text:
West Africa's Over-Fishing Crisis
Sierra Leone's April ban on industrial fishing is drawing to an end. But faced with rampant illegal fishing and poor policing, the moratorium will do little to replenish the country's dwindling fishing stocks. The big issues that the ban fails to address, however, is illegal and unregulated fishing and the inability of Sierra Leonean authorities to police it.
Up and down Sierra Leone's 400-kilometer stretch of coastline, entire villages depend on the sea. Some 8,000 small boats manned by local fishermen go out every day to cast their nets – their catch a vital source of income in what is one of the world's poorest countries. Without the fishermen, Sierra Leoneans would also go hungry – more than four fifths of the population depend on fish as a source of animal protein. But the country's traditional fishing communities have long complained that their catch is drastically shrinking due to overfishing by foreign trawlers.
In an attempt to counter this, Sierra Leone's government temporarily banned fishing by industrial boats for a month from 1 April. Traditional fishermen were still allowed to ply their trade during the moratorium. And to ensure local markets still had a regular supply of fish, the government also banned fish exports during this period.
"We consulted with many experts and environmentalists and believe one month without them should be enough time to help replenish our stocks," Ibrahim Turay, the country's Deputy Minister of Fisheries, said earlier this month.
While Ibrahim Michael Kabia from Sierra Leone's Consumer Protection Agency welcomed the ban, he says it wasn't long enough. To have any chance of helping fish stocks rebound, it needed to last at least 90 days, he told DW.
"When the fish come to the shore to lay their eggs, it takes about one month or six weeks or eight weeks before they are hatched so that they get more fish. And the season for fishing, especially for you not to disturb the process of reproduction, is between April, May and June," Kabia explained. "So if you only consider April, by the time you lift the ban and people continue to fish, they'll be disturbing the young fish also." Kabia believes the public would have been more supportive if the fisheries ministry had taken the time to explain the need for the fishing moratorium instead of announcing it at short notice. After all, he said, it's a necessary "sacrifice for your future."
Some trawling firms tried to circumvent the ban by offering local fishermen loans in exchange for the rights to their entire catch. Although this was common before the April moratorium, according to Reuters, companies upped the practice after the announcement of the ban. The loan contracts require the fishermen to give the company exclusive rights to anything they catch until they pay the money back.
When it comes to assigning blame, many point their fingers firmly in the direction of China. China's distant water fleet (boats fishing in areas outside of the country's domestic waters) is the largest in the world. A 2013 study estimated that 3,400 Chinese vessels trawled the waters of nearly 100 countries. It's estimated that half of China's total catch from the distant water fleet is from West Africa. While trawlers from all of the world have licenses to fish in Sierra Leone's waters, three quarters of the foreign trawlers are Chinese. Chinese vessels, in particular, have been accused of using illegal methods in Sierra Leone waters such as pair trawling. This is when two boats string a net between them and trawl in parallel. Pair trawling is highly effective because it allows boats to cast a wider net. At the same time, it's incredibly destructive because it rakes in all marine life it encounters. Only a fraction of this catch has a commercial value, with the rest being discarded as bycatch. BBC News reported widespread use of pair trawling by Chinese fishing boats along Sierra Leone's coast – despite the practice being illegal and relatively easy to spot using freely available online satellite maps. A fishing officer told BBC he hadn't seen a pair trawler arrested in the seven years employed at his job. In Sierra Leone, all foreign trawlers must carry a fisheries officer on board who is supposed to report illegal activity. Poorly paid, however, they are unlikely to stop vessels breaking the law.
The scourge of overfishing isn't just restricted to Sierra Leone. Illegal, unreported and unregulated fishing is rife along West Africa's coast, one of the most diverse and economically important fishing areas in the world.
A 17-month satellite analysis of fishing trawlers operating off Ghana's coast found that a staggering 75 percent of them had no match in a database of legally operating vessels. This suggests "significant unregulated marine activity," the 2019 study found. Unregulated fishing is losing West African countries – who are among the least developed in the world – significant amounts of money. Sierra Leone, Mauritania, Senegal, The Gambia, Guinea Bissau and Guinea miss out on revenue of $2.3 billion (€2.06 billion) a year due to illegal trawling.
Oil corruption
Shell's controversial $1.1bn deal for a Nigerian oil licence included "unprecedented" terms which may have helped fund an alleged bribery scheme, according to new analysis.
The Anglo-Dutch company, along with Italian oil giant Eni, are on trial in Italy over allegations that almost all of the money they paid for the licence funded bribes for Nigerian officials including a former president and various middlemen. Oil consultancy firm Resources for Development found that the terms of the contract meant that Nigeria effectively gave up its share of future revenues from the block.
The type of contract, known in the industry as "sole risk", is particularly favourable to oil firms and has not been used in Nigeria since the end of military rule 20 years ago. Research last year by Resources for Development estimated that the terms of the contract could reduce the Nigerian government's revenue from the fields by $5.9bn when compared to a standard oil industry contract which shares revenues between oil companies and the state. Nigeria's most senior civil servant in the Department of Petroleum Resources objected strongly to the terms of the deal at the time, calling it "highly prejudicial to the interests of the Federal Government".
Analysis of documents including Shell and Eni's assessments of the licence shows that the contract terms boosted the value that the oil companies could extract from the block, allowing them to justify paying $1.1bn up front for it. That money then allegedly went to former Nigerian oil minister Dan Etete and was "intended for payment to President Goodluck Jonathan, members of the government, and other Nigerian public officials", Italian prosecutors say
"We've known of allegations of vast bribery in this deal for years," said Barnaby Pace, a campaigner at Global Witness. "Now we've learned that Shell and Eni profited unfairly through military-era contract terms meaning that it was Nigeria's share of oil that was used to fuel profiteering and payoffs."
Olanrewaju Suraju of HEDA said: "These companies and Nigerian officials agreed a sweetheart deal that deprives Nigeria of money it badly needs to build schools and pay doctors. President Buhari should reject any deal that leaves the OPL 245 oil license with these companies."
Nick Hildyard of The Corner House said: "Shell and Eni represented their OPL 245 contract as a production sharing system yet it includes no sharing of production for Nigeria. This shockingly poor deal must be cancelled."
Antonio Tricarico of Re:Common said: "The Italian government is discouraging Nigerian migrants trying to reach Italy by claiming that it will help them at home, but Italy's biggest multinational, part owned by the state, is accused of depriving the Nigerian people of billions. The OPL 245 scandal appears to show that Italians are not helping the poorest, but profiting from them."
https://www.independent.co.uk/news/business/news/shell-nigerian-oil-field-deal-funded-alleged-bribery-scheme-global-witness-a8891676.html
The Cameroon Conflict Ignored
Long-running tensions in the English-speaking Northwest and Southwest regions of Cameroon erupted into conflict in late 2016, prompting crackdowns by security forces and leaving 1.3 million people in need of aid, according to the United Nations. Cameroon's English speakers have felt increasingly marginalized by the French-speaking government in the capital Yaounde and in 2017 thousands took to the streets to demand a breakaway state. The military stepped in and thousands of Anglophones fled the ensuing crackdown, which Cameroon authorities described as an anti-terrorist operation. A U.N. human rights committee in February criticised the "heavy-handed approach" of the security forces to the crisis, which saw medical facilities, schools and entire villages destroyed.
Jan Egeland, secretary general of the Norwegian Refugee Council (NRC), said the world had underestimated the impact on civilians of the violence that has gripped Cameroon, where entire villages had been burned to the ground.
