Monthly Archives: February 2017

Mary Hansen Staff Writer @maryfhansen

In 2015, City Water, Light and Power came to the Springfield City Council with a problem. The public utility was at risk of a technical default on its bonds and needed a quick infusion of cash.

The council eventually approved what amounted to a $4.4 million bailout for CWLP. City officials then went to work on refinancing the electric funds debt, renegotiating its coal contract and restructuring electric rates, which they see as largely successful efforts to turn around CWLPs finances.

With the city facing dropping revenues and a tough budget year, some aldermen say now its time for the utility to pay back at least some of that $4.4 million.

But utility and city officials warn that a transfer could set back the progress theyve made. City lawyers are looking intoif its legally possible.

The situation is in fact the reverse of what it was two years ago, said Ward 7 Ald. Joe McMenamin, who is pushing for the transfer of $1.3 million from CWLP to the citys main account, which is called the corporate fund and pays for most non-utility city services.

The electric division was suffering financially and the corporate fund was growing, he said. Now the electric division is very healthy and corporate fund is suffering because of a downturn in the local economy.

Worries about rating agencies

Mayor Jim Langfelder has often touted CWLPs turnaround, including its stable bond rating, as a key accomplishment for his administration and the council that took office in 2015. He has said a payback could send the wrong message to credit rating agencies.

Chief engineer Doug Brown echoed these concerns, saying the agencies would have a negative outlook on the transfer and it could lead to a credit downgrade. Credit ratings determine how much interest the utility pays on its bonds.

It will take a very long time to recover from this action and counter another negative outlook, Brown wrote in an emailed statement. Any ratings downgrade is an increase in costs to our customers, the citizens of Springfield.

CWLPs contracted financial analyst told the utility any transfer would trigger a credit review by an agency, according to spokeswoman Amber Sabin.

A spokesman for Moodys Investors Service declined to comment so early in the discussion on the proposal but said Moody's would be monitoring the situation.

In the fall of 2015, Moodys improved its outlook on the CWLP electric funds finances, changing it from negative to stable, just after the council voted change the way the utility charged customers.

In its report, the agency said that if officials stopped supporting improvements to CWLPs financial position, it could lead to a downgrade of the utilitys credit rating.

The $1.3 million transfer could be seen as weakening support, Sabin said.

But McMenamin argued that the transfer amount is relatively small compared to the utilitys more than $300 million budget.

I think the bond rating agencies are looking at broader trends than a $1.3 million transfer, he said. Theyll be looking at continued strength of the debt coverage ratio and continuing reserves of electric division, which is whats happening.

He pointed to a recent quarterly update from the utility that put its monthly reserves at $18 million in November.

Still, according to the utility, the standards set by rating agencies for utilities CWLPs size is having $33.9 million cash on hand.

Legal issues

McMenamin has introduced two measures to repeal the 2015-bailout ordinances, which the council could discuss Tuesday at its committee meeting.

At the time, the ordinances waived the utilitys payment in lieu of taxes, which is money CWLP pays into the corporate fund, and instituted a refund of previous payments if necessary to ensure that CWLP had enough money to meet its debt coverage ratio for the fiscal year.

Payments were waived or refunded enough for the utility to meet their obligations that year. But, Sabin warns, if the money was paid back, auditors could revise that fiscal years books, triggering a review and potential downgrade from rating agencies.

Plus, the first ordinance stated that the amount would not have to be repaid, Brown pointed out.

But the council has the power to change what the previous council passed and should do so because the financial situation has changed, McMenamin countered.

That should be an option on the table for the mayor, McMenamin said. There should be a full repayment if the electric division continues to grow more financially healthy and if there is a need.

-- Contact Mary Hansen: 788-1528, mary.hansen@sj-r.com, twitter.com/maryfhansen.

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CWLP officials: Bailout repayment would set back progress - The State Journal-Register

executive summary

This mid-year progress report covers the period January through June 2016 and provides an update on results achieved as measured against the full range of indicators included in the Syria Regional Crisis Emergency Appeal (EA) for 2016. An annual report covering the whole of the year will be issued in April 2017.

