Monthly Archives: June 2020

Acute Hospital Care Market to Witness Astonishing Growth by 2026 with Key Players HCA Holdings, Community Health Systems, Universal Health Services,…

Posted: June 17, 2020 at 1:40 am

Acute Hospital Care Marketresearch is an intelligence report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this report analysis.

Acute Hospital Care Market is growing at a High CAGR during the forecast period 2020-2026. The increasing interest of the individuals in this industry is that the major reason for the expansion of this market.

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Top Key Players Profiled in This Report:

HCA Holdings, Community Health Systems, Universal Health Services, Tenet Healthcare Corp, Vanguard Health System, Ardent Health Services, Kindred Healthcare, PruittHealth, National HealthCare.

The key questions answered in this report:

Various factors are responsible for the markets growth trajectory, which are studied at length in the report. In addition, the report lists down the restraints that are posing threat to the global Acute Hospital Care market. It also gauges the bargaining power of suppliers and buyers, threat from new entrants and product substitute, and the degree of competition prevailing in the market. The influence of the latest government guidelines is also analyzed in detail in the report. It studies the Acute Hospital Care markets trajectory between forecast periods.

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The Acute Hospital Care Market report also covers a detailed comprehension of the major geographies present in the market along with the key segments and sub-segments. The report focuses on regional development status, which includes the market size, share and volume. Additionally, this report covers the manufacturers data, including business distribution, cost and price, margin and gross revenue. This allows a reader to understand consumers behavior and a better understanding about the leading competitors operation in the market.

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Table of Contents

Global Acute Hospital Care Market Research Report 2020 2026

Chapter 1 Global Acute Hospital Care Market Overview

Chapter 2 Global Economic Impact on Industry

Chapter 3 Global Market Competition by Manufacturers

Chapter 4 Global Production, Revenue (Value) by Region

Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions

Chapter 6 Global Production, Revenue (Value), Price Trend by Type

Chapter 7 Global Market Analysis by Application

Chapter 8 Manufacturing Cost Analysis

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers

Chapter 10 Marketing Strategy Analysis, Distributors/Traders

Chapter 11 Market Effect Factors Analysis

Chapter 12 Global Acute Hospital Care Market Forecast

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For Broadcasting, a tale of contradictions and apprehensions – Vanguard

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Okoh AiheBy Okoh Aihe

Understandably the Nigerian government last week hailed media entrepreneur and emerging movie maker, Mo Abudu, for notching up a deal with global streaming outfit, Netflix, for on-screen adaptation of Wole Soyinkas Death and The Kings Horseman and Lola Shoneyins The Secret Lives of Baba Segis Wives.

The partnership described by the Minister of Information and Culture, Alhaji Lai Mohammed as another feather to Mo Abudus already well-adorned creative cap, will result in the creation of two original series as well as multiple Netflix-branded films.

Coming after Netflixs first Nigeria original film, Lionheart, this is a great recognition of the immense creative talents that abound in Nigeria and the provision of a global platform for Nigeria storytelling, the Minister enthused.

Forgive my shame. I know very little about Shoneyins work although this may not be for long, but I have been part of a group that produced Death and the Kings Horseman on stage, besides using it as a text in school. The play is a sustained evocative chant, a carefully woven poetic fluidity whose entertainment lore makes lithe and accommodating the seriousness of a creative masterpiece and a cultural reference point. Each time I ask myself, at what spiritual level was Soyinka operating when he created that masterpiece?

The answer may never come but faithfully interpreting that work with some level of boldness and some dash of cinematic genius and tech peppering, will perhaps transmute the work to a new age of cultural appreciation, acceptance and preservation. It will transcend time and generations and come to our children in the language they understand.

This kind of partnership is an affirmation of the countrys cultural buoyancy which can only attract more interests from within and abroad as it will provide very rich entertainment content for the television. Will such work enjoy the protection of the sixth edition of the Broadcasting Code?

This question may rile some people who believe that the new Broadcasting Code is already sacrosanct, if ever a document can be. The Code released recently has attracted very sharp reactions from different stakeholders of the industry. For some, the real deal has come for Nollywood to begin to make money while for others, it is like a book of satanic verses: it will scare investors away.

Roundly, there is superficiality in our response to a very complicated document instead of sturdy circumspection in looking at the details which, as they say, always house the devil. And there are many in this document which make it worrisome to a section of the industry.

But there is what seems to be a measured response by Mr Godfrey Ohuabunwa, Chairman Association of Licensed STB Manufacturers of Nigeria, who is also the Vice Chairman of the Broadcasting Organisation of Nigeria (BON). On the issue of Monopoly and what the Code intends to achieve, Ohuabunwa explained, the amended Code is in our favour.

