The Fort St. John RCMP are on the lookout for a 2005 Grey Chevrolety Suburban that has been stolen from Charlie Lake.The Vehicle has the Lincense Plate 178 KNL. If you see this vehicle call 205-787-8140 immediately. Do not try and stop the vehicle or the occupants. Or you can call Crimestoppers at 1-800-222-TIPS.- Advertisement –
Limacol KO Football Tournament…All roads lead to the Ministry of Education Ground on Carifesta Avenue this evening, where the final encounter in the Limacol Knockout Football tournament 2018 season will be played between Police FC and Pouderoyen FC, who have battled relentlessly through the competition to arrive at this place in the highly anticipated final.The competition started with a total of twelve teams, namely: Guyana Police Force, Pele Football Club, Northern Rangers, Mahaica Determinators, Campton, Georgetown Football Club, Riddim Squad, Buxton Stars, Santos, Pouderoyen, Grove Hi Tec and Beacons Football Club.They were divided into three groups, and a no-holds-barred competition followed as each team tried their best to lay claim to the first prize of $600,000 and concomitant bragging rights.Despite missing out on ending at the top of their group, Police played well during the tenser quarterfinal and semifinal matches to book their place. Their last encounter, which was with the agile Riddim Squad, saw them playing a great defensive game, separating Riddim Squad from the goal throughout the game. The Police players even went above and beyond the call of duty, acting as goalkeepers on many instances when Riddim Squad were within inches of scoring.Nevertheless, the lawmen posse’s scoring seemed to be off-target in the last game. Known as a team to capitalise on the second half, Police were able only to connect one goal for their win.Hailing from the West side, which some consider the best side, the Pouderoyen boys have fought their way out of a tough group (Santos, Grove Hi Tec and Beacons) to make it into the quarterfinal. In the semis, they met with the resilient and experienced Santos side, who held an advantage over them, having demolished them in their group encounter. Pouderoyen showed their worth by keeping Santos at bay and longing for a goal even after the 90 minutes had expired.This evening’s clash of the two top teams is sure to become a seismic event. Both teams possess great knowledge of ‘knock ball,’ a tactic that has proven to be helpful in the tournament. Police will rely on their excellent striking, as will Pouderoyen. Having made it to the final last year (against Western Tigers) and missing out, Police would want to arrest any negative change in their fortunes this time around.On the other hand, the youthful West side team are hungry for their first win. With both teams determined to take home the $600,000 cash prize, this final will be one for the books. The action kicks off at 21:00hrs.Earlier on, at 19:00hrs, the third place play-off will take place between Santos and Riddim Squad. Those teams will battle for the third prize of $150,000. Second and fourth place will receive $300,000 and $100,000 respectively.The tournament is sponsored by the New GPC under their Limacol brand.
Manning said the cleaners have made three settlement offers to Pearson: $3,000, then $4,600, then $12,000. But Pearson was not satisfied and expanded his calculations beyond one pair of pants. Because Pearson no longer wanted to use his neighborhood dry cleaner, he asked in his lawsuit for $15,000 – the cost of renting a car every weekend for 10 years to go to another business. The bulk of the $65 million demand comes from Pearson’s strict interpretation of Washington consumer protection law, which imposes fines of $1,500 per violation, per day. Pearson counted 12 violations over 1,200 days, then multiplied that by three defendants. Much of Pearson’s case rests on two signs Custom Cleaners once had on its walls: “Satisfaction Guaranteed” and “Same Day Service.” He claims the signs amount to fraud. The case is set for trial June 11.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! WASHINGTON – A missing pair of pants has led to one big suit. A customer got so steamed when a dry cleaner lost his trousers that he sued for $65 million. Two years later, he is still pressing his suit. The case has demoralized the South Korean immigrant owners of the mom-and-pop business and brought demands that the customer – an administrative law judge in Washington – be disbarred and removed from office for pursuing a frivolous and abusive claim. Jin Nam Chung, Ki Chung and their son, Soo Chung, are considering moving back to Seoul, seven years after they opened their dry-cleaning business in the nation’s capital, said their lawyer, Chris Manning. “They’re out a lot of money, but more importantly, incredibly disenchanted with the system,” Manning said. “This has destroyed their lives.” The customer, Roy L. Pearson Jr., who has been representing himself, declined to comment. According to court documents, the problem began in May 2005 when Pearson became a judge and brought several suits for alterations to Custom Cleaners in Washington. A pair of pants from one suit was missing when he requested it two days later. Pearson asked the cleaners for the full price of the suit: more than $1,000. But a week later, the Chungs said the pants had been found and refused to pay. Pearson said those were not his pants, and decided to take the Chungs to the cleaners and sue.
