Home Away from Home

first_imgThe North Face Meadowlands 6 The trouble with big family tents is that they often require an engineering degree to pitch them. The North Face simplifies the process as much as possible with the Meadowlands, a six-person behemoth, by giving you color-coded poles and exterior pole clips, so you don’t have to fish the poles through 13 feet of tubing. As for space, the Meadowlands has it: 90 square feet to be exact. There’s lots of mesh for venting, but the tent is burly enough to hold up to winds that might cripple lesser family digs. 14.4 pounds. $429; thenorthface.com 1 2 One size fits all? Not when you’re talking about tents. Check out these four new shelters, fit for soloists or big families.REI Hobitat 4 Yes, the Hobitat is a tent, but you’d be better served thinking of this as a modular home. The four-person tent comes standard with a rainfly and mini vestibule, but it’s also built with a special “connect tech zipper” that allows you to add a full-sized garage. Pop open the garage’s awning and you’ve got shaded outdoor lounge space; close it down completely and you’ve got weatherproof storage for all your gear. Not that the tent isn’t spacious enough on its own. The odd pod-shaped design gives you more headroom throughout the tent, and tons of mesh pockets and hang loops keep your family’s gear off the floor. 16lb 8oz. $269; rei.comSierra Designs Lightning HT 2 Compared to most two-person tents, which are really only big enough for one regular-sized person and a dog, the Lightning HT 2 feels like a roomy amphitheater. The square footage isn’t revolutionary (28.5 square feet) but a few smart design features enable the Lightning HT 2 to live big. An extra ridge pole adds head room, then double doors keep you from having to step over your buddy every time you have to pee. And the rain fly has two separate vestibules, so you each get your own space. It’s a fully mesh tent, so if the weather’s right, ditch the fly and the entire forest becomes your bedroom, minus the bugs. 3lb 14oz. $279.95; sierradesigns.comlast_img read more

101: Intro to Climbing

first_imgSchool of Hard Rocks: A climber ascends the south peak of Seneca Rocks, W.Va. Photo: Massey TeelFrom the gear and terminology to the fear factor, learning to climb can be intimidating. But the payoff is huge.  Here is some crucial info to help you rock your first rock climb.Three Ways to ClimbTop rope: The climbing rope is run through a fixed anchor point above the route, allowing the climber to send shorter routes without any extra protection on the wall. Sport: Fixed protection is bolted into the rock wall, allowing climbers to clip into bolts as they send a route.Traditional: Artificial protection (cams and wedges) is placed in grooves and cracks on the rock wall as the lead climber sends a route. The second climber then “cleans” or removes the protection as he follows up the route. Trad climbing is the most prevalent form of climbing in the Southeast.Climbing GlossaryAnchor: The point where the rope is attached to the rock. Anchors are typically trees or bolts.Belay: To secure a climber with a rope to minimize a fall. In a top rope scenario, the climber, anchor, and belayer form three points of contact with the rope.Crux: The most difficult section of a climb.Gripped: Overcome with fear and fatigue in the middle of a climb.Lead climbing: To climb a route from the bottom up, placing artificial protection, or clipping into permanently placed bolts, along the way.Multi-pitch: A long route that demands traditional protection placement. Each pitch of the climb must be shorter than a single length of rope (50 meters).Protection: “Pro” for short, anchors placed by a lead climber to secure a climb.Myth BustersFirst, forget everything you think you know about rock climbing. Here are two common misconceptions dispelled:1. Climbing is dangerous: Sure, you’re hundreds of feet off the ground strapped to a rock wall, but climbing is far safer than most non-climbers realize. According to a study released in 2008 by the American Alpine Club, climbers suffer fewer accidents than snowboards, skiers, and sledders.“Knowledge is power,” says Swis Stockton, owner of Granite Arches, a service that guides beginners all over the Southeast. “A lot of beginners are scared to fall because they don’t realize the equipment is built for that very thing. If the ropes and harnesses are cared for, they’re much safer than most beginners think.2. Climbing is about upper body strength: Sylvester Stallone made climbing looking brutally hard in Cliffhanger, but it’s not really about bulging biceps and huge “lats.”“Climbing is about leg presses, not pull ups,” Stockton says. “Good climbers think about their foot placement first, moving from one foothold to the next, using their hands just for balance.”Practice your footwork in the gym. Find a low-angled wall built for kids and try to traverse it using only your feet. If you can, keep your hands on your hips. 1 2last_img read more