Overview

In Syria, six years of armed conflict have precipitated a humanitarian crisis, resulting in thousands of civilian deaths, massive population displacement and untold deprivation. Of the estimated 450,000 Palestine refugees that remain inside the country, 280,000 are internally displaced and 45,000 are trapped in hard-to-reach or inaccessible areas. The first half of 2016 was marked by renewed political efforts to secure a cessation of hostilities, ensure unimpeded access for humanitarian deliveries and pave the way for the resumption of meaningful negotiations for a peaceful solution. Unfortunately, the fragile ceasefire, brokered in February 2016, resulted in only a temporary reduction in violence that was followed by a re-escalation in the conflict. Against this backdrop, humanitarian conditions continued to deteriorate. Approximately 95 per cent of Palestine refugees in Syria are in need of sustained assistance as they face profound humanitarian needs, severe protection threats and significant reversals in human development.

Adverse socioeconomic conditions also affect the estimated 47,000 Palestine refugees who have fled Syria and remain in neighbouring Lebanon and Jordan, where many have been pushed into a marginalized existence. In Lebanon, Palestinian refugees from Syria (PRS) are especially vulnerable due to their precarious legal status. Effectively denied access to most public services and facing restricted access to employment opportunities, many live in fear of forcible return and detention and are vulnerable to exploitation and abuse. In Jordan, a government policy of non-admission has posed a significant obstacle to PRS entering the Kingdom, with only 16,445 PRS officially residing in the country. Often without legal status, most PRS are prevented from securing employment, accessing public services and are exposed to protection threats, including the risk of arrest and forcible return. Compared to other refugees fleeing the conflict in Syria, PRS in both Lebanon and Jordan struggle with fewer coping mechanisms and exhibit signs of shrinking resilience and deepening poverty that is reflected in their continued reliance on United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) services to cover vital needs.

The UNRWA Response

During the first six months of 2016, UNRWA continued to provide life-saving assistance and protection to over 450,000 Palestine refugees affected by the Syria crisis, including inside Syria and in Lebanon, Jordan and Gaza. The Agency also extended basic health and quality and inclusive education services to Palestine refugees inside Syria and those forced to flee. In total, over 45,000 Palestine refugees were enrolled in UNRWA schools inside Syria, while over 5,300 PRS children were accommodated in Agency schools in Lebanon and 1,400 PRS and Syrians in Jordan. Primary health care was dispensed through 15 UNRWA health centres (HCs), 11 health points (HPs) and one mobile HP inside Syria. In Lebanon, care was provided to PRS through 26 HCs and one HP and in Jordan through 25 HCs and four mobile clinics. Though the Agencys Technical and Vocational Education and Training (TVET) programme, short-term courses and professional coaching services were offered in both Lebanon and Jordan to support 314 PRS and Palestine refugees in Lebanon (PRL) and a further 27 PRS in Jordan. UNRWA also continued to deliver potable water, maintain sewerage networks and provide solid waste management in seven accessible camps in Syria out of the nine official camps and three unofficial camps that were serviced prior to the conflict. A similar range of assistance measures to improve the urban camp environment was implemented in Lebanon.

Throughout the first half of the year, the UNRWA protection response was enhanced through increased coverage in Syria that expanded on gender-based violence (GBV) interventions to include general and child protection. In Lebanon, the Agency worked with local child protection actors and the national child protection system to strengthen responses in Palestine refugee camps, while in Jordan, teams of area-level protection social workers were deployed to facilitate direct intervention and referrals to specialized assistance. In addition, protection response training was delivered to front-line staff, while a case tracking and referral database was established to facilitate accurate and consistent data collection and analysis.

