the wind behaves differently and the tumultuous environment presents particular dangers.

A video of one of GEs wind simulations from a previous project.

Were now able to study wind patterns that span hundreds of meters in height across tens of kilometers of territory down to the resolution of airflow over individual turbine blades, Li said. You simply couldnt gather and run experiments on this volume and complexity of data without a supercomputer. These simulations allow us to characterize and understand poorly understood phenomena like coastal low-level jets in ways previously not possible.

This undertaking will happen in collaboration with the ExaWind project at the National Renewable Energy Laboratory (NREL), which is aiming to bring wind energy simulation into the exascale era. Scientists at NREL and [Oak Ridge National Laboratory] are part of a broader team that have built up a tremendous catalog of new software code and technical expertise with ExaWind, Li said, and we believe our project can discover critical new insights that support and validate this larger effort.

Follow this link:

New GE Simulations on Summit to Advance Offshore Wind Power - HPCwire

Construction Permit Sought for Connecticut Offshore Wind Hub – Offshore WIND

Posted on August 12, 2020 by Danzig

The Connecticut Port Authority has applied for a permit from the U.S. Army Corps of Engineers for proposed work in the Thames River at State Pier, New London, Connecticut.

The proposed project would serve as a long-term, regional offshore wind port facility while continuing to support other existing long-term breakbulk cargo operations.

The proposed two-phase State Pier infrastructure improvement project includes demolition activities, fill between the two existing piers, onshore site work, and in-water activities in the Thames River.

The U.S. Army Corps of Engineers is now soliciting comments from members of the public, federal, state, local agencies; Indian Tribes, and other interested parties to consider and evaluate the impacts of this proposed activity. Public comments should be forwarded no later than 3 September.

The Connecticut Port Authority, Gateway Terminal, rsted, and Eversource reached a final agreement on the USD 157 million State Pier project in February.

The first phase of construction to complete the facility infrastructure upgrades to meet the heavy-lift requirements of rsted and Eversources offshore wind projects is expected to begin in early 2021 and continue through August 2022.

Following the completion of the infrastructure upgrade project, the rsted and Eversource joint venture company will enter into a ten-year lease agreement, which will allow it to use State Pier for wind turbine generator pre-assembly and staging to power their Revolution Wind, Sunrise Wind, and South Fork Wind projects with a combined capacity of more than 1.7 GW, including 304 MW coming to Connecticut through Revolution Wind.

During periods where rsted and Eversource are not using State Pier, Gateway Terminal, the terminal operator, will market the facility to other customers to ensure maximum utilization of State Pier.

Excerpt from:

Construction Permit Sought for Connecticut Offshore Wind Hub - Offshore WIND

Mobile Offshore Drilling Unit (MODU) Market 2019-2023 | Increase in Offshore Oil And Gas Drilling Activities to Boost Growth | Technavio – Business…

Posted on August 12, 2020 by Danzig

LONDON--(BUSINESS WIRE)--Technavio has been monitoring the mobile offshore drilling unit (MODU) market and it is poised to grow by USD 4.92 bn during 2019-2023, progressing at a CAGR of almost 9% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Latest Free Sample Report on COVID-19 Impact

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Diamond Offshore Drilling Inc., Nabors Industries Ltd., Noble Corp. Plc, Samsung Heavy Industries Co. Ltd., and Transocean Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

An increase in offshore oil and gas drilling activities has been instrumental in driving the growth of the market.

Mobile Offshore Drilling Unit (MODU) Market 2019-2023 : Segmentation

Mobile Offshore Drilling Unit (MODU) Market is segmented as below:

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR31892

Mobile Offshore Drilling Unit (MODU) Market 2019-2023 : Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our mobile offshore drilling unit (MODU) market report covers the following areas:

This study identifies technical advances as one of the prime reasons driving the mobile offshore drilling unit (MODU) market growth during the next few years.

Mobile Offshore Drilling Unit (MODU) Market 2019-2023 : Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the mobile offshore drilling unit (MODU) market, including some of the vendors such as Diamond Offshore Drilling Inc., Nabors Industries Ltd., Noble Corp. Plc, Samsung Heavy Industries Co. Ltd., and Transocean Ltd. Backed with competitive intelligence and benchmarking, our research reports on the mobile offshore drilling unit (MODU) market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

Technavio's SUBSCRIPTION platform

Mobile Offshore Drilling Unit (MODU) Market 2019-2023 : Key Highlights

Table Of Contents :

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

PART 04: MARKET SIZING

PART 05: FIVE FORCES ANALYSIS

PART 06: MARKET SEGMENTATION BY TYPE

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

PART 11: MARKET TRENDS

PART 12: VENDOR LANDSCAPE

PART 13: VENDOR ANALYSIS

PART 14: APPENDIX

PART 15: EXPLORE TECHNAVIO

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavios report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavios comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

More here:

Mobile Offshore Drilling Unit (MODU) Market 2019-2023 | Increase in Offshore Oil And Gas Drilling Activities to Boost Growth | Technavio - Business...

