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Liberal Activists’ Prank Had Some at CPAC Waving Russian ‘Trump’ Flags – NBCNews.com

Posted on February 25, 2017 by Danzig

President Donald Trump got an eyeful of red, white and blue after two liberal activists handed out nearly 1,000 Russian flags to unwitting attendees of the Conservative Political Action Conference.

Ryan Clayton, 36, and Jason Charters, 22 both members of Americans Take Action handed out the Russian Federation flags inside and outside of CPAC, which they emblazoned with the word "TRUMP" in gold letters.

Clayton and Charters said the prank went better than expected because most of the wavers did not recognize the flag's country of origin, forcing CPAC staffers to confiscate the free "souvenirs."

"The amount of people who didn't know the flag was astonishing," said Charters, who added that most attendees were excited to be given the flags.

Director of Communications for the American Conservative Union Ian Walters, the organization that puts on the conference, did not immediately respond for comment.

The two liberal organizers said the plot was hatched because they wanted to bring attention to the allegations that the Russian government was involved in an operation to interfere in the American election, which U.S. intelligence officials have said evolved into an attempt to help Trump win.

"It makes a great point. We shouldn't have foreign powers picking our president," said Clayton, who heads Americans Take Action.

"Some call it a false flag operation," Clayton added. "I like to call it a true flag operation because Trump's definitely the wrong kind of red, white and blue."

While Clayton and Charters handed out flags, they used Russian accents and shouted comparisons of Trump and Russian President Vladimir Putin.

They said the prank was well-received by many who have reached out to them since it went viral on social media.

"Most people are telling us, 'Thank you for being our voice in that place to Donald Trump,'" Clayton said.

CPAC staffers kicked out Clayton three times from the conference, and Charters got the boot once. Charters was escorted outside by security after he stood up during Trump's speech and called Trump "Putin's puppet" and a "fascist."

"We think his values are fundamentally un-American and he is a danger to the issues we most care about," Charters said.

Americans Take Action is a liberal activist group that strives to have the president impeached and for three additional goals. They question the fairness of American elections and aim to better their quality, support a purpose-driven economy and want to fight any threat to internet freedom.

Charters and Clayton believe that the majority of Americans are worried that there is an unexplored relationship between the president and Russia. Trump said at a press conference last week that he has no deals with the country, and "I have nothing to do with Russia."

"Most Americans feel like something is wrong here," Charters said. "They feel it in their gut. There is a weird connection between this guy in the Oval Office and the people in Russia."

A new NBC News/Wall Street Journal poll said the two might not be wrong. More than half of Americans believe that Congress should investigate whether Donald Trump's presidential campaign had contact with the Russian government in 2016.

Their immediate future isn't quite clear, but this isn't the final statement for Americans Take Action. According to Charters and Clayton, they'll continue as long as Trump is in office.

"We've been doing these types of actions for a while," Clayton said. "And we'll continue to do them until President Trump gets impeached."

Liberal Activists' Prank Had Some at CPAC Waving Russian 'Trump' Flags - NBCNews.com

European Liberals slam De Lima’s arrest – Inquirer.net

Posted on February 25, 2017 by Danzig

Photo from Hans van Baalen Twitter

Key European Liberals on Saturday decried the arrest of Liberal Party (LP) Sen. Leila de Lima on what they said were politically motivated drug charges, vowing to rally European Union and global support for the release of the lawmaker, who described herself as the first political prisoner under President Duterte.

The Alliance of Liberals and Democrats Europe (Alde) Party is deeply concerned about the arrest of the Liberal Party Sen. Leila de Lima in particular and the deteriorating human rights situation in general, said Hans van Baalen, Alde President and Liberal International president of honor.

The Philippines, under the leadership of President Duterte, is turning rapidly into an illiberal state, where there is no respect for the law whatsoever, Van said in a statement issued in London by Liberal International.

The LP is a member of Liberal International, the world federation of Liberal and progressive democratic political parties.

Van Baalen said he had written the EU High Representative for Foreign Affairs, Federica Mogherini, in order to see what action the European Union can take to free De Lima.

Liberal Internationals human rights committee chair Markus Lning, formerly Germanys commissioner for human rights, promised to push for De Limas release and called on Mr. Duterte to respect the rule of law.

European Liberals slam De Lima's arrest - Inquirer.net

Liberal Democrats to try to kill Government’s bill to restrict disability benefits – The Independent

Posted on February 25, 2017 by Danzig

The Liberal Democrats have tabled a motion in the House of Lords to kill a Government bill that will severely restrict disability benefits.

It follows a written statement to the House of Commonsby Conservative disability minister Penny Mordaunt that the Government will introduce emergency legislation to tighten the criteria of Personal Independence Payments (PIP)to disabled people after they were told to cover a broader spectrum of claimants, including those with mental health problems.

The move could potentially deprive 160,000 people of state help which is rightfully theirs, disability charity Scope warned.

The Department of Work and Pensions (DWP) was advised to expand the reach of the PIP scheme by two separate tribunals to give claimants more points for psychological stress.

The PIP scheme assesses claims on a points based for two different categories daily living and mobility and claimants must score at least eight points to receive a basic payment and 12 points to receive an enhanced rate.

It is designed to cover the extra costs that come with being disabled, such as specially adapted aids, cars and appliances, and measure how a disability affects a persons life rather than the disability itself, but critics say the criteria is too strict.

But the first tribunal ruled that claimants should receive more points for mobility if they suffer from overwhelming psychological distress when travelling alone.

The second tribunal recommended that people be given more points for daily living if they have to take medication and monitor a health condition.

Ms Mordaunt said urgent reforms were needed to restore the original aim of the benefit, citing concerns that otherwise the Government would end up paying 3.7bn extra in PIP payments by 2022.

She also insisted no claimant would see a reduction in the amount of PIP previously awarded.

But the Liberal Democratspokeswoman for Work and Pensions, Baroness Cathy Bakewell, said the plans were outrageous and accused the Conservatives of treating disabled people with total contempt.

The Government is using its recent losses in court as an excuse to severely restrict disability benefits. Rather than listening to the ruling they are using it to make matters worse for disabled people that is utterly outrageous.

What makes things even worse is that they have sneaked this announcement out under the cover of by-elections.

These decisions impact the lives of vulnerable people.Liberal Democrats will not allow the Conservatives to get away with treating people with disabilities with such total contempt.

PIP was introduced in 2013 as a replacement for the Disability Living Allowance (DLA) which was described as ridiculous by the then Work and Pensions Secretary Iain Duncan Smith because he said people who were given the benefit were no longer given any further assessments.

But the system has been frequently criticised by campaigners who say the scheme was designed just to save money.

Read the original:

Liberal Democrats to try to kill Government's bill to restrict disability benefits - The Independent

Expect the unexpected with upcoming budget, appropriations cycle, experts say – FederalNewsRadio.com

Posted on February 25, 2017 by Danzig

Theres one thing budget experts can predict with confidence: This budget cycle and the next will be unlike any agencies and contractors have seen in the past.

President Donald Trump is expected to submit his fiscal 2018 budget to Congress in mid-March. The continuing resolution that lawmakers passed last yearexpires Apr. 28.Congress must still agree on a funding solution for the remainder of fiscal 2017. Meanwhile, Trump has indicated his desire to repeal and replace the Affordable Care Act and implement a major overhaul to the tax code.

These circumstances, and the personalities behind these crucial budgetary decisions, could set up an unprecedented budgetary climate for agencies and contractors.

Some feds miss out on pay raise as salary compression worsens

Things that we thought were slam dunks are not,Stan Collender, budget expert and executive vice president of Qorvis MSLGROUP, said during a Feb. 24 Professional Services Council discussion.

