Aging farmers, dying farmland

December 6, 2021

Montana Loans

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Aging farmers, dying farmland


Credit to Farmers

The expansion of the farm or ranch involves an investment in capital, and is especially challenging for those who are only beginning their journey in business. We have designed loan programs for farmers that are younger than of 35 or who have more than ten years of experience. They are comparable to our loan options that have modified the criteria for approval of credit in order to accommodate this need in the following manner. This program will allow you to get the money you require like this, while also aiding you to improve your financial position.

“At present, the production of eggs is the thing I’m most interested in and also something my grandfather was interested in. About 90 percent of eggs that are produced in the United States [are produced by the 60 farms that are owned by the company” Spencer explained.

Montana along with Montana and the United States of America are not the only countries that are experiencing a shift towards industrialization. As America shifts away from farms that were owned by families and towards growth, corporations are have a greater say in and control of the agricultural sector, using central processing facilities as well as manufacturing cheap products to satisfy the needs of the consumer. Shipping is available throughout in the United States and internationally A increase in the number of farms controlled by companies according to USDA statistics, occurred between 2012 and 2017. The increase was around 10 percent between 2012 and 2017. The amount of farms that are owned and operated by private individuals or households has declined by about the same amount during the same time.

Spencer is a real person in this sense. “I’m not certain if there’s any issue with this. This is just how things are at the moment “he explained. “There always is food to be found. Which do you believe it could be? Are you more a fan of family-owned farms to corporate farms? The agricultural sector will be increasingly controlled by corporate. Since a long time the big firms have attempted to consolidate their control over their businesses in operations and industries.”

The evolution of the American agriculture system however it has its own set of consequences. Small farms and ranches make important economic contributions to local economies, investing money into the local economy selling their products to communities, as well as also creating jobs for the local community. Rural communities are harmed when the longevity is at risk as well as when the employment opportunities available for the agricultural sector are cut down.

“Isn’t it the case that when you purchase something from Walmart there’s no transaction cost and there is no investment in our economy? The location is Walmart’s headquarters “The Community Food & Agriculture Coalition (CFAC) is an organization based in Missoula which works to create regional and local food infrastructure According to Bonnie Buckingham, executive director of the group. It’s feasible in the western part of Montana. “Community and value” is created in the sense that people are connected with their local communities through food, purchasing products from farmers, or by participating in events that bring people together. For producers, these kinds of events help strengthen bonds between the participants in the community.

The smaller farms also are green, as they tend to not use an excessive amount of toxic pesticides and will be more likely to aid in the protection of the species diversity in the agricultural and ecological realm as well as other advantages. They also have a higher ethical standard from an animal’s point viewpoint than most people. Spencer is a great example. He feeds his chickens a 100 100% vegetarian diet and keeps in cages which he claims is the most humane approach.

It is possible that farms like Spencer’s could be destroyed completely due to development, which will result in irreparable erosion of soil. Only a small amount of Montana’s topsoil could be utilized for agriculture however, only in small amounts. As per the CFAC the CFAC, just 8 percent of the land of Missoula County, for example has soils suitable for the production of agricultural crops. It would take about 1000 years to make three centimeters of topsoil out of the soil developed over the course of many thousands of years.

The majority of the soil is in the lower part of Missoula Valley, which happens to be the exact location that developers are currently eyeing to develop. If the soil isn’t properly prepared for paver and paving, it will not be able to carry out vital ecological functions like food production or water retention. It is also able to absorb carbon dioxide, which is a vital service to the ecosystem, and becomes more important as policymakers try to slow the progression of global warming.

“It is possible that the soil could be lost forever should we not safeguard it today. This kind of soil might be located in a field that can be grazed with horses, or just left to grow grass. It could be possible to obtain viable productive, productive, as well as productive soils near term which can be protected similar way as described in this article “Buckingham stated. If there’s a structure or industry located on it, or the land is dispersed and divided, we will never be able cultivate food on the soil.

In the course of addressing certain issues that confront the state, non-profit organizations and officials from government have come up with inventive ways to broaden its activities and engage more people.We’ll be in the process of ending our current state of things if we don’t safeguard it in its current shape.

One example of this could be Trust Montana. Trust Montana is a non-profit entity committed to the preservation of the agricultural land across the state. The organization was previously focused around the protection of low-cost housing However, in May 2020, the organization partnered along with other organisations, such as the Agrarian Trust and the Vilicus Training Institute in order to create the Montana Agrarian Commons, which is currently at its third year in operation. To stop the development of land that is not agricultural communities will be granted conservation easements that permit the parcel of land to remain an estate of trust to be used by the community, and it will be let to new farmers at a reasonable cost. Agrarian Commons is a program which can offer a unique selling opportunity for farmers and ranchers who have retired who wish to see their land be managed and developed with respect for the environment.

“Agrarian commons are designed to protect land for agriculture use in perpetuity to benefit of the future generations. Farmers also have leases for long-term tenure of their land “King-Ries explained. “And we’re seeking ways to assist farmers in earning cash and creating equity in a way similar to the way owners or landowners achieve this without the property getting sold for market value , and without the property becoming a commodity in its own.”

CFAC has adopted a unique approach to establishing a website named Farm Link Montana, which is designed to aid those who are new to farming, retiring and those who want to sell their farm land. The website, according to Mary Ellis, the new Farm Programs Coordinator of the coalition’s Beginning Farmers and Ranchers Program is an “kind match service.” She described it as such.”The retired farmer may be able collaborate with them to help them move gradually to larger areas or make a deal to sign a lease or a partnership together for a specific duration and for a limited time period,’ Ellis explained. So, I’m hoping to make it easier for farmers looking to get started. ”

According to Ellis the range of matches is from two to five games every year go over the normal investigation phase in the procedure. Even though that it is an insignificant amount, “in our program, we believe it is an impressive achievement when compared to other aspects to be taken into consideration,” she explained.

“This item has been tested on the field. Farmer-approved. The program offers grants of between $5,000 and $5,000 to farms in order to aid new farmers at the beginning stages the process of establishing their farms. A collaboration with Kiva which is a non-profit organisation which provides loans to those who make the difference in their community, allows the organization to provide small loans to farms and other agriculture-related enterprises.

Zach Brown of the Gallatin County Commission has been working with the Gallatin County Commission to aid farmers who are just beginning in their careers as farmers and face financial challenges. This legislation, dubbed the Montana Farmer Student Loan Assistance Program legislation that he wrote was approved by the year of 2019. The new farmers and ranchers could get up to 50 percent of their student loan payments through this scheme, managed through the State Department of Agriculture. Individuals who decide to work in the field could discover that the debt is an enormous obstacle to their dreams.

“Essentially the thing it’s doing is creating a process by which a prospective farmer or rancher could submit an application to government officials for loans aid program.” writes the book’s author. Brown has shared his ideas. Therefore that when they return to their ranches or farms they aid in the payment of students’ loans

MORGAN ROSE was one of the first organizations to be granted assistance with the repayment of loans from The Ministry of Agriculture’s Repayment Assistance Program. Dillon, Montana, is the home of Rose who is a fourth generation Montana breeder birthed and raised in the tiny town of only a few hundred people located in the southwest region of the state. It has the estimated number of people residing there at 5,000. “There isn’t any moment that I was contemplating pursuing a job in any other field than the field of production agriculture,” she said emphatically.

Copper Branch permanently closes its Portland, Maine location

November 24, 2022

Montana Economy

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Less than three years after its official opening in Portland’s Old Port, vegan chain Copper Branch seems to be leaving town rather quietly. Despite their Google listing saying the restaurant is only temporarily closed, a “for rent” sign was placed in the window of 0 Canal Plaza, which probably means the end has come.

Loopnet.com (0 Canal Plaza, Portland, ME)

Loopnet.com (0 Canal Plaza, Portland, ME)

If this is the end of Copper Branch in Portland, it would be a strange turn of events. The Canadian restaurant was the fastest growing plant-based fast food chain in North America before the pandemic. The Copper Branch opening in Portland was only their third restaurant in the United States and was considered a marquee location for the company.

Loopnet.com (0 Canal Plaza, Portland, ME)

Loopnet.com (0 Canal Plaza, Portland, ME)

But as many other restaurants in the Portland area where Copper Branch is located can attest, the pandemic and post-pandemic food crowds have been different. The same lunch throngs that thronged many restaurants every workday just aren’t there anymore. The same goes for a smaller but still significant breakfast crowd. Many restaurants depended on constant lunchtime activity to stay afloat.

Loopnet.com (0 Canal Plaza, Portland, ME)

Loopnet.com (0 Canal Plaza, Portland, ME)

When Copper Branch opened in December 2019, vegan options throughout Portland were available but scarce. Less than three years later, many restaurants in the city are offering vegan and vegetarian options on their menu, with some restaurants even offering a dedicated vegan menu.

The space left at Canal Plaza will be unique. The smaller square footage could be ideal for a cafe, ice cream shop, or other fast-casual restaurant.


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Rochester man charged with negligence in death of young son

November 22, 2022

Montana Loans

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Rochester, Minnesota (News KROC-AM) – A Rochester man has been charged with child neglect in connection with the death of his 3-year-old son earlier this year.

Darius Pitchford, 44, is accused of removing his child from the emergency department at Olmsted Medical Center against medical advice in the early morning hours of February 14. Rochester police were called to the family’s home about four hours later after the boy’s mother found him dead.

The criminal complaint says doctors and other emergency department staff found the child pale, lethargic and dehydrated when he arrived with his father. Medical records indicate that the father initially refused to allow medical professionals to run blood tests on the victim, but then relented and tests revealed a high white blood cell count as well as “problems with blood.” dangerous electrolytes that could affect his heart” and signs of kidney failure. .

Before an order for X-rays and other tests could be carried out, one of the witnesses from the emergency department told investigators that Pitchford had maintained that he had been lied to and that he wanted to leave “against medical advice. without further medical intervention”. Court documents say the discharge papers read: “Go back to the emergency room as soon as possible. Your child may die.” The witness also told investigators he urged Pitchford to leave the boy in hospital and told him he could die.

An autopsy determined that the young child had died from complications from a type of congenital hernia that can cause intestinal blockages. The criminal complaint says the condition is detectable by X-ray examination and would require emergency surgery.

Last month, the child’s mother filed a wrongful death lawsuit against Olmsted Medical Center. Court records show that the WTO responded with a motion to dismiss the lawsuit on November 4. This request is still pending.

WATCH: States with the most new small businesses per capita

HomeTrust Mortgage Reports Data Breach Following Ransomware Attack | Console and Associates, PC

November 22, 2022

Montana Mortgages

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On November 23, 2022, HomeTrust Mortgage filed a data breach with the Montana Attorney General after hackers carried out a successful ransomware attack on the company, compromising consumer data stored on the company’s computer system. According to HomeTrust Mortgage, the breach resulted in the compromise of some customers’ names, addresses and social security numbers. Recently, HomeTrust Mortgage sent data breach letters to all affected parties, informing them of the incident and what they can do to protect themselves against identity theft and other fraud.

If you were shocked to receive a data breach letter from a mortgage bank, you are not alone. Consumers implicitly trust companies, especially those in the financial services industry, to keep their information secure. Unsurprisingly, these companies are frequently targeted by cyberattacks because they usually store valuable information for hackers. However, as we have discussed in other posts, US data breach laws allow victims of a data breach to pursue a claim for compensation against any company that negligently disclosed its data. Although it is too early to say whether HomeTrust Mortgage was negligent, the possibility cannot be ruled out.

What we know about the Home Mortgage of America data breach

The available information regarding the Home Mortgage of America breach comes from the company’s filing with the Montana Attorney General. According to this source, on July 15, 2022, HomeTrust Mortgage became aware of suspicious activity within its computer system. In response, the company began working with third-party data security experts to better understand the incident and whether any consumer information had been compromised as a result.

HomeTrust Mortgage’s investigation confirmed that the company had been the victim of a ransomware attack and that an unauthorized party gained access to the HomeTrust Mortgage network. The investigation also revealed that the unauthorized party deleted some of the company’s network files and that these files contained sensitive consumer information.

After discovering that sensitive consumer data had been made available to an unauthorized party, Home Mortgage of America began reviewing the affected files to determine what information had been compromised and which consumers had been affected. Although the information disclosed will vary depending on the individual, it may include your name, address, and social security number.

On November 23, 2022, Home Mortgage of America sent data breach letters to everyone whose information was compromised as a result of the recent data security incident.

More information on the HomeTrust mortgage

Founded in 1986, HomeTrust Mortgage is a noncustodial mortgage bank based in Houston, Texas. The company operates 13 locations across Texas, New Mexico, Alabama, Florida, Georgia, Tennessee, Oklahoma and Colorado. Home Mortgage of America employs over 100 people and generates approximately $23 million in annual revenue.

Florida Generates the Most Homeowners’ Bonuses in the US: AM Best

November 22, 2022

Montana Lending

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Florida is the US state with the most premiums in home insurance lines, AM Best analysts have revealed.

Despite being only the third most populous state, it generated $12.4 billion in direct homeowner bonuses in 2021. That’s more than California, the most populous state, with 11, $2 billion in direct homeowner bonuses, and the second most populous Texas at $11.9 billion. , according to BestLink.

Analysts have pointed out that Florida’s storm-prone location and tough litigation environment keep it at the forefront among U.S. states for losses and the cost of home insurance.

AM Best said: “The total direct premium for owners’ carriers in Florida continues to grow, increasing 11.7% from 2020 to 2021. Florida’s rise was the fourth largest year-over-year percentage increase in 2021. , behind California and the fast-growing Idaho and Montana. The direct premium for owner carriers, in total in the United States, reached $119.7 billion in 2021, an increase of 8.4% compared to 2020.

Analysts also found that due to market dynamics over the past year, some carriers have had to reassess their approach to Florida real estate risk.

Stratumn, by SIA Partners

For example, in July 2022, Bankers Insurance Group announced that it was filing an application to exit the business of owners in Florida, citing in a letter its concerns about maintaining its ability to meet the requirements of sponsored companies by the government, such as Fannie Mae and Freddie Mac.

Shareholder-owned GSEs have been licensed by the US Congress to facilitate mortgage and agricultural lending, including the Federal National Mortgage Association, commonly referred to as Fannie Mae and Federal Home Loan Mortgage Corporation, or Freddie Mac. They incorporate references to AM Best designations in their insurance evaluation documents.

Freddie Mac establishes a requirement that AM’s top-rated insurers and reinsurers must possess a financial strength rating of B+ or better, and non-admitted insurers must hold a minimum rating of A (Excellent).

Fannie Mae requires insurers and reinsurers with the highest AM ratings to hold an FSR of B (Fair) or better.

Bankers Insurance Group is not alone in deciding to pull out of the Florida homeowners market, as it has been joined by 13 other companies that have stopped underwriting homeowners insurance in the state this year, according to Mark Friedlander of the Insurance Information Institute.

Three have since become insolvent, Friedlander added. Of the remaining 10, three said they were voluntarily leaving homeowners’ lines in Florida.

The other seven called the moratorium on new business temporary but did not say when they might resume writing. Many cite the state’s legislative inaction to dissuade trial attorneys from taking action against real estate carriers, Friedlander said.

The rating agency also noted how dependent insurers operating in Florida are on reinsurance. AM Best said, “Each year, insurers operating in the Sunshine State cede billions of dollars in reinsurance premiums.

“Deal retention rates, defined as the percentage of a company’s raw paperwork that is retained for its own account, range from low numbers to 100%. Much of Florida’s reinsurance support comes from Bermuda-based reinsurers.

He added, “AM Best defines Florida personal property specialists as Florida-domiciled regional insurers with predominant exposures to Florida personal property insurance. The commentary revealed that “Florida personal property specialists show significantly higher reliance on reinsurance than the industry average.”

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Are official “state flavors” a thing? What should New Mexico be?

November 21, 2022

Montana Mortgages

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New Mexico should have an official state flavor, says state senator Bill Soules of Las Cruces.

Photo by Phillip Larking on Unsplash

Photo by Phillip Larking on Unsplash

The flavor he has in mind is that of “roasted green chilies”, which is… actually a very good choice.

As New Mexico Agriculture Secretary Jeff Witte says the smell of roasting green chili peppers is “incomparable” and “unique to our state and brings that sense of home to people who have moved.” . Hard to argue with that!

I didn’t even know official state flavorings existed. Turns out… they’re not.

Photo by Elly Johnson on Unsplash

Photo by Elly Johnson on Unsplash

A Google search for “official state aroma” and “official state scent” turned up nothing. EXCEPT the story we’re talking about here.

That doesn’t mean it’s a bad idea. The first person to say, “What this state needs is an official bird” probably got a lot of funny looks.

Like I said, roasting green chiles is a really good choice for New Mexico. But are there any other Land of Enchantment smells that should be considered? Of course there are, otherwise I couldn’t extract 250 words from this article!


Photo by Daniel Tuttle on Unsplash

Photo by Daniel Tuttle on Unsplash

1.) Desert after a rain

Anywhere in the desert smells really good after a rain, including El Paso. The one from New Mexico is perhaps a little sweeter.


Photo by Budding. on Unsplash

Photo by Budding. on Unsplash

2.) Speaking of “Sweet”

Marijuana has been recreational in New Mexico for a few months now.


Photo by Budding. on Unsplash

Photo by Budding. on Unsplash

3.) However, not everything is legal.

New Mexico has really honed in on its association with what some are calling “the greatest TV show of all time.” For that reason, “meth lab in a run-down RV” should at least be on the ballot.

Did I forget something? Also, what is YOUR official flavor of the State of origin be? Let me know in the comments!

KEEP READING: See the Richest Person in Every State

Montana’s outdoor recreation sector grew 18% in 2021

November 18, 2022

Montana Economy

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The importance of Montana’s outdoor recreation industry has been black-and-white validated as a cornerstone of the state’s economy in 2021, according to an impact report released by the U.S. Bureau of Analysis economy (BEA) last week. Outdoor recreation accounted for 4.4% of Montana’s gross domestic product (GDP) last year, up 0.1% from 2020 and the second highest percentage of any state, behind Hawaii in 4.8%.

Montana is also among the states with the highest percentage of workers employed in the industry, 5.4%, accounting for 27,584 jobs. Hawaii again leads this category with 7.1% of the industry’s workforce, followed by Alaska with 5.6%. Montana and Wyoming are tied for fourth. Montana added 1,584 outdoor recreation jobs in 2021.

Given the outsized impact of the multi-year pandemic on the outdoor industry – the US Census Bureau ranked it the second most affected industry behind the restaurant and lodging sector – the BEA 2021 report shows a remarkable rebound from the previous year, even as the pandemic continued to affect business operations and the use of public lands.

Montana’s $2.6 billion outdoor recreation industry topped its 2019 figure, while the national figure of $453.9 billion was only $6 billion lower than in 2019 and reported an 18.9% increase from 2020.

This was the fifth publication of BEA’s impact study on the outdoor recreation industry following the Outdoor Recreation Jobs and Economic Impact Act, enacted by the President Barack Obama in 2016, which broadened the analysis of the federal government.

“This data has been a powerful advocacy tool at the state and national levels, making it easier for policy makers to understand the economic impact of the outdoor recreation industry across the country and in their own districts and state,” Hannah Wintucky, Government Affairs Policy Fellow with the Outdoor Industry Association, said in a press release. “These numbers help us tell our compelling and credible economic story.”

The Outdoor Industry Association, a non-profit organization that promotes access to the outdoors in the United States, reports that the number of outdoor participants has increased by 26% since the start of the pandemic in 2020.

Within the leisure industry, the report classifies activities into three general categories: conventional activities (including activities such as bicycling, boating, hiking and hunting); other main activities (such as gardening and outdoor concerts); and supporting activities (such as construction, travel and tourism, local travel, and government expenditure).

In conventional activities, the following indicators stood out in 2021:

Boating/fishing remained the largest conventional business in the nation with an added value of $27.3 billion in current dollars and was the largest conventional business in 27 states and the District of Columbia. Montana saw boating and fishing decrease by more than 10%, but the activity still leads the state at $163.1 million.

VR was the second largest conventional activity nationally with a current dollar value added of $25.1 billion, and ranked the same in Montana, where it contributed $160.4 million, an increase 14.5% year-over-year. It was the largest conventional activity in 15 states.

Hunting/shooting/trapping was the third-largest conventional business in the nation with current dollar value added of $10.8 billion, and in Montana where its $85 million contribution to the sector was a 17.3% increase from 2020.

Snow activities for Montana grossed $54.7 million, ranking the state 19th in the nation for overall value added. The largest contributors were Colorado ($1.3 billion), Utah ($519.4 million) and California ($505.7 million).

Report examines financial hardship of NJ veterans

November 18, 2022

Montana Mortgages

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Even before the pandemic took hold and disrupted the jobs and financial security of many, a quarter of New Jersey veterans struggled to afford the basic costs of housing, transportation and other necessities, according to a United Way of Northern New Jersey report.

In 2019, the report finds that more than 71,000 New Jersey residents who at some point served our country were either living in poverty (4%) or below what United Way calls ALICE – limited assets, income limited, employed (20%); they earn above the poverty line but not enough to cover current expenses.

“With our freedom comes the responsibility to ensure that those who have served and sacrificed have no trouble making ends meet when they return home,” said Kiran Handa Gaudioso, CEO of United Way of Northern New Jersey. “While veterans have additional supports not given to non-veterans, there is clearly still room for improvement.”

The report noted some bright spots for Garden State veterans. For example, they have higher full-time employment and home ownership rates than those who did not serve.

But this group is also more likely to struggle to afford the place they call home, according to the report. Fifty-one percent of New Jersey veterans earning below the ALICE threshold reported spending more than 35 percent of their income on mortgages, utilities, taxes and insurance. Among renters, 64% of struggling veterans said they were burdened with rental costs.

“We also see a challenge around access to technology…Veterans are less likely to have high-speed internet access at home,” said Stephanie Hoopes, country director for United for ALICE. “Throughout the pandemic, we have seen how important this access is, not only for employment, but also for health services.”

Families in the ALICE range often earn too much to qualify for public assistance. More than 62,000 veterans below the ALICE threshold did not participate in SNAP, aka food stamps, in 2019, according to the report. Even among those living in poverty, 10% participated in the food aid program.

Almost all veterans reported having some form of health insurance in 2019. Thanks to Medicare, 100% of elderly veterans in the state were covered by health insurance.

The report noted disparities between races and ethnicities, as well as disability status. In 2019, 32% of black veterans and 29% of Hispanic veterans lived below the ALICE threshold, compared to 23% of white veterans and 21% of Asian veterans.

Noting that much has changed since 2019, the report’s researchers used data from 2021 to suggest that veterans living below the ALICE threshold were more likely than veterans above the threshold to be affected by the pandemic.

In the United States, 17% of veterans reported having financial difficulties. Compared to veterans living above the ALICE threshold, veterans living below the threshold were nearly five times more likely to have received free meals or groceries through a food pantry or local organization .

Dino Flammia is a reporter for New Jersey 101.5. You can reach him at [email protected]

Click here to contact an editor about a comment or correction for this story.

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Stacker analyzed data from the Census Bureau’s 2019 American Community Survey to determine the three most popular destinations for people leaving each state.

States with the most registered hunters

Stacker analyzed data from the US Fish and Wildlife Service to determine which states have the most registered hunters. Read on to see how your state ranks on Stacker’s list.

2nd Annual Holiday Art Walk in Downtown Lake Charles

November 17, 2022

Montana Loans

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Vacation is finally here ! Presented by the SWLA Arts and Humanities Council the 2nd Annual Holiday Art Walk it’s Saturday, November 26 from 11 a.m. to 3 p.m. and is sponsored by Entergy.

The Art Walk is all about supporting and celebrating our local artists and businesses. It just so happens that this year’s event will take place on Small Business Saturday, one of the busiest holiday shopping days for small businesses in the country. So the timing is perfect! Plus, it gives us another great reason to get out and shop during this weekend’s 2nd Annual Art Walk.

Wear comfortable clothes and shoes as there will be plenty to see with over 40 participating art vendors. The Art Market will be held at the Businesses on Ryan Street between Pujo and Mill Street. Also, on Broad Street between Bilbo and Ryan Street.

Stroll Broad and Ryan Streets to see window paintings featured by the Downtown Business Association. With all that walking you are sure to be hungry and they have you covered too. Food trucks will be parked nearby Barbers on Broad. Check out the beer garden and enjoy the hot chocolate stands. The little ones can join in the fun with children’s activities during the event.

A stage will be set up at the intersection of Broad and Ryan Street with live performances from Unsupervised dance studio. Other performances will include theater groups and musicians Mark Portier and Sophia Tassin, Morgan Allain, Daneisha Davis and Jason Sprick. For a full list of Holiday Art Walk entertainment and venues, visit the Arts & Humanities Council at Facebook.

The art walk ends at 3 p.m. so everyone can head to the civic center to watch the annual meeting Light up the lake” Christmas Celebration presented by the City of Lake Charles. The Lakeside Christmas Concert will kick off the Christmas festivities at 3:30 p.m. live at the Arcade Amphitheater, followed by the lighting ceremony and fireworks.

WATCH: States with the most new small businesses per capita

CIL expects 50 million tonnes sales through e-auctions in H2

November 16, 2022

Montana Lending

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State-owned Coal India expects sales of around 50 million tonnes through its online auction platform in the second half of this fiscal year.

The coal miner had sold around 30 million tonnes through the online auction platform in the first half.

“We have already done 30 mt in two quarters. In the third and fourth quarters, another 50 tons should be there. I won’t be able to commit anything, but it will be more than what we have done. EYELASH President Pramod Agrawal told reporters on the sidelines of the Global Mining Summit 2022, hosted by CII.

In the last fiscal year, the volume of electronic auctions amounted to 108 million tonnes.

In the second quarter of this fucal, Coal India had sold 10.36 million tons through electronic auctions and the average realization was Rs 6,061 per ton. The realization of coal sales under the fuel supply agreement was Rs 1413 per ton from sales of 141 million tons.

Read also : Five Star Business Finance Sticks to Secured Loan Segment

“Until now, the priority has been to meet the needs of the electricity sector and our production has increased this year. So in the third and fourth quarters, we will see an increase in electronic auction volume,” Agrawal said.

According to him, the coal miner was all about evacuation and sustainability.

Production will not be a problem but evacuation will be a challenge, he said.

“The company was investing heavily in first-mile connectivity and mechanized evacuation…in three or four years most evacuations will be mechanized,” Agrawal said.

“We have aggressively embraced digitization. Having real-time online data can help improve productivity by 20-30%,” he said.

Republicans seem to understand that their anti-abortion agenda is unpopular

November 15, 2022

Montana Economy

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Despite access to public polls for months that showed the majority of Americans did not support the fall of Roe v. Wade, the republican party finally seems to be imposing itself. All it took was for Democrats to maintain control of the Senate, win a series of key gubernatorial contests and avoid a major rout in the House, where Republicans are only poised to win a slight majority. As the dust settles following the mid-term reviews, one thing is clear: it is not only the economy, stupid.

Much blame has been thrown since the predicted “red wave” turned out to be more of a ripple. One of those targets is, unsurprisingly, the former president Donald Trump, whose hand-picked candidates largely turned out to be duds and could have cost the Republican Party the Senate and several governor’s mansions. In the words of the financier Ken Griffin, who was one of the GOP’s biggest donors this cycle, Trump is a “three-time loser.” But Republicans have also begun to recognize abortion as a motivator for voters.

Utah Senator Mitt Romney Told HuffPost, “I think abortion was a much bigger issue against us than we anticipated.” North Carolina Senator Thomas Tillis echoes the sentiment. “Dobbs impacted suburban voting,” he said, referring to the Supreme Court ruling, which gutted federal abortion protections. Likewise, the senator Pat Toomey acknowledged that his party groped their message in the post-deer countryside. “Republicans have been slow to find their footing, and I’m not sure all Republicans ever have,” he told Politico.

Early numbers show Democrats enjoying strong turnout from young voters in swing states; according to NBC News exit polls, 63% of voters between the ages of 18 and 29 voted for the Democrats, compared to just 35% who voted for the Republican candidates. Among Democratic voters, a staggering 76% said abortion was their number one issue heading into the polls.

As I reported, the salience of abortion was not only apparent in major Senate and House races, but in a range of ballot measures. Vermont and Michigan have voted to enshrine the right to abortion in their state constitutions. Californians went further by passing an election measure that would also protect the right to contraceptives. Access to abortion has even proven popular in red states; voters in Montana and Kentucky overwhelmingly voted against measures to erode reproductive rights. A similar campaign move to restrict abortion rights failed resoundingly in Kansas — in a primary election, nonetheless. Still, Marilyn Musgrave, the vice president of government affairs for the anti-abortion group Susan B. Anthony Pro-Life America, recently indicated that she thinks Republicans should have pushed their anti-abortion measure Stronger. “Republicans were talking about inflation and crime and not really fighting back” against Democratic pro-abortion messaging, she told Politico.

While Democrats have performed better than expected this cycle, without Republican support they will be unable to codify the protections once provided by Roe vs. Wade at the federal level, a reality Joe Biden recognised. “I don’t think they can expect much else that we’re going to stand our ground,” the president said Monday when asked at a press conference what Americans can expect from Congress. concerning the right to abortion.

Don ‘K’ talks about Montana’s Republican ‘supermajority’ and more

November 14, 2022

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If all of the latest election results stand after the provisional ballots are counted, and if a 10-vote lead survives a recount, Montana Republicans will hold 103 of the seats in the state legislature. They have already obtained a “supermajority”, the question is how big are they? To top it off, Republicans also won the two statewide congressional seats that will be held by Matt Rosendale in the East and Ryan Zinke in the West.

We spoke with Don “K”, the chairman of the Republican Party of Montana following the big Republican victories in the 2022 election in Montana.

Don “K”: Montanans decided to keep Montana, Montana…the voters spoke loudly. Like I said, they want Republican leadership. The Democratic Party has left the hard workers of Montana behind. Their radical enlightened program is not embraced by the Montanese. That was pretty clear in sending Zinke and Rosendale back to Washington, DC to hold the administration of the Biden administration accountable.

Don K said the GOP turnout was pretty good for the GOP. He specifically cited Butte and Silver Bow County as strong for Zinke and Republicans over previous elections.

Here’s what else struck me: None of the Democratic congressional candidates, nor the so-called independent candidate in the Eastern District congressional race (Tranel, Ronning, Buchanan, etc.) called on their respective Republican opponent to concede the race and congratulate the winner on their election.

Here’s the full audio with Don “K” from the MT GOP:

By the way, the offer continues to go out to the Democratic Party of Montana to join us on the air as well.

KEEP READING: See notable new words that were coined the year you were born

Cable’s most popular show dubs America’s rural rage.

November 14, 2022

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Like a approved Yellowstone sick which was oddly constrained watching every minute of Taylor Sheridan’s flagship show, full of highly analyzable propaganda for cattle, hats and the American way, I was surprised to find myself with a new feeling after watching the back-to-back episodes that open its fifth season: boredom, plus a bit of sadness and fear. Yellowstone has always been reactionary, only interested in the feelings of a settler family who owned a ranch from, well, around 1883but now his concerns have constricted, his flesh turning lean and his culture war bones creeping closer to the surface.

There are soapy B and C storylines in these first two episodes – a car accident results in a lost pregnancy, two siblings torment each other as part of an ongoing rivalry – but the main course is politics. It’s always been part of the show, of course, but now the subtext is text. John Dutton (Kevin Costner) has won a race to become Montana’s new GOP governor, telling the electorate his opponent is “East Coast politics invading the mountains.” Its signs read “Dutton: For the Land.”

At the start of the first episode, John is mostly pissed off that he won his election, because John Dutton is truly never satisfied. The season opens with him staring into the distance on election night, telling his daughter Beth (Kelly Reilly), who is his versatile and always faithful assistant on Girl Friday, when she congratulates him: “Joy is not what I’m feeling.” The Democratic candidate, who has only lived in Montana for nine years, calls for giving in. He asks John, putting a quivering question mark at the end of the sentence, “I hope you fight as hard for my followers as I would fight for yours?” John answers without hesitation: “I fight for what is right. I don’t care who supports him.

That statement elicited an immediate glare from me, accompanied by a jerking motion. Immature, maybe, but that’s more and more what Yellowstone deserves, as he continues his test game how far will we go to stay on John Dutton’s side. Several times during these two episodes, we hear directly from him that he only became governor to prevent a proposed development project from ruining his ranch. Over the past few seasons, through a series of negotiations, a group of townspeople have won the right to build an airport and a housing estate. You better believe John Dutton will do anything to stop this – even become a one-issue governor, only caring about running “out of state” (including money from the people funding this development , one of whom improbably calls the Duttons — wealthy and politically connected beyond belief — “fucking hillbillies”) out of town. You see, they just don’t understand the importance of The Land, especially John Dutton’s ranch.

John Dutton has the governor’s office, but he doesn’t want to be there. Lugubrious music plays on the stage of its inauguration, as a young black girl sings the Star-Spangled Bannerher presence at this all-GOP party reinforcing the Tressie McMillan Cottom point made about the show earlier this year in the New York Times: Yellowstone, while being “conservative” if you use that word in its most blunt sense, is “multi-ethnic, multi-racial and multi-class”, offering “nominal diversity” which “implies that conservatives don’t hate anyone, as long as everyone is ready to conform to their way of life.” After the girl is done singing, Dutton tells the audience that he will cancel the airport project. More than that, he will tax anyone who comes from outside of It will double their property taxes, add a six percent sales tax, new vehicle registration fees.

“The message I will send is this,” he said, every word almost mournful in its rudeness, in Dutton fashion. “We are not your playground, we are not your refuge from the pollution, traffic and mismanagement of your home states. It’s our home. If you choose to make Montana your home, you will begin to treat it like a home, not a vacation rental.

Yellowstone barely acknowledged the pandemic – when, in an episode a few seasons ago, a newscaster on Beth’s car radio mentioned something about the coronavirus, I started in confusion, so absent had it- she’s been part of the plot—but the way the show leans into her longstanding rural antagonism toward outsiders feels like a response to post-2020 migration from urban centers—especially in places like Montana. In the second episode of the new season, Beth is drinking at a bar when a well-groomed, tanned man approaches her and tries to strike up a conversation. She cut it like she was playing the Marine Todd meme in real life:

You are a teacher in a posh place. I have a few adult children. Once they left the house, your wife got divorced so quickly she left skid marks, but that’s good for you, huh? Let me guess. Fucking college girls isn’t cool anymore, so you decided to fuck this town, get a nice little place in Bozeman, because that’s your favorite place to ski. And now you’re teaching Zoom classes from the living room of your creekside shack and lecturing on inequality and the concentration of wealth and how it’s decimating the middle class, while pumping your six-figure salary to fund your dream house with a loan from the college that’s 275 basis points below the loans your students have to take out to listen to this bullshit – and I guess if I had to guess it’s that you paid the asking price for it. Because it’s just Monopoly money for you, isn’t it. So you’re driving up real estate prices here, and you’re screwing up the middle classes in two states. Bravo, fucking hypocrite.

This scene largely explained my discomfort during my reunion Yellowstone this season. I watch this show for the soap opera, for the western landscape and as an object of sociological interest. Then, every once in a while, a curtain falls to the side, and I realize that I (or, more accurately, whoever the show imagines me to be) is actually its enemy.

Seems like a lot of people in the US (yes, upper middle class people like this ski instructor) have started to think more carefully about internal migration: leaving cities to get space due to COVID; leaving red states for political reasons; determine where best to resist the effects of climate change. Yellowstonehas always been the envy of anyone who hasn’t lived in Montana for generations, but this season seems like a step up – COVID-intensified antagonism for anyone who loves the look of the land, but hasn’t earned view .

In a scene from this second episode, John, Beth, and Jaime are riding in a limo, arguing over John’s plans to cancel the airport. Jaime, a lawyer who is the worldliest of all the Duttons (and therefore, of course, the meanest), doesn’t understand why John won’t sell the ranch or allow the airport to be built. it loses money every year. Beth volunteers to say she’s found at least one way to make some money: getting the Dutton campaign, through a shell company, to pay $1.5 million for the birthday party. inauguration of the governor. (I don’t know how it’s not veiled reference to strengthsanother dynasty with an internal Dutton dynamic.) “We’re going to jail,” Jaime moaned.

Well, if the assets are any guide, they are not! But the real reason they’re not, in Yellowstone and apart from that, it’s because of guys like the limo driver, who says, after John asks for confidentiality about what he’s just heard, “I won’t say a word, Governor. Except if I had your ranch, I’d do the same. Dutton agrees: “You make sure that’s my driver every time.”

Yellowstone is a spectacle for people who imagine themselves to be John Dutton: under siege, operating with black-and-white certainty, struggling against a world that demands compromise. Viewers who actually love this show – not “love it”, like I do, where I do this handjob move three times an episode and are looking for critical essays about it to read when I’m done – consider themselves real Montananese at heart, leading rearguard action against the movement of capital and people across state lines. What percentage of Yellowstoneit is many viewers, I wonder, would be welcome in John Dutton’s Montana? I’m not even sure Questions.

The FTX Saga: Lessons We Knew But Didn’t Learn

November 13, 2022

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Key points to remember

  • The collapse of Sam Bankman-Fried’s empire shocked the crypto industry and set it back years.
  • The industry overlooked too many red flags, which allowed Bankman-Fried to rise to prominence.
  • The FTX debacle could have been avoided if crypto had stayed true to its fundamentals: don’t trust, verify; and always keep your assets clean.

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After Do Kwon, Three Arrows Capital and Alex Mashinsky set the standard for outrageous misconduct in the crypto space this year, Sam Bankman-Fried’s dramatic downfall brought to mind one of the internet’s most popular memes. : “Hold my beer.”

This week it was revealed that SBF, while hes known in crypto circles, blew a $10 billion hole in the balance sheet of one of the once largest and most trusted centralized cryptocurrency exchanges, FTX. It will take months for the dust to settle and the extent of the damage to become clear.

The lessons that this industry will have to (re)learn to emerge from this crisis, however, will be the same ones it has always preached. Rule 1: not your keys, not your coins; and Rule 2: Don’t Trust, Verify.

Trusted third parties are security holes

Almost 14 years after Satoshi Nakamoto published the Bitcoin White Paperwhere they outlined the plan for “a purely peer-to-peer version of e-money that would allow online payments to be sent directly from one party to another without going through a financial institution,” the crypto looped the loop and most of its trading volume occurred on centralized exchanges, i.e. financial institutions.

Satoshi made his motivation for creating Bitcoin clear, saying he wanted to eliminate the reliance of the financial system on third parties. And even if whoever stood behind Satoshi’s alias was a genius, that idea wasn’t theirs. In 2001, polymath and godfather of smart contracts, Nick Szabo, published a blog post titled “Trusted third parties are security holes.In it, he pointed out the dangers of building systems that rely on trusted third parties and the critical need to build those that don’t.

Then Satoshi came along and created an alternative; Bitcoiners, especially “those pesky, toxic crypto devotees” love to hate, intuitively figured out the idea behind it, latched onto it, and prophesied it to the masses. “Not your keys, not your coins” has become a mantra for the space, aimed at emphasizing the need to self-custody crypto instead of relying on centralized intermediaries. Yet many have ignored this advice. Despite numerous warnings, including the Mount Gox and QuadrigaCX In 2014 and 2019, this year thousands of crypto enthusiasts, including some industry veterans, saw their fortunes wiped out because they used centralized crypto exchanges or lending platforms.

Not only did people choose not to “verify”, but they also blindly trusted completely opaque and inherently risky companies. Billions of dollars have been stuffed into black boxes and guarded by selfish egoists, while the industry has backed off and done nothing. Then we acted shocked when the risks showed up—as if Satoshi hadn’t laid them out clearly in the white paper.

The worst thing about the FTX crisis is that the red flags were clear from the start.

Red flags surrounding FTX

Sam Bankman-Fried made a name for himself in crypto after founding FTX in 2019. He quickly became a prominent industry figure and mainstream media darling without showing any evidence of work demonstrating his previous skills, becoming the world’s richest under 30 as FTX hit $32 billion. dollars in 2022. Bankman-Fried has become known for his geeky personality. and plans to give away his staggering wealth through effective altruism – the wealth he has accumulated rent-seeking and wholesale hopium to venture capitalists who resold it to crypto-tourists looking to make a quick buck by flipping the latest hot coins on the market.

The predatory practices of Alameda Search, the Bankman-Fried trading company founded in 2017, is no secret to the industry. The firm has mined the governance tokens of dozens of promising DeFi projects and then cast them into oblivion, in many cases hurting retail investors and the projects themselves beyond repair. Bankman-Fried also became a strong supporter of Solana, the Layer 1 network whose total value locked was widely inflated by two brothers posing as a team of DeFi developers. Solana has went down several times since it exploded in 2021 and its ecosystem has taken a heavy hit due to the collapse of FTX.

Bankman-Fried has spent this year sticking his face on FTX billboards, mingling with The politicians and regulators, and lobbying for the Digital Products Consumer Protection Act (ACCPD) bill that, if passed, would effectively kill decentralized finance. In other words, he fought his way to the top, then tried to pull the ladder under him to sabotage everyone.

Bankman-Fried oversaw FTX, while Alameda Research was led by Caroline Ellison, a 28-year-old woman with just 19 months’ experience as a junior trader at Jane Street. In 2021, she sparked controversy when she revealed on Twitter that she was using amphetamines. “Nothing like regular amphetamine use to make you realize how stupid a normal, non-drug human experience is,” she wrote. A year later, Ellison found herself at the epicenter of the FTX scandal after it emerged that Bankman-Fried had moved around $10 billion of FTX client money to help the company fight a insolvency crisis.

While plenty of other shenanigans were likely going on behind closed doors, some of which may surface and some that we may never find out, the red flags with Bankman-Fried and Ellison were there for all to see. . Yet very few did – and no one predicted the couple’s fraudulent antics. We fell in love with their spiel despite watching several similar episodes of the same soap this year.

Unfortunately, there are still many red flags in the industry.

We never learn

The events of the past week in crypto are nothing new. History is full of abuse of trust, money and power. This is why Satoshi invented Bitcoin – to create a solid monetary system that eliminates the need for trust and cannot be abused. But it seems we can’t help ourselves. The end of Jeremy Irons monologue in the movie margin call sums it up perfectly:

“It’s just money; it’s invented. Pieces of paper with pictures on them, so we don’t have to kill each other just to get something to eat. It’s not false. And it is certainly no different today than it has ever been. 1637, 1797, 1819, 37, 57, 84, 1901, 07, 29, 1937, 1974, 1987 – Jesus, that didn’t screw me up – 92, 97, 2,000, and whatever you call it. It’s just the same thing over and over again; we can’t help ourselves.

Change the years of financial crises with crypto explosions, i.e. Mt. Gox, QuadrigaCX, Voyager Digital, Celsius, FTX, BlockFi, and the parallels are clear. It’s just the same cycle repeating itself. It seems that we never learn.

In a strange cosmic irony, the crypto industry had come full circle, picking out and replicating the worst aspects of the traditional financial world it initially sought to subvert. Reliance on trusted third parties, shady off-chain transactions, over-leveraged and unsecured borrowing for relentless risk-taking – we’ve done it all, and done it shamelessly, in typical cypherpunk fashion. Only this time, the government and the central bank’s endless balance sheet won’t be there to cushion the blow, privatize the gains and socialize the losses, as has been the real-world tradition for some time.

And for the nocoiners armed and ready to shout, we told you so” – relax. It didn’t happen because crypto is a scam, or because crypto is unregulated. FTX was a regulated company under the comprehensive laws and regulations of the same offshore jurisdictions as your politicians who promote these nonsensical mantras to hide their wealth. In other words, a regulated company has done something illegal without being caught by regulators. What a shock, right?

We screwed up royally this time, not because our goals were dastardly, but because we failed to learn the lessons we already knew: don’t ignore the red flags; don’t trust, verify; and always keep your assets clean.

Disclosure: At the time of writing this article, the author of this feature held ETH and several other cryptocurrencies.

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Nevada Democratic Rep. Susie Lee wins re-election to U.S. House

November 12, 2022

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Democratic Rep. Susie Lee won re-election in Nevada’s 3rd congressional district, beating her opponent, Republican April Becker, to one of the House’s most competitive seats this cycle.

Lee’s seat was considered vulnerable after Nevada’s Democratic-led state legislature redrew the district last year, adding more Republican voters.

Lee raised a record amount of money, over $5 million, and far surpassed Becker. The race has also attracted funding from outside groups and has become one of Very expensive Home races in the country.

Lee spent most of the campaign attacking Becker’s stance on abortion, and Becker retaliated by aligning Lee with President Biden and his record on the economy. She also sued Lee when a Mother Jones The report says Lee could benefit financially from the legislation she drafted.

In the final stretch of the campaign, Democrats sent former President Barack Obama to Las Vegas to rally voters, where he criticized Republicans for giving tax breaks to the wealthy.

Lee was first elected to Congress in 2018 to replace Representative Jacky Rosen, who won her Senate race that year.

Copyright 2022 NPR. To learn more, visit https://www.npr.org.

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Stock Market Breaking News: Crypto Crisis Hits FTX, Stocks Cautious After Mega Rally, Home Depot Veterans Day Surprise | November 11, 2022

November 11, 2022

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US stock futures sought to continue the rally in equities that was sparked on Thursday following a better-than-expected inflation report.

The main futures indices suggest a rise of 0.7% or a gain of more than 150 points on the Dow Jones, the day after the soaring 1,200 points of this index.

This is the biggest one-day gain for the Dow in more than two years.

Inflation slowed more than expected in October, but consumer prices remained near a multi-decade high, continuing to weigh on millions of households and small businesses in the United States.

The Labor Department said Thursday that the consumer price index, a broad measure of the price of everyday goods, including gas, groceries and rents, rose 0.4% in October compared to the previous month. Prices climbed 7.7% on an annual basis.

Those figures were both lower than the headline figure of 8% and the monthly increase of 0.5% predicted by economists at Refinitiv.

The yield on the 10-year Treasury, which helps set rates for mortgages and other loans, was 3.81% on Friday.

Oil prices rose on Friday after softer-than-expected U.S. inflation data bolstered hopes that the Federal Reserve will slow rate hikes.

Prices were still expected to show a decline for the week after COVID-19 cases jumped in major oil importer China, raising fears of lower fuel demand.

U.S. West Texas Intermediate (WTI) crude futures were trading around $87.00 a barrel.

Brent futures were trading around $94.00 a barrel.

On Wall Street, the S&P 500 gained 3,956.37, propelled by big gains for tech heavyweights. Amazon climbed 12.2%, Apple 8.9% and Microsoft 8.2%.

The Dow Jones Industrial Average gained 3.7%, or more than 1,200 points, to 33,715.37.

The Nasdaq composite, dominated by tech stocks, jumped 7.4% to 11,114.15 for its best day since March 2020,

Asian stock markets jumped on Friday.

The Nikkei 225 in Tokyo gained 2.9%, Hong Kong’s Hang Seng index climbed 7.7% and China’s composite index in Shanghai rose 1.7% after the ruling Communist Party promised to modify quarantine and other anti-virus tactics to reduce the cost of the harsh “Zero-COVID Strategy,” according to The Associated Press.

Goeasy Reports Record Third Quarter Adjusted Net Profit; Loan originations up year-over-year

November 10, 2022

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Newswires MT 2022

All the news from GOEASY LTD.

Analyst Recommendations for GOEASY LTD.

2022 sales 1,022 million
764 million
764 million
Net income 2022 163 million
122 million
122 million
Net debt 2022

PER 2022 ratio 13.5x
2022 return 2.76%
Capitalization 2,033 million
1,520 million
1,520 million
capi. / Sales 2022 1.99x
capi. / Sales 2023 1.68x
# of employees 2,300
Floating 75.8%


Duration :

Period :




goeasy ltd.  Technical Analysis Chart |  MarketScreener

Trends Technical Analysis GOEASY LTD.