But small employers cannot exercise those economies of scale. And because they typically are not rich enough to insure themselves, they are almost wholly dependent on insurance companies to provide health benefits. In the many states that do not closely regulate health coverage, small businesses have little bargaining power with the insurers. In a small workplace, as a result, if an employee or a covered dependent becomes seriously ill, or if someone has even a routine medical need such as maternity care, the entire group may pay the price through steeply higher insurance rates. “Almost any kind of situation where one employee has a serious health condition almost makes the group uninsurable because of cost,” said Kansas Gov. Kathleen Sebelius, a member of a group studying health care issues for the National Governors Association. Sebelius, a Democrat, is at work on a bipartisan proposal with the state’s Republican insurance commissioner that would insulate small groups by having the state provide backup insurance for the most expensive medical cases. But that only applies a patch to a bigger wound. In Massachusetts, which has embarked on a widely watched effort to make health insurance mandatory, the state plans to address the small-business issue by combining 800,000 small employers and 50,000 individuals into a single pool as a way to even out costs and increase their bargaining power. Over the years, small employers around the country, often led by chambers of commerce, have occasionally sought to band into regional groupings. But the efforts often led nowhere – especially because insurers tend to assume that many young, healthy workers will opt out, leaving them saddled with older, sicker enrollees. That is a big reason Massachusetts will require the young and healthy to join the pool, or pay into a state insurance fund if they choose not to buy coverage for themselves. The insurance rules already in place in some states do provide various buffers for small businesses. Nine states, for example, prohibit insurers from considering workers’ health status when setting rates for small groups. Those include Connecticut, New York, New Jersey and Maryland. A number of states also limit the size of yearly rate increases. Rates in California, for example, typically can rise no more than 10percent. But in many other states, it is essentially every mom-and-pop for itself. When the rates can leap with each new employee illness, the only recourse may be shopping for another insurer. That is what Varney’s did in 2005. The bookstore switched its coverage to Blue Cross and Blue Shield of Kansas after the previous insurer said it would raise Varney’s premium by 17 percent. The reason? Another employee, a 59-year-old woman who was a longtime Varney’s bookkeeper, had died of stomach cancer the previous year. Varney’s former carrier, Trustmark Insurance, based in Lake Forest, Ill., declined to discuss the case’s specifics. A Trustmark spokesman would say only that the bookstore had fared no worse over the years than the typical small employer. Blue Cross currently charges Varney’s about $16,500 a month. The Levins pay 80percent of that, asking their employees to pick up the rest. A typical share, for an employee and spouse, requires a monthly paycheck deduction of about $115. Even in states that impose government caps on rate increases, those protections may not cover all contingencies.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! Such are the challenges for smaller businesses in Kansas and the many other states where laws permit insurers to raise health premiums substantially for small employers when one worker incurs significant medical bills. And it is why, as state legislatures, Congress and presidential candidates of all stripes debate the growing problem of Americans without health insurance, the struggles of small businesses – which employ about 40percent of the nation’s work force – are likely to become a central issue. Small-business employees are one of the fastest-growing segments of the nation’s 44million uninsured; at present, they represent at least 20percent of the total, according to federal census data. And even modest-size employers such as Varney’s that say they remain committed to providing benefits find themselves wondering how long they can continue. The challenges make small business a particularly tricky piece of the nation’s health care puzzle, a problem compounded by the state-by-state jigsaw nature of insurance regulation. “There are 50 sets of state rules,” said David Fear, an insurance agent in Sacramento, who is president of the National Association of Health Underwriters, an