"I've been all over the world, dealing with humanitarian work for many years and I was really shocked by the unbelievable extent of this emergency that is underestimated, underreported and neglected by the international community," said Egeland. "There are atrocities every single day against civilians ... and the world doesn't seem to know or want to know about it," he told the Thomson Reuters Foundation during a visit to Cameroon. Egeland said the violence had pushed tens of thousands into hiding in the bush without access to food or medical help, and meant nearly a million children could no longer go to school.
He said there was a danger the situation could worsen.
"I really, really hope there will be mediation efforts, that there will be an outreach and an interest in dialogue on both sides that will lead to talks which can end this before it is too late. I've seen too many places which started with a smaller conflict...and ended up in a war that no one could stop." Egeland said there had been little pressure on the parties to stop attacking civilians. "The international silence surrounding atrocities is as shocking as the untold stories are heart-breaking," he said.
Allegra Baiocchi, the U.N.'s humanitarian coordinator in Cameroon, said the violence was hampering relief efforts, and also blamed a lack of funding from other countries.
"The violence has been characterised by massive human rights violations. Attacks against schools and health providers have reached an alarming scale," she said. "Negotiating safe humanitarian access is extremely complicated and it is slowing us down."
http://news.trust.org/item/20190426111229-v0quw/
Boko Haram enters the 10th year of its insurgency and it remains formidable enough to abduct women and children at will, continuing "to prey on women and girls as spoils of war," Anietie Ewang, Nigeria country researcher at Human Rights Watch, said in a statement.
The violation of the rights of women and children paints a larger picture of human trafficking, forced marriages and enslavement in Nigeria which has the highest incidence of Africans being trafficked through the Sahara Desert and the Mediterranean Sea to Europe. The north and north eastern parts of the country, where Boko Haram is active, have high incidences of forced marriages, while across the country there are frequent cases of young girls being 'traded' as modern day slaves. According to UNICEF, 43 percent of girls in Nigeria are married off before they turn 18. Some of the lawmakers who voted against the bill cited such grounds as their religion which permitted underaged marriage.
Boko Haram is also involved in the kidnapping, trafficking and enslavement of children and women. Hundreds of women and children have been abducted since the group's insurgency started. But Boko Haram's most well-known abduction occurred in April 2014, when 276 female students were taken away from their dormitory at the Government Secondary School, Chibok, in Borno State.
A few months after the Chibok girls were abducted, Boko Haram's leader, Abubakar Shekau, said he would sell them. "I am the one who captured all those girls and I will sell all of them," he said in an online video in which he justified human slavery. "Slavery is allowed in my religion and I shall capture people and make them slaves."
Consequently there have been other mass abductions of children in the region since the Chibok incident. In March 2015, Boko Haram fighters abducted more than 300 children from Zanna Mobarti Primary School in Damasak; while 116 female students from the Government Girls Science and Technical College, in Dapchi, Yobe State, were abducted in February 2018 during an attack on the school.
"The way Boko Haram hold women and children against their will is by itself a form of slavery," Rotimi Olawale of the group Bring Back Our Girls (BBOG) tells IPS. Olawale says Boko Haram is also using captives, like the Chibok girls, as "valuable bargaining chips" to collect ransoms and secure the release of their members held in Nigerian prisons. While many of the Chibok girls are still missing five years after their abduction, others escaped or were released by Boko Haram in deals made with the Nigerian government. But 112 girls are reportedly still missing.
The United Nations Children's Fund (UNICEF) says that since 2012, non-state armed groups in north east Nigeria have recruited and used children as combatants and non-combatants, raped and forced girls to marry and committed other grave violations against children. Accounts by others who escaped from Boko Haram's captivity confirm this. Boko Haram members using captive girls as sex slaves. They freely go to where the girls are kept to pick them for sex.
Male children born through sexual slavery are being breed to be the new generation of Boko Haram fighters. Boko Haram's abduction of young persons are in part aimed at turning them into fighters. UNICEF says between 2013 and 2017 more than 3,500 children, most of whom were aged 13 to 17, were recruited by non-state armed groups who used them in the armed conflict in north east Nigeria. UNICEF says the true figures are likely to be higher because its figures are only of those cases that have been verified. Boko Haram is also known to train children to become suicide bombers. A UNICEF report in 2017, says between January and August of that year, 83 children, mainly girls, were used by Boko Haram as suicide bombers. The UN's children agency said this figure was four times higher than it was for 2016.
Africa's Untaxed Gold Rush
Billions of dollars' worth of gold is being smuggled out of Africa every year through the United Arab Emirates in the Middle East – a gateway to markets in Europe, the United States and beyond.
Customs data shows that the UAE imported $15.1 billion worth of gold from Africa in 2016, more than any other country and up from $1.3 billion in 2006. The total weight was 446 tonnes, in varying degrees of purity – up from 67 tonnes in 2006. Much of the gold was not recorded in the exports of African states.
African governments such as Ghana, Tanzania and Zambia complain that gold is now being illegally produced and smuggled out of their countries on a vast scale, sometimes by criminal operations, and often at a high human and environmental cost.
Five trade economists interviewed by Reuters said this indicates large amounts of gold are leaving Africa with no taxes being paid to the states that produce them. No-one can put an exact figure on the total value that is leaving Africa.
Miners, some of them working legally, typically sell the gold to middlemen. The middlemen either fly the gold out directly or trade it across Africa's porous borders, obscuring its origins before couriers carry it out of the continent, often in hand luggage. For example, Democratic Republic of Congo (DRC) is a major gold producer but one whose official exports amount to a fraction of its estimated production: Most is smuggled into neighbouring Uganda and Rwanda.
"It is of course worrisome for us but we have very little leverage to stop it," said Thierry Boliki, director of the CEEC, the Congolese government body that is meant to register, value and tax high-value minerals like gold.
In 2015, China – the world's biggest gold consumer – imported more gold from Africa than the UAE. But during 2016, the latest year for which data is available, the UAE imported almost double the value taken by China. With African gold imports worth $8.5 billion that year, China came a distant second. Switzerland, the world's gold refining hub, came third with $7.5 billion worth. Most of the gold is traded in Dubai, home to the UAE's gold industry. In all, it said it imported gold worth $3.9 billion – about 67 tonnes – more than those countries said they sent out.
"There is a lot of gold leaving Africa without being captured in our records," said Frank Mugyenyi, a senior adviser on industrial development at the African Union who set up the organisation's minerals unit. "UAE is cashing in on the unregulated environment in Africa."
https://www.reuters.com/investigates/special-report/gold-africa-smuggling/
Boom economy in Ghana
Ghana's economy is skyrocketing. That is what the World Bank and the International Monetary Fund (IMF) predict for this year. The IMF talks of a growth rate of 8.8% in its World Economic Outlook, which would make Ghana the fastest growing economy in the world in 2019.
Last year, the country's economy only grew by 5.6%, putting it in sixth position.
Adu Owusu Sarkodie from the University of Ghana believes the main source of growth is the oil sector. "We have discovered new oil fields [.....] companies have started operating, they have intensified their operations," he said in an interview with DW. In the list of top African countries growing economically, Ghana is closely followed by its neighbor Ivory Coast with 7.5%, and Ethiopia with 7.7%. It is interesting that the growth rate from 2018 to 2020 of those two countries appears to be consistent, while Ghana's growth is predicted to decline again in 2020. For Africa's number one growth state, Ghana, oil is not the only factor driving the economy. "The non-oil sectors, agriculture, manufacturing and services, they are also picking up. Now they are all growing positively," Sarkodie said.
