What distress? Dry powder piles up with few discounts in sight

first_img Full Name* Tags Share via Shortlink Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Message* U.S. private equity funds had more than $250 billion to spend on commercial real estate loans as of March 23, according to Preqin, the news service reported. About $76 billion of that was earmarked for distressed debt.Still, investment funds are continuing to raise money or close on existing funds for real estate opportunities. Cerberus Capital Management closed a $2.8 billion opportunistic real estate fund Monday, surpassing its $2 billion target. Meanwhile, Oaktree Capital Management said it raised $4.7 billion for a real estate opportunities fund, exceeding its $3.5 billion goal.This comes as 30 percent of institutional investors are targeting distressed and opportunistic commercial real estate deals this year, according to a survey by CBRE.Investors might have to wait a while to see returns, if they ever do. JLL looked at $24 billion in potential debt deals last year, but only about $1.4 billion came to market, according to Sledge.[Bloomberg News] — Keith Larsen Contact Keith Larsen Email Address* Oaktree Capital CEO Jay Wintrob and Cerberus Capital CEO Steve Feinberg (Oaktree, Cerberus, iStock)After raising billions of dollars to spend on commercial real estate, distress investors are having a difficult time spending it.Despite projections of massive discounts in real estate prices, few have arisen. Banks have yet to write down loans and commercial property owners have had little incentive to sell.These factors, along with generous stimulus packages from the federal government, have led some investors “to push prices up and their yields down in order to simply deploy capital,” according to Will Sledge, senior managing director at JLL, Bloomberg News reported.Put another way, a lot of money was chasing a paucity of opportunities, creating a supply-and-demand dynamic that sustained pricing.ADVERTISEMENTRead moreThe art of the discounted dealBanks see CRE loan delinquencies hit 5-year highPricing gap stalls distressed asset investors for now Distressdistressed debtPrivate Equitylast_img read more

Combined influence of meso-scale circulation and bathymetry on the foraging behaviour of a diving predator, the king penguin (Aptenodytes patagonicus)

first_imgInvestigating the responses of marine predators to environmental features is of key importance for understanding their foraging behaviour and reproductive success. In this study we examined the foraging behaviour of king penguins breeding at Kerguelen (southern Indian Ocean) in relation to oceanographic and bathymetric features within their foraging ambit. We used ARGOS and Global Positioning System tracking together with Time-Depth-Temperature-Recorders (TDR) to follow the at-sea movements of incubating and brooding king penguins. Combining the penguin behaviour with oceanographic data at the surface through satellite data and at depth through in-situ recordings by the TDRs enabled us to explore how these predators adjusted their horizontal and vertical foraging movements in response to their physical environment. Relating the observed behaviour and oceanographic patterns to local bathymetry lead to a comprehensive picture of the combined influence of bathymetry and meso-scale circulation on the foraging behaviour of king penguins. During both breeding stages king penguins foraged in the area to the south-east of Kerguelen, where they explored an influx of cold waters of southern origin interacting with the Kerguelen Plateau bathymetry. Foraging in the Polar Front and at the thermocline was associated with high prey capture rates. However, foraging trip orientation and water mass utilization suggested that bathymetrically entrained cold-water features provided the most favourable foraging locations. Our study explicitly reports the exploration of bathymetry-related oceanographic features by foraging king penguins. It confirms the presence of Areas of Ecological Significance for marine predators on the Kerguelen Plateau, and suggests the importance of further areas related to the cold-water flow along the shelf break of the Kerguelen Plateau.last_img read more

