Vehicular Engine Prices – Progpulsion http://progpulsion.com/ Wed, 05 Oct 2022 22:30:29 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://progpulsion.com/wp-content/uploads/2021/08/icon-12-150x150.png Vehicular Engine Prices – Progpulsion http://progpulsion.com/ 32 32 3 Oil Stocks to Watch as OPEC+ Features Biggest Production Cut Since 2020 https://progpulsion.com/3-oil-stocks-to-watch-as-opec-features-biggest-production-cut-since-2020/ Wed, 05 Oct 2022 22:00:00 +0000 https://progpulsion.com/3-oil-stocks-to-watch-as-opec-features-biggest-production-cut-since-2020/ Oil inventories rose Wednesday morning after OPEC and its allies announced plans cut production by 2 million bpd, which is actually the biggest cut since the pandemic hit in late 2019. OPEC+ began increasing production quotas in June 2021, gradually increasing supply by an additional 400,000 bpd to global markets each month as demand for […]]]>

Oil inventories rose Wednesday morning after OPEC and its allies announced plans cut production by 2 million bpd, which is actually the biggest cut since the pandemic hit in late 2019. OPEC+ began increasing production quotas in June 2021, gradually increasing supply by an additional 400,000 bpd to global markets each month as demand for crude begins to recover. OPEC+ cut production by 100,000 barrels per day in September; however, it has never implemented such a significant production cut in such a tight market, with demand remaining resilient and inventories at historically low levels. Indeed, Goldman Sachs says such a dramatic reduction is expected to push oil prices down triple digits over the next three months.

Here are three energy stocks to keep on your radar.

1. Devon Energy Corporation

Market cap: $39.4 billion

Cumulative returns since the beginning of the year: 48.3%

Earlier this year, BofA analyst Doug Leggate advised investors to focus on oil companies that could increase their free cash flow through consolidations or other cost-cutting measures. , naming Devon Energy (NYSE: DVN), Pioneer of natural resources (NYSE:PXD), and EOG Resources (NYSE: EOG).

Devon is a perfect match for this playbook.

DVN stock was one of the best performing energy stocks thanks to strong earnings and continued cost discipline, including a variable dividend structure.

Following the merger with WPX Energy last year, the company announced fixed and variable dividends, which pleased Wall Street. In the second quarter, Devon paid up to 50% of available cash as a variable dividend, bringing the total dividend to $1.55 per share. The stable share has been indifferent, currently shedding just over 1%. But if the latest convertible payout is a sign of the future, shareholders could receive more than 10% in total.

Some Wall Street analysts had previously pointed to the potential for DVN to post a dividend yield of up to 8% by the end of the year. Devon has already surpassed this figure and now boasts a juicy forecast dividend yield estimated at 9.7%.

  1. western oil

Market cap: $64.1 billion

Cumulative returns since the beginning of the year: 106.3%

Based in Houston Western Oil Company (NYSE: OXY) together with its subsidiaries, engages in the acquisition, exploration and development of oil and gas properties in the United States, the Middle East, Africa and Latin America. The company also has a strong petrochemical segment.

Back in May, Ecopetrol (NYSE: EC) announced an agreement to develop four blocks in deep water offshore Colombia with Occidental Petroleum. Ecopetrol has revealed that it will take a 40% stake in the blocks while Occidental subsidiary Anadarko Colombia will hold a 60% stake and serve as operator. Related: EU ambassadors agree Russian oil price cap

But what investors are most excited about is Warren Buffet’s big bet on it. Earlier this month, Buffett added an additional 5.99 million shares of OXY to his portfolio, and there appears to be no stopping his buying spree. Since July alone, Buffet has added more than 20 million new stocks to his portfolio.

Should you buy just because Buffet is all over this one? Well, maybe. OXY’s second-quarter earnings beat estimates with record earnings, gaining $3.16 per share, a stunning 888% year-over-year increase. The company also reported a more than 80% increase in revenue, with sales up 56% in the first quarter.

When OXY releases its third quarter results in November, anyone deeply involved in the oil field will be watching closely. Of course, much of the second-quarter gains are due to high oil prices, but Wall Street is already targeting estimates of an additional $2.68 in earnings per share, adding a gain of more than 200% to the gain of 888% of the second trimester.

  1. Marathon Oil Corp.

Market cap: $15.3 billion

Cumulative returns since the beginning of the year: 48.0%

giant oil refiner Marathon oil (NYSE: MRO) operates as an independent exploration and production company in the United States and internationally. The Company is engaged in the exploration, production and marketing of crude oil and condensates, natural gas liquids and natural gas; and the production and marketing of products made from natural gas, such as liquefied natural gas and methanol. It also owns and operates 32 central gathering and processing facilities; and the Sugarloaf Gathering System, a 42-mile gas pipeline through Karnes and Atascosa counties. The company was formerly known as USX Corporation and changed its name to Marathon Oil Corporation in December 2001. Marathon Oil Corporation was founded in 1887 and is headquartered in Houston, Texas.

Marathon oil job Second-quarter non-GAAP EPS of $1.32, beating Wall Street consensus by $0.04 while revenue of $2.3B (+101.8% YoY) beat $190M . For the full year 2022, the company raised its equity revenue forecast to a new range of $520 million to $560 million.

What you need to understand about Marathon is that it only works upstream, so betting on Marathon is much more of a bet on oil prices. The doubling of its revenue year-on-year in the second quarter is roughly the direct result of soaring oil prices. So adding Marathon to your portfolio means betting on crude oil prices in an incredibly volatile market.

By Alex Kimani for Oilprice.com

More reading on Oilprice.com:

]]>
Frozen Food Market Size is Expected to Grow by USD 105.72 Billion; Market research highlights the expansion of retail stores offering frozen foods as a key driver https://progpulsion.com/frozen-food-market-size-is-expected-to-grow-by-usd-105-72-billion-market-research-highlights-the-expansion-of-retail-stores-offering-frozen-foods-as-a-key-driver/ Fri, 30 Sep 2022 23:15:00 +0000 https://progpulsion.com/frozen-food-market-size-is-expected-to-grow-by-usd-105-72-billion-market-research-highlights-the-expansion-of-retail-stores-offering-frozen-foods-as-a-key-driver/ NEW YORK, September 30, 2022 /PRNewswire/ — According to research report “Frozen Food Market by Product and Geography – Forecast and Analysis 2022-2026“, the market will grow at a CAGR of 6.85% in 2022 with a CAGR of 6.95% during the forecast period. The report is segmented by Product (Frozen Ready-to-Eat Meals, Frozen Meat & […]]]>

NEW YORK, September 30, 2022 /PRNewswire/ — According to research report “Frozen Food Market by Product and Geography – Forecast and Analysis 2022-2026“, the market will grow at a CAGR of 6.85% in 2022 with a CAGR of 6.95% during the forecast period. The report is segmented by Product (Frozen Ready-to-Eat Meals, Frozen Meat & Poultry, Fish and frozen seafood, frozen fruits and vegetables, and others) and geography (Europe, North AmericaACPA, South Americaand the Middle East and Africa). Read a sample PDF report

Technavio has announced its latest market research report titled Global Frozen Food Market 2022-2026

Supplier Information

The global frozen food market is highly fragmented due to the presence of numerous vendors. Vendors compete in the market by introducing new products, expanding their presence through mergers and acquisitions, and launching marketing campaigns. Vendors offering frozen food products are expected to face some challenges during the forecast period. One such challenge is frequent frozen food recalls, which can affect the supplier’s brand equity and consumer acceptance of its products and, therefore, overall profitability.

