Civil rate – HC Ingenieria http://hcingenieria.com/ Sun, 19 Jun 2022 12:00:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://hcingenieria.com/wp-content/uploads/2021/06/favicon-20.png Civil rate – HC Ingenieria http://hcingenieria.com/ 32 32 Juneteenth reminds us of the continuing inequalities surrounding the ownership of ‘heirs’ https://hcingenieria.com/juneteenth-reminds-us-of-the-continuing-inequalities-surrounding-the-ownership-of-heirs/ Sun, 19 Jun 2022 12:00:00 +0000 https://hcingenieria.com/juneteenth-reminds-us-of-the-continuing-inequalities-surrounding-the-ownership-of-heirs/ On June 19, 1865, Union Major General Gordon Granger arrived in Galveston, Texas, and issued General Order No. 3 proclaiming freedom for all slaves in the state and effectively wiping out the last vestiges of slavery. institutional slavery in the Confederacy. Today, we commemorate that watershed moment, officially known as Juneteenth National Independence Day, which […]]]>

On June 19, 1865, Union Major General Gordon Granger arrived in Galveston, Texas, and issued General Order No. 3 proclaiming freedom for all slaves in the state and effectively wiping out the last vestiges of slavery. institutional slavery in the Confederacy. Today, we commemorate that watershed moment, officially known as Juneteenth National Independence Day, which the Biden administration recognized as a federal holiday last year — one of many welcome signs of progress.

And yet, a look at the text of General Ordinance No. 3 itself shows how far we still have to go. Among other things, the general order declared “absolute equality of…property rights between former masters and slaves,” but more than a century later, black Americans still face discrimination in the effective enforcement of their rights. of property. One of the causes of this continuing inequity, a little-known quirk of the law called “heirship ownership,” has serious implications not only for social justice, but also for economic prosperity and environmental sustainability. As American citizens, we all have a stake in righting this historic wrong.

Black land ownership in the United States peaked at nearly 16 million acres in 1910, but by the turn of the century that number had fallen to less than 3 million acres. One of the main culprits behind this dramatic decline is heir ownership, a term for land passed informally from one generation to the next, usually because the owner died without a will. This practice was common during Reconstruction, when black Americans had little or no access to the justice system. According to the United States Department of Agriculture (USDA), the heir-ownership system remains “the leading cause of involuntary loss of land by black people.”

Problems with this system arise when there are multiple living heirs to a property, with each heir owning his own fraction of the land. A single co-owner can force a judicial sale of all the land, even if it goes against the wishes of the other owners. Land speculators often take advantage of this system by buying a fraction of land from an heir and then forcing the sale of the entire property, usually well above the market price.

Even when heirs are not forced to sell, the heir ownership system can undermine their efforts to create intergenerational wealth in many ways. Property owners of unresolved heirs cannot obtain mortgages, farm loans, foreclosure protection, or disaster relief. And many essential USDA programs designed to improve land management and increase land value – securing fences to keep cows out of the stream, planting seedlings to grow timber trees, and more. – are inaccessible to the owners of the heirs.

Property matters to people. It can be much more than just a plot of land. It can be a window into the past that tells the story of a family, a community, or even a way of life. Knowing about your family’s history and culture creates a sense of belonging and belonging. The loss of heirs’ assets impacts an entire community, not just a family.

The heir-ownership system also has a negative impact on businesses that depend on healthy, intact forests for their products. By 2060, the southern United States could lose up to 23 million acres of forest due to rapid and unsustainable development. All of this deforestation and forest degradation can alter river flows, alter rainfall patterns, increase soil erosion and release large amounts of carbon into the atmosphere, accelerating the rate of climate change.

The government has the resources and reach to help reconcile this legacy of disenfranchisement. So far, 19 states have passed some version of the Uniform Heir Property Division Act (UPHPA), which provides families with protections against the kind of abuse the heir property system has allowed for nearly two decades. centuries. The USDA established the Heir Estate Return Program to help owners of heir estates secure their rights and retain ownership of their land.

We urge more states to adopt versions of the UPHPA and provide legal services to these landowners, just as we urge more business leaders to step up and support the communities where their employees and customers live, work. and raise families. Land rights form the basis for resilient communities, resilient forests and ultimately a resilient world that we can all be proud to pass on to the next generation.

Jennie L. Stephens, Ph.D., is the executive director of the Center for Heirs’ Property Preservation.

Vangela M. Wade is President and CEO of the Mississippi Center for Justice. In October 2021, the centers launched the Mobile Basin Heir Ownership Support Initiative, with support from the World Wildlife Fund and Kimberly-Clark.

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A sheriff’s captain called our investigation “an entertaining piece of fiction.” An inspector general disagrees. —ProPublica https://hcingenieria.com/a-sheriffs-captain-called-our-investigation-an-entertaining-piece-of-fiction-an-inspector-general-disagrees-propublica/ Fri, 17 Jun 2022 19:30:00 +0000 https://hcingenieria.com/a-sheriffs-captain-called-our-investigation-an-entertaining-piece-of-fiction-an-inspector-general-disagrees-propublica/ This article was produced for ProPublica’s Local Reporting Network in partnership with KPCC/LAist. Subscribe to Dispatches to get stories like this as soon as they’re published. Los Angeles County sheriff’s deputies are disproportionately contacting, citing and arresting black college students in the Antelope Valley, according to a new report from the county inspector general’s office. […]]]>

This article was produced for ProPublica’s Local Reporting Network in partnership with KPCC/LAist. Subscribe to Dispatches to get stories like this as soon as they’re published.

Los Angeles County sheriff’s deputies are disproportionately contacting, citing and arresting black college students in the Antelope Valley, according to a new report from the county inspector general’s office. And these students are also being suspended and expelled disproportionately at higher rates than other racial groups, according to the report.

The analysis was spurred by a year-long investigation into allegations of racial discrimination in Antelope Valley high schools by LAist and ProPublica. Looking at data from the 2018-2019 school year, our survey found that black teens made up 60% of assistant contacts at Lancaster high schools, despite only making up about 20% of enrollment at those schools.

Inspector General Max Huntsman’s office reviewed data from the sheriff’s department for the 2019-2020 school year and said its findings supported the news organizations’ investigation. Additionally, he said the problem could be worse than the numbers indicate, due to flaws in the department’s data collection system.

The report also criticized the sheriff’s department for providing no evidence for claims it made that called into question the validity of our analysis.

“The practice of making public denials without factual support is fundamentally inconsistent with California law controlling the conduct of law enforcement,” the investigators wrote. “ProPublica’s analysis appears to be fundamentally correct.”

