Daily Archives: June 6, 2017

Gymboree is one step closer to bankruptcy – MarketWatch – MarketWatch

Posted: June 6, 2017 at 6:46 am

An earlier version of this article had an incorrect grace period for Gymboree to be in default in the second paragraph. It has been corrected.

Childrens clothing retailer Gymboree is expected to file for bankruptcy in the coming weeks or even days, after it elected not to make an interest payment on $171 million of bonds that was due on Thursday.

The troubled company, which has been in talks with investment banks and advisers on ways to repair its balance sheet since January, has a 30-day grace period before it is officially in default. But its expected to announce some kind of prearranged or prepackaged filing in the near term that will allow it to proceed in an orderly fashion, said Reshmi Basu, associate editor of restructuring at Debtwire.

Its a story that has been playing out for some time, she told MarketWatch. Now, well see the lenders take control, they will reset the footprint and work with advisers on which unprofitable locations should be closed down.

Like rivals, Gymboree has been suffering from the many factors currently clobbering the retail sector, from weak mall traffic trends to changing consumer behavior to the onslaught from Amazon.com Inc AMZN, +0.46% The rise of e-commerce is forcing many to invest heavily in their own online and delivery technology, at a time when sales are under pressure.

Gymboree is expected to keep its Janie & Jack line, which is still successful, but to ditch its Crazy 8 brand, which is flailing, said Basu. The company is in talks to retain Great American Group and Tiger Group, two companies that specialize in asset appraisals, liquidations and inventory auctions, she said.

In case you missed it: Stressed retailers like J. Crew and Neiman Marcus are doing something unusual to manage debt

Related: J.C. Penney, Gymboree and J. Crew at risk -- and its not all Amazons fault

They will probably liquidate unprofitable brands and leverage the Janie & Jack line and beef up their e-commerce, she said.

Gymboree is another retailer that is saddled with debt taken on in a leveraged buyout. The company was acquired by Mitt Romneys former firm Bain Capital in 2010 for $1.8 billion. Today, the company has $1.043 billion of debt, split between a $769 million term loan, the $171 million of 9125% senior secured notes due December of 2018, an $80 million ABL revolving credit facility and a $49 million first-lien ABL term loan.

It had $22 million cash and cash equivalents as of Jan. 28, plus $73 million of restricted cash, according to a regulatory filing. Its leverage is more than 12 times, which is hard to sustain, said Basu.

Dont miss: Retail carnage continues as sectors job growth falls for fourth straight month

The companys bonds were last trading at 8.729 cents on the dollar, according to MarketAxess, deep into distressed territory. Its term loan was quoted at 44 cents to 46 cents on the dollar, according to Debtwire.

See also: Neiman Marcus is now borrowing money to make interest payments on its debt

Gymboree is one of the companies on Fitch Ratings list of loans and bonds of concern, which features those issuers with a significant risk of defaulting on their borrowings within the next 12 months.

In March, the company posted a $324.9 million loss for its fiscal second quarter, which included a $368.1 million noncash goodwill and intangible asset impairment charge and an $11.6 million charge related to excess inventories. Same-store sales fell 5% in the period.

But same-store sales for the Janie and Jack brand alone rose 11%, while same-store sales at Crazy 8 fell 6%.

The SPDR S&P Retail exchange-traded fund XRT, -0.02% has fallen 6% in 2017 so far while the S&P 500 SPX, -0.12% has gained 9%.

See also: From a risk-of-bankruptcy standpoint, the retail business is the new oil and gas

Read the original post:

Gymboree is one step closer to bankruptcy - MarketWatch - MarketWatch

Posted in Bankruptcy | Comments Off on Gymboree is one step closer to bankruptcy – MarketWatch – MarketWatch

Gymboree Misses $171 Million Interest PaymentBankruptcy Next? – Retail TouchPoints

Posted: at 6:46 am

Childrens apparel retailer Gymboree is expected to file for bankruptcy in the coming weeks after missing a $171 million interest payment due June 1. As of June 2, Gymboree has a 30-day grace period to make a belated payment, according to an SEC filing.

The retailer has been in talks with investment banks and advisors on ways to repair its balance sheet since January 2017. With the missed payment, valued at a 9.125% rate through 2018, S&P Global Ratings lowered the companys debt rating to "D" for default. Roughly $872 million of the company's roughly $1.1 billion total debt is due within 12 months, with S&P noting that operating trends continue to deteriorate.

The combination of massive debt and weak financial results has made Gymboree a prime candidate for bankruptcy. In February 2017, Moodys Investors Service named Gymboree asone of 19 retailers with a very high credit risk. Recently bankrupt Rue21 made the list, as well as troubled brands such as Sears Holdings, Bon-Ton Stores, J.Crew and Claires Stores.

If it is unable to make the payment, Gymboree would join a long list of other retailers that have filed for bankruptcy in 2017, includingPayless ShoeSource, Rue21,BCBG Max Azria, hhgregg,The Limited,RadioShack,Wet Seal,Eastern Outfitters,Gordmans,Gander MountainandMC Sports.

Gymboree operates approximately 1,300 stores under three brands: Gymboree, Janie & Jack and Crazy 8. The retailer has posted losses for the last several years amid increased competition from online retailers and discount/off-price brands. In Q2, the company posted a 5% decline in same-store sales. Net sales declined 6.4% to $356.8 million, while the brand took a$368.1 million goodwill and intangible asset impairment charge and an $11.6 million charge related to excess inventories.

In May, Gymboree appointed a new CEO, Daniel Griesemer, who had run teen apparel retailer Tillys for approximately five years until 2015. Griesemer will have the difficult position of restructuring the retailer out of its debt, which may or may not include a decision to file for bankruptcy protection.