Impact of Underfunding

UNRWA would like to acknowledge the continued and generous support of its many donors that have allowed the Agency to extend emergency assistance to Palestine refugees in Syria and PRS in Lebanon and Jordan. The 2016 EA requires a total of US$ 413.9 million to cover the overall cost of the emergency interventions. As of 30 September 2016, however, only US$ 142,814,183 had been received, covering 35 per cent of needs and leaving a funding gap of US$ 271.1 million. This translates into a shortfall against need of 66 per cent in Syria, 61 per cent in Lebanon and 64 per cent in Jordan.

The EA funding gap prevented UNRWA from implementing the full range of emergency assistance measures planned for the first half of the year, particularly with regard to the provision of cash and food, shelter interventions, and the provision of livelihood support. During the reporting period, available resources in Syria were sufficient for two out of three rounds of cash assistance, covering only four months of need. In Lebanon, a rapid deterioration in the urban environment inside camps became more evident, while in Jordan, cash assistance was curtailed, affecting the Agencys ability to respond to basic needs, including the provision of winterization assistance. Moreover, the Agency had to delay the start of livelihood support in Syria and decrease the number of technical and vocational training courses offered in both Lebanon and Jordan. Across all three fields, requirements for the emergency shelter response were left unmet.

The emergency services provided by UNRWA constitute the minimum support necessary to meet the critical needs of Palestine refugees affected by the conflict in Syria. Any reduction in planned assistance could have further profound repercussions in terms of eroding household coping capacities and their ability to further withstand crisis situations. Anecdotal evidence already suggests shrinking household resilience and an increased reliance on damaging coping strategies, such as the selling of critical assets, withdrawing children from school and cutting back on nutritious foods and/or health care. Into the second half of 2016, ensuring minimum life-saving support to Palestine refugees affected by the Syria crisis will continue to be among the Agencys foremost resourcing priorities.

See more here:

Syria Regional Crisis 2016 Emergency Appeal - Progress Report - Reliefweb

Turkish military vehicles drive in the northern Syrian rebel-held town of al-Rai, Syria January 5, 2017. Photo by Khalil Ashawi/Reuters

BEIRUT Turkish troops and allied Syrian opposition forces have managed to capture just one-tenth of a north Syrian town from Islamic State militants, a conflict monitoring group said Saturday, despite reaching its outskirts seven weeks ago.

The Britain-based Syrian Observatory for Human Rights monitoring group told the AP that nine-tenths of al-Bab remains under IS control. The Observatory receives its information from a network of contacts inside the war-torn country.

Battlefield reports from Syrian opposition forces corroborated the Observatorys review.

The Turkish-backed Ahrar al-Sham militia announced Saturday on Twitter that opposition forces had taken the citys silos and sports complex in its southwestern districts. The coalitions operations room released a video on social media showing its fighters at the gates of the Hikma hospital. Britain-based Syrian Observatory for Human Rights monitoring group also reported the hospitals capture.

But these amount to just marginal advances in the town, where some 100,000 residents lived before the start of the Syrian civil war, six years ago. Al-Bab lies about 30 kilometers (19 miles) from the Turkish border.

Turkey is leading Syrian opposition forces in a broad operation called Euphrates Shield against the Islamic State group and U.S.-backed Kurdish forces northern Syria.

Ankara wants to clear groups it says are terrorists away from its border, while Syrian opposition forces are looking to secure territory before rival government forces arrive from the south.

Turkey is the oppositions chief backer in Syrias multisided civil war. It has deployed troops, tanks and artillery inside Syria as part of operation Euphrates Shield.

Turkeys Anadolu news agency began reporting Turkish troop fatalities in al-Bab on Dec. 21. That week, 16 Turkish soldiers were killed in clashes or ambushes by the Islamic State in the town.

Dozens of civilians have been killed in Turkish air raids on the town, as well.

The IS groups Aamaq news agency reported that Turkish, American, and Russian warplanes flew more than 80 sorties over the town on Friday and struck with 150 artillery rounds.

The three powers are coordinating their aerial campaigns against the Islamic State group and other al-Qaida-linked factions in northern Syria.