Federal regulators issue TDR guidance

first_imgNAFCU continues to receive questions from credit unions as they navigate the challenges posed by COVID-19 and work to help their members who are adversely impacted. One common question is to what extent loan modifications made during this time will be considered a “troubled debt restructuring” (TDR) under NCUA guidance and generally accepted accounting principles (GAAP).As a reminder, Appendix B to Part 741 of NCUA’s regulations sets forth the agency’s expectations regarding loan workouts, nonaccrual policies, and regulatory reporting of TDR loans. In this guidance, the definition of TDR is set by the Financial Accounting Standards Board (FASB), whether a specific loan modification is a TDR is generally a question requiring accounting expertise, not legal expertise. Credit unions may need to consult with their accountant on these kinds of issues.In Appendix B, NCUA stated that a TDR is “a restructuring in which a credit union, for economic or legal reasons related to a member borrower’s financial difficulties, grants a concession to the borrower that it would not otherwise consider.” This can include “a modification of the loan terms, such as a reduction of the stated interest rate, principal, or accrued interest or an extension of the maturity date at a stated interest rate lower than the current market rate.” In other words, many of the programs credit unions have been considering to assist members affected by COVID-19 seemed to potentially meet the definition of TDR. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Paul Nicholls retains faith in Solo ahead of return | Racing News

first_img– Advertisement – “This track is much more like Kempton, where he won the Adonis. He’s schooled great and is working well – I’m very excited about him.“We’ll stay over hurdles this year, and Saturday will tell us an awful lot.”Nicholls also fields Diego Du Charmil in Sayturday’s Grade Two heat, while 2016 victor Sceau Royal represents Alan King and arrives on the back of victory in the Welsh Champion Hurdle.- Advertisement – Colin Tizzard’s Master Debonair is an intriguing runner, having been off the track since disappointing in his Cheltenham Festival prep back in February, with a planned Aintree outing scuppered by the cancellation of the Grand National meeting.Brandon Castle and Teqany complete the six-strong line-up.Nicholls fields Wincanton fan Grand Sancy in the “Rising Stars” Novices’ Chase, in which he faces just two rivals.He has won the last two of his five outings over fences, also finishing third at Grade One level on his chasing debut, and arrives with a Listed success at Chepstow already in the bank this season.The trainer said: “This has been the plan ever since he won at Chepstow.“He’s a good, solid jumper who loves good ground, so I think he’s got a great chance“He’s a novice until December 1, and the experience he had in those good races last season will stand him in good stead.“He ran in the Elite Hurdle last year and was only just beaten – he loves Wincanton.“He’s a good, solid jumper who loves good ground, so I think he’s got a great chance.”Present Man and Bryony Frost will try to repeat their victories of 2017 and 2018 in the Badger Ales Silver Trophy Chase, with Nicholls also fielding Danny Whizzbang and My Way.The 10-year-old Present Man warmed up for this with a veterans’ chase win at Chepstow last month, when he returned from a 335-day break.Nicholls said: “He’s only gone up 2lb for winning at Chepstow, and we went there thinking he’d need the run a little. We had that as a prep race, so he surprised us a little bit.“He looks great. I don’t think he was ever right last season. If he runs like he did at Chepstow the other day, on his beloved course and the ground is fast, he must have a leading chance.”While Present Man tops the weights, My Way is at the other end of the scale with Bryan Carver also taking a hand 5lb off the recent Stratford hurdles winner.Nicholls added: “I’ve always thought the Badger Ales would be a great race for My Way. He’s a maiden over fences, but he ran some nice races last year and is on a nice little mark.“He won well over hurdles the other day, really as a prep for this. If the ground doesn’t dry up too much, he’s definitely got a chance.”The three-mile-one-furlong contest has drawn 15 runners, including Kim Bailey’s likely favourite and hat-trick seeker El Presente and the Harry Fry-trained Just A Sting, who was fourth in the race last year. aul Nicholls is keeping the faith with Solo as he makes his seasonal bow in the Unibet Elite Hurdle at Wincanton.The four-year-old made quite a splash on his British debut back in February, hacking up by 13 lengths in the Adonis Juvenile Hurdle at Kempton to add to a previous Auteuil victory for Guillaume Macaire.- Advertisement – Upped to Grade One company in the Triumph Hurdle at Cheltenham, Solo fell short in finishing a 10-and-a-half-length eighth – but Nicholls believes that effort can be excused and is keen to see how his charge, who has been gelded since, shapes up on his return.He said: “He’d probably done enough in France and had never seen a track like Cheltenham before.“Horses like Clan Des Obeaux and Frodon ran in the Triumph and finished in midfield like him. I’d put a line through Cheltenham – he’s had a nice break, he’s been gelded and has definitely improved.- Advertisement –last_img read more

