Governor Shumlin applauds new rail designation for high speed corridor

first_imgGovernor Peter Shumlin said today he’s pleased that the US Department of Transportation (USDOT) is designating the Northeast Corridor (NEC) as a ‘high speed rail corridor,’ a definition that allows NEC states to compete for federal rail funds.As Chair of the Transportation Committee for the Coalition of New England Governors (CONEG), Shumlin has been working with his counterparts across the region to advance the vision for a regional high speed rail network. ‘This is an important step for advancing the New England rail network. It will finally enable the Northeast Corridor to compete for federal rail dollars,’ Gov. Shumlin said. ‘Enhancing passenger rail investments throughout our region will benefit Vermont’s vision of a robust and vibrant passenger rail network connecting Vermont with New York, Boston, and Montreal.’ The Governor said rail investments throughout the region will continue to reduce travel times along the Amtrak route, increase mobility for Vermonters and improve energy efficiency across our region. ‘I am pleased to be working in concert with other New England Governors to make this vision a reality,’ he said.As part of the Northern New England network, Vermont is already eligible for such designated funds. However, the NEC is a linchpin in the broader regional rail network. With this decision, projects along the Northeast Corridor will now be able to compete on a’ level planning field’ for any current and future federal funds intended to improve and advance high speed rail corridors and service. Without this designation the NEC, including the congested Boston-to-Washington Corridor, would be ineligible to pursue these federal funds.The CONEG Governors recently wrote to USDOT Secretary Ray LaHood urging that all the northeast states be considered in the reallocation of any high speed-intercity passenger rail grant funds that might become available. Home to more than 20 percent of the nation’s population, the northeast states have worked cooperatively to advance projects needed to improve the current rail system, and develop joint plans and projects that contribute to the goal of high quality, expanded passenger rail service and significantly increased ridership.MONTPELIER — 3.15.2011last_img read more

Furore as Sydney press goads Greece

first_img Facebook Twitter: @NeosKosmos Instagram Thursday 15 September marked a black day in Australian journalism. In a remarkable rant by the Sydney Morning Herald, the Fairfax newspaper took aim at Greece and Greeks with a volley of insults and invective. Within hours of the article’s publication, reaction from Greece and the Greek Australian community has been swift and strong. In a story that plumbed the depths of Australian journalistic standards, the SMH took the extraordinary step of promoting itself as an advisor to eurozone leaders with the headline ‘Throw out cheating Greece before the rot cripples rest of the world’. The 900 word opinion piece, written by SMH columnist Paul Sheehan, went on to vilify Greece and Greek people drawing spurious connections between the economic crisis in Greece and the value of Australian superannuation funds. Counsellor for Press at the Consulate General of Greece in Sydney, Mr Nicholas Economidis in a letter to the newspaper, has expressed the Consulate’s discontent with the article’s tone and content, accusing the paper of making insulting statements. The Greek Ambassador to Australia, Alexios Christopoulos, expressed his dismay over the article. “It is a ridiculous article because of the way that it is expressed,” said the Ambassador. “It reminds me of the old times, like the extremes and incitements which created the Second World War.” In his startling diatribe, Sheehan’s first paragraph set the tone for the rest of article:”Greece may be far away… but it is dragging down the value of your superannuation because its problems are a drag on the global sharemarket. The root cause of the problem is simple. The national sport of Greece is cheating. Cheating across every tier of society.” The article went on to make sweeping generalisations concerning levels of corruption in Greece, including the suggestion that illegal betting in Greek soccer was a metaphor for a national malaise, that had single-handedly resulted in the Greek economic crisis, and which had then gone on to threaten world markets and subsequently, the value of Australian superannuation funds. The invective used by the SMH journalist to support his highly-questionable claims goes as close as any respected Australian newspaper in recent times has gone to making overtly abusive and ethnically racist statements. The Greek Consulate in New South Wales has written to the Sydney Morning Herald asking that the newspaper print the Consulate’s response to the article in full. Following publication on the SMH website, within hours more than 130 comments were posted online in response. Most took great exception to what they had read. Neos Kosmos leaves the last word to SMH readers: “I find [the] article quite disturbing not just in its poor form of an attempted piece of journalism but in its racial provocations. To generalise and label all Greeks as cheaters “across every tier of society” is absurd. Equally absurd is your attempts to justify your reasoning as to why the Greek economy is failing.” -AlphaAlex “The usual hate-journalism… A racist diatribe that shames this newspaper. Replace Greeks with Jews and see what would happen. Most offensive is the use of the execrable acronym ‘pigs’…” – Bazarov “So much vitriol towards the Greeks. What about the profligate Irish who thought that potato famines were a thing of the past and they were all rich by borrowing to invest in houses? Or the delusional and corrupt Yanks who created the mess to begin with? A simple test is this. If you write something about a people and claim it is a ‘characteristic’, try substituting in say ‘Jew’ instead of that ‘ethnicity’. If what you’ve written sounds unacceptable, then what you’ve written is offensive.” – Simeon “… linking dodgy football clubs and cheating athletes to a corrupt society and bankrupt economy is flawed logic. One would never claim that Australia is a corrupt society because the Melbourne Storm cooked the books. Nor would you imply that American people are corrupt because their credit rating agencies gave AAA ratings to derivative products that were backed by dodgy mortgages. Furthermore, Greek PM George Papandreou was the man who pointed out to the world that the books were cooked, not Goldman Sachs… In regards to Super, blame the poor performance on American bankers whose actions lead to the world’s biggest economy facing their biggest economic crisis since the great depression (as opposed to Greece, an economy the size of Victoria’s)…” – Paul “What a hateful and vitriolic article… just plain nasty. Try running your propositions through to their conclusion instead of just making grand hateful statements. The current crisis is a walk in the park compared to what would happen if Greece were kicked out of the EU.” – Anonymous“Yup, them no-good cheatn’ Greeks, what have they ever done for us? Hey Sheehan, Sheik of Lies, why don’t you focus on some of the massive tax-payer funded rorts here in Australia… No need to look overseas. But I reckon the Sheik of Lies is blind to the rorts of his mates in his own backyard. Easier to talk about those darn Greeks.” – Alexander der Grosselast_img read more

