Commerce – EAU Bio http://eau-bio.com/ Wed, 20 Oct 2021 08:11:13 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://eau-bio.com/wp-content/uploads/2021/05/cropped-icon-32x32.png Commerce – EAU Bio http://eau-bio.com/ 32 32 NOI MGT Captain Sharrieffah Muhammad dies https://eau-bio.com/noi-mgt-captain-sharrieffah-muhammad-dies/ https://eau-bio.com/noi-mgt-captain-sharrieffah-muhammad-dies/#respond Thu, 11 Mar 2021 06:15:06 +0000 https://eau-bio.com/noi-mgt-captain-sharrieffah-muhammad-dies/
Queen of the South: NOI Captain Sharrieffah Muhammad dies Photo: https://new.finalcall.com/2020/09/15/honoring-a-saint-scholar-and-warrior-sister-sharrieffah-muhammad/

She has been described as a saint and a warrior.

The Nation of Islam mourns the loss of Sister Sharrieffah Muhammad, one of the main captains of the Muslim Girls’ Education of the Nation of Islam.

Muhammad was buried on September 11 at the Willie Watkins Funeral Home in Atlanta.

“The great work, life, legacy and impact of Sister Captain Emeritus Sharrieffah Muhammad is immeasurable. She was a wife, mother, sister, aunt, grandmother, believer, soldier, servant, Muslim and follower of the Right Honorable Elijah Muhammad under the leadership of Minister Farrakhan ”, The final call written in his obituary.

Sharrieffah was battling persistent health issues with his kidneys and heart. She died on September 8.

Naeemah Muhammad, captain of the national student class of Muslim girls training and general civilization of the Nation of Islam, said: “I can never thank Allah enough for the precious and priceless gift He has given us in the person of Sister Sharrieffah Muhammad. As the MGT National Student Captain, I am especially grateful for the blessing of his life. Sister Sharrieffah Muhammad was a beloved sister and a mighty soldier to our nation… Her deep work among us endures and will impact our lives for many generations to come.

Sharrieffah Muhammad was the sister of NOI Minister Jamil Muhammad.

She “embodied the balance between the expression of a highly civilized femininity and an intensely cultivated focus,” said Jamil Muhammad.

She was born Stephanie Lenora Ball in Cincinnati, Ohio. As a child, she got involved in the performing arts. She did classical dance, learned to love the theater, and performed in plays. She also loved to read and entered competitions, was the captain of her high school cheerleader team, the prom queen, and performed with music legend James Brown.

Her son Joshua said, “My mom believed in the power of art and culture because it freed you to be who you are.

She left home after graduating from high school to attend Wilberforce University, an HBCU, where she studied political science and liberal arts. During her early years at university, her brother Jamil introduced her to Islam. At the age of 18, she joined the Nation of Islam in 1979 in Washington, DC. She married student minister Abdul Sharrieff Muhammad. They were married for 39 years.

Sharrieffah eventually became the MGT Vanguard national captain and went on to be an ultimate coach of women in Islam.

Listen to GHOGH with Jamarlin Martin | Episode 73: Jamarlin martin Jamarlin explains why this is a multifactorial rebellion versus mere protests against George Floyd. He discusses the Democratic Party’s underhanded relationship with police in cities and states under Dem control, and why Joe Biden is a cop and the Steve Jobs of mass incarceration.

She is survived by her husband, her brother Jamil and her former sister-in-law Jamilah Muhammad; six children (Joshua, Miriam, Naeemah, Rashaad, Valencia and William, Jr.); a host of grandchildren, family and friends, according to the Final Call.

In her last days, she enjoyed spending time writing, acting in her son Joshua’s plays, spending time with her grandchildren, children and family.


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Biden offers Atlanta Mayor Keisha Lance Bottoms ambassadorial post to Bahamas after being considered vice president https://eau-bio.com/biden-offers-atlanta-mayor-keisha-lance-bottoms-ambassadorial-post-to-bahamas-after-being-considered-vice-president/ https://eau-bio.com/biden-offers-atlanta-mayor-keisha-lance-bottoms-ambassadorial-post-to-bahamas-after-being-considered-vice-president/#respond Thu, 11 Mar 2021 06:15:06 +0000 https://eau-bio.com/biden-offers-atlanta-mayor-keisha-lance-bottoms-ambassadorial-post-to-bahamas-after-being-considered-vice-president/
Biden offers Atlanta Mayor Keisha Lance Bottoms the post of ambassador to the Bahamas after being considered vice president. Photo: Mayor Keisha Lance Bottoms speaks at the I Will Vote fundraising gala on June 6, 2019 in Atlanta. (AP Photo / John Bazemore)

Did Joe Biden ask Atlanta Mayor Keisha Lance Bottoms – rumored at one point as a possible candidate for vice president – to be the U.S. ambassador to the Bahamas? A spokesperson for President-elect Joe Biden’s transition team said the report was “not true”. However, other reports persist that the post of Bahamian ambassador was offered and Bottoms turned it down.