It discourages warehousing of contents and creates more businesses for both platform owner and the broadcasters. It is not in any way against competition or investment. The core point is that henceforth you must sublease to other platforms and give subscribers and customers at all level the opportunity to view the content while you are still making money from everyone.

Founder of IrokotTV, Jason Njoku is not as fascinated with the development but instead expressed disgust and apprehension as he unleashed a Twitter blitz. Nigeria Broadcasting Commission (NBC) in making exclusivity illegal, compelling sub-licensing of content and regulating price, are effectively turning the private enterprise into state property. Interference distorts markets. If implemented, this 100% destroys PayTV in Nigeria.

There are quite some other reactions. For instance the amendment which gives movie makers and broadcasters the opportunity to earn more from advertising has presented some honey appeal to the industry with some members already punching the calculator to know how much is due them in the short term!

But in trying to calm industry anxieties on Monday, Acting Director General of the National Broadcasting Commission (NBC), Prof Armstrong Idachaba informed that the amendments were being carried out for the benefit of the various stakeholders in the broadcast industry.

The Commission wishes to reiterate the fact that the objectives of the amendments are in our National Best interest. We currently have a highly rated and hugely talented creative industry in Nigeria but the facts remain that content producers are unable to harness the benefits of their creative endowment due largely to monopolistic restrictions and anti-competitive behaviour. The current amendment aims to reposition the Nigerian broadcasting industry and to make it more responsive to emerging realities, he said.

Armstrong anchored his position on Sections 6.2.8. and 9.0.1, which particularly forbid exclusivity in the industry, especially, 9.0.1 which states that a Broadcaster or licensee shall immediately after the coming into force of this Amendment be prohibited from effecting informal agreements, written and oral agreements, explicit or implicit understandings or implementing concerted practices either exclusively or between market players that have as their object, intent, effect or purpose the restriction of competition, abuse of a dominant position or of substantial market power or create barriers to entry in the broadcast media industry in Nigeria.

How this works will unfold in the days ahead. As it is, so many players are digging deep and taking very firm positions on how to handle what portends a tinder situation awaiting a little spark. But a commonality at the centre of this rumbling development is that, at the end of the day, all parties irrespective of concerns, will have to subject themselves to modern business practices which rest on profit and shared interests.

VANGUARD

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Atiku to Buhari: Unnecessary renovation of buildings, excessive waste should stop – Vanguard

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Muhammadu Buhari and Atiku Abubakar

The Presidential candidate of the Peoples Democratic Party, PDP, in the 2019 general elections Alhaji Atiku Abubakar, Tuesday, advised President Muhammadu Buhari to reduce the expenses running into millions in his administration.

Disclosing this via his facebook handle, the former vice president cautioned the Federal Government to drastically reduce its expenditure, especially on wasteful projects, such as maintenance of the Presidential Air Fleet, and unnecessary renovations of buildings that could serve as is, limousine fleet for top government officials, overseas travels and treatments, and the 4.6billion Presidential villa maintenance budget, etc.

Read the full statement below:

Nothing has shocked me in my entire life in public service as the revelation from Nigerias First Quarter 2020 financial reports in the Medium Term Expenditure Framework and Fiscal Strategy from the Federal Ministry of Finance, Budget, and National Planning, which shows, alarmingly, that whereas Nigeria spent a total sum of 943.12 billion in debt servicing, the Federal Governments retained revenue for the same period was only 950.56 billion. This means that Nigerias debt to revenue ratio is now 99%.

No one should be deceived. This is a crisis! Debt servicing does not equate to debt repayment. The reality is that Nigeria is paying only the minimum payment to cover our interest charges. The principal remains untouched and is possibly growing.

READ ALSO: Economy remains on life support, national debt may spiral out of control Peter Obi

We are at a precipice. If our revenue figures do not go up, and go up quickly, Nigeria risks a situation where our revenue cannot even sustain our debt servicing obligations. Meaning that we may become insolvent, and our creditors may foreclose on us, as has occurred in Sri Lanka and the Maldives.

In my opinion editorial of December 17 2019, titled Endless Borrowing Will Lead Nigeria to Endless Sorrowing, I had cause to counsel the Federal Government to desist from indiscriminate lending, and offered suggestions on ways to both increase revenue and reduce expenditure. However, my counsel fell on deaf ears. And now we have come to this.

Again, on May 15, 2020, I counselled that the Federal Government ought to reduce Nigerias budget by at least 25%, to reflect the economic realities of the times that we live in. Again, my entreaties were brushed aside.

As part of an administration that paid off Nigerias entire foreign debt, I am concerned by the alarming and avoidable unprecedented increase in our debt to GDP ratio and debt to revenue ratio. The alarm I sounded last year is now sounding louder.