agents’ trade group. With the rising cost of insurance, even the nation’s biggest employers are struggling to cover their workers. But large companies at least wield some clout with insurance underwriters and providers of care, and are usually solvent enough to insure themselves as an alternative to the insurance market. Either way, they can spread their health costs over a pool of employees large enough that any one worker’s medical bills don’t make big financial waves. To understand the challenges of insuring the health of the nation’s work force, consider Varney’s Book Store. After a long bout with emphysema, an employee at Varney’s, a family-owned business in Manhattan, Kan., died several years ago. But for Varney’s health insurer, her legacy lived on. The next year, the insurer raised Varney’s premiums by 28percent – even though most of the other three dozen employees were significantly younger and healthier than their departed colleague, who had been in her mid-70s. And Varney’s premiums continued to climb. “It was as if her medical history stayed on the books for an additional three years,” said Jeff Levin, 46, who runs Varney’s with his younger brother. “How can you justify projecting those costs forward?”
AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREWhicker: Clemson demonstrates that it’s tough to knock out the champAlmost five months after the Daily News portrayed this neighborhood as gripped by fear and intimidated by gang members, crime has declined steadily, parents are returning to the parks, and drug dealing is moving underground.Residents and police attribute the turnaround to a flood of officers now patrolling the nearly 2-square-mile area dubbed the Witch’s Hat for its geographic shape and its often deadly brew of violence, drugs and gangs.In August, Los Angeles Police Chief William Bratton ordered beefed-up patrols in this slice of the east side of North Hills and west side of Panorama City – with the number of officers dedicated to the zone jumping from eight to 50.One month later, total major crimes in the area dropped by 22percent, from 99 incidents to 77, while arrests rose by 22percent, from 484 to 588, according to Los Angeles Police Department statistics.And the decrease has continued, with 72 major crimes logged in the area in November and arrests skyrocketing to a recent high of 711 in October. “It shows that cops count,” said Deputy Chief Michel Moore, head of policing in the San Fernando Valley.The improvements come with the area as the focus of a crime-cleanup effort called the Safer Cities Initiative, targeting crime-plagued areas citywide. But while Skid Row and other places saw precipitous drops in crime, efforts in the Witch’s Hat had faltered until recently.“This Safer Cities Initiative is a program that shows, when a city is properly policed and deployment levels are that of other cities across the country, we see much safer streets, much safer communities,” Moore said.‘Zero tolerance’On a recent weeknight, more than 10 officers were on patrol under the supervision of Sgt. Adrienne Hamilton, who grew up in the neighborhood.She kept an eye on the black-and-white cruisers that rolled past the rows of apartments, taquerias and bars dotting the area, home to five gangs.Unlike regular patrol cops who respond to urgent calls, these officers are sort of jacks-of-all-trades. They know gang members by name, write traffic tickets and frequently talk to apartment managers about making their properties safer.“I am literally telling my officers, ‘Go out and clean up the area. Zero tolerance,’” said Hamilton, driving past an apartment complex where drug dealers and local gangsters used to jump a gate and escape police.But her officers worked with the apartment owner, who erected a 12-foot wrought-iron wall topped with curved spikes.“There’s still crime, but it’s not like it used to be,” Hamilton said. “You would see guys on the sidewalk drinking. You don’t even see that anymore. If you clean up the area, (criminals) can’t blend in anymore.”Despite the improvements, some who live in the Witch’s Hat say cops are targeting people indiscriminately, intimidating the heavily immigrant community.“I am not against the police,” said Jaime Rojas, an immigrant from El Salvador who with his wife, Ana, runs Ana’s Shoes on Parthenia Street. “The area here was a mountain of homeless and druggies. That has changed.