Read more:

Gymboree Misses $171 Million Interest PaymentBankruptcy Next? - Retail TouchPoints

Posted in Bankruptcy | Comments Off on Gymboree Misses $171 Million Interest PaymentBankruptcy Next? – Retail TouchPoints

Report: Asbestos suits against Kaiser Gypsum dropped after bankruptcy, putting pressure on solvent companies – Madison County Record

Posted: at 6:46 am

A consulting firm that analyzes asbestos litigation across the U.S. has found that as soon as Kaiser Gypsum (KG) sought bankruptcy protection in September 2016, the number of lawsuits filed against this "major" defendant dropped signficantly.

The problem, according to Washington-based KCIC founder Jonathan Terrell, is that as evidence of exposure to KG products - drywall, joint compounds and cements - disappears from the tort system pressure mounts on solvent defendants to pay larger sums in court case settlement.

In Madison County, the nation's busiest asbestos court, the rate of filings naming KG dropped to 7 percent in the fourth quarter of 2016, after sustaining a rate between 40 and 46 percent in 2015 through the second quarter of 2016, the report states.

In the third quarter of 2016 in Madison County, it shows the rate dropped to 29 percent.

KCIC estimates that it reviews 90 percent of all asbestos lawsuits filed in the U.S.

Its analysis shows that other top jurisdictions in which KG is named as a major defendant produced similarly significant reductions in the rate of filings after the company filed for bankruptcy.

In Baltimore City, Md., where the rate of filing against KG had been the highest, for instance, the number of suits filed in the fourth quarter of 2016 fell to zero. In 2015 through the third quarter of 2015 the rate of filing there ranged between 46 and 79 percent.

Terrell wrote earlier this year that an ad hoc committee of plaintiff firms was formed prior to KG's bankruptcy filing to "engage in discussions with the Debtors regarding the terms of a consensual plan of reorganization," also known as a "pre-packed" bankruptcy.

"The notion that plaintiff firms, largely responsible for KGs bankruptcy, should have a seat at the table is a little jarring, but such is the nature of the bankruptcy process," he wrote.

He went on to assert that keeping bankrupt companies in evidence in the tort system is not in the financial interest of plaintiffs.

"Firstly, as was well established in the Garlock case, plaintiffs have a potential for double recovery by obtaining full relief from solvent defendants in the tort system and then later making claims to the various post-bankruptcy trusts," he wrote.

"More significantly, if evidence is kept in the tort system, they face the considerable downside of a bankrupt company being awarded a share on the verdict sheet, thereby exposing the plaintiff and his counsel to the financial consequences of a missing share."

KCIC also reviewed the percentage of suits against KG filed by attorneys on the plaintiffs' ad hoc committee which shows a decline in filings at the end of 2015 and then "plummeting" as the bankruptcy was made public, its report states.

"And while KG is protected by Chapter 11 from actual litigation, there is nothing preventing plaintiffs counsel from continuing to name them on complaints," the report states. "If KG was named so frequently in the past, why the sudden change? Suspicious minds could be forgiven for thinking of the self-interest of the plaintiffs bar."

He wrote that it is unsurprising that exposure evidence of bankrupt companies "rapidly disappears" from the tort system given the financial incentives to keep it out.

See the rest here:

Report: Asbestos suits against Kaiser Gypsum dropped after bankruptcy, putting pressure on solvent companies - Madison County Record

Posted in Bankruptcy | Comments Off on Report: Asbestos suits against Kaiser Gypsum dropped after bankruptcy, putting pressure on solvent companies – Madison County Record

A Half-Century of Oppression – Consortium News

Posted: at 6:45 am

Israels right-wing governments bear the greatest guilt for the last half-century of oppressing the Palestinians but the divided and ineffectual opposition has played its part, too, says Alon Ben-Meir.

By Alon Ben-Meir

On June 5, Israel reaches the grim milestone of 50 years of occupation of the West Bank. Many Israelis have become complacent and succumbed to the governments argument that the continuing occupation is necessary to safeguard Israels national security.

Others are lamenting the day, as they view the occupation not only as a gross violation of Palestinian human rights, but a real menace to Israels democratic nature and Jewish national character.

Whereas right-wing Israeli governments have maintained the occupation by any means available, including the use of force, the Israeli opposition parties from the left and center have failed miserably over many years to advance a unified political platform to end the occupation and resolve the conflict based on a two-state solution.

With every passing day, it is becoming increasingly difficult to establish a Palestinian state with a contiguous land mass, which is a result of legalizing illegal settlements and building new and expanding existing ones. This settlement activity has changed the demographic composition of Israeli Jews and Palestinians inside the West Bank.

Should this trend continue for another ten years, it is estimated that the number of Jews living in the West Bank and East Jerusalem will grow from the current 650,000 to one million, creating irreversible facts on the ground that will render the two-state solution inviolable.

Successive right-wing Israeli governments, especially the current one led by Benjamin Netanyahu, have never committed to a two-state solution. Instead, they have determined to manage the occupation by the use of force and intimidation while forcing the Palestinians to live in self-governing cantons and allowing them to manage their own internal affairs as long as they do not pose a security threat.

This dangerous development was largely made possible by two factors: first is the Israeli political system, which encourages the proliferation of parties with various political orientations. On average, there are 12-15 political parties that garner the minimum threshold of 3.25 percent of the votes to be elected. As a result, every Israeli government since the inception of the state is a coalition government consisting of several parties, which together enjoy the backing of a majority in the Knesset. The second is the fact that past and current opposition parties from the center and left have been unwilling to form a coalition government with a united platform to end the occupation.

One of the main reasons behind this discord between the parties is not as much their ideological difference but the blind personal ambition of party leaders including Yair Lapid of Yesh Atid, Isaac Herzog of the Zionist Union (along with Tzipi Livni), and others to become prime minister, as they view themselves as the most qualified to lead the country.

Thus, the political field was left open for Netanyahu and his cohorts to expand the settlements, forcefully claiming that the Jews have a historic and biblical right to the entire Land of Israel that God bequeathed to them, and that Israel has every right to build anywhere in Judea and Samaria. Although Netanyahu continues to assert that he supports a two-state solution, he never provided a convincing argument as to how he would square the creation of a Palestinian state with Israels claims to the same land and its continued building of settlements where the Palestinians are supposed to establish their own state.