Pro-government forces, meanwhile, backed by Russian airpower, are engaged with IS militants in the village of Tadif, about 1.5 kilometers (1 mile) south of al-Bab.

The Russian Defense Ministry said in a statement Saturday that in the course of the battle in the area of Tadif, government forces destroyed 650 terrorists, two tanks and various vehicles fitted with arms and explosives. The figures could not be independently confirmed.

Meanwhile, Irans Supreme National Security Council authorized Russia to fly its fighters over Iranian airspace to support operations in Syria, the states semi-official Tasnim news agency reported.

Earlier on August, Iran confirmed that Russia bombers launched airstrikes from near the Iranian city of Hamedan, 280 kilometers (175 miles) southwest of the Iranian capital, Tehran to hit targets in in eastern Syria.

Iran is a stanch supporter of the Syrian government.

Associated Press writers James Heintz in Moscow and Amir Vahdat in Tehran, Iran contributed to this report.

Continued here:

Marginal progress for Turkish-backed forces in north Syria - PBS NewsHour

CAIRO

The Egyptian economy has been showing signs of a slow, but painful recovery since a $12 billion loan from the World Bank, late last year, followed by a number of economic reforms, including the free float of the national currency. Tourism appears to be picking up and foreign investors are starting to buy Egyptian treasury bills once again.

One of Cairo's major, five-star tourist hotels was bustling with visitors on a recent day, following months of slow performance.

Tourism accounts for nearly 12 percent of Egypt's GDP and has always been a key barometer of the country's economic health. Sporadic terror attacks, two airline crashes and the accidental bombing of a busload of tourists by army helicopters had put a damper on tourism for months.

Overall, Finance Minister Amr El-Garhy sounded optimistic during a recent press conference to discuss the country's economic indicators for 2016.

He stressed that the government's operating deficit in 2016 decreased slightly and looks to be headed lower for 2017.

Deficits, El-Garhy said, "put pressure on the state, adding to inflation and causing depreciation of the national currency.

By lowering deficits," he adds, "Egypt will have less debt, decreasing the need for borrowing.

El-Garhy said consumers may be feeling pinched by recent price increases, but would see an improvement in a year and an even greater improvement over the next three years.

A vegetable vendor sells produce at a market in Cairo, Egypt, Jan. 10, 2017.

Frustrated shoppers

A popular Egyptian TV program, however, reports less than favorable reaction in the street to rising prices and sporadic shortages of food staples. Shoppers at a suburban Cairo vegetable market expressed frustration.

An irate housewife says cooking oil and cooking gas have gone up in price, while a woman next to her says everything is becoming exponentially more expensive.

In southern Egypt, a disgruntled consumer set fire to a government supply depot last month, but most Egyptians have taken the situation in stride.

Egypt's President Abdel Fattah al-Sisi sits before a meeting at the presidential palace in Cairo Aug. 2, 2015.

Egypt making progress

Egyptian President Abdel Fattah el Sisi, who has faced grumbling over recent price increases, drew applause as he addressed a crowd of young people, recently, arguing Egypt is making slow progress.

The president said development requires a collective consciousness and understanding of the threats facing the nation, in order to set things straight. He maintains that Egypt is making progress, even if people aren't happy about everything.

Sisi added he is doing his best to help meet the aspirations of Egypt's 90 million citizens, especially its young people.

A young man, today," the president insists, will see major progress in the next 10 years.

A man counts Egyptian currency at an exchange office in Cairo, Nov. 3, 2016.

Investors show confidence

Foreign investors are expressing growing confidence in Egypt's economy, as analyst Khaled Abou Haif told Egyptian TV. He said traders have been seeing very strong demand for (Egyptian) treasury bills, indicating confidence in the economy by foreign investors and helping meet the country's foreign currency needs.

Egypt's key stock market indices have also risen, despite the simultaneous increase in the value of the dollar, after the government allowed the Egyptian pound to float freely.

Other variables, like Suez Canal revenues, have some economists worried, given the conflict in Yemen, which overlooks the strategic Bab el Mandab strait, the Gulf of Aden and Red Sea waterways. Lower oil prices may also have caused a decrease in the number of ships transiting the canal, according to some observers.