In an emailed statement, the sheriff’s department told the LAist it could not provide immediate comment because it had not yet fully reviewed the report.

“What we can say is that Sheriff Alex Villanueva takes allegations of misconduct very seriously and we will provide a more detailed response once we review these findings,” the department wrote.

The Office of the Inspector General presented its findings to the Civilian Oversight Commission on Thursday. This is the same organization that had asked the Inspector General’s office to look into the matter following the news organizations’ report.

Just after the article was first published last fall, Capt. John Lecrivain, the chief of the Lancaster Sheriff’s Office, told commissioners the investigation was “very entertaining fiction”. He struck a different tone at Thursday’s meeting.

“This is a serious concern for the department, and we appreciate the opportunity to participate in the discussion and find solutions,” he said, adding that the department has reviewed its data and “we found that There was a certain disparity in the contacts with the students.

Deputy Inspector General Mahdi Mohamed told the meeting that the sheriff’s department also failed to respond to investigators’ request from nine months ago for information – including video from a camera carried to the body – regarding an incident at Lancaster High School in which a 16-year-old student, MiKayla Robinson, was punched in the body by a sheriff’s deputy.

Mohamed said the sheriff’s department’s lack of information made it difficult “to investigate the reason for the deputy’s contact with the student.” He said the office finally received the body camera video in the past few days.

Robinson’s attorney, Lisa Bloom, said she filed a lawsuit in May against the Antelope Valley Union School District and the Sheriff’s Department, alleging civil rights violations. Neither the school district nor the sheriff’s department responded.

“The findings of this new report that black students are cited, arrested, suspended and expelled at disproportionately higher rates than other students should be a wake-up call,” Bloom said in a statement. “Immediate action must be taken to protect black students from further harm.”

In 2015, the US Department of Justice and the Los Angeles County Sheriff’s Department entered into a court-ordered consent decree agreeing to reforms that included protections against racial profiling. That agreement arose from the findings of a two-year investigation by the DOJ’s Civil Rights Division, which found, in part, that deputies routinely racially profile black residents of Antelope Valley.

Under-reported data

The data reviewed by the Inspector General’s office and by LAist and ProPublica came from the Sheriff’s Automated Contact Reporting System.

Huntsman’s office analyzed nearly 17,000 contacts by Lancaster station deputies — who are assigned to Antelope Valley high schools as school resource officers — during the 2019-20 school year. About 400 of these contacts were made in or around 11 high schools in the valley.

Investigators said the ACSS system “is inaccurate and significantly under-reports important data.” In a report released this month, the bureau found the sheriff’s department underreported more than 50,000 stops and more than 70,000 arrests between 2018 and 2019.

“Any conclusions based on this review of the SACR data likely underestimate the issues identified in this report, particularly those related to racial disparities,” the investigators wrote. They called on the sheriff’s department to improve the accuracy of the system.

Analysis by the Office of the Inspector General found that black students had disproportionately more contact with MPs than any other racial group.


Credit:
Courtesy of the Office of Inspector General

The Inspector General’s analysis found that black students made up about 67% of contacts made by Lancaster station MPs, but only about 18% of total school enrolment.

By comparison, Latino students — who make up the majority of the school’s population, about 64 percent — made up just 26 percent of adjunct contacts.

Black students cited and arrested more

The Inspector General’s analysis also showed that black students were issued almost 70% of all citations resulting from contacts with MPs. Black students also accounted for nearly 60% of all arrests resulting from contact with deputies.

The report says these findings are consistent with previous reports from news outlets.

Sheriff’s Deputy Justin Ruppert, team leader of Lancaster Station’s School Safety Unit, told LAist and ProPublica that the vast majority of deputies’ contacts on campus are based on referrals from staff and school administrators – rather than being initiated by law enforcement. At the time of the original story, Antelope Valley Union School District administrators did not respond to interview requests or a list of written questions.

The Inspector General’s office, however, found that “the majority of school contacts were self-initiated by deputies.” However, he noted that MPs may not code calls correctly.

Analysis by the Office of the Inspector General revealed that the majority of contacts with secondary school students were initiated by MPs.


Credit:
Courtesy of the Office of Inspector General

Huntsman’s office also found that black and Latino school-aged youth had fewer recorded contacts with deputies outside of school than inside.

Notably, white students had more contact with deputies outside of school than inside.

The Inspector General’s office found that black and Latino students were contacted by deputies more at school than outside of school.


Credit:
Courtesy of the Office of Inspector General

Additionally, the inspector general’s office found that black students accounted for 54% of total suspensions in the 2019-20 school year.

About 1 in 7 black students in high schools have been suspended, a rate more than twice the state average.

Black and Latino students each accounted for about 47% of expulsions, although black students were expelled at a disproportionate rate given their much lower share of the student population.

A call for transparency and training

At the 2021 protest in Lancaster.


Credit:
Bethany Mollenkof, special for ProPublica

The office listed a number of recommendations “aimed at increasing the transparency, accuracy and effectiveness of the oversight of school resource assistants and the safety of youth in the community.”

Investigators also recommended that the Sheriff’s Department expand its training program “to educate all patrol-related deputies on their desirability to act as informal counselors and gateways for at-risk youth to county non-criminal services.” .

Last June, the Los Angeles County Board of Supervisors passed a motion holding the county’s CEO to account for a plan to collect and publish data related to deputies’ contact with young people.

Last fall’s news agency survey profiled Barron Gardner, a high school history teacher working for the Antelope Valley District. Gardner had become a reluctant spokesman for a growing movement, led mostly by black and Latino residents, to get LASD deputies off school campuses.

On Thursday, Gardner said over the phone that he believes the numbers in the inspector general’s report “come as no surprise” to school staff and Antelope Valley residents.

“I could have guessed those numbers off the top of my head,” he said.

Gardner also said he wanted the inspector general’s report — in addition to acknowledging that his black students were being overly scrutinized — to give more context to the issues his black students face. He listed a few: “homelessness, foster families, parents and prisons” – and systemic racism. Gardner said all are factors that prevent black students from accessing socio-emotional and mental health resources.

“That’s what we think is the best way to handle it – with the cops,” he said.