“I am against when they stop people on their way to work. I have clients who say they don’t come here anymore because police detain so many people.”In September alone, police arrested 877 people for misdemeanor violations, up 163percent from the previous month, before the LAPD’s show of force in the neighborhood began, department figures show.In August, police handed out 15 curfew citations. In September, that jumped to 67.Worsening residents’ fears have been immigration raids in which the LAPD provided security for Immigration and Customs Enforcement agents. Although police say they don’t turn over those arrested to immigration agents, Rojas said even the appearance that the two agencies are working together puts people on edge.“There are so much police in the city, people are going to be afraid,” he said.Bryant Reyes, 18, and Jose Granados, 20, say that between them they have been questioned at least 10 times by police in the past three months.Neither is a felon, a gang member or a drug dealer. The two are just friends who like heavy-metal music and happen to be the age of many gang members police track.But because they are out late at night or wear hooded sweat shirts, they say, they are frequently stopped or followed.“I don’t feel comfortable anymore,” Reyes said.Officers frequently shine a light on him as he walks home, he said, and Granados said he was handcuffed when police thought he was making a drug deal.“The most embarrassing part is it happened in front of my father,” he said.Less fearDespite the complaints, police say their current strategy is the best way to clean up the community.“We are not just randomly stopping people to just stop them,” said Capt. Jorge Villegas, who oversees the LAPD’s Mission Division, which patrols the Witch’s Hat. “They are engaged in some type of behavior. That’s why we stop them.”And residents have noticed. Villegas said police are more frequently getting tips about drug dealers or other illegal activity from people who used to be too scared to say anything.“We are specifically looking for gang members, for drug dealers, for prostitutes and pimps,” he said. “The long-term goal is for us to pull the officers out of this area … so it can maintain itself. The only way that can occur is through economic development.”Plans to develop a 500-unit condo and retail project near Roscoe and Van Nuys boulevards are already under way, City Councilman Richard Alarc?n said.And every weekend since the Daily News wrote about problems in the area in July, Alarc?n has sponsored neighborhood cleanup days, when residents bag trash strewn along the streets and call city dump trucks to pick up old couches and mattresses.He has even negotiated with 24 apartment managers to create a Neighborhood Watch in their area.“I am not ready to say that we are ready to claim victory. I want to do more,” Alarc?n said. “Until we have cameras in place, Neighborhood Watches in place, until we can put up every streetlight we can… and continue with the bulky-item pickup, I am not going to say that we are finished with the area.”‘Police come down’Back in North Hills, a band of young men that claim the Columbus Street gang are being detained by the mostly rookie cops who make up the unit.The officers, many of whom are almost as young as the gangsters themselves, shoot the breeze with them. They know each other by name.“We just stop them to see what’s going on,” LAPD Officer Nicok Girodano said.Juan Valverde, 19, stands a few yards back from Girodano. A gang member who says he’s been locked up in the past for robbery and selling cocaine, he shakes his head when asked how often he’s pulled over. Constantly.“You can’t be taking no risk no more,” he said.He recently has become a father and now is trying to lie low in Sylmar, away from the old neighborhood.“It isn’t how it was back in the day, where you used to shoot people and get away with it,” he said, shrugging.“Now, it’s like one gunshot and the whole police come down.”firstname.lastname@example.orgIF YOU GO There will be a peace march at 6 tonight through a portion of the Witch’s Hat neighborhood. About 500 people are expected to attend. It will begin on Parthenia Street near Langdon Avenue.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! NORTH HILLS – Leaning against her rake in her front yard, Augustina Cervantes peered toward the end of the block across from North Hills Park, where just a few months ago heroin addicts roamed like zombies looking for a fix and violent brawls were commonplace as children played.Now Cervantes feels safe enough to come out at 10 p.m. and rake leaves in front of her small house festooned with Christmas lights.“It’s gotten so much better here,” said Cervantes, a 55-year-old grandmother who has lived on the same street for 16 years. “We don’t see people walking the streets all night anymore.”“There’s even less gang members,” grandson Julio Chavez, 15, piped in.
