上海后花园论坛

first_img For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps. New Delhi: South Africa, who recently clinched the ODI series 2-1, continued to pile the misery on Australia as they secured a 21-run win in the one-off Twenty20 International played at the Carrara Oval in Queensland on Saturday in a match reduced to 10 overs per-side after rain delayed the start of the match. The new venue, situated on the Gold Coast of Australia, was hosting its first ever international game but there was a major threat as rain delayed the start by more than two hours. However, once the rain abated, the match started quickly and South Africa chose to bat.Read More | England beat Sri Lanka in Pallekele Test, win series after 17 yearsThe Proteas made a quick start, with Quinton de Kock launching Jason Behrendorff over deep square leg to get off the mark with a six. Reeza Hendricks smashed a four off the fifth ball past cover as Australia leaked 15 runs. De Kock launched Billy Stanlake over long off for his second six but the third over, the final one in the powerplay, proved extremely costly for Australia as Hendricks blasted a four and a six off Nathan Coulter-Nile. Although the bowler had his revenge, South Africa had smashed 42 runs in the powerplay.Read More | Mandhana 83 helps India thrash Australia in ICC Women’s World T20Skipper Faf du Plessis (27) and Heinrich Klassen (12) found the boundaries on a regular basis. However, Glenn Maxwell lit up the evening with a stunning catch to send back du Plessis. The Proteas skipper blasted a short ball from Stanlake flat to deep midwicket. Maxwell, positioned on the boundary, leapt up and caught the ball with both hands. Realising that he might go over the ropes, he threw the ball mid-air as he tumbled to the other side of the boundary. He recovered and took the catch on the second attempt. The effort even earned the appreciation of former AB de Villiers, who termed it the ‘best catch he had ever seen.’Despite losing quick wickets towards the end, South Africa ended on 108/6.In response, Australia also started off brilliantly with Chris Lynn hammering Kagiso Rabada for two boundaries. However, Lungi Ngidi got Aaron Finch (7) but the third over bowled by Chris Morris totally robbed Australia of momentum. Morris removed D’Arcy Short for a golden duck but the wicket of Lynn for 14 gave the Proteas the advantage.With Marcus Stoinis (5), Ben McDermott (4) and Alex Carey (8) departing cheaply, the onus was on Maxwell. The right-hander responded by smashing Andile Phehlukwayo over deep midwicket for a six and got two further boundaries off Rabada. However, with 31 needed off the last over, Maxwell hit a six off Ngidi but could not do much as Australia suffered a 21-run loss, their fourth consecutive loss in the format after being whitewashed 3-0 by Pakistan earlier in the UAE. last_img read more

