Grantstation Trendtrack Sun, 10 Oct 2021 01:52:30 +0000 en-US hourly 1 Grantstation Trendtrack 32 32 Rock-a-bye Baby: Why America’s Child Care Crisis Is Bad For The Economy Sun, 10 Oct 2021 01:52:30 +0000

By LaKeshia N. Myers

Representative LaKeshia Myers

In 1984, my mother was among the 52% of American women who worked outside the home. Both of my parents being educators in public schools, they knew they would need quality child care when I was born and when my mother returned to work. Enter Mrs. Virginia Dotson; “Mama Dotson,” as she was called, was the mother of a former student of my mother and had made a name for herself as a babysitter for the neighborhood children of the Rufus King community. She was equally a surrogate grandmother and a southern nanny, all brought together into one beautiful personality. At Mama Dotson, children were always cared for, well nourished and safe. My time with Mama Dotson has been wonderful and provided me with many memories that I treasure. Mrs Dotson, a mother of four, never needed a permit to prove that she knew how to care for children, it was something that was intrinsically part of her being. She simply acted like a grandmother to all of her young children, providing love, occasional discipline, and Bible reading and “healthy living” lessons.

Unfortunately, we are living in a very different time. Gone are the days when working parents voluntarily choose to rely on neighborhood women who provide child care. This can be attributed to changes in societal norms and an increased awareness of child abuse and neglect.

Today, most working parents want child care focused on education and skills training from licensed early childhood educators. With this shift to academic and skill-based care, the price to pay is high. Daycare centers in America have gotten ridiculously expensive, according to Derek Thompson of The Atlantic. The average cost of a full-time child care program in the United States is now $ 16,000 per year, and more in some states than tuition at a flagship university (Thompson, 2019).

The 1970s and 1980s, the two decades with the fastest growing female labor force participation rate, also saw the strongest acceleration in child care spending, the researchers say. Raising young children is work – and it always has been work – but the increase in dual income households has forced more families to recognize this work with their wallets. Portfolios often stretched to the limit due to stagnant wages and childcare subsidies that have not kept pace with the needs of the workforce. This phenomenon was exacerbated by the COVID-19 pandemic as schools went virtual and students learned at home. Women, who are largely the entrepreneurs in their households, were largely responsible for helping children with their homework and therefore did not return to the workforce as quickly as men.

In order to evolve in a post-COVID society, America must embrace a more robust child care subsidy program. There are simply too few options for dual income households. We need substantial investments in child care to get parents back to work. After all, we are one of the only industrialized countries that does not offer some kind of government-provided child care allowance. We cannot attempt to solve 21st century problems with 19th century solutions. It is time for us to step into our reality.

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Federal relief funds to cultivate partnerships to help students | New Sat, 09 Oct 2021 21:57:00 +0000

OKLAHOMA CITY – The Oklahoma State Department of Education is using $ 21 million in federal COVID-19 relief funds over three years to develop and expand high-quality after-school and summer programs.

The OSDE will award competitive grants to schools and community organizations that team up to provide services designed to meet the academic, social and emotional needs of students.

“Local partnerships between schools and community organizations can provide targeted support to students who have been disproportionately affected by the pandemic,” said Superintendent of Public Instruction Joy Hofmeister.

Grants range from $ 50,000 to $ 150,000, and funds are to be used to establish or expand comprehensive after-school, evidence-based learning and enrichment.

As required by the American Rescue Plan Act of 2021, OSDE must use 1% of total state ARP funds for evidence-based summer enrichment programs and 1% for after-school programs comprehensive evidence-based. Oklahoma has received nearly $ 1.5 billion in emergency relief funds for elementary and secondary schools from the ARP.

Eligible applicants for the competitive grant include nonprofit agencies, city or county government agencies, community organizations, faith-based organizations, higher education institutions, private schools, and public schools.

Each application must be submitted jointly between at least one public or private community organization and a school district. Learn more about the application requirements in the Grant Opportunity Notice.