Short term Middle term Long term
Tendencies Bullish Neutral Neutral




Evolution of the income statement

Sale

To buy

Medium consensus TO BUY
Number of analysts 9
Last closing price $128.01
Average target price $199.00
Average Spread / Target 55.5%


These schools can help you break into the outdoor industry

November 9, 2022

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Thinking of entering the booming outdoor recreation industry? If you’re a student (or working on a career change), there’s no better time to get started. A growing number of universities across the United States are now offering programs for future workers in the adventure industry, with the goal of better equipping the gear of tomorrow. manufacturers, retailers and business owners to succeed. Last school to join the list: the University of Denver.

DU’s new Leadership in Outdoor Recreation Industry program offers two postgraduate certificates, one in Outdoor Recreation Industry Business (ORIB) and the other in Outdoor Recreation Industry Leadership (ORIL). The ORIB certificate focuses on core business skills such as accounting, finance, and marketing, and is aimed at recent graduates with no or limited business experience. The more advanced ORIL is designed for middle managers who already have some business acumen (outdoors or elsewhere). Courses for ORIL involve more advanced topics, such as financial models, supply chain challenges, human resources, and growth management.

Both programs start in the spring, and virtual attendance is an option for those who don’t live in the Mile High City.

“We are creating specialized, easy-to-access programs that will prepare students for outdoor industry jobs that are available now and future careers that will change the field,” said UD Chancellor Jeremy Haefner.

The new program is funded in part by a $3 million grant from the VF Foundation, the charitable arm of Denver-based VF Corporation, parent company of The North Face and Smartwool.

“Denver is an important center for the outdoor industry, making DU the ideal location for such a program,” said Steve Rendle, CEO of VF Corporation and Chairman of the Board of the VF Foundation. “Through the Foundation’s targeted support of scholarships for underrepresented people, combined with DU’s extensive offering of courses relevant to business and industry, we hope to inspire the next generation of diverse leadership in the outdoor industry.”

With the outdoor economy driving $374 billion in annual consumer spending in the United States, it’s no surprise that academic offerings like this are popping up at colleges and universities nationwide. Below is a list of other notable programs aimed at getting people outdoors.

Arkansas

Want to start your own outdoor business? The University of ArkansasThe Greenhouse Outdoor Recreation Program (GORP) helps would-be entrepreneurs understand the nuances of starting a business through workshops, mentorships, classes, and training at the university’s new Greenhouse Business Incubator in Bentonville, a destination with a growing outdoor reputation. Content is designed for the unique challenges of operating outdoor businesses and carrying out equipment concepts, and most consulting and networking services are free. Already have an outdoor business? GORP’s 12-week cohort program also helps owners expand their concepts through workshops, networking, and fundraising throughout the year.

Arizona

Prescott College has two degree programs for those who want to make a living teaching, but want to do it outside. The Adventure Education program offers bachelor’s and master’s degrees in outdoor education with courses in program administration and leadership, wilderness therapy, and more.

Colorado

Do you dream of becoming a mountaineering guide or ski area operator? The Adventure Education major at Fort Lewis College helps undergraduate students become wilderness therapists, guides, experiential educators, and public land workers. After completing 33 credit hours in math, history, and science, students complete the 57-hour degree with courses like Wilderness Expedition, Foundations of Adventure Education, Wilderness First Responder, and Teaching Methods for Adventure Education. Electives include Rock Climbing Fundamentals, Swiftwater Rescue, and Advanced Backcountry Winter Travel. For students focusing on the ski industry, the Ski Resort Operations Certificate teaches the ins and outs of mountain and business ski resort management.

Earn your MBA with an emphasis on the outdoors at Western Colorado University in Gunison. The Outdoor Industry Master of Business Administration is a two-year program that includes an MBA core as well as specialized tracks for the product or service side of the outdoor industry. The product concentration includes specialized courses in sustainable equipment development and materials sourcing; supply chain and logistics; and sustainable finance. The service concentration offers specialized courses in resort and hospitality management, natural resource regulation, and sales. (Plus, you can explore the Black Canyon of the Gunnison when you’re not studying.)

Not to be outdone, the University of Colorado BoulderThe outdoor recreation economics master’s program includes a master’s degree in outdoor recreation economics, with additional graduate-level certificates in subjects such as natural resource policy and economic development. The program is entirely online, so you can follow it from anywhere, although Boulder offers impressive outdoor access.

Massachusetts

For those interested in leading outdoor adventure programs, such as those offered by the National Outdoor Leadership School (NOLS) and Outward Bound, Greenfield Community CollegeThe adventure education program of could provide the perfect training. The program focuses on the development of critical, philosophical and technical skills in adventure education. Backcountry travel, rock climbing, paddle sports, and Nordic skiing are all areas of focus, and the program’s certification skills meet national adventure industry standards.

Michigan

Become a pro in the snow sports industry at Gogebic Community CollegeThe Ski Area Management program, where classroom work and hands-on experience in the school’s Mount Zion ski area prepares students for technical and administrative positions. Local training is followed by internships at ski resorts across the country. Courses include ski resort layout, ski instruction fundamentals, and ski resort cost and operation analysis.

If you are interested in working in public land management, whether at the municipal, state, or federal level, the Outdoor Recreation Leadership and Management program at University of Northern Michigan in Marquette is worth the detour. The bachelor’s degree program teaches students vocational skills in a variety of outdoor recreation specialties. The program also ensures that students meet National Recreation and Park Association (NRPA) entry requirements.

Montana

Want to become a professional snow goat? Montana State UniversityThe snow science program in the school’s renowned Earth Science department teaches all things snow safety to undergraduate students seeking careers in the ski industry, research and rescue, guiding and other fields. The intensive courses involve several disciplines, including physics, engineering, hydrology and statistics, calculus, chemistry and geomorphology. For graduate students, the Snow and Avalanche Lab combines study and research to help learners better understand and predict snow events.

North Carolina

Wilderness leadership and experiential education to Brevard College is a Bachelor of Arts degree focusing on marketable skills in professional guiding, teaching rock climbing, and other adventure careers. From satisfying customers to balancing corporate budgets, courses prepare students for the business and adventurous aspects of making a living in the outdoor industry.

The Masters Program in Experiential and Outdoor Education at Western Carolina University in Cullowhee, NC is designed for students who want to work as teachers at expeditionary learning schools, charter schools, community colleges, camps, and beyond. The two-year program includes both online classes during the week and in-person classes on weekends, making it easier for working students to graduate.

Oregon

In Corvallis, Oregon State UniversityThe Center for Outdoor Recreation Economics offers a range of certificate and degree programs focusing on all aspects of the industry, from learning how to operate a ski lift to designing environmentally friendly products. the environment. For those curious about getting into the outdoor space, Foundations of Outdoor Recreation Economics is a unique $400 course, open to anyone, that provides insight into the economic, environmental, and societal impacts of outdoor recreation. outdoors. Check out the school’s free outdoor industry module for an overview of what to expect.

For those already working in the field of outdoor recreation, the MSc in Sports Product Management program at the University of Oregon Lundquist College of Commerce teaches students how to bring material to market, from concept to promotion. Both on-site and online programs are available to accommodate full-time students and workers.

Utah

For many, the ultimate dream of an outdoor career is to bring product ideas to life and get paid for it. The outdoor product design and development program at Utah State University in Logan is a Bachelor of Science degree that prepares students to enter the world of gear design and manufacturing. Students can choose to specialize in product line design, development, or management after two years of core coursework.

Washington

Want to work with the public outdoors? Bellingham’s Western Washington University offers a Recreation Management and Leadership program – a Bachelor of Arts degree applicable to careers in sustainable tourism and community recreation. Guiding, camp counseling, wilderness therapy, and park management are just a few of the paths students pursue after graduation.

West Virginia

West Virginia University Institute of Technology Beckley’s Undergraduate Adventure Recreation Management program prepares students for careers in outdoor businesses. Guide and instructor certifications in at least one discipline such as rock climbing or paddle sports are included, and courses focus on the fundamentals of running a business. Internships and a final project allow students to gain extensive real-world experience before graduating.

11 things to do this weekend in Cleveland: November 10-13

November 9, 2022

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Cheese and Wine Festival at Lago East Bank
This illustrious event features more than 40 wines and 50 cheeses from around the world, all for your enjoyment. Don’t worry, samples are unlimited while supplies last – so try some more Champignon Cambozola or Les Château Brie before the night is out. $50 to $65, Nov. 11, 6 p.m. to 10 p.m., 1091 W. 10th St., Cleveland, tastecle.com

Cleveland Cavaliers vs. Minnesota Timberwolves at Rocket Mortgage FieldHouse
Head to the FieldHouse this Sunday for a game against the Timberwolves. The Cavs look hot so far – let’s see if they keep the momentum going as we go deeper into the season. Tickets start at $28, Nov. 13, 6 p.m., 1 Center Court, Cleveland, rocketmortgagefieldhouse.com

Cleveland Metroparks Veterans Day 5K at Edgewater Park
Walk or run in this inaugural race celebrating the nation’s veterans as part of the Cleveland Metroparks race series. Beginning and ending at Edgewater, the hike promises beautiful fall scenery along the lake. $35, Nov. 12, 8:30 a.m., Upper Edgewater Park, Cleveland, runsignup.com

Veterans Parade at Cleveland City Hall
Before the parade, attend the third annual Veterans Recognition Ceremony. Both events are great opportunities to thank and honor local and national heroes who have sacrificed so much for their communities back home.
Free, November 11, 12:45 p.m., 601 Lakeside Avenue, Cleveland, clevelandohio.gov

Dirty Pop Party at the Beachland Ballroom
As part of New York artist J-Lines’ current tour, this pop-lover’s party reigns over the talents of local rising stars including Lindsay Mesenburg, Joey James, Solon and Don Stroganoff. There’s no better opportunity to absorb the brilliant work coming out of the city’s thriving pop scene. $12-$15, November 12, 7:30 p.m., 15711 Waterloo Road, Cleveland, beachlandballroom.com

Discourage without lessons
Without fail, there’s an opportunity to mosh, stage dive, scream, and damage your hearing at No Class every week. This weekend, throw yourself into the chaotic riff of Discourage, Fed Ash, SNAFU and Mutilation Barbeque. Head to the bar between sets for a brew and a break. $15, Nov. 11, 8 p.m., 11213 Detroit Ave., Cleveland, noclasscle.com

BIG Comedy Night Imposters! at the theater of imposters
Find a seat at Forest City Brewery for a fun variety show, courtesy of Imposters Theatre. Acts include several stand-up sets, comedy sketches and, of course, Improv Game Night with comedy bits reminiscent of
Whose line is it anyway. $15, November 11, 7-8:30 p.m., 2135 Columbus Road, Cleveland, imposterstheatre.com

LGBTQ+ Career & Resource Fair at Plexus LGBT & Allied Chamber of Commerce
Not only does this fair offer free skills-building sessions in resume design, interviewing, and workplace pride, but the event has over 20 local employers in attendance looking for dedicated and diverse hires. Free, Nov. 12, 9 a.m. to 3 p.m., 6705 Detroit Ave., Suite. 114, Cleveland, business.thinkplexus.org

Montana Love vs. Stevie Spark at Rocket Mortgage FieldHouse
Montana Love of Cleveland returns home for a headlining match, defending her IBF North American Super-Lightweight title against Australian fighter Stevie Spark. While Love has fought here a few times before, this will be his first as a main attraction. $29-$185, Nov. 12, 5 p.m., 1 Center Court, Cleveland, rocketmortgagefieldhouse.com

My Recovery Day Jam at the Rock & Roll Hall of Fame
Join the Rock Hall for a day of celebrating hope through the messages and music of sober artists. Marc Lee Shannon headlines the event, sharing his song “Steady On” and his personal journey to recovery. My Recovery Day Jam is dedicated to the late Michael Stanley. $250, November 12, 6-11 p.m., 1100 East Ninth St., Cleveland, eventbrite.com

Walkabout Tremont at Professor Avenue
The community gathers during long hours of shopping and gallery openings, including the Loop Cafe and Record Store, Doubting Thomas Gallery, and Tremont Public Works Cafe. The event takes place every Friday and the monthly themes range from “Winter Warmer” in January to “The Art of the Fish Fry” in March. Free, every Friday, various times, various locations, experiencetremont.com

Get a head start on the weekend by signing up for our free weekly newsletter “In the CLE” – your guide to having fun across The Land. Arriving in your inbox every Wednesday, this weekend to-do list has you covered on everything from concerts to museum exhibits — and more. Click here to subscribe.

Inflation is the main issue for this week’s midterms

November 7, 2022

Montana Economy

Comments Off on Inflation is the main issue for this week’s midterms


Like a 1970s movie monster, inflation is back and drawing crowds to a polling station near you.

Rising prices are the main concern of voters in this year’s midterm elections, overtaking abortion, crime and other burning issues.

More than one in three voters cited inflation as their most pressing priority, according to the latest NPR/PBS news time/Marist survey. “Preserving democracy” was far behind. Republicans were considered better than Democrats at largely fighting inflation.

The election comes as consumer prices are climbing at nearly the fastest pace in four decades. Annual inflation in September was 8.2%. That’s only slightly down from the 9% rate in June, which was the highest since 1981.

The October consumer price index should be released on Thursday.

Soaring prices have fueled anxiety among Americans, who are paying more for gas, groceries and other necessities.

Inflation was not on the radar two years ago

Inflation was of little concern when President Biden first took office. Although the pandemic triggered isolated price hikes for things like lumber, the overall cost of living was climbing at less than 2% per year.

The incoming administration was more concerned about jobs, fearing a repeat of the slow recovery that followed the global financial crisis. The unemployment rate in January last year was 6.4%, down from nearly 15% in the early months of the pandemic. But with rising COVID-19 cases, the economy had lost 115,000 jobs the month before Biden was sworn in.

Congressional Democrats quickly passed a $1.9 trillion economic relief bill, which included direct payments of $1,400 to most adults, plus expanded unemployment benefits and a new tax credit for children.

As an economic stimulus, it was a success. Employers have added more than 10 million jobs since Biden took office. But Republicans blame the aggressive relief bill — which passed without GOP support — for stoking runaway prices.

“Inflation is caused by reckless spending by Democrats,” Sen. Rick Scott, R-Fla., told NPR. morning edition Last week.

Inflation is a global problem

Other factors undoubtedly contributed to the high inflation, including the lingering effects of the pandemic and Russia’s invasion of Ukraine. Inflation was even higher in the Eurozone and the UK than in the US, mainly due to soaring energy costs linked to the war in Ukraine.

But some prominent Democrats acknowledge that last year’s relief package played a role in overheating the economy and driving up prices.

“Now the tub is overflowing,” said former Treasury Secretary Larry Summers, who warned fellow Democrats against such a situation. results. “And it’s much easier to stop a tub from overflowing than to catch the water.”

The Federal Reserve reacts

For much of the past year, the Federal Reserve believed that prices would cool on their own, once the supply chain issues caused by the pandemic unraveled. But inflation turned out to be higher and more persistent than the central bank had expected. This spring, the Fed began raising interest rates in an effort to dampen demand and control prices.

Since March, the Fed has raised its benchmark rate six times, pushing up borrowing costs for anyone trying to buy a house or car or carrying a balance on a credit card. Fed Chairman Jerome Powell warned last week that rates will likely have to rise even more than expected next year, although increases may come in smaller increments.

The Fed’s crackdown, along with similar moves by other central banks, has heightened the risk of a global economic slowdown.

A GOP advantage

Nearly half of voters polled in the NPR poll say Republicans would do a better job of controlling inflation, compared to just 27% who think Democrats would be more effective. While Republicans capitalized on voter frustration over rising prices, they offered few concrete prescriptions for bringing down inflation.

Asked about the GOP’s strategy on morning editionSenator Scott suggested spending cuts and an increase in national energy production.

“Step one, we need to do in government what families do. You live within your means,” said Scott, who chairs the Republican Senate campaign committee. “On top of that, we need to figure out how to produce energy in this country safely.”

Gasoline prices are a particularly potent symbol of inflation, and President Biden’s approval rating seems to drop every time pump prices rise.

The national average gasoline price hit a record high of $5.01 a gallon in June, when sanctions against Russia sent global crude oil prices skyrocketing. Gas prices have since fallen to around $3.80, according to AAA.

Copyright 2022 NPR. To learn more, visit https://www.npr.org.

PACIFICORP /OR/ Management’s Discussion and Analysis of Financial Condition and Results of Operations (Form 10-Q)

November 7, 2022

Montana Mortgages

Comments Off on PACIFICORP /OR/ Management’s Discussion and Analysis of Financial Condition and Results of Operations (Form 10-Q)


The following is management's discussion and analysis of certain significant
factors that have affected the consolidated financial condition and results of
operations of the Company during the periods included herein. Explanations
include management's best estimate of the impact of weather, customer growth,
usage trends and other factors. This discussion should be read in conjunction
with the Company's historical unaudited Consolidated Financial Statements and
Notes to Consolidated Financial Statements in Part I, Item 1 of this Form 10-Q.
The Company's actual results in the future could differ significantly from the
historical results.

BHE is a holding company that owns a highly diversified portfolio of locally
managed businesses principally engaged in the energy industry and is a
consolidated subsidiary of Berkshire Hathaway. As of November 3, 2022, Berkshire
Hathaway and family members and related or affiliated entities of the late Mr.
Walter Scott, Jr., a former member of BHE's Board of Directors, beneficially
owned 92% and 8%, respectively, of BHE's common stock.

Berkshire Hathaway Energy's operations are organized as eight business segments:
PacifiCorp, MidAmerican Funding (which primarily consists of MidAmerican
Energy), NV Energy (which primarily consists of Nevada Power and Sierra
Pacific), Northern Powergrid (which primarily consists of Northern Powergrid
(Northeast) plc and Northern Powergrid (Yorkshire) plc), BHE Pipeline Group
(which primarily consists of BHE GT&S, Northern Natural Gas and Kern River), BHE
Transmission (which consists of BHE Canada (which primarily consists of
AltaLink) and BHE U.S. Transmission), BHE Renewables and HomeServices. BHE,
through these locally managed and operated businesses, owns four utility
companies in the U.S. serving customers in 11 states, two electricity
distribution companies in Great Britain, five interstate natural gas pipeline
companies, one of which owns a liquefied natural gas ("LNG") export, import and
storage facility, in the U.S., an electric transmission business in Canada,
interests in electric transmission businesses in the U.S., a renewable energy
business primarily investing in wind, solar, geothermal and hydroelectric
projects, the largest residential real estate brokerage firm in the U.S. and one
of the largest residential real estate brokerage franchise networks in the U.S.
The reportable segment financial information includes all necessary adjustments
and eliminations needed to conform to the Company's significant accounting
policies. The differences between the reportable segment amounts and the
consolidated amounts, described as BHE and Other, relate principally to other
entities, including MidAmerican Energy Services, LLC, corporate functions and
intersegment eliminations.

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Operating results for the third quarter and first nine months of 2022 and 2021

Overview

Operating income and (loss) earnings on common shares for the Company’s reportable segments are summarized as follows (in millions):

                                                      Third Quarter                                                      First Nine Months
                                 2022             2021                    Change                     2022              2021                      Change
Operating revenue:
PacifiCorp                    $ 1,635          $ 1,491          $    144              10  %       $  4,246          $  4,031          $    215                5  %
MidAmerican Funding             1,148              966               182              19             3,050             2,726               324               12
NV Energy                       1,334            1,085               249              23             2,926             2,443               483               20
Northern Powergrid                359              277                82              30             1,019               857               162               19
BHE Pipeline Group                964              785               179              23             2,855             2,584               271                  10
BHE Transmission                  177              185                (8)             (4)              543               547                (4)              (1)
BHE Renewables                    302              316               (14)             (4)              763               773               (10)              (1)
HomeServices                    1,405            1,743              (338)            (19)            4,284             4,738              (454)             (10)
BHE and Other                     176              120                56              47               456               414                42               10

Total operating revenue $7,500 $6,968 $532

            8  %       $ 20,142          $ 19,113          $  1,029                5  %

(Loss) earnings on common
shares:
PacifiCorp                    $   409          $   333          $     76              23  %       $    622          $    728          $   (106)             (15) %
MidAmerican Funding               300              373               (73)            (20)              745               728                17                2
NV Energy                         270              282               (12)             (4)              392               416               (24)              (6)
Northern Powergrid                100               83                17              20               282               162               120               74
BHE Pipeline Group                234              144                90              63               755               627               128               20
BHE Transmission                   59               65                (6)             (9)              183               184                (1)              (1)
BHE Renewables(1)                 173              163                10                  6            526               360               166               46
HomeServices                       29              102               (73)            (72)              134               321              (187)             (58)
BHE and Other                  (2,424)             351            (2,775)                 *         (1,750)              580            (2,330)                  *
Total (loss) earnings on
common shares                 $  (850)         $ 1,896          $ (2,746)                 *       $  1,889          $  4,106          $ (2,217)             (54) %


(1) Includes tax attributes of ignored entities that are not liable to pay income taxes and whose profits are taxable directly to BHE.

* Not significant

Earnings on common shares decreased $2,746 million for the third quarter of 2022
compared to 2021. The third quarter of 2022 included a pre-tax loss of $3,259
million ($2,574 million after-tax) compared to a pre-tax gain in the third
quarter of 2021 of $296 million ($253 million after-tax) on the Company's
investment in BYD Company Limited. Excluding the impact of this item, adjusted
earnings on common shares for the third quarter of 2022 was $1,724 million, an
increase of $81 million, or 5%, compared to adjusted earnings on common shares
in the third quarter of 2021 of $1,643 million.

Earnings on common shares decreased $2,217 million for the first nine months of
2022 compared to 2021. The first nine months of 2022 included a pre-tax loss of
$1,948 million ($1,539 million after-tax) compared to a pre-tax gain in the
first nine months of 2021 of $1,126 million ($855 million after-tax) on the
Company's investment in BYD Company Limited. Excluding the impact of this item,
adjusted earnings on common shares for the first nine months of 2022 was $3,428
million, an increase of $177 million, or 5%, compared to adjusted earnings on
common shares in the first nine months of 2021 of $3,251 million.

                                       30
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The decrease in earnings on common shares for the third quarter and for the first nine months of 2022 compared to 2021 is mainly explained by the following elements:

•The Utilities' earnings decreased $9 million for the third quarter and $113
million for the first nine months of 2022 compared to 2021. The decrease for the
first nine months reflected higher operations and maintenance expense, higher
depreciation and amortization expense and unfavorable investment earnings,
partially offset by higher electric utility margin and a favorable income tax
benefit from higher PTCs recognized. Electric retail customer volumes increased
1.7% for the first nine months of 2022 compared to 2021, primarily due to higher
customer usage and an increase in the average number of customers;

•Northern Powergrid's earnings increased $17 million for the third quarter and
$120 million for the first nine months of 2022 compared to 2021. The increase
for the first nine months was primarily due to a deferred income tax charge of
$109 million related to a June 2021 enacted increase in the United Kingdom
corporate income tax rate from 19% to 25% effective April 1, 2023;

•BHE Pipeline Group's earnings increased $90 million for the third quarter and
$128 million for the first nine months of 2022 compared to 2021, largely due to
higher earnings at BHE GT&S from the impacts of the EGTS general rate case,
favorable income tax adjustments and lower operations and maintenance expense.
In addition, earnings for the first nine months decreased from the effects of
higher margins on natural gas sales and higher transportation revenue in the
first quarter of 2021 at Northern Natural Gas from the February 2021 polar
vortex weather event;

•BHE Renewables' earnings increased $10 million for the third quarter and $166
million for the first nine months of 2022 compared to 2021. The increase for the
first nine months was primarily due to higher operating revenue from owned
renewable energy projects and higher earnings from tax equity investments,
mainly due to the unfavorable impacts in the first quarter of 2021 from the
February 2021 polar vortex weather event;

•HomeServices' earnings decreased $73 million for the third quarter and $187
million for the first nine months of 2022 compared to 2021, reflecting lower
earnings from mortgage services mainly from a decrease in funded volumes and
lower earnings from brokerage and settlement services largely attributable to a
decrease in closed units at existing companies; and

•BHE and Other's earnings decreased $2,775 million for the third quarter and
$2,330 million for the first nine months of 2022 compared to 2021, mainly due to
$2,827 million and $2,394 million, respectively, of unfavorable comparative
changes in the Company's investment in BYD Company Limited, partially offset by
lower federal income tax credits recognized on a consolidated basis in the third
quarter and lower dividends on BHE's 4.00% Perpetual Preferred Stock issued to
certain subsidiaries of Berkshire Hathaway.

Reportable segment results

PacifiCorp

Operating revenue increased $144 million for the third quarter of 2022 compared
to 2021, primarily due to higher retail revenues of $117 million and higher
wholesale and other revenue of $27 million, largely from higher average
wholesale prices. Retail revenue increased primarily due to price impacts of $61
million from higher average retail rates largely due to tariff changes and $57
million from higher retail volumes. Retail customer volumes increased 3.5%,
primarily due to the favorable impact of weather and an increase in the average
number of customers, partially offset by lower customer usage.

Earnings increased $76 million for the third quarter of 2022 compared to 2021,
primarily due to higher utility margin of $67 million and a favorable income tax
benefit, partially offset by higher operations and maintenance expense of $22
million and higher depreciation and amortization expense of $5 million, mainly
from additional assets placed in-service. Utility margin increased primarily due
to higher retail rates and volumes, favorable deferred net power costs and
higher average wholesale prices, partially offset by higher purchased power and
thermal generation costs. The favorable income tax benefit was largely due to
higher PTCs recognized of $21 million and the effects of ratemaking.

Operating revenue increased $215 million for the first nine months of 2022
compared to 2021, primarily due to higher retail revenues of $143 million and
higher wholesale and other revenue of $72 million, largely from higher average
wholesale prices. Retail revenue increased primarily due to price impacts of
$104 million from higher average retail rates largely due to tariff changes and
$40 million from higher retail volumes. Retail customer volumes increased 0.8%,
primarily due to an increase in the average number of customers and the
favorable impact of weather, partially offset by lower customer usage.

                                       31
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Earnings decreased $106 million for the first nine months of 2022 compared to
2021, primarily due to higher operations and maintenance expense of $160
million, an unfavorable income tax benefit, higher depreciation and amortization
expense of $25 million, mainly from additional assets placed in-service, and
unfavorable changes in the cash surrender value of corporate-owned life
insurance policies, partially offset by higher utility margin of $88 million.
Operations and maintenance expense increased mainly due to an increase in loss
accruals associated with the September 2020 wildfires, net of estimated
insurance recoveries, and higher general and plant maintenance costs, Utility
margin increased primarily due to higher retail rates and volumes, higher
average wholesale prices and favorable deferred net power costs, partially
offset by higher purchased power and thermal generation costs. The unfavorable
income tax benefit was largely due to the effects of ratemaking and lower PTCs
recognized of $6 million.

MidAmerican Funding

Operating revenue increased $182 million for the third quarter of 2022 compared
to 2021, primarily due to higher electric operating revenue of $155 million and
higher natural gas operating revenue of $29 million. Electric operating revenue
increased due to higher wholesale and other revenue of $87 million and higher
retail revenue of $68 million. Electric wholesale and other revenue increased
mainly due to higher average wholesale per-unit prices of $96 million. Electric
retail revenue increased primarily due to higher recoveries through adjustment
clauses of $47 million (fully offset in expense, primarily cost of sales) and
higher customer volumes of $17 million. Electric retail customer volumes
increased 3.1%, primarily due to higher customer usage. Natural gas operating
revenue increased due to higher purchased gas adjustment recoveries of
$34 million (fully offset in cost of sales), primarily from a higher average
per-unit cost of natural gas sold, partially offset by the impacts of certain
regulatory recovery mechanisms of $6 million.

Earnings decreased $73 million for the third quarter of 2022 compared to 2021,
primarily due to higher depreciation and amortization expense of $120 million,
an unfavorable income tax benefit, higher operations and maintenance expense of
$10 million and unfavorable changes in the cash surrender value of
corporate-owned life insurance policies, partially offset by higher electric
utility margin of $83 million. Depreciation and amortization expense increased
primarily from the impacts of certain regulatory mechanisms and additional
assets placed in-service. Electric utility margin increased primarily due to the
higher wholesale and retail revenues, partially offset by higher purchased power
costs. The unfavorable income tax benefit was largely due to the effects of
ratemaking, partially offset by higher PTCs recognized of $14 million from
higher wind- and solar-powered generation.

Operating revenue increased $324 million for the first nine months of 2022
compared to 2021, primarily due to higher electric operating revenue of
$357 million, partially offset by lower natural gas operating revenue of
$22 million and lower nonregulated operating revenue of $10 million. Electric
operating revenue increased due to higher wholesale and other revenue of
$192 million and higher retail revenue of $165 million. Electric wholesale and
other revenue increased mainly due to higher average wholesale per-unit prices
of $174 million and higher wholesale volumes of $23 million. Electric retail
revenue increased primarily due to higher recoveries through adjustment clauses
of $110 million (fully offset in expense, primarily cost of sales) and higher
customer volumes of $45 million. Electric retail customer volumes increased
4.0%, primarily due to higher customer usage. Natural gas operating revenue
decreased due to lower purchased gas adjustment recoveries of $37 million (fully
offset in cost of sales), primarily from a lower average per-unit cost of
natural gas sold, partially offset by the impacts of tax reform of $6 million,
the favorable impact of weather of $5 million and higher customer usage of $4
million.

Earnings increased $17 million for the first nine months of 2022 compared to
2021, primarily due to higher electric utility margin of $240 million, a
favorable income tax benefit and higher natural gas utility margin of
$15 million, partially offset by higher depreciation and amortization expense of
$231 million, unfavorable changes in the cash surrender value of corporate-owned
life insurance policies, higher operations and maintenance expense of $25
million, higher interest expense of $12 million and lower nonregulated utility
margin of $10 million. Electric utility margin increased primarily due to the
higher wholesale and retail revenues, partially offset by higher purchased power
costs. The favorable income tax benefit was mainly due to higher PTCs recognized
of $106 million from higher wind- and solar-powered generation, partially offset
by the effects of ratemaking. Depreciation and amortization expense increased
primarily from the impacts of certain regulatory mechanisms and additional
assets placed in-service.

NV Energy

Operating revenue increased $249 million for the third quarter of 2022 compared
to 2021, primarily due to higher electric operating revenue of $244 million from
higher fully-bundled energy rates (fully offset in cost of sales) of $243
million. Electric retail customer volumes increased 0.3%.
                                       32
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Earnings decreased $12 million for the third quarter of 2022 compared to 2021,
primarily due to higher operations and maintenance expense of $11 million,
higher depreciation and amortization expense of $6 million, mainly from
additional plant placed in-service, and lower cash surrender value of
corporate-owned life insurance policies, partially offset by higher interest and
dividend income of $10 million from carrying charges on regulatory balances.
Operations and maintenance expense increased mainly due to higher plant
operations and maintenance expenses and an unfavorable change in earnings
sharing at the Nevada Utilities.

Operating revenue increased $483 million for the first nine months of 2022
compared to 2021, primarily due to higher electric operating revenue of $457
million, from higher fully-bundled energy rates (fully offset in cost of sales)
of $452 million, and higher natural gas operating revenue of $26 million from a
higher average per-unit cost of natural gas sold (fully offset in cost of
sales). Electric retail customer volumes increased 1.3%, primarily due to an
increase in the average number of customers, partially offset by the unfavorable
impact of weather.

Earnings decreased $24 million for the first nine months of 2022 compared to
2021, primarily due to higher operations and maintenance expense of $19 million,
unfavorable changes in the cash surrender value of corporate-owned life
insurance policies and higher depreciation and amortization expense of $12
million, mainly from additional plant placed in-service, partially offset by
higher interest and dividend income of $24 million from carrying charges on
regulatory balances. Operations and maintenance expense increased mainly due to
higher plant operations and maintenance expenses and an unfavorable change in
earnings sharing at the Nevada Utilities.

Northern Power Grid

Operating revenue increased $82 million for the third quarter of 2022 compared
to 2021, primarily due to higher revenue at CE Gas of $72 million from a gas
project that commenced commercial operation in March 2022 and a solar project
that commenced commercial operation in July 2022 and higher distribution revenue
of $63 million, partially offset by $60 million from the stronger U.S. dollar.
Distribution revenue increased due to the recovery of Supplier of Last Resort
payments totaling $45 million (fully offset in cost of sales) and higher tariff
rates of $28 million, partially offset by a 5.5% decline in units distributed of
$10 million.

Earnings increased $17 million for the third quarter of 2022 compared to 2021,
primarily due to the higher distribution tariff rates and improved earnings at
CE Gas of $19 million from the new gas and solar projects, partially offset by
$17 million from the stronger U.S. dollar, the decline in units distributed and
higher distribution-related operating and depreciation expenses of $6 million.

Operating revenue increased $162 million for the first nine months of 2022
compared to 2021, primarily due to higher distribution revenue of $133 million
and higher revenue at CE Gas of $122 million from the new gas and solar
projects, partially offset by $105 million from the stronger U.S. dollar.
Distribution revenue increased due to the recovery of Supplier of Last Resort
payments totaling $90 million (fully offset in cost of sales) and higher tariff
rates of $67 million, partially offset by a 4.0% decline in units distributed of
$22 million.

Earnings increased $120 million for the first nine months of 2022 compared to
2021, primarily due to a deferred income tax charge of $109 million related to a
June 2021 enacted increase in the United Kingdom corporate income tax rate from
19% to 25% effective April 1, 2023, the higher distribution tariff rates and
improved earnings at CE Gas of $28 million from the new gas and solar projects,
partially offset by higher distribution-related operating and depreciation
expenses of $33 million, including higher storm-related costs, the decline in
units distributed and $25 million from the stronger U.S. dollar.

BHE Pipeline Group

Operating revenue increased $179 million for the third quarter of 2022 compared
to 2021, primarily due to higher operating revenue of $151 million at BHE GT&S
and higher operating revenue of $27 million at Northern Natural Gas. The
increase in operating revenue at BHE GT&S was primarily due to higher
non-regulated revenue of $61 million (largely offset in cost of sales) from
favorable commodity prices, higher LNG revenue of $59 million at Cove Point,
from favorable variable revenue and additional services due to a decrease in
scheduled outage days, and an increase in regulated gas transportation and
storage services rates due to the settlement of EGTS' general rate case of $41
million, partially offset by lower gas sales of $14 million at EGTS used for
operational and system balancing activities. The increase in operating revenue
at Northern Natural gas was largely due to higher transportation revenue of $22
million from higher volumes and rates.
                                       33
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Earnings increased $90 million for the third quarter of 2022 compared to 2021,
primarily due to higher earnings of $95 million at BHE GT&S largely due to the
impacts of the EGTS general rate case of $50 million, favorable income tax
adjustments, lower operations and maintenance expense of $18 million and higher
earnings at Cove Point of $15 million from the higher operating revenue.

Operating revenue increased $271 million for the first nine months of 2022
compared to 2021, primarily due to higher operating revenue of $280 million at
BHE GT&S, partially offset by lower operating revenue of $17 million at Northern
Natural Gas. The increase in operating revenue at BHE GT&S was primarily due to
higher non-regulated revenue of $130 million (largely offset in cost of sales)
from favorable commodity prices, higher LNG revenue of $97 million at Cove
Point, from favorable variable revenue and additional services due to a decrease
in scheduled outage days, and an increase in regulated gas transportation and
storage services rates due to the settlement of EGTS' general rate case of $66
million, partially offset by lower gas sales of $31 million at EGTS used for
operational and system balancing activities. The decrease in operating revenue
at Northern Natural Gas was mainly due to lower gas sales of $27 million related
to system balancing activities offset by higher transportation revenue of $19
million. The variances in gas sales and transportation revenue included
favorable impacts recognized in the first quarter of 2021 of $77 million and $49
million, respectively, from the February 2021 polar vortex weather event.
Excluding this item, gas sales increased $50 million (largely offset in cost of
sales) and transportation revenue increased $68 million due to higher volumes
and rates.

Earnings increased $128 million for the first nine months of 2022 compared to
2021, primarily due to higher earnings of $194 million at BHE GT&S, partially
offset by lower earnings of $62 million at Northern Natural Gas. Earnings at BHE
GT&S increased mainly due to the impacts of the EGTS general rate case of $81
million, favorable income tax adjustments, lower operations and maintenance and
property and other tax expense of $47 million, increased earnings at Cove Point
of $24 million from the higher operating revenue and higher margin of $22
million from non-regulated activities. Earnings at Northern Natural Gas
decreased as the higher gross margin on gas sales and higher transportation
revenue in the first quarter of 2021 from the February 2021 polar vortex weather
event were partially offset by the favorable transportation revenue in 2022 due
to higher volumes and rates.

BHE Transmission

Operating revenue decreased $8 million for the third quarter and $4 million for
the first nine months of 2022 compared to 2021, primarily due to the stronger
U.S. dollar of $6 million and $13 million, respectively, and lower revenue from
the Montana-Alberta Tie Line, partially offset by higher non-regulated revenue
from a wind-powered generating facility.

Earnings decreased $6 million for the third quarter and $1 million for the first
nine months of 2022 compared to 2021, primarily due to lower earnings from the
Montana-Alberta Tie Line, higher non-regulated interest expense and the stronger
U.S. dollar of $2 million and $3 million, respectively, partially offset by
improved equity earnings at Electric Transmission Texas, LLC and the higher
non-regulated revenue.

BBB Renewables

Operating revenue decreased $14 million for the third quarter of 2022 compared
to 2021, primarily due to higher wind, geothermal and solar revenues of $37
million, from higher generation and pricing, and favorable changes in the
valuation of certain derivative contracts totaling $6 million, partially offset
by lower natural gas revenues of $45 million from lower generation and hedge
losses and lower hydro earnings of $13 million due to the transfer of the
Casecnan generating facility to the Philippine National Irrigation
Administration in December 2021.

Earnings increased $10 million for the third quarter of 2022 compared to 2021,
primarily due to higher wind earnings of $29 million and higher geothermal
earnings of $9 million, largely due to the higher operating revenue, partially
offset by lower natural gas earnings of $21 million, largely due to the lower
operating revenue and lower hydro earnings of $9 million due to the Casecnan
generating facility transfer. Wind earnings increased primarily due to higher
earnings from owned projects of $16 million, largely from the higher operating
revenue, and higher earnings from tax equity investments of $13 million, mainly
from higher production tax credits offset by unfavorable operating performance.

Operating revenue decreased $10 million for the first nine months of 2022
compared to 2021, primarily due to lower natural gas revenues of $55 million
from lower generation and hedge losses, unfavorable changes in the valuation of
certain derivative contracts totaling $51 million and lower hydro revenues of
$19 million due to the Casecnan generating facility transfer, partially offset
by higher wind, geothermal and solar revenues of $114 million from higher
generation and pricing.

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Earnings increased $166 million for the first nine months of 2022 compared to
2021, primarily due to higher wind earnings of $179 million, higher geothermal
earnings of $18 million, largely due to the higher operating revenue and lower
maintenance costs, and higher solar earnings of $13 million, mainly due to the
higher operating revenue, partially offset by lower natural gas earnings of $20
million largely due to the lower operating revenue and lower hydro earnings of
$19 million due to the Casecnan generating facility transfer. Wind earnings
increased primarily due to higher earnings from tax equity investments of $136
million, mainly as a result of the unfavorable impacts recognized in the first
quarter of 2021 from the February 2021 polar vortex weather event and higher
production tax credits offset by unfavorable operating performance, and higher
earnings from owned projects of $43 million, largely from the higher operating
revenue and favorable production tax credits offset by the unfavorable
derivative contract valuations.

HomeServices

Operating revenue decreased $338 million for the third quarter of 2022 compared
to 2021, primarily due to lower brokerage and settlement services revenue of
$252 million, from a 16% decrease in closed transaction volume, and lower
mortgage revenue of $82 million from a 39% decrease in funded volume, primarily
due to a decline in refinance activity. The decrease in brokerage volume was due
to 24% fewer closed units at existing companies offset by acquisitions and a 5%
increase in average sales price at existing companies.

Earnings decreased $73 million for the third quarter of 2022 compared to 2021,
primarily due to lower earnings from brokerage and settlement services of $49
million, largely attributable to the decrease in closed units at existing
companies, and lower earnings from mortgage services of $30 million from the
decrease in funded volume.

Operating revenue decreased $454 million for the first nine months of 2022
compared to 2021, primarily due to lower mortgage revenue of $242 million from a
36% decrease in funded volume, primarily due to a decline in refinance activity,
and lower brokerage and settlement services revenue of $212 million from a 4%
decrease in closed transaction volume. The decrease in brokerage volume was due
to 19% fewer closed units at existing companies offset by acquisitions and an 8%
increase in average sales price at existing companies.

Earnings decreased $187 million for the first nine months of 2022 compared to
2021, primarily due to lower earnings from mortgage services of $101 million,
largely from the decrease in funded volumes, and lower earnings from brokerage
and settlement services of $98 million due to the decrease in closed units at
existing companies, partially offset by favorable operating expense variances.

BHE and others

Operating revenue increased $56 million for the third quarter of 2022 compared
to 2021, primarily due to higher electric and natural gas sales revenue at
MidAmerican Energy Services, LLC, from favorable pricing, including changes in
unrealized positions on natural gas derivative contracts, and higher electric
volumes, partially offset by lower natural gas volumes.

Earnings decreased $2,775 million for the third quarter of 2022 compared to
2021, primarily due to the $2,827 million unfavorable comparative change in the
Company's investment in BYD Company Limited, lower earnings of $16 million at
MidAmerican Energy Services, LLC, mainly due to unfavorable changes in
unrealized positions on derivative contracts, higher BHE corporate interest
expense from an April 2022 debt issuance and higher corporate costs, partially
offset by $77 million of higher federal income tax credits recognized on a
consolidated basis and $18 million of lower dividends on BHE's 4.00% Perpetual
Preferred Stock issued to certain subsidiaries of Berkshire Hathaway.

Operating revenue increased $42 million for the first nine months of 2022
compared to 2021, primarily due to higher natural gas and electric sales revenue
at MidAmerican Energy Services, LLC, from favorable natural gas pricing,
including changes in unrealized positions on derivative contracts, and higher
electric volumes, partially offset by unfavorable electric pricing and lower
natural gas volumes.

Earnings decreased $2,330 million for the first nine months of 2022 compared to
2021, primarily due to the $2,394 million unfavorable comparative change in the
Company's investment in BYD Company Limited, unfavorable changes in the cash
surrender value of corporate-owned life insurance policies and higher BHE
corporate interest expense from an April 2022 debt issuance, partially offset by
$64 million of lower dividends on BHE's 4.00% Perpetual Preferred Stock issued
to certain subsidiaries of Berkshire Hathaway, lower corporate costs and higher
earnings of $29 million at MidAmerican Energy Services, LLC, mainly due to
favorable changes in unrealized positions on derivative contracts.

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Cash and capital resources

Each of BHE's direct and indirect subsidiaries is organized as a legal entity
separate and apart from BHE and its other subsidiaries. It should not be assumed
that the assets of any subsidiary will be available to satisfy BHE's obligations
or the obligations of its other subsidiaries. However, unrestricted cash or
other assets that are available for distribution may, subject to applicable law,
regulatory commitments and the terms of financing and ring-fencing arrangements
for such parties, be advanced, loaned, paid as dividends or otherwise
distributed or contributed to BHE or affiliates thereof. The Company's long-term
debt may include provisions that allow BHE or its subsidiaries to redeem such
debt in whole or in part at any time. These provisions generally include
make-whole premiums. Refer to Note 18 of Notes to Consolidated Financial
Statements in Item 8 of the Company's Annual Report on Form 10-K for the year
ended December 31, 2021 for further discussion regarding the limitation of
distributions from BHE's subsidiaries.

As of September 30, 2022, the Company's total net liquidity was as follows (in
millions):

                                                                                                                                                                         BHE Pipeline
                                                                   MidAmerican            NV             Northern               BHE                                       Group and
                              BHE             PacifiCorp             Funding            Energy           Powergrid             Canada             HomeServices              Other                Total

Cash and cash equivalents  $   106          $       219          $        582          $  123          $      164          $        60          $         291          $         232          $  1,777

Credit facilities(1)         3,500                1,200                 1,509             650                 237                  777                  3,400                      -            11,273
Less:
Short-term debt               (100)                   -                     -            (320)                (14)                (261)                  (746)                     -            (1,441)
Tax-exempt bond support
and letters of credit            -                 (218)                 (370)            (17)                  -                   (1)                     -                      -              (606)
Net credit facilities        3,400                  982                 1,139             313                 223                  515                  2,654                      -             9,226

Total net liquidity        $ 3,506          $     1,201          $      1,721          $  436          $      387          $       575          $       2,945          $         232          $ 11,003
Credit facilities:
Maturity dates                   2025                 2025            2023, 2025            2025          2024, 2026           2023, 2026             2023, 2026


(1)Includes $14 million drawn on a capital credit facility
Operation of the Northern Electricity Grid.

Operational activities

Net cash flows from operating activities for the nine-month periods ended
September 30, 2022 and 2021 have been $7.9 billion and $7.0 billion, respectively. The increase is mainly due to favorable tax cash flow, improved operating results and changes in working capital.

The timing of the Company’s income tax cash flows from period to period may be significantly affected by the estimated federal tax payment methods chosen and the assumptions made for each payment date.

Investing activities

Net cash flows from investing activities for the nine-month periods ended
September 30, 2022 and 2021 were $(5.5) billion and $(3.5) billion,
respectively. The change was primarily due to higher capital expenditures of
$791 million, higher other investment purchases of $628 million, including $614
million of U.S. Treasury Bills, and the July 2021 receipt of $1.3 billion due to
the termination of the Q-Pipe Purchase Agreement, partially offset by higher net
sales of marketable securities of $607 million. Refer to "Future Uses of Cash"
for a discussion of capital expenditures.

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Fundraising activities

Net cash flows from financing activities for the nine-month period ended
September 30, 2022 was $(1.6) billion. Sources of cash totaled $2.2 billion and
consisted of proceeds from subsidiary debt issuances totaling $1.2 billion and
proceeds from BHE senior debt issuances totaling $1.0 billion. Uses of cash
totaled $3.8 billion and consisted mainly of repayments of subsidiary debt
totaling $882 million, purchases of common stock totaling $870 million,
preferred stock redemptions of $800 million, net repayments of short-term debt
totaling $540 million and distributions to noncontrolling interests of $395
million.

For discussions of recent financing and BHE shareholders' equity transactions,
refer to Notes 4 and 10 of Notes to Consolidated Financial Statements in Part I,
Item 1 of this Form 10-Q.

Net cash flows from financing activities for the nine-month period ended
September 30, 2021 was $(2.0) billion. Sources of cash consisted of proceeds
from subsidiary debt issuances totaling $2.0 billion. Uses of cash totaled $4.0
billion and consisted mainly of preferred stock redemptions of $1.5 billion,
repayments of subsidiary debt totaling $1.3 billion, repayments of BHE senior
debt totaling $450 million, distributions to noncontrolling interests of $366
million and net repayments of short-term debt totaling $316 million.

Future uses of cash

The Company has available a variety of sources of liquidity and capital
resources, both internal and external, including net cash flows from operating
activities, public and private debt offerings, the issuance of commercial paper,
the use of unsecured revolving credit facilities, the issuance of equity and
other sources. These sources are expected to provide funds required for current
operations, capital expenditures, acquisitions, investments, debt retirements
and other capital requirements. The availability and terms under which BHE and
each subsidiary has access to external financing depends on a variety of
factors, including regulatory approvals, its credit ratings, investors' judgment
of risk and conditions in the overall capital markets, including the condition
of the utility industry and project finance markets, among other items.

Capital expenditure

The Company has significant future capital requirements. Capital expenditure
needs are reviewed regularly by management and may change significantly as a
result of these reviews, which may consider, among other factors, impacts to
customer rates; changes in environmental and other rules and regulations;
outcomes of regulatory proceedings; changes in income tax laws; general business
conditions; load projections; system reliability standards; the cost and
efficiency of construction labor, equipment and materials; commodity prices; and
the cost and availability of capital.