first_imgShare Facebook Twitter Google + LinkedIn Pinterest By Elizabeth WilliamsDTN Special CorrespondentINDIANOLA, Iowa (DTN) — A 67-acre tract of farmland in Sioux County, Iowa, brought $18,300 per acre at auction earlier this month.In September, Hertz Farm Management had 10 sales at $10,000 or more per acre and eight sales above $11,000 per acre for corn and soybean ground, CEO Randy Hertz told DTN.These sales may be isolated cases in today’s market, but the trend of steady-to-slightly higher land values is not. Farmland brokers report sales around the Midwest continue to attract strong buying interest, primarily from farmers.Farm profits have been hard to come by in recent years and are no longer the driving force of the land market. Instead, farmland values’ stability has helped farmers weather the storm of low commodity prices. But with little change seen to agriculture’s economic outlook, DTN takes a look at what’s holding land values up — inventory, interest rates, income and investment — and what it would take for them to tumble in this two-part series, Land’s Linchpin.LOW INVENTORY MEETS LIMITED INCENTIVE TO SELLFarmland owners have few incentives to sell.In the old days, a retiring farm couple would sell the farm, buy a house in town and live comfortably in retirement. They didn’t necessarily want to rent their farm because the prevailing crop share leases were risky.In contrast, today’s cash rents are relatively risk-free, and it doesn’t take a large number of rental acres to generate a secure retirement income for a frugal farm couple. For an older couple looking for a safe investment, renting out a farm is attractive, providing a 2.5% to 3% return in annual cash rental income compared to the less than 2% return they’d earn on a certificate of deposit at a bank.In fact, 60% of the farmland in Iowa is owned by people 65 years and older.“People like owning land,” said Winnie Stortzum, a farmland broker with Farmers National Company in Arcola, Illinois. “They know the investment. They like the investment, and they are comfortable with it.”Stortzum said he spoke with a 73-year-old investor who bought a farm for $10,550 per acre this spring.“He has never been married; has no heirs, no nieces or nephews. He said, ‘I know I shouldn’t be buying land at this age, but I just like the investment.’ And he is looking into charities to leave his land to,” Stortzum said.Tax laws also disincentivize farmland sales. If you hold your land until you die, your heirs get a step-up in basis and do not have to pay capital gains tax on the farmland if they sell it for market value at the time of your death. If, however, you sell that land while you are alive, you pay tax on all the capital gain since you bought or inherited the ground. Consequently, most farmland sales today are estate sales.Another reason farm owners aren’t selling: They don’t need to. Eighty-two percent of Iowa farmland is owned free of debt, according to a 2017 survey by Iowa State University. This is up from 62% in 1982 and 78% in 2012.“That provides huge stability in the land market,” Hertz said.Despite lower farm profits and declining working capital, lenders are not pressuring for a large number of land sales because many farmers have adequate net worth to weather lean times. A recent report by USDA’s Economic Research Service that looked at measures of solvency, liquidity and repayment capacity found that only 10% to 15% of farms were classified as being under financial stress.It’s important to remember that not all farmers are losing money, either, said Howard Halderman with Halderman Farm Management and Real Estate Services, based in Wabash, Indiana. “Farmers have had the opportunity to sell over $4 cash corn and over $10 soybeans the past three to four years and over two to three weeks” each time, he told DTN.The tough growing season has also created regional basis opportunities.“And this fall, cash basis for corn in southern Minnesota was 5 to 10 cents over the Chicago futures price when it’s usually 40 cents under the Chicago price,” said Moe Russell with Russell Consulting Group in Panora, Iowa. That’s because buyers are worried about availability of quality grain, he said.“Farmers who are good marketers have been able to hold their own financially, even in these tough times,” he said.Also, not all places had crop failures or lower-than-average yields this year. Corn yields in the area of that eye-popping farmland sale this year are over 200 bushels per acre while soybeans are yielding 50-70 bpa.Farmers aren’t selling, and they are doing most of the farmland buying.“In our farm sales this year, 70% to 75% of the buyers were operating farmers,” Halderman said. “It’s been closer to 50-50 farmers to investors the past few years.”INTEREST RATES DRAW ACCOLADESIn agriculture, you can’t say enough good things about low interest rates.“It keeps interest expenses low for operating farmers,” said farm consultant Russell.“When interest rates on bank CDs are frustratingly low, farmland investment is attractive,” said Stortzum.“People look at hard assets that retain value [rather than invest in financial instruments],” noted Texas A&M economist Charles Gilliland.Low interest rates make borrowing for land purchases more affordable and keep the cost of servicing debt payments low.“I borrowed some money to buy some farms and locked in 3.25%, fixed for 10 years,” said Murray Wise, a farmland broker and investor. “I kind of felt sorry for the banker.”The general economy also benefits from low interest rates, he said, by forestalling a recession. “The prime rate at 5 and moving down is a positive sign for the economy. And all the big banks are making phenomenal money with a rather conservative portfolio.”SAFETY NET PAYMENTS HELP CASH FLOWOhio State University ag economist Barry Ward said the safety net in agriculture is pretty strong.“Subsidized crop insurance helps put a floor in place. ARC-PLC government payments aren’t that high now, but still protect a significant downside. And Market Facilitation Program (MFP) payments and the prevent plant program this year have helped farmers with cash flow,” Ward explained.USDA authorized $14 billion for MFP payments this growing season that will be divided up into three payments, the first of which farmers have already received. The remaining two are dependent on the status of trade negotiations, with USDA currently planning on cutting checks in November and January.Farmers with prevented planting claims this year will also be paid an additional 10% under a disaster assistance bill.Ward said the unfortunate part of that arrangement is there’s no knowing how long support will continue since both of those are ad hoc programs.That uncertainty, along with other challenges to corn demand, could lead to tighter incomes over time.“There’s a question mark on the ethanol industry, so we’ll see what happens there,” Ward said.SECTION 1031 TAX-DEFERRED LAND EXCHANGES FACILITATE DEVELOPMENTFarmland continues to be converted to suburban houses and business sites. A recent study by the American Farmland Trust found that 31 million acres were lost to development between 1992 and 2012, including 11 million acres of the nation’s best agricultural land.For perspective, that’s 175 acres per hour of agricultural land lost to development, or 3 acres per minute.In the Texas Panhandle, as around the U.S., these exchanges are helping to prop up farm and ranch values, Gilliland said.“Landowners surrounding cities, such as Lubbock, look for other ag property to exchange into and avoid paying high capital gains taxes on land they sold for development,” he said.Land exchanges are not a huge portion of land sales, but they are still significant. The Iowa chapter of the Realtors Land Institute estimated in 2019 that potential buyers using 1031 Exchanges influenced up to 20% of the farmland auctions, either by buying or bidding.(KM/ES/AG)© Copyright 2019 DTN/The Progressive Farmer. All rights reserved.last_img read more

first_imgThe American Red Cross honored award-winning country music star and Red Cross spokesman Trace Adkins last week with the Crystal Cross for his support of the humanitarian organization.The Crystal Cross award honors celebrities who have shown exemplary support of and service to the Red Cross mission.“Trace brings humor, honesty, hard work, and grit to everything he does,” said Red Cross President and CEO Gail J. McGovern. “We could not ask for a better representative of the Red Cross.”Adkins was personally helped by the Red Cross when his family survived a fire and he joined the American Red Cross National Celebrity Cabinet in 2012.During last week’s awards ceremony, Adkins entertained an audience of Red Cross Tiffany Circle Summit attendees for a short performance at the organization’s Washington, DC headquarters. The Tiffany Circle is a group of women who donate $10,000 or more to their local Red Cross chapters annually.“When my home was claimed by fire last year, Red Cross volunteers were among the first on-site,” Adkins said. “They looked after my family when I couldn’t be there and offered help. We were fortunate because we could replace the things we lost, but that’s not always the case for every disaster victim. That’s when the Red Cross steps in. I am supporting the mission of the Red Cross and hope to help them reach more people in need.”last_img read more