Trump Health-Care Agenda Still a Work in Progress – The Wall Street Journal

Posted on August 12, 2020 by Danzig

WASHINGTONPresident Trump has missed a self-imposed deadline to release a comprehensive health-care plan and has said he would issue an executive order on pre-existing conditions that public-health specialists believe would be difficult to execute because of legal and economic hurdles.

Mr. Trump said Friday that over the next two weeks he would be pursuing a major executive order requiring health insurance companies to cover all pre-existing conditions for all customers. The Obama-era Affordable Care Act already requires that, but the administration is supporting a Republican-led lawsuit that could invalidate the health law.

In a July 19 interview on Fox News Sunday, Mr. Trump said: Were signing a health-care plan within two weeks, a full and complete health-care plan. The two-week mark passed in early August with no action by the president.

The recent pledges have drawn attention to a challenge facing Mr. Trump: Neither he nor his campaign have identified a second-term health-care agenda, and his administration lacks a clear plan if the Supreme Court strikes down the ACA. The Supreme Court appears unlikely to hear the case before Election Day.

White House spokesman Judd Deere said that Mr. Trump has already accomplished a lot on the health front. While Democrats have continued to propose radical plans that would destroy the health insurance of millions of Americans, President Trump continues to work to improve health care more broadly and stabilize the market, including creating a system that protects the vulnerable, lowers prescription drug costs, increases transparency and delivers the affordability Americans need, the choice and control they want, and the quality they deserve, Mr. Deere said.

Go here to read the rest:

Trump Health-Care Agenda Still a Work in Progress - The Wall Street Journal

Ketchum hotel has three weeks show progress – Idaho Mountain Express and Guide

Posted on August 12, 2020 by Danzig

The developer of a stalled hotel project at the southern entrance to Ketchum has less than a month to show meaningful work on the construction site, or else see his building permit suspended.

Jack Bariteau, developer of the proposed Harriman Hotel, will have until Aug. 31 to show specific progress on the project, according to a letter sent to Bariteau by Ketchum City Administrator Suzanne Frick. At minimum, that means completing all the footings at the northeast section of the building and pouring at least 40 yards of concrete for structures related to the project, the letter states.

In an email to the Mountain Express, Frick explained that a site visit by city building officials scheduled to occur by June 1 never took place. Instead, she and Building Inspector Jim Lynch reviewed information previously provided by the developers contractor that showed soil testing completed in February.

The question was whether or not the work and testing that occurred in February qualified as continuous work under the building code, Frick said. After review, the Division of Building Safety and the city have determined the February work does not qualify and additional work must occur to maintain the building permit.

Excavation of the proposed hotel site began in 2016, but since then the project has not seen much progress. Per a development agreement between the city and Bariteau, the hotel needs to be completed by December 2021, with site inspections every 180 days to monitor progress.

We recognize COVID-19 has had some impact on construction activities, Frick stated in her letter, dated July 29. Therefore, an extension of the next inspection date will be authorized.

The next inspection must occur by Aug. 31.

According to Frick, if the outlined work is not completed by Aug. 31, the city will determine the next steps to take. At this time, there has been no violation of the development agreement between Bariteau and the city, Frick said.

Since the development agreement was reached in 2008, Bariteau has obtained five extensionsin 2010, 2012, 2013, 2015 and 2018due to lack of funding, flooding in the area and the Great Recession. The Harriman Hotel was previously proposed to be an addition to the Auberge Resort Collection, and at that time was projected to have 62 rooms and 12 residences.

Link:

Ketchum hotel has three weeks show progress - Idaho Mountain Express and Guide

From promising progress on blood test to impact of video chat, Alzheimers research persists in pandemic – KGW.com

Posted on August 12, 2020 by Danzig

Face-to-face interaction through technology like video chat can help those dealing with social isolation during the pandemic.

PORTLAND, Ore. A blood test for Alzheimers disease and the impact of face-to-face video chats for seniors; both are encouraging research from an international conference.

Social isolation in seniors is a problem that has been magnified by the global pandemic, but research into a remedy has been ongoing for years.

Really, its a huge public issue, Dr. Hiroko Dodge said.

Dr. Hiroko Dodge is a professor and researcher at Oregon Health and Science University. Her work focuses on the impact of social isolation on seniors and how new technology can make a positive difference.

Social isolation was found to impact our health very deeply, Dodge said. Socially isolated people not only die earlier, but also have developed more comorbidities; like diabetes, obesity, heart disease, stroke, all of this.