The report analyzes the competitive landscape of the market and offers information about several vendors in the market including:

  • Ajinomoto Co. Inc.

  • Aryzta AG

  • Associated British Foods Plc

  • Brands Conagra Inc.

  • General Mills Inc.

  • Hanover Foods

  • JR Simplot Co.

  • JBS S.A.

  • Kellogg Co.

  • Lantmannen Unibake France

  • McCain Foods Ltd.

  • Nestlé SA

  • Nomad Foods Ltd

  • PNW Veg Co. LLC dba NORPAC

  • Smith Frozen Foods Inc

  • The Kraft Heinz Company.

  • Tyson Foods Inc.

  • Unilever APIs

  • Vandemoortele SA

  • Wawona Frozen Foods Inc.

Discover highlights on the growth strategies adopted by suppliers and their product offerings. Request a sample report

Geographic Market Analysis

Europe will provide maximum growth opportunities for the vendors operating in the frozen food market during the forecast period. According to our research report, the region will contribute 39% of the global market growth and is expected to dominate the market till 2026.

The UK is the largest frozen food market in Europe. The increased demand for processed food products is driving the growth of the regional market. In addition, increasing number of consolidations through mergers and acquisitions, innovative marketing campaigns by vendors, and premiumization of frozen food products are driving the growth of the regional market.

Europe will also emerge as the fastest growing market for the frozen food market. Factors such as increasing product innovation and growing number of new product launches are expected to fuel the growth of the frozen food market in Europe during the forecast period. In addition, countries like the United States, Mexico, Chinaand Germany are expected to become significant markets for frozen food over the forecast period.

Analysis of key segments

By product, the frozen food market share growth in the frozen ready meals segment will be significant over the forecast period. The segment includes frozen pizzas, frozen pasta, frozen croissants, frozen Asian meals, frozen rice bowls, frozen noodle bowls, frozen crispy pancakes and frozen pies, among other products. The increasing availability of nutrient-dense frozen food varieties is driving the growth of the segment. See sample report to identify other potential segments and regions in the market.

Key Market Drivers and Challenges:

The frozen food market is mainly driven by the expansion of retail stores offering frozen food. The growing presence of supermarkets, hypermarkets and specialty stores has contributed significantly to the growth of the organized retail sector globally. This allows vendors and retailers to sell frozen food products such as frozen foods, frozen fish and seafood, frozen meat and poultry, and frozen fruits and vegetables. All these factors are expected to drive the growth of the market over the forecast period.

However, the health risks associated with the consumption of frozen ready meals will reduce the growth potential of the market. Frozen foods are stored at low temperatures to prevent spoilage and increase their shelf life. Frozen food manufacturers often replace healthier ingredients with cheaper alternatives. For example, nutrient-dense olive oil is often replaced with less effective canola oil, resulting in the loss of antioxidants found in frozen foods. Therefore, frequent consumption of frozen foods also puts consumers at risk of developing high blood pressure and other health problems. This growing consumer awareness is expected to reduce the growth potential of the market.

Download a sample report now identify other drivers and challenges influencing market growth.

Customize your report

Don’t miss the opportunity to talk to our analyst and learn more about this market report. Our analysts can also help you customize this report to suit your needs. Our analysts and industry experts will work directly with you to understand your needs and provide you with personalized data in a short period of time. Talk to our analyst now!

Related reports:

Frozen Food Market Scope

Report cover

Details

Page number

120

Year of reference

2021

Forecast period

2022-2026

Growth momentum and CAGR

Accelerate at a CAGR of 6.95%

Market Growth 2022-2026

$105.72 billion

Market structure

Fragmented

Annual growth (%)

6.85

Regional analysis

Europe, North America, APAC, South America, Middle East and Africa

Successful market contribution

Europe at 39%

Main consumer countries

United States, Mexico, China, Germany and United Kingdom

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

Ajinomoto Co. Inc., Aryzta AG, Associated British Foods Plc, Conagra Brands Inc., General Mills Inc., Hanover Foods, JR Simplot Co., JBS SA, Kellogg Co., Lantmannen Unibake International, McCain Foods Ltd., Nestle SA , Nomad Foods Ltd, PNW Veg Co. LLC dba NORPAC, Smith Frozen Foods Inc, The Kraft Heinz Co., Tyson Foods Inc., Unilever PLC, Vandemoortele NV and Wawona Frozen Foods Inc.

Market dynamics

Parent market analysis, market growth drivers and barriers, analysis of fast and slow growing segments, impact of COVID-19 and future consumer dynamics, and analysis of market conditions for the forecast period.

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Contents:

1. Summary

2 Market landscape

3 Market sizing

4 Five forces analysis

5 Market Segmentation by Product

6 Customer Landscape

7 Geographic landscape

8 drivers, challenges and trends

9 Supplier landscape

10 Vendor Analysis

11 Appendix

  • Food allergy among consumers: There is an increase in the number of people with food allergies worldwide. Food allergy is caused when the immune system reacts to ingesting certain foods. Ingredients in packaged foods and meats that may cause allergic reactions in some people include (but are not limited to) milk, eggs, fish, shellfish (eg, crab, lobster, and shrimp) , tree nuts (eg, almonds, walnuts, and pecans), peanuts, wheat, and soy. Even consuming small amounts of food allergens can trigger signs and symptoms such as digestive problems, hives, and swollen airways. In some people, a food allergy can cause severe symptoms or even a life-threatening reaction known as anaphylaxis. For example, in the United States, nearly 3% of the adult population suffers from shellfish allergy.