To explain the rationale behind this contradiction, however, he argues that Israels concerns over security and the Palestinians long-term objective to destroy the state compels Israel to maintain its control over the entire territory by whatever intrusive security measures necessary. Moreover, several members of the Netanyahu government openly call for the annexation of much of the West Bank, as from their perspective there must never be a Palestinian state.

Pariah State

The dire consequences of continuing the occupation are extremely damaging to Israels character and national security. Other than the intense and growing opposition of the international community, Israels loss of its moral compass and continued resistance to the creation of a Palestinian state will be to its detriment. Israel is increasingly becoming a pariah state, deprived of peace with the Arab world and gradually losing its very reason to exist as a Jewish state that ironically Netanyahu and the extreme right insist on characterizing it as such.

Finally, the continuing occupation will inevitably intensify the conflict, which will become ever more ferocious as the Palestinians prospect of establishing a state of their own fades away.

Israels future as a democratic and Jewish state rests on the shoulders of the opposition parties. They must think of what will happen if the current or future right-of-center governments continue with the present policy and maintain the occupation for another 10 years or more.

They must remember that the fate of the country is in their hands. They must set their personal ambitions aside and put the future security and wellbeing of the state first. They must produce a unified political program to end the occupation and explain to the public the disastrous consequences Israel will face unless the occupation comes to an end.

As a single party with unity of purpose, they can successfully challenge the Netanyahu government in the next election. They should learn from 70 years of experience that no political party has been able to garner a majority of the electorate to form a government on its own, but together they can mobilize the public behind the noble cause of unshackling Israel from the self-degrading occupation.

If they fail, they too will be blamed for having betrayed the nation and sacrificed a millennium-old dream of a Jewish state a state recognized not only because of its unprecedented achievements, but for its high moral standing and the realization that its future as an independent, free, and secure state depends on allowing the Palestinians to enjoy the same rights.

Dr. Alon Ben-Meir is a professor of international relations at the Center for Global Affairs at NYU. He teaches courses on international negotiation and Middle Eastern studies. alon@alonben-meir.com Web: http://www.alonben-meir.com

Read this article:

A Half-Century of Oppression - Consortium News

Posted in Government Oppression | Comments Off on A Half-Century of Oppression – Consortium News

War on Drugs, The Unheard Voices | ABS-CBN News

Posted: at 6:44 am

'They didn't give my husband chance to air his side'

COMING home from work one day in July 2016 in Southville Niugan in Cabuyao City, Laguna, she was met by her son who anxiously told her: Mama, si Papa sumakay ng kotse.

It would not have worried her except that several hours had passed and her husband Ricardo had not come home. In an earlier text to his brother, Ricardo said he left for a while to accompany someone for an errand.

She looked around for her husband all night until dawn. With her brother-in-law, she went to police stations and funeral homes but no one had seen her 42-year-old husband.

She returned home to attend to their five children.

Later in the afternoon, her brother-in-law received a text from a funeral service in Cabuyao: A man was found dead in a nearby barangay and the body had been brought to another funeral home in Calamba.

It was Ricardo, the most tragic news she ever heard in her life. Her husband is dead. He was slain.

Until now, Gina does not know what really happened to Ricardo. Who killed him--and why?

Some people said they saw an unmarked grey sedan pick up Ricardo from their house. There were two men in the car. One of them was a known police asset nicknamed Elvis.

Another witness told her Ricardo was seen running along the docks before he was shot dead by policemen no less.

Later in the afternoon, her brother-in-law received a text from a funeral service in Cabuyao: A man was found dead in a nearby barangay and the body had been brought to another funeral home in Calamba.

The funeral issued a death certificate showing Ricardo suffered gunshot wounds on his trunk. But he also had wounds in his right thigh, upper abdomen, chest, and nape, his brother said.

A police report later showed the police tried to arrest Ricardo in a buy-bust operation, but he resisted arrest, forcing the police to shoot him. He died at once.

According to a barangay official, Ricardo had been involved in drugs. He had no permanent job.

His wife denied the allegations, saying he had tried his best to earn by taking jobs as a porter, laborer and construction worker. Too bad, Ricardo was no longer around to say his piece, she said. - Juni Gonzales, Rachel Cantuba, John de Lima

HE WAS last seen alive with a team of policemen one afternoon in July in front of his house in Lupang Arenda in Sta. Ana, Taytay, Rizal; his hands behind his back, apparently tied or in handcuffs. He died several hours later inside the house.

His family and neighbors said Rio Awa, or Dodong as he was fondly called, was involved in illegal drug activities and that he owned a gun to protect himself.

But must his life end this way? His sister Marianne asked, recalling how his 28-year-old brother lived and he died.

Marianne said Dodong, a father of a four-year-old boy, was a construction worker but he had to stop due to an operation. In deep predicament to make both ends meet, he sold prohibited drugs.

The day he died, he was at home, but in police custody, the sister said. Police accosted him and brought him back to his house.

Curious, the neighbors gathered around near his house. More men came, some in police uniform and some in civilian clothes. The law enforcers told all the neighbors to stay in their houses and away from harms way.

A few minutes later, the neighbors heard gunshots.

A police official reported later that Dodong was a suspected drug pusher. There was a drug buy-bust operation, and Dodong attempted to shoot the poseur buyer but he missed, the official said.

That was when the law enforcers fired back, killing him instantly.

"Paano yun nanlaban eh kitang kita namin dito nakaposas? a neighbor asked.

Dodongs wife is pregnant with their second child. Ana Maria Reyes, Jhoanna Ballaran

CHARLENE waited for her mother and stepfather Edgar who were coming to her place on Geronimo Street in Sampaloc, Manila for a visit one afternoon in July. He had promised her to set-up an internet shop she would name Piso Net to earn extra income for the family.