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The Company's historical and forecast capital expenditures, each of which
exclude amounts for non-cash equity AFUDC and other non-cash items, are as
follows (in millions):

                                                  Nine-Month Periods            Annual
                                                  Ended September 30,          Forecast
                                                   2021            2022          2022

Capital expenditures by company:

         PacifiCorp                          $    1,157          $ 1,481    

$2,255

         MidAmerican Funding                      1,266            1,404    

2,039

         NV Energy                                  519              801    

1,289

         Northern Powergrid                         564              614    

791

         BHE Pipeline Group                         684              800         1,223
         BHE Transmission                           234              143           223
         BHE Renewables                             129               99           161
         HomeServices                                29               31            53
         BHE and Other(1)                            12               12            18
         Total                               $    4,594          $ 5,385      $  8,052


           Capital expenditures by type:
           Wind generation                        $   872      $   583      $   846
           Electric distribution                    1,217        1,316        1,814
           Electric transmission                      539        1,157        1,743
           Natural gas transmission and storage       647          640          959
           Solar generation                           104          333          408
           Other                                    1,215        1,356        2,282
           Total                                  $ 4,594      $ 5,385      $ 8,052

(1)BHE and others represent amounts primarily related to other entities, including MidAmerican Energy Services, LLCcorporate functions and intersegment eliminations.

The Company’s historical and planned capital expenditures consisted primarily of the following items:

•Wind generation includes both growth and operating expenses. Growth expenses include expenses for the following:

• Construction of wind power generation facilities in MidAmerican Energy
totaling $39 million and $275 million for the nine-month periods ended
September 30, 2022 and 2021, respectively. Total planned expenditures for the construction of additional wind facilities $74 million for the remainder of 2022.

•Repowering of wind-powered generating facilities at MidAmerican Energy totaling
$422 million and $274 million for the nine-month periods ended September 30,
2022 and 2021, respectively. Planned spending for the repowering of wind-powered
generating facilities totals $98 million for the remainder of 2022. MidAmerican
Energy expects its repowered facilities to meet Internal Revenue Service
guidelines for the re-establishment of PTCs for 10 years from the date the
facilities are placed in-service. As a result of the Inflation Reduction Act of
2022, all of the 310 MWs of current repowering projects not in-service as of
September 30, 2022, are currently expected to qualify for 100% of the PTCs
available for 10 years following each facility's return to service.

•Construction of wind-powered generating facilities at PacifiCorp totaling $5
million and $99 million for the nine-month periods ended September 30, 2022 and
2021, respectively. Construction includes 516 MWs of new wind-powered generating
facilities that were placed in-service in 2021. Planned spending for
constructing additional wind-powered generating facilities totals $22 million
for the remainder of 2022.

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•Planned acquisition and repowering of two wind-powered generating facilities by
PacifiCorp totaling $16 million and $9 million for the nine-month periods ended
September 30, 2022 and 2021, respectively. The repowered facilities are expected
to be placed in-service in 2023 and 2024. Planned spending for acquiring and
repowering generating facilities totals $8 million for the remainder of 2022.

•Repowering of wind power plants in BBB Renewables totaling $45 million for the nine-month period ended September 30, 2022.

•Electric distribution includes both growth and operating expenditures. Growth
expenditures include spending for new customer connections and enhancements to
existing customer connections. Operating expenditures include spending for
ongoing distribution systems infrastructure needed at the Utilities and Northern
Powergrid, wildfire mitigation, storm damage restoration and repairs and
investments in routine expenditures for distribution needed to serve existing
and expected demand.

•Electric transmission includes both growth and operating expenses. Growth expenses include expenses for the following:

•PacifiCorp's transmission investment primarily reflects planned costs for the
416-mile, 500-kV high-voltage transmission line between the Aeolus substation
near Medicine Bow, Wyoming and the Clover substation near Mona, Utah; the
59-mile, 230-kV high-voltage transmission line between the Windstar substation
near Glenrock, Wyoming and the Aeolus substation; and the 290-mile, 500-kV
high-voltage transmission line from the Longhorn substation near Boardman,
Oregon to the Hemingway substation near Boise, Idaho. Expenditures for these
segments totaled $640 million and $57 million for the nine-month periods ended
September 30, 2022 and 2021, respectively. Planned spending for these Energy
Gateway Transmission segments to be placed in-service in 2024-2026 totals
$299 million for the remainder of 2022.

•Nevada Utilities' Greenlink Nevada transmission expansion program. In this
project, the company has received approval from the PUCN to build a 350-mile,
525-kV transmission line, known as Greenlink West, connecting the Ft. Churchill
substation to the Northwest substation to the Harry Allen substation; a
235-mile, 525-kV transmission line, known as Greenlink North, connecting the new
Ft. Churchill substation to the Robinson Summit substation; a 46-mile, 345-kV
transmission line from the new Ft. Churchill substation to the Mira Loma
substations; and a 38-mile, 345-kV transmission line from the new Ft. Churchill
substation to the Robinson Summit substations. Expenditures for the expansion
program and other growth projects totaled $91 million and $64 million for the
nine-month periods ended September 30, 2022 and 2021, respectively. Planned
spending for the expansion program estimated to be placed in-service in
2026-2028 and other growth projects totals $53 million for the remainder of
2022.

•Operating expenditures include spending for system reinforcement, upgrades and
replacements of facilities to maintain system reliability and investments in
routine expenditures for transmission needed to serve existing and expected
demand.

•Natural gas transmission and storage includes both growth and operating
expenditures. Growth expenditures include, among other items, spending for asset
modernization and the Northern Natural Gas Twin Cities Area Expansion and
Spraberry Compression projects. Operating expenditures include, among other
items, spending for pipeline integrity projects, automation and controls
upgrades, underground storage, corrosion control, unit exchanges, compressor
modifications, projects related to Pipeline and Hazardous Materials Safety
Administration natural gas storage rules and natural gas transmission, storage
and liquefied natural gas terminalling infrastructure needs to serve existing
and expected demand.

• Solar production includes growth expenses, including expenses for the following:

•Construction of solar-powered generating facilities at MidAmerican Energy
totaling 141 MWs of small- and utility-scale solar generation, all of which were
placed in-service as of September 30, 2022, with total spend of $103 million and
$97 million for the nine-month periods ended September 30, 2022 and 2021,
respectively, and planned spending of $33 million for the remainder of 2022.

•Construction of a solar-powered generating facility at Nevada Power totaling
$47 million and $7 million for the nine-month periods ended September 30, 2022
and 2021, respectively and planned spending of $42 million for the remainder of
2022. Construction includes expenditures for a 150-MW solar photovoltaic
facility with an additional 100 MWs of co-located battery storage that will be
developed in Clark County, Nevada. Commercial operation is expected by the end
of 2023.

• BHE Renewables has made installments on 785 MW of solar modules totaling $22 million for the nine-month period ended September 30, 2022.

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• Other capital expenditures include both growth and operating expenditures, including routine expenditures for generation and other infrastructure needed to meet existing and forecasted demand, natural gas distribution, technology and environmental expenditures related to emission control equipment and the management of coal combustion residues.

Material cash needs

As of September 30, 2022, there have been no material changes in cash
requirements from the information provided in Item 7 of the Company's Annual
Report on Form 10-K for the year ended December 31, 2021, other than those
disclosed in Notes 4 and 8 of the Notes to Consolidated Financial Statements in
Part I, Item 1 of this Form 10-Q.

Quad Cities Power Plant Operating Status

Constellation Energy Corp. ("Constellation Energy," previously Exelon Generation
Company, LLC, which was a subsidiary of Exelon Corporation prior to February 1,
2022), the operator of Quad Cities Generating Station Units 1 and 2 ("Quad
Cities Station") of which MidAmerican Energy has a 25% ownership interest,
announced on June 2, 2016, its intention to shut down Quad Cities Station on
June 1, 2018. In December 2016, Illinois passed legislation creating a zero
emission standard, which went into effect June 1, 2017. The zero emission
standard requires the Illinois Power Agency to purchase ZECs and recover the
costs from certain ratepayers in Illinois, subject to certain limitations. The
proceeds from the ZECs will provide Constellation Energy additional revenue
through 2027 as an incentive for continued operation of Quad Cities Station.
MidAmerican Energy will not receive additional revenue from the subsidy.

The PJM Interconnection, L.L.C. ("PJM") capacity market includes a Minimum Offer
Price Rule ("MOPR"). If a generation resource is subjected to a MOPR, its offer
price in the market is adjusted to effectively remove the revenues it receives
through a state government-provided financial support program, resulting in a
higher offer that may not clear the capacity market. Prior to December 19, 2019,
the PJM MOPR applied only to certain new gas-fired resources. An expanded PJM
MOPR to include existing resources would require exclusion of ZEC compensation
when bidding into future capacity auctions, resulting in an increased risk of
Quad Cities Station not receiving capacity revenues in future auctions.

On December 19, 2019, the FERC issued an order requiring the PJM to broadly
apply the MOPR to all new and existing resources, including nuclear. This
greatly expanded the breadth and scope of the PJM's MOPR, which became effective
as of the PJM's capacity auction for the 2022-2023 planning year in May 2021.
While the FERC included some limited exemptions, no exemptions were available to
state-supported nuclear resources, such as Quad Cities Station. The FERC
provided no new mechanism for accommodating state-supported resources other than
the existing Fixed Resource Requirement ("FRR") mechanism under which an entire
utility zone would be removed from PJM's capacity auction along with sufficient
resources to support the load in such zone. In response to the FERC's order, the
PJM submitted a compliance filing on March 18, 2020, wherein the PJM proposed
tariff language reflecting the FERC's directives and a schedule for resuming
capacity auctions. On April 16, 2020, the FERC issued an order largely denying
requests for rehearing of the FERC's December 2019 order but granting a few
clarifications that required an additional PJM compliance filing, which the PJM
submitted on June 1, 2020. A number of parties, including Constellation Energy,
have filed petitions for review of the FERC's orders in this proceeding, which
remain pending before the D.C. Circuit.

As a result, the MOPR applied to Quad Cities Station in the capacity auction for
the 2022-2023 planning year, which prevented Quad Cities Station from clearing
in that capacity auction.

At the direction of the PJM Board of Managers, the PJM and its stakeholders
developed further MOPR reforms to ensure that the capacity market rules respect
and accommodate state resource preferences such as the ZEC programs. The PJM
filed related tariff revisions at the FERC on July 30, 2021, and, on September
29, 2021, the PJM's proposed MOPR reforms became effective by operation of law.
Under the new tariff provisions, the MOPR will no longer apply to Quad Cities
Station. Requests for rehearing of the FERC's notice establishing the effective
date for the PJM's proposed market reforms were filed in October 2021 and denied
by operation of law on November 4, 2021. Several parties have filed petitions
for review of the FERC's orders in this proceeding, which remain pending before
the Court of Appeals for the Third Circuit. Constellation Energy is strenuously
opposing these appeals.

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Assuming the continued effectiveness of the Illinois zero emission standard,
Constellation Energy no longer considers Quad Cities Station to be at heightened
risk for early retirement. However, to the extent the Illinois zero emission
standard does not operate as expected over its full term, Quad Cities Station
would be at heightened risk for early retirement. The FERC's December 19, 2019
order on the PJM MOPR may undermine the continued effectiveness of the Illinois
zero emission standard unless the PJM adopts further changes to the MOPR or
Illinois implements an FRR mechanism, under which Quad Cities Station would be
removed from the PJM's capacity auction.

Regulatory issues

BHE's regulated subsidiaries and certain affiliates are subject to comprehensive
regulation. The discussion below contains material developments to those matters
disclosed in Item 1 of each Registrant's Annual Report on Form 10-K for the year
ended December 31, 2021 and new regulatory matters occurring in 2022.

PacifiCorp

Oregon

In March 2022, PacifiCorp filed a general rate case requesting an overall rate
change of $82 million, or 6.6%, to become effective January 1, 2023, that
includes cost increases associated with the implementation of PacifiCorp's
wildfire mitigation and vegetation management plans. Parties to the case filed
testimony in June 2022. PacifiCorp filed reply testimony in July 2022 supporting
an overall rate increase of $94 million but proposing that the request be capped
at PacifiCorp's original request. PacifiCorp and parties to the case settled
various aspects of the general rate case in multiple settlement stipulations. In
August 2022, the first partial stipulation was filed resolving issues related to
wildfire mitigation and vegetation management, including addressing the
associated costs increases. Also in August 2022, a second partial stipulation
was filed representing the settlement of certain revenue requirement issues
among the stipulating parties, including the extension of Oregon's recovery
period for Jim Bridger Units 1 and 2 that will be converted to natural
gas-fueled units and certain other issues. In September 2022, a third
stipulation was filed resolving most of the remaining issues in the general rate
case following the first and second partial stipulations. The stipulations
together result in a total rate increase of $49 million, or 3.9%, effective
January 1, 2023. The stipulating parties also agreed to amortize certain
deferrals totaling approximately $10 million, or 0.8 %, in the first year of
amortization, effective April 1, 2023. Further, in the third stipulation,
PacifiCorp agreed to a general rate case stay-out provision under which it
agreed not to file a general rate case with rates effective any earlier than
January 1, 2025. In September 2022, the fourth and final partial stipulation was
filed resolving technical issues related to a voluntary renewable energy tariff
that will allow non-residential customers to purchase energy from renewable
resources not currently in PacifiCorp's rates. A commission decision on the
stipulations is pending.

In May 2022, PacifiCorp filed its 2021 power cost adjustment mechanism ("PCAM"),
which is the first time since the mechanism has been in place that a rate change
has been warranted. After consideration of the mechanism's deadband, sharing
band and earnings test, PacifiCorp requested recovery of $52 million, or a 4.2%
increase, to become effective January 1, 2023. This request is incremental to
the rate change sought in the general rate case. In September 2022, a settlement
stipulation was filed agreeing to the recovery of the requested $52 million over
a four-year period beginning April 1, 2023. A commission decision on the
stipulation is pending.

In July 2022, PacifiCorp filed an application requesting approval of an
automatic adjustment clause with a balancing account to recover costs associated
with implementing PacifiCorp's wildfire protection plan in Oregon. Oregon Senate
Bill 762 provides for utilities to timely recover these costs through an
automatic adjustment clause. The filing requests a rate increase of $20 million,
or 1.6%, to recover incremental costs in 2022 and is incremental to costs
addressed in PacifiCorp's wildfire mitigation and vegetation management
mechanism through the general rate case stipulation described above. While
PacifiCorp requested an effective date of August 24, 2022, the OPUC has
suspended the filing for further review. A decision is expected in 2023.

Washington

In June 2021, PacifiCorp filed a power cost only rate case to update baseline
net power costs for 2022. PacifiCorp requested a $13 million, or 3.7%, rate
increase with an effective date of January 1, 2022. In November 2021, PacifiCorp
reached a proposed settlement with most of the parties, which includes an
agreement to adjust the PTC rate in base rates and apply a production factor and
include a net power cost update as part of the compliance filing. A hearing was
held in January 2022 and the WUTC issued an order approving the settlement in
March 2022. A compliance filing reflecting a $43 million, or 12.2%, increase was
filed in April 2022 with rates effective May 1, 2022.

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In June 2022, PacifiCorp filed its 2021 PCAM and the new tracking mechanism for
PTCs approved in the 2021 general rate case. For the 2021 PCAM, PacifiCorp is
requesting a recovery of $26 million, or a 6.5% increase. PacifiCorp proposed
that the 2021 PCAM be amortized over two years, rather than the one-year period
required under the current terms of the PCAM. For the new 2021 PTC tracker,
PacifiCorp is seeking recovery of $3 million, or an 0.8% increase. Should the
WUTC approve the proposal to extend the amortization period of the 2021 PCAM
from one to two years, the combined annual increase would be $16 million, or
4.0%, effective January 1, 2023.

California

In May 2022, PacifiCorp filed a general rate case requesting an overall rate
change of $28 million, or 25.7%, to become effective January 1, 2023. In June
2022, a proposed procedural schedule was developed that would result in a
decision in August 2023.

In August 2022, PacifiCorp filed an Energy Cost Adjustment Clause ("ECAC")
application requesting an overall rate increase of $15 million, or 13.6%,
effective January 1, 2023. Approximately $4 million of the increase, or 3.6%, is
attributed to the ECAC rate and $11 million of the increase, or 10.0%, to the
Greenhouse Gas rate.

MidAmerican Energy

South Dakota

In May 2022, MidAmerican Energy filed an application with the South Dakota Public Utilities Commission (“SDPUC”) for an increase in sound South Dakota retail natural gas prices, which would increase revenues for $7 million annually. If approved, the requested tariffs would increase retail customer bills by an average of 6.4%.

PRIME Wind

In January 2022, MidAmerican Energy filed an application with the IUB for
advance ratemaking principles for Wind PRIME. If approved, MidAmerican Energy
expects to proceed with Wind PRIME, which consists of up to 2,042 MWs of new
wind generation and up to 50 MWs of solar generation. If all of Wind PRIME
generation is constructed, MidAmerican Energy will own over 9,300 MWs of wind
generation and nearly 200 MWs of solar generation. Wind PRIME is projected to
allow MidAmerican Energy to generate renewable energy greater than or equal to
all of its Iowa retail customers' annual energy needs. MidAmerican Energy
secured sufficient safe harbor equipment necessary to remain eligible for 100%
PTCs under current tax law. Procedural hearings with the IUB are expected to
begin in February 2023.

NV Energy (Nevada Power and Sierra Pacific)

Senate Bill 448 (“SB 448”)

SB 448 was signed into law on June 10, 2021. The legislation is intended to
accelerate transmission development, renewable energy and storage, and
accelerate transportation electrification within the state of Nevada. In
September 2021, the Nevada Utilities filed an amendment to the 2021 Joint IRP
for the approval of their Transmission Infrastructure for a Clean Energy Economy
Plan that sets forth a plan for the construction of high-voltage transmission
infrastructure, Greenlink North among others, that will be placed into service
no later than December 31, 2028, and requires the IRP to include at least one
scenario that uses sources of supply that will achieve certain reductions in
carbon dioxide emissions. In September 2021, the Nevada Utilities filed an
application for the approval of their Economic Recovery Transportation
Electrification Plan to accelerate transportation electrification in the state
of Nevada. The plan establishes requirements for the contents of the
transportation electrification investment as well as requirements for review,
cost recovery and monitoring. The plan covers an initial period beginning
January 1, 2022 and ending on December 31, 2024. In November 2021, the PUCN
issued an order granting the application and accepting the Economic Recovery
Transportation Electrification Plan with some modifications. The PUCN opened
rulemakings to address other regulations that resulted from SB 448. In February
2022, the PUCN adopted regulations regarding the Economic Development Electric
Rate Rider Program to revise the discounted electric rates to ease the economic
burden on small businesses who take advantage of the discounted rates under the
tariff. In September 2022, the PUCN adopted regulations regarding resource
planning, which incorporates a plan to accelerate transportation electrification
into the distributed resources plan pursuant to SB 448.

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ON Line Temporary Rider (“ONTR”)

In October 2021, Sierra Pacific filed an application with the PUCN for approval
of the ONTR with corresponding updates to its electric rate tariffs to authorize
recovery of the One Nevada Transmission Line ("ON Line") regulatory asset being
accumulated as a result of the ON Line cost reallocation as well as the related
on-going reallocated revenue requirement. Sierra Pacific's application would
have, if approved by the PUCN as filed, resulted in a one-time rate increase of
$28 million to be collected over a nine-month period starting on April 1, 2022.
In March 2022, the PUCN issued an order directing Sierra Pacific to recover $14
million of the ON Line regulatory asset as a one-time rate increase collectable
over a nine-month period effective April 1, 2022, with the expected remaining
balance at December 31, 2022 to be included in rate base in the 2022 regulatory
rate review for inclusion in the rates set in that case.

Merge request

In March 2022, the Nevada Utilities filed a joint application with the PUCN for
authorization to merge Sierra Pacific with and into Nevada Power, with Nevada
Power being the surviving entity. If approved by the PUCN as filed, Nevada Power
will have two distinct electric service territories in northern and southern
Nevada each with their own rates and one natural gas service territory in the
Reno and Sparks area. In October 2022, the proceedings relating to the joint
application were postponed to November 2022. An order is expected in the first
half of 2023.

Regulatory Rate Review

In June 2022, Sierra Pacific filed a regulatory rate review with the PUCN that
requested an annual revenue increase of $88 million, or 9.7%. In addition, a
filing was made to revise depreciation rates based on a study, the results of
which are reflected in the proposed revenue requirement. In August 2022, Sierra
Pacific filed an updated certification filing that requested an annual revenue
increase of $77 million, or 8.5%. Parties to the review filed testimony and
evidence in August and September 2022. Hearings in the cost of capital and
revenue requirement phases were held in September and October 2022,
respectively. The hearings in the rate design phase are scheduled for November
2022. An order is expected by the end of 2022 and, if approved, would be
effective January 1, 2023.

Transportation Electrification Plan (“TEP”)

In September 2022, the Nevada Utilities filed an amendment to the 2021 Joint IRP
for the approval of a Distributed Resource Plan amendment to implement the
state's first TEP pursuant to Section 51 of SB 448 and approve proposed tariffs
and schedules to implement the TEP. The 2022 TEP outlines programs, investments
and incentives to accelerate transportation electrification across Nevada. The
Nevada Utilities anticipate a budget of $348 million, which represents the
maximum cost over the depreciable life of the TEP's programs and assets, to
deploy the TEP in 2023 through 2024.

Northern Power Grid Distribution Companies

GEMA, through Ofgem, is undertaking its scheduled review of the electricity
distribution price control to put in place a new price control at the end of the
current period that ends March 2023. The new price control ("ED2") will run for
five years from April 2023 to March 2028. In December 2020 and March 2021, GEMA
published its decision on the methodology it will use to set ED2. This confirmed
that Ofgem will maintain many aspects of the current price control and that the
changes being made will generally follow the template that was set by the price
controls implemented in April 2021 for transmission and gas distribution in
Great Britain. Specific changes include new service standard incentives and
mechanisms to adjust cost allowances in specific circumstances, while others
will be discontinued, and partially updating the allowed return on equity within
the period for changes in the interest rate on government bonds.

In December 2021, Northern Powergrid published and filed its business plan with
Ofgem, setting out its detailed approach for 2023-2028 including the cost
allowances this approach would require. In June 2022, Ofgem published its draft
determinations, which included an allowed cost of equity of 4.75% plus inflation
(calculated using the United Kingdom's consumer price index including owner
occupiers' housing costs). When placed on a comparable footing, by adjusting for
differences in the assumed equity ratio and the measure of inflation used, this
working assumption is approximately two percentage points lower than the current
cost of equity for electricity distribution. Ofgem's proposals also set out cost
allowances and associated expectations. In August 2022, Northern Powergrid
formally responded to Ofgem's consultation on its draft determinations to lobby
for a better settlement. Final values from Ofgem are expected in November 2022.

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BHE Pipeline Group

BHE CG&S

In September 2021, EGTS filed a general rate case for its FERC-jurisdictional
services, with proposed rates to be effective November 1, 2021. EGTS' previous
general rate case was settled in 1998. EGTS proposed an annual cost-of-service
of approximately $1.1 billion, and requested increases in various rates,
including general system storage rates by 85% and general system transportation
rates by 60%. In October 2021, the FERC issued an order that accepted the
November 1, 2021 effective date for certain changes in rates, while suspending
the other changes for five months following the proposed effective date, until
April 1, 2022, subject to refund. In September 2022, a settlement agreement was
filed with the FERC, resolving EGTS' general rate case for its
FERC-jurisdictional services and providing for increased service rates and
decreased depreciation rates. Under the terms of the settlement agreement, EGTS'
rates result in an increase to annual firm transportation and storage revenues
of approximately $160 million and a decrease in annual depreciation expense of
approximately $30 million, compared to the rates in effect prior to April 1,
2022. As of September 30, 2022, EGTS' provision for rate refund for April 2022
through September 2022 totaled $56 million and was included in other current
liabilities on the Consolidated Balance Sheet. FERC approval of the settlement
is expected late 2022 or early 2023.

Northern Natural Gas

In July 2022, Northern Natural Gas filed a general rate case that proposed an
overall annual cost-of-service of $1.3 billion. This is an increase of $323
million above the cost of service filed in its 2019 rate case of $1.0 billion.
Depreciation on increased rate base and an increase in depreciation and negative
salvage rates account for $115 million of the $323 million increase in the filed
cost of service. Northern Natural Gas has requested increases in various rates,
including transportation reservation rates ranging from approximately 45% in the
Field Area to 120% in the Market Area to be implemented, subject to refund, on
August 1, 2022. In July 2022, the FERC issued an order that suspended the rates
proposed for five months following the proposed effective date, until January 1,
2023, subject to refund and the outcome of hearing procedures.

BHE transmission

AltaLink

Request for general rate 2022-2023

In April 2021, AltaLink filed its 2022-2023 GTA delivering on the last two years
of its commitment to keep rates flat for customers at or below the 2018 level of
C$904 million for the five-year period from 2019 to 2023. The two-year
application achieves flat tariffs by continuing to transition to the
AUC-approved salvage recovery method and continuing the use of the flow-through
income tax method, with an overall year-over-year increase of approximately 2%
in 2022 and 2023 revenue requirements. The application requested the approval of
transmission tariffs of C$824 million and C$847 million for 2022 and 2023,
respectively after proposed refunds. In September 2021, AltaLink provided
responses to information requests from the AUC and filed an amended application
to reflect certain adjustments and forecast updates.

In January 2022, the AUC issued its decision with respect to AltaLink's
2022-2023 GTA. AltaLink's 2022-2023 GTA reflected its continued commitment to
provide rate stability to customers by maintaining flat tariffs and providing
additional tariff relief measures, including a proposed tariff refund of C$60
million of accumulated depreciation in each of 2022 and 2023. The AUC did not
approve AltaLink's proposed refund due to an anticipated improvement in general
economic conditions in Alberta. In March 2022, AltaLink filed a review and
variance application requesting the AUC to review and vary its decision to deny
AltaLink's proposed C$120 million refund of accumulated depreciation surplus,
given material changes in circumstances since the decision was issued in January
2022. In May 2022, the AUC issued a decision with respect to AltaLink's
application to review and vary its proposed $120 million refund of accumulated
depreciation surplus. The AUC found that a material decline in Alberta's
economic circumstances is not sufficient evidence to warrant the refund.

In July 2022, AltaLink submitted its second compliance filing application with
total 2022 and 2023 revenue requirements at C$879 million and C$883 million,
respectively. In August 2022, the AUC approved the revised revenue requirements
as filed, allowing AltaLink to fully deliver on its flat-for-five commitment to
customers.

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2023 Generic Cost of Capital Proceeding

In January 2022, the AUC initiated the 2023 generic cost of capital proceeding.
The proceeding will be conducted in two stages. The first stage will determine
the cost of capital parameters for 2023 and the second stage will consider
returning to a formula-based approach to establish cost of capital adjustments,
commencing in 2024. In March 2022, the AUC issued its decision with respect to
the first stage of the 2023 GCOC proceeding by approving the extension of the
2022 return on equity of 8.5% and deemed equity ratio of 37% for 2023,
recognizing lingering uncertainty and continued volatility of financial markets
due to the COVID-19 pandemic. In June 2022, the AUC initiated the second stage
to explore a formula-based approach to determine the return on equity for 2024
and future test periods.

Environmental laws and regulations

Each Registrant is subject to federal, state, local and foreign laws and
regulations regarding climate change, RPS, air and water quality, emissions
performance standards, coal combustion byproduct disposal, hazardous and solid
waste disposal, protected species and other environmental matters that have the
potential to impact each Registrant's current and future operations. In addition
to imposing continuing compliance obligations, these laws and regulations
provide regulators with the authority to levy substantial penalties for
noncompliance, including fines, injunctive relief and other sanctions. These
laws and regulations are administered by various federal, state, local and
international agencies. Each Registrant believes it is in material compliance
with all applicable laws and regulations, although many are subject to
interpretation that may ultimately be resolved by the courts. The discussion
below contains material developments to those matters disclosed in Item 1 of
each Registrant's Annual Report on Form 10-K for the year ended December 31,
2021, and new environmental matters occurring in 2022.

Climate change

Affordable Clean Energy Rule

In June 2014, the EPA released proposed regulations to address greenhouse gas
emissions from existing fossil-fueled generating facilities, referred to as the
Clean Power Plan, under Section 111(d) of the Clean Air Act. The EPA's proposal
calculated state-specific emission rate targets to be achieved based on the
"best system of emission reduction." In August 2015, the final Clean Power Plan
was released, which established the best system of emission reduction as
including: (a) heat rate improvements; (b) increased utilization of existing
combined-cycle natural gas-fueled generating facilities; and (c) increased
deployment of new and incremental non-carbon generation placed in-service after
2012. The Clean Power Plan was stayed by the United States Supreme Court in
February 2016 while litigation proceeded. On June 19, 2019, the EPA repealed the
Clean Power Plan and issued the Affordable Clean Energy rule. In the Affordable
Clean Energy rule, the EPA determined that the best system of emission reduction
for existing coal-fueled generating facilities is limited to actions that can be
taken at a point source facility, specifically heat rate improvements, and
identified a set of candidate technologies and measures that could improve heat
rates. Measures taken to meet the standards of performance must be achieved at
the source itself. The Affordable Clean Energy rule was challenged by
environmental and health groups in the D.C. Circuit. On January 19, 2021, the
D.C. Circuit vacated and remanded the Affordable Clean Energy rule to the EPA,
finding that the rule "rested critically on a mistaken reading of the Clean Air
Act" that limited the best system of emission reduction to actions taken at a
facility. In October 2021, the United States Supreme Court agreed to hear an
appeal of that decision. Arguments in the case were held February 28, 2022, and
on June 30, 2022, the United States Supreme Court issued its decision regarding
the scope of the EPA's authority to regulate greenhouse gas emissions under the
Clean Air Act. The United States Supreme Court held that the "generation
shifting" approach in the Clean Power Plan exceeded the powers granted to the
EPA by Congress, although the court did not address whether the EPA may only
adopt measures applied at the individual source as it did in the Affordable
Clean Energy rule. A key area where the EPA went astray was using the Clean
Power Plan to give states the option to promulgate regulations that would
encourage "generation shifting," or moving away from higher-polluting power
sources like coal to lower-polluting sources like natural gas or renewables. The
United States Supreme Court found that type of regulation, which would impact
larger economic forces beyond the fence lines of individual generating
facilities, is not permitted under Section 111(d) of the Clean Air Act. The
United States Supreme Court reversed the D.C. Circuit's vacatur of the
Affordable Clean Energy rule and remanded the case for further proceedings. The
ruling has no immediate impact on the Registrants, as there is no Section 111(d)
rule currently in effect. The Biden administration plans to propose by March
2023 its own rule to replace the Clean Power Plan and Affordable Clean Energy
rule.

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Clean Air Act Regulations

The Clean Air Act is a federal law administered by the EPA that provides a
framework for protecting and improving the nation's air quality and controlling
sources of air emissions. The implementation of new standards is generally
outlined in SIPs, which are a collection of regulations, programs and policies
to be followed. SIPs vary by state and are subject to public hearings and EPA
approval. Some states may adopt additional or more stringent requirements than
those implemented by the EPA. The major Clean Air Act programs most directly
affecting the Registrants' operations are described below.

National Ambient Air Quality Standards

Under the authority of the Clean Air Act, the EPA sets minimum NAAQS for six
principal pollutants, consisting of carbon monoxide, lead, NOx, particulate
matter, ozone and SO2, considered harmful to public health and the environment.
Areas that achieve the standards, as determined by ambient air quality
monitoring, are characterized as being in attainment, while those that fail to
meet the standards are designated as being nonattainment areas. Generally,
sources of emissions in a nonattainment area that are determined to contribute
to the nonattainment are required to reduce emissions. Currently, with the
exceptions described in the following paragraphs, air quality monitoring data
indicates that all counties where the relevant Registrant's major emission
sources are located are in attainment of the current NAAQS.

On June 4, 2018, the EPA published final ozone designations for much of the U.S.
Relevant to the Registrants, these designations include classifying Yuma County,
Arizona; Clark County, Nevada; and the Northern Wasatch Front, Southern Wasatch
Front and Duchesne and Uintah counties in Utah as nonattainment-marginal with
the 2015 ozone standard. These areas were required to meet the 2015 standard
three years from the August 3, 2018, effective date. All other areas relevant to
the Registrants were designated attainment/unclassifiable with this same action.
However, on January 29, 2021, the D.C. Circuit vacated several provisions of the
2018 implementing rules for the 2015 ozone standards for contravening the Clean
Air Act. The EPA and environmental groups finalized a consent decree in January
2022 that sets deadlines for the agency to approve or disapprove the "good
neighbor" provisions of interstate ozone plans of dozens of states. Relevant to
the Registrants, the EPA must, by April 30, 2022, propose to approve or
disapprove the interstate ozone SIPs of Alabama, Iowa, Maryland, Michigan,
Minnesota, New York, Ohio, Pennsylvania, Texas, West Virginia and Wisconsin. On
February 22, 2022, the EPA published a series of proposed decisions to
disapprove the SIPs for interstate ozone transport of 19 states. Relevant to the
Registrants, these states include Alabama, Maryland, Michigan, Minnesota, New
York, Ohio, West Virginia and Wisconsin. The EPA also proposed to approve Iowa's
SIP after re-analyzing the state's data. The EPA must finalize the proposed
rules by December 15, 2022. In addition, the EPA must, by December 15, 2022,
approve or disapprove the interstate plans of Arizona, California, Nevada and
Wyoming. On April 15, 2022, the EPA issued its final rule approving Iowa's SIP
as meeting the good neighbor provisions for the 2015 ozone standard. On May 24,
2022, the EPA disapproved the Utah and Wyoming interstate ozone SIPs. Until the
EPA takes final action consistent with this decree, additional impacts to the
relevant Registrants cannot be determined.
Separately, on March 28, 2022, the EPA proposed determinations as to whether
certain areas have achieved levels of ground-level ozone pollution that meet the
2008 and 2015 ozone NAAQS. Relevant to the Registrants, the Southern Wasatch
Front in Utah and Yuma, Arizona are proposed to have met the 2015 ozone
standard; and the Cincinnati area of Ohio and Kentucky and the Northern Wasatch
Front in Utah are proposed to have not met the 2015 ozone, will be reclassified
as Moderate Non-Attainment, and will have until August 3, 2024 to meet the
standard. Until the EPA takes final action on the proposal and the affected
states submit any required SIPs, the relevant Registrants cannot determine the
impacts of the proposed rule.

Interstate Air Pollution Rule

The EPA promulgated an initial rule in March 2005 to reduce emissions of NOx and
SO2, precursors of ozone and particulate matter, from down-wind sources in the
eastern U.S., including Iowa, to reduce emissions by implementing a plan based
on a market-based cap-and-trade system, emissions reductions, or both. After
numerous appeals, the CSAPR was promulgated to address interstate transport of
SO2 and NOx emissions in 27 eastern and Midwestern states.

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The first phase of the rule was implemented January 1, 2015. In November 2015,
the EPA released a proposed rule that would further reduce NOx emissions in
2017. The final "CSAPR Update Rule" was published in the Federal Register in
October 2016 and required additional reductions in NOx emissions beginning in
May 2017. On December 6, 2018, the EPA finalized a rule to close out the CSAPR,
having determined that the CSAPR Update Rule for the 2008 ozone NAAQS fully
addressed Clean Air Act interstate transport obligations of 20 eastern states.
The EPA determined that 2023 is an appropriate future analytic year to evaluate
remaining good neighbor obligations and that there will be no remaining
nonattainment or maintenance receptors with respect to the 2008 ozone NAAQS in
the eastern U.S. in that year. Accordingly, the 20 CSAPR Update-affected states
would not contribute significantly to nonattainment in, or interfere with
maintenance of, any other state with regard to the 2008 ozone NAAQS. Both the
CSAPR Update and the CSAPR Close-Out rules were challenged in the D.C. Circuit.
The D.C. Circuit ruled September 13, 2019, that because the EPA allowed upwind
states to continue to significantly contribute to downwind air quality problems
beyond statutory deadlines, the CSAPR Update Rule provided only a partial remedy
that did not fully address interstate ozone transport, and remanded the CSAPR
Update Rule back to the EPA. The D.C. Circuit issued an opinion October 1, 2019,
finding that because the CSAPR Close-Out Rule relied on the same faulty
reasoning as the CSAPR Update Rule, the CSAPR Close-Out Rule must be vacated. On
October 15, 2020, the EPA proposed to tighten caps on emissions of NOx from
generating facilities in 12 states in the CSAPR trading program in response to
the D.C. Circuit's decision to vacate the CSAPR Update Rule. The rule is
intended to fully resolve 21 upwind states' remaining good neighbor obligations
under the 2008 ozone NAAQS. Additional emissions reductions are required at
generating facilities in 12 states, including Illinois; the EPA predicts that
emissions from the remaining nine states, including Iowa and Texas, will not
significantly contribute to downwind states' ability to attain or maintain the
ozone standard. The EPA accepted comment on the proposal through December 15,
2020. On March 15, 2021, the EPA finalized the Revised CSAPR Update Rule largely
as proposed. Significant new compliance obligations are not anticipated as a
result of the rule. In June 2021, a new lawsuit was filed that challenges the
Revised CSAPR Update Rule. Litigation is ongoing in the D.C. Circuit Court.
Until litigation is exhausted, the relevant Registrants cannot determine whether
additional action may be required.

In March 2022, the EPA released its Good Neighbor Rule, which contains proposed
revisions to the CSAPR framework and is intended to address ozone transport for
the 2015 ozone NAAQS. The rule focuses on reductions of NOx, precursors to ozone
formation and covers 26 states. Relevant to the Registrants, four states are
included in the cross-state program for the first time - California, Nevada,
Utah and Wyoming. Iowa is not included in the proposal. In a separate but
related action in February 2022, the EPA proposed to approve the good neighbor
provisions of Iowa's SIP addressing ozone transport and the 2015 ozone standard.
The EPA proposes to retain emissions allowance trading for generating
facilities. Beginning in 2023, emissions budgets would be set at the level of
reductions achievable through immediately available measures such as
consistently operating existing emissions controls. Starting in 2026, emissions
budgets would be set at levels achievable by the installation of SCR controls at
certain generating facilities. The proposal also includes additional industries
beyond the power sector for the first time, with a focus on the top NOx emitting
stationary source categories. These include natural gas pipeline compressor
stations, pulp and paper mills, cement production, iron and steel boilers and
furnaces, glass furnaces, chemical manufacturing and petroleum and coal product
manufacturing. These sources will not have access to trading and will instead be
subject to rate-based limits that are assigned for each source category. The EPA
accepted comments on the proposal through June 21, 2022. Until the EPA takes
final action consistent with this decree, impacts to the relevant Registrants
cannot be determined.

Regional Haze

The EPA's Regional Haze Rule, finalized in 1999, requires states to develop and
implement plans to improve visibility in designated federally protected areas
("Class I areas"). Some of PacifiCorp's coal-fueled generating facilities in
Utah, Wyoming, Arizona and Colorado and certain of Nevada Power's and Sierra
Pacific's fossil-fueled generating facilities are subject to the Clean Air
Visibility Rules. In accordance with the federal requirements, states are
required to submit SIPs that address emissions from sources subject to BART
requirements and demonstrate progress towards achieving natural visibility
requirements in Class I areas by 2064.

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The state of Utah issued a regional haze SIP requiring the installation of SO2,
NOx and particulate matter controls on Hunter Units 1 and 2 and Huntington
Units 1 and 2. In December 2012, the EPA approved the SO2 portion of the Utah
regional haze SIP and disapproved the NOx and particulate matter portions.
Subsequently, the Utah Division of Air Quality completed an alternative BART
analysis for Hunter Units 1 and 2 and Huntington Units 1 and 2. In January 2016,
the EPA published two alternative proposals to either approve the Utah SIP as
written or reject the Utah SIP relating to NOx controls and require the
installation of SCR equipment at Hunter Units 1 and 2 and Huntington Units 1 and
2 within five years. The EPA's final action on the Utah regional haze SIP was
effective August 4, 2016. The EPA approved in part and disapproved in part the
Utah regional haze SIP and issued a FIP requiring the installation of SCR
equipment at Hunter Units 1 and 2 and Huntington Units 1 and 2 within five years
of the effective date of the rule. PacifiCorp and other parties filed requests
with the EPA to reconsider and stay that decision, as well as filed motions for
stay and petitions for review with the Tenth Circuit Court of Appeals ("Tenth
Circuit") asking the court to overturn the EPA's actions. In July 2017, the EPA
issued a letter indicating it would reconsider its FIP decision. In light of the
EPA's grant of reconsideration and the EPA's position in the litigation, the
Tenth Circuit held the litigation in abeyance and imposed a stay of the
compliance obligations of the FIP for the number of days the stay is in effect
while the EPA conducts its reconsideration process. To support the
reconsideration, PacifiCorp undertook additional air quality modeling using the
Comprehensive Air Quality Model with Extensions dispersion model. On January 14,
2019, the state of Utah submitted a SIP revision to the EPA, which includes the
updated modeling information and additional analysis. On June 24, 2019, the Utah
Air Quality Board unanimously voted to approve the Utah regional haze
SIP revision, which incorporates a BART alternative into Utah's regional haze
SIP. The BART alternative makes the shutdown of PacifiCorp's Carbon generating
facility enforceable under the SIP and removes the requirement to install SCR
equipment on Hunter Units 1 and 2 and Huntington Units 1 and 2. The Utah
Division of Air Quality submitted the SIP revision to the EPA for approval at
the end of 2019. In January 2020, the EPA published its proposed approval of the
Utah Regional Haze SIP Alternative, which makes the shutdown of the Carbon
generating facility federally enforceable and adopts as BART the existing NOx
controls and emission limits on the Hunter and Huntington generating facilities.
The proposed approval withdraws the FIP requirements to install SCR equipment on
Hunter Units 1 and 2 and Huntington Units 1 and 2. The EPA released the final
rule approving the Utah Regional Haze SIP Alternative on October 28, 2020. With
the approval, the EPA also finalized its withdrawal of the FIP requirements for
the Hunter and Huntington generating facilities. The Utah Regional Haze SIP
Alternative took effect December 28, 2020. As a result of these actions, the
Tenth Circuit dismissed the Utah regional haze petitions on January 11, 2021. On
January 19, 2021, Heal Utah, National Parks Conservation Association, Sierra
Club and Utah Physicians for a Healthy Environment filed a petition for review
of the Utah Regional Haze SIP Alternative in the Tenth Circuit. PacifiCorp and
the state of Utah moved to intervene in the litigation. After review of the rule
by the Biden administration, the EPA determined it would defend the rule, and
briefing has been completed. A date for oral arguments has not been scheduled.
The Utah Air Quality Board approved the Utah Division of Air Quality's SIP for
the regional haze second planning period on June 6, 2022. The SIP sets
mass-based NOx emissions limits and rate-based SO2 limits for PacifiCorp's
Hunter and Huntington generating facilities to ensure reasonable visibility
progress for the second planning period.

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The state of Wyoming issued two regional haze SIPs requiring the installation of
SO2, NOx and particulate matter controls on certain PacifiCorp coal-fueled
generating facilities in Wyoming. The EPA approved the SO2 SIP in December 2012
and the EPA's approval was upheld on appeal by the Tenth Circuit in
October 2014. In addition, the EPA initially proposed in June 2012 to disapprove
portions of the NOx and particulate matter SIP and instead issue a FIP. The EPA
withdrew its initial proposed actions on the NOx and particulate matter SIP and
the proposed FIP, published a re-proposed rule in June 2013, and finalized its
determination in January 2014, which aligns more closely with the SIP proposed
by the state of Wyoming. The EPA's final action on the Wyoming SIP approved the
state's plan to have PacifiCorp install low-NOx burners at Naughton Units 1 and
2, SCR controls at Naughton Unit 3 by December 2014, SCR controls at Jim Bridger
Units 1 through 4 between 2015 and 2022, and low-NOx burners at Dave Johnston
Unit 4. The EPA disapproved a portion of the Wyoming SIP and issued a FIP for
Dave Johnston Unit 3, where it required the installation of SCR controls by 2019
or, in lieu of installing SCR controls, a commitment to shut down Dave Johnston
Unit 3 by 2027, its currently approved depreciable life. The EPA also
disapproved a portion of the Wyoming SIP and issued a FIP for the Wyodak
coal-fueled generating facility, requiring the installation of SCR controls
within five years (i.e., by 2019). The EPA action became final on March 3, 2014.
PacifiCorp filed an appeal of the EPA's final action on Wyodak in March 2014.
The state of Wyoming also filed an appeal of the EPA's final action, as did the
Powder River Basin Resource Council, National Parks Conservation Association and
Sierra Club. In September 2014, the Tenth Circuit issued a stay of the March
2019 compliance deadline for Wyodak, pending further action by the Tenth Circuit
in the appeal. The EPA, U.S. Department of Justice, state of Wyoming and
PacifiCorp executed a settlement agreement December 16, 2020, removing the
requirement to install SCR in lieu of monthly and annual NOx emissions limits.
The settlement agreement was subject to a comment period which ended July 6,
2021. The EPA did not give final approval to the settlement agreement and
parties were unable to reach an agreement through mediation. The abatement on
litigation was lifted September 28, 2022, and opening briefs are due October 28,
2022. PacifiCorp objects to the EPA's FIP requiring SCR on the Wyodak Unit. That
requirement in the agency's plan remains stayed by the court. PacifiCorp has
also intervened on behalf of the EPA against claims that Units 1 and 2 at the
Naughton generating facility should have been subject to a SCR requirement. On
February 5, 2019, PacifiCorp submitted a reasonable progress reassessment permit
application and reasonable progress determination for Jim Bridger Units 1 and 2,
seeking a rescission of the December 2017 permit requiring the installation of
SCR, to be replaced with a permit imposing plant-wide emission limits to achieve
better modeled visibility, fewer overall environmental impacts and lower costs
of compliance. In May 2020, the Wyoming Air Quality Division issued a permit
approving PacifiCorp's monthly and annual NOx and SO2 emission limits on the
four Jim Bridger units and submitted a regional haze SIP revision to the EPA.
The revised SIP would grant approval of PacifiCorp's Jim Bridger reasonable
progress reassessment application and incorporates PacifiCorp's proposed
emission limits in lieu of the requirement to install SCR systems on Jim Bridger
Units 1 and 2. On December 27, 2021, Wyoming's governor issued an emergency
suspension order under Section 110(g) of the Clean Air Act, allowing the
operation of Jim Bridger Unit 2 through April 30, 2022, while the state, the EPA
and PacifiCorp continue settlement discussions. On January 18, 2022, the EPA
proposed to reject the SIP revisions. The EPA took comment on the proposal
through February 17, 2022. On February 14, 2022, the First Judicial District
Court for the State of Wyoming entered a consent decree reached between the
state of Wyoming and PacifiCorp under Sections 201 and 209(a) of the Wyoming
Environmental Quality Act, resolving claims of threatened violations of the
Clean Air Act, the Wyoming Environmental Quality Act and the Wyoming Air Quality
Standards and Regulations at the Jim Bridger facility. No penalties were imposed
under the consent decree. Consistent with the terms and conditions of the
consent decree and as forecasted in PacifiCorp's 2021 IRP, PacifiCorp must
convert both units to natural gas and begin meeting emissions limits consistent
with that conversion by January 1, 2024. In addition, PacifiCorp must propose an
RFP by January 1, 2023, for carbon capture technology at Jim Bridger Units 3 and
4. Wyoming issued its proposed implementation plan for second planning period
reasonable progress on February 18, 2022 and accepted comments through March 23,
2022. The EPA and PacifiCorp executed an administrative order on consent June 9,
2022, covering compliance for Jim Bridger Units 1 and 2 under the regional haze
rule. The federal order contains the same emission and operating limits as the
Wyoming consent decree and adds federal approval of the compliance pathway
outlined in the state consent decree, including revision of the SIP to include
conversion of Jim Bridger Units 1 and 2 to natural gas. The order includes a
one-year deadline to complete the SIP revision. The proposed SIP revision
reflecting these agreements is currently being evaluated under parallel
processes by the state of Wyoming and the EPA. The Wyoming Department of
Environmental Quality submitted the Jim Bridger Units 1 and 2 proposed SIP
revision to federal land managers for a 60-day consultation on June 7, 2022.
Wyoming held a public hearing for the Bridger gas conversion SIP revision on
September 14, 2022, and accepted public comments on the plan through September
20, 2022. For the second round of regional haze planning, Wyoming determined
that no controls will be necessary on any Wyoming resources to make reasonable
progress.