However, Dodge said theres good news: face-to-face interaction through technology like video chat can help. For about the past two decades Dodge has researched how programs like Zoom, Skype, and Facetime can improve cognition in our aging population.

The study called the internet-based conversational engagement clinical trial or I-CONECT, follows people ages 75 and older for about six months. Half connect with people on the phone. The other half get regular social video chats.

Then see how social interaction, face-to-face interaction, can improve our cognition and hopefully this will become our sort of remedy for socially isolated people, Dodge said.

Dodge and her research were just part of the Alzheimers Association International Conference (AAIC), which looked a little different this year. It was completely virtual because of the pandemic.

Its really important that we continue forward. Alzheimers isnt going anywhere. So, we need to continue forward with that research and helping future generations, said Heidi Rowell, program director for the Oregon and SW Washington chapter of the Alzheimers Association.

The international conference usually sees about 6,000 attendees, but because it went online this year more than 32,000 people were able to participate from more than 160 countries.

For Rowell and many others, the most exciting research to come out of this years conference is promising progress for a blood test that could detect Alzheimers 20 years before symptoms appear. Its not finalized yet, but it has many encouraged.

Thats huge. That gives people time to plan, time to figure out what their wishes are, but it also gives people more time to participate in clinical trials than weve ever had before, Rowell said. And that could be just groundbreaking for the research community.

The pandemic isnt slowing down that research, in fact its highlighting some of its importance; not just for people living with Alzheimers and dementia-related diseases, but for their caretakers as well.

Just dont isolate yourself. Phone call, video chat, helpline, hotline, anything you can do to connect with others is very important, Dodge said.

If youre interested in learning more about theI-CONECTstudy and to sign you or a loved one up visit: https://www.i-conect.org/

More here:

From promising progress on blood test to impact of video chat, Alzheimers research persists in pandemic - KGW.com

Rivian releases progress update with look at electric pickup prototypes, production, and more – Electrek.co

Posted on August 12, 2020 by Danzig

Rivian has released a new progress update with a look at electric pickup prototypes, production images, and more.

We have been reporting a lot about Rivians production over the last few months in anticipation of delays following the pandemic.

At one point, Rivian was on track to beat everyone to market with an electric pickup truck a full year before the competition.

Last month, they confirmed that the Rivian R1T is not going to make it to market until June 2021.

Nonetheless, it could be the first electric pickup to make it to market as it already started pre-production last month.

Now Rivian has shared a new progress update of the road to full production at their factory in Normal, Illinois:

The video gives us the best look weve seen at the electric vehicle factory that once was a Mitsubishi plant producing gasoline vehicles.

They shared some interesting images of the production including the marriage of the chassis with the battery pack:

We also get a look at Rivians drivetrain for the R1T electric SUV:

The video is showing some great progress at the plant, but theres still a lot of work to do.

CEO RJ Scaringe said that they still need to build the body manufacturing line, which is expected to be done this fall.

The general assembly line also needs to be built and they need to install about 500 robots.

Rivian is expected to update the specs of the R1T closer to production but based on thespecs released at the launch in 2018, the R1T is equipped with 4 electric motors, each with a 147 kW power capacity at the wheel, while the total power output can be configured to different levels from 300 kW to 562 kW (input to gearbox).

The different power levels match different choices of battery packs, which is another impressive feature since they have the highest capacity of any other passenger electric vehicle out there: 105 kWh, 135 kWh, and 180 kWh.

Rivian says that it will translate to 230+ miles, 300+ miles, and 400+ miles of range on a full charge.

Theyre talking about a charge rate of up to 160 kW at fast-charging stations and an 11-kW onboard charger for level 2 charging.

It has atowing capacity with a trailer weight rating of 5,000 kg thats 11,000 lbs.

Rivian announced that the vehicle will start at $69,000 before incentives, but after Tesla announced the Cybertruck with similar specs for much cheaper, the company saidit will lower its price.

A final price is also expected closer to production next year.

FTC: We use income earning auto affiliate links. More.

Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast.

Go here to read the rest:

Rivian releases progress update with look at electric pickup prototypes, production, and more - Electrek.co

IN OUR VIEW Two sides together: Progress evident in Grayson – The Independent

Posted on August 12, 2020 by Danzig

Grayson appears to have provided the Tri-State with some good news.

A protest on Sunday yielded what any protest would be proud to have accomplished: It brought two sides together to communicate.

It was the third demonstration in as many weeks in Grayson spurred by the Black Lives Matter movement. All three times drew armed, counter-protesters.

The scene at each protest was cause for concern for the safety of protesters on both sides.

While the first two (of those three) protests were heated and Sundays encounter had its share of quarrels what's important is the two sides made progress.

In any topic, there are at least two sides to be discussed, and in many cases, there will be quarrels. That's acceptable, as long as those involved remain nonviolent and make a case using honesty and a true desire to understand the other side and find common ground.