This puts newly confirmed Office of Management and Budget Director Mick Mulvaney, a former member of the House Freedom Caucuswho has expressed his opposition against raising the defense spending caps, in a tricky position.

Hell either be the most influential member of Trumps cabinet or the first one out the door, Collender said.

The President has expressed his desire to boost military spending and raise defense spending caps, but Democrats have consistently said they wont budge without an increase to the domestic spending caps.

The administration isfacing the situation where they want to spend more on military programs but probably wont be able to do it through the caps, Collender said.

The Overseas Contingency Operations (OCO) fund could once again be an option for the administration. ButMulvaney has called the OCO account a slush fund in the past and was one of four co-sponsors of an amendment to the 2017 Defense authorization bill that would have reined in its use for non-wartime spending.

Onescenario is that Congress could appropriate agency funding past the spending caps, which in theory would trigger sequestration, Collender said.

But the President couldask OMB not to issue sequestration guidance, he added.

The sequester isnt automatic, said David Berteau, CEO of the Professional Services Council. OMB has to actually issue guidance to sequester, a direction to sequester. Without that order, there is no sequestration.

Government shutdowns andcliffhangers over the debt ceiling, which will likelybe suspended by March 15, may be a possibility.

They cannot be dismissed outright just because one party is in control of the White House and both houses of Congress, Collender said of either option.

Both Berteau and Collender said they could ultimately see four years of continuing resolutions or omnibus packages, whichRepublicans may use to pass other policy priorities.

If you put it in one big bill its tough for members to vote against, because there will be something in there that they either cant do without or have to be in there.

Time is another factor, since its unlikely committees will have enough time to resolve full appropriations packages with the congressional schedule, which has most lawmakers on recess for two weeks in April.

Itsnot hard to see a scenario where you get to April 28th and you say, Oh, we just need another week here, so we get a one-week CR, Berteau said. And then you get to the next week, and you get another one-week CR. If you look at government contracting behavior, theyre already spending as if its a CR, and what that means is, dont spend all your money yet because youre not sure what youre going to get in the subsequent CR.

But in a changing environment Collender said the contracting community should tweak its operating principle and the strategy companies use to market them to the public.

You have to get a reputation as not just somebody who herds money from the government but provides value to the government, that the contracts you get, the work youre doing, actually improves the bottom-line, he said.

Expect the unexpected with upcoming budget, appropriations cycle, experts say - FederalNewsRadio.com

A peek inside the Downtown Project with Aimee Groth – Las Vegas Review-Journal

Posted on February 25, 2017 by Danzig

It was an audacious goal by any measure: to revitalize downtown Las Vegas in a new way, using new principles, all in just five years time.

Tony Hsieh, CEO of Zappos.com, invested a reported $350 million into the Downtown Project, which sought to revitalize and create a sense of community in downtown Las Vegas. With Hsiehs encouragement, journalist Aimee Groth spent more than four years following the project, enjoying access to Hsieh and his lieutenants and confidants, and the employees and aspiring entrepreneurs who became part of it.

Groth tells her story in The Kingdom of Happiness: Inside Tony Hsiehs Zapponian Utopia (Touchstone, $27). Though she judges the Downtown Project as unsuccessful relative to the heights that it had aspired to, anyway and even disillusioning, she gives Hsieh credit for his willingness to take on the project in the first place.

Groth calls her book the product of an evolution, from someone who just really bought into it and then turned into more of a skeptic.

MORE THAN BUSINESS

I see it partially as a memoir, Groth said of her book. I mean, it could be filed under psychology or sociology. I think it crosses genres.

She started reporting on the Downtown Project in 2013

at age 29.

I was always drawn to the psychology. That was the most interesting aspect to me, she said. Unlike other (reporters) that came through the downtown, I never saw this as an urban planning experience, or that it should be measured against other urban planning experiences. I thought of it as a social experience first.

The Kingdom of Happiness covers Zappos adoption of holacracy, or jettisoning a traditional corporate hierarchy in favor of self-organization. There are stories of downtown business owners whose ventures survived and failed, and stories of what happened to utopia-seeking dreamers when utopia wasnt realized.

And theres Hsieh. I think that he went into this project with good intentions, she said. I think that hes never experienced failure in his life until now, so Ill be very curious to see what he does with it over the next few years.

A spokeswoman for the Downtown Project said last week that Hsieh was out of the country and unable to be interviewed. However, the Downtown Project released a statement: Several Zappos employees, including Tony, have reviewed the book and have collectively noted well over 100 pages that we believe contain inaccuracies, misrepresentations, or flat out false statements throughout the final version. As a result, the book is not representative of Zappos or Tony or many others mentioned in the book, and is not officially endorsed by the company.

THE OUTCOME

Although the Downtown Project hasnt met the lofty aims voiced at its outset, Groth gives credit to Hsieh for what he has been able to do.

I think that if you walk downtown youll see that the area has improved. I would say there has been an upgrade, she said.

Owners of businesses that received financial support from the project got an opportunity they never would have gotten in terms of investment money, Groth added. And a lot of people got a lot of life experience.

Meanwhile, I know there are other cities that are in touch with the Downtown Project, seeking to learn lessons from it, she said. So I think its an ongoing conversation, and Id be very interested to see what happens five years from now, Groth said. Maybe theyll accomplish their mission in 10 years.

And, from a broader, more personal perspective, Groth said, the book is about pursuing your dream, really. Everyone comes to Las Vegas to pursue a dream. My dream was to write this book.

Contact John Przybys at jprzybys@reviewjournal.com or 702-383-0280. Follow @JJPrzybys on Twitter.

HBO Goes After ‘Online’ Pirates in the Caribbean – TorrentFreak

Posted on February 25, 2017 by Danzig

Pirates of the Caribbean is one of the most successful Hollywood productions in recent history, but for HBO it's also a very real threat. Earlier this month HBO LA reported several Caribbean countries to the U.S. Government because they fail to take a stand against pirating cable operators, hotels, and sellers of pirate streaming boxes.

HBOs daughter company in Latin America, HBO LA, is not happy with the rampant piracy thats taking place in the Caribbean.

Earlier this month the company submitted its latest 301 watch list submission to the U.S. Government, urging the authorities to take appropriate action.

HBO is steadily expanding its services to the Caribbean and Central American regions. However, their efforts to roll out legitimate services are frustrated by local pirates. These arent just individual pirates, large cable operators are in on it too.

a lack of enforcement by Caribbean and Central American governments is allowing local cable operators to build substantial enterprise value by increasing their subscriber base through offering pirated content, HBO LA writes (pdf).

The same goes for hotels, which treat their visitors to prime HBO programming without paying a proper license.

In addition to piracy by large cable providers, non-U.S. owned hotel chains on a variety of islands are known to pirate content exclusively licensed to HBO LA by using their own onsite facilities or obtaining service from cable operators who pirate, HBO LA informs the government.

Piracy by cable operators and hotels is not new. HBO has reported these issues to the authorities before, but thus far little has changed. In the meantime, however, the company has started to notice another worrying trend.

Online piracy has started to become more prevalent, with many stores now selling IPTV boxes and other devices that allow users to access HBO content without permission.

In the past year, HBO LA continued to see a significant increase in the problem of online piracy of its service throughout all of HBO LAs territory, HBO LA writes.

In the Caribbean, several brick-and-mortar stores customarily sell Roku or generic Android set-top devices (like the Mag250, Avov, and the MXIII) preinstalled with an unlicensed streaming service and offering a few hundred channels of content, including content for which HBO LA holds exclusive license in the territory.

