• U.S. Renewable-Energy Jobs Continue to Outpace Coal and Gas Employment

    first_img FacebookTwitterLinkedInEmailPrint分享North American Wind Power:Wind and solar energy jobs now outnumber coal and gas jobs in 30 U.S. states, including Washington, D.C., according to a new report released by the Environmental Defense Fund (EDF).The report, “In Demand: Clean Energy, Sustainability and the New American Workforce,” finds that the clean energy and sustainability economy provides local jobs in all 50 states, frequently pays higher-than-average wages, and offers numerous career and educational pathways, says EDF. (Note: The report uses sources that reference 2016, the most recent year of available data. Therefore, some policy and market developments in 2017 may not be fully reflected in the data, EDF says.)“The clean energy workforce has skyrocketed, launching us into the new clean energy economy while supporting American workers,” says Ellen Shenette, manager of EDF Climate Corps, a summer fellowship program that accelerates clean energy initiatives and spearheaded the new report.The report says the U.S. renewable energy sector employed 777,000 people at the beginning of 2017 – roughly as many as in the U.S. telecommunications industry. Notably, these renewable energy jobs outnumber coal and gas jobs – at more than 558,000 – by nearly 1.5 to 1.At 48%, bioenergy (biofuels, biomass and biogas) is the largest employer of renewable energy jobs, while solar is second at 33%. Wind energy comes in third place at 13%, while geothermal and small hydropower account for 5% and 1%, respectively. For wind and solar particularly, Texas and California employ the most workers, the report adds.By 2020, the report predicts that Texas, Colorado and Iowa will each have more than 15,000 wind jobs. In addition, North Dakota, Minnesota, Illinois and Ohio are expected to have 7,500-15,000 wind jobs.The report, co-authored by Meister Consultants Group, a Cadmus Company, notes that 2017 marked a year of political uncertainty at the federal level: It centered on the future of renewable energy tax incentives and the potential tariff on imported solar modules. (The Trump administration’s final decision to approve 30% solar tariffs came on Monday.) In turn, at the end of 2017, there was a 22% decrease in cumulative solar installations compared with last year’s numbers, says EDF.However, the report, citing numbers from the Bureau of Labor Statistics, projects that solar PV installers and wind turbine service technicians will be the two fastest-growing jobs in America from 2016 to 2026, roughly doubling during that period. In addition, EDF says solar and wind installations comprised 65% of installed electric capacity in 2016, and for the third year in a row, they exceeded the installed capacity of all other electricity sources combined.Report: Wind And Solar Jobs Outnumber Coal And Gas Jobs In Majority Of States U.S. Renewable-Energy Jobs Continue to Outpace Coal and Gas Employmentlast_img read more

  • Wildlife officials remind public that young wildlife rescues often do more harm than good

    first_imgPhoto from Getty Images As young animals are born this spring, biologists remind the public that they should resist the urge to “rescue” young wildlife, as that often does more harm than good. “Young wildlife belongs in the wild, and even the most well-intentioned attempt to care for them often results in an unwanted outcome,” the Oklahoma Department of Wildlife Conservation said in a press release. Weston announces ‘Slay at Home’ speaker series Christian Lewis, a long-distance hiker from South Wales, set off nearly three years ago on a quest to hike 8,700 miles of the British coastline. He gave up his home and has no money to speak of—a scenario that worked just fine for him until the coronavirus stopped him in his tracks.  Young wildlife removed from the wild are denied important natural learning experiences that help them survive, the release said. Even if these animals are eventually returned to the wild, their chances of survival are reduced. It is also illegal to take young wildlife from the wild or keep them as pets.  Dreaming of a better place to face coronavirus isolation? This hiker found himself on a deserted Scottish island The speaker series is open to the public. Anyone interested can tune in on Facebook Live or join the conversation on Zoom. Snowboard, splitboard and ski brand Weston has launched an online speaker series for splitboarders who are isolated at home but want to continue to build their skillsets. Every Friday night at 6pm MST, Weston will discuss topics such as the best ways to prepare for upcoming splitboarding seasons during their “Slay at Home” speaker series. Lewis could have been in trouble, stranded on the Shetland islands with just a flimsy tent, but thanks to the kindness of strangers, Lewis found himself holed up in a tiny cottage on an island he has all to himself. A local fisherman brings Lewis water and he forages for his food. “It is just super. I couldn’t be in a better place for a lockdown,” Lewis told CNN.last_img read more