That sounds like what happened in Grayson.

In Mondays edition of The Daily Independent, Henry Culvyhouse reported the following:

As the discussion continued, counter-protesters and protesters began shaking hands some even hugged.

A few even followed the protesters back across the street to the pavilion. One took a picture with the protesters and stated he was with them 110%.

Perhaps it took three tries for protesters and counter-protesters to make some peace. So be it. The United States Congress has met regularly for more than 200 years, and some of those years, it didn't accomplish as much as was accomplished in Grayson on Sunday. The positive vibes that resulted are a testament to what honesty and willingness to listen can do.

It might seem like a only a little progress, but it was progress, and kudos to both sides for achieving it.

We are making critical coverage of the coronavirus available for free. Please consider subscribing so we can continue to bring you the latest news and information on this developing story.

See the rest here:

IN OUR VIEW Two sides together: Progress evident in Grayson - The Independent

Perdue: Politics blocking progress on coronavirus aid measure – MDJOnline.com

Posted on August 12, 2020 by Danzig

ATLANTA The federal Paycheck Protection Program (PPP) has given the economy a critical boost by letting financially struggling small businesses keep their employees, U.S. Sen. David Perdue, R-Ga., said Tuesday.

But presidential politics is getting in the way of attempts to deliver more federal aid to small businesses, Perdue told an online audience of Georgia business and political leaders at the annual Congressional Luncheon sponsored by the Georgia Chamber of Commerce.

In the middle of a presidential year, Im hopeful but not optimistic a deal will get done, he said.

Perdue said the PPP part of the Coronavirus Aid, Relief and Economic Security (CARES) Act Congress passed back in March saved about 1.5 million jobs in Georgia through loans to small businesses averaging $103,000.

Nationally, about 50 million Americans remained on payrolls because of the legislation, added Sen. Tim Scott, R-S.C., who appeared on the chamber program as Perdues guest. The bill played a major role in reducing U.S. unemployment from a peak of 15% in April to 10.2% last month, Scott said.

The PPP is like a friend showing up when youre down, he said. Had we not stabilized those businesses, we would have lost those 50 million jobs.

But Perdue said the current effort to put together another aid package in response to various impacts of COVID-19 is in trouble, with majority Democrats in the U.S. House, the Republican majority in the Senate and the Trump administration a long way from reaching agreement.

For his part, Perdue is trying to get legislation he introduced last month to help schools affected by COVID-19 included in the next coronavirus relief package. He said hes asking for about $104 billion, $74 billion for K-12 schools and $30 billion for colleges and universities.

We dont want our children to lose six months or a year in educational progress, he said.

Perdue said the need to reopen schools safely during a pandemic is particularly critical for at-risk students on the edge of failing and for children who live in rural communities without broadband access.

As he stated in a recent campaign ad, Perdue also called for policing reforms that while stopping short of de-funding police agencies, would include increasing the recruitment of minority officers, stepping up de-escalation training and improving databases used to track complaints of abuse.

People want the law to be enforced, Perdue said. But we also have to have confidence that our police officers are one of us.

Police reform legislation Scott is sponsoring in the Senate is another victim of the political polarization rampant in an election year. Scott said some House Democrats have expressed a willingness to work with him on the bill, but the effort has been sidetracked in the Senate.

The congressional luncheon, held every August in Macon, was conducted virtually for the first time. The program concluded with a video tribute to the late Rep. John Lewis, D-Atlanta, a youth leader during the Civil Rights Era, who died last month at the age of 80.

Go here to read the rest:

Perdue: Politics blocking progress on coronavirus aid measure - MDJOnline.com

Metro’s Recovery Task Force issues third progress report – metro.net

Posted on August 12, 2020 by Danzig

pdf for download here

The above progress report is from Metros Recovery Task Force, formed this spring to develop a plan on how Metro can best serve the public moving forward from the ongoing Coronavirus pandemic. The progress report includes the 18 recommendations made thus far and the framework for the final recovery plan that aims to be issued in the early fall.

The first 12 recommendations are covered in this Source post. And here are the six recommendations from July. We also listed all of them at the bottom of the post.

Before we go further: we understand the terrible impacts the virus has had on people lives and on our local economy. Metro, too, has also been profoundly affected. Employees have fallen ill, ridership has plunged, bus and rail service has been reduced and our finances eroded.

But, like everyone else, we also have seen byproducts of the safer-at-home orders that have shown progress on some of our regions most intractable problems. Specifically, there has been far less traffic congestion, improved air quality and higher rates of walking and cycling.

The Task Forces mission is to help Metro respond to and recover from the pandemic while also finding ways to smartly preserve these gains and to help guide Metro on how to truly best serve those who need us the most. A final comprehensive report will eventually be issued by the Task Force.

