Rent strike wins in East LA

first_imgArtists and community fight evictions.Residents of the East Los Angeles neighborhood of Boyle Heights are savoring a rent-strike victory organized by a group of tenants. The Mariachi rent strike forced a rich real estate developer to sign the first-ever collective bargaining agreement between tenants and a landlord in Los Angeles.About half the tenants in the 24-unit building are Mariachi entertainers. They moved there to be near Mariachi Plaza, where these traditional performers gather to get paid gigs.Real estate developer Frank BJ Turner purchased the building with a plan to spike the rents of five to seven tenants at a time, each step giving him more leverage over the remaining tenants. Turner quickly demanded rent increases of 60 to 80 percent on seven apartments. He named the building “Mariachi Crossing” to exploit the culture even as he aimed to drive people out.Boyle Heights fights gentrificationDuring the Bill Clinton administration a plan was initiated to demolish federal housing projects and build smaller, single-family dwellings. A group of Boyle Heights women known as “Mothers of the Projects” blocked the bulldozers at three different housing projects. They demanded that the replacement housing be provided to neighborhood residents — at affordable rents — and they won.More mothers joined and they became “Unión de Vecinos,” Union of Neighbors. They have been fighting for the rights of Boyle Heights tenants ever since.Recently investors bought art galleries and apartment buildings in Boyle Heights. Apartment rents are rising. Low-income people are being forced out. Galleries that formerly featured local artists are being replaced by showrooms selling artwork for sometimes tens of thousands of dollars.Activists have disrupted “art tours” and protested gentrification. Unión de Vecinos has gained community esteem. Fernando Ramirez, an East L.A. resident, staff organizer for the United Electrical Workers and a tenant rights organizer, told Workers World: “We don’t want corporate art, we have our own art. None of these galleries has connections with our community. And there’s nothing wrong with homes being fixed and updated. But there’s a saying in the struggle: Your luxury won’t be our displacement!”Gentrification and spiking rents are plaguing all of LA, and working-class people have been fighting back. In 2015 the Los Angeles Tenants Union was formed and began opening chapters in different neighborhoods. Unión de Vecinos founded the Boyle Heights LA Tenants Union. The seven tenants who were suddenly facing unaffordable rent increases in early 2017 contacted the union.Their outreach emphasized their connection to Mariachis, the beloved icon in this Mexican community, and to expose the name and face of Frank BJ Turner. Other tenants joined the campaign and posters appeared all over the building. Social media got the word out widely.When Turner refused to meet, they kept up the pressure, calling a rent strike that lasted nine months. Each month they paid their pre-increase rent to Turner and put the increase in an escrow account. After returning the checks for two months, Turner began accepting them, while still demanding increases.‘See you at your house’Some 75 to 100 tenants demonstrated at Turner’s Beverly Hills office and then at his home in the lavish Rancho Park neighborhood. Clearly rattled, Turner’s office finally agreed to a meeting — if the tenants would just call off a planned demonstration. Although he wanted to meet only one tenant at a time, he finally agreed to meet a committee. After his lawyers offered practically nothing, the organizers walked out, saying, “See you at your house!” which they did.Turner’s lawyers asked the tenants to stop protesting at his house, but still wouldn’t offer anything. A second demonstration at his home was larger and drew other chapters of the LA Tenants Union.Even some of Turner’s wealthy neighbors brought food to the picketers, and the local media again covered the story extensively. Turner’s office offered deals to individual tenants, but no one broke their unity. Later in November, activists showed up at his home a third time — but this time they pitched tents on the sidewalk, and Mariachis performed late into the night.In early December, Turner’s office came to the bargaining table and the tenants won.Ramirez explained the agreement that Turner was forced to sign: “Of the nine months of extra rent withheld during the strike, the tenants were allowed to keep six months. The rent would increase by 14 percent, but each year after, the increase can only be 3.5 percent. When the agreement expires, Turner is legally obligated to negotiate again, which was something his lawyers opposed from the beginning. And maintenance of the building is in the contract.”Ramirez added: “We try to always link the immigration struggle with our tenants’ rights struggle, because Immigration and Customs Enforcement is driving people out and that makes the neighborhood even more vulnerable to these corporate thieves.“When they knock down a building and put up a new one, we want the rents to be appropriate for the median income of the people who live in the neighborhood so the same kind of tenants can move back in. We want to negotiate five-year contracts that spell out the limits on rent increases and to always have maintenance as part of the agreement.”Currently rent strikes are happening or being planned in four more Los Angeles neighborhoods, with a combined count of about 400 rentals.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