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Non-executive officials will receive 4.5% COLA by the end of the year https://hcingenieria.com/non-executive-officials-will-receive-4-5-cola-by-the-end-of-the-year/ Mon, 13 Jun 2022 21:44:33 +0000 https://hcingenieria.com/non-executive-officials-will-receive-4-5-cola-by-the-end-of-the-year/ Prime Minister Wayne Panton in Parliament on Friday (CNS): Officials of grade E and below on the wage scale can expect three special payments of $150, which they will receive this month and in July and August, to help them cope with the rising cost of living. This precedes a 2% salary increase which will […]]]>
Prime Minister Wayne Panton in Parliament on Friday

(CNS): Officials of grade E and below on the wage scale can expect three special payments of $150, which they will receive this month and in July and August, to help them cope with the rising cost of living. This precedes a 2% salary increase which will be rolled out to all levels and an additional 2.5% for those in grade E and below. Prime Minister Wayne Panton announced the pay rise in parliament on Friday, saying it would come from the existing budget.

The prime minister said this, along with plans to cut nearly everyone’s fuel bills with a $5 million fuel factor subsidy, was one of many policies PACT had already put in place. implemented or announced to help families fight inflation.

After “months of work”, PACT is rolling out a number of new initiatives that Panton says would help people cope with the rising cost of living plaguing Cayman and most countries around the world. He told MPs and the public in a statement that in addition to a long list of measures already taken to help those in need, a wide range of new policies would help mitigate the worst of the impact.

“We are working very hard to contain or reduce costs for the people of this country,” Panton said in his speech, following the shorter statement he said on Thursday in response to criticism from the Leader of the Opposition that PACT had done nothing to tackle inflation. The Prime Minister denied this and listed more than a dozen targeted and broader initiatives already rolled out that have helped people in need and families in general.

On Friday, he gave more details on some of the new policies that have already been announced, including the expansion of CINICO services as well as the provision of mortgages at fixed rates for two years at 3.75%, well below the prime rate, via Cayman Islands. Islands Development Bank.

He said the government was also in talks with the other local banks to improve lending conditions and was close to finalizing an initiative to improve the rights of homeowners in circumstances where they experience defaults on their mortgages. .

As well as building at least 100 new affordable homes through the National Housing Development Trust, the government intends to put affordable land up for sale, he said, adding that the CIG was working with local farmers to improve food production and reduce costs. as well as strengthening food security with regional trade agreements.

Panton said accelerating renewable energy by investing public funds in large-scale infrastructure would stabilize energy costs and address threats to the supply chain as well as the environment.

The two new initiatives are the temporary assistance program for residential electricity costs and an increase in the cost of living for civil servants, the largest employer in the Cayman Islands.

“The PACT government has had discussions with major utility providers and will set aside over C$5 million to help families across the three islands cope with rising electricity costs resulting from the increased fuel costs during the months of July and August. and September, the hottest months of the year and when electricity consumption is highest,” he said.

The aid will be reserved for residential customers and capped at consumption up to 2,000 kWh per month. “We will finalize details with both utility companies and issue a more detailed announcement the week of June 20. This initiative will help some 22,000 households across our three islands,” the Prime Minister told his colleagues.

He also said officials would see a 2% allowance, which would come from savings made under the existing approved budget. Non-executive government employees, those at grade E or below, will also receive three payments of $150 per month to help with higher utility costs over the summer. “These fees will begin this month and continue through August. It will only be paid to non-managerial staff, at E grades and below,” he said.

Panton pointed out that governments around the world face the same dilemma of how to safely navigate an uncertain future, bring relief to its citizens and mitigate the impact of inflation, especially on the middle class and the poor. low income families.

“Although our government has limited levers, given that the existing drivers of inflation are global factors such as supply chain constraints, war and a pandemic, the PACT government remains committed to doing this. that we can,” he said.

In September, when schools reopen, the civil service will receive the sustained 2% wage increase across all areas. Then, in December, qualified employees in non-managerial grades will receive, through salary progression, an increase, which is valued at approximately 2.5% of salary. Thus, by the end of the year, civil servants will benefit from a salary increase of 4.5% plus $450 in three monthly installments.

“These are difficult times due to driving forces beyond our control,” the prime minister said. “Yet, working together and within the approved budget, we will all get through this.” He said they were the government employees the country would rely on “to help us overcome the daunting challenges that lie ahead as they are called upon to carry out government policies.”

Panton said 4,400 public servants are the foundation of the community. “Investment in this Caymanian-dominated institution has a high multiplier effect in our economy as they anchor their extended families and are equally essential in keeping local small businesses and retailers afloat,” he said, noting that all increases would be financed by savings. within the existing human resources budget.

“In addition to implementing this fiscal strategy, they must also continue to ensure that the political priorities of the government are also achieved. This public service has done it before and I am confident it will do it again,” the Prime Minister said. Panton said he wished the government could do even more, but he was doing what he could while remaining fiscally prudent and sustainable.

“We will be watching the performance of our budgets closely to see what might be possible in the years to come,” he said. “The local cost of living situation has been brewing for years and the recent spike is almost entirely due to factors beyond this government’s control.”

Panton continued: “The reality is that there is a limit to what political and financial leaders can do against rising inflation, especially given the various causes, but we will continue to do whatever is in our power to help reduce the cost of goods and services. to the inhabitants of these islands where possible”, concluded the Prime Minister.

Watch the Prime Minister’s speech to Parliament on CIGTV below:


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India reports over 7,000 new COVID-19 cases in 24 hours https://hcingenieria.com/india-reports-over-7000-new-covid-19-cases-in-24-hours/ Thu, 09 Jun 2022 13:41:13 +0000 https://hcingenieria.com/india-reports-over-7000-new-covid-19-cases-in-24-hours/ India Covid Live: Recorded weekly positivity rate was 0.91% (representative) New Delhi: India today reported a total of 7,240 new coronavirus infections, bringing the total number of COVID-19 cases in the country to 4,31,97,522, the health ministry said. The daily positivity rate of 1.62% was seen in the past 24 hours, while the weekly positivity […]]]>

India Covid Live: Recorded weekly positivity rate was 0.91% (representative)

New Delhi:

India today reported a total of 7,240 new coronavirus infections, bringing the total number of COVID-19 cases in the country to 4,31,97,522, the health ministry said.

The daily positivity rate of 1.62% was seen in the past 24 hours, while the weekly positivity rate was recorded at 0.91%, the health ministry said.

Active cases of COVID-19 rose to 32,498 and the death toll from Covid rose to 5,24,723 with 8 deaths in the past 24 hours, according to government data.

Here are the live updates on coronavirus (COVID-19) cases:

Get updates from NDTVEnable notifications for receive alerts as this story develops.

Coronavirus LIVE updates: Maharashtra records 2,813 Covid cases
Maharashtra recorded 2,813 new coronavirus cases on Thursday, the highest in nearly four months, and one death linked to the pandemic, the state health department said.