This third progress report previews the types of recommendations that will be included in the Task Forces final recovery plan. In addition to early action items, the final report will contain core recommendations, which are important but less time-sensitive ideas to advance recovery. The Task Force will also recommend a small number of transformative recommendations, i.e. the kind of big ideas which could lead to major improvements in mobility and equity.

Decisions on whether and how to implement recommendations will be made by a combination of the Board of Directors, Metros Senior Leadership Team and responsible departments. The task force will track decisions and steps taken on these recommended early action items and will include updates in future progress reports.

Allow Mask Vending: Supplement mask distribution by licensing vendors to sell masks and potentially personal hand sanitizer at some of our stations. As a face covering is now required on Metro, it makes sense to make masks as available as possible to our riders.

Virtual Connections: Refresh, share and follow protocols for online public meetings and take wifi-hotspots to communities. In-person meetings will likely not resume for some time, so its important we make sure our riders and stakeholders can stay connected and informed.

Fresh Air, Safe Travel: Assess options to improve air-flow and filtering to reduce risk of COVID-19 transmission. This could include keeping bus windows open and enhanced cleaning and filtering of HVAC systems on vehicles, in stations and buildings.

More Biking: Promote quick roll-out of more bike infrastructure and bikes. Biking is a good way to get around and easily allows for social distancing.

Were Here For You: Communication campaign on safe use of services as Safer at Home orders are relaxed.

Customer Ambassadors: Deploy non-security staff at stations as customer service agents and ambassadors to encourage safe riding (mask usage, distancing, etc.). This aligns with Metros goal to reimagine safety and security on our system.

Survey Metro customers on their transportation needs and experiences. The idea is to get a handle on what ridership will look like in the coming months, figure out what customers want and best understand what would make customers feel safe using our services now and in the future.

Authorize cities that received 2020 Open Street Grants i.e. for events such as CicLAvia to use that money for projects to slow traffic and/or expand walking and biking opportunities on local streets. The Metro Board approved this in late May.

Test and implement new cleaning practices to help prevent the spread of Coronavirus and other germs on our transit system. Were currently relying heavily on disinfectants, but the agency will be looking at the use of ultraviolet light as well as cleaning frequencies.

Find ways to provide face masks to our riders. Were requiring face coverings to ride, and the vast majority of riders seem to be wearing them as far as we can tell. As long as the requirement is in effect, we want to help riders access masks to avoid enforcement becoming an issue.

Partner with local cities to accelerate projects that speed up buses for example, bus lanes or projects that help buses get quickly through intersections. The goal is to make transit more appealing and useful in the future so people dont feel they have to drive everywhere.

Matching our service levels with demand. Over the last few weeks, weve been running about 70 percent of our pre-pandemic service levels for about 30 percent of our pre-pandemic ridership. The plan is to restore bus and rail service in stages and keep rear door boarding on buses to improve service, allow for physical distancing and beyond the pandemic help reduce overcrowding. Once upon a time, that was a common complaint.

Begin engaging major employers to allow more telecommuting or to stagger work hours to reduce traffic. This includes modifying Metros telecommuting policy to set a good example. Pretty simple idea here: less traffic is good for everyone, including those who still must commute to work.

Put a contactless payment system in place as part of the Transit app the agencys official app. This is a good way to reduce touchpoints and make transit more convenient to use.

Re-imagine projects. It will be difficult for Metro to recover all the costs of the pandemic and our funding which is heavily dependent on sales tax revenues will likely be down for quite some time. The Task Force thinks this is a good time to take a look at the many projects in the planning phase at Metro and think about how they can cumulatively deliver the most positive impact to our region, while sticking within the parameters of the Measure M and R ordinances.

Study options to improve the Metro Bike Share program

Expand social services to help find housing for homeless who use the Metro system.

Like Loading...

See more here:

Metro's Recovery Task Force issues third progress report - metro.net

Inyo County facing placement on state’s Watch List while making progress on enforcement of COVID-19 health orders | Brief Respite – Sierra Wave

Posted on August 12, 2020 by Danzig

With the surging numbers of positive coronavirus cases and two deaths at the local nursing care center in Bishop, there was almost a fatalistic acceptance among some county officials that Inyo County would be placed on the states COVID-19 Watch list.

But it turns out that the county might be getting a brief reprieve thanks to the states coronavirus data tracking system, The California Reportable Disease Information Exchange (CalREDIE), which the state has relied upon in making decisions on who should be placed on the Watch List. It turns out it has some problems as the result of an unresolved technical problem, said state health officials on Wednesday, August 15.