Ghana is the world's second biggest producer of cocoa, which is probably also a reason why the West African country is the continent's and the world's leader when it comes to increased economic strength. But unlike the agricultural sector, where a lot of Ghanaians are playing a role, investments in the mining and oil sectors have been largely foreign led. According to Sarkodie, this is a problem, even though these investments have a long term effect.
"My major concern has to do with the source of growth," he told DW. "The GDP is a domestic product, it doesn't matter what is produced by foreigners or Ghanaians. But we know that in Ghana most of our companies are foreign owned." This means, Sarkodie says, that "the impact on Ghanaian lives will be minimal."
The agriculture sector has received a major boost over the past two years, thanks to a strong focus by policy-makers on food and jobs. For example, 200,000 farmers received improved seeds and fertilizers. The sector remains a major backbone of Ghana's economy. According to Agriculture Minister Owusu Afriyie Akoto, the program has led to a good harvest across the country. "We are expecting a bumper crop because of the impact that this great program has had on agriculture, even in its infancy," he said.
"I think this is more a one-off,", Papa Ndiaye, Head of the Regional Studies Devision at the IMF's African Department, told DW. "We don't expect this growth rate (of 8.8%) to be sustained over the medium term. And when you look at it per capita, that is still smaller than what countries like China have experienced in the past." Ndiaye confirmed that Ghana's economic growth is expected to slow to a level of around 4.5% to 5%.
Angola comes in last on the list of African countries, with a predicted economic growth of just 0.4%. Last year it suffered a decline of 1.7%. South Africa is also far behind, with an expected growth rate of only 1.2%, an increase of 0.4% on 2018. Third from last is oil giant Nigeria, with a growth rate of 2.1%.
"These countries have been hit very hard by the decline in commodity prices," Ndiaye said. "You have to go back to the 1970s to find something of similar magnitude. These countries are now slowly recovering but it will take some time. It also requires countries to implement reforms to diversify the economy and to boost private sector activity by removing some of the constraints that are the biggest impediments to growth, as well as restoring a better business environment."
The IMF divides the 46 listed countries into three groups: oil exporters, middle-income countries and low-income countries. The group of oil exporters, with a growth rate of 2.0%, is doing less well than middle-income countries with 3.4% and low-income countries with 5.3%, a trend that could already be seen in 2018. In total, sub-Saharan African can register GDP growth of 3.5%. What makes this year's prediction so interesting for Africa is that it is an African nation that seems to be the economic front-runner, ahead of international heavyweights like China or India.
https://www.dw.com/en/imf-world-economic-outlook-puts-ghana-in-the-lead/a-48356052
South Africa's Forgotten Townships
The governing African National Congress (ANC), which faces mounting public anger over its failure to improve the lives of millions of the poorest citizens, 25 years after the end of white minority rule.
Johannesburg township, Alexandra, has seen protests against overcrowding and poor public services in the run-up to a general election on May 8.
Alexandra residents say a government project to develop the township, launched to much fanfare in 2001, has barely scratched the surface of what needs to be done. A model of how Alexandra was meant to look once the project was completed - with parks interspersed between neat rows of houses - now gathers dust in a children's library. High-profile politicians stop by Alexandra before elections, but residents say that, when the votes are counted, the visits dry up. Neither the DA nor the ANC could tell Reuters how much money provincial and local government had spent on the Alexandra Renewal Project.
Johanna Ditsela explained, "I normally vote, but the ANC is not doing anything for me, honestly. I need a job, and I need a house for my kids so that I can raise them in a dignified way."
The ANC is expected to win another parliamentary majority next month, but analysts say its share of the vote will probably fall from the 62 percent it received in 2014. if turnout is low, it could lose control of Johannesburg's Gauteng province.
http://news.trust.org/item/20190411182717-xsizr/
Climate Change Affects Ethiopia Now
Africa's Poverty and its Chinese Debt
A New Arab Spring?
SA's Left in a Mess
Migrant Myths
There is hunger in Kenya yet there is food
South Sudan's Pain Continues
Africa's Debt Problem
Is It Funny? (1958)


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    onChange === null || onChange === void 0 ? void 0 : onChange(newValue);
    if (closeOnChange && newValue !== null && newValue !== void 0 && newValue[1] && newValue[1] !== (value === null || value === void 0 ? void 0 : value[1])) {
      removeFocusFromField();
    }
  }, [onChange, closeOnChange, value, removeFocusFromField]);
  return (0, _jsxRuntime.createScopedElement)(_FormField.FormField, (0, _extends2.default)({
    vkuiClass: (0, _classNames.classNames)("DateRangeInput", "DateRangeInput--sizeY-".concat(sizeY)),
    style: style,
    className: className,
    getRootRef: (0, _utils.multiRef)(rootRef, getRootRef),
    after: value ? (0, _jsxRuntime.createScopedElement)(_IconButton.IconButton, {
      hoverMode: "opacity",
      "aria-label": clearFieldAriaLabel,
      onClick: clear
    }, (0, _jsxRuntime.createScopedElement)(_icons.Icon16Clear, null)) : (0, _jsxRuntime.createScopedElement)(_IconButton.IconButton, {
      hoverMode: "opacity",
      "aria-label": showCalendarAriaLabel,
      onClick: openCalendar
    }, (0, _jsxRuntime.createScopedElement)(_icons.Icon20CalendarOutline, null)),
    disabled: disabled,
    onClick: (0, _callMultiple.callMultiple)(handleFieldEnter, onClick),
    onFocus: (0, _callMultiple.callMultiple)(handleFieldEnter, onFocus)
  }, props), (0, _jsxRuntime.createScopedElement)("input", {
    type: "hidden",
    name: name,
    value: value ? "".concat(value[0] ? (0, _date.format)(value[0], "DD.MM.YYYY") : "", " - ").concat(value[1] ? (0, _date.format)(value[1], "DD.MM.YYYY") : "") : ""
  }), (0, _jsxRuntime.createScopedElement)("span", {
    vkuiClass: "DateInput__input",
    onKeyDown: handleKeyDown
  }, (0, _jsxRuntime.createScopedElement)(_InputLike.InputLike, {
    length: 2,
    getRootRef: daysStartRef,
    index: 0,
    onElementSelect: setFocusedElement,
    value: internalValue[0],
    "aria-label": changeStartDayAriaLabel
  }), (0, _jsxRuntime.createScopedElement)(_InputLikeDivider.InputLikeDivider, null, "."), (0, _jsxRuntime.createScopedElement)(_InputLike.InputLike, {
    length: 2,
    getRootRef: monthsStartRef,
    index: 1,
    onElementSelect: setFocusedElement,
    value: internalValue[1],
    "aria-label": changeStartMonthAriaLabel
  }), (0, _jsxRuntime.createScopedElement)(_InputLikeDivider.InputLikeDivider, null, "."), (0, _jsxRuntime.createScopedElement)(_InputLike.InputLike, {
    length: 4,
    getRootRef: yearsStartRef,
    index: 2,
    onElementSelect: setFocusedElement,
    value: internalValue[2],
    "aria-label": changeStartYearAriaLabel
  }), (0, _jsxRuntime.createScopedElement)(_InputLikeDivider.InputLikeDivider, null, " — "), (0, _jsxRuntime.createScopedElement)(_InputLike.InputLike, {
    length: 2,
    getRootRef: daysEndRef,
    index: 3,
    onElementSelect: setFocusedElement,