The company lists various examples of stores that offer these kinds of products including the Gizmos and Gadgets Electronics store in Guyana. This store sells Roku devices with an unlicensed streaming service called ROKU TV pre-installed.

By selling pirate subscriptions to thousands of customers the company is making over a million dollars per year, HBO estimates. And more recently the same store started to sell a subscription-less service as well.

Additionally, Gizmos and Gadgets Electronics has recently started offering a second integrated hardware and service device known as the Gizmo TV BOX, which offers over 200 channels with no monthly fee, HBO LA writes.

This is just one example of the many that are listed by the Latin American daughter of HBO.

The cable provider says its already taken various steps to stop the different types of infringements but hopes that U.S. authorities will help out where local governments fail. Towards the end of their submission, HBO LA encourages the United States Trade Representative to apply appropriate pressure and threats, to turn the tide.

More here:

HBO Goes After 'Online' Pirates in the Caribbean - TorrentFreak

Help find Philly sender of message in bottle found on Caribbean island – PhillyVoice.com

Posted on February 25, 2017 by Danzig

On an uninhabited island in the Caribbean, someone stumbled upon a message in a bottle that was apparently sent by a Philadelphia man. Now, the finder wants to end his two-year search for the person who dropped the bottle into the ocean through social media and the internet.

Once upon a time, receiving a response after scrawling a note on a piece of paper, sealing it in a glass bottle and shipping it off to sea was pretty rare. But in today's digital world, the odds are slightly better.

One reason for that is Message In A Bottle Hunter, a blog created by Clint Buffington. Since 2007, Buffington has developed a passion for finding messages in bottles and meeting the people who sent them.

Last month, he was featured on Vox for a heartwarming story about how he linked up with a couple who sent a message and a piece of wedding cake in a bottle on their one-year anniversary.

Buffington wrote that he enjoys "making friends with the person on the other end of their bottle," which is why his search for a Philly man has resumed.

The post "Seeking Ray from Philadelphia!" was originally published on June 2, 2016, but the mystery hasn't been solved yet. This week, a curious visitor stirred the comment section to see if there were any updates. Now, the search for "Ray" is the featured story on the blog.

The message, written on a piece of paper with a Carnival watermark, was held in a Gatorade bottle and was found on May 17, 2015 in the Caribbean. Unfortunately, plastic breaks down in the ocean so the message was barely legible. Eventually, he determined that the letter was dated May 16, 2014. Here's what the message partially reads:

However, the phone number didn't work. So help is needed.

So if you know someone named Ray who went on a Carnival cruise in May 2014 while living in Philly, reach out here:

Also, kindly tell Ray to refrain from throwing plastic bottles in the ocean. It's bad for the environment.

Help find Philly sender of message in bottle found on Caribbean island - PhillyVoice.com

Caribbean’s carnivals tip their hats to Trinidad – MyAJC

Posted on February 25, 2017 by Danzig

We Caribbean carnival devotees, counting down the days until the regions biggest bacchanal erupts on the streets of Port of Spain, Trinidad, on Feb. 27 and 28, have a dream. A dream that one day carnival will grace us with its life-affirming presence not once a year but once a month. That one day all of humanity can pause during mundane daily routines and take solace in the fact that right now, somewhere in the world, life is being measured out in music and dance and feathers and glitter, not conference calls and crowded commutes: Somewhere, it is carnival.

That dream may be turning into reality.

Throughout 2016, tens of thousands of revelers flocked to over a dozen destinations to partake in carnival celebrations. From Jamaica to Los Angeles, London to Bermuda, Cayman to Toronto, they indulged in costumed parades, extravagant fetes and frenetic soca concerts, and were living proof that Caribbean carnival culture is growing globally, thanks, largely, to one island: Trinidad.

Carnival to Trinidadians is like soccer to Brazilians, said Wayne Henry, a founder of ValeVibe, a 23-year-old Trinidadian events company. In the past, weve tended to keep our culture to ourselves, but now Trinis have gained the confidence to export something we certainly do well: party and have a good time.

This exportation call it the Trini-fication of carnival has become the antidote to what Trinidadians call tabanca: heart-wrenching post-carnival pain fueled by the knowledge that the next bacchanal is a whole year away. Now theres a calendar that starts in Trinidad during the traditional pre-Lent celebration and concludes in October at Miami Carnival, with global and regional carnivals scheduled almost monthly in between. Its a movement documented by booming media entities like the fastidious TriniJungleJuice.com, a global carnivalgoers bible and piloted by young Caribbean entrepreneurs who take having a good time very, very seriously.

Trinidad-style carnival fetes, after all, are not mere parties but full-on productions, transforming the days surrounding the parade into an unofficial competition: Which modish fete will not only eclipse the more traditional elements of carnival the parade, the calypso contests, the competition for carnival king and queen but also outdo others in terms of venue, food, DJ lineup and musical guests? Think of a raucous dance party against a backdrop of flamingos in Miami; amid the roller coasters of Coney Island in New York; on a boat down the Thames in London; deep in the sugar cane fields of Barbados.

If I can give a party in a volcano before it erupts, Ill do it, said Jules Sobion, the chief executive of a Trinidad events company called Caesars Army. Having attended his signature event, A.M. Bush, on three islands, I believe him. Annually thousands of revelers including, last year, Rihanna, who partied with Caesars Army on her home island, Barbados scramble for tickets to line up at 3 a.m., follow music and drinks trucks through fields, cover themselves in paint and hose themselves down as the sun comes up. The dancing persists till noon.

We do the unexpected, Sobion explained. What does Caesars Army do? We export fun.

The result is more than fun its a financial boon.

Carnivalgoers are a niche market thats growing and will continue to grow, said Roscoe Dames, the chief executive and managing commissioner of the Bahamas National Festival Commission. Four years ago his team was given a government mandate to create a carnival as part of an effort to lure tourists and stimulate the creative sector. The result, started in 2015 in Nassau and Grand Bahama Island, was Bahamas Junkanoo Carnival, which fuses the countrys carnival traditions (known as Junkanoo) with a contemporary festival. The Bahamas, like many islands, wanted to maintain its own inimitable flavor while importingTrini styles.

The bedrock of the festival is our local music and culture, Dames said, but we looked at presenting the full spectrum of the Caribbean: Cuban bands, reggae, soca, Haitian zouk, as well as local rake-and-scrape and goombay music. Last year, he added, it attracted upward of 60,000 participants and established itself as a major player in the Carnival market.

Other destinations Jamaica, Grand Cayman, Grenada, Washington, D.C. have long staged carnivals outside the traditional pre-Lent time frame, but are seeing their festivities flourish as Trinidadian brands move in and bring avid fans with them. Among the biggest draws to any carnival is a party presented by Scorch, a Trinidad entertainment company that includes a media and publishing arm, a local TV show and a music production house. Its raucous parties held in places like London, Toronto, Barbados and, this year, Dubai are the ones many desperately try to get into but few can fully remember the next day (there is no hangover like a Scorch hangover, many a carnivalgoer has avowed).

Scorch is really a regional thing, meant to connect all the islands cultures, said its chief executive, Kwesi Hopkinson. So when we arrive at a particular carnival, its an endorsement, a seal of approval that, Yes, this carnival is officially happening.'

Not all islands are eager for that Trinidadian seal, though. When Bermuda started a carnival in 2015 on its Bermuda Heroes Weekend, it barred promoters from other islands.

When the Trini promoters come into any jurisdiction, the local promoters lose out, explained Jason Sukdeo, the president of BHW Ltd., the carnivals corporate entity on the island. I want Bermuda carnival to be for Bermuda, to make money for Bermuda. For us to set up a carnival and watch money go overseas is not what we want.