Because of the data issue, they have had to stop removing or adding to a list of counties that faced more restrictions on businesses, indoor gatherings and activities, and schools, until it is fixed. Currently, 38 of 58 counties are on the list, with all major counties already on the list. However, this brief stay does not mean that Inyo County is out of the woods and will dodge being placed on the State Monitoring/Watch list once the problem is resolved.

According to the Centers for Disease Control, as of Saturday, August 8, California still has the greatest number of reported positive coronavirus cases in the country at 538,416 with 10,011 deaths.

Keep in mind that, according to health officials in California, the true number of cases is even higher than what the reporting system was recording. There is always a delay between the time a death occurs and the time it is reported to the state. Credibility is crucial to public health officials in keeping the publics trust and cooperation.

Nationally, the numbers of positive coronavirus cases are now at 4,920,369 with 160,220 deaths in just the past 6 months. Many experts are predicting as many as 300,000 COVID-19 deaths by the end of the year.That is 236,000 more deaths than the last recorded number of deaths in the CDCs last complete influenza report for the 2017-2018 season. And influenza has a vaccine; COVID-19 does not.

The U.S. currently leads the rest of the entire world in the number of positive COVID-19 cases and deaths, and that doesnt look like it is about to change.

Californias CalREDIE system uses data from testing labs around the state to decide which counties might land on the states watch list. To come off the list, a listed county must wait for 14 days, and it can then begin to reopen activities, and reopen certain businesses, or offer in-person classroom instruction.

The Inyo County Health Department has apparently ramped up its efforts over several weeks to bring non-compliant businesses in line with health orders, according to Inyo County CAO, Clint Quilter. He explained their efforts and how the process works. He stated that the county will not be dealing with the issue through, or based on, social media, but rather a process that involves the county first sending an official letter to a non-compliant business and working with the business to bring it into compliance. Quilter noted that, thanks to hard-working and dedicated county employees, their efforts have already had some success by using persuasion rather than confrontation and threats.

The public perception, and to some extent, the media as well, has been that the county has been doing little, but apparently that has not the case. Once the county comes to an agreement with a business, it will use using anonymous people visiting the business on a regular basis to ensure continued compliance. If the violations have not stopped, the observations will be used to generate enough evidence to request issuance of a temporary restraining order from the courts, which will be enforced.

The combination of compliance, timely, accurate information, and working with businesses will go a long way in eradicating or at least, mitigating the rates of infection, hospitalization, and deaths in the county and the state .

Link:

Inyo County facing placement on state's Watch List while making progress on enforcement of COVID-19 health orders | Brief Respite - Sierra Wave

Fulton Health Director Reports Progress On Testing As Numbers Continue To Climb | 90.1 FM WABE – WABE 90.1 FM

Posted on August 12, 2020 by Danzig

Georgias coronavirus numbers continue to show a pandemic thats still going strong across the state.

With the seven-day average being down from just one week ago, state officials have confirmed another 2,400 cases of the coronavirus on Monday.

Active hospitalizations remain mostly steady at just over 2,800. With about 24 of those patients, receiving care at a pop-up hospital at the Georgia World Congress Center.

Georgia trails California, Florida, Texas, and New York when it comes to the total number of confirmed COVID-19 cases.

In recent weeks, testing sites in Fulton County have been bogged down with an onslaught of people wanting to know their status.

And that problem became even more complicated when labs werent turning around the results fast enough.

Fulton Countys Director of Board of Health, Lynn Paxton , MD, spoke to WABEs host of Morning Edition, Lisa Rayam to say things have changed.

Dr. Paxton reports progress even as the infection rate throughout Georgia continues to climb.

We took a number of steps to deal with it. So now we are actually back to normal in terms of our turnaround times and the like. Its a lot faster to get appointments for example. We now have a system to go online and make their own appointments. For those that do call in, weve added more telephone lines. The wait time is much less than before, Paxton said. The lab turnaround time is usually 2-3 days.

Contact tracing is done by telephone. Dr. Paxton said people who have tested positive are notified over the telephone as well as other means.

We ask how are they doing and ask who they have been in contact with. If the person that we are trying to get into contact with gave the wrong phone number, thats an issue. We do keep trying. We have a campaign on YouTube that gives patients instructions.

Looking at the big picture, Dr. Paxton says, Georgia is still reporting a large number of COVID-19 cases every day. In terms of the numbers, We still have a long way to go, Paxton concluded.

Fulton Health Director Reports Progress On Testing As Numbers Continue To Climb | 90.1 FM WABE - WABE 90.1 FM

The Spirit of the Race Meyer’s Journey Remembered – lexingtonprogress.com

Posted on August 12, 2020 by Danzig

Steve Meyer, Principal of Pin Oak School, recently competed in the Last Annual Vol State Road Race, which covers four states in 10 days.Photos Submitted / The Lexington Progress

Article by W. Clay Crook-

Its dark, the road is rough and pitted and too narrow for his crew to follow. The toe of one sneaker has been cut out to relieve a swelling blister, and a small toe has blistered to the bone. Checking them isnt an option, he is racing against a clock called Oprah, and with a still fresh knee replacement it just takes too much time. He has his shuffle going- the slap of his sneakers and the little rattle of his pack counts cadence in his head with a boom shaka shaka, boom shaka shaka and he cant break the pace.