    value: internalValue[3],
    "aria-label": changeEndDayAriaLabel
  }), (0, _jsxRuntime.createScopedElement)(_InputLikeDivider.InputLikeDivider, null, "."), (0, _jsxRuntime.createScopedElement)(_InputLike.InputLike, {
    length: 2,
    getRootRef: monthsEndRef,
    index: 4,
    onElementSelect: setFocusedElement,
    value: internalValue[4],
    "aria-label": changeEndMonthAriaLabel
  }), (0, _jsxRuntime.createScopedElement)(_InputLikeDivider.InputLikeDivider, null, "."), (0, _jsxRuntime.createScopedElement)(_InputLike.InputLike, {
    length: 4,
    getRootRef: yearsEndRef,
    index: 5,
    onElementSelect: setFocusedElement,
    value: internalValue[5],
    "aria-label": changeEndYearAriaLabel
  })), open && !disableCalendar && (0, _jsxRuntime.createScopedElement)(_Popper.Popper, {
    targetRef: rootRef,
    offsetDistance: 8,
    placement: calendarPlacement
  }, (0, _jsxRuntime.createScopedElement)(_CalendarRange.CalendarRange, {
    value: value,
    onChange: onCalendarChange,
    disablePast: disablePast,
    disableFuture: disableFuture,
    shouldDisableDate: shouldDisableDate,
    onClose: closeCalendar,
    getRootRef: calendarRef,
    disablePickers: disablePickers,
    prevMonthAriaLabel: prevMonthAriaLabel,
    nextMonthAriaLabel: nextMonthAriaLabel,
    changeMonthAriaLabel: changeMonthAriaLabel,
    changeYearAriaLabel: changeYearAriaLabel,
    changeDayAriaLabel: changeDayAriaLabel,
    prevMonthIcon: prevMonthIcon,
    nextMonthIcon: nextMonthIcon
  })));
};
exports.DateRangeInput = DateRangeInput;
//# sourceMappingURL=DateRangeInput.js.map

redpajama_set_name: RedPajamaGithub


It was Team USA vs. Team Europe in the 35th Ryder Cup, one of the last great sporting events founded on prestige, rather than prize money. The Matches, held at Oakland Hills C.C. in Bloomfield, Michigan, proved a formidable test of skill for the finest golfers on the planet. To mark this event Scotty created the 2004 Ryder Cup headcover. It features 12 American Flags and 12 European Union Flags, meticulously embroidered in honor of the 24 sportsmen that made up both teams.


As a kid I grew up seeing coffins being spray-painted in our backyard and my younger siblings playing hide and seek inside these. When typhoon comes these coffins are placed inside our living room and we have lots of barrels of formalin stored too. I somehow got used to getting a chuckle or a quick laugh whenever I would mention what my dad does for a living.
Papa never liked school when he was young. He would cut classes and eventually became friends with some guys in the funeral parlor back home. This is how he got into this business. I am used to waking up from loud door knocks in the middle of the night or early mornings from people whom their loved ones just died. Papa never mind though be woke up anytime because this means money to him and food for us.
He is by the way a fully licensed embalmer who passed all the accreditation & sanitation examinations from Department of Health and have all the requirements of the local government to conduct this business legally. His income he gets from this was enough to feed us and send us to school.
We are one big happy family until he becomes unstoppable in drinking liquors, smoking cigarettes and womanizing. Mama and Papa would always have fight when he is drunk. I have seen her hurt so much and cry countless times that at one point I said "I am never gonna marry a man like this!" When Mama positively confirmed he was having an affair with another woman she left us for several months. This was one of our darkest hours as a family. Papa searched for her. Mama can't stand living without her children so she went back.Well Papa stopped seeing the woman but his addiction to liquor is not.
Since I started working in Manila my visits to home becomes very rare. During my visits I would see Papa getting thinner and thinner. I said to him what I noticed about his physique and that he needs to workout if he still wants to see his future grandchildren. His answer is always a smile.
Then he was diagnosed having a prostate cancer stage 2. When he first heard about it he don't want to believe thinking it was a wrong diagnosis. Even the rest of the family we "underestimated" what is the meaning of cancer. He need to undergo a major operation SOON which he DECLINED. Imagine a man who has been embalming for 25 years: bisecting a dead body from the neck to the navel, taking out all the organs and blood then replacing all the fluid in the body with formalin is so afraid for this clinical operation when his occupation may have given him so much chances to realize how volatile a life is.
He sorted to herbal doctors and organic way of healing instead. He also learned to attend mass and visit our adoration chapel to pray. He was also able to go to confession in front of a priest few months before he died and Mama said the last one he did this was when they got married. But still we would see him sneak out and light a cigarette or see him a bit drunk. He said he just have to mingle with friends.
Three days before he died, I called him through my mobile phone for 40 minutes. He was so unusually happy for talking to me and was sharing his plans. He said "Gusto ko nang magsimulang muli" or "I want to start all over again". That he wanted to do this and that with my mom. He was like a newly wed groom dreaming what will be life with his bride. Then he cried. For the first time I heard him cry in my whole life! I got dumbed. I don't know what to say. I just let him cry and hear him talk.
On that very day I was at work. Mama texted they brought him to the hospital because he was feeling so bad. Worst if not. I texted back and told her I will take the earliest flight tomorrow. After a few hours Mama did not replied but my brothers did. "Minatay na si Papa". Papa died. It has been more than two years since he passed away and somehow we already "moved on" because we need to. So this is the story of a man who at one point in my life I said "I will never gonna marry someone like him".


text:
Category: Basic Materials
Rig Counts Declined Last Week!
Baker Hughes reports U.S. rig count down 4 to 983 rigs
Rig Counts Declined in the U.S. and Canada, Stockwinners
Baker Hughes (BHGE) reports that the U.S. rig count is down 4 rigs from last week to 983, with oil rigs down 5 to 797, gas rigs up 1 to 186, and miscellaneous rigs unchanged at 0.
The U.S. Rig Count is down 76 rigs from last year's count of 1,059, with oil rigs down 62, gas rigs down 12, and miscellaneous rigs down 2.
The U.S. Offshore Rig Count is unchanged at 22 and up 3 rigs year-over-year.
The Canada Rig Count is up 15 rigs from last week to 78, with oil rigs up 16 to 38 and gas rigs down 1 to 40.
The Canada Rig Count is down 3 rigs from last year's count of 81, with oil rigs up 3 and gas rigs down 6.
The Baker Hughes rig count is an important business barometer for the oil drilling industry. When drilling rigs are active they consume products and services produced by the oil service industry. The active rig count acts as a leading indicator of demand for oil products.
Crude oil is up 40 cents to $58.30 per barrel. Brent crude is up 57 cents to $68.33 per barrel.
Note that crude oil is rebounding from its 100-day moving average. The Commodity topped around $66 per barrel in the Spring.
Rig counts rise in March
Baker Hughes announces March international rig count of 1,039, up 12
The international offshore rig count rises in March, Stockwinners
Baker Hughes (BHGE) announced that the Baker Hughes international rig count for March 2019 was 1,039, up 12 from the 1,027 counted in February 2019, and up 67 from the 972 counted in March 2018.