He showed up and while in Sampaloc, Edgar tried to fix his motorbike when two policemen approached him and asked why he was half naked. The two proceeded to search him but did not find any illegal drugs or weapons.

Not content, they brought Edgar to the Lacson Police Community Precinct.

Charlene and her mother followed Edgar to the precinct to speak with the arresting officers. She was surprised when she found out they wanted to slap him with possession of illegal drugs and a grenade.

The police told mother and daughter to go home and come back with food and clothes for him.

It was to be the last time they would see Edgar alive.

Said Charlene: Nandun siya sa ano sa upuan, nakita ko, nakaganyan, may posas siya.

They went back to the precinct and spoke with the police as to how much it would take for Edgar to get his freedom backthe amount ranged first from P120,000 and later, with the help of the barangay chairman, to P10,000. They did not allow them to see him.

Wala namang damit, wala namang may nakuha. Sabi kasi ang kaso niya daw kuno shabu atsaka granada. Ang ano daw doon P120,000 ang dapat piyansa doon, she said.

Sabi ko wala naman po kaming ganoong pera tapos isa pa, wala naman pong nakuha dyan na ganyan, shabu atsaka granada. Huling nakahubad lang naman, she added.

But the police refused to accept P10,000 only. And so, they went back home to look for more money and other things that they could sell to the pawnshop.

When they came back, they found a patrol car parked in front of the Ospital ng Tondo, just across the barangay hall. They turned red and fidgety.

Edgar was dead, they were told.

According to a police report, his stepfather was released from his handcuffs when he was granted permission to go to the bathroom. He reportedly grabbed the service gun of his police escort, causing a commotion, which prompted another police to shoot him. The report said the police found two sachets of shabu from him.

The barangay chairman said that Edgar was not among the drug users and pushers who surrendered during the implementation of the Opla Tokhang because he was not a resident of the barangay.

Charlene said his stepfather was a full-time barangay tanod in Sucat and that he was not involved in illegal drug activities. Juni Gonzales

ON THE NIGHT of June 14, Ronilo talked to his partner, Jenny about his plan on coming clean to the police with his involvement to illegal drugs.

Before leaving the house, Jenny checked Ronilos pockets because she was asking him for money to buy some food for their children. She got nothing.

The following day, Jenny heard the news that Ronilo was killed in a vacant lot just few blocks from their house in Barangay Biclatan, General Trias in Cavite. He suffered not less than 10 gunshots including one in the head, she was told.

A neighbor said Ronilo was last seen talking to some people in the same vacant lot where he was killed.

A police report said the General Trias City Anti-Illegal Drugs Special Operations Task Group had conducted a drug buy-bust operation targeting Ronilo. He was listed as top drug personality in General Trias City and was also previously arrested for drugs.

The police report said that Ronilo exchanged fire with the operatives and was thus fired upon. He was brought to a nearby hospital but was declared dead on arrival.

Jenny said that Ronilo was indeed arrested in 2015. He was released on bail after three months. Free as a bird, he continued his illegal activities, she said.

Noong nakita namin na may barka-barkada at ginagabi siya lagi, sabi ko baka nagddrugs ka na naman, iwasan mo. Maawa ka na lang sa amin ng anak mo kung ayaw mong magbago, she recalled telling him.

In December 2015, Jenny said she kicked him out of the house because she was worried about their safety since Ronilo wouldnt stop his illegal activities.

He had been invited to surrender at the barangay but he refused because he believed that the people in the barangay were also involved to illegal drugs.

Ronilo left behind six children aged 18, 17, 15, 11, 10, and five. Ana Maria Reyes

THEY suddenly barged into the house of Napoleon Miras Ay-Ay, shouting and ordering everyone to lie face down in Barangay Antipona in Bocaue, Bulacan.

Operatives of the Bocaue police and PDEA were looking for 27-year-old Napoleon, or Nono, a suspected seller of prohibited drugs. His house was one of the many shanties in the cavernous compound in the barangay.

Out of fear, Nonos 52-year-old mother Edeltruda, who was standing by the entrance, stepped out and into a neighbors house.

Nonos father Eustaquio, 60, told his son to surrender to the police. Nono instead ducked himself at a corner of the house by the river.

Nagtatago na siya diyan e, Eustaquio said. Sabi ko tara na kako anak, sumama ka na kako sa kanila. Edi nandito ako, inakay ko siya dito."

Eustaquio begged the police not to hurt Nono because he was only driving for the actual pusher, Eunice Zapra Ripia who had been arrested by the police.

Service lang siya talaga e, he said. Service lang siya sa tricycle. Inuupa siya noong babae na P300 kada biyahe.

The police saw Nono and brought him upstairs. Within a couple of minutes, they heard gunshots. When the police went down, they broke the news: Nono was dead.

"Sabi ko, Sir kako, ano na po nangyari sa kay Nono ko? Eustaquio asked. Nandoon eka, nanlaban e, patay na.

But the parents said that Nono didnt resist arrest.

Paano lalaban ang anak ko e dito pa lang e putlang putla na yung anak ko, Eustaquio said.

According to a report, police recovered one .38-caliber revolver and sachets containing shabu from the house.

Edeltruda said her son didnt have a gun. Wala po 'yon! Pinalabas lang may .38. Pagkain nga lang namin tingnan mo naman ang itsura, ito ba makakabili ng .38 ang anak ko? she said.

Edeltruda said it would have been better if Nono were just imprisoned.

Bakit kasi pinatay nila? Sana kinulong na lang,, madadalaw ko yung anak ko," she said.

Nonos death left the family devastated. Rizza Cervantes

DERNLY BATALAN, a 27-year-old part-time construction worker, had to call his engineer he couldnt report for work one morning in July. He was at home in Barangay Western Bicutan in Taguig City. He was not feeling well.