Trump Wants Produce Dumping Protection in NAFTA 2.0

first_img SHARE Facebook Twitter SHARE By NAFB News Service – Aug 15, 2017 Trump Wants Produce Dumping Protection in NAFTA 2.0 As NAFTA renegotiations begin on Wednesday, U.S. negotiators are planning to introduce a proposal aimed at making it easier for produce growers to bring potential anti-dumping cases against Mexico. That is a move that will make Southeast growers happy, but it could also fuel criticism of the Trump administration’s protectionism. The proposal would make it easier for U.S. fruit and vegetable producers to prove that Mexico is dumping produce into the U.S. at below-market prices. The current rule says U.S. producers need to prove damage by gathering three years of seasonal data.The new U.S. proposal would make it possible to prove dumping cases through using a single season’s worth of data. However, there are groups against the proposed move. Lance Jungemeyer, President of the Fresh Produce Association of America, called it a “Pandora’s box.” He says, “If tomato growers in the Carolinas do it (file a dumping complaint), if Florida does it, if New Jersey does it, you’re looking at what could essentially be a year-round tariff.” Jungemeyer’s group represents Mexican growers and advocates for free trade in produce across the Americas.Source: NAFB News Service Facebook Twitter Previous articlePoet Breaks Ground on 80 MMgy Expansion at Ohio PlantNext articleDicamba Damage Reports Still Climbing NAFB News Service Home Indiana Agriculture News Trump Wants Produce Dumping Protection in NAFTA 2.0last_img read more

Ocwen Mortgage Mods Helped Thousands Avoid Foreclosure Last Year

first_imgHome / Daily Dose / Ocwen Mortgage Mods Helped Thousands Avoid Foreclosure Last Year  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Foreclosure, Journal, News, Servicing The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: David Wharton Share Save Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] Tagged with: debt forgiveness Foreclosures Forgiven Mortgage Debt Mortgage Modifications Ocwen Ocwen Financial Corporation Demand Propels Home Prices Upward 2 days agocenter_img Related Articles Previous: The Four U.S. Cities Where Paychecks are Stretching Furthest Next: California Housing Market Surging After Wildfires The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Ocwen Mortgage Mods Helped Thousands Avoid Foreclosure Last Year debt forgiveness Foreclosures Forgiven Mortgage Debt Mortgage Modifications Ocwen Ocwen Financial Corporation 2018-03-28 David Wharton March 28, 2018 5,024 Views Falling behind in payments doesn’t have to mean a borrower is doomed to lose their home. Lenders and servicers are often willing to work with the borrower to find options that allow the borrower to remain in their home while they try to catch up and climb out of their financial hole. On Wednesday, Ocwen put a concrete figure to that broader truism, announcing that during 2017 the company had helped approximately 45,650 families avoid foreclosure and remain in their homes.Ocwen said that, of these nearly 50,000 borrowers, some Ocwen worked with directly, while others sought mortgage modification assistance through various non-profit agencies. Ocwen reported forgiving approximately $857 million in mortgage debt during 2017. Beginning in 2008 and leading up to December 31, 2017, Ocwen granted approximately 765,200 loan modifications nationwide and forgave more than $18.5 billion in debt.This type of borrower assistance is crucial given the makeup of Ocwen’s portfolio, which the company as being “comprised in large part of non-conventional mortgages that have higher than average delinquency rates.” As of December 31, 2017, the delinquency rate on Ocwen’s mortgage portfolio was approximately 9.3 percent.“Ocwen leads the industry in offering innovative mortgage loan modifications, and is proud to help homeowners across the country find solutions that allow them to remain in their homes,” said Jay Williams, SVP, Servicing Financial Operations, at Ocwen. “Given the challenging nature of our portfolio, it is incumbent upon the company to design products and strategies that serve a diverse customer base. Our 2017 borrower assistance results show that we continue to make progress in our effort to be one of the nation’s leading mortgage servicers.”Ocwen also revealed the states where it had completed the highest number of loan modifications, with California leading the pack. During 2017, Ocwen reported 5,450 loan modifications in the Golden State and $91.6 million in mortgage debt forgiven. Florida came in second, with 4,300 loan mods and $107.7 million in debt forgiveness, followed by New York (3,950 mods and $156.2 million forgiveness), Texas (3,050 mods and $12.6 million forgiveness), and New Jersey (2,325 mods and $113.2 forgiveness), respectively.You can read further state-by-state breakdowns of Ocwen’s 2017 loan modification history by clicking here. Subscribelast_img read more