“It’s not true,” Sean Savett from Biden’s transition team tweeted. “No decision on ambassadors outside the UN has been taken.”

Bottoms faces the Atlanta heat increased crime rate, and 2020 will become one of the city’s deadliest years in decades, Fox News reported.

There were three murders in less than 24 hours over the Christmas weekend. That brought the number of homicides in Atlanta this year to 154, the highest since 1998, according to the Atlanta Journal-Constitution.

Bottoms faces other things besides the ambassador rumor. She faces a backlash after the accidental shooting on December 21 of a 7-year-old girl who was driving in a car with her family on her way to a Christmas store. Kennedy Maxie later died.

Posters on Twitter debated the value of an ambassadorial post.

“People are sleeping on what an ambassador can do for a person after public life,” one user said.

Another replied, “Usually that’s true. But Mayor Bottoms should probably get a high-level ambassadorial post or a high-level political or ministerial role. She is the current mayor of a large American city and one of the first to support. You have to do this better.

Listen to GHOGH with Jamarlin Martin | Episode 73: Jamarlin martin Jamarlin explains why this is a multifactorial rebellion versus mere protests against George Floyd. He discusses the Democratic Party’s underhanded relationship with police in cities and states under Dem control, and why Joe Biden is a cop and the Steve Jobs of mass incarceration.

Biden’s alleged offer arrived earlier this month, though neither party has confirmed it. Many, however, see the offer as an affront to the mayor of Atlanta who has been one of the president-elect’s most public and outspoken supporters during his election campaign, News One reported.

An ambassadorial post to the Bahamas is typically awarded to apolitical foreign service professionals or, in some cases, prominent political donors, Yahoo reported.


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]]> https://eau-bio.com/biden-offers-atlanta-mayor-keisha-lance-bottoms-ambassadorial-post-to-bahamas-after-being-considered-vice-president/feed/ 0 Amid the PhilHealth scandal, Duterte urged to keep his past promise not to tolerate a ‘whiff of corruption’ https://eau-bio.com/amid-the-philhealth-scandal-duterte-urged-to-keep-his-past-promise-not-to-tolerate-a-whiff-of-corruption/ https://eau-bio.com/amid-the-philhealth-scandal-duterte-urged-to-keep-his-past-promise-not-to-tolerate-a-whiff-of-corruption/#respond Thu, 11 Mar 2021 06:15:06 +0000 https://eau-bio.com/amid-the-philhealth-scandal-duterte-urged-to-keep-his-past-promise-not-to-tolerate-a-whiff-of-corruption/

MANILA, Philippines – As controversy continues to surround the head of PhilHealth and other senior officials, Senator Ping Lacson said on Thursday he was dismayed by President Rodrigo Duterte’s failure to keep his promise that he would not even tolerate “a whiff of corruption”.

“He once said ‘just a whiff of corruption’, just a slight whiff, you’re fired. It’s not just a whiff of corruption. It’s very disappointing…” Lacson said in an English mix. and Filipino in an interview with the ANC.

“It is his discretion, it is the President of the Philippines … the responsibility ends, they say, at his table, but when the situation is there, we are in a pandemic, and we hear [allegations] like that … I was shocked, “he added partly in Filipino.

Former PhilHealth anti-fraud lawyer Thorrsson Keith, at a Senate hearing on Tuesday, claimed executives of the state-run agency had stolen 15 billion pesos from its funds.

“What we found at PhilHealth was Crime of the Year due to the syndication of cash advance distribution, the interim repayment mechanism, and the repeated overpricing of purchased computer hardware,” Keith said. in Filipino.

Lacson at the hearing further compounded that accusation, saying the agency’s interim reimbursement mechanism, which is intended for healthcare facilities affected by disasters or “fortuitous events”, was not being handed over to the appropriate hospitals. .

According to the senator, PhilHealth freed “hundreds of millions” to dialysis centers and maternity care providers, but was unable to free 19 million pesos to Ospital ng Maynila which was accepting cases of COVID-19 .