OSDE will host an information webinar on the application process and timeline at 11:00 a.m. Wednesday.

More information on the webinar, as well as all communications and deadlines, are available at

Due to the competitive nature of the application process, questions should be directed in writing to Paige Johnson, OSDE Grants Specialist in the Office of Family and Community Engagement, at

The High Quality After School and Summer Learning Programs initiative is a component of Ready Together Oklahoma: An Action Plan to Support Students During the Pandemic and Beyond.

Additional advice on high quality programs and community partnerships can be found at

– Submitted content

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Government proposes to extend subsidies for purchasing electric cars and converting cars until end of December Sat, 09 Oct 2021 09:47:46 +0000

October 7, 2021, the government has submitted to Parliament a legislative proposal to extend the subsidy for the purchase of electric cars and the conversion of passenger cars to gas or ethanol by one month, until December 31, 2021.

The legal provisions in force concern purchase and conversion subsidies, applications for which are submitted before November 30, 2021. The Government’s objective is to allow households to apply for purchase and conversion subsidies until ‘by the end of December 2021. By favoring less polluting vehicles, the purchase and conversion subsidies help to modernize the Finnish car fleet, by reducing greenhouse gas emissions from transport. Funding for the grants is expected to be included in the Fourth Supplementary Budget for 2021.

The temporary law on purchase subsidies entered into force on January 1, 2018. An appropriation of 24 million euros has been budgeted for subsidies for the purchase and conversion of passenger cars for 2018-2021. However, as of September 13, 2021, around € 13 million of the credit had still not been claimed. A buyer or long-term lessee of a new electric car can receive a € 2,000 purchase subsidy from the central government. The conversion aid is 1,000 euros for the conversion of a gasoline or diesel car to gas and 200 euros for its conversion to ethanol.

After that ?

A referral debate will take place on the proposal now submitted by the Government to Parliament. The timetable for the debate will be published on Parliament’s website (forthcoming plenary sessions). After the referral debate, the proposal will be sent to a parliamentary committee. The proposed act is due to enter into force on December 1, 2021 and is part of the implementation of the roadmap for fossil fuel-free transport.

In addition, the Ministry of Transport and Communications is preparing a second government proposal to maintain the current purchase and conversion subsidies. This legislative project also prepares new subsidies for the purchase of electric and gasoline-powered vans and electric trucks. The deadline for comments on the proposal is October 10, 2021. The proposal is expected to be discussed as part of the amendments to the budget proposal for 2022 at the end of 2021.

Source: Ministry of Transport and Communications

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Andhra CM calls for the Prime Minister’s intervention to deal with the energy crisis Sat, 09 Oct 2021 04:14:35 +0000

The Chief Minister of Andhra Pradesh, YS Jagan Mohan Reddy, on Friday requested the intervention of Prime Minister Narendra Modi to deal with the acute energy crisis facing the state, due to the shortage of stocks of coal.

To avoid chaotic conditions likely to arise from the load shedding, the chief minister urged the prime minister to order the ministries of coal and railways to allocate 20 coal rakes to thermal states and banks to be tasked with supplying generously working capital loans to discoms (distribution companies) until the end of the crisis.

“In Andhra Pradesh, the demand for electricity post-COVID-19 has increased by 15% in the last six months and by 20% in the last month, coupled with the coal shortage, plunging the energy sector of the country in turmoil, ”Jagan said. in a letter written to the Prime Minister.

It has become increasingly difficult to meet grid demand and circumstances are pushing the state towards load shedding, he said and urged: “We need your urgent interventions in this hour of crisis” .

Unplanned power cuts, once used, will lead to chaotic conditions in society, as the state witnessed in 2012, he added.

Seeking to take urgent action to avoid power cuts, the CM demanded the revival of failed / non-functioning coal-fired power plants in India without PPAs or coal-fired in an emergency.

This will save coal transportation time and quantity limitations in coal transportation in mine headless coal-fired power plants, he said.

Jagan also requested the deep water well gas supply available from ONGC and Reliance in an emergency for 2,300MW gas plants stranded / non-functioning in the state.