  • Foundation awards $9 million in legal aid grants

    first_imgFoundation awards $9 million in legal aid grants Foundation awards $9 million in legal aid grants January 1, 2003 Managing Editor Regular Newscenter_img Mark D. Killian Managing EditorThe Florida Bar Foundation awarded more than $9 million in IOTA grants in December to Florida legal aid providers to help meet the legal needs of the poor.The grants represent an approximately four percent cut in Foundation funding for legal aid programs this year or $401,545 less than the Foundation was able to grant a year ago, according to William H. Davis, chair of the Foundation’s Legal Assistance for the Poor Grant Committee.Davis said cuts in bank interest rates and reductions on investment earnings have taken a toll on the IOTA program, forcing the Foundation to reduce funding to legal assistance programs by 25 percent over the past four years.“Unfortunately this year we see a continuation of that process,” Davis said, adding that as a general rule the Foundation this year reduced the funding for programs which generally get more than $150,000 from the Foundation by 8.3 percent and cut funding to the smaller programs by 4.15 percent. Davis said the Foundation made the percentage cuts on the assumption the larger programs— many of which also receive Legal Services Corporation funding—could better absorb the larger reductions than could the smaller programs. Davis also said many of the larger providers will be receiving more LSC money this year “because of the unfortunate growth of the poor population in the state.”Some programs, however, did receive increases in funding, due to added responsibilities.At one time the IOTA program had raised as much as $19 million a year to fund legal aid, administration of justice, and law student assistance projects.The applications for general support grants for local programs are based upon a per capita formula, depending upon the number of poor people in a county. Services are provided through staff and pro bono attorneys. The cases handled are determined through local community priorities set by local boards of directors. Predominantly, the cases handled are family, housing, income maintenance, and consumer matters.The Foundation’s board of directors approved the general support grants on the recommendation of its Legal Assistance to the Poor Grant Committee.Of the funds distributed, $4.4 million went to general legal services programs that also receive Legal Services Corporation funds; slightly more than $1 million went to legal aid organizations that do not receive any LSC money; $938,000 was awarded to immigration service projects; $574,000 was provided for legal assistance to the institutionalized; $15,000 went to law school clinical projects; and $2 million was awarded to statewide legal aid programs.Foundation grants for general support to programs which also receive LSC funding include: Bay Area Legal Services, $556,769; Central Florida Legal Services, $420,762; Florida Rural Legal Services, $617,930; Gulf Coast Legal Services, $419,516; Gulf Coast Legal Services Pro Bono Project, $30,023; Jacksonville Area Legal Services, $314,814; Legal Aid Services of Broward County, $412,332; Legal Services of Greater Miami, $533,803; Legal Services of North Florida, $384,303; Northwest Florida Legal Services, $209,813; Three Rivers Legal Services, $297,535; and Withlacoochee Area Legal Services, $237,593.IOTA general funding grants awarded to organizations which do not also receive LSC funding include: Brevard County Legal Aid, $69,383; Community Law Program, $41,040; Cuban American Bar Association, $27,297; Dade County Bar Association, $234,809; Heart of Florida Legal Aid Society, $92,198; Lee County Legal Aid Society, $46,177; Legal Aid Foundation of the Tallahassee Bar Association, $30,817; Legal Aid of Manasota, $15,821; Legal Aid Society of Palm Beach County, $218,779; Legal Aid Society of the Orange County Bar Association, $267,823; and the Seminole County Bar Association Legal Aid Society, $52,076.Foundation grants to organizations which provide immigration services include: American Friends Service Committee, $106,422; Dade County Bar Association Ineligible Aliens, $61,817; Florida Immigrant Advocacy Center, $525,299; Florida Immigrant Advocacy Center Homeless Project, $59,779; Legal Aid Society of Palm Beach County, $71,274; and Legal Aid Society of the Orange County Bar Association, $113,899.Grants for legal assistance programs for the institutionalized or incapacitated went to Florida Institutional Legal Services, $297,126; the Florida Justice Institute, $223,231; and the Guardianship Program of Dade County, $54,594.IOTA grants for law school clinical projects in the amount of $2,500 each went to Florida State University, Nova Southeastern University, St. Thomas University, Stetson University, the University of Florida, and the University of Miami.General support grants for statewide projects went to Florida Legal Services, $1.4 million; Florida Legal Services’ Migrant Farmworker Justice Project, $491,713; and Southern Legal Counsel, $192,324.The Foundation deferred funding decisions until its March meeting for the Gulfcoast Legal Services Pro Bono Project; Legal Aid Society of Collier County; and Okaloosa County Legal Services.last_img read more