Two men arrested near Strabane being questioned about Glenties/Dungloe burglaries

first_imgHomepage BannerNews LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Twitter WhatsApp Two men arrested near Strabane being questioned about Glenties/Dungloe burglaries Google+ By News Highland – November 5, 2014 Twitter WhatsApp Facebook It’s been confirmed that two men arrested in the North on Monday night are being questioned about a spate of burglaries around Glenties and Dungloe.As part of their investigations into these and other incidents, gardai are appealing for information about two cars.Two men arrested in Tyrone are being questioned about break-ins in the Glenties area.Last night there were a number of burglaries and break-ins in the Glenties and Dungloe areas. Cross border alerts were issued, and the PSNI are now liaising with gardai about two men who were arrested near Strabane in relation to another matter.We understand a number of the items which had been stolen earlier have been recovered.Gardai say the Text Alert scheme was an important element in getting that information gathered, and are urging people to participate in and use that scheme.Gardai are now trying to trace the movements of an 05 registered grey Astra car which they believe is connected to the Glenties incidents. However, they are rejecting reports that a pensioner was robbed.Meanwhile, as part of their investigations into what’s been described as a well planned break-in at a shop and filling station in Leitirmacaward on Saturday night, gardai are trying to trace the movements of a dark coloured Insignia car with a Northern Ireland regisration.Gardai have also renewed an appeal to businesses to be vigilant and review their security procedures. Google+center_img Pinterest Pinterest Almost 10,000 appointments cancelled in Saolta Hospital Group this week Previous articleMan with Donegal parents elected to congress in USNext articleDissidents give Co Donegal brothers 48 hours to leave county News Highland Facebook RELATED ARTICLESMORE FROM AUTHOR Need for issues with Mica redress scheme to be addressed raised in Seanad also Calls for maternity restrictions to be lifted at LUH Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Guidelines for reopening of hospitality sector published last_img read more

Evidence for a decline in the population density of Antarctic krill Euphausia superba Dana 1850, still stands: A comment on Cox et al. (J Crust Biol, 2018)