He further said that the nearly 500 megawatt (MW) shortfall in power plants due to plant maintenance can be made up by reviving plants early or postponing maintenance.

Highlighting the energy crisis facing the state, the chief minister said Andhra Pradesh is meeting grid demand of around 185 to 190 mega units (MU) per day. The power plants operated by APGENCO, which supply about 45 percent of the state’s energy needs, barely have coal stocks for 1 or 2 days and their production could be further affected.

APGENCO’s coal-fired power stations are operating at less than 50 percent of their 90 CU capacity per day due to the coal shortage. Power plants (CGS) were also unable to deliver more than 75% of their 40 MU per day capacity, he said.

In addition, the CM said it absorbs the energy of 8,000 megawatts (MW) of renewable energy capacity, the state has not executed contracts with coal-fired power plants and therefore it is highly dependent on purchases. of the market to supply the missing energy.

The average daily market price of about CU40 per day of energy the state purchases has tripled from a daily average of ??4.6 per kWh (kilowatt hour) on September 15 at a daily average of ??15 per kWh on October 8 of this year, he added.

Jagan also mentioned that the tariffs in up-to-date and real-time electricity markets are skyrocketing day by day and have peaked at ??20 per unit at most times of the day regardless of peak or off-peak hours.

“Electricity is also not available at certain times on the market due to lower generation availability in the country,” he said, adding that this is a “situation. alarming “and that the finances of distribution companies would deteriorate further if the situation persisted.

The power shortage is affecting the last stage of the harvest for farmers, he added.

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Benefits for everyone or just for the needy? Manchin’s request concentrates the debate Fri, 08 Oct 2021 21:52:17 +0000

In a private meeting with Mr Biden and nearly a dozen House Democrats in transitional districts on Tuesday, the prospect of limiting who could benefit from the promised two years of free community college emerged as part of a broader discussion of the program, according to Rep. Susan Wild, Democrat of Pennsylvania.

But, she added, “the general feeling was that we shouldn’t put means testing in place for universal child care, or let’s call it universal preschool.”

“It’s completely out of the child’s control, obviously, and it’s an unfair obstacle,” she said.

The politics of debate are obscure. Republicans love to attack Democrats for paying benefits to the rich. They caricature the tax credits meant to switch the country to electric vehicles as subsidies for Tesla owners and poke fun at federally paid family and medical leave by targeting executives who are already enjoying the benefits of their company. . The children of millionaires, they warn, will be among those who attend community college for free.

“The Democratic Party has become the party of the rich and the rich,” wrote Rep. Jason Smith of Missouri, the leading Republican on the House Budget Committee, in an essay for The Washington Examiner published Tuesday.

Many accusations are exaggerated. The kids of millionaires may not flock to community college, free or not. Ms. Sherrill’s amendment lifted the income cap on child care tax assistance, but the benefit is still set to limit child care costs to no more than 7 percent of child care expenses. a family. For truly wealthy families, child care is a much lower percentage than that, so the subsidies would still be limited. A wealth cap of $ 1 million still applies to the program as well.

And since Republicans argue that spending helps the rich, they denounce tax increases clearly aimed at the rich.

Still, the charges could sting.

“There are programs where I say, if the government helps someone like me, that money is probably coming from someone who needs it a lot more,” Kaine said.

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Court grants ex-AGF Adoke’s request to travel abroad for medical treatment Fri, 08 Oct 2021 14:33:46 +0000

Friday’s reprieve came for former Federation Attorney General and Justice Minister Mohammed Bello
Adoke, with Judge Inyang Eden Ekwo of the Federal High Court of Abuja granting him permission to travel abroad for treatment.

The court ordered that his travel documents, in particular his passport deposited in court as part of his bail conditions, be returned to him.

Adoke, who is on trial for money laundering, was allowed to travel abroad between October 11 and November 15 and return to Nigeria.