Press release: ‘Limited Progress’ on ethical standards in outsourced public services: CSPL publishes latest report on ethical outsourcing

first_imgThe latest in a line of reports by the Committee on Standards in Public Life says there has been little real progress on measures to reinforce ethical standards in outsourced public services and calls for a consultation on whether the Freedom of Information Act should apply to private sector providers where information relates to the performance of a public service contract.Publishing its 2018 progress report today, Lord Bew, Chair of the Committee on Standards in Public Life, said: Today’s report shows that, disappointingly, very little progress has been made on implementing these recommendations and evidence shows that most service providers need to do more to demonstrate best practice in ethical standards. Following the corporate failures of a number of the biggest providers of services to government since 2013,including the devastating collapse of Carillion early in 2018, it is now essential that the government confirm their expectations of ethical standards among those who deliver services with public money.” The public is clear that they expect common ethical standards – whoever is delivering the service – and that when things go wrong there is transparency and accountability about what has happened. In particular, we remain concerned over the lack of internal governance and leadership on ethical standards in those departments with significant public service contracts. Departmental and management boards spend little, if any, time considering ethical considerations and tend to delegate such issues ‘down the line’. Those involved in commissioning and auditing contracts remain too focused on the quantitative rather than the qualitative aspects of their role. And departments lack clear lines of accountability when contracts fail. Our report in 2014 looked at departmental commissioning activity and the ethical standards of service providers and made a number of important and straightforward recommendations to enhance the government’s capability to commission services from providers who focus on high ethical standards in service delivery. The Committee on Standards in Public Life was established in October 1994 with the following terms of reference: “To examine current concerns about standards of conduct of all holders of public office, including arrangements relating to financial and commercial activities, and make recommendations as to any changes in present arrangements which might be required to ensure the highest standards of propriety in public life.” Additional terms of reference were announced on 12 November 1997: “To review issues in relation to the funding of political parties, and to make recommendations as to any changes in present arrangements.” On 5 February 2013 the terms of reference were clarified by the Government in two respects: ‘…in future the Committee should not inquire into matters relating to the devolved legislatures and governments except with the agreement of those bodies’ and ‘…the Committee’s remit to examine “standards of conduct of all holders of public office” [encompasses For] all those involved in the delivery of public services, not solely those appointed or elected to public office.’ Hansard (HC), 5 February 2013, Col 7WS .The Committee’s terms of reference were further clarified in a House of Lords written Parliamentary Question on 28th February 2013 to explain that the Committee’s remit means it “can examine issues relating to the ethical standards of the delivery of public services by private and voluntary sector organisations, paid for by public funds, even where those delivering the services have not been appointed or elected to public office.” Hansard (HL) Column WA347. The Committee remains of the view that more must be done to encourage strong and robust cultures of ethical behaviour in those delivering public services. To that end, the Committee reaffirms the recommendations made in its 2014 report and has made a further set of more detailed, follow-up recommendations to address particular issues of concern. To find out more about the Committee’s work go to the Committee on Standards in Public Life’s website The report can be downloaded online.Notes to Editors: Interview requests and media enquiries should go to Maggie O’Boyle on 07880 740627. You can follow the Committee on twitter @PublicStandards. While many service providers have developed a greater awareness of their ethical obligations in recent years, partly due to the high-profile failure of some organisations to adhere to these standards, some remain dismissive of the Nolan Principles or adopt a ‘pick and mix’ approach, which is not in the public interest. And many service providers continue to expect that setting and enforcing ethical standards remain a matter for government alone. The independent Committee on Standards in Public Life advises the Prime Minister on ethical standards across the whole of public life in the UK. It monitors and reports on issues relating to the standards of conduct of all public office holders. From waste disposal to health care and probation services, all kinds of public services are routinely supplied to many of us by private or voluntary sector organisations, paid for with public funds – accounting for almost one third of government spending in 2017. In particular, the Committee calls for service providers to recognise that the Nolan Principles apply to them, for greater moral courage among key financial and other professionals in securing and maintaining high ethical standards, and for consultation on the extension of the application of the Freedom of Information Act to private sector providers where information relates to the performance of a contract with government for the delivery of public services. The members of the Committee for this report are: Lord (Paul) Bew, Chairman, Rt Hon Dame Margaret Beckett DBE MP (Labour), Sheila Drew Smith OBE, Simon Hart MP (Conservative), Dr Jane Martin CBE, Dame Shirley Pearce OBE, Jane Ramsey, Monisha Shah, Rt Hon Lord (Andrew) Stunell OBE (Liberal Democrat) and Richard Thomas CBE. Richard Thomas CBE finished his 5-year term in office in May 2017. Sheila Drew Smith OBE, who led on this series of reports, finished her 5-year term of office in February 2018.last_img read more