The rest is here:

Egyptian Economy Making Slow, Tentative Progress - VOA News - Voice of America

Jimmy Cheek, Guest column 3:00 a.m. ET Feb. 12, 2017

Jimmy Cheek is the outgoing chancellor of the University of Tennessee.(Photo: Courtesy of Jack Parker)

Its been a privilege to serve as the chancellor of the University of Tennessee, Knoxville, the states flagship university. Simply said, its great to be a Tennessee Vol.

UT has always been a special place, but its an even better place today because of the hard work and dedication of our students, faculty, staff, alumni, donors and community partners. They believed in the journey.

Shortly after I arrived, then-Gov.Phil Bredesen challenged us to become a top 25 public research university. Many have asked why this challenge was so important; the short answer is because it gave us a common measurable goal. In everything we do, we keep the focus on our students, and we measure ourselves against the very best.

Are we there yet? No, were not its an ambitious goal. But are we better? Absolutely. Our progress allows us to better serve the state of Tennessee and its citizens. One of Gov.Bill Haslams top priorities is education, and UT is an important part of his initiatives. As the flagship, we set the standard.

Our students, 85 percent of whomare Tennesseans, are among the best and brightest in the nation. We began challenging them to graduate in four years, and we set up processes to help them overcome any hurdles. Our graduation rate has grown by a remarkable 10 percent, and weve been recognized nationally for our efforts.

When students graduate in four years, we can increase the size of our freshman class and serve more Tennesseans. Our two most recent classes have been among the biggest ever.

Through all these changes, we have never strayed from our mission of providing access to education. About 30 percent of our students are eligible for Pell grants, and its important to provide additional resources for our students who otherwise couldnt afford to attend UT. Fifty percent of our students graduate with no debt, far better than the national average.

These bright students deserve to learn from the very best faculty. The quality of our facultys teaching and research is at the heart of everything we have accomplished in our journey to become a top-tier university. Many departments across the university are currently ranked among the top 25 in their disciplines.

Such great work cant happen in outdated buildings. When I first walked into a lab on the UT campus, it looked just like the labs Id used in college and thats been a long time ago. It was critical to address our infrastructure issues.

With the help of Haslam, Bredesen, our state legislatorsand our donors, we have invested more than $1 billion into the transformation of our campus. If you havent walked across campus lately, youre in for a pleasant surprise. It looks great. We have six new academic buildings, new residence halls for the first time in 40 years, a new student union and new athletics complexes. We have created a campus thats friendlier to pedestrians and the environment.

All of these investments have led to tremendous growth in research. Our partnership with Oak Ridge National Laboratory uniquely positions us in the world of scientific discovery and innovation. Scientists from UT and ORNL work together on big ideas that are changing our world.

The impact of our research, engagement and discovery on the lives of Tennesseans is tremendous and can be measured in many ways, including dollars and cents. The latest study by the Boyd Center for Economic Research estimates that the University of Tennessee, Knoxville, generates $1.6 billion in annual income for the state and creates 33,000 jobs.

But most importantly, education changes lives. I was the first person in my family to attend college, and I know what a difference it made for me. We have worked hard to make a difference in the lives of our students and their families. We are turning out a highly qualified workforce and better citizens for the state of Tennessee and beyond.

I want to thank the greater community for its support of the University of Tennessee, Knoxville, and I ask you to continue to believe and invest in this wonderful university.

Jimmy G. Cheek is the chancellor of the University of Tennessee.

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Jimmy Cheek: UT chancellor appreciative of hard work, progress on journey - Knoxville News Sentinel

The Indianapolis Colts used a lot of offensive linemen in 2016. Here's where they stand heading into the offseason. Scott Horner/Wochit

Indianapolis Colts center Ryan Kelly (78),right, and Indianapolis Colts Joe Haeg (73) drops back in protection during the first half of an NFL football game Sunday, Sept. 25, 2016, at Lucas Oil Stadium.(Photo: Matt Kryger/IndyStar)

INDIANAPOLIS It feels as if more ink and airtime have been devoted to the Indianapolis Colts offensive line than any other aspect of the team in recent years.