In February 2022, NV Energy received 30-day notice letters from the Nevada
Division of Environmental Protection regarding the reopening and revision of the
Valmy and Tracy Generating Station's Title V air quality operating permits to
add federally enforceable retirement dates of December 31, 2028 for Valmy Units
1 and 2 and December 31, 2031 for Tracy Unit 4. The enforceable retirement dates
will implement Nevada's SIP for the regional haze second planning period. The
revised permits were received in March and April 2022. The Nevada Division of
Environmental Protection accepted public comment on its SIP through July 25,
2022.

                                       49
--------------------------------------------------------------------------------

Nevada, Utah and Wyoming each submitted regional haze SIPs for second planning
period to the EPA in August 2022. The EPA has 18 months to approve or disapprove
all or parts of the states' plans. On August 25, 2022, the EPA promulgated a
finding of failure to submit a SIP for the regional haze second planning period
for 15 states, including Iowa. The finding establishes a two-year deadline for
the agency to promulgate FIPs to address the requirements, unless prior to
promulgating a FIP, the state submits, and the agency approves, a SIP meeting
the requirements. The finding says the agency intends to continue to work with
states in developing approvable SIP submittals in a timely manner. The Iowa
Department of Natural Resources continues to work with the EPA on development of
its SIP. Iowa anticipates submitting a final plan to the EPA in spring 2023.

Critical accounting estimates

Certain accounting measurements require management to make estimates and
judgments concerning transactions that will be settled several years in the
future. Amounts recognized on the Consolidated Financial Statements based on
such estimates involve numerous assumptions subject to varying and potentially
significant degrees of judgment and uncertainty and will likely change in the
future as additional information becomes available. Estimates are used for, but
not limited to, the accounting for the effects of certain types of regulation,
impairment of goodwill and long-lived assets, pension and other postretirement
benefits, income taxes and revenue recognition - unbilled revenue. For
additional discussion of the Company's critical accounting estimates, see Item 7
of the Company's Annual Report on Form 10-K for the year ended December 31,
2021. There have been no significant changes in the Company's assumptions
regarding critical accounting estimates since December 31, 2021.

                                       50
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                        PacifiCorp and its subsidiaries
                         Consolidated Financial Section

                                       51
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                                     PART I

Item 1. Financial Statements

© Edgar Online, source Previews

The ADJD warns against the risks of unbridled borrowing

November 6, 2022

Montana Lending

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The Abu Dhabi Judicial Department (ADJD) has warned of the dangers of excessive borrowing and its negative effects on the individual, family and society, in terms of psychological, social or economic pressures that can cause the collapse and disintegration of the family unit and lead to serious misconduct, highlighting the importance of good management of financial resources and establishing spending plans commensurate with income.

Advice against uncontrolled borrowing was given at a credit risk awareness conference, organized by the ADJD in coordination with Majalis Abu Dhabi of the Citizens and Community Affairs Office of the Presidential Court, within the framework of the “Majalesna” initiative, in accordance with the directives of His Highness Sheikh Mansur bin Zayed Al NahyanDeputy Prime Minister, Minister of the Presidential Court and Chairman of the Judiciary Department of Abu Dhabi, to promote awareness and spread legal culture among various segments of society so as to promote the maintenance of security and stability.

dr. Turki Al-Qahtanisenior family counselor at the ADJD, reviewed during its sensitization conference hosted by the Majlis Suhail Shaheen Al-Mararin Khalifa City, Abu Dhabi, the effects of reckless borrowing or lending for unnecessary uses, and stressed the importance of rationalizing expenditures to avoid the risks of unsustainable credits which can lead to a spiral of negative repercussions and impact on social stability.

dr. Al Qahtani also explained that social stability depends on the ability to meet basic needs in terms of goods and services, and that the economic dimension has a clear impact on the perception of security and psychological stability, in addition to securing aspects related to health for the family and meeting all the needs of its members, which involves consolidating a culture of savings, efficient management of financial resources and the adoption of rational spending habits.

-Ends-

IRS chief investigator details recent Montana convictions

November 4, 2022

Montana Loans

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Missoula, Montana (News KGVO-AM) – The Internal Revenue Service’s Criminal Investigations Division just released its 2022 annual report, and Andy Tsui, Special Agent in Charge of the IRS’ Denver Criminal Investigations Field Office, spoke to KGVO News about specific cases. related to Montana.

Tsui referred to the 2022 annual report with impressive numbers.

The lesson here is “Don’t mess with the IRS”

“Our annual report is out, and it highlights our past year very well,” Agent Tsui began. “One of the highlights that we want to tell everyone is that we have identified almost $27 billion in financial crimes. Of that amount, there is $5.7 billion in tax evasion that we have identified and referred 1,837 cases for prosecution in the last fiscal year.

Tsui said his office also has extensive experience investigating fraud in the area of ​​COVID relief for businesses.

“Not everyone knows how involved we are in Cares Act fraud, also known as COVID fraud, especially the type of payroll, like PPP loans,” he said. . investigations have been initiated, we have worked on a number, even in the Montana area. It’s an area we’re happy to talk about because that impact is quite significant, and our ability to work on those cases has contributed to a number of successful prosecutions.

The agent specified a case of tax evasion on Bozeman

Specific to Montana, Tsui referenced the case against Melissa Horner, a Bozeman woman who was sentenced to 2½ years in prison and paid $2,878,522 in restitution for failing to pay employment taxes. for his business.

“In Montana, I will note an employment tax case that we recently worked on. And this is the Melissa Horner case. The employment tax case, although it is a tax crime. often payroll information is not sent to the IRS or Social Security. So we have a lot of taxpayers who don’t get credit for the wages they’ve earned. So we’re successful in prosecuting this case, which resulted in just over $2.8 million in restitution to the IRS and we can get a two and a half year prison sentence for Miss Horner.

The Whitefish case was about bogus “clandestine operations”

Matthew Marshall of Whitefish was sentenced to 6 years in prison and 3 years on probation for wire fraud, money laundering and tax evasion. Tsui provided more details.

“The Marshal case was more of an investment fraud type case where Marshall may have solicited money from individuals to help fund or what he claimed to have entered into which makes an interesting case of” supposed clandestine operations’, when in fact the money went to his personal expenses, travel and lavish spending. Marshall was sentenced to six years in prison, three years on probation and $2.3 million in restitution, then just under $900,000 in restitution to the IRS for failing to report that income. .

Click here to read the full report.

Most Expensive Airbnb in Western Montana

  1. Entire villa available on Airbnb
  2. Near Superior, Montana

10 Incredibly Boring Towns To Avoid In Montana

Not all towns in Montana are as glamorous as one might expect. So we’ve compiled a list of the most boring towns you should avoid while vacationing or traveling in Montana.

Wyoming, New Mexico and Colorado flex strong rainy day funds amid economic concerns

November 4, 2022

Montana Economy

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Rainy Day Funds are accounts that states draw on during unexpected economic downturns, such as the COVID-19 pandemic. Many states could run government operations on these funds alone longer than ever before due to higher-than-expected tax revenue growth and historic federal assistance over the past two years. according to an analysis by Pew Charitable Trusts.

In total, states estimated their combined savings would reach a record $136.5 billion at the end of fiscal year 2022, according to Pew, citing preliminary figures reported to the National Association of State Budget Officers between March and May. of this year.

Those savings alone could allow states to run government operations for a national median of 42.5 days, which is also a new record, according to the analysis.

Wyoming leads the nation by a wide margin. The Cowboy State has nearly a year – 350 days – of cash in reserve. New Mexico, ranked fourth, is one of four other states with more than 100 days of operating costs at 100.8.

The other Mountain West states above the national median are seventh-ranked Colorado (81.7) and ninth-ranked Idaho (76.3). Utah (36.5), Arizona (27.2), Nevada (26.7) and Montana (16.0) round out the region.

Justin Theal of Pew, co-author of the report, said policymakers now face growing challenges that will squeeze budgets.

“Like a weakening economy, especially as the [federal government] trying to control historically high inflation,” Theal said. “But also better-known concerns for state budgets, like the expiration of much federal COVID aid.”

Theal said that means states with significant rainy day funds are better prepared for a looming recession.

This story was produced by the Mountain West News Bureau, a collaboration between Wyoming Public Media, Boise State Public Radio in Idaho, KUNR in Nevada, the O’Connor Center for the Rocky Mountain West in Montana, KUNC in the Colorado, KUNM in New Mexico, with support from affiliate stations throughout the region. Funding for the Mountain West News Bureau is provided in part by the public broadcasting company.

Post Courier MiBank Launches Farmer Loan Product

November 3, 2022

Montana Lending

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BY RITA PEKI

MiBank in Mt Hagen has launched an agricultural loan product allowing farmers to obtain loans to develop their agricultural activities.

The launch of the loan scheme under the Market for Village Farmers (MVF) project took place outside the MiBank branch in Mt Hagen on Tuesday.

MiBank Chief Credit Officer Wayne Honeyselt said the project aims to facilitate access for farming households and other value chain actors to affordable and diversified financial services, including basic credit services, savings, insurance and funds transfer through innovative and digital distribution channels.

“The objective of the project is to improve the livelihoods of village farming households in selected provinces by facilitating the transition from semi-subsistence agriculture to market-oriented production and commercial agriculture,” said said Mr. Honeyselt.

“At MiBank, we recognize that village farmers should have adequate access to credit to enable them to play a more active role in economic development. We are therefore prepared to consider providing loan facilities to farmers who would not normally be able to provide collateral of the type or amount that financial institutions would otherwise require.

“We are delighted to launch this farmer loan product in Mt Hagen Western Highlands, a province well known for the quality of its fresh produce.

He said the loan product will be made available at their 16 branches nationwide, however, the focus will be on the Western Highlands and other select provinces that are considered part of the food bowl in PNG. .

Mr Honeyselt said the MiBank farmer loan will allow farmers to access finance based on their track record of selling crops to local produce buyers.

“We are convinced that this access to credit will enable farmers to increase crop yields and quality through the purchase of seeds, fertilizers, solar equipment, machinery, water tanks, etc. , so the result will be better financial gains, improved living standards, and financial independence,” he said.

Status Check – Flathead Beacon

November 2, 2022

Montana Economy

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Housing inflation in the Flathead began to drop precipitously. The pandemic buying spree of the past few years has inflated the price of starter homes in places like Columbia Falls and Whitefish so far beyond local wages that workers have lost the opportunity to buy a slice of Flathead while rents have become outrageously expensive.

With federal interest rates skyrocketing 3 percentage points six-month and winter on the way, the inventory of homes for sale is expected to rise. Prices may once again move closer to affordability for some residents previously shut out of the market, while higher mortgage rates drive others away.

The state is discussing how best to increase the supply of starter homes in Montana’s urban centers. On their table are controversial proposals to impose increased housing density at the city level, planning that is usually left to local scrutiny.

Not surprisingly, the state legislature aims for local control. They did so last year, blocking the Whitefish Affordable Housing Ordinances which took years to grow locally in partnership with downtown businesses and the local Chamber of Commerce.

The state’s preemption over local control targeted municipalities, school boards, universities, and health workers throughout Montana. The Legislature has demonstrated its contempt by targeting women’s health care, disease vaccines, hospitals, worker housing, local transportation funding and school boards.

The 2021 legislature has spent far more time debating how to discriminate against transgender children than mitigating the rapid increase in property taxes for homeowners due to pandemic-era land grabs that devoured Montana.

Montana, in recent legislative sessions, has neglected to reduce the rapidly rising effects of semi-annual property reassessments that have inflated tax bills in growth areas. The inflation that homeowners and downtown businesses are seeing on property tax bills is directly related to the continued inaction of distracted politicians in Helena.

Most of the problems facing our cities and our families could be alleviated with good political will. Yet because voters routinely prefer the most ardent far-right politicians to represent grassroots needs in Helena, we are more likely to lose local control of subdivisions, see more bottlenecks in the valley and reject the ever-increasing property taxes of the state’s shifting priorities.

The solution is to vote for more moderate residents in the state capitol. Helena’s single-party control hasn’t worked well for our hometowns. High-density housing and transportation planning is better coordinated with local input. Not all subdivisions are suitable and Columbia Falls is not Missoula.

Great places like Columbia Falls, Kalispell and Whitefish have invested decades of community time and taxpayer dollars to build livable places.

If the electorate sends politicians to Helena to undermine local control, future public hearings for high-density housing developments in single-family residential neighborhoods will be short or non-existent.

Holding politicians accountable starts at the polls. Unless moderate voters choose politicians for the Legislative Assembly who can partner with local towns, the outcome of the four-month New Year’s session will be huge losses for local control. Politicians should deliver solutions in partnership with local cities, not more unfunded state government mandates.

Anyone who walks, bikes or drives in the valley can attest that federal transportation funding and local planning are essential elements for growth. Our economy and our jobs remain intertwined in our local towns. Our municipalities remain key economic partners in Montana’s growth and success.

In all my years working in Helena with fellow legislators from across our great state, the solutions that have worked and moved all Montanans forward have always been found in the middle of politics, a place where affiliation with a party had little to do with our prosperity.

Some prefer to shout about issues that matter little to Montana, but real solutions to the daily challenges facing families and society make more sense when our state and our nation work hand-in-hand with local government.

Unions win order against MultiCare payroll deductions

November 1, 2022

Montana Mortgages

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Seattle—On October 14, a King County Superior Court judge issued an order that MultiCare cannot deduct money from workers who have been temporarily overpaid without the express consent of the individual employee. The alleged overpayments were related to a prolonged outage of the employer’s timekeeping system.

SEIU Healthcare 1199NW, UFCW 3000 and the Washington State Nurses Association filed suit against MultiCare after the healthcare system announced it had overpaid workers and would recover the overpayments by deducting amounts from their choice of subsequent paychecks without the worker’s authorization. The unions argued that the law did not allow MultiCare to do this. The court agreed with the unions and MultiCare was ordered to stop deductions unless it had an agreement with the individual member.

The Washington State Nurses Association, SEIU Healthcare 1199NW, and UFCW 3000 filed a temporary restraining order (TRO) in March to stop the MultiCare Health System from garnishing wages without employee consent to recover alleged overpayments during as the case progressed through the court system. .

This legal victory will make all the difference for dozens of workers who were facing drastic holds on their checks. It would have meant not being able to pay rent or mortgage or keep food on the table if MultiCare had been allowed to make the deductions.

These legal actions aim to ensure that employees have a fair, transparent and collaborative process for establishing reimbursement plans, including the ability to challenge MultiCare’s accounting and have a say in their reimbursement plans. individual. Under federal labor law, MultiCare must negotiate with unions to ensure a fair process for any reimbursement.

CONTEXT

In December 2021, timing software provider Kronos was hit by a ransomware attack, shutting down the system for many employers who use it. While Kronos was offline, MultiCare chose to duplicate the employees’ last accurate timesheet for payroll purposes.

Employees continued to track hours separately outside of Kronos, but paychecks for four pay periods were based on the first pay period in December.

MultiCare knew from the start that this would lead to inaccurate paychecks during the outage, as the hours of healthcare workers vary, sometimes significantly, from week to week. Notably, the shutdown period covered the worst months of the Omicron surge, during which employees saw their schedules significantly disrupted.

After Kronos reinstated, MultiCare announced it would begin deducting up to $500 per paycheck without employee consent starting March 18. MultiCare gave workers a March 9 deadline to apply for other payment plans, but did not offer an option for reimbursement by any means other than paycheck. deductions, and the lowest amount offered was 10% of the amount allegedly owed per pay period. At the same time, MultiCare did not provide transparent accounting for its claimed overpayments (or underpayments), and many workers reported inaccuracies in the accounting provided to them.


About the WSNA

WSNA is the leading voice and advocate for nurses in Washington State, providing representation, education, and resources that enable nurses to reach their full professional potential and focus on patient care. The WSNA represents more than 18,000 registered nurses for collective bargaining who provide care in hospitals, clinics, schools, and community and public health facilities across the state.

About SEIU Healthcare 1199NW

SEIU Healthcare 1199NW is a union of nurses and health care workers with more than 30,000 caregivers in hospitals, clinics, mental health, skilled home care, and hospice programs in Washington State and Montana. SEIU Healthcare 1199NW’s mission is to advocate for quality care and good jobs for all.

About UFCW 3000

UFCW 3000 is the largest union in Washington State with more than 50,000 members in Washington, northeast Oregon and northern Idaho, including 22,000 health care workers in alongside other essential workers in grocery, retail, pharmacy, cannabis, food processing and other industries. Our mission is to build a strong union that fights for economic, political and social justice in our workplaces and communities. Learn more at UFCW3000.org

Montana’s Most Powerful Man

November 1, 2022

Montana Loans

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Montana has certainly had its fair share of wealthy people over the years, but one, in particular, stands out.

William A Clark was born in Pennsylvania in 1839 and made his way west living in Iowa and Colorado before settling here in Montana. Gold is what brought Clark to the area, but it was his stint as a banker at Deer Lodge that kickstarted his journey to becoming one of the Three Copper Kings.

Clark would use his position in the banking industry to regain possession of the mines that had failed, which would be the beginning of the making of not only one of the most powerful men in Montana, but the nation.

It wasn’t just copper mining that made Clark rich, he also owned newspapers, power companies, and railroads. In fact, some say that at the height of his business career, Clark was making $16 million a month from all of his ventures.

Credit: Library of Congress
Credit: Library of Congress

Clark has several homes around the world, but his Copper King’s Mansion in Butte still exists and has become a very popular Bed and Breakfast. The 34-room mansion wasn’t Clark’s only contribution to the town of Butte. He also built Columbia Gardens for the enjoyment of city children.

Columbia Gardens opened in 1899 and closed in 1973. Columbia Gardens was home to an amusement park, beautiful flowers, picnic areas and a beautiful pavilion and was a favorite among Butte and Montana residents for decades. decades.

Credit: Montana Historical Society
Credit: Montana Historical Society

Clark would also serve the people of Montana. Not only did he help make Helena the capital, but he also served as a United States Senator. Clark has also had his fair share of scandals. In fact, he was accused of buying votes to try to get a position to which he allegedly said, “I never bought a man who was not for sale”.

Clark died at the age of 86 at his New York home. At the time of his death, he was worth $300 million, which would be over $4 billion in today’s dollars.

KEEP READING: See the Richest Person in Every State

How Much in America: From Guns to Ghost Towns

Can you guess the number of public schools in the United States? Do you have any idea how many billionaires might reside there? Read on to find out, and learn a thing or two about the cultural significance and legacy of each of these selections along the way.

Chaske Spencer on his new role in English

October 31, 2022

Montana Lending

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Westerns are getting chic again apparently. Proof of this? Well you might just want to check English, a gritty new western series starring Emily Blunt and Chaske Spencer. Written and directed by Hugo Blick, the series is set in the mythical landscape of central America in 1890.

English follows Cornelia Locke (Emily Blunt), an Englishwoman who arrives in the wild new landscape of the West to seek revenge on the man she believes is responsible for her son’s death. By meeting Eli Whipp (Chaske Spencer), a former cavalry scout and a member of the Pawnee nation by birth, they unite and discover a common history that must be defeated at all costs, if either of them is to survive.

For Chaske, this new role is the latest in a long line of endearing characters he has portrayed in television and film. Best known for his portrayal of ‘Sam Uley’ in the Twilght Saga: New Moon, Eclipse and Breaking Dawn I and IIChaske also starred in the Susanna White directed feature Woman Walks Ahead opposite Jessica Chastain and Sam Rockwell.

Chaske Spencer

Hailing from the Lakota Sioux tribe and raised on Indian reservations in Montana and Idaho, the actor has appeared on series such as NBC’s Blind spotby Netflix Jessica Jones and the Amazon series, Sneaky Pete with Bryan Cranston. His credentials as an actor were confirmed earlier this year when he was nominated for the 2022 Independent Spirit Awards for “Best Supporting Actor” for his work in wild indian.

He is now expanding his repertoire in Englishwhich is due out in November 2022. He is also working hard to lend his presence to the upcoming Disney + Marvel Series Echo, which is slated to premiere in the summer of 2023. With an impressive list of projects, Chaske Spencer is definitely one of Hollywood’s newest talents. In this exclusive interview with AugustManthe actor reveals more about his role in Englishhis upcoming projects and his passion for theater and photography.

Can you tell us more about your character in English?

I play Eli Whipp, a Pawnee Scout who’s been freed and on his way back to reclaim some of his old land. He then meets Emily Blunt’s character, Cornelia, and they both head for the horizon with both adventure and revenge in mind.

What attracted your interest in this project?

Hugo Blick’s writing immediately attracted me to this project. From the witty banter to the clever character development, the entire storyline is masterful.

You star alongside Emily Blunt in this new series; can you share what were your favorite scenes together?

Without giving anything away, I can say that I really enjoyed filming the compass scene with Emily, because it was an incredibly special moment for the characters. I really hope everyone has as much fun watching it as we had making this project.

English is a pure western. Are we witnessing a kind of revival of the genre?

Renewal ? Maybe. I feel like every ten years or so the genre comes back. When Westerns are done well, they form the basis of some of the best storylines on television and in film.

As an actor, how does it feel to represent your culture on screen?

I don’t think playing Eli Whipp was any different than any other role I’ve played when it comes to representing culture. However, again, the writing supports the tone so incredibly well, it was a huge bonus.

You’ve had many roles in franchises like The Twilight Saga and also serious thrillers like wild indian. What motivates you as an actor?

I enjoy a wide variety of experiences as an actor. Walking for a while in someone else’s shoes while playing a role is a fascinating experience. Through each role, I came away with a different perspective on life and that’s incredibly special to me. I like to come back to what I have learned each time.

Chaske Spencer English
Chaske Spencer and Emily Blunt direct The English for Amazon Prime/BBC

How did it feel to be nominated for the 2022 Independent Spirit Awards for ‘Best Supporting Actor’ for your role in wild indian?

It was an honor! I also had a wonderful time at the ceremony, I am grateful to everyone who helped support me on this journey.

You also appear in Echo. This isn’t the first time you’ve been involved with a Marvel project, what’s it like to be involved with another superhero series?

It feels good! I can’t wait for audiences to see Alaqua Cox as Echo. She will kill the role. I feel very lucky to be part of the project and had a great time recently seeing everyone together for this at D23.

Your roles have been quite varied. What roles or characters interest you personally?

I like characters that are furthest from who I really am. It’s harder and I gain so much more experience that way. I look forward to discovering more variety as my career progresses.

Beyond comedy, we understand that you also have a passion for photography. What interests you the most in this medium?

I love all forms of art. The expression of emotion and the reflection of thought when creating something is such a gift. When it comes to choosing photography as a medium, I guess I was too impatient to be a painter. I loved the instant gratification!

Can you share with us your other passions beyond comedy?

Acting really takes up most of my life. When I have time, I have the chance to do photography.

(Photos: Emily Assiran)

50 years after the Clean Water Act, more needs to be done to protect Montana’s waterways – Daily Montanan

October 30, 2022

Montana Economy

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The Clean Water Act turned 50 on October 18. Over the past five decades it has proven to be one of the most successful environmental laws on the books. It has cleaned up contaminated waterways, helped ensure the drinking water coming out of your tap is safe for your children, and protected the ecological integrity of rivers and streams.

Indeed, without the Clean Water Act, Montana would not be the state it is today. But much more needs to be done for us to achieve the promise of the Clean Water Act – which is to prevent, reduce and eliminate pollution in our waters.

In arid Montana, water is our most important and limited natural resource. Every aspect of our lives is linked and dependent on access to clean and adequate water. Our tribes, communities and families depend on clean water for our environment, health, economy, spiritual well-being and recreation. Whether you’re a rancher in Miles City, a restaurant worker in Kalispell, a mom in Laurel, or an outfitter in Dillon, you need clean water every day. Clean water is also essential for land and water life, livestock, crops and ecosystems as a whole. With this in mind, you would think Montana’s leaders would value and prioritize the protection and enhancement of our water resources. Unfortunately, that was not the case.

Our state government was granted the authority to implement the Clean Water Act by delegation from the United States Environmental Protection Agency to the Montana Department of Environmental Quality. In principle, local management of our water resources through a responsible public body makes sense. In practice, the DEQ has been deprived of the resources necessary to fully implement even some of the most basic clean water protections, such as proper water quality monitoring, development of reduction plans pollution and sufficient (and legal) pollution discharge permits.

The Montana Legislature oversees funding and resources for the Montana DEQ. It also passes state laws necessary to implement the Clean Water Act. Instead of defending the values ​​of fishable, swimmable and drinkable water, the legislature has instead worked to race to the bottom to meet the bare minimum of water quality standards under Clean Water. Act, and nothing more (and sometimes less). Over the past few decades, a myriad of bills have been introduced that would have weakened water protections and led to more pollution in our waters. Last year, the Legislature considered bills that would have allowed more selenium pollution in our water (failed in committee); weakened standards for nutrient pollution from industrial operations such as mining and municipal treatment plants, which suffocate aquatic life (enacted by Governor Gianforte); and allowed more subdivision pollution, which harms ground and surface water quality for everyone and everything downstream (Gianforte’s veto).

If the idea of ​​weakening water quality protections were put to a vote by the people of Montana, it would fail overwhelmingly. But these legislative proposals often come at the behest of a few vested interests with dollars at stake who have an outsized influence on the process.

The economic benefits of clean water are undervalued. Numerous studies have shown the enormous economic benefits of preventing pollution and maintaining clean waterways, rather than managing pollution and attempting to clean up after the water has been irreparably polluted. Additionally, many of Montana’s major industries, including agriculture and tourism, require clean water. Clean water protection is simply the cost of doing business.

Whether you’re dipping your toes in the Yellowstone River, letting your cows dip their noses in the Milk River, or casting a fishing lure in Flathead Lake, the water has to be clean. The last thing Montana needs is to weaken existing water protections. Instead, we should have the foresight and wisdom to protect this resource for this generation and future generations. Let’s hope the Montana Legislature and Governor Gianforte recognize this important reality and set a new tone by prioritizing the protection of water quality, so that the next 50 years are a success for Montana’s water and everything that depends on it.

Derf Johnson is the Deputy Director of Montana Environmental Information Centera nonpartisan, nonprofit conservationist dedicated to ensuring clean air and water for future generations of Montana.

How to Avoid the Marriage Tax Penalty

October 29, 2022

Montana Mortgages

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SmartAsset: what is the wedding penalty tax and how to avoid it

Marriage is what brings us together, but with marital duties come legal and financial responsibilities. This includes taxes, and more specifically, a potential marriage tax penalty. This means that as a married couple you end up paying more tax than you would if you were filing separately. Below, we review what the marriage penalty tax is, what it could mean for you, and how you can avoid it.

You can also work with a financial adviser who may be able to prepare your finances for possible unexpected costs or possibly reduce your potential tax bill.

What is a marriage penalty tax?

A marriage penalty tax occurs when a married couple incurs a higher tax rate when filing jointly than they would if filing separately. The reason for this penalty is that state and federal tax brackets do not always double single income rates for married couples filing jointly. This happens especially among middle to high income people who earn similar amounts of money.

The Tax Cuts and Jobs Act 2017 changed the brackets to reduce the penalty. However, you can still pay a penalty marriage tax if you and your partner earn more than $647,850 on your 2022 taxes.

Where this penalty is more prevalent is on state taxes and they are not all alike. 15 states have some form of marriage penalty built into their tax bracket structure, with only certain brackets incurring the penalty. As of 2022, these states are:

  • California

  • Georgia

  • Maryland

  • Minnesota

  • New Jersey

  • New Mexico

  • New York

  • North Dakota

  • Ohio

  • Oklahoma

  • Rhode Island

  • Caroline from the south

  • Vermont

  • Virginia

  • Wisconsin

In addition to this, Washington State has a capital gains tax with a threshold of $250,000. This tax is levied on income over $250,000, whether you file a return individually or jointly.

What is a marriage tax bonus?

A marriage tax premium occurs primarily in households where one person earns most, if not all, of the income. By filing jointly, they are entitled to a lower tax bracket than they would if they were single filers. This bonus is the reverse scenario of a marriage tax penalty.

For example, suppose you and your spouse jointly filed income of $110,000 for 2021, which puts you in the 22% tax bracket. $90,000 of that amount was your income. If you were a single filer with $90,000, you would be in the next highest tax bracket, at 24%.

What a marriage tax penalty could mean for you

SmartAsset: what is the wedding penalty tax and how to avoid it

SmartAsset: what is the wedding penalty tax and how to avoid it

Let’s take a specific example to show you how much a marriage tax penalty could cost you. To keep things more universal, we’ll use federal tax brackets, even though they only apply to the highest income bracket. For this example, assume that you and your spouse earn a joint income of $1,000,000 in 2021.

Using our federal income tax calculator, you can see that $1,000,000 translates to approximately $297,236 in federal taxes (not including deductions). Assume $500,000 of this amount is your income and $500,000 is your spouse’s. If you weren’t married and single, the estimated total tax burden would be $290,304, a difference of almost $7,000.

In a state like New York, you could be charged 6.85% with a joint deposit of $323,201 or more. The single deposit limit for this tranche is $215,400. If you and your future spouse earn $200,000 each, you can expect to be increased by a slice when you get married.

How to Avoid the Marriage Tax Penalty

As the old saying goes, there are two certainties in life: death and taxes (but not always death tax). Unlike death, taxes can often be avoided or offset. As noted above, there are only 15 states that have such a penalty in their state taxes with no way to avoid it besides relocating.

Seven other states, as well as Washington DC, have a marriage penalty built into their tax brackets, but allow married couples to file the same return separately. These include:

  • Arkansas

  • Delaware

  • Iowa

  • Mississippi

  • Missouri

  • Montana

  • West Virginia

You cannot avoid the marriage penalty by filing separate returns. This will usually cost you more in taxes. So if you’re in a state where you would incur a marriage penalty and you can’t avoid it, the best thing you can do is compensate for it. You may want to start by looking at itemized deductions. You can usually deduct things like mortgage interest and incidental expenses to reduce your tax bill. If you have any questions, you should contact a financial adviser.

Other tax consequences of marriage

In addition to the marriage tax penalty, couples should consider other tax consequences of marriage, especially if they earn comparable incomes. Any tax bracket, rebate, or refund that does not double the income limits when moving from single filing to joint filing may be subject to this. For example, the Medicare tax increases for single filers to $200,001 and for joint filers to $250,000. A married couple would bear this additional tax much more quickly. It’s important to work with a tax professional if you’re worried about the extra amount you might pay in taxes each year.

The essential

SmartAsset: what is the wedding penalty tax and how to avoid it

SmartAsset: what is the wedding penalty tax and how to avoid it

The Tax Cuts and Jobs Act of 2017 eliminated the marriage tax penalty on federal income tax for all but the highest earners. Yet the income bracket penalty exists at the state level for 15 states. If you live in one of these states and want to avoid it, you either have to move, which could cost more than the tax, or offset it with deductions. Either way, you’ll end up paying your share of taxes, but you might be able to lower that bill with the right preparation.

Tax Planning Tips

  • Reduce your tax liability by working with a financial advisor. Finding a qualified financial advisor doesn’t have to be difficult. SmartAsset’s free tool connects you with up to three financial advisors who serve your area, and you can interview your advisors at no cost to decide which one is best for you. If you’re ready to find an advisor who can help you reach your financial goalsstart now.

  • Simplify and facilitate your tax return by using an electronic declaration service. TurboTax is one of the most popular tax filing services for a reason: it continues to get high ratings and customers come back to it year after year.

  • The best thing about tax season is getting a refund. See if you’ll get a check or have to pay using SmartAsset’s tax return calculator.

Photo credit: ©iStock.com/FG Trade, ©iStock.com/katleho Seisa, ©iStock.com/whitebalance.oatt

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Vasiliy Lomachenko-Jamaine Ortiz weigh-in results in New York

October 28, 2022

Montana Lending

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Normally stoic in his approach, Vasiliy Lomachenko flashed a bright smile after tipping the scales at 134.6. In what will be his first in-ring appearance since December 21, the Ukrainian was greeted with exuberant and joyful cheers. However, moments earlier, Jamaine Ortiz, his next nemesis and former sparring partner, stood stone-faced as the boos rained down on him.

Yet despite the teasing, the 26-year-old remained unmoved as he checked in at 134 pounds. After sharing the ring with Lomachenko in countless heated training sessions, Ortiz expressed confidence in his ability to hand the former two-time Olympic gold medalist the third loss of his career.

Outside of his familiarity with his star-studded opponent, Ortiz’s confidence stems from his last in-ring appearance.

In what amounted to a career-best performance, Ortiz jumped to the front of the contenders line after his close but clear unanimous decision victory over former champion Jamel Herring. Although his outstanding performance may have brought him to the brink of a world title opportunity, Lomachenko has plans of his own.

After working diligently in the title hunt following his loss to Teofimo Lopez in 2020, Lomachenko picked up back-to-back wins before giving his Ukraine native a helping hand in the ongoing Russian invasion. Now back in the boxing world, the 34-year-old could find himself in trouble for the undisputed lightweight crown against Devin Haney, should he claim victory on Saturday night.

Below are the weights for the full undercard, which airs live on ESPN+ starting at 6:15 p.m. ET.

Robeisy Ramirez (10-1, 6KOs), Gulfport, Fla. via Cienfuegos, Cuba, 125.6 lbs vs. Jose Matias Romero (26-2, 9KOs), Cordoba, Argentina, 127.4 lbs — 10 rounds, featherweight

Nico Ali Walsh (6-0, 5KOs), Las Vegas, 159 lbs vs. Billy Wagner (5-2, 1KO), Great Falls, Montana, 159 lbs—6 rounds, middleweight

Richard Torrez Jr. (3-0, 3KOs), Tulare, Calif., 229.4 lbs vs. Ahmed Hefny (13-2, 5KOs), Brooklyn via Alexandria, Egypt, 218 lbs—6 rounds, heavyweight

Duke Ragan (7-0, 1KOs), Cincinnati, 128 lbs vs Luis Lebron (18-4-1, 11KOs), San Juan, Puerto Rico, 128 lbs—8 rounds, featherweight

Troy Isley (7-0, 4KOs), Alexandria, Va., 159 lbs vs. Quincy LaVallais (14-3-1, 9KOs), Kenner, Louisiana, 157.4 lbs—8 rounds, middleweight

Abdullah Mason (4-0, 3KOs), Cleveland, 135.6 lbs vs. Angel Barrera (4-0, 0KOs), Chicago, 135 lbs—6 rounds, lightweight

Haven Brady Jr. (7-0, 4KOs), Albany, Georgia, 131 lbs vs. Eric Mondragon (7-0-1, 4KOs), Maywood. California, 130.6 lbs – 8 rounds, featherweight

Delante ‘Tiger’ Johnson (5-0, 4KOs), Cleveland, Ohio, 141.4 lbs vs Esteban Garcia (15-1, 7KOs), Brawley, Calif., 139.2 lbs – 6 rounds, middleweight

Ronning and Buchanan discuss MMIW crisis at Western Native Voice debate – Daily Montanan

October 28, 2022

Montana Loans

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Democrat Penny Ronning and Independent Gary Buchanan both agree that law enforcement needs more coordination to address the crisis of missing and murdered Indigenous women and that Indigenous Peoples Day should replace Indigenous Peoples Day. Christopher Colombus.

Congressional candidates vying for votes in Montana’s second district discussed issues ranging from access to health care to criminal justice Thursday in Billings during a debate hosted by Western Native Voice.

Incumbent Republican Matt Rosendale and Libertarian Sam Rankin did not participate in Thursday’s debate.

In his opening statement, Ronning gave land recognition, acknowledging that Billings was built on the homelands and unseeded villages and traditional areas of the Crow, Northern Cheyenne, Sioux and Blackfeet peoples and that this land is part of the watershed of the Elk River.

Buchanan began by commenting on the difference in debate turnout between those on stage and those who were absent.

“Penny and I accepted all the debates we were asked to do,” he said. “Our opponents are not showing up.”

Rosendale is heavily favored to win the district.

In the latest MSU-Billings survey with a margin of error of 5.3%, Rosendale leads the other candidates in the race with 35% of the vote. The poll also found he had an approval rating of nearly 30% for his work to date in Congress and a disapproval rating of 35%.

On how to address disparities in access to health care in Indigenous communities, Ronning said she would call for more funding to improve Indian health services, as well as more training for health professionals on problems specific to rural areas.

Buchanan said during a visit to Fallon County near Baker, there were no full-time medical professionals on staff. He did not specify which facility he visited.

“They use traveling nurses, traveling medical assistants, traveling doctors, and I think the same problem exists on reservations,” he said.

He said medical professionals should be able to repay their student loans through a booking service.

When asked what potential solutions they would have regarding the disproportionate impact of the opioid epidemic on reservations, Ronning said that when talking about addiction, it’s important to also discuss poverty.

“We need to find ways to build collateral, ways to develop banking systems on our reserves. I think those are things that will have a ripple effect in addressing the systemic issues that led to the opioid crisis,” Ronning said.

Buchanan said wherever the drugs come from, the crimes need to be prosecuted more professionally. He said overdoses lead to suicide, and he bragged about participating in suicide marches around the state.

Candidates were asked how they would address the issue of the disproportionate number of missing and murdered Native women in Montana.

Buchanan said he thinks there should be better cooperation between “our own police and sheriff’s departments, and the Bureau of Indian Affairs and the police on the reservation.”

Ronning stood by his experience co-founding the Human Trafficking Task Force in the Yellowstone County area and said better communication between law enforcement and victim services was key.

“One of the most important things we’ve learned through our working group is that we also need to have a common language,” she said.

Asked about disparities in how law enforcement treats missing Native people compared to non-Natives, Ronning said Montana was in the top five for missing Native women in the country, citing a 2018 report . report of the Urban Indian Health Institute.

She cited the importance of data collection as well as police follow-ups on documents and reports. She also suggested hiring more Indigenous police officers.

“We need cultural training within our law enforcement, our jurisdictions and all the different levels of law enforcement, and we need this training at all levels,” said- she declared.

Candidates were asked how they would tackle rising energy costs for Indigenous communities, and both candidates said they were interested in renewable energy.

Buchanan highlighted Calumet Refinery in Great Falls Renewable Diesel Fuel project as well as a new wind farm to be built near Colstrip, after initially calling it a solar farm, to which Ronning corrected him.

“I think there are so many opportunities in Montana to bring in renewable energy,” Ronning said. “That doesn’t mean we’re shutting down coal, oil and gas, and we’re not ready to do that.”

Both candidates said they believed Montana’s election was safe and secure and also supported a National Indigenous Peoples Day instead of Columbus Day.

In Buchanan’s closing statement, he said he would hire a Native American coordinator “to help me figure out what to do.”

“Across our federal government, we have so much work to do, to mend broken treaties, to mend broken promises. And it starts with us. It starts with the two of us on this stage,” Ronning said in his closing statement.

East Jefferson Property Transfers October 5-13, 2022. See List of Home Sales and Others | Home & Garden

October 27, 2022

Montana Mortgages

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Below is a compilation of properties sold in East Jefferson Parish from October 5-13, 2022. Data is compiled from public records.

JEFFERSON IS

Transfers from October 5 to 13

HARAHAN

Cris Laur Ave. 125: McKinley J. Cantrell Jr. to Patrick A. Tobler, $140,000.

Huntly Lane 8441: Pamela Doell, David A. Doell and Pamela Blanchard to Thomas O. Prattini, $207,500.

Place Joseph 7031: Crystal I. Hurley, Justin Ingold and Anna L. Ingold to Janet L. Ingold, gift.

Oak Ave. 501-05: Donna L. Palahang, Nicolle Coombs, Laurie Mecum and Nicolle Cooper to Blaise W. Leblanc, $232,500.

Pepsi St. 5624: Stephen A. Pardo to Terrie Mannina, $381,541.49.

S. Clearview Parkway 832, Unit 625: Svetka I. Anderson to Titan Holdings 1. LLC, $51,876.40.

Stratford Drive 628: Luke J. Caruso and Tori M. Caruso to Anna Dobbins, $323,000.

JEFFERSON

Central Ave. 221: Gail Ouber to Peristyle Residence LLC, gift.

Gelpi Ave. 562: Jay Powers and Christine P. Powers to Byron S. Barrilleaux and Anna BM Barrilleaux, $325,000.

Hyman Drive 626: Fenasci Development LLC to First Rate Renovators LLC, $100,000.

Jefferson Terrace Subdivision, Lot 49, Square 11: Kimberly A. Walker and Michael P. Steely Jr. at Beau Cross, $318,000.

Mallard Drive 144: Marrero Land & Improvement Association Limited to Shemika R. Montana, $69,122.

Markham Ave. 4431: Charles L. Runnels Jr. to Dylon M. Rykosky and Alexandra L. Mahfouz, $365,000.

KENNER

Billyday Ave. 23: Rey M. Olea and Christian D. Olea to Kevin Wu and Song G. Wu, $290,000.

Connecticut Ave. 3537: Elwood G. Bodenheimer Jr. and Mary E. Bodenheimer to Rafid B. Butrus and Ranan Saleem, $250,000.

Filmore Ave. 312: Freddie Allen Sr., Debra Howard, Tyler Gilbert and Taylor Gilbert to Providence Baptist Church of Kenner Inc., $40,000.

Lake Trail Drive 3801: Dorothy Derouen and William K. Althans to Leonard Waguespack Jr. and Mary Exposito, $341,200.

Morningside Park Subdivision, Lot 39, Square 33: Norma L. Hunt to Princess LJ Porter, gift.

Boulevard Roosevelt. 1709: James C. Layerle and Lyndell J. Layerle to Nelson E. Perez Jr. and Lidia N. Perez, $135,000.

St. Peter Street 4416: Derek M. Delatte and Jennifer Delatte to Robert A. Devlin, gift.

St. Blase Drive 4001: Jude M. Sanchez and Jessica S. Sanchez to Alan E. Fos and Taylor R. Fos, $400,000.

St. Julien Drive 1012: Community Loan Servicing LLC to Federal National Mortgage Association, $103,333.34.

Texas Ave. 3220: Katherine L. Lugo and Alejandro Lugo to Ali R. Koksal and Ulkuhan I. Koksal, $299,000.

Toby Lane 5033: John C. Picone to Fitz Properties LLC, $200,000.

California Square Condo: Wilson M. Stann Jr. to Farrukh Ijaz and Sadia F. Ijaz, $118,000.

W. Loyola Drive 4125: Elaine Ancona and Anthony C. Ancona Sr. to Timothy W. Crawford, $90,000.

W. Loyola Drive 3825: Susan Mullen to Mikeisha M. Mitchell and Nicholas B. Jackson, $215,000.

Farmhouse

27th St. 8809: Ryan C. Marcob LLC to Maria D. Garcia, $162,000.

6th St. 3228: 6th Street Properties LLC in Willwoods Community, $3,000,000.

Airline Park Blvd. 1817: Faye F. Richardson to Shannon Osborn, $278,000.

Andrews Ave. 560: Nina P. Lhoste and Terri Puglia to Brian G. Birdsall, $347,500.

Aris Ave. 542: Blake L. Crombie to Minh T. Nguyen, Kimmy N. Do, Tien T. Nguyen and Kimmy ND Nguyen, $692,000.

Arlene St. 5801: Theodore B. Nichols and Cyanthia B. Nichols to Caroline N. Avegno, $10.

Athania Parkway 2705: HTK LLC to Brejan LLC, $480,000.

Berwick St. 2905: Percy Morris and Pearl J. Morris to Brown Dog Construction LLC, $70,000.

Blanke St. 7100: Happy Homes Construction LLC to Jason Donovan, $299,000.

Bore St. 3509-11: Stephanie L. Durel to Dylan J. Durel and Greg J. Durel II, gift.

Burke Drive 4812: Vivian H. Rogers to Matthew Couch, $225,000.

Canal Street Subdivision, Lot 17, Square 29: Rudolph L. Philibert Jr. to Growth & Grace Acquisitions LLC, $250,000.

Canal Street, no further data: Jefferson Parish to Jaime Parellada Jr., $60,900.

Christine St. 6904: Andre L. Nelson Sr. to Anna M. Nelson, gift.

Condon Ave. 1912: Andrew Martin to Gabrielle N. Bezett and Justin L. Meyers, $325,000.

Cypress St. 3928: Teri V. Giles to Larry M. Richard, gift.

804 Division St.: Darlene Redler and Calvin P. Sekinger to 804 Division St LLC, $175,500.

Eastbank Subdivision, Lot 87A, Square 2: Diondra T. Reynaud to Gilma CN Ramos, $45,000.

Elmeer Ave. 1004: Revitalize Property Solutions LLC to Dia Custom Builders LLC, $230,000.

Fay Ave. 713: Michael Faircloth II to Revamp Investments LLC, $165,000.

Fay Ave. 713: Heather L. Dupuy to Michael Faircloth II, gift.

Giuffrias Ave. 2509: Corey Hirstius to Long LLC, $35,000.

Hall Ave. 1404: Sacy L. Collura, Stacy Farina, Barry J. Collura and Stacy F. Lambert to Heather E. Overton, $215,000.

Heaslip Ave. 4221: Shirley JP Mortellaro to Anthony H. Mortellaro Jr., $50,000.

Henican Place 4625: Theresa Vanasselberg to Rachael Brousse and Kristopher M. Cutrell, $595,100.

Henican Place 4825: Gustave A. Seeber III and Cathy Seeber to Staci Caccioppi and David Harrower, $429,000.

Hesper Ave. 1216: Monetta C. Clark to Kyle J. Kelly and Ashley C. Celestin, $327,500.

Hessmer Ave. 4101: Barbara Caldwell to Carlos O. Streber, $90,000.

4502 Hilton Drive: Susan T. Heflin to Dealty Property Solutions LLC, $100.

Homestead Ave. 611: Richard W. Hartsough and Chelsey LB Hartsough to Charles T. Riggs and Kaitlin P. Riggs, $672,000.

Jacqueline Drive 4436: Robert H. Redditt Jr. and Cynthia V. Landry to Brian B. Shollmier, $278,000.

James Drive 4509: Riechelle Massett and Terry J. Roy Jr. to Jaclyn Boyle and Jason A. Boyle, $275,000.

Kawanee St. 5009: Adriana Yetta, Sylvana Yetta, Sylvana Y. Ruggiero, Gina Yetta, Lydia S. Yetta and Maria C. Yetta to Sergio A. Yetta, $125,000.

Lefkoe St. 4401: Helen SL Valenti, Susan P. Mayoral, Paul G. Mayoral and Helen SR Lofaso to Yuan M. Yu and Jia M. Zheng, $520,000.

Lenora St. 4319: Ronald Bonnette to Richard L. Borne and Brian J. Plauche, $136,000.

Lexington Drive 2808-10: John J. Engert and Claire AE Engert to Rose FSJ LLC, $343,000.

Loumor Ave. 2225: Jennie B. Bryant to Joann T. Friedrichs, $595,000.

Condo Lower Pontalba of Old Metairie, Unit 127: Robert J. Bickham Jr. and Elisabeth W. Bickham in Adelaide C. O’Connor, $485,000.

Manson Ave. 1204: Josephina AA Vazquez, Cesar T. Vazquez and Josefina A. Amara to Cajun Gifts LLC, gift.

Marcie St. 5700: Roxanne MG Marchand to Vincent P. Fernando, $318,000.

Marcie St. 6201: Olga Graham and Olga P. Graham Revocable Living Trust to Daniel A. Coe, $87,000.

Marion St. 3723: Leslie Lachin and Willard J. Nolan to Debra K. Terrell and Troy Terrell, $143,700.

Melody Drive 1409: Frank J. Plaia to Michael J. Burst and Vanessa L. Burst, $250,000.

Metairie Hammond Highway 420: John J. Giambelluca to Lilian Ducos and Rafael S. Ducos, $300,000.