Judge Ekwo, while granting the ex-AGF’s request, however ordered that another ex-AGF and Minister of Justice, Kanu Agabi (SAN) enlist before the passport was released.

Agabi is Adoke’s lead counsel in criminal money laundering charges brought against him by the federal government through the Economic and Financial Crimes Commission.

Judge Ekwo, while rendering the ruling in a passport release application defended by Agabi, ordered the Deputy Chief Registrar of the Federal High Court to forward the court order to the Nigeria Immigration Service to facilitate movement.

The judge granted the request following the EFCC’s non-objection position to the request.

Judge Ekwo also ordered Adoke to surrender the passport to the custody of the court upon his return to Nigeria.

The judge subsequently set December 6, 7 and 8 to resume his trial.

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Government launches £ 2million grant scheme to help make transport ‘greener and safer’ Thu, 07 Oct 2021 11:14:55 +0000

Start-ups and universities are urged to apply for government grants of up to £ 30,000 to fund innovations to make road, rail and sea transport ‘greener and safer’, the ministry said today transports.

The Transportation Research and Innovation Grant Program (TRIG), due to open in its 11th funding round, will see up to 53 projects to build a better public transport system receive a share of 1 , £ 95million in government funding, according to the DfT.

Past winners of program funding included a portable electric vehicle (EV) charger and an EV battery cooling system, and this year applicants are invited to submit projects around one of three themes: decarbonization maritime; Covid recovery and resilience of the transport system; and the future of freight. Candidates leading future freight projects could be awarded grants of up to £ 100,000 to move quickly from proof of concept to demonstrations, the government said.

The DfT also launched an open call this year for up to 20 projects on any transport-related idea, doubling the total funding available to £ 1.95million.

“Supporting innovation is a priority for us, and I am delighted to support budding UK entrepreneurs as they help us ensure people can travel easily and solve the complex task of decarbonizing our transport system,” a said Transport Minister Trudy Harrison. . “This is vital as we envision a greener and safer transport future that will create jobs across the UK.”

To date, TRIG has awarded over £ 6million in grants to over 200 projects since its inception in 2014. It aims to fund early stage projects, funding small businesses from the start and offering commercial support to strengthen business opportunities.

Previous funding has supported two air purification devices that trap or attack virus droplets to prevent their spread on public transport, a battery cooling system that allows electric vehicle batteries to charge quickly without overheating, and a portable electric vehicle charger for drivers in remote locations.

Nicola Yates, CEO of Connected Places Catapult, also the latest round of the grants program launched today. “The UK’s innovation ecosystem has a strong track record in developing solutions to complex problems,” she said. “The TRIG 2021 call is focused on finding the next wave of cutting-edge transportation solutions, enabling the industry to reach net zero and become more resilient to disruption.”

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Global Virtual Power Plant Market Report 2021-2026 Thu, 07 Oct 2021 10:45:00 +0000

DUBLIN, October 7, 2021 / PRNewswire / – “Virtual Power Plants – Global Market Trajectory & Analytics” report has been added to offer.

Research and Markets logo

Global Virtual Power Plant Market To Reach $ 1.5 billion by 2026

With traditional utilities stretched to breaking point due to rapid population growth, urbanization and the demands of the digital age, the energy transformation is gaining momentum with next-generation concepts like power plants. virtual electrics. Virtual power plants are gaining more and more attention in the energy sector because of their clear advantages over conventional options.

These plants are cloud-based distributed power systems capable of integrating different power sources to improve power generation while ensuring reliable power supply. Virtual power plants facilitate the sale and trading of energy in the electricity market.

Virtual power plants are expected to take a leap forward and become an integral part of the power sector in the coming years, as they allow aggregators and utility companies to interconnect power generation from different sources and distributed power plants. The relevance of these plants is expected to increase considerably due to the changing energy landscape and the importance of the decentralized grid.

In the midst of the COVID-19 crisis, the global virtual power plant market is estimated at US $ 413.5 million in 2020, is expected to reach a revised size of US $ 1.5 billion by 2026, with a CAGR of 24% during the analysis period. Demand response, one of the segments analyzed in the report, is expected to grow at a CAGR of 23.8% to reach US $ 1.5 billion at the end of the analysis period.