Not only have we squandered our opportunities, we have also squandered the opportunities of our future generations by bequeathing them a debt that they neither incurred nor enjoyed.

As a matter of utmost urgency and importance, I call on the Federal Government to take immediate steps to drastically reduce its expenditure, especially on wasteful projects, such as maintenance of the Presidential Air Fleet, and unnecessary renovations of buildings that could serve as is, limousine fleet for top government officials, overseas travels and treatments, and the 4.6billion Presidential villa maintenance budget, etc.

We cannot be on the verge of economic ruin, while still maintaining a Presidential Air Fleet that has more planes than the Presidential fleets of those from whom we take these loans. Nigeria must sell those planes and channel the revenue to other vital areas of need while taking additional steps to reduce the cost of running our government.

The Federal Government cannot continue to justify these unsustainable numbers by pointing at Nigerias debt to GDP ratio. That is only half the picture. Our debt to revenue ratio paints a much more realistic portrait of our financial situation, especially as our revenues are majorly tied to a mono-product, oil and gas, which are very vulnerable to global shocks.

Again, I warn that Nigeria is facing a crisis, and we cannot continue to keep up appearances by taking out more loans to prop up our economy. That will amount not just to robbing Peter to pay Paul, but to robbing our children to pay for our greed!

Vanguard

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The Role of Stable Value in Each Stage of the Savings Journey – PLANSPONSOR

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The retirement savers who suffered the most harm during the market plunge in March were those at or near retirement who had too much invested in equities.

With the S&P down more than 8% in February and more than 12% in March, losses were significant for those who accumulated a lot of savings over their lifetime, says Nick Gage, senior principal and head of stable value separate account strategy at Galliard Capital Management, and chairman of the Stable Value Investment Association (SVIA) board of directors, who is based in Minneapolis.

Everyone knows that as savers get closer to retirement, they should move more of their assets into fixed income or safer investments. Target-date funds (TDFs) do this, although at varying rates.

However, in the recent market downturn, even traditional fixed income was extremely volatile, notes Greg Jenkins, head of institutional defined contribution at Invesco in Dallas, Texas. He adds that money market fund yields are right around zero with no rise in rates in sight. The FOMC [Federal Open Market Committee] said it would be 2022 before it raises rates.

The SVIA says stable value returns are generally negatively correlatedthey have the least relationship with equity investmentsso stable value protects retirement savings when equity markets swoon from shocks such as the coronavirus pandemic. Stable value returns are like intermediate-term bondsas bonds are the underlying strategies in stable value productsjust without the volatility. And compared with money markets, stable value products have historically outperformed money markets given their longer durationand thats by design. However, the SVIA says there are more reasons beyond low volatility for plan sponsors and participants to consider stable value.

Patricia Selim, CFA, a portfolio manager and head of stable value investments in Vanguards fixed income group, and chair of the SVIAs communications and education committee, who is based in Malvern, Pennsylvania, explains that stable value invests in fixed income strategies, but the duration is typically longer than for money market fundsmoney market funds duration is about 60 days, and stable value duration ranges by product structure but is generally two to six years. That longer duration enables a safe yield curve for a higher yielding investment and the nature of the underlying strategies are diversified across a broad range of asset classes. The contract that wraps those strategies creates principal preservation, she says.

According to SVIA data, the annualized return from 2000 to 2020 is 4.22% for stable value and 5.25% for stocks. One might expect the difference to be greater.

Warren Howe, national sales director, stable value markets, MetLife, and former member of SVIAs board of directors, based in Bloomfield, Connecticut, explains, When you look at the 20-year period, the differential is not that great, but it depends on what point in that period you look at. The impact of that volatility affects peoples balances at retirement. The great thing about stable value is it smooths out that volatility. The difference between what a person with assets invested in stocks would have at retirement if he retired in 2019 and what another will have if he retires in 2020 is an example of the sequence of return risk participants close to or in retirement face.

Howe adds that in the first quarter of 2020, the volatility of TDFs, especially in the 2020 fund range, was also significant. Anything plan sponsors can do to alleviate volatility for those who can least afford loss is good. Use stable value, he says.

The SVIA says stable value is the only investment that provides the distinctive combination of principal preservation, consistent positive returns and liquidity for participant benefit payments. Howe says other investment options may provide liquidity, but not principal preservation. And, by having a steady stream of returns, it helps retirement plan participants plan for a paycheck in retirement.

Unlike some annuity type products, stable value gives retirees the flexibility to withdraw funds if and when they need it, Gage says. Its not guaranteeing income, but it has a stable rate of return and offers flexibility.