Ospital ng Maynila has since been temporarily closed due to an increase in COVID-19 infections among its staff.

A day after the Senate launched its investigation, Malacañang said Duterte would not fire the head of the state agency until he had evidence of corruption.

“It goes without saying that I am disappointed. We’re trying to correct or help the president take corrective action, ”Lacson said, referring to Duterte’s continued trust in Morales and Health Secretary Francisco Duque III.

More than half of the Senate has either called for Duque’s resignation or asked Duterte to fire the health chief, due to his alleged flawed response to the COVID-19 crisis.

RELATED: Lacson again questions Duterte’s decision to keep Duque as health secretary

“I hope the President will at least review the transcript of our hearing with PhilHealth on Tuesday. He can focus on the answers from [Ricardo] Morales and other PhilHealth officials. Then he can judge for himself, “added Lacson.

Morales vehemently dismissed the corruption allegations against him and other senior officials at the state agency on Thursday.

Lacson criticizes Morales’ ‘lame’ apology

In a separate interview with CNN Philippines on Thursday, Lacson also criticized what he called Morales’ “lame” excuse for allegedly overpriced items in the agency’s information technology budget.

PhilHealth board member Alejandro Cabanding accused the agency chief of pushing for approval of budget items that are too expensive for IT which he says amount to at least 750 million pesos.

“There were numbers in the IT budget in the financial reports that didn’t match. I spoke to the board about it, but the most frustrating part is that management seems to tolerate such acts,” Cabanding said. .

During the Senate hearing, Morales responded to overpriced items listed, such as laptops worth over 100 million pesos, saying he was not a computer expert.

He also defended the robust budget by claiming that improving the management system would help eliminate fraud within the agency, admitting that PhilHealth’s fraud index is 7.5%, which is 10, 5 billion pesos potentially lost due to fraud.

Morales further apologized for the agency, saying there was “no health system in the world entirely free from fraud.”

As these allegations continue to spread amid the COVID-19 crisis, infections in the Philippines reached a grim stage on Thursday.

With 3,561 additional new coronavirus cases, bringing the number of national cases to 119,460, the Philippines has overtaken Indonesia as the worst-affected country in Southeast Asia.

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Nav launches free tools to help SMEs navigate the new PPP cycle https://eau-bio.com/nav-launches-free-tools-to-help-smes-navigate-the-new-ppp-cycle/ https://eau-bio.com/nav-launches-free-tools-to-help-smes-navigate-the-new-ppp-cycle/#respond Thu, 11 Mar 2021 06:15:06 +0000 https://eau-bio.com/nav-launches-free-tools-to-help-smes-navigate-the-new-ppp-cycle/

SALT LAKE CITY, Dec. 30 2020 / PRNewswire / – Navigation, the smart and simple financing platform for small businesses, has launched a new paycheck protection program (PPP) loan calculator as well as other tools and resources to help small and medium-sized business (SME) owners access the latest federal funding and pardons. In the wake of the recently signed stimulus bill that includes new PPP loans and additional relief for small businesses, Nav’s free resources include:

This year, the struggle for business survival has been particularly difficult and Nav has directly felt the demand for financing from SMEs. In 2020 alone, the company facilitated more than 75,000 funding requests. Through PPP in particular, they have helped over 4,000 small businesses obtain loans and have seen firsthand why the first round of aid failed for so many businesses. A recent report de Nav found that only 36% of the smallest U.S. businesses applied for a PPP the first time, compared to 61% of midsize businesses. Many small businesses have pulled out entirely due to the complexity and lack of resources to apply.

“Small business lending is a broken system, and real small businesses in particular are underserved by big banks. This is not a new problem, but COVID-19 and the first rounds of PPP made it even clearer, ”said Greg ott, CEO of Nav. “With the recent approval of second-draw PPP loans, the need for a clearer path to small business lending seems particularly urgent. At Nav, we’re committed to reducing the failure rate for small businesses, and right now that means it’s easier for small business owners to understand and access new federal reliefs.

Since the commissioning of the first PPP funding cycle with the CARES law, Nav has made numerous updates to its platform to better help SMEs in seeking financial support. In September, Nav announced a improved and intelligent platform which includes the addition of real-time business data analytics and bank account connectivity, an expanded team of expert finance managers, and a dynamic and streamlined user experience, to facilitate a simpler and more personalized finance experience from beginning to end. Soon after, the company revealed its new generation on-board financing platform to provide more transparency and certainty to SME owners and partners within the small business lending ecosystem.

To take advantage of Nav’s resources, create a free account and launch your PPP application today, here.