Farm Hammond Highway 420, Unit 320: Vernon A. Valentino and Merrick T. Valentino to Innisfree Land Company LLC, $290,550.

Metairie Ridge Nursery, Zander Tract, no further data: Paul A. Laiche Sr. to Patricia Laiche, $260,000.

Minnesota Ave. 2528: Vivian Highstreet, Gerard A. Highstreet, David A. Highstreet and John A. Highstreet to Mohammad U. Farooq, $135,000.

Mulberry Drive 118: Douglas Leonovicz and Angelina Leonovicz to Raymond J. Jeandron Jr. and Mary Jeandron, $2,427,500.

N. Atlanta St. 1021: J&E Properties LLC to Veronica Morales and Miguel A. Reveles, $247,450.

N. Sibley St. 1405: Thomas G. Schilleci to Janine Signorelli, gift.

N. Oak Drive 5837: Samuel Battle to Lydia J. Moll, gift.

Oaklawn Drive 1025: August J. Diecidue to Gina D. Maher and Patrick K. Maher Jr., $210,000.

Oaklawn Drive 513: Nathan Krasnoff to Paul D. Rodrigue, $266,000.

Old Metairie Drive 916: Andrea M. Garcia to Kathleen Garcia, $250,000.

Owning Your Own Subdivision, Lot 29A, Square 11: Charles B. Washington to Equity Trust Company Custodian, $9,018,000.

Phosphor Ave. 1129: Lisa Munster to Allen O. Krake, $142,500.

Pontchartrain Gardens Subdivision D., lot 16, square 43: Marter V. Mendez to Virginia Perez, gift.

Richard St. 7701: Shelby GH Nelson to Alexander J. Galiouras, $118,050.

Richland Ave. 1116: Philip A. Cerminaro to Stacey Besselman, $380,000.

Ridgelake Drive 1200: Elizabeth B. John to David B. John, gift.

Avenue Rivière 1604: Li Y. Dong to Cui J. Zhang, $100.

Ruth St. 5613: St. Matthew United Methodist Church to Dwayne K. Washington Sr. and Treschere J. Washington, $215,000.

Satsuma St. 1913: Elva T. Olivier to Janusz R. Urbanski and Maria KB Urbanski, $305,000.

Sells St. 2612: Misti L. Moreaux to Ryan R. Couget and Deena Couget, $373,000.

Sena Drive 1004: John M. Cressend and Christy C. Cressend to Oster Developers LLC, $350,000.

Sena Drive 514: Kaitlin Palmer and Charles T. Riggs to Emma Schulz and Thomas J. Piglia III, $480,000.

Senac Drive 5036: Ronnie O. Ortiz and Diana H. Ortiz to Francisco N. Bayona Jr. and Theresia K. Bayona, $390,000.

Thirba St. 821: Samantha EP Divincenti to Kaitlyn M. Seiler, $170,000.

Transcontinental Drive 4617: Tamilita T. Schayot to Cheston T. Schayot, don.

Veterans Heights 8. Subdivision, Lot 16A, Square 200: Cirilo Ramirez and Dania GH Ramirez to Wilmer Hernandez and Maria T. Hernandez, donation.

W. Esplanade Ave. 3409: Joseph L. Brocato to Karina Fatova, $250,000.

White St. 3012: Mary E. Palmisano to Bradley M. Gaudet, $388,000.

Whitney Place 2712: Bridget Wells to Cory B. Armand and Mary Armand, $153,000.

Yale Ave. 1613: Jim P. Rousselle and Franziska R. Rousselle to Rony AB Carranza and Jenny V. Carranza, $260,000.

RIVER RIDGE

8606 International Court 8604: International Court LLC to EMN INVS LLC, $205,000.

Hennessey Court 43: Stephanie Coulon to Arc Holdings LLC, $190,000.

Jane Court 10105: George V. Silbernagel III to Lynn J. Silbernagel, gift.

Nelson Drive 200: H&R Real Estate Holdings LLC to Triple Son Properties LLC, $368,000.

MRA Explores Opportunities Under New Definition of Workforce Housing State

October 25, 2022

Montana Lending

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Martin Kidston

(Missoula Current) With a change in state law regarding workforce housing, the Missoula Redevelopment Agency plans to convene a task force with a number of stakeholders to determine how it may apply tax increment funding to certain projects.

The term workforce housing can mean different things to different groups, and cities across the state are wrestling with how to define it. But if MRA can accelerate a new program around these homes using the tax increase as a catapult, it could help spark a new development tool.

“In the last legislative session, a change was made to the definition of infrastructure in the urban renewal section of the law,” said Annie Gorski, deputy director of the MRA. “We’ve been working since the spring to figure out some things.”

Among the questions, Gorski said the MRA is exploring how other cities in the state that use urban renewal districts are approaching redefining workforce housing as a form of infrastructure.

At the same time, MRA met with the city’s housing office, lenders, developers and other stakeholders to understand what the needs are and how a new program could meet while complying with state law.

“If we were to develop policy and program options, specifically a new grant program where we could invest directly in workforce housing, what would be most beneficial? said Gorsky. “Which programs are simple to administer and flexible, knowing that the needs of a small project may be different from those of a large project, and projects for rent and for sale will need a tool that can be flexible to both types of projects.

MRA has a long history of investing in affordable, market-priced housing. Although this investment is not directly earmarked for housing development, it can be used to fund infrastructure needed for development.

More recently, this has included road and infrastructure works in the Scott Street neighborhood, where several housing projects are underway. This direct investment in infrastructure, including utilities, can help reduce costs for the developer, with the savings passed on to the end user.

But the change in state law could allow MRA to invest directly in housing if it is considered infrastructure.

“If it’s a new grant program, it would be a set of guidelines for that grant program if they’re different from the infrastructure program we have now,” Gorski said. “We have ideas and concepts.”

The state of Montana is also working on housing issues, but Missoula may be ahead of the game given MRA’s investment in housing-related infrastructure and the city’s permanent housing policy. The latter was created by former Mayor John Engen several years ago and features a range of goals that have found their way into city operations and budgeting.

“I think it will be something that will go to city council as policy, and we will execute it,” MRA Director Ellen Buchanan said of any future policy recommendations. “But we really need to check that internally. We have an overview of the revenue from tax increases that are available. This must be at the forefront of any new policy.

Pending approval from city management, the MRA plans to establish a task force to formulate all proposed recommendations. The group will likely consist of bond attorneys, stakeholders, developers, housing experts and a member of city council.

“There are a lot of layers here, and a lot of definitions floating around, depending on what entity you’re talking to,” Buchanan said of the new law. “We need the cooperation of the mayor and the president of the city council. We’ll take the idea to them and see if a working group is something they want to do, or if they’d rather we take it on as a board.

MT: The Fed could relax, Boris could backtrack

October 23, 2022

Montana Mortgages

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Friday’s offshore markets produced as many fireworks as we’ve seen on just about any day this year with the mere suggestion that the Fed go another 75 basis points to an additional 50 basis point rate hike. basis in December, causing US equities to rise sharply.

By

Podcast of the day

Preview: Freaky Friday

  • WSJ’s Timiraos Index of 50 basis points from Fed in December inspires stocks, bond rally and USD sell-off
  • BoJ intervention sends USD/JPY down from ¥151.60 to low of ¥146.23
  • Risk reversal on US stocks sends AUD up from 0.6210 to near 0.64
  • UK/GBP markets disrupted by prospect of Boris return, possible postponement of Oct 31 budget
  • Big week ahead: “flash” PMI; new British Prime Minister; CPI AU; ECB, BoC & BoJ; GDP of China in the third quarter?

Friday’s offshore markets produced as many fireworks as we’ve seen on just about any day this year. The mere suggestion that the Fed move from 75 basis points to a gradual 50 basis point rate hike in December produced a strong rally in US equities, a partial reversal of the recent surge in US Treasury yields and a smart reversal of the US dollar, the latter resulting in a jump of nearly two cents in AUD/USD. The BoJ was called upon to act, producing an intraday reversal of over ¥5 in USD/JPY. Earlier on Friday, UK markets were clearly unsettled by the prospect of a phoenix-shaped return of Boris Johnson as UK Prime Minister, as well as a possible postponement of the October 31 budget promised so far due to the (last) Conservative Party leadership race. After the New York close, Moody’s joined the fray (after S&P, Fitch) by putting the UK’s sovereign credit rating on a negative outlook.

At midnight Sydney time (9am NY), “up to date” WSJ Fed Watcher Nick Timiraos tweeted, “Some managers are more keen on calibrating their rate setting to reduce the risk of over-tightening. But they won’t want to ease financial conditions significantly if and when they rise by 50 basis points (instead of 75). This meeting could allow officials to align on the next steps”.

US Treasuries Friday and Weekly

In his next WSJ column, Timiraos wrote, “Federal Reserve officials are heading for another 0.75 percentage point interest rate hike at their Nov. 1-2 meeting and will likely debate then. whether and how to report plans to approve a smaller December increase. “We will have a very in-depth discussion on the pace of tightening at our next meeting,” Fed Governor Christopher Waller said in a speech earlier this month. If officials are eyeing a half-point rate hike in December, they will want to prepare investors for that move in the weeks following their Nov. 1-2 meeting without provoking another sustained rally. One possible solution would be for Fed officials to approve a half-point hike in December, while using their new economic projections to show they could raise rates a bit higher in 2023 than they expected. had planned last month.

Between Timiraos’ Tweet and his following WSJ column, the San Francisco Fed President Marie Daly was quoted Friday, during a lecture at the University of California, Berkeley, as saying, “Now is the time to start planning for resignation.”

The result was that market prices for Fed rate hike on the combined November and December meetings reduced from 144 bp to 136 bp, SPI Futures Contracts jumped over 1%, before extending intraday gains to over 3.5% at the close, while 2-year US Treasury yields fell from a high of 4.63% to 4, 45% at noon New York time (end of the session at 4.47%, 14bps down on the day). The US 10 fell from a new cycle high of 4.335% to 4.215% (down just 1bp at the New York close on Thursday, such was the speed and magnitude of Friday’s selloff). Over the week, the US 10 is 20bp higher vs -2.2bp for the 2, with the 30yr up more than 34bp, which of course will directly fuel a similar rise in 30yr mortgage rates .

Friday and weekly actions

Adding to the excitement was the inevitable instruction from Japanese MoF for BoJ to intervene against USD/JPY , after the pair nearly hit ¥152 (¥151.91 high). This saw USD/JPY fall in the space of over 3 hours to a low of ¥146.23 – a drop similar in size to the BoJ’s last intervention on September 22 (¥145.90 at ¥140.26). We may get an indication of the extent of BoJ USD selling when they release their preliminary estimate of Tuesday’s money market settlements at 6pm JT Monday. Chances are it will be at least as big/bigger than September 22 (~$19B). The precise amounts will not be known until the MoF publishes its monthly statement at the end of October).

Effects Friday & Weekly

Earlier Friday – actually during our day – came the news that Boris Johnson was considering a bid to resurrect his post as Prime Minister (ended ignominiously in July with the furor surrounding his covid restriction offences). With a report from the UK Times that the October 31 budget promised by current Chancellor Jeremy Hunt, the night must be delayed due to the Conservative Party leadership race, The GBP was independently weak on Friday morning in London, GBP/USD dropping from above $1.12 to below $1.11 (low $1.1061). Its subsequent rally above $1.13 was entirely a function of USD weakness, with GBP tying the CHF as the “less strong” G10 currency on Friday amid a drop of around 0, 8% of USD indices.

Ahead of the (currently still scheduled) budget statement on October 31, Britain’s Telegraph reported on Saturday that Chancellor Jeremy Hunt is considering up to £20 billion in tax increases. The report, which does not cite sources, said Hunt may seek to reform capital gains rules and drop a government-funded two-year removal of green levies on energy bills.

Also in the UK, after NY closed on Friday, Moody’s joined earlier S&P and Fitch stocks in revise its outlook on the British sovereign to negative from its hitherto stable Aa3 rating, reflecting “the heightened unpredictability of policy-making amid weaker growth prospects and high inflation…and risks to the affordability of US debt”. UK due to likely higher borrowing and the risk of a lasting weakening of political credibility”.

In contrast to the pound’s modest rally, gains of 2.4% for the S&P500 and 2.3% for the NASDAQ, largely attributed to the WSJ’s Timiraos report, saw AUD rallies almost like the BoJ-backed JPY, up just over 1.5% on the day to hit a high of 0.6393 before closing in NY at $1.6379, its best level since October 10. Positive evidence that as risk sentiment bottoms out, the AUD will be among the biggest beneficiaries of the ensuing USD selloff. The Aussie outperformed the Kiwi on Friday (last +1.25%) but over the week, the NZD was the best performing G10 currencyup 3.4% vs. 2.9% for the AUD.

Goods Friday and Weekly

Coming

  • Along with various potential “known unknowns”, the calendar of “known known” economic events contains many things to keep the market lively this week.
  • Today we get “flash” PMIs from around the world, with European likely to generate the most interest in the market and where Eurozone, German and UK are all down slightly from the already restrictive September readings (below 50).
  • 2pm Monday UK time is the deadline for Britain’s next budding prime ministers to officially declare their candidacy, assuming they have secured the required support of at least 100 Tory MPs. The leadership contest will be resolved no later than Friday by party members (via an online ballot) if more than two MPs are in the running, or earlier in the week, without a ballot, otherwise.
  • Australian Treasurer Jim Chalmers delivers his first budget on Tuesday, which he has already told us about, will have high inflation as the main influence. We will have Germany’s IFO survey (expected down by all accounts) and an important speech from BoE Chief Economist Huw Pill ahead of the next MPC meeting currently scheduled for November 3rd.
  • Wednesday brings Australia’s third quarter CPI report here that headline inflation is up 1.6% in the quarter to 7.0% yoy, from 6.1% in Q2 (also September monthly CPI, seen at 7.1%) , the largest truncated mean nucleus showing an increase of 5.5% against 4.9% (1.5% q/q). the Bank of Canada is expected to rise 75 basis points overnight (77 basis points at Friday’s close).
  • Thursday brings US Q3 GDP (consensus 2.3% saar) and an expected rate hike of 75 basis points from the ECB.
  • Friday brings the BoJ, where economic and inflation forecasts are expected to be updated, but not alongside a policy change. And at some point this week, after China’s NPC concludes, we should get third quarter GDP and September trade and activity numbers. The decision not to publish them while the APN was in progress inevitably fueled the suspicion that they will not make good reading.
  • More than 200 S&P500 companies are reporting this week, including Apple, Microsoft, Alphabet and Amazon.

Market price

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From workforce development to robots? ARPA money goes from worker training to automation – Daily Montanan

October 22, 2022

Montana Loans

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Warren Smeltzer said he oversees the training of about 500 to 600 people a year. It received funding through the American Rescue Plan Act (ARPA) Workforce Training Grants, but last month lawmakers decided to reallocate that money to business automation.

Smeltzer is director of training at the Helena branch of the Workers’ International Union of North America in Montana. He oversees the operation of the training center, sometimes instructor, sometimes toilet cleaner.

“I do a little bit of everything to make the formation work,” Smeltzer told the Daily Montanan.

Last month, American Rescue Plan Act Workforce Training Grant funds totaling $6 million were reassigned by lawmakers from an ARPA advisory panel on business automation lending. The Department of Commerce said the funds were unused, with only $128,000 scattered. Instead of funding workers and laborers, the funds will be funneled into ways for companies to automate or use machines to help boost production.

LIUNA Montana’s operation is funded by contractor contributions, Smeltzer said, and the loss of federal funding will only cost them more.

“I think it’s unfortunate that after nine months they’re going to discontinue the program,” Smeltzer said. “Really, it’s hard to even start something and then start having an impact and do all of that in nine months.”

Concrete pourers looking to change careers to Colstrip workers looking to train in a new industry will not receive training funding that has been allocated under the American Rescue Plan Act.

Smeltzer said it took a long time to decide if it was worth applying for the funds because there was a $3,000 cap per eligible intern. He said sometimes interviewing potential interns can cost upwards of $1,000 if there is a need to travel. He said they had to submit a plan outlining how they would add to the program’s capacity.

Smeltzer said he was not informed of the funding change and initially understood the program to be recurring, with the state accepting applications annually.

He also said that the skills taught in the program do not translate into automation.

“We’re out there stripping asbestos,” he said. “You can use water sprays and stuff like that, but you still have to bag it, that’s something a person is going to do. It really takes away from a person the opportunity to improve their skills or to change profession if she exercises a profession that she is no longer able to exercise.

Smeltzer said the majority of trainees come to him for refresher training, to renew their licenses or change specializations as they get older.

Liane Taylor of the Montana Department of Commerce said at the meeting of ARPA’s Advisory Commission on Economic Transformation and Stabilization and Workforce Development in September that companies are struggling to find employees and that people did not want to work in physically demanding manufacturing jobs.

“So this automation program, using ARPA funds, would help businesses in Montana looking to automate or modernize their existing operations. The program is not designed to reduce the number of jobs, but rather to retain jobs and improve the skills of the existing manufacturing workforce by updating or replacing production equipment,” said Taylor in September.

Commerce Department communications supervisor Anastasia Burton said in an email Wednesday that the Business MT division is working to automate the loan application process. available online At the end of the month.

“Companies that have been in business for at least three years and want to automate their processes would visit our Business MT division website for eligibility and application information,” Burton wrote. “We will announce details in the coming weeks via a press release and on social media.”

Rep. Mary Caferro, D-Helena, said she was one of the negotiators of House Bill 632, which appropriated federal dollars from the American Rescue Plan Act in the state and provided the funds for the training grant program.

“I negotiated in good faith to get that $10 million in manpower training,” she told the Daily Montanan. “Good faith and a handshake, like we do in Montana.”

She said those millions had been “wasted” and called it a “slap in the face,” saying bureaucracy in the process of applying for those funds had resulted in the state “hoarding” the funds, only for the devote to the study of the situation. economy.

“Then they sit down and say, ‘Hmm, nobody’s asking for money,'” she said. government working for the private sector? Obviously that’s a problem.”

She said the $3,000 grant cap was a product of the Gianforte administration, as the commission only produced recommendations.

“It was a clear intention of the legislature that this money be invested in working people,” Caferro said. “And at every turn the administration has failed to invest in the Montanans with that money, and it seems to me that they refuse to make taxpayers’ money work for taxpayers.”

Caferro said one of the targets for the funds is the people of Colstrip, known for the coal mine and coal-fired power plant, retooling their skills to prepare them for a new economy.

She said those funds could already be flowing into the community.

“Cybersecurity is very short-term training and they make $50,000 a year and they can work from anywhere in Montana,” she said, by way of example.

“You can’t automate pipe fitters. You can’t automate iron work, you can’t automate cement finishers. You can’t automate carpenters,” Caferro said. “How will automation help build Montana?”

Electric vehicles and charging stations fuel cybersecurity concerns

October 21, 2022

Montana Lending

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The increase popularity of electric vehicles prompted the Biden Administration to announce that the government would allocate $5 billion to fund the growing demand for electric vehicle charging stations across the country, but these stations can pose an invisible danger.

Check Point Software Technologies’ Pete Nicoletti recommends that manufacturers of all-electric vehicles address a myriad of cybersecurity risks, saying “hackers can affect a large number of electric vehicle chargers at once.”

Nicoletti argues that EV chargers aren’t “hardened” against physical attack and could easily be used in the same way hackers target ATMs to steal data. “Hackers all know that if you can touch it, you can hack it easily.”

GM and Lead Company to Build Coast-to-Coast EV Fast-Charging Network (GM/Fox News)

BMW ACCELERATES PRODUCTION OF ELECTRIC VEHICLES IN SOUTH CAROLINA WITH INVESTMENT OF $1.7B

Electric cars are vulnerable to data breaches and “man-in-the-middle” attacks, as discussed in UN Regulation No. 155. Hackers can steal personal information, open unauthorized files, and gain Internet or physical access to a car’s server.

In the event of a hack, all data held on the backend servers could be lost or compromised. Any easily leaked information about an electric vehicle can allow someone to eavesdrop on communications. Drivers can use data manipulation to falsify the driver’s identity when communicating with toll systems. It also allows someone to change their mileage and driving speed.

A hack of an electric vehicle charging station could cause network hostages to be blackmailed, for example stability issues by starting and stopping charging on many chargers synchronously.

EV charging station

An electric vehicle charging station lights up green in the parking lot of a Ralph’s supermarket. (Photo by FREDERIC J. BROWN/AFP via Getty Images/Getty Images)

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“In addition to knowing what makes an EV charger safe, it is important to understand common attack vectors that can make EV chargers vulnerable. unpatchable security breaches and application and ecosystem vulnerabilities,” said Mike Sheward, a security professional at IoT Particle. “EV chargers must be physically tamper-proof and equipped with the ability to detect energy theft.”

There are ways to mitigate these threats if you are driving an electric vehicle to avoid being the victim of a crime.

Location of the Tesla Supercharger

Electric vehicles (EVs) at a Tesla Supercharger location at a Hilton hotel in Bozeman, Montana, U.S., Wednesday, July 20, 2022. Across Montana’s 147,000 square miles, the state government recently counted 57 charging stations charging, mostly grouped together (Getty Images)

Nicoletti suggests drivers “report any suspicions, use a one-time password when setting up top-up accounts, use two-factor authentication upgrades whenever possible, update your cars and EV code as recommended by the manufacturer, monitor the manufacturer of your EV charging station and those you use in public, use a separate credit card for EV charging to easily monitor transactions and keep update your EV charger code.”

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Sales of electric cars (including all-electric and plug-in hybrids) doubled in 2021 to a new record high of 6.6 million, according to International Energy Agency. There are more electric cars sold each week than in all of 2012. This pattern of growth continues through 2022, alongside growing safety concerns regarding electric vehicles.

Economist says inflation is having a huge effect on Montana residents

October 20, 2022

Montana Economy

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Missoula, MT (KGVO-AM News) – Inflation; it is the nation’s number one problem, both economically and politically, but how did we get to this point where our purchasing power has eroded so dramatically?

KGVO News reached out to Dr. Patrick Barkey, director of the University of Montana’s Bureau of Business and Economic Research, on Thursday for answers.

The government helped spend us in inflation

Barkey started with the Federal Reserve and rampant federal spending during the pandemic.

“You start with the failure of the Federal Reserve to recognize early that inflation was erupting,” Barkey began. “Then we had the lag in the policy response from the Federal Reserve, going from stimulating the economy, which happened during the pandemic, to being neutral to now trying to restrain the economy.”

All that stimulus money added to inflation

Barkey then blamed the Federal Reserve for not acting quickly enough to respond to the soaring rate of inflation.

“The Federal Reserve’s inability to recognize inflation in time to act is certainly part of that, of course,” he said. “What the Federal Reserve should have reacted to a little better was the extraordinary amount of stimulus put into the economy with not just one stimulus bill but actually three, and you could argue that this error still occurs today, as we see the passage of things like the Tipping Act and the so-called Inflation Reduction Act.

Barkey expressed concern about the impact of current inflation on Montana’s current economy.

“When you look at what personal income is, that’s Montana household income after tax, and you adjust that for inflation and you express that on a per capita basis, we’re running to 2022, c It’s something like a 9% decrease in that figure, which is a good measure of the average purchasing power of household income,” he said. “It’s a rate of increase that, very frankly, the economy hasn’t seen since the 1930s.”

Barkey said the labor market and reduced job availability could come into play as the recession drags on.

“The one inflation factor that worries me more than anything is what I would consider to be inflation expectations, particularly in relation to the labor market,” he said. “When you have workers who are starting to see inflation erode their purchasing power and who are demanding as they can be in a tight labor market like the one we have today, and who are demanding increases in higher salary, it is a cost factor. It is something that is very powerful and can be very sustained and difficult to master. »

It may be up to all of us to get our economy back on track

Barkey said a recession and lower consumer spending may be needed before inflation can be brought under control.

“It’s called a drop in spending, and then it reverses,” he said. “Some people call it a recession. It depends on what happens, but it’s definitely a slowing force in the economy and that’s what really matters in getting inflation under control, which is slowing spending and slowing down the economy. .

Listen to Dr. Barkey’s Montana Economic Minutes every weekday on KGVO’s Montana Morning News Show.

24 Closed Missoula Businesses We Wish We Could Bring Back

We asked Missoulians which of their favorite businesses that have shut down would they like to see make a triumphant return. Here’s what they found.

28 Missoula Businesses That Opened, Changed Owners, or Changed Locations

Yes, there were quite a few Missoula businesses that closed in the last two years. But what about the Missoula businesses that have opened?

Research: Rating Action: Moody’s Assigns a Baa2 Rating to NorthWestern’s Senior Unsecured Credit Facility

October 19, 2022

Montana Mortgages

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Moses Lake company hit with $192,000 LI fines, plans appeal

October 18, 2022

Montana Loans

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Following a series of inspections by labor and industry officials, a chemical company in Moses Lake faces a hefty fine.

Two Rivers Terminal LLC, which also has locations in Pasco and Umatilla, was fined $192,620 for the violation.

According Labor and industries, the company was hit with 46 serious violations and 17 general health and safety issues.

The company formulates products for agricultural fertilizers, airport pulp and paper companies and water treatment.

According to LI:

“Inspectors (L&I) found 13 confined space entry rule violations due to workers entering the railcar hoppers. Employees were going into the hoppers to break up and dislodge the ammonium nitrate without appropriate safety precautions.”

They also claimed:

“Inspectors also found employees working on sulfur railcars and trucks without fall protection, and failing to ensure that the power supply to hazardous equipment was turned off and locked out so it could not trip. rekindle.”

LI says the company cooperated with them to resolve these allegations, but the safety issues were too big to ignore.

LI also claims that the company had no site-specific safety programs or training program and did not require employees to use a respirator when working with hazardous chemicals, such as ‘requires LI.

The company appealed the citation and fines. LI did not say whether any of the violations occurred at Pasco or Umatilla.

WATCH: States with the most new small businesses per capita

Groups urge World Bank to ‘dramatically increase’ climate investment and action

October 17, 2022

Montana Lending

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WASHINGTON — Leading organizations presented a 5-point reform plan to World Bank Group leaders calling for a big increase in its financing for climate action. The plan includes increased funding for climate protection and adaptation, support and provision of climate capital to developing countries, shifting billions of dollars from fossil fuel projects to mitigation and adaptation, and the implementation of innovative strategies on a larger scale to deal with the climate crisis.

“As the climate crisis continues to leave traces of destruction on the planet, the World Bank is in a position to alleviate suffering and create opportunity, but only if it scales up its climate action,” said Jake Schmidt, Director main strategy for the international. Climate at the NRDC (Natural Resources Defense Council), which joined others on the 5-point plan. “The World Bank could free up tens of billions of dollars each year if it acted more assertively to fund climate change projects. The need for such financing is great – for clean energy, adaptation, mitigation – and the World Bank is sitting on capital that could make a real difference to people’s lives and livelihoods.

The groups sent their 5-point reform, “Refresh the World Bank Group for Climate Action” to shareholders and World Bank officials, among others.

“IMF and World Bank shareholders must seize the opportunity to dramatically increase the quantity (more dollars) and quality of lending (aligned with Paris, with no exceptions for fossil fuels). These institutions need new modern tools and approaches to help the poorest countries, trapped in debt, access finance after relentless shocks to their economies,” said Claire Healy, Director of E3G US: “There is a winner- a winner if we can increase financing for developing countries to build clean energy systems and adapt to warmer climates.Shareholders must act as shareholders and demand that their equity be better used.

Better climate finance from the WBG (World Bank Group) has an opportunity to help address several challenges the world is facing in efforts to tackle the climate crisis. These reforms could contribute to:

  • Increase global climate finance at a time when additional resources are desperately needed. Climate finance could increase by more than $13 billion per year in 2025 if the WBG’s climate goal is increased to 50% of its overall financing. This amount could be increased by additional tens of billions if the overall financing capacity is increased by the implementation of the reforms identified in the revision of the Capital Adequacy Framework (CAF).
  • Delivering more climate finance for poorer countries that struggle to access climate finance through other channels. Increasing global climate finance could significantly increase the amount of resources available to the world’s poorest countries and people, given the share of this finance that goes to International Development Association (IDA) countries. .
  • Increase funding for adaptation actions. Adaptation financing could increase by more than $5 billion per year if the WBG climate target is increased and by an even larger amount if overall financing capacity is increased;
  • Move the billions of funding that the WBG provides to support fossil fuel projects aimed at climate change mitigation and adaptation. Since the adoption of the Paris Agreement, the WBG has provided more than $14 billion for fossil fuel projects at a time when scarce resources must be directed to helping countries mobilize more renewable energy and energy efficiency, adapt to the impacts of climate change and stimulate other strategies to combat climate change while reducing poverty.
  • Create more opportunities to trigger large-scale, transformative and innovative strategies. Using its financial clout and the tools at its disposal, the WBG could play a leadership role in supporting countries’ energy transitions, large-scale adaptation strategies, market-transforming interventions across multiple jurisdictions, and innovative financing structures that help attract private finance. .

“The World Bank can — and should — be a climate champion, but it has a lot of work to do first,” said Kyle Ash, director of policy at the Bank Information Center. “Some actions it must take to meet its commitment to 100% alignment with Paris by July 1, 2023 include: removing all fossil fuel investments, involving stakeholders in project design , full disclosure of how it calculates climate co-benefits, and a GHG-neutral portfolio.

The five reforms of the “Refresh the World Bank Group for Climate Action” are as follows:

1. Do better on climate finance. At a time when fiscal space is tight on all fronts, the World Bank should increase the quality and quantity of its overall climate finance, while strategically leveraging scarce resources. It should:

  • increase the target share of its climate finance from 35% to 50% by 2025.
  • provide high quality climate finance that respects human rights.

2. Achieve Paris alignment: faster, credible, comprehensive, inclusive and transparent. It is also essential that all World Bank financing – not just that which counts as climate finance – is aligned with global ambitions to keep temperatures to 1.5°C and support efforts to address climate change. impacts of climate change. The World Bank should:

  • Exclude all fossil finance, not just coal and upstream oil and gas, by FY23, except in rare circumstances where credible alternative analysis transparently and robustly demonstrates that carbon reduction needs poverty cannot be met with a renewable energy, energy efficiency or energy storage option and does not create a fossil fuel lock-in. This should also apply to investments that support internal combustion engines.

3. Significantly increase the investment and the quality of its adaptation support. Improving the overall lending capacity and climate finance target would significantly increase the amount of resources for adaptation given that the World Bank is already a major financier of adaptation. The bank must:

  • provide adaptation finance on highly concessional terms, including revising concessional finance eligibility criteria to include a specific exception for climate vulnerability for adaptation projects;
  • mobilize investments for large-scale, locally-led adaptation strategies aligned with national strategies
  • provide more support in the form of technical assistance for adaptation;
  • integrating adaptation into other strategies and sectors.

4. Reform the incentive structure so that management and staff these short-term goals while laying the groundwork for the WBG to become a leader in climate finance for decades to come.

5. Increase the overall lending capacity of the World Bank. Through the implementation of one or a group of recommendations from the “G20 MDB Capital Adequacy Framework (CAF) Review”, the WBG could increase overall lending capacity by tens of billions dollars a year, which could be spent on pressing development needs, including climate change. The overall WBG climate lending capacity should:

  • Be increased by shareholders to release additional tens of billions of global financing capacity
  • Demonstrate leadership to convince other MDBs to implement CAF recommendations.

In addition to the NRDC, others supported the recommendations: E3G, Bank Information Center, AbibiNsroma Foundation, African Coalition on Green Growth, Brighter Green Center for Financial Accountability, India, Center for International Environmental Law (CIEL), Climate Action Network Canada , ECCO, the Italian Think Tank on Climate Change, Emmaus International, Federation of Community Forestry Users, Nepal (FECOFUN), Foreign Policy for America, Fundación Ambiente y Recursos Naturales (FARN) – Argentina, Germanwatch, Global Citizen, Jamaa Resource Initiatives, Pennsylvania Interfaith Power & Light, RMI (Rocky Mountain Institute), Southern Africa Climate Change Coalition, Union of Concerned Scientists and Zimbabwe Climate Change Coalition.

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The NRDC (Natural Resources Defense Council) is an international non-profit environmental organization with over 3 million members and online activists. Since 1970, our lawyers, scientists and other environmental specialists have worked to protect the world’s natural resources, public health and the environment. The NRDC has offices in New York, Washington, DC, Los Angeles, San Francisco, Chicago, Bozeman, MT and Beijing. Visit us at www.nrdc.org and follow us on Twitter @NRDC.

Leader for planet, people and economy

October 17, 2022

Montana Economy

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Kelli Hess

This community has earned a reputation as a leader in sustainability and responsible citizenship, not just across the state, but across the country and beyond. What allows this humble city to achieve programs like the zero waste plan Zero by Fifty or to keep almost a million tons of waste out of the landfill? I believe it is our strong and successful citizens who accept responsibility for the planet, people and the economy.

Through Home ReSource, the Community Sustainability Center of Western Montana, and many other nonprofits, people in our area come together to work for a just, vibrant, and sustainable community.

I am proud to announce that I have accepted the position of Executive Director of Home ReSource. I look forward to joining the team and the vast community of supporters at Home ReSource. Together, we will build on the impactful work of those who served before me – the volunteers and staff who built this organization from the dream of two University of Montana students to the thriving center it is today.

As a born and raised Montanese and lifelong Missoulian, I have been blessed to have served our community through the Missoula Food Bank & Community Center and the Missoula Family YMCA. I am thrilled to lead the efforts to realize our shared vision as a community. We see a sustainable future for Western Montana, where the needs of today are met in a way that preserves the possibilities of tomorrow and inspires the future of our children.

We accelerate the transition to a prosperous and sustainable community by creating systems that inflect the linear take-do-waste economy. As we bend the line, we are creating a circular and inclusive economy where resources are reduced, reused, repaired, reused and recycled. In doing so, we reduce greenhouse gases and the demand on our natural resources, while generating meaningful work opportunities. Planet, people, economy.

I look forward to exploring circular economy concepts with you in the months ahead and am proud to help bring this approach and all it stands for into our collective consciousness. But ask your fifth grader or any child who has become a zero waste ambassador thanks to Home ResSource’s ZWAP! program. These children easily understand the “re” values ​​embedded in the circular economy.

Through ZWAP!, our Fix-it clinics, zero waste system initiatives, youth and adult work programs, and of course our largest program, the Building Materials Reuse Store, Home ReSource is leading the sustainability effort through partnerships with many other non-profit and public organizations. Together, let’s continue to innovate. We can be proud to be at the forefront of systems and activities that protect our planet while honoring the worth of each person and our community as a whole.

I’d love to see you at our event on Friday, October 21: Celebrating ReUse, Building Community Auction. Tickets are available here. If not, rest assured you will hear from me again as we together realize our vision of a bright future.

Kelli Hess is the Executive Director of Home ReSource

When will the new Pasco Aquatic Center open? Find out here

October 14, 2022

Montana Loans

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According to Tri-City Area Business Journal and the city of Pasco, there is a starting “month” for the voter-approved Pasco Aquatic Center.

The new tax will come into force in January 2023

The new tax that was approved by voters to pay for the project will begin in January 2023, a 2/10th percent sales tax that will fund the $40 million facility.

Voters approved it in April, it will likely be located somewhere between Route 68 and Route 100 in the Broadmoor area. When presented to voters, a specific location was not specified.

The tax takes effect in January, and officials say they aim for October 2024 for it to be completed. According to TCAJOBPasco hired former mayor Matt Watkins to help lead and lead the project, based on his community experience.

Some of the hurdles the project still faces, according to TCAJOB, include its final design, state approval and hiring a contractor, to name a few.

About 9 years earlier, a similar proposal for a larger water park that would serve the entire area was defeated due to voters in Kennewick and Richland. Voters in the Pasco area had approved of it.

WATCH: States with the most new small businesses per capita

Missoula County House District 94

October 13, 2022

Montana Lending

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unknown


Thomas France

[email protected]

Political party: Democrat

Date of birth and age: June 15, 1951, age, 71

House: 5900 Thornbird Lane, Missoula, Montana 59808

Occupation: Natural Resources Consultant, State Legislator

Family: My wife is Meg Haenn and we have three adult children, Luke, Sonja and Toni

Education: BA History, University of Montana, JD, Alexander Blewett School of Law, University of Montana

Past employment: Regional Executive Director, National Wildlife Federation

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Political experience: I’m running for my second term in the Montana Legislative Assembly

Amendments: Planned Parenthood Advocates of Montana, Montana Rural Voters, Montana Conservation Voters, Missoula Fire Fighters Local 271, Montana Federation of Public Employees, Montana Sportsmen’s Alliance, Montana AFL-CIO, SMART-Transportation Division (formerly United Transportation Union), Montanans for Choice

1) The Montana Legislature will likely decide what to do with a revenue surplus of over $1 billion. Tell us what you think should be done.

Montana Democrats have advanced a plan to spend the budget surplus that includes significant property tax relief, support for affordable housing programs and investments in child care and mental health services. Some Republican leaders have also acknowledged the need to address property tax relief, the Warm Spring Hospital crisis, and low salaries for state employees and teachers. I will work to advance a bipartisan plan that makes wise investments in the areas most in need and provides property tax relief for Montanese.

2) Should access to abortion remain a right in Montana? Would you allow abortion drugs to be mailed to addresses in Montana?

Under the Montana Constitution, women have the constitutionally protected right to make private medical decisions without interference from the state government, including the right to an abortion or other health decisions. procreation. I strongly support this right as the foundation of personal freedom and will oppose any legislation banning abortion or overthrowing our state constitution. Montana does not have, and should not have, the right to interfere with drugs approved by the Food and Drug Administration and shipped by US mail.

3) Public schools in Montana, especially schools in rural areas, are experiencing a shortage of teachers. What should the state’s response be? Is there a way to staff these public schools?

The shortages of educators in this state, in our cities, towns and rural areas, can be reversed — and it’s not just about low salaries. Our colleges and universities are producing enough educators to staff our schools, but beginning teachers are leaving Montana for better salaries, better support services, and better access to affordable housing and insurance. The Legislature must increase support for local school districts to increase teacher salaries, especially for beginning teachers, and strengthen affordable housing programs for teachers as well as other workers entering the workforce.

4) Montana’s public psychiatric hospital is over budget by $17 million and 45% of its positions are vacant. Four patients died in hospital between October 2021 and February 2022, after which a female patient was seriously injured following an assault by a male patient. The federal government will no longer pay for hospital services. How does the legislature stabilize this hospital and state mental health programs?

The short-term solution, as repeatedly proposed by Democratic lawmakers, is to use some of Montana’s current $1.6 billion surplus to stabilize the workforce by paying competitive wages. The Gianforte administration has not responded to or acted on this proposal, nor has it taken steps to obtain federal recertification and stands to lose millions of additional federal dollars. In the long term, some patients in public psychiatric hospitals would be better served by community placements and we must work towards this goal.

5) Name a problem of your choice and tell us what you are going to do about it.

Housing and property taxes are the biggest issues, and Democrats will seek to encourage affordable housing and provide property tax relief. I am increasingly concerned about attacks on wildlife management and public access. The Gianforte administration diverted hunting license revenue to the Department of Corrections, implemented an unnecessary and costly pheasant restocking program, transferred hunting licenses to private entities, and undermined Habitat Montana and other programs. of access and habitat. I will introduce legislation to end pheasant stocking and use this funding to expand and strengthen our public access and wildlife habitat programs.







Rebecca Mapton

Rebecca Mapton

[email protected] | 406.426.9474

Political party: Republican

Occupation: Mortgage

Family: Married with 4 children

Education: Degrees in business administration/accounting; Certified in Sports Broadcasting and Sports Media and Communication. Licensed loan officer in MT and WA.

Past employment: Mortgage 20+ years

Political experience: First time candidate

1) The Montana Legislature will likely decide what to do with a revenue surplus of over $1 billion. Tell us what you think should be done.

The Montana Legislature will decide what to do with the surplus, and I support working with my colleagues to do what is best for my state and my constituents. Montana faces many problems. The Legislative Assembly must tackle serious mental health issues, affordable housing and ever-rising taxes.

2) Should access to abortion remain a right in Montana? Would you allow abortion drugs to be mailed to addresses in Montana?

The Armstrong decision made abortion a privacy issue in Montana.

3) Public schools in Montana, especially schools in rural areas, are experiencing a shortage of teachers. What should the state’s response be? Is there a way to staff these public schools?

The Montana Legislature passed the TEACH Act in 2021 to help incentivize teacher salaries. We have to deal with the cost of housing and the shortage to keep good teachers in our state.

4) Montana’s public psychiatric hospital is over budget by $17 million and 45% of its positions are vacant. Four patients died in hospital between October 2021 and February 2022, after which a female patient was seriously injured following an assault by a male patient. The federal government will no longer pay for hospital services. How does the legislature stabilize this hospital and state mental health programs?

The status of mental health and mental health institutions will be one of the most important issues we will deal with during the next legislature. We need to build stronger accountability models. We also need to hire more competent and effective managers and mental health professionals.

5) Name a problem of your choice and tell us what you are going to do about it.

I have spoken to many constituents over the past few months in my district, House District 94. My constituents tell me that their main concern is increased property taxes and affordable housing. As a representative, I pledge to work diligently to address these concerns and find solutions.

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Missoula County House District 90

October 13, 2022

Montana Loans

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Gary Marbut

Political party: green party

Occupation: Consultant, author

Family: Married, father, grandfather, great-grandfather

Education: Local, U of M two years, lifetime

Past employment: Structural Firefighter and Advanced Paramedic

Military: US Army, 1966-1969, honorable discharge

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Political experience: 40 years+

Did not answer questions.

Marilyn Marler

[email protected] | 406-544-7189

Political party: Democrat

Date of birth and age: 1971, I’m 51

Occupation: Terroir manager and botanic trainer at UM

Family: Mari David and our many pets

Education: BS UC Davis 1994, MS Biology UM 1997

Past employment: UM 25 years old, private consulting, Military: None

Political experience: 12 years on Missoula City Council, 2 previous terms at Montana House.

Amendments: MT Conservation Voters, MT Sportsmans’ Alliance, Montana Federation of Public Employees, MT AFL-CIO, MT SMART, MT Rural Voters, Planned Parenthood Advocates of Montana

1) The Montana Legislature will likely decide what to do with a revenue surplus of over $1 billion. Tell us what you think should be done.

We should invest it in Montana’s top 4 issues: Labor Housing ($500 million): Increase supply for regular renters and homeowners via low-cost construction loans interest or interest-free; invest in the Montana Affordable Housing Trust Fund. Property tax relief ($250 million); one-time relief combined with ongoing relief based on income level. Last session, the majority of the GOP gave tax cuts to the wealthy, which didn’t help most people. Affordable child care services ($125 million). Establish more suppliers; invest in salary increases to attract/retain educators; develop scholarships. Mental health care ($125 million). Expand emergency beds across Montana; expand access to inpatient and outpatient care; increase Medicaid provider rates; Restore 2017 cuts to community mental health infrastructure.

This approach will improve lives and boost our economy.

2) Should access to abortion remain a right in Montana? Would you allow abortion drugs to be mailed to addresses in Montana?

Yes, abortion should remain legal in Montana, and everyone should have the right to make private medical decisions with their healthcare providers, family, and according to their own religious beliefs. Yes, I would vote to allow abortion drugs to be sent to addresses in Montana. We live in a large state and not everyone is able to travel for health care. If certain medications are deemed appropriate for telehealth and mail, I support health care providers and support confidentiality of medical decisions.

3) Public schools in Montana, especially schools in rural areas, are experiencing a shortage of teachers. What should the state’s response be? Is there a way to staff these public schools?

We should increase teachers’ salaries and ensure that teachers can find and pay for accommodation. If that means investing in housing for teachers in rural areas, then we should. Each community may have slightly different challenges and we should allow local school districts to help identify solutions. Raising wages would be a good first step.

4) Montana’s public psychiatric hospital is over budget by $17 million and 45% of its positions are vacant. Four patients died in hospital between October 2021 and February 2022, after which a female patient was seriously injured following an assault by a male patient. The federal government will no longer pay for hospital services. How does the legislature stabilize this hospital and state mental health programs?

In the short term, we should invest in appropriate staffing levels and reasonable salaries to attract and retain qualified Montana personnel. We can also invest in finding appropriate community placements for Montana patients, but these are not yet widely available. Increasing Medicaid payments to service providers will be necessary in both cases. In the long term, we need to work with health care providers and other employees in Warm Springs and across the state to develop a community network of mental health care facilities (see Question 1). This is a complex problem that has been developing for some time but has reached a crisis level in the past two years. I understand that some of the patients in Warm Springs would be better served when it comes to dementia care, but unfortunately our senior care system is failing in Montana as well. We need to be serious about adequately funding social services, and my constituents have made it clear that they value elder care and mental health care.

5) Name a problem of your choice and tell us what you are going to do about it.

I am committed to preserving wildlife as a public resource and to ensuring that hunting (an important conservation tool) is not limited by class, wealth, or land ownership. I will work to support programs like Block Management and Habitat Montana that provide funding and other support to private landowners working for conservation. I will oppose any effort to privatize wildlife or erode our traditions of public-private cooperation.

Alan Ault, R.

Josiah Hinkle, L

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These 25 small towns are the most ‘vibrant’ in the United States, according to a think tank

October 12, 2022

Montana Economy

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The Los Alamos Laboratory and the City of Los Alamos on June 14, 1999. (photo by Joe Raedle)

America’s micropolitans — or small towns of 10,000 to 50,000 people — faced unique challenges early in the pandemic, but through a “combination of luck and foresight,” some found ways to thrive.

Heartland Forward, a nonpartisan think tank focused on economic growth in the middle of the United States, released its Most Dynamic Micropolitans: 2022 report in September. The researchers said that micropolitans are generally “at a disadvantage compared to metropolitan areas because a smaller workforce results in a less diverse economy.”

But cities with large food producing or processing industries and places with lots of outdoor activities fared better than others. Of the 25 small towns at the top of their list, 12 are in the West Mountain.

Communities that rely heavily on oil and gas face more challenges than those with more diverse industries, the researchers said. Pecos, Texas, for example, fell from No. 1 to No. 4 on the list because oil drilling, its main industry, was unprofitable for several months in 2020. Liberal, Kansas, meanwhile, Also highly dependent on petroleum, but the addition of food production and processing plants, along with the presence of helium and ethanol processing, have kept its economy stronger than other pickups.

READ MORE: Parents can still claim their expanded child tax credit by November 15, 2022 — here’s how

“Overall, shifts in the fortunes of micropolitans dependent on a single industry are reminiscent of the stabilizing benefits of a diversified economy,” the report said.

The researchers used the following metrics to rank micropolitans: growth in average annual salary, number of jobs, and gross domestic product (GDP); level of personal income per capita; share of total employment in enterprises in operation for five years or less (share of employment of young enterprises); and the share of employment in start-ups with a bachelor’s degree or higher (knowledge-intensity of start-ups).

The 25 “most dynamic” micropolitans

GettyImages-161353512.jpg

Old and new forms of transportation share Main Street in downtown Breckenridge. (Photo by Glenn Asakawa/The Denver Post via Getty Images)

The mic that tops this year’s list is Los Alamos, New Mexico, but the reason for that is an outlier, the researchers said. Los Alamos is reaping the benefits of a $2.5 billion government contract with Triad National Security, LLC to operate the Los Alamos National Laboratory. The lab was formed to develop nuclear weapons during World War II, but today it is a hub for a wide range of industries.

“The lab’s highly paid scientists support a vibrant town of approximately 13,000 people nestled in the Jemez Mountains,” the researchers said.

Outside of Los Alamos, Mountain West had the most pickups in the top 25. Twelve of them are in Colorado, Idaho, Montana, Nevada, Utah, or Wyoming.

READ MORE: Watch: Colorado light rail splits in two after derailing; 3 injured

“Mountain West mics provided an outdoors-focused respite from the stresses of COVID-19. When travel restrictions were eased in the second half of 2020, tourists flocked to Jackson Hole, Wyoming; Heber, Utah; Bozeman, Montana; and other small towns on the doorstep of the vast Mountain West wilderness,” researchers said.