  • It’s Reigning Cats and Dogs! Again…

    first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York Lindsay and MistyIt’s a new year, and a new beginning for Reigning Cats and Dogs.As you know, the Long Island Press underwent some big changes over the past few weeks: we’re now a monthly investigative journal and we have an awesome new website.And, like Tupac, Reigning Cats and Dogs is being resurrected (a hologram is still in the works). This blog will be updated more frequently, but the content will be the same: pets. Some of the topics may look familiar to loyal RCD readers, but that’s only because this is a clean slate of sorts and they’re topics that are important to pet lovers (i.e pets and thunderstorms, dog parks, car safety, etc).For my three loyal readers, you already know the stories of Herbie, Misty, and Daisy (so Mom you can stop reading now). For new readers, here’s a little background on the blog:The blog was created to discuss all things pets, whether it’s local issues, tips for pet owners or interesting facts and studies. I am not a pet professional, just a pet lover who likes to share stories and information with fellow pet lovers. I have had a pet since I was three. I currently have the best dog in the world named Daisy and a sweet little one-eyed cat named Herbie. I also have canine nephew named Scooby who loves giving kisses and playing football.Before Herbie rescued me I was in a deep depression because my beautiful, diva cat Misty had passed away. She was my best friend for 14 years, pretty much the definition of perfection, and I may or may not have a tattoo of her likeness. I have two other pet angels in Heaven: Sylvester the cat, my very first pet, and Lucky, a ridiculously good-looking dog. This blog is dedicated to them. They raised me after all, with a little help from my parents.Enjoy the new and improved Reigning Cats and Dogs!last_img read more

  • Berger: NAFCU ramping up data security push in new year

    first_img 8SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » NAFCU President and CEO Dan Berger asserted the association’s ongoing focus on winning passage of comprehensive data and cybersecurity legislation, one of the association’s top priorities for 2018, in an op-ed published yesterday in CUTimes.Berger noted that frequent data security breaches – in 2017 there were more than 1,200 reported by late November – have made protecting personal information nearly impossible and have cost financial institutions as they work to protect and restore affected members’ accounts. Berger cited a NAFCU survey that found merchant data breaches in 2016 “cost each credit union an estimated $362,000 in direct and indirect costs, including expenses related to monitoring, reissuance, fraud investigation, or losses and insurance.”“It’s imperative that everyone in the payments ecosystem take an active role in addressing emerging threats and protecting consumers’ personal financial information,” Berger wrote. “Credit unions, which serve more than 110 million member-owners, should not have to pay for the mistakes of third parties handling their members’ data. We need Congress to act so those members, and all Americans, can transact business with the knowledge that everyone handling their data is doing so responsibly.”last_img read more