The international offshore rig count for March 2019 was 247, down 3 from the 250 counted in February 2019, and up 62 from the 185 counted in February 2018.
The average U.S. rig count for March 2019 was 1,023, down 26 from the 1,049 counted in February 2019, and up 34 from the 989 counted in March 2018.
The average Canadian rig count for March 2019 was 151, down 79 from the 230 counted in February 2019, and down 67 from the 218 counted in March 2018.
The worldwide rig count for March 2019 was 2,213, down 93 from the 2,306 counted in February 2019, and up 34 from the 2,179 counted in March 2018.
Crude oil is up 2 cents to $62.12 per barrel.
Rig counts rise!
Baker Hughes reports U.S. rig count up 2 to 1,051 rigs
The U.S. rig count rises to 1,051
Baker Hughes (BHGE) reports that the U.S. rig count is up 2 rigs from last week to 1,051 rigs, with oil rigs up 3 to 857 and gas rigs down 1 to 194.
The U.S. Rig Count is up 76 rigs from last year's count of 975, with oil rigs up 59 and gas rigs up 17.
The U.S. Offshore Rig Count is up 2 rigs to 21 and up 3 rigs year-over-year.
The Canada Rig Count is down 16 rigs from last week to 224, with oil rigs down 6 to 152 and gas rigs down 10 to 72.
The Canada Rig Count is down 94 rigs from last year's count of 318, with oil rigs down 66 and gas rigs down 28.
USO is up 12 cents to $11.60.
EQGP Holdings sold for $20.00 per share
Equitrans Midstream to acquire EQGP Holdings for $20.00 per unit in cash
Equitrans Midstream Corporation (ETRN) announced that it has entered into definitive purchase agreements with certain unitholders of EQGP Holdings (EQGP) to acquire limited partner interests in EQGP for $20.00 per unit in cash, which is a 17.5% premium to the EQGP closing market price as of November 29, 2018.
The Private Purchases are expected to close on or about December 31, 2018, after which ETRN and its affiliates will own more than 95% of the outstanding EQGP Common Units. Upon closing of the Private Purchases, ETRN intends to exercise the Limited Call Right under EQGP's partnership agreement to acquire all remaining EQGP Common Units not then owned by ETRN and its affiliates.
If the Limited Call Right is exercised, the remaining holders of EQGP Common Units will receive at least the same cash price per unit that will be paid in the Private Purchases.
The Limited Call Right is expected to close in January 2019 and will be a taxable transaction for EQGP unitholders.
ETRN intends to use the cash proceeds from a newly issued Term Loan B to finance the Private Purchases and the purchases pursuant to the Limited Call Right.
ETRN has secured committed financing in support of these purchases. ETRN also announced that it has made a proposal to EQM Midstream Partners (EQM) for the exchange of its incentive distribution rights and the economic general partner interest in EQM for 95 million units in EQM and a non-economic general partner interest in EQM, subject to the closing of the Private Purchases and completion of the Limited Call Right.
ETRN expects that a portion of the units received will be in the form of Payment-In-Kind Units.
The PIK Units would receive distributions in the form of additional PIK Units and would convert on a one-to-one basis into common units representing limited partner interests in EQM at a date to be determined.
Final terms of the Proposed IDR Transaction are subject to negotiation with the board of directors of EQM's general partner or its conflicts committee, and assuming an agreement is reached, ETRN expects that the Proposed IDR Transaction would close in the first quarter of 2019.
Upon completion of the Private Purchases, the Limited Call Right, and the Proposed IDR Transaction, ETRN will have accomplished a full simplification of EQGP and EQM, resulting in a projected 61% ownership of EQM.
Additionally, EQM will be the only publicly traded partnership under ETRN and is expected to benefit from the elimination of the IDR burden, as well as stronger coverage and balance sheet metrics.
Highlights: The proposed transactions would not result in a distribution cut for EQM unitholders; Targeting 6% – 8% annual distribution growth beginning in 2019; 2019 distribution coverage in excess of 1.0x; Long-term distribution coverage target in excess of 1.2x beginning in 2020; Long-term debt to EBITDA target of 3.5x – 4.0x beginning in 2020; PIK Units will provide balance sheet and coverage support; Improves cost of capital; No equity issuance is required to fund capital projects for the next several years; Reduces corporate overhead associated with the elimination of a publicly traded entity.
ETRN expects that the EQM Conflicts Committee will review the Proposed IDR Transaction. Unitholder voting is not required in connection with the Private Purchases, the exercise of the Limited Call Right, or the Proposed IDR Transaction.
WildHorse Resource sold for $3.977 billion
Chesapeake to buy WildHorse Resource in $3.977B cash and stock deal
WildHorse Resource sold for $3.977 billion, Stockwinners
Chesapeake Energy (CHK) and WildHorse Resource Development (WRD) today jointly announced that Chesapeake has entered into a definitive agreement to acquire WildHorse, an oil and gas company with operations in the Eagle Ford Shale and Austin Chalk formations in southeast Texas, in a transaction valued at approximately $3.977B, based on yesterday's closing price, including the value of WildHorse's net debt of $930M as of June 30, 2018.
At the election of each WildHorse common shareholder, the consideration will consist of either 5.989 shares of Chesapeake common stock or a combination of 5.336 shares of Chesapeake common stock and $3 in cash, in exchange for each share of WildHorse common stock.
The transaction was unanimously approved by the Board of Directors of each company.
The deal is projected to double adjusted oil production by 2020 from stand-alone adjusted 2018 estimates, increasing to a projected range of 125,000 to 130,000 barrels of oil per day in 2019, and 160,000 to 170,000 bbls of oil per day in 2020; Chesapeake's 2020 projected adjusted oil production mix is expected to increase to approximately 30% of total production, compared to approximately 19% today; Increases projected EBITDA per barrel of oil equivalent margin by approximately 35% in 2019 and by approximately 50% in 2020, based on current strip prices; $200M-$280M in projected average annual savings, totaling $1B-$1.5B by 2023, due to operational and capital efficiencies as a result of Chesapeake's significant expertise with unconventional assets and technical and operational excellence; incremental savings through elimination of redundant corporate overhead, gathering, processing and transmission synergies and improved capital markets execution due to improved credit metrics.
Upon closing, Chesapeake shareholders will own approximately 55% of the combined company, and WildHorse shareholders will own approximately 45%, depending on the consideration elected.
Chesapeake expects to finance the cash portion of the WildHorse acquisition, which is expected to be between $275M and approximately $400M, through its revolving credit facility.
The transaction, which is subject to shareholder approvals from both companies and customary closing conditions and regulatory approvals, is expected to close in the first half of 2019.
Peoples Natural Gas sold for $4.28 billion
Aqua America to acquire Peoples in all-cash transaction for $4.28B
Peoples Natural Gas sold for $4.28 billion, Stockwinners
Aqua America (WTR) announced it will acquire Peoples in an all-cash transaction that reflects an enterprise value of $4.275B, which includes the assumption of approximately $1.3B of debt.
This acquisition marks the creation of a new infrastructure company that will be uniquely positioned to have a powerful impact on improving the nation's infrastructure reliability, quality of life and economic prosperity.
Peoples consists of Peoples Natural Gas Company LLC, Peoples Gas Company LLC and Delta Natural Gas Company Inc.
The multi-platform entity brings together the second-largest U.S. water utility and fifth-largest U.S. stand-alone natural gas local distribution company and will serve 1.74 million customer connections, which represent approximately 5 million people.