AD Quality Auto 360p 720p 1080p Top articles1/5READ MORECasino Insider: Here’s a look at San Manuel’s new high limit rooms, Asian restaurant “We want people to learn the importance of assets, which can lead to home ownership, which can then help them accomplish a lot,” said Rashi Kallur of Citibank. “It’s all about economic health.” For many parents of the Northeast Valley, the target group of the program, the main concerns range from credit card companies soliciting their children to getting out of debt. Many of them remain what financial institutions call “unbanked,” for several reasons, including a misperception that only U.S. citizens use banks or a distrust of savings accounts at institutions. “In the Spanish-speaking community, people do make money, but many times we don’t know how to make investments, how to make that money grow,” said Enriquita Fraire, a parent director for Colfax Elementary and Milikan Middle schools. Fraire, 40, said she is excited about passing on what she has learned to other parents. “We would like people to learn to save, instead of giving money to creditors,” she said. The long-term goal of the program, say organizers, is to help parents secure money to send their children to college, and to create a dialogue about how to be wise about money, said Kenn Phillips, director of education at the Alliance. VAN NUYS – For Maria Alcantar, her newfound knowledge about finances will trickle down to her community where it is needed the most. “For a woman, for a mother, this knowledge helps us become more independent,” said the 44-year-old Van Nuys woman. “Oftentimes in our homes, in our community, we let the men control the money. But if something should happen, if we get separated or divorced, the woman becomes lost.” Alcantar, along with 60 other Parent Center volunteer coordinators with the Los Angeles Unified School District, spent their Friday getting serious about numeracy, a cousin to literacy. Through the Economic Alliance of the San Fernando Valley and Citibank, the Parents Path to Success program will teach more than 300 mothers and fathers the truths about finances, such as the do’s and don’ts of credit cards, global money transfers and savings accounts. Alcantar, a parent director at Kittridge Elementary School, couldn’t agree more. “This country offers us so many opportunities,” she said. “But what good are the opportunities if we don’t know how to take them?” Susan Abram, (818) 713-3664 email@example.com 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!
RANKED Tony Cascarino backs Everton to sign two strikers for Carlo Ancelotti IN DEMAND Arsenal transfer news LIVE: Ndidi bid, targets named, Ozil is ‘skiving little git’ 3 Bonucci was handed the captaincy at Milan but the club missed out on Champions League qualification for the fifth consecutive year REVEALED TOP WORK moving on Where every Premier League club needs to strengthen in January three-way race LATEST TRANSFER NEWS Man United joined by three other clubs in race for Erling Haaland Juventus and AC Milan will complete a stunning swap deal that includes a pair of Chelsea targets, according to reports in Italy.The exchange will see Leonardo Bonucci return to Juve after 12 months away, while Gonzalo Higuain and Mattia Caldara, who were both linked with the Blues, head in the other direction. Kevin De Bruyne ‘loves Man City and wants to keep winning’, reveals father targets Liverpool’s signings under Michael Edwards – will Minamino be the next big hit? LIVING THE DREAM 3 Caldara, left, spent last season on loan at Atalanta and will now head to Milan with Higuain Bonucci, 31, left Turin for Milan last summer for £37million, and according to Goal now heads back to the club where he won six Serie A titles in seven seasons.The defender struggled at the San Siro, playing 35 league games but only able to help his side to sixth.Higuain was being lined up for a reunion with new Chelsea boss Maurizio Sarri after the pair first worked together at Napoli, but he will now join Milan on an initial loan, despite his arguments.The Argentine striker, 31, scored 55 goals in 105 Juventus games after signing for £80m two years ago. targets Top nine Premier League free transfers of the decade LATEST Higuain and Bonucci, teammates for a season at Juventus in 2016/17, are set to swap clubs The biggest market value losers in 2019, including Bale and ex-Liverpool star Cavani ‘agrees’ to join new club and will complete free transfer next summer 3 Chelsea confident of beating Man United and Liverpool to Sancho signing He is reportedly uncertain over the loan move, which offers him less in the way of long-term security than a permanent exit.Milan will pay an eye-watering £16m just to bring Higuain in on loan, with a further £32m due at the end of the season should they wish to buy him outright.The move offers an opening for new £99m man Cristiano Ronaldo to take up a central striker role at Juventus, after 450 goals in 438 games drifting in from the left for Real Madrid.Caldara, a 24-year-old centre-back, was linked to Chelsea after negotiations with teammate Daniele Rugani stalled, but he will too now join Milan as a replacement for the departing Bonucci.