By the time he was ready for lunch, some Taguig police and barangay officers arrived to conduct Oplan Tokhang, catching Batalan and his family by surprise.

"Dapa, dapa, dapa! Pulis to!" Dernlys sister recalled hearing the operatives shouting. In no time, they were kicking Dernlys door.

It was clear: They were after him. Dernly had a previous brush with the law. Last year, he was released from a three-year detention for possession of marijuana.

The police ordered everybody in the neighborhood to close their doors and windows to keep them out of harms way. The suspect might fire at the operatives, the neighbors were told.

Standing next door watching, Dernlys sister said she heard her brother shouting for help: "Uncle, Uncle, tulungan nyo ako!"

But the police didnt listen to him, she said.

Di ba po pag sinabing tulong di naman nanlalaban yun e? Tsaka parang umiiyak si kuya noon. Alam nyo naman po yung boses ng umiiyak habang humihingi ng tulong, she said.

After three gunshots, she said she overheard the police talking about checking Dernlys eyes, probably to check if her brother was dead. He was. His body suffered two gunshot wounds: two in his trunk and another in the head.

[Tapos] parang may tinawagan silayun palapatay na pala.

A police report later said the operatives had recovered .45-caliber Colt MK IV, an empty magazine of caliber .45, empty shells of .45 and 9mm caliber, an improvised shotgun or sumpak loaded with 12 gauge live ammunition, and four sachets of suspected shabu.

Dernlys sister said the alleged pieces of evidence found were questionable. But she said her brother did make a sumpak.

Eto po ang mali dun: kaliwete po yung kuya ko, kanan po nila nilagay yung baril, she said.

After the killing, she said authorities simply walked away without a word, except to say he was on the police watch list of men allegedly involved in drugs.

But they were not shown of any document, she said. Not even a warrant.

Sa programang Oplan Tokhang ni Mayor Lani at ni Kapitan Supan Pinapasuko ang mga adik dito sa Taguig. Yun siguro hindi pinansin ni kuya. Pero hindi po doon mini-mention yung pangalan ni kuya. Hindi po!

Di po tama yung ginawa ng mga [pulis], she said. San po kayo nakakita ng nanlalaban pero humihingi ng tulong? she asked. Yssa Espaola

DERNLY BATALAN, a 27-year-old part-time construction worker, had to call his engineer he couldnt report for work one morning in July. He was at home in Barangay Western Bicutan in Taguig City. He was not feeling well.

By the time he was ready for lunch, some Taguig police and barangay officers arrived to conduct Oplan Tokhang, catching Batalan and his family by surprise.

"Dapa, dapa, dapa! Pulis to!" Dernlys sister recalled hearing the operatives shouting. In no time, they were kicking Dernlys door.

It was clear: They were after him. Dernly had a previous brush with the law. Last year, he was released from a three-year detention for possession of marijuana.

The police ordered everybody in the neighborhood to close their doors and windows to keep them out of harms way. The suspect might fire at the operatives, the neighbors were told.

Standing next door watching, Dernlys sister said she heard her brother shouting for help: "Uncle, Uncle, tulungan nyo ako!"

But the police didnt listen to him, she said.

Di ba po pag sinabing tulong di naman nanlalaban yun e? Tsaka parang umiiyak si kuya noon. Alam nyo naman po yung boses ng umiiyak habang humihingi ng tulong, she said.

After three gunshots, she said she overheard the police talking about checking Dernlys eyes, probably to check if her brother was dead. He was. His body suffered two gunshot wounds: two in his trunk and another in the head.

[Tapos] parang may tinawagan silayun palapatay na pala.

A police report later said the operatives had recovered .45-caliber Colt MK IV, an empty magazine of caliber .45, empty shells of .45 and 9mm caliber, an improvised shotgun or sumpak loaded with 12 gauge live ammunition, and four sachets of suspected shabu.

Dernlys sister said the alleged pieces of evidence found were questionable. But she said her brother did make a sumpak.

Eto po ang mali dun: kaliwete po yung kuya ko, kanan po nila nilagay yung baril, she said.

After the killing, she said authorities simply walked away without a word, except to say he was on the police watch list of men allegedly involved in drugs.

See the original post here:

War on Drugs, The Unheard Voices | ABS-CBN News

Posted in War On Drugs | Comments Off on War on Drugs, The Unheard Voices | ABS-CBN News

State vows to launch war on drugs – Calcutta Telegraph

Posted: at 6:44 am

The Telegraph report published on June 3

Alarmed by the jump in seizures of narcotics in Bihar post prohibition, the state government and central agencies are gearing up to combat the drugs menace on war footing.

Chief secretary Anjani Kumar Singh convened a high-level meeting on Saturday over the crisis, in which senior officers of the administration, the police and central agencies such as the Directorate of Revenue Intelligence (DRI) and Narcotics Control Bureau (NCB) participated.

"Based on recent seizures, six places have been identified from where drugs are distributed to other parts of the state," one of the senior officials present at the meeting said under cover of anonymity because he is not authorised to talk to the media. "All the agencies concerned have been asked to work in close coordination to break the backbone of the drug dealers at the point of supply."

The six places are Masarh in Bhojpur district, Gaya, Purnea, the Raghopur Diara region in Vaishali district, and Gopalganj and Raxaul in East Champaran.

The Telegraph had reported in its June 3 edition how seizures of narcotics such as ganja, charas and opium have gone through the roof after prohibition was imposed on the state.

"It's nothing to be surprised about," chief minister Nitish Kumar said on Monday, when asked about increased consumption of narcotics in dry Bihar.

Nitish said he had been continuously expressing his concern about it at public meetings since April 2016, and pointed out that de-addiction centres had been set up in all districts.

He underlined the need to spread awareness among people about the ill-effects of substance abuse, and also indicated an administrative crackdown on drugs.

"Those indulging in drug trafficking would be strongly dealt with. The chief secretary chaired a meeting with all enforcement agencies working in the state, including central government's DRI, Sashastra Seema Bal (SSB) and others. State and central government agencies will work in close coordination to tackle the issue," Nitish said.