But Jeremy Nicholls, a Barbadian promoter who runs some of the most popular events at Barbados Crop Over, that islands carnival, which is the regions second biggest, disagreed.

Trinidadians coming here bring people with them, he said. They have a wider reach, and this has a ripple effect; these visitors will go to the big Bajan parties, too. So at the end of the day, its about us coming together. His company, Roast, exports its brand to five other carnivals, he said.

For other enterprising Trinidadians, concerns are cultural, not financial: Will the dissemination of its carnival water down its profound history in the region, a history that stretches back to the 18th century, as European colonizers feted Lent with masked balls and their slaves followed suit, incorporating West African traditions into the revelry?

What I definitely dont want to see, with Trinis carrying our culture throughout the region, is the homogenization of carnival, said Anya Ayoung-Chee, a designer who is a onetime Miss Trinidad and Tobago and the 2011 winner of Bravos Project Runway. Ayoung-Chees online Canyaval shop sells all things modish; her company also stages parties and has its own costume section in the parades of six carnivals.

My focus is always, how do we think about it beyond copy-and-paste, from island to island? she said. How do we preserve traditions, but also how can we hybridize, recognizing that carnival culture is always evolving?

To that end, the kickoff event she staged at the Afropunk Festival in Atlanta last October was inspired by JOuvert, the sunrise carnival ritual populated by folkloric characters such as stilt walkers and jab-jabs, or devils.

I fused JOuvert traditions with New Orleans big bands and other cultural elements that have been influenced by the essence of carnival, all coming from the same history: Brazil, New Orleans, and so on, Ayoung-Chee said. The idea is to showcase how the history of carnival manifests itself way outside of the Caribbean context.

And thats whats exciting to me about exporting Trinidadian culture globally, she added. Not just representing the Caribbean but experimenting with our evolution, with what we could be on a global stage.

----

Baz Dreisinger, a New York City-based professor and journalist, has been writing about Caribbean culture, music and art for two decades.

Caribbean Warned To Prepare For More Severe Storms – Caribbean360.com (subscription)

Posted on February 25, 2017 by Danzig

ROSEAU, Dominica, FridayFebruary 24, 2017 Organization of Eastern Caribbean (OECS) member states have been urged to prepare for more extreme weather conditions and natural disasters as a result of climate change.

The warning came from Crispin dAuvergne, St. Lucias chief sustainable development officer as he contributed to a panel discussion at an OECS climate change forum in Dominica, part of the Vini Koz (Lets Chat) Series that engages citizens in discussion and debate on development opportunities and challenges facing the region.

According to dAuvergne, a 2008 environmental study showed that while St Lucia sees an average of one to two Category 4 or Category 5 hurricanes per year, it is likely to increase to four or five hurricanes of that magnitude each year.

Citing another study, he said rainfall in the Caribbean is expected to increase by 25 to 50 percent in the next five decades. These extreme weather patterns will become the new normal, he said, adding that because the frequency and intensity of extreme weather conditions is likely to increase, the Caribbean should plan accordingly, preparing for more severe natural disasters like droughts, hurricanes and floods.

After Dominica was devastated by Tropical Storm Erica in August 2015, the Minister for Health and Environment, Dr. Kenneth Darroux, said Dominica had never seen a disaster of such proportions in terms of damage to infrastructure and the loss of life. Infrastructural damage was estimated at $1.4 billion. Minister Darroux said the storm caused the government to revisit its land use, policies, and regulations.

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Caribbean Warned To Prepare For More Severe Storms - Caribbean360.com (subscription)

Study on Rising Costs of Fishing Concluded for Caribbean states – Caribbean360.com (subscription)

Posted on February 25, 2017 by Danzig

Claudia Stella Beltrn Turriago, economic consultant, interviewing fishers at Northern Fishermens Cooperative in Belize City, Belize (Photo: CRFM)

BELIZE CITY, Belize,Friday February 24, 2017 A landmark study to look at the impacts of rising cost factors on fishing operations in the Caribbean has been concluded.

And theCaribbean Regional Fisheries Mechanism (CRFM), in collaboration with FAO, will convene a validation workshop at the United Nations House in Barbados next Monday and Tuesday to review the findings and chart the necessary course of action.

At that meeting, CRFM Executive Director Milton Haughton will present a general overview of the project and explain what the workshop is expected to achieve. The background, findings, conclusions and recommendations of the study will be presented by Claudia Stella Beltrn Turriago, economic consultant, for final refinement.

The study, carried out in select CRFM member states, focused on factors such as capital, labour, maintenance and energy costs.

Participants at next weeks meeting will review and finalize the formal report on the findings of the study, as well as propose workable policy options and strategies to improve efficiency, productivity and sustainability in the fisheries sector. The broader aim is to improve competitiveness and profitability at the local, regional and international levels.

The initiative will also inform strategies to protect against future economic shocks, reduce barriers to market access, and compensate for price fluctuations for fisheries produce by building on the value-added dimension of the industry.

Last May, the CRFM convened a meeting of fisheries experts in Barbados to create a roadmap, including the best methodology for the study. They also selected the beneficiary countries targeted for fieldwork and remote surveys, which entailed surveys of small-scale and industrial fishers, suppliers, traders and exporters.

Later that same month, the consultant commenced field visits to Belize, St. Kitts and Nevis, and St. Vincent and the Grenadines. She also conducted remote surveys for Guyana, Grenada, Colombia, and Trinidad and Tobago.

All 17 states which are members of the Caribbean Regional Fisheries Mechanism, as well as countries covered by a UN/FAO project on the Sustainable Management of Bycatch in Trawl Fishing in Latin America and the Caribbean (the REBYC-II LAC), funded by the Global Environment Facility (GEF), are expected to benefit from the broader application of the studys findings.

The CRFM will prepare a policy brief for action by Caribbean leaders, to highlight the major findings and recommendations, including policy options and strategies to increase efficiency, productivity and sustainability of the fisheries and aquaculture sector, while reducing economic risks.

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Study on Rising Costs of Fishing Concluded for Caribbean states - Caribbean360.com (subscription)

RORC Caribbean 600: Bella Mente Takes Overall Title – Scuttlebutt Sailing News

Posted on February 25, 2017 by Danzig

(February 24, 2017) As dawn broke on Day 5 of the RORC Caribbean 600, crews who had finished the race were beginning to arrive back in Antigua. Every boat, regardless of where they were moored, was met by the RORC Caribbean 600 volunteers, armed with a celebration banner and cold beer. The restaurants and coffee shops around Falmouth Harbour were filling up with sailors, hungry for a square meal full of stories about their RORC Caribbean 600.

Class40 winner by just 33 minutes, Peter Hardings Ph-orty RORC/Ted Martin

As the sun rose the leading Class40s were approaching the finish. Throughout the race, the battle in the class had been intense, with three yachts taking the lead at various points along the course. Peter Hardings Ph-orty was leading at Redonda, just ahead of Catherine Pourres Erendil and Halvard Mabires Campagne de France was in third. All three yachts started the beat to finish with a chance of victory.

However, Erendils main halyard broke as the team hardened up for the beat and they were forced to reef and re-hoist. Ph-orty extended on the beat to take the gun and the class win by just 33 minutes. With Erendil under-powered, Campagne de France closed the gap and overtook them, just before the finish line, to snatch second place by just under two minutes.

In IRC One, Antiguas Bernie Evan Wong was tired but overjoyed to win the class racing his Antiguan RP37, Taz. Bernie has competed in all nine editions of the race and is proud to represent Antigua & Barbuda.