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Epigram Books Fiction Prize splits for the first time, Arts News & Top Stories https://eau-bio.com/epigram-books-fiction-prize-splits-for-the-first-time-arts-news-top-stories/ https://eau-bio.com/epigram-books-fiction-prize-splits-for-the-first-time-arts-news-top-stories/#respond Thu, 11 Mar 2021 06:15:06 +0000 https://eau-bio.com/epigram-books-fiction-prize-splits-for-the-first-time-arts-news-top-stories/

SINGAPORE – The Epigram Books Fiction Prize has announced its first tie, dividing the prize between Singaporean writers Sebastian Sim and Boey Meihan.

The two will each receive $ 15,000 from the sixth edition of the award, Singapore’s only award for unpublished English-language novels.

They were among six shortlisted writers celebrated in a virtual ceremony broadcast live on Facebook and YouTube on Saturday, January 16, instead of the hotel’s usual gala.

This is the second laurel for Sim, 54, who won the award in 2017 for The Riot Act and was also a finalist in 2015 for Let’s Give It Up For Gimme Lao!

He said he was “half surprised, half grateful” to be the first double winner in the history of the award.

The idea for his winning manuscript, And the Award Goes to Sally Bong !, arose while he was writing Let’s Give It Up For Gimme Lao !, a satire about a relentless overachiever who was born on the night of independence. from Singapore.

“It got me thinking,” said Sim, who has a day job as an office executive. “What would the Singapore experience be like for a non-director? “

Its protagonist Sally Bong, who appears briefly in Let’s Give It Up For Gimme Lao! and whose life parallels that of Gimme Lao, is kind at heart but not ambitious.

She realizes early on that while she is praised by authorities when her attempts to help others gain media attention, they react with horror when she tries to push the boundaries.

Boey, 43, is a newcomer to the prize, although she is no stranger to the book business.

The community events manager and former bookseller of Books Kinokuniya is the Vice President of the Singapore Comic Artist Association (Acas) and released her first novel, the space opera The Messiah Virus, in 2019.

Her novel, The Formidable Miss Cassidy, mixes historical romance, comedy and horror. She’s had the idea running through her head for 20 years, she said, but the novel really only came to light during last year’s Breaker.

It takes place in 1890s Singapore and follows Miss Lydia Cassidy, a Scottish companion who discovers that the house she works in is haunted by a pontianak. Judge Monica Lim described it as “The King and I meet Mary Poppins, with some hantu (ghosts) thrown in for good measure.”

“It’s a world I’ve always secretly believed in,” said Boey, who took inspiration from British fantasy writer Neil Gaiman’s “gods and monsters in plain sight” and populated his novel with supernatural beings such as the orang minyak, a fat and rapacious ghoul from Malay folklore, and toyols, undead infantile spirits.

“From lines on your palm describing your fortune to the orang minyak coming for your daughter, Singapore’s culture has always been a mishmash of Westerners and Asians. Singaporeans have a remarkable ability to accept that opposing beliefs may exist. in the same space. “

Epigram founder Edmund Wee, 68, said the jury was out between the two books and neither side wanted to give in.

As the judgment was to take place on Zoom, he added, it was more difficult to “bang our heads together”. Eventually, they got the idea to follow in the footsteps of the Booker and the Singapore Literature Prizes, both of which recently named joint laureates.

The jury also included Lim, author of children’s books; producer and film curator Wahyuni ​​Hadi; associate professor of English at Nanyang Technological University, Sim Wai Chew; and Mr. Gareth Richards, founder of Gerakbudaya Bookstore in Penang.

Sim said he plans to donate 40% of his prize money to documentary director Jason Soo, whom he has never met in person but whose work he is a huge fan of, while Boey hopes to use some of it. of his earnings to release a comic book with Acas.

It was a year of many firsts for the award. As the usual gala ceremony had to be canceled due to Covid-19, Epigram shifted the savings toward expanding the price list from four to six novels, increasing the pot from $ 40,000 to $ 50,000.

In previous years, the shortlist included four novels, with one winner receiving $ 25,000 and three finalists each receiving $ 5,000.

This year, the other finalists – Singaporeans Daryl Qilin Yam, Pallavi Gopinath Aney and Wesley Leon Aroozoo and Malaysian HY Yeang – will each receive $ 5,000.

The six shortlisted novels will be published in the second half of this year.

The award, which is a cash advance against future royalties, was launched in 2015 for Singaporean writers and opened to writers from other Asean countries in 2018.