Sean Coll and Helen Haworth who have developed Portsalon Luxury Camping on a beautiful location in Portsalon overlooking Ballymastocker Bay.Tucked away on a hillside overlooking the spectacular Ballymastocker Bay, Donegal’s newest tourist destination – Portsalon Luxury Camping – is home to the county’s first yurt site and it all came about thanks to a chance meeting at a music festival in England that led to love! Yurts are wooden framed, canvas-covered structures that originate in Mongolia, but the owners of Portsalon Luxury camping Helen Haworth and Sean Coll, found themselves living in one on their own site in Portsalon a few years ago, and from there the idea of developing the tourist attraction grew.Helen was brought up in Shrewsbury in England before moving to Leeds but after meeting Sean at a music festival and experiencing the long-distance relationship thing for a while – (because Sean was living in Portsalon), she had to make a choice. “We visited each other every weekend we could manage for a while and quickly decided we would like to be together.“I loved inner city Leeds with its colourful and crazy characters and the constant buzz of activity but I had been there a long time and along with the vibrancy of the inner city came all of the dark side too.“I was tiring of it and craving a more peaceful existence.“Sean was also the main carer for his mother who lives in Portsalon, so when we had to choose between Leeds and Donegal, there was only going to be one winner,” said Helen. Sean had inherited a site once owned by his granddad that had passed through the family in Portsalon and although he had lived there for a while, he had moved away for a number of years and spent time working in Stoke and London before his return.The house on the site had been left to the elements for a number of years, but when Helen decided to come to live in Donegal they began to think about renovations.“We initially stayed in a rented property in Letterkenny but wanted to be as close to the site as possible when the work was being done.However, Sean didn’t want to live in a caravan during the renovation as he had done this as a 10-year old-boy when he arrived in Portsalon from Glasgow.“I had seen yurts years ago at an environmental centre in Yorkshire and loved them and we had also seen them at festivals. “So, we decided on a yurt, bought a build your own yurt book on Amazon and went about building our own to stay in during the renovation.Specialist local carpenter Andrew Gibbons helped Sean and Helen with the wooden frame and Helen sewed the canvas on a small sewing machine to make the first yurt on their fabulous site.And, it was while living there during the house renovations, that the couple first had ideas about renting it out to make some money after they had finished the renovation.Those plans soon took on a whole new life. To sound out the idea at the start, Helen attended a Big Step event hosted by Donegal County Enterprise Board, moved on to a Start your Own Business Course and then took a place on Donegal’s first Discovery Zone programme where she really tested the idea to the limits.“It was tough and challenging – particularly as throughout the course we were living in a yurt with no electric – no broadband – and no water!However Donegal County Enterprise Board were amazingly supportive and allowed use of their offices etc.Discovery Zone left me with a good robust business plan and the presentations mid and end definitely put forward our idea to some important contacts.The plan to maybe rent out one yurt also became a much bigger and much more viable enterprise than it ever had been.Among the contacts made at those Discovery Zone presentations were staff members from Donegal Local Development Company.The project was then funded by DLDC Ltd under the Rural Development (LEADER) Programme 2007-2013 and with that assistance and grant aid – and a lot of perseverance from Helen and Sean – Portsalon Luxury Camping became a reality and already guests have been flocking to the site.