An emotional win in IRC One for Antiguas Bernie Evan Wong and his crew on the RP37, Taz RORC/Ted Martin

Unbelievable, just amazing, smiled Bernie, full of emotion. The team worked so hard, but was also a really happy bunch. I remember trying to take a rest but I couldnt sleep because there was so much laughter on the boat. We are the smallest boat in the race and to beat all of the big boats in our class is like a dream come true.

James Healds British Swan 45, Nemesis, racing doublehanded with Ben Harris is the runner up in IRC Two, a monumental effort for the short-handed team. Giles Redpaths British Lombard 46, Pata Negra is third.

In IRC Two, Ed Fishwicks J/122 Redshift on El Ocaso is the winner.

Ed Fishwicks J/122 Redshift on El Ocaso secure overall win in IRC Two. Crew for the RORC Caribbean 600: Nick Cherry, Robert Hillier, James Holmes, Ed Males, Luke Patience, Alan Roberts, Nick Bubb and Tom Whicher RORC

We have competed in this race with classic trade wind conditions, but this year we had a massive variety in weather on the course from big breeze in squalls, to fickle light winds. The guys did a fantastic job and we all agreed that this was the best 600 we have ever done. The whole crew was sensational, commented skipper, Ed Fishwick.

I couldnt have picked a better offshore race than the RORC Caribbean 600. It was a really cool experience, a great bunch of guys and my first offshore race, exclaimed Olympic 470 Silver medallist, Luke Patience.

Day one we saw a water spout, hump back whales; it was all kicking off, just epic! It was wonderful steering a boat at night, sailing by feeling the flow underneath you. The watches just flew by, I really enjoyed the race and it was very inspiring. The difference between offshore and Olympic sailing is that this is relentless, you are at it day and night. Where the two are wildly different is that with offshore sailing you are not in control all the time, you have to give a good handover to the next watch. However both disciplines require that you never take your foot of the gas.

While Redshift on El Ocaso is the provisional winner for IRC Two, a battle is raging for the remaining podium places between three British yachts. Ross Applebeys Oyster 48, Scarlet Oyster is currently estimated to be in second place. Dominic Hurndalls British Grand Soleil 43, Jua Kali in third. Andy Middletons First 47.7, EH01 is in fourth.

Hap Fauths Maxi72, Bella Mente declared overall winner

Hap Fauths American Maxi72, Bella Mente has been declared the overall winner of the RORC Caribbean 600 Trophy. Whilst yachts are still racing, none of the fleet can beat Bella Mentes corrected time under IRC. This is the second time Bella Mente has won the race overall and was a sweet victory after retiring last year with keel problems.

Event details Tracker Notice of Race Entry list

Background: The 9th edition of the RORC Caribbean 600 starts from Antigua on Monday February 20, 2017. The 600nm course circumnavigates 11 Caribbean Islands starting from Fort Charlotte, English Harbour, Antigua and heads north as far as St Martin and south to Guadeloupe taking in Barbuda, Nevis, St Kitts, Saba and St Barths.

Source: Royal Ocean Racing Club

Continued here:

RORC Caribbean 600: Bella Mente Takes Overall Title - Scuttlebutt Sailing News

Senate gives nod to Caribbean Maritime University – Jamaica Gleaner

Posted on February 25, 2017 by Danzig

An untidy committee session of the Upper House yesterday marred what was an otherwise rare sitting of the Senate, where not a single senator opposed the bill to make way for the Caribbean Maritime Institute Act, to now be known as the Caribbean Maritime University Act.

Senator Ruel Reid, who piloted the bill, also deputised for Leader of Government Business Senator Kamina Johnson-Smith, who was absent.

The bill was passed with 26 amendments in front a gallery filled with students and lecturers from the Palisados, Kingston-based institution.

The 10 senators who spoke yesterday gave glowing tributes to Dr Fritz Pinnock, who is slated to become the first president of the university. They were unanimous and generous in their praise of his visionary leadership, the discipline of the students, the economic opportunities the university has brought to the nearby communities, the marketability of the students and the economic benefits the graduates will bring to the Jamaican economy.

Reid praised Pinnock for his trailblazing effort in creating a niche market university while supporting the need for maritime clubs across the island.

Senator Mark Golding praised the effort of Pinnock for creating an institution of international repute, while he used the opportunity to tidy elements of the language of the bill.

Senator Don Webhy said the university should be marketed as a foreign exchange earner, while Senator Wensworth Skeffery said he hoped the way was being paved for individuals from rural Jamaica to study there.

Senator Kavan Gaye said it was significant that it was coming to the Upper House on the 133rd birthday of Sir Alexander Bustamante - a champion for port workers, while Senator Floyd Morris praised the effort of former minister Horace Clarke for planting the seed which has led to the CMU.

Senator Angela Brown-Burke said the university was providing training for women in non-traditional areas, and Senator Lambert Brown went copiously through the bill to make sure that workers' rights were protected.

An untidy session followed when the Senate was dissolved into a committee to consider the clause by clause amendments. Senators were asked to vote on amendments they did not have, as insufficient, correct copies of the amended sections were unavailable.

In one instance, one copy of the amendment was sent to the Opposition benches for the five senators, with Reid intructing them to "share". Reid found himself reading and re-reading amendments, plus making trips to his "technical people" for advice on aspects of the bill, much to the disinterest of government senators, who found other ways to amuse themselves.

Brown's concern that the minister appeared to have a strong hand in the selection of the council members was rejected.

erica.virtue@gleanerjm.com

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Senate gives nod to Caribbean Maritime University - Jamaica Gleaner

Cable & Wireless Flows the Caribbean TV shows’ talent – Rapid TV News

Posted on February 25, 2017 by Danzig

Three of the Caribbeans leading film producers will develop pilots for original TV series projects thanks to funding from Cable & Wirelesss Flow and CaribbeanTales Media Group.

With $40,000 funding for each project, production work will begin on Battle Chronicle, a sci-fi/drama animated series created by Alain Bidard; and continue with Heat, a drama series filmed in Barbados from Menelik Shabazz, and Caribbean Girl NYC, a female-driven sitcom from New York-based Guadeloupian filmmaker Mariette Monpierre.

We recognise the significant hurdles that Caribbean producers face in financing and producing their content, and getting it out to audiences, said John Reid, CEO of Cable and Wireless, operator of Flow. We are honoured to help support this programme that is enabling the production and monetisation of this exciting emerging cultural industry.

Production on the pilots will begin in April 2017 and all of them will premiere this year at the 12th annual CaribbeanTales International Film Festival(CTFF)(CTFF), of which Flow is also a sponsor. It will be held in Toronto, Canada, between 6 and 20 September.

Frances-Anne Solomon, CEO of CaribbeanTales, added: We are delighted that, together with Flow, we are able to provide the Caribbeans top filmmakers with funding and a platform to produce top quality, local, content with the capacity to reach audiences across the region and the world.

Original post:

Cable & Wireless Flows the Caribbean TV shows' talent - Rapid TV News

‘S. China Sea is not Caribbean’: Chinese media slams ‘reckless’ US behavior in disputed waters – RT

Posted on February 25, 2017 by Danzig

Published time: 24 Feb, 2017 15:14Edited time: 24 Feb, 2017 15:24

Washingtons attempts to militarize the South China Sea and tame the Chinese dragon would see Beijing deploying weapons systems in the contested area, a state-run newspaper wrote in an op-ed addressed to the US military brass.

The article comes on the heels of heightened tensions between the two world powers in the South China Sea, a strategic region that houses important maritime routes and rich natural resources.

Aren't US carrier groups' constant patrols in the South China Sea the most prominent militarization in the waters? Aren't the public statements made by the US military, that all its moves were done to warn China, direct military threats? the Global Times state-run daily wrote.