In 2019, the new company will have approximately $10.8 billion in assets and a projected U.S. regulated rate base of over $7.2 billion.
The transaction is not expected to have any impact on rates.
The combined enterprise will be among the largest publicly traded water utilities and natural gas local distribution companies in the U.S., uniquely positioned to meaningfully contribute to the nation's natural gas and water infrastructure reliability.
The transaction will bring together two companies that each have more than 130 years of service and proven track records of operational efficiency, complementary service territories and strong regulatory compliance.
Aqua will acquire Peoples from infrastructure funds managed by Sausalito, California-based SteelRiver Infrastructure Partners.
The resulting company will be well positioned to grow and generate shareholder value through increased scale, a balanced portfolio and stable capital structure.
Canary in the mine, Homebuilders
Homebuilders continue tumble as Credit Suisse downgrades several in space
Homebuilder shares tumble; Stockwinners
Many believe that housing market is the engine of the economy. If that is the case, we should expect a slow down in the economy. Housing prices have always been one of the first indicators of a slowdown or a coming out of a recession for the economy. We should brace ourselves for lower home prices!
Shares of homebuilders continued their decline after an analyst at Credit Suisse downgraded several companies in the space, saying that she expects more tempered demand and rising affordability concerns to weigh on homebuilding sentiment and broader group valuation, offsetting any near-term earnings beats.
A different analyst at the firm downgraded home improvement retailers Home Depot (HD) and Lowe's (LOW) this morning, due to his concern that their recent results and stock prices have disconnected from housing.
HOMEBUILDERS DOWNGRADED
Credit Suisse analyst Susan Maklari told investors in a research note this morning that although she believes housing and macro fundamentals remain "intact," including high consumer confidence and sustained low unemployment, unit gains are likely to moderate.
She sees any near-term earnings beats to be offset by even more tempered demand and rising affordability concerns. She sees average order growth for 2019 of 8%, compared to 11% in 2018 and 12% in 2017, and sees "relative" outperformance from builders who are able to capture above-trend gains due to product mix, like D.R. Horton (DHI), and geographic positioning, like PulteGroup (PHM). Maklari downgraded Lennar (LEN) and Meritage Homes (MTH) to Neutral from Outperform and lowered her respective price targets for the shares to $45 from $55 and to $36 from $50.
The analyst sees more limited upside to Lennar looking ahead as its strategic initiatives, as well as geographic exposure, are reflected in its current valuation.
While Meritage has benefited from efforts to drive improvements in operations in its East region as well as the rollout of its entry level targeted homes, Maklari believes much of the initial gains have been captured and she expects limited upside to the current valuation as comparisons become more difficult.
The analyst also downgraded KB Home (KBH) to Underperform from Neutral and lowered her price target to $18 from $27, saying that over the last several months her channel checks and Realtor Survey have pointed to slowing demand in higher cost MSAs, including California, which accounted for about 50% of the company's 2017 revenues.
HOME DEPOT, LOWE'S ALSO DOWNGRADED
Another analyst at Credit Suisse, Seth Sigman, this morning downgraded Home Depot and Lowe's, both to Neutral from Outperform, citing his concern that their recent results and stock prices have disconnected from housing. In a research note of his own, Sigman said his key concern is that home prices will continue to moderate, at least temporarily, as higher rates weigh on affordability.
Overall, Sigman still sees EPS growing, but sees less upside over the next 12 months relative to current estimates.
The analyst continues to view Home Depot as best-in-class in retail, but struggles to find multiple upside from its current premium level as housing sentiment shifts and some uncertainty arises. While he continues to expect meaningful improvement in sales and operating profit at Lowe's under new CEO Marvin Ellison, Sigman thinks consensus estimates are baking that in. The analyst cut his price target on Home Depot to $204 from $222 and on Lowe's to $111 from $115.
Shares of Lennar dropped 3%, while Meritage Homes dropped 6.6% and KB Home declined 4.4%. Other homebuilders were dragged lower, including D.R. Horton, PulteGroup and Toll Brothers (TOL), which are all down over 3%.
Additionally, Home Depot and Lowe's both declined over 4%. Further, XHB, the homebuilding ETF, is down nearly 3% today and about 10% month-to-date.
GE fires CEO, Shares rise
GE shares jump after CEO Flannery ousted amid Power unit challenges
Shares of GE (GE) are rising in pre-market trading after the shrinking conglomerate announced that H. Lawrence Culp, Jr. has been named Chairman and CEO, replacing John Flannery, effective immediately.
POWER WRITE-OFF
The company stated that while its businesses other than Power are "generally performing consistently with previous guidance," the company will fall short of previously indicated guidance for free cash flow and EPS for 2018 due to weaker performance in the GE Power business.
GE expects to take a non-cash goodwill impairment charge related to the GE Power business that will likely be as much as the approximately $23B current goodwill balance for the business, GE added.
GE previously forecast FY18 EPS at the low end of its $1.00-$1.07 range. The current EPS consensus is 95c.
RECENT ANALYST CONCERNS
In a recent note to investors, RBC Capital analyst Deane Dray lowered his price target on GE shares to $13 from $15, stating that the company had yet to reach a point where bad news does not make the stock decline and arguing that the bottom had not yet been reached.
Last month, JPMorgan analyst Stephen Tusa lowered his price target for General Electric to $10 from $11 and kept an Underweight rating on the shares.
The analyst's channel checks, which were confirmed by GE Power's CEO, GE investor relations, suggested GE had experienced a failure in a first stage blade on an H-frame in one of its two initial marquee installations in the U.S., Colorado Bend. Further, Tusa said the problem was material enough for Exelon (EXC) to have shut the plant down, along with the "award winning" Wolf Hollow plant for precautionary measures.
There should no longer be any doubt that GE Power has company-specific issues, Tusa contended at the time, stating that his new price target assumed weaker results at GE Power and some franchise value impact.
In Monday's pre-market trading, GE shares are up $1.53, or 13.5%, to $12.82.
General Mills North America sales decline
General Mills plunges after reporting North America sales decline
General Mills North America sales decline, Stockwinners
Shares of General Mills (GIS) sunk in late morning trading after the company reported quarterly results, including net sales for its North America Retail segment that fell 2% from the year-ago period.
QUARTERLY RESULTS AND GUIDANCE
General Mills reported first quarter adjusted earnings per share of 71c, beating analysts' consensus estimates of 63c, while sales of $4.1B were essentially in line with the consensus forecast.
However, the company said net sales in North America, its biggest region, fell 2% to $2.39B, with net sales down 4% in U.S. Snacks and down 2% each in U.S. Meals & Baking and U.S. Yogurt.
General Mills said its pet-food division reported sales of $343.4M, up 14% on a pro forma basis. General Mills acquired Blue Buffalo earlier this year for $8B, and said its net interest expense was $134M in the quarter, primarily driven by financing related to the acquisition.
Looking ahead, General Mills reaffirmed fiscal 2019 targets, including adjusted EPS flat to down 3% from the base $3.11 earned in fiscal 2018, organic net sales flat to up 1%, net sales up 9%-10% including the impact of the Blue Buffalo deal and constant currency adjusted operating profit up 6%-9% from the base of $2.6B reported in FY18.
EXECUTIVE COMMENTARY
In a statement, Chairman and Chief Executive Officer Jeff Harmening commented that FY19 is "off to a good start" and said the Blue Buffalo transition is "progressing well."