READ MORE: ‘We’re driving towards a cliff’: Crisis looms without major cuts to Colorado River

East of the Mississippi River, only three pickups made the top 25. In Brevard, NC, No. 12 on the list, easy access to mountain biking, fly-fishing, hiking, and white-water rafting are big draws in southern Appalachia.

GettyImages-838125952.jpg

Brevard, North Carolina Mountains near Asheville (Photo by: Education Images/Universal Images Group via Getty Images)

Here are the 25 fastest growing micropolitan areas, according to Heartland Forward:

1. Los Alamos, New Mexico
2. Jackson, Wyoming-Idaho
3. Heber, Utah
4. Pecos, Texas
5. Jefferson, Georgia
6. Bozeman, Montana
7. Hailey, Idaho
8. Cedar City, Utah
9. Prineville, Oregon
10. Edwards, Colorado
11. Lake Moses, Washington
12. Brevard, North Carolina
13. Key West, Florida
14. Oak Harbor, WA
15. Breckenridge, Colorado
16. Steamboat Springs, Colorado
17. Sandpoint, Idaho
18. Othello, Washington
19. Gardnerville Ranchos, Nevada
20. Fernley, Nevada
21. Fredericksburg, TX
22. Dodge City, Kansas
23. Fremont, Nebraska
24. Jesup, Georgia
25. Montrose, Colorado

Read the full list here.

Pelican AI partners with Santander Consumer Bank Austria

October 11, 2022

Montana Lending

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By Leandra Monteiro

Today

  • Austria
  • Cross-border payments
  • Digital payments

Pelican AI announced that Santander Consumer Bank Austria extended its partnership with Pelican to use its PaaS (Payments as a Service) solution. The Pelican digital payments hub and integrated sanctions screening solutions will be used to process Target2, domestic SEPA payments and cross-border SWIFT payments on the Pelican cloud.

Pelican’s PaaS solution, based on the Pelican Digital Payments Hub, handles format-neutral and differentiated processing of all payment types and can co-exist and interoperate with legacy technology-based back-office applications, enabling Santander Consumer Bank Austria to retain and extend the life of its existing core systems without making a significant new investment. Importantly, it will also enable the bank to transition to the latest cloud-based payment services and adopt market and regulatory changes on schedule by leveraging payment automation capabilities, format translation , payment enrichment and statement matching powered by Pelican AI. Built-in AI and NLP-based sanctions screening capabilities will deliver intelligent payment screening in full compliance with European and global regulatory requirements.

Pelican AI gives its customers the ability to use a payment hub that is not only compliant, but can also easily adapt to market changes across the EU in an ever-changing payments landscape. Pelican’s SaaS-based solution, used by leading global banks around the world, can unify the bank’s current infrastructure, providing the necessary integration and delivering significant cost savings.

Parth Desai, CEO, Pelican AI said, “With the PaaS solution using Pelican’s Digital Payments Hub, we are enabling banks like Santander Consumer Bank Austria to be more profitable, grow their business and market share, with a faster return on investment for them and their customers. We are confident that our solution will help them continue to grow. We are thrilled to be a part of their continued success.

The Pelican digital payments hub integrates all payment infrastructures and transaction types, including Target2 for high-value payments, TIPS and EBA RT1 for SEPA instant payments, EBA STEP2 for SEPA transfers, SWIFT MT and MX for correspondent banking and open APIs for PSD2 and Open Banking. The solution is message and format independent and supports several out-of-the-box formats such as ISO 20022, SEPA, SWIFT – MT & MX, FED, CHIPS, regional RTGS, faster payment systems and many more . It delivers exceptional levels of efficiency, control and flexibility through a full payment lifecycle for all payment methods and clearing and settlement mechanisms, exception handling and statement matching, covering transformation, routing, repair and reporting services, including configurable dashboards.

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Do Bozeman companies face uncertainty over the lack of quality help?

October 10, 2022

Montana Economy

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In the Dickens Classic A Tale of Two Cities, the most famous quote from the book might just be “it was the best of times, it was the worst of times”.

Some people might say we’re going through the exact same thing here at Bozeman. In fact, in many ways, Bozeman is a tale of two towns. There’s the old Bozeman that so many people remember and love, that old cowboy town where everyone knew each other. Then there’s the new Bozeman that has million dollar condos, $10 cafes, and plenty of people from other places.

For many people, these are the best times. For others, not so much, and that includes a lot of small businesses here in town.

One of the toughest things small businesses in Bozeman are facing right now is the lack of quality employees. A short drive around town and you’ll see several “We’re Hiring” signs and often an hourly wage attached to the sign as well.

In fact, every day on my way home from work, I pass a sign that says “$25 an hour” and another that says “$23 an hour.” Based on 40 hours of work per week, that’s about $50,000 per year. I can tell you that it took many years of doing what I do to earn this much. However, according to several experts, this is not just happening here in Bozeman, it is happening all over the United States.

But why? According to Market Place, they say it’s a combination of reasons.

“Labour economists and researchers say the lack of strong childcare infrastructure, low wages, poor working conditions, and health issues associated with the long COVID could prevent some people from returning to work. Millions of Americans have also retired early over the past two years.”

So what does this mean for small businesses here at Bozeman? Many of these businesses pay significantly more than the national average and still struggle to find employees.

So who do we blame? Young people who “don’t work to work” or Boomers who have all retired? I guess it depends on which generation you ask.

Conceptual showing Bubble Speech with the word We are hiring. Job announcement
Chee Siong Teh

The local argument, of course, will be “It’s expensive to live in Bozeman.” Trust me, I know. My wife and I have a 2 bedroom 1 bath apartment and we play close to 2300 a month. However, how on earth are small businesses supposed to pay their employees enough to live here AND still make a profit? The math just doesn’t match.

I think one of the biggest problems we face is just the changing times. We went from ‘what the boss says’, to ‘yes, I don’t like your vibe right now and I’m going to need a sanity day’. The world of work has completely changed

I can still tell you more. If I was a teenager and could work part-time to earn over $20 working in fast food while in college, I’d be flipping burgers in a heartbeat.

Beware of these 50 jobs that could disappear in the next 50 years

WATCH: States with the most new small businesses per capita

Rosendale accused of opposing Ukrainian aid

October 8, 2022

Montana Loans

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US Representative Matt Rosendale drew criticism during a debate on Thursday night after suggesting Russia’s invasion of Ukraine was President Joe Biden’s fault as Rosendale defended his opposition to aid to the torn country by war.

Challengers Penny Ronning, a Democrat, and Gary Buchanan, an independent, said the incumbent Republican’s stance on the war is an embarrassment to Montana. The debate was hosted and televised by Montana PBS.

Rosendale has repeatedly voted against helping Ukrainians. The question that sparked the conversation was how much US aid was enough.

“First of all, I think it’s really important for everyone to understand that this is a tragic situation, that Russia invaded Ukraine and an unprovoked situation, and that there is, there has a lot of people who lost their lives. And there are a lot of people who have been displaced and forced to leave their country, their home. And we all feel bad for that. Unfortunately, and your number is not even There was $70 billion in aid,” Rosendale said, correcting a moderator who, counting only military aid, summed up the US cost at more than $15 billion.

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“Seventy billion dollars have already been sent to Ukraine, okay, to help in this effort. And as this happens, what we need to do is look back and see what led to this situation. And that’s where consequences come from elections, and where leaders matter,” Rosendale said. “And we had the Keystone XL (pipeline), which was canceled on day one. We saw the Nord Stream II (pipeline) which was canceled soon after, the sanctions we had on that. We have seen President Biden cancel the deal with Iran, resume negotiations with them. And then we saw a terrible, terrible, restless withdrawal from Afghanistan. All of these things are what allowed (Russian President Vladimir) Putin to come in and invade Ukraine. And right now we have 105,000 people who have died in our own country. Last year, because of drug overdoses, the vast majority came from fentanyl. And it all came from Mexico, and for $8 billion. We can secure our own border, and I think that’s what we need to do.

Ronning and Buchanan called US involvement in the war necessary to avert a much larger global crisis.

“Matt’s responses on Ukraine reaffirm why I filed,” Buchanan said. “I think we need to keep funding it to get the job done. On nuclear weapons, I think that’s the scariest part. I remember the previous president, he tried to trash Ukraine. He tried to corrupt Ukraine through his work with (Ukrainian President Volodymyr) Zelenskyy. We must not ransack it or try to corrupt it like the previous administration. We must support them. I think the nuclear weapon must be managed. And I think the military is very careful how this is handled. But the pro-Putin part of the Republican Party allows this guy, Putin, to threaten military weapons. We would have to make a proportionate response. God forbid what that would be. But I think we need to keep a very close diplomatic and military eye on exactly what Putin has planned for the world. »

Ronning accused Rosendale of oversimplifying the war.

“Matt, you really need a history lesson. Do you feel bad about what happened in Ukraine? We all feel bad. Children were tortured. Whole towns were devastated. Men and women have their hands tied behind their backs. And they’ve been tortured and slaughtered. Graves have been uncovered recently. We all feel bad? Ronning said. “No. That’s not how we feel. We feel horrified. We feel mortified. And we feel like we’re not represented. You played blame and never gave an answer to the question. You blamed the Democrats, you blamed Biden. But I think you need to have a history lesson. First, on Keystone XL, Keystone XL was shut down by TransCanada. I think you need to have a history lesson on your votes.

Ronning said the United States should not only help Ukraine, but also help other allies not far from Russia. The United States needed to join forces with its allies and pursue a global response, as a global force, to the Russian invasion.

With mail-in ballots scheduled for October 14, criticism between the candidates has been heightened. Rosendale’s stance on Ukraine has been a sticking point, more than his Jan. 6, 2021, votes for not recognizing election results in several states. The morning before the PBS debate the Washington Post identified Montana as one of four states showing only Republican deniers on the US House ballot.

On the economy, Rosendale placed the causes of inflation directly on federal government spending, even taking a shot at the PPP’s Payroll Protection Program, an injection of fully canceled loans to the days of Trump pumping $1.8 billion into Montana business accounts in 2020.

“The best economists tell us that if the federal government continued to pump revenue into the economy when there was no purchasing power available there, it would drive up inflation rates. And that’s exactly what we’ve seen happen,” Rosendale said. “It’s no mystery. Fortunately, just one of the pieces of legislation passed under Democrat scrutiny over Congress, the Senate and the White House was for $1.9 trillion, which was supposed to have been for the so-called COVID relief Inspector General just came out in the last 30 days and identified $163 billion in waste and fraud, which they can’t even account for The PPP program, they found Another $80 billion in waste and fraud. So combined, you’re dealing with a quarter of a trillion dollars in waste and fraud that was basically fueling the economy. The other big driver of inflation is the price of fuel, we can’t ignore it and the Biden administration has lowered fuel production, crude oil production here nationally, by nearly 2 million barrels a day, we just saw OPEC come out and announce that she was going to reduce ire its production of 2 million barrels per day. But we’ll talk about that later. But our national production being reduced by the same amount, which increases the price of fuel, the cost of fuel affects each product, the freight to deliver these products. And that’s another thing that drives us to inflation, that we have a plan for how to turn the tide once the Republicans take control of Congress.

Buchanan agreed that federal spending was part of the problem, though he noted there were economic improvements, especially in the shipping industry. Billings investment adviser Buchanan said Federal Reserve actions to raise interest rates and slow government spending would work over time.

“A few months ago, actually when we filed, I filed, for the office, inflation was supposed to be transitory. The Fed literally thought it was transitory. Obviously, that’s not Not so. But I support the Fed. Those of us in business in the early 80’s remember what 16-18% (mortgage rates) meant. I met a lady in Wibaux the other night who paid, in those years, 17% for his first mortgage. We can’t go. So the pain right now is something that we really have to go through. It’s very painful for our investment accounts , and for gas and everything else, but we have to avoid the Fed, and I’ll get to the fiscal part in a moment, the Fed has to keep the brakes on so that we don’t fall into a stagflation environment or a period where rates are actually hurting the economy more than we are doing right now. r, I think both sides missed the mark in terms of overspending. I think there are several bills that have overstimulated the economy. I think we are in that period now. And we have to be very careful on the fiscal side, on the spending side, not to make the situation worse. Spending is not the way out of this cycle of inflation.

Ronning described the current economic crisis as dating back to political decisions made in the 1990s.

“It really happened because of the wrong policies, the economic policies of the 1980s and 1990s. When we shipped so many of our jobs to China,” Ronning said. “What we’ve seen during the pandemic is that the Chinese government kept its workers and kept its population indoors and locked down and isolated during the pandemic. And so those workers weren’t making a lot of the products that Americans need. And American manufacturing has to produce the supplies that we We also had a backup in the supply chain. So I think one of the things that Congress can do immediately is to attack that supply chain, we have to start to move these products from China to the United States, where our manufacturing can continue to progress. It also has to be looked at in the long term. The long term is to bring jobs back to the United States. We bring ns blue collar jobs, industrial jobs and manufacturing jobs in the United States and invest in the American workforce and in American productivity.

Latest banking news, October 7, 2022

October 7, 2022

Montana Lending

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Michael Nagle/Photographer: Michael Nagle/Bloo

Usman Naeem announced on Wednesday that he is leaving his role as Group Managing Director of Goldman Sachs to join the institutional arm of Coinbase Global for its derivatives efforts. Naeem will serve as global head of derivatives sales and agency trading at Coinbase, led by Brett Tejpaul, according to a LinkedIn position by Naem. Based in London, he spent eight years at Goldman, most recently in equity derivatives. He also worked at Bank of America Merrill Lynch from 2009 to 2014, according to his LinkedIn profile. A Coinbase spokesperson confirmed the appointment with Bloomberg. Coinbase has been laying the groundwork to expand into derivatives for months. In January, Coinbase announced its acquisition of the FairX futures exchange, which is registered with US regulators. It is awaiting approval for its futures commission license to offer futures contracts directly to US users. In June, Coinbase extended the hiring freeze and dismissed 18% of the workforce as the market downturn worsened. People from major financial companies such as Goldman Sachs, Morgan Stanley and BlackRock, have been among them whose job offers have been canceled by Coinbase. The company has since renewed some hiring, including for its expansion abroad. — Yueqi Yang, Bloomberg News

Asian stock markets fall ahead of US jobs update

October 7, 2022

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By JOE McDONALD – AP Business Writers

BEIJING (AP) — Asian stocks followed Wall Street’s decline on Friday ahead of U.S. jobs data as investors hope to persuade the Federal Reserve to ease plans for an interest rate hike.

Tokyo and Hong Kong, the region’s largest markets, fell. Chinese markets were closed for a holiday. Oil prices changed little.

Wall Street’s benchmark S&P 500 index fell 1% on Thursday after a private sector report said U.S. employers hired slightly more workers than expected in September. That gives ammunition to Fed officials who say more rate hikes are needed to cool the economy and rein in inflation that is at its highest level in four decades.

Investors were awaiting the release of US government data on Friday which is expected to show fewer people being hired compared to previous months. They hope this will help persuade the Fed that the five rate hikes this year are working and that it can scale back its plans for more.

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“What the market seems to be crying out for is a Fed pivot,” ING’s Robert Carnell said in a report. “For its part, the Fed is sticking to its ‘higher for longer’ mantra.”

The Nikkei 225 in Tokyo fell 0.6% to 27,149.75 and Hong Kong’s Hang Seng fell 1% to 17,823.29.

Seoul’s Kospi gained 0.2% to 2,241.87 while Sydney’s S&P ASX 200 lost 0.6% to 6,777.00.

New Zealand lost 0.2% while Singapore and Bangkok rose.

The Fed and central banks around the world are focused on extinguishing inflation that is at multi-decade highs, but investors fear their unusually high and rapid pace of rate hikes could tip the global economy into a tailspin. recession.

On Wall Street, the S&P 500 fell to 3,744.52. The index is up 4.4% for the week after its best two-day rally in 2½ years.

The Dow Jones Industrial Average fell 1.1% to 29,926.94. The Nasdaq composite slipped 0.7% to 11,073.31.

The yield on US government debt, or the difference between the market price and the payment at maturity, has widened. This indicates that traders expect more rate hikes.

The 10-year Treasury yield, which helps set mortgage rates, rose to 3.81% from 3.75% on Wednesday night. The two-year Treasury yield rose to 4.22% from 4.14% on Monday evening.

Strong U.S. hiring is positive for job seekers, but a sign of lasting economic strength, which could lead the Fed to believe more rate hikes are needed.

US government data showed the number of jobless claims hit a four-month high last week. This suggests that the labor market may be cooling.

Forecasters expect the government to report that the economy added 250,000 jobs last month, well below last year’s monthly average of 487,000, but still a strong figure despite inflation and two consecutive quarters of contraction in the US economy.

In energy markets, benchmark U.S. crude rose 2 cents to $88.47 a barrel in electronic trading on the New York Mercantile Exchange. The contract advanced 69 cents on Thursday to $88.45. Brent crude, the price basis for international oil trade, fell 4 cents to $94.38 a barrel in London. It rose $1.05 the previous session to $94.42.

The dollar fell to 144.92 yen from 145.07 yen on Thursday. The euro gained 98.11 cents against 97.94 cents.

Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

Gen-Z Turns to Offsite-Built Housing for Beautiful, Energy-Efficient Property, Shattering Outdated Misperceptions

October 6, 2022

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Company’s consumer insights highlight younger generation’s shift to prefab and modular housing

MARYVILLE, Tenn., October 6, 2022 /PRNewswire/ — According to a new survey by Vanderbilt Mortgage and Finance, Inc.. The survey, conducted by the company’s consumer insights team using data from Statista, explored how potential buyers view off-site built homes, as well as what they are looking for in their homes.

Introducing the Gen-Z generation:

  • Represents people born between 1997 and 2010
  • In 2021, represents 20.6% of the population1.
  • Examine their housing options in ways that differ from previous generations, especially as the average cost of homes is at an all-time high
  • Has a favorable overall impression of off-site built housing – such as prefab housing – compared to other generations

The survey results give Vanderbilt Mortgage – which lends to qualified customers buying a home built offsite – a better understanding of its customers’ wants and needs when it comes to their home. As more Gen-Zs enter the home buying market, this information is integrated into Vanderbilt Mortgage home finances to meet the needs of today’s next generation of home buyers. .

Favorable off-site constructed housing sentiment among Gen Z

Nearly three-quarters of Gen Zers surveyed by Vanderbilt Mortgage in 2021 had a positive impression of offsite built housing. This indicates that Outdated and often incorrect perceptions of offsite built housing are rapidly changing as younger generations discover the quality and affordability of offsite built homes.

The price of a home ranks first on the minds of Gen Z homebuyers. While the median price of site-built homes across United States in July 2022 has been $402,500the average sale price of a new off-site home without land, which varies by region, is approximately $130,000[2]. Overall, Gen-Zers see the many opportunities for off-site built homes with customizable options at affordable prices. Modern, Sleek and Energy Efficient Home Design Options also contributed to the overall positive impression. Vanderbilt Mortgage’s analysis team works hand-in-hand with a design team that sifts through data to suggest home design changes that reflect the needs of future and current homeowners.

“We believe our homes are an ideal way for younger generations to achieve the American Dream of homeownership without sacrificing comfort or style,” said Vanderbilt Mortgage’s director of customer experience. Jason Langston. “Today’s offsite-built homes have a modern aesthetic, are energy efficient, and provide an accessible route to home ownership.”

Sustainability and affordability are top concerns for Gen Z

As Gen Zers struggle financially, especially when it comes to the cost of housing, they also want to invest in eco-friendly choices. For example, the Vanderbilt Mortgage investigation found that they prefer renewable materials and value sustainability. In fact, a builder’s environmental reputation is more important than their business ratings or customer service to the majority of Gen Zers. However, build quality and home prices are more important than environmental reputation.

Gen-Z too was more concerned with replanting the number of trees used in the construction process more than other generations, and that companies Support causes close to their hearts. In 2022, Vanderbilt Mortgage participated in an initiative to plant 2.33 million trees of native species in forests through a partnership with the Arbor Day Foundation and its parent company.

Off-site housing is giving America’s youngest generation hope to realize the dream of homeownership. To learn more about the homes Gen Z are excited about or to start the application process, visit the Vanderbilt Mortgage website.

About Vanderbilt Mortgage and Finance

Vanderbilt Mortgage and Finance, Inc. is a national real estate lender specializing in financing manufactured homes. In business for over 40 years, the company currently services over 200,000 home loans and strives to tailor loans to the needs of each family. For more information, visit www.vmf.com.

ALL LOANS ARE SUBJECT TO CREDIT APPROVAL. Vanderbilt Mortgage and Finance, Inc., and its dba Silverton Mortgage, 500 Alcoa Trail, Maryville, TN 37804, 865-380-3000, NMLS#1561, (http://www.nmlsconsumeraccess.org/), AZ Lic. #BK-0902616, Loans made or arranged under license from California Finance Lenders Law, GA Residential Mortgage (Lic. #6911), MT Lic. #1561, licensed by the NJ Department of Banking and Insurance, licensed by the PA Dept. of Banking, Rhode Island Licensed Lender. Equal opportunity in housing.

1 Data provided by Statista

2 According to the United States Census Bureau

Media Contact:
Caitlyn Crosby
[email protected]

SOURCEVanderbilt Mortgage and Finance, Inc.

People and Property: Real Estate and Construction News Around NH

October 5, 2022

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A groundbreaking ceremony was held Sept. 19 for Dakota Partners’ Friars Court at 6 Dakota Drive, Hudson, which the developer says is the city’s first and only family-friendly affordable housing community. Present at the ceremony are, left to right: Marc Daigle, Dakota Senior/CEO; Roberto Arista, director/president of Dakota; Nate Bondini, Senior Loan Officer, TD Bank; Hudson city planner Brian Groth; Jeremy Vieira, Director of Dakota Development; Kara Roy, President, Hudson Selectboard; Robert Dapice, CEO, NH Housing; Robert Charest of Boston Financial; Stacey Fuller, senior property manager of Maloney Properties; and Sean Donnelly, project manager for Dakota.

Providence, RI-based grocery distributor United Natural Foods Inc. opened a 125,000 square foot refrigerated distribution center in Londonderry. The company, the largest publicly traded wholesale distributor of natural and specialty foods in North America, now operates 57 distribution centers and warehouses nationwide. Londonderry’s location gives it three in New England, joining one in Chesterfield, NH, and another in Dayville, Conn. commercial retailers and food service providers. It is the main supplier of Whole Foods Market, with this channel’s traffic accounting for more than a third of UNFI’s revenue in 2018.

Construction of the northern branch, Concord, recently completed the Dartmouth Graduate Student Housing Project at 401 Mt. Support Rd. in Lebanon. The project comprises four four-storey apartment buildings with a total of 309 one-bedroom, two-bedroom, three-bedroom and four-bedroom apartments. The project, built on 53 acres of pristine land owned by Dartmouth, was developed by Michaels Student Living LLC of Camden, NJ, which owns and manages the community with a long-term ground lease from Dartmouth. JSA inc. of Portsmouth was the architectural design firm and Vanasse Hangen Brustlin of Bedford provided civil and landscape engineering services.

North Branch also recently completed construction of the SIG Sauer Experience Center in Epping, a two-story, 40,500 square foot facility that includes a 6,000 square foot retail showroom, indoor shooting ranges and a high-tech interactive museum-like educational experience. Design-build services were provided by North Branch and Cowan Goudreau Architectsalso from Concorde.

Metro Keller-Williams, Manchester, will hold their 16th annual KW Charity Auction from 5-9pm on Tuesday October 25 at the Derryfield Country Club in Manchester. The event will include live and silent auctions, raffles and door prizes, refreshments and music. Money raised will support several local charities including Big Brothers-Big Sisters of New Hampshire; Boys and Girls Club of Manchester; girls at work; Granite United Way; ROCA Kidz Club; SEE Science Center; and Waypoint New Hampshire. The 2022 KW Charity Auction is sponsored by KW Metro, Guild Mortgage, Blue Water Mortgage Corp., Monarch Title Services, Cohen Closing & Title, Kent Clean Septic, Radius Financial Group and Boufford Insurance Agency.

The Bedford Department of Public Works has received full accreditation from the American Public Works Association. Accreditation formally verifies and acknowledges that the agency is in full compliance with the recommended management practices set out in the APWA Public Works Management Practices Handbook.

Richard Palermo joined Bar Harbor Bank and Trust as Vice President and Mortgage Originator. He has over 15 years of experience in the financial services industry, 12 of which focused on residential lending. Most recently, he worked for Wells Fargo as a senior credit manager before moving into the role of residential mortgage consultant.

Ellen Grohgeneral manager of the Concord Coalition to End Homelessnesswas named the Greater Concord Chamber of Commerce 2022 Citizen of the Year. She will be recognized at the chamber’s 103rd annual meeting and Citizen of the Year award event on Wednesday, November 2 at the Grappone Conference Center in Concord. As leader, Ellen Groh significantly expanded the ability of the Concord Coalition to End Homelessness to provide essential, sometimes life-saving services to homeless people, officials said. It now serves between 250 and 300 people each month, providing everything from coffee to showers, housing, medical supplies, case management and other items and services.

U-Haul Moving and Storage completed the expansion of one of its Nashua locations, adding 600 self-service storage rooms, the company said. The self-storage rooms at 476 Amherst Street are equipped with individual alarms and air conditioning options. The 7.2-acre property now includes a two-story, 76,000-square-foot building with a retail showroom, a warehouse for U-Box portable storage containers and an access bay for the professional hitch installation, according to the company.

Republicans make the case for Central America

October 4, 2022

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MONONGAHELA, Pa.—Whether by design or out of necessity, the decision of House Republican leaders to launch their commitment to America in this river town on the outskirts of Allegheny County was fitting.

There’s no easy way to get here from Pittsburgh, or from the airport, or from our nation’s capital. House Minority Whip Steve Scalise of Louisiana laughed, saying the very purpose of the Pledge to America is to reach the people and places that Congress neglects to the point that it needs a GPS to find them and a dictionary to spell them. The goal for Republicans, he said, is to show up and hear people’s concerns in places like this and engage as a party to find solutions.

Scalise told the Washington Examiner that Republicans want to go to the center of America, to a community that really has to live with the consequences of President Joe Biden’s policies, as well as the legislation presented to Congress by the Democratic House Speaker. Nancy Pelosi. They wanted to do more than just criticize Democrats, he said, they wanted to offer their own solutions.

“You may have heard it from the families who asked questions today, they are struggling under the weight of Biden’s inflation,” he said. “Families are struggling to put food on the table.” He also pointed to the local sheriff, who asked lawmakers what they would do about escalating crime and fentanyl overdoses, in addition to families asking what their solution was to soaring energy prices. .

During a visit from Ductmate Industries, Scalise and House Republican Leader Kevin McCarthy got some lessons in welding and high-tech fabrication. After that, House Republicans held a town hall event, rolling out their agenda for the country. Twenty-eight House members were in attendance as Republican House leaders rolled out their plan to control inflation, secure the southern border and tackle escalating crime in this country.

House Minority Leader Kevin McCarthy (R-Calif.) reviews HVAC products during his tour of DMI businesses in Monongahela, Pa. (Salena Zito)

McCarthy said the plan includes cutting out of control spending, moving supply chains away from China and increasing domestic energy production.

DMI CEO Ray Yeager, who lives in neighboring Washington County, said the western Pennsylvania family business has been in the Mon Valley for nearly 50 years. “We have factories across the United States, but our headquarters are in Charleroi,” he said of the facility down the road in Washington County.

Yeager said it makes sense for Republicans to come here, despite the winding roads and deep dips, you have to navigate whichever direction you’re coming from. “There is a very deep sense of community here, and the people who work here and live here embody everything that is good about the country in terms of work ethic and giving back to the community,” he said. he declares. “I will add that it is the residents of towns like Monongahela who are suffering the most from the effects of inflation, rising energy costs and the fentanyl crisis.”

DMI manufactures accessories primarily for commercial duct systems for the heating, ventilation, and air conditioning (HVAC) industry. More than 400 people worked at the facility last Friday. Many of them told me they had been here for over 10 years, several said for over two decades. Almost all said they lived within 20 minutes of their job or just down the street. Most workers said they acquired their skills for work in a trade school, in workshops or as apprentices.

Scalise said DMI is emblematic of so many other small businesses in America: “They have to live with the consequences of Pelosi’s far-left agenda,” he said. “So when they push the Green New Deal, it crushes American manufacturers who actually have the best environmental standards in the world, and it emboldens countries like China. Because when Pelosi stops manufacturing in America, those jobs don’t just go away, they go to countries like China and India.

Scalise said the left is really good at beating America for doing the work and freeing up the shows, but fails to recognize that Americans are doing it better and with less environmental damage than anyone else in the world. the world. “Frankly, we should be doing more things in America,” he said. “We should be producing more energy in America, not less. It shows that they live in this parallel universe that is detached from the reality of small businesses, hard work and families that make America great.

Monongahela is in the center of Appalachia. It’s the second smallest town in Pennsylvania – a key meeting place during the Whiskey Rebellion and the birthplace of former Indiana Governor Mitch Daniels. It’s also where NFL great Joe Montana learned to throw a football with his father.

During the decades of declining coal and industry, the city lost half its population; the median income hovers around $30,000, with nearly 14% of the population living below the poverty line.

Scalise says inflation hits people the hardest in towns and villages like this. That’s why it’s one of the top priorities House Republicans need to address if they take control of the House in November. “It’s incredibly important for us to listen to the families we represent who are struggling, and then go and bring those concerns back to Washington and pass bills that address their issues,” he said.

The immediate reaction from House Democrats was swift, with House Speaker Nancy Pelosi and all other Democrats immediately calling it an “extreme MAGA agenda.”

“It shows how out of touch she is with average Americans,” Scalise said, “because those are the big complaints I hear when I go to communities across the country. So I don’t know with what group of people she hangs around, but if she thinks it’s extremist to cut inflation and lower energy prices and involve parents more in their children’s education, then maybe she’s so out of touch that it’s time for her to be fired as Speaker of the House I think the country will have its say in November.

In the latest ABC News poll, Republicans are favored by voters heading into the midterm elections to manage inflation, the broader economy and crime; 76% of respondents say inflation is a major problem, 84% say the economy and 69% say crime.

Scalise said that as Republicans, they simply cannot issue a document and not respect it if they win; in fact, he says he expects voters to keep their feet on fire on all of these issues.

“Each of the elements of the Pledge to America represents issues that will be brought before committees and Congress in open view on CSPAN; bills that will eventually come to the House to carry out the articles and the undertaking,” he explained. “We’re going to get these bills through the House, and that’s where public engagement is really important. Because they’re not going anywhere after that if everyone leaves. We need people to then call their senators and demand that their senators pass the bills we will get out of the House to reduce inflation, lower gas prices and secure the border.

That commitment only works if the public stays engaged and holds everyone accountable, Scalise said. “Including Joe Biden, who will have the choice to sign or veto these bills,” he added.

As for convincing Democrats to sign on, the eternal optimist says he’s ready to help make that happen.

“I urge everyone who believes in the great principles of America to vote for these bills and voice their support for the commitment to America,” he said. “It’s going to be a referendum during the election, but also after the election, on what people think of America. Do you want a declining America? Where inflation is just a new standard and where the border does not exist? Or do you want to return to the principles that made this country the greatest nation in the history of the world? It is in danger right now. We can restore it.

The opinions expressed in this article are the opinions of the author and do not necessarily reflect the opinions of The Epoch Times.

Salena Zito

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Salena Zito has had a long and successful career as a national political journalist. Since 1992, she has interviewed every US President and Vice President, as well as key Washington leaders, including Secretaries of State, Speakers of the House, and generals of US Central Command. Her passion, however, is interviewing thousands of people across the country. She reaches the Everyman and Everywoman through the lost art of leather journalism, having traveled the back roads of 49 states.

Did you receive this text? Benton County Fire says it’s a scam!

October 3, 2022

Montana Mortgages

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Benton County Fire Department T-Shirt Scam (Benton County Fire District Media 1-townsquare)

Benton County Fire Department T-Shirt Scam (Benton County Fire District Media 1-townsquare)

As of Monday, October 3, the Pasco Police Department said this same scam was hitting them. But earlier it started with a local fire department.

Benton County Fire District 1 says t-shirt text is a scam.

Did you receive this text? I did, and thought it was a bit phishy. I spelled it that way because phishing is the term used for emails or text messages trying to get a victim to bite into some information. Once they do, the crooks have some of their personal details.

This is a screenshot of the actual text I received on my phone.

Benton County Fire District 1 posted this about texts that many in our area were getting around a $10 t-shirt:

“Benton County #1 Fire District has been alerted that some residents are receiving text messages selling Fire District t-shirts. ! Benton County #1 Fire District is not sending these text messages and warns people not to click on the link if you receive such a message.

Benton County Fire District #1 does not sell t-shirts and is not affiliated with them in any form.”

If you have one, or any of the Pasco texts, don’t click the link. Instead, report it to the appropriate law enforcement agency.

Probably a good idea to remove the text and also block the number. It is quite possible that this is circulating in other public bodies in the region before these scammers have finished “working” our region.

KEEP READING: See the Richest Person in Every State

Eastern District candidates face off in debate in Great Falls – Daily Montanan

October 2, 2022

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Independent congressional candidate Gary Buchanan told incumbent Representative Matt Rosendale that his stance on gun taxation cost him the endorsement of the Montana Sportsman Alliance.

“Even the NRA, Matt, is against you on this,” Buchanan said.

But Republican Rosendale said guns were the “only right we have that is taxed”.

Democrat Penny Ronning also fired the frontrunner, saying Rosendale supports Second Amendment rights but supports ending federal abortion care protections.

The exchange took place Saturday during the Montana Television Network debate in Great Falls. Incumbent Rosendale, former Billings Councilwoman Ronning and investment advisory firm founder Buchanan shared the stage, and congressional candidates from Montana’s Eastern District discussed a wide range of issues, including the Abortion, Student Loan Forgiveness, and Election Integrity.

Libertarian candidate Sam Rankin did not qualify for the debate.

Rosendale is the projected frontrunner in the largely conservative Second District, having swept the primaries and raised money over rivals by a mile.

Abortion

Rosendale parted ways with Ronning and Buchanan on abortion, saying he was glad to see the issue returned to the states to determine in light of the US Supreme Court’s Dobbs v. Jackson decision in June.

When asked if a woman should be able to decide to risk her life for pregnancy, Rosendale said it would be something between a woman and her doctor, but said there were two lives at stake.

“And I think we have to do our best to preserve those two lives,” he said.

Rosendale also endorsed the work of Crisis Pregnancy Centers, which exist in most cases to deter women to choose to have an abortion.

Ronning and Buchanan said it was an issue the government should stay away from, with Buchanan criticizing Senator Lindsay Graham’s bill which ban abortions after 15 weeks. Buchanan said he would vote to codify Roe against Wade, if elected.

Ronning said abortion is health care and men have never been legally responsible for pregnancies.

“There’s just no equality there,” she said. “It’s time we started talking about reproductive equality in a serious way, in a serious conversation.”

Election Integrity

Candidates were asked about the loss of confidence surrounding election processes, after debunked conspiracies around the 2020 election spread across the country and into Montana.

Buchanan said it was a “non-issue” and that President Joe Biden and the Montana Republicans won evenly.

“I have never seen such winners complaining about winning so much,” he said.

Rosendale said it was “extremely important” to maintain control of the election at the state level and cited recent election laws, which included an end to voter registration on Election Day, the use of college-issued voter ID cards and bans on paid ballot collectors, . that he said “ensure the integrity of the elections right here in Montana.”

On Friday, a district court judge ruled those laws unconstitutional.

Ronning said there was a need to reconsider the “fairness doctrine”, which diffusers required to feature balanced coverage of controversial topics, saying the news “has become more about punditry than delivering the news”.

“The real news is that there was no electoral fraud, that our election workers are our neighbors. These are the people we live with in our own community, and it’s time we started to trust our community again,” Ronning said.

Student loans

President Joe Biden announced that up to $20,000 in student loans, per eligible applicant, would be forgiven, in response to the rising cost of education.

Buchanan said he felt the economy was overstimulated and pointed to his tenure as chairman of the Montana banking board in the 1980s.

“We restructured the loans, we worked with the interest rates to save the banks, because that was a very serious point in our economy, and I think that’s the kind of thing you do with the loans. students,” he said. “I don’t believe a couple making $250,000 should be forgiven.”

“To save the banks? Ronning said in response to Buchanan. “What if we saved people? »

Ronning said the government should focus on enabling people to develop equity to get out of debt “because they have gone to school”.

She talked about how the tuition back home foster motherMontana State University, changed rapidly between when she went for her undergraduate degree and her graduate degree.

Rosendale said the loan forgiveness was a “slap in the face” to anyone repaying their loan.

Other issues discussed include Rosendale’s support for the Inalienable Duties Excise Tax Repeal Act, or Act of Return, which would remove the federal excise tax on firearms and ammunition, but would also eliminate more than $1 billion in annual funding for conservation programs and received strong opposition from outdoor groups in the state.

The candidates discussed missing and murdered Indigenous women, where Ronning spoke about his experience co-founding the Yellowstone County Area Human Trafficking Task Force and cited online safety for children as a priority necessary.

The next debate for the Eastern District is scheduled for October 5 and Election Day is November 8.

Cashiers in the West Bank mountains switch gears for a day of caring

October 2, 2022

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STORY AND PHOTO OF KAREN BOSSICK

“Eggs, eggs, eggs,” Julisa Vega mumbled as she scanned the paper order she held in her hand.

Normally, Vega would help a customer deposit a paycheck to Mountain West Bank.

But that day, she and her colleagues were busy filling cans of mangoes, milk, apples, pears, celery, potatoes, soup and corn on the cob for customers at The Hunger. Coalition.











Karla Wicks and Katie Curtiss fill a box with sausage and pasta.





Employees of the Hailey and Ketchum branches of Mountain West Bank volunteered at The Hunger Coalition in Bellevue last week as part of the bank’s 13th annual Day of Caring community service campaign.

Employees had planned to help by gleaning fruit from people’s private orchards, then organizing and distributing the gleaned fruit to Hunger Coalition customers. But the harvest has been slow to come this year, and forecast showers have prompted them to move on to filling food boxes in The Hunger Coalition’s warehouse.

“A lot is happening behind the scenes. I had no idea how fast things are moving and how much food is coming out,” said Sarah Gray, customer service manager for Mountain West Bank.

“It’s my first time here and it’s beautiful,” added Karla Wicks.








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Gustavo Romero is stocking up on onions.





The Hunger Coalition loves having groups like Mountain West lend a hand, said Jennifer Rangel, resource coordinator for the Hunger Coalition. Earlier in the day, a group from the community school had helped clean up the greenhouses, she added.

Mountain West employees smiled as they avoided collisions in their rush to fill the boxes.

“Beep, beep, beep,” one smiled, mimicking the emergency beeps of forklifts.

“It’s quite fun helping people,” said Gustavo Romero, “as he picked up some oranges for his box. “It’s hard at first because you don’t know where everything is, but it feels good to know you’re helping people.”








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Sarah Gray places some corn on the cob in a box.





Mountain West employees help out in a variety of ways over the course of a year, including helping the Kiwanis club and registering guests for Camp Rainbow Gold’s Share Your Heart Ball.

“Anything people need help with,” Gray said. “It’s part of our philosophy, our standard as a bank: to give back to the community. »

“It’s a great way to bond with your teammates outside of work. It brings you closer and you do something good,” Vega said.

Giving back to the community has long been a priority for Ketchum native Susan “Sooz” Alfs, who was recently promoted from her role as Ketchum branch manager to vice president of the bank.








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The pace can sometimes get frantic.





In addition to participating in the bank’s annual Day of Caring, she has volunteered at the Sun Valley Wellness Festival and helped raise funds for Wood River Valley Scholarships through the Sun Valley Brewfest. and the Labor Day Duck Race.

She is currently Secretary-Treasurer of the American Legion David Ketchum Post 115 Women’s Auxiliary.

Mountain West, founded in Coeur d’Alene in 1993, operates 22 branches, financial service centers and loan centers in Idaho and eastern Washington. It is a division of Glacier Bank, which operates 223 offices in 143 communities in Idaho, Montana, Utah, Washington, Wyoming, Colorado, Arizona and Nevada.




Montana Real Estate Statistics and Trends for 2023

September 30, 2022

Montana Mortgages

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MONTANA- If you are interested in buying a home in Montana, there are a few things to consider. First, home prices are on the rise in Montana. Over the past year, they have increased by an average of 17.8%. Foreclosure rates in the state are expected to increase in the coming years. The average home price in Montana is now $710,428.


Home prices rose 17.8% year over year to average $710,428 in Montana

Many real estate experts play down their home price growth forecasts, but Zillow, one of the web’s largest websites, recently revised its forecast. It now forecasts house prices to rise 14.9% from March 2022 to March 2023, a slight downward revision from its previous forecast.




Montana’s housing market has cooled since August and the increase in the number of homes on the market is dampening market activity. Meanwhile, home prices in the United States have risen five times faster than incomes. As a result, there are not enough dwellings to meet demand.

Rising mortgage rates are pushing many first time buyers out of the market. This is not good for the housing market in 2023. As a result, the demand for rental properties will increase. This will drive up rents and contribute to inflation.




The housing market is far from viable. The housing bubble has stretched the housing market beyond its capacity, leaving it vulnerable to rising mortgage rates and crushing affordability. According to Zillow’s updated forecast for eight96 regional markets, home prices will fall in 259 markets, rise in 615 markets and remain flat in 22 markets. If the trend continues, the housing market could peak in 2023.

Home prices rose 17.8% year over year to an average of $710,428 in Gallatin

In August, home prices in Montana rose 17.8% year over year in Gallatin County to an average of $710,428, from $710,428 in August 2016. The number of homes on the market fell, but the median sale price rose 12.3% to $489,500. Days on market decreased from July to August and homes spent an average of seven days on the market. The number of new listings fell by a third to 91, and the number of completed sales fell by 21. The number of new listings fell 33% from August 2016 to July 2017.




The trend is still positive. The average home price in Gallatin County is 17.8% above the national median, although prices are still down 12.9% from the first quarter of 2022. Joanna Harper, President of Gallatin Association of Realtors, believes that the housing market is correcting itself despite the slowdown in the housing market. Meanwhile, MSU economics professor Carly Urban offers a different perspective on the market.

The recent growth in house prices in Gallatin and other towns in Montana is largely due to the lack of housing supply in the area. The number of people leaving the big cities is decreasing, reducing the number of homes on the market. Additionally, the amount of available land is decreasing, reducing the number of new homes for sale in the state.

Home prices rose 17.8% year over year to an average of $710,428 in Missoula

Earlier this year, Missoula’s real estate market was already experiencing a housing affordability crisis as prices soared. Due to zoning regulations and approval processes that slowed construction, new homes were not being built at a rate that matched demand. This has led to a reduction in available inventory, which has resulted in fewer entry-level homes on the market. In response, the city and county launched several affordable housing initiatives and changed the city’s zoning codes.

New research has shown that Montana’s housing market will remain difficult for some time, but will begin to slow and stabilize. According to the University of Montana’s Bureau of Business and Economic Research, population growth increases demand for housing, which in turn drives down inventory. With a lack of inventory and high demand, there will be a shortage of two hundred and forty homes in Missoula by 2023.

With Missoula experiencing a housing shortage, the city’s housing market is poised to rebound. A 200-unit affordable housing complex is currently under construction and should be ready for lease within 18 to 24 months. The development is funded by federal and state grants and housing tax credits. In addition to new projects, zoning codes and housing tax credits also help the housing market.

Agricultural Loan – WEST AG INFORMATION NETWORK

September 30, 2022

Montana Loans

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Agricultural loan

A dangerous economic trap into which farmers and breeders must not fall. David Sparks, AG Information Network. Agricultural economist Dr Garth Taylor has warned of a precedent that was overturned in 1980 by farmers and ranchers and encourages that same group in 2022 to avoid the pitfalls of borrowing against land. Speaker2: In the 1980s, they were borrowing against falling land commodity prices for their operating loans. They borrow against the earth and the earth began to crumble. And that’s what got him into trouble in the eighties, was borrowing against falling land values ​​and bankruptcy soon and started increasing around that time. And what we want to do is not find ourselves in a situation where we are borrowing on the land and where we have very high interest rates. Some of these generations of kids who are farming now have never had 14% or 15% or 16% interest rates. 100 on their operating loans. And it’s a very real possibility that these extremely high interest rates on their operating loans. Please get out of this situation where you are not borrowing from the land, where your prices and income are covering your operating loans. You can be clean. So far there have been very clean records and we want them to stay that way. Speaker1: Following Dr. Taylor’s advice.

Unique Background – Soccer – Georgia Tech Yellow Jackets

September 29, 2022

Montana Lending

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Inside the chart

Unique background: The upbringing that makes new special teams coordinator Jason Semore different from nearly every Division I football coach.

You have already read this story.

Kid grows up the son of a small town coach. Follows his father into the business. Climbs the coaching ranks, establishing his own success.

It does not Jason Semore all different from the scores of other coaches’ sons that populate the college football staff. After playing for his dad in high school and then writing in college, Semore has spent the past 17 years hopscoping from Division II to FCS to FBS, coast to coast, from smalltime coordinator school to Power-5 analyst and now, finally, linebacker coach at Georgia Tech. On Monday, he was promoted to special teams coordinator for the Yellow Jackets, a role he also held in 2015 at the University of Montana.

But Semore’s background makes him unlike any coach’s son at the Division I level. Maybe any Division I coach, period. And the answer innocently lies at the top of his biography.

Hometown: Ganado, Arizona.

It is information that is easy to ignore, or to skim over, or to remain indifferent. Every coach and player has it listed on their roster page.

Semore’s hometown is a bit of a misnomer. Ganado (population 905), in the northeast corner of Arizona, is technically not a city. It is a chapter of the Navajo Nation.

Semore spent his entire childhood on a reservation, in a place that is 93% Native American according to the 2020 census, immersed in a culture that few if any of his coaching peers have ever experienced.

“It was unique in that you’re in an environment where almost everyone is different from you,” he said.

Ganado is all Semore has known. His grandparents moved there in the early 1970s as part of a Bureau of Indian Affairs program that placed teachers in reserve schools in exchange for paying off their student debts. They lived and worked in Ganado for several years before returning to their native Oklahoma. Semore’s father, Russ, moved his family there after leaving the Air Force shortly after the birth of Jason and his twin brother, Chris, to become an assistant high school football coach.

“Booking is very different. They are very small towns scattered over a huge area. There are nearly a million Navajo, and all of them live on this huge, sprawling reservation, the largest reservation in the world,” Semore explained.

At an elevation of 6,385 feet, Ganado is in the rural and rugged Four Corners region of the United States. His Navajo name, Lók’aahnteel, translates to “Patch of Wide Reeds”. Cattle and sheep ranches stretch along Highway 191 west. Rabbitbrush, pinons, junipers and prickly pears freckle the red clay hills. Copper-colored mesas and escarpments loom in the distance, giving the area a sense of vast, ancient beauty. Hogans, the low ceremonial dwellings built with wood and packed mud, can still be found around Ganado, often standing next to the usual family houses.

“These are high desert plains. It’s really unique in that it’s not quite Utah sandstone, but it’s more vegetation than high desert,” Semore explained.

He knows the stereotypes of communities like his. Ganado is rustic, but it’s not dark or forgotten. It has its challenges, but it is not crippled by the problems that plague so many small reserve communities. Window Rock, the capital of the Navajo Nation, is 25 miles to the east and has banks, grocery stores, and fast food chains, and Ganado has a regional hospital and an airport. The Hubbell Trading Post is a National Historic Site that attracts visitors from across the Southwest. Ganado bills itself as one of the most agriculturally progressive places in the Navajo Nation, and the area is renowned for its Navajo rug making. When Semore and his family lived there, the high school had nearly 1,000 students from across the county.

Jason Semore helped lead Valdosta State to the 2021 NCAA Division II National Championship Game as defensive coordinator before returning to Tech as linebackers coach in 2022. This week he was promoted to special teams coordinator.