As Prabowo visits Russia again, little headway on Sukhoi

first_imgDefense analysts said Prabowo’s latest visit to Moscow is the culmination of a two-year campaign from the Indonesian Defense Ministry to offer a strategic partnership in the defense industry between the two countries, an overture that has been welcomed by the Russian government, which gradually opened itself to such an idea with the 2019 Military Technical Cooperation (MTC) meeting.Analyst Curie Maharani Savitri of BINUS University said Prabowo’s latest visit marked the changing nature of the two countries’ defense partnership, which dated back to 2003.“Indonesia has been invested in bilateral relations with Russia since the days of president Megawati Soekarnoputri in 2003,” Curie said. “The [relationship is] evolving, from the initial role of Indonesia as a buyer of [Russia’s] primary weapons system; now Russia has opened itself to the prospect of [defense] industry cooperation [with Indonesia].”Russia’s pivot in the defense partnership with Indonesia was part of a bigger plan to improve its ties with countries in the Southeast Asia region, which have been seen so far only as consumers of its primary weapons system, Curie said. In a statement released following his January meeting with Prabowo, Defense Minister Shoygu considered Indonesia a key partner in the region.“We consider Indonesia as one of the most important partners of Russia in the Asia-Pacific region. Cooperation with Indonesia is traditionally based on friendship and mutual trust. We note that there are prerequisites for bringing bilateral ties to the level of a strategic partnership,” Shoygu said in a statement released by the Russian Defense Ministry. In the statement, Shoygu expressed hope that a declaration on the strategic partnership could be signed between the two countries this year. Despite the warming of the ties, questions remain over progress in the US$1.14 billion deal signed in 2018 for Indonesia’s purchase of 11 Sukhoi Su-35 jet fighters from Russia as part of the former’s defense sector modernization.A number of factors, including budget refocusing to tackle the COVID-19 pandemic as well as uncertainty over the United States’ reaction to such a purchase, are possible stumbling blocks in finalizing the Sukhoi deal.The Countering America’s Adversaries Through Sanctions Act (CAATSA), passed in the US in 2017, stipulates economic punishments for its partners that conduct business with Russia.“There is not yet any clarity on whether Indonesia will get a [CAATSA] waiver, whether Defense Minister [Prabowo] has lobbied [the US] or will wait until after the upcoming US election,” Curie said.The idea of a CAATSA waiver has been floated since 2018, when then-US Defense Secretary Jim Mattis said such a provision would allow US partners to have a closer partnership with the superpower and help them transition away from their dependency on Russia in terms of military weapons procurement.Defense analyst Dewi Fortuna Anwar of the Indonesian Institute of Sciences (LIPI), meanwhile, said Prabowo’s recent visit to Moscow highlighted Indonesia’s aim to diversify its sources of weaponry to reduce its dependency on a single manufacturer.Dewi said Indonesia paid a heavy price when the US imposed an arms embargo on Indonesia in 1999.“Following the military embargo from the US after the post-referendum violence in East Timor, the government’s new commitment was to diversify its [sources] of primary weaponry system procurement,” said Dewi.Defense Ministry spokesman Dahnil Anzar Simanjuntak, meanwhile, said Prabowo had been invited by his Russian counterpart to discuss defense ties between the two countries.“In the meeting, Defense Minister [Prabowo] and the Russian defense minister touched on issues of defense partnership, particularly military education, joint training and the development of defense industry cooperation,” Dahnil told The Jakarta Post late last week.During his visit, Prabowo also joined the Victory Day parade commemorating the Soviet Union’s triumph in the Second World War. He also met with Chinese Defense Minister Wei Fenghe while attending the parade, with pictures of the two men uploaded to the Defense Ministry’s Twitter handle @Kemhan_RI on June 24.Topics : Defense Minister Prabowo Subianto’s recent visit to Russia to attend the Victory Day military parade highlighted the depth of cooperation in the defense sector between the two countries despite the absence of progress in Indonesia’s plan to procure Russian Sukhoi jet fighters, defense analysts have said.Last week, Prabowo jetted off to Moscow to join the celebration of the 75th anniversary of Victory Day, during which he also held talks with Russian Deputy Defense Minister Alexander Fomin.Prabowo’s latest visit to Moscow was the second in less than six months, after a trip on Jan. 28, when he met with Russian Defense Minister Sergey Shoygu.last_img read more

