Kelly Loeffler’s tenure with Atlanta Dream over; franchise sold to real estate investor
ATLANTA — Kelly Loeffler’s ownership tenure — tumultuous in the past year — of the Dream is over. The sale of the team was completed with the announcement that the WNBA franchise has been sold to majority owner Larry Gottesdiener, chairman of the national real estate firm Northland, on Friday. He is joined in a three-member investor group with former Dream player Renee Montgomery and Northland President and Chief Operating Officer Suzanne Abair. The owners and the league declined to disclose the ownership percentages. The sale of the WNBA franchise was described as “imminent” to The Atlanta Jo...
The Atlanta Journal-Constitution
G20 finance chiefs to talk Covid recovery, aid to poor countries
Milan (AFP) - G20 finance ministers and central bankers will gather for a video conference led by Italy Friday, hoping to align plans for relaunching the global economy after the coronavirus pandemic and to limit harm to the worst-off nations shut out of the race for vaccines. Beginning at 12:30 pm local time (1130 GMT), the meeting is the first in post for US President Joe Biden's new Treasury Secretary Janet Yellen, expected to be far less confrontational than Donald Trump's representatives at past gatherings. "With the new American administration, it will certainly be easier to reach a deal...
Rocket Companies reports record $9 billion profit for 2020
Quicken Loans' parent Rocket Companies reported Thursday that it did a record amount of mortgage business in 2020 and likely had the most profitable year ever for the 36-year-old mortgage lender. Boosted by the boom in mortgage refinancing activity, the Detroit-based company had $15.7 billion in total revenue, or more than triple its $5.1 billion revenue in 2019. Its net income, or profit, skyrocketed to $9.4 billion from just under $1 billion the year before. And the company increased its closely watched gain on sale margin by 127 basis points year-over-year to 4.46%. In just the fourth quart...
Detroit Free Press
PPP changes helping small minority-owned businesses land loans: ‘I’m glad somebody saw the light’
When President Joe Biden announced changes this week to the Paycheck Protection Program designed to provide more equitable relief to smaller and minority-owned businesses, the benefits quickly made a difference for Barbara Wright. A high school teacher whose $30,000-a-year side gig as a Lyft driver was stalled by the pandemic, Wright learned Tuesday she was now eligible for a $6,336 forgivable PPP loan — a nearly sixfold increase over the $1,085 she received through the program last year. “I’m glad somebody saw the light somewhere,” said Wright, 59, who lives in the Englewood neighborhood on C...
Hong Kong Budget 2021: Public satisfaction lowest yet, survey says, as spending coupons slammed as ‘impractical’
Hong Kong people’s net satisfaction rate with the budget dropped to -36 per cent – the lowest since the handover – according to a public survey. The electronic spending coupons announced in Wednesday’s 2021 budget were also slammed as “impractical” by citizens. According to the latest poll conducted by the Hong Kong Public Opinion Research Institute (HKPORI), only 20 per cent of the 859 respondents said they were satisfied with finance chief Paul Chan’s budget. The survey showed that 56 per cent of the respondents were dissatisfied, meaning that the budget had a net satisfaction rate of -36 pe...
Hong Kong Free Press
Exelon to break up into two companies
Exelon Corp. plans to split into two publicly traded companies, one for its regulated electric and gas utilities like ComEd and the other for its power generation assets like its nuclear power plants. The announcement was made Wednesday as the Chicago-based company announced fourth-quarter earnings of $360 million, beating Wall Street estimates. Exelon said separating the two companies will create the nation’s largest fully regulated transmission and distribution utility company. ComEd will remain part of the electricity and natural gas business that has operations in five states and more than...
Wells Fargo sells asset management business to private equity for $2.1 billion
Wells Fargo will sell its asset management business to two private equity firms for $2.1 billion, the bank announced Tuesday, the first major sale of CEO Charlie Scharf's drive to simplify the sprawling bank. Chicago-based GTCR and New York-based Reverence Capital Partners will buy Wells Fargo Asset Management from the bank. Wells Fargo will hold on to 9.9% and remain involved as "client and distribution partner" of the asset manager, according to a bank press release. "This transaction reflects Wells Fargo's strategy to focus on businesses that serve our core consumer and corporate clients, a...
The Charlotte Observer
Susan Tompor: Tax shocker awaits remote workers who hit the road
Many people who suddenly ended up working remotely during the pandemic in 2020 found themselves plopped at their kitchen table in front of a laptop. But more people than you might imagine hit the road and worked out of someone else's kitchen or spare bedroom, maybe visting a relative or a summer home, in another state. So what happens now at tax time? "Working remotely in another state may — and often does — subject the individual to tax in that state," said James O’Rilley, CPA and tax director for Doeren Mayhew in Troy, Mich. And some times, it could even drive up your overall tax bill, O'Ril...
Detroit Free Press
Texas Gov. Greg Abbott: Public Utility Commission hitting pause on non-payment disconnections
FORT WORTH, Texas — The Texas Public Utility Commission is hitting pause on disconnecting customers for not paying their bills following the winter storm that left some with electricity bills in the thousands, Gov. Greg Abbott said Sunday. "The Public Utilities Commission is issuing a moratorium on customer disconnections for non payment," Abbott said at a news conference in San Antonio. "They are also going to restrict electric providers from sending customers the skyrocketing invoices at this time." Abbott said the commission held an emergency meeting Sunday. Lawmakers, including North Texas...
Fort Worth Star-Telegram
Environmentalists make long-shot attempt to ban new factory farms
Iowa has a poop problem. The Hawkeye State’s pigs, cows and chickens produce about as much waste as 134 million people — nearly the population of Russia. Most of that manure is spread onto fields as fertilizer, where significant amounts of it wash into Iowa waterways. The city of Des Moines uses one of the most expensive nitrate removal systems in the world to make its water supply from the Raccoon River safe to drink. “We have to ask if we can reconcile our water quality goals with the idea that we can continue to expand the livestock industry,” said Chris Jones, a professor and water quality...