Studying Japan from ancient to modern

first_img Harvard’s many research ties to that nation reflect broad engagement, as President Bacow visits In China, Bacow emphasizes common values During speech at Peking University, he also says universities are places that champion creative ideas and contrary views For lower-status, less-educated men and women, the picture is bleak for different reasons. Men who cannot land a stable job that will pay enough to support a wife and child generally remain single and childless, deemed undesirable in the marriage market. These men’s female peers who want to stay home and have a family and would otherwise be good matches also cannot start a family until they find a reliable male provider.“It’s the rigidity of what men’s and women’s roles are supposed to be within the family and also in the workplace” that is driving Japan’s low birth rate, said Brinton.Change won’t be easy. With a rapidly aging society (last fall, the Japanese government announced that for the first time, 20 percent of the population was 70 or older) and an ever-diminishing pool of young workers to keep the economy going, Japanese companies have been scrambling for solutions.Many big firms are trying to change corporate culture and, for example, encourage men to take childcare leave. But so far, these efforts haven’t made much difference. It has been tough to uproot ingrained cultural norms about gender roles and worries over cutthroat business competition if work hours are shortened.“If the Japanese government could convince companies to lower work hours, to look at productivity on the job in a different way than ‘face time,’ and to strongly encourage men to take at least some childcare leave, it would have positive ripple effects for the family, for gender equality, [and] for the fertility rate,” said Brinton. Looking to China for lessons on helping the poor Related Curating a classic ‘Genji’ exhibit at the Met Art historian Melissa McCormick brings Japanese masterpiece to life From ancient religious relics to present-day policy prescriptions to reverse demographic trends, researchers across the University are unraveling the mysteries of Japan.Ancient secrets revealedSome 80 years after a sculpture of the young Prince Shōtoku from Tokyo arrived in Boston, new research into the mysteries hidden deep inside this Buddhist icon will be revealed this spring at a new Harvard Art Museums exhibition.“Prince Shōtoku at Age Two” is a revered sculpture dating back to 1292. Known as “Japan’s Sakyamuni,” or historical Buddha, it is the oldest datable statue of its type in the world and the most admired for its quality and beauty.Made from Japanese cypress using an assembled woodblock method, “It’s spectacularly carved, the craftsmanship is exquisite,” said Rachel Saunders, Abby Aldrich Rockefeller Associate Curator of Asian Art at the Harvard Art Museums, who’s leading the research team.A promised gift of Walter C. Sedgwick in memory of Ellery Sedgwick Sr. and Ellery Sedgwick Jr. to the Harvard Art Museums, the sculpture will be featured in “Prince Shōtoku: The Secrets Within” beginning May 25.Though it is still ongoing, “This is the first time we felt that we could present that research in a way that’s meaningful,” said Saunders.That work is part of the longstanding, deeply collaborative relationship between scholars and students from across the University and Japan. The ties, dating back to the 19th century, remain strong today, and include programs that offer student internships at Japanese firms and study abroad in Kyoto through Harvard Summer School, which marks its 10th anniversary this year.On Sunday, Harvard President Larry Bacow will travel to Japan to meet with university presidents and other leaders, as well as Harvard alumni, to discuss the future of higher education following a six-day visit to China, where he spoke at Peking University.“Prince Shōtoku” was first brought to the U.S. in the late 1930s by Ellery Sedgwick Sr., then-owner and publisher of The Atlantic Monthly, who had purchased it during a trip to Tokyo. Not long after, while on loan to the Museum of Fine Arts in Boston, staff discovered and extracted 70 sacred objects, including tiny sculptures and bits of paper inscribed with prayers and poems, that had been stashed inside the statue’s hollow body and untouched for 700 years.,But World War II and the fractured relations between the U.S. and Japan that followed disrupted any further study of the statue until Harvard Professor John Rosenfield, a curator at the Fogg Museum, began his important work on the sculpture in the late 1960s.In 2016, Saunders taught a graduate seminar with Melissa McCormick, a professor of Japanese art and culture at Harvard College, and Ryuichi Abe, Reischauer Institute Professor of Japanese Religions. For their final project, the students were asked to select an object from the sculpture’s cache, research and interpret it. The work proved difficult, but inspired the Harvard-based team of nearly two dozen faculty, students, conservators, and Buddhologists from Nagoya University in Japan who have assisted with transcription of the texts, to delve even deeper.