first_imgAntarctic krill (Euphausia superba Dana, 1850) exemplifies the key role of marine crustaceans in fisheries, foodwebs, and biogeochemical cycles. Ecological understanding and policy decisions require information on population trends. We have therefore worked with international colleagues to publish KRILLBASE, a database of fishery-independent krill population information for every decade since the 1970s. These data were used by Cox et al. (2018) who dispute the evidence for a late twentieth-century decline in krill density (number per unit area) in the Southwest Atlantic sector of the Southern Ocean and claim to overturn “much of recent thinking about climate-driven change in krill populations.” They support this claim with an analysis which reaffirms one non-significant result from an earlier paper but does not challenge the five significant results from that paper or those of other studies which support a decline. In this comment we examine the methods which led Cox and coauthors to conclude that krill density has been stable over the last 40 years. Although these authors provide a potentially useful approach, we show that their analysis was biased by the exclusion of usable net types, the inclusion of negatively biased data and down-weighting of high densities in the early part of the analysis period, the absence of recent data from the north of the sector, and a lack of statistical hypothesis testing. These factors maximise the chances of failure to detect a real decline. To aid future analyses we provide recommendations to supplement those which accompany KRILLBASE. We also suggest the need for consensus scientific advice on krill population dynamics based on agreed standards of evidence, evaluation of uncertainty, and a thorough understanding of the data. This will be more useful to policy makers and other stakeholders than polarised opinions. Meanwhile, the evidence for a decline in krill density still stands.last_img read more

BYU Softball Makes NCAA Tournament Field, Is In Top Seed Oregon’s Pod

first_img Tags: BYU Softball/Drake Softball/Libby Sugg/NCAA Tournament/Nicole Newman/Oregon Softball/Sarah Maddox Written by FacebookTwitterLinkedInEmailEUGENE, Ore.-Sunday evening, BYU softball, which has won 10 consecutive conference championships, learned it had made the NCAA Tournament for the 14th consecutive season as well.This is all the more impressive when one considers the Cougars have won their 10 consecutive conference titles in four different conferences.The Cougars, who are 35-20 on the season, learned via the NCAA softball selection show Sunday, that they will be placed in the Eugene, Ore. regional Thursday to face the Drake Bulldogs, the Missouri Valley Conference tournament champions.The Bulldogs, who are based in Des Moines, Iowa, are an impressive 43-10 on the season and have won five straight games, including a 4-1 win over the Southern Illinois Salukis in the MVC championship game Saturday.Should the Cougars advance out of this pod, they will have to vanquish the #1 overall seed of this tournament, the Oregon Ducks.BYU softball coach Gordon Eakin showed his appreciation for the Cougars’ selection, saying “Oregon has passionate fans and one of the best softball venues in the country. We are ready.”The Ducks, the Pac-12 champions, boast a record of 47-7 and have won 13 consecutive games, having last lost on April 15, suffering a 4-0 defeat at the hands of Arizona State.The Cougars are led by junior first base/catcher Libby Sugg, who posted 21 RBI in conference games on the season.Drake’s offensive star is sophomore infielder Sarah Maddox, who posted 30 RBI and 49 hits on the season.The star Drake pitcher in the circle is junior Nicole Newman, who has amassed 238 strikeouts, while posting a 21-3 record for the Buldogs.Should the Cougars win against Drake Thursday, they would play the winner of Oregon-Albany Friday at a time yet to be determined.If the Cougars lose to the Bulldogs, they move to the elimination bracket, as this is a double-elimination tournament. Brad James May 13, 2018 /Sports News – Local BYU Softball Makes NCAA Tournament Field, Is In Top Seed Oregon’s Podlast_img read more