About Us

Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Manager
USA: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Global Frozen Food Market 2022-2026

Global Frozen Food Market 2022-2026

Quote

Quote

Show original content to download multimedia:https://www.prnewswire.com/news-releases/frozen-food-market-size-to-grow-by-usd-105-72-bn-market-research-insights-highlight-the-expansion-of- size-stores-offering-frozen-food-as-engine-key-301636643.html

SOURCETechnavio

]]>
MIND CTI is now more reasonably priced but still has risks https://progpulsion.com/mind-cti-is-now-more-reasonably-priced-but-still-has-risks/ Thu, 29 Sep 2022 21:27:00 +0000 https://progpulsion.com/mind-cti-is-now-more-reasonably-priced-but-still-has-risks/ Delmaine Donson/E+ via Getty Images SPIRIT CTI (NASDAQ: MNDO) is an Israeli company that develops CRM software for small and medium-sized telecommunications operators. In a previous post from February 2022, I commented that MNDO was aware of the threats in the telecom markets, in particular due to consolidation. The company is trying to break into […]]]>

Delmaine Donson/E+ via Getty Images

SPIRIT CTI (NASDAQ: MNDO) is an Israeli company that develops CRM software for small and medium-sized telecommunications operators.

In a previous post from February 2022, I commented that MNDO was aware of the threats in the telecom markets, in particular due to consolidation. The company is trying to break into new business segments through acquisition.

MNDO made two accretive acquisitions in 2019 and has $15 million in cash in 2Q22. The company regularly declares its intention to acquire another company, but has been slow to do so. In my opinion, this signals the prudence of the management of the company, a desirable characteristic. With significant insider shareholders, there is an alignment to do the best for the company.

MNDO’s revenues were down slightly from 2021 records, but did not deviate from normal. Over the past 10 years, the company has averaged net income of $5.2 million and paid out most of it in the form of dividends. Trading at a market cap of $44 million, the company looks cheap. However, in my opinion, the risk of losing customers is still there, and therefore the shareholder should ask for a higher return.

Note: Unless otherwise stated, all information was obtained from MNDO filings with the SEC.

Competitive Characteristics

MNDO sells various CRM solutions to small and medium telecommunications operators. These include billing, e-commerce platform, onboarding, customer service, and more.

For a small and medium-sized operator (referred to as Tier III and II respectively), purchasing software from MNDO is cheaper and easier than developing in-house. While it may also be cheaper for a large carrier, the benefits diminish with scale.

The main problem facing the MNDO is the continued consolidation among telecommunications operators. Carriers need consolidation because fixed investments are high and fragmentation leads to rivalry. In addition, Tier I operators (those with national or continental scale networks) are incentivized to acquire downstream, get closer to end customers and capture more value.

For example, MNDO derives 60% of its revenue from European customers. Europe is known for protecting competition in the telecommunications sector and for avoiding multinational consolidations. This creates a landscape with small countries with many carriers each, instead of the continent-sized carriers in Asia or America. But this situation can change, and it does not depend on the MNDO. A Reuters article from February comments on Europe’s changing attitude towards consolidation, in hopes of attracting investment in fiber and 5G. Some companies like Vodafone are trying to test this change in regulatory attitude by engaging in consolidation.

The risk is not that MNDO finds itself in bankruptcy in the short term. The company’s activity is recurrent, with licenses that last more than a year. The problem is that the trend is towards fewer and fewer customers, who are not replaced by new carriers.

In terms of supply, MNDO hosts its R&D operations in Romania. This is a price conscious decision, comparing a average salary of $800 in Romania with an average of 3.5 thousand dollars for Israeli workers. This likely helped the company stay competitive and profitable.

Looking for new business

MNDO management has repeatedly stated that the company is looking to acquire business in other software segments. The company also has a cash reserve of $15 million which it plans to use for this purpose.

Chart
Data by Y-Charts

While many companies would have rushed to acquire any business at any price just to promote a new business segment, MNDO took it easy. To me, this signals positive characteristics of management, seeking to protect the company’s long-term prospects rather than pumping the stock on the basis of promises.

I think it has to do with the position of management in the company. In particular, the company’s president and CEO, Monica Iancu, is the largest shareholder with 16.5% of the shares. This means that the company’s chief strategist has a lot of skin in the game. This again helps to align interests.

The above gives me confidence that when and if MNDO acquires another company, it will certainly be beneficial to MNDO shareholders.

For example, MNDO’s acquisition of two mobile messaging solution developers in Germany in 2019 proved highly accretive. Bought for just $3.2 million, the companies already generate half of MNDO’s revenue and up to 25% of its operating profit. More information was provided in my February article.

Recent neighborhoods, calm before the storm?

Information published by MNDO since I published my last article on the company has not changed my understanding of the situation.

The AF21 20-F The annual report showed that the Telco CRM segment was not losing momentum yet, and mobile messaging was growing its revenue rapidly, reaching half of that year’s business. MNDO pointed out that part of the revenue from the messaging segment was non-recurring and therefore should be expected to decline.

In 1H22 the situation has not changed either. Revenues fell slightly in 2Q22 vs. 4Q21 ($6m to $5.2m), as was net income ($1.5m to $1.2m per quarter), but it’s not something outside of economic cycles regularly, as shown in the graph below. Indeed, MNDO was able to renew contracts and resell licenses to two major customers in the telecom sector.

Chart
Data by Y-Charts

But this relative calm should not make investors forget that the real risk, that of a slow but almost certain disappearance of customers in the telecom segment, is still there. This risk can only be mitigated by regulatory measures against the consolidation of telecommunications operators (eg in the case of Vodafone in Europe) or by the growth of MNDO in different segments.

Another risk, mentioned by Donovan Jones in a recent article on MNDO, is the company’s exposure to Europe. As the situation on the continent shows sign after sign of weakness, one wonders if the MNDO could be affected. My view on this issue is that the messaging industry may be negatively affected, but the CRM telecom industry may actually be favored by a crisis in Europe.

Messaging is displaced by advertising and customer interaction, this segment can certainly be affected if there is less money to spend on advertising or if customers are less active.

In contrast, CRM activity is displaced by the number of subscribers of each operator, and it is unlikely to decline too much during a crisis. The risk of a carrier switching to in-house developed software is also lower, as this transition would require investments in software and training which are less likely in a financially strained situation. The carrier cannot function without CRM and is therefore more tied to MNDO’s products.

Is the price cheap?

Since I recommended a hold rating on MNDO in February, the stock has lost almost 27%, compared to 17% for the Russell 2000 and 16% for the Israeli TA AllShares.

Today, the company trades at a market capitalization of $44 million, against an average annual revenue of $5.2 million. MNDO’s ADR price of $2.21 promises an annual dividend yield of 9% after taking into account a 25% Israeli withholding tax.

Chart
Data by Y-Charts

Another possible benefit is to participate in the expansion of the company into new segments through accretive acquisitions. The problem with this advantage is that it is highly speculative. While I am convinced that MNDO’s management exercises judgment when evaluating potential acquisitions, betting on them finding one based solely on good intentions does not sit well with me.

In my opinion, MNDO could very well continue to generate the same level of profits that it has generated for much of the past decade, but that is beyond its control. Their future results depend on Europe not moving towards the consolidation of telecommunications operators.