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Restaurant Brands International sees same-store sales improvement in April | 2020-05-08 https://eau-bio.com/restaurant-brands-international-sees-same-store-sales-improvement-in-april-2020-05-08/ https://eau-bio.com/restaurant-brands-international-sees-same-store-sales-improvement-in-april-2020-05-08/#respond Thu, 11 Mar 2021 06:15:06 +0000 https://eau-bio.com/restaurant-brands-international-sees-same-store-sales-improvement-in-april-2020-05-08/

TORONTO – Comparable sales fell for both Burger King, down 3.7%, and Tim Hortons, down 10%, in the first quarter ended March 31, but executives at parent company Restaurant Brands International Inc. had bullish data to offer in a May 1 call result.

Digital usage and delivery is increasing amid the coronavirus (COVID-19) pandemic. Comparable sales in April improved from lows in March.

“In mid-March, we saw a sharp drop in comparable sales between brands and regions, coinciding with the global proliferation of COVID-19,” said José E. Cil, Managing Director of Restaurant Brands International (RBI) based in Toronto. “While many challenges remained in April and continue as we head into May, there is renewed optimism and confidence among our brand teams and restaurateurs as we have seen a strong improvement in comparable sales over the course of of April, small double-digit improvements for every brand in our home markets from the lowest levels we saw at the end of March. “

Joshua Kobza, COO of RBI, highlighted the growth in digital delivery and sales.

“From a base of a few hundred restaurants in North America delivered two years ago, we now have over 9,000 active restaurants across our three brands, most offering delivery through our own digital platforms as well as several aggregators, ”he said. noted.

He added that digital sales in domestic markets for the third week of April represented about 9% of total Burger King sales, 15% of total Popeyes sales and over 30% of total Tim Hortons sales.

Cil noted the time slot changes. Before COVID-19, people followed routines like going to work or taking children to school, he said.

“Times of the day like breakfast and snacks that fit into these routines saw a disproportionate decrease while lunch and dinner showed more strength,” Cil said. “Also, while we would typically see sales increase on Thursdays and continue at a higher rate throughout the weekend, we are now seeing better performance on weekdays, and although traffic has declined, we have generally seen a increase in the average size of checks due to more frequent bulk orders, both at drive and delivery.

Burger King’s overall sales fell 3% in the quarter to just under $ 5 billion. In the last two weeks of March, same-store sales fell by more than 30%, but the percentage decline fell to less than 20% at the end of April. Burger King’s drive-thru sales in the United States have been positive since the second week of April and are now up more than 15% year-over-year, Cil said.

“And on delivery, in the last few weeks of the quarter, we ramped up the rollout to several hundred restaurants, so we now have over 5,000 restaurants offering the service, most through multiple delivery partners as well as ‘Burger King mobile app,’ he said. .

To assist Burger King restaurant owners in the United States, cash advances on rebates were made immediately available up to $ 15,000 per restaurant.

Popeyes continued a hot streak that started with a chicken sandwich last year. Comparable sales increased 26% in the first quarter. Total sales increased 32% to $ 955 million. In the last two weeks of March, comparable sales were flat, but returned to pre-COVID-19 levels in late April. The average order size and number of tickets increased, particularly during dinner day due to orders for family meal packages.

Total Tim Hortons sales in the quarter fell 10% to $ 1.38 billion. In the last two weeks of March, same-store sales fell by more than 40%, but the percentage fell to less than 40% at the end of April. The Tim Hortons chain has grown from 250 restaurants offering delivery to more than 1,000 in less than two months, Cil said.

Company-wide, Restaurant Brands International posted first quarter net income of $ 224 million, or 48 per share, down 9% from $ 246 million, or 53 per share, in the first quarter of the previous year. Total revenue of $ 1.23 billion was down 3.3% from $ 1.27 billion.

All brands combined, more than 95% of American restaurants are open, Cil said. About 85% of Tim Hortons in Canada are open.

About half of restaurants in Europe, the Middle East, Africa and Latin America were temporarily closed due to COVID-19 at the end of the first quarter. In China, less than 10% of restaurants remain closed, Cil said.

RBI’s total debt was $ 13.4 billion as of March 31. Net debt, which is total debt less cash and cash equivalents, was $ 10.9 billion. The net leverage was 4.8x. The cash balance led the company to withdraw almost all of its $ 1 billion revolving credit facility in mid-March.