  • Securitizations vs participations: Balance sheet flexibility vs. leverage

    first_imgThe Securitization Markets Handbook: Structures and Dynamics of Mortgage- and Asset-backed Securities by Charles Austin Stone and Anne Zissu The first credit union securitization recently closed in November 2019 (GTE Auto Receivables Trust 2019-1), undoubtedly catalyzed by the NCUA’s June 2017 opinion, issuing the authority for credit unions to undertake securitizations.  Moving forward, credit unions with the scale to access the securitization market looking to liquify a portion of their loan portfolio may be exploring participations and securitizations as competing alternatives, or undertaking both transactions contemporaneously.  While these transactions both generate liquidity and servicing income, their broader impacts on the originating credit union are fundamentally different.Participations and securitizations should be evaluated as distinct strategic choices assessed within the framework of balance sheet management.Participations are primarily a tool for institutions looking to generate balance sheet flexibility, increase lending capacity, or de-riskSecuritizations are a tool for increasing returns via leverage, and are most appropriately employed by institutions that have incremental risk capacityWe will elaborate upon this dynamic further as well as discuss some of the distinct and common features of both transactions and the underlying strategies they serve.BackgroundWhen a credit union sells a participation in a loan pool, it is selling a pro-rata ownership interest in each of the loans, typically up to 90%.  By contrast, in a securitization, the originating credit union sells 100% of each loan in the pool to a newly-incorporated special purpose vehicle (SPV) and then the SPV issues debt securities to structured product buyers, with the originating credit union receiving the proceeds of the debt issuance.  Although structures vary (and can become quite complex), frequently the par value of debt that the SPV issues covers 90% or more of the loan pool principal, and it is the originating credit union that retains the equity in the SPV.   The specific amount of retained equity in any given securitization varies and is driven by a combination of originator preferences, the underlying loans being securitized, and ever-fluctuating market-driven terms, but small equity cushions and thus high leverage ratios (10x or more) for SPVs are common.Programmatic EvaluationIt is not reasonable to assume that a large originating credit union is intending to undertake just a single participation or securitization nor that the proceeds from such a transaction would be invested solely in risk free assets.  Such an assumption would obscure the fundamental differences between participations and securitizations.  Rather, credit unions likely make the decision to execute a participation or securitization transaction as part of a programmatic balance sheet management strategy and can thus be expected to undertake the same transaction again periodically.  This will result in the credit union holding multiple pro-rata positions in participated loan pools or multiple retained SPV equity positions.Programmatic Risk-Return ProfileExecuting multiple participation transactions ultimately results in the originating credit union retaining small ownership stakes that are diversified across a larger number of underlying loans along with the benefit of additional non-interest income in the form of upfront premiums (gain on sale) as well as servicing income over the life of the loans.  These gains result in a superior, albeit similar, risk-return profile vis-a-vis a smaller number of 100% owned portfolio of loans.  A securitization program results in the originating credit union retaining multiple SPV equity shares that have a levered exposure to the performance of the underlying loan (along with additional servicing income).  When charge-offs are low, SPV equity will have superior returns vis-a-vis the underlying loans.  