“We’ve had all sorts of setbacks along the way but we just kept going and stuck at it and we now have five luxurious Yurts (four of them constructed by LPM Bohemia) on a breath-taking site.In keeping with the natural beauty of the surroundings, guests can enjoy fresh salad and herbs in season from the garden and fresh eggs from the hens on the site, but of course there are luxurious amenities as well including brand new toilet and shower facilities, a beautiful new kitchen/lounge for guests and even free wi-fi.Some of the first guests have hailed from England, Scotland, Northern Ireland, Canada, Germany, Dublin and Inishowen and the site has received terrific reviews on Tripadvisor.“People are very interested and they are keen to see something different and unusual doing well in the area.“To let everyone know what the place is like we are holding an open day on Saturday 28th June from 2pm-5pm so people can call and have a look around some of the Yurts and the site, Sean said.He added that more information about the site can also be found on their website www.portsalonluxurycamping.com or by finding them on Facebook and Twitter.IT WON’T ‘YURT’ YOU TO VISIT DONEGAL’S NEWEST TOURIST DESTINATION was last modified: June 25th, 2014 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:AttractionsBusinessFeaturesnewstouristYurt
AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREThe top 10 theme park moments of 2019 My beef, from what I’ve seen at more than half a dozen “investment seminars” and what readers tell me, is that some commission-driven “financial advisers” pushing these annuities are not telling the whole story. In the sales presentations I’ve attended (I cannot in good conscience call them seminars), the presenters have exaggerated if not misstated potential returns. They have glossed over if not ignored potential drawbacks. Only one speaker even mentioned the formulas these annuities use to credit interest, or the “caps,” “participation rates” and “spreads” that limit how much interest they would pay compared to the actual stock market index return. All that said, let’s hear good things about equity-indexed annuities. I actually agree with all of them: “Indexed annuities provide a safe haven and potentially can earn more than other safe-money alternatives such as certificates of deposit and traditional fixed annuities – which pay a set rate of interest, known in advance. They are designed to preserve principal while providing a decent return,” said Thomas C. Ewert, a certified financial planner in Wedowee, Ala. “Indexed annuities are not designed to compete with the stock market,” and their returns should not be compared to those of direct investments in stocks, which historically have produced greater returns, said Jim Kealing, a certified financial planner and certified public accountant in Newhall, Calif. Rather, indexed annuities “are designed to fill the void between a straight fixed annuity and the stock market, hopefully providing a better return than a fixed annuity without risk to your principal,” Kealing said. That last point is important. In my previous column I gave an example of how an annuity using a crediting method widely used today would have paid only 5.09 percent interest in 1999, a year the Standard & Poor’s Index went up 21.08 percent. That’s OK, you told me, but I should have pointed out that this 5.09 percent gain would have been preserved in 2000, 2001 and 2002, years the S&P 500 Index was down. So here are the numbers: From Jan. 1, 1999, through Dec. 31, 2002, $10,000 invested in this particular annuity would have grown to $10,590, while $10,000 in the S&P 500 Index would have shrunk to $7,567. “If the market did nothing but go up, equity-indexed annuities wouldn’t exist, and we’d all be sipping umbrella drinks on a beach somewhere,” said Jeff Goettsch, owner of a financial services firm in Mission Viejo, Calif. “But the reality is the market will go down, sometimes drastically, we just don’t know when,” and equity-indexed annuities shelter investors from those losses. Summing up: Although there are no guarantees, “the right indexed annuity can help many people achieve inflation-beating returns over an extended period of time,” Kealing added. “I see the problem as being a lack of discussion about potential returns from the type of crediting methods.” Exactly. The crediting method – the formula used to calculate the interest you get, based