General Mills expects double-digit top and bottom-line growth for the Blue Buffalo business this year, excluding acquisition-related charges. On its quarterly earnings conference call, CFO Donal Mulligan said he expects price/mix to improve as the year unfolds, and that operating margins will be down "somewhat" for the year.
He also thinks there will be "a little bit more pressure" on gross margin from where the company originally expected.
For the year, General Mills expects input cost inflation will be 5% of cost of goods, one point above FY18 levels.
Peers trading lower on Tuesday include Kraft Heinz (KHC), Campbell Soup (CPB) and J.M. Smucker (SJM).
Ocean Rig sold for $2.7B
Transocean to acquire Ocean Rig for $2.7B including debt
Ocean Rig sold for $2.7B, Stockwinners
Transocean (RIG) and Ocean Rig UDW Inc. (ORIG) announced that they have entered into a definitive merger agreement under which Transocean will acquire Ocean Rig in a cash and stock transaction valued at approximately $2.7B, inclusive of Ocean Rig's net debt..
The transaction consideration is comprised of 1.6128 newly issued shares of Transocean plus $12.75 in cash for each share of Ocean Rig's common stock, for a total implied value of $32.28 per Ocean Rig share, based on the closing price on August 31, 2018.
This represents a 20.4% premium to Ocean Rig's ten-day volume weighted average share price.
The transaction has been unanimously approved by the board of directors of each company.
Transocean intends to fund the cash portion of the transaction consideration through a combination of cash on hand and fully committed financing provided by Citi.
The merger is not subject to any financing condition. Upon completion of the merger, Transocean's and Ocean Rig's shareholders will own approximately 79% and approximately 21%, respectively, of the combined company.
No changes to Transocean's board of directors, executive management team, or corporate structure are anticipated as a result of the acquisition.
The Company will remain headquartered in Steinhausen, Switzerland, with significant operating presence in Houston, Texas, Aberdeen, Scotland and Stavanger, Norway.
The transaction, which is expected to be completed during the first quarter of 2019, is subject to the approval of both Transocean and Ocean Rig shareholders and the satisfaction of customary closing conditions, including applicable regulatory approvals.
The merger is not subject to any financing condition.
Also, consistent with the Company's strategy of recycling less competitive rigs, Transocean will retire two of its floaters, the ultra-deepwater drillship C.R. Luigs and the midwater floater Songa Delta.
The rigs will be classified as held for sale and will be recycled in an environmentally responsible manner. Both floaters are currently stacked.
Transocean anticipates re-ranking the combined fleet, which may result in additional rigs being recycled.
Tariffs kill jobs
European Union raises tariffs on Harley-Davidson to 31% from 6%
Harley-Davidson to move productions overseas to avoid tariffs
Harley-Davidson moves some productions out of U.S., Stockwinners
The European Union has enacted tariffs on various U.S.-manufactured products, including Harley-Davidson motorcycles (HOG).
These tariffs, which became effective June 22, 2018, were imposed in response to the tariffs the U.S. imposed on steel and aluminum exported from the EU to the U.S. Consequently, EU tariffs on Harley-Davidson motorcycles exported from the U.S. have increased from 6% to 31%.
Harley-Davidson expects these tariffs will result in an incremental cost of approximately $2,200 per average motorcycle exported from the U.S. to the EU.
Harley-Davidson believes the tremendous cost increase, if passed onto its dealers and retail customers, would have an immediate and lasting detrimental impact to its business in the region, reducing customer access to Harley-Davidson products and negatively impacting the sustainability of its dealers' businesses.
Therefore, Harley-Davidson will not raise its manufacturer's suggested retail prices or wholesale prices to its dealers to cover the costs of the retaliatory tariffs. In the near-term, the company will bear the significant impact resulting from these tariffs, and the company estimates the incremental cost for the remainder of 2018 to be approximately $30M-$45M.
On a full-year basis, the company estimates the aggregate annual impact due to the EU tariffs to be approximately $90M-$100M.
To address the substantial cost of this tariff burden long-term, Harley-Davidson will be implementing a plan to shift production of motorcycles for EU destinations from the U.S. to its international facilities to avoid the tariff burden. Harley-Davidson expects ramping-up production in international plants will require incremental investment and could take at least 9 to 18 months to be fully complete.
Harley-Davidson maintains a strong commitment to U.S.-based manufacturing which is valued by riders globally.
Increasing international production to alleviate the EU tariff burden is not the company's preference, but represents the only sustainable option to make its motorcycles accessible to customers in the EU and maintain a viable business in Europe. Europe is a critical market for Harley-Davidson.
In 2017, nearly 40,000 riders bought new Harley-Davidson motorcycles in Europe, and the revenue generated from the EU countries is second only to the U.S.
Harley didn't specify which international plants will boost output for EU markets. The company operates manufacturing facilities in Brazil, India and Australia, and is beginning production in Thailand this year.
HOG closed at $44.21, it last traded at $42.50.
Carbon-free aluminum smelting process now a reality
Alcoa, Rio Tinto, Apple announce 'world's first' carbon-free aluminum smelting process
carbon-free aluminum smelting process;
Alcoa (AA) and Rio Tinto (RIO) announced what the companies called "a revolutionary process to make aluminum that produces oxygen and eliminates all direct greenhouse gas emissions from the traditional smelting process."
carbon-free aluminum smelting process, Stockwinners
To advance larger scale development and commercialization of the new process, Alcoa and Rio Tinto are forming Elysis, a joint venture company to further develop the new process with a technology package planned for sale beginning in 2024.
Apple (AAPL) is also investing in the venture. Apple said that its involvement with the new process started in 2015, when Apple engineers came across the new technology at Alcoa in Pittsburgh when looking for a cleaner way to mass-produce aluminum. They were able to get Rio Tinto on board, and three years later, the three companies have formed a joint venture.
Elysis, which will be headquartered in Montreal with a research facility in Quebec's Saguenay-Lac-Saint-Jean region, will develop and license the technology so it can be used to retrofit existing smelters or build new facilities. Canada and Quebec are each investing C$60M in Elysis.
The provincial government of Quebec will have a 3.5% equity stake in the joint venture with the remaining ownership split evenly between Alcoa and Rio Tinto. Apple is providing an investment of C$13M.
The company helped facilitate the collaboration between Alcoa and Rio Tinto on the carbon-free smelting process, and Apple has agreed to provide technical support to the JV partners.
Aluminum has been mass produced the same way since 1886, when it was pioneered by Alcoa's founder, Charles Hall. The process involves applying a strong electrical current to alumina, which removes oxygen. Both Hall's original experiments and today's largest smelters use a carbon material that burns during the process, producing greenhouse gases.
Alcoa and Rio Tinto will invest C$55M cash over the next three years and contribute specific intellectual property and patents.
The patent-protected technology, developed by Alcoa, is currently producing metal at the Alcoa Technical Center, near Pittsburgh in the United States, where the process has been operating at different scales since 2009.
The joint venture intends to invest up to C$40M in the United States, which would include funding to support the supply chain for the proprietary anode and cathode materials.
International rig count rises in April
Baker Hughes reports April international rig count 978, up 6 rigs from March
Rig Counts Rise – See Stockwinners.com Market Radar to read more
Baker Hughes (BHGE) announced that the Baker Hughes international rig count for April 2018 was 978, up 6 from the 972 counted in March 2018, and up 22 from the 956 counted in April 2017.