However, the trade-off is that when charge-offs rise, SPV equity is in a first-loss position and the value of the SPV equity will drop precipitously. A simplified risk-return profile of a participation program versus a securitization program is shown below to illustrate the more levered risk-return profile of securitizations and the magnified credit risk exposure borne by the SPV equity that would be retained by the originating credit union.Balance Sheet Flexibility and Risk Management  Credit unions undertaking participations receive substantial non-interest income, liquidity and de-risk individual credit exposures.  Credit unions thus increase their capacity to make new loans to their members or other similar discretionary capital allocations proportionate to the amount of proceeds received each time they execute a participation.  Whereas, undertaking a series of securitizations and retaining multiple SPV equity positions to seek higher returns comes at the expense of balance sheet flexibility as the retained SPV equity is a volatile leveraged asset and a significant portion of the cash received at closing may need to be allocated to assets less risky than the loans within the underlying pools to offset this volatility.Reserve Requirements and Accounting The reserve requirements for participations are similar to the reserve requirements for the original underlying loan pool simply reduced by the portion sold.  For securitizations where the credit union retains equity in an SPV, a greater amount must be reserved for potential losses.  Additionally, for the retained SPV equity, more complex accounting rules apply and, given typical securitization leverage ratios well in excess of 10x, a 1% decline in the value of the underlying loan collateral will have an amplified deleterious impact well in excess of 10% of the value of the retained SPV equity.  Fixed Costs and Multi-party Legal Complexity A participation is executed by entering into a bilateral agreement between the selling credit union and the buyer(s).  It is a relatively simple legal document and standardized agreements are widely available that are familiar to credit unions and brokers active in the market.  Broker fees, if any, associated with participations typically fluctuate with the size of the underlying loan pool.In contrast, a securitization will have both underwriting fees that fluctuate with the size of the underlying loan pool as well as significant fixed costs associated with the incorporation of an SPV, ongoing retention of a bond indenture trustee, a backup servicer, and payments to rating agencies (e.g. Moody’s, S&P or Fitch) that are governed by a set of legal agreements that are more complex and expensive to draft than those used to execute participations.  These costs are a drag on SPV equity returns and make securitizations prohibitively expensive for smaller pools.Similarities Between Participations and Securitizations Participations and securitizations share some common features that can obscure their fundamental differences and the distinct goals they accomplish.  Both transactions:Generate future servicing income for the sellerCan generate approximately the same amount of immediate proceedsConclusionParticipations and securitizations can both be economically efficient tools for larger credit unions.  However, it is important to recognize that these transactions accomplish different goals and that each should be approached as a strategic balance sheet management decision with long term flexibility, risk-management, regulatory, and accounting implications.  Participations enable balance sheet flexibility because the entirety of the liquidity generated can be used to make additional member loans or de-risk the balance sheet. Securitizations are better suited for credit unions that wish to seek increased returns through increased leverage and have incremental risk capacity. For further detail on securitizations and their relevance to credit unions, please refer to: NCUA Opinion dated June 21, 2017 titled Authority to Issue and Sell Securities: 1SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Ian Lampl Ian Lampl is CEO & Co-Founder of LoanStreet Inc., an innovative online platform that helps financial institutions share, manage, and originate loans.Prior to launching LoanStreet, Ian served as Deputy … Web: Detailslast_img read more

