On the Blogs: The Economy of the ‘Lucky Country’ Is at Risk From Its Lack of Diversification

first_imgOn the Blogs: The Economy of the ‘Lucky Country’ Is at Risk From Its Lack of Diversification FacebookTwitterLinkedInEmailPrint分享Satyajit Das for Bloomberg View:If Australia is an economic miracle—the so-called Lucky Country, beneficiary of more than a quarter century of uninterrupted growth—then its banks are its most visible sign of strength. In fact, though, this ruddy good health masks some deeply worrying trends. The balance sheets of Australia’s biggest banks are far more vulnerable than they may seem on the surface—and that means Australia is, too.Australian financial institutions have made the same fundamental mistake the rest of the country has, assuming that growth based on “houses and holes”—rising property prices and resources buried underground—can continue indefinitely. In fact, despite a recent rebound in Chinese demand, commodities prices look set to remain weak for the foreseeable future. Banks’ exposure to the slowing natural resources sector has reached nearly $50 billion in loans outstanding—worryingly large relative to their capital resources.Pundits have been saying for years that Australia needs to diversify its economy, boosting services exports—primarily tourism, education and health—rather than continuing to depend on resources and debt-fueled property growth. Banks need to do the same, reducing their exposure to the housing market and the mining industry. At the same time, they should move swiftly to shore up their balance sheets, aggressively increasing bad-debt reserves, raising capital and gradually trimming dividends. Even their otherwise enviable luck can’t last forever.In Australia, All That Glitters Isn’t Goldlast_img read more

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Briefs

first_img Briefs THE CUBAN AMERICAN BAR ASSOCIATION recently held its 31st Installation Gala, which honored its first president, Mario P. Goderich who, in 1978, became the first Cuban exile to become a circuit court judge in the U.S. Judge Goderich retired as a Third District Court of Appeal judge in December 2004. CABA presented Goderich with its inaugural P.A.V.E.R. award in recognition of his professionalism, achievements, values, excellence, and respect throughout his career. Judge Goderich also received a special tribute and proclamation from Attorney General Charlie Crist. Pictured from the left are CABA’s new president, Antonio C. Castro, Florida Bar President Kelly Overstreet Johnson, and CABA’s immediate past president, Ramon Abadin. Corali “Cori” Lopez-Castro will serve as the organization’s president-elect. Those elected to the 2005 CABA Board of Directors include Elizabeth M. Hernandez, Marlene Quintana, Sergio Mendez, Victoria Del Pino, Roland Sanchez-Medina, Jr., Victoria Mendez, Sandra Ferrera, Maria Rubio, Vivian De Las Cuevas-Diaz, Roberto Pardo, Manuel Garcia-Linares, and Raul Chacon, Jr. THE JOSIAH T. WALLS BAR Association recently presented a check for $1,000 to officials at the Star Academy, a small private school in a lower socioeconomic neighborhood in Gainesville. The funds are for the Tech for Tots/Street Law community project the bar has launched. The funds were provided by the Bar’s Young Lawyers Division as a part of its affiliate outreach grant program. Pictured from the left in the back are Dean Jonathan Reed, YLD President Michael Faehner, project Chair Bonita Young, school director Phyllis Dykes, and Walls Bar President and YLD board member Rhonda Chung-de Cambre. Dictionaries distributed Marion County public school third- graders are receiving free dictionaries this month, thanks to attorney Steve Rogers and contractor Ken Ausley.The Dictionary Project is a national nonprofit organization originating in South Carolina that raises money to buy dictionaries for third-grade students. The goal of the program is to assist third-graders to complete the school year as good writers, active readers, and creative thinkers by providing the students with their own personal dictionaries. Court reporters hook up with Bar Foundation The Florida Court Reporters Association reaffirmed its commitment to greater access to justice by announcing its plans to become more involved with The Florida Bar Foundation.FCRA President-elect Teresa Durando and FCRA President Louise Johnson say they are looking forward to helping spread the word about the Bar Foundation to Florida’s professional court reporters.According to Tina Kautter, FCRA’s executive director, there are approximately 4,000 court reporters in Florida. Briefs February 15, 2005 Regular Newslast_img read more