The number of active cases rose to 11,571.

The state capital, Mumbai, recorded 1,702 infections and the only death during the day.

The daily increase in cases was the highest since February 15, when 2,831 infections were revealed.

Coronavirus LIVE updates: Odisha reports 31 new cases of COVID-19
Odisha recorded 31 new coronavirus cases on Thursday, 12 more than the previous day, with a total of 12,88,576, according to a health department bulletin.

The death toll remained at 9,126 as no new deaths from the infection were reported in the past 24 hours.

So far, fifty-three other coronavirus patients have died from comorbidities, according to the bulletin.

Coronavirus: passengers who do not wear a mask may be removed from the flight

The lack of masks at airports and on flights has been made exploitable again as Covid numbers have started to climb in parts of the country. Civil aviation regulator DGCA said today that passengers who refuse to comply may be disembarked before take-off or treated as unruly passengers. CISF staff will be responsible for enforcing masks.

The new DGCA guidelines came days after the Delhi High Court ordered a hard line against passengers who refuse to comply with Covid safety measures.

Pondicherry adds 4 new cases of COVID-19 in 24 hours

The Union Territory of Pondicherry recorded four new cases of COVID-19 in the past 24 hours, bringing the total to 1,65,914, a senior health ministry official said today.

There were no deaths in any of the four regions in the past 24 hours ending at 10 a.m. Thursday, Chief Health Officer G Sriramulu said in a statement, adding the death toll remained at 1,962.

The number of active cases stands at 35, he said.

Two patients have recovered in the past 24 hours, he said, adding that the total number of recoveries had risen to 1,63,917.

The Department of Health has so far screened 22,61,418 and found 19,06,229 of them to be negative.

The test positivity rate was 0.46% while the death and cure rates were 1.18% and 98.80% respectively.

The Ministry of Health has so far administered 17,15,932 doses, including 9,68,019 first doses, 7,22,704 second doses and 25,209 booster doses.

One new case of COVID-19 in the Andamans in 24 hours

The Andaman and Nicobar Islands’ COVID-19 tally rose to 10,053 today as another person tested positive for the infection, according to a health bulletin.

The new infection was detected during contact tracing, he said.

The Union Territory now has six active cases, while 9,918 people have recovered from the disease and 129 patients have succumbed to the infection so far.

The administration has so far tested over 7.42 lakh samples and fully vaccinated 3.40 lakh people.

440 new cases of COVID-19 in Thane of Maharashtra

Maharashtra’s Thane district has reported 440 new cases of COVID-19, taking its tally of infections to 7,12,366, an official said today.

Those new cases were recorded on Wednesday, a sharp increase of more than 100 cases from Tuesday’s tally.

The death toll in the district remained unchanged at 11,895 and the death rate from COVID-19 stood at 1.67 percent, the official said.

COVID-19 UPDATE – JUNE 9

India records 7,240 new cases of COVID-19 in past 24 hours

Number of deaths from COVID-19 in the last 24 hours: 8

The number of active Covid cases in India currently stands at 32,498

So far, 194.59 million doses of Covid vaccine have been administered as part of the national vaccination campaign

Active cases stand at 0.08%

Recovery rate currently at 98.71%

3,591 recoveries in the last 24 hours brings total recoveries to 4, 26, 40,301

Daily positivity rate (2.13%)

Weekly positivity rate (1.31%)

85.38 crore total tests completed so far; 3,40,615 tests performed in the last 24 hours

justin: India reports 7,240 new Covid cases in past 24 hours, jumping nearly 40% for second day in a row; daily cases almost double in 48 hours.

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ACLU seeks $86,000 from Johnny Depp for legal fees following subpoenas https://hcingenieria.com/aclu-seeks-86000-from-johnny-depp-for-legal-fees-following-subpoenas/ Mon, 06 Jun 2022 20:49:03 +0000 https://hcingenieria.com/aclu-seeks-86000-from-johnny-depp-for-legal-fees-following-subpoenas/ SHOCKER verdict: Johnny Depp-Amber heard BOTH WIN libel claims against each other The jury in Johnny Depp and Amber Heard’s libel trial both won against each other, a jury has ruled. Depp was awarded $15 million in damages, Heard was awarded $2 million. A verdict in Johnny Depp’s libel lawsuit against Amber Heard may have […]]]>

A verdict in Johnny Depp’s libel lawsuit against Amber Heard may have been read, but the aftermath is far from over.

The American Civil Liberties Union (ACLU), a nonprofit civil rights organization that made headlines for its role in the lawsuit, is seeking $86,000 in legal fees from Depp after he prepared and provided documents his legal team had subpoenaed for use in the case.

Court documents say the majority of the requested funds would be used to pay legal fees after three ACLU witnesses testified following subpoenas from Depp’s legal team.

A summary of expenses explains that senior partner Michael Schwartz worked 38.7 hours at a rate of $799.50 per hour for a total of $30,940.65.

A junior associate worked 78.6 hours at a rate of $500.20 per hour for a total of $39,315.72, a litigation support manager worked 17.1 hours at a rate of 336.20 $ per hour for a total of $5,749.02 and a litigation support analyst worked 31 hours at a rate of $295.20 per hour for a total of $9,151.20, according to the documents judicial.

“The ACLU is entitled under New York law to seek reimbursement of reasonable costs associated with complying with Mr. Depp’s subpoenas. We are seeking reimbursement far less than what it cost to the ACLU to produce the thousands of pages of documents that Mr. Depp’s attorneys have requested,” the ACLU wrote in an email to FOX television stations.

A jury last week sided with Depp in his lawsuit against ex-wife Heard, awarding the ‘Pirates of the Caribbean’ actor more than $10 million and vindicating his claims that Heard lied about Depp abusing her before and during their brief marriage.

Depp sued Heard for defamation in Fairfax County Circuit Court over a December 2018 op-ed she wrote in the Washington Post describing himself as “a public figure representing domestic violence”. His lawyers said he was defamed by the article even though it never mentioned his name.

Most of the article deals with public policy as it relates to domestic violence, and Heard’s attorneys say she has a First Amendment right to intervene.

The ACLU wrote the article under Heard’s name, reflecting her role as the ACLU’s ambassador on gender-based violence issues.

Terence Dougherty, general counsel for the ACLU, testified that numerous ACLU attorneys reviewed the article at various stages and asked Heard’s lawyers to also review the article to ensure that it does not didn’t violate a nondisclosure agreement she had with Depp as part of the couple’s 2016 divorce.