With each hit absorbed by quarterback Andrew Luck, the conversation inevitably turned to the lack of reliable protection up front. And with each failure of the running game, scrutiny of the run blocking only increased.

The 2016 season wasnt much different. But the attention came for slightly different reasons. After the Colts went all-in and drafted four offensive linemen last year, they began making gradual progress in this long-maligned unit. But those gains were incremental. The job is far fromcomplete.

And that means print and airtime will continue to be dedicated to this group. Lets take a took back at how last season went for the offensive line and consider whats next for this critical position group.

HOW IT WENT

It wasnt a masterpiece. And the offensive line was still the subject of much (warranted) criticism. But, overall, we saw more measurable progress in this unit than at any other time in the five seasons under coach Chuck Pagano.

Anthony Castonzo gave the Colts some reason for concern with too much up-and-down play from the all-important left tackle spot. But, to his credit, Castonzo's play stabilized late in the season. Left guard Jack Mewhort had an impressive season, and is clearly a fixture for years to come. Rookie Ryan Kelly seamlessly took over at center, solving a problem at a position that had long been an issue. The right side continued to be in some flux. Joe Haeg, Denzelle Good, Joe Reitz and LeRaven Clark all took turns in the starting lineup at right guard or right tackle, but thats still going to have to be sorted out this summer.

Pass protection was still inconsistent. Luck matched a career high with 41 sacks, but dont put that all on the line. The deep balls Luck prefers and his tendency to hold onto the football a bit too long certainly contributed. However, the run blocking was better than its been in a long time. That is clearly a strength of this unit and a reason Frank Gore became the first Colts back since 2007 to surpass 1,000 yards in a season.

Overall, things seem to be looking up for the first time in a long time for the Colts offensive line.

WHAT WE LEARNED

The biggest offensive line lesson of 2016 was this: Building a unit takes time and patience. If you thought the draft haul of linemen was going to equate to an instant fix, you got suckered.

The offensive line is a position that requires one of the longest periods ofdevelopment for young players. Things simply happen too fast and with too much complexity. Then theres the stark differences between college and pro offenses, something that impacts offensive linemen more than most other position players.

There was no better example than the development of Clark, who went from utterly embarrassing in the preseason to representing himself well when starting the final three games of the regular season.

The rookies were raw and that includes first-round pick Kelly but the experience they got last season will prove invaluable. They played through those rough patches and with that will come learning experiences they would not have gained on the bench.

Another lesson from 2016: Mewhort is a cut above everyone else in this unit. He established himself as the line'sbest player, making him someone the Colts should at least consider giving a contract extension this spring. Mewhorts contract expires after the coming season.

One final takeaway: Coaching matters. The addition of Joe Philbin as assistant head coach and offensive line coach was a strong move by Pagano, and it paid huge dividends.

WHATS NEXT The key is continued development. If Philbin continues to work his magic, the Colts will continue to benefit. The foremost challenge is to find a suitable starting lineup on the right side. The Colts, ideally, need to find a position where Haeg can settle in (he started at three different spots last season). Thats the only way theyre going to truly find out what kind of player he is. They also must decide whether Good and Clark are long-term starters.

Something else worth watching is the performance of Castonzo. Language in his contract has already triggered a guarantee on an $8 million bonus that is to be paid next month. So, Castonzo isnt going anywhere for now. But if he doesnt show more consistency in 2017, the Colts are going to have to start thinking about long-term options at left tackle. Thats the last thing anyone wants seeing how things are just starting to come together.

Follow IndyStar reporter Stephen Holder on Twitter: @HolderStephen.

One in an occasional series on Colts positionreviews.

Read more from the original source:

Colts position review: OL showed legit progress, but work remains - Indianapolis Star