The international offshore rig count for April 2018 was 194 up 6 from the 185 counted in March 2018, and down 7 from the 201 counted in April 2017.
The average U.S. rig count for April 2018 was 1,011, up 22 from the 989 counted in March 2018, and up 158 from the 853 counted in April 2017.
The international offshore rig count for April 2018 was 194.
The average Canadian rig count for April 2018 was 98, down 120 from the 218 counted in March 2018, and down 10 from the 108 counted in April 2017.
The worldwide rig count for April 2018 was 2,087, down 92 from the 2,279 counted in March 2018, and up 170 from the 1,917 counted in April 2017.
Baker Hughes, a GE company provides integrated oilfield products, services, and digital solutions worldwide. Its Oilfield Services segment offers drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, completions tools and systems, wellbore intervention tools and services, artificial lift systems, pressure pumping systems, and oilfield and industrial chemicals for integrated oil and natural gas, and oilfield service companies for onshore and offshore operations.
Newell Brands sells its Waddington Group for $2.3B
Newell Brands to sell The Waddington Group to Novolex for about $2.3B
Newell Brands (NWL) announced that it has signed a definitive agreement to sell The Waddington Group, its global consumer and commercial package manufacturing business, to Novolex Holdings, a leading provider of paper and plastic packaging products backed by The Carlyle Group (CG).
The Waddington Group, based in Covington, KY, comprises a global brand portfolio including Eco-Products, the leader in the green packaging space; POLAR PAK containers, serving ware, drink-ware and cutlery; WNA upscale disposable plastic products; and other industry-leading brands.
The sale is part of Newell Brands' previously announced Accelerated Transformation strategy, designed to create a simpler, faster, stronger consumer-focused portfolio of leading brands.
Gross proceeds from the divestiture are expected to be approximately $2.3B, subject to customary working capital and transaction adjustments. Waddington's 2017 net sales were $907M.
The company expects the transaction to result in after-tax proceeds of approximately $2.2N, which will be applied to deleveraging and share repurchase.
The transaction is expected to close within approximately 60 days, subject to customary closing conditions, including regulatory approval. J.P. Morgan Securities acted as financial advisor to Newell Brands on the transaction.
NWL closed at $26.69
Barron's is bullish on Ensco, bearish on Chipotle
Stockwinners offers Barron's review of stocks to buy, stocks to watch,
BULLISH MENTIONS:
Investors should consider Ensco to benefit from oil-price surge. Crude-oil prices are set to jump because President Donald Trump is likely to reintroduce harsh sanctions on Iran by mid-May and to benefit from the oil-price surge, investors should consider buying shares in Ensco (ESV), Simon Constable writes in this week's edition of Barron's. Other key oil stocks include EOG Resource (EOG), Transocean (RIG), Exxon Mobil (XOM), Halliburton (HAL), ConocoPhillips (COP) and Devon Energy (DVN), he adds.
Netflix may soon pass Disney in Market Value – Any week now, Netflix (NFLX) will surpass in market value Walt Disney (DIS) as investors cheer on the streaming service's continued subscriber growth, Jack Hough writes in this week's edition of Barron's. Investors who buy Disney shares now could have a long wait before they learn whether the streaming push will result in a rebounding price/earnings ratio, but that is where a diversified business model helps, Hough says.
Chipotle results boosted by potentially short-lived dynamics – Brian Niccol, the new CEO at Chipotle Mexican Grill, got an "enormous" endorsement on Thursday, as shares of the restaurant chain soared 24%, Avi Salzman writes in this week's edition of Barron's. But Salzman is still skeptical that investors should buy the rebound. The first-quarter report was boosted by several dynamics that could be short-lived, he argues, adding that even with those results, it is hard to "make a queso" for Chipotle tripling earnings.

redpajama_set_name: RedPajamaCommonCrawl


text:
From freeze to freedom
May 15, 2008 September 5, 2018 Emilie Yam
After years of struggling to be released from the financial reins of the Student Government Association, the student paper at Montclair State University finally gained independence from the SGA ' but it was no easy feat.The Montclarion and SGA became embroiled in a dispute this year beginning in January when the SGA froze the Montclarion's funds and culminating in the school's administration stepping in and announcing the paper will be separated from the SGA by July 1.The Montclarion, which has been entirely funded by the SGA, was unable to publish its first issue of the semester when SGA leaders decided to freeze the paper's budget on Jan. 22. A letter sent to the paper from SGA President Ron Chicken cited the "unauthorized hiring" of Montclarion attorney Sal M. Anderton, and the withholding of correspondence between the paper and Anderton, as reasons for the budget freeze. Chicken fired Anderton in November.Chicken told the SPLC in December he fired the attorney because the contract between the Montclarion and Anderton had not been properly authorized by the SGA. But the paper reported the SGA had approved $5,000 for Montclarion legal fees in its operating budget. Anderton was advising the paper on its claim that a closed SGA session violated state open meeting laws. Montclarion Editor in Chief Karl de Vries described the budget freeze as "a petty, personal vendetta."During a five-hour meeting on Jan. 31, SGA legislators voted to release some of the Montclarion's funds for 30 days ' enough to print the paper and buy office supplies. Negotiations between the paper and SGA failed during their only mediation session on Feb. 26.The next day, university President Susan A. Cole announced the Montclarion would separate from the SGA by July 1. Cole also said the school would ensure enough funds for the paper to continue printing for the rest of the semester."The Montclarion has come to the conclusion that its relationship to the SGA poses an unacceptable obstacle to a free press," Cole said in a statement to the SGA. "I agree with the underlying principle that government and a free press must remain separate."Some SGA members were less than thrilled with Cole's announcement and the involvement of administrators in the dispute."I do support them being independent, however, I do not think that this situation between the SGA and the Montclarion was ground for them to be separate," said Diana Salameh, SGA chief of staff.History of disagreementThe Montclarion's relationship with SGA has also been tense in the past. In a December 2006 editorial, the Montclarion called for the resignation of former SGA treasurer Maria Soares when she was facing impeachment charges for not fulfilling her official duties. Soares remained in office and attempted to freeze the paper's budget in February 2007, allegedly in response to the newspaper's overspending.The SGA president and legislators at the time overruled Soares' decision. De Vries called for the separation of the paper from the SGA in an editorial after the incident.The paper's separation from the SGA had been, for years, a goal that de Vries and Montclarion editors in chief before him had fought for ' efforts that had thus far been fruitless. And for his part, de Vries said he remains "cautiously optimistic" about a Montclarion independent from the SGA.The administration and the Montclarion still are ironing out the details of the paper's separation from the SGA, said Minne Ho, director of communications at Montclair State. The paper and university are developing a new charter for the Montclarion, which may include a new student media board. The university also is considering separating the student radio station, WMSC, from the SGA, Ho said.The Montclarion "probably will be supported by student fees to begin with and then move toward a revenue-based model," she said.De Vries said the paper did not yet make enough advertising revenue to fund itself, and funding remains the paper's biggest concern. The SGA will continue to fund the paper until formal separation."The most important thing is that the student fee is mandatory, that the newspaper is guaranteed funding," he said. "That's not an optional thing."Although the Montclarion's relations with the SGA remain less than warm, de Vries said there is less "open hostility" between the two. De Vries will be passing on the torch to a new editor in chief in June."It's difficult to say if we've accomplished anything so far," he said. "There's still plenty that could go wrong."
Tagged reports, Spring 2008