During those discussions, Heard returned an edited version approved by his attorneys that “specifically castrated much of the copy relating to his marriage,” according to an email from Jessica Weitz, an ACLU staffer who coordinated with Heard.

In the first passage, Heard writes that “two years ago I became a public figure representing domestic violence, and felt the full force of our culture’s anger.” Depp’s lawyers call it a clear reference to Depp, given that Heard publicly accused Depp of domestic violence in 2016 – two years before she wrote the article.

In a second passage, she says, “I had the rare vantage point of seeing, in real time, how institutions protect men accused of abuse.”

The jury ruled in favor of Depp on all three of his claims regarding specific statements in the 2018 article.

The Associated Press contributed to this story.

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Revolution of civil disobedience, the only way out of the current mismanagement —Ariyo https://hcingenieria.com/revolution-of-civil-disobedience-the-only-way-out-of-the-current-mismanagement-ariyo/ Sun, 05 Jun 2022 05:00:10 +0000 https://hcingenieria.com/revolution-of-civil-disobedience-the-only-way-out-of-the-current-mismanagement-ariyo/ A former All Progressives Congress (APC) political aspirant, Chief Robinson Ariyo is a public analyst, lawyer, vocal activist and peacemaker in the Niger Delta. He talks with EBENEZER ADUROKIYA about the seven years of APC government rule, among other things. What is your APC roster over the past seven years? In fact, we expected too […]]]>

A former All Progressives Congress (APC) political aspirant, Chief Robinson Ariyo is a public analyst, lawyer, vocal activist and peacemaker in the Niger Delta. He talks with EBENEZER ADUROKIYA about the seven years of APC government rule, among other things.

What is your APC roster over the past seven years?

In fact, we expected too much based on our dissatisfaction with the Goodluck Jonathan administration and the promises made by the government, and our impression of President Muhammadu Buhari during his administration of the war on terrorism. indiscipline (WAI) in 1983. We felt that indiscipline was a major problem and bringing in someone with a pedigree to deal with it was the way to go. And so, everyone expected a lot from him. All the promises made, if you put side by side the manifesto, point by point, the realities on the ground, you will discover that the government has failed in practically all areas. If you consider the issue of power generation which was one of the main issues they addressed President Jonathan on, Minister of Works and Energy RajiFashola had said that any serious government should be in able to solve the electrical problem in six months – that was the extent of bragging they had before they got into the saddle. In fact also, President Buhari himself said that, given his experience as a former oil minister at the time, any claim by Jonathan’s government to subsidize fuel was a fraud. He followed through on that statement that there would be working refineries. He painted a picture that he was going to solve the oil subsidy problem and make us more self-sufficient. But he failed on that too. I talked about energy, the oil sector, which are critical sectors.

The primary duty of any responsible government is the welfare and safety of its people. Here again, he failed miserably. This country has never been as dangerous as it is today. And global indices for the ease of doing business have plummeted. The ease of doing business in Jonathan’s time was much higher than it is today. There have been many small and medium enterprises that have flown to neighboring countries to such an extent that even Nigeria at one time traveled to neighboring countries to refine crude oil and bring it back to Nigeria. So the electricity, the oil sector, the security and the infrastructure – the roads are terrible. Now, it is almost impossible for Nigerians to travel safely by all means of transport. Trains are at the mercy of terrorist attacks. Is it religious unrest in the country? The country is now almost in turmoil. There doesn’t seem to be any respite in sight as to how to resolve this blockage. We thought things would be much better now, but we were wrong. In education – the other time Buhari described Jonathan’s government as irresponsible in the face of the ASUU strike. Buhari’s government made several agreements with the ASUU which it never honoured. And that is why we have a situation where our schools have closed and this has drastically affected the quality of education in Nigeria.

In the area of ​​the economy, things got worse. Today, the rate of naira per dollar is N610. All empirical indicators point to abysmal failure – completely below expectations. Find out how high profile economic criminals convicted by the EFCC are granted state pardons. What message is Buhari sending to the younger generation? Are you talking about those accounting generals accused of stealing billions of naira from a government that prides itself on being an anti-corruption crusader? This is the tip of the iceberg when it comes to corruption in this government. In the past week, we are talking about more than 500 billion naira stolen by just two people – the Accountants General of Rivers State and the Federation. Do you know what this amount will do regarding the ASUU strike? Imagine the Governor of the Central Bank of Nigeria, the man who sits on the financial policy of a country harboring presidential ambition and grandstanding while in power and claiming that a group of people bought him a presidential form of 100 million naira? We have become the laughingstock of the world! I don’t think any government can be worse than this! It’s as if we had no leadership in the country. It is a state of anarchy. We have returned to the state of nature!

How do you critique the standard of living of Nigerians over the past seven years?

We cannot talk about the standard of living without talking about the cost of living. Our revenues have not improved in any way for the past seven years. The rate of inflation is unimaginable. See prices for a pack of Lipton, sugar, etc. How much were they sold then and now? Price of electricity, transport, gas pump, rents, foodstuffs, electronics, everything has increased. That’s why crime has increased and people are so desperate now. People resort to different measures to survive, including ritual killings. If your income is down and the cost of living is up, what happens next could be unimaginable!

Are you saying that this government has been more of a curse than a blessing to Nigerians?

Absolutely yes! Especially since when you don’t expect someone to perform, you won’t be disappointed. Expectations were high. They came up with the critical concept of a breath of fresh air. They understood our state of suffocation, but they plunged us deeper into this toxin we were in. Every promise they had made, they had failed. Where are the refineries? Where is the abundance of life? Today, we are less secure than when they arrived. Is the grant still a scam as Buhari described it at the time? Hasn’t he constantly continued to pay it over the past seven years?

What are the issues?

Unfortunately, we have an electoral system that has been hijacked by the oligarchy.

What do you mean by “oligarchy”?

The ruling class at the federal and state levels. Those who are privileged are those who are favored by the government. Those who stole money and are not favored by the government are prosecuted by the government through the EFCC. I understand that the wanted Rivers State Accountant General won the PDP gubernatorial primaries in the state. How can this happen in a country where people are hungry and someone who is accused of stealing billions of naira is declared a candidate for governor? If you look at those emerging as gubernatorial candidates in certain states and compare them to the aspirants they have quarreled with, you will understand the rationality behind these oligarchs. What we practice is the government of a few oligarchics, by a few oligarchics and for a few oligarchics. If you look at all the primaries, you will see that there is a trend. A Nigerian president who buys a form of 100 million naira for a job of four years less than the legitimate salary of 50 million naira, isn’t that madness?