“It’s an extremely complicated object, not just the sculpture itself, but trying to understand what all the objects inside exactly are and what they mean together has been a very complex process, and so it’s really taken until now” to amass the necessary technical, institutional, and human resources in one place to study it properly, said Saunders.With record keeping less detailed than it is today, no one knew where the objects had been positioned inside the sculpture before they were extricated in the 1930s. Such information is important, as some items have more salience than others, so where they were placed inside would have had meaning, she said.“Some of the questions we had couldn’t be resolved by just looking at the sculpture from the outside in. We needed to look from the inside out, as well,” said Saunders.So the sculpture was X-rayed and then brought to the Harvard University Center for Nanoscale Systems for a CT scan that took two days to complete, but delivered a treasure trove of visual data.Most recently, Saunders and Angela Chang, a conservator and assistant director of the Straus Center for Conservation and Technical Studies, visited a number of temples and museums in Japan last summer to survey sculptures similar to “Prince Shōtoku” to compare and learn more from local curators about the different construction and preservation techniques used in the late 14th century, and also to share what the team had uncovered about the prince. At the exhibit, visitors will be able to see all 70 of the objects reunited with the sculpture for the first time and take advantage of a new online resource that will offer greater detail about the transcription and conservation efforts the research team undertook.“‘Shōtoku’ is very charismatic, and what we want to do in the exhibition is enable people to have a real encounter with him,” said Saunders. “He was created to do that. He was created to bring together ‘communities of empathy.’ He’s a center for people to gather around … he’s doing that here again at Harvard, though in a different context.”Modern challenges addressedHarvard’s interest in Japan extends from its ancient treasures to its modern challenges, including its low birth rate. Though the challenges in places with rapidly growing populations, such as many nations in sub-Saharan Africa, are well-known — famine, infectious disease, poverty — what is less understood are the causes and complications in countries where births are not keeping pace with deaths.Mary Brinton, Reischauer Institute Professor of Sociology and director of the Edwin O. Reischauer Institute of Japanese Studies at Harvard, has been studying the factors at work in countries with historically low birth rates in parts of Europe and East Asia, especially Japan. She and her team first interviewed young adults in low-birth-rate countries in 2012 and 2013 about their prospects and plans for parenthood. They are currently doing follow-up interviews to learn whether interviewees have had children and if not, why. The findings of her study and others suggest that there’s a “strong correlation” between low birth rates and high levels of gender inequality, particularly in Japan.Though Japan’s birth rate has been in decline for 30 years, a related cultural marker reached an ominous new peak in 2018: About 25 percent of women and more than 30 percent of men in their mid- to late 30s (a demographic often studied because it comes at the tail end of fertility) have never married. It’s a very high percentage for an industrialized country.The reason can be traced to rigid gender expectations that leave Japanese women and men with few choices when it comes to career and family life, said Brinton. Fewer than 5 percent of children are born outside of marriage in Japan. And to marry, the vast majority of young Japanese men and women expect a man to have a stable job so that he can be the sole, or at least the primary, breadwinner in a family.Gender inequality in wages, the very long work hours expected by employers, and the cultural expectation that women do nearly all of the housework and childcare mean that most full-time working women cut back their work hours or leave the labor force entirely when they have a child. If the husband is high-earning, having two or more children is possible, but only in this rare situation.Highly educated, career-oriented women face a stark choice. They can forgo marriage and children in order to meet the long work-hour demands, or they can marry and have children, and accept that an egalitarian marriage is nearly impossible given men’s long work hours. The women interviewed told Brinton’s team that men arrive home from work at 9 p.m. on average, with many arriving later. Even where there is a desire to divide household and childcare duties more equitably, nearly all of the women said it was simply impractical to expect their spouse to clean the bathroom or make dinner after working a 12-hour day.last_img read more