After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the distributed generation segment is readjusted to a revised CAGR of 22.3% for the next 7-year period. This segment currently accounts for a 14.9% share of the global virtual power plant market.

Demand response (DR), also known as demand response or load response, encompasses a wide range of manual and automated actions taken on the consumer side of the meter to change electricity consumption in response to demand imbalances. supply of electricity or at an exceptionally high power. prices.

Future market growth will be driven by the increasing demand for Automated Demand Response (Auto-DR) technologies. Distributed generation systems are capable of producing electricity or combined heat and power and are suitable for versatile applications such as continuous, peak, intermittent or standby power supply. Favorable government policy changes, incentives and subsidies catalyze the growth of decentralized production systems.

The US market is estimated at $ 269.7 million in 2021, when China is expected to reach $ 78.9 million by 2026

The virtual power plant market in the United States is estimated at US $ 269.7 million in 2021. The country currently represents a 58.22% share of the global market. China, the world’s second-largest economy, is expected to reach an estimated market size of US $ 78.9 million during the year 2026, with a CAGR of 30.6% throughout the analysis period.

Other notable geographic markets include Japan and Canada, each projects growth of 19.1% and 23.4% respectively during the analysis period. In Europe, Germany is expected to grow by around 23.9% CAGR while the rest of the European market (as defined in the study) will reach US $ 101.3 million at the end of the analysis period.

Asia Pacific continues to experience strong growth as several areas, especially in rural and remote areas of developing economies, still do not have access to the power grid or have limited or unreliable power supplies. The growing momentum for rural electrification, rapid industrialization and increasing demand for quality and reliable electricity from energy-intensive industries are driving growth in the region.

The huge vacuum created by the decommissioning of power plants in developed economies in North America and Western Europe, and the ever-increasing demand for electric power from populated emerging economies, opens up new opportunities for distributed power generation.

Main topics covered:




  • Growing investments in energy infrastructure: the cornerstone of market growth

  • The race between the virus and vaccines is intensifying. In the midst of this chaotic battle, where is the global economy heading in 2021?

  • These are times when questions abound and answers are scarce

  • So how fast or slowly are we moving?

  • india Wave 2 makes it clear that fairness is not part of global COVID policy

  • Progress on vaccinations, why should companies care?

  • With IMF’s Upward Revision of Global GDP Forecast for 2021, Most Companies Are Optimistic on Global Economic Return

  • A look back at 2020 as the worst year in human history that left the world in shambles and industries and markets in turmoil

  • How is the energy industry affected by the pandemic and what is the new normal?

  • Beyond the current challenges, the pandemic will fuel our energy transition

  • Virtual power plants (VPP): meaning, importance, operation and benefits

  • Recent market activity

  • New arrivals

2. FOCUS ON CERTAIN PLAYERS (Total 40 featured)

  • ABB

  • Siemens

  • Schneider Electric

  • Automatic grid

  • Next Kraftwerke

  • AGL Energy

  • Enel X

  • General Electric

  • Blue Pillar, Inc.

  • Cisco Systems, Inc.

  • Enbala Power Networks, Inc.

  • Hitachi, Ltd.

  • Robert Bosch GmbH

  • International Business Machines Corporation


  • Distributed energy production: a key objective of energy transformation and the basis for the rise of the concept of virtual power plants (VPP)

  • Role of Virtual Power Plants (VPPs) in a Decentralized Power Grid

  • Growing Value of Demand Response (DR) emphasizes VPPs as an effective tool to achieve DR goals

  • The rise of smart cities and smart grids bodes well for increased investment in VPPs

  • Smart cities get a COVID-19 boost

  • Smart Grid: A Critical Part of Energy Infrastructure in Smart Cities and a Strong Business Case for VPPs