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Kathryn Jane Ward

first_imgKathryn Jane Ward, 85, of Dillsboro passed away on Saturday, February 18, 2017 at Dearborn County Hospital. She was born on Friday September 11, 1931 in Dearborn County to Lytle and Mayme (Mendel) Parks. She was a 1949 graduate of Aurora High School.  She married Wilbur D. Ward who preceded her in death. Kathryn was a member of the Dillsboro United Methodist Church, and had been an employee of  Tandy’s IGA and had worked at Lake Dilldear.  She was a quiet lady with a big heart.  She enjoyed cooking and loved baking things for her church family and her many many friends at her apartment complex.  She loved word games and cared dearly for her family, never forgetting anybody’s birthday.Kathryn is survived by daughter Cheryll (Peter) Hendry of Lawrenceburg, grandchildren Leanna Dobbins, Amie Lowe, Kevin Hendry, Andrea Shuter, and Addie Taylor, 14 great grandchildren, daughter-in-law Scarlet Ward, sister Marilyn Probst,and a host of friends.  She was preceded in death by her parents, husband, son Stephen Ward and sister Evelyn Manford.Funeral rites for Kathryn will be 11AM   Friday February 24, 2017 at the Dillsboro United Methodist Church with Pastor Mona Safely officiating.  Burial will follow in Mt. Sinai Cemetery west of Aurora. Visitation will be Thursday 6-8PM at Filter-DeVries Funeral Home in Dillsboro.  Memorials may be made to her church or the cancer fund.Filter-DeVries Funeral Home, Dillsboro entrusted with the arrangements, Box 146, 12887 Lenover St.,Dillsboro, IN 47018; (812)432-5480.last_img read more

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A parting gift for Bourdais

first_imgLeading the field, pole sitter Will Power of Team Australia sped ahead on the first lap, extending his lead to nearly two seconds at one stage over fellow front rower Oriol Servia. On his first pit during a course yellow flag, Power hit the back of David Martinez’s car while coming out of the pits, falling back to 15th place with 20 minutes gone in the race. He went out of the race on the 18th lap after colliding with Katherine Legge. The Australian driver tried to cut inside Legge, hit the side of her car and careened backwards into the wall. Power’s demise continued a trend in the Australian race – only three pole sitters have won in its 17-year history – Nigel Mansell in 1993, Jimmy Vasser in 1996 and Dario Franchitti in 1999. The Australian also won the pole in 2006 but crashed out. “I can’t believe it, two years in a row,” Power said. “All we can do is come back next year and try it again.” The two American drivers in the field, both rookies, finished in the back of the field. Newman Haas Lanigan team member Graham Rahal, the 18-year-old son of three-time series champion Bobby Rahal, was 11th of 17 drivers. Alex Figge, a former Champ Car Atlantic driver now with the Pacific Coast Motorsports, finished 13th. Brazilian Grand Prix Felipe Massa took the pole for today’s decisive race, with overall leader Lewis Hamilton beside him in position to become Formula One’s youngest champion. Kimi Raikkonen and Fernando Alonso – Hamilton’s rivals for the title – will start in the second row, with Raikkonen third and Alonso fourth. Massa, the defending champion, drove his Ferrari around the 2.6-mile counter-clockwise Interlagos track in 1 minute, 11.931 seconds. The Brazilian was .151 faster than Hamilton and .391 faster than Ferrari teammate Raikkonen. Alonso, Hamilton’s McLaren teammate, timed 1:12.356. The Brazilian GP will decide the tightest F1 race for the championship in 21 years. The 22-year-old Hamilton has 107 points, four more than McLaren teammate Alonso and seven more than Raikkonen. A win is worth 10 points. Kroger 200 Mike Skinner sneaked into the lead and held off Jack Sprague for the final 66 laps, helped along by numerous cautions that made the Craftsman Truck Series race at Martinsville (Va.) Speedway look like a brawl. The race was red-flagged with seven laps to go after an accident coming out of Turn 4 that involved at least nine trucks and left wreckage and fluid strewn everywhere. It went back to green for a three-lap dash to finish, and with the trucks behind him jockeying, Skinner sailed off to his series-best fifth victory of the season. Fittingly, the final lap ended with one more pileup. Skinner, who started the race 14 points behind Ron Hornaday Jr. in the championship battle, moved 11 points ahead, the fourth time in the last five races the drivers have swapped the top spot.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! From news services Needing only to finish in 12th place or better, Formula One-bound Frenchman Sebastien Bourdais won today’s Lexmark Indy 300 in Surfers Paradise, Australia to clinch his fourth straight Champ Car drivers’ title. Bourdais took the lead for good with 20 minutes left in the 1 hour, 45-minute timed race and became the first driver to win the race twice in its 17-year history. Bourdais, who has clinched the driver’ championship in Australia the last three years, also won the Surfers race in 2005. “I can’t be any happier,” Bourdais said. “I pushed really, really hard to get there.” AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREGame Center: Chargers at Kansas City Chiefs, Sunday, 10 a.m.The 28-year-old, who will drive for the Toro Rosso team in F1 next year, held a 58-point lead over Justin Wilson going into the race. There is one event left in the Champ Car season – Nov. 11 in Mexico City. Wilson led for several laps while Bourdais pitted but finished second, 6.776 seconds behind Bourdais on the 12-turn, 2.8 mile temporary street course. Bruno Junquiera, despite stalling at the standing start in his 100th Champ Car race, was third, followed by Dutch rookie Robert Doornbos. Bourdais completed 61 laps of the circuit under sunny skies and in perfect racing conditions. While his pit crew hugged each other on the warmdown lap, Bourdais stopped to do several doughnuts on the track surface before being sprayed with champagne when he returned to the garage. “Sebastien did a wonderful job today, he deserves everything he gets,” team co-owner Carl Haas said minutes afer Bourdais crossed the finish line. last_img read more