The situation would be different if mobile messaging represented a larger share of their business, or if they had already diversified into other segments.

I prefer to watch from the fences in this case. If MNDO can grow the mobile messaging segment, and especially if it can make a promising acquisition, it might get more interesting.

]]>
FTX.US Chairman Brett Harrison Resigns https://progpulsion.com/ftx-us-chairman-brett-harrison-resigns/ Wed, 28 Sep 2022 03:26:39 +0000 https://progpulsion.com/ftx-us-chairman-brett-harrison-resigns/ Brett Harrison, the chairman of cryptocurrency exchange FTX.US, announced via social media Twitter on Tuesday that he was stepping down from his role but would remain on the exchange in an advisory capacity. “Over the next few months, I will be transitioning my responsibilities and into an advisory role within the company,” Harrison said on […]]]>

Brett Harrison, the chairman of cryptocurrency exchange FTX.US, announced via social media Twitter on Tuesday that he was stepping down from his role but would remain on the exchange in an advisory capacity.

“Over the next few months, I will be transitioning my responsibilities and into an advisory role within the company,” Harrison said on the popular social media platform.

According to his LinkedIn profile, Harrison took over as chairman of FTX.US in May last year. But now he leaves at a time when the crypto exchange is acting as a “white knight rescue” for struggling crypto businesses amid a market downturn that has plunged most trading activity.

“This industry is at a number of crossroads. The one that matters most to me, as a financial technologist, is the intersection of the arrival of larger market players and the increasing fragmentation and technological complexity of the market landscape,” Harrison wrote on social media. media.

Although Harrison did not say what he plans to do next, he said that “I remain in the industry with the goal of removing technological barriers to the full participation and maturation of global crypto markets. , both centralized and decentralized”.

Prior to joining FTX.US, Harrison worked for nearly two years at market maker Citadel Securities. Previously, he was Head of Trading Systems Technology at investment firm Jane Street for 7½ years.

Is the current financial crisis the cause of the departure of executives?

Harrison’s departure is one of several other high-profile recent resignations that come at a time when the upheaval in the crypto market has cost thousands of job losses and triggered a series of consolidations.

A series of successions are setting the stage for a changing of the guard in the roughly decade-old industry. Many of crypto’s most prominent leaders, such as Michael Saylor, Jesse Powell, are technologists who discovered digital assets early on, cultivated big followings, and weren’t shy about expressing what they believe online. .

The wave of change began in early August with Saylor, who founded MicroStrategy in 1989, announcing his resignation as the company’s longtime CEO to focus more on Bitcoin. Two weeks later, the CEO of struggling crypto broker Genesis, Michael Moro, resigned.

On August 24, Sam Trabucco, the co-CEO of Alameda Research – the trading company founded by FTX CEO Sam Bankman-Fried, announced his resignation to “put other things first.”

Last week, on September 21, crypto exchange Kraken announced that its co-founder Jesse Powell would step down as CEO and be replaced by COO David Ripley. And yesterday, the CEO of bankrupt credit company Celsius Network, Alex Mashinsky, also announced his resignation.

Image source: Shutterstock

]]>
NJ’s closed Catholic churches find new life as homes, community centers and more https://progpulsion.com/njs-closed-catholic-churches-find-new-life-as-homes-community-centers-and-more/ Sun, 25 Sep 2022 14:01:00 +0000 https://progpulsion.com/njs-closed-catholic-churches-find-new-life-as-homes-community-centers-and-more/ Our Lady of Grace was once a vibrant community center in the small borough of Somerdale, County of Camden. The imposing red-brick Catholic church held weekly masses and hosted baptisms, weddings and funerals as the great organ blared from its balcony. But over time church attendance dwindled and the parish was consolidated into another nearby. […]]]>

Our Lady of Grace was once a vibrant community center in the small borough of Somerdale, County of Camden.

The imposing red-brick Catholic church held weekly masses and hosted baptisms, weddings and funerals as the great organ blared from its balcony.

But over time church attendance dwindled and the parish was consolidated into another nearby. Our Lady of Grace has stood empty for years on a stretch of White Horse Pike near a Wawa and a rental car agency.

Now the church and its neighboring buildings are ready for their next act.

Our Lady of Grace will soon become Reserve at Grace — a restaurant, community center and 84 apartments, including some for seniors. The first phase, including age-restricted units, is expected to be completed this year.

“One of the things that creates a lot of flexibility is the fact that you’re turning a tax-exempt property into a taxable entity,” said Somerdale Mayor Gary Passanante. “So it’s sort of a win-win for everybody.”

As Catholic schools continue to see enrollment decline and parishes are consolidated or closed, a growing number of New Jersey communities are facing complex questions about what to do with aging church buildings.

In 1971, there were more than 600 Catholic schools in New Jersey, according to the National Catholic Educational Association. Last year there were just under 200 Catholic schools. Parishes, presbyteries, convents and other Catholic institutions also suffered significant declines, resulting in consolidations and vacant buildings.

Dioceses sometimes sell or lease properties that are no longer needed “in a way that best serves the mission of this religious community,” said Rayanne Bennett, spokesperson for the Diocese of Trenton, one of five Catholic dioceses. from New Jersey.

“This may mean that some properties are sold and the resulting revenue is dedicated to parish or school needs, or other initiatives,” she said. “There is consideration to find a buyer or tenant who will benefit the community as a whole, and often the property is leased to another non-profit organization.”

In the case of Our Lady of Grace, the church was closed for almost a decade when Passanante, the mayor of Somerdale, came up with the idea of ​​converting it into a mixed-use development.

In 2018, the township purchased the 2.5-acre complex, including the church, school, rectory and gymnasium, for $1.2 million. He then immediately sold the property – excluding the church – to a developer.

Passanante was prompted to come up with a plan for the vacant property by the extinguishing of a nearby church.

After sitting vacant for several years, St. Gregory’s Catholic Church in Magnolia was demolished in 2016 and turned into a Royal Farms convenience store.

The mayor said he didn’t want that to happen in Somerdale. The transformation of the former Church of Our Lady of Grace into a reserve at Grace will save the building and collect tax revenue. The solution has the support of both the township and Catholic leaders, he said.

A new entrance to the old church is under construction at Reserve at Grace in Somerdale, NJ on Thursday, September 15, 2022.David Hernández | For NJ Advance

For some vacant properties, converting old churches and religious buildings into affordable housing is an ideal solution – merging community needs with part of the church’s mission. Others are creatively turned into restaurants and convenience stores, while still others are touted as potential public health sites.

The Township of North Bergen recently purchased an 82-year-old church hall that once belonged to St. Rocco’s Catholic Church across the street.

No final decision has been made on its use, but it is likely to be used as a public health site, said township spokesman Phil Swibinski. The site’s prime location – adjacent to City Hall – “makes it a natural choice for municipal government purposes,” he said.