Francois Lamontagne and Cassandra Kahle Lead the Way at HITS Ocala

first_img SIGN UP More from News:MARS Bromont CCI Announces Requirements For US-Based RidersThe first set of requirements to allow American athletes and support teams to enter Canada for the June 2-6 competition have been released.Canadian Eventer Jessica Phoenix Reaches the 100 CCI4*-S MarkPhoenix achieved the milestone while riding Pavarotti at the inaugural 2021 CCI4*-S at the Land Rover Kentucky Three-Day Event.Tribunal Satisfied That Kocher Made Prolonged Use of Electric SpursAs well as horse abuse, the US rider is found to have brought the sport into disrepute and committed criminal acts under Swiss law.Washington International Horse Show Returns to TryonTIEC will again provide the venue for the WIHS Oct. 26-31 with a full schedule of hunter, jumper and equitation classes. Email* Horse Sport Enews We’ll send you our regular newsletter and include you in our monthly giveaways. PLUS, you’ll receive our exclusive Rider Fitness digital edition with 15 exercises for more effective riding. Another great year in the ‘Horse Capital of the World’ is underway with ten weeks of USEF-Rated Hunter/Jumper competition, now through March 28, culminating with the seventh edition of the Great American $1 Million Grand Prix.Taking home the first win in featured jumper competition at the HITS Ocala Winter Circuit was Daniel Geitner and FAZOUS, for Oak Ledge Farm, in the $2,500 Open Welcome. The pair jumped double clear in a time of 37.060 to secure the blue ribbon.2nd Place: Hayley Waters & VITEL SOURDIN [38.398]3rd Place: Cassandra Kahle & HAJIME [4-Faults, 40.099]Competition in the Grand Prix Stadium continued on Thursday with the $5,000 HITS Open Prix, where Tracy Magness piloted INTENZ VAN HD for Mr. & Mrs. John Bartko to claim the top placing. Magness was the only rider to jump double clear with a time of 45.310.2nd Place: Waters & JUST LUCK [4-Faults, 42.476]3rd Place: David O’Brien & NIGHTSHADE SCF [4-Faults, 43.199]It’s no secret that Canadian Francois Lamontagne and his own CHANEL DU CALVAIRE are a team to watch out for. Friday afternoon, this duo took home top honors in the $25,000 SmartPak Grand Prix with the only double clear ride in 49.961.2nd Place: Aaron Vale & PRESCOTT [4-Faults, 46.725]3rd Place: Cassandra Kahle & PYRENES DE LOUZES [4-Faults, 48.997]Joining the Winner’s Circle to accept first place in the $5,000 Jumper Classic on Saturday was Jenni McAllister riding for Viksberg Sateri AB. McAllister crossed the timers aboard ESCADA VS in a time of 44.936 to secure the win.2nd Place: David Jennings & CENTDATUS PS [4-Faults, 45.071]3rd Place: Magness & CHOPIN DU CHATEAU HOLLOGNE [4-Faults, 46.351]Jumper Classic Winners$1,000 M&S Child/Adult Jumper Classic – Low: Kristina Gallo & CANTURINIO$1,000 M&S Child/Adult Jumper Classic – Medium: Caroline Earle & DIAMANT WP Z$2,000 M&S NAL/WIHS Child Jumper Classic – High: Pippa Spingler & QUONTINEDE LA ROUQE$2,000 M&S NAL/WIHS Adult Jumper Classic – High: Mercy Paine & CHAMBRINUS$2,500 Pyranha NAL Junior 1.25m Jumper Classic: Brooks Hull & CASCAL E$2,500 Pyranha NAL Amateur-Owner/Amateur 1.25m Jumper Classic: Amy Shafmaster & CARLOS$5,000 Jr/A-O/Am 1.35m Jumper Classic: Waters & GALOUS$5,000 U-Dump Jr/A-O/Am 1.45m Jumper Classic: Waters & VITEL SOURDINIt was déjà vu for Hunter Holloway as she clinched the top honors in the $50,000 HITS Grand Prix, kicking off the 2021 HITS Ocala Winter Circuit on a high note. Holloway, the youngest rider in the Grand Prix, won this same class last year with her mother’s Grand Prix Horse, LUCKY STRIKE. As Hunter reminisced, she shared how exciting it was to win the first Grand Prix of the season aboard PEPITA