Howe points out, Everything were seeing points to participants keeping their assets in the plan and plan sponsors encouraging that.

And Gage points out that stable value funds are only available through qualified retirement plans. As plan sponsors begin to think about tailoring plans to provide participants with tools to fund their retirement, stable value is a very attractive component for retirement income, he says.

Stable value funds can also play a role in the portfolios of participants who are still building their savings.

Everyone says younger participants have a significant time horizon and should be more invested in equities, but [asset allocation] is also about a persons risk tolerance. Or, there may be a shorter-term employee who knows he will be rolling his balance somewhere else, Howe says. Even if its not part of a persons ongoing asset allocation, it should be available to provide a safety net in times like these.

He adds that a participant who is younger and doesnt want any losses in the fixed income portion of their account could use stable value.

Jenkins says Invesco recently finished a behavioral investment menu study called The Forgotten Participant that was aimed at understanding the group that of participants that wants more control over their retirement plan investments. We found about one-third of participants want more control than they would have in a TDF. What we ultimately found is we cant make many assumptions, he says. Some of the participants thoughts about the way they allocate their investments are logical, and for some, it is based on how they feel.

The research showed there were a variety of opinions about appropriate risk levels, Jenkins says. But he points out that people in the study talked about the effects of life changes on their investing decisions. For example, when starting a family, some who were more aggressive wanted to be more conservative at that moment, he explains.

Jenkins says another thing that came out in the research is that a sector of participants across age ranges said they had other retirement accounts in their household. So, in one particular plan, they may decide to be more aggressive or more conservative, he says.

Jenkins adds that there is a school of thought that when participants first start their savings journey, they should be invested in stable value to get them started with growing their accounts. I dont want to suggest its right, but there are interesting arguments for why it may make sense to do so, he says. Jenkins shared data from the UKs National Employment Savings Trust (NEST) which shows the default investment for a young participant is a more conservative asset allocation fund, similar to a 2025 TDF, that has about a 20% allocation to stable value-like investments.

Stable value hasnt been a common investment in TDFs, as they typically invested in mutual funds, but Jenkins says hes seen stable value used in custom TDFs and is seeing a trend starting in off-the-shelf products.

He notes that, according to latest Callan DC Index statistics, stable value is offered in about 77% of defined contribution (DC) plans. Thats in line with what weve observed in the marketplace as well. All plan sponsors want a low-risk option and to satisfy ERISA [Employee Retirement Income Security Act] Section 404(c), they have to have it, he says. Plan sponsors are thinking if money market funds are not going to have a significant yield in years to come, lets look at something else.

Jenkins adds, It appears from our study there are always going to be a set of participants that want more control over their investments. Plan sponsors shouldnt second guess [participants] reasons but make sure they have the tools to invest the way they want to.

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Solar Power Satellite Hardware That Beams Energy to Earth Tested in Orbit – SciTechDaily

Posted: at 1:40 am

By U.S. Naval Research LaboratoryJune 16, 2020

Image of the Photovoltaic Radio-frequency Antenna Module (PRAM) with a 12-inch ruler for scale. The hardware is the first orbital experiment designed to convert sunlight for microwave power transmission for solar power satellites. Credit: U.S. Naval Research Laboratory

U.S. Naval Research Laboratory engineers launched PRAM, the Photovoltaic Radio-frequency Antenna Module, aboard an Air Force X-37B Orbital Test Vehicle on May 17 as part of a comprehensive investigation into prospective terrestrial use of solar energy captured in space.

To our knowledge, this experiment is the first test in orbit of hardware designed specifically for solar power satellites, which could play a revolutionary role in our energy future, said Paul Jaffe, PRAM principal investigator.

The 12-inch square tile module will test the ability to harvest power from its solar panel and transform the energy to a radio frequency microwave.

PRAM converts sunlight for microwave power transmission. We couldve also converted for optical power transmission, said Chris Depuma, PRAM program manager. Converting to optical might make more sense for lunar applications because theres no atmosphere on the Moon. The disadvantage of optical is you could lose a lot of energy through clouds and atmosphere.

The X-37B Orbital Test Vehicle sits on the runway during post-landing operations at Vandenberg Air Force Base, Calif. Technicians in self-contained atmospheric protective ensemble suits conducted initial checks on the vehicle and to ensure the area was safe. Credit: U.S. Air Force photo/Michael Stonecypher

The use of solar energy to operate satellites began at the start of the space age with another NRL spacecraft: Vanguard I, the first satellite to have solar cells. This current experiment focuses on the energy conversion process and resulting thermal performance. The hardware will provide researchers with temperature data, along with PRAMs efficiency in energy production. This information will drive the design of future space solar prototypes.