It’s a proud, active and tight-knit community, though Semore admits being away from the reservation has had an effect on him.

“There are no big cities. Every town has a gas station, maybe a McDonald’s or something. There was no McDonald’s in Ganado. There’s just not much to do in terms of social life or activities or having a job as a teenager,” Semore said.

The isolation had an advantage, however.

“For me it was an opportunity to really invest in athletics, because you really don’t have any other [social] choice,” he said.

Semore poured his energies into football, baseball, and the track at Ganado High, where his father served as head football coach. On offense, Jason played running back while his twin brother played quarterback; on defense, he earned first-team all-state honors at linebacker. Together they led the Ganado Hornets to four conference championships in the late 1990s.

Semore has fond memories of community support for their games, even though their nearest opponent was 45 minutes away by bus.

“On the reservation, everyone sort of knows that basketball is king. The basketball arenas rival the Power Five basketball arenas. But there was a great crowd. If you live on the reserve and nearest [big] town is Albuquerque, NM, three hours away, there’s not much of a social scene,” Semore said.

He and his brother enjoyed the notoriety that came with being local sports stars. But their recognition of Ganado stemmed from other reasons as well – the fact that he and his family were not native Navajo.

Still, he insists he never felt embarrassed about it. His family had lived in Ganado for most of the past 30 years. As part of his high school education, he had to take a course in Navajo studies where he learned traditional tribal skills like weaving papooses and slaughtering sheep. Navajo culture was everywhere, but Semore never felt out of place. He speaks fondly of the friendliness and strong family environment in Ganado.

“The community is really tight-knit,” he said. “It’s like stepping back in time when you go back. People really like you as a person and the relationships are close. It’s a cool place.

Semore explained that many Navajos share the same surname, even though they are not blood relatives. Their surnames refer more to their clan.

“It’s almost as if everyone around me might as well have asked me what my clan was. It was a really cool experience,” Semore said.

After graduating from high school in 2000, Semore continued his playing career at Division II Adams State in Alamosa, Colorado. When his trainers praised him for “living in the weight room,” he couldn’t help but laugh. He never thought twice about all the time he spent lifting weights at Ganado. What else was there to do?

“When I got to college and left the reserve, I really believed that I had a different view of what I was doing with my time,” Semore said.

By the time he graduated from Adams State, his father had taken a head coaching job at a high school two hours south of Ganado, near the New Mexico border. Semore served as defensive coordinator. The following year, he scored his first college gig, as a secondary Division II coach at the Colorado School of Mines.

Semore has remained in the collegiate ranks ever since, working meticulously through a variety of defensive roles. He returned to Adams State to serve as co-defensive coordinator in 2007, the first of four defensive coordinator positions he has held over the years. He met Tech defensive coordinator Andrew Thacker while a defensive assistant at Oklahoma State in 2012, which eventually connected him with the Georgia Tech staff.

Getting established in coaching is a question of performance, but it’s also a question of networking. Even with a coaching father, Semore knows his background — growing up on a reserve, Division II football — didn’t lend itself to the ready-made relationships of other aspiring college coaches. But he says his experiences at Ganado, growing up among the Navajo, taught him to feel at home in other cultures. And that, in turn, helped him thrive in coaching.

“Being able to build relationships came naturally to me, and it was important to me, and it got me to where I am today,” Semore said.

It’s an experience he wouldn’t trade either. This Saturday, when Georgia Tech takes on Pittsburgh (8 p.m. ET, Legends Sports’ Georgia Tech Sports Network), Ganado’s coach’s son will pursue the next chapter of his career, charting a course few college footballers have duplicated.

‘Free market environmentalism’ works in Montana – InsideSources

September 29, 2022

Montana Economy

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When I first heard of “free market environmentalism” I was pretty skeptical. My assumption about private capital was that its primary duty was to multiply, but this view demonstrated an inability to understand market potential. Markets allow people to provide capital and, as long as they provide enough, to receive just about anything they want in return. It could be a new car, a set of solar panels or a piece of land.

Even knowing this, however, it never occurred to me that with enough investment, a private organization could buy enough land to conserve an entire ecosystem and do so for the benefit of people and wildlife. Yet that is precisely what American Prairie is doing in the Great Plains of central Montana.

To conserve 3.2 million acres, an area the size of the state of Connecticut, American Prairie leverages private philanthropy and property rights to purchase ranch land, improve wildlife habitat and open it to the public. This access includes opportunities to hunt, bike, hike, fish, camp and more.

One of the most exciting aspects of this model is that it is based on the voluntary exchange of goods between private citizens, none of whom have to be paid for with taxpayers’ money. In other words, American Prairie can provide significant public benefits at no public cost, primarily due to the generosity of conservation-minded donors.

Do I mean that all conservation should be privatized and Yellowstone National Park should be run by entrepreneurs? Certainly not, but given the current political landscape and the difficulty for government to effectively purchase and manage land, it is important to seek new, more adaptive models. Some people still believe that conservation outcomes are best achieved when government intervenes to spare our natural resources from the rapacious greed of individuals, but what if other people are convinced that those same resources have a greater value when left intact? Theseindividuals exist too, and thousands of them have chosen to donate to American Prairie’s efforts in Montana, giving a voice to a marketplace for publicly accessible land and wildlife.

The best part is that it all actually works. American Prairie has already seen an increase in biodiversity on land where it has been able to graze its private bison herd instead of cattle. A recent study of its properties found that “bison reintroduction appears to work as a passive riparian restoration strategy with positive diversity outcomes for birds and mammals.”

Another 29-year study of three pastures in Kansas found that reintroducing bison increased native plant species richness by 86%, compared to only 30% for cattle.

By managing these lands, livestock and wildlife in collaboration with neighboring ranchers, the Bureau of Land Management and the Fish and Wildlife Service, American Prairie invests in these communities, attracts ecotourism dollars and strengthens the local economy.

Some of these benefits are felt more directly by participants in American Prairie’s Wild Sky program, which financially encourages wildlife-friendly management practices on neighboring ranches. Interested neighbors can sign up for “Cameras for Conservation,” where American Prairie will pay to install game cameras on the rancher’s property, then pay them for each image of an animal that that camera generates. If your camera takes a picture of an elk or a deer, that’s $50 in your pocket. A mountain lion? It’s $250. And if you document the presence of a grizzly bear or wolf, it will cost you $500 per animal, while you are still raising livestock on the property.

This is free-market environmentalism at work, aligning incentives to make wildlife conservation and tolerance a good business decision rather than a burden on local landowners.

American Prairie is 20 years old and manages 450,000 acres, but including the adjacent wildlife refuge and national monument, approximately 1.75 million acres are now conserved for people and wildlife in central Montana.

To achieve its long-term goals, American Prairie will need to continue to raise private capital, and outside groups will need to accept that ranching and conservation can, should, and must co-exist. America’s landscape and natural resources are vast, but projects like American Prairie illustrate how well-executed free-market environmentalism can help conserve them for everyone.

‘Scary’ mortgage rates, sticker shock forcing buyers to forfeit contracts, broker says

September 28, 2022

Montana Mortgages

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As the 30-year fixed mortgage rate doubles from a year ago and the housing market faces ‘less affordability’, a real estate broker warns that potential buyers are more likely to forgo deals in course without consequence.

“These are some pretty scary numbers. You never would have expected this before because you usually wouldn’t have the option of going back on a contract,” said Pamela Liebman, president and chief executive of the Corcoran Group, at “Mornings with Maria” on Wednesday. “No one would give you a mortgage contingency when the market was on fire and just going up, up, up.”

“But now that sellers are a little more desperate to make these deals, they’re offering these contractual contingencies,” the brokerage continued.

As mortgage rates continue to hit multi-year highs every week and market demand begins to cool, a Redfin report found that Sun Belt states had the highest contract cancellation rates . According to Liebman, many homebuyers walk away after feeling the shock of the mortgage sticker.

DOUBLE MORTGAGE RATES VS. A YEAR AGO, REFINANCINGS HIT 22-YEAR LOW: SURVEY

Corcoran Group President and CEO Pamela Liebman said “scary” mortgage rates had created “less affordability” in the housing market during “Mornings with Maria” on Wednesday, September 28, 2022. (AP Newsroom)

Mortgage rates have risen more than one percentage point over the past six weeks. At the end of the week of September 23, the 30-year fixed rate was 6.52%, which is the highest since mid-2008.

“You may have applied for a mortgage two weeks ago, and now the cost is much higher, and that just makes it unaffordable and people will leave,” Liebman explained.

Onerous mortgages and house prices have taken “a lot of people” out of the home buying market, the broker said.

“I also think a lot of fun places to buy, whether it’s Vegas or Orlando or Montana, some of them aren’t as fun anymore because it’s gotten a lot more expensive,” Liebman said. “And disposable income isn’t what it used to be because of inflation everywhere.”

Now that home sellers have more listings to compete with, the real estate expert noted, people will try to get buyers’ attention and offers by lowering the asking price.

“It’s a nationwide market that has really seen such incredible price increases during the pandemic, that it’s a double whammy of expensive prices and expensive mortgages,” Liebman said. “So something must give.”

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Although Liebman said she doesn’t believe the United States is in a real estate recession, she advised those active in the market to “expect surprises.”

“We want more people to be able to buy new homes, and now we have a whole new generation preparing to enter the market. So I think housing will be fine, and as President Powell said, can -be a bit more balanced,” said the CEO of the Corcoran Group. “You really need to talk to someone who can advise you financially if a rate hike is going to crush you financially.”

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Elizabeth Pritchett of FOX Business contributed to this report.

Nexo heads for the hills just as California unleashes a wave of suits

September 27, 2022

Montana Loans

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Nexo
NEXO
announced that it had acquired a minority stake in a Rocky Mountain banking company that is turning into a fintech just a day after California began a ripple effect of state lawsuits against the cryptocurrency lender.

Summit National Bank, which is owned by Hulett Bancorp, holds a federal banking charter with the Office of the Comptroller of the Currency, which Nexo said has reviewed its investment. This OK will allow Nexo to offer products such as checking accounts and crypto loans, according to a company statement

The move could allow Nexo to offer crypto products in a federally regulated environment, even as states question its business practices. The lender did not respond to repeated requests for comment on its strategy and whether its deal with Summit was aimed at resolving its issues with state governments.

Just 24 hours prior, the California Department of Financial Protection and Innovation issued a cease and desist order after claiming that Nexo’s interest-bearing crypto accounts were securities.

On the East Coast, New York Attorney General Letitia James has announced legal action against the lender and is seeking to permanently ban Nexo from selling securities in the state.

“Nexo has violated the law and the trust of investors by falsely claiming that it is a licensed and registered platform. Nexo must end its illegal operations and take the necessary steps to protect its investors,” James said in a statement. statement.

The Swiss-based company is now facing individual lawsuits from states, including Vermont, Washington, Mayland, Oklahoma, Caroline from the south and Kentuckyfollowing California and New York moves.

Nexo’s business model of offering generous interest against crypto deposits is reminiscent of the approaches of Voyager Digital and Celsius
CEL
Network, both of which fell into bankruptcy court as falling currency prices upended their business models. Nexo appears to have avoided that fate, but heightened regulatory scrutiny as the so-called crypto winter unfolds is another matter.

Summit is a bank with Pitches in Idaho, Montana and Wyoming. Nexo said it is “reinventing itself as a modern digital FinTech bank”.

Crypto Lender Nexo Obtains US Banking Charter Through Acquisition Deal

September 27, 2022

Montana Lending

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The crypto market has been battered this year, with nearly $2 trillion wiped from its value since its peak.

Jonathan Raa | Nurphoto | Getty Images

Cryptocurrency lender Nexo announced on Tuesday that it has taken a stake in a federally regulated U.S. bank, paving the way for the company to offer banking services to Americans as a licensed institution.

Nexo, based in Zug, Switzerland, said it had agreed to buy an undisclosed stake in Hulett Bancorp, which owns a bedyouthe best known bank called Summit National Bank. Through Summit National Bank, which holds a federal banking charter with the Office of the Comptroller of the Currency, Nexo plans to offer a range of products including checking accounts and crypto loans.

The move is an important development for the nascent crypto industry, which is seeking to curry favor with politicians and regulators as investment in and adoption of digital assets increases. The market licked its wounds following the collapse of the controversial terraUSD token, which sparked a wave of liquidations and bankruptcies of companies like Celsius and Three Arrows Capital.

Nexo declined to disclose the size of its stake in Summit National Bank. The company called the deal “an industry-changing transaction.” In addition to the ability to launch new products, Nexo said its banking license would provide users with stronger legal safeguards. The deal will also help Nexo expand its presence in the United States, the company said.

“We already have a strong offering when it comes to our crypto lending, but we always like to have more than one option to provide a particular service,” Nexo co-founder Antoni Trenchev told CNBC.

“Acquiring a stake in a fully-fledged bank enables us to offer our full range of services to US retail and institutional customers, including bank accounts, asset-backed lending, card programs, as well as as escrow and custody solutions, and many other future plans for Nexo’s expansion into the United States that will be unveiled in the coming months.”

Summit National Bank traces its origins to 1984 in Wyoming, where the company was originally licensed as Hulett National Bank. The company later opened branches in Idaho and Montana. According to its website, Summit National Bank’s major loans are for “trade, agriculture, real estate, mortgages and construction.”

The news comes just a day after Nexo faced lawsuits from eight US states alleging the company offered users paid accounts without first registering them as securities and providing necessary information. Nexo allegedly misled investors into thinking it was a licensed and registered platform, according to filings.

In response to the lawsuit, Nexo said it worked with US federal and state regulators. The company sought to differentiate itself from other players who have encountered financial difficulties, saying it “did not engage in unsecured loans, had no exposure to LUNA/UST, did not need ‘be bailed out or did not need to resort to withdrawal restrictions.

Nexo, which has over $4 billion in assets under management, is not the first crypto firm to obtain a banking license, although this is a rare occurrence in the industry. Other fintech companies have already obtained federal banking charters through mergers and acquisitions, including SoFi, which offers crypto trading on its platform, and LendingClub.

Coal price revival: how long can it last?

September 26, 2022

Montana Economy

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“If a year ago, fifteen months ago, you told people that thermal coal could cost $440 and coking coal could cost $600, they would call the ambulance and recommend a good doctor” , Neil Bristow, Managing Director of H&W Worldwide. Consulting, said Thursday at a recent Coal Association of Canada conference.

“Who would believe it?

While Russia’s invasion of Ukraine rattled energy markets and drove up coal prices, the reality is that thermal coal prices had surged months before the invasion, as Europe was already in self-induced energy shortage and resorted to coal.

Five or six years ago, thermal coal was selling for $60 to $80 a ton, Bristow said. Even before Russia invaded Ukraine, thermal coal prices had soared to around $200 a ton.

“The fundamentals that drove these prices higher in the third and fourth quarters of 2021 are still there, and they were only exacerbated by the Russian coal sanctions,” said Ernie Thrasher, CEO of Xcoal Energy and Resources.

Never in Bristow’s lifetime had he seen thermal coal (burned to generate electricity) worth more than metallurgical coal, which is used to make steel, but now it does.

Metallurgical coal (also known as coking coal or steelmaking coal) briefly hit $600 a ton, Bristow said, but has since stabilized at around $270 a ton. That’s still a high price, but less than thermal coal right now, which is well over $300 a ton.

The usual market forces of supply and demand that would normally see producers respond to high prices with increased production simply do not occur with coal.

In the United States, the coal mining industry is half the size it was a few decades ago and simply cannot suddenly reverse. Australian coal production peaked in 2016 and it seems unlikely that it can either meet the sudden demand for thermal coal. British Columbia is a major producer and exporter of metallurgical coal, but Canada exports little or no thermal coal.

Xcoal estimates that the UK and Europe alone will have to find 47 million tonnes of coal that came from Russia. It is unlikely to come from the United States

“There’s just not much the United States can do,” Thrasher said. “We have basically dismembered our coal industry.”

Even if US coal mines could increase production, coal terminal capacity for exports is limited, so coal produced in Montana and Wyoming is shipped through BC export terminals. And right now, one of those terminals – Westshore – has been paralyzed by a strike.

“There just isn’t the elasticity in the supply chain for people to react to these prices, and the old adage that the best thing for high prices is high prices is not true. “, said Thrasher.

In total, Xcoal estimates the global coal supply shortfall at 96 million tonnes.

“These high coal prices are happening at a time when the Chinese economy is just flat on its back,” Thrasher added. If the Chinese economy were to suddenly recover and grow, it would put even more pressure on thermal and coking coal prices.

“Who can supply 96 million tonnes to fill this void? Thrasher wondered. “There’s probably only China and India. There just aren’t many other countries in the world where there is the capacity to produce the coal needed to fill that void.

As for steelmaking coal, BC’s second most valuable export, a global recession could cool demand and temper prices somewhat. But Bristow predicts prices will remain high for the next few years because there simply aren’t enough new metallurgical coal mines being built.

“My models don’t show enough coking coal to meet global demand after about 2027, 2028,” Bristow said. “We desperately need new mines.”

“I’m going to be bold and say it won’t stay at $400 or $500 a ton for very long,” Thrasher said of coking coal prices. “But I think the days of seeing less than $125, $150 per metric ton of coking coal over any period of time are in the rearview mirror, and that’s because coal isn’t everything. simply not produced.”

Thrasher said he could see stagflation resulting from the coal shortage, if there was a global recession.

“If we go into a major global economic downturn, that’s definitely going to put a damper on our products,” Thrasher said. “The question is, if you go back and look at these supply shortages, will a 5% global economic slowdown be enough to solve the problem if you are short of 10% energy supply? You basically have a stagflation environment where the global economy is collapsing, but you still need energy and energy prices remain high.

“It will affect thermal more than coking coal. It could be something we haven’t seen in 40 or 50 years.

(This article first appeared in Business in Vancouver)

Joanne Jeanine Stillman Hender, 60

September 25, 2022

Montana Mortgages

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Joanne Jeanine Stillman Hender, 60, of Idaho Falls, Idaho, was reunited with her Heavenly Father, parents, and previously departed siblings, Sept. 1, 2022, at Eastern Idaho Regional Medical Center.

Joanne was born March 16, 1962 in Kalispell to Theron Jackson Stillman and Maybelle Elaine Munter Stillman. Joanne grew up and attended schools in Kalispell, and graduated from Flathead High School. She is also a graduate of LDS Business College in Salt Lake City.

On August 25, 1990, she married John Arthur Hender Sr. in Salt Lake City. They were then sealed in the Jordan Temple on September 24, 2010. Joanne and John met in Salt Lake and seven years ago made their home in Idaho Falls, Idaho. While living in Utah, Joanne worked as a mortgage underwriter, mortgage processor, and more. She worked until her health prevented her. She was a real woman of strength who had been battling type 1 diabetes for over 48 years.

She was a member of The Church of Jesus Christ of Latter-day Saints. She loved to sew and play the piano. She was an avid reader. Her favorite authors were John Grisham and Anita Stansfield. She loves her scriptures and the manuals that accompany them. Later in life, she enjoyed playing 15 games at a time of “Words With Friends” with John because she liked to keep her mind active.

Her best friend was her niece, Kandice, known as “Buddy”.

The world was better because Joanne was part of it. There are relatively few individuals who have such a strong impact in such a quiet way.

“There aren’t enough words in the world to describe how wonderful she is. Everywhere she went she looked for people she could help. Where Joanne is is where happiness was. She was a godsend. You didn’t have to be anyone special, she just loved you. I bet she’s in heaven and makes everyone smile. — Jane Keller Kump, darling friend .


“Even though she pushed just to keep breathing the air of life, she always went out of herself to try to make other people’s days easier and her contagious smile lit up other people’s faces and made them smile too.

“I had the best wife one could dream of having; she held nothing back. She’s been my daughter since the day we met; As soon as I walked up and started talking to her, she said, “I knew you were trouble.” We were together from then on; We just did.

“So we’re about 30 years later saying, ‘I’ll see you in a minute. As we think of her and feel her gentle spirit, she will make us smile, not through a whole lot of pain, but without it. Can you imagine how liberating it must be for a person who has been riddled with disease for almost 50 years to be free from broken bones, type 1 diabetes, osteoporosis, gastroparesis, sinus surgeries, from cataracts, migraines, dialysis, heart surgeries, endless diagnostic procedures, and the relentless pain of a debilitating, insomnia-producing neuropathy, along with high blood pressure, night sweats, and a body that just be made a long time ago, and which would have been without a heroic effort that people might witness – if they’re lucky – once in a lifetime and not in a movie.

“I could never be more proud than to have you as my daughter, so so selfless, so cute, so smart, so witty, so loyal, so loving, so compassionate, my Joanne, Fonzie loves you and I love you, Baby – John A. Hender Sr.


“Joanne was my girlfriend. She and I did everything together. I remember a moment that sticks so clearly in my mind to this day when I went to her office for a Halloween party one year and she was dressed up as a mummy and I was dressed up as a doctor. We had a blast! We jumped for apples and played games. I was always included in her office stuff when she was working, helping her make copies of different things, etc. We had a bond like no other, she meant the world to me. —Kandice Morrison “Buddy”

“I remember when I was a child, Joanne liked to play at school with everyone who played with her and she also liked to prepare family home evening lessons for her family. Joanne loved all things paper, office, teaching and documents! She was the best at it! — Melanie Morrison

“Joanne could listen to my boring, meandering stories as if they were the greatest stories ever told. You made it feel important. If it mattered to you, it mattered to her. With her sharp mind, she could throw zingers with the best of them. —Bill Stillman

“For a Christmas present to family members for Christmas 1985, Joanne wrote a ‘life story of her mother Maybelle Elaine Munter Stillman’. This life story was a labor of love for Joanne and showed her love for his mother and family” – Ted and Claudia Stillman

“Whenever Joanne needed us to move her from place to place, she was always located on the third floor. Once she wanted to go from one side of the third floor to the other side of the third floor. The two sides of this third floor were not interconnected. We had to go down the three flights of stairs, cross to the ground floor and back up to the third floor. It was when all of our children were young; Jennifer was maybe 12 years old. I looked at the scene in front of me and saw our seven children with a lampshade or a box or a wall picture or a lamp, whatever they could carry on one side and come up on the other side like a small army. I don’t remember why the move, but Joanne needed it. -Gary Stillman

“Jeanine’s best memory is when we organized the family Christmas party at her house. Next, Joanne took us on a scavenger hunt to look at all the different lights in her neighborhood. The coolest thing was a display of different nativity scenes in his neighbour’s house. It was when all of our kids were young, Jennifer was maybe 12. —Jeanine Stillman

“We remember taking a summer vacation to Kalispell to see mum. Back then, Joanne always took our sons for wagon rides, playing games and watching cartoons. We went to the drive-ins, and Joanne and Mel always kept the kids busy in the back of Mom’s station wagon. They always had a great time with Joanne in Montana. —Larry Stillman

“Years ago when Joanne was Young Women president, she and Mel led the sweetest group of Young Women to do baptisms for the dead at the Idaho Falls Temple. They stayed here with us. I just remembered how the girls loved and admired her, how she interacted with them. They knew she loved them and wanted the best for them! She taught by example how to be devoted and loyal to what she believed to be right! Whatever she did, she gave it her all! — Kathy Stillman.

Joanne is survived by her beloved husband, John Hender, of Idaho Falls, Idaho; his dog, Fonzi Hender; siblings, Ted (Claudia) Stillman of Highland, Utah, Gary (Jeanine) Stillman of Salt Lake City, Melanie Morrison of Herriman, Utah, Larry (Loydene) Stillman of Bluffdale, Utah, and Tim Stillman of Idaho Falls, Idaho.

She was predeceased by her parents and siblings, Danny, Vicky, Ronnie, Bobby and her sweet niece Jennifer.

Services were held at 11 a.m. Wednesday, September 7 at Sand Creek 2nd Ward, 2545 Mesa Street, with Bishop Andrew Trane officiating. Interment took place at Fielding Memorial Park Cemetery.

In lieu of flowers, the family suggests donations to Snake River Animal Shelter or GoFundMe fundraiser.

Senate committee seeks to improve rural housing stock as needs grow

September 24, 2022

Montana Lending

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Officials are considering how to improve rural housing programs across the United States as more people struggle with the rising cost of living. The U.S. Senate Committee on Banking, Housing, and Urban Affairs held a audience On Tuesday, ask stakeholders and credit professionals how USDA’s Rural Housing Service can better serve rural residents.

In the Mountain West region, more than one-fifth of homeowners with a mortgage spend at least 35% of their monthly income on housing, according to data released last week by the United States Census Bureau. Nearly 40% of tenants across the region spend more than a third of their income on rents, and vacancy rates are falling as supply chains, labor shortages and inflation make it difficult to build additional units.

The Rural Housing Service, or HRH, is one of the only government tools specifically aimed at rural populations. It offers loans, grants and loan guarantees not only for single and multi-family housing, but also for hospitals, fire stations and other critical community infrastructure. However, testimony at the Senate hearing showed that the program has been hampered by staffing shortages, underfunding and technological challenges.

“This disparity negatively impacts rural and Native Americans who rely on them as some of the best and only products designed for rural and Native needs,” said tribal housing expert Tonya Plummer. “We encourage creative solutions.”

Of the total mortgages issued nationwide last year, about 114,000 loans — less than 0.5% of total volume — were USDA-backed, according to David Battany of the Mortgage Lenders Association.

“These programs are worthy of our country’s commitment to them,” he said.

Legislation introduced earlier this week by Sens. Tina Smith, D-Minn., and Jeanne Shaheen, DN.H., aims to further that commitment by making the loan process easier for select rural residents seeking housing assistance.

Most speakers, however, said additional and systematic investments in the USDA are needed to really turn around the HRH. Using South Dakota as an example, Plummer, the tribal housing expert, said program staff in the state are operating at “25% of what they were five years ago.” For starters, she proposed several “nuanced” changes to how the federal government structures its loan, budget, and foreclosure programs during his testimony.

Bettany agreed and added that the current loan payment and application process for lenders and applicants is cumbersome and outdated. RHS response times to approve a loan can take up to 10 days, well beyond the industry standard.

“RHS loans can better serve consumers and industry players,” Bettany said.

“We can advance this goal by addressing three areas: better workflow, better technology, and if both of these areas are achieved, better lending products.”

This comprehensive look at rural housing comes at a time when needs are skyrocketing. In Wyoming, a rental assistance program broke demand records in August, and there was more requests for property tax relief last year than ever.

The Ministry of Housing and Urban Planning is also help to rise for rural homelessness nationwide.

This story was produced by the Mountain West News Bureau, a collaboration between Wyoming Public Media, Boise State Public Radio in Idaho, KUNR in Nevada, the O’Connor Center for the Rocky Mountain West in Montana, KUNC in the Colorado, KUNM in New Mexico, with support from affiliate stations throughout the region. Funding for the Mountain West News Bureau is provided in part by the public broadcasting company.

Copyright 2022 Wyoming Public Radio. To see more, visit Wyoming Public Radio.

South Dakota investigation assesses Noem’s use of state aircraft

September 24, 2022

Montana Economy

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SIOUX FALLS, SD (AP) — South Dakota Governor Kristi Noem was returning from an official appearance in Rapid City in 2019 when she had to make a decision: to spend the night in the capital of Pierre, where another trip would start the next day, or go home and see her son attend his high school prom?

The Republican governor chose the latter, a move that ultimately cost taxpayers some $3,700 when the state plane dropped her off near her home and then returned the next day to pick her up.

It was one of many trips that year where Noem, a potential candidate for the White House in 2024, blurred the lines between official travel and attending family or political events. The trips sparked a complaint to the state Ethics Committee, which referred the matter to the state’s Criminal Investigations Division. A county prosecutor overseeing the investigation will decide whether the governor violated an untested law passed by voters in 2006 to curb questionable use of the state plane.

The governor was also sued by the same ethics committee for intervening at a state agency shortly after deciding to deny his daughter a real estate appraiser’s license.

As the Noem political star rose in 2020, she began using private jets to travel to fundraisers, campaign events and conservative rallies.

But before that, during his first year in office in 2019, Noem used the state plane six times to travel to out-of-state events hosted by political organizations, including the Republican Governors Association, the Republican Jewish Coalition, Turning Point USA and the National Riflemen Association. Raw Story, an online news site, first reported on the trips, which the governor’s office has championed as part of her job as the state’s “ambassador” to bolster the economy of the region. state and intergovernmental relations.

Airplane logs from the state also show Noem had family members who joined her on flights into the state in 2019.

The 2006 ballot measure was a response to the government’s scrutiny of air travel at the time. Mike Rounds, who attended events such as his son’s away basketball games while traveling on other official business. At the time, Rounds, now a U.S. senator, used political funds to reimburse the state for those trips, as well as travel to political events.

State Sen. Reynold Nesiba, a Democrat who proposed the ballot measure before becoming a lawmaker, said voters were clear in their intent.

“When used for family members, it appears to be a clear violation of not only the letter but also the spirit of the law which was overwhelmingly passed,” he said. .

Noem’s campaign spokesman Ian Fury said it was “fully within the rules” for family members to join governors on flights, adding that “the level of fussiness is ridiculous because she does that stuff less than Dennis Daugaard,” referring to Noem’s Republican predecessor. .

The state plane logs of Linda, the wife of Daugaard’s last show, often joined the trips. Daugaard’s sister and daughter also joined one trip each in 2017 and 2016 respectively. Noem’s children — not including his daughter Kennedy Noem, a member of the governor’s staff as a political analyst — went on nine plane trips during his first term.

On another trip, Noem’s itinerary allowed her to return home for her son’s prom. On April 5, 2019, she flew from Watertown State, near her home in Castlewood, to Rapid City for an announcement at Ellsworth Air Force Base. On the return flight, the plane stopped in the capital Pierre to drop off Rounds, who had joined her for the trip, and several helpers. But even though she had another trip from Pierre to Las Vegas for a Republican Jewish Coalition event scheduled for the next day, Noem did not stay at the governor’s mansion there.

She flew to Watertown, near her home, in time to see her son take the stage at his prom, according to Noem’s social media posts. The state plane, meanwhile, returned to Pierre, to make the return trip to Watertown for the governor the following day.

Fury defended the trips because her trip started in Watertown, near where she had spoken at an event for her son’s school district the day before.

“Part of official travel comes from official travel,” Fury said.

He used a similar defense for a May 30, 2019 trip that started in Custer, where she was staying to help her daughter prepare for her wedding, and traveled the state to speak at two youth leadership events. . Noem’s son, nephew and one of their friends who were attending one of these events in Aberdeen returned on the official plane to join in the wedding preparations.

Fury said adding his son and friends to the flight didn’t cost the state extra money and was part of his official trip.

Richard Briffault, a Columbia Law School professor who specializes in government ethics, said Noem’s trips to political events appeared to fall into a legal gray area. While traveling to raise funds or campaign would clearly break the law, he said, traveling to meet with political groups was “pushing the line”.

Across the country, Democratic and Republican governors have come under scrutiny for their use of state planes. New York, Kentucky, Minnesota and Montana allow governors to play politics with state-owned aircraft, but impose certain restrictions and require refunds for political purposes. New York also allows immediate family members to travel with the governor.

Hughes County State’s Attorney Jessica LaMie, who was appointed to determine whether Noem broke the law, promised a “thorough” investigation.

“If you take away the title and all that, it’s no different than any other survey,” she said.

Neil Fulton, the dean of the University of South Dakota Law School who also served as Rounds’ chief of staff after the 2006 law was signed into law, said it was not entirely clear what the law means exactly by “state affairs”. He said other jurisdictions generally define affairs of state as “actions to advance state programs or initiatives.”

The law imposes high fines: $1,000 plus 10 times the cost of the trip. Offenders also face a Class 2 misdemeanor, which carries a maximum sentence of 30 days in jail, but is generally only reserved for repeat offenders or violent repeat offenders.

“We weren’t expecting to convict anyone of anything,” said Nesiba, the state legislator. “We hoped to have a deterrent effect.”

Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

Have you heard of ADCONs? How to Prepare for Fannie Mae and Freddie Mac’s New Address Privacy Program Requirements | Bradley Arant Boult Cummings LLP

September 23, 2022

Montana Mortgages

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In July of this year, Fannie Mae announced an update to the Agency’s guidance for sellers and service agents to include requirements that mortgage sellers and service agents comply with programs. address privacy policy (ADCON) and enter a coding for borrowers who identify themselves as participants in such programs (SEL-2022-06; SVC-2022-05). Fannie Mae’s announcement follows a similar announcement from Freddie Mac in December 2021 (Bulletin 2021-29).

What are ADCONs and what should banks, lenders and service providers know about them?

ADCONs are state-sponsored programs designed to protect certain “participants” who are victims of crime by keeping participants’ home, work and/or school addresses confidential (“protected information”). All states and the District of Columbia have some form of ADCON law except Alaska, Utah, South Carolina, South Dakota, and Wyoming. There are a variety of types of ADCON, but all programs work by providing the participant with an alternate address (a “designated address”) to use instead of the participant’s physical home address (or “real address”). . Each ADCON has a state-level administrator who processes ADCON participation requests, forwards incoming mail to the designated address, and accepts process service for participants.

As originally enacted, ADCON obligations only applied to government agencies such as state DMVs or county registrars. In recent years, however, 21 states have adopted ADCONs that explicitly extend these obligations to private entities. Five states require private entities such as financial services companies to use the designated address in correspondence and not disclose the participant’s protected information. These five mandatory states are Indiana, Iowa, Maryland, Minnesota and Wisconsin. Two other states, Michigan and Ohio, prohibit financial services companies from disclosing protected information of participating employees. In other states, financial services firms are prohibited from obtaining an individual’s real address if the firm knows the individual is a participant.

Even if an ADCON law does not explicitly oblige private companies to comply with it, all state administrators encourage voluntary compliance by private companies. See, for example, the Montana Safe at Home training video for private companies (note that various states refer to ADCONs as “Safe at Home” programs).

What is Fannie Mae and Freddie Mac want sellers and repairers to do?

First, agencies want vendors and services to let them know if a borrower is a participant. This means that sellers and managers must enter a unique code for existing loans and future transferred loans, marking the borrower as an ADCON participant. Freddie Mac is also asking vendors to notify it of the designated address for attendees.

Second, Fannie Mae also wants sellers and repairers to comply with state laws. This means that managers must send borrower statements and other correspondence to the designated address; not to disclose the actual address without the specific consent of an entrant; and, where applicable, not to search for the real address in the public records of known participants. Notably, even though agency announcements brought about the ADCON laws, these obligations existed before the agency announcements.

Fannie Mae’s compliance deadline was September 21, 2022 and Freddie Mac’s compliance deadline was December 1, 2021.

How can financial services companies comply with ADCON?

Most financial institutions and service providers face two fundamental challenges with ADCON compliance. First, they may not have a process in place to flag participants for account opening or loan onboarding and therefore may not be aware of existing participant accounts currently in their portfolio. . Second, when making loans and opening accounts, they may not have processes, policies and procedures in place to identify participants and manage participant accounts once they are opened. . This same problem may exist for the active loan service.

Payday lender Cash Express reports data breach affecting 100,000 customers

September 23, 2022

Montana Loans

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Non-bank lending company Cash Express this month reported to the Montana Attorney General a data breach that allowed an unauthorized party to access sensitive consumer information of more than 100,000 people.

The company, which provides payday loans, check cashing, title loans and other high-cost short-term lending services, said in a letter to those affected that an unauthorized party obtained their personal information, including dates of birth, social security numbers, financial information. and contact information earlier this year. The Cookeville, Tennessee-based company did not provide specific details about how the breach occurred.

Richard Console, a personal injury lawyer, said in a legal blog that the most common harm from data breaches Hackers use people’s personal information to open new credit cards or personal loans. Console told American Banker in an email that it has seen an increase in data breaches since the start of the COVID-19 pandemic, particularly in 2021.

“The lesson to be learned from any data breach is that companies need to do more to protect the sensitive consumer information entrusted to them,” Console said in the email to Banker. “Certainly creating and maintaining robust data security protocols is an additional cost; however, given the ever-increasing number of data breaches, the expense is justified.”

At least 80 financial services companies reported data breaches in 2022according to the Maine Attorney General’s Office, though Maine only tracks violations that affect at least one resident of the state.

In its letter to those affected, Cash Express said it had engaged a third-party data security firm to conduct an investigation after detecting unusual activity on its corporate network on February 6. The investigation revealed that an unauthorized party accessed part of the computer system between January 29 and February 6. According to the Maine Attorney General’s Office, 106,521 people were affected through the breach.

Cash Express received the results of the investigation on August 4 and reported the activity to the Montana Attorney General and affected individuals on September 15. CEO Garry McNabb said in the letter that Cash Express is offering free credit card monitoring to affected individuals through a one-year membership to Experian’s IdentityWorks.

The consumer lending company was founded in 1995. It operates through offices in the Midwest and the South.

In 2018, the Bureau of Consumer Financial Protection Bureau announced that Cash Express would pay a civil penalty of $200,000 and restitution of $32,000 to customers for a series of violations of the Consumer Financial Protection Act involving deceptive consumers.

Volunteer Day touches the surface of needed help in the community

September 23, 2022

Montana Lending

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NORTH PLATTE, Neb. (KNOP) — To give back to the places it calls home, First Interstate Bank, a community bank with more than 300 branches in 14 states, is hosting its fifth annual Volunteer Day on Wednesday, September 14. First Interstate sites closed that day at noon, giving its employees paid time to volunteer in nearly 400 separate service projects in its communities.

In North Platte, volunteers chose the Salvation Army as the nonprofit organization to help.

Half of First Interstate Bank employees helped out last Wednesday on the city’s North Side, participating in the Kettle Ball and Santa Cop campaigns. The other half worked together at the family’s Salvation Army store, working in the warehouse.

First Interstate Bank of North Platte Business Group Manager Troy Brandt said the Salvation Army people were very grateful for the help.

Salvation Army Major Lynneta Poff said the warehouse contained a huge pile of donations at least a meter high that needed to be sorted.

Lori Gutherless works at the Salvation Army family store. She said that without the help of First Interstate Bank employees, they would still be sifting through the large pile of donations. “They stayed here for four hours and helped us and it was like something we couldn’t do in a week with our staff and everything.”

“It was amazing to have their help and we appreciate it.”

“Today focuses and amplifies the efforts of our wonderful employees, who give generously to the places where they live and work,” said Kevin Riley, President and CEO of First Interstate BancSystem, Inc. “We are honored to celebrate the power of community with our neighbors today.

The overarching philanthropic goal of this year’s Volunteer Day is rooted in the fight against poverty, hunger and homelessness. However, employees have been empowered to select service projects that meet the specific needs of their communities. first highway Volunteer Day Microsite has a comprehensive list of these service projects organized by location, and includes project descriptions, event locations, and on-site points of contact.

Although First Interstate branches will be closed in the afternoon, the Customer Contact Center will be fully staffed and available to assist customers from 7:30 a.m. to 7:00 p.m. MT. Customers can also visit ATMs or use online banking or mobile banking app for their immediate banking needs. Regular branch and service hours will resume on Thursday, September 15.

An attitude of gratitude

Giving back on Volunteer Day isn’t just a unique goal for First Interstate; it’s a philanthropic philosophy that employees put into practice every day.

“Investing in our communities, whether through local sponsorships, donations, volunteer efforts or business development, is what makes us who we are – a full-service community bank offering a unique set of products and services, yes, but more importantly, a trusted community partner and neighbor,” Riley said.

Over the past three months, First Interstate has made that commitment a reality through its inaugural “Believe in Local” campaign, awarding 40 separate $25,000 gifts to deserving nonprofit organizations in its service area, totaling of $1 million. First Interstate’s annual Volunteer Day highlights and punctuates these efforts, amplifying the Bank’s impact to levels never seen before.

Making a difference where the bank calls home

In addition to Volunteer Day and Believe in Local, First Interstate supports other innovative philanthropy-focused programs, including Teach kids to save, neighbors to feed neighbors, give them coats and more, and be credit smart.

Additionally, through its Volunteer Matching Program, First Interstate pays nonprofit organizations $10 for every hour that First Interstate employees volunteer at their organizations (minimum 10 hours). First Interstate also matches employee donations to nonprofits and donates 2% of its pretax net income to charities. For more information on how First Interstate contributes to the health and happiness of the places it calls home, please take a look at our Community Dashboard.

About the first highway

First Interstate is a community bank based in Billings, Montana, providing the best banking and wealth management services in Arizona, Colorado, Idaho, Iowa, Kansas, Montana, Nebraska, Missouri, Minnesota, North Dakota, Oregon, South Dakota, Washington and Wyoming. With more than 300 offices, First Interstate improves the communities it serves through an innovative corporate philanthropy program, which includes donating a portion of company profits, matching personal financial contributions from employees and the donation of $10 per hour for volunteer efforts in eligible organizations. To learn more, please visit www.firstinterstate.com.

Copyright 2022 KNOP. All rights reserved.

Inmates walked out of Illinois jail on pandemic loans

September 22, 2022

Montana Loans

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PA

JOLIET, Ill. (AP) — More than two dozen people have been charged in Illinois with fraudulently obtaining pandemic relief money, with authorities alleging some of them were behind bars when ‘they used their relief money to post bail and get out of jail.

Joliet Police Chief William Evans said Wednesday that 25 people were part of the alleged fraud scheme to obtain Paycheck Protection Program checks without operating real businesses.

Fifteen of the defendants had been arrested on Wednesday and arrest warrants were pending for 10 others. They all face charges of wire fraud, theft and loan fraud, officials said.

Evans said each fraudulently obtained loan cost between $19,000 and $20,000, with the fraud costing taxpayers more than $500,000.

Investigators found that some of the defendants were being held in Will County Jail in Joliet, a Chicago suburb, when they applied for and received loans under the pandemic program and then used the money to get away of prison in their cases of crime.

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Evans said some of the defendants were in police custody and used jail phones “to complete the fraudulent PPP loan process.”

“Some of the targets got out of their criminal cases within days of receiving their fraudulent PPP loan,” he said at a press conference on Wednesday.

Joliet Police Detective James Kilgore said investigators had obtained bank statements and it “appeared some of these people had in fact used the money to link up with a felony case.”

A message was left with Joliet police on Thursday by The Associated Press requesting additional information about the allegations.

The U.S. Department of Homeland Security, the U.S. Department of Labor’s Office of Inspector General and the Will County State’s Attorney’s Office also participated in the investigation.

Emergency loans to small businesses during the coronavirus pandemic have been added last year to a list of government programs considered to be at high risk of waste, fraud or mismanagement.

In August, the The US Secret Service said he had recovered $286 million in fraudulently obtained pandemic loans and was returning the money to the Small Business Administration.

“It’s like the pandemic. It’s absolutely everywhere too,” Sean Fitzgerald, Special Agent in Charge of Homeland Security, said at Wednesday’s press conference in Joliet.

Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

Biden-Harris administration announces $502 million for broadband internet in rural communities

September 22, 2022

Montana Economy

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The funding will provide high-speed Internet access to people and businesses in rural and remote areas in 20 states; Additional funding will come from President Biden’s bipartisan Infrastructure Act in the coming months

WASHINGTON, September 22, 2022 – United States Department of Agriculture (USDA) Secretary Tom Vilsack today announced that the department is providing $502 million in loans and grants (PDF, 221 KB) to provide high-speed Internet access to residents and rural businesses in 20 states. The funding is part of the Biden-Harris administration’s commitment to invest in rural infrastructure and provide reliable and affordable high-speed internet for all. The USDA is making the investments under the third round of funding for the ReConnect program. The Department will make additional investments for rural broadband internet in the coming months, including funding President Biden’s Bipartisan Infrastructure Act, which includes a historic $65 billion investment to expand the ‘affordable high-speed Internet to all communities in the United States.

“President Biden’s commitment to bringing high-speed internet to rural communities is fundamental to ensuring that the national economy continues to grow from the bottom up and down the middle,” Vilsack said. “High-speed Internet will improve the rural economy. It will help rural businesses grow and access new markets. It will help rural residents gain access to more and better health care and educational opportunities. The USDA knows that rural America is America’s backbone, and prosperity here means prosperity for everyone.

USDA awards 32 awards in Alabama, Alaska, California, Colorado, Illinois, Iowa, Kansas, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, North Carolina, North Dakota, Oklahoma, Oregon, Tennessee, Texas and Wyoming . Many of the awards will help rural people and businesses on tribal lands and people in socially vulnerable communities.

As part of today’s announcement:

  • In Michigan, the Sault Ste. Marie Tribe of Chippewa Indians receives $25 million grant to connect 1,217 people and 26 businesses to high-speed internet in Chippewa and Mackinac counties. The tribe will make high-speed internet affordable by requiring its service provider to participate in the Federal Communications Commission’s (FCC) Affordable Connectivity Program, which offers a rebate of up to $30 per month – or $75 per month for households on tribal lands – on household Internet bills, as well as the FCC’s Lifeline program. This project will serve Sault Ste. Marie Off-Reservation Trust Land, the Sault Ste. Marie Reservation as well as socially vulnerable communities in Chippewa and Mackinac counties.
  • Net Vision Communications LLC is receiving a $12.4 million loan to connect 4,587 people, 300 businesses, nine farms and 15 public schools to high-speed Internet in Barton County, Missouri. This project will serve socially vulnerable communities in the county.
  • Southern Plains Cable LLC in Oklahoma receives an $8.1 million loan and $8.1 million grant to deploy a fibre-to-the-premises network that will connect 7,093 people, 230 businesses, six farms and 29 high-speed Internet schools in Caddo, Comanche, Cotton and Grady counties. Southern Plains will make high-speed Internet affordable by participating in the FCC’s Affordable Connectivity and Lifeline programs. This project will serve the Kiowa-Comanche-Apache-Fort Sill Apache Tribal Statistical Area as well as socially vulnerable communities in Cotton County.

The USDA has so far announced $858 million in ReConnect’s third round of funding and expects to make further investment announcements under this program in the coming weeks. Today’s announcement follows the Department’s July 28 announcement that it has invested $356 million through the ReConnect program to help very rural residents and businesses in 11 states (PDF, 192 KB) to access high-speed Internet.

Context: ReConnect program

To be eligible for ReConnect program funding, an applicant must serve an area where high-speed Internet service speeds are less than 100 megabits per second (Mbps) (download) and 20 Mbps (upload). The applicant must also commit to constructing facilities capable of providing high-speed Internet service at speeds of 100 Mbps (download and upload) to each location within its proposed service area.

To learn more about investment resources for rural areas, visit www.rd.usda.gov or contact the nearest USDA State Office of Rural Development.

Background: bipartisan infrastructure law

President Biden has forged consensus and compromise among Democrats, Republicans, and Independents to demonstrate that our democracy can bring great victories to the American people. After decades of talk about rebuilding America’s crumbling infrastructure, President Biden has introduced the Bipartisan Infrastructure Act – a historic investment in America that will change people’s lives for the better and shake things up. America again.

The bipartisan Infrastructure Act provides $65 billion to ensure that every American has access to affordable and reliable high-speed Internet through a historic investment in the deployment of broadband infrastructure. The legislation also lowers the costs of internet services and helps bridge the digital divide, so that more Americans can take full advantage of the opportunities afforded by internet access.

USDA Rural Development provides loans and grants to help expand economic opportunity, create jobs, and improve the quality of life for millions of Americans in rural areas. This aid supports the improvement of infrastructure; Business development; lodging; community facilities such as schools, public safety and health care; and high-speed Internet access in rural, tribal and very poor areas. For more information, visit www.rd.usda.gov.

The USDA touches the lives of all Americans every day in so many positive ways. In the Biden-Harris administration, the USDA is transforming the US food system with greater emphasis on more resilient local and regional food production, fairer markets for all producers, ensuring access to safe food, healthy and nutritious in all communities, creating new markets and income streams for farmers and producers using climate-smart food and forestry practices, making historic investments in clean energy infrastructure and capacity in the rural America, and committing to equity across the department by removing systemic barriers and creating a workforce that is more representative of America. To learn more, visit www.usda.gov.

If you would like to subscribe to USDA rural development updates, visit our GovDelivery subscriber page.