The NCB, the DRI, the state police and the state excise department will jointly crack the whip on the narcotics suppliers. All agencies that seize drugs are supposed to inform the NCB.

Jitendra Singh Gangwar, the inspector-general of police, economic offences unit, will be the nodal officer to whom the state police and the excise officials would provide details of seizures before they are passed on to the NCB.

"Seizure-related data is of prime importance for coordinating the efforts of the agencies working against drug dealers," explained a senior NCB official. "These data can help identify people engaged in this illegal business and help decipher their modus operandi."

Saturday's meeting decided on strict action against those running drug rackets in Bihar.

"All the participants unanimously agreed that nabbing the peddlers will not help much unless strict action, including legal action, is taken against the actual recipients of the drug consignments coming to Bihar," said the official who was present at the meeting. "Some of them have already been identified. The ultimate aim will be to hand over the cases to the Enforcement Directorate so that the ill-gotten assets of the drug mafia are seized."

The government has told excise and police officers to intensify checking of vehicles with out-of-state registration numbers.

"Most vehicles from which drugs have been seized bear registration numbers of other states," said the official.

The police and the excise officers have also been instructed to keep tabs on drug peddlers while carrying out operations to nab bootleggers.

Link:

State vows to launch war on drugs - Calcutta Telegraph

Posted in War On Drugs | Comments Off on State vows to launch war on drugs – Calcutta Telegraph

Hoffman can bet on it: Galveston casino gambling boat ventures into uncharted waters – CultureMap Houston

Posted: at 6:44 am

It hasnt exactly been smooth sailing for the Jacks or Better gambling boat in Galveston.

The boats maiden voyage was April 6. Between rough seas that canceled more than a dozen departures, damage from hitting a buoy that put the boat in dry dock several days, and seasick guests backing up toilets and sinks with vomit the boat is looking for calmer waters this summer.

Jacks or Better has sailings scheduled every day, and twice on Fridays and Saturdays. The cruises generally take between six and seven hours. Tickets are $15, including two free drink tickets.

Its about a one-hour drive from Houston to Galveston. You want to arrive a half-hour early, a built-in safety against those inexplicable traffic jams on I-45. (Its 2 pm on Tuesday, why is traffic backed up?) Once the boat leaves port, it takes about 1-1/2 hours to reach federal waters, 9.1 miles offshore, where its legal for the captain to say, Let the games begin. The boat has 180 slot machines and tables for shootout poker, blackjack, craps, chuck-a-luck, and other games.

Its supposed to have sports wagering, where you can bet on any college or pro event anywhere in the world, from French Open tennis to World Cup soccer to Aussie cricket to American baseball and football games. Supposedly.

Ready to set sail? A friend and I recently boarded the Jacks or Better boat for a Saturday afternoon cruise. Well have to call my friend Oscar. I cant use his real name because he lied to his boss to get off work that day. This is the kind of friends I have.

Before sailing, I took to Yelp and read horror story reviews about passengers getting seasick on the boat, complete with nasty photos of clogged toilets. There were some positive, fun-filledreviews, too. It all dependedon how rough the seaswere that day.

Not taking chances, Oscar and I popped a couple of Dramamine motion sickness pills the All Day Less Drowsy formula an hour before departure.

The boat is 150 feet long and can hold 360 passengers and 54 crew members. Im guessing that most of the passengers didnt know about the 3- to 4-foot seas predicted that day.

Passengers began climbing aboard and some immediately cashed in their two free drink tickets. Theyll pay for that later.

The Jacks or Better boat has three decks. The first deck is covered with slot machines. The second deck has gaming tables and a snack bar offering burgers, nachos, chicken sandwiches, Buffalo wings, and Galveston cheesesteaks. The most expensive item on the menu is $8. The upstairs, open-air observation deck has lounge chairs and live entertainment. On my cruise, there was karaoke.

AsGeorge Costanza said on Seinfeld, The sea was angry that day, my friends, like an old man trying to send back soup in a deli.

Wobbly and woozy

Thirty minutes into the trip, the boat got wobbly and passengers got woozy. Warning: Heres where this column gets pretty graphic. If youre reading this while eating, stop doing one of them.

Ive seen fewer sick people in the Ben Taub Hospital emergency room. Crew members began roaming the boat with trays piled high with sickness bags and crackers. Like waiters serving hors doeuvres at a wedding party. Passengers were stumbling aimlessly, bumping into furniture and slamming into walls, like babies taking their first steps, or town drunk Otis Campbellon The Andy Griffith Show.

People were puking in public, there was no time for shame. A guy at the snack bar was calmly eating spicy Buffalo wings while a man sitting next to him was retching into a vomit bag.

Never saw that before.

I counted only 22 people actually gambling. Most were upstairs with their faces in a paper bag, or passed out on the floor, or sleeping with their heads pressed against a slot machine. That cant possibly feel good.

Jacks or Better has a policy: If you get seasick during the cruise, upon returning to shore, the company will give you a free pass for another trip, plus a $20 chip to use at a gaming table. If youre thinking of going on the gambling boat, you might want to click at jacksorbettercasino.comfirst to check on sailing conditions. The Gulf of Mexico typically is much calmer during June, July, and August. In two weeks, the water will be like glass, I was told.

I asked a crew member, "Where do I place a sports bet?" I was told to See that guy over there. My whole reason for taking this voyage from hell (tip of the Hatlo Hat to Richard Lewis) was to place a parlay bet: Rafael Nadal to win the French Open and the Astros to win that nights game. Betting on the Astros this season is like stealing money.

The sports manager told me, Sorry, our sports machines havent arrived yet. Theyll be here in a few weeks.

You mean I got on this seasick infirmary for nothing?

Much, much worse

And thats when things turned for the much, much worse.