Depending on the results, the team aims ultimately to build a fully-functional system on a dedicated spacecraft to test the transmission of energy back to Earth. The development of a space solar capability could potentially help provide energy to remote installations like forward operating bases and disaster response areas.

This flight experiment enables researchers to test the hardware in actual space conditions. Incoming sunlight travels through the Earths atmosphere, both filtering the spectrum and reducing its brightness. A space solar system traveling above the atmosphere would catch more energy from each of the sunlights color bands.

Theres more blue in the spectrum in space, allowing you to add another layer to solar cells to take advantage of that, Jaffe said. This is one reason why the power per unit area of a solar panel in space is greater than on the ground.

The National Security Space Office recommended in a 2007 feasibility study to investigate solar power satellite technology. NRLs expertise with solar-powered satellites since the late 1950s and long history as a pioneer in space, including in the development of GPS, led researchers to further explore this emergent field.

Contributing and supporting partners for this effort included the Operational Energy Capability Improvement Fund in the Office of the Under Secretary of Defense for Research and Engineering, the U.S. Naval Research Laboratory, the Department of the Air Force Rapid Capabilities Office, the Department of Defense Space Test Program, Boeing, TSC Praxis Operations, Gulfview Research, Odin Engineering, and SpaceQuest.

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13 things you probably didn’t know about the Black Panther Party – Business Insider Australia

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The Black Panther Party was one of the most influential grassroots political forces of the 20th century. Founded by Huey Newton and Bobby Seale in 1966, the Panthers eschewed civil disobedience in favour of armed shows of force, particularly to confront police violence.

The BPP was controversial from the start: There were shootouts with police, murders, and accusations the Party was a front for drug-dealing, prostitution, and extortion.

But the BPPs belief in Black self-determination fuelled dozens of social programs benefiting tens of thousands, including free-breakfast programs and no-cost medical clinics.

Eventually, the Party opened liberation schools, where children learned Black history and political science. They practiced penmanship by writing letters to incarcerated members.

At its height, the BPP had thousands of members in nearly 70 cities. In-fighting, FBI infiltration, and other factors led to the groups decline, and the Panthers officially dissolved in 1982.

In the wake of the killing of George Floyd, the call against police brutality has gone out again.Learn more about the untold history of the Black Panther Party

On September 27, 1966, a police officer shot Matthew Johnson, an unarmed 16-year-old, in the back in San Franciscos Hunters Point neighbourhood, sparking violent unrest for several days.

Huey Newton decided the only way to address police brutality was to monitor the authorities. He read up on Californias open-carry laws and, within weeks, had armed men patrolling the streets of Oakland. If they saw an arrest, they would approach with their firearms visible and inform the suspects of their rights. The practice came to be known as copwatching.

In the late 1960s, photographs of visibly armed Black men panicked conservatives.

In April 1967, California State Assemblyman Don Mulford introduced a ban on carrying loaded firearms in public. Weeks later, a group of armed Panthers barged into the State Assembly in Sacramento to protest.

The Mulford Act was soon passed by a large majority and signed into law by then-Governor Ronald Reagan.

There is no reason why, on the street today, a citizen should be carrying loaded weapons, Reagan said at the time. Guns are a ridiculous way to solve problems than have to be solved among people of good will.

According to Stanley Nelson, director of The Black Panthers: Vanguard of the Revolution, Huey Newton and Bobby Seale chose the Panthers look because it was something that everybody had in their closet.

They said, You know, every young black man has a black leather jacket or can get one or can borrow one if they cant buy one, he told Fresh Airs Terry Gross.Everybody could get a beret. Everybody could get some sunglasses and get the Panther look.

The uniform was also calculated to be distinct from the suit-and-tie look favoured more traditional civil-rights activists.

In 1969, the Black Panther Party began serving free hot breakfasts to kids in Oakland, soliciting food from local grocers and consulting nutritionists on healthy and filling recipes.

The Free Breakfast for School Children Program eventually expanded to 45 cities and fed tens of thousands of kids, according to History.com.

Schools and parents praised it, but the police and FBI spread rumours the BPP was using the meals to indoctrinate or even poison kids.

In 1975, just as the BPPs breakfast programs were being shut down, the USDA permanently authorised the nationwide School Breakfast Program, which fed more than 14 million children in 2016 alone.

After the success of its free-breakfast programs, the BPP addressed the imbalance in Americas healthcare system by opening no-cost health clinics in 13 cities.

Peoples Free Medical Centres offered vaccinations, checkups, cancer screenings, and more in storefronts and trailers. They were staffed by doctors and trained volunteers.

When a Black teen in Winston-Salem, North Carolina, died because an ambulance refused to take him to the hospital, the Panthers converted an old hearse into a free ambulance service.