first_imgTORONTO – Detour Gold Corp. says it has raised concerns with securities regulators about statements by a U.S. hedge fund.The mining company says it notified the Ontario Securities Commission of alleged “concerning and unlawful behaviour” by Paulson and Co., which it says is meant to pressure the board into a quick sale of the company.Paulson and Co. had earlier released a statement saying it had been informed that Detour Gold had been approached by a major gold mining company interested in potentially acquiring it.The investment firm says it will go ahead with efforts to try and replace the board of directors at Detour because of the company’s approach to the matter.Detour Gold says Paulson and Co.’s statements are false and misleading, and it does not have a sale process in place nor has it received offers to purchase its shares.Detour’s share price closed up $1.45 or 11.84 per cent to $13.70 after Paulson issued the statement about a potential offer.last_img read more

Expand your social network to enjoy healthier life

first_imgThe more social ties people have, the better their health is during adolescence and the golden years of their lives, says a new study.“Based on these findings, it should be as important to encourage adolescents and young adults to build broad social relationships and social skills for interacting with others as it is to eat healthy and be physically active,” said one of the researchers Kathleen Harris, professor at University of North Carolina at Chapel Hill, US. Also Read – ‘Playing Jojo was emotionally exhausting’The study builds on previous research that shows that aging adults live longer if they have more social connections. Specifically, the team found that the sheer size of a person’s social network was important for health in early and late adulthood. In adolescence, that is, social isolation increased risk of inflammation by the same amount as physical inactivity while social integration protected against abdominal obesity. In middle adulthood, it was not the number of social connections that mattered, but what those connections provided in terms of social support or strain, the study said. “The relationship between health and the degree to which people are integrated in large social networks is strongest at the beginning and at the end of life, and not so important in middle adulthood, when the quality, not the quantity, of social relationships matters,” Harris said. The study was published in the journal Proceedings of the National Academy of Sciences.last_img read more

Borrower Satisfaction Types of Loans Changing

first_img Over the course of 2016, borrower satisfaction dropped and lenders sought more changes to their post-TRID underwriting practices, according to the February Stratmore Group Insights report.Borrower satisfaction, which measures customer exeriences through the mortgage lending process, dropped to an index of 88, after a four-moth run at 90, Stratmore reported. That was the lowest number since January 2016.“It seems clear that time-off during the Holiday season took its toll on borrower satisfaction,” the report stated. “We anticipate a recovery by February, as occurred during 2016.”Last February’s borrower satisfaction index hit 89.5.Overall borrower satisfaction accounting for roughly 105,000 loans in 2016 was 89. According to Stratmore, 82 percent of borrowers reported experiencing no problems. They reported satisfaction scores of 95.Of the 18 percent who did experience a problem, 13.4 percent said the problem was resolved, with 4.7 percent reporting that the problem was not resolved. The satisfaction score plummeted to 77 for that 13.4 percent and to 35 for the 4.7 percent. This, the report stated, put lender “at risk to getting negative reviews by such borrowers to friends, relatives, and on social media.”According to the report, banks and underwriters were more likely to originate‒‒or more likely to plan to originate‒‒non-QM loans in 2015. Fifty-six percent of banks responding to Stratmore’s survey said they were significantly more likely to originate non-QM loans than independents (41 percent). This difference, Stratmore reported, “reflects the ability of banks to internally fund non-QM loans, e.g., Jumbo ARMs.”Lenders also shifted how their employees worked. Two thirds of lenders, for example, offer work-from-home options as a recruiting incentive or as an incentive to retain seasoned underwriters.“This practice is often used when the talent pool has been exhausted in a particular geography or as a way to quickly expand or contract capacity in line with demand,” the report stated.The typical compensation package for processors salary in 2015 was just shy of $38,000 to $56,000. The upper 10 percent of earners made about $73,000 that year. Third-party originators (TPOs) were least likely to pay processor incentives (75 percent).“For a TPO lender, the role of processor tends to be more of a consolidator role versus the retail processor,” Stratmore reported. “Because the TPO lender is often receiving more complete files, the emphasis on productivity is diminished and may lead to a lower incidence of incentives.”Processor incentive was primarily based on a per loan payout (65 percent), the report stated. Another 22 percent of the incentives were based on the achievement of pre-defined objectives.“These objectives might include file quality, team performance, and customer satisfaction,” Stratmore reported. “These drivers … indicate that lenders care about throughput and productivity, but also care about file quality, team performance and other lender specific objectives.” Borrower Satisfaction, Types of Loans Changing in Daily Dose, Data, Headlines February 24, 2017 582 Views last_img read more