Hudsons Bay chairmans firm to buy Ontario pension fund stake in retailer

first_imgHudson’s Bay chairman’s firm to buy Ontario pension fund stake in retailer; stock surges more than 12% Shares of the company have fallen 37% in the last 12 months More Hudson’s Bay Co Chairman Richard Baker is buying shares in the retailer through his firm Rupert of the Rhine LLC.Canadian Press Comment Recommended For You’We were experiencing headwinds’ — Canopy Growth stock heads south on poor sales ramp-upShaw Communications is selling its stake in Corus Entertainment for $548 millionB.C. vows to appeal after top court says province can’t restrict oil shipments across its bordersProtests, legal challenges planned to block Trans Mountain expansionFINCAD Now Accepting Applications for its 2019 Women in Finance Scholarship Reuters Facebook An entity controlled by Hudson’s Bay Co Chairman Richard Baker will buy the stake owned by a unit of Ontario Teachers’ Pension Plan Board in the Canadian retailer, according to L&T B Cayman Inc, a top shareholder in Hudson’s Bay and a joint buyer.The purchase of about 18 million shares at $9.45 each by Baker’s entity Rupert of the Rhine LLC represents a premium of 28.6 per cent to HBC’s Thursday close, L&T B Cayman said on Thursday.HBC stock surged 12.5 per cent to $8.25 after the open Friday. The acquired shares will represent about 9.76 per cent of common shares on a non-diluted basis and 7.54 per cent assuming the conversion of the outstanding convertible preferred shares of HBC into common shares, L&T B said.Upon completion of the deal, L&T B will own about 25.03 per cent of Hudson’s Bay on a non-diluted basis.HBC, the owner of the Saks Fifth Avenue luxury retailer, has embarked on a mission to boost flagging sales as it combats market share erosion by e-commerce companies including Inc.Last year, HBC formed a joint venture for its European business, sold its unprofitable online brand Gilt and had said it will close up to 10 struggling Lord & Taylor stores after selling the brand’s flagship building in Manhattan.Still for some investors, the measures have not gone far enough. Hedge fund Land & Buildings in November called for HBC to sell the Saks Fifth Avenue and Lord & Taylor brands and its 50 per cent interest in the European joint venture.Hudson’s Bay CEO Helena Foulkes then said the company agrees with Land and Buildings that HBC is undervalued and that “everything is on the table in terms of increasing value for our shareholders.”Shares of the company have fallen 37 per cent in the last 12 months.Hudson’s Bay and Ontario Teachers’ Pension Plan Board were not immediately available for comment outside regular business hours.© Thomson Reuters 2019 Share this storyHudson’s Bay chairman’s firm to buy Ontario pension fund stake in retailer; stock surges more than 12% Tumblr Pinterest Google+ LinkedIn Twitter 0 Comments Email January 4, 20199:50 AM EST Filed under News Retail & Marketing Reddit Join the conversation →last_img read more