on the return of the market index – is critical. There are many such formulas and most are too complex to cover here. My point is that, before buying an equity-indexed annuity, you should insist on being shown how the annuity would have performed under different market scenarios using the least favorable terms allowed in the contract (usually, the insurance company can change the terms, such as lowering return caps, from year to year). While such detailed disclosures are not required by law, you as a consumer can demand it and refuse to buy without one. For more on indexed annuities, you can check out the Web sites www.indexannuity.org, www.annuityfyi.com and www.annuityhq.com. Humberto Cruz offers personal finance advice each Thursday and answers readers’ questions each Saturday. Write him at firstname.lastname@example.org. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! Instead of questions, I’m getting barbs today. The people who sell equity-indexed annuities – at least those filling my e-mail in-box with lengthy messages every day – have some bones to pick with a recent column. I’ll give them their say because they make valid points. But first, I want to reiterate that I am not against equity-indexed annuities, just the way many of them are marketed. So you know what I am talking about, an equity-indexed annuity is a type of fixed annuity that pays interest based on the return of a stock market index, such as the Standard & Poor’s 500. In up years, your account will earn interest; in down years, you’ll suffer no loss. Even if the market index is down every year, if you hold the annuity to maturity the worst you’ll do is get a minimum guaranteed interest rate. But if you want your money back before maturity, you’ll get hit with surrender charges if you withdraw more than a certain amount each year.
HTML Box Score “We were fantastic tonight,” said Drake head coach Gareth Smith. “The guys were excellent defensively throughout the game with Darrin in goal and James Pendrigh leading the back line. Bradley has a very effective direct style on restarts and we had to be big in key moments.We created a number of chances on goal and we are encouraged by our dynamic movement going forward. Two great finishes by Wypych and Jaimes. These are tough games on the road, but we challenged our guys to find ways to win in difficult moments and they did.” Drake hosts Central Arkansas for senior night this Saturday evening at Cownie. First kick with the Bears is set for 7 p.m.Head coach @Coach_Gareth79 reflects on tonight’s hard fought overtime win versus Bradley pic.twitter.com/JUFlUxFzVJ— Drake Men’s Soccer (@DrakeMensSoccer) October 27, 2016 Live Stats PEORIA, Ill. – Sophomore Nic Jaimes (Olathe, Kan.) scored a golden goal late in the second overtime to lift the Drake University men’s soccer team past the Bradley Braves, 2-1, Tuesday, Oct. 26 night in Missouri Valley Conference action at Shea Stadium in Peoria. Central Arkansas 10/29/2016 – 7 PM Story Links Full Schedule Roster PDF Box Score The goal is the first of the season for Jaimes, who scored off an assist from redshirt senior Eric Williams (West Des Moines, Iowa). With less than two minutes remaining in the second overtime, Drake (5-9-1, 2-4-1 MVC) countered a Bradley (2-12-3, 0-6-1 MVC) attack as Bulldogs’ goalkeeper Darrin MacLeod (Waterloo, Ontario) sent the ball down the field and Williams collected a loose ball and then passed to Jaimes in the middle, who fired a shot in the top right corner of the net (108:23). Next Game: Preview The Braves forced overtime with a goal as regulation time expired. Bradley had a long throw in and off the loose ball Alex Garcia sent a one-timer over the head of MacLeod and into the back of the net. Senior James Wypych (Wellington, New Zealand) scored the first goal for Drake in the 71st minute (71:36). Bradley failed to clear the ball in front of its goal and Wypych finished from five yards out. The goal is fourth in the past two games for Wypych, who leads the team with seven this season. Comments from the game winner @tht_onekid . His strike propelled DMS over Bradley 2-1 in overtime! pic.twitter.com/373xBTQcjW— Drake Men’s Soccer (@DrakeMensSoccer) October 27, 2016Print Friendly Version