First identified in 1910, sickle cell anemia attracted little scholarship or funding because it primarily affected people of African descent.

The Panthers established a national screening program, training volunteers to go door-to-door in predominantly Black neighbourhoods and give free fingerstick tests. Followup care for anyone who tested positive was arranged with local hospitals. The Panthers high profile campaign put pressure on President Nixon to sign legislation that funded sickle cell research and clinics in 1972.

Huey Newton was heavily influenced by Chinese revolutionary Mao Zedong, and even sold copies of the Little Red Book to buy guns.

Maos philosophy appealed to the BPP because, as Eveline Chao wrote in ChinaFile,, it made Marxism, which otherwise seemed like something for the white New Left, applicable to people of colour.

In 1971, Huey Newton and Elaine Brown flew to Beijing and met with Premier Zhou Enlai and Maos wife, Jiang Qing.

They were met by throngs of cheering young people at the airport, waving copies of the Little Red Book and signs that read We support the Black Panther Party, down with U.S. imperialism.

In the early 1970s, Cesar Chavezs United Farm Workers union boycotted Safeway in California for selling grapes picked by non-union workers.

Safeway, coincidentally, was one of the few markets to refuse to donate to the Panthers free-breakfast program.

Seizing the opportunity, the BPP began ferrying shoppers to competing Luckys supermarkets free of charge.

The boycott was successful enough that at least one Safeway in Oakland was forced to close.

The Black Panthers launched Seniors Against A Fearful Environment (SAFE) after a group of older Oakland residents asked them to teach them self-defence to fend off muggers.

The seniors had originally approached the police for help but were told to just walk close to the curb, according to the Atlanta Black Star.

The SAFE program also provided free transportation so older locals could deposit their social security and pension checks.

Hoover used a special counterintelligence program, COINTELPRO, to discredit party leaders.

Agents sent letters to members wives accusing them of infidelity, according to Historian Thomas J. Reed, to terrorize and divide the Black Panthers into warring factions.

Newton and others alleged the FBI arranged the assassination of BPP member Fred Hampton in December 1968.

Hoover terminated COINTELPRO in 1971 after its undercover activities were exposed by The Washington Post and other outlets.

The singer, born Yvette Stevens, was recruited by the Panthers to sell newspapers in 1969, when she was just 14.

I was totally against all the sock hops and shit my school had to offer to keep the natives quiet. We used to call them slave gatherings,' she told The Guardian in 2019. So, I had my combat boots on, my green khaki pants. I didnt feel in danger it wasnt like that. We were doing the right thing.

She became disillusioned with the party, though, when she was given a gun.

Im telling you, every moment I had that gun it changed me, she said. I felt physically sick. Khan said she didnt feel better until she threw the .38 in a pond.

When reporters asked Huey Newton what white allies could do to support the Black Panthers, he said they could form their own party.

In 1968, former MC5 manager John Sinclair launched the White Panther Party as an anti-racist political collective.

That same year, Sinclair and Pun Plamondon were indicted for conspiracy to destroy a CIA branch office. The case brought to light the governments extensive wiretapping of Black Panther offices, according to the San Francisco Bay View.

In a landmark decision, the Supreme Court ruled that warrantless wiretapping was a violation of the Fourth Amendment.

When Panther leader Huey Newton fled to Cuba after being charged with murder, he appointed Elaine Brown the partys new chair.

It was a revolutionary move, challenging the groups entrenched sexism.

A woman in charge was the violation of some Black Power principle that was left undefined, Brown wrote in her 1992 memoir, A Taste of Power. I knew I would have to muster something mighty to manage the Black Panther Party.

As leader, Brown focused on community service, education, and politics. She managed Lionel Wilsons successful bid to become Oaklands first Black mayor.

After Newtons return in 1977, Browns stepped down and soon broke ties with the Panthers. She alleged Newton authorised the beating of another female member. The vicious attack, she wrote in her memoir, sent a signal denoting an inferiority in the female half of us.

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Neiman Marcus scales hurdles in bankruptcy financing and moves ahead with reorganization – The Dallas Morning News

Posted: at 1:38 am

Neiman Marcus received final approval from the U.S. Bankruptcy Court to access the next phase of $675 million in new financing to help it reorganize and start reopening stores.

Financing agreements put in place with a majority of lenders had some contested issues, and those were worked out before the hearing Tuesday when Judge David Jones approved the revised terms.

The company will get access to $250 million now and $150 million more through early September. It originally received approval for $275 million when the bankruptcy was filed on May 7.