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US cities with the highest rent-to-price ratios | Houses

September 21, 2022

Montana Mortgages

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Photo credit: tokar / Shutterstock

With the rapid rise in real estate and rental prices over the past two years, American households that do not currently own a home are facing a major affordability crisis.

The residential real estate market took off shortly after the start of the COVID-19 pandemic. Buoyed by rising savings, low interest rates and government stimulus programs and driven by a desire for more living space, buyers rushed into the market. Increased competition has sent home prices to record highs. But now, with interest rates rising in an attempt to cool the market and rising prices being the new normal, many potential buyers have been pushed aside.

This state of affairs has left more potential buyers in the rental market and, due to increased demand, rents have skyrocketed over the past year and a half. The early months of the COVID-19 pandemic in 2020 saw rents hold steady as eviction moratoriums and federal housing assistance programs were in place. But with the expiry of these programs and increased competition for rentals, rents have taken off: in 2021, the median rent increased by 17.6%, and the median rent increased again by 6.7% already in 2022. .

For homeowners and landlords with locked in costs, the current market has been a boon. Owners have earned about $6 trillion in equity during the pandemic. Landlords, especially large business owners, enjoy higher profit margins as they raise rents to reflect market conditions.

Student loan forgiveness benefiting 120,000 Montanese | State and Region

September 21, 2022

Montana Loans

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The U.S. Department of Education estimates that 120,400 Montanese are eligible for some degree of student debt forgiveness under a plan announced by President Joe Biden last month.

A significant number of those who qualify, 78,600, were Pell Grant recipients, meaning they are eligible for the maximum $20,000 in debt forgiveness. Pell grants are awarded only to students with exceptional needs, most with household incomes below $30,000 per year, according to the DOE.

Non-Pell beneficiaries earning less than $125,000 a year could receive debt forgiveness of up to $10,000. Student loans are standard at Montana universities and colleges for full-time freshmen, about 80% of whom have borrowed money over the past decade. About 61% of college graduates in Montana have taken out loans, the average owed is about $27,290 for graduates who attended school as residents of the state.

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“It means more breathing room for millions of families,” James Kvaal, undersecretary of the Department for Education, said in a press call on Tuesday. “It means renters are pursuing their dream of home ownership. It means parents who thought they would pay off their student debt for the rest of their lives. can now save for their own children’s education.

The loan forgiveness was not viewed favorably by elected Montana Republicans. Governor Greg Gianforte joined other Republican governors in calling on Biden to drop the loan cancellation plan, calling the move a benefit to the “elites” in society at the expense of taxpayers.

U.S. Senator Steve Daines called the loan forgiveness “totally unfair, wildly irresponsible and clearly unconstitutional,” also calling the forgiveness a burden on the taxpayers of Montana on the day Biden’s plan was announced.

Kvaal said on Tuesday that the Department of Education expects the loan cancellation plan to be recognized by law as something Education Secretary Miguel Cardona can do to compensate for financial damage. of the pandemic.

“We have considered the question of the Secretary’s legal authority to carry out this action quite extensively. We looked at it from all angles. The Secretary clearly has the power to protect borrowers from financial harm resulting from the pandemic and we are fully confident that he has the power to do so,” Kvaal said.

Tuition and fees at Montana’s flagship universities were $7,500 per year in the 2021-2022 school year, according to the Montana University System. Small colleges cost less than $6,000. The state of Montana has frozen tuition in 14 of the past 15 years at two-year colleges to manage the cost of educating students. Smaller colleges have had tuition freezes in 11 of the past 15 years, while flagship schools in Missoula and Bozeman have had tuition freezes in nine of the past 15 years.

GOP attorneys general ask credit card companies to rescind new gun purchase code

September 20, 2022

Montana Economy

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Nearly two dozen Republican attorneys general are pushing back against a plan by major credit card companies to add a new code to categorize gun sales, saying it would do more harm than good.

The policy change from Visa, Mastercard and American Express was celebrated by gun control activists last week as a way to flag suspicious sales, but attorneys general say it misses the mark on security public and targets gun owners, the wall street journal reported Tuesday.

VISA JOINS MASTERCARD AND AMEX IN ARMY SALES CATEGORY

Semi-automatic handguns are displayed at Duke’s Sport Shop, Wednesday, March 25, 2020, in New Castle, Pa.

(Keith Srakocic/AP)

“The categorization of the constitutionally protected right to purchase firearms unfairly targets law-abiding merchants and consumers,” attorneys general from 23 states wrote in a letter to the credit card companies.

Gun control advocates have urged the financial industry to play its part in helping curb mass shootings.

Gun rights groups have argued that the new code system punishes gun buyers and violates their Second Amendment rights.

Tennessee Attorney General Jonathan Skrmetti and Montana Attorney General Austin Knudsen are leading the campaign to get the credit card companies to back down.

“We will mobilize the full extent of our legal authority to protect our citizens and consumers from unlawful attempts to infringe on their constitutional rights,” their letter read.

CLICK HERE TO LEARN MORE ABOUT THE WASHINGTON EXAMINER

Visa, Mastercard and American Express said the new codes would not infringe on anyone’s freedoms and said they would not block any purchases based strictly on the type of merchant code attached.

Sean Pahut, financial consultant at Montana Wealth Management, was interviewed on a podcast about working with a financial broker versus a financial planning advisor

September 20, 2022

Montana Mortgages

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Sean Pahut explains how Montana Wealth Management aims to build trust around financial planning by using their experienced advisors to create a personalized plan designed to best support their clients’ financial, family and life goals. Whether it’s a new empty nest, a wedding, a divorce, a move, a big promotion at work, aging parents, the sale of a business or the creating a new… change is inevitable.

Listen to the interview on the Business Innovators Radio Network:

Interview with Sean Pahut, Financial Consultant with Montana Wealth Management Discussing Working with a Financial Broker vs Financial Planning Advisor

A financial broker is someone who helps clients buy or sell financial products. They work with various financial institutions to get the best deal for their clients. Financial brokers can provide a wide range of services, including investment advice, insurance products and mortgage financing.

A financial planner is someone who helps clients create long-term financial plans. They will consider their current financial situation, goals, and risk tolerance to develop a plan that outlines how they can work to achieve their financial goals. Financial planners can also provide investment, retirement and estate planning advice.

Pahut said, “While financial brokers and financial planners can provide valuable services, there are some key differences you should be aware of. One of the most important differences is that financial planners are fiduciaries. This means they are legally bound to act in your best interests, which aligns their incentives with yours and helps ensure they provide personalized advice. Financial brokers, on the other hand, are not trustees. Trustees must adhere to a strict code of ethics. This helps to ensure that they provide high quality services.

Pahut says: “For more than 25 years, I have been helping my clients solve their financial problems and develop sound strategies by focusing on the specific needs of each one. My practice is founded on a commitment to my clients to follow a refined process, as I believe this is the foundation of a successful, long-term relationship. I work with qualified individuals, families and businesses to provide integrated wealth management and planning services. Integrity, personalized advice, attention to detail and an unwavering commitment to the well-being of my clients are the hallmarks of my service process.

About Sean Pahut

Sean earned his finance degree from Carroll College in Helena, MT and holds Series 7, 63 and 66 registrations through LPL Financial and a Montana insurance license. Giving back to the community is important to him. He was LT. Governor at Kiwanis previously served on the board of directors of Marias Medical Center and volunteered as a wrestling and baseball coach. He and his wife have two children and live in Great Falls, where they are active in their children’s school and sports activities.

Learn more: https://montanawm.com/

Other recent stories:

Discuss the benefits of being an Independent Financial Professional

https://authoritypresswire.com/sean-pahut-a-financial-consultant-with-montana-wealth-management-was-interviewed-on-podcast-about-how-the-benefits-of-being-an-independent- financial-professional/

Securities and advisory services are offered by LPL Financial, a registered investment adviser, Member FINRA/SIPC. The opinions expressed in this recording are for general information only and are not intended to provide specific advice or recommendations to any individual. To determine which strategies or investments might be right for you, consult the appropriate qualified professional before making a decision. Any investment involves risk, including loss of principal. No strategy guarantees success or protects against loss. There is no guarantee that a diversified portfolio will improve overall returns or outperform an undiversified portfolio. Diversification does not protect against market risk. The economic forecasts presented herein may not develop as expected and there can be no guarantee that the strategies promoted will be successful.

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Montana allows transgender people to change their birth certificate

September 19, 2022

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HELEN, Mont. (AP) — After months of defiance, the Montana Department of Health said it would follow a judge’s ruling and temporarily allow transgender people to change gender on their birth certificates.

In an order written Monday morning, the judge said state health officials committed “calculated violations” of his order earlier this year to temporarily stop enforcing a state law that would prevent transgender people to change sex on their birth certificate.

The health department passed a rule that no one could change the sex on their birth certificate unless there was a clerical error. Under the order, transgender residents can obtain a corrected birth certificate by submitting a sworn affidavit to the health department.

THIS IS A BREAKING NEWS UPDATE. AP’s previous story follows below.

HELEN, Mont. (AP) — A Montana judge issued a scathing ruling on Monday saying state health officials committed “calculated violations” of his order to temporarily stop enforcing a law aimed at keeping transgender people out to change sex on their birth certificate unless they have undergone surgery.

District Judge Michael Moses said he would quickly consider contempt motions based on continued violations of his April order, which he clarified in a verbal order at a hearing Thursday. Just hours after that hearing, the Republican-led state said it would defy the order.

At Thursday’s hearing, state attorneys argued that blocking the law does not prevent the health department from enacting new administrative rules.

The state, Moses wrote, engaged “in unnecessary legal gymnastics in an attempt to rationalize their actions and calculated violations of order.” He called the state’s interpretation of his earlier order “grossly ridiculous.”

The state Department of Public Health and Human Services and the attorney general’s office did not immediately respond to an email Monday seeking comment.

“It’s up to the department to comply with the order and if they don’t, the consequences are clear,” said Alex Rate, attorney for the American Civil Liberties Union of Montana, which represents the two transgender plaintiffs who want to change the gender marker on their birth certificates.

In April, Moses temporarily blocked a law passed by the Republican-controlled 2021 legislature that would require transgender residents to undergo surgery and obtain a court order before they could change their sex on their birth certificate. He said the law, which did not specify what type of surgery would be required, was unconstitutionally vague.

Rather than revert to a 2017 rule that allowed transgender residents to file an affidavit with the health department to correct the gender on their birth certificate, the state instead issued a rule stating that a person’s gender couldn’t be changed at all, unless there was a desk. Mistake.

The health department “has refused to issue birth certificate corrections for weeks in violation of the order,” Moses wrote.

The ACLU of Montana had sought judicial clarification due to state inaction.

Moses’ order on Monday included a copy of the 2017 rules.

“If the defendants need further clarification, they are encouraged to seek it from the court rather than engaging in activities that constitute unlawful breaches of the order,” Moses wrote.

Such an open challenge to a judge’s order is highly unusual from a government agency, said Carl Tobias, a former professor at the University of Montana Law School, now at the University of Richmond. . When officials disagree with a decision, the typical response is to appeal to a higher court, he said.

“Appeal is what you envision – not that you can overrule a judge’s orders. Otherwise people just wouldn’t obey the law,” Tobias said Thursday. “The system can’t work in this way.”‘

The legal dispute comes as conservative lawmakers in many states, including Montana, have sought to restrict transgender rights, including banning transgender girls from participating in girls’ school sports. Another Montana judge ruled last week that a law passed by state lawmakers to bar transgender women from competing on women’s collegiate sports teams was unconstitutional.

___

Associated Press reporter Matthew Brown in Billings, Montana, contributed to this story.

Black bear spotted in Upper Miller Creek neighborhood

September 18, 2022

Montana Economy

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This reporter and his wife were driving up St. Francis Drive and heading towards the intersection of St. Thomas Drive in the Upper Miller Creek area around 3:00 p.m. Sunday when we spotted a small black bear crossing the road and into a large lot belonging to one of our neighbors.

As we pulled off the road and called 9-1-1, the bear ran as fast as he could across the large lawn.

A large family group with a good-sized dog also spotted the bear, which ran from the yard until it was out of sight.

There are many houses in the area and many have large gardens and apple trees.

Since the bear was not acting threatening and was obviously trying to get away from people in the area as quickly as possible, 9-1-1 advised us to report to Missoula Bears dot org, this that we did.

According to Montana Fish, Wildlife and Parks bear specialist Jamie Jonkel, who recently spoke to KGVO News about such encounters, the bears are having a hard time finding enough food to prepare for their winter hibernation.

Jonkel took a very serious tone when discussing the bear problem in western Montana at this time, as the entire region was experiencing a “food shortage”.

“Right now we do have an ongoing food shortage,” he said. “We have black bears and grizzly bears all over region two, even in the Kalispell and Bozeman area. As a result, we have a lot of bears behaving a bit uncharacteristically. Either they totally ignore us or they try to get our apples. They try to get our hawthorn berries in the garden and if you have garbage there they will try to get your garbage.

Jonkel said the bears in particular were desperately hungry as they prepared for hibernation.

“Now this year, it’s so important from now on that everyone has all their attractions locked up, but they also have to be a little patient because the bears are desperate,” he said. “So if you have a crabapple tree and you live near a mountain or a stream, you’re going to have bears in your yard. It’s been a bad year for bears. So call us with information, but also be patient and realize that they are hurting and doing things a little differently this year.

If you see a bear in a residential area, report it to Missoula Bears dot org, or if the bear or any predator is acting threatening, call 9-1-1.

RANKED: Here are the most popular national parks

To determine the most popular national parks in the United States, Stacker compiled National Park Service data on the number of recreational visits to each site in 2020. Keep reading to discover the 50 most popular national parks in the United States , in reverse order from #50 to #1. And be sure to check with individual parks before your visit for current pandemic-related safety precautions at www.nps.gov/coronavirus.

Get to know Missoula from A to Z

All about Missoula, Montana.

Ousted: the housing crisis weighs heavily on the West | Local News

September 18, 2022

Montana Mortgages

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ABOUT THIS SERIES: Across the West, the costs associated with renting or buying a property have skyrocketed, forcing individuals and families to make tough decisions about what a home should look like in a volatile market. The median asking price for rent in the United States recently topped $2,000 for the first time ever, and the cost of buying a home has soared as much as 25% in some cities in the past year alone . These increases have pushed the housing crisis in the West to breaking point, making the American dream of stable housing accessible to fewer and fewer families and individuals. This series, Squeezed Out, observes the current state of the housing market and the challenges it presents to renters and buyers, as well as possible solutions to the problems. More than a dozen reporters, photographers and editors from Lee Enterprises locations across the West contributed to this series.

EXHAUSTED :

In Western cities, the average purchase price has climbed 25% over the past year, pushing the American dream of homeownership even further out of reach.

It’s the worst of both worlds: even though the historic rise in house prices is slowing, prices remain high and interest rates rise. As a result, middle-class homebuyers are already struggling to find a home they can afford in a place they want to live in the face of even tougher times.

They are competing with cash-rich investors who don’t need mortgages and are finding fewer new homes to choose from as homebuilders slack off on new construction.

TENANT PAIN:


Tenant pain: The brunt of the housing crisis is hitting people who aren't even looking to buy a house

Across the West, renters are being displaced when their apartments are converted to condos or their mobile home parks are sold to developers looking for land to build on.

High house prices hurt one group that isn’t even looking to buy: renters. Western tenants are being displaced by condominium apartment complexes, mobile home parks being sold for land and rents doubling as landlords find they can attract people who have money but don’t still can’t afford to buy houses. Those who stay are seeing their monthly payments skyrocket as remote workers move in and demand increases, and potential buyers can’t find places they can afford. All of this pushed the median asking price for rent in the United States past $2,000 for the very first time.

SOLUTIONS:


How to Solve the Affordable Housing Crisis

Communities seem to have three choices: expand, grow, or stop growing.

how to bring down homand price? Spreading, filling or regulation. Building on the outskirts, where land is cheaper, allows for cheaper homes to be built, but means scraping up open land and encouraging gas mileage as homeowners drive farther. Building on existing land in town allows developers to move up when they can’t get out, but rampaging NIMBYism often makes that impossible. Affordable housing requirements can create units for renters across the city, but some states specifically prohibit them.

FIRST TIME BUYER:


In Montana's booming real estate market, a cash-strapped young buyer beats the system

After many failed attempts, here I am sitting, a young non-traditional shopper in my own home.

Rotting floors, standing water and rejected offers left a Montana house hunter frustrated and discouraged. During the short time that Amy Lynn Nelson dreamed of becoming a first-time home buyer in Billings, Montana, the housing market had changed dramatically. Her choices, she said, ranged from chicken coop to ramshackle hut. But patience and connections helped her learn to work in a tough housing system — and finally land a small-town bungalow on her own.

IN THEIR OWN WORDS:

Countless individuals and families across the West are navigating a volatile housing market. In many cities and towns, the cost of renting or owning is increasing. Tenants facing big rate hikes are being forced to move elsewhere, and potential buyers are competing with deep-pocketed investors and all-cash offers. Here’s what tenants and buyers in the West have to say about the market.

Blackfoot Nation Begins Implementation of Climate Change Adaptation Plan

September 17, 2022

Montana Economy

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The entire state has experienced some form of drought impact over the past two years, but there is no doubt that north-central Montana has experienced the most persistent and severe drought.

The Blackfoot Reservation encompasses approximately 1.5 million acres in some of the areas hardest hit by the drought. The economy of the reserve is largely based on agriculture and over 80% of the land is used for agriculture.

“The plant change is so big – we haven’t even had any berries this year. We actually have to turn around and go to a commercialized orchard,” says Terraine Edmo, Blackfeet Tribe’s climate change coordinator. The reserve faced problems with drought, extreme temperatures and early spring runoff. In 2018, the tribe released a Climate Adaptation Plan, which addresses the threats that climate change poses to the Blackfeet Nation.

The Blackfoot Climate Adaptation Plan includes 8 planning sectors, each with specific strategies and tactics, some of which are already being implemented. Planning areas include: agriculture, cultural resources and traditions, fisheries, forestry, human health, lands and ranges, water and wildlife.

The Blackfeet Tribe is the first tribe in the Pacific Northwest to execute a plan to combat the growing impacts of climate change. On Thursday, September 15, the Blackfeet Environmental Office hosted over 70 people from an assortment of local nonprofits, universities, government agencies and more to share some of these strategies, which are already integrated throughout the reserve.

Edmo explains that the tribe plans to share the process with other communities: “We wanted to protect our future and the most vulnerable populations, like our language, our animals, all our loved ones. We consider everything to be alive, everything has a spirit and With the planning process, we have kept our traditional and indigenous way of life at the fore. The drought has threatened not only the economy but also the culture of the Blackfeet tribe. Plants used in ceremonies have become more difficult to find due to the exceptionally dry conditions on the reservation.” The sweet grass that kicks off our ceremonies and the berries that we use in our ceremonies, those are really important necessities for us to carry out who we are as Piikani people,” says Terraine Edmo.

“It is a way of teaching our young students. The impacts of climate change have affected our most vulnerable populations, our young people. grandparents there. They can’t get in the landscape and teach them how to fish and hunt,” says Edmo. She also expresses that the COVID-19 pandemic has hit the reserve hard and has impacted the health of many seniors.

Although the Blackfeet Tribe have faced their share of challenges, they are rich in resilience. “We are not the catastrophic type. We are critical thinkers. We have to go fast and roll with the punches.”

Local leaders brainstorm ways to address fentanyl and mental health crisis

September 16, 2022

Montana Mortgages

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Governor Greg Gianforte met with local law enforcement, officials and mental health and addiction treatment providers in Kalispell on Thursday, where they brainstormed ways to address the fentanyl crisis and chiefs state health departments introduced a shelter program called the Montana Angel Initiative.

The initiative, which is currently being used in Yellowstone, Cascade and Lewis and Clark counties, would allow people with addictions to access law enforcement offices where authorities can connect people to treatment.

“The Angel Initiative is a partnership between the Department of Public Health as well as statewide providers and law enforcement to help increase access to treatment for those who need it. “said Ki-Ai McBride, of the Department of Health and Human Services (DPHHS). ) Opioid Prevention Program Manager. “They can ask for help by going to law enforcement if they are in possession of drugs and paraphernalia and they have the option to turn them over, get help and be connected with a supplier.”

To combat fentanyl overdoses, the state has ramped up its Narcan program, distributing 50% more anti-overdose drugs each year since 2018, which local law enforcement and emergency responders use multiple times a year. week.

“Montana law enforcement has confiscated more fentanyl in the first six months of this year than in the previous three years combined…We need to come up with a plan to deal with it,” Gianforte said during of the round table.

Flathead County Sheriff Brian Heino said his office has seen a significant increase in fentanyl and drug-related crimes, which he attributes in part to Flathead’s growing population. He also said that fentanyl primarily enters the region through the postal system and that he would like to see a solution at the federal level.

“Our mail system basically brings in drugs and narcotics and it delivers,” Heino said.

Flathead County District Attorney Travis Ahner confirmed that approximately 70 percent of the district attorney’s office cases involve drug-related crimes, many of which include property crimes and drug possession. He attributed the increase in crime in part to the pandemic, but he also pointed to changes in the 2017 legislature that reduced penalties for misdemeanors, which he said led to the rise in crime. which could otherwise have been avoided.

“There is a lack of accountability at these early stages,” Ahner said. “I think some accountability, wake-up calls, at that level of offense would help, including some of those diversion programs.”

Local mental health and addiction treatment professionals have also criticized the state’s response to numerous challenges, and Alpenglow Clinic clinical director Chad Kingery told the governor that patient treatment programs hospitalized were difficult to manage without funding, which is desperately needed to deal with the crisis.

“The tracking program is what’s broken in this state,” Kingery said.

Kingery suggested reassessing the distribution of liquor taxes to a wider range of treatment providers instead of providing funding to just one facility per county. He also highlighted the impact of challenges in the current housing market on the ability to provide hospital treatment that would require a large facility.

“I can tell you that there is no amount of clinics that I can open and there is no amount of employees who are perfect for what they do, it will generate enough of income so that we can pay the mortgage on a $2 million property.” Kingery said. “I think that kind of data extrapolates the challenges of these incredible ideas that we have — and there’s no no way to access it.”

Kalispell Mayor Mark Johnson was also frustrated with the city’s budget, which limits his ability to provide additional law enforcement services and resources within the municipality. State grants that would fund additional officers for two to three years would help in the short term, he said.

“We’re terribly behind in Montana when it comes to ways to raise taxes for law enforcement,” Johnson said. “With budgetary constraints, we cannot allocate so much.”

Gianforte told local leaders that his office would evaluate new programs and that he hoped to bring the Montana Angel Initiative to Flathead County.

Biden-Harris Administration and EPA Announce Delivery of Historic Bipartisan Infrastructure Act Water Infrastructure Funding to 18 States

September 16, 2022

Montana Loans

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WASHINGTON- Today, the United States Environmental Protection Agency (EPA) provided bipartisan Infrastructure Act funding to the nation’s first 18 states for water infrastructure improvements.

President Biden’s bipartisan Infrastructure Act allocates more than $50 billion to the EPA to repair the nation’s critical water supply infrastructure, helping communities access clean, safe and reliable drinking water, build resilience, collect and treat wastewater to protect public health, clean up pollution and safeguard vital waterways. More than $1.1 billion in bipartisan Infrastructure Act capital grants have been awarded to 18 states through the State Revolving Funds (SRF), with additional capital grants to come. The grants mark the first major distribution of funds for water infrastructure through the bipartisan Infrastructure Act. State allocations were previously announced.

“All communities should have access to clean, reliable and safe water,” said EPA Administrator Michael S. Regan. “Thanks to the leadership of President Biden and the resources of the historic bipartisan Infrastructure Act, we are repairing aging water infrastructure, replacing lead service lines, cleaning up contaminants, and making our communities more resilient to flooding and climate impacts. .”

“President Biden has been clear – we can’t leave any community behind as we rebuild America’s infrastructure with the Bipartisan Infrastructure Act,” said White House Infrastructure Coordinator Mitch Landrieu. “Because of its bipartisan Infrastructure Act, nearly half of the SRF’s incremental funding will now be in the form of grants or forgivable loans, making it easier to access these critical water resources for small, rural and disadvantaged communities. .”

EPA SRFs are part of President Biden Justice40 Initiative, which aims to provide at least 40% of the benefits of certain federal programs to underserved communities. In addition, nearly half of the funding available through SRFs through the Bipartisan Infrastructure Act is to be principal forgiveness grants or loans that remove barriers to investing in critical water infrastructure in underserved communities. served across rural America and in urban centers.

The EPA has awarded SRF capital grants to 18 states, including: Arizona, Colorado, Connecticut, Delaware, Hawaii, Maine, Maryland, Massachusetts, Montana, New Hampshire, New Mexico, Pennsylvania, Rhode Island, Utah, Vermont, Virginia, Washington and West Virginia.

The funding announced today represents FY22 rewards for states that submitted and received EPA approval for their funding utilization plans. Capital grants will continue to be awarded, on a rolling, state-by-state basis, as more states receive approval throughout FY22; states will also receive awards over the next four years. Once the grants are awarded, state programs will begin providing the funds in the form of grants and loans to communities in their state.

The bipartisan infrastructure law presents the biggest funding opportunity ever to invest in water infrastructure. To learn more about Bipartisan Infrastructure Act programs and other programs that help communities manage their water resources, see the EPA’s Bipartisan Infrastructure Act page.

SouthCoast retailers are hoping for the best this holiday season

September 16, 2022

Montana Lending

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You may have noticed the “C” word creeping into more and more conversations as the summer of 2022 fades and the chill of fall fills the air. Christmas is approaching and local merchants are holding their collective breath after two years of the COVID pandemic and are now recording inflation.

Many retailers, including local family businesses, rely heavily on the holiday shopping season. For some, it can be the difference between living to fight another day and winding up.

SouthCoast retailers are hoping for the best this holiday season

Dan McCready/Townsquare Media

SouthCoast Chamber of Commerce President Rick Kidder said, “We look forward to a robust holiday shopping season, but need to keep a close eye on inflationary pressures and economic indicators. One thing we know is that ‘local shopping’ supports the local economy.”

There are, however, good reasons to be nervous. A CNBC headline proclaimed: “Holiday shopping season should be muted, as inflation squeezes buyers.”

CNBC reported that while consumers will likely spend more this year than last, the increase will likely be much smaller when adjusted for inflation.

SouthCoast retailers are hoping for the best this holiday season

Barry Richard/Townsquare Media

SouthCoast retailers are hoping for the best this holiday season

Barry Richard/Townsquare Media

Fortune reported that the forecasts of “accounting giant” Deloitte a slowdown in spending growth.

The National Retail Federation (NRF) said more and more people are start their holiday shopping earlier than ever and they are looking for bargains. The NRF said there was a good chance they would find them.

Kidder urged shoppers to consider their local retailer when shopping for holiday gifts.

“The pandemic, along with other price pressures, has made people more conditioned to shopping online, but local shopping means local jobs and local service commitments,” he said.

SouthCoast retailers are hoping for the best this holiday season

Barry Richard/Townsquare Media

Kidder said it was a particularly difficult time for local traders.

“Overall growth has been slow, and many businesses are facing labor shortages, the challenge of rising wages, and now inflation and supply issues,” he said. declared. “Prices are going up, wages are going up, but companies are under pressure to afford those increases, which is creating an inflation spiral.”

Dan McCready/Townsquare Media

Dan McCready/Townsquare Media

Ian Abreu, Business Development Manager and Chairman of the Southcoast Chamber of Commerce Council, echoed the drive to buy local.

“According to the Small Business Administration, of every $100 spent on a local small business, approximately $50 is returned to the local economy in the form of wages and salaries, tax revenue and local purchases of services,” said he declared. said.

“When you shop at a local family store, you’re helping someone who actually lives in our community, who provides top-notch service,” he said. “You’re helping a neighbor, a friend, a Little League baseball team sponsor – someone who’s invested in us.”

Beware of these 50 jobs that could disappear in the next 50 years

WATCH: States with the most new small businesses per capita

Stop Punishing Employers Who Want to Help Employees With Free Gas, Meals, or Child Care

September 15, 2022

Montana Loans

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Employers are struggling to fill more than 11 million open jobs. Employees struggle to pay for childcare, gas, and even food. And then there’s the struggle to repay those student loans for many Americans.

I have a solution: Employers could offer benefits – voluntary, not mandatory – such as free or subsidized child care, elder care, public transport, gas, meals, reimbursement of student loans or tuition fees.

Employers will attract new employees to the job market. Employees receive help to overcome challenges related to high gas prices, high inflation and unpaid student loans. A win-win.

SMALL BUSINESSES FACING THE HEADWINDS OF INFLATION ARE FINDING NEW WAYS TO HOLD ON

But there is a huge roadblock called the Fair Labor Standards Act (and most state laws) that currently requires employers to pay additional overtime on the value of these employee benefits.

Yes, it’s true. Most people think of overtime pay as time and a half of an employee’s hourly rate. It’s not. Overtime is calculated as 1.5 times an employee’s “regular rate of pay”. “Standard rate” is defined in the RSA as “all remuneration for employment” unless specifically excluded under section 7(e) of the Act. What this means in real English is 1.5 times all things of value – hourly wages, salary, commissions, bonuses, anything – that an employer gives its employees for their work.

Payments for health, accident and life insurance are excluded from the 1.5 calculation under the law, as are pension benefits. But that’s all; most other employee benefits trigger the overtime requirement. The definition of the regular rate and this list of excluded benefits were added to the FLSA in 1949. It’s time for an update.

Today’s employee wants, needs and demands more than just an hourly wage. Health insurance and vacation pay are important and do not count towards overtime. But this old, outdated list of excluded benefits prevents employers from giving more benefits to employees.

HARD ROCK AND SEMINOLE GAMING INVEST $100M TO INCREASE STARTING SALARY FOR US EMPLOYEES

Few employers offer childcare, student loan repayment or transportation allowances. The threat of litigation and additional overtime obligations are stifling innovation in employee benefits. A Montana employer has lost a lawsuit for failing to pay overtime when it offered its employees public transportation subsidies. A California employer has settled an overtime lawsuit for the sin of student loan repayment.

The federal government recognizes the value of these benefits and provides them to its own employees. The Department of Labor, for example, provides its own employees with child care subsidies or on-site child care, dependent benefits, tuition reimbursement, fitness centers physical training, subsidies for public transit and a “bicycle travel reimbursement grant”.

But, of course, the federal government doesn’t have to pay overtime for these benefits like private employers do. No, the federal government does not use the “regular rate” formula; overtime for federal employees is limited to 1.5 times their hourly rate.

It is time and already more than time to apply the calculation of overtime for federal employees to private sector employees as well. We need to stop punishing employers who want to offer employees free childcare, free meals, free gas, or free training by allowing the plaintiffs’ bar to sue them for such good deeds.

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The Trump Administration made some progress in dismantling the FLSA’s perverse incentives, in one of the few regulations that were not quickly removed by the new Biden-led Labor Department. The Trump regulations clarified that employers did not have to pay additional overtime on unused sick leave payouts, military leave payouts, the value of wellness programs, property discounts and services provided by the employer and certain signing bonuses.

These regulations, however, did not and could not go far enough because the Department of Labor believed it was limited by the wording of the FLSA itself. Subsidies for public transit, free meals and child care continue to require payment of additional overtime. Whether overtime is due on student loan repayments and other educational benefits remains unclear, depending on the facts and circumstances of each program.

Recently, Representatives Elise Stefanik, RN.Y., Henry Cuellar, D-Texas, and Michelle Steel, R-Calif., introduced a bill to pave the way for employers to provide employees with free or subsidized childcare and elderly care.

FILE – Representative Elise Stefanik, Republican of New York and President of the Republican House Conference, speaks during a press conference at the United States Capitol in Washington, DC, U.S., Thursday, May 20, 2021. (Photographer: Samuel Corum/Bloomberg via Getty Images/Getty Images)

It’s a very short piece of legislation, HR 8388, the Empowering Employer Child Care & Elder Act, which would exclude “payments for child care or dependent care reimbursements” from this definition of the “normal rate” in the FLSA.

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Every Democrat and Republican in the House and Senate should sign up and push through this bipartisan bill quickly.

State Governors and lawmakers should do the same under state law. How could any of our elected officials object to voluntary, employer-funded child care?

With respect, however, I must suggest that HR 8388 does not go far enough. Yes, excluding payments for child and elderly care from the calculation of 1.5 overtime hours is an important first step. But let’s also stop punishing employers who want to help their employees with free gas or free meals or who want to pay off their employees’ student loans.

Incredible benefits offered voluntarily by employers to get people back to work. Voluntary, not mandatory, and not paid for by another taxpayer-funded program.

Come on man, let’s get to work!

Tammy McCutchen served as Administrator of Wages and Hours at the Department of Labor under President George W. Bush.

Student app is hacked, sending crude image to some New York schools

September 14, 2022

Montana Economy

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Seesaw is an app that empowers students to learn and engage in creative educational activities while giving teachers and parents insight into each student’s progress and thinking. The app has become particularly popular in recent years and is used by around 10 million students, teachers and parents, according to their website.

However, parents say the platform was hacked on Wednesday as some school districts in New York saw an explicit image posted in a message. NBC says districts in Oklahoma, Illinois and Texas were also affected.

hacker attack

Seesaw’s vice president of marketing said in an email that “specific user accounts were compromised by an outside actor,” though they didn’t say how many users were actually affected. A second email said the person or others involved had hacked into individual accounts, and not getting administrative access or Seesaw.

NBC says Castleton Elementary School, in Castleton-on-Hudson, had stated on its website that there was evidence of a security breach.

NBC says the image posted was an “infamous photo meme of a man engaged in an explicit act.” Vice News has obtained a screenshot of the image, revealing the ugly photo to the world.

Mayor de Blasio’s Snitch line is hit

At the start of COVID, New York City Mayor Bill de Blasio set up a social distancing advice line for New Yorkers to report group gatherings and other violations to hopefully help to flatten the curve in the fight against COVID-19. Well, that didn’t go so well. Some people may not be too enthusiastic about reporting their friends and neighbors. or maybe we’re going crazy.

The NY Post reports that the anonymous whistleblower line has been bombarded and trolled with a series of photos of penises, photos of people with middle fingers, Hitler memes and other rude messages.

Some other witty entries included photos of Mayor De Blasio dropping the Staten Island Groundhog in 2014,

The Post says it’s uncertain whether any of the vulgar photos and comments are from people who actually lived in New York. No woman named Karen could be reached for comment at this time. Well, at least he tried.

WATCH: States with the most new small businesses per capita

Records show investors own hundreds of homes in the Boise area

September 14, 2022

Montana Mortgages

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Who are these investors in Treasure Valley? How many of them are Idahoans looking for extra income, and how many are tied to out-of-state interests profiting from the housing boom?

BoiseDev has spent the past four months digging through hundreds of real estate property records in Ada and Canyon counties, seeking investors to learn more about homeowners in our neighborhoods and where they are located. . This analysis is not a complete picture of every investor or owner in Treasure Valley due to the large number of records to review. Yet it revealed the prevalence of large-scale investor-owned properties, particularly in the outer suburbs of Treasure Valley.

Records reveal at least more than 400 single-family homes in Treasure Valley owned by out-of-state investors, with the vast majority owned by publicly traded California company American Homes 4 Rent.

Are houses a new investment asset class?

It’s not just in Idaho, where investment companies have taken hold, fundamentally changing the real estate market.

A months-long survey by the Charlotte Observer revealed the extent of the real estate holdings of Wall Street-backed companies in North Carolina earlier this year. A team of reporters uncovered 40,000 properties statewide owned by less than two dozen deep-pocketed investment firms.

The United States has no laws preventing private companies or individual investors seeking to expand their holdings from buying as many single-family homes as they want. Nothing about this change in the market is illegal, but it changes the dynamics of how supply and demand shape prices as growing families bid against Wall Street firms that can afford to pay. in cash, thousands more than the asking price of the houses.

Steven Peterson, clinical associate professor of economics at the University of Idaho, says investing in out-of-state real estate isn’t a negative thing on the face of it because it can help build more houses to accommodate a growing population. But, he said, problems arise when investment firms buy homes to boost profits without building more.

“What worries me is that they treat it like an asset class of investments, like a stock-like investment,” he said. “I don’t see on the surface how that leads to increased availability.”

He said it made the real estate market more sensitive to stock market boom and bust cycles, and it took homes away from the market for families to buy. But, even as economic forecasts point to a potential recession, Peterson warned anyone against hoping for a Wall Street crash, believing it would free up some of those investor-owned properties and make it easier to buy homes. a home for average Americans.

Peterson said that unless officials relax zoning laws and allow new homes to be built to address the nation’s growing housing shortage, these homes will continue to be valuable assets for these businesses. and prices will continue to rise.

“We can easily have a recession, and that has no effect on this problem,” he said. “You have to be very careful what you wish for. Recessions are generally not good things because they cause a lot of economic stress.

Small and large investors

BoiseDev’s research revealed three loosely defined groups of investors populating Treasure Valley neighborhoods.

The first group is what people generally refer to as “mommy-and-pop” owners. The vast majority of properties BoiseDev reviewed linked to LLCs on the Boise Bench and North End were linked to people who live in Treasure Valley and own one or possibly two properties. These properties could provide additional income for someone who lives locally or was originally purchased as a first home decades ago and is now rented out.

An aerial view of homes at Locust Grove Rd and Ustick Rd. in Meridian Photo: Charles Knowles/Shutterstock

The second class of investors operating in Treasure Valley are based out of state and own more than one or two properties. That includes outfits like investment firm WTS Investments LLC, which owns ten homes in Canyon County. The company is based in Houston and is linked to Tanweer Ahmed, the CEO of catering company PAK Foods. WTS purchased all ten properties on the same day in 2011.

Another example is Elco Enterprises LLC, which owns 15 properties in Ada County. He is associated with a large family home in Billings, Montana. The LLC, which is now listed as missing with the Idaho Secretary of State, is linked to Billings-based trucking company owner Carl Baltrusch. Sunset West LLC, which owns three properties in Ada County and is tied to a law firm in Cedar City, Utah, specializes in forming LLCs and is a registered agent for businesses. Public records do not reveal the direct owner.

Wall Street joins Main Street

Operations like publicly traded American Homes 4 Rent are on a different scale than any of these other companies or people who manage rental properties.

The company was one of the first major public companies to invest heavily in single-family homes about a decade ago. Since then, American Homes 4 Rent has amassed tens of thousands of homes across the country. A June filing by the US Security Exchange Commission said the company owned 57,000 homes in 22 states. The report noted a high concentration of ownership in cities like Atlanta, Dallas and Charlotte.

“American Homes 4 Rent is transforming the single-family rental industry,” American Homes 4 Rent CEO David Singelyn said in a video on the company’s website.

Public real estate records show American Homes 4 Rent owns 443 properties in Ada and Canyon counties, including 344 in Idaho’s largest county. Most homes are located in the once affordable outer suburbs of Kuna, Star, Meridian and unincorporated Ada County. For example, in a Star subdivision with 214 homes, seven are owned by American Homes 4 Rent.

A screenshot of homes available for rent in a Kuna subdivision by American Homes 4 Rent

These homes are often for rent in nondescript suburban neighborhoods with backyards and the typical amenities common to any subdivision. The average company-owned home is 17 years old and just under 2,000 square feet. They rent for an average of $1,856 per month, which is roughly equivalent to the mortgage payment for a $375,000 home with an interest rate of 4.25% on a 30-year mortgage. Kuna homes listed on the company’s website are rented for at least $2,300 per month.

And these are only the houses purchased by American Homes 4 Rent that already exist. The company has now shifted to building housing estates for rental. American Homes 4 Rent expects to bring between 2,100 and 2,400 new homes for rent online by the end of 2022. The company’s SEC filings boast of a “land pipeline of more than 20 000 units” that creates “years of growth stability” for potential investors to consider.

One of these subdivisions is expected to rise on the site once planned for a school in the Boise Independent School District. The school district opted to sell the land instead, and the highest bidder was AMH Development, the homebuilding arm of American Homes 4 Rent, for $6.3 million earlier this year.

“You don’t even know who to contact”

Investor-owned rentals are a whole different ballgame for eviction prevention nonprofit Jesse Tree.

Executive director Ali Rabe said his nonprofit’s strategy to help prevent evictions is to negotiate with landlords and use a combination of rental assistance and case management to resolve the issue for the customer. This gets complicated when tenants live in rentals owned by investors who have no relationship with their tenants and who might just be looking to move on to the next tenant.

“Communication is a lot more of a challenge for us with these companies and then they’re running a lot more on the books when it comes to evictions,” Rabe said. “Whereas family owners will treat each situation differently. These big companies will just hire a contract attorney who they will pay on contract rather than on a case by case basis, and if a tenant doesn’t pay their rent they will give them 3 days notice to pay or vacate, and they will file in front of the court, and there is no opportunity to have a conversation.

Notice of eviction
Notice of eviction

Rabe told several stories of clients facing evictions from out-of-state investment firms, including a woman who was taken to court while in hospice and the owner didn’t know. She once spent an entire afternoon on hold with American Homes 4 Rent trying to talk to someone at the company about a family of five who were evicted from a mobile home that the company Purchased in Canyon County with only notices in the mail and no further tracking. at the top.

“We’re actually pulling eviction court records to identify the major evictions, and a lot of them are these big corporations that are coming into Idaho and buying up a lot of multifamily units,” Rabe said. “You don’t even know who to contact.

Homebuyer Education Course Enrollment Open

September 14, 2022

Montana Lending

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The Community Action Partnership of Northwest Montana (CAPNM) is once again presenting HUD-approved in-person classes for homebuyers at its Kalispell location on Main Street. The first class is scheduled for Saturday, October 8, from 8:30 a.m. to 6 p.m. The cost is $75 per household; however, scholarships are available by contacting Sara Briggs. All registration materials with payment must be received no later than September 28 at 5 p.m.

Registration packages are available by contacting [email protected], or by visiting the website at www.capnm.net and clicking on “Workshops” then “Homebuyer Education”. Click on the button to access the admission file.

All admissions packages must be completed and returned no later than 5 p.m. September 28 to CAPNM at 214 Main St. in Kalispell, by email to [email protected] (use PDF attachments) or by fax to 406 -565-4834, or by mail to Sara Briggs, CAPNM, PO Box 88, Kalispell, MT 59903. A check or cash must also be received by 5 p.m. to complete registration.

Once the admission package is received, an individual counseling session required by HUD must be scheduled. Normally, this session takes place before the course is held. The schedule for consultation sessions is flexible. Registrants can choose to have it over the phone or in person; it takes about an hour.

During the course, enrollees will meet and be able to interact with several area lenders and other professionals such as real estate agents, insurance agents, building inspectors, etc. Completion of this course and individual counseling session is one of the key elements to qualifying for various loan products and down payment assistance programs.

US Hybrid to supply hybrid and electric street sweeper components

September 13, 2022

Montana Economy

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Ideanomics announced plans for its US subsidiary Hybrid to Global Environmental Products with its proprietary electric and hybrid drive kits to be used in building 62 zero-emission street sweepers. GEP will then supply the sweepers to New York, California, the city of Helena, Montana and Washington D.C.

The two companies GEP and US Hybrid have also cooperated in the past: dating back to 2009, the two companies launched their first hybrid electric street sweepers in New York. Meanwhile, the partners have also served customers in Japan. US Hybrid has also supplied a number of electric transit vans for public transportation operator Antelope Valley Transit Authority in California.

Regarding the breakdown of the order, GEP will supply 17 electric street sweepers to the California Department of Transportation. 30 plug-in hybrid electric street sweepers and seven all-electric street sweepers will go to New York, while the other all-electric street sweepers include two for the city of South San Francisco, three for Washington DC and two for the City of Helena , Montana.

“Together with GEP, we provide our customers across the United States with American-made zero-emission street sweepers featuring the best available technology pioneered by US Hybrid,” said Robin Mackie, president of Ideanomics Mobility. “This order, one of the largest to date, reflects a simple truth: zero-emission street sweepers are better for planet, communities and bottom line. Plus, every order supports the growth of America’s clean energy economy and green manufacturing jobs.

prnewswire.com

Wall Street rallies further ahead of inflation report | national news

September 12, 2022

Montana Mortgages

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By DAMIAN J. TROIS and STAN CHOE – AP Business Writers

NEW YORK (AP) — Stocks soared again on Monday as Wall Street took its final steps ahead of a high-stakes report that will hopefully show inflation hitting the economy less hard last month. .

The S&P 500 rose 43.05, or 1.1%, to 4,110.41 for its fourth straight gain. It is his longest winning streak since July, at the start of the market’s rebound from his blows earlier in the year.

The Dow Jones Industrial Average gained 229.63, or 0.7%, to 32,381.34, and the Nasdaq composite rose 154.10, or 1.3%, to 12,266.41.

The country’s extremely high inflation and the actions taken by the Federal Reserve to combat it have been the driving forces on Wall Street all year. Economists expect a report on Tuesday to show consumer prices were 8.1% higher in August than a year earlier, but inflation was not as bad as the rate 8.5% from July.

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A slowdown would bolster hopes that inflation peaked at 9.1% in June and is now coming down. This in turn could allow the Federal Reserve to avoid the worst-case scenario for the markets, where it would drive short-term interest rates up to recession-provoking levels and keep them there for a long time.

“This week is going to be very revealing,” said James Demmert, founder and managing partner of Main Street Research.

Beyond Tuesday’s headline consumer inflation report, a report on Wednesday is expected to show that wholesale inflation slowed last month. A report the following day will show how US households have shifted their spending amid high inflation, while a report on Friday will show how much inflation households are bracing for in the years to come.

These are all crucial data points for the Federal Reserve as it considers how much to raise interest rates at its meeting next week. Fed officials recently loudly reaffirmed their intention to raise rates enough to slow the economy, as well as their commitment to keep rates high long enough to ensure that the job gets done on inflation.

But with Tuesday’s report possibly continuing a trend, many investors and economists are hoping inflation could quickly return to more “normal” levels, unlike the 1970s, when it took many years.

Jonathan Golub, chief US equity strategist at Credit Suisse, wrote in a report that investors and economists expect inflation to plummet in the next 12 to 18 months.

Markets are fairly confident that the Fed will raise its main short-term interest rate by 0.75 percentage points next week for the third meeting in a row. But the hope is that a slowdown in inflation will allow the Federal Reserve to successfully follow the narrow path of a “soft landing” for the economy.

This is where higher rates slow the economy enough to halt inflation, but not so much as to cause a major recession. Higher rates hurt the economy by making it more expensive to buy a house, car, or anything else purchased on credit. They also drive down the prices of stocks, bonds, and other investments.

Many traders expect the Fed to begin tapering the size of its rate hikes after next week through the end of the year, before potentially holding rates steady through the first half of 2023.

Of course, such hopes could also lead to disappointment on Wall Street. The economy has already given evasions on inflation, with the hope that a peak has passed to start accelerating again.

Demmert said the broader market expects inflation to not only peak, but to begin to cool significantly. He said the high hopes raised by Tuesday’s inflation report “likely won’t be healthy for equities.”

Wall Street economists are still divided on whether the US economy will slide into recession next year due to higher interest rates and other factors.

The Fed has already raised short-term rates four times this year, and its aggressive moves have helped the value of the US dollar soar against many other foreign currencies.

A strong dollar helps limit inflation in the country by lowering the prices of raw materials and imports, but it can also hurt the profits of American companies that make many sales abroad. The dollar gave up some of its gains on Monday after slipping against the euro, sterling and several others.

Treasury returns were mixed. The 10-year Treasury yield, which helps control the direction mortgages and other lending rates are heading, is back at 3.34%, near its highest level in more than a decade.

The two-year yield, which tends to track Fed action expectations, was flat at 3.56%. It remains close to its highest level since before the 2008 financial crisis.

On the stock market, the vast majority of stocks rebounded. Energy producers were near the top of the rankings, benefiting from higher oil prices.

Bristol-Myers Squibb gained 3.1% for one of the largest gains in the S&P 500 after federal regulators approved its treatment for adults with moderate to severe plaque psoriasis.

AP Economics Writer Christopher Rugaber contributed.

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