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Is the UltraFICO score good or bad for consumers? https://eau-bio.com/is-the-ultrafico-score-good-or-bad-for-consumers/ https://eau-bio.com/is-the-ultrafico-score-good-or-bad-for-consumers/#respond Thu, 11 Mar 2021 06:15:05 +0000 https://eau-bio.com/is-the-ultrafico-score-good-or-bad-for-consumers/

When new credit scores come to light, it shakes up the credit world a bit. The new UltraFICO score is no exception.

In fact, this score is so different, it has the attention of consumers and just about every credit expert (raising their hand) on the planet. It’s intriguing because it gives a certain segment of consumers a little more power over their own credit.

The UltraFICO score examines financial behavior, such as checking and savings accounts, that has never been considered for FICO credit scores before. FICO has been pretty transparent about how this new score works, and it’s billed as “The Score You To build.”

I love the power of consumers, but there is also a potential side effect of this new score which is a bit annoying. I’ll get to that, but first let’s see how the UltraFICO score works.

How the UltraFICO score works

The UltraFICO score is unique because it is an “opt-in” FICO score. When a lender requests your FICO score from a credit bureau, your score is calculated based on the information in your credit report. If your credit is limited or you are rebuilding your credit, your credit score will likely be too low to be approved for many types of credit.

In this scenario, the lender may request a recalculation using the UltraFICO score. It is the same number range like the FICO score, 300-850, but the new score takes into account your banking activity. If you have a score in the gray area, from the top 500 to the bottom 600, according to FICO, the recalculation could increase your score enough to get you approved.

To opt for a recalculation using the UltraFICO score, you must meet the following criteria:

  • You have not had any negative account balances in the past three months.
  • You have an average balance of $ 400 in savings over the past three months.
  • You apply for credit from a lender who uses Experian for a credit report and credit score. Experian is the only one of three big credits offices currently offers a recalculation using the UltraFICO score.

FICO estimates that 70 percent of consumers with no or limited credit who meet the above account criteria would see their scores increase.

FICO anticipates a smooth launch of the UltraFICO score in early 2019. This “pilot” phase is designed to determine how well the score is performing in practice. But it’s also a test to see what consumers think about sharing more of their financial data. The sheet music should be more widely available in summer 2019.

What’s good about the UltraFICO score

If you already have a good to excellent FICO score, this will not increase your score. But it helps a group of consumers who fall into that gray area that I just mentioned.

Here’s who the UltraFICO score helps the most:

  • Consumers with limited or at-risk credit, such as young people, recent college graduates, and immigrants. A TransUnion survey as of 2015 showed that 43% of millennials had subprime loans. The first credit score is around 670, depending on the lender.
  • Consumers who are rebuilding their credit rating. This may be due to irresponsible behavior or to circumstances beyond their control, such as job loss or medical bills.

Let’s say you have a FICO score of 620, but your lender demands a prime credit score. The lender looks at your FICO score of 620 and knows it’s not high enough to approve your loan or credit card application. If you meet the previously mentioned criteria with your bank accounts, the lender may request a recalculation of your score using the UltraFICO score.

It’s possible that a score overhaul will help you get approved. Sounds pretty idyllic, right? Well, only if you assume that a traditional FICO score doesn’t really represent that consumer’s reality.

But what if the score was good the first time around? Let’s take a look at the back of this new score.

What is (potentially) bad about the UltraFICO score

Here is the assumption behind this score: If you manage your bank accounts well and have some savings, then you have better credit risk than your “regular” FICO score implies.

Do you know what’s bothering me? The ability to manage cash well does not always translate into good credit management. I see them as two different skill sets. And having $ 400 in your savings account isn’t much. There will be consumers approved through the UltraFICO score who are really not good candidates for credit at this point in their lives.

Now I don’t want to be depressing because I’m really happy that some deserving consumers have the chance to shine. And these people will be well on their way to achieving a great score, including all the benefits that come with great credit.

But FICO score algorithms were designed to measure credit risk. The UltraFICO score can be used to primarily replace the results of the initial FICO score calculation.

There will be times when it will work as expected and it will turn out fine. But I think it’s also important to have the big picture and to have realistic expectations. There will also be times when giving someone credit a little prematurely might not happen at all.

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Real estate investment: the successful cross-collateralisation of Ex-Marine https://eau-bio.com/real-estate-investment-the-successful-cross-collateralisation-of-ex-marine/ https://eau-bio.com/real-estate-investment-the-successful-cross-collateralisation-of-ex-marine/#respond Thu, 11 Mar 2021 06:15:05 +0000 https://eau-bio.com/real-estate-investment-the-successful-cross-collateralisation-of-ex-marine/

After eight years in the Marine Corps, Matt DeBoth knew his life had to take a new direction.