  • Andy Reid: Kansas City Chiefs head coach signs contract extension | NFL News

    first_imgReid, entering his 22nd season as an NFL head coach, owns a career regular-season record of 215-129-1 (.625). He’s won 230 total games including the playoffs, the second-most victories among active NFL head coaches (Bill Belichick – 308), and is fifth all-time in wins among head coaches in NFL history.- Advertisement – “He’s a hall of fame head coach, but more importantly, an outstanding person who has really changed our team culture. I’d like to congratulate Andy and his family on this well-deserved extension. It is our hope that he can finish his legendary career right here in Kansas City.” Reid added Super Bowl Champion to his resume in 2019 after defeating the San Francisco 49ers 31-20 in Super Bowl LIV.“I’d like to thank Clark and the entire Hunt family for their support over the last eight years,” Reid said. “Aside from winning the Super Bowl, one of my favourite moments last season was being able to be a part of bringing the Lamar Hunt Trophy back to the family.“I’m grateful for our players, my coaching staff, our support staff and our great fans. My family and I love living in Kansas City, and I look forward to continuing my career here.” Reid won the Super Bowl with the Kansas City Chiefs in 2019 Reid won the Super Bowl with the Kansas City Chiefs in 2019

  • State health leaders busy battling myths about H1N1 vaccine

    first_imgOct 14, 2009 (CIDRAP News) – Top state health officials said today they have been kept busy battling rumors and myths about the pandemic H1N1 vaccine, on top of the demanding work of coordinating the vaccination program just getting under way.”We’ve been spending an inordinate amount of time lately saying the vaccine is made just like seasonal flu vaccine,” said Tennessee Health Commissioner Susan Cooper, MSN, RN, during a public teleconference held by the National Biodefense Science Board (NBSB).The board met by telephone today to hear state and local perspectives on the pandemic and discuss recommendations about behavioral health issues related to the pandemic, among other agenda items. The NBSB advises the secretary of the Department of Health and Human Services (HHS) on biodefense issues.”There’s this misperception that keeps getting heightened in the media that this vaccine was rushed to market, that corners were cut, that there’s some special way this was made that’s different from seasonal flu [vaccine],” Cooper said.She said most people believe that Tennessee’s health department is working to protect and improve the health of residents, “but then you get a talking head saying, ‘Well, they’re lying to you.’ That then complicates the messaging.”Cooper said the news media in the state have been doing a good job of covering the story: “We’ve been fortunate in that we’ve not had some of the fear mongering that’s going on about the vaccine. . . . But it’s difficult when you can go to national media and find misinformation.”Mary Selecky, secretary of health in Washington state, told the board she has been dealing with misinformation too.”We have a very interesting history in the Northwest that has to do with that frontier mentality,” she said. “Glenn Beck [a conservative radio commentator] is from Washington state. My understanding is that perhaps Glenn Beck is not the best supporter of vaccines.”Noting a recent Harvard School of Public Health poll that showed only 50% of parents will allow their children to be vaccinated, she said, “We have a lot of work to do. There are a lot of difficult, confusing details to the public. . . . Then we’re getting hit with the seasonal flu vaccine lack of availability, and it’s just adding to the confusion.”Jay Butler, MD, of the Centers for Disease Control and Prevention (CDC), said a recent CDC survey on attitudes about the H1N1 vaccine showed a more positive response: 61% of respondents said they would definitely or probably get the vaccine if it becomes available to them. The poll involved about 500 people.Patricia Quinlisk, MD, MPH, who chairs the NBSB and is also Iowa’s state epidemiologist, agreed that misinformation is a challenge. “There’s a lot of misinformation out there, and anything that can be done at the national level and with nongovernmental speakers would be really helpful,” she said.Vaccination drive going wellDespite many challenges, Cooper and Selecky reported that the H1N1 vaccination programs in their states are working well so far.Cooper said more than 1,200 providers in Tennessee have preregistered with the health department stating their intent to give the vaccine, and the actual number of vaccination sites is higher because some of those that registered represented multiple sites, such as pharmacy chains. Selecky put the number of providers in Washington at more than 2,000.”All of the investments made into preparedness planning for all types of disasters have really paid off,” said Cooper. “In Tennessee our plan is really working, and we’re ecstatic about that.””We’ve ordered everything available to our state, and it’s getting out to providers timely, not sitting on a dock somewhere,” she added.In Washington, said Selecky, “Vaccine is getting into healthcare workers, it’s getting into children. . . . The train is moving down the track, and we’re very proud of the work that we’re doing.” Healthcare workers are among the priority groups for the vaccine.Selecky said the immunization program comes at a very tough time because of recent layoffs in public health. Local public health agencies in Washington have 330 fewer full-time equivalent jobs now than they had a year ago, she reported.Public health will meet the challenge, but it will mean letting go of less urgent tasks, she added. “It’s a time when public health will shine, but they’re going to be very, very tired at the end of the day.”Mental health recommendations consideredThe NBSB today also discussed a set of recommendations about mental health issues related to the H1N1 pandemic. After considerable discussion, the board asked its Disaster Mental Health Subcommittee to come up with a list of very specific guidance materials that HHS can send to state health departments and physicians soon.The subcommittee had drawn up a set of recommendations and actionable next steps regarding intervention, training and education, communication and messaging, and vulnerable populations.For example, the communication recommendations call for officials to integrate behavioral health factors into all health messaging, expand the use of nontraditional communication, address the needs of special populations, and “maintain sensitivity to terminology.”For actionable steps, the subcommittee advised public health communicators to discourage the use of the term “worried well” because it is “imprecise in the context of H1N1.” Instead, public health messages should tell people why they should refrain from usual behavior, such as going to a hospital emergency department for flu-like symptoms, and tell them what to do instead, the proposed recommendations say.In requesting specific advice from the subcommittee, Quinlisk said, “We want HHS to send to every state health department in the country this specific information, and this should be sent to every doctor in the state to present to their patients.”Betty Pfefferbaum, MD, JD, chair of the subcommittee, said she thought the panel could accomplish that.last_img read more