By his calculations there must be only a little further to go, but the line is still hidden from view, there is just the road, the wood line, his shuffleand the pain. It never really goes away, it just mounts, but Im not giving in, Steve Meyer says to himself.

He has made over 312 miles of the 314 test of endurance, and maybe even faith, called the Last Annual Vol State Road Race. Then I broke out of the woods, and they were there, my team, my family! He looks at me and winks, And what do you get? With a shy smile he digs into his canvas pack, a worn American flag on the pouch, and pulls out a wooden medallion. He handles it like gold, and maybe it is, because it cost him 314 miles in ten days to get it.Hes had twelve and a half hours of sleep during the journey, and sometimes dug through the garbage to find a bit of water. With the COVID-19 travel restrictions, only 66 contestants out of a possible 120 were able to attend, and hes seen many of them drop away or be beaten by Oprah. Shes always on your heels, you have to beat the average of 31.4 miles a day or give up rest time to stay ahead of her. If you fall behind her, fall behind the calculations, then you get a call that you are out. If you walk, they wont track you; if you dont check in, they wont look for you, its done.

He has one shocking encounter with the clock that pushed him forward. My strength and my hope were diminishing, probably my weakest point in the race, but I made it to a BP station and had a little time left before I needed to check in. I nodded for just a bit, said a prayer, then hobbled up the steps to get a Red Bull, and then I checked in, Oprah was right there with me! No! I swear bells went off in my head, No! It was like Popeye eating his spinach, Meyer said raising his arm and making a muscle, and even though I didnt know it, I think I felt all the support flow in from everyone.

His daughter, Megan Stovall, said that the number of people following on Facebook just kept growing, it grew until it drove out the drama of everything around us, the news, COVID-19, everything out of our minds, she said. Much of it was dads positive attitude, it kept going and he kept going and even others in the race and their crews noticed it. She looks down for just a bit, a hitch in her voice when she looks up, remembering the

For the complete article, see the August 19th edition of The Lexington Progress.

Subscribe Today!

Go here to read the rest:

The Spirit of the Race Meyer's Journey Remembered - lexingtonprogress.com

Whats Happening With Progress Software Stock? – Forbes

Posted on August 12, 2020 by Danzig

Based on a comparison of Progress Softwares stock (NASDAQ: PRGS) trajectory over recent months with that around the 2008 recession, we believe that the stock can potentially gain 10% once fears surrounding the coronavirus outbreak are abated to reach $40, from current levels of $36. The stock lost more than 30% in 2008 and gained around 83% after that, however, this time around, it dropped 32% between Feb 19th and March 23rd, before improving by 21% since then a partial recovery. A detailed comparison of Progress Softwares performance against the S&P 500 is available in our interactive dashboard analysis, 2007-08 vs. 2020 Crisis Comparison: How Did Progress Software Stock Fare Compared With S&P 500?

The World Health Organization declared a global health emergency at the end of January in light of the coronavirus spread. The rally in the equity market continued till February 19 with the S&P 500 reaching a record high, but the trend reversed sharply over the following weeks. PRGS stock lost 32% of its value (vs. about 34% decline in the S&P 500) between February 19 and March 23. A bulk of the decline came after March 6th, when an increasing number of Coronavirus cases outside China fueled concerns of a global economic slowdown. Notably, though, the multi-billion dollar stimulus package announced by the U.S. government has helped the stock price recover 21% over recent weeks (vs. about a 48% gain in the S&P 500) to its current level of $36.

Progress Softwares Stock Fell Because The Situation On The Ground Has Changed

Progress Software is a U.S based Software Company that provides solutions for developing and deploying business applications. It offers tools for easily building adaptive user experiences across any type of device, the flexibility of a serverless cloud platform to deliver modern apps, data connectors, etc. The Covid-19 crisis has compelled businesses to re-think their IT spending to save costs. Companies are either postponing or slashing IT expenditure in the short term, investing in only business-critical projects. This is likely to impact Progress top line as both new deals and subscription revenues could suffer. On the flip side, Progress Software has a strong balance sheet and a large network of over 1,700 independent software vendors, 100,000 enterprise customers, and two million developers who use its offerings, enabling it to grow in the long term.

We believe Progress Softwares Q3 results will confirm this reality with a drop in both product licenses and subscription revenues. If signs of coronavirus containment arent clear by the September Q3 earnings timeframe, its likely Progress Softwares stock along with the broader market is going to see another round of sell-offs when results are well below expectations.