Winter Wonderland helps students destress, invites in South Bend community

first_imgEvery year leading up to winter break and finals week, the Student Activities Board (SAB) at Saint Mary’s hosts an event for children in the community and students to destress. Club president and senior Emma Freund helped make this year’s event possible.“Winter Wonderland is one of SAB’s longest-standing events,” Freund said. “I’ve helped plan it during all four years of my time on SAB, and I’m sure it will go on for many years after I graduate.”The event took place Saturday in the Reignbeaux Lounge. From 10 a.m. until 12 p.m., children from the community gathered for crafts, snacks and a visit from Santa. The second half of the event, from 2 p.m. until 4 p.m., was intended for the Saint Mary’s students, and included crafts, giveaways and a gingerbread house-building contest.“This event was created to help students celebrate the holidays during the stressful end of the semester,” Freund said. “It’s always been SAB’s goal to create events where students can take a break to come enjoy some good food and quality time with friends. This is also the only event involving the South Bend community, so it is especially important for us to put in the work necessary to make it a wonderful event for the children.”This year, around 150 children and over 300 Saint Mary’s students attended the event. Organizers had 300 hats to give away — and there were no left overs.Setting up an event of this scale is not easy, Freund said.“Winter Wonderland is such a significant event for SAB, and it wouldn’t be possible without the dedication and hard work of every single one of our board members,” Freund said.One of the board members, co-executive and junior Grace Nolan, helped with selecting the snacks and organizing the giveaways.“We have been planning this event since Oktoberfest was over,” Nolan said. “So, we have been planning it for about the past seven weeks. However, it really only took us a week or two to get the food and giveaways ordered.”Sophomore Lindsey Herdsman attended the event for her first time with her roommate and friends.“The main reason I originally wanted to go was for the free hat and the food, which was Chick-fil-A,” Herdsman said.Given all the activities available, Herdsman and her friends found that they stayed for much longer than they planned.“Once I was there, I made decorated ornaments and ate some candy canes,” Herdsman said. “It was such a fun event, and really got me in the Christmas spirit. I would definitely want to go again next year.”Tags: christmas, Student Activities Board, Winter Wonderlandlast_img read more