In Jersey City, St. Bridget’s Retirement Residence opened in July 2014, after consolidating several parishes.

St. Bridget’s Parsonage, Convent and School, consisting of two three-story buildings and one five-story building, was converted into a seniors’ residence with 43 affordable housing units. Some apartments have been specifically reserved for people with disabilities or elderly people in poor health.

Years later, St. Bridget’s Church was also sold for conversion into apartments.

Christopher Garlin, a managing member of the RCG Development Group, one of two companies that developed St. Bridget’s seniors’ residence, said he was approached by a pastor who said the campus was underutilized and could be turned into affordable housing.

This type of scenario “gives the church the opportunity to deal with, obviously, the economic challenges it faces, which is one of the reasons it is looking to divest these properties or lease these properties. But, it’s also an opportunity to address a very pressing social need,” Garlin said.

Vacant religious properties are often found in urban communities where the church has contracted the most, Garlin added.

In the past, neighborhoods may have been filled with large families who sent several children to Catholic schools. But as these families age and move out — and the area gentrifies — adding more housing may be a priority, said David Murphy, director of the Church Properties Initiative program at the Fitzgerald Institute for Real Estate in Washington. University of Notre Dame.

“I think the beauty of the church is that it’s so local and so particular to its community,” he said.

Murphy oversaw a 2021 report that found that converting underutilized properties into housing, community centers or other spaces can further the mission of the church, while sometimes generating revenue. But whatever the property becomes, it should reflect a community need, Murphy said.

“I think if you’re still serving the community in some capacity, that’s what the church is there for, whether the church is still open or not,” he added.

Converting church buildings comes with challenges. The churches themselves have large open sanctuaries and were “built for a particular purpose, which was a mass,” Murphy said. This makes it more difficult to repurpose the building.

Churches were usually built decades ago and may have issues with asbestos and lead paint. This often leads to costly renovations.

But buildings are also often located in central locations, considered social and community centers in the past. Parsonages and religious schools are easier to redevelop and lack many of the sacred or cultural complications that come with converting churches that were once centers of worship, Murphy added.

Redevelopment of St. Bridget's Church

As of August 2021, St. Bridget’s Church in Jersey City was being redeveloped into apartments. (Reena Rose Sibayan | The Jersey Journal)

However, not all church building conversion plans are successful.

In Asbury Park, a developer was rebuffed by the township when he tried to buy Holy Spirit Catholic Church, said Elisabeth Wendel, the listing’s real estate agent. The deal has not yet been concluded.

Other churches wanted the property but couldn’t afford the $2.75 million listing price, she said.

The developer, Mountain View Developments, has proposed several plans, including housing. The canton has so far rejected proposals for develop the Holy Spirit Church property.

In other cities, Catholic churches on the Register of Historic Places may face additional challenges once they are no longer needed, said Matthew Manion, faculty director at the Villanova University Center for Church Management.

Church leaders should continually reassess their properties, in light of changing demographic and attendance trends, and make tough decisions that best benefit the church, he said. However, the desire to keep the buildings is understandable.

Manion said he once heard a bishop say, “For the past 100 years in the United States, unfortunately, the Catholic Church has done a better job of building buildings than building disciples of Jesus.”

Church leaders recognize that “we need to focus on discipleship and if our buildings help us do that, great,” he added. “But if they don’t, the mission is to train disciples.”

Our journalism needs your support. Please subscribe today to NJ.com.

Brianna Kudisch can be contacted at bkudisch@njadvancemedia.com.

]]>
Euro falls on Russian military mobilization, dollar and Swiss franc gain https://progpulsion.com/euro-falls-on-russian-military-mobilization-dollar-and-swiss-franc-gain/ Wed, 21 Sep 2022 13:34:43 +0000 https://progpulsion.com/euro-falls-on-russian-military-mobilization-dollar-and-swiss-franc-gain/ The euro is widely sold, as well as the pound sterling, after Russia announced a partial military mobilization. Reactions on European stock markets are, however, mixed. For now, the Swiss Franc is the strongest for today, followed by the Dollar, Canadian and Yen. Aussie and Kiwi are mixed. Focuses will now turn to the FOMC […]]]>

The euro is widely sold, as well as the pound sterling, after Russia announced a partial military mobilization. Reactions on European stock markets are, however, mixed. For now, the Swiss Franc is the strongest for today, followed by the Dollar, Canadian and Yen. Aussie and Kiwi are mixed. Focuses will now turn to the FOMC rate decision first, followed by BoJ, SNB and BoE tomorrow.

Technically, the EURUSD looks vulnerable to further sell-offs. The firm break of 0.9863 will resume a larger downtrend towards a 100% projection from 1.0368 to 0.9863, 1.0197 to 0.9296 next. Such a development, if it occurs, could also help lift EUR/CHF to the temporary low of 0.9530.

In Europe, at the time of writing, the FTSE is up 0.58%. The DAX is up 0.14%. The CAC is up 0.29%. Germany’s 10-year yield is down -0.039 at 1.899. Earlier in Asia, the Nikkei fell -1.36%. Hong Kong’s HSI index fell -1.79%. China Shanghai SSE fell -0.17%. The Singapore Strait fell -0.16%. Japan’s 10-year JGB yield rose from 0.0015 to 0.261.

EUR/CHF Holds Above 0.9530 Temporary Low After Selloff

The Euro is falling significantly today, especially against the Swiss Franc. The sale came after Russian President Vladimir Putin announced a partial military mobilization for the invasion of Ukraine. It is the first mobilization of its kind since the Second World War, and it would call up 300,000 reservists. Putin also warned that Russia has “various means of destruction”. “If the territorial integrity of our country is threatened, we will certainly use all the means at our disposal to protect it”, he said, adding that “this is not a bluff!”.

For now, EUR/CHF is still holding above the temporary low of 0.9530, and the resumption of the downtrend is yet to be confirmed. On the break of 0.9530, EUR/CHF should aim for a 61.8% projection from 1.0512 to 0.9550 from 0.9864 to 0.9269.

Fed to hike 75 basis points as 10-year yield resumes uptrend

The FOMC rate decision is the main focus of the day and another giant rate hike is expected. Based on current market prices, there is an 82% chance of a 75 basis point hike at 3.00-3.25% and only an 18% chance of a 100 basis point hike at 3.25-3.50%. Thus, the Fed has little chance of upsetting the markets.

The general rhetoric should remain unchanged, namely that the tightening should continue while the Fed is committed to bringing inflation back to its target. The biggest questions are about the new economic projections and the dot chart. Some hawkish surprise could be seen there, indicating a higher terminal rate for the current cycle and a longer period to stay there.