But Progress Software Stock Witnessed Something Similar During The 2008 Downturn

We see PRGS stock declined from levels of around $13 in October 2007 (the pre-crisis peak) to roughly $7 in March 2009 (as the markets bottomed out) - implying that the stock lost as much as 50% of its value from its approximate pre-crisis peak. This marked a similar drop as the broader S&P, which fell by about 51%.

However, PRGS recovered strongly post the 2008 crisis to about $12 in early 2010 - rising by 83% between March 2009 and January 2010. In comparison, the S&P bounced back by about 48% over the same period.

Will Progress Softwares Stock Recover Similarly From The Current Crisis?

Keeping in mind the fact that PRGS stock fell 32% from the market peak on February 19 to the low on March 23 compared to the 50% decline during the 2008 recession, we believe it can potentially bounce back (10%) to around $40 once economic conditions begin to show signs of improving. This marks a partial recovery to the $44 level PRGS stock was at before the coronavirus outbreak gained global momentum.

That said, the actual recovery and its timing hinge on the broader containment of the coronavirus spread. Our dashboard forecasting U.S. Covid-19 cases with cross-country comparisons analyzes expected recovery time-frames and possible spread of the virus.

Further, our dashboard -28% Coronavirus crash vs. 4 Historic crashes builds a complete macro picture and complements our analyses of the coronavirus outbreaks impact on a diverse set of Progress Softwares multinational peers. The complete set of coronavirus impact and timing analyses is available here.

Want out-performance? Try guessing the % returns for our Pershing-inspired portfolio - based on billionaire Bill Ackmans firm Pershing Square - vs. the S&P over the last 1 week, 1 month, 3 months, YTD or even 3 years. Our portfolio combines high growth, quality, and risk mitigation criteria in an interesting way.

See allTrefis Price EstimatesandDownloadTrefis Datahere

Whats behind Trefis? See How Its Powering New Collaboration and What-Ifs ForCFOs and Finance Teams |Product, R&D, and Marketing Teams

See more here:

Whats Happening With Progress Software Stock? - Forbes

Henderson Co. South Softball Starts Season with Big Wins – lexingtonprogress.com

Posted on August 12, 2020 by Danzig

Henderson County South Middle School SoftballFile Photo / The Lexington Progress

Article Submitted

The Henderson County South Softball team opened up their season last Thursday night, August 6, 2020 against Camden. The Lady Lions took the win, 3-2. The winning pitcher was Holly Bartholomew. Holly struck out five batters and only gave up 4 hits in 6 innings. At the plate, Jada Bromley recorded a double, to start off a 3-run inning, in the bottom of 5 inning. Henderson County South became more patient at the plate later on in game with 4 walks. Karlee Flowers came up with a big hit in the 5th inning, as well.

Monday night, the Lady Lions hosted Milan. Henderson County South came away with a big win, 13-1. The winning pitcher in this match-up was Holly Bartholomew, and Karlee Flowers got the save. Bartholomew gave up only one hit in 3 innings and

For the complete article, see the August 19thedition ofThe Lexington Progress.

Subscribe Today!

See the original post:

Henderson Co. South Softball Starts Season with Big Wins - lexingtonprogress.com

Crews making good progress on Monument Pathway – Scottsbluff Star Herald

Posted on August 12, 2020 by Danzig

Crews are making progress on multiple fronts as they work on the Monument Valley Pathway while the weather is good.

The 10-foot wide concrete pathway will wind through Scottsbluff from south of Riverside Discovery Center before it ends near Western Nebraska Community College.

Were right on their schedule, and theyre doing a great job, Scottsbluff public works director Mark Bohl said Monday of the work being done by Paul Reed Construction. Theyve got their crews in three different areas. Were all busy, and were moving right along.

Work began three weeks ago and is expected to continue until July 2021. A pedestrian pathway overpass northwest of Scottsbluff High School will carry the trail over U.S. Highway 26. That structure is expected to be erected sometime around November.

Were just going to keep going, Bohl said. As long as the weather is good, were just going to keep working away.

Although not open to the public yet, portions of the concrete have been poured and a portion of the road south of the zoo has been adjusted to fit with the project specifications.

After years in the planning stages, Bohl said he is happy to see concrete being poured and physical progress being made.

This is nice, Bohl said as he walked a portion of the path. After a lot of years of a design on paper and a lot of back-and-forth about its location and some changes and coming to a final decision, now its a reality. Its going to be a great addition to the city. This is going to be a wonderful pathway for almost six miles. I really think people are going to enjoy this thing.

We're always interested in hearing about news in our community. Let us know what's going on!

Crews making good progress on Monument Pathway - Scottsbluff Star Herald

Select Page ::