EIOPA ‘founding father’ backs greater powers for supervisor

first_imgThe “founding father” of the European supervisory bodies has backed calls for the European Insurance and Occupational Pensions Authority (EIOPA) to be given an independent budget, and suggested that granting it greater supervisory powers was inevitable.Jacques de Larosière, a former head of the IMF and chairman of the Larosière committee that in 2009 recommended the creation of the current European Supervisory Authorities (ESAs) of EIOPA, the European Securities and Markets Authority and the European Banking Authority, said the work of establishing the ESAs remained unfinished until they were granted a greater role in supervising their respective sectors.He said EIOPA’s “absolutely fundamental” work on harmonising both regulation and supervision needed to go hand-in-hand with greater powers for the authority chaired by Gabriel Bernardino.Speaking during the keynote address at EIOPA’s annual conference in Frankfurt, de Larosière said: “It is essential that EIOPA have sufficient powers to conduct enquiries into particular financial institutions, and not only in situations of crisis. “And they have to have to have the liberty to do that, without permission.”He also said the funding of the ESAs should be “de-coupled” from the European Commission’s budget, as this would grant them the flexibility needed to carry out its tasks.EIOPA recently warned that a freeze in its budget would “severely undermine” its ability to perform. Carlos Montalvo, EIOPA’s executive director, praised de Larosière as the founding father of the “successful experiment” of ESAs.“I would say the work is unfinished,” de Larosière added, “because, eventually, your institutions, your authorities are going to have to have a wider role in supervision.“Now, we knew that when we wrote the report, but it was not possible to articulate that in that way, and I think it was wise not to do it at the time.“But, little by little, as you establish your credibility, as you establish your objectivity in your work, you will become inevitably a moving force in that question of harmonising supervision.”He said that while it was important not to apply undue pressure, eventually, the three ESAs would be granted a significant role in supervising the European financial system.De Larosière’s intervention comes months after the Commission approved a report on reforming the ESAs that also suggested each should only have a single stakeholder group, essentially merging the pensions and insurance groups at EIOPA.Any suggestion that the occupational pensions stakeholder group (OPSG) should be abolished has been rejected by the industry and members of the OPSG, while Bernardino recently told IPE that the current arrangement should remain.The review also recommended that the funding of the ESAs no longer be the responsibility of the European Commission, and new commissioner for financial services Jonathan Hill has been asked to investigate if the authorities could be funded, either partially or fully, through an industry levy.last_img read more