CON SPITA, owned by Hays Investment Corp. “This mare [Pepita] is awesome! She was imported about a year and a half ago by Hays Investment Corp. This is so exciting because last year we were just getting experience on her and getting miles, but now this year she’s really ready to come in and win it so you get to go for it,” said Holloway.Holloway showed ‘Pepita’ at the HITS Ocala Winter Circuit last year and explained that she was a bit more conservative to be sure to keep her confident and brave. “She’s such a careful horse and a quick horse so you really want to take your time with those types,” Holloway explained. Seven jumped clean in the first round with Holloway being the first to return – generally, a tough spot to be on a young horse with many Grand Prix veterans to follow.Hunter set the pace, marking a quick time of 30.301 and holding on to the first position through the remaining jump-off rounds. “For me, my plan never really changes too much, especially with a horse like her and at this point in her career where she is so quick and careful,” Holloway said as she recapped her jump-off.“Every time you go in that position, you’re lucky because you can just go for it. It’s not like she’s a little young, like last year, where we were taking our time. This year it didn’t matter if we went first, or last or in the middle because we were going to go for it either way.” The future is bright for the young mare and Holloway was excited to share that they have also just imported her [Pepita’s] daughter and is really looking forward to seeing her come along.Watch for Holloway in upcoming competition at the HITS Ocala Winter Circuit. “I’m really looking forward to the rest of the Circuit!” Holloway added. “We’re like one big family and that’s probably my favorite part about showing here.”2nd Place: Lamontagne & CHANEL DU CALVAIRE [30.747]3rd Place: Dorothy Douglas & MTM FIONA 621 [32.407]Featured hunter competition at the HITS Ocala Winter Circuit includes the Platinum Performance and Diamond Mills Hunter Prix, USHJA National and International Hunter Derbies, Hunter Classics and more throughout the season at HITS Ocala. Several special hunter classes are scheduled to take place in the Main Hunter Ring under new lights installed this year, giving hunters their time to shine.Cassandra Kahle rose victorious in the Main Hunter Ring aboard Redfield Farm’s GIVENCHY. Matching scores of 88 were awarded to Kahle in each round of the $10,000 Diamond Mills Hunter Prix for a 176 total and the blue ribbon.2nd Place: David Wilbur & CHARISMO [174]3rd Place: Megan Young & CAPITOL AFFAIRE [173.75]Cassandra Kahle and Redfield Farm’s GIVENCHY. (ESI Photography)No stranger to the Winner’s Circle is Katelyn Coveney with her MTM Fashion. Coveney earned scores of 86 and 87, respectively, totaling 173 and securing the win in the $1,500 Platinum Performance Hunter Prix.2nd Place: Katelyn Rezac & LORENZO [163.5]3rd Place: Andie Preblick & CUCHICA [162.5]Hunter Classic Winners$1,000 A-O Hunter Classic – 3’6″: Julia Nicole Zug & NEMESIS 11$1,000 Eastern Hay A-O Hunter Classic – 3’3″: Claire Parkinson & CHAZEAUX$1,000 Antares Junior Hunter Classic – 3’6″: Laurel Smith & FEDERER$1,000 Junior Hunter Classic – 3’3″: Coveney & MTM FASHION$1,000 Perfect Products Pony Hunter Classic: Lauren Reid & GOOD TIMES$500 M&S NAL/WIHS SmartPak Adult Hunter Classic: Paula Meunier & WESTERLY$500 M&S NAL/WIHS Child Hunter Classic: Schuyler Dayner & WINTER ROMANCEM&S Bit O’ Straw Hunter Classic: Charlotte Racine & CHECKMATEClick here for the full listing of results from the HITS Ocala January Classic. Subscribe to the Horse Sport newsletter and get an exclusive bonus digital edition!last_img read more