What is the path to the current seven-year mess?

There is really no way out of this quagmire, because it is those responsible for the transitional and electoral system who benefit from the system. The solution is radical change through a revolution that will sweep these people away and clean up the system. People make laws and they are the true beneficiaries of the same law. People need to come out in droves. For me, there should be no election. People should go out and solve the problem first. When you do something over and over again in a particular way and expect a different result, then you have to examine your head. The scaffold we produced Buhari with is still the same scaffold available to produce the next set of leaders. The type of revolution that I prescribe is the type that occurs in all civil societies. Why can’t we adopt the direct primary in our political parties? This will weed out all those incompetent candidates emerging in our states. Let people choose who they want. But they have created a system that weeds out quality applicants in favor of lesser quality ones.

What type of revolution are you calling for?

Within the legal framework, there is what we call civil disobedience. It is one of the tools with which you challenge government policies. For example, the fall of the dollar is enough for us to occupy the streets to reject certain political orientations encouraging the difficult situation. To this day, the country is dangerous due to religious intolerance, ethnic intolerance and insecurity. Thus, civil society is supposed to mobilize the population against these tendencies to ransom this country as it did during the EndSars debacle. Why can’t we have direct primaries as opposed to indirect primaries? The real election is the primaries that they hijacked for their friends. Already, citizens have been deprived of their rights. Look what happened during the PDP primaries in Delta State? Look at the quality of the contenders who challenged? If it was a direct primary, the person who emerged would not have emerged.

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What a Netflix hit really reveals about Japanese risk-taking https://hcingenieria.com/what-a-netflix-hit-really-reveals-about-japanese-risk-taking/ Tue, 31 May 2022 05:10:45 +0000 https://hcingenieria.com/what-a-netflix-hit-really-reveals-about-japanese-risk-taking/ Placeholder while loading article actions Japan was a little perplexed to discover that a family favorite TV show, known here as Hajimete no Otsukai (My First Errand), suddenly gained international fame on Netflix as Old Enough. The program, which features preschoolers running errands on their own, has sparked a global debate about parenting standards. An […]]]>
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Japan was a little perplexed to discover that a family favorite TV show, known here as Hajimete no Otsukai (My First Errand), suddenly gained international fame on Netflix as Old Enough.

The program, which features preschoolers running errands on their own, has sparked a global debate about parenting standards. An article in the UK called the reality show “bizarre”, citing a child psychologist who described it as “exploitative and dangerous”. NPR felt compelled to warn parents not to let their offspring imitate children on the show, lest they violate local laws.

The Japanese are delighted that the heavily scripted show, which has been airing here for three decades, is considered “dangerous”. After all, this is a country where children often take the solo train to primary school, sneaking among the employees at rush hour.

But it is wrong to conclude that the Japanese are more risk-tolerant than Western helicopter parents. Foreigners and Japanese take different lessons from Old Enough. The show isn’t really about kids innovating to overcome difficult challenges. It’s more about how to become functioning members of society – through the proverbial school of hard knocks. On the contrary, Old Enough – which first aired in 1991 – reflects some long-established societal precepts, which are only now beginning to change.

Take career expectations. According to a recent survey, the number one choice parents and grandparents want for their children and grandchildren is a job in the national civil service. Number two? local public service. The nation’s largest company, Toyota Motor Corp., finished third.

Not that civil service jobs are particularly attractive. They are hard to get and pay only a little above the national average. National broadcaster NHK reported that 30% of civil servants in their 20s worked 80 or more overtime hours a month, a level of endurance that contributes to overwork death cases in Japan.

So why is this job so popular with parents? The answer: stability and security. These are lifetime jobs for those who can stick to the rigors.

In Japan, people stay in their jobs for a very long time rather than risk returning to the labor market. In the United States, workers are more transient: 23% have been in their jobs for less than a year, according to a survey. In Japan, this figure is 8%. Those with more than 20 years of service made up 22% of workers in Japan and just 10% in the United States. This reluctance to change jobs is one of the main reasons why wages have been depressed over the past three decades.

University graduates are also less willing to go it alone. Prime Minister Fumio Kishida’s administration lamented the lack of startups in the country, pointing out that the largest group of listed companies in Japan was formed in the decade after World War II, including Sony Group Corp. and Honda Motor Co.

The same lack of adventure is evident elsewhere: far less money is invested in high-risk assets such as company shares and mutual funds than is the norm in other countries. Companies are often afraid to invest big money in innovation, allowing foreign rivals to sneak in and take over industries like electric vehicles. The risk-taking attitude is also visible in the post-pandemic soft-soft approach to letting tourists return, a conservative process that has broad public support but is infuriating the business community.

There are, however, some promising developments. Kishida is right to note the lack of startups, but the national venture capital scene is growing. Funds raised by Japanese venture capital firms are expected to hit a record close to $7.7 billion, a figure that was less than $1 billion less than a decade ago. Although still relatively rare, more young students are now joining or founding a startup than a generation ago.

And while sticking to one job remains the ideal, the rate of change among people in their 40s and 50s jumped in 2021 to five times the level of 2013. Growing competition for talent is likely to propel this trend, especially if companies take advantage of the weak yen to bring manufacturing back to Japan.

While parents want their children to become civil servants, fewer young people want lifelong employment. According to a government survey, the number of those who said they would prefer to keep a job fell by eight percentage points in 2018 compared to five years earlier. Just 4.4% said they would keep the same job even if it was difficult, the second lowest percentage of the seven major countries surveyed.

As for this list of the best career destinations for the country’s offspring? After bureaucracy and Toyota, the most popular options were Alphabet Inc. and Apple Inc. Although not the riskiest options, the same list a decade ago was dominated by airlines and train operators , with no foreign companies in the top 10 even. although they generally pay more for talented workers and enjoy superior benefits.

The Japanese should revisit Old Enough and learn different lessons. Yes, the show is about the tough love that lets kids fend for themselves. But that strength must lead to managing risk, escaping drudgery, and innovating to make life more rewarding. Now that the world is watching, Japan should take this to heart.

More from this writer and others on Bloomberg Opinion:

The Japanese must invest before it’s too late: Gearoid Reidy

No lie for these students in China Covid-Zero: Shuli Ren

Netflix, inflation and the impact of reality: John Authors

This column does not necessarily reflect the opinion of the Editorial Board or of Bloomberg LP and its owners.

Gearoid Reidy is a Bloomberg News editor covering Japan. He previously led the breaking news team in North Asia and was the deputy chief of the Tokyo bureau.