While saying Washington hopes Beijing would grin and bear it, the newspaper added: the South China Sea is quiet now, mentioning bilateral talks with neighboring Vietnam and the Philippines intended to mend ties.

Earlier in February, the US Navy deployed a strike group of Nimitz-class aircraft carrier USS Carl Vinson and the Arleigh Burke-class guided-missile destroyer USS Wayne E. Meyer to conduct routine operations in the South China Sea.

The Chinese Foreign Ministry described the deployment as threatening and damaging the sovereignty and security of littoral countries under the flag of freedom of navigation and overflight, adding that China always respects the freedom of navigation and overflight all countries enjoy under international law.

Aside from the US deployment, Reuters reported that Indonesia will discuss the prospect of joint maritime patrols in the South China Sea with Australia at a meeting between President Joko Widodo and Prime Minister Malcolm Turnbull this weekend.

The Global Times editorial specifically mentioned the issue of the US patrols, but it also sent a broader message to the American military commanders; some of their bellicose remarks made earlier this year do not allow hopes to be set very high for US-China reconciliation.

As long as the US does not carry out provocative moves in the waters, the South China Sea will be peaceful, the Global Times stated. If the US military insists on showing that it is capable of taming the China Dragon, they are bound to see all kinds of advanced Chinese weapons as well as other military deployments on the [South China Sea] islands.

The South China Sea is not the Caribbean. It is not a place for the US to behave recklessly. US generals said they are ready to fight when necessary. The People's Liberation Army is also making preparations, it said in conclusion.

China claims sizable parts of the South China Sea, while the area is also disputed by Brunei, Malaysia, the Philippines, Taiwan, and Vietnam. The US and its regional allies accuse Beijing of executing an elaborate land-grabbing plan, particularly by building artificial reefs and dual-use facilities in the South China Sea islands.

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'S. China Sea is not Caribbean': Chinese media slams 'reckless' US behavior in disputed waters - RT

AG warning about ‘Bahamas Grandkids Scam’ – Artesia Daily Press

Posted on February 25, 2017 by Danzig

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Attorney General Hector Balderas has issued a second Scam Alert this week, this time warning senior citizens to protect themselves against the Bahamas Grandkids Scam hitting New Mexico.

Scammers are calling New Mexico senior citizens from Ontario, Canada, and Maryland telephone numbers claiming their grandchild is in jail for drunk driving in another country, namely the Bahamas. The scammers tell elaborate stories, including details of a destination wedding the grandchild traveled to, then explain that after the wedding, the grandchild was arrested.

The scammer does not let the grandparent speak to the grandchild because they are in court, but they do urge them to call a second number to post bail. When the grandparent calls the second number, they are informed of a deal if they obtain a prepaid debit card from Wal-Mart, the bail will be $2,000 instead of $3,000. They are then asked for that prepaid card number.

Im asking all of our families to be on guard for this scam as it preys directly on the love, trust and kindness of our New Mexico grandparents, Balderas said. If someone calls to tell you a family member is in jail in another country and wants money from you, please verify this information with other family members before you consider taking any action. These scammers want to scare you into giving them information and money, but do not let their lies intimidate you.

Recent numbers associated with this scam are Maryland number 1-443-687-8088 and Ontario, Canada, number 1-437-344-0996, but this scam originates from other numbers, as well. This is an old scam with a new twist and can include a variety of different lies to trick people.

The Office of the Attorney General was alerted to this new version by an 83-year-old grandmother and retired law enforcement officer who went all the way through the scam, without giving any money, and wanted to warn the public about the details.

Anyone believing they have received such calls is asked to report them to the Office of the Attorney General by calling toll-free, 1-844-255-9210.

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AG warning about 'Bahamas Grandkids Scam' - Artesia Daily Press

Caribbean Hotel And Tourism Assoc. Helps Hurricane-Affected Haiti & The Bahamas – South Florida Caribbean News

Posted on February 25, 2017 by Danzig

MIAMI The Caribbean Hotel and Tourism Association (CHTA) presented checks totaling $70,000 to hotel associations in Haiti and The Bahamas to assist residents in both countries with Hurricane Matthew relief efforts.

Recognizing the considerable hardship and damage which Haiti and part of the northern Bahamas faced in the aftermath of the hurricane, CHTA President Karolin Troubetzkoy called upon fellow hoteliers in the region to respond to the associations call for support.

CHTA developed a fundraising initiative through online auction channel CharityBuzz, with which CHTA previously collaborated on a relief and recovery project for Dominica. Regional hoteliers donated room nights for the auction to benefit residents in Haiti and The Bahamas, some of whom continue to struggle to put their lives back in order.

Thanks to the generosity of our CHTA members, we are heartened to make these contributions to our sister organizations, said Troubetzkoy. Our Caribbean countries and the industry responded when help was needed and I wish to thank those who answered the call.

Hotelier Agnes Pierre-Louis receives Haitis donation from (l-r) Vanessa Ledesma, Frank Comito and Karolin Troubetzkoy of the Caribbean Hotel and Tourism Association.

In Haiti, Hurricane Matthew claimed almost 1,000 lives in the southwestern part of the country and devastated agricultural and fishing sectors, flora, natural attractions, schools and homes, leaving thousands of families homeless and unable to meet basic human needs. In The Bahamas, there was severe damage on Grand Bahama Island, North and Central Andros, and the Berry Islands.

The Bahamas Hotel & Tourism Associations (BHTA) President Carlton Russell receives CHTAs contribution from President Karolin Troubetzkoy.

Troubetzkoy presented a $25,000 check to The Bahamas Hotel & Tourism Associations President Carlton Russell at Caribbean Travel Marketplace at the Atlantis Paradise Island Resort in January. A check for $45,000 was presented to Agnes Pierre-Louis, Treasurer of LAssociation Touristique dHaiti.

In consultation with CHTA, the Bahamas and Haiti Associations have identified areas where relief will be targeted, aimed at addressing long-term improvements to those affected.

Guadeloupe End Bahamas Hopes Of Progress In Beach Soccer Championship – Bahamas Tribune

Posted on February 25, 2017 by Danzig

By BRENT STUBBS

Senior Sports Reporter

bstubbs@tribunemedia.net

BEFORE a packed crowd at the newly built facility at Malcolm Park at the foot of the Sir Sidney Poitier Bridge on Friday night, the Bahamas suffered a heartbreaking 5-3 loss to Guadeloupe in the quarter-finals of the CONCACAF Beach Soccer Championship.

Even with more Bahamians lining the bridge and hundreds locked out in their effort to get into the stadium, the host team found themselves trailing on three occasions but battled back to even the score at 3-3 after two periods. However, Theo Gelas struck a pair of goals late in the third period to complete his hat-trick and secure the win for Guadeloupe which advanced them to a semi-final against Mexico on Saturday night.

The Bahamas, coming off three straight impressive victories to win group A in the round robin segment, will be back in action on Saturday at 5.30pm when they take on Trinidad & Tobago to determine which of the spots between fifth and eighth they will end up playing for on Sunday when the week-long tournament come to a close.

"We started off a little shaky in the first period, but I felt as if we regained our composure in the second and third periods, but some good playing by Guadeloupe held off our strong attack," said Bahamas' goalkeeper Ivan Rolle. "Anytime you are playing in sand, it's difficult, but we trained hard and we tried to stick to our game plan as much as possible."

Rolle, who had his most difficult match so far in the tournament, said the Bahamas would have preferred to be playing in the semi-finals, but they hope to come back and finish the tournament on a strong note just as they started on Monday.

"We were expecting to finish as least top four in this tournament, so it's very heartbreaking," Rolle, who was distraught at the final whistle, pointed out. "We want to use this tournament as a stepping stone to really show the world that we are ready to play at this level."