Oscar and I grabbed a table at the snack bar to wait out the cruise. Five minutes later, and I swear this happened, a man staggered toward us. His face was green. He was ready to blow like Mount St. Helens. But instead of finishing his journey to the restroom, he collapsed into a chair at MY TABLE (good name for a magazine) and let fly.

Thats when I lost it my temper, not my lunch. Remember I took a couple of Dramamine. I bolted up and screamed at him, Thats disgusting. Whats wrong with you? Why didnt you go to the bathroom and do that?

The guy could barely lift his head. I couldnt help it.

A crew member, carrying a bucket and mop, apologized for this incident. Im sorry you had to see that.

I asked him, This is some job you have. What do you use to get puke out of carpet?

Heres your household hint of the day (Hello, Heloise.) The Jacks or Better crew uses D-VOUR Absorbent Powder, which devours liquids such as spilled bodily fluids as it eliminated odors. They must buy it by the case at Costco.

So many passengers were sick, and so few gambling, that the captain decided to cut the cruise short by an hour and head back to land.

I didnt see anybody asking for their free ticket and $20 chip to come back.

---------------------

Ken can be reached at ken@culturemap.com or on Twitter:@KenCultureMap. To have all CultureMap stories, including Ken's columns, delivered to your inbox in one Daily Digest every morning, sign uphere.

Here is the original post:

Hoffman can bet on it: Galveston casino gambling boat ventures into uncharted waters - CultureMap Houston

Posted in Gambling | Comments Off on Hoffman can bet on it: Galveston casino gambling boat ventures into uncharted waters – CultureMap Houston

Editorial: Legislature should rewrite gambling rules – Tampabay.com

Posted: at 6:44 am

Medical marijuana isn't the only major issue missing from the agenda for this week's special session of the Florida Legislature. Gambling also is nowhere to be found. The Florida Supreme Court's unanimous opinion last month that individual counties may not unilaterally decide to open their doors to slot machines was the correct decision, rightly recognizing that any expansion of gambling in Florida is a statewide issue that should be addressed in state law or the state Constitution. But lawmakers again failed to reach a deal during the regular session, and now they have the clear responsibility to resolve the lingering issues.

The court brought clarity to where authority rests regarding gambling. In 2003, voters amended the Florida Constitution to allow slot machines in Miami-Dade and Broward counties. Subsequent changes in state law allowed the Hialeah horse track to be eligible for a slots license. By relying on creative interpretations of the state's gaming laws, other counties saw an opening to bring slots to their beleaguered dog and horse tracks and jai alai frontons, and voters in eight counties (none in Tampa Bay) approved slot machine gaming. Had the Supreme Court sided with those counties and the owner of Gretna Racing in Gadsden County, which brought the challenge, Florida could have seen an explosion of slot machines.

Instead the justices rightly recognized that the Legislature never intended to leave gambling policy up to individual counties. But state lawmakers have been unable to agree on a broader vision for the future of gambling in Florida. Negotiations broke down in the final days of the regular session over a new gaming bill and a new agreement with the Seminole Tribe of Florida to operate some casino games exclusively in exchange for annual revenues of as much as $300 million for the state. In general, the House wants less gambling or at least a slower expansion while the Senate favors more.

Following the court's ruling, the Legislature can't keep stalling forever. The governor and the Legislature should reach a new deal with the Seminoles and bring some additional clarity to gambling for the beleaguered parimutuel industry. But there has to be a balance. For example, lawmakers could repeal outdated requirements that force dog tracks such as Derby Lane in St. Petersburg to keep running live races in order to keep their poker rooms open. They should not, however, open the door for the widespread expansion of slot machines, and they should keep the Seminoles' additional gambling opportunities as limited as possible in return for another long-term agreement that would bring more revenue to the state.

The Florida Supreme Court has handed lawmakers a newly cleaned slate by answering the question correctly of whether a few counties can decide on their own to allow expanded slot machine gaming. With that resolved, lawmakers should buckle down and craft reasonable, modern legislation that makes sense without opening the door to creating another Las Vegas.

Editorial: Legislature should rewrite gambling rules 06/05/17 [Last modified: Monday, June 5, 2017 7:45pm] Photo reprints | Article reprints

View original post here:

Editorial: Legislature should rewrite gambling rules - Tampabay.com

Posted in Gambling | Comments Off on Editorial: Legislature should rewrite gambling rules – Tampabay.com

Sands Bethlehem casino waging ad war against tavern gambling – Allentown Morning Call

Posted: at 6:43 am

BETHLEHEM Just two weeks after the $1.3 billion sale of Sands Casino Resort Bethlehem collapsed under the threat that Pennsylvania may allow casino gambling in bars, Sands is launching a million-dollar campaign to stop the legislation behind it.

Sands this week is beginning a statewide ad war against proposed House legislation that would allow video gaming terminals in bars and truck stops. You'll soon be seeing doom-and-gloom commercials detailing how VGTs in every neighborhood will gut a statewide casino model that is yielding $1.4 billion in tax money a year.

To fund it, Sands is pumping more than $1 million into a newly formed lobbying organization called Pennsylvanians For Responsible Government. Sands officials say they expect other casinos to join in their fight, but none were announced Monday. The campaign includes radio ads, an internet landing page with the headline "Greetings from Pennsylvania, Land of 12,000 Casinos," and a 30-second television spot that suggests some lawmakers want to put the terminals in delis and nursing homes.

It sets up a heavyweight fight between casinos looking to keep their slot machine monopoly and the Pennsylvania Tavern Association, which wants its cut of the gambling pie.

"This proposal would destroy the brick-and-mortar casino industry and risk the nearly $1.4 billion in tax revenues that these establishments generate annually," lobbying group spokesman Michael Barley said. "Worse yet, because VGTs are designed to operate without employees, the 18,000 people casinos collectively employ in Pennsylvania will be put in serious jeopardy."

Proponents say the bill will prop up mom-and-pop taverns, while pumping hundreds of millions of tax dollars into the state budget.