Burton’s Biscuit Company rolls out Maryland birthday cake minis

first_imgBurton’s Biscuit Company has extended its range with Maryland birthday cake minis. Its Maryland Minis Birthday Cake biscuits are Maryland Mini cookies topped with multi-coloured sprinkles. Available from mid-August, each multi-pack contains six 19.8g mini bags for an rrp of £1.The Maryland Minis range is the UK’s number one mini biscuit brand for kids, with a retail sales value of £10.4m, according to data firm Nielsen.Burton’s said it hoped the popular birthday cake variant would strengthen its position in the nation’s children mini biscuits market, which is worth £62.3m, it added.“We’re giving children the opportunity to enjoy a fun, colourful birthday-style biscuit which is ideal for inclusion in a lunchbox or as a mid-afternoon snack,” said Kate Needham, marketing director at Burton’s.“At less than 100 calories per bag, we’re also ticking the box for parents who want to give their children snacks and treats that are both convenient and permissible.”In 2019, Burton’s introduced the ‘Under 100 Cal Club’, a range of reduced-calorie biscuits offering consumers an increased choice of items at under 100 calories.Burton’s also unveiled a new branding and vegan status for its Jammie Dodgers range, including Jammie Dodgers Minis.last_img read more

Aryzta revenue improves as lockdown measures ease

first_imgBakery business Aryzta has seen continued improvement in organic revenue as lockdown eases in many parts of Europe.The frozen bakery specialist – currently the target of a number of takeover approaches – reported revenue down almost 50% year on year in April as a result of strict lockdown measures and the virtual closure of the foodservice market.But turnover has steadily improved since then, down 36% year on year in May and 23% in June.And the company today (11 August) reported revenue down 18% year on year in the month to 25 July.Revenue is down around 20% in Europe, with improvement in retail and quick-serve restaurants, although foodservice remains ‘significantly down’.The picture is similar in North America, although the market is volatile as some states and major cities reinstate restrictions.As restrictions loosen generally, Aryzta has increased production using adapted shift patterns, although many lines are still operating at reduced capacity. Currently, around 14% of staff are furloughed, down from 30% on 30 April.Aryzta has recently appointed Rothschild & Co to undertake a review of all strategic and financial options to maximise value for shareholders and stakeholders.And the company last month announced that a number of third parties had shown an interest in buying the business.An extraordinary general meeting will take place on 16 September, when chairman Gary McGann will step down as chair and a member of the board unless a deal for the business had been struck.Group chief financial officer Frederic Pflanz is to leave the business in December. News of Pflanz’s departure comes just weeks after the business announced that board members Dan Flinter and Rolf Watter had resigned and would leave Aryzta in September.Their departure followed demands in May by a group of Aryzta shareholders – Cobas Selección, Cobas International and Veraison Sicav – for a major shake-up of its executive board.last_img read more

Wood bags five-year contract with Saudi Aramco

first_imgOilfield services company Wood has secured a new multi-million dollar, five-year contract to support Saudi Aramco in the delivery of one of its mega-projects in the Saudi Arabia. Engineering and project management services to develop the Marjan oil field in the state’s eastern province will be provided under the contract, which is effective immediately, Wood said on Monday.The front end engineering design (FEED), major increment and overall project management consultancy will be executed from Wood’s Reading UK, Khobar, Saudi Arabia and India offices.The contract is part of Saudi Aramco’s multi-billion dollar Marjan Crude Increment Program; one of the company’s oil and gas mega-projects designed to enhance its energy sustainability, diversify the economy, expand gas production, and localize domestic content.Wood has worked with Saudi Aramco for more than 30 years. In November 2017, the two companies entered a memorandum of understanding demonstrating Wood’s continued commitment to creating and accelerating opportunities for local workforces in the Kingdom of Saudi Arabia.Robin Watson, Wood’s chief executive comments: “We look forward to working in close partnership with Saudi Aramco to bring our broad and enduring expertise in engineering and project management to this project, which is significant for both our client and the Kingdom of Saudi Arabia. Our focus will be applying our ingenuity, range of capabilities and in-country knowledge to ensure its safe and successful delivery.”Wood is also currently providing pre-FEED and FEED for Saudi Aramco’s Unconventional Gas Program and detailed engineering and procurement for its Sulphate Removal Facilities projects.last_img read more