More stories like this are available at bloomberg.com/opinion

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Negative interest rates and disputes in Germany: court rulings https://hcingenieria.com/negative-interest-rates-and-disputes-in-germany-court-rulings/ Thu, 26 May 2022 05:43:45 +0000 https://hcingenieria.com/negative-interest-rates-and-disputes-in-germany-court-rulings/ Background Negative interest rates are currently the subject of intense discussion in the banking sector. Coverage of this topic in the legal literature and case law has recently come under intense scrutiny by lenders, borrowers and depositors. Impact on loans Banks and borrowers agree on a variable interest rate using an interest escalation clause that […]]]>

Background

Negative interest rates are currently the subject of intense discussion in the banking sector. Coverage of this topic in the legal literature and case law has recently come under intense scrutiny by lenders, borrowers and depositors.

Impact on loans

Banks and borrowers agree on a variable interest rate using an interest escalation clause that ties the interest rate to a benchmark interest rate. If the reference interest rate is correspondingly low – due to the current low interest rate phase – this can result in an arithmetically negative interest rate for the loan. As a result, borrowers are increasingly demanding payment of negative interest from lending banks.

Directive of the German Civil Code

According to § 488, paragraph 1, sentence 2 of the German Civil Code, the borrower is obliged to pay interest. Interest is the remuneration of the transfer of capital, measured according to the duration, and independent of profit and turnover. Therefore, the statutory interest model does not provide for a demand for payment of negative interest. The interest due to an interest indexation clause can therefore at most fall to zero, but cannot lead to an obligation for the lender to pay the borrower a remuneration for the capital contribution.

Courts Direction

A court will consider the commercial context of disputed agreements. With regard to older agreements, it can be assumed that the parties did not take negative interest rates into account at all. Also, interest rate floors were very unusual at that time. Therefore, the absence of a floor does not lead to the conclusion that the lender has an obligation to pay interest in the event that the application of the interest indexation clause results in a negative interest rate.

Several regional courts (see for example, Regional Court of Hamburg, judgment of 4 December 2020 – 318 O 367/19, Civil Chamber 2b of the Regional Court of Düsseldorf, judgment of 24 June 2020 – 2b O 254/18, Regional Court of Stuttgart , judgment of October 20, 2021 – 14 O 770/20) as well as a higher regional court (Higher Regional Court Düsseldorf, judgment of October 28, 2021 – I-5 U 29/21) have therefore already rejected claims against banks for the payment of negative interest arising from Schuldschein loan agreements.

Despite these elements, the Higher Regional Court of Hamburg, judgment of May 11, 2022 – 13 U 2/21) and the 13th civil chamber of the Düsseldorf Regional Court (judgment of March 11, 2020 – 13 O 322/18) each upheld at the request of a borrower against a lending bank. According to the courts, fluctuations in interest rates in variable interest rate clauses affect both contracting parties, whether the interest rates are positive or negative, and, according to the supplementary interpretation of the agreements, an obligation of the lender’s payment for the negative value corresponds to the hypothetical intention of the parties.

Impact on deposits

In the meantime, things are going badly for customers of deposit banks. First, they earn no meaningful interest on their deposits. Secondly, nearly 600 banks and savings banks in Germany charge their depositors a negative interest rate, also known as penalty interest or custody fee, on higher amounts in private current accounts and sight accounts. In most cases, the negative interest rate is 0.5%. This is the same as the interest rate the European Central Bank charged commercial banks for short-term deposits.

The view of the courts

According to previous decisions (see, for example, Regional Court of Leipzig, judgment of 8 July 2021 – 05 O 640/20, Regional Court of Tübingen, judgment of 26 January 2018 – 4 O 187/17 – and judgment of 25 May 2018 – 4 O 225/17) for the admissibility of negative interest, a distinction must be made between new customers and existing customers. In the case of new mandates, individual agreements on negative interests are allowed, provided that this is sufficiently clear in the agreement. In the case of old mandates, a subsequent modification of the price display is not sufficient. In addition, according to case law, charging negative interest is not permitted if an account management fee has already been agreed. In addition, according to recent decisions of the Regional Court Düsseldorf and the Regional Court Berlin, a credit institution may not charge additional fees for custody of deposits in addition to account management fees for current accounts (Regional Court of Düsseldorf, judgment of 23 December 2021 – 12 O 34/21), and the levying of a custodial commission for payment service contracts is not compatible with the fundamental ideas of the legal provisions (Berlin Regional Court, judgment of October 28, 2021 – 16 O 43/21).

BaFin’s point of view

The Federal Financial Supervisory Authority (BaFin) has also looked into this issue, leading it to prohibit online brokers from charging negative interest rates on demand deposits and existing customer balances. BaFin also determined that custody fees for existing customers were unenforceable if such fees were introduced in the bank’s terms and conditions.

However, an action for annulment brought against the prohibition order was successful (Administrative Court of Frankfurt am Main, judgment of June 24, 2021 – 7 K 2237/20.F) because, of the court opinion, BaFin had not sufficiently addressed the issue of whether it had the power to issue a restraining order, given that restraining orders are only permitted if general clarification is required by law. supervisory authority. Where a decision by a superior or supreme court on the relevant legal issue is expected in the foreseeable future, the requirement is not met.

However, despite the cancellation, BaFin’s position on custody fees has been crystal clear.

The context

The decisions of the courts and the BaFin must be seen in the context of the judgment of the Federal Court of Justice on the modification of the general conditions by fictitious consent (judgment of 27 April 2021 – XI ZR 26/20, see Lending Focus, September 2021). In this judgment, the Federal Court of Justice ruled that banks cannot unilaterally and without restriction change the main contractual obligations of bank customers by means of a presumed consent of the customers.

Outlook

Given the abundance of legal proceedings on negative interest rates, it can be expected that the Federal Court of Justice will also rule on negative interest rates in credit and deposit cases in a near future.

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Global Civil Aircraft Interior Detailing and Cleaning Services Market Production, Growth, Share, Demand and Applications to 2027 https://hcingenieria.com/global-civil-aircraft-interior-detailing-and-cleaning-services-market-production-growth-share-demand-and-applications-to-2027/ Tue, 24 May 2022 05:29:31 +0000 https://hcingenieria.com/global-civil-aircraft-interior-detailing-and-cleaning-services-market-production-growth-share-demand-and-applications-to-2027/ Global Civil Aircraft Interior Cleaning and Detailing Services Market Research Report 2021 that is a detailed observation of several aspects, including the rate of growth, technological advances and various strategies implemented by the main current market players. The report is based on a collective analysis of data, which is obtained through primary […]]]>




Global Civil Aircraft Interior Cleaning and Detailing Services Market Research Report 2021 that is a detailed observation of several aspects, including the rate of growth, technological advances and various strategies implemented by the main current market players. The report is based on a collective analysis of data, which is obtained through primary and secondary research. It provides a systematic approach to the current and prospective scenario of this market.