The funds provide the retailer with ample liquidity to ensure business continuity as we gradually reopen our stores, invest in fall inventory and fund the expansion of our digital offerings, said Geoffroy van Raemdonck, CEO of Neiman Marcus.

We remain on track to emerge from this process in fall 2020, he said.

Business has been strong in recent weeks, he said. The chain has operated during the coronavirus closings and since with digital stylists and online.

So far, two stores have reopened to customers, NorthPark Center in Dallas and Lenox Square in Atlanta. About 90% of the 43 Neiman Marcus stores are either open by appointment or offering curbside pickup of online and phone orders. Neiman Marcus also owns Bergdorf Goodman in New York. Before its bankruptcy, the company had said that it would close more than 20 Last Call clearance stores this summer.

When the company exits bankruptcy, it will have shed $4 billion of debt from its balance sheet.

As part of the revised financing agreement, Neiman Marcus lenders released any claims to the companys former German subsidiary Mytheresa, which was transferred in 2018 to Neiman Marcus shareholders Ares Management and the Canada Pension Plan Investment Board. That transfer of an asset, which was valued at $1 billion at the time, to the retailers private equity owners was contested in court by bondholder Marble Ridge.

Also, the agreement is no longer an exclusive one, meaning that a third party, such as the creditors committee, could file an alternative plan to pursue claims against Ares and the Canada pension fund. After a contentious hearing two weeks ago, the judge allowed the creditors committee to investigate the transfer of Mytheresa.

A $6 billion leveraged buyout of Neiman Marcus in 2013 by Ares and the Canada Pension Plan doubled the retailers debt and eventually led to its bankruptcy filing.

Twitter: @MariaHalkias

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Neiman Marcus scales hurdles in bankruptcy financing and moves ahead with reorganization - The Dallas Morning News

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Did restaurants escape the bankruptcy wave? Not really – Restaurant Business Online

Posted: at 1:38 am

When states began shutting down dining rooms back in March, many of us expected the industry would be hit by an unceasing wave of bankruptcy filings, particularly as June rolled around and chains ran out of cash.

That hasnt happened. Oh, sure, plenty of companies have sought out debt protection over the past three months. That includes Souplantation and Sweet Tomatoes, the buffet chains that opted to file for Chapter 7 liquidation. Its equipment is getting auctioned off as we speak. Yet there havent been as many as expected.

But others surely are coming. Many companies are in something of a limbo state as they try to work their way through the coming months. Navin Nagrani, executive vice president and operating partner with Hilco Real Estate, describes it as a weird lull.

He also expects a lot more bankruptcies at companies that received rent-deferrals during the pandemic that might come due in the near future.

The biggest potential problems could be among casual dining chains or other concepts that may face sales challenges coming out of the pandemic, anyway, and have sponsors currently questioning the level of investment to put into the business.

Many of these sponsors could opt against adding to their investment, which could prompt such companies to seek out debt protection.

In other words, the industry isnt remotely out of the woods yet, even as sales improved. Many companies are simply trying to figure out the landscape before taking such a drastic step as a bankruptcy filing.

A number of chains are clearly in danger of such a step, anyway. Chuck E. Cheeses owner CEC Entertainment has taken the step of giving its executives bonuses and is working to avoid a filing.

Potbelly, meanwhile, is negotiating with the landlords of 100 restaurants that it wants to close, and could end up seeking a restructuring if it cant get enough of them to agree to have their leases bought out.

Multiple casual dining executives, meanwhile, including Ray Blanchette from TGI Fridays and Aziz Hashim from Ruby Tuesday, warned of numerous potential closures in the casual dining sector. Hashim himself warned of a potential bloodbath.

The problem for many of these companies, however, is a lack of buyers. A handful of companies have set themselves up as buyers of companies out of bankruptcy. No investor provided more of a lifeline to bankrupt restaurant chains than did Landrys owner Tilman Fertitta.

Yet Fertitta isnt exactly in a position to take on more restaurant chains. And many of the other buyers have been nowhere to be seen.

One investor who has stepped in on occasion is Robert Earl, whose Robert Earl Group recently acquired Bravo Cucina Italiana and Brio Tuscan Grille for $29 million, mostly in assumed debt.

For the most part, however, buyers have been distressed debt companies, such as Fortress Investment Group, which acquired both Krystal and the old Craftworks concepts in credit deals.

All that said, the major chain universe appears to have escaped the worst of the pandemic shutdown, and many chains have at least reached the point where they are cashflow neutral. Independent and local concepts with a lot less room for error are in far bigger danger overall, and thousands of those locations could close.

But the world of private equity-owned chains with a lot of debt and little or no growth faces a tough few months.