Here are some previews:

RBA Bullock: interest rate not yet restrictive

RBA Deputy Governor Michele Bullock said the 2.35% interest rate was not yet restrictive. But the powerhouse was already looking for opportunities to slow the pace of tightening at some point. The monthly inflation data to be released next week would have a lot of statistical noise and probably wouldn’t have much impact on the deliberations at the October meeting.

Regarding the asset purchased under the pandemic bond purchase programme, Bullock said the RBA suffered a mark-to-market loss of A$33.9 billion in 2021/22. This would leave the central bank in a negative net equity position of AUD 12.4 billion. But she added that since it has the ability to create money, the Bank can continue to meet its obligations as they come due and therefore is not insolvent… The equity position negative will therefore not affect the ability of the Reserve Bank to do its job.

AfDB cuts growth forecast for developing Asia to 4.3% and China to 3.3%

The Asian Development Bank has cut its growth forecast for developing Asia from 5.2% (April forecast) to 4.3% in 2022, and from 5.3% to 4.9% in 2023. She said: “The revised outlook is shaped by the slowing global economy, the fallout from Russia’s protracted invasion of Ukraine, more aggressive monetary tightening in advanced economies, and lockdowns resulting from the zero COVID policy of the People’s Republic of China.

As for China, growth forecasts have been revised down sharply from 5.0% to 3.3% in 2022, and from 4.8% to 4.5% in 2023. India were also revised downwards from 7.5% to 7.0% in 2022, and from 8.0% to 7.2% in 2023.

On the other hand, inflation forecasts have been raised from 3.7% to 4.5% in 2022, and from 3.1% to 4.0% in 2023, “due to the rise in energy prices and foodstuffs”.

USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 143.13; (P) 143.53; (R1) 144.11; After…

The intraday bias on USD/JPY remains neutral as sideways consolidations continue. A deeper pullback cannot be ruled out but the decline should be contained by 139.37 resistance turned support. On the upside, the breakout of 144.98 will resume a larger uptrend towards the long-term resistance at 147.68. The breakout there will target 161.8% projection from 126.35 to 139.37 from 130.38 to 151.44 next.

Overall the uptrend from 101.18 is still ongoing, part of the overall uptrend from 75.56 (2011 low). Further upside should be seen at 147.68 (1998 high). For now, the break of the 130.38 support is needed to be the first indication of a medium-term overshoot. Otherwise, the outlook will remain bullish even in the event of a deep pullback.

Economic Indicators Update

GMT Ccy Events Real Provide Previous amended
00:30 USD Westpac Leading Index M/M August -0.10% -0.15%
06:00 GBP Public Sector Net Borrowing (GBP) August 11.1B 7.5B 4.2B 2.1B
14:00 USD Existing Home Sales August 4.70M 4.81M
2:30 p.m. USD crude oil inventories 2.0M 2.4M
6:00 p.m. USD Fed interest rate decision 3.25% 2.50%
6:30 p.m. USD FOMC press conference
]]>
Lung Ultrasound vs Chest CT for Diagnosis of COVID-19 Pneumonia https://progpulsion.com/lung-ultrasound-vs-chest-ct-for-diagnosis-of-covid-19-pneumonia/ Mon, 19 Sep 2022 15:36:00 +0000 https://progpulsion.com/lung-ultrasound-vs-chest-ct-for-diagnosis-of-covid-19-pneumonia/ Lung ultrasound offers a non-invasive and effective diagnostic tool to monitor the course and stratify the prognosis of patients with COVID-19 pneumonia, according to the results of a study published in Respiratory survey. The researchers sought to assess the diagnostic accuracy of lung ultrasound (LUS) compared to chest computed tomography (CT) in determining the severity […]]]>

Lung ultrasound offers a non-invasive and effective diagnostic tool to monitor the course and stratify the prognosis of patients with COVID-19 pneumonia, according to the results of a study published in Respiratory survey.

The researchers sought to assess the diagnostic accuracy of lung ultrasound (LUS) compared to chest computed tomography (CT) in determining the severity of COVID-19 pneumonia. They also hoped to show correlations between the LUS score, percutaneous oxygen saturation (SpO2), and inflammatory markers.

Researchers conducted a prospective observational study at the Târgu-Mureș Pneumology Clinic, Mureș County Clinical Hospital, Romania, between January 2021 and March 2021. The study analyzed data from 48 adult patients diagnosed with severe acute SARS-CoV-2 infection and clinically active disease. respiratory infection. All participants underwent LUS, CT and blood tests upon admission.


Continue reading

The researchers found that the LUS had subpleural consolidations (70.8%), pleural irregularities with thickening/discontinuity (75%), and bilateral B-lines (97.8%). Uncommon ultrasound patterns were alveolar consolidation with pleural effusion (2%) and bronchogram (33%). They noted that LUS score cutoff values ​​of 14 or less and greater than 22 predicted mild COVID-19 (susceptibility [Se]=84.6%; area under the curve [AUC]=0.72; P = 0.002) and severe COVID-19 (Se = 50%, specificity (Sp) = 91.2%, AUC = 0.69; P = 0.02), respectively, and values ​​greater than 29 predicted transfer of patients to ICU (Se = 80%, Sp = 97.7%).

According to the researchers, the LUS score is positively correlated with the CT score (r = 0.41; P =.003) and increased with decreasing SpO2 (r= -0.49; P =.003), with decline in lymphocytes (r= -0.52; P =.0001). They added that patients with consolidation patterns had higher C-reactive protein and ferritin than those with B-line patterns (P =.03; P =.01, respectively).

Limitations of the study include observational nature without randomization or blinding, small sample size, selection bias, and lack of a convex transducer.

The researchers concluded that “the LUS is a useful, non-invasive, and effective tool for the diagnosis, course monitoring, and prognostic stratification of COVID-19 patients.” They added that “LUS had good diagnostic accuracy, evidenced by higher sensitivity and specificity in detecting COVID-19 severity types and predicting critical patient transfer to intensive care.”

Disclosure: Some study authors have disclosed affiliations with biotechnology, pharmaceutical and/or device companies. Please see the original citation for a full list of author disclosures.

Reference

Ciurba BE, Sárközi HK, Szabó IA, et al. Applicability of lung ultrasound in the evaluation of COVID-19 pneumonia: diagnostic accuracy and clinical correlations. Breathe survey. Published online August 8, 2022. doi:10.1016/j.resinv.2022.06.015

]]>
House to vote on bill to split joint student loans https://progpulsion.com/house-to-vote-on-bill-to-split-joint-student-loans/ Sat, 17 Sep 2022 17:32:43 +0000 https://progpulsion.com/house-to-vote-on-bill-to-split-joint-student-loans/ A short-lived federal program to combine married couples’ student loans has trapped dozens of borrowers into loans ineligible for debt relief initiatives, including President Biden’s recent announcement loan cancellation plan. Now, House Democrats are poised to pass legislation allowing borrowers to split their joint consolidation loans, giving them a new path to debt relief. The […]]]>

A short-lived federal program to combine married couples’ student loans has trapped dozens of borrowers into loans ineligible for debt relief initiatives, including President Biden’s recent announcement loan cancellation plan.