“I kind of wanted to be my own boss,” he said. Business intern. “I was fed up with being told what to do and just wanted to make money passively.”

He added: “I realized that real estate was the way to get there.”

During his last overseas deployment, DeBoth voraciously consumed any real estate information he could get his hands on. that of Robert Kiyosaki “Rich Dad, Poor Dad” served as an influential base during this process.

“I pretty much picked up all the books I could,” he said. “I’ve never had a coaching class or anything like that.”

When DeBoth returned home to North Carolina, he hit the ground running. After spending hours scouring the internet for single family home purchases, he stumbled across a 20 unit property that seemed like a prime candidate for a home hacking.

For the uninitiated, house hacking is a real estate investment strategy that uses the extra rooms or units of your primary residence. A home hacker can cover the costs associated with owning the property and even generate positive income by renting out these spaces.

“I knew for a fact that it was out of my price range,” he said. “I knew there was no way I could find 20% less.”

Still, DeBoth was not deterred. He ran the numbers, emailed the real estate agent, and finally got in touch with the owner of the property.

After DeBoth developed a relationship and negotiated with the owner, he purchased the property for $ 500,000 with a down payment of $ 50,000, or about $ 200,000 less than the listed price. Although his interest-only payments peaked at around 12.5% ​​for the first six months, DeBoth said the deal was cash flow from the start because of the negotiated purchase price.

“He took a chance on me,” he said. “From day one, I guess you would say I was financially free just by signing the closing papers.”

This first 20 unit house hack laid the foundation for DeBoth’s career as a successful real estate investor. Today, it sports a portfolio of 174 units consisting of single-family rentals and apartments.

Here is how he did it.

A creative strategy

Shortly after DeBoth landed his 20-unit house hack, he purchased two single-family residences. He bought one for $ 8,000 in cash and immediately disposed of it for $ 16,000. He bought the second home with a $ 25,000 advance on a credit card. The profits and equity he made from these properties would be used to snowball his assets.

Once DeBoth was able to refinance his 20-unit building, he began to cross collateral its properties to add to its portfolio. Essentially, he uses one property to pay for another under this methodology.

Since DeBoth is well aware of the risks associated with this strategy – losing both properties instead of one – he tries to insure each other for short intervals, usually around six to 12 months. In this way, it does not create a “house of cards” type scenario that prevailed during the financial crisis, he said.

“I’m going to tie property B to property A, fix that, refinance it – and now, boom, I have two pouring in like crazy,” he said.

Plus, when DeBoth refinances its properties, it doesn’t take away any additional equity it may have accumulated through the renovations. In doing so, the debt service coverage ratio remains high, he said. He calls it “the golden ratio” that banks watch closely.

“I usually try to get my DSCR to 1.4,” he said. “I look at these added values ​​and I relet them, I put a new direction in there, I repair what needs to be repaired. And then once that’s all done, I refinance it, I leave all that money – all that equity on the books – just refinance it for whatever I owe on it and that’s when it starts pouring in . “

Ultimately, DeBoth hopes to bring in between $ 125 and $ 150 in cash flow per unit.

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]]> https://eau-bio.com/real-estate-investment-the-successful-cross-collateralisation-of-ex-marine/feed/ 0 5 things to know about the “gentrification bomb” that was dropped on Black Charleston, South Carolina https://eau-bio.com/5-things-to-know-about-the-gentrification-bomb-that-was-dropped-on-black-charleston-south-carolina/ https://eau-bio.com/5-things-to-know-about-the-gentrification-bomb-that-was-dropped-on-black-charleston-south-carolina/#respond Thu, 11 Mar 2021 06:15:05 +0000 https://eau-bio.com/5-things-to-know-about-the-gentrification-bomb-that-was-dropped-on-black-charleston-south-carolina/
Here are 5 things to know about the ‘gentrification bomb’ that has been dropped on Black Charleston, South Carolina over the past few years. Photo: Pedro de Carvalho Ponchio

For a few years now, Charleston, SC has come under attack – and a gentrification bomb is the weapon of choice. While gentrification is not new and has occurred all over the United States, some cities have been affected more than others. Here are 5 things to know about the “gentrification bomb” that was dropped on Black Charleston, South Carolina.

Named the most “gentrifying” city in 2017

Known for its immense history, Charleston claimed first place as America’s “fastest gentrifying” city in 2017.

According to a Realtor.com report, neighborhoods in Charleston, which once housed predominantly black working-class residents, had become “increasingly bourgeois and white.”