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AND THEN IT WAS GONE! ‘I CAME BACK FROM GOLF TO FIND NEIGHBOUR HAD CHOPPED DOWN MY TREES’

first_imgMr O’Dowd came back to this!A LANDLADY and her tenant have been ordered to pay more than €4,000 in compensation to a pensioner after illegally chopping down his trees.Loman O’Dowd told a court hearing how a first attack on his 26-foot high trees took place four weeks earlier….whilst he popped to the pub for a pint. The 67-year-old, from 22 Glenview Park, Ballybofey, is a retired horticulturist who had spent years developing his garden for a book he was writing.He had spent 33 years as an advisor with Teagasc.But on August 14, 2008, he told Letterkenny Circuit Civil Court, he heard the roar of a chainsaw from 28 Glenview Park and initially thought nothing of it.Instead he decided to go to the pub for a few pints to get away from the noise.When he came back he discovered that Polish neighbour Robert Gasior had removed all the branches for the first five feet on each of eight trees.He said he was left traumatised by the incident because he knew that as the trees were Leylandii, they would never grow back – and would have to be chopped down.Mr O’Dowd said he made a formal complaint to Rose McGlynn, the mother of the man who owned the house and who was renting the property to Mr Gasior.He wrote down a set of proposals for repairing the damage, but Mrs McGlynn never came back to him.Instead, alleged Mr O’Dowd, Mrs McGlynn’s husband Charles had sworn at him several times.Mr O’DowdThen in September 2008 the pensioner had gone to Portnoo to play golf for the day.He returned to find that Charles McGlynn and one of his sons had chopped down the trees completely.Mr O’Dowd said he was “shocked and traumatised” by the incident and had hardly used his garden since. All his privacy was taken away, he said, and a plan he had to write a book about his garden project was gone.In her evidence Mrs McGlynn did not deny any of the claims and admitted under cross-examination from solicitor Frank Dorrian that she had failed to respond to a request from Mr O’Dowd to settle the matter at a time suited to him.Barrister Peter Nolan, representing Mrs McGlynn, said Mr Gasior had cut back the trees because his two daughters had been hurt climbing them.Mr Gasior said he was sorry for all the hassle he had caused and said he had considered moving home as a result.Judge Mary Faherty said she believed the father of two had acted honestly in the interests of protecting his children.However she ruled that Mr O’Dowd’s property had been damaged.Mrs McGlynnShe took into account the fact that Mrs McGlynn had paid €1,300 for a new fence between the houses which back on to each other, and awarded Mr O’Dowd €4,113 in damages to allow him to restore his garden.“This is a case where there was a complete failure in communication,” said the judge.AND THEN IT WAS GONE! ‘I CAME BACK FROM GOLF TO FIND NEIGHBOUR HAD CHOPPED DOWN MY TREES’ was last modified: March 1st, 2014 by John2Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:BallybofeyLetterkenny CourtLoman O’Dowdneighbour disputeRose McGlynnlast_img read more

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