  • One Championship MMA fights to resume next month

    first_imgTopics : One had already put on fights in its Hero series, feeder events for the main championship, in China in June, before deciding to resume major shows. The US-based Ultimate Fighting Championship on May 10 became one of the first sports to restart post-coronavirus. UFC has so far successfully put on six shows in tightly controlled environments in Jacksonville, Florida, and Las Vegas. With virus outbreaks slowing in many parts of Asia, the company said its flagship events would restart with an event without fans in the Thai capital Bangkok on July 31.”Most national borders remain closed in Asia, and this has posed unique logistical and operational challenges,” One’s CEO Chatri Sityodtong said.The first three major bouts of the “One: No Surrender” event have been confirmed.Among fighters taking part are ONE flyweight Muay Thai world champion Rodtang “The Iron Man” Jitmuangnon, Petchdam “The Baby Shark” Petchyindee Academy, and “The Boxing Computer” Yodsanklai IWE Fairtex.center_img Asia’s largest mixed martial arts promotion, One Championship, will return behind closed doors in Thailand next month after a five-month break because of the coronavirus, officials said on Monday.One, which promotes cards across the region in mixed martial arts, Muay Thai and kickboxing, last put on a major show at the end of February.The Singapore-based company has since cancelled several events and slashed 20 percent of staff, although it has also revealed a $70 million funding boost from institutional investors.last_img read more

  • This home comes with just about everything, including a disco room and a $30m price tag

    first_imgThe home under construction.The 4000sq m home is on a 3070sq m waterfront block at 7-13 King Arthurs Court, Sovereign Islands.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North1 hour agoNew apartments released at idyllic retirement community Samford Grove Presented by Once the designs were done it took three years to build.It has seven bedrooms, each with an ensuite, staff quarters, an indoor-outdoor pool, tennis court, and a 14-car basement garage. 7-13 King Arthur Drive, Sovereign Islands.“You need a whole suite of consultants for a big house like this. It’s like designing a small hotel or mini resort – there’s a lot of technical expertise you need to ensure you achieve the desired outcome,” Mr Lea said. Inside the finished product.There is a lift in the house which also has a spa, Turkish steam and massage rooms. There are cold rooms and a secondary catering kitchen in the basement for functions.There is also a “disco room’’ with an illuminated dance floor. 7-13 King Arthur Drive, Sovereign Islands.IT cost $13 million to build, covers four waterfront blocks and is described as a “mini resort” and it could be yours if you have more than $30 million to spare.The home, known as Chateau de Reves on Sovereign Island on the Gold Coast, is 20 years old now, but has stood the test of time.Architect John Lea said it took more than a year to design the house. 7-13 King Arthur Drive, Sovereign Islands.The three-storey home has views along the Broadwater to Surfers Paradise.The massive project involved structural, electrical, mechanical and hydraulic engineers, landscape architects, and interior and lighting designers. 7-13 King Arthur Drive, Sovereign Islands.Mr Lea said he was allowed free rein with the design concept for the fan-shaped block of land, although one criteria was that it have a nautical theme.“Based on the client’s close association with prestige European Superyachts, hence the organic curved form which also relates to the shape of the land and the desire to capitalise on the sites positive attributes.” 7-13 King Arthur Drive, Sovereign Islands.The home is listed through Queensland Sotheby’s International Realty. 7-13 King Arthur Drive, Sovereign Islands. A model of the home before the building was started.He said designing such a property was “incredible’’, as the client wanted something that was cutting edge design and in line with what he had seen during his extensive overseas travels.The home is owned by German super yacht builder Klaus Lilischkies and his wife Leigh, who listed it for sale a few months ago.last_img read more