  • Growing Digitization of Energy to Further Boost VPP Rise

  • COVID-19 accelerates the digital revolution in all sectors

  • Special focus on the digitization of energy

  • Optimal management of renewable energy sources highlights VPPs

  • The concept of decentralized blockchain-based virtual power plants is gaining momentum and prominence

  • Increase in energy trade to benefit market growth




For more information on this report, visit

Media contact:

Research and markets
Laura Wood, senior

For EST office hours, call + 1-917-300-0470
For USA / CAN call toll free + 1-800-526-8630
For GMT office hours, call + 353-1-416-8900

US Fax: 646-607-1904
Fax (outside the United States): + 353-1-481-1716



View original content:—rise-of-smart-cities–smart-grids- bodes-well-to-increase-investments-in-vpps-301395023.html

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Arkansas community groups selected for $ 5.2 million federal Covid-19 relief for after-school and summer youth programs Thu, 07 Oct 2021 08:37:03 +0000

Forty-four of Arkansas’ after-school, summer and extended-year learning programs are new grant recipients totaling $ 5.2 million to help students catch up on the academic learning missed due to the covid-19 pandemic.

The Arkansas Division of Elementary and Secondary Education and the Arkansas State University Out-of-School Network Initiative recently announced the recipients of the US Federal Rescue Plan funding / relief money for the primary and secondary education.

The funding was approved by Congress and enacted by President Joe Biden earlier this year, in part to alleviate student learning loss and support socio-emotional development.

Arkansas grant-receiving organizations, which include school districts, public libraries, vocational and technical programs, faith-based organizations, and higher education institutions, must use the grants for summer programs and programs proven extracurriculars.

“There is no doubt that the pandemic has had an impact on student learning, but in order to help those students most affected, unified support efforts are essential,” said Ivy Pfeffer, deputy commissioner of the division. education.

[CORONAVIRUS: Click here for our complete coverage »]

The funds used by grant recipients are aimed at accelerating student learning, she said.

“Our students deserve the best despite the challenges we have faced, and these programs will strengthen the commitment and dedication to student learning that we have seen over the past year and a half.” , she added.

Laveta Wills-Hale, network director for the Arkansas Out of School Network, said the need for after-school and summer programs predated the start of the pandemic in March 2020.

“For every child participating in an after-school program in Arkansas, three more are waiting to be admitted,” Wills-Hale said, adding that the same goes for summer learning programs.

“In 2019, more than 26,000 additional children would have been enrolled in a program if they had had one. We will continue to work tirelessly to mitigate the impacts of the pandemic and to ensure that all children have access to quality extracurricular and summer activities. learning programs. “

Wills-Hale called federal funding a “critical resource” for communities and state programs. “And we are grateful to the Arkansas Division of Elementary and Secondary Education for their partnership.”

More information about federal grants is available on the Arkansas Out-of-School Network website,, or by calling (501) 660-1012.

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The grant recipients, listed in alphabetical order, with their locations and grant amounts, are:

• Aaron and Berinda International Ministry, Inc., Pine Bluff, $ 149,950.

• Community and Rural Education Advocates doing business as Rural Community Alliance, Little Rock, $ 116,998.

• Arkansas 4H Camps, Little Rock, $ 150,000.

• Arkansas School of Mathematics, Science and the Arts, Hot Springs, $ 26,235.

• Arkansas STEM Coalition, Little Rock, $ 115,390.

• Southeast Arkansas Arts and Science Center, Pine Bluff, $ 22,357.

• Bald Knob School District, Bald Knob, $ 150,000.

• Big Brothers Big Sisters of Central Arkansas, North Little Rock, $ 120,000.

• Maison Brandon, Little Rock, $ 141,242.06.

• Carter’s Crew, North Little Rock, $ 148,830.

• Cathy’s Sweet Dumplings Daycare and Preschool, Eudora, $ 100,258.

• Arkansas Central Library System, Little Rock, $ 150,000.

• Town of Little Rock: West Central Summer STEAM, Little Rock, $ 150,000.

• Clarendon School District, Clarendon, $ 73,244.