Now, House Democrats are poised to pass legislation allowing borrowers to split their joint consolidation loans, giving them a new path to debt relief. The House is due to vote Tuesday on the Joint Consolidation Loan Separation Act, which was approved by the Senate in June.

Sen. Mark R. Warner (D-Va.) and Rep. David E. Price (DN.C.) have introduced the bill three times since 2017. Despite garnering bipartisan support over the years, some Republicans feared allowing the Department of Education to break a contract based on a spouse’s word without any legal documents to back up their claims. abuse or neglect.

“We have some opposition, but it’s basically a bipartisan, bicameral bill and it’s satisfying to craft it on that basis,” Price said Friday. “It’s kind of an object lesson in how hard it is to do things that seem fairly obvious, and this one has always seemed obvious to me.”

Price and Warner broached the issue several years ago after separate meetings with voters desperate to sort out their student loans from former partners. Warner said he was contacted by a mother of two in McLean, Va., whose abusive ex-husband refused to pay her share of their joint loan, leaving her at risk of having her wages garnished while she was struggling to keep up with the payments.

Who is eligible for the new Federal Student Loan Forgiveness Plan?

For Price, the issue became a priority around 2014 after hearing from people who were also stuck in loans with abusive or irresponsible partners without any recourse. “We’ve heard of cases of domestic violence that have not only made reconciliation impossible, but also joint responsibility for those bonds,” Price said. “The consequences have been severe, people’s credit being ruined, wages being seized.”

More than 14,700 people combined their debts through the spousal consolidation program between 1993 and 2006, according to federal data obtained by the Student Borrower Protection Center. The couples agreed to be held equally responsible for each other’s student debt in exchange for a one-time payment and a lower interest rate.

The program’s shortcomings became apparent when borrowers realized there was no way to break joint debt, even in cases of domestic violence or divorce. Congress ended spousal consolidations in 2006, but failed to provide people with a way out of the program. Although many loans have been paid off over time, there are still about 770 loans left, according to federal data.

“There aren’t enough of us to impact an election, so there hasn’t been a lot of political motivation to do anything,” said Lori Klein, 58, a single mother of two in Raleigh. , North Carolina, who added, “Anyone can see how crazy this situation is. She’s been struggling to repay a loan to her husband for she said her husband abandoned the family and moved to Turkey in 2006.

At the time, Klein was a stay-at-home mom with no source of income, $300 in savings, and $68,000 in joint student loans. Her husband made no payment and provided no alimony. Klein postponed her loan repayments as she tried to keep the family afloat. Accrued interest has brought the balance to over $205,000 to date.

People with student loans from the old federal program seek relief

“It was a blessing to get out of the relationship and not see my kids grow up with someone like my ex-husband, but this debt has been a dark cloud that has weighed on me for years,” she said. . “If I can get it under control, I could save aggressively for retirement.”

If the legislation is approved and enacted, borrowers like Klein could segregate their loans based on the initial proportion they brought. Since her student loans were approximately 58% of the original obligation, she would be responsible for that amount only.

Under the bill, the two new federal direct loans would have the same interest rates as the joint consolidation loan. Each borrower could also transfer eligible payments made on the joint loan to the Civil Service Loan Forgiveness Program, which clears civil servants’ balances after 10 years of payments and service.

That last perk is particularly appealing to Michelle Gladu, a social worker in Syracuse, NY, with $50,000 in student debt. Gladu, 55, discovered the limitations of spousal consolidation last year when she tried to take advantage of a temporary loan forgiveness program extension.

Gladu had heard of people with loans from the former Federal Family Education Loan Program consolidating their debt to take advantage of a waiver temporarily expanding access to the Civil Service Loan Forgiveness Program. But she learned that she could not re-consolidate her joint loan to do the same.

“Being able to separate loans would mean I could ‘apply for the Public Service Loan Forgiveness Program’ or even the other recently announced Biden pardon,” said Gladu, who has worked in the public sector for more than 20 years. . “Not having that debt would be a big help as my husband and I get older.”

]]>
Perry County School Communities Show Courage and Resilience in Eastern Kentucky – Kentucky Teacher https://progpulsion.com/perry-county-school-communities-show-courage-and-resilience-in-eastern-kentucky-kentucky-teacher/ Wed, 14 Sep 2022 15:41:29 +0000 https://progpulsion.com/perry-county-school-communities-show-courage-and-resilience-in-eastern-kentucky-kentucky-teacher/ Courtney Hall, a 2nd grade teacher at Robinson Elementary, greets a student on her first day of school at the AB Combs campus. Hall is now focused on keeping his students stable. Photo by Caleb Bates, August 31, 2022. As floodwaters began to rapidly invade his community on July 28, Jamie Fugate found himself about […]]]>

Courtney Hall, a 2nd grade teacher at Robinson Elementary, greets a student on her first day of school at the AB Combs campus. Hall is now focused on keeping his students stable. Photo by Caleb Bates, August 31, 2022.

As floodwaters began to rapidly invade his community on July 28, Jamie Fugate found himself about three hours away and received panicked phone calls.

For Fugate, a Perry County principal, the Kentucky Association of School Administrators (KASA) conference in Louisville ended abruptly and earlier than expected.

“My wife called me around 2 am. She said there was water around our house. Then she called about 15 minutes later and she said it was our house,” said Fugate, principal of Robinson Elementary. “We had to save my family from a second story window.”

Fugate’s house has now been completely stripped and his school is considered a total loss.

Fugate’s story and that of others in eastern Kentucky school districts during the floods shows the courage and resilience that part of the state has long been known for. Far from major cities and resources, and deep in the mountains of coal country, many Eastern Kentucky residents have learned to rely on themselves and each other. Families, communities and schools have come together to survive.

In another Perry County community, Kylie Napier, a student at Buckhorn School (Perry County), lost her home that night.

“We stayed near (our property) for about 24 hours. It was still raining and we were trying to get out,” she said.

She was reunited with her father – who was looking for her – and safety.

“The water finally subsided and my father rode our cry, miles away, to pick me up. Then we came out. We were climbing mudslides, waving at people…everyone was trying to get out. There was no way out of there,” Napier said.

Courtney Hall, a 2nd grade teacher at Robinson Elementary, who spoke with Kentucky Education Commissioner Jason E. Glass during his visit to eastern Kentucky school districts Aug. 30-31 , said she was not focused on the damage to the school building where she teaches, but rather on the families and students she serves.

“The first thing I thought when I saw (the building) was ‘What about our children?’ We have so many children who live on the banks so I knew if it got that high in school then we had homeless children,” she said.