Rolle was referring to the FIFA Beach Soccer World Cup that will take place at the same facility in April. By virtue of being the host, the Bahamas have already qualified. Two more teams will join the Bahamas at the end of the tournament on Sunday.

As they use this tournament as a stepping stone to the more prestigious tournament ahead, Rolle said he was encouraged when he looked up and saw the tremendous support they received from the Bahamian public as the stadium was packed to its 3,000 capacity and people lined the Sir Sidney Poitier bridge to watch from outside as they couldn't get in.

Each time Guadeloupe scored in the first two periods, the Bahamas answered until Gelas put the game away for good in the third.

Damien Granchi-Constant, the Guadeloupe captain, took advantage of a loose ball to volley in from long range over Rolle after four minutes but Gary Joseph levelled 30 seconds later after some neat footwork. But within two minutes Gelas nodded in his first at the far post from a throw-in to put Guadeloupe in front and then Lesly St Fleur saw his penalty brilliantly saved by the goalkeeper, who had an excellent match. Sebastien Hell, joint top scorer in the tournament with St Fleur going into the game, gave notice of his threat by hitting the post just before the end of the period.

Joseph struck again early in the second to even the score at 2-2 but three minutes later, the imposingly physical Hell rose above the Bahamas defence to head Guadeloupe in front 3-2. St Fleur, having a sensational tournament, finally got through to tie the score at 3-3 just before the end of the period - his ninth goal of the event.

In the third period, the deadlock was broken when Gelas escaped onto a long ball forward and then punished confusion in the Bahamas defence at a corner to slide in at the far post with four minutes to go. Joseph fired in a free kick as the clock ran down on the Bahamas but the goalkeeper made another fine diving save.

Mexico, the defending champions, await Guadeloupe in the semi-finals on Saturday while El Salvador tackle the surprise package Panama. El Salvador cruised past Jamaica 5-0, Panama upset the United States 6-4 and Mexico saw off Trinidad and Tobago 5-1 in the other quarter-finals.

In the lower placement games played on Friday, Barbados defeated Turks and Caicos Islands 5-2; Belize stunned US Virgin Islands 6-4 after extra time; Costa Rica outlasted Canada 3-2 on penalties after they were tied 2-2; and Guyana held off Antigua and Barbuda 6-4.

RESULTS

Friday

Placement matches

13th place first round: Barbados 5 Turks & Caicos Islands 2

13th place first round: Belize 6 US Virgin Islands 4 (after extra time)

9th place first round: Canada 2 Costa Rica 2 (Costa Rica win 3-2 on penalties)

9th place first round: Guyana 6 Antigua & Barbuda 4

Quarter-finals

El Salvador 5 Jamaica 0

United States 4 Panama 6

Mexico 5 Trinidad & Tobago 1

Bahamas 3 Guadeloupe 5

PROGRAMME

Saturday

11.15am: 13th place second round: Turks & Caicos Islands v US Virgin Islands

12.30pm: 13th place second round: Barbados v Belize

1.45pm: 9th place second round: Canada v Antigua & Barbuda

3pm: 9th place second round: Costa Rica v Guyana

4.15pm: 5th place semi-finals: Jamaica v United States

5.30pm: 5th place semi-finals: Trinidad & Tobago v Bahamas

6.45pm: Semi-finals: El Salvador v Panama

8pm: Semi-finals: Mexico v Guadeloupe

Sunday

11.15am: 15th place match

12.30pm: 13th place match

1.45pm: 11th place match

3pm: 9th place match

4.15pm: 7th place match

5.30pm: 5th place match

6.45pm: 3rd place match

8pm: final

The two finalists will qualify for the World Cup in Nassau from April 27 to May 7. If non-FIFA members Guadeloupe reach the final the third place winners will take the qualification spot.

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Guadeloupe End Bahamas Hopes Of Progress In Beach Soccer Championship - Bahamas Tribune

Mitsubishi UFJ Financial Group: More Questions Than Answers (Negative Rates, Offshore Funding, And LNG Exposure) – Seeking Alpha

Posted on February 25, 2017 by Danzig

Last year, I was endlessly ringing the alarm bells about Japanese financials, particularly the impact of negative rates on profitability (e.g. net interest margin) and of money market reform and dollar strength on offshore funding, i.e. funding for overseas operations. (See here, here, and here.)

With all of the 'happenings' going on in the U.S. currently as it relates to politics and financials, it's been easy to forget about the global reality... that is, that a third of the world's credit assets are still negative-yielding, that deflationary pressures are still alive and well despite the positive trend shift in the U.S. and other key areas (e.g. PPI in China), and that the Japanese financial sector is still under significant stress.

So, returning to the topic of Japanese financials, in its CLSA Japan Investors Forum presentation this year, Mitsubishi UFJ Financial Group (NYSE:MTU), one of the "Big 4" of the Japanese financial institutions, sought to lay out how it is addressing these ongoing situations and how it plans to achieve growth in the future. Of particular note was the focus on negative rate impact and non-JPY (i.e. offshore) funding for its foreign operations; if MUFG felt it necessary to address these issues in front of its large institutional investor clients, it must be of ongoing concern.

Negative Rate Impact and Offshore Funding

On negative rate impact, MUFG states its impact on lending has generally been in line with expectations. If you've been a follower of mine, you're probably well aware of the "in-line expectations" of the effects of NIRP in Japan, but to review, the effects have been namely:

What is most concerning is MUFG's "initiatives" to counter the effects of NIRP. MUFG offers little substance on how it is trying to counter its declining profits as a result of NIRP; the details it does present amount to mere sales promotion, pushing customers into alternative investment products and other strategies. That's all well and good, but where is the concrete guidance? No mention of the impact of NIRP as it relates to exposure to synthetic derivatives, e.g. IRSs or CDSs, (not that any bank provides proper info on derivatives exposure anyway) or MUFG's high exposure to variable rate products on the asset side of the BS leaves me with more questions and concerns than before.

As for offshore funding crunch concerns, MUFG does seek to allay fears of any such contagion occurring.

By relative comparison, MUFG's exposure to the commercial paper (CD/CP) market - where most of this contagion related to dollar strength and money market reform has taken place - is smaller than that of other institutions. And that 70% of its offshore funding is backed by customer deposits is reassuring. However, regardless, overseas business will continue to suffer the effects of a stronger dollar, as we've already seen, from H1'15 to H1'16, the impact from exchange rate losses for overseas business with Japanese corporates depressed gross profits to the tune of ~20 billion.

Light Natural Gas Exposure

Now, losses from money markets or forex are negative but are small enough to be mitigated. What is most concerning to me is recent events regarding the LNG (light natural gas) sector. Japan is the world's largest importer of LNG, mainly from the U.S. and Canada. For much of the past several years, natural gas prices have remained depressed along with crude and other energy products. However, as recently as this Tuesday, futures plunged by nearly 10% as the possibility of an El Nio event, i.e. warmer climate, in the U.S. increased; natural gas prices are down over 30% year-to-date and it's only been two and a half months. (See here, here, and here.)

From a macroeconomic perspective, this may sound great as Japan now gets to import energy on the cheap, however, from the perspective of a financial institution underwriting the finances of an LNG E&P or shipping company, this could spell big trouble.

The question we need to ask is: How much exposure does MUFG actually have to energy price volatility, specifically the latest LNG volatility?

Total and net exposure to the energy/mining sectors has been decreasing over time and now sits at ~9.1 trillion, or $80 billion; most large-scale financial institutions have pretty sizeable exposure to energy and commodities so this is not inherently unusual or negative. However, let's take a closer look.