The analysis looked at house prices and census data to determine which cities were among the most rapidly gentrified, according to Bordered.

“We looked at cities with populations of 50,000 or more between 2000 and 2015. Next, we looked at census tracts in the United States, that is, data for neighborhoods of 1,200 to 8,000 people. We focused on low income areas with house values ​​that had gentrification potential (excluding richer communities that had already arrived). which cities were seeing the biggest turnaround, ”realtor.com wrote.

House prices have risen sharply

According to Curbed, the median price of a home in Charleston, South Carolina, rose from $ 152,100 in 2000 to $ 270,000 in 2015. The increase was 77.5%.

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Residents expressed frustration with gentrification

Charleston residents have expressed concern over the city’s rapid gentrification. Last year, a group called “Charleston Promise Neighborhood” organized a forum for residents to voice their opinions on the issue, WCSC 5 reported.

Sherrie Snipes-Williams is the CEO of the group. “It is designed to provide residents in and around the neck with access to information and resources to better understand what is happening in and around the community,” Snipes-Williams told WCSC.

North Charleston was once a haven for black residents seeking refuge from gentrification. This is no longer the case. According to Barney Blakeney, who grew up in Charleston, the displacement has reached the region.

In an article by The Charleston Chronicle, Blakeney wrote: “As black people were displaced from the Charleston Peninsula, Mount Pleasant and other areas flooded by gentrification, North Charleston became a haven for many people seeking affordable housing. modest. Now, this ship has sailed.

Redlining is back

Blakeney also said redlining has made a comeback in Charleston.

“Blacks had taken up residence in previously entirely white neighborhoods. But a reverse trend had started. The whites were reclaiming their old quarters and the blacks who had replaced them were being driven to North Charleston. The old practice of redlining was being instituted, ”Blakeney wrote.

Climate change also affects gentrification

According to WCSC5, “The issues affecting these neighborhoods are things like new development, flooding and even climate change. Residents say they are leading to blatant injustice.

“For me who grew up in downtown Charleston on the Peninsula and go to high school in North Charleston, you see this huge difference in economic disparities,” said Anthony Grant, a native of Charleston.


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Here are the minority startups supported by VC Giant SoftBank https://eau-bio.com/here-are-the-minority-startups-supported-by-vc-giant-softbank/ https://eau-bio.com/here-are-the-minority-startups-supported-by-vc-giant-softbank/#respond Thu, 11 Mar 2021 06:15:05 +0000 https://eau-bio.com/here-are-the-minority-startups-supported-by-vc-giant-softbank/
  • SoftBank has revealed the first batch of startups to secure funding from its new $ 100 million Opportunity Fund, dedicated to startups led by Black, Latin American and Native American founders.
  • One founder told Business Insider that having SoftBank as an investor was a “game changer.”
  • Visit the Business Insider homepage for more stories.

When the protests over George Floyd’s murder came to a head in June, a series of VCs announced new initiatives and funds for black founders and others.

SoftBank joined the crowd. But while others set aside relatively small funds, SoftBank, as it is its style, has grown big. He announced that his $ 100 million Opportunity Fund will be dedicated to supporting startups led by people of color.

Only 1% of venture-funded startups are run by black people, according to Crunchbase. While the Opportunity Fund only accounts for 0.1% of SoftBank’s core fund amount, its $ 100 billion Vision Fund is nonetheless an important step in the right direction.

The fund is managed by SoftBank COO Marcelo Claure and managing partner Shu Nyatta, assisted by black operators and entrepreneurs like Paul Judge, co-founder of Pindrop Security, and Stacy Brown-Philpot, the former CEO of TaskRabbit.

Many of these 16 startups were launched in 2020 and went through Y Combinator’s prestigious acceleration program this year. Others have been around for years, like PlayVS, the competitive gaming platform founded by Detroit-native Delane Parnell, which raised over $ 96 million to date.

Mitchell Jones, co-founder of fintech startup LendTable, described SoftBank’s landing as an investor as a transformer.

“The Opportunity Fund is made up of a great team, and they were immediately ready to help us with hiring, accounting and many aspects of management that you don’t think about when you start a business for the first time,” he added. . “The collaboration they’ve created with Stacy Brown-Philpot, Paul Judge, and many other well-known black and brown faces in tech is a game-changer.”

While SoftBank has not disclosed the size of the investments it has made in each company, the list below represents the top sixteen companies in the Opportunity Fund portfolio, according to the Opportunities Fund website.

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