Judy Eversole, Family Resource Center/Youth Services Coordinator at Buckhorn School, continued to serve her buildingless community. She started by focusing on immediate needs, such as clothing, food and hygiene products.

She has now turned to long-term needs, striving to establish stability in the lives of her students.

“I still have a lot of families that need a lot of work, like in their house. And that’s going to be my next goal,” she said.

The flood recovery effort in Perry County is expected to take years. When Hall left the school building in May, she said she couldn’t imagine the scene she had returned to after the July floods.

An educator like generations of her family before her, Hall had planned to inherit a classroom from her aunt, who retired after four decades of service in Perry County.

Debris in front of a damaged building.

Piles of debris carpeted the Buckhorn School campus for weeks after the flooding. Many of the building’s doors were torn off their hinges, its fence was torn from its posts, and classroom items were covered in mud. Photo by Caleb Bates, August 31, 2022.

“Mud up to my knees, everything in my class was knocked down, gone. We dug in the mud trying to get pictures, whatever,” she said. “I graduated 8th grade there, I taught there, I grew up in that building. To see it full of mud and everything you worked for and everything the people you like worked, underwater… it was heartbreaking.

Perry County Superintendent Jonathan Jett aimed to give students some sense of normalcy at school, but with damage to facilities he was unsure how to go about it.

Jett said a district manager had floated the idea of ​​using the old AB Combs Elementary campus, a building that had been empty for half a decade after the schools consolidated. The building was once the largest elementary school in Perry County and housed over 700 students.

“We went over there, walked around the building, looked at things. I said, “That might work out well,” Jett said.

However, the school needed repairs before it could be used.

“We had volunteers, our classified personnel… came and worked even when there was no need. … It was so important to keep everyone together, we would have done anything,” Hall said.

One wing of the school is painted blue, for Robinson. The other is painted purple, for Buckhorn. The building opened for the new school year on Tuesday, September 6, nearly a month after the district’s scheduled start date of August 10.

“It could have been so easy for Superintendent Jett to say, ‘You students go here, the rest go here,’ but no. … He took the money and the time to build here, to redo it, to help us and to unite us,” said Dalton Day, a senior at Buckhorn School. “The building may be different, but we are together.”

While Hall’s inherited classroom at Robinson Elementary is unusable due to flood damage, she inherited a classroom in the AB Combs building.

“My aunt came over to help me decorate and she said, ‘You know this is your grandfather’s room, don’t you?’ and she asked me if I had chosen it. “No, it’s just a major coincidence,” Hall said. “To say that the room I’m in was my grandfather’s room. …

“He taught for almost 40 years in the county,” she said. “He ended his career here.

Emily Amis, a senior at Buckhorn School, had been looking forward to it last year.

“It means a lot to be here together in this building. This is my school, our school. … We are a family. It means everything. Some of us have been together since 3rd grade, kindergarten, preschool” “I couldn’t have made it anywhere else, especially since it was my senior year, my senior year. That means everything.”

For Hall, a building or an installation does not make a school.

A smiling student points at a camera.  She is in a classroom.

Students from Buckhorn School and Robinson Elementary complete their school year at the AB Combs Elementary campus, which had been closed for five years. Photo by Caleb Bates, August 31, 2022.

“I always say it’s a public school, but really it’s a community school,” Hall said. “It’s really about community.”

Although schools have had a tough time preparing for this school year, leaders say their hard work has paid off.

“To hug these kids, give them a fist bump or shake their hand when they get off the bus, it was worth it,” said Buckhorn School principal Tim Wooton, who was at the conference in Louisville with Fugate. when the flood happened.

District leaders plan to use the AB Combs campus for the remainder of the school year. As cleanup and rebuilding work continues, they hope to find a long-term solution to deal with the schools’ losses. For now, however, the schools are making a new home for their students.

“It’s been tough, but we have to move on,” Fugate said. “We rolled up our sleeves and made this building a home.

“We move forward.”

]]>
Oregon withstands fire evacuations and power outages in dry winds https://progpulsion.com/oregon-withstands-fire-evacuations-and-power-outages-in-dry-winds/ Sat, 10 Sep 2022 17:37:36 +0000 https://progpulsion.com/oregon-withstands-fire-evacuations-and-power-outages-in-dry-winds/ OLYMPIA, Wash. (AP) — Campers at an Oregon state park had to evacuate after a wildfire ignited and thousands of people in the state were left without power Saturday after the utilities have targeted cuts in an effort to reduce danger in dry and windy conditions. Late Friday night, the Clackamas County Sheriff’s Office announced […]]]>

OLYMPIA, Wash. (AP) — Campers at an Oregon state park had to evacuate after a wildfire ignited and thousands of people in the state were left without power Saturday after the utilities have targeted cuts in an effort to reduce danger in dry and windy conditions.

Late Friday night, the Clackamas County Sheriff’s Office announced the evacuation order from Milo McIver State Park, located about 38.6 miles southeast of Portland. Early Saturday morning, residents of several communities west of the park were told to be ready to evacuate.

Hoping to reduce the risk of further fires, Portland General Electric initially cut power to about 30,000 customers in 12 service areas, but that number rose to more than 37,000 on Saturday. Pacific Power shut down service to more than 7,000 customers in a small Pacific Coast community, where a wildfire burned two years ago, and in pockets southeast of the state capital of Salem. The number of Pacific Power customers without service rose to 12,000 on Saturday.

The largest fire in Oregon is the Double Creek Fire which is burning in the northeast part of the state near the Idaho border. By Saturday, the fire had burned more than 230 square miles (595 square kilometers). The North West Interagency Coordination Center said the fire spread 65 square miles (168 square kilometers) overnight.

In central Oregon, the Cedar Creek Fire east of Oakridge has burned nearly 81 square miles (210 square kilometers). Authorities on Friday ordered residents to leave the larger Oakridge, Westfir and High Prairie areas immediately due to increased fire activity.

The Van Meter Fire, which started on Wednesday, is burning on Mount Stukel about 21 kilometers southeast of Klamath Falls. One house and four structures were destroyed and about 260 structures are at risk from the fire, officials said.

In Washington state, the Goat Rocks Fire, south of Mount Rainier National Park, was sparked by lightning and caused the closure of US Highway 12 and the evacuation of neighborhoods to the east of the town of Packwood. Evacuations have also been issued for several Cowlitz County communities in response to the Kalama Fire in the Gifford Pinchot National Forest, southwest of Mount St. Helens.

A red flag warming in Washington remains in effect through Sunday evening, meaning high temperatures, low humidity and strong winds will complicate fire conditions.

___

AP reporter Gillian Flaccus contributed from Portland, Oregon, and Andrew Selsky contributed from Salem, Oregon.

]]>