MSCI warns of €1bn-plus funds running liquidity risks

first_imgRoughly 1% of large, equity-based UCITS investment funds have less than half of their portfolios invested in highly liquid assets, raising questions about their ability to meet high levels of investor redemptions, according to analysis by MSCI.The data firm reviewed about 400 UCITS funds with assets of more than €1bn and found that seven held more than 15% in illiquid assets, while “approximately 1%” had less than half invested in “highly liquid” assets.Laszlo Hollo, a vice-president in MSCI’s risk management and liquidity core research team, wrote in a blog post earlier this month that applying stricter US liquidity rules highlighted a risk of misalignment between the requirements of clients and the ability of fund managers to meet redemptions.“Misaligned liquidity can be a risk for both institutional investors and fund managers,” Hollo said. “For institutional investors, a potential liquidity mismatch may prevent them from withdrawing their capital upon request, while suspension of withdrawals may harm a fund manager’s reputation. “Even though most of the analysed UCITS funds seemed sufficiently liquid, there were a handful with relatively large exposure to liquidity risk.”UCITS funds do not have a strict limit on illiquid holdings, but managers must provide investors the ability to trade at least every two weeks. Many funds permit withdrawals daily. In the US, open-end investment funds cannot hold more than 15% in illiquid assets. Neil Woodford, Woodford Investment ManagementMSCI’s research was conducted in the wake of the high-profile suspension of the LF Woodford Equity Income fund, which stopped investors from withdrawing their money at the start of June after months of high levels of redemptions.Kent County Council’s £6.2bn (€6.9bn) pension fund – one of few institutional investors in the fund – attempted to withdraw its stake but was denied when the fund closed on 3 June.The Woodford fund has yet to reopen. In a statement published on 1 July, Link Fund Solutions – the independent monitor and administrator for the fund – said it had extended the suspension for another 28 days to allow portfolio manager Neil Woodford to reposition the fund’s portfolio into more liquid assets.The UK’s Financial Conduct Authority has promised to revisit illiquid asset rules for investment funds following the Woodford suspension.Last month, Bank of England governor Mark Carney warned that funds with daily liquidity that invested in illiquid assets were “built on a lie”, giving rise to a “structural” problem that had implications for retail investors.“The Woodford fund highlighted the importance of keeping an eye on a fund’s liquidity profile as a key component of managing risk,” MSCI’s Hollo said.last_img read more

COSCO Shipping Specialized Carriers Orders Pulp Carrier Quartet at Dalian Yard

first_imgChina’s shipping company COSCO Shipping Specialized Carriers has exercised options to build four 62,000-ton multipurpose pulp carriers. The company said it signed an agreement with COSCO Shipping Heavy Industry (Dalian) shipyard for the construction of vessel quartet on March 1, 2019.The ships are expected to be delivered between the late 2019 and 2021. The company will pay USD 33.5 million per ship, according to data provided by Asiasis.Last year, COSCO Shipping Specialized Carriers ordered five identical 62,000-ton pulp carriers. The order included four options which needed to be confirmed by March 7, 2019.As explained, the move is in line with the company’s development strategy focused on seizing opportunities in the global pulp market.Back in 2017, COSCO Shipping Specialized Carriers also ordered three 62,000 dwt pulp carriers at Dalian yard. The ships will carry cargo of Brazilian pulp and paper company Suzano Papel e Celulose.COSCO Shipping Specialized Carriers, part of China COSCO Shipping Corporation Limited Company, operates a fleet of more than 100 vessels, including multipurpose and heavy lift vessels, semi-submersible vessels, pure car carriers, logs carriers as well as asphalt carriers.World Maritime News Stafflast_img read more