• Danville school district, Danville, $ 99,999.

• Elkins School District, Elkins, $ 150,228.

• Friendship ASPIRE Charter Schools, Little Rock / Pine Bluff, $ 150,000.

• Greenbrier School District, Greenbrier, $ 147,458.

• Heart2Heart Connections, Wilmot, $ 121,830.

• High impact movement, hot springs, $ 149,999.

• Hispanic Community Services, Inc. (El Centro Hispano), Jonesboro, $ 50,000.

• House About It Community and Economic Development, Little Rock, $ 100,424.

• Consolidated from Izard County, Violet Hill, $ 150,003.

• Camp Joseph Pfeifer Kiwanis, Little Rock, $ 114,400.

• Life Skills for Youth, Little Rock, $ 149,999.

• LISA Academy Charter School System, Little Rock, $ 150,000.

• Mansfield Middle School, Mansfield, $ 154,517.

• One Community, Inc., Springdale, $ 53,710.

• Our refuge, Little Rock, $ 124,534.03.

• Ozark Guidance Arisa Health, Fayetteville, $ 135,973.

• Producing Outstanding People, Inc./Old St. Paul MBC, West Memphis, $ 49,875.

• Pulaski County Youth Services-Afterschool, Little Rock, $ 150,000.

• Rogers, Rogers Public Schools, $ 125,000.

• Second Baptist Church, Little Rock, $ 116,578.

• SOAR NWA, Springdale, $ 150,000.

• Songbird Media, Little Rock, $ 66,550.

• Springdale School District, $ 150,000.

• Teen Action Support Center, Rogers, $ 99,985.

• Tendaji Community Development Corp., Little Rock, $ 149,494.

• University of Arkansas at Little Rock Children International, $ 149,167.

• United Family Services, Inc., Pine Bluff, $ 150,000.

• Washington Foundation’s Lil ‘Jacob Learning Center, Eudora, $ 49,622.

• We Care of Pulaski County, Little Rock, $ 68,851.

• Whole Youth Services, Inc., Jonesboro, $ 149,050.

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Insolvency Donor Prepares for Rise in Covid Cases | New Thu, 07 Oct 2021 08:27:51 +0000

Publicly traded funder Manolete has reported its highest number of case referrals since last summer and is bracing for an increase in the number of insolvency claims. Many are expected to involve allegedly fraudulent claims over the government’s Covid emergency support.

Manolete Partners plc, which buys and funds insolvency claims, received 50 case referrals in September, its highest number since July 2020. “It’s slightly morbid, but for our company, it’s definitely one thing. positive, ”said CEO Steven Cooklin.

The firm has hired an additional lawyer to handle cases in the northeast and hopes to recruit another in January. “The challenge is to ensure that we have the internal human resources to deal with the likely very high number of insolvency claims that are going to occur in the coming months and years,” Cooklin said.

The Insolvency and Corporate Governance Act of 2020, introduced to help businesses survive the pandemic, has barred creditors from petitioning for liquidation. As a result, the number of insolvencies in the UK fell by 40%, which had an “immediate ripple effect” on Manolete. Pre-tax profits fell 26% in the year ended March 31, 2021.

On October 1, however, many of these restrictions were lifted and the majority of creditors are now able to initiate liquidation proceedings against the debtor companies.

Cooklin said the company has already seen a “lot” of cases related to allegedly fraudulent Covid emergency funding, such as coronavirus rebound loans and money on leave. “We expect a lot more. We have already bought a number of these receivables from directors who basically pocketed the rebound loan money and then put the company into liquidation in the hopes of burying it and not having to pay it back, ”he said. he declared.

In August, Burford Capital, another litigation funder, reported that more than 40% of its cases had been delayed this year, citing postponement of hearing dates and a reluctance to settle disputes.

However, Cooklin said insolvency claims are less likely to be affected by court delays, as only 3% of his cases go to trial.

Manolete shares plunged from 565p to 195p between May 2020 and February 2021, but have since risen steadily, now standing at 310p.

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