Chainsaw Safety

first_imgUniversity of Georgia Cooperative Extension is presenting chainsaw trainings designed to educate Georgia’s landscape and tree care workers on the safe use of chainsaws. The trainings will be offered between September and December at locations across the state. “A chainsaw is the most dangerous implement that you can buy in a store that does not require any training or a license. You don’t even need to read the manual to operate it,” said Ellen Bauske, public service associate with the UGA Center for Urban Agriculture. “(These) trainings are for people working in the tree care and landscape industry. Tree care workers are often dangerously comfortable with chainsaws. The landscape worker usually doesn’t use a chainsaw. Invariably, they’re inexperienced when they have to. These trainings are designed to get rid of bad habits and establish safe practices. ” The trainings are taught by North American Training Solutions, one of a handful of companies specializing in chainsaw safety training. The classes are approved by the Occupational Safety and Health Administration (OSHA) and funded through their Susan Harwood Training Program. There are four different trainings, each tailored to a different skill set when handling a chainsaw. “A surprising number of people cut down trees from ladders, which is extremely dangerous because you can’t get away from the tree or branch when it falls. We have a chainsaw and ladder safety training,” Bauske said. “We have chainsaw safety and working in the right-of-way. If you’re felling a tree in an urban area, you are invariably felling them around electrical wires. Electrocution is the No. 2 cause of death among tree care workers.” Other trainings focus on aerial lift operations and tree felling. The trainings are free, and lunch will be provided for a small fee. The next training is slated for Aug. 11 in Douglas County. It will focus on technical tree cutting and small tree felling. Other trainings include one in Chatham County, Sept. 1-2; in Brunswick on Sept. 3; in Troup and Spalding County, Sept. 24; in Fulton County, Sept. 30; in DeKalb County, Oct. 8; in Douglas County, Oct. 13; in Gwinnett County, Nov. 12 and Dec. 9 and Lowndes County (Dec. 10). “We are working on more trainings, so call your county agent to find out about the trainings near you.,” Bauske said. To find your local UGA Extension office visit. extension.uga.edu. Authors: Experts/Sources: Clint Thompson is a news editor with the University of Georgia College of Agricultural and Environmental Sciences based in Tifton.center_img Clint Thompson Ellen M. Bauskelast_img read more

Uruguay Beefs Up Border Security in Advance of Sporting Events in Brazil

first_img MONTEVIDEO, Uruguay — With the FIFA Confederations Cup Brazil planned for June, the World Cup for 2014 and the Summer Olympics for 2016, military officials in Uruguay —— which shares a 1,068-mile land border with Brazil — are taking no chances. The Uruguayan Army plans to increase border patrols and step up its presence along its coastal border with Argentina in advance of these sporting events as a deterrent against possible incursion by armed groups and illicit activities such as weapons or drug smuggling. In a recent news conference, Army officials said Uruguay’s frontier with Brazil is notoriously porous, with local residents walking freely between the two countries with little risk of being stopped by authorities. Army Commander Gen. Pedro Aguirre ordered the border patrols with the support of Uruguay’s Ministry of Defense. As a consequence of the military presence, reports of cattle rustling common on both sides of the border have fallen significantly, he said. The deployment — involving six Uruguayan departments that border Brazil — has been in the planning stages for months, and the Navy is preparing similar measures on the coastal border with Argentina, military sources said. The military presence seeks to dissuade terrorist groups from using Uruguay as a logistics base from which to stage actions in Brazil. Navy Seals train in Uruguay In addition, a team of U.S. Navy Seals has been dispatched to Uruguay. The team’s 15 members will train local Navy officers how to intercept suspicious vessels linked to both terrorism and drug trafficking. Late last year, former Defense Secretary Leon Panetta traveled to Uruguay, and the U.S. Drug Enforcement Administration opened an office in Montevideo. Speaking to the press, Uruguayan President José Mujica said planes are entering Uruguayan airspace possibly carrying drug money. “Where do the drugs come from?” he asked. “It doesn’t go through Customs, it doesn’t go through controls, it doesn’t come through the airport. There is clandestine traffic.” For that reason, since 2010 the Uruguayan Air Force has beefed up its radars, though it recognizes that this isn’t enough to control the country’s airspace completely; for this reason it plans to acquire additional surveillance equipment. “Every year, dozens of illegal planes are detected on irregular flights to Argentina and Brazil that are not possible to intercept,” the Air Force told the website infodrogas.com. Taking action against ‘irregular’ flights Uruguay’s system for monitoring and controlling its airspace consists of three fixed radars located throughout the country as well as one mobile unit — but the Air Force conceded there are “gaps” in which no one knows what happens. The Ministry of Defense plans to add small radars to cover these so-called dead zones. However, due to the lack of fast interceptor aircraft, Air Force personnel can do little when they see “irregular” flights showing up on their monitors. The term “irregular” indicates flights whose pilots did not communicate their flight plan, and aircraft of unknown identity, purpose and destination. Regular flights comply with a protocol to transfer information to the country to which flights are destined. “There’s always actions taken against irregular flights,” said Col. Alvaro Loureiro, the Air Force’s public relations manager, in comments to the Montevideo daily newspaper El País. “If possible, and if there’s sufficient time, they are intercepted.” By Dialogo June 03, 2013last_img read more