The researchers have studied the Civil Aircraft Interior Cleaning and Detailing Services market in depth and have developed important segments such as product type, application and region. Each and every segment and its sub-segments are analyzed based on their market share, growth prospects and CAGR. Each market segment offers in-depth, both qualitative and quantitative information on market outlook.

Exemplifying the key insights of the Civil Aircraft Interior Cleaning and Detailing Services Industry research report:

Request Sample Copy of this Report @ https://www.newsorigins.com/request-sample/3589

A succinct overview of the regional landscape of the Civil Aircraft Interior Cleaning and Detailing Services market:

  • The report broadly explains the regional expansion of this industry, while dividing it into United States, Europe, Japan, China, India, Southeast Asia.
  • The study provides data relating to the market share that each nation in question represents, along with promising growth opportunities anticipated for each geography.
  • The research report includes the estimated growth rate to be achieved by each region during the forecast period.

Additional points to take away from the report that could be useful to potential shareholders of the Civil Aircraft Interior Cleaning and Aesthetics Services market:

  • The Civil Aircraft Interior Cleaning and Aesthetic Services Market report examines the product range of this company meticulously. On the basis of product line, the research report segments the civil aircraft interior cleaning and detailing services market into
    • General cleaning and details
    • Interior service
    • Leather cleaning and reconditioning and toilet cleaning

    .

  • The information related to the achieved market share based on product type, profit estimate and production growth has been recorded in the report.
  • The report also contains a basic assessment of the application range of the Civil Aircraft Interior Cleaning and Detailing Services market, which has been segmented into
    • Airliners
    • business aircraft
    • Regional plane
    • commercial airliner
    • By region
    • North America
    • WE
    • Canada
    • Europe
    • Germany
    • France
    • UK
    • Italy
    • Russia and Nordic

    .

  • The facts regarding the market share and product demand for each application, followed by the growth rate that each application segment is expected to achieve in the foreseeable time frame, have been displayed in the report.
  • The study also offers additional basic details regarding aspects such as market concentration rate and raw material production rate.
  • The report represents the latest pricing trends prevailing in the Civil Aircraft Interior Detailing and Cleaning Services industry and the anticipated growth opportunities in the sector.
  • A meticulous assessment of trends related to marketing strategy, market positioning, and marketing channel development has been included in the report.
  • In addition, the report also presents information regarding the production cost structure, manufacturers and suppliers, and the predominant downstream customers in the industry.

The major companies playing a crucial role in this market are:

  • The Civil Aircraft Interior Cleaning and Detailing Services market report offers a detailed analysis of the competitors in this industry. According to the report, businesses Immaculateflight ABM JetFast Diener Aviation Services LGS Handling Sharp Details Higheraviation KT Aviation Services AERO Specialties Australian Aviation Detailers Cairns Dyn-o-mite Paragonaviationdetailing Kleenol Nigeria Limited Clean Before Flight TAG Aviation Libanand Plane Detail are mentioned in the civil aircraft interior cleaning competitive terrain and Aesthetic Services Market.
  • Data regarding market share and manufacturing sites owned by industry leaders, as well as area served, has been covered in the study.
  • The report combines information about the industry players’ product portfolio and product features along with compatible product applications.
  • A concise overview of the companies in question, their pricing models and their gross margins has been mentioned in the report.

The Civil Aircraft Interior Cleaning and Detailing Services Market report provides comprehensive analysis as follows:

  • Market segments and sub-segments
  • Size and market shares
  • Market trends and dynamics
  • Market drivers and opportunities
  • Competitive landscape
  • Supply and demand
  • Technological inventions in the civil aircraft interior cleaning and detailing services industry
  • Development trend of marketing channels
  • Positioning of the solar thermal market
  • Pricing strategy
  • brand strategy
  • Target customer
  • List of Distributors/Traders included in the Civil Aircraft Interior Detailing and Cleaning Services Market

Customization request for this report @ https://www.newsorigins.com/request-for-customization/3589

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Why Kohl’s shares plunged again on Friday https://hcingenieria.com/why-kohls-shares-plunged-again-on-friday/ Fri, 20 May 2022 21:30:49 +0000 https://hcingenieria.com/why-kohls-shares-plunged-again-on-friday/ What happened Few investors are bullish on retail stocks right now, but the bears are definitely coming for Kohls (NYSE: KSS). For the second time this week, on Friday, the company’s shares took a heavy hit in the market, ending the day down almost 13%. The stock was beaten by a series of analyst price […]]]>

What happened

Few investors are bullish on retail stocks right now, but the bears are definitely coming for Kohls (NYSE: KSS). For the second time this week, on Friday, the company’s shares took a heavy hit in the market, ending the day down almost 13%. The stock was beaten by a series of analyst price target cuts following a lackluster quarterly earnings report.

So what

On Thursday, Kohl’s released a first-quarter earnings release that made almost no one happy. On a 5% year-over-year drop in comparable sales, the company’s revenue fell 4% to just under $3.72 billion. Non-GAAP net income (adjusted) was $14 million ($0.11), well down from the first quarter 2021 result of $165 million.

Image source: Getty Images.

On average, analysts tracking Kohl’s stock had expected slightly lower revenue of $3.69 billion, but believed the company would earn $0.72 per share in adjusted net income.

Nor was the veteran retail operator’s forecast for the year 2022 inspiring. The company is modeling net sales growth of 1% year-over-year for the period, with earnings per share of $6.45 to $6.85, significantly below the collective estimate of analysts $7.18.

Now what

Kohl’s is looking for a way out. Company CEO Michelle Gass said she would “continue to engage with multiple interested parties” and was in the process of arranging offers from entities interested in potentially acquiring it.

None of this inspires confidence in the stock. A series of investment banks lowered their price targets on stocks on Thursday and Friday. Among this crowd was Morgan Stanley, whose analyst Kimberly Greenberger cut hers to $38 per share from $42 previously. Greenberger maintains its underweight (ie sell) recommendation on the stock.

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Eric Volkman has no position in the stocks mentioned. The Motley Fool has no position in the stocks mentioned. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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