Most of that exposure is concentrated in midstream (pipelines/vessels) and upstream (E&Ps) corporate credit in the Americas (mainly U.S. and Canada producers) and Japan (LNG ships/transport). If prices are plunging (in an environment of already depressed prices), this could disrupt the entire "LNG Revolution" which had promised to be Japan's cheap energy alternative to nuclear.

MUFG states that exposure to commodity price risk is limited in that only 38% of MUFG's project finance credit exposure contains such risk, however it bases such a definition on the notion that "...projects whose revenues are determined based on oil/gas process volume or facility operational days [is not exposed to commodity price risk]." This is questionable. If the natural gas market is in severe stress, that will affect volumes and whether or not those facilities remain operational, no? Thus, I am skeptical at how MUFG determines projects are completely free from commodity price risk for a commodity company.

Conclusion

MUFG is by no means in crisis mode. In fact, as detailed in its presentation, there are many reasons to invest in potential growth for the future, such as Bitcoin participation, RegTech, and AI-driven investing. (However, these are highly competitive fields with players that have a lot more capital to expend, so some caution is warranted.) But, the potential short-term impact from negative rates, dollar strength, offshore funding concerns, and LNG volatility could be acute and severe. And MUFG's response to these possible contingencies leaves me with more questions than answers.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Take to the high seas with Condor Sailing Adventures – Pensacola News Journal

Posted on February 25, 2017 by Danzig

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There are numerous ways to experience the outdoors in the gulf coast, but one very unique and memorable way is to sail on a rare world-class 40 ft. Condor sailboat.

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Sam Smith, thebacon@pnj.com 4:27 p.m. CT Feb. 24, 2017

Sunset Lovers at Bridge Bar on July 16.(Photo: Julie Umemura)

There are numerous ways to experience the outdoors in the gulf coast, but one very unique and memorable way is to sail on a rare world-class 40 ft. Condor sailboat. You can enjoy a romantic sunset, dip your toes over the side and experience phenomenal views with friends, watch the Blue Angels practice with your family onspacious side decks and comfortable seats, and even enjoy the full moon in the night sky.

These intimate adventures are two hours long with a maximum of sixguests. With plenty of room, you and your loved ones can sun bathe on floats, learn how to sailand take in views on the calm blue waters of Pensacola Bay with possible dolphin sightings. For $85 per person and $25 off kids 12 and under, you can experience one of these unique adventures.

THE BACON APP

For the best underground info in one spot the best bars, best food, best concertsand best experiences only the locals know download our free entertainment app. The Bacon is in the Apple and Google Play stores and ready to be downloaded today.

Daily options:

2 p.m. cruise

Sunset cruise

Additional options:

Mornings with the Blue Angels - 11 a.m. - Most Tuesdays and Wednesdays just off the Navy base

Private cruises are also available to enjoy a romantic excursion or a day with friends and family. This two-hour cruise is $449 and may include up to 6 guests. This adventure docks from the Fish House where one can enjoy lunch or dinner before or after sailing.

Moonlight Cruises are also available for two days each month, so be sure to sure to contact Condor Sailing Adventures at 850-637-7245 to check for availability and confirm departure locations, or visit http://www.condorsailingadventures.com/request-a-reservation/ to request a reservation.

Looking for that perfect romantic gift? The Ultimate Romantic Sunset Cruise offers an intimate evening with music by a professional violist and guitarist duo (which take requests) for $799 for an unforgettable evening watching a gorgeous sunset over the bay.

Tips:

There are only 21 Condor racing trimarans in the world, so be sure to come experience Dare IIs relaxing and fun adventure for all ages in Pensacola.

Read or Share this story: http://on.pnj.com/2mgoMzr

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Take to the high seas with Condor Sailing Adventures - Pensacola News Journal

Seven island houses where you can shut out the world – AOL Money UK

Posted on February 25, 2017 by Danzig

Some people want to live in the heart of the community; others want to get away from it all.

And if this is you, how better to shut out the world than by retreating to your very own island?

From moated manors to remote Scottish retreats, we look at some of the best island homes on the market.

The UK's favourite homes revealed

Holms of Stromness, Orkney

You get two private islands for your money here: the Inner and Outer Holms of Stromness are tidal islands that form part of the harbour of Stromness. On the Inner Holm is a large building holding a four-bedroom main house and a two-bed annexe. There's a gorgeous wood-floored living room and a comfortable farmhouse kitchen.

While the islands are connected to the mainland by a causeway at low tide, you'll need a boat the rest of the time. The property has its own wind turbine, so at least you should have power. Agents Vladi Private Islands describe it as 'idyllic' and are asking for offers over 300,000.

Norton Disney, Lincoln

The location of this three-bedroom house is truly stunning: an island overlooking its very own large lake at the heart of 12 acres of managed ancient woodland full of muntjac and roe deer. Unsurprisingly, it's featured on several television programmes, from Grand Designs Extra to BBC Breakfast.

Six houses that help you beat your energy bills

Valasay, Isle of Lewis

You don't quite get the whole island to yourself - but not far off, and you certainly couldn't wish for a more peaceful location. This three-bedroom house, built in about 1910, has been extended and refurbished since. It now includes a decidedly non-traditional spa-style relaxation suite with and indoor Endless Pool and sauna, as well as a modern kitchen and refurbished bathroom and shower room.

There's a large deck with panoramic views of the Atlantic and an acre and a half of land; more's available by separate negotiation. Agents CKD Galbraith are looking for offers over 340,000.

Nether Alderley, Cheshire

This glorious six-bedroom manor house is like something from a fairytale, set on an island on a private lake with 12 acres of grounds. Dating mainly from the seventeenth century, it's full of original features, from stone architraves, fireplaces and flooring to beamed and strapped ceilings.

Now, though, it has all mod cons, with the recent installation of several new bathrooms and a Smallbone bespoke kitchen with Jerusalem stone flooring and a double Aga. Outside, there are barns, stables and other buildings. The Old Hall costs 3.95 million through agent Savills.

St Vincent and the Grenadines

If you can get the $10 million price together - and, let's face it, who hasn't got that down the back of the sofa? - then you'll be lord of all you survey with this Caribbean island resort. This 12-acre island includes 29 private guest cottages, all with sea views and some with private plunge pools.

There's also a spa, two restaurants and a range of other buildings - and a white sandy beach, unusual in an area that's mostly black volcanic sand. It's just 200 yards from the coast of mainland St Vincent, with a dock and yacht anchorage. Contact agent Grenadines Islands Villas for more information.

Seven houses decorated with jaw-dropping bling

Lewes, East Sussex

For total privacy, you'd need to replace the three bridges leading to Chailey Moat with a drawbridge; but otherwise this glorious sixteenth-century former rectory is the perfect retreat. Set in 44 acres, it is now a beautiful seven-bedroom home, with an additional four-bedroom tithe barn and two-bedroom cottage.

Legend has it that the moat was dug singlehandedly in the eighteenth century by the then rector, Richard Porter, but it's actually believed to be much older and may be all that remains of a medieval fortified farm. The house itself is stunning, with oak-panelled reception rooms and the lovely touch of two Juliet balconies opening directly over the moat. Agents Savills are looking for offers over 5 million.

West Drayton, Middlesex

Set on its own island surrounded by the River Colne, Weir Cottage is rather larger than its name implies. It is currently split into two four-bedroom sections, as well as a one-bedroom annexe, but could be redeveloped, the agents say. In total, there are nine bedrooms, four bathrooms, four reception rooms and three kitchens.

Outside, the two acres of land include a number of outbuildings including workshops, garage, stables, paddocks and storage units. The house costs 1.3 million through agent Coopers.

The rest is here:

Seven island houses where you can shut out the world - AOL Money UK

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