With More Rain in Forecast, Long Island Officials Chart Hurricane Joaquin’s Unclear Path

first_imgWhile it is too early to know with any certainty when and where #Joaquin will make landfall – and the strength of the… Posted by PSEG Long Island on Wednesday, September 30, 2015 Sign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York Another wave of heavy rain on tap through the weekend has prompted concerns of potential flooding on Long Island as meteorologists and local agencies keep a watchful eye on newly formed Hurricane Joaquin’s uncertain trajectory. The National Hurricane Center upgraded Joaquin from a tropical storm to a hurricane Wednesday morning. By late afternoon it was located 245 miles east-northeast of the central Bahamas and was moving at approximately six miles per hour. In response, Gov. Andrew Cuomo’s office reminded residents to remain vigilant despite Joaquin’s uncertain path. “Our state has seen the damage that extreme weather can cause time and time again–and I am urging New Yorkers take precautions for more heavy storms in the coming days,” Cuomo said in a statement. “Tropical Storm Lee and Hurricane Irene proved that you do not have to be near the coast to be impacted by Mother Nature. I have directed State agencies to ready their emergency response equipment in partnership with local governments, and I encourage all of our state’s residents to be prepared and stay safe.” The governor urged residents to stock up on emergency supplies, including water and non-perishable food, and to gather emergency contact information.Suffolk County Executive Steve Bellone said the county is closely monitoring Joaquin’s progress and will take “necessary precautions to prepare in the event of severe weather.” Invoking Superstorm Sandy, the county executive said: “it is better to be overly cautious and to have a plan in place. The county is closely monitoring the storm’s progress and taking the necessary precautions to prepare in the event of severe weather.”The Oct. 29, 2012 superstorm was also on the mind of officials in Nassau County. “Superstorm Sandy taught us that given our location as an island, we are vulnerable to the Atlantic Ocean and susceptible to the powerful and destructive nature of hurricanes and tropical storms such as Joaquin,” said Nassau County Executive Ed Mangano in a statement. “It is critical that residents be prepared for it and take all warnings seriously.”The Island may still experience heavy rain through the weekend, according to the Upton-based National Weather Service. The agency said it was too soon to predict Hurricane Joaquin’s course but it noted that the Island was already experiencing tropical moisture as a result of the storm. LI was saturated with 1 to 2 inches of rain as a storm system rolled across the region overnight, knocking out power to several thousand PSEG Long Island ratepayers. As of Wednesday afternoon, the number of customers in the dark had dwindled to less than 500.“We have activated our storm preparedness plans so we can respond quickly to the approaching weather,” said John O’Connell, vice president of Transmission & Distribution at PSEG Long Island, in a statement. PSEG LI will conduct system checks on its equipment and perform logistics checks as it prepares for more wet weather. The forecast for the remainder of the week calls for rain through the weekend. LI could see another 2-3 inches of rain by Friday, the weather service said.last_img read more

Reconstruction project to close Glenwood Avenue in Binghamton for weeks

first_imgBINGHAMTON (WBNG) — The city of Binghamton is alerting residents to a road closure that will last around 60 days. Funding for the project comes through the Governor’s Office of Storm Recovery, the city says. The office of Mayor David says Glenwood Avenue between Brown and Clinton Streets will be closed beginning March 2 to allow for reconstruction of a storm water pumping station under the railroad viaduct on the road.last_img

Two’s company

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