Villas-Boas: I won’t quit

first_imgAndre Villas-Boas has pledged not to resign as Tottenham manager despite overseeing Spurs’ heaviest-ever home league defeat to Liverpool. Press Association The Portuguese has no scheduled meeting with Tottenham chairman Daniel Levy, but claimed there is no problem with Spurs’ board. Liverpool captain Luis Suarez ran wild at White Hart Lane, scoring twice and having a hand in the goals for Jordan Henderson, John Flanagan and Raheem Sterling. Villas-Boas vowed Tottenham would bounce back from this latest heavy defeat, after claiming they had managed to get over their 6-0 mauling at Manchester City last month. And the Portuguese refused to give up on a top-four Premier League finish. Asked how much time he would be given at Spurs, Villas-Boas said: “That’s the only thing I can’t control, it’s not my call so I can’t say anything else. “I have to get down to work, that’s the only thing I can focus on. “The call to make that decision is not mine, because obviously I won’t resign and I’m not a quitter. “The only thing I can do is work hard with the players to get them back on track. “This is a top-four squad but in our Premier League form we are not there. “It’s not the points tally that’s the problem, it’s the expression of the results. “It’s the second expressive scoreline that we’ve suffered in the season, and we admit that in the Premier League things aren’t going in any shape or form the way we want. “All of us had high expectations for this season, we still have them. “Again I repeat that we are not far off, but the distance is increasing for those Champions League spots. “And because of the expressive result it makes it even more difficult for us to bounce back.” Villas-Boas’ rocky ride at White Hart Lane was not helped by a tweet from Benoit Assou-Ekotto, seeming to make light of the defeat with team-mate Emanuel Adebayor, who were both at the ground for the match. Villas-Boas offered no argument with defeat, but felt Paulinho’s second-half red card allowed Liverpool to pile on the goals, and the misery. Confirming he would try to appeal that red card, Villas-Boas labelled the decision “an extremely poor call”. He said: “I think it was a bit harsh because I don’t think there was intention to hurt Suarez. “His foot was high, definitely a yellow card, but a straight red I think is a bit too much, because Paulinho is not that type of player. “I think it was an extremely poor call that has an influence, not on the victory of Liverpool but on the expressive result. “I will try (to appeal the red card), hopefully there can be some sensitivity into it.” Liverpool manager Rodgers heaped praised on striker Luis Suarez, hinting that captaincy can bring the best out of the prolific Uruguay forward. Suarez’s brace took his Premier League goals tally to 17 for the season, but Rodgers was most concerned with his leadership skills. Rodgers said: “This is a guy who has captained one of the most iconic clubs in European football in Ajax, so it’s nothing new to him. “I wanted to have someone who could represent me and the club in that tunnel, before even stepping on the pitch. “When Luis Suarez has the armband on ready to go out, everyone knows this is a team ready to fight. “He was great in the changing room, I told him a few days back I wanted him to lead this club and that it was an honour for him. “I think he enjoyed it and you’ve seen his performance level.” Hailing his side’s dominance in every area, Rodgers said: “I loved their arrogance with the ball. “They were a real threat with the ball all day. “In winning teams everyone supports each other, and this was a result achieved without our captain Steven Gerrard. “When we have that focus and concentration we’re a very good side.” The under-fire Tottenham boss did, however, admit he did not know how much longer the club would give him to turn their season around. Villas Boas said he has never faced a worse home loss in his career than the 5-0 Barclays Premier League drubbing at the hands of Brendan Rodgers’ rampant Reds. last_img read more

Forty-seven -old De La Hoya thinks he can do some damage in comeback

first_imgBy Chris WilliamsOSCAR De La Hoya hasn’t given up on his dream of returning to the ring after 12 years of retirement to face a big name at 154. The 47-year-old De La Hoya (39-6, 30 KOs) posted on social media last Friday night that he can do “some damage” at the 154 weight range in his comeback.If De La Hoya can come back for one or two fights, he would get enough money to help pump into his promotional company Golden Boy to keep them competitive with the other promoters. That’s not a long term solution for Golden Boy to stay relevant, however. You can’t have De La Hoya coming back in his 60s and 70s, still looking to fight.De La Hoya talked about making a comeback five years ago to face Gennady Golovkin, but he changed his mind after speaking to his family about it. Chris Williams suspects we’ll see the same thing with this latest comeback talk. De La Hoya hasn’t given his rationale for wanting to come out of retirement. Oscar hadn’t fought since 2008 when Manny Pacquiao sent him skittering into retirement after thrashing him and forcing a stoppage in the 8th round. De La Hoya-Pacquiao was a non-title fight that the much bigger De La Hoya was supposed to win.Pacquiao’s trainer Freddie Roach realised that De La Hoya wasn’t the same fighter he once was, saying, he can no longer “pull the trigger” on his punches.At that time, De La Hoya still had a little bit left in the tank if he’d been fighting in the 160 or 154-pound divisions, which is where he should have been. It was De La Hoya’s mistake to agree to fight Pacquiao at 147It’s unclear whether De La Hoya was feeling merry from a night out with friends or if he believes in what he says. The 154-pound division is lacking entirely of stars, and there’s no money to be made for De La Hoya in that weight class.Perhaps he intends to face a welterweight at 154 and look to make a mountain of money from that fight. You can argue that De La Hoya should have made this move five to ten years ago to return to the ring rather than choosing this time.When Oscar was in his 40s, he still looked young and could pass for someone in his 30s. Sadly, the years have been cruel to De La Hoya. He now looks like a person in their mid-50s instead of his chronological age of 47.The former six-division world champion Oscar De La Hoya isn’t the only old-timer talking about wanting to return to the ring. These fighters have all mentioned wanting to stage a comeback: Riddick Bown, Shannon Briggs, Mike Tyson and Evander Holyfield.last_img read more