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Did restaurants escape the bankruptcy wave? Not really - Restaurant Business Online

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Looking to buy a car? Hertz is selling thousands of used cars in its fleet in bankruptcy at bargain prices – USA TODAY

Posted: at 1:38 am

Hertz, whose car-rental bands also include Dollar and Thrifty, lost almost all their revenue when travel shut down due to the coronavirus this year. Wochit

Weeks after filing for Chapter 11 bankruptcy protectionMay 22, car rental company Hertz is selling vehicles in its fleet at discount prices.

As of Saturday morning, Hertzhadthousands of used cars available on its websiteHertzCarSales.com. The volume of cars for sale in an area depends on the location used in the search, and vehicles are delivered free up to 75 miles.

The coronavirus pandemicforced several companies strained before the crisis to file for bankruptcy to try to survive. J.C. Penney, Neiman MarcusandTuesday Morningare among the chains that filed for bankruptcy since the start of the pandemic. Hertz competitorAdvantage Rent A Car filed for court protection from its creditors May 26.

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Hertz's fleet consists of roughly 700,000 rental cars, which have greatly diminished in value because of a sharp drop in used car prices caused by a freefall in auto sales stemming from the pandemic.

In a search on the Hertz website within 1,000 miles from Fort Lauderdale, Florida, there were more than 23,500 cars available Saturday. A2017Hyundai ElantraSESedan with nearly 71,000 miles was selling for$7,597 $1,740 below market price, according to websiteiSeeCars.com.

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A search within 1,000 miles of Beverly Hills, California, had almost 21,000 cars available Saturday.

Outside the 75-mile radius for free delivery, fees vary. Delivery of 76 to 200 miles costs $300. Within 600 to 800 miles, the cost is $1,000,Hertz says on its website.

Hertz Global Holdings racked up more than $24 billion in debt by the end of March, according to its bankruptcy filing, with only $1 billion in available cash.

Starting in mid-March, the company whose car rental brands include Dollar and Thrifty lost all revenue when travel shut down during the coronavirus crisis. The company made "significant efforts" but couldn't raise money on the capital markets, so it started missing payments to creditors in April, the filing said. Hertz has been roiled by management upheaval, naming its fourth CEO in six years May 18.

In late March, Hertz shed 12,000 workers and put 4,000 on furlough. It cut vehicle acquisitions by 90% and stopped all nonessential spending. The company said the moves would save $2.5 billion per year.

Friday, bankruptcy court approved Hertz's requestto sell 246.8 million unissued shares to Jefferies to raise up to $1 billion in new equity.

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Contributing:Laura Layden, Naples Daily News; The Associated Press

Follow USA TODAY reporter Kelly Tyko on Twitter:@KellyTyko

Read or Share this story: https://www.usatoday.com/story/money/cars/2020/06/13/hertz-used-car-sales-deals-bankruptcy-coronavirus/3182105001/

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Looking to buy a car? Hertz is selling thousands of used cars in its fleet in bankruptcy at bargain prices - USA TODAY

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Brazils Oi amends bankruptcy plan to add sale of mobile unit – Reuters

Posted: at 1:38 am

SAO PAULO, June 15 (Reuters) - Brazilian telecoms firm Oi SA announced late on Monday a proposed plan that, if approved by creditors, would allow the company to exit a long bankruptcy restructuring process that began in 2016.

Under the plan, Oi hopes to sell its mobile unit for at least 15 billion reais to refocus the company on its fiber network.

Brazils largest fixed-line carrier had approximately 65 billion reais ($12.65 billion) of debt when it filed for bankruptcy protection.

After selling some non-core assets, including its 25% stake in Angolan carrier Unitel, to release cash for the expansion of its fiber-to-the-home (FTTH) broadband service, Oi now seeks to amend its bankruptcy plan to add its mobile unit to the list of divestments.

All major rivals have expressed interest in buying Ois mobile business.

In March, TIM Participaes SA and Telefonica Brasil SA informed Ois advisor Bank of America of their interest in kicking off talks for a potential acquisition of all or part of Ois mobile division.

Ois efforts to file an amendment proposal to its bankruptcy plan led the company to postpone its first-quarter earnings initially scheduled for May 28.

In a separate filing on Monday, the carrier posted a net loss of 6.3 billion reais in the quarter ended on March 31 compared with a net profit of 679 million reais a year before.

Recurring earnings before interest, tax, depreciation and amortization (EBITDA) reached 1.5 billion reais, above a consensus estimate of 1.439 billion reais. Ois total debt stood at 24 billion reais, while its cash position stands at 6.3 billion reais.

$1 = 5.1371 reaisReporting by Gabriela Mello, editing by Louise Heavens

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Brazils Oi amends bankruptcy plan to add sale of mobile unit - Reuters

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