The bill's main sponsor, Rep. Mark Mustio, R-Allegheny, said Monday that Sands' ad campaign is misleading.

"They are trying to create a boogieman and I'm not interested in playing that game," Mustio said. "If they can spend $1 million for an ad campaign, maybe we should raise their taxes."

Mustio said allowing five machines doesn't make a bar a casino, and the bill only allows the terminals in liquor-licensed establishments, truck stops and off-track betting facilities. Liquor Control Board records show that 35 nursing homes statewide have active liquor licenses but Mustio said he didn't know that, and the bill can be amended to exclude nursing homes as has been done with groceries that have licenses to sell beer or wine.

The bill's purpose, Mustio added, is to legalize and tax illegal terminals operating in social halls and taverns across the state.

"We don't have $1 million to fight Sands, but we have friends in the Senate and House," said Tavern Association President Tom Boock, who owns the Cottage Pub and Restaurant in Chambersburg, Franklin County. "We're not just going to back down to these billionaire casino owners."

Among those friends is Sen. Lisa Boscola, D-Northampton, whose Bethlehem office is roughly a mile from Sands. Boscola said she doesn't believe the terminals are a threat to the casino industry.

"They are entitled to have their ad campaign, but it's not going to change my vote one way or the other," Boscola said

Sands, arguably the state's most successful casino, may rule Pennsylvania's gambling landscape, but its executives are admittedly worried about VGTs. And they should be worried, said John Cunnane, a Wall Street gaming and leisure analyst for Stifel Investment Services, because House Bill 1010 calls for sweeping expansion. It would give the state's more than 16,000 establishments with liquor licenses a chance to have what are essentially tavern slot machines.

Sources have said Sands already has been damaged by the threat of the terminals. Sources in March said the world's largest casino company had a tentative deal to sell its south Bethlehem casino, hotel, outlet mall and concert venue to the world's second-largest, MGM Resorts International. Las Vegas Sands Corp. confirmed the casino had an interested buyer, but never commented on who it was. However, two weeks ago, sources said MGM pulled out of the deal, fearing that VGTs would be approved in Pennsylvania, if not this year then later.

Under the bill, bars, clubs and restaurants could have as many as five terminals each, and off-track betting facilities and truck terminals could have up to 10. Analysts estimate it would add 35,000 to 40,000 machines statewide. The combined number of slot machines at the state's 12 casinos is less than 27,000.

"That's an insane number of VGTs, and we've seen the impact that's had on casinos in places like Iowa and Illinois," Cunnane said. "It won't cause a mass exodus from casinos, but they will feel the pain, no doubt."

Cunnane explained that because Pennsylvania's casino model is built on the convenience gambler rather than Las Vegas or even Atlantic City, which cater to the destination gambler adding thousands of more convenient locations will have a major impact on the bottom line.

In Illinois, for example, its 10 riverboat casinos had $1.6 billion in gross revenues in 2012, before VGTs arrived. Last year, revenues were down to $1.4 billion, and the tax to the state fell nearly $100 million, to $477 million, according to figures compiled by the Illinois Gaming Board.

VGT proponents say there are 40,000 machines being played illegally in private clubs and bars, though state police put the number closer to 15,000. House estimates say it will produce $100 million in the first year and up to $500 million more in taxes down the road.

Based on testimony during gambling hearings in March, it appears that 11 of the state's 12 casinos will oppose the terminals. Hollywood Casino in Dauphin County supports them, largely because its owner, Penn National Gaming, owns a VGT business that includes more than 1,500 machines in Illinois.

There are some carrots in the bill to entice casinos to endorse it. The latest version would reduce the 54 percent slot machine tax in casinos to 49 percent, but that has not swayed Sands.

massad@mcall.com

Twitter @matthewassad21

610-820-6691

What House Bill 1010 legalizes: Up to five video gaming terminals similar to slot machines in liquor-licensed facilities, such as bars and restaurants, and up to 10 VGTs in truck stops and off-track betting facilities.

Where the bill stands: It was introduced in the House on Monday, where it could get amendments, but it's unclear how soon, or if, it will come for a vote. To become law, it would also need approval in the Senate, where there is far less support for VGTs.

Why Sands casino is waging an ad war against it: Sands executives fear the addition of 40,000 VGTs statewide would affect their bottom line by keeping people from visiting brick and mortar casinos.

Read more here:

Sands Bethlehem casino waging ad war against tavern gambling - Allentown Morning Call

Posted in Gambling | Comments Off on Sands Bethlehem casino waging ad war against tavern gambling – Allentown Morning Call

Reynolds defends use of gambling exec’s jet – Radio Iowa

Posted: at 6:43 am

Governor Kim Reynolds.

Governor Kim Reynoldssays she double checked with the state Ethics Boardabout using a gambling industry executives private plane to fly around the state with her acting lieutenant governor.

The gift of the planes use is considered adonation to the governors campaign. Gary Kirke, the planes owner, is seeking a state license for a new gambling casino in Cedar Rapids. Kirke and his wife also are co-hosting a campaign fundraiser for Reynolds next week in Cedar Rapids.

Reynolds says the decision about a Cedar Rapids casino will be made by the Iowa Racing and Gaming Commission.

I have not and will not weigh in on any of the casino licenses, Reynolds says.

Cedar Rapids Mayor Ron Corbett is considering running against Reynolds for the GOPs nomination for governor in 2018. Corbetttold The Cedar Rapids Gazetteit appears Reynolds may be getting too cozy with an executive who hopes to land a multi-million dollar casino. Democrats who hope to face-off against Reynolds next year are weighing in, too.

According to an @IAStartingLine tweet on Saturday, one Democrat at a candidate forumjoked that none of the Democrats flew to the event in southern Iowa on a corporate jet.

More here:

Reynolds defends use of gambling exec's jet - Radio Iowa

Posted in Gambling | Comments Off on